Air Busan fire likely caused by power bank short circuit, forensic report finds

SEOUL, March 14 (AJP) - A fire that broke out aboard Air Busan flight BX391 at Gimhae International Airport on Jan 28 was likely triggered by a short circuit inside a portable battery pack, also known as a power bank, according to an investigation by the National Forensic Service (NFS). The Aviation and Railway Accident Investigation Board (ARAIB) under the Ministry of Land, Infrastructure, and Transport said Friday that forensic analysis revealed multiple traces of melted materia

March 14, 2025

US imports eggs from S. Korea for first time to help relieve severe domestic shortage

SEOUL, March 14 (AJP) - South Korea has begun exporting eggs to the United States for the first time, as a severe shortage drives American consumers to pay record prices, sometimes exceeding $10 a dozen. Gyerim Farm, an agricultural company based in Ansan, shipped 20 tons of eggs, or 335,160 individual eggs, to Georgia on March 7, marking a historic first in trade relations between the two countries, local officials said. The United States, grappling with an egg shortage that h

March 14, 2025

Gold prices soar to record high on trade war concerns

SEOUL, March 14 (AJP) - International gold prices breached the threshold of $3,000 per troy ounce on Friday, propelled by escalating trade tensions and investor anxiety stemming from the policies of the Trump administration. April gold futures on the New York Mercantile Exchange reached $3,000.5 per troy ounce as of 10:30 a.m. on Friday, a 0.31 percent increase from the previous session. Spot gold, meanwhile, had climbed 2.73 percent in the preceding five trading days, closing at $2

March 14, 2025

Trump signals willingness to reengage with North Korea

SEOUL, March 14 (AJP) - U.S. President Donald Trump on Thursday expressed his intention to reengage with North Korea, referring to its leader as a "nuclear power" once again. Speaking at the White House during a meeting with NATO Secretary-General Mark Rutte, Trump said, "I have a great relationship with Kim Jong-un and we'll see what happens, but certainly, he's a nuclear power." Kim "has a lot of nuclear weapons, by the way, a lot, and others do

March 14, 2025

Acting President vetoes opposition-led bill for probe into election irregularities

SEOUL, March 14 (AJP) - Acting President Choi Sang-mok on Friday vetoed a contentious opposition-backed bill that seeks to launch an independent investigation into alleged election-related irregularities and other illicit activities. The bill, passed by the Democratic Party-controlled parliament in late February, calls for a probe into allegations that Myung Tae-kyun, a self-proclaimed political broker, received a bribe from former ruling party lawmaker Kim Young-sun in exchange for

March 14, 2025

Korean banks report record profits

SEOUL, March 14 (AJP) - South Korean banks posted a record net profit of 22.4 trillion won ($16.5 billion) in 2024, a 5.5 percent increase from the previous year, according to data released on Friday by the Financial Supervisory Service (FSS). The regulator attributed the profit surge to a 3.1 trillion won reduction in loan-loss provisions, which offset expanded operating losses, including 1.4 trillion won in compensation costs tied to equity-linked securities. Interest income ros

March 14, 2025

Korean automakers face high stakes as US tariffs reshape industry

Editor's Note: This is the second in a series of stories examining how the Trump administration’s economic policies affect South Korea's key industries. From trade restrictions to shifting global supply chains, we explore the challenges businesses faced, how they adapted, and the lasting effects on the country’s economy. SEOUL, March 12 (AJP) - South Korean automakers are navigating a precarious juncture as President Donald Trump’s aggressive "friend-s

March 14, 2025

French songwriters to add unique flavor to K-pop through collaboration event in Seoul

SEOUL, March 13 (AJP) - Four emerging French songwriters will team up with South Korean music professionals in Seoul later this month for a new songwriting camp dedicated to K-pop. The weeklong program, titled Atelier K-POP, will run from March 24 to 29. It marks the first edition of the project jointly launched by the cultural department of the Embassy of France in the Republic Korea and the French National Center for Music (CNM), with support from France’s Ministry for E

March 13, 2025

Actor Kim Soo-hyun to address accusations over relationship with late actress

SEOUL, March 13 (AJP) - Actor Kim Soo-hyun will publicly respond to allegations concerning his relationship with the late actress Kim Sae-ron, who took her own life last month, his agency announced on Thursday. Kim, 37 years old, is one of South Korea's most popular actors, known for his roles in hit TV dramas like "My Love from the Star.” Kim Sae-ron, who gained fame as a child star in the 2010 crime noir "The Man from Nowhere," later struggled to maintain

March 13, 2025

HD Hyundai partners with Bill Gates' TerraPower for nuclear reactor business

SEOUL, March 13 (AJP) - HD Hyundai Heavy Industries, a subsidiary of HD Hyundai, has signed an agreement with TerraPower, a U.S.-based small modular reactor (SMR) company, to enhance the manufacturing supply chain for sodium-cooled reactors, the company announced on Thursday. The signing ceremony was attended by Chung Ki-sun, vice chairman of HD Hyundai; Won Kwang-sik, head of HD Hyundai Heavy Industries’ Ocean Energy Business Division; Bill Gates, founder of TerraPower; and

March 13, 2025