Korean businesses cite finance, taxes, labor rules as major growth hurdles SEOUL, August 28 (AJP) - Despite government efforts to streamline regulations, South Korean companies continue to struggle with financing, tax burdens and labor rules, according to a new report. The Korea Chamber of Commerce and Industry (KCCI) said Thursday that nearly 71 percent of firms surveyed in the World Bank Enterprise Survey identified those three areas as their biggest obstacles. Limited access to finance was cited by 34 percent of companies, followed by taxation at 2 August 28, 2025

SK Telecom slapped record fine over data breach affecting 23 million users SEOUL, August 28 (AJP) - South Korea’s privacy watchdog has imposed a record fine on SK Telecom after a massive data breach that exposed the personal information of more than 23 million mobile subscribers. The Personal Information Protection Commission said on Thursday that it decided to levy a fine of 134.8 billion won, or about $97 million, on the country’s largest wireless carrier. The breach compromised sensitive information from all 23.2 million users of SK Tel August 28, 2025

Kim Jong-un to attend miliary parade in Beijing next week SEOUL, August 28 (AJP) - North Korean leader Kim Jong-un will visit Beijing next week to attend a military parade as part of China's "Victory Day" celebrations marking the 80th anniversary of the end of World War II, state media reported on Thursday. China's Foreign Ministry also unveiled on the same day the list of the event's attendees, which includes a score of heads of state and other leaders. Also among the invitees for the event scheduled for Sept. 3 a August 28, 2025

Bank of Korea holds key rate steady as housing market concerns continue SEOUL, August 28 (AJP) - The Bank of Korea left its benchmark interest rate unchanged at 2.5 percent on Thursday, pausing its easing cycle for a second month as policymakers weighed mounting risks from rising household debt. The central bank’s monetary policy committee said it would maintain the current rate while monitoring domestic and global conditions, citing persistent volatility in Seoul’s housing market and elevated borrowing levels. The decision follows four r August 28, 2025

[K-Pop] Rapper PSY under police investigation over alleged proxy receipt of prescription drugs SEOUL, August 28 (AJP) - South Korean rapper PSY, well known for his global hit song "Gangnam Style," is under police investigation on suspicion of violating medical laws by allegedly receiving prescription-only psychotropic drugs through a proxy, authorities confirmed Thursday. According to the Seodaemun Police Station in Seoul, the 47-year-old K-pop star and a university hospital professor are being investigated following a complaint that accused them of breaching me August 28, 2025

Probe into martial law debacle likely to hit snag as ex-PM avoids arrest SEOUL, August 28 (AJP) - Independent investigators probing disgraced former President Yoon Suk Yeol's martial law debacle are likely to face a setback in their inquiry after former Prime Minister Han Duck-soo avoided arrest on Wednesday. The Seoul Central District Court rejected a request for an arrest warrant for Han, citing that there is "room for legal dispute" over his alleged role in the debacle late last year, which eventually led to Yoon's ouster from office August 28, 2025

LG H&H weighs sale of beverage unit amid broader restructuring push SEOUL, August 28 (AJP) - LG Household & Health Care, South Korea’s leading consumer goods company, is weighing the sale of its beverage subsidiary Haitai HTB. The company has tapped Samjong KPMG as lead adviser to evaluate options for Haitai HTB, formerly Haitai Beverage, as part of a broader review of its drinks division. Haitai HTB, best known for its Sunkist and Cocopalm juices, generated 414 billion won ($301 million) in revenue and 3.6 billion won in operating prof August 28, 2025

OpenAI to launch Seoul office in September SEOUL, August 28 (AJP) - OpenAI, the San Francisco company behind ChatGPT, will open a branch office in Seoul next month, underscoring its push to cement a foothold in Asia’s artificial intelligence market. The new office, OpenAI Korea, will be located on Teheran-ro in Gangnam, Seoul’s financial and technology corridor. The company is scheduled to hold a press conference on Sept. 10 to mark the opening, according to industry officials. Jason Kwon, OpenAI’s chi August 28, 2025

Korea Zinc emerges as key player in global battle for critical minerals Editor's Note: This article is the 33rd installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, August 27 (AJP) - As Washington scrambles to secure supplies of critical minerals, a South Korean metals giant has emerged as an unlikely player in the great-power contest — and a target of boardroom intrigue at home. Korea Zinc, the world’s largest n August 28, 2025

PHOTOS: From darkness to light, Gwangmyeong Cave SEOUL, August 27 (AJP) - Standing at the entrance of Gwangmyeong Cave, the sweltering 35-degree summer heat gives way to a sudden chill of 12 degrees. The cool air feels like a natural air conditioner, yet it carries the weight of history. An information board reminds visitors that this was once the Siheung Mine, opened in 1912 during Japan’s colonial rule, when tunnels were dug to extract gold, silver, copper, and zinc. The very path now walked by tourists was once carved for August 27, 2025