Korean government signals potential abandonment of 'Blue Whale' offshore gas project

SEOUL, February 6 (AJP) - South Korea may scrap development of an offshore gas field in the East Sea after preliminary drilling results showed little economic promise, the Ministry of Trade, Industry and Energy said Thursday. A 47-day drilling operation at the “Blue Whale” site, which concluded on Feb. 4, failed to yield sufficient hydrocarbons to justify commercial production, the ministry said. “While reservoir and cap rock thickness, along with porosity level

February 6, 2025

Former special ops commander testifies Yoon ordered arrest of lawmakers

SEOUL, February 6 (AJP) - Another witness involved in President Yoon Suk Yeol's botched Dec. 3 martial law debacle last December testified on Thursday that Yoon had ordered him to arrest lawmakers from the National Assembly on that fateful night. Former Army Special Warfare Command (SWC) commander Kwak Jong-geun made the statement during a hearing for Yoon's impeachment trial at the Constitutional Court of Korea in Seoul. When asked whether the lawmakers were the targets of

February 6, 2025

Rampant human rights violations continue in North Korea, fresh report reveals

SEOUL, February 6 (AJP) - Despite international pressure and condemnation, human rights violations remain rampant in North Korea, a recent UN report reveals. Based on testimonies from 175 North Korean defectors between November 2022 and October 2024, the Office of the UN High Commissioner for Human Rights (OHCHR) disclosed its findings on Wednesday, ahead of the upcoming UN session in Geneva later this month. More than half of them said that they had suffered various forms

February 6, 2025

Korean SMEs to showcase products at Atlanta business convention

SEOUL, February 06 (AJP) - The Korea Federation of Small and Medium Business (KBIZ) will sponsor 30 small and mid-sized enterprises to exhibit their products at the 23rd World Korean Business Convention, set to take place in Atlanta, Georgia, from April 17 to 20. The annual convention, which will be held at the Gas South Convention Center, serves as a global networking platform designed to connect Korean businesses with international buyers and expand their presence in overseas ma

February 6, 2025

South Korea aims to replicate success at Winter Asian Games in Harbin

SEOUL, February 6 (AJP) - The Winter Asian Games are set to kick off with an opening ceremony in Harbin, China on Friday. About 150 South Korean athletes along with 70 sports officials and staff already left the country on Tuesday. They will compete in six disciplines: biathlon, curling, ice hockey, ice skating (figure skating, short track and speed skating), skiing (alpine, cross-country, freestyle and snowboarding), and ski mountaineering. Originally slated for 2021, the Game

February 6, 2025

LG to develop AI-based protein structure prediction tool

SEOUL, February 06 (AJP) - LG AI Research signed a joint research agreement with Professor Baek Min-kyung of Seoul National University to develop next-generation protein structure prediction AI technology, the company said Thursday at LG Science Park in Seoul. The collaboration aims to tackle the challenge of predicting multi-state protein structures that exist in various states within the human body depending on environmental and chemical changes. Professor Baek previously worked

February 6, 2025

Samyang Foods posts record profit on global 'Buldak' sales

SEOUL, February 06 (AJP) - Samyang Foods reported a 133 percent surge in operating profit to 344.2 billion won ($258.2 million) for 2024, driven by strong overseas sales of its "Buldak" spicy instant noodles, the company said Thursday. Annual revenue rose 45 percent to 1.73 trillion won, while net profit increased 115 percent to 272.3 billion won. The company's operating profit exceeded 300 billion won for the first time, boosted by higher-margin overseas sales. T

February 6, 2025

PHOTOS: Graduates in South Korea embrace new beginnings

SEOUL, February 6 (AJP) - Graduates of all ages are bidding farewell to their schools in South Korea, experiencing a mix of nostalgia and excitement as they prepare for a new chapter.

February 6, 2025

South Koreans turn to global stocks as domestic markets stumble

SEOUL, February 6 (AJP) - South Korean individual investors shifted their focus from domestic to overseas stock markets in 2024, with foreign stock trading volume surging 39 percent while domestic trading plummeted 13 percent, according to data from nine major brokerages released Thursday. The exodus from domestic equities continued as trading volume on Korean exchanges dropped to 635.25 billion shares in 2024, down from 730.38 billion shares the previous year, the data showed. T

February 6, 2025

INTERVIEW: Turkish envoy highlights robust ties with Seoul, seeks further cooperation

SEOUL, February 6 (AJP) - Trade between South Korea and Türkiye remained robust, even at the height of the global disruptions and challenges caused by the coronavirus pandemic, reflecting their strong bilateral relations. Currently, trade volume between the two countries stands at approximately US$11 billion, with Türkiye exporting goods worth US$886 million to South Korea and importing $5.65 billion. "Unlike the global decline in trade volume, exchanges between th

February 6, 2025