Oxford team promotes Korean language education

SEOUL, December 19 (AJP) -- Researchers at the University of Oxford are expanding efforts to promote Korean language education amid surging worldwide interest in Korean culture. Oxford's Korean studies program has signed memorandums of understanding with South Korea's Pyeongtaek University and Indonesia's Pancasila University to develop and share Korean language curricula, Professor Jieun Kiaer said Wednesday. The initiative responds to growing demand for Korean lang

December 19, 2024

South Korean won hits 15-year high against dollar

SEOUL, December 19 (AJP) - The South Korean won surged past 1,450 to the U.S. dollar in early trading Thursday, its highest level in over 15 years, as a stronger dollar emerged in the wake of expectations for delayed interest rate cuts by the U.S. Federal Reserve. In the Seoul foreign exchange market, the won was trading at 1,452.1 per dollar as of 9:10 a.m., up 16.6 won from Wednesday’s close. The rate opened at 1,453.0 won, a rise of 17.5 won, and remained at similar level

December 19, 2024

U.S. Senate passes annual defense bill maintaining current level of USFK upkeep

SEOUL, December 19 (AJP) - The U.S. Senate on Wednesday approved a defense bill which includes Washington's commitment to maintaining about 28,500 American troops in South Korea. The annual National Defense Authorization Act, which allocates $895 billion for defense and security for fiscal year 2025, passed the Senate with a decisive 85-14 vote after clearing the House last week. The bill's passage comes amid concerns that U.S. President-elect Donald Trump may seek to red

December 19, 2024

2.7 million workers in South Korea belong to two umbrella unions

SEOUL, December 19 (AJP) - Approximately 2.7 million workers, or 13 percent of South Korea’s total workforce, are members of the country’s two major labor umbrella groups, according to data released by the Ministry of Employment and Labor on Wednesday. The figures highlight a growing divergence in membership trends between the Federation of Korean Trade Unions (FKTU) and the Korean Confederation of Trade Unions (KCTU). The report revealed that FKTU membership grew by

December 19, 2024

OPINION: How Trump's plan to surround himself with inexperienced loyalists could backfire

SEOUL, December 19 (AJP) - The incoming U.S. president Donald Trump is clearly committed to bringing loyal allies into his top team, even if they have little political experience. The most important factor appears to be allegiance to the Trump flag. Examples include Pete Hegseth, a Fox News presenter accused of sexual assault (which he denies), who is nominated to serve as defense secretary, and Robert F. Kennedy Jr., who is critical of U.S. vaccine policy, is nominated for health s

December 19, 2024

CIO takes over martial law probe into Yoon from prosecutors

SEOUL, December 18 (AJP) - The Corruption Investigation Office for High-Ranking Officials (CIO), an independent agency established to root out corruption in the government, is set to lead an investigation into President Yoon Suk Yeol's aborted declaration of martial law earlier this month, the Supreme Prosecutors' Office (SPO) said on Wednesday. The SPO said it decided to hand over Yoon's case to the CIO after consulting with it to separate their investigations. The d

December 18, 2024

Constitutional Court asks Yoon to submit documents related to martial law

SEOUL, December 18 (AJP) - The Constitutional Court of Korea said Wednesday that it has requested President Yoon Suk Yeol to submit documents related to his abrupt declaration of martial law earlier this month. The court, which is gathering evidence to prepare for Yoon's impeachment trial, also requested him to submit the minutes of Cabinet meetings held before and after the botched martial law attempt. Lee Jin, a court spokesperson, told reporters that the request was made e

December 18, 2024

Filmmaker behind hit coup flick speaks out over martial law attempt

SEOUL, December 18 (AJP) - Filmmaker Kim Sung-su, who directed last year's critically acclaimed film "12.12: The Day," has openly criticized President Yoon Suk Yeol over his abrupt declaration of martial law earlier this month, calling him "deranged." The historical film, set against the backdrop of a military coup in South Korea in the late 1970s, depicts disgraced former president Chun Doo-hwan, who seized power in December 1979 following the assassination

December 18, 2024

Leaders of two main parties meet to discuss bipartisan cooperation amid political turmoil

SEOUL, December 18 (AJP) - Leaders from the ruling People Power Party (PPP) and the main opposition Democratic Party (DP) met for talks in Seoul on Wednesday, several days after the National Assembly passed a motion to impeach President Yoon Suk Yeol last Saturday. The meeting between the PPP's floor leader Kweon Seong-dong and the DP's leader Lee Jae-myung also came after Lee's proposal last week to create a bipartisan consultative body to address the current political

December 18, 2024

Corporate mergers in South Korea plunge 40 percent in 2024

SEOUL, December 18 (AJP) - South Korea's corporate mergers and acquisitions (M&A) activity plummeted by 39.3 percent in 2024, totaling 8.58 trillion won ($6.6 billion), according to an analysis by CEO Score of 361 major companies. The number of deals also declined significantly, falling to 50 from 87 in the previous year. Among the transactions, Korean Air’s high-profile acquisition of Asiana Airlines for 1.8 trillion won ($1.38 billion), including 300 billion won i

December 18, 2024