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  Bank branches, ATMs shrink as digital banking grows SEOUL, November 26 (AJP) - South Korea's banking landscape is undergoing a significant transformation, with a sharp decline in both physical branches and automated teller machines (ATMs). According to the Financial Supervisory Service (FSS), Tuesday, the country lost 1,189 bank branches over the past five years, leaving 5,690 operational as of last month. Additionally, the number of ATMs dwindled by 9,307 during the same period, reaching 27,157. The closure of branches and November 26, 2024
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  North Korea cuts power lines to shuttered industrial complex in Kaesong SEOUL, November 26 (AJP) - North Korea has severed power lines and cables that once supplied electricity to the cross-border Kaesong Industrial Complex in the North Korean border city of Kaesong, military authorities here said on Tuesday. The South Korean military has detected North Korean soldiers dismantling part of power lines near the now-shuttered industrial complex since last weekend. These lines, part of a network built by South Korea, were connected to transmission towers November 26, 2024
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  PHOTOS: Shantytown residents protest for housing rights as redevelopment looms SEOUL, November 26 (AJP) - Residents of Guryong Village, the last remaining shantytown in Seoul's affluent Gangnam district, are demanding their housing rights as the village is slated to be redeveloped into an apartment complex, requiring their relocation. They erected a five-story tower in front of their village to demonstrate their resolve and staged a protest over the weekend. They are seeking assistance in finding new homes or moving into a new apartment complex that will be built November 26, 2024
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  OPINION: BRICS+ countries are determined to trade in their own currencies – but can it work? SEOUL, November 26 (AJP) - BRICS+ countries are exploring how they can foster greater use of local currencies in their trade, instead of relying on a handful of major currencies, primarily the U.S. dollar and the euro. The forum for cooperation among nine leading emerging economies – Brazil, China, Egypt, Ethiopia, India, Iran, Russian Federation, South Africa, United Arab Emirates – emphasized this determination at their 16th summit in October 2024. Economist Lauren November 26, 2024
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  Hyundai, Toyota chiefs meet to discuss hydrogen collaboration SEOUL, November 25 (AJP) - The leaders of South Korea's largest automaker Hyundai Motor Co. and Japan's Toyota Motor Corp. met for the second time in a month to discuss potential cooperation in hydrogen vehicle technology, marking a significant shift in the relationship between the world's first and third-largest automakers. Hyundai Motor Group Chairman Chung Eui-sun and Toyota Chairman Akio Toyoda convened at the final round of 2024 World Rally Championship held in Toyo November 25, 2024
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  Opposition leader cleared of perjury charges, but legal battles continue SEOUL, November 25 (AJP) - Opposition leader Lee Jae-myung was cleared on Monday of charges that he had pressured a witness to provide false testimony in his favor. The Seoul Central District Court found Lee not guilty as there was insufficient evidence to support the allegations that the leader of the main opposition Democratic Party had coerced a former mayoral secretary into committing perjury on his behalf. In a series of legal battles that could threaten his November 25, 2024
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  ATEEZ's latest album debuts at No. 1 on Billboard 200 SEOUL, November 25 (AJP) - K-pop boy band ATEEZ topped the Billboard 200 albums chart with their latest album, the U.S. music chart said on Sunday. Their 11th mini-album "Golden Hour: Part.2" took the top spot for the week ending on Nov. 21, with over 179,000 copies sold in its first week of release. The album is "the 26th mostly non-English-language album to hit No. 1, and the third of 2024," Billboard said. The album explores themes of love and self-disco November 25, 2024
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  First Korean-style industrial complex will open in northern Viet Nam SEOUL, November 25 (AJP) - South Korea has completed its first Korean-style industrial complex in northern Viet Nam, covering about 1.43 million square meters. The complex will serve as an export hub for Korean firms. The project was developed through a joint venture, with South Korean entities, including Korea Land and Housing Corporation (LH) and Korea Overseas Infrastructure and Urban Development Corporation (KIND), holding a 75 percent stake, and Viet Nam's TDH EcoLand hol November 25, 2024
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  Russia warns South Korea against possible supply of lethal weapons to Ukraine SEOUL, November 25 (AJP) - Russia warned that South Korea's supply of lethal weapons to Ukraine would "fully destroy relations" with Moscow, a senior Russian official said Sunday. "Seoul must realize that the possible use of South Korean weapons to kill Russian citizens will fully destroy relations" between the two countries, Moscow's Deputy Foreign Minister Andrey Rudenko told the country's state-run news agency TASS. "We will respond in every November 25, 2024
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  OPINION: Russia needs peace deal soon as it is running out of soldiers SEOUL, November 25 (AJP) - For Vladimir Putin, Donald Trump's win couldn't come soon enough. Putin may reportedly accept a deal where Moscow gains significant territory in Ukraine (about the size of the U.S. state of Virginia) and Ukraine remains neutral and forgets about any plans to join NATO or the EU. Though Ukraine is experiencing war fatigue, so is Russia. Russia is making steady advances in the Donetsk region of Ukraine, but the Kremlin is still struggling to recruit November 25, 2024