Four PPP presidential candidates prepare for crucial primary debate

SEOUL, April 26 (AJP) - South Korea's ruling People Power Party (PPP) will host a high-stakes debate on Saturday featuring the four remaining candidates in its presidential primary: Ahn Cheol-soo, Han Dong-hoon, Hong Joon-pyo, and Kim Moon-soo. The debate is expected to revolve around the contentious issue of former President Yoon Suk-yeol's impeachment, with Hong and Kim, who opposed the measure, facing off against Ahn and Han, who supported it. Analysts anticipate fierce e

April 26, 2025

POSCO, Hyundai Steel report disappointing first-quarter results

SEOUL, April 25 (AJP) - South Korea’s top steelmakers, POSCO and Hyundai Steel, posted disappointing first-quarter results as a confluence of weak global demand, Chinese oversupply, and new U.S. tariffs weighed heavily on the industry. POSCO Holdings reported 14.96 trillion won ($11 billion) in revenue from its steel division and an operating profit of 450 billion won ($330 million), according to financial statements released Friday. Hyundai Steel swung to an operating lo

April 25, 2025

LG Electronics weighs US appliance price hikes amid tariff pressures

SEOUL, April 25 (AJP) - LG Electronics is weighing potential price increases for U.S.-bound home appliances if tariffs imposed by Washington surpass what the company considers sustainable, according to CEO Jo Joo-wan. Jo said that while the company is striving to offset the impact through operational efficiencies, it is preparing for a range of scenarios — including higher consumer prices. “We will absorb as much as possible through operational efficiencies,”

April 25, 2025

Over 1,200 people evacuated as fire engulfs COEX in southern Seoul

SEOUL, April 25 (AJP) - A fire broke out at COEX in southern Seoul on Friday, prompting the evacuation of about 1,200 people including visitors and workers there. No casualties were reported, and the blaze was extinguished in about two hours. According to firefighters, the fire started around 11 a.m. at a restaurant on the second floor of the multi-purpose complex. A score of fire trucks with over 100 firefighters were immediately dispatched to the scene, and the fi

April 25, 2025

Lantern festival to light up downtown Seoul this weekend ahead of Buddha's Birthday

SEOUL, April 25 (AJP) - Colorful lanterns will illuminate the streets of Seoul over the weekend as the two-day festival kicks off ahead of Buddha's Birthday, which falls on May 5 this year. About 20,000 Buddhist devotees and other revelers are expected to turn up for this year's festivities featuring lotus-shaped lanterns, including parades, various activities, and performances in downtown Seoul. As lantern-bearing participants will gather for parades on Saturday and Sund

April 25, 2025

PHOTOS: Historic diplomatic mission to Japan reenacted

SEOUL, April 25 (AJP) - To mark the 60th year since the normalization of diplomatic ties between South Korea and Japan, observances are underway to honor the Joseon Tongsinsa, the diplomatic mission dispatched from Korea to Japan during the Joseon Dynasty. On Thursday, a reenactment of the Joseon Tongsinsa procession was staged at Gyeonghuigung Palace in Seoul. Separately, the Seoul Museum of History has mounted a special exhibition dedicated to the Joseon Tongsinsa, which will remain open un

April 25, 2025

Seoul Central Masjid reopens after months-long restoration

SEOUL, April 25 (AJP) - The Seoul Central Masjid reopened its doors on Friday, following a major six-month restoration that brought new life to South Korea’s largest Islamic place of worship. The ceremony took place at the masjid in Itaewon and drew community members, diplomats, and representatives from both South Korea and Türkiye. The renovation, backed by the Turkish government, was carried out with the help of master artisans from Türkiye. Traditional tiles, ca

April 25, 2025

SK Telecom to divest entire Kakao stake in $300 million block deal

SEOUL, April 25 (AJP) - SK Telecom said Friday it will sell its entire stake in Kakao Corp. through a block deal valued at 413.3 billion won ($300 million). The sale involves 10.8 million shares of the internet company. SK Telecom said the move is aimed at securing funds for the full acquisition of SK Broadband, as well as investments in future growth areas, including artificial intelligence. SK Telecom signed a stock purchase agreement in November to acquire the remaining 2

April 25, 2025

Korea will negotiate with US to eliminate tariffs

SEOUL, April 25 (AJP) - South Korea and the United States have agreed to hold negotiations aimed at eliminating mutual tariffs and item-specific duties before a July 8 deadline, South Korean officials said Friday, following high-level trade talks in Washington. The talks come ahead of the expiration of a 90-day mutual tariff suspension instituted under U.S. President Donald Trump. The two nations now hope to forge a comprehensive agreement — referred to by South Korean offic

April 25, 2025

PHOTOS: Joseon-era folk paintings on display in Seoul

SEOUL, April 24 (AJP) - An engaging exhibition at the Amorepacific Museum of Art offers a sweeping view of Joseon-era "minhwa," the vibrant and often whimsical folk paintings that flourished from the late 18th through the early 20th centuries. Drawing from 19 institutional and private collections, the show features over 100 works that underscore the distinctiveness of Korean traditional art, a realm where creativity often defied rigid artistic

April 25, 2025