'Sarang' festival returns for 11th year, celebrating India–Korea friendship

SEOUL, September 29 (AJP) - The word "sarang" carries two meanings: in Korean, it means "love," and in Hindi it conveys "colorful and diversity." Organizers of the annual Festival of India in Korea said Monday that the dual meaning reflects the event's role as a bridge of friendship and cultural understanding between India and South Korea. Speaking at a press conference in Seoul on September 29, Nishi Kant Singh, Deputy Chief of Mission and Charg&

September 29, 2025

KOSPI bull run, recent IPO wins may spark 4Q rush led by K Bank

SEOUL, September 29 (AJP) - K Bank is poised to file for its third initial public offering (IPO) prospectus early next month, potentially triggering a flurry of delayed listings in the fourth quarter as Korea's equity market is expected to sustain a bullish rally through year-end. The eight-year-old online-only bank — Korea's first of its kind — had pledged its investors of a 1.15 trillion won rights offering in 2021 to complete its KOSPI debut by July 2026. Fa

September 29, 2025

Seoul Mayor apologizes after ferry service halted amid technical glitches

SEOUL, September 29 (AJP) - Seoul Mayor Oh Se-hoon apologized on Monday for halting a water ferry service along the Han River, just 10 days after its bombastic launch. During a press conference, he expressed "regret for causing inconvenience" to users due to the halt, just ahead of Chuseok, the country's biggest holiday, ruining many holidaymakers' plans to ride the ferry dubbed the "Hangang Bus." Citing minor defects that disrupted the eco-friendly fe

September 29, 2025

S. Korea launches alliance to lead in 'Physical AI' with backing from BlackRock

SEOUL, September 29 (AJP) - South Korea unveiled a new initiative on Monday aimed at securing a lead in what it calls “physical artificial intelligence,” a field that integrates advanced computing with the physical world, from robotics to autonomous vehicles. The Physical AI Global Alliance, as the project is known, is supported by a multibillion-dollar investment commitment from BlackRock, the American asset management firm, and forms part of the government’s

September 29, 2025

Xi's appearance at N. Korea's military parade quietly speculated after foreign ministers' meeting

SEOUL, September 29 (AJP) - Speculation is cautiously building up over the possibility of Chinese President Xi Jinping making a ceremonial appearance at a military parade in Pyongyang next month, timed with the 80th anniversary of North Korea's Workers' Party. Such a trip would be seen as a reciprocal gesture after Kim Jong-un's train journey to Beijing earlier this month to attend China's "Victory Day" military extravaganza, as foreign ministers from the tw

September 29, 2025

Taekwang Industry bets on K-beauty with Aekyung acquisition

SEOUL, September 29 (AJP) - Taekwang Industry has been selected as the preferred bidder to acquire a controlling stake in Aekyung Industry, a move its leadership is casting as a strategic entry into South Korea’s booming K-beauty market. The company said Monday that its consortium would purchase about 63 percent of Aekyung’s shares in a deal valued at roughly 400 billion won, or $293 million. If completed, the transaction would mark a significant shift for Taekwang,

September 29, 2025

Digital front-runner Korea chagrined by lack of backup for e-government

SEOUL, September 29 (AJP) - South Korea tops the OECD scale in digitalization and proudly teaches and exports e-government strategy and systems, which may explain the chagrin and furor over the mass-scale crippling of the public-sector electronic system. Much of the work at public-service windows had to be handled in person after an outage caused by a battery fire at the National Information Resources Service (NIRS) data center in Daejeon, which brought down 647 civil service syst

September 29, 2025

HD Hyundai Mipo wins $167 million order for 3 container ships

SEOUL, September 29 (AJP) - HD Hyundai Mipo, a subsidiary of South Korea’s HD Hyundai, said Monday that it had won a contract to build three container ships worth 222 billion won, or about $167 million, from an Oceania-based shipping company. The order calls for two 2,800-TEU container vessels and one 1,800-TEU container vessel, all to be constructed at the company’s Ulsan shipyard and delivered by October 2027. The so-called feeder ships, which typically carry fewer

September 29, 2025

Injury-hampered Yang Hak-seon calls time on gymnastics career

SEOUL, September 29 (AJP) - Gymnast Yang Hak-seon has retired after a pre-tune-up last Saturday ahead of next month's annual National Sports Festival in Busan, bringing his athletic career to a close. Yang made history by winning a gold medal in the vault at the 2012 London Olympics. He also claimed victories in the vault at the 2011 and 2013 World Championships, showcasing his outstanding skills in the discipline. He showcased his prowess on the vault through his eponymous

September 29, 2025

South Korea, US to discuss visa issues in first working-level meeting after Georgia raid

SEOUL, September 29 (AJP) - Officials from South Korea and the U.S. will hold a meeting in Washington, D.C., on Tuesday to discuss visa-related issues, the Ministry of Foreign Affairs here said on Monday. The first working-level meeting between South Korea and the U.S. since the "voluntary" deportation of over 300 South Korean workers, following a week-long detention earlier this month, aims to discuss ways to facilitate the entry of South Korean workers into the U.S. and addr

September 29, 2025