One in five Korean listed firms unable to pay interest with profit

SEOUL, February 07 (AJP) - Nearly one in five listed companies in South Korea is classified as a “marginal firm,” unable to cover interest payments with operating profits, according to a report from the Korea Enterprises Federation. As of the third quarter of 2024, 19.5 percent of the country’s 2,260 listed firms - equivalent to 440 companies - fell into this category. Marginal firms are defined as those with an interest coverage ratio below 1 for three consecut

February 7, 2025

Singer Song Dae-kwan dies of heart attack

SEOUL, February 7 (AJP) - Singer Song Dae-kwan died of a heart attack on Friday. He was at 78. According to his agency Starlineup Entertainment, Song, who had been hospitalized several times this year, felt unwell the day before and was rushed to a hospital, but died while receiving treatment. Making his debut in 1967, Song shot to fame with his iconic song "Sunny Day" in 1975, ending a decade-long period of obscurity. He remained popular among older fans, mostly with t

February 7, 2025

Webtoon-based anime 'True Beauty' to return with second season

SEOUL, February 7 (AJP) - Webtoon-based anime "True Beauty" will return with its second season, according to StudioN, an affiliate of South Korea's largest portal Naver. The anime, adapted from Naver's hit webtoon series by Lim Ju-kyung, known by her pen name Yaongyi, is expected to be available on American streaming platform Crunchyroll sometime this year, with an exact release date yet to be decided. When the first season was released in September last

February 7, 2025

New Zealand embassy in Seoul celebrates Waitangi Day

SEOUL, February 07 (AJP) - The New Zealand embassy in the Republic of Korea celebrated Waitangi Day, the country's national day, on Thursday at the ambassador's residence in Yongsan District. More than one hundred guests attended the event, including foreign diplomats, businesspeople, and professionals from various sectors. Waitangi Day, celebrated on February 6, commemorates the signing of the Treaty of Waitangi in 1840 between the British Crown and Māori chiefs, marking

February 7, 2025

Number of North Korean defectors slightly increases despite tighter border controls

A group of North Korean defectors arrive in Seoul, in this file photo from April 2016. Courtesy of the Ministry of Unification SEOUL, February 7 (AJP) - The number of North Korean defectors here reached 236 last year, up 20.4 percent from the previous year. The uptick was partly due to those who had been stranded in third countries during the coronavirus pandemic finally making their way to the South. According to the Ministry of Unification on Tuesday, some 26 of them were men, wh

February 7, 2025

Financial firms target wealthy seniors with expanded services

SEOUL, February 06 (AJP) - South Korean financial institutions are increasingly catering to the so-called "young-old" generation - affluent, healthy seniors in their 60s and 70s - by offering a range of specialized services, from estate planning to pet care management. Leading the trend in Asia, Mitsui Sumitomo Trust Group, the region’s largest trust bank, provides comprehensive services tailored to single elderly households, including funeral arrangements, digital

February 7, 2025

South Korean shipbuilders post first profits in 13 years

SEOUL, February 07 (AJP) - For the first time in over a decade, South Korea’s three major shipbuilders turned a collective operating profit in 2024, buoyed by a surge in high-value liquefied natural gas (LNG) carrier orders and a global ship-replacement cycle. Their combined operating profit reached 2.17 trillion won ($1.63 billion), marking a significant turnaround from years of losses. HD Korea Shipbuilding & Offshore Engineering led the resurgence, reporting an ope

February 7, 2025

PHOTOS: Heavy snowfall disrupts commute across South Korea

SEOUL, February 7 (AJP) - Heavy snowfall blanketed South Korea on the morning of Friday, disrupting the commute for many across the country. Similar conditions had affected the previous day's evening rush hour. Gyeongbokgung Palace in Seoul is covered in snow on Feb. 6, 2025. Yonhap A citizen walks through the snow near Gwanghwamun Square in Seoul on Feb. 6, 2025. Yonhap A parking lot at an apartment complex in Chuncheon is covered in snow on Feb. 7, 2025. Yonhap

February 7, 2025

Samsung Electronics launches global sale of Galaxy S25

SEOUL, February 07 (AJP) - Samsung Electronics began global rollout of its Galaxy S25 series smartphones across 120 countries Friday, following record-breaking domestic pre-orders of 1.3 million units in South Korea. The new flagship devices, featuring the company's latest AI platform One UI 7, will be released sequentially in major markets including the United States, United Kingdom, India, and Thailand. Google's Gemini AI support will expand to 46 languages with the laun

February 7, 2025

No damage reported after 3.1-magnitue quake rattles Chungju

SEOUL, February 7 (AJP) - An earthquake struck Chungju in North Chungcheong Province in the wee hours of Friday, waking some residents there in the middle of the night. According to the Korea Meteorological Administration (KMA), a magnitude 3.1 earthquake occurred at around 2:35 a.m. and the epicenter of the earthquake was 9 km northwest of Chungju in the province. No significant injuries or damage were reported, according to the Ministry of the Interior and Safety confirmed.

February 7, 2025