Offline retailers ramp up in-store brand strategy to weather slow consumption

SEOUL, April 11 (AJP) - In an effort to combat sluggish consumer spending and stay competitive against online shopping platforms, South Korea’s major offline retailers are increasingly turning to popular in-store brands to draw foot traffic. E-Mart, the country’s largest hypermarket chain, significantly expanded its in-store brand ratio from 30 percent to 70 percent when it reopened a megastore in the western port city of Incheon in March 2023, featuring well-known names

April 11, 2025

Jeju 4·3 Archives inscribed in UNESCO's Memory of the World program

SEOUL, April 11 (AJP) - The Jeju 4·3 Archives have been officially inscribed in UNESCO's Memory of the World program, marking global recognition of the historical tragedy and the island’s long journey toward truth, reconciliation, and remembrance. The decision was adopted during the 221st session of UNESCO’s Executive Board, held in Paris on Apr. 10 (local time). The listing, under the title “Revealing Truth: Jeju 4·3 Archives,” acknowledg

April 11, 2025

Studio Meta-K secures investment for advanced AI content production

SEOUL, April 10 (AJP) - Studio Meta-K, a South Korean technology startup specializing in artificial intelligence-powered media production, has raised 2 billion won, or approximately $13.7 million, in new funding from Korea Investment Partners, the company announced Thursday. The funds will be used to bolster the firm’s AI development initiatives, enhance content production infrastructure, and support the rollout of global marketing strategies, according to a company statement.

April 10, 2025

Stocks rally as tariff concerns ease

SEOUL, April 10 (AJP) - South Korean stocks soared on Thursday, recouping recent losses after President Donald Trump announced a 90-day postponement of planned tariffs. The benchmark KOSPI index surged 6.6 percent to close at 2,445.06, marking its strongest single-day gain in months. The tech-heavy KOSDAQ index also posted a robust advance, rising 5.97 percent to finish at 681.79. Foreign investors purchased roughly 1.1 trillion won ($753 million) worth of stocks and derivatives.

April 10, 2025

Constitutional Court rejects Justice Minister's impeachment over alleged martial law involvement

SEOUL, April 10 (AJP) - The Constitutional Court of Korea on Thursday unanimously dismissed the impeachment of Justice Minister Park Sung-jae over his alleged involvement in disgraced former President Yoon Suk Yeol's botched martial law debacle late last year. The court said it found "no evidence or other objective records" showing that Park aided Yoon's Dec. 3 declaration of martial law or tacitly supported it. With the ruling, Park was immediately reinstated,

April 10, 2025

Former PPP leader Han Dong-hoon declares presidential bid

SEOUL, April 10 (AJP) - Han Dong-hoon, former leader of the ruling People Power Party (PPP), declared his bid for the upcoming presidential election in front of the National Assembly in Seoul on Thursday. The snap election, scheduled for June 3, follows the Constitutional Court of Korea's unanimous decision last week to impeach disgraced former President Yoon Suk Yeol over his botched martial law debacle late last year. Taking a jab at Lee Jae-myung, former leader of the main

April 10, 2025

PHOTOS: Yoon Suk Yeol ouster leads to spike in Cheong Wa Dae visitors

SEOUL, April 10 (AJP) - Cheong Wa Dae, once the presidential office which opened to the public in May 2022 after the inauguration of former President Yoon Suk Yeol, is experiencing a sharp increase in visitors following the Constitutional Court's verdict to oust Yoon from office. The surge is attributed to two main factors. The impeachment protests that had gripped nearby areas like Gwanghwamun have ceased. Additionally, there is growing speculation that public access to the compound w

April 10, 2025

Kia to enter US pickup truck market

SEOUL, April 10 (AJP) - Kia Corp. announced Thursday it will invest 42 trillion won, or about $31.5 billion, over the next five years as it ramps up its transition to electric vehicles and expands its global manufacturing footprint. The investment, disclosed during the company’s annual CEO Investor Day, represents a 10 percent increase over Kia’s previous five-year plan and is aimed at boosting annual production capacity to 4.25 million vehicles by 2030. The figure avera

April 10, 2025

Kazakh Kurultai in Seoul brings together diaspora communities across Asia

SEOUL, April 10 (AJP) - The second Kurultai of Kazakhs in Asia was held in South Korea from Apr. 5 to 6, drawing over 200 participants from ethnic Kazakh communities in Korea, Malaysia, Japan, China, and Mongolia, the Embassy of Kazakhstan in the Republic of Korea said Wednesday. A Kurultai is a traditional assembly rooted in Turkic and Mongol cultures, historically convened to discuss important political, social, or cultural matters. In the modern context, the Kurultai serves as

April 10, 2025

Trump scales back tariffs for allies, escalates trade pressure on China

SEOUL, April 10 (AJP) - President Donald Trump abruptly scaled back his sweeping tariff plan on April 9, temporarily exempting about 70 countries from the brunt of his trade actions while dramatically escalating pressure on China with a punitive 125 percent tariff. The policy reversal came just 13 hours after the White House enacted a set of country-specific reciprocal tariffs that rattled global markets and drew criticism from U.S. allies. Under the revised framework, trading pa

April 10, 2025