SK hynix union demands pay raise after record profits

SEOUL, May 30 (AJP) - SK hynix's union of technical and administrative workers is pushing for an 8.25 percent wage increase, following its best-ever sales performance last year, according to industry sources on Friday. The union and management held this year's first round of wage negotiations last Wednesday at the company's Icheon campus. The union's proposal includes raising the salary cap, expanding regular wages to cover vehicle maintenance and fuel costs, and

May 30, 2025

Int'l forum to tackle global challenges kicks off in Astana

SEOUL, May 29 (AJP) - A two-day international forum putting the spotlight on multilateral cooperation to tackle various global challenges and other issues is being held in Kazakhstan this week. The Astana International Forum (AIF) kicked off on Thursday in the Kazakh capital, bringing together over 1,000 participants including heads of state, business executives, renowned academics, and representatives from more than 70 countries. During the forum, over 100 ministerial o

May 29, 2025

Saltlux unveils new AI agent platform at annual forum

SEOUL, May 29 (AJP) -South Korean artificial intelligence company Saltlux introduced its latest suite of AI technologies on Thursday, showcasing ambitions to gain a stronger foothold in the intensifying global AI race. At its 20th annual AI conference, held at GS Tower in Seoul, the company unveiled LUXIA 3, a next-generation AI model comprising three core components: LUXIA3 LLM for language generation and understanding, LUXIA3 Deep for advanced reasoning and decision-making, and

May 29, 2025

PHOTOS: Hidden treasures of Mount Daedeok highlands

SEOUL, May 29 (AJP) - On a May morning, under an overcast sky, I began an ascent toward Bunburyeong Peak on Mount Daedeok in Taebaek, Gangwon Province. The air at Dumundongjae, my starting point, felt sharply cold, reminiscent of late autumn. Layering a windbreaker over my rain gear provided a necessary warmth. As the trail commenced, bright yellow wild celandine emerged, blanketing the ground. While the trees above were still tentatively unfurling lime-green shoots, the

May 29, 2025

Four dead after Navy patrol plane crashes in Pohang shortly after takeoff

SEOUL, May 29 (AJP) - A patrol aircraft with four people aboard crashed on a mountain in the southeastern city of Pohang on Thursday, according to military authorities. "A P-3 maritime patrol aircraft crashed several minutes after taking off from an air base in Pohang for training at around 1:40 p.m. due to unidentified reasons," the Navy said in a statement. The Navy is investigating further details including the exact cause of the crash. Firefighters were immediately

May 29, 2025

US Embassy in Seoul halts new interviews ahead of impending stricter student visa policy

SEOUL, May 29 (AJP) - The U.S. Embassy in Seoul has reportedly halted the scheduling of new interviews for student visa applicants. This appears to be related to reports that the U.S. government has instructed its embassies and consular offices overseas to temporarily suspend such procedures as it prepares to mandate social media screening for students planning to study in the U.S. The embassy's website no longer shows available dates for those seeking to schedule interviews

May 29, 2025

GM Korea to sell local facilities, reigniting withdrawal concerns

SEOUL, May 29 (AJP) - General Motors plans to sell a number of its service centers and underused production facilities in South Korea in a bid to streamline operations, a move that has reignited concerns about the automaker’s long-term commitment to its Korean unit. This came just hours after GM’s U.S. headquarters unveiled a sweeping $888 million investment in its Tonawanda engine plant in Buffalo, N.Y., marking a renewed focus on internal combustion engine production i

May 29, 2025

Korean biotech firms eye share of expanding gene therapy market

SEOUL, May 29 (AJP) - South Korean biotechnology companies are stepping up efforts to stake a claim in the burgeoning global gene therapy market, which is projected to swell to approximately $366 billion by 2032, according to a new industry report. The Korea Biotechnology Industry Organization has released an analysis citing data from the market research firm MarketsandMarkets, projecting the sector will grow at a compound annual rate of 19.4 percent — rising from $72 billion

May 29, 2025

Bank of Korea slashes interest rates as growth outlook dims sharply

SEOUL, May 29 (AJP) - South Korea’s central bank lowered its benchmark interest rate by a quarter percentage point on Thursday, the latest in a series of moves aimed at propping up a flagging economy that is on track for its weakest performance in years. The Bank of Korea reduced the policy rate to 2.50 percent, its fourth cut in just seven months. The move comes amid mounting evidence of a slowdown, including a 0.2 percent contraction in gross domestic product during the firs

May 29, 2025

Early voting for next week's presidential election gets underway

SEOUL, May 29 (AJP) - Early voting for the upcoming presidential election began at about 3,500 polling stations nationwide on Thursday, as South Koreans prepare to head to the polls next week to elect the country's next president. The two-day early voting period runs through Friday, allowing voters to cast a ballot at any polling station nationwide between 6 a.m. and 6 p.m., regardless of their registered address, as long as they present a valid ID. Out of 44.39 million eligi

May 29, 2025