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  Hyundai Motor's three EVs lose US tax credits SEOUL, January 21 (AJP) - Hyundai Motor has lost eligibility for U.S. federal tax credits on three of its electric vehicle models. The U.S. Department of Energy’s latest federal tax credit list no longer includes Hyundai’s Ioniq 5, Ioniq 9, and Genesis GV70 electric models. Earlier this month, all five models from Hyundai Motor had been eligible for the $7,500 tax credit. Sister company Kia’s EV6 and EV9 models remain on the list of 23 electric and plug-in hybri January 21, 2025
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  Yoon denies impeachment allegations during trial SEOUL, January 21 (AJP) -South Korean President Yoon Suk Yeol denied allegations linked to his impeachment during his testimony at the Constitutional Court on Tuesday, saying he neither ordered lawmakers to be forcibly removed from parliament nor intended to implement martial law despite issuing an emergency decree in December. Yoon, detained in a solitary cell on charges of insurrection and abuse of power, appeared for a hearing in his impeachment trial which started at 2:00 p.m. January 21, 2025
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  As Trump takes office, uncertainty looms for South Korea amid power vacuum SEOUL, January 20 (AJP) - As U.S. President Donald Trump is sworn in as the 45th President of the U.S. in Washington, D.C. on Monday, as South Korea is bracing for potential shifts in its diplomatic relations with its key ally. Trump's inauguration inside the Capitol, the first indoor ceremony since 1985 due to bitterly cold weather, comes just a day after South Korean President Yoon Suk Yeol was arrested and incarcerated over his botched martial law debacle last month, making a January 20, 2025
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  Season's first fine dust advisory issued for Seoul SEOUL, January 20 (AJP) - This winter's first ultra-fine dust advisory was issued for the Seoul metropolitan area on Monday. The advisory was issued by the Seoul Government Research Institute of Public Health and Environment as Seoul's average ultra-fine dust concentration or PM 2.5 density was 97 ㎍/㎥ as of noon and remained at very harmful levels throughout the day. Such advisories are issued when the hourly average concentration of PM 2.5 exceeds 75 ㎍/㎥ for more tha January 20, 2025
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  Lotte Card faces uncertain prospects in second sale attempt SEOUL, January 20 (AJP) - The owner of South Korea’s Lotte Card is making a renewed effort to sell the company, distributing teaser letters to potential buyers amid skepticism about whether major financial groups will step up to make a bid. Industry insiders suggest the success of the sale hinges on participation from leading financial players like KB Financial Group and Hana Financial Group. However, both companies have demonstrated a cautious approach to mergers and acquisit January 20, 2025
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  Police in another attempt to search for evidence in martial law debacle SEOUL, January 20 (AJP) - Police on Monday raided President Yoon Suk Yeol's personal quarters in Samcheong-dong as well as an office for his security officials at the presidential office in Yongsan, Seoul. In another attempt to search for evidence related to his botched martial law debacle last month including CCTV footage, investigators from the National Office of Investigation arrived each site around 1:30 p.m. Monday's raid came just a few weeks after their previous at January 20, 2025
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  Dozens of Yoon's young die-hard supporters to face arrest after violent court intrusion SEOUL, January 20 (AJP) - Over half of the protesters who were arrested for storming a court in Seoul on Sunday were mostly young die-hard supporters of President Yoon Suk Yeol, according to police authorities. The Seoul Metropolitan Police Agency (SMPA) said on Monday that 46 of the 90 protesters, who caused a violent disturbance to prevent Yoon's arrest over his martial law debacle last month, were those in their 20s and 30s, making up about 51 percent. Police detained them January 20, 2025
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  PHOTOS: Kyungdong Market in eastern Seoul offers authentic slice of local life Editor's Note: This is the first of a special photo series exploring Kyungdong Market, one of Seoul's biggest traditional marketplaces. SEOUL, January 20 (AJP) - While Hongdae is known for its trendy appeal to young people and tourists, Kyungdong Market in eastern Seoul has earned the affectionate nickname "Hongdae for seniors," serving as a lively social and shopping hub for the city's elderly residents since the 1960s. As Seoul's largest traditional market, Kyun January 20, 2025
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  Korean companies see opportunities, risks under Trump SEOUL, January 20 (AJP) - Korean conglomerates are bracing for a reshaped global business environment as Donald Trump takes office as the 47th president of the United States on Monday. The ripple effects of his return to the White House are expected to touch industries ranging from semiconductors to automotive manufacturing, batteries, shipbuilding, and oil refining. Korean companies are adopting a cautious yet proactive approach as they navigate the shifting U.S.-South Korea b January 20, 2025
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  Korean petrochemical firms seek $1.37 billion by issuing bonds SEOUL, January 20 (AJP) - South Korea’s leading petrochemical companies are turning to corporate bonds in a bid to raise approximately 2 trillion won ($1.37 billion) in early 2025, as the industry struggles against intensifying competition from China and the Middle East. The combined operating profit of South Korea’s top four petrochemical firms — LG Chem, Lotte Chemical, Hanwha Solutions, and Kumho Petrochemical — plunged to 237.7 billion won in 2024, a stag January 20, 2025