Trump suggests broader 'package' deal for defense cost-sharing along with trade issues

SEOUL, April 10 (AJP) - President Donald Trump apparently intends to leverage his sweeping tariff policy to address a broader range of issues, including trade and security concerns, with U.S. allies and other countries as part of a "package" deal, which he previously described as his "one-stop shopping" approach. When asked if Washington has any plans to withdraw or reduce its troops from Europe, Trump told journalists in the Oval Office on Wednesday, "It de

April 10, 2025

[UPDATE] Lee Jae-myung confirms presidential run, pledging to lead a 'real Korea' with K-Initiative vision

SEOUL, April 10 (AJP) - Lee Jae-myung, former leader of South Korea’s main opposition Democratic Party, officially declared his candidacy for president on Thursday, becoming the first prominent figure to launch a bid following the impeachment of President Yoon Suk Yeol. In a video message, Lee vowed to build a “real Korea” that leads the world under a new K-Initiative vision focused on economic growth, life-centered values, and diplomacy based on national interes

April 10, 2025

Presidential race heats up as key candidates declare bids

SEOUL, April 9 (AJP) - Political heavyweights and key figures are rushing into the upcoming presidential race to fill the power vacuum left by the ouster of disgraced former President Yoon Suk Yeol. The snap election, scheduled for June 3, follows the Constitutional Court of Korea's unanimous decision last week to impeach Yoon over his botched martial law debacle late last year. Lee Jae-myung, leader of the main opposition Democratic Party (DP), resigned from his post on Wedn

April 9, 2025

INTERVIEW: Peruvian envoy highlights APEC collaboration, green cooperation and cultural ties with Korea

SEOUL, April 09 (AJP) - Paul Duclos, Ambassador of Peru to South Korea, praised the evolving partnership between the two nations, describing it as “an excellent relationship that has adapted itself over time to changing bilateral and global interests.” In an interview held on Apr. 8, the ambassador reflected on over six decades of diplomatic ties, emphasized multilateral collaboration through Asia-Pacific Economic Cooperation (APEC), and detailed strategic areas for fu

April 9, 2025

From pizza to cream buns, baseball-themed treats soar

SEOUL, April 9 (AJP) - On a sunny April afternoon, the stands at Jamsil Baseball Stadium pulse with energy. Fans in team jerseys cheer between bites of cream-filled buns, and vendors weave through the crowd with boxes of limited-edition pizza shaped for one-handed snacking — perfect for keeping the other hand free to wave rally towels. This is baseball season in South Korea. But beyond the roar of the crowd and the crack of the bat, another game is unfolding — one being

April 9, 2025

US may seek renegotiation of USFK upkeep deal

SEOUL, April 9 (AJP) - There are growing speculations that the U.S. may seek to renegotiate its defense cost-sharing deal with South Korea for the upkeep of maintaining U.S. troops here. Shortly after his first telephone conversation with Acting President Han Duck-soo on Tuesday, U.S. President Donald Trump wrote on his social media platform that the two had discussed "payment for the big-time Military Protection provides to South Korea," among other

April 9, 2025

PHOTOS: Crime thriller 'Yadang: The Snitch' to hit theaters next week

SEOUL, April 09 (AJP) - The press screening and media conference for the upcoming crime action film Yadang: The Snitch took place on April 7 at Megabox COEX. Yadang: The Snitch delves into South Korea’s underground drug trade, weaving a tense narrative around three central figures: Yadang, a cunning broker who architects the nation’s illicit drug market; a driven prosecutor eager to climb the professional ladder; and a relentless detective who has devoted his career to

April 9, 2025

Fed may accelerate rate cuts as concerns over trade war mount

SEOUL, April 9 (AJP) - The U.S. Federal Reserve may move more swiftly to cut interest rates amid mounting concerns over a potential economic slowdown, a shift driven in part by the Trump administration’s tariff policy, according to the Bank of Korea said in a report. Several major investment banks, including Barclays, Goldman Sachs, Nomura, and Wells Fargo, have revised their outlooks to reflect a greater likelihood of rate reductions in 2025, the BOK's New York office sai

April 9, 2025

Korea's entry into global bond index delayed to April 2026

SEOUL, April 9 (AJP) - South Korea’s long-anticipated inclusion in the World Government Bond Index (WGBI) has been postponed by five months, delaying potential inflows of tens of billions of dollars into the country’s sovereign debt market. FTSE Russell, the index provider, announced that South Korea will now enter the benchmark index in April 2026, rather than the previously scheduled November 2025. "We commend the commitment of South Korean market authorities

April 9, 2025

Korean won tumbles to five-year low amid US tariff concerns

SEOUL, April 09 (AJP) - The value of South Korean won fell sharply against the U.S. dollar on Wednesday, reaching its lowest level in more than five years, as markets reacted to heightened uncertainty surrounding U.S. tariff policy. As of 9:15 a.m. the won was trading at 1,486.3 per dollar, up 13.0 won from the previous session’s closing price. The intraday spike marks the currency’s highest level since March 16, 2019, when it reached 1,492.0 during the global financia

April 9, 2025