Appellate court upholds acquittal of Samsung chief in merger and fraud case

SEOUL, February 3 (AJP) - An appellate court in Seoul on Monday ruled in favor of Samsung Electronics Chairman Lee Jae-yong, clearing him of charges of breach of trust, accounting fraud, and other financial irregularities. The court found him not guilty of accounting fraud, stock price manipulation, and other allegations related to a complex scheme to pass control of the sprawling conglomerate to him through the 2015 merger of two Samsung affiliates. The Seoul High Court upheld a pr

February 3, 2025

Hyundai Motor Group may restructure US operations amid tariff fallout

SEOUL, February 3 (AJP) - Hyundai Motor Group is considering reorganizing its North American operations after the Trump administration imposed a 25 percent tariff on imports from Canada and Mexico, throwing a wrench into the automaker’s supply chain. The South Korean firm is now exploring ways to shift portions of its Mexican production to the United States in response to new trade barriers that also include a 10 percent tariff on Chinese imports and the possibility of duties

February 3, 2025

OPINION: Kazah President Tokayev's vision charts new path for enhanced ties with Korea

SEOUL, February 3 (AJP) - On Jan. 28, 2025, Kazakhstan President Kassym-Jomart Tokayev chaired the extended government meeting, where he outlined key national priorities aimed at accelerating Kazakhstan’s economic development, fostering global partnerships, and advancing technological innovation. His strategic vision presents numerous opportuniti

February 3, 2025

Netflix adaptation of South Korean web cartoon becomes global hit

SEOUL, February 3 (AJP) - Netflix's South Korean medical drama "The Trauma Code: Heroes on Call" is gaining widespread popularity across the world. Released in time for the Lunar New Year holiday late last month, the eight-episode series ranked No. 2 worldwide among TV shows as of last week, according to FlixPatrol, which tracks global streaming rankings. It has also taken the top spot in 19 countries including Bangladesh, Bolivia, Chile, Ecuador, Honduras, Hong K

February 3, 2025

Samsung to supply enhanced HBM3E memory chips in first quarter

SEOUL, February 03 (AJP) - Samsung Electronics will begin supplying improved versions of its HBM3E products to major customers by the end of the first quarter 2025, with volume production ramping up in the second quarter. The company reported last week that its fourth-quarter 2024 HBM sales grew 1.9 times compared to the previous quarter, slightly below initial projections due to geopolitical issues and preparation for the enhanced HBM3E launch. "We expanded HBM3E supply t

February 3, 2025

Trump's tariff war nerves Korean firms operating in Vietnam

SEOUL, February 3 (AJP) - South Korean companies with operations in Vietnam and Guatemala are growing increasingly uneasy as U.S. President Donald Trump signals the possibility of expanding tariffs beyond Mexico and Canada. Vietnam, which emerged as a key beneficiary of U.S.-China trade tensions, is particularly vulnerable. Trump has repeatedly voiced frustration over the country’s growing trade surplus with the United States, a concern that could now put Vietnam in Washington

February 3, 2025

Rosé's latest hit song racks up 1 billion views on YouTube, becoming fastest to reach milestone

SEOUL, February 3 (AJP) - The music video for Rosé's latest hit song "APT." has garnered over one billion views on YouTube as of the end of last month. According to her agency last week, the catchy song, by the member of the girl group BLACKPINK, reached the milestone on Jan. 31, about three months after its release in October last year, becoming the fastest K-pop music video to do so and the fifth fastest among all music videos worldwide. Her latest feat bro

February 3, 2025

Naver set to join 10 trillion won revenue club

SEOUL, February 03 (AJP) - South Korean online platform Naver is poised to surpass 10 trillion won ($7.5 billion) in annual revenue for 2024, marking a milestone achieved just six years after reaching 5 trillion won ($3.75 billion) in 2018. The firm is expected to report revenue of 10.65 trillion won ($8 billion) for 2024, up 10.15 percent year-on-year, according to market forecasts. This makes Naver the eighth company in South Korea to reach the 10 trillion won revenue mark withi

February 3, 2025

SK chief to visit Washington to attend forum

SEOUL, February 3 (AJP) - SK Group Chairman Chey Tae-won will make his first visit to the U.S. since Donald Trump began his second presidential term, aiming to discuss global economic solutions with influential figures in international politics and business. Chey, who also heads the Korea Chamber of Commerce and Industry (KCCI), will attend the Trans-Pacific Dialogue (TPD) in Washington D.C. from Feb. 21 to 22. The TPD, hosted by the Chey Institute for Advanced Studies where the

February 3, 2025

[PHOTOS] Korea celebrates 'Ipchun,' the beginning of spring

SEOUL, February 03 (AJP) - Today marks Ipchun (입춘), the first of the 24 solar divisions of the year. Ipchun symbolizes the start of spring. On this day, it is a tradition to post phrases such as "Ipchun Daegil" (great fortune as spring begins) and "Geonyang Dagyeong" (many blessings with the rise of positive energy) on front doors or pillars of homes. In Korea's agrarian past, Ipchun was a vital period, signaling the beginning of preparations for the farming seaso

February 3, 2025