PPP defends candidate switch as last resort, Kim calls move illegal political purge

SEOUL, May 10 (AJP) - The People Power Party (PPP) on Saturday defended its decision to revoke Kim Moon-soo’s presidential nomination and initiate the selection of former Prime Minister Han Duck-soo as its new candidate, describing the move as an emergency measure in response to failed unification talks and mounting internal division. The party’s leadership maintains that the action was legal. Speaking at a press conference at the National Assembly, PPP emergency committ

May 10, 2025

Kim Moon-soo calls PPP candidate switch a 'political coup,' vows legal fight

SEOUL, May 10 (AJP) - In a press conference held at 9:50 a.m. on Saturday, Kim Moon-soo condemned the People Power Party’s (PPP) early-morning decision to strip him of his presidential candidacy and replace him with former Prime Minister Han Duck-soo. Calling the move a “political coup,” Kim declared his intent to pursue legal and political action against party leaders and urged the public to stand with him in what he described as a fight to defend South Korea&rsquo

May 10, 2025

PPP moves to replace Kim Moon-soo with Han Duck-soo as presidential nominee

SEOUL, May 10 (AJP) - The People Power Party (PPP) launched an unprecedented candidate replacement process early Saturday morning, canceling Kim Moon-soo’s nomination and registering former Prime Minister Han Duck-soo as its new presidential candidate, following the collapse of unification talks between the two conservative contenders. At around 3 a.m. on May 10, PPP election committee chair Lee Yang-soo announced via the party's website that Han had been officially r

May 10, 2025

South Korea posts current account surplus for 23rd straight month

SEOUL, May 9 (AJP) - South Korea continued its current account surplus streak for the 23rd straight month, the Bank of Korea (BOK) said on Friday. According to preliminary data compiled by the central bank, the surplus reached around US$9.14 billion in March, up $2 billion from the previous month. Exports of goods rose slightly from a year earlier to around $59.31 billion, backed by a recovery in shipments of semiconductors and computer-related devices. Imports also went up more

May 9, 2025

BYD's compact SUVs top imported EV sales, but why are they hardly seen on the streets?

SEOUL, May 9 (AJP) - Chinese automaker BYD's Atto 3 has overtaken Tesla to become the best-selling model in the domestic imported electric vehicle market, according to data released by the Korea Automobile Importers and Distributors Association earlier this week. Some 543 units of the compact SUV were sold last month, narrowly surpassing the Tesla Model Y Long Range, which sold 533 units, followed by other Tesla models. Despite the feat, many motorists are baffled, as the veh

May 9, 2025

Naver posts mixed earnings results for 1st quarter

SEOUL, May 9 (AJP) - Naver posted robust first-quarter sales while its net profit fell, according to figures released by the South Korea's largest portal on Friday. Sales for the first three months of this year reached 2.79 trillion won (US$1.99 billion), up 10.3 percent from the same period last year, backed by steady growth across its diverse business sectors despite intensifying competition and challenges in emerging technologies including artificial intelligence (AI). Ope

May 9, 2025

Rising demand for data centers reshapes global real estate market, research reveals

SEOUL, May 9 (AJP) - A surge in global demand for data centers is significantly influencing the dynamics of the real estate market around the world, according to a recent analysis by Cushman & Wakefield. The global commercial real estate services firm compared data centers worldwide and found that development pipelines have reached historic levels this year, with North and South America driving market growth. Virginia stands at the forefront with ongoing development exceeding

May 9, 2025

Excitement builds early for New Pope's planned visit to Seoul

SEOUL, May 9 (AJP) - With a new pope elected to lead the Roman Catholic Church at the Vatican on Thursday, religious leaders and other faithful here are expressing high expectations. Although they may have to wait a few more years to see the new pope in person, excitement is already building ahead of his planned visit to Seoul in 2027. White smoke billowed from the chimney of the Sistine Chapel on the second day of the Vatican's conclave, attended by nearly 130 cardinals,

May 9, 2025

Riding tailwind of LNG Carriers, South Korea sets sights on lucrative next-generation liquid hydrogen carriers

SEOUL, May 9 (AJP) - Riding tailwind of LNG carrier sales, South Korea eyes lucrative next-generation liquid hydrogen carriers Amid heated competition with China for market dominance in global shipbuilding, South Korea is intensifying concerted efforts to develop liquid hydrogen carriers as the next lucrative frontier for the industry. The Ministry of Trade, Industry and Energy said on Friday that it has formed a task force for the development of liquid hydrogen carriers. Liqu

May 9, 2025

Kim and Han clash over timing, legitimacy in second unification talks

SEOUL, May 08 (AJP) - Presidential candidates Kim Moon-soo and Han Duck-soo met for a second round of unification talks on Thursday, but the discussion once again revealed sharp differences over the timing and terms of a potential single candidacy. The meeting, held at the National Assembly’s Sarangjae at 4:30 p.m., was fully open to the press by prior agreement between both camps. Han, an independent candidate and former prime minister, pushed for immediate resolution, s

May 8, 2025