Can Lee's visit to China 'open new chapter' in bilateral relations? SEOUL, January 2 (AJP) - Economic cooperation would be a key topic at President Lee Jae Myung's summit with Chinese President Xi Jinping in Beijing next week. During a press briefing at Cheong Wa Dae on Friday, just days ahead of Lee's four-day trip to China starting Sunday, national security adviser Wi Sung-lac said the two leaders will have "in-depth discussions to strengthen bilateral relations and come up with practical steps to address 'livelihood and peace&# January 2, 2026

China's silver export curb adds cost pressure on Korea' tech activities SEOUL, January 02 (AJP) - China’s move to tighten controls on silver exports is set to add fresh cost pressure on South Korean industries heavily reliant on the precious metal, at a time when prices are already surging on strong demand from high-tech and clean-energy sectors. From Jan. 1, exporters in China must obtain government approval to ship silver overseas, after Beijing added the metal to its “2026 List of Goods Subject to Export Licensing Administration.” January 2, 2026

Hyundai Group chair urges 'readiness' for inter-Korean exchanges SEOUL, January 02 (AJP) - As the Lee Jae Myung administration signals renewed efforts to ease tensions with North Korea, Hyundai Group Chair Hyun Jeong-eun said the conglomerate must be ready to act swiftly should conditions for inter-Korean economic cooperation improve. In a New Year’s message to employees on Friday, Hyun reaffirmed her support for engagement with North Korea, saying expectations are rising again for a thaw on the Korean Peninsula. She expressed hope f January 2, 2026

PHOTOS: Sculptures mark 'Year of Red Horse' SEOUL, January 02 (AJP) - To mark the start of 2026, the Year of the Red Horse, World Cup Park in Mapo-gu, Seoul, has unveiled horse sculptures crafted entirely from silver grass, drawing crowds of local residents and tourists alike. The centerpiece installations, symbolizing the "Red Horse," were constructed using natural silver grass harvested from the park. The eco-friendly displays blend traditional zodiac symbolism with the seasonal beauty of the park’s natura January 2, 2026

Seoul's lantern festival extended for two more weeks SEOUL, January 2 (AJP) - Seoul's annual lantern festival along the Cheonggye Stream will be extended by two more weeks, organizers said on Friday. In its 17th year, the festival featuring around 500 lanterns made from traditional handmade paper, as well as glowing displays and other festive decorations, was supposed to close this weekend but will now continue to illuminate the capital until mid-January. The extension came as the festival has drawn nearly 300 million people January 2, 2026

A freezing first day of work in 2026 SEOUL, January 02 (AJP) -The first working day of 2026 dawned in an Arctic freeze, sending Seoulites hurrying through Gwanghwamun not so much to resume work as to get out of the cold. Beneath a pale winter sky, commuters crossed the intersection in central Seoul, bundled in heavy coats as icy air settled over the city. A surge of cold air from the northwest had pushed morning temperatures to around minus 12 degrees Celsius, forcing people into thick coats, scarves and gloves as th January 2, 2026

Hanwha chairman pledges AI defense push, deeper Korea-US shipbuilding ties SEOUL, January 02 (AJP) - South Korea's Hanwha Group is eager to strengthen its long-term competitiveness by securing core technologies in key businesses, including artificial intelligence-driven defense systems, while playing a leading role in South Korea-U.S. shipbuilding cooperation, Chairman Kim Seung-youn said in a New Year's message on Friday. Kim said Hanwha had spearheaded bilateral industrial cooperation symbolized by the MASGA initiative and grown into a national January 2, 2026

South Korea splits economy ministry in major overhaul of economic governance SEOUL, January 02 (AJP) - South Korea on Friday formally split the Ministry of Economy and Finance into two separate ministries, a move the government says will strengthen fiscal discipline and policy accountability but that raises questions about coordination in economic crisis management. The reorganization creates the Ministry of Planning and Budget and the Ministry of Finance and Economy, separating budget authority from macroeconomic, financial and tax policy. The two minis January 2, 2026

KOSPI kicks off new year while most Asian markets stay closed SEOUL, January 2 (AJP) - Most Asian bourses remained closed for New Year celebrations on Friday, while South Korea's stock market opened an hour later than usual, amid expectations of reaching a new all-time high for the year. With Taiwan's TAIEX and Hong Kong's Hang Seng Index open, South Korea's benchmark KOSPI opened higher, up 0.57 percent at 4,238. Having already surpassed its previous intraday peak, attention now turns to whether it can close above its record h January 2, 2026

Korea's growth reliant on IT sector as inflation risks linger: BOK chief SEOUL, January 02 (AJP) - South Korea’s economy would grow just 1.4 percent this year if the information technology sector were excluded, the country’s central bank chief said Friday, warning that uneven recovery across industries could leave households feeling worse off than headline growth figures suggest. Bank of Korea Governor Rhee Chang-yong said in a New Year’s message that overall economic growth is projected at 1.8 percent this year, up from 1 percent January 2, 2026