Korean firms face increased pressure from U.S. policy shifts

SEOUL, November 15 (AJP) - South Korean industries are growing increasingly anxious as U.S. policies, including the potential abolition of EV subsidies and re-designation of Korea as a currency manipulation watchlist country, threaten to intensify economic and trade pressures. The U.S. Department of the Treasury added seven countries -- China, Japan, Korea, Singapore, Taiwan, Vietnam and Germany -- to its semiannual list of currency manipulators under observation on Thursday, signal

November 15, 2024

PHOTOS: Pop-up store for Netflix series 'Arcane' dazzles visitors

SEOUL, November 15 (AJP) - A pop-up store featuring Netflix series "Arcane" opened in southern Seoul last week, coinciding with the release of its second season. "Arcane" is an animated steampunk action series based on the lore and characters of multi-player online game "League of Legends." The spacious area measuring 366 square meters at Shinsegae Department Store provides visitors with an opportunity to play games, including "Wild Rift," the mobile

November 15, 2024

OPINION: Trump's pick of Marco Rubio for foreign policy might be hopeful sign for NATO

SEOUL, November 15 (AJP) - Almost all of Donald Trump's nominees for critical positions within his presidential administration have been non-traditional. Fox News presenter Pete Hegseth was just named as Trump's possible defense secretary. Alongside Elon Musk, pharmaceutical company entrepreneur Vivek Ramaswamy has been tapped to lead a newly named Department of Government Efficiency. With little background in border protection, South Dakota governor Kristi Noem has been nom

November 15, 2024

Samsung Electronics plunges on Trump policies, AI chip woes

SEOUL, November 14 (AJP) - Samsung Electronics shares fell below 50,000 won ($38) for the first time in four and a half years on Thursday, amid concerns about its artificial intelligence chip business and uncertainties surrounding U.S. policies under a second Trump administration. The stock closed at 49,900 won, down 1.38 percent from the previous day, marking its lowest level since June 15, 2020. The plunge pushed the tech giant's market value to 297.89 trillion won. Foreign

November 14, 2024

PHOTOS: Over 520,000 students sit for college entrance exam

SEOUL, November 14 (AJP) - About 522,670 students took the annual university entrance exam at 1,282 test venues across the country on Thursday. Among them, some 161,784 were retakers, the highest in 21 years since 2004, as a growing number of candidates are seeking admission into medical schools following the government's plans to increase the admission quota for medical students. According to admissions officers and lecturers specializing in the annual exam, this year's test was e

November 14, 2024

Blockchain expert Michael Casey stresses need for building trust in digital assets

Michael Casey speaks during the Upbit D Conference held at the Shilla Hotel in Seoul on Nov. 14, 2024. AJP Han Jun-gu SEOUL, November 14 (AJP) - Michael Casey, chairman of the Decentralized AI Society (DAIS), emphasized the importance of establishing trust in digital assets on Thursday at a conference in Seoul. At the Upbit D Conference (UDC) 2024 held at a hotel in Seoul, Casey emphasized that a core issue in past financial crises was the breakdown of trust in institutions. He proposed

November 14, 2024

Another Korean descendant elected to US Congress

SEOUL, November 14 (AJP) - Democratic politician Dave Min won a U.S. House seat representing California on Wednesday. The American-born Korean descendant narrowly defeated his Republican rival Scott Baugh in the race for California's 47th congressional district in coastal Orange County, home to many South Korean immigrants. "I know many of us are anxious about the future of our country, but we cannot give up on America. In Congress, I will fight to protect our democracy,

November 14, 2024

Yoon embarks on South American trip for APEC and G20 summits

SEOUL, November 14 (AJP) - President Yoon Suk Yeol is embarking on his trip to South America on Thursday to attend the Asia-Pacific Economic Cooperation (APEC) summit in Peru and the G20 summit in Brazil. Yoon is set to deliver a speech at the first session of the summit among Pacific Lim countries in Lima on Friday as the incoming chair of next year's APEC summit. The historic city of Gyeongju in the southeastern province was selected to host the summit in 2025.

November 14, 2024

Young Poong, MBK file damages suit against Korea Zinc directors

SEOUL, November 14 (AJP) - Young Poong and MBK Partners have filed a lawsuit against Korea Zinc seeking about 700 billion won ($497.5 million) in damages for alleged financial mismanagement tied to an overpriced stock buyback and large public offering amid a battle over control of the world's largest smelter. According to legal sources on Thursday, Young Poong recently submitted a shareholder derivative lawsuit to the Seoul Central District Court, claiming Korea Zinc's direc

November 14, 2024

Korean shipbuilders vie for $13.9 billion U.S. naval maintenance market

SEOUL, November 14 (AJP) - South Korea's two largest shipbuilders, HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., are intensifying competition for the U.S. Navy's maintenance, repair, and operations (MRO) contracts, valued at about US$13.9 billion annually. The development follows U.S. President-elect Donald Trump's recent emphasis on maritime cooperation with South Korea during his conversation with President Yoon Suk Yeol on Nov. 7. "We need to closely c

November 14, 2024