PHOTOS: Royal ancestral Jongmyo Daeje ritual resumes after six-year pause

SEOUL, May 07 (AJP) - On May 4, the royal ancestral rite known as Jongmyo Daeje was held at Jongmyo Shrine in central Seoul. Recognized as the most significant and solemn ritual of its kind, Jongmyo Daeje was conducted for the first time in six years and unfolded in grand fashion beneath clear skies. Built in 1394 by King Taejo, the founder of the Joseon Dynasty, Jongmyo is the official royal shrine where the s

May 7, 2025

Samsung's Harman acquires premium audio brand B&W in $350 mln deal

SEOUL, May 7 (AJP) - Samsung Electronics' subsidiary Harman International Industries has agreed to acquire the consumer audio business of United States-based med-tech firm Masimo for $350 million, marking Samsung's largest acquisition since purchasing Harman itself for about $8 billion in 2016. The deal, revealed on Wednesday, will bring several luxury audio brands under Harman's umbrella, including the prestigious British loudspeaker manufacturer Bowers & Wilkins (B

May 7, 2025

SK On accelerates U.S. battery joint venture preparations amid localization push

SEOUL, May 07 (AJP) - South Korean battery maker SK On is accelerating its battery joint venture projects in the United States, aligning with the growing emphasis on localization spurred by the United States' trade policies and new tariffs, according to industry officials on Wednesday. SK On, which is collaborating with global automakers on multiple large-scale ventures, is now focusing on expanding its footprint in the North American electric vehicle (EV) market. BlueOval SK, i

May 7, 2025

Coupang posts record Q1 revenue, unveils major share buyback plan

SEOUL, May 07 (AJP) - Coupang Inc. reported its strongest-ever first-quarter earnings on Wednesday, pulled by favorable exchange rates and strong customer engagement despite sluggish consumer spending and growing competition in the ecommerce sector. The South Korean e-commerce giant, listed on the New York Stock Exchange, posted 11.5 trillion won ($7.9 billion) in revenue for the January–March period, alongside a 340 percent jump in operating profit to 233.7 billion won. Net i

May 7, 2025

Teaser for 'Squid Game' finale unveiled ahead of release next month

SEOUL, May 7 (AJP) - Netflix teased a trailer for the third and final season of its hit South Korean series "Squid Game" on Tuesday, ahead of its release next month. The 90-second clip immediately garnered over 208,000 views, just three hours after being unveiled on YouTube, reflecting fans' high expectations for the upcoming series. The teaser suggests that the deadly, high-stakes game continues with deeper and more intricate storylines, as contestants vie for an e

May 7, 2025

UN to discuss North Korea's ongoing sanctions violations and ties with Russia

SEOUL, May 07 (AJP) - The United Nations Security Council will convene on Wednesday to address North Korea’s continued breaches of non-proliferation resolutions, amid growing concerns over its expanding military ties with Russia. Seven member states - South Korea, the United States, Denmark, France, Panama, Slovenia, and the United Kingdom - requested the meeting. Discussions are expected to focus on North Korea’s continued breaches of Security Council resolutions

May 7, 2025

KHNP pledges to comply with Czech court order blocking nuclear deal

SEOUL, May 7 (AJP) - Korea Hydro & Nuclear Power (KHNP) said Wednesday it would honor legal proceedings in the Czech Republic, following a court decision to block the signing of a multibillion-dollar nuclear power contract. A regional court in Brno issued an injunction on Tuesday, just one day before KHNP and Czech utility Elektrarna Dukovany II (EDU II) were scheduled to finalize a deal to build two nuclear reactors at the Dukovany site. The move comes as part of an ongoing

May 7, 2025

Kim Moon-soo and Han Duck-soo to meet for talks on single candidacy

SEOUL, May 07 (AJP) - People Power Party (PPP) presidential candidate Kim Moon-soo and independent contender Han Duck-soo are set to meet Wednesday evening to discuss the possibility of unifying their campaigns ahead of the June 3 presidential election. Both camps have confirmed that the meeting is scheduled for 6 p.m. on May 7, though the location will be disclosed later. With both men seen as key conservative figures, the discussion is drawing attention as a potential step towar

May 7, 2025

Former PM seeks broad coalition as PPP in disarray over fielding unified candidate

SEOUL, May 6 (AJP) - Former Prime Minister Han Duck-soo, who declared his presidential bid last week, met with ex-Prime Minister Lee Nak-yon in central Seoul on Tuesday in a flurry of moves to gain support and consolidate forces, with the presidential election now less than a month away. After a meeting, the two said they agreed to cooperate in forming a coalition to push for constitutional reform to change the current five-year, single-term presidency, as the country faces a "

May 6, 2025

Senior US official to visit Jeju for preparatory talks ahead of APEC summit

SEOUL, May 6 (AJP) - A senior U.S. official is scheduled to visit South Korea later this week to coordinate preparations for the upcoming Asia-Pacific Economic Cooperation (APEC) summit slated to be held here this fall. According to the U.S. Department of State on Monday, Matthew Murray, the U.S. ambassador for APEC, will travel to Jeju from May 11 to 17 to attend preparatory meetings, after making stops in several cities in Japan. The U.S. will "continue to leverage APEC to

May 6, 2025