Cryptocurrency exchange Upbit slapped with 3-month partial suspension

SEOUL, February 26 (AJP) - South Korea’s financial regulator has imposed a three-month partial business suspension on Dunamu, the operator of the country’s largest cryptocurrency exchange, Upbit, citing violations of anti-money laundering regulations. The Financial Intelligence Unit (FIU) announced on Wednesday that the suspension, effective from March 7 to June 6, will bar new customers from transferring virtual assets to or from the platform. Existing users, however, w

February 26, 2025

PHOTOS: Sungkyunkwan University honors ancestors ahead of graduation

SEOUL, February 26 (AJP) - Sungkyunkwan University in Seoul observed a traditional rite known as "Goyurye" on Feb. 25, just prior to its graduation ceremony. Goyurye is a traditional practice in which individuals or institutions notify their ancestors of significant upcoming events. Sungkyunkwan University, which traces its origins to the Joseon-era national education institution of the same name, continues to uphold these traditional ceremonies for important occasions.

February 26, 2025

Nominee for Pentagon deputy secretary call for enhanced missile defense to counter North Korean threat

SEOUL, February 26 (AJP) - Stephen Feinberg, a nominee for U.S. deputy secretary of defense, stressed the need to counter North Korea's growing nuclear arsenal, which poses a "clear threat to stability on the Korean Peninsula, in the Indo-Pacific region, and across the globe." In a written response submitted to the Senate Committee on Armed Services for his confirmation hearing on Tuesday, Feinberg said, North Korea "remains intensely focused on expanding its illi

February 26, 2025

Middle East's growing healthcare market attracts Korean companies

SEOUL, February 26 (AJP) - South Korean pharmaceutical and biotechnology companies are making significant inroads into the Middle East, capitalizing on the region’s growing demand for medical and aesthetic treatments. Daewoong Pharmaceutical has recently entered the Saudi Arabian market with its botulinum toxin product, Nabota, making it the first Asian firm to introduce such a product in the country. While Daewoong had previously secured regulatory approvals in the United

February 26, 2025

INTERVIEW: Kazakh envoy highlights growing collaboration opportunities in tech and commerce sectors

SEOUL, February 26 (AJP) - Kazakhstan and South Korea share a bond that goes beyond diplomacy, rooted in deep historical ties, cultural connections, and growing economic collaboration. In an exclusive interview with Nurgali Arystanov, Ambassador of the Republic of Kazakhstan to the Republic of Korea, the envoy emphasized the importance of strengthening these ties while looking to the future of bilateral relations. The relationship between Kazakhstan and South Korea is unique, mark

February 26, 2025

Hyodol to showcase AI-powered companion robot at MWC in Barcelona

SEOUL, February 26 (AJP) - South Korean robotics company Hyodol is showcasing its latest artificial intelligence-powered companion robot at this year's Mobile World Congress (MWC), which kicked off its four-day run in Barcelona, Spain earlier this week. Hyodol said Thursday that its latest innovation for the annual trade show is a feature called "Advanced Voice Mode," which allows for smoother, more natural conversations. According to Hyodol, the new feature enabl

February 26, 2025

HD Hyundai, Hanwha Ocean form alliance for naval vessel exports

SEOUL, February 26 (AJP) - South Korea’s leading shipbuilders, HD Hyundai Heavy Industries and Hanwha Ocean, have set aside years of fierce competition to collaborate on exporting naval vessels, a move aimed at expanding their presence in the lucrative global defense market. The companies signed a memorandum of understanding on Tuesday at the headquarters of the Defense Acquisition Program Administration in Gwacheon. Under the agreement, HD Hyundai will take the lead in exp

February 26, 2025

Hyundai Rotem secures $1.53 billion contract to supply trains to Morocco

SEOUL, February 26 (AJP) - Hyundai Rotem, a subsidiary of Hyundai Motor Group, has signed a landmark $1.53 billion contract to supply double-decker electric trains to Morocco, the company announced Wednesday. The deal, the largest in the company's history, marks Hyundai Rotem’s first entry into the North African market. The agreement, signed Tuesday with Morocco’s national railway operator, surpasses the firm’s previous high-profile contracts in Australia an

February 26, 2025

OPINION: Nowruz is elebration of rebirth of earth

SEOUL, February 26 (AJP) - Nowruz is the most important Iranian tradition and the largest annual celebration of the people living in the cultural and civilizational sphere of the great Iran which is celebrated every year at the beginning of spring—at the moment when the earth enters the vernal equinox. Nowruz is celebrated on the occasion of the end of the cold season and the beginning of the period of reproduction when nature is renewed and the working season begins, especiall

February 26, 2025

Yoon makes lengthy final statement as impeachment trial concludes

SEOUL, February 25 (AJP) - The Constitutional Court of Korea on Tuesday held the final hearing in President Yoon Suk Yeol's impeachment trial, wrapping up weeks of arguments over his botched martial law debacle last December. The session, which began at 2 p.m., included closing statements from both sides. Lawmakers leading the case accused Yoon of ordering military forces "to block lawmakers from entering the National Assembly and arrest them," presenting an alleged me

February 25, 2025