Hyundai Motor marks 40 years in US as tariffs, EV rivals test growth strategy

SEOUL, December 29 (AJP) - Hyundai Motor will mark its 40th anniversary in the United States next year as it confronts a convergence of challenges, including a remaining 15 percent tariff, intensifying competition from Tesla and Chinese electric-vehicle makers, the expiration of subsidies and a rapidly evolving race in software-defined vehicles such as autonomous driving. Attention is focused on whether Hyundai Motor Group can navigate these pressures under the leadership of Cha

December 29, 2025

South Korea, US complete all joint drills postponed from last summer

SEOUL, December 29 (AJP) - The military has carried out all 22 joint field training with the U.S. that were rescheduled after being postponed in August, the Joint Chiefs of Staff (JCS) said on Monday. Those drills were among about 40 exercises that are part of the annual Ulchi Freedom Shield (UFS) exercise, aimed at maintaining a combined defense posture, including combined tactical airborne training, rescue operations, equipment maintenance, and live-fire drills. According to

December 29, 2025

Coupang's $1.2 bn compensation plan suspected as marketing, not atonement

SEOUL, December 29 (AJP) -Already in the hot seat for what many see as a dismissive attitude toward consumers and regulators, Coupang has drawn fresh public backlash in South Korea with its $1.2 billion compensation plan widely seen as marketing tactic to retain customers rather than offering genuine redress. The e-commerce giant said Monday it would distribute 1.685 trillion won worth of purchase vouchers to 33.7 million current, former and withdrawn users whose personal informat

December 29, 2025

NewJeans full comeback ruled out after Danielle's exit

SEOUL, December 29 (AJP) - ADOR confirmed Monday that K-pop girl group NewJeans members Minji and Hanni will resume activities under the agency, while Danielle has been notified of the termination of her exclusive contract, to finalize a four-member return for the K-pop sensation. According to the agency, “Hanni recently visited Korea with her family and had extensive talks with ADOR, during which she had time to review the events leading up to the dispute.” Following

December 29, 2025

Lee begins work at Cheong Wa Dae as presidential office moves back

SEOUL, December 29 (AJP) - President Lee Jae-myung worked his first day at Cheong Wa Dae on Monday as the presidential office moved back to the sprawling presidential compound in central Seoul. The relocation comes about 1,330 days after the office moved to Yongsan in May 2022 with the inauguration of his predecessor Yoon Suk Yeol, who was impeached over his Dec. 3 declaration of martial law last year. Lee arrived there at about 9 a.m., greeted by supporters who gathered outsid

December 29, 2025

KAIST team develops one-second powder to stop battlefield bleeding

SEOUL, December 29 (AJP) - Researchers at the Korea Advanced Institute of Science and Technology have developed a powder-based hemostatic agent that can stop heavy bleeding within approximately one second of contact. The technology is designed to improve the survival rates of soldiers in combat environments where excessive blood loss is the leading cause of death. The Korea Advanced Institute of Science and Technology (KAIST) announced on December 29 that a joint research team led

December 29, 2025

Budget minister nominee defines Korea under near-term perfect storm

SEOUL, December 29 (AJP) -Lee Hye-hoon, a former three-term opposition lawmaker and economist tapped as the inaugural Minister of Planning and Budget, on Monday described the South Korean economy under a near-term "perfect storm", requiring a fundamental rethink of government spending priorities are set. “We need an approach that finds and eliminates unnecessary spending, while investing boldly in people’s livelihoods and growth,” Lee said a

December 29, 2025

Celltrion wins FDA nod for phase 1 trial of bispecific antibody cancer drug

SEOUL, December 29 (AJP) - Celltrion said Monday it has secured U.S. Food and Drug Administration (FDA) approval to begin a phase 1 clinical trial of CT-P72/ABP-102, a bispecific antibody drug designed to treat HER2-expressing solid tumors. The drug, co-developed with U.S.-based Abpro, employs a T-cell engager mechanism that links immune cells directly to cancer cells expressing the HER2 protein. Celltrion plans to begin dosing patients next year following preparatory procedures, ac

December 29, 2025

Coupang offers compensation to 33.7 million users over data breach

SEOUL, December 29 (AJP) - Coupang will compensate its users over a massive data breach, the e-commerce giant said on Monday. Starting mid-January, the U.S.-listed company will distribute 1.68 trillion Korean won (US$1.17 billion) in compensation, providing 50,000 won in purchase vouchers per person to paid Wow subscribers, regular users, and former customers who have closed their accounts. The voucher package, set to be distributed on Jan. 15, includes 5,000 won each for Coupang

December 29, 2025

Trading in dollar-pegged stablecoins surges as won weakens

SEOUL, December 29 (AJP) - As the Korean won weakens against the greenback, trading in dollar-pegged stablecoins has surged, with volumes growing 2.4-fold over the past three months. Rising demand for dollars for overseas investment has boosted trading in stablecoins that can serve as a dollar substitute. According to data from the Bank of Korea, stablecoin trading rebounded sharply after hitting a low in June. Monthly trading value for dollar stablecoins (USDT, USDC and USDS) ac

December 29, 2025