A freezing first day of work in 2026 SEOUL, January 02 (AJP) -The first working day of 2026 dawned in an Arctic freeze, sending Seoulites hurrying through Gwanghwamun not so much to resume work as to get out of the cold. Beneath a pale winter sky, commuters crossed the intersection in central Seoul, bundled in heavy coats as icy air settled over the city. A surge of cold air from the northwest had pushed morning temperatures to around minus 12 degrees Celsius, forcing people into thick coats, scarves and gloves as th January 2, 2026

Hanwha chairman pledges AI defense push, deeper Korea-US shipbuilding ties SEOUL, January 02 (AJP) - South Korea's Hanwha Group is eager to strengthen its long-term competitiveness by securing core technologies in key businesses, including artificial intelligence-driven defense systems, while playing a leading role in South Korea-U.S. shipbuilding cooperation, Chairman Kim Seung-youn said in a New Year's message on Friday. Kim said Hanwha had spearheaded bilateral industrial cooperation symbolized by the MASGA initiative and grown into a national January 2, 2026

South Korea splits economy ministry in major overhaul of economic governance SEOUL, January 02 (AJP) - South Korea on Friday formally split the Ministry of Economy and Finance into two separate ministries, a move the government says will strengthen fiscal discipline and policy accountability but that raises questions about coordination in economic crisis management. The reorganization creates the Ministry of Planning and Budget and the Ministry of Finance and Economy, separating budget authority from macroeconomic, financial and tax policy. The two minis January 2, 2026

KOSPI kicks off new year while most Asian markets stay closed SEOUL, January 2 (AJP) - Most Asian bourses remained closed for New Year celebrations on Friday, while South Korea's stock market opened an hour later than usual, amid expectations of reaching a new all-time high for the year. With Taiwan's TAIEX and Hong Kong's Hang Seng Index open, South Korea's benchmark KOSPI opened higher, up 0.57 percent at 4,238. Having already surpassed its previous intraday peak, attention now turns to whether it can close above its record h January 2, 2026

Korea's growth reliant on IT sector as inflation risks linger: BOK chief SEOUL, January 02 (AJP) - South Korea’s economy would grow just 1.4 percent this year if the information technology sector were excluded, the country’s central bank chief said Friday, warning that uneven recovery across industries could leave households feeling worse off than headline growth figures suggest. Bank of Korea Governor Rhee Chang-yong said in a New Year’s message that overall economic growth is projected at 1.8 percent this year, up from 1 percent January 2, 2026

Seoul shivers through freezing start to new year SEOUL, January 2 (AJP) - Biting cold continues to linger, with morning lows in Seoul and other metropolitan areas plunging to -12 degrees Celsius on Friday. According to the Seoul Metropolitan Government, the freezing temperatures brought plenty of incidents including burst pipes, although no cold-related illnesses such as hypothermia were reported. As the cold wave advisory issued by the Korea Meteorological Administration on New Year's Eve remained in place, the city govern January 2, 2026

Taiwan, Singapore surge on chip boom while Korea lags at 1% amid regulatory drag SEOUL, January 02 (AJP) -Taiwan and Singapore posted markedly stronger economic growth in 2025, powered by the global semiconductor boom, while South Korea lagged far behind despite being one of the world’s leading chip producers, highlighting the growing role of regulatory and policy conditions in shaping economic performance. Taiwan’s economy is projected to have expanded by 7.37 percent last year, according to last estimate by the Directorate-General of Budget, Accoun January 2, 2026

Kim Jong-un's daughter makes first public visit to family mausoleum SEOUL, January 2 (AJP) - North Korean leader Kim Jong-un ushered in the new year with a visit to the mausoleum where the embalmed bodies of his grandfather and regime founder Kim Il-sung, and his father Kim Jong-il lie in state, state media reported on Friday. According to the state-run Korean Central News Agency (KCNA), he "paid New Year greetings to the great leaders" at the Kumsusan Palace of the Sun the previous day, accompanied by senior officials and top mili January 2, 2026

Hyundai Motor Group to showcase AI robotics strategy at CES 2026 SEOUL, January 02 (AJP) - Hyundai Motor Group plans to present robotics-centered visions for future mobility at CES 2026, highlighting a broader industry shift from vehicles toward robots and artificial intelligence, industry officials said Friday. Hyundai Motor Group will attend CES 2026, which opens next week in Las Vegas, where it will outline its core strategy for AI-driven robotics. A key highlight will be the first live demonstration of Atlas, the humanoid robot develop January 2, 2026

Tesla price cuts set to spur EV competition in South Korea SEOUL, January 02 (AJP) - Tesla’s decision to cut prices on key electric-vehicle models in South Korea is expected to intensify competition in the country’s EV market, as expanded government subsidies and the growing presence of imported brands put pressure on domestic automakers. The U.S. firm has discounted the Model 3 Performance all-wheel-drive version by up to 9 million won ($760), lowering its price below 60 million won, the threshold for eligibility for South January 2, 2026