South Korea's NPS wins tax exemption in Sweden, recovers $8.6 million in dividend taxes SEOUL, November 20 (AJP) - South Korea’s National Pension Service (NPS) is set to recover roughly $8.6 million in dividend taxes from Sweden after Swedish authorities formally acknowledged the fund’s tax-exempt status for investments in listed stocks. The decision, announced Thursday, covers taxes paid between 2016 and 2020 and is expected to save the NPS an additional $6.4 million annually going forward. The pension fund is also seeking refunds for about $8.8 mil November 20, 2025

First mate, helmsman held over ferry accident SEOUL, November 20 (AJP) - The first mate and helmsman of a passenger ferry that ran aground on an uninhabited islet off the southwestern coast overnight were arrested on Thursday over their alleged negligence, according to police. Police detained the first mate in his 40s, and the helmsman, an Indonesian also in his 40s, after both were found to have neglected their duties, causing the 26,000-ton ferry Queen Zenobia II to run aground. Initial investigations revealed that the f November 20, 2025

Another star couple set to wed next month SEOUL, November 20 (AJP) - Acting couple Shin Min-a and Kim Woo-bin will tie the knot next month. Shin and Kim recently decided to marry after building deep trust over years of their relationship," their management agency said in a press release. Their private wedding will be held in Seoul on Dec. 20 with only family and close friends in attendance. Shin and Kim have been a public item since 2015 when they admitted their relationship. The agency asked for "war November 20, 2025

Korea's Celltrion to field quadruple-action obesity drug for preclinical approval next year SEOUL, November 20 (AJP) - South Korean drugmaker Celltrion is seeking a COVID antibody–style blowout as it takes a crack at the ever-ballooning anti-obesity market with a quadruple-action oral treatment it aims to ready for preclinical approval next year. The pharma plans to invest about 5.4 trillion won ($3.67 billion) in production facilities across South Korea and the United States to ramp up biosimilar manufacturing capacity and strengthen its novel drug pipeline. Par November 20, 2025

UN committee adopts resolution on North Korea's human rights abuses SEOUL, November 20 (AJP) - A resolution condemning North Korea's human rights violations was adopted by a UN committee, the Ministry of Foreign Affairs here said on Thursday. Quelling speculation that Seoul might withdraw under President Lee Jae Myung's rapprochement with Pyongyang, the resolution, co-sponsored by South Korea and 60 other countries, was passed at the UN General Assembly in New York the previous day for the 21st consecutive year and will be presented to the November 20, 2025

Poland becomes strategic base for Korean companies, banks SEOUL, November 20 (AJP) - Poland is emerging as a pivotal European base for South Korean manufacturers — and a fast-growing market for Korean financial institutions eager to support that investment. As companies pour capital into sectors such as batteries and defense, banks are moving quickly to meet rising demand for local financing. In a milestone for the industry, a Polish national has been appointed to lead a South Korean bank’s overseas branch for the first t November 20, 2025

Samsung Heavy lands $1.32 billion order for 7 container ships SEOUL, November 20 (AJP) - Samsung Heavy Industries announced on Thursday that it has secured a 1.92 trillion won (approximately $1.32 billion) order from an Asian shipowner to build seven container ships, scheduled for delivery by November 2029. Amid growing demand for greener vessels — especially LNG dual-fuel ships — this contract brings Samsung Heavy’s total orders this year to $6.9 billion. The order book includes seven LNG carriers, nine shuttle tankers, November 20, 2025

PHOTOS: Seoul's Namdaemun Market bustles with early holiday shoppers SEOUL, November 20 (AJP) - As the year's most festive season approaches, Namdaemun Market in central Seoul is bustling with steady streams of visitors and shoppers eager to snap up Christmas decorations and other pre-holiday items. The thrill of the year-end is already sweeping through the streets and shops, with Christmas decorations and their glowing lights illuminating every narrow alley of the market. Christmas carols and cheerful melodies are also filling the air, welcom November 20, 2025

South Korean banks post record earnings on FX gains SEOUL, November 20 (AJP) - South Korea’s banking sector logged record profits in the first nine months of the year, buoyed by a sharp rise in non-interest income as a weakening dollar lifted foreign-exchange and derivatives gains, according to preliminary figures released Thursday by the Financial Supervisory Service (FSS). Banks reported a combined net profit of 21.1 trillion won, up 12 percent — or 2.3 trillion won — from a year earlier. The FSS warned t November 20, 2025

TRAVEL: Tracing Korea's ancient roots in Boeun BOEUN, November 20 (AJP) - While relatively small, the county of Boeun in North Chungcheong Province has long served as a critical transport hub, imbuing it with significant strategic and cultural importance since ancient times. This rich past is preserved in a remarkable concentration of historic cultural assets, including the revered Beopjusa Temple on Songnisan Mountain, the formidable Sannyeonsanseong Fortress, and the grand Udang traditional house. Beopjusa Temple, a seren November 20, 2025