Marriages surge to over 200,000 for first time since pandemic

SEOUL, March 20 (AJP) - The number of marriages sharply increased last year, seeing the largest jump in almost three decades, Statistics Korea said on Thursday. About 222,000 couples tied the knot, up 14.8 percent or 29,000 couples from the previous year, seeing the largest increase since 1996 when the number of marriages grew by 36,000. The surge comes as the number of people born in the 1990s reaches their early to mid-30s, which is often considered the prime age for getting ma

March 20, 2025

Scrutiny intensifies on MBK Partners chief amid Homeplus crisis

SEOUL, March 20 (AJP) - South Korea's Financial Supervisory Service (FSS) has launched an investigation into private equity firm MBK Partners over its role in the court-supervised restructuring of the retail chain Homeplus. FSS Governor Lee Bok-hyun said Wednesday the regulator's task force had begun an inspection of MBK, the majority shareholder of Homeplus. The inquiry follows heightened concerns about MBK's transparency, particularly after Chairman Kim Byung-ju failed

March 20, 2025

PHOTOS: Spring in Seoul

SEOUL, March 20 (AJP) - As temperatures climb, Seoul is visibly ushering in spring, with vibrant blooms now adorning the flowerbeds at City Hall.

March 20, 2025

China's Temu expands in South Korea with major logistics hub

SEOUL, March 20 (AJP) - Chinese e-commerce giant Temu has secured its first major logistics facility in South Korea, signaling a significant escalation in its expansion strategy just two years after entering the market. According to industry sources, the company has signed a long-term lease for a sprawling distribution center in Gimpo near Seoul. The 165,000-square-meter facility — roughly the size of 23 soccer fields — features ten floors above ground and one below, equ

March 20, 2025

PHOTOS: Lotte World Adventure, Korea's premier theme park

SEOUL, March 20 (AJP) - Nestled in the heart of Songpa-gu, Lotte World Adventure stands as one of South Korea’s premier theme parks, seamlessly blending nostalgia and modern attractions. First opened in July 1989, the sprawling complex was completed in March 1990 with the addition of Magic Island, an outdoor extension that offers visitors an immersive, fairy tale-inspired retreat. Conveniently connected to Jamsil Station via an underground entrance, Lotte World Adventure welcomes gue

March 20, 2025

National debt of South Korea surpasses 6,000 trillion won for first time

SEOUL, March 20 (AJP) - South Korea’s national debt surpassed 6,222 trillion won ($4.27 trillion) for the first time in the third quarter of 2024, reaching approximately 2.5 times the country’s gross domestic product, according to data released on Thursday by the Bank for International Settlements. The country’s non-financial sector credit — which includes household, corporate and government debt — rose 4.1 percent from a year earlier to 6,222 trillion

March 20, 2025

Indian embassy in Seoul hosts briefing on WAVES 2025 summit

SEOUL, March 20 (AJP) - SEOUL – The Embassy of India in the Republic of Korea held a briefing session Wednesday to introduce the inaugural World Audio-Visual & Entertainment Summit (WAVES) 2025, which aims to attract a global audience of industry leaders, policymakers, and investors, strengthening India’s position as a major hub for media and entertainment. WAVES 2025, scheduled to take place from May 1 to 4, in Mumbai, will showcase India’s thriving media an

March 20, 2025

K-beauty on budget: Daiso's affordable finds for tourists, locals

Editor's Note: This article marks the first in a series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. This series is designed to offer insights into the products, brands, and cultural shifts defining Korea’s beauty scene today. SEOUL, March 19 (AJP) - Visitors to South Korea often joke about needing an extra suitcase just for beauty products. Yet, for first-time shoppers, navigating the country&r

March 20, 2025

North Korea given exemption for medical supplies from WHO

SEOUL, March 20 (AJP) - North Korea is expected to receive some medical supplies from the World Health Organization (WHO) after the United Nations Security Council approved an exemption from international sanctions, Radio Free Asia reported on Thursday. According to the U.S. government-funded news outlet, the exemption, granted on Feb. 13, allows the WHO to send vital equipment to the isolated country. The shipment, valued at approximately $63,000, will include 20 types of medica

March 20, 2025

Korean pharma leader Celltrion's biosimilar push gains momentum

Editor's Note: This article is the 11th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, March 19 (AJP) - South Korean biopharmaceutical firm Celltrion is making significant strides in the U.S. biosimilar market, a rapidly evolving and highly competitive sector, even as potential tariffs cast uncertainty over the industry’s future. The company h

March 20, 2025