Lotte Cinema, Megabox agree to merge, challenging CGV

SEOUL, May 8 (AJP) - South Korea’s second- and third-largest cinema operators, Lotte Cinema and Megabox JoongAng, have agreed to merge, forming a formidable new entity poised to reshape the nation’s film exhibition landscape. JoongAng Holdings, the parent company of Megabox, announced on Thursday that it had signed a memorandum of understanding (MOU) with Lotte Group to combine their film-related subsidiaries: Megabox JoongAng and Lotte Cultureworks, which oversees Lotte

May 8, 2025

INTERVIEW : Korean Cultural Center in Abu Dhabi to celebrate 10 years of building bridges with UAE

SEOUL, May 8 (AJP) - Nestled at the eastern end of the Arabian Peninsula, the United Arab Emirates (UAE) is a country where Islamic culture coexists with modern architecture and cutting-edge global trends. Surrounded by an exotic landscape where deserts meet futuristic skylines, the Korean Cultural Center in Abu Dhabi serves as a cultural bridge between the two countries. Established in 2016, it was the first of its kind in the Middle East, venturing into this uncharted, un

May 8, 2025

Korea to launch QR-based cross-border payment system, starting with Indonesia

SEOUL, May 08 (AJP) - The Korea Financial Telecommunications and Clearings Institute (KFTC) will establish a digital hub for cross-border retail payments using QR codes, with a pilot launch slated for Indonesia by year’s end. Speaking at the annual meeting of the Asian Development Bank in Milan, KFTC President Park Jong-seok said the new system is designed to facilitate mobile-based transactions across borders, allowing consumers to make payments or withdraw local currency a

May 8, 2025

Korea, Czech deepen nuclear, tech ties despite court ruling delaying major deal

SEOUL, May 8 (AJP) - South Korea and the Czech Republic have signed a suite of bilateral agreements aimed at strengthening cooperation in nuclear energy and advanced technology sectors, even as a key contract for the construction of nuclear reactors was postponed by a Czech court ruling. In a two-day diplomatic visit led by South Korean Minister of Trade, Industry and Energy Ahn Duk-geun, the two countries signed 14 MOUs and cooperation agreements, underscoring a shared commitment

May 8, 2025

Clock ticking for PPP as internal rift stalls progress on unified conservative candidate

SEOUL, May 8 (AJP) - Tensions are escalating within the ruling People Power Party (PPP) as internal wrangling continues over fielding a unified conservative candidate, with the snap presidential election less than a month away. The PPP’s presidential nominee, Kim Moon-soo, had expressed a willingness to team up with former Prime Minister Han Duck-soo, who declared his presidential bid last week. However, Kim now appears to have changed his mind shortly after being chosen as th

May 8, 2025

Lee Jae-myung courts business leaders, pledging support for growth

SEOUL, May 8 (AJP) - Lee Jae-myung, the Democratic Party’s presidential candidate, met Thursday with leaders of South Korea’s major business groups, stressing the central role of the private sector in reviving the nation’s faltering economy. “Companies are at the center of economic revival,” Lee told a gathering at the Korea Chamber of Commerce and Industry in Seoul, which included the heads of five influential business federations. “The era wh

May 8, 2025

Han Duck-soo calls for unity and reform in presidential campaign

SEOUL, May 08 (AJP) - Former Prime Minister Han Duck-soo made a strong case for constitutional reform and conservative unity during a press conference at the Seoul Foreign Correspondents’ Club on Wednesday, saying he would rather fix the country’s broken political system than chase long-term power. “I'm not here to be just another candidate. I'm here because our system is in crisis,” Han said, speaking with a mix of urgency and conviction. “Wh

May 8, 2025

TRAVEL: Across a narrow strait, Daemado reveals layers of history

SEOUL, May 08 (AJP) - Though barely 30 miles from Busan, South Korea, the island of Tsushima, known to Koreans as Daemado, felt like a world away on my recent inaugural visit. A mere hour and forty minutes by ferry from Busan International Passenger Terminal on a placid sea, this Japanese outpost holds a unique position, geographically close to its neighbor yet steeped in a distinct history marked by centuries of intricate exchange. The island’s past is deeply intertwined with the Ko

May 8, 2025

North Korea and Belarus step up economic cooperation with Pyongyang meetings

SEOUL, May 08 (AJP)—North Korea welcomed a senior Belarusian delegation to Pyongyang this week, signaling growing ties between the two countries through a series of working-level talks and a formal banquet held on Tuesday. The Belarusian delegation will remain in North Korea until May 9. The visit, led by Belarusian Deputy Prime Minister Yuri Shuleiko, comes ahead of the third North Korea–Belarus Joint Committee on Trade and Economic Cooperation session, marking the fi

May 8, 2025

North Korea fires multiple ballistic missiles into East Sea

SEOUL, May 8 (AJP) - North Korea fired multiple short-range ballistic missiles into the East Sea on Thursday, according to military authorities here. The missiles were launched from the North's eastern coastal city of Wonsan at around 8:10 a.m. "We detected signs of the launch and closely monitored the situation," the Joint Chiefs of Staff (JCS) said. "We have also heightened surveillance in preparation for possible additional launches, maintaining close coordi

May 8, 2025