Energy storage setback deepens woes for South Korean battery makers

SEOUL, April 2 (AJP) - South Korean battery manufacturers are confronting a sharp downturn in their energy storage system (ESS) divisions, compounding the challenges of an electric vehicle market slowdown, industry analysts said Wednesday. LG Energy Solution is projected to see ESS revenue fall by more than 40 percent from the previous quarter, with estimates placing the figure between 353 billion and 363 billion won ($240 million to $247 million), according to multiple securities f

April 2, 2025

Voters go to polls in local by-elections

SEOUL, April 2 (AJP) - Voters cast their ballots in by-elections on Wednesday to fill vacant posts in several cities and local provinces on Wednesday at some 1,500 polling stations across the country. The low-key elections come just two days before the Constitutional Court of Korea's decision on the fate of President Yoon Suk Yeol's impeachment trial later this week over his botched Dec. 3 declaration of martial law, drawing attention as they could serve as a gauge of public

April 2, 2025

Leadership void leaves Korea vulnerable to Trump's tariff offensive

SEOUL, April 2 (AJP) - U.S. President Donald Trump is poised to unveil a sweeping set of reciprocal tariffs on Thursday in a White House ceremony he has branded "Liberation Day," a move that could have profound economic repercussions for export-driven nations like South Korea. The policy, scheduled for announcement at 3 a.m. in the Rose Garden, would impose duties on foreign imports equivalent to those levied by other nations on American goods. The measure could deliver

April 2, 2025

Justice Ministry considers long-term residency for Indonesian fisherman who rescued elderly from wildfire

SEOUL, April 02 (AJP) - South Korea’s Ministry of Justice announced Monday that it is reviewing the possibility of granting long-term residency to Sugianto, a 31-year-old Indonesian national who helped rescue elderly residents during a deadly wildfire in North Gyeongsang Province in late March. The ministry said it is considering offering Sugianto an F-2 visa, a long-term residency status that can be granted to individuals who have made special contributions to South Korea.

April 2, 2025

Korea's top financial regulator signals resignation over commercial law dispute

SEOUL, April 2 (AJP) - Financial Supervisory Service chief Lee Bok-hyun said Wednesday that he had expressed his intention to resign following a dispute over a proposed amendment to the country’s commercial law. Lee’s announcement, made during a radio interview, follows his previous vow to stake his position on opposing the presidential veto of the controversial amendments to the Commercial Act. That veto was exercised on Tuesday by Acting President Han Duck-soo during a

April 2, 2025

PHOTOS: Spring flowers delight citizens

SEOUL, April 01 (AJP) - Cherry blossoms and forsythia, harbingers of spring, are in full bloom everywhere. We've gathered a collection of spring flowers in full bloom across the country.

April 1, 2025

Trump suggests US is in 'communication' with North Korea

SEOUL, April 1 (AJP) - U.S. President Donald Trump said Monday that there is "communication" with North Korean leader Kim Jong-un, hinting at his willingness to engage with the reclusive country. "We have a great relationship, and..... there is communication," he told reporters at the White House, without providing further details. But when asked whether he plans to reach out to Kim, he said, "I will probably do something at some point." Recal

April 1, 2025

Korean won falls to 15-year low amid political uncertainty

SEOUL, April 1 (AJP) - The South Korean won fell to its lowest level against the U.S. dollar in more than 15 years, closing at 1,472.90 won per dollar, Monday as political uncertainty weighed on investor sentiment. The currency showed a modest recovery in early Tuesday trading. As of 1:30 p.m. on Tuesday, the won was trading at 1,470.60 per dollar, down 0.16 percent from Monday’s close but still 0.8 percent above the monthly average of 1,457.60. “The won’s recen

April 1, 2025

Constitutional Court of Korea to decide on Yoon's impeachment this Friday

SEOUL, April 1 (AJP) - The Constitutional Court of Korea on Tuesday said it will deliver its ruling on the fate of President Yoon Suk Yeol later this week, about four months after the National Assembly voted to impeach him in mid-December last year. The highest court's eight judges, who finally set the ruling date after more than a month of deliberation following Yoon's final hearing over his botched Dec. 3 declaration of martial law, told reporters that the ruling will be b

April 1, 2025

Japanese Encephalitis alert issued

SEOUL, April 1 (AJP) - With a forecasted long summer amid unseasonably hot spring weather in some southern regions, a nationwide alert for Japanese encephalitis has been issued as mosquito activity is expected to rise. The alert came after the Korea Disease Control and Prevention Agency (KDCA) found that samples of the specific species of mosquitos transmitting the disease were detected for the first time this year in Jeju and South Jeolla Province last week. Japanese encephaliti

April 1, 2025