Korea to join FTSE Russell global bond index next year

SEOUL, October 10 (AJP) - Korea will join one of the world's top three bond indexes, managed by London-based FTSE Russell, starting in November 2025. FTSE Russell said Tuesday that the nation's government bonds will be included in the World Government Bond Index (WGBI). This marks the fourth attempt and successful inclusion since being appointed to the index provider's review list in September 2022. FTSE Russell explained that South Korea's market accessibilit

October 10, 2024

Mercedes-Benz faces lawsuit in Korea over electric vehicle fire

SEOUL, October 10 (AJP) – A group of 24 people, including owners of Mercedes-Benz electric vehicles (EVs), on Thursday filed a damages suit against the German luxury automaker and its local sellers in connection with a massive fire involving a Mercedes-Benz EV in August. A Mercedes-Benz EQE sedan exploded in the underground parking garage of an apartment complex in Incheon, west of Seoul, on Aug. 1, sparking a fire that injured about 20 people and damaged hundreds of other car

October 10, 2024

Samsung falls to third in Forbes' world's best employers ranking

SEOUL, October 10 (AJP) - Samsung Electronics has dropped from its four-year reign as the top company in Forbes' "World's Best Employers" list, now ranking third behind Microsoft and Alphabet. Forbes on Thursday announced the result of its survey of over 300,000 employees from 50 countries to evaluate 850 multinational companies. The assessment criteria included willingness to recommend the employer, along with factors such as salary, talent development and re

October 10, 2024

Indonesia blocks Chinese E-commerce giant Temu to protect local businesses

SEOUL, October 10 (AJP) - Indonesia is maintaining its stance against Chinese e-commerce platform Temu's entry into its market, citing concerns over potential harm to local small and medium-sized enterprises (SMEs). Communications and Information Minister Budi Arie Setiadi recently emphasized that Temu's business model could be detrimental to Indonesia's economic landscape, particularly affecting smaller businesses. The Indonesian government has rejected Temu's attem

October 10, 2024

Biden calls for diplomatic path in Lebanon, reaffirms strong support for Israel

SEOUL, October 10 (AJP) - U.S. President Joe Biden reaffirmed his unwavering support for Israel during a 30-minute phone call with Prime Minister Benjamin Netanyahu amid escalating tensions in Gaza and Lebanon. Vice President Kamala Harris, who is running in the upcoming U.S. presidential election, also joined the conversation. The White House statement emphasized Biden's commitment to Israel's security and condemned Iran’s recent missile attacks on Israel, which occur

October 10, 2024

ASEAN summits open in Laos with Myanmar crisis, South China Sea disputes dominating agenda

SEOUL, October 10 (AJP) - The 44th and 45th ASEAN Summits commenced in Vientiane, Laos, Wednesday, bringing together leaders from the 10-member Southeast Asian bloc. The three-day event marks the first appearance of a Myanmar junta representative since the 2021 military coup, highlighting the ongoing crisis as a key discussion point. Thai Prime Minister Paetongtarn Shinawatra urged for a unified message against military solutions in Myanmar, while hinting at support for elections

October 10, 2024

Japan, China top diplomats address key tensions in phone talks

SEOUL, October 10 (AJP) - Japan's new foreign minister, Takeshi Iwaya, has expressed concern over China's increased military activities around Japan during phone talks with his Chinese counterpart, Wang Yi. During a 45-minute call on Wednesday, the top diplomats addressed recent tensions between the two nations, including an alleged violation of Japanese airspace by a Chinese aircraft near Nagasaki in August, according to Japan's Foreign Ministry. Iwaya expressed &quo

October 10, 2024

North Korea threatens to permanently cut off border with South Korea

SEOUL, October 10 (AJP) - North Korea said it would "permanently shut down and block the southern border" as part of a "self-defensive measure," the isolated country's state media reported on Wednesday. The move comes amid strained tensions between the two Koreas, which has worsened since North's summit with the U.S. in Hanoi collapsed in February 2019. Relations have further deteriorated as South Korean President Yoon Suk Yeol called the North the "

October 10, 2024

Five dead, 40 injured at Indian air show amid heatwave

SEOUL, October 10 (AJP) - At least five spectators died and 40 were hospitalized while watching an air show during a heatwave in Chennai, southern India, news reports said. The event, held on Sunday at Marina Beach, celebrated the 92nd anniversary of the Indian Air Force. The primary cause of death is presumed to be heatstroke. About 1.5 million people attended the show, where temperatures reached nearly 36 degrees Celsius. Many fainted from heat and dehydration. Casualti

October 10, 2024

Japanese man's 1966 quadruple murder acquittal finalized

SEOUL, October 10 (AJP) - Japanese prosecutors have declined to appeal the acquittal of Iwao Hakamata, 88, in a 1966 quadruple murder case, bringing an end to a nearly six-decade legal battle. Hakamata, who spent about 48 years on death row before his release in 2014, was cleared of all charges by the Shizuoka District Court on Sept. 26. His case marks the fifth instance in post-war Japan where retrials have led to acquittals following death sentences. The Shizuoka Prefectural Po

October 10, 2024