Shares of South Korean power equipment suppliers surge despite US tariff uncertainty

SEOUL, October 10 (AJP) - South Korea's leading power equipment suppliers saw their share prices surge sharply despite stalled tariff-related negotiations with the U.S. Shares of HD Hyundai Electric rose 5.12 percent to close at 657,000 Korean won, as KOSPI trading resumed on Friday after a weeklong break for the country's biggest Chuseok holiday. Its market competitors also saw strong gains, with shares of Hyosung Heavy Industries jumping 5.52 percent and those of LS E

October 10, 2025

KOSPI reaches new high after weeklong holiday

SEOUL, October 10 (AJP) - The benchmark KOSPI surpassed the 3,600 level for the first time on Friday, following a sharp opening after a weeklong break for the country's biggest Chuseok holiday. KOSPI hit a record intraday high of 3,617.86 and closed at 3,610.60, up 61.39 points or 1.73 percent, from the previous session. The record rally was fueled by foreign investors, who snapped up a net 1.06 trillion won in shares. Among the top market-cap stocks, Samsung Electronics r

October 10, 2025

South Korea set to face Brazil in friendly in Seoul

SEOUL, October 10 (AJP) - South Korea is set to face Brazil in a friendly match in Seoul on Friday night. Led by Hong Myung-bo, the South Korean national team, ranked 23rd in the latest FIFA rankings, will take on the sixth-ranked team at 8:00 p.m. at Seoul World Cup Stadium. Past statistics show that South Korea has struggled against the South American powerhouse, winning just once in eight encounters. Their most recent match ended in a 4-1 defeat in the round of 16 at the 2022 Q

October 10, 2025

North Korea likely to show off latest weapons at nighttime military parade

SEOUL, October 10 (AJP) - North Korea is expected to hold a military parade on Friday night to mark the 80th anniversary of the founding of the renegade country's Workers' Party. The Joint Chiefs of Staff said North Korea is currently conducting rehearsals indicating the parade is likely to be a nighttime event. North Korea is expected to showcase its latest weapons and military arsenal including intercontinental ballistic missiles, although it remains to be seen as they a

October 10, 2025

Fines imposed on Apple, Google remain unpaid amid regulatory lapses

SEOUL, October 10 (AJP) - Global tech companies such as Apple and Google have avoided fines totaling 63 billion won (about US$47 million) for nearly two years in South Korea, as authorities have failed to enforce the penalties. According to data submitted to lawmaker Choi Soo-jin of the main opposition People Power Party from the Korea Communications Commission (KCC), the watchdog slapped fines on both companies in October 2023 for forcing in-app payment systems, overcharging

October 10, 2025

Stock markets open higher after weeklong Chuseok holiday

SEOUL, October 10 (AJP) - South Korean stock markets opened sharply higher on Friday after a weeklong break for the country's biggest Chuseok holiday. The benchmark KOSPI opened at 3,598.11, up 1.38 percent, while the junior Kosdaq rose 0.54 percent to 858.86. Within just several minutes of trading, the KOSPI climbed to 3,606.86, reaching the 3,600 level for the first time. Before the holiday that began last Friday, the KOSPI closed at a record high of 3,549.21 on Oct. 2. Whi

October 10, 2025

Hyundai Motor's hydrogen truck included among TIME magazine's 'best inventions' this year

SEOUL, October 10 (AJP) - Hyundai Motor's hydrogen electric truck has been named one of TIME magazine's "Best Inventions" for this year, the automaker said on Friday. The Xcient is an autonomous hydrogen-electric truck developed in collaboration with PlusAI, an American autonomous driving technology company based in California. The vehicle combines Hyundai's hydrogen platform with PlusAI's Level 4 self-driving software, SuperDrive. As the world's f

October 10, 2025

Subway breakdown in Seoul causes delays for commuters on first day back after Chuseok

SEOUL, October 10 (AJP) - A subway train in Seoul broke down Friday morning, disrupting service for nearly an hour and causing delays for commuters returning to work on the first day after the week-long Chuseok holiday. According to operator Seoul Metro, the incident occurred around 6:30 a.m. between Banghwa and Myeongil stations on subway line No. 5, causing delays of approximately 50 minutes. The exact cause of the breakdown is under investigation. * This article, publishe

October 10, 2025

Foreign reserves rise for fourth consecutive month

SEOUL, October 10 (AJP) - South Korea's foreign reserves rose by about $6 billion in September, extending their growth streak for the fourth consecutive month since June. According to data released by the Bank of Korea on Thursday, the reserves stood at $422.02 billion at the end of September, up $5.73 billion from the previous month. A Bank of Korea official attributed the increase to higher investment returns and a rise in foreign currency deposits at financial instit

October 10, 2025

Pyongyang readies party anniversary with show of arms and socialist unity

SEOUL, October 09 (AJP) -Buoyed by high-profile summits with Chinese and Russian leaders, North Korea is set to mark the 80th anniversary of its ruling Communist party on Friday with a grand display of its latest weaponry and the presence of dignitaries from fellow socialist nations. Chinese Premier Li Qiang arrived in Pyongyang on Thursday, making the highest-level visit from Beijing since 2019 to attend the anniversary celebrations of the Workers’ Party of Korea. Li

October 9, 2025