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  South Korea keeps sovereign credit ratings despite martial law crisis SEOUL, December 10 (AJP) - The Big Three global credit rating agencies have maintained South Korea's sovereign credit ratings despite the unprecedented declaration of martial law, citing the country's economic fundamentals and effective crisis management. Fitch Ratings maintained South Korea's rating at 'AA-' with a stable outlook, a grade it has kept since upgrading from 'A+' in 2012. Moody's and S&P Global Ratings also kept their ratings at ' December 10, 2024
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  Ex-defense chief to skip arrest warrant hearing over alleged collusion with Yoon SEOUL, December 10 (AJP) - Former Defense Minister Kim Yong-hyun will not attend his arrest warrant hearing scheduled for Tuesday. Prosecutors requested his arrest warrant the previous day for allegedly conspiring with President Yoon Suk Yeol in the abrupt declaration of martial law that shook the nation last week. The warrant states that Kim allegedly colluded with Yoon to carry out the late-night mission last Tuesday, accusing him of abuse of authority and treason. Prosecuto December 10, 2024
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  OPINION: Abu Mohammed al-Golani may become face of post-Assad Syria SEOUL, December 10 (AJP) - The fall of President Bashar al-Assad has left a critical question: After a half-century of brutal dynastic rule has come to an end, who speaks for Syrians now? One group staking a major claim for that role is Hayat Tahrir al-Sham, which, under the leadership of Abu Mohammad al-Golani, spearheaded the opposition advance that toppled Assad. But what does the group stand for? And who is al-Golani? The Conversation turned to Sara Harmouch, an expert on Isl December 10, 2024
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  Prosecutors seek arrest warrant for ex-defense chief over martial law declaration SEOUL, December 9 (AJP) -- Seoul prosecutors on Monday requested a court warrant to arrest former Defense Minister Kim Yong-hyun in connection with the Dec. 3 martial law declaration. President Yoon Suk Yeol imposed martial law last Tuesday and sent armed forces to the National Assembly. The measure was canceled six hours later after the parliament voted against it. Kim, who allegedly played a key role in proposing and implementing the emergency decree, faces charges of insurrect December 10, 2024
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  Korea's financial markets rattle amid political crisis SEOUL, December 9 (AJP) - South Korea's financial markets took a sharp hit Monday as the nation grappled with political uncertainty following President Yoon Suk Yeol's martial law declaration last week. The Korean won tumbled against the U.S. dollar, nearing the 1,440 mark, and stock indices plunged to year-to-date lows. The won closed at 1,437 per dollar, marking its weakest level since October 2022. During intraday trading, the exchange rate reached 1,438.3, sparking December 9, 2024
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  ​​​​​​​Martial law crisis won't impact Korea-US alliance, Austin says SEOUL, December 09 (AJP) - U.S. Defense Secretary Lloyd Austin said Monday South Korea's recent martial law crisis won't affect the "ironclad" alliance between the two countries. "Our relationship with the ROK (Republic of Korea) is ironclad, and I expect that it will continue to be," Austin told reporters aboard the USS George Washington aircraft carrier at Yokosuka Naval Base near Tokyo. He noted that high-level military communications continue u December 9, 2024
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  Yoon's approval rating nosedives SEOUL, December 9 (AJP) - President Yoon Suk Yeol's approval rating has dipped to an all-time low since he took office, according to a poll. In a Realmeter poll of some 1,012 people nationwide surveyed last week and released on Monday, only 17.3 percent of respondents said Yoon is doing a good job, down 7.7 percentage points from a week earlier. After his aborted martial law gambit last week, his disapproval rating rose to 79.2 percent, up 8.2 percentage point from the previo December 9, 2024
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  Foreign investors retreat from South Korean markets amid political uncertainty SEOUL, December 9 (AJP) -- South Korea's financial markets are experiencing significant outflows of foreign investment following the Dec. 3 martial law declaration and subsequent political developments. On Monday, the benchmark KOSPI fell below the 2,400 mark and closed at 2,360.58, down 2.78 percent, while the tech-heavy KOSDAQ index plunged 5.19 percent. Foreign investors sold 725.5 billion won ($556 million) worth of shares in the two days following the martial law declara December 9, 2024
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  Assembly panel passes bill for special counsel probe into Yoon's martial law declaration SEOUL, December 9 (AJP) - A National Assembly committee on Monday approved a proposal to appoint a permanent special counsel to investigate President Yoon Suk Yeol and top officials on charges of rebellion and other allegations related to his aborted martial law declaration last week. The proposal, led by the main opposition Democratic Party, passed the Legislation and Judiciary Committee and is expected to be put to a vote during a plenary session on Tuesday. Unlike a regular sp December 9, 2024
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  Korean battery makers' global market share falls to 20 percent SEOUL, December 9 (AJP) - South Korea's three major electric vehicle (EV) battery manufacturers - LG Energy Solution, Samsung SDI Co. and SK On - saw their combined global market share decline to 20.2 percent in the first 10 months of 2024, marking a significant drop from 31.7 percent in the same period of 2021, a global analytics firm reported on Monday. The market share erosion comes as Chinese rivals, led by the world's largest EV battery maker CATL and automotive giant B December 9, 2024