SK hynix poised for another record-breaking year on AI chip boom

SEOUL, January 24 (AJP) - SK hynix is forecast to extend its record-breaking performance into 2025, buoyed by surging demand for artificial intelligence-related semiconductors, analysts said Friday. The South Korean chip giant reported a 12 percent year-on-year increase in fourth-quarter revenue to 19.77 trillion won ($13.8 billion), with operating profit rising 15 percent to 8.08 trillion won, surpassing market expectations. For the full year, the firm's revenue doubled to 6

January 24, 2025

PHOTOS: Migration for Lunar New Year holiday begins

SEOUL, January 24 (AJP) - As the Lunar New Year holiday approaches, Koreans are on the move. Around 1.3 million people are expected to travel abroad through domestic airports over the ten days from Jan. 24 to Feb. 2. On average, 134,000 passengers are expected to depart each day, marking a 13.8 percent increase compared to last year's average of 117,000 passengers per day during the holiday season.

January 24, 2025

Kim Jong-un remains silent on Trump as North Korean parliament meets

North Korea's rubber-stamp Supreme People's Assembly is being held in Pyongyang on Jan. 23, 2025, in this photo released by the official Korean Central News Agency the following day. SEOUL, January 24 (AJP) - North Korea's rubber-stamp Supreme People's Assembly held a two-day parliamentary session this week without its leader Kim Jong-un in attendance, the country's state-run Korean Central News Agency (KCNA) reported on Friday. The gathering was apparentl

January 24, 2025

Trump's fossil fuel push draws mixed reactions from Korean refiners

SEOUL, January 24 (AJP) - South Korea’s oil refiners are cautiously exploring potential benefits from U.S. President Donald Trump’s aggressive fossil fuel agenda. Trump unveiled his push for fossil fuels after his inauguration on Jan. 20, declaring a national energy emergency and withdrawing the United States from the Paris climate accord. “We sit on the most oil and natural gas of any nation on earth, and we’re going to use it,” Trump said, signalin

January 24, 2025

Hong Sang-soo's latest film invited to Berlinale

SEOUL, January 24 (AJP) - Director Hong Sang-soo's latest film has been invited to compete at this year's Berlin International Film Festival, which opens next month. It marks the sixth consecutive year Hong has been invited to the festival since 2020, having taken home awards five times for his films including "A Traveler's Needs" (2024) and "The Woman Who Ran" (2020). Hong's 33th feature, "What Does That Nature Say to You," which wil

January 24, 2025

AI and health tech lead the trends at CES 2025

SEOUL, January 24 (AJP) - CES 2025, held in Las Vegas on January 7 (local time), opened with an electrifying atmosphere, drawing immense attention from attendees. Many keynote speeches were sold out early, and exhibition halls featuring major Korean companies like Samsung Electronics, SK, and LG Electronics were packed with visitors. LG Electronics' "World Premiere" event became even livelier with a surprise appearance by hip-hop star will.i.am. This year’s CES s

January 24, 2025

Legal battle looms over Korea Zinc management

SEOUL, January 24 (AJP) - A high-stakes legal battle is looming over the management of Korea Zinc after the company thwarted a hostile takeover attempt by restricting the voting rights of Young Poong at a shareholders’ meeting on Wednesday. The maneuver hinged on a technical article of Korea's commercial law, which nullifies voting rights when a subsidiary of one company owns more than 10 percent of another company that holds a stake in the parent firm. The restriction

January 24, 2025

India celebrates Republic Day in Seoul, highlighting growing ties with S. Korea

SEOUL, January 24 (AJP) - A warm glow lit up Sebit Island, an iconic venue on the Han River, as the Indian Embassy in the Republic of Korea hosted a grand celebration on January 23 to honor India’s Republic Day. The venue was adorned with tricolor decorations symbolizing the Indian flag, while the serene waters of the Han River reflected the festive lights. Guests from diverse backgrounds—foreign diplomats, business leaders, academics, and cultural figures—gather

January 24, 2025

Yoon rejects martial law allegations once again at hearing in impeachment trial

SEOUL, January 23 (AJP) - President Yoon Suk Yeol showed up for a hearing in his impeachment trial over his botched martial law debacle last month at the Constitutional Court of Korea in Seoul on Thursday. It was his second appearance after his previous attendance earlier this week. Yoon, who has been held in a solitary cell since his arrest last week on charges of insurrection and abuse of power over the debacle, met with former Defense Minister Kim Yong-hyun, who also appeared as

January 23, 2025

Hyundai Motor's net profit rises in 2024 on rising EVs demand

SEOUL, January 23 (AJP) - Hyundai Motor reported a 7.8 percent jump in net profit for 2024, fueled by growing global demand for electric vehicles (EVs) and hybrid EVs, according to a regulatory filing on Thursday. The company posted a net profit of 13.22 trillion won ($9.2 billion) last year, up from 12.27 trillion won in 2023. ​Despite the profit boost, operating income slipped 5.9 percent year-over-year to 14.23 trillion won, while sales soared 7.7 percent to a record 175.23 trill

January 23, 2025