Korea's exports to China hit 40-year low amid trade structure shifts

SEOUL, July 1 (AJU PRESS) - Korea's exports to China fell by 19.9 percent in 2023, marking the steepest decline in four decades, according to a report released by the Korea International Trade Association (KITA) on Monday. The trade balance with China also shifted to a deficit for the first time since 1992, reaching a record of 25 trillion won ($18.1 billion). The report attributes this significant shift to changes in both China's trade structure and Korean companies

July 1, 2024

Apple's new OLED iPads boost display makers' prospects

SEOUL, July 1 (AJU PRESS) - The launch of Apple's first iPad Pro models equipped with organic light-emitting diode (OLED) displays is set to boost the display market and the fortunes of key suppliers. Market research firm DSCC projects a 202 percent increase in OLED tablet unit sales and a 632 percent surge in revenue for 2024, driven by the new 11-inch and 13-inch iPad Pro devices. LG Display and Samsung Display are key providers of these advanced panels, each supplying 50

July 1, 2024

Korean regulator moves to sanction AliExpress for e-commerce law violations

SEOUL, July 1 (AJU PRESS) – The Korea Fair Trade Commission (KFTC) has launched formal proceedings to punish AliExpress, a subsidiary of the Chinese e-commerce giant Alibaba Group, for alleged violations of e-commerce laws. The regulator has recently sent a sanctions deliberation report to AliExpress Korea regarding its failure to properly register as an online shopping mall operator, according to industry sources on Monday. The KFTC says that while AliExpress Korea registe

July 1, 2024

Opinion: The most realistic way to replace Joe Biden as Democratic presidential nominee – allow him graceful exit

SEOUL, July 01 (AJU PRESS) - Within minutes of the conclusion of this week's presidential debate between Joe Biden and Donald Trump, it became clear to many that the 81-year-old Biden may not be capable of winning the general election in November. His inability to clearly communicate during the 90-minute debate earned harsh criticism from across the U.S. political spectrum, most notably among Democrats. Van Jones, a former official in the Obama administration and CNN analyst,

July 1, 2024

PHOTOS: Clogged storm drains worsen flood risks in Seoul

SEOUL, June 28 (AJU PRESS) - The bustling district of Gangnam in southern Seoul is notorious for recurrent flooding during the annual monsoon season. Apart from geographical factors, experts point to a more manageable issue: clogged storm drains. Specialists argue that debris-filled drains significantly impair the area's drainage efficiency. Litter and fallen leaves obstruct the system, increasing flood risks during heavy rains. A particular concern is the frequent disposal of cigarett

June 28, 2024

Fresh report reveals grave human rights abuses in N. Korea

SEOUL, June 28 (AJU PRESS) - The Ministry of Unification Thursday released an extensive report detailing North Korea's human rights abuses. The 482-page-long report, the second of its kind, aims to raise awareness about the egregious human rights violations in North Korea, similar to U.S. State Department's annual Country Reports on Human Rights Practices. This year's edition, compiled from over 150 new testimonies from North Korean defectors, provides a detailed a

June 28, 2024

Annual celebrations to spotlight women entrepreneurs next week

SEOUL, June 28 (AJU PRESS) - The government and business organizations will celebrate Women Entrepreneurship Week next week with various events highlighting the achievements and challenges of women business owners. The third annual festival will take place in Seoul and 18 other regions across the country from Monday to Friday, under the theme "K-Women Entrepreneurs: Opening New Opportunities on the World Stage." The government has designated the first week of July as W

June 28, 2024

S. Korea to keep eye on possible dispatch of N. Korean engineering forces to Ukraine

SEOUL, June 28 (AJU PRESS) - Following a series of news reports that North Korea could send engineering forces to Ukraine, South Korea's Ministry of Unification said Friday that it is keeping an eye on further developments. Last week, cable channel TV Chosun, citing an anonymous government official, reported that Pyongyang is likely to dispatch engineering forces to Ukraine's Donetsk Oblast, currently occupied by Russian forces, to engage in reconstruction projects there as

June 28, 2024

Chilean Embassy honors Pablo Neruda's literary legacy on 100th anniversary

SEOUL, June 28 (AJU PRESS) - An event marking the centennial of the publication of Pablo Neruda's poetry collection was held in Seodaemun, western Seoul on Thursday. Hosted by the Embassy of Chile to Korea, the event honored the renowned Chilean poet and reflected on his famous literary works, "Twenty Love Poems and a Song of Despair," which comprises 20 love poems. Ambassador of Chile to Korea Mathias Franke highlighted Neruda's literary achievements, saying, &

June 28, 2024

SK Group convenes strategy meeting amid restructuring plans

SEOUL, June 28 (AJU PRESS) - SK Group, South Korea's second-largest conglomerate, began a two-day top management meeting Friday to discuss growth strategies and subsidiary restructuring. About 30 executives, including CEOs from major subsidiaries including SK Corp., SK Innovation, SK Telecom and SK hynix, gathered at the SKMS Research Institute in Icheon. Chairman Chey Tae-won is participating via video conference from the U.S. The meeting aims to maximize investment in futur

June 28, 2024