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

Chief of broadcasting watchdog reinstated after court rejects impeachment

SEOUL, January 23 (AJP) - Lee Jin-sook, chairperson of the Korea Communications Commission (KCC), has been reinstated to her position following a court ruling overturning her impeachment over a controversial decision-making process at the broadcasting watchdog. The Constitutional Court of Korea on Thursday failed to reach a majority of six votes, with four of its eight judges voting for her impeachment and the other four voting against, clearing the way for Lee's return to work.

January 23, 2025

Two Korean Americans appointed to key positions under new Trump administration

SEOUL, January 23 (AJP) - Two Korean Americans will take key roles under the new U.S. administration following the inauguration of Donald Trump earlier this week. The Pentagon said on Tuesday John Noh has been named deputy assistant defense secretary for East Asia in the U.S. Department of Defense. Noh will oversee policies related to South Korea, Japan, and other regional allies. His responsibilities include developing security and defense strategies for East Asia, strengthening bi

January 23, 2025

South Korean FM, new US Secretary of State reaffirm alliance in first phone conversation

SEOUL, January 23 (AJP) - Foreign Minister Cho Tae-yul spoke with newly appointed U.S. Secretary of State Marco Rubio for the first time over the phone on Thursday. According to the Ministry of Foreign Affairs here, the two discussed various issues including the bilateral alliance between South Korea and the U.S, as well as trilateral cooperation with Japan. Cho expressed hopes for the continued strong alliance with Washington under the new U.S. administration, following

January 23, 2025

Korea's Charm Vit Group to develop $550-million leisure complex in Hanoi

SEOUL, January 23 (AJP) - South Korea’s Charm Vit Group is making a significant bet on Vietnam’s entertainment sector with plans to build a $550 million horse racing and leisure complex on the outskirts of Hanoi. Chairman Lee Ho-woong, grandson of the late founder Lee Dae-bong, met with Vietnam’s Deputy Prime Minister Ho Duc Phoc on Jan. 10 to finalize details of the ambitious project. During the meeting, Ho pledged government support, emphasizing his commitment to

January 23, 2025

PHOTOS : 100 must-see Korean tourist destinations

SEOUL, January 23 (AJP) - A selection of "2025–2026 Korea Tourism 100", which highlights Korea's representative tourist attractions, was announced Monday by the Ministry of Culture, Sports and Tourism, in collaboration with the Korea Tourism Organization. The "Korea Tourism 100" project is now in its 7th year. It selects and promotes the must-visit destinations in Korea for both domestic citizens and international tourists every two years.

January 23, 2025

Prosecutors take over investigation into Yoon's martial law debacle

SEOUL, January 23 (AJP) - Investigators from the Corruption Investigation Office for High-ranking Officials (CIO) have handed over the case involving President Yoon Suk Yeol's martial law debacle last month to prosecutors. The CIO, which is not entitled to prosecute a suspect, said on Thursday that it decided to refer the case to prosecutors. After several failed attempts to question Yoon over charges of insurrection and abuse of power, due to his continued refusal to coopera

January 23, 2025

Hwaseong Fortress: A UNESCO World Heritage Site in Suwon

SEOUL, January 23 (AJP) - Nestled in the city of Suwon, just south of Seoul, Hwaseong Fortress is a stunning reminder of Korea’s rich history. Built during the reign of King Jeongjo of the Joseon Dynasty between 1794 and 1796, this impressive fortress was inscribed as a UNESCO World Heritage Site in 1997. The fortress spans 5.7 kilometers and features four grand gates, intricate defensive structures, and architectural marvels that combine strength with beauty. A leisurely

January 23, 2025

SK hynix emerges as powerhouse as AI redefines semiconductor landscape

Editor's Note: This article is the fourth installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, January 22 (AJP) - In a pivotal moment for the global semiconductor industry, NVIDIA CEO Jensen Huang has lauded SK hynix's cutting-edge high-bandwidth memory (HBM) technology as surpassing even NVIDIA's rigorous requirements. This endorsement, shared

January 23, 2025

INTERVIEW: Purpose-driven innovation is key for K-startups in global market

SEOUL, January 23 (AJP) - Joo Young-sup, a professor at Seoul National University's Graduate School of Technology Management and former Administrator of the Small and Medium Business Administration (SMBA), shared his insights on the global technology landscape following CES (Consumer Electronics Show) 2025 in an interview with Aju Press (AJP). Reflecting on the annual tech show held earlier this month in Las Vegas, Joo highlighted the growing emphasis on purpose-driven innovat

January 23, 2025