Homeplus sale stalls as main auction draws no bidders SEOUL, November 27 (AJP) - The planned sale of Homeplus has stalled after the main auction attracted no bidders, deepening uncertainty over the future of the South Korean hypermarket chain. Two companies had taken part in the preliminary bidding but both withdrew ahead of the final auction. The main auction closed at 3 p.m. on Wednesday with no proposals submitted. Sources from Homeplus said on Thursday it will continue to accept offers until Dec. 29, the deadline for filing November 27, 2025

Delinquencies on Korea's mom-and-pop business loans hit highest level since 2015 SEOUL, November 27 (AJP) - Delinquencies on loans to South Korea’s mom-and-pop businesses rose to their highest level in more than nine years in the third quarter, even as the banking sector’s overall nonperforming loan (NPL) ratio edged down, the Financial Supervisory Service (FSS) said on Thursday. The NPL rate for personal business loans climbed 0.02 percentage points from the previous quarter to 0.61 percent, the highest since June 2015. The FSS attributed the November 27, 2025

North Korea highlights need for nuclear submarines North Korea's Korean Central News Agency criticized the recent U.S.-South Korea joint statement, claiming it reveals a hostile stance and could destabilize military security in the Asia-Pacific region. The agency argued that South Korea's pursuit of nuclear submarines could lead to a 'nuclear domino effect' and escalate an arms race. This response followed the joint fact sheet released on Nov. 14. North Korea's reaction is perplexing, given its own nuclear d November 27, 2025

South Korea ushers in private-led space era with 4th Nuri launch GOHEUNG, South Korea, November 27 (AJP) - South Korea opened a new chapter in its space program Thursday with the successful fourth launch of the homegrown Nuri rocket — the first assembled by Hanwha Aerospace — marking a decisive shift toward a private sector–driven space industry. The 200-ton, three-stage rocket lifted off from the Naro Space Center at 1:13 a.m. and entered a sun-synchronous orbit 600 kilometers above Earth, deploying a next-generation medium November 27, 2025

Korean Inc.'s USD hoarding is inevitable as U.S. trade and FDI footprints deepen SEOUL, November 26 (AJP) - South Korea’s finance minister signaled the government had even asked major exporters for help in propping up the won — a reversal of the usual dynamic that underscores the urgency on the FX front. But expectations for meaningful action remain low, as companies tied to massive U.S. investment commitments have little incentive to part with their dollar reserves. The won’s annual average has already exceeded 1,400 per dollar this year, su November 26, 2025

PHOTOS: Korea Grand Sourcing Fair opens in Seoul, draws global buyers SEOUL, November 26 (AJP) — South Korea’s trade agency is hosting a large-scale sourcing fair in Seoul this week to boost global opportunities for K-beauty and K-food exporters. The Korea International Trade Association (KITA) opened the 2025 Korea Grand Sourcing Fair (KGSF 2025) on Tuesday at COEX, bringing together promising Korean exporters and major global buyers. First launched in 2009, the annual event has become a key platform for connecting domestic suppliers November 26, 2025

Asian shares rise on AI tailwind; Chinese markets mostly flat SEOUL, November 26 (AJP) - Asian shares closed broadly higher Wednesday, lifted by renewed optimism over artificial intelligence following the debut of Google’s “Gemini 3.0” model. While sector performance varied across the region, sentiment improved as investors increasingly dismissed the notion of an AI bubble. The benchmark KOSPI climbed 2.67 percent to 3,960.87. Easing anxiety over the AI sector and direct market intervention by foreign exchange authorities s November 26, 2025

Koreans spend more time on ChatGPT than on Naver, making Korea OpenAI's No. 2 market SEOUL, November 26 (AJP) - South Koreans have emerged as the world's most avid ChatGPT users, spending more time on the AI platform than on the country's dominant portal Naver, and pushing Korea to become OpenAI's second-most profitable market despite its small population, data showed. According to app analytics firm Sensor Tower, Korea ranked No. 2 after the United States in ChatGPT revenue contribution. Global downloads of the ChatGPT app have surpassed 1.4 billio November 26, 2025

Investigation underway after Eastar Jet's passenger flight lands with cargo door open SEOUL, November 26 (AJP) - An Eastar Jet passenger plane landed at Jeju International Airport with its cargo door partially open earlier this week, the budget carrier revealed on Wednesday, days after the incident. The incident occurred last Monday when a flight carrying 177 passengers from Gimpo touched down with the door ajar, prompting an investigation by the Ministry of Land, Infrastructure and Transport. With no injuries reported, the aircraft's pressurization system r November 26, 2025

Koreans donated gold during IMF crisis — but their love for "foreign" won't rescue the won this time SEOUL, November 26 (AJP) - Korean authorities are pleading for all-around help — from the "big-brother" National Pension Service (NPS) to brokerages and exporters — to mobilize every possible tool to defend the Korean won drifting toward the untouched 1,500-won ($1.02) watershed. But they cannot expect sympathy, much less sacrifice, from ordinary Koreans, whose enduring appetite for overseas spending — on goods, travel, and securities — remains un November 26, 2025