Korea, Saudi Arabia launch joint initiative to help small companies

SEOUL, June 25 (AJP) - South Korea’s Ministry of SMEs and Startups (MSS) announced on Wednesday a new initiative aimed at helping small and medium-sized enterprises break into the rapidly evolving Saudi Arabian market. Starting July 7, the ministry will begin accepting applications from Korean companies interested in launching operations in Saudi Arabia under a government-backed program designed to overcome longstanding regulatory, cultural, and religious barriers. Despit

June 25, 2025

South Korean central bank warns of stablecoin risks to financial stability

SEOUL, June 25 (AJP) - South Korea’s central bank and the Bank for International Settlements (BIS) have raised fresh alarms over the systemic risks posed by the rapid rise of stablecoins, warning that widespread adoption could trigger destabilizing financial shocks and threaten monetary sovereignty. In its financial stability report released Wednesday, the Bank of Korea cautioned that stablecoins — cryptocurrencies pegged to traditional currencies — are vulnerable

June 25, 2025

Chinese ambassador urges Korea to reject protectionism, stresses value of China ties

SEOUL, June 25 (AJP) - Chinese Ambassador to South Korea Dai Bing on Wednesday warned that the world is facing a period of historic upheaval and urged South Korea to stand firm against rising protectionism by maintaining close economic ties with China. Dai made the remarks during the Korea Economic Design Forum (KEDF), held at the CCMM Building in Seoul's Yeouido district. The event marked the seventh anniversary of Economic Daily and was co-sponsored by Aju News Corporation,

June 25, 2025

PHOTOS: Korean War anniversary

SEOUL, June 25 (AJP) - June 25 marks the 75th anniversary of the Korean War, which erupted in 1950. The conflict inflicted profound damage and enduring trauma upon the Korean populace, and its legacies — including the division of the peninsula and the lingering aftereffects of the Cold War — continue to shape the region. Below, we present a collection of photographs from the commemorative events held around this solemn anniversary.

June 25, 2025

'Stablecoins emerge as global financial trend'

SEOUL, June 25 (AJP) - Stablecoins are no longer a passing fascination but a defining trend in global finance, Hana Securities said in a report Wednesday. The Seoul-based brokerage described the rise of stablecoins as a shift “from theme to trend,” signaling a structural change in how markets view these blockchain-based assets. The report pointed to a confluence of factors — regulatory reforms, growing institutional interest, and the possible issuance of won-bac

June 25, 2025

Shinsegae's Jung Yong-jin tapped to lead Asia arm of Trump-linked Rockbridge Network

SEOUL, June 25 (AJP) - Shinsegae Group Chairman Jung Yong-jin is expected to take the helm of Rockbridge Asia, a new regional branch of the Rockbridge Network -- a powerful conservative political organization closely tied to former United States President Donald Trump and several key figures in his potential second administration. Multiple sources in South Korea's business and investment banking circles confirmed on Wednesday that Jung has agreed to lead Rockbridge's Asia

June 25, 2025

North Korea holds mass rallies against US on Korean War anniversary

SEOUL, June 25 (AJP) - North Korea held a series of mass anti-United States rallies this week to mark the 75th anniversary of the outbreak of the Korean War, Pyongyang's state media reported on Wednesday. According to the official state-run Korean Central News Agency (KCNA), various unions organized rallies in Pyongyang and other regions on Tuesday and Wednesday. The events were part of what the North calls the “Day of Struggle Against U.S. Imperialism,” observed a

June 25, 2025

President Lee opens online platform to enhance communication with public

SEOUL, June 25 (AJP) - President Lee Jae-myung has opened an online platform on Tuesday to gather and reflect public opinion on state affairs. According to the Presidential Office, the platform is to collect public opinion and questions on a wide range of national issues, including the economy, welfare, society, politics, diplomacy, and security via Google Forms. All submitted questions will be reported to the president. The presidential office stated that Lee plans to respond

June 25, 2025

Hyundai E&C enters Finnish nuclear market, eyes more opportunities in northern Europe

SEOUL, June 25 (AJP) - Hyundai Engineering & Construction has taken a significant step into Northern Europe’s nuclear energy sector, signing a preliminary agreement to participate in a potential new nuclear power plant in Finland. The South Korean builder announced it had entered into an Early Works Agreement (EWA) on June 19 with Finland’s state-owned utility Fortum and Westinghouse Electric Company, the U.S.-based nuclear technology firm, in Helsinki. The agre

June 25, 2025

South Korea fails again in bid for MSCI Developed Market status

SEOUL, June 25 (AJP) - South Korea’s ambitions to join the ranks of the world’s developed financial markets faced another setback as MSCI declined once again to elevate the country from its emerging market classification. In its annual market classification review, the global index provider said South Korea would not be added to its watch list for a potential upgrade — effectively stalling any chance of reclassification until at least 2026. The decision also delays

June 25, 2025