Constitutional Court holds second hearing in impeachment trial with Yoon's absence

SEOUL, January 16 (AJP) - The Constitutional Court of Korea held the second hearing of President Yoon Suk Yeol's impeachment trial in Seoul on Thursday, after rejecting his earlier request to reschedule it. After the first hearing ended in just a few minutes earlier this week, Thursday's hearing proceeded with Yoon's absence once again. A court spokesperson told reporters, "After thorough discussion, the panel of justices unanimously decided to reject Yoon's

January 16, 2025

Korea moving to impose provisional tariff on Chinese stainless steel plates

SEOUL, January 16 (AJP) - The Korea Trade Commission (KTC) has proposed a provisional anti-dumping tariff of 21.62 percent on stainless steel plates imported from China, citing significant damage to domestic industries caused by low-cost Chinese imports. The decision, announced by the KTC under the Ministry of Trade, Industry and Energy on Thursday, comes in response to a formal complaint filed in June 2024 by South Korean steelmaker DKC. The company accused Chinese manufacturers of

January 16, 2025

PHOTOS: Snow transforms Korea into winter wonderland

SEOUL, January 16 (AJP) - A blanket of snow transformed Korea's southwestern region into a winter wonderland after heavy snowfall across South Jeolla Province last week.

January 16, 2025

Samsung Electronics, crown jewel of Korean economy, fights to stay ahead in chips, smartphones

Editor's Note: This article is the third installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, January 16 (AJP) - As Samsung Electronics, South Korea’s largest company and a bellwether of the nation’s economy, faces intensifying competition in AI chips and geopolitical uncertainties, it stands at a pivotal moment. How it responds in the comin

January 16, 2025

Ruling party now takes slim lead in latest poll

SEOUL, January 16 (AJP) - The ruling People Power Party (PPP) has slightly edged ahead of the main opposition Democratic Party (DP) in support ratings, recovering from a sharp drop in popularity after President Yoon Suk Yeol's botched martial law debacle last month. A survey of over 1,000 adults, by the National Barometer Survey (NBS) conducted earlier this week and released Thursday, found that about 35 percent supported the PPP, up 3 percentage points from the previous week, w

January 16, 2025

Gender wage gap persists in South Korea as women earn 70 percent of men's pay

SEOUL, January 16 (AJP) - South Korea's wage gap between men and women showed gradual improvement in 2023, though disparities remain significant, according to the 2024 Women's Economic Activity White Paper released on Thursday. The paper, released by the Ministry of Gender Equality and Family and the Ministry of Employment and Labor, showed women earned an average hourly wage of 18,502 won ($14) in 2023 - 71 percent of the 26,042 won ($20) earned by men. While progress is

January 16, 2025

Korea Zinc technicians vow to leave company if Young Poong-MBK bid succeeds

SEOUL, January 16 (AJP) - A group of core technicians and researchers at South Korea's largest zinc smelter Korea Zinc vowed on Thursday to resign if a hostile takeover bid by Young Poong and private equity firm MBK Partners succeeds. The announcement, led by Chief Technology Officer and Vice Chairman Lee Je-joong, comes just a week ahead of a pivotal shareholders’ meeting on Jan. 23, where the fate of the takeover will be decided. “We strongly oppose the hostile

January 16, 2025

North Korean leader 'relies on nuclear weapons to maintain power,' US secretary of State nominee says

SEOUL, January 16 (AJP) - North Korean leader Kim Jong-un uses nuclear weapons as a means of maintaining his grip on power, a nominee for U.S. Secretary of State said on Wednesday. During his confirmation hearing before the Senate Committee on Foreign Relations, Marco Rubio described Kim as "a 40-something-year-old dictator who has to figure out how to hold down to power for the rest of his life," adding that "he has used nuclear weapons as his insurance policy to sta

January 16, 2025

Chinese tech, auto giants seek expansion in Korea with aggressive pricing strategies

SEOUL, January 16 (AJP) - China’s BYD and Xiaomi have announced plans to enter the highly competitive Korean markets, aiming to challenge the dominance of local giants with aggressively priced electric vehicles and consumer electronics. BYD, the world’s largest electric vehicle manufacturer by sales, unveiled its strategy, Thursday, to introduce four electric vehicle models in South Korea in 2025, targeting sales of 10,000 units. The rollout begins in February with

January 16, 2025

Korea unveils electric vehicles, battery subsidy plans

SEOUL, January 16 (AJP) - South Korea announced a 1.5 trillion won ($1.03 billion) subsidy program for electric vehicles (EVs) and a 7.9 trillion won ($6.8 billion) financial package for its secondary battery industry. This aims to revive its eco-friendly vehicle market amid a temporary downturn and prepare for policy uncertainties under the second Trump administration in the United States. The measures, revealed by the Ministry of Trade, Industry and Energy on Wednesday during a

January 16, 2025