Regulators raid MBK Partners in expanding Homeplus probe

SEOUL, August 27 (AJP) - South Korean financial regulators raided the Seoul headquarters of MBK Partners on Wednesday, intensifying a long-running inquiry into the private equity firm’s role in the financial troubles of Homeplus, one of the country’s largest discount retailers. Dozens of inspectors from the Financial Services Commission and the Financial Supervisory Service were dispatched to MBK’s Gwanghwamun office, officials said, as part of a joint probe into

August 27, 2025

[K-Pop] BTS' 'Fake Love' racks up over 1 billion streams on Spotify

SEOUL, August 27 (AJP) - Another song by K-pop juggernaut BTS has surpassed 1 billion streams on the world's largest streaming site Spotify, according to their management agency BigHit Music this week. "Fake Love" from their third full-length album "Love Yourself: Tear" reached the milestone last Sunday since its release in May 2018, becoming the septet's fifth song to do so after "Dynamite," "My Universe," "Butter," and &qu

August 27, 2025

More babies born outside marriage in S. Korea, reflecting possible shifts in family norms

SEOUL, August 27 (AJP) - South Korea recorded its highest proportion of children born outside marriage in 2024, reflecting a rapid shift in family structures in a country long defined by rigid norms around marriage and childbearing. About 13,800 babies — 5.8 percent of all births last year — were born to unmarried parents, according to data released Wednesday by Statistics Korea. While the share remains small compared with Western nations, it marks a sharp increase fr

August 27, 2025

Gwangju seeks to host national AI computing center

SEOUL, August 27 (AJP) - The city of Gwangju plans to launch a committee to host South Korea’s next national artificial intelligence computing center, a project that local officials hope will anchor the city’s ambitions to become the country’s premier AI hub. On Sept. 1, the city will hold a launch ceremony for the committee, a coalition spanning lawmakers, business groups, academics, media, religious figures and civil society organizations. The body is tasked wi

August 27, 2025

[K-Pop] K-pop anime becomes Netflix's most-watched movie

SEOUL, August 27 (AJP) - Netflix's South Korean anime "KPop Demon Hunters" has become the global streaming giant's most-watched movie. According to Netflix's ranking website Tudum, the animation has accumulated 236 million views since its release on June 20, taking the top spot in the platform's all-time movie rankings, which are calculated "based on total views in the first 91 days of release." American action thriller "Red Notice" c

August 27, 2025

In Philadelphia, Korean-owned shipyard becomes symbol of renewed US maritime ambitions

SEOUL, August 27 (AJP) - The clang of steel and the whistle of cranes at Hanwha Philly Shipyard carried more than the sound of shipbuilding on Tuesday (local time). For South Korea’s president Lee Jae Myung, the sprawling yard on the banks of the Delaware River has become a stage for something larger: a deepening partnership between Seoul and Washington that is being forged in steel, jobs and ships. Standing before a crowd of shipyard workers, state officials and Korean exe

August 27, 2025

KAIST and Princeton University launch Net-Zero Korea project

SEOUL, August 27 (AJP) - South Korea's prestigious research institute, the Korea Advanced Institute of Science & Technology (KAIST), and Princeton University have launched a joint initiative called Net-Zero Korea, aimed at helping South Korea accelerate its transition to carbon neutrality. The project was announced on August 27 at the World Climate Industry Expo in Busan. It will be led by Professor Jeon Hae-won at KAIST's Graduate School of Green Growth and Sustaina

August 27, 2025

Seoul brushes off Trump's call for ownership of Pyeongtaek base land

SEOUL, August 27 (AJP) - President Donald Trump startled Seoul Tuesday by suggesting the United States should own the land currently occupied by Camp Humphreys, the massive United States military base in Pyeongtaek, south of Seoul, that serves as the largest overseas American installation. During his summit with South Korean President Lee Jae Myung at the White House on August 25, Trump said, "Maybe one of the things I'd like to do is ask them to give us ownership of the

August 27, 2025

North Korea again denounces Lee over denuclearization

SEOUL, August 27 (AJP) - North Korea on Wednesday again denounced President Lee Jae Myung, dismissing remarks he made earlier this week during his trip to the U.S. In an op-ed carried by the state-run Korean Central News Agency (KCNA), it said Lee insulted North Korea by describing it as a "poor but fierce neighbor" while talking about the North's denuclearization, which it claimed "showed his true colors as a hypocrite to the whole world." Lee said the pr

August 27, 2025

[K-Defense] S. Korean shipbuilders shortlisted for Canada's $14 billion submarine program

SEOUL, August 27 (AJP) - A consortium led by South Korea’s two largest shipbuilders, Hanwha Ocean and HD Hyundai Heavy Industries, has been shortlisted to compete in Canada’s next-generation submarine acquisition program. This is a $14 billion defense project that could eventually swell to $43 billion over three decades when long-term maintenance and upgrades are included. Industry officials confirmed Wednesday that the two companies, bidding as a consortium, were s

August 27, 2025