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Seoul seeks to raise free subway age to 70
SEOUL, June 24 (AJP) - South Korea's capital is moving to overhaul one of its longest-standing welfare benefits for older citizens, proposing to raise the eligibility age for free subway rides from 65 to 70 as the country grapples with the realities of a superaged society.
Renewables ride the AI power boom, but the grid can't keep up
SEOUL, June 24 (AJP) - Renewables are being fully employed to feed the world's hungry AI data centers as farming Mother Nature is cheap and quick to build. Yet a widening gap between green ambition and grid reality — from Beijing to Naju — is exposing the limits of an energy transition running at full tilt. Global electricity demand from data centers is set to roughly double to about 945 terawatt-hours by 2030 and reach around 1,200 TWh by 2035, the International Energy Agency s
by Kim Dong-young
Korea's new obsession: borrowing to buy stocks, not homes
SEOUL, June 23 (AJP) - South Korea's stock craze has reached a point where borrowing to buy shares is becoming more socially acceptable than borrowing to buy an apartment. The shift reflects a profound change in a country long defined by its obsession with real estate, as millions of Koreans pour into a handful of AI-related stocks in pursuit of rapid wealth creation. Tuesday's selloff offered a reminder of how fragile that enthusiasm can be. The benchmark KOSPI crashed nearly 10 perc
Team Korea throws gas project to sweeten sub pitch to Canada
SEOUL, June 23 (AJP) - The Canadian submarine contest is getting bigger and bigger as decision day nears, with Team Korea led by Hanwha Ocean throwing in a $16 billion floating liquefied natural gas project and pitching a broader economic partnership that could help Ottawa reduce its dependence on the United States as an energy market to counter Germany's NATO leverage. The Korean team is targeting a strategic vulnerability. Canada is the world's fifth-largest natural gas producer in 2
Korea's baffling vitals: an economy puffing hot and cold
SEOUL, June 22 (AJP) -The South Korean economy is running hot and cold — and the honest answer to whether the hot part is real isn't yes or no. It's that the boom is genuine and the headline numbers are still misleading you about what it means for the economy as a whole. By the headline numbers, Asia's fourth-largest economy is doing exceedingly well, seemingly unfazed by nearly four months of disruption to the Strait of Hormuz, the chokepoint for roughly a fifth of the world&
Canada's sub project tests viability of 12-vessel fleet
Leverage handover arrives even as KOSPI party goes on
