Philippines cuts corporate tax to 20% to boost investment

SEOUL, November 12 (AJP) - Philippine President Ferdinand Marcos Jr. signed an act Monday reducing corporate tax rates from 25 percent to 20 percent and extending tax incentives for strategic investments from 10 to 27 years. "We have taken a decisive step toward our vision of a globally competitive, investment-driven Philippine economy," Marcos said at the signing ceremony. "Through this law, we aim to attract both domestic and global investments in strategic industri

November 12, 2024

PHOTOS: New waterfront space opens in southern Seoul, offering recreational and eco-friendly amenities

SEOUL, November 11 (AJP) - A new waterfront space in Seoul's southern district of Gangnam opened to the public on Monday. Segokcheon, a new multi-purpose complex, developed by the Seoul Metropolitan Government, features a waterfront park along with facilities for performances, eco-friendly terraces, and a hillside playground for climbing and other outdoor activities. As part of the city government's broader initiative to transform 76 streams spanning 342 kilometers into leisure and

November 11, 2024

Chinese man released after questioning over alleged filming of NIS headquarters

SEOUL, November 11 (AJP) - A Chinese national was released after being questioned on suspicion of using a drone to film the National Intelligence Service (NIS) headquarters over the weekend, police said on Monday. The Chinese man, whose name has not been disclosed, reportedly attempted to film a royal tomb in southern Seoul last Saturday, driven by his interest in UNESCO World Heritage sites and other Buddhist temples. Police believe he accidentally filmed the NIS headquarters in

November 11, 2024

PHOTOS: Parents pray for children's success on college entrance exam

SEOUL, November 11 (AJP) - Parents flocked to Jogyesa Temple in Seoul Monday to pray for their children's success on Thursday's College Scholastic Ability Test (CSAT).

November 11, 2024

GS E&C wins subway tunnel contract in Melbourne

SEOUL, November 11 (AJP) - GS Engineering & Construction's Australian subsidiary has secured a subway tunnel construction contract worth around AU$570 million (US$375.8 million) in Melbourne. The project involves constructing nearly 10 kilometers of tunnels using specialized tunnel-boring machines designed to excavate tunnels through rock or soil, as part of the Suburban Rail Loop (SRL) East. The deal also includes the construction of 39 escape routes and two underground

November 11, 2024

Czech delegation visits South Korea to negotiate nuclear power plant project

SEOUL, November 11 (AJP) - A delegation from the Czech Republic arrived in South Korea on Monday for a two-week visit to negotiate the construction of a new nuclear power plant, according to the state-run Korea Hydro & Nuclear Power (KHNP). In July, a Korean consortium led by KHNP was selected as the preferred bidder for the Dukovany nuclear power plant project, which is valued at around 24 trillion won (US$17.1 billion). During their visit, the delegation of more than 60 peo

November 11, 2024

Russia likely to offer nuclear support to North Korea for troop deployment, U.S. official says  

SEOUL, November 11 (AJP) - North Korea could receive technical assistance for its nuclear weapons program from Russia in exchange for providing troops to support the prolonged war in Ukraine, a U.S. security official said on Sunday. During an interview with the American network CBS, the White House's National Security Adviser Jake Sullivan said that he does not know "for sure," speculating that Russian President Vladimir Putin "probably hasn't decided exactly

November 11, 2024

AI-generated host debuts on home shopping show

SEOUL, November 11 (AJP) - An AI-generated version of South Korean show host Choi Yuna debuted on a home shopping broadcast. Created by the Korean AI startup DeepBrain AI, the virtual host was featured during a Lotte Home Shopping broadcast in September, which selled Spain and Portugal package tours, the company said Monday. The human Choi Yuna appeared alongside the AI host. The AI host was generated using "AI Studios," DeepBrain AI's video sy

November 11, 2024

Devotees in India mistake air conditioner drip for holy water at Hindu temple

SEOUL, November 11 (AJP) - Water that Hindu devotees believed to be holy was later revealed to be water from an air conditioner at a temple in northern India. According to news reports on Monday, the water dripping from an elephant statue at a Hindu temple in Uttar Pradesh was regarded as holy water by devotees. Photos and videos shared on social media showed devotees gathering to drink the water from cups or their hands or applying it to their bodies. However, it was revealed

November 11, 2024

LG Energy Solution to supply batteries for SpaceX's Starship: reports

SEOUL, November 11 (AJP) - South Korea's leading battery manufacturer, LG Energy Solution, is reportedly set to supply batteries for spacecraft developed by Elon Musk's SpaceX. According to news reports, the company's cylindrical lithium-ion batteries will power SpaceX's next-generation Starship, which completed its fifth orbital test flight last month. SpaceX, which has traditionally relied on in-house battery production, plans to use the spacecraft for its Mars

November 11, 2024