Crimson Desert hit propels Pearl Abyss Q1 profit 26-fold SEOUL, May 12 (AJP) - South Korean game developer Pearl Abyss reported that its first-quarter operating profit surged nearly 26-fold from a year earlier, propelled by the runaway success of action-adventure title Crimson Desert, which has reshaped the studio's financial trajectory since its March 20 launch. According to regulatory filings released Tuesday, operating profit on a consolidated basis came in at 212.1 billion won ($142.4 million), a whopping 2,597.4 percent jump from May 12, 2026

Seoul opens Korean War memorial garden honoring wartime support from allies SEOUL, May 12 (AJP) - A memorial garden dedicated to soldiers who died in the Korean War was unveiled at Gwanghwamun Square in central Seoul at a ceremony on Tuesday. The ceremony was attended by war veterans and ambassadors from 22 countries that sent troops and provided support during the 1950–53 Korean War. According to the Seoul Metropolitan Government, the "Garden of Gratitude" consists of a ground-level space with rifle-shaped installations symbolizing the s May 12, 2026

India enters austerity drive as oil, gold imports strain forex reserves SEOUL, May 12 (AJP) — India’s 1.5 billion people are being asked to travel less, farm more efficiently and, most notably, cut back on gold purchases, underscoring the severity of the blow the three-month-long Middle East energy shock is dealing to Asia’s fastest-growing major economy. In a national address on Sunday, Prime Minister Narendra Modi urged citizens to avoid buying gold for the next year, reduce unnecessary overseas travel and curb energy consumption as May 12, 2026

Following the tracks, following the taste: Jeonju in cinematic experience *Editors’ Note: This is part of AJP’s photo essay series exploring railway journeys across South Korea in search of local food and regional culture. This installment travels to Jeonju during the Jeonju International Film Festival, where cinema, traditional streets and local cuisine came together beneath the spring sky. SEOUL, May 12 (AJP) - The 27th edition of the Jeonju International Film Festival transformed Jeonju into more than a destination for cinema. Under the May 12, 2026

EV chasm redraws East Asia's auto map SEOUL, May 12 (AJP) - A widening electric-vehicle demand divide across Asia is reshaping the region's automotive hierarchy, pushing Japanese automakers into retreat while opening once-impenetrable markets to Chinese exporters. Caught between the two forces, South Korea's battery makers are pivoting aggressively toward energy storage systems and lower-cost chemistries to weather the global EV slowdown. The clearest sign of Japan's retreat came on April 23, when Honda May 12, 2026

Appeals court increases ex-interior minister's sentence to 9 years over martial law involvement SEOUL, May 12 (AJP) - Former Interior and Safety Minister Lee Sang-min received a nine-year prison sentence on Tuesday after an appeals court increased his initial seven-year term for his involvement in disgraced former President Yoon Suk Yeol's botched martial law debacle in 2024. In a trial broadcast nationwide, the Seoul High Court ruled that he was guilty of aiding Yoon's Dec. 3 declaration of martial law, by instructing police and fire agencies to cut off power and wate May 12, 2026

Policy chief floats 'AI dividend' concept amid AI boom in Korea SEOUL, May 12 (AJP) - South Korea's top presidential policy aide floated the idea of a national "AI dividend" on Tuesday, proposing that part of the massive profits and tax windfall expected from the artificial intelligence and semiconductor boom be structurally shared with the broader public. Presidential policy chief Kim Yong-beom argued in a social media post that the emerging AI boom was not created solely by individual firms, but by decades of national investment May 12, 2026

Anthropic to open office in southern Seoul as it expands Asia presence SEOUL, May 12 (AJP) - American artificial intelligence (AI) company Anthropic is expected to open its office in South Korea in the first half of this year. According to industry watchers, the developer of the AI assistant Claude reportedly met with South Korean government officials recently to discuss its plans. The development comes after Anthropic earlier told foreign media outlets including Reuters that it planned to open an office in southern Seoul. In July last year, the May 12, 2026

GMTCK president emphasizes passion and leadership at Kookmin University lecture SEOUL, May 12 (AJP) - Brian McMurray, president of GM Technical Center Korea, delivered a special lecture at Kookmin University on the importance of passion-driven career strategies and leadership in a rapidly changing industrial landscape, the university said Thursday. Speaking to students at the university's academic conference hall on May 7, McMurray addressed the theme of how to grow a career and make a difference. He shared personal insights from his journey as an enginee May 12, 2026

Arnault family tours Seoul luxury landmarks as Korea cements status as key LVMH market SEOUL, May 12 (AJP) -Bernard Arnault, chairman of luxury conglomerate LVMH, toured South Korea’s leading department stores Monday in his first visit to the country in three years, underscoring Korea’s growing importance to the global luxury industry even as demand slows elsewhere. The billionaire chairman began his Seoul itinerary at Shinsegae Department Store Main Branch, where he briefly spoke with executives and Louis Vuitton officials before entering “The Res May 12, 2026