Asian shares lower early Thursday, Korea flat on rate freeze

SEOUL, October 23 (AJP) - Asian markets opened lower Thursday as investors locked in profits following Wall Street’s overnight decline, though a few selective gainers held their ground. In Seoul, the main indices hovered near flat after the Bank of Korea kept its policy rate unchanged for a sixth consecutive month, underscoring the complex uncertainties weighing on the economy. The KOSPI inched up 0.1 percent to 3,888.2, while the KOSDAQ was little changed at 879.24. SK h

October 23, 2025

HOT STOCK: Hanwha Ocean surges on LNG boom, defense tech spotlight

SEOUL, October 23 (AJP) - Shares of Hanwha Ocean are sailing full speed ahead, buoyed by a swelling orderbook for liquefied natural gas (LNG) carriers and upbeat earnings expectations. The stock traded 3.7 percent higher at 137,100 won ($95) as of 10:15 a.m. Thursday in Seoul, after soaring nearly 10 percent the previous day. Hanwha Ocean has gained more than 20 percent so far this month, reflecting investor optimism over robust third-quarter results and sustained global demand for

October 23, 2025

LG CNS donates AI legal support system for refugees to UNHCR

SEOUL, October 23 (AJP) - LG CNS has donated an artificial intelligence–based legal support system to the United Nations High Commissioner for Refugees (UNHCR) to improve legal assistance for refugees in South Korea. The system, developed jointly by LG CNS and UNHCR, was officially handed over during a ceremony in Seoul on Oct. 17, attended by LG CNS President Hyun Shin-kyun and UN High Commissioner for Refugees Filippo Grandi. The AI system — named Agentic Works

October 23, 2025

South Korea, US to soon begin talks on revising nuclear energy pact, FM says

SEOUL, October 23 (AJP) - Along with ongoing tariff-related negotiations, South Korea will soon begin talks with the U.S. to revise the bilateral nuclear energy pact, which currently prevents Seoul from reprocessing its spent nuclear fuel, Foreign Minister Cho Hyun said on Thursday. He made the comments during a radio interview, confirming that some consensus has been reached on revising the decades-long pact and that relevant discussions will take place soon as part of broader se

October 23, 2025

LG Electronics to expand automotive software business

SEOUL, October 23 (AJP) - LG Electronics said Thursday that it has joined SDVerse, a global automotive software marketplace established by General Motors, Magna, and Wipro — a move that underscores the South Korean company’s growing ambitions in vehicle software. Billed as the industry’s first open marketplace for automotive software, SDVerse brings together automakers, Tier 1 suppliers, and developers to accelerate software innovation across the mobility sec

October 23, 2025

Bank of Korea holds rate steady at 2.5% amid FX, housing instability

SEOUL, October 23 (AJP) - The Bank of Korea kept its benchmark interest rate unchanged at 2.50 percent for October, maintaining its cautious stance amid continued volatility in foreign exchange and housing markets. The Monetary Policy Board decided to hold the overnight call rate steady for the sixth consecutive month, citing limited room for monetary easing as it monitors the impact of the pending Korea–U.S. trade deal linked to a $350 billion investment package and the gov

October 23, 2025

Taihan Cable & Solution expands South Africa plant to target region's growing power market

SEOUL, October 23 (AJP) - South Korea's Taihan Cable & Solution is expanding its manufacturing footprint in Africa as part of a broader effort to strengthen its competitiveness in the region’s growing power infrastructure market. The cable manufacturer held a ceremony on Oct. 22 to mark the expansion of its power cable plant in South Africa, operated by its subsidiary M-TEC. The project is designed to meet surging demand for medium- and low-voltage cables, which ac

October 23, 2025

Japanese director of Korean descent to visit Seoul next month to promote his hit film

SEOUL, October 23 (AJP) - Japanese film director and screenwriter of Zainichi Korean descent Lee Sang-il will visit Seoul next month. His visit, slated for mid-November to promote his latest film "National Treasure," also known as "Kokuho" comes ahead of its release in here on Nov. 19. The film, an adaptation of a novel by Shuichi Yoshida that chronicles the passionate lives of men devoted to art over half a century, was an instant hit in Japan shortly aft

October 23, 2025

North Korea says it tested 'cutting-edge weapon system'

SEOUL, October 23 (AJP) - North Korea has successfully test-fired hypersonic projectiles, state media reported Thursday, calling them a "new weapon system." The state-run Korean Central News Agency (KCNA) said "two hypersonic projectiles" were launched from areas near Pyongyang the previous day and "hit the target" in North Hamgyong Province. "The new weapon system was tested as part of the defense capability development program to enhan

October 23, 2025

Government push for real estate watchdog stirs debate in South Korea

SEOUL, October 23 (AJP) - The South Korean government is moving to create a new real estate oversight agency with investigative powers, a plan that has divided opinion among policymakers and industry experts. The Ministry of Land, Infrastructure and Transport said Thursday it is pushing for the establishment of the body under the Prime Minister’s Office to monitor illegal practices such as price manipulation, false listings, and fraudulent contracts. The proposed agency wo

October 23, 2025