Travel warnings, currency volatility hamper tourism recovery

SEOUL, December 10 (AJP) - South Korea's tourism industry is facing a significant setback as the nation grapples with political unrest following President Yoon Suk Yeol’s declaration of martial law on Dec. 3. The incident has sparked international concern and prompted travel warnings from several countries, including the United Kingdom, the United States, Canada, and New Zealand. The warnings, which advise citizens to avoid areas near major protest sites in Seoul, have

December 10, 2024

French Embassy celebrates cultural milestones and a bright future in Seoul

SEOUL, December 10 (AJP) - The French Embassy in Seoul hosted an evening reception on Monday to celebrate the launch of the French government’s global promotional campaign, "Make It Iconic." The event also highlighted the success of the 2024 Paris Olympics and the reopening of Notre Dame Cathedral. "Make It Iconic," an ambitious international campaign envisioned by French President Emmanuel Macron, officially launched in October. The campaign aims to en

December 10, 2024

Foreign investors pile into Naver amid market turmoil

SEOUL, December 10 (AJP) - South Korean tech giant Naver has bucked the trend of foreign investor sell-offs, attracting significant overseas interest in recent weeks. Data from the Korea Exchange reveals that foreign investors purchased Naver shares worth approximately 904 billion won ($633 million) over the past month. The company’s stock price has remained resilient, closing price on Tuesday at 209,000 won, up 3.72 percent from the previous day. This upward momentum has p

December 10, 2024

US reaffirms 'ironclad' alliance with South Korea

SEOUL, December 10 (AJP) - The U.S. on Monday reaffirmed its alliance with South Korea will remain "ironclad." "The alliance between the remains ironclad. We are committed to the peace and security of the Korean Peninsula, and we will continue to be," said State Department spokesperson Matthew Miller during a press briefing. "We will keep lines of communication open with all relevant parties in . The legal process and the poli

December 10, 2024

Telegram downloads surge in South Korea amid political uncertainty

SEOUL, December 10 (AJP) - New installations of Telegram messaging app in South Korea increased fourfold to 40,576 on Dec 3, accounting for 47.09 percent of all messenger app downloads that day, according to mobile analytics firm IGAWorks. The surge continued with 33,033 new installations the following day. The messaging platform, which typically ranked third or fourth in monthly downloads behind LINE and KakaoTalk, suddenly rose to first place in the messenger category and rea

December 10, 2024

South Korea keeps sovereign credit ratings despite martial law crisis

SEOUL, December 10 (AJP) - The Big Three global credit rating agencies have maintained South Korea's sovereign credit ratings despite the unprecedented declaration of martial law, citing the country's economic fundamentals and effective crisis management. Fitch Ratings maintained South Korea's rating at 'AA-' with a stable outlook, a grade it has kept since upgrading from 'A+' in 2012. Moody's and S&P Global Ratings also kept their ratings at '

December 10, 2024

Ex-defense chief to skip arrest warrant hearing over alleged collusion with Yoon

SEOUL, December 10 (AJP) - Former Defense Minister Kim Yong-hyun will not attend his arrest warrant hearing scheduled for Tuesday. Prosecutors requested his arrest warrant the previous day for allegedly conspiring with President Yoon Suk Yeol in the abrupt declaration of martial law that shook the nation last week. The warrant states that Kim allegedly colluded with Yoon to carry out the late-night mission last Tuesday, accusing him of abuse of authority and treason. Prosecuto

December 10, 2024

OPINION: Abu Mohammed al-Golani may become face of post-Assad Syria

SEOUL, December 10 (AJP) - The fall of President Bashar al-Assad has left a critical question: After a half-century of brutal dynastic rule has come to an end, who speaks for Syrians now? One group staking a major claim for that role is Hayat Tahrir al-Sham, which, under the leadership of Abu Mohammad al-Golani, spearheaded the opposition advance that toppled Assad. But what does the group stand for? And who is al-Golani? The Conversation turned to Sara Harmouch, an expert on Isl

December 10, 2024

Prosecutors seek arrest warrant for ex-defense chief over martial law declaration

SEOUL, December 9 (AJP) -- Seoul prosecutors on Monday requested a court warrant to arrest former Defense Minister Kim Yong-hyun in connection with the Dec. 3 martial law declaration. President Yoon Suk Yeol imposed martial law last Tuesday and sent armed forces to the National Assembly. The measure was canceled six hours later after the parliament voted against it. Kim, who allegedly played a key role in proposing and implementing the emergency decree, faces charges of insurrect

December 10, 2024

Korea's financial markets rattle amid political crisis

SEOUL, December 9 (AJP) - South Korea's financial markets took a sharp hit Monday as the nation grappled with political uncertainty following President Yoon Suk Yeol's martial law declaration last week. The Korean won tumbled against the U.S. dollar, nearing the 1,440 mark, and stock indices plunged to year-to-date lows. The won closed at 1,437 per dollar, marking its weakest level since October 2022. During intraday trading, the exchange rate reached 1,438.3, sparking

December 9, 2024