Poland expected to purchase Korean arms without financing support from Seoul

SEOUL, October 22 (AJP) - Poland is expected to buy South Korean artillery systems worth about 5 trillion won (US$3.6 billion) without export financing support from Seoul, industry sources said on Tuesday. The Eastern European nation plans to procure 152 K9 Thunder self-propelled howitzers and 72 K239 Chunmoo rocket artillery systems, from South Korean defense contractor Hanwha Aerospace, with funding expected to be secured through European global banks. The decision marks a shif

October 22, 2024

OPINION: Hamas leader Yahya Sinwar's death is defining moment, but it will not end war

SEOUL, October 22 (AJP) - The death of Hamas leader Yahya Sinwar, one of the masterminds behind the group's horrific Oct. 7 2023 attack on southern Israel, is no doubt a consequential moment in Israel's year-long war against Hamas. But is it a turning point? Israeli Prime Minister Benjamin Netanyahu said Sinwar's killing – long a major objective of the Israel Defense Forces (IDF) – would signal the "beginning of the end" of the war. But he made c

October 22, 2024

PHOTOS: Disability activists rally for rights bill in Seoul

SEOUL, October 21 (AJP) - Disability rights activists rallied near the National Assembly in Seoul on Friday, advocating for a law revision to guarantee their human rights and support independent living conditions. The rally commemorated the 21st anniversary of the Korea Council of Centers for Independent Living, which represents 96 centers nationwide that support independent living for people with disabilities.

October 21, 2024

PHOTOS: Aju hosts walkathon through royal palaces, ex-presidential complex

SEOUL, October 21 (AJP) - The 3rd Walking Festival for the Blue House and Five Royal Palaces in Seoul took place on Saturday, offering participants a tour of the city's historic sites. Hosted by The Aju Business Daily, the 13-kilometer route included the former presidential office complex of Cheongwadae and the five royal palaces: Gyeongbokgung, Changdeokgung, Changgyeonggung, Gyeonghuigung, and Deoksugung.

October 21, 2024

PHOTOS: Silvergrass festival opens in Seoul

SEOUL, October 21 (AJP) - The Seoul Silvergrass Festival is being held in Mapo, Seoul, from Oct. 19 to 25. The festival takes place in a silvergrass field spanning about 198,000 square meters. This regenerated park, once a landfill, has been restored to nature from barren land. The festival, which began when the park opened in 2002, marks its 23rd anniversary this year.

October 21, 2024

PHOTOS: Netflix to release 'Hellbound' Season 2 this week

SEOUL, October 21 (AJP) - The cast and crew of Netflix's "Hellbound" Season 2 held a press conference in Seoul on Monday, ahead of the series' release on Friday. The dystopian thriller, directed by Yeon Sang-ho and co-written by Yeon and Choi Gyu-seok, continues the story of a world thrown into chaos by supernatural occurrences and religious conflict. Starring Kim Hyun-joo, Kim Sung-cheol and Kim Shin-rock, the new season promises to expand on the critically acclaimed first

October 21, 2024

NCSOFT to spin off units amid financial struggles

SEOUL, October 21 (AJP) - NCSOFT Corp., a South Korean online game developer, has decided to spin off its artificial intelligence research unit and three game development teams amid declining earnings and underperforming new titles. The company made the announcement Monday in a regulatory filing after an extraordinary board meeting. Under the plan, its AI research division will become NC AI, while three game development teams will be spun off into independent studios: Studio X f

October 21, 2024

Doosan Group revives controversial plan to merge two subsidiaries

SEOUL, October 21 (AJP) - Korea's Doosan Group is reviving plans to merge subsidiaries Doosan Bobcat and Doosan Robotics, two months after abandoning the proposal amid investor and regulatory opposition. Doosan Robotics and Doosan Enerbility, Bobcat's parent company, said they held separate board meetings Monday and approved a restructuring plan, under which Bobcat, a construction equipment manufacturer, will be separated from its parent and affiliated under Robotics. Ene

October 21, 2024

Event marks 68th anniversary of Hungarian Revolution in Seoul

SEOUL, October 21 (AJP) - A special event commemorating the 68th anniversary of the Hungarian uprising was held in central Seoul last Friday. Hosted by the Hungarian Embassy in Seoul, the event, also celebrating the 35th anniversary of its diplomatic relations with South Korea, gathered over 200 participants and guests including foreign dignitaries and business leaders. Hungarian Ambassador to South Korea István Szerdahelyi stressed the significance of the Hungarian Revolu

October 21, 2024

Jewelry, watches drive luxury sales rebound in Korea

SEOUL, October 21 (AJP) - Jewelry and watches are driving a sharp recovery in South Korea's luxury goods market this year, according to industry data released Monday. Three major department stores reported overall luxury sales rebounded this year, with quarterly growth rates around 10 percent. The market expanded 22.3 percent in 2022 and 5.8 percent in 2023. Hyundai Department Store saw jewelry sales increase 33.5 percent, 29.9 percent and 33.4 percent in the first three quar

October 21, 2024