South Korea unveils new homegrown interceptor missile system

SEOUL, November 29 (AJP) - South Korea's latest homegrown long-range surface-to-air missile (L-SAM) system was unveiled at an event in Daejeon on Friday. Hosted by the Agency for Defense Development (ADD), the event celebrated the completion of the interceptor missile system, which is capable of shooting down incoming enemy ballistic missiles at higher altitudes. Starting development in 2015 with a cost of 1.2 trillion won (US$910 million), the L-SAM is a key component of Sou

November 29, 2024

Indonesia, Thailand hit by deadly floods, thousands displaced

SEOUL, November 29 (AJP) - Heavy rains and landslides have claimed 27 lives in Indonesia's North Sumatra over the past week, with the latest incident on Thursday killing seven people when a tourist bus was hit by falling trees and mud, local authorities reported. Thailand's disaster agency said torrential rains have submerged more than 136,000 households across seven southern provinces including Narathiwat, Yala, Pattani, and Songkhla, with Narathiwat province recording 1,

November 29, 2024

Tariff cuts not main cause for Korea trade deficit: US Congress

SEOUL, November 29 (AJP) - A recent report by the U.S. Congressional Research Service (CRS) suggests that the Korea-U.S. Free Trade Agreement (KORUS FTA) has not been the primary driver of the growing U.S. trade deficit with South Korea. The report, titled "U.S.-South Korea FTA and Bilateral Trade Relations," states that while the U.S. trade deficit with Korea has fluctuated since the FTA's implementation in 2012, it has not been directly correlated with tariff reducti

November 29, 2024

Merger of Korean Air, Asiana Airlines expected next month

SEOUL, November 29 (AJP) - The long-awaited merger between Korean Air and Asiana Airlines is poised to finalize next month, following the European Union's final approval. The European Commission announced Thursday that all conditions for the merger have been met, concluding the review process. With this, 13 of the 14 countries involved in the review have given their green light. The United States is the sole remaining country to provide a decision. Unlike other competition

November 29, 2024

Türkiye welcomes Omani Sultan in first-ever state visit

SEOUL, November 29 (AJP) - Turkish President Recep Tayyip Erdoğan welcomed Sultan Haitham bin Tariq Al Said of Oman to Ankara on Thursday in a historic first state visit from Oman to Türkiye. "This is the first-ever visit at the level of head of state from Oman to Türkiye,” Erdoğan said. He emphasized the deep historical ties between the nations and pledged to strengthen relations in areas including trade, health, agriculture, and defense. During the visi

November 29, 2024

Cold snap grips nation after heavy snowfall

SEOUL, November 29 (AJP) - Temperatures plummeted nationwide on Friday morning, falling below zero in most areas. The mercury dropped sharply after the season's first snow hit the country earlier this week, bringing the heaviest November snowfall in about a century. According to the Korean Meteorological Administration (KMA), the morning lows dipped more than five to ten degrees lower than the previous day, with -3.4 degrees Celsius in Seoul, -2.8 degrees in Incheon, -5.2 deg

November 29, 2024

India's Reliance Industries acquires 21% stake in US-based Wavetech Helium

SEOUL, November 29 (AJP) - India's Reliance Industries has acquired a 21-percent stake in Wavetech Helium, a U.S.-based helium production company. Reliance Finance and Investments USA announced Thursday that it purchased the stake for around $12 million. Reliance Group operates the world's largest refinery in Jamnagar, Gujarat, western India. In 2021, the Indian conglomerate announced plans to invest $10 billion in green energy and achieve net-zero emissions by 2035.

November 29, 2024

Japan names former currency chief Kanda as ADB president

SEOUL, November 29 (AJP) - Japan's former top currency diplomat Masato Kanda will serve as the next president of the Asian Development Bank (ADB), following his selection by the bank's board of governors, the Manila-based institution said. Kanda, 59, who currently serves as a special adviser to Japan's prime minister, will assume the role as the bank's 11th president on Feb. 24, 2025, succeeding Masatsugu Asakawa. The appointment on Thursday maintains Japan's

November 29, 2024

Remains of over 40 Chinese soldiers died in Korean War return home

SEOUL, November 29 (AJP) - The remains of 43 Chinese People's Volunteers (CPV) soldiers who died during the Korean War (1950–1953) were returned to China on Thursday from South Korea. A Chinese People's Liberation Army aircraft, carrying the remains and 495 personal items belonging to the soldiers, landed at Shenyang's Taoxian International Airport at 12:07 p.m. The landing was marked by a water cannon salute. Soldiers carried the caskets from the plane, followe

November 29, 2024

OPINION: Ceasefires are not panacea. Here are 4 reasons to be concerned about Israel-Hezbollah deal

SEOUL, November 29 (AJP) - The announcement of a ceasefire deal between Israel and Hezbollah is welcome news for a region torn apart by more than a year of warfare. Hopefully when implemented, the ceasefire will offer some respite for both Lebanese and Israeli civilians. The deal came into effect at 4 a.m. local time on Wednesday. However, the previous 24–48 hours had seen a dramatic increase in violence on both sides. This is part of a well-established pattern in warfare in w

November 29, 2024