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  South Korea's Booyoung Group pays 3.6 billion won in birth incentives in 2025 SEOUL, February 05 (AJP) - South Korea's Booyoung Group paid 3.6 billion won ($2.46 million) in birth incentives last year to employees who had children, as part of a program offering 100 million won for each newborn. The company said payments were made for 36 children born to employees last year. Total payouts rose about 29 percent from 2.8 billion won a year earlier. Booyoung said that cases involving multiple births have increased since the program began in 2024. February 5, 2026
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  Police seek arrest warrant for ex-DP lawmaker SEOUL, February 5 (AJP) - Police on Thursday filed arrest warrants for Kang Sun-woo, a former lawmaker of the ruling Democratic Party (DP), and Kim Kyung, a former Seoul city official, over alleged bribery and breach of trust. The move comes about a month after the Seoul Metropolitan Police Agency launched their investigation into the case. Kang is accused of receiving 100 million Korean won (US$68,500) from Kim in return for the DP's candidate nominations for the 2022 loca February 5, 2026
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  Korean president hints at conscription overhaul in line with demographic changes SEOUL, February 05 (AJP)-South Korean President Lee Jae Myung on Thursday hinted at enabling non-conscription options for science talent as part of an overhaul of South Korea's military service system, citing demographic decline and brain drain caused by two to three years of interruption in studies and research. Speaking at a dialogue with young scientists at the presidential office, Lee acknowledged that mandatory service creates unavoidable career gaps for young men and has b February 5, 2026
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  Overseas outlets of Korean dining brands jump 25 percent in 5 years SEOUL, February 05 (AJP) - South Korean dining brands have increased their overseas store count by nearly 25 percent over the past five years, a government survey showed on Thursday. According to the survey, released by the Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries & Food Trade Corp. (aT), Korean dining companies operated 4,644 stores across 56 countries last year, up from 3,722 outlets in 48 countries in 2020. Over the same period, the February 5, 2026
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  Samsung's Lee Jae-yong heads to Winter Olympics for global business meetings SEOUL, February 05 (AJP) - Samsung Electronics Chairman Lee Jae-yong has traveled to Italy to attend the 2026 Milan-Cortina Winter Olympics, where he is expected to combine Olympic engagements with meetings aimed at strengthening global business ties. Lee departed for Milan on Thursday, marking his first visit to an Olympic Games since attending the Paris Summer Olympics in 2024. Lee is expected to attend the opening ceremony and hold meetings with political and business le February 5, 2026
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  K-Heritage Foundation, Aju Media join hands for K-heritage 5.0 era SEOUL, February 05 (AJP) -The K-Heritage Foundation and Aju Media Group have joined hands to promote the digital preservation and global dissemination of Korea’s national heritage. The K-Heritage Foundation led by President Park Dong-seok, and Aju Media Group headed by President Lee Kwu-jin, signed a comprehensive memorandum of understanding (MoU) on Thursday to cooperate on the digital conservation, video production and international promotion of traditional Korean heritage. February 5, 2026
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  FM meets US energy chief to discuss nuclear cooperation SEOUL, February 5 (AJP) - Foreign Minister Cho Hyun met with U.S. Secretary of Energy Chris Wright on the sidelines of a U.S.-led ministerial meeting on critical minerals in Washington, D.C. on Wednesday. According to the Ministry of Foreign Affairs here, the two sides reaffirmed their commitment to the speedy implementation of a tariff-related bilateral agreement reached in October last year. The agreement includes Seoul's pledge to invest $350 billion in the U.S. as part February 5, 2026
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  Software tantrums shake Asian markets; Korean shares lose nearly 3% SEOUL, February 05 (AJP) - Asian stocks tracked Wall Street lower early Thursday, as fears over disruption in the software industry from rapid advances in artificial intelligence triggered broad selling. The Nasdaq suffered its worst two-day rout since last April’s “tariff tantrums,” as investors retreated from software stocks following the release of a suite of industry-specific AI tools, including systems capable of reviewing legal contracts developed by Anthro February 5, 2026
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  Marco Landi says AI will expand cinematic creativity as festival moves to South Korea SEOUL, February 05 (AJP) - Marco Landi, the former president of Apple and a leading figure in the global artificial intelligence sector, says the technology should be viewed as a tool for augmented imagination rather than a threat to human creativity. Landi, who currently serves as the president of Institut EuropIA and founded the World AI Film Festival (WAIFF), shared his vision for the future of cinema and technology during a recent interview. His remarks come as the festival pr February 5, 2026
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  Celltrion posts record profit as new biosimilars drive sales growth SEOUL, February 05 (AJP) - South Korean biopharmaceutical company Celltrion reported record annual earnings on Thursday as strong sales of newer, higher-margin biosimilars lifted both revenue and profitability. In a regulatory filing, the firm said consolidated revenue for 2025 rose 17 percent from a year earlier to 4.16 trillion won, while operating profit jumped 137.5 percent to 1.17trillion won. It marked the first time Celltrion surpassed both 4 trillion won in annual revenue February 5, 2026