Buying home in Seoul would take 86 years for young people

SEOUL, June 4 (AJU PRESS) - People in their 20s would need to save for an average of 86 years to buy their own home in Seoul, a survey reveals. According to the survey conducted by the Korean Confederation of Trade Unions, the average annual income of households under 29 was 41.23 million won ($29,981) last year, but deducting essential living costs and taxes, their savable income dropped to 13.89 million. With the average sales price of apartments in Seoul at about 1.2 billion

June 4, 2024

Analysts urge caution after announcement of possible oil, gas reserve

SEOUL, June 4 (AJU PRESS) – Analysts urged investors to be cautious after the government approved oil and natural gas exploration in the southern industrial city of Pohang, expecting that up to $1.4 trillion worth of resources could be buried. During a briefing on Monday, President Yoon Suk Yeol said up to 14 billion barrels of oil and gas are expected to be stored in the waters off Yeongil Bay in Pohang. Citing a geophysical study conducted by U.S. geoscience consulting fir

June 4, 2024

UAE Embassy in Seoul offers AI-assisted consular service

SEOUL, June 4 (AJU PRESS) - The United Arab Emirates Embassy in Seoul has embraced artificial intelligence (AI) for visa issuance and other consular services, becoming the world's first embassy to do so. The embassy said last week that the AI-assisted services using facial recognition and hologram technologies will allow UAE nationals or other applicants to easily apply for visas and submit required documents through an AI-powered platform. The services are part of the UAE

June 4, 2024

About 30% of late middle-aged Koreans fear lonely deaths, survey reveals

SEOUL, June 3 (AJU PRESS) - One in three people born in the 1960s have a fear of dying alone, a recent survey reveals. According to the survey of 980 people in their late middle age, conducted by the Care for All Foundation last month and released on Monday, 30.2 percent harbored a gloomy outlook that they would "die alone." The likelihood of holding this pessimistic view was higher among those with lower incomes. A "lonely death" refers to the situation where

June 3, 2024

Tens of thousands of people gather to celebrate gender equality at Seoul Queer Festival

SEOUL, June 01 (AJU PRESS) - Tens of thousands of people gathered in central Seoul on Saturday to participate in this year's "Seoul Queer Festival," an annual event designed to celebrate gender diversity and promote equal rights for everyone. According to the festival's organizing committee, a total of some 150,000 people participated in the LGBTQ+ event. This is the second time the festival was held near Euljiro 1-ga Station, about 500 meters (0.3 miles) from Seou

June 1, 2024

Korea, Viet Nam agree to deepen cooperation in first foreign ministers' talks

SEOUL, May 31 (AJU PRESS) - Foreign Minister Cho Tae-yul met with his Vietnamese counterpart Bui Thanh Son in Seoul on Friday to discuss ways to deepen bilateral cooperation. The meeting marked the first formal ministerial-level discussions between the two countries, following an agreement reached during President Yoon Suk Yeol's state visit to the Southeast Asian country in June last year. Their talks took place six months after the two countries agreed to elevate the bilater

May 31, 2024

Southeast Asia leaning toward China as US-China rivalry intensifies

SEOUL, May 31 (AJU PRESS) - More than half of Southeast Asians now favor China over the U.S. if they had to choose between the two countries, a recent survey revealed. Their preference for China has increased by over 20 percentage points compared to a year ago, while their favorable view toward the U.S. has declined by more than 11 percentage points. It is the first time China has surpassed the U.S. in terms of preference since the annual survey began in 2020, reflecting Beijing'

May 31, 2024

Korea, India hold dialogue to discuss bilateral cyber cooperation

SEOUL, May 30 (AJU PRESS) - Korea and India held a dialogue to enhance their bilateral cooperation in cybersecurity, focusing on developing standards and improving work capabilities, the Indian Embassy to Korea said on Wednesday. The India-Republic of Korea Cyber Dialogue, now in its second year, took place on Tuesday in Seoul. Key participants included Amit A. Shukla, Joint Secretary of the Cyber Security Division at the Indian Ministry of External Affairs, and Rhee Dong-Yeol, Am

May 30, 2024

SK chief ordered to pay 1.38 trillion won to ex-wife

SEOUL, May 30 (AJU PRESS) - An appellate court on Thursday ordered SK Group chairman Chey Tae-won to give his ex-wife Roh Soh-yeong 1.38 trillion won in property division plus 2 billion won in alimony. The Seoul High Court overturned the initial ruling, siding with Roh and deemed the previous settlement decided by the lower court to be insufficient. In the first trial in December 2022, Roh sought 50 percent of Chey's shares in SK Holdings, the conglomerate's parent comp

May 30, 2024

New Zealand cleantech startups hold investor blitz in Seoul

SEOUL, May 30 (AJU PRESS) - About a dozen New Zealand startups participated in an event to promote clean technologies and ecofriendly businesses held in central Seoul on Thursday. The event, under the name of "New Zealand ESG Business Demo Day," was hosted by the Asia New Zealand Foundation and New Zealand Trade and Enterprise (NZTE). It aimed to create opportunities for New Zealand companies in the field of ESG to make inroads into the Korean market and establish networ

May 30, 2024