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  [K-film] Park Chan-wook's latest film to compete at Venice Film Festival next month SEOUL, July 23 (AJP) - Director Park Chan-wook's latest film has been invited to compete at this year's Venice International Film Festival next month. According to organizers of the prestigious annual festival in a livestreamed event on Tuesday, "No Other Choice" will vie for the top prize along with 20 other films, becoming the first South Korean film invited to the main competition section in over a decade, since the late director Kim Ki-duk's "Piet&agra July 23, 2025
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  Korea's lending clampdown leaves door wide open for foreign buyers SEOUL, July 23 (AJP) - Foreign property acquisitions in Seoul have surged in the wake of South Korea’s tightened mortgage lending rules for domestic buyers, according to newly released court registry data. The new regulations, which took effect on June 27, cap mortgage loans at 600 million won (about $435,000) for most buyers. In the weeks that followed, domestic transactions plummeted. Between July 1 and July 18, purchases of apartments and officetels — mixed-use bui July 23, 2025
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  Samsung's grip on foldable phone market expected to slip this year SEOUL, July 23 (AJP) - Samsung Electronics is expected to see its global market share in foldable smartphones drop by roughly 10 percentage points this year, as rival brands gain ground in the rapidly evolving segment, according to a report by Taiwan-based research firm TrendForce. The firm projects global shipments of foldable phones will reach 19.8 million units in 2025. Samsung’s share is forecast to decline from 45.2 percent last year to 35.4 percent in 2025, reflecting July 23, 2025
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  [K-Tech] Hanwha's US shipyard to build LNG carrier in $250 million deal SEOUL, July 23 (AJP) - Hanwha Ocean has signed a 348 billion won (approximately $250 million) contract with its American affiliate, Hanwha Philly Shipyard, to build a liquefied natural gas (LNG) carrier. The agreement includes an option for a second vessel and highlights Hanwha Group’s broader strategy to position itself at the forefront of U.S. regulatory changes requiring domestically built LNG carriers for American gas exports starting in 2029. The move comes amid a re July 23, 2025
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  Sejong mayor presses for capital relocation, says structural reform is urgent SEOUL, July 22 (AJP) - On Tuesday, Sejong City Mayor Choi Min-ho called for the full relocation of South Korea's presidential office and National Assembly to Sejong, saying that completing the city’s role as an administrative capital is essential to resolving regional imbalance and improving government efficiency. "Sejong and the completion of the administrative capital are not merely political issues but matters of Korea's future strategy," Choi said durin July 22, 2025
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  HMM expands global port investments with major projects in Brazil, Spain SEOUL, July 22 (AJP) - HMM, South Korea’s largest shipping company, is accelerating its push into international port terminal operations, targeting long-term leases and acquisitions as it seeks to cement its position in the global logistics market. The company plans to invest in terminals with operating rights spanning 20 to 30 years, generating revenue through vessel management, cargo handling, storage, and integrated logistics services. According to industry sources, HM July 22, 2025
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  PHOTOS: Enduring ancient masterpiece in Gyeongju SEOUL, July 22 (AJP) - Nestled on the slopes of Mount Tohams, the Seokguram Grotto stands as a testament to the apex of Buddhist art during the unified Silla Dynasty. Regarded as a paramount masterpiece, its creation began in 751 under the patronage of Kim Dae-seong, then the prime minister to King Gyeongdeok. The grotto was completed 23 years later, in 774 during the reign of King Hyegong. King Gyeongdeok's era (742-765) is celebrated as a golden age for Silla's Buddhi July 22, 2025
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  North Korea lures foreign tourists with huge discounts for next year's marathon event SEOUL, July 22 (AJP) - North Korea appears to be eager to earn hard currency, as it has already started offering deals for its annual marathon event for next spring. According to ads on Tuesday by Koryo Tours, a Beijing-based agency specializing in travel to the isolated country, early-bird discounts of 50 percent are available until Sept. 1 for those who sign up for the Pyongyang International Marathon, which is scheduled for April next year. Without detailed itineraries and oth July 22, 2025
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  Hanwoo beef gets legislative backing as Korea aims to modernize cattle farming SEOUL, July 22 (AJP) - South Korea has enacted a new law aimed at strengthening the nation's hanwoo beef industry. The Ministry of Agriculture, Food and Rural Affairs announced Tuesday that the so-called “Hanwoo Act” has been officially promulgated and will go into effect on July 23 next year. The legislation mandates that the government devise rolling five-year development plans for the premium Korean beef industry and provide direct financial support to cattle f July 22, 2025
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  Court postpones another of Lee's trials indefinitely, bringing all his cases to halt SEOUL, July 22 (AJP) - A district court on Tuesday decided to postpone President Lee Jae-myung's trial over alleged illegal money transfers to North Korea. The Suwon District Court in Gyeonggi Province said it made the decision in consideration of his status as president. "In order to ensure that the defendant (Lee) can fulfill his official duties guaranteed by the Constitution, we decided to postpone the trial to a later date for the sake of continuity in state affairs, July 22, 2025