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  PHOTOS: Kazakhstan envoy, AJP chairman explore cooperation opportunities SEOUL, January 21 (AJP) - Kazakhstan’s Ambassador to South Korea, Nurgali A. Arystanov, visited Aju News Corporation in Seoul on Tuesday to explore avenues for future collaboration with Aju Chairman Kwak Young-kil. Aju News Corporation, a leading South Korean media group, operates the AJP news agency, Aju Business Daily, Aju TV, and other media outlets. During the meeting, Ambassador Arystanov and Chairman Kwak discussed joint initiatives to strengthen media partnerships, promote cul January 21, 2025
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  Over 30 million people expected to travel during Lunar New Year holiday SEOUL, January 21 (AJP) - More than 30 million people are expected to travel during the upcoming Lunar New Year holiday, which begins this weekend. According to a survey from the Korea Transport Institute, about 34.84 million people plan to visit their ancestral hometowns or travel overseas for the weeklong holiday, up 29 percent from last year. The annual Lunar New Year exodus is forecast to peak on next Tuesday with some 6 million hitting the road to their hometowns, but their January 21, 2025
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  PHOTO: Yoon appears for hearing in impeachment trial SEOUL, January 21 (AJP) - President Yoon Suk Yeol, detained in a solitary cell on charges of insurrection and abuse of power, appeared for a hearing in his impeachment trial at the Constitutional Court of Korea in central Seoul on Tuesday January 21, 2025
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  Lee Jae-myung meets bank CEOs, calls for increased support for small businesses SEOUL, January 21 (AJP) - South Korea's opposition leader Lee Jae-myung convened a meeting with the heads of the country’s major banks on Tuesday, urging them to provide stronger financial support for small business owners and self-employed workers. The gathering drew criticism from Lee's political rivals, who questioned the appropriateness of the meeting, suggesting it could be an attempt to bolster his profile ahead of a potential presidential bid. Lee, widely reg January 21, 2025
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  Major Korean banks to shed over 2,000 jobs through early retirement programs SEOUL, January 21 (AJP) - South Korea's five largest banks are set to shed more than 2,000 jobs this year through voluntary retirement programs, a 20 percent increase from the 1,967 departures recorded in 2024, as they accelerate digital transformation and reduce physical branch networks. KB Kookmin has already approved 647 voluntary retirements as of Jan. 17, while Shinhan confirmed 541 departures - more than double the 234 recorded last year. Woori anticipates around 500 emp January 21, 2025
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  Trump's policy shift poses challenges for Korean industries SEOUL, January 21 (AJP) - On his first day in office, Jan. 20, U.S. President Donald Trump unveiled sweeping policy changes, including a directive to reassess existing trade agreements and a plan to roll back electric vehicle (EV) mandates. The moves, analysts suggest, could have far-reaching implications for South Korea’s economy. In a memorandum titled America First Trade Policy, Trump instructed the United States Trade Representative (USTR) to review all existing trade a January 21, 2025
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  Far-right YouTubers blamed for last week's violent court intrusion in Seoul SEOUL, January 21 (AJP) - Rising speculations suggest that far-right YouTubers were the main culprits behind last Sunday's chaotic intrusion into a court in Seoul by die-hard supporters of President Yoon Suk Yeol, who resorted to violence in protest of the president's arrest over last month's botched martial law debacle. Some extreme YouTubers, who use their channels as their primary source of income, often rely on a slew of fake or provocative news to attract attention. January 21, 2025
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  OPINION: How Korea can emerge from uncertainty to discover a brighter future SEOUL, January 21 (AJP) - Korea’s reputation as a developed country took a big hit with the ongoing crisis over President Yoon Suk Yeol’s martial law bid. Not only did it raise questions internationally about political stability, but it has also led business people to worry whether the legal system works to the level expected of a developed country. It is no surprise then that foreign investors have been withdrawing from the market and that the value of the won has January 21, 2025
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  BOK cuts 2025 growth forecast, citing negative impact from martial law SEOUL, January 21 (AJP) - South Korea’s central bank has revised its 2025 economic growth forecast downward to a range of 1.6 to 1.7 percent from an earlier estimate of 1.9 percent. The Bank of Korea (BOK) attributed the adjustment to heightened political uncertainty and a slump in consumer confidence following December’s martial law declaration and the deadly Jeju Air incident. In a statement released Monday, the BOK indicated that growth in the fourth quarter of 2 January 21, 2025
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  Trump calls North Korea 'nuclear power' SEOUL, January 21 (AJP) - Donald Trump, who was just sworn in as the 45th U.S. President in Washington, D.C. on Monday, referred to North Korea as a "nuclear power" and recalled his "good relationship" with the renegade country's leader Kim Jong-un during his first presidency in 2017. "I was very friendly with him. He liked me. I liked him. We got along very well. I think he will be happy to see me coming back," Trump said while signing a raft of ex January 21, 2025