Trump announces 25% tariff on imported cars, raising concerns for Korean automakers

SEOUL, March 27 (AJP) - The United States will impose a 25 percent tariff on all imported vehicles not manufactured domestically, a measure that could have significant ramifications for South Korean automakers, particularly Hyundai Motor Group. “What we’re going to be doing is a 25 percent tariff on all cars that are not made in the United States,” U.S. President Donald Trump said during a press conference in the Oval Office. “If they are made in the United

March 27, 2025

Sony evolves from post-war repair shop to global entertainment empire

Editor's Note: This article is the 12th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, March 26 (AJP) - In the decades since its humble beginnings amid the rubble of postwar Japan, Sony has grown into a sprawling multinational force that sits at the crossroads of technology, entertainment, and gaming. The company’s reach today spans image sens

March 27, 2025

German envoy in Seoul discusses 'Zeitenwende'

SEOUL, March 26 (AJP) - The German Embassy in Seoul held a casual gathering with reporters on Tuesday to provide insights on various global issues while discussing topics related to Berlin's key policies and long-term vision for the future. At his official residence in Seoul, German Ambassador Georg Schmidt began his talks by raising "Zeitenwende," which literally means "historic turning point." The term was first brought up by Chancellor Olaf Scholz, just th

March 26, 2025

LG Electronics ready to expand US production if Mexico faces tariffs

SEOUL, March 26 (AJP) - LG Electronics is prepared to swiftly scale up production at its U.S. manufacturing facilities should the Trump administration impose new tariffs on Mexico, a key manufacturing base for the South Korean electronics giant, its CEO said. “As a last resort against tariffs, we have prepared the Tennessee factory site to produce everything from refrigerators to ovens,” said Jo Joo-wan, LG’s chief executive, during the company’s annual sha

March 26, 2025

Opposition leader Lee Jae-myung acquitted in election law violation appeal

SEOUL, March 26 (AJP) - Lee Jae-myung, the leader of South Korea's main opposition Democratic Party and a leading presidential contender, cleared a major legal obstacle on Wednesday after being acquitted in an appeals trial for violating the Public Official Election Act. The Seoul High Court overturned a lower court ruling that had sentenced Lee to one year in prison with a two-year suspension for allegedly spreading false information during the 2021 presidential primary. L

March 26, 2025

US intelligence chief raises alarms over North Korea's nuclear weapons ambitions

SEOUL, March 26 (AJP) - North Korea is "probably prepared to conduct another nuclear test on short notice," as the reclusive country has no intention of giving up its nuclear weapons program, a top U.S. intelligence official suggests. The comment came from U.S. Director of National Intelligence Tulsi Gabbard as she testified before the Senate Select Committee on Intelligence on Tuesday. "North Korean leader Kim Jong-un is pursuing stronger strategic and conventiona

March 26, 2025

PHOTOS: Wildfire threatens UNESCO heritage sites in Andong

SEOUL, March 26 (AJP) - Authorities are scrambling to protect two UNESCO World Heritage sites in Andong, North Gyeongsang Province, as a massive wildfire sends smoke billowing into the historic villages. Andong Hahoe Village and Byeongsan Seowon were engulfed in thick smoke on Wednesday morning, prompting a swift response from fire and forestry officials. Crews are deploying water cannons and other equipment to douse the villages and surrounding homes in an effort to prevent the fire from

March 26, 2025

MBK, Homeplus, Lotte Card under FTC probe

SEOUL, March 26 (AJP) - The Fair Trade Commission has launched an investigation into MBK Partners, Homeplus, and Lotte Card over allegations of unfair internal transactions, sources said Wednesday. Regulators dispatched investigators to the offices of the three companies on Tuesday to collect documents and other materials potentially related to violations of the country’s fair trade laws. At the center of the inquiry is whether Lotte Card offered preferential corporate ca

March 26, 2025

At least 24 dead as wildfires devastate southern South Korea

SEOUL, March 26 (AJP) - Massive wildfires in the southeastern part of the country have killed at least 24 people and injured more than two dozen as of Tuesday, with the death toll expected to rise further as firefighters continue to struggle to contain the blazes that began last week. The fires first broke out in Sancheong, South Gyeongsang Province last Friday, leaving four dead, and have since rapidly spread to nearby areas including Andong, Cheongsong, Uiseong, Yeongyang, and Yeo

March 26, 2025

Asia-Pacific Financial Forum explores financial strategies amid rising global polarization

SEOUL, March 26 (AJP) - The 2025 Asia-Pacific Financial Forum, hosted by Aju News Corporation, took place on Mar. 26 at the Westin Josun Hotel in Seoul, under the theme of "Second Presidency of Trump: Financial crises and opportunities in an era of global polarization." The forum brought together government officials, financial regulators, corporate leaders, and scholars to examine the shifting global economic landscape and its implications for South Korea.

March 26, 2025