Korea Zinc hostile takeover bid likely to succeed

SEOUL, January 22 (AJP) - A Seoul court ruling has dealt a significant blow to Korea Zinc Chairman Choi Yoon-bum’s efforts to retain control of the world’s largest zinc smelter, paving the way for rival Young Poong and private equity firm MBK Partners to seize management control. The Seoul Central District Court on Tuesday rejected Korea Zinc’s plan to introduce a cumulative voting system for board appointments, a move that would have allowed minority shareholders

January 22, 2025

Agency behind BLACKPINK to search for new K-pop talent next month

SEOUL, January 22 (AJP) - YG Entertainment, a talent mill behind K-pop icons like 2NE1, Big Bang and BLACKPINK, will search for the next K-pop stars through a nationwide audition tour that kicks off early next month. The auditions will begin in Gwangju on Feb. 7 and will make stops in several other cities including Daejeon on Feb. 8, Jeonju on Feb. 9, Daegu on Feb. 15, Busan on Feb. 16, and Seoul on Feb. 22 and 23. Open to young K-pop wannabes born between 2007 and 2014, the audi

January 22, 2025

Song Hye-kyo ready to impress viewers with unconventional role in horror film

SEOUL, January 22 (AJP) - Actress Song Hye-kyo is expected to show a new side of herself in her upcoming film "The Dark Nuns" slated for release this week. Directed by Kwon Hyeok-jae, the exorcism-themed film marks Song's return to the silver screen about a decade after her appearance in "The Crossing," the 2014 Chinese epic drama directed by acclaimed Hong Kong filmmaker John Woo. It is also her first venture into the horror genre in her acting career spanni

January 22, 2025

Korean automakers, battery firms brace for fallout from Trump's trade policies

SEOUL, January 22 (AJP) - South Korea’s automakers and battery manufacturers are bracing for challenges after President Donald Trump announced sweeping policy reversals, including the termination of federal electric vehicle (EV) mandates and the imposition of a 25 percent tariff on imports from Canada and Mexico beginning next month. Trump’s rollback of Biden-era clean energy initiatives, notably the Inflation Reduction Act (IRA), threatens to upend subsidies critical to

January 22, 2025

PHOTOS: Kazakhstan envoy, AJP chairman explore cooperation opportunities

SEOUL, January 21 (AJP) - Kazakhstan’s Ambassador to South Korea, Nurgali A. Arystanov, visited Aju News Corporation in Seoul on Tuesday to explore avenues for future collaboration with Aju Chairman Kwak Young-kil. Aju News Corporation, a leading South Korean media group, operates the AJP news agency, Aju Business Daily, Aju TV, and other media outlets. During the meeting, Ambassador Arystanov and Chairman Kwak discussed joint initiatives to strengthen media partnerships, promote cul

January 21, 2025

Over 30 million people expected to travel during Lunar New Year holiday

SEOUL, January 21 (AJP) - More than 30 million people are expected to travel during the upcoming Lunar New Year holiday, which begins this weekend. According to a survey from the Korea Transport Institute, about 34.84 million people plan to visit their ancestral hometowns or travel overseas for the weeklong holiday, up 29 percent from last year. The annual Lunar New Year exodus is forecast to peak on next Tuesday with some 6 million hitting the road to their hometowns, but their

January 21, 2025

PHOTO: Yoon appears for hearing in impeachment trial

SEOUL, January 21 (AJP) - President Yoon Suk Yeol, detained in a solitary cell on charges of insurrection and abuse of power, appeared for a hearing in his impeachment trial at the Constitutional Court of Korea in central Seoul on Tuesday

January 21, 2025

Lee Jae-myung meets bank CEOs, calls for increased support for small businesses

SEOUL, January 21 (AJP) - South Korea's opposition leader Lee Jae-myung convened a meeting with the heads of the country’s major banks on Tuesday, urging them to provide stronger financial support for small business owners and self-employed workers. The gathering drew criticism from Lee's political rivals, who questioned the appropriateness of the meeting, suggesting it could be an attempt to bolster his profile ahead of a potential presidential bid. Lee, widely reg

January 21, 2025

Major Korean banks to shed over 2,000 jobs through early retirement programs

SEOUL, January 21 (AJP) - South Korea's five largest banks are set to shed more than 2,000 jobs this year through voluntary retirement programs, a 20 percent increase from the 1,967 departures recorded in 2024, as they accelerate digital transformation and reduce physical branch networks. KB Kookmin has already approved 647 voluntary retirements as of Jan. 17, while Shinhan confirmed 541 departures - more than double the 234 recorded last year. Woori anticipates around 500 emp

January 21, 2025

Trump's policy shift poses challenges for Korean industries

SEOUL, January 21 (AJP) - On his first day in office, Jan. 20, U.S. President Donald Trump unveiled sweeping policy changes, including a directive to reassess existing trade agreements and a plan to roll back electric vehicle (EV) mandates. The moves, analysts suggest, could have far-reaching implications for South Korea’s economy. In a memorandum titled America First Trade Policy, Trump instructed the United States Trade Representative (USTR) to review all existing trade a

January 21, 2025