Asian shares broadly higher early Mon, led by Nikkei's rally to new highs

SEOUL, October 20 (AJP) - Asian markets opened higher across the board Monday, led by Japan, as political uncertainties eased following Sanae Takaichi’s likely premiership and sentiment in China improved after the central bank left its loan prime rates unchanged for October. Japan’s Nikkei 225 surged 2.6 percent in early trading to hit fresh record highs after reports of a political breakthrough in Tokyo — a coalition deal between the ruling Liberal Democratic

October 20, 2025

More South Koreans likely involved in scam frauds in Cambodia

SEOUL, October 20 (AJP) - Statistics suggest that more South Koreans are involved in scam frauds and phishing schemes in Cambodia than previously estimated. According to data from the Ministry of Justice submitted to lawmaker Park Chan-dae of the ruling Democratic Party and revealed on Monday, the number of South Koreans who traveled to Cambodia but did not return has risen sharply in recent years. The figure was 113 in 2021, but surged to a whopping 3,209 in 2022, 2,662 in 2023,

October 20, 2025

South Korea's DAPA signs pact with Brazil's Embraer to expand transport aircraft partnership

SEOUL, October 20 (AJP) - South Korea’s defense procurement agency has signed an agreement with Embraer, Brazil’s leading aerospace manufacturer, to deepen industrial ties and expand Korean participation in the company’s global supply chain. According to the Defense Acquisition Program Administration (DAPA) on Monday, the agency signed a memorandum of understanding with Embraer S.A. during the Seoul International Aerospace and Defense Exhibition (ADEX) 2025 in

October 20, 2025

Animated film 'Your Letter' sold to over 160 countries ahead of global release

SEOUL, October 20 (AJP) - Animated film "Your Letter" has been sold to over 166 countries ahead of its global release. Countries where the film has been pre-sold include Japan, Indonesia, Italy, Malaysia, Singapore, Spain, Thailand, and the U.K. Praised after its premiere at the Ottawa International Animation Festival in September last year, the 96-minute film was released here the following month. Starting with its overseas release in Viet Nam earlier this mon

October 20, 2025

Taiwan to surpass South Korea in per capita GDP in 2025: IMF

SEOUL, October 20 (AJP) - South Korea is set to lose its long-held economic edge over Taiwan this year, according to new projections from the International Monetary Fund. The IMF expects South Korea’s per capita gross domestic product to fall to 37th place globally, while Taiwan’s rises to 35th, marking the first time in 22 years that Taiwan will surpass its East Asian rival. In its World Economic Outlook released on Oct. 15, the IMF estimated South Korea’s

October 20, 2025

Overdue credit card loans rising fast in South Korea

SEOUL, October 20 (AJP) - South Koreans are falling behind on their credit card bills at a record pace, as higher interest rates and tighter bank lending drive more households to rely on card loans to make ends meet. According to data released by the office of Rep. Kang Min-kook of the main opposition People Power Party, citing the Financial Supervisory Service, credit card debt overdue for more than a month reached nearly 1.5 trillion won ($1.1 billion) as of the end of August

October 20, 2025

'Progress' made in tariff Talks with US, deal expected before APEC summit

SEOUL, October 20 (AJP) - Expectations are growing for a possible breakthrough in tariff negotiations with the U.S. as "significant progress" appears to be made. Presidential policy chief Kim Yong-beom, who returned from Washington, D.C., on Sunday, said, "Significant progress was made in negotiations with the U.S., as most issues have been settled." Though some areas still require adjustments, he expressed optimism about reaching a deal to finalize trade ta

October 20, 2025

OPINION: China's rise squeezing Korea's industrial heartlands

Park Won-jae SEOUL, October 20 (AJP) - Yeosu, once the beating heart of South Korea’s petrochemical industry, is now a city under strain. The port, long fueled by the hum of factories and refineries, has fallen quiet as China’s self-sufficiency in ethylene production upends the regional industrial order. Roughly three years ago, Beijing achieved full domestic production of ethylene, the cornerstone of plastics and other chemical materials. The effects on Yeosu w

October 20, 2025

South Korean business chiefs hold unprecedented golf summit with Trump

SEOUL, October 19 (AJP) - South Korea's top business leaders held an unprecedented seven-hour meeting with U.S. President Donald Trump at his Florida golf club on Saturday, local time, as Seoul scrambles to address mounting concerns over tariffs and trade ahead of a crucial summit. Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo, and Hanwha Group Vice Chairman Kim Dong-kwan atte

October 19, 2025

S.Korean industry minister vows support for firms after U.S. detention incident

SEOUL, October 19 (AJP) - South Korea's industry minister pledged to protect the country's overseas investment interests and ensure citizen safety following a detention incident at an LG Energy Solution battery plant construction site in the United States. Kim Jung-kwan, Minister of Trade, Industry and Energy, visited LG Energy Solution's battery factory site in Georgia and Hyundai Motor Group's Metaplant America to assess construction progress and address industry c

October 19, 2025