Korea's top financial regulator signals resignation over commercial law dispute

SEOUL, April 2 (AJP) - Financial Supervisory Service chief Lee Bok-hyun said Wednesday that he had expressed his intention to resign following a dispute over a proposed amendment to the country’s commercial law. Lee’s announcement, made during a radio interview, follows his previous vow to stake his position on opposing the presidential veto of the controversial amendments to the Commercial Act. That veto was exercised on Tuesday by Acting President Han Duck-soo during a

April 2, 2025

PHOTOS: Spring flowers delight citizens

SEOUL, April 01 (AJP) - Cherry blossoms and forsythia, harbingers of spring, are in full bloom everywhere. We've gathered a collection of spring flowers in full bloom across the country.

April 1, 2025

Trump suggests US is in 'communication' with North Korea

SEOUL, April 1 (AJP) - U.S. President Donald Trump said Monday that there is "communication" with North Korean leader Kim Jong-un, hinting at his willingness to engage with the reclusive country. "We have a great relationship, and..... there is communication," he told reporters at the White House, without providing further details. But when asked whether he plans to reach out to Kim, he said, "I will probably do something at some point." Recal

April 1, 2025

Korean won falls to 15-year low amid political uncertainty

SEOUL, April 1 (AJP) - The South Korean won fell to its lowest level against the U.S. dollar in more than 15 years, closing at 1,472.90 won per dollar, Monday as political uncertainty weighed on investor sentiment. The currency showed a modest recovery in early Tuesday trading. As of 1:30 p.m. on Tuesday, the won was trading at 1,470.60 per dollar, down 0.16 percent from Monday’s close but still 0.8 percent above the monthly average of 1,457.60. “The won’s recen

April 1, 2025

Constitutional Court of Korea to decide on Yoon's impeachment this Friday

SEOUL, April 1 (AJP) - The Constitutional Court of Korea on Tuesday said it will deliver its ruling on the fate of President Yoon Suk Yeol later this week, about four months after the National Assembly voted to impeach him in mid-December last year. The highest court's eight judges, who finally set the ruling date after more than a month of deliberation following Yoon's final hearing over his botched Dec. 3 declaration of martial law, told reporters that the ruling will be b

April 1, 2025

Japanese Encephalitis alert issued

SEOUL, April 1 (AJP) - With a forecasted long summer amid unseasonably hot spring weather in some southern regions, a nationwide alert for Japanese encephalitis has been issued as mosquito activity is expected to rise. The alert came after the Korea Disease Control and Prevention Agency (KDCA) found that samples of the specific species of mosquitos transmitting the disease were detected for the first time this year in Jeju and South Jeolla Province last week. Japanese encephaliti

April 1, 2025

Finance minister's US treasury investments raise questions over integrity

SEOUL, April 1 (AJP) - South Korea's Minister of Economy and Finance, Choi Sang-mok, invested approximately 200 million won (US$135,771) in U.S. treasury bonds last year, while the Korean won was weakening sharply against the dollar. The disclosure has prompted criticism over potential conflicts of interest, given his role in stabilizing the nation's currency. According to official asset disclosure documents released on March 27, Choi purchased 30-year U.S. treasury bonds

April 1, 2025

Former lawmaker Jang Je-won found dead amid sexual assault probe

SEOUL, April 01 (AJP) - Former People Power Party lawmaker Jang Je-won, who was under police investigation for sexual assault allegations, was found dead at about 11:40 p.m. on Monday, police reported Tuesday. According to the police, Jang was found dead at around 11:40 p.m. at a studio apartment in Seoul’s eastern district of Gangdong. A note believed to have been written by Jang was found at the scene. Police suspect Jang took his own life and are investigating the exact c

April 1, 2025

Kim Soo-hyun denies allegations, files defamation charges against Kim Sae-ron's family

SEOUL, March 31 (AJP) - Actor Kim Soo-hyun denied accusations that he dated late actress Kim Sae-ron while she was a minor, holding a press event on Monday to address the claims. This is the actor's first public appearance since the family of the late actress accused him of maintaining a six-year relationship with her, which reportedly began when she was underage. The allegations were made last month via a quasi-news YouTube channel. In a tearful statement, Kim clarified, &ld

March 31, 2025

PHOTOS: After the flames, nation rallies to aid wildfire victims

SEOUL, March 31 (AJP) - The devastating wildfires that tore through South Korea’s southeastern region have finally been extinguished, authorities confirmed. Firefighters and military personnel worked around the clock to contain the flames, while civilian volunteers stepped in to provide critical support, offering medical care and meals to those impacted by the disaster. As the nation rallies to aid affected communities, fundraising efforts are gaining momentum. Donation

March 31, 2025