KEPCO, KHNP to seek international arbitration over additional costs from UAE nuclear project

SEOUL, February 24 (AJP) - Korea Electric Power Corp. (KEPCO) and its subsidiary Korea Hydro & Nuclear Power (KHNP) are preparing for international arbitration over $1 billion of additional costs related to the Barakah nuclear power plant project in the United Arab Emirates. Negotiations between the two entities have stalled, sources said. Recent discussions between KEPCO’s chief executive, Kim Dong-chul, and KHNP’s president, Hwang Joo-ho, failed to resolve the

February 24, 2025

Speed skater Lee Seung-hoon wins first World Cup gold in seven years

SEOUL, February 24 (AJP) - South Korean speed skater Lee Seung-hoon won his first ISU World Cup gold medal in seven years, triumphing in the men’s mass start race on Monday in Poland. Competing in Tomaszów Mazowiecki, the 36-year-old finished the race in 7 minutes, 48.05 seconds, edging out Bart Hoolwerf of the Netherlands (7:48.50) and Andrea Giovannini of Italy (7:48.56). This is Lee’s first World Cup gold medal since December 2017, when he last won a race

February 24, 2025

US commerce chief pledges fast-track support for Korean investors

SEOUL, February 24 (AJP) - U.S. Secretary of Commerce Howard Rutnik has vowed to streamline regulatory procedures for South Korean companies planning investments of $1 billion or more in the United States. The pledge came during a 40-minute meeting in Washington with a high-level South Korean business delegation, led by Chey Tae-won, chairman of SK Group and head of the Korea Chamber of Commerce and Industry. Executives from South Korean companies, including Samsung Electronics,

February 24, 2025

Trump targets foreign tech regulations, raising alarm in Seoul

SEOUL, February 24 (AJP) - A new memorandum signed by U.S. President Donald Trump is raising concerns in South Korea, as the directive calls for investigations into foreign governments that impose regulations on American technology firms. The move could threaten South Korea’s efforts to impose greater oversight on big tech companies. The directive, signed on Feb. 21, instructs the United States Trade Representative (USTR) to examine and, if necessary, implement retaliatory

February 24, 2025

Seoul to provide Korean language programs for students with non-native parents

SEOUL, February 24 (AJP) - In a bid to support students struggling with the Korean language due to their parents' immigrant background, Seoul will offer Korean language programs at universities starting in March. The Seoul Metropolitan Office of Education announced Sunday that the language courses will serve as alternative education programs, offering accredited academic credits, with attendance and curriculum reflected in the students’ home schools. Certified teachers w

February 24, 2025

Fathers make up over 30 percent of parental leave users in South Korea for the first time

SEOUL, February 23 (AJP) - For the first time, more than 30 percent of all parental leave users in South Korea were fathers last year, showing that more men are willing to take time off to care for their children. According to the Ministry of Employment and Labor on Sunday, 256,771 people used work-life balance programs, such as maternity and parental leave, in 2024. This is an increase of 7.2 percent compared to the previous year. In South Korea, it is still uncommon for men to t

February 23, 2025

INTERVIEW: World-OKTA committed to empowering Korean businesses to go global

SEOUL, February 23 (AJP) - World-OKTA (World Federation of Overseas Korean Traders Associations) plays a pivotal role in connecting South Korean entrepreneurs worldwide and supporting the global expansion of small and medium-sized enterprises (SMEs). Established in 1981 by South Korean entrepreneurs working abroad to promote exports and economic growth, the organization now operates in 151 cities across 71 countries. With approximately 7,000 full members and 32,000 associate membe

February 23, 2025

North Korea remains on FATF blacklist for 15th consecutive year

SEOUL, February 22 (AJP) - North Korea has been re-listed on the Financial Action Task Force (FATF) blacklist for the 15th year in a row, maintaining its status as a high-risk jurisdiction for money laundering and terrorist financing. The FATF said Friday that North Korea, Iran, and Myanmar remain on its list of “high-risk jurisdictions,” the highest warning level designated by the organization. "The FATF remains concerned by the DPRK's continued fail

February 22, 2025

North Korea directly names Trump administration, warns of response

SEOUL, February 22 (AJP) - North Korea warned on Saturday that it will respond to the “enemies’ military strategic threat” with its own "strategic means," directly naming the Trump administration for the first time. A statement from the chief of the Information Office at North Korea’s Ministry of National Defense on Saturday said, “Since the emergence of the Trump administration, the U.S. and its vassal forces are getting evermore pronoun

February 22, 2025

Trump warns of tariffs over foreign regulations on U.S. tech firms

SEOUL, February 22 (AJP) - U.S. President Donald Trump said Friday that he would take strong action, including tariffs, against foreign governments imposing unfair regulations on American tech giants like Google, Amazon, and Meta. “What they’re doing to us in other countries is terrible with digital,” Trump said on Friday, directing his administration to address what he described as unfair trade practices harming U.S. companies. He accused foreign governments o

February 22, 2025