Dismantling work begins on South Korea's long-shuttered nuclear reactor

SEOUL, November 04 (AJP) - Doosan Enerbility has begun dismantling South Korea’s first commercial nuclear reactor, which was shut down in 2017. The company said on Tuesday that it signed a contract with Korea Hydro & Nuclear Power to remove non-controlled area facilities at the Kori Unit 1 plant, located near the southeastern city of Busan. The project represents the first phase of dismantling Kori Unit 1, which began operations in 1978 and was permanently shut down

November 4, 2025

HOT STOCK: Samsung SDI shares jump on report of Tesla battery deal

SEOUL, November 04 (AJP) - Shares of Samsung SDI climbed more than 4 percent in afternoon trading on Tuesday following a news report that the South Korean battery maker may supply more than 3 trillion won ($2.08 billion) worth of energy-storage system batteries to Tesla over the next three years. As of 2:20 p.m. in Seoul, Samsung SDI’s stock was up 4.1 percent at 340,500 won, extending gains after the report circulated in local media. The company, a unit of Samsung Group, de

November 4, 2025

Unification minister sends condolences to former North Korean figurehead

SEOUL, November 4 (AJP) - Unification Minister Jeong Dong-young on Tuesday expressed condolences over the death of North Korea's former perennial nominal head of state Kim Yong-nam. In a statement, Jeong said, "We express our condolences over Kim's death and extend our deepest sympathies to his family on behalf of the government," adding that Kim had led the North Korean delegation to the 2018 Pyeongchang Winter Olympics, contributing to inter-Korean dialogue. J

November 4, 2025

South Korea's Samsung Biologics hits record $4 billion in annual orders

SEOUL, November 04 (AJP) - Samsung Biologics said on Tuesday that it has surpassed last year’s total orders, securing 5.5 trillion won (about $4 billion) in contracts so far this year — the highest annual performance since the company was founded. The announcement came as the South Korean biopharmaceutical manufacturer disclosed a new 275.9 billion won deal with a European drugmaker, adding to a string of large contracts signed in 2024. The company has completed eigh

November 4, 2025

OPINION: Greece and Korea: A living dialogue between civilizations

SEOUL, November 04 (AJP) - Throughout history, countless thinkers and philosophers have drawn inspiration from ancient Greece. Among them, Johann Wolfgang von Goethe (1749–1832) held a lifelong admiration for Greek civilization, seeing in its art, philosophy, and culture the supreme ideals of beauty, harmony, and humanity. He once proclaimed, “Become like the Greeks! They lived divinely.” Ins

November 4, 2025

South Korea's Naver forms strategic partnership with Spotify

SEOUL, November 04 (AJP) - South Korea's Naver said Tuesday it has entered into a strategic partnership with Spotify to bring the global streaming platform’s vast library of music and podcasts to more users across Naver’s digital ecosystem. The collaboration aims to integrate Spotify’s catalog — which includes more than 100 million songs and 7 million podcasts — into Naver’s suite of services, allowing users to more easily enjoy audio co

November 4, 2025

Asian markets mostly subdued amid mixed economic signs

SEOUL, November 04 (AJP) - Asian markets were broadly muted on Tuesday as South Korea and Japan paused after nearly a week of uninterrupted gains, while Chinese equities traded flat amid conflicting economic signals. South Korea’s KOSPI slipped 0.7 percent to 4,192.20 in early trading as investors locked in profits following a sharp rally in large-cap semiconductor stocks. Foreign investors sold 701.2 billion won, while domestic institutions offloaded 207.9 billion won. Tec

November 4, 2025

Lee praises APEC achievements, urges swift approval of next year's budget

SEOUL, November 4 (AJP) - In an address to the National Assembly on Tuesday, President Lee Jae Myung highlighted his endeavors at last week's Asia-Pacific Economic Cooperation (APEC) summit in the country's southeastern city of Gyeongju, saying he had "put every possible effort into achieving the best results even in the worst-case scenario." During the address, his second of its kind following a similar speech on a supplementary budget in June, Lee outlined his ke

November 4, 2025

South Korea's inflation gains fastest in 15 months, markets price in rate freeze

SEOUL, November 04 (AJP) - South Korea’s consumer inflation accelerated at the fastest pace in 15 months in October, reinforcing market expectations for another rate freeze this month as authorities attributed much of the pickup to increased spending during the extended Chuseok holiday, government data showed Tuesday. According to the October consumer price index (CPI) released by the Ministry of Data and Statistics, headline inflation rose 2.4 percent from a year earlier, t

November 4, 2025

LG Chem, China's Sinopec to co-develop sodium-ion battery materials

SEOUL, November 04 (AJP) - South Korea’s LG Chem said Tuesday it has formed a partnership with China’s largest energy and chemical company, Sinopec, to develop key materials for next-generation sodium-ion batteries, a technology seen as a promising alternative to lithium-based systems. The two companies signed an agreement on Oct. 30 to jointly research and produce cathode and anode materials for sodium-ion batteries, known as SIBs. The collaboration aims to strength

November 4, 2025