PHOTOS: Jeju Island - where spring begins

SEOUL, February 11 (AJP) - Jeju Island is the first place in South Korea to welcome spring. While the cold wave still lingers, the island presents a striking contrast of green landscapes interwoven with patches of snow. As Jeju eagerly awaits the full bloom of the season, its transition from winter to spring offers a picturesque view of nature’s renewal.

February 11, 2025

VISUALS: Exquisite jewels on display at exhibition in Seoul

SEOUL, February 11 (AJP) - An exhibition showcasing more than 200 sparkling jewelry pieces including accessories and other charms is currently underway at the Lotte Museum of Art in southern Seoul, drawing hordes of visitors since late last year. The months-long exhibition, dubbed "The Art of Jewellery," runs until March 16 at the contemporary art museum on the seventh floor of the 123-story Lotte World Tower in Jamsil, the tallest building in the country. Highlights among some 2

February 11, 2025

Hanwha Aerospace becomes first Korean defense firm to surpass 10 trillion won revenue

SEOUL, February 11 (AJP) - South Korean defense contractor Hanwha Aerospace posted record annual revenue of 11.2 trillion won ($7.71 billion) in 2024, becoming the first domestic firm in the sector to surpass the 10 trillion won milestone. The company’s operating profit soared 190.2 percent year-over-year to 1.7 trillion won, while net profit climbed 160.5 percent to 2.5 trillion won, according to a regulatory filing on Tuesday. Hanwha’s fourth-quarter performance rem

February 11, 2025

South Korea faces worst job market slump in decades

SEOUL, February 11 (AJP) - South Korea’s job market is experiencing its sharpest downturn since the Asian financial crisis more than two decades ago, with only three job openings available for every 10 job seekers in January. According to data released Tuesday by the Ministry of Employment and Labor, new job postings fell 42.7 percent year-over-year to 135,000 last month, while the number of job seekers declined 6.5 percent to 479,000. The job-to-applicant ratio sank to 0.28 &

February 11, 2025

South Korea wins first-ever gold medal in biathlon at Harbin Winter Asian Games

SEOUL, February 11 (AJP) - South Korea on Tuesday won gold in biathlon at this year's Winter Asian Games currently underway in Harbin, China. Ekaterina Avvakumova, a Russian-born biathlete who obtained South Korean citizenship in 2016, won the women's 7.5-km sprint event with a time of 22:45.40. Her victory marks the country's first-ever gold medal in biathlon at the quadrennial event. The previous best result was a silver-medal finish in the men's relay event at

February 11, 2025

Coupang tightens grip on online grocery shopping in South Korea

SEOUL, February 11 (AJP) - About 55 percent of South Korean consumers primarily use Coupang for online grocery shopping, according to a new market research report, released Tuesday. A survey conducted by Open Survey of 1,285 adults aged 20 to 59 found that 55.4 percent primarily use Coupang for online grocery purchases. Market Kurly followed at 8.6 percent, with Naver Shopping at 8.4 percent and Homeplus Mall at 5.6 percent. Coupang’s market share has surged by 15.3 perce

February 11, 2025

Unused credit cards surge, driving up consumer costs

SEOUL, February 11 (AJP) - Nearly one in three credit cards issued in South Korea remains unused, adding to a growing financial burden for consumers as card companies capitalize on rising annual fees, according to new data from the Credit Finance Association of Korea. By the end of 2024, the number of dormant credit cards - those left unused for more than a year - had climbed to 19.41 million, a sharp increase from 12.99 million in 2021. That figure accounts for roughly one-third of

February 11, 2025

North Korea condemns arrival of US nuclear-powered sub in Busan

SEOUL, February 11 (AJP) - North Korea on Tuesday condemned the arrival of a U.S. nuclear-powered submarine in Busan the previous day. The USS Alexandria, a Los Angeles-class attack submarine, docked at a naval base in the southern port city to resupply and provide rest for its crew. Commissioned in 1991, the Alexandria is making its first visit to South Korea. "We express grave concern over the U.S. dangerous hostile military act that can lead the acute military confront

February 11, 2025

BYD's entry raises data privacy concerns in South Korea

SEOUL, February 11 (AJP) - The arrival of Chinese automaker BYD in South Korea has ignited concerns among experts over data security in connected vehicles, with warnings of potential privacy risks and information leakage. As of November last year, South Korea had 9.47 million connected vehicles on its roads, accounting for 36.04 percent of all registered automobiles in the country. Industry analysts estimate that when factoring in various wireless communication technologies, ne

February 11, 2025

US tariffs may cut South Korean exports by $44.8 billion: KIEP

SEOUL, February 11 (AJP) - South Korean exports could decline by as much as $44.8 billion if the United States implements blanket tariffs on trading partners, including those with bilateral free trade agreements, the state-run Korea Institute for International Economic Policy (KIEP) has warned. The prediction comes as U.S. President Donald Trump announced plans to impose a 25 percent tariff on steel and aluminum imports while signaling the possibility of additional reciprocal tariff

February 11, 2025