Korean electric vehicle market shifts towards compact models amid global sales slowdown

SEOUL, September 25 (AJP) - Korea's electric vehicle (EV) market is showing a clear preference for compact models, while sales of larger EVs continue to struggle, industry data revealed on Wednesday. The Korea Automobile & Mobility Association (KAMA) reported that domestic sales of compact EVs surged by 130.4 percent year-on-year to 19,103 cars in the first eight months of 2024. Conversely, sales of large EVs in the Korean market plunged 70.3 percent to 2,477 units. T

September 25, 2024

Opinion: The financial markets and reality

KENOSHA, September 25 (AJP) - There is continuing economic growth and related positive news. Above all, inflation is declining toward the established Federal Reserve target of two percent. Fed Chairman Jerome Powell and colleagues at the Federal Reserve Board of the United States have therefore cut interest rates by fully one-half percent. Interest rates are going down, reflecting the new concern with unemployment. Stock declines have been concentrated in volatile technology sect

September 25, 2024

North Korean leader's sister sulks again over US submarine's visit to South Korea

SEOUL, September 25 (AJP) - North Korean leader Kim Jong-un's sister Yo-jong on Tuesday launched another tirade over the recent arrival of a nuclear-armed U.S. submarine here. She also vowed that the North will "continuously and limitlessly" enhance its nuclear arsenal. North Korea's "nuclear war deterrent to cope with and contain various threats from outside is bound to be bolstered up both in quality and quantity continuously and limitlessly," Kim said

September 25, 2024

OPINION: AI is fueling deepfake porn crisis in Korea. What's behind it – and how can it be fixed?

SEOUL, September 25 (AJP) - It's difficult to talk about artificial intelligence without talking about deepfake porn – a harmful AI byproduct that has been used to target everyone from Taylor Swift to Australian school girls. But a recent report from startup Security Heroes found that out of 95,820 deepfake porn videos analyzed from different sources, 53 percent featured Korean singers and actresses – suggesting this group is disproportionately targeted. So, what&

September 25, 2024

Nat'l football team's head coach denies nepotism in his appointment

SEOUL, September 24 (AJP) - Hong Myung-bo, the head coach of the Korean men's national football team, came under intense scrutiny on Tuesday as he appeared before lawmakers at the National Assembly. During a parliamentary session of the Culture, Sports and Tourism Committee attended by Hong and other officials from the Korea Football Association (KFA) including chairman Chung Mong-gyu, calls were made for clarification regarding the controversies surrounding his appointment in J

September 24, 2024

Korea Zinc rejects hostile takeover bid

SEOUL, September 24 (AJP) - Korea Zinc, a leading global non-ferrous metal refiner, on Tuesday rejected a hostile takeover bid by Young Poong and its partner, private equity firm MBK Partners. In a press conference, Vice Chairman Lee Je-joong labeled the bid as “predatory behavior” and warned that a takeover could lead to the leakage of core technologies abroad, jeopardizing South Korea’s industrial competitiveness. Lee said Korea Zinc’s employees are co

September 24, 2024

Korean short-story collection longlisted for French literary award

SEOUL, September 24 (AJP) - Korean novelist Park Sang-Young's queer novel has been longlisted for France's prestigious literary award. The French edition of "Love in the Big City," released in August this year, is vying for the Prix Médicis, one of the most prestigious literary awards recognizing works of fiction annually in France. Other included works are "Question 7" by Australian author Richard Flanagan, "The MANIAC" by Chilean nov

September 24, 2024

North Korea celebrates victory at U-20 Women's World Cup with rare coverage

SEOUL, September 24 (AJP) - North Korea was quick to report its victory in the FIFA U-20 Women's World Cup held in Colombia, with its state-run newspaper Rodong Sinmun featuring the coverage prominently on the front page on Tuesday. Under the headline, "The country's proud daughters who raised our great state's honor," the daily praised the women's football team's 1-0 victory over Japan in the final match held over the weekend. It is rare for the iso

September 24, 2024

Lawmaker claims Google's possible tax evasion in Korea

SEOUL, September 24 (AJP) - A recent analysis by Rep. Choi Soo-jin of the People Power Party has raised concerns about Google Korea's potential tax evasion. The lawmaker's study, conducted in collaboration with Professor Jeon Seong-min of Gachon University, suggests the tech giant significantly underreported its revenue and tax obligations in South Korea. According to the analysis, Google Korea's declared revenue for 2023 was a mere 365.3 billion won ($270 million),

September 24, 2024

DeepBrain AI showcases AI memorial service at global forum

SEOUL, September 24 (AJP) - Korean artificial intelligence firm DeepBrain AI showcased its AI memorial service "Re;memory" at a global business forum recently held in Yeongjongdo, Incheon. The company said on Monday that the service, developed in collaboration with Korean funeral service provider PreedLife Co., uses DeepBrain AI's technology to create AI-generated videos of deceased individuals based on a single photograph and a 10-second voice sample. The AI avat

September 24, 2024