President Lee Jae Myung urges patience in building trust with North Korea SEOUL, February 26 (AJP) - South Korean President Lee Jae Myung stated Thursday that long-standing hostility between the two Koreas cannot be erased with a single measure, responding to North Korean leader Kim Jong-un's speech from a day ago, which characterized Seoul's outreach as a "deception." During a meeting with senior secretaries at the presidential office, President Lee addressed Kim's report at the 9th Congress of the Workers' Party, in which t February 26, 2026

KAI to hold board meeting on new chief amid 'parachuting appointment' controversy SEOUL, February 26 (AJP) - The Korea Aerospace Industries (KAI) is scheduled to hold a board of directors meeting on Thursday to discuss the nomination of a former military official to lead South Korea's aerospace and defense powerhouse. The meeting follows a delay the previous day, when the board postponed tabling the appointment of the new chief executive officer after the company union launched protests against what it termed a "parachuting appointment" from the gov February 26, 2026

Household spending shrinks amid soaring inflation SEOUL, February 26 (AJP) - Consumer spending fell last year for the first time since the coronavirus pandemic, as high inflation led consumers to tighten their wallets, the Ministry of Data and Statistics said on Thursday. Spending dropped sharply on areas related to quality of life, such as clothing and recreational activities. Education-related expenditures also fell amid a shrinking school-age population. According to the ministry, the average monthly household spending was February 26, 2026

Korea's battery makers forge lithium alliance to counter China's grip SEOUL, February 26 (AJP) - POSCO Group and SK On have sealed a long-term lithium supply deal worth up to 25,000 tons through 2028, in the latest sign that South Korean battery players are locking arms to build a domestic supply chain capable of challenging China's stranglehold on the global battery market. Under the agreement announced Wednesday, POSCO Argentina will ship lithium extracted from the Salar del Hombre Muerto salt flat in Argentina's Salta province to SK On' February 26, 2026

BOK seen on extended hold as financial risks resurface SEOUL, February 26 (AJP) - Financial stability concerns have re-emerged as the decisive variable in South Korea’s monetary policy outlook this year as inflation and economic growth return to target range. The Bank of Korea’s Monetary Policy Board on Thursday unanimously kept the benchmark rate unchanged at 2.5 percent, where it has remained since the May 2025 cut. “With inflation expected to remain stable near the target level, economic growth is projected to February 26, 2026

Kookmin University selected for S. Korea's Seoul BRIDGE project to commercialize strategic technologies SEOUL, February 26 (AJP) - Kookmin University announced on Thursday that its Industry-Academic Cooperation Foundation has been selected for the Seoul BRIDGE project. The initiative is a key component of the Regional Innovation System and Education (RISE) framework, a project managed by the Seoul Metropolitan Government to align university research with regional economic needs. Through this selection, Kookmin University will receive 650 million won annually over the next four years February 26, 2026

South Korean director Park Chan-wook to lead jury at 79th Cannes Film Festival SEOUL, February 26 (AJP) - Korean film director Park Chan-wook will serve as jury president of the 79th Cannes Film Festival, organizers announced Thursday, marking another milestone in his long-standing relationship with the prestigious event. Park will chair the main competition jury responsible for selecting the Palme d'Or, the festival’s top prize. He is the first Korean filmmaker to preside over the Cannes jury. His ties to Cannes date back more than two decades. February 26, 2026

Suwon's UNESCO world heritage Banghwasuryujeong Pavilion SEOUL, February 26 (AJP) - Banghwasuryujeong Pavilion and Hwahongmun Gate stand as iconic symbols of Suwon's UNESCO World Heritage site, Hwaseong Fortress. Banghwasuryujeong Pavilion, meaning "a pavilion where one can enjoy flowers and willows while water flows," sits elegantly at the northeastern corner of Hwaseong Fortress. Built in 1794 during King Jeongjo's reign, this hexagonal pavilion offers stunning views where the fortress walls meet Suwonch February 26, 2026

Trendy living ideas from Seoul SEOUL, February 26 (AJP) -The 2026 Seoul Living Design Fair opened Wednesday at COEX in southern Seoul, transforming the cavernous exhibition halls into a playground of textures, light and ideas. Now in its 31st year, the country’s largest interior and lifestyle showcase returns under the theme “Sustainable Living and Design.” Organizers say around 450 domestic and international brands have joined this year’s edition — the biggest lineup yet. For f February 26, 2026

Celltrion ramps up US manufacturing to buffer against tariffs SEOUL, February 26 (AJP) - Biopharmaceutical company Celltrion said Thursday that it has taken steps to ensure its U.S. operations remain uninterrupted amid growing uncertainty over tariffs following a Supreme Court ruling last week. In a statement, Celltrion said it is ready to respond regardless of how tariff-related issues are resolved after the U.S. Supreme Court found U.S. President Donald Trump's sweeping global tariffs policy unlawful. Celltrion, which acquired U.S. February 26, 2026