Opposition parties move to impeach Yoon after martial law fiasco

SEOUL, December 4 (AJP) - Some 191 lawmakers from six opposition parties including the main opposition Democratic Party and minor parties like the Rebuilding Korea Party and the New Reform Party submitted a motion on Wednesday to impeach President Yoon Suk Yeol, after his abrupt late-night declaration of martial law, which was ended in a chaotic overnight fiasco. By law, the National Assembly is required to vote on whether to impeach a president through a secret ballot within 72 hou

December 4, 2024

French Embassy honors promising young talents in Seoul

SEOUL, December 4 (AJP) - Young French talents here were awarded prizes at the French Embassy in Seoul on Tuesday. The creation of the prizes dedicated to young French talent in South Korea were proposed by Benjamin Joinau, Councillor for the French abroad, in order to highlight and encourage a number of young French people living in South Korea and active in the fields of research, business and education. Supported by the embassy and various French organizations such as the Fren

December 4, 2024

BOK to increase short-term liquidity to stabilize financial market

SEOUL, December 4 (AJP) - The Bank of Korea (BOK) announced on Thursday that it would increase short-term liquidity in the market by purchasing non-regular repurchase agreements (RPs). This move, aimed at stabilizing financial markets, comes after President Yoon Suk Yeol declared a state of martial law on Tuesday night. Typically, the BOK supplies liquidity through regular RP purchases. However, to address the extraordinary circumstances, the central bank expanded the range of

December 4, 2024

LG AI Research develops method to slash cancer diagnosis time

SEOUL, December 04 (AJP) - LG AI Research has developed a new pathology foundation model called “EXAONEPath” on Amazon Web Services (AWS) cloud infrastructure, capable of analyzing cancer tissue pathology images and reducing genetic testing time from two weeks to under one minute. The model, unveiled at AWS re:Invent 2024 in Las Vegas, achieved 86.1 percent average accuracy across six benchmarks for image patch classification. Built on AWS's SageMaker inference chi

December 4, 2024

Senior presidential aides in mass resignations after martial law fiasco

SEOUL, December 4 (AJP) - Key aides to President Yoon Suk Yeol, including his chief of staff, tendered their resignations on Wednesday, after the National Assembly voted the previous day to reject his abrupt declaration of martial law, the presidential office said on Wednesday. Among those who resigned were Chung Jin-suk, the president's chief of staff, National Security Adviser Shin Won-sik, and Sung Tae-yoon, the chief of staff for policy, and several other senior officials.

December 4, 2024

South Korean won plunges after martial law declaration, recovers slightly

SEOUL, December 4 (AJP) - The South Korean won tumbled to its weakest level since October 2022 after a brief martial law declaration rattled financial markets, with the currency hitting 1,442.0 won per dollar in early Asian trading on Wednesday. The won had partially recovered to 1,416.1 won per dollar by 10:10 a.m., after the martial law was lifted early in the morning, though market participants said volatility would likely persist amid heightened political uncertainty. Korean

December 4, 2024

Opposition party calls for Yoon's resignation over martial law declaration

SEOUL, December 4 (AJP) - The main opposition Democratic Party (DP) on Wednesday called for President Yoon Suk Yeol's immediate resignation, denouncing his abrupt late-night declaration of martial law, which was lifted shortly after as the National Assembly voted to reject it. In an emergency meeting at the National Assembly, the DP said it will soon begin impeachment proceedings if he refused to step down voluntarily. "Yoon's declaration of martial law is unconstitu

December 4, 2024

'AJP dedicated to amplifying Asia's voices, sharing Asia's stories'

SEOUL, December 4 (AJP) - Following is the AJP launch speech delivered by Aju News Corporation Chairman Kwak Young-kil during the news agency's launch ceremony in Seoul on Tuesday -- Ed. It is truly an honor to welcome you all here today as we celebrate the launch of AJP — a new chapter in journalism dedicated to Asia’s stories, values and aspirations. Our mission is clear: Amplifying Asia's Voices, Sharing Asia's Stories. We stand at a pivotal moment i

December 4, 2024

OPINION: Global markets are likely to withstand Trump-led US withdrawal from Paris Agreement

SEOUL, December 4 (AJP) - As the climate crisis deepens, the need for global action becomes greater than ever. Central to this effort is the goal of achieving net zero emissions by 2050, to meet the Paris Agreement to limit global warming. So far 145 countries, collectively responsible for 90 percent of emissions, have committed to net zero targets or are actively considering them. But what if countries withdraw from their commitments, as U.S. President-elect Donald Trump appears in

December 4, 2024

PHOTOS: Citizens cheer passage of resolution to lift martial law

SEOUL, December 04 (AJP) -Citizens gathered in front of the National Assembly building in Yeouido on Dec. 3 to protest the imposition of martial law and demand the restoration of democracy. Moments after lawmakers unanimously passed a resolution to lift martial law at about 1:00 a.m. on Dec 4, the crowd erupted into cheers, celebrating what many described as a victory for democratic values.

December 4, 2024