Celltrion shares jump on deal to acquire Eli Lilly and fend off US tariff risks

SEOUL, September 23 (AJP) - South Korean biopharmaceutical company Celltrion's shares surged upon a major M&A deal in the United States, setting the contract-based drug maker better positioned against U.S. tariff exposure. The company said on Tuesday its U.S. operation signed a deal to acquire Eli Lilly's biopharmaceutical manufacturing facility in Branchburg, New Jersey for about 460 billion won ($330 million), with an aim to close the deal by the end of the year. Sh

September 23, 2025

PHOTOS: The present and future of the Korean Army at Gyeryongdae airstrip

SEOUL, September 23 (AJP) - From the moment visitors passed through the main gate of Gyeryongdae and walked toward the venue, there was a palpable sense of tension and anticipation. The chance to see up close the military equipment usually only seen on television quickened their steps. Upon entering the airstrip with the guidance of soldiers, the scale was overwhelming. Massive tanks stood proudly with their barrels pointed skyward, helicopters spread their rotor blades wide, and

September 23, 2025

Lotte exit from Ho Chi Minh property project exposes risks in Vietnam

SEOUL, September 23 (AJP) - South Korea’s Lotte Group has officially withdrawn from a large-scale property development in Ho Chi Minh City after completing documentation for its exit, according to regulatory filings. The company concluded that the Thu Thiem Eco Smart City project had become “financially unfeasible” as costs ballooned due to regulatory delays and surging land prices. The project, on a 74,513 m² site with a 50,000 m² development area in f

September 23, 2025

Homegrown multi-purpose satellite shipped to South America ahead of launch in November

SEOUL, September 23 (AJP) - A multi-purpose satellite, dubbed "Arirang 7," has been shipped to South America, the Korea AeroSpace Administration (KASA) said on Tuesday. The satellite, equipped with an ultra-high-resolution electro-optical camera, left the KASA in Daejeon on a freight aircraft bound for the Guiana Space Center in Kourou, French Guiana. The homegrown satellite, expected to arrive there on Thursday, is being transported in a specially designed, vibration

September 23, 2025

Kim Jong-un reaffirms closer ties with Xi Jinping in message through domestic newspaper

SEOUL, September 23 (AJP) - North Korean leader Kim Jong-un has reaffirmed his country’s commitment to strengthening ties with China, sending a reply letter to Chinese President Xi Jinping that was published on the front page of Rodong Sinmun on Tuesday. The letter was written in response to Xi’s earlier congratulatory message marking the 77th anniversary of North Korea’s founding. In the official English version of the message, provided by the Korean Central New

September 23, 2025

Seoul's AI initiative gains BlackRock support

SEOUL, September 23 (AJP) - South Korea is making strides in the race for artificial intelligence (AI) supremacy as it brings on U.S. funding to back its initiative to become the Asia-Pacific hub of the big data economy. Korea's Ministry of Science and ICT signed a memorandum of understanding with BlackRock on a global partnership in the AI industry on the sidelines of President Lee Jae Myung's meeting with BlackRock CEO Larry Fink in New York on Monday (local time). The

September 23, 2025

South Korea, Japan, and US reaffirm commitment to North Korea's denuclearization

SEOUL, September 23 (AJP) - The foreign ministers of South Korea, Japan, and the U.S. on Monday reiterated their commitment to the denuclearization of North Korea during a meeting on the sidelines of the UN General Assembly in New York, while stressing the importance of their trilateral alliance. South Korean Foreign Minister Cho Hyun met with U.S. Secretary of State Marco Rubio along with his Japanese counterpart Iwaya Takeshi. In a joint statement released later in the day, the

September 23, 2025

Bithumb partners with Trump-backed blockchain company

SEOUL, September 23 (AJP) - South Korea’s leading cryptocurrency exchange, Bithumb, has entered into a strategic partnership with World Liberty Financial, a blockchain finance company co-founded by Donald Trump Jr. and his brother Eric Trump. The agreement, announced Monday at Bithumb Financial Tower in Seoul, was formalized through a memorandum of understanding signed by Bithumb’s Chief Executive, Lee Jae-won, and Jack Forkman, a co-founder of World Liberty Financia

September 23, 2025

Turkish President Erdoğan urges global recognition of Palestine

SEOUL, September 23 (AJP) - Türkiye's President Recep Tayyip Erdoğan said Tuesday the Palestinian cause has become "a global issue," pointing to growing recognition of Palestine and widespread public support. Speaking at the High-Level International Conference for the Peaceful Settlement of the Question of Palestine and the Implementation of the Two-State Solution in New York, he said, "In Europe, in Asia, in the Americas, in Africa, we are witnessing peopl

September 23, 2025

PHOTOS: Seoul's public transportation on river

SEOUL, September 23 (AJP) - Seoul's newest water transportation service, the Hangang Bus, officially began operations on Sept. 18. This new public transit option is expected to become a significant attraction for both tourists and locals, offering a unique way to experience the city. The Hangang Bus navigates a 28.9-kilometer route, connecting seven key piers along the river: Magok, Mangwon, Yeouido, Apgujeong, Oksu, Ttukseom, and Jamsil. The full journey from the Magok pie

September 23, 2025