S. Korea develops the world's second-fastest bullet train

SEOUL, December 22 (AJP) - South Korea has finished the development of a next-generation bullet train designed to operate at 370 kilometers per hour, the transport ministry said Monday. The achievement positions South Korea as the world's second-fastest rail operator, after China, to operate commercial rail services at speeds exceeding 350 kilometers per hour. Finalized under a four-year national research and development program, the project focused on the EMU-370. This electr

December 22, 2025

As won hovers at crisis-era levels, Seoul feels like the world's most expensive city

SEOUL, December 22 (AJP) - Headline inflation in South Korea remains anchored around the mid-2 percent range, but many households say daily life feels increasingly unaffordable, as a weak won erodes purchasing power and amplifies price pressures across imported goods. Seoul now "feels like the most expensive city in the world," ahead of Tokyo and London, according to a recent British Time Out survey that asked residents in 100 global cities to assess their cost of living.

December 22, 2025

No special amnesty planned for Christmas

SEOUL, December 22 (AJP) - There will be no special amnesty for next week's Christmas and New Year's holidays. According to sources from the ruling Democratic Party (DP) on Monday, President Lee Jae Myung has not started reviewing year-end pardons. Such special pardons typically take about a month from the Justice Ministry's review to a final decision. In August, just two months after taking office, Lee granted pardons to a total of 836,687 people including Cho Kuk,

December 22, 2025

Lee set to move into Cheong Wa Dae as renovations near completion

SEOUL, December 22 (AJP) - President Lee Jae-myung is expected to move into Cheong Wa Dae in central Seoul soon, as renovations of the sprawling presidential compound are nearly complete. Some staff have already moved in, with the presidential office's daily press briefings resuming there on Monday. Lee's relocation from the current office in Yongsan to Cheong Wa Dae is expected to be completed as early as early as next week. Once moved in, he will have a shared workspa

December 22, 2025

Hankook Tire's Hungarian plant donates tires to local community

SEOUL, December 22 (AJP) - Hankook Tire & Technology said on Monday that its Hungary plant has donated 28,000 tires to local government bodies as well as nonprofit and charitable organizations under a corporate social responsibility initiative launched in 2012. The tire firm said said the initiative reflects the environmental, social and governance (ESG) management philosophy of the company and supports sustainable development in the Hungarian community. This year, the pl

December 22, 2025

South Korea's Mirae Industries signs $7.5 million chip equipment supply deal

SEOUL, December 22 (AJP) - Mirae Industries, a South Korean manufacturer of semiconductor back-end process equipment, said on Monday it has signed an additional supply contract worth $7.5 million with Unimos Micro Electronics for semiconductor inspection equipment. In a regulatory filing, the company said the contract is equivalent to 37.7 percent of its 27 billion won in revenue recorded last year. Mirae Industries said the latest order reflects the results of its efforts

December 22, 2025

Frontline units told to assume border farther south to avoid clashes

SEOUL, December 22 (AJP) - The South Korean military has internally instructed frontline units to consider the more southerly boundary when the Military Demarcation Line (MDL) along the inter-Korean border overlaps or is unclear, to avoid accidental clashes with North Korea. During a regular press briefing at the Ministry of Defense, Joint Chiefs of Staff spokesperson Lee Sung-joon said the military prioritizes MDL markers set up in the Demilitarized Zone (DMZ) and conducts comprehe

December 22, 2025

Korean Air, Asiana face fines for breaching merger conditions on seat supply

SEOUL, December 22 (AJP) - South Korea’s antitrust regulator said on Monday it will impose penalties totaling 6.5 billion won ($5 million) on Korean Air and Asiana Airlines for violating merger-approval conditions that restrict sharp reductions in seat supply. The Fair Trade Commission (FTC) said it will fine Korean Air 5.88 billion won and Asiana 580 million won for breaching a corrective order that bars the airlines from cutting annual seat supply to below 90 percent of

December 22, 2025

South Korea's strategic oil reserves hit 100 million barrels

SEOUL, December 22 (AJP) - South Korea's strategic oil reserves have surpassed 100 million barrels for the first time, the government said on Monday. The Ministry of Trade, Industry and Energy said the final oil tanker carrying this year’s stockpiled crude arrived at the Korea National Oil Corp.’s storage base in Geoje, bringing state-held reserves to 100 million barrels. Privately held oil stockpiles stood at about 95 million barrels as of October. Combined p

December 22, 2025

Seoul says it held nuclear talks with Russia despite Moscow's denial

SEOUL, December 22 (AJP) - South Korea reportedly held talks with Russia to discuss multiple issues including North Korea's nuclear weapons program. According to diplomatic sources, a South Korean Foreign Ministry official handling North Korea-related issues traveled to Moscow and met with Oleg Burmistrov, the Russian Foreign Ministry's special envoy for North Korea's nuclear issues. Apart from a foreign ministers' meeting in September this year, this was the firs

December 22, 2025