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Police raid Starbucks Korea over 'Tank Day' flop
SEOUL, August 05 (AJP) - Nearly three months after Starbucks Korea's "Tank Day" promotion ignited a national backlash, the controversy continues to haunt the coffee chain and its owner Shinsegae Group, as South Korean police on Wednesday raided the company.
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Samsung and SK hynix CEOs face criminal complains over bonus
SEOUL, August 05 (AJP) -The chief executives of South Korea's two dominant memory chipmakers are facing criminal complaints after a shareholder activist group accused them of breaching their fiduciary duties by agreeing to AI-era performance bonus.
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Lee commands Seoul to continue Pyongyang outreach
SEOUL, August 05 (AJP) - South Korea will keep pursuing peaceful coexistence with North Korea even if Pyongyang refuses to respond, President Lee Jae Myung said Wednesday, likening the government's engagement efforts to "shouting with no echo."
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Bad loans at Korea's top banks hit 7-year high
SEOUL, August 05 (AJP) -South Korea's five largest banks saw bad loans climb to a seven-year high in the second quarter, driven overwhelmingly by deteriorating corporate credit quality as stress spread across lenders' balance sheets. Loans classified as "estimated loss."
Korean won emerges as winner in U.S. "prosper-thy-neighbor" yen defense
SEOUL, August 05 (AJP) - Currency intervention has long been viewed as a classic beggar-thy-neighbor policy, with governments weakening their currencies at the expense of trading partners. The latest U.S.-Japan operation appears to be doing the opposite, giving the South Korean won an unexpected tailwind alongside the yen. That raises an obvious question: Has Washington suddenly become more generous? Why would an administration that has championed "America First" intervene in a way th
by Kim Yeon-jae
Cheap currencies bring two neighbors closer than ever
SEOUL, August 04 (AJP) - Cheap currencies, short flights and a growing fascination with each other's culture are bringing South Koreans and Japanese closer than at any time in decades, quietly reshaping one of Asia's most complicated relationships one weekend trip at a time. For 23-year-old South Korean college student Kim Yi-hyun, the favorite destination over the past year has been Japan. "As a student, I don't have much money," Kim said. "Japan is close, affordab
Korea's battery makers find ESS gold rush at home
SEOUL, August 05 (AJP) - In a high-profile display, South Korean President Lee Jae Myung, flanked by chip titans Lee Jae-yong of Samsung Electronics and Chey Tae-won of SK Group, unveiled a nearly $1 trillion vision to transform the country from the world's high-tech factory into an AI factory. That ambition extends far beyond semiconductors. Every AI factory — from chip fabrication plants and advanced packaging facilities to hyperscale data centers and AI inference clusters — r
Odds of Korea's back-to-back rate hike fall on softer headline inflation
SEOUL, Aug. 4 (AJP) — The surprising stall in South Korea's inflationary run in July has lowered expectations for a back-to-back interest-rate increase by the Bank of Korea this month, although policymakers remain wary of persistent underlying price pressures. Consumer prices rose 2.8 percent from a year earlier in July, slowing from 3.2 percent in June and falling below the 3 percent mark for the first time in three months. Core inflation, which Bank of Korea Gov. Shin Hyun-song has
Seoul aims to make public education free from age 3 to university
South Korean investors turn cautious after leveraged ETF frenzy
Today's Photo
Seoul's heatwave sparks highest alert
Today's Photo
Gwangnaru pool offers respite from heat
