Hyundai Motor's Ioniq 9 outperforms BMW iX, Volvo EX90 in German magazine's SUV review

SEOUL, December 12 (AJP) - Hyundai Motor’s flagship electric SUV, the Ioniq 9, has taken the top spot in a major German comparison of electric SUVs, outperforming competing models from BMW, Volvo and Polestar, the company said Friday. German automotive magazine Auto Zeitung evaluated the Ioniq 9 against the BMW iX, Volvo EX90 and Polestar 3, reviewing categories including body design, driving convenience, powertrain and dynamic performance. The publication highlighted t

December 12, 2025

Shinsegae chairman flies to US to attend dinner hosted by VP Vance

SEOUL, December 12 (AJP) - Shinsegae Group Chairman Chung Yong-jin departed for the United States on Friday to attend a Christmas dinner hosted by U.S. Vice President J.D. Vance at the vice president’s residence in Washington D.C. The event, scheduled for Friday evening, local time, is expected to draw prominent figures from U.S. political and business circles, as well as members of the Rockbridge Network, an American public policy and investment organization founded by Va

December 12, 2025

Hotel Shilla president's son admitted to Seoul National University

SEOUL, December 12 (AJP) - Hotel Shilla president Lee Boo-jin's eldest son has been accepted to Seoul National University. According to a list released by the prestigious university on Friday, his name, identified by his last name Im, appeared among the successful early-admission applicants to the university's Department of Economics for next year's academic year. Those admitted must register by next week. If he enrolls, he will follow in the footsteps of his uncle

December 12, 2025

OPINION: Won discount reflects structural weaknesses

The trauma of the 1997 financial crisis still casts a long shadow over South Korea. A rising dollar-won exchange rate evokes memories of a time when the rate surged to nearly 2,000 won per dollar and the foundations of the economy shook. Today’s rate—hovering around 1,470 won—is the highest since the 2009 global financial crisis, and its persistent climb has stirred fresh unease. Research by the Hyundai Research Institute shows that South Korea’s equilibrium excha

December 12, 2025

OPINION: Why Beijing cannot tolerate Tokyo's remark related to Taiwan Strait

Recent comments by Japanese leaders linking a Taiwan Strait contingency to Japan’s “survival crisis” have triggered a strong response from China. During recent conversations, many South Korean acquaintances asked why Beijing reacted so forcefully. China considers a firm response not only necessary, but also legitimate — and I hope this commentary clarifies Beijing’s position for Korean readers. First, Japan is interfering in China’s internal a

December 12, 2025

Kakao Healthcare steps up digital healthcare push with distribution deal with US firm

SEOUL, December 12 (AJP) - Kakao Healthcare said Friday it has signed an exclusive supply agreement with Dexcom, giving the South Korean digital health platform sole distribution rights for Dexcom's continuous glucose monitoring (CGM) products in South Korea. Dexcom is a U.S.-based medical technology company specializing in CGM systems for people with diabetes. Under the deal, the two companies will expand real-time blood glucose management services using Dexcom’s C

December 12, 2025

South Korean crypto fraudster sentenced to 15 years in prison

SEOUL, December 12 (AJP) - Crypto fraudster Kwon Do-hyeong, also known as Do Kwon, was sentenced to 15 years in prison on fraud charges by a U.S. federal court in New York on Thursday. The so-called "Cryptocrash King" was behind the spectacular collapse of the TerraUSD and Luna cyber that wiped out more than US$40 billion in losses to investors in the U.S. and around the world. "This was a fraud on an epic, generational scale. In the history of federal prosecutions

December 12, 2025

Hyundai Motor Group to supply 224 hydrogen buses to Guangzhou

SEOUL, December 12 (AJP) - Hyundai Motor Group said Friday that its Chinese fuel-cell unit, HTWO Guangzhou, has won a contract to supply hydrogen-powered city buses to Guangzhou State-owned Bus Group, marking the largest single hydrogen bus procurement project in China to date. Under the project, HTWO Guangzhou will supply 224 buses to the Guangzhou operator. Hyundai said the order represents a significant milestone in its efforts to expand its hydrogen mobility footprint in Chi

December 12, 2025

KakaoBank's collaboration with Indonesia's Superbank gains momentum with 'Lucky Card' rollout

SEOUL, December 12 (AJP) - KakaoBank is deepening its partnership with Indonesian digital lender Superbank, its first overseas equity investment, as the South Korean internet-only bank steps up efforts to expand abroad. KakaoBank said on Friday it advised Superbank on the launch of a new financial product, following a financial consulting agreement signed between the two companies in November last year. Under the deal, KakaoBank has been sharing its mobile banking expertise an

December 12, 2025

Subway workers in Seoul call off strike after last-minute agreement

SEOUL, December 12 (AJP) - Unionized subway workers in Seoul on Friday called off their planned full-scale strike after reaching a last-minute deal with management, averting major disruptions to the morning rush hour. Seoul Metro, which operates subway lines 1 through 8, said it reached an agreement early in the morning after overnight marathon negotiations. The workers had earlier threatened to strike from the first trains of the day unless their demands for higher wages, the

December 12, 2025