Aju Press - Aasia News Hub

Journalist

Joonha Yoo유준하

ReporterCOEX Sejong Center for the Performing Arts & Music, Culture, Entertainment, Automotive

Joonha Yoo is a bilingual journalist at AJU Press (AJP), covering music, culture, entertainment and Korea’s automotive industry.
Raised in Fort Collins, Colorado, he often writes from the scene, bringing firsthand detail to stories ranging
from BTS comeback concerts to unique cultural events that catch the world's eye. "I write from the scene, not from the sidelines."

Latest by Joonha Yoo

CJ ENM Q2 operating profit rises as TVING, commerce offset SEOUL, August 07 (AJP) - CJ ENM's second-quarter operating profit rose even as revenue declined, as a turnaround in its media platform business and stronger commerce earnings offset a sharp slump in film and drama Operating profit rose 16.9 percent from a year earlier to 33.4 billion won, topping the FnGuide consensus of 31.1 billion won by roughly 7.6 percent and rebounding sharply from just 1.5 billion won in the first quarter. The operating margin widened to 2.8 percent from 2.2 percent a year earlier and 0.1 percent in the previous quarter. Revenue fell 8.3 percent to 1.203 trillion won, missing the 1.264 trillion won consensus by about 4.8 percent. The main drag came from film and drama, while media platform, music and commerce all posted revenue growth. Operating expenses fell 8.9 percent, slightly faster than revenue, with cost of sales down 14.6 percent. Film and drama revenue plunged 53.7 percent to 190.2 billion won and fell 58.4 percent from the previous quarter. The division posted an operating loss of 10.5 billion won. CJ ENM attributed the decline mainly to a gap in drama deliveries from Fifth Season, its U.S. production arm, which offset stronger overseas sales of Korean studio content. Media Platform revenue rose 19 percent to 380 billion won, while the segment swung from a loss a year earlier to an operating profit of 11 billion won. TVING continued to add subscribers on KBO baseball and original programming, while advertising revenue jumped 52.2 percent. Linear TV remained weak, however, with advertising revenue down 20.9 percent. Music revenue increased 16.7 percent to 230.2 billion won on stronger album sales and global live events, but operating profit fell 36.4 percent to 10.9 billion won as spending on Mnet Plus and new artists increased. Commerce remained the company's largest profit contributor. Revenue rose 4.4 percent to 402.8 billion won and operating profit climbed 21.2 percent to 26 billion won. Mobile live commerce GMV surged 161.3 percent as short-form content helped attract new customers. Premium travel and kids products supported sales growth, while higher-margin health supplement and beauty categories helped profitability. Net income fell 80.6 percent from a year earlier to 22.2 billion won, though the company returned to profit after posting a 6.1 billion won net loss in the first quarter. CJ ENM said it plans to sustain TVING's growth in the second half, expand scripted-content sales overseas and step up new albums, tours and artist debuts in its music business. Shares of CJ ENM were up 3.37 percent at 35,250 won as of 3 p.m. in Seoul trading. AJP Takeaway: CJ ENM's second-quarter operating profit rose 16.9 percent year on year to 33.4 billion won, beating the FnGuide consensus of 31.1 billion won, even as revenue fell 8.3 percent to 1.203 trillion won. Media Platform swung to an 11 billion won operating profit as TVING subscriber growth and a 52.2 percent jump in advertising revenue helped offset continued weakness in linear TV advertising. Commerce remained CJ ENM's biggest profit contributor, with operating profit rising 21.2 percent to 26 billion won as mobile live-commerce GMV surged 161.3 percent and higher-margin health and beauty products supported profitability. Film and drama remained the main drag, with revenue plunging 53.7 percent to 190.2 billion won and the segment posting a 10.5 billion won operating loss, largely due to a gap in drama deliveries from U.S. production arm Fifth Season. CJ ENM plans to sustain TVING growth, expand overseas scripted-content sales and accelerate music releases and tours in the second half, while shares were up 3.37 percent at 35,250 won as of 3 p.m. Friday. 2026-08-07 15:43:09
Naver bets on AI factory, burns $700 million despite profit dent SEOUL, August 07 (AJP) -Naver is doubling down on an AI factory buildout despite the growing dent on its bottom line, while trying not to leave shareholders to foot the bill, retiring about 1 trillion won ($720 million) worth of treasury shares even as its stock sank 7.5 percent Friday. South Korea's largest internet platform said second-quarter revenue rose 16.2 percent from a year earlier to 3.389 trillion won ($2.45 billion), powered by its core platform business and fast-growing global consumer-to-consumer operations. Operating profit, however, was virtually flat at 520.3 billion won, down 0.2 percent from a year earlier, as heavy spending on artificial intelligence infrastructure, content and data offset the revenue growth. Its operating margin slipped to 15.4 percent from 17.9 percent, while operating expenses stretched 19.8 percent. Naver asks investors to read the widening cost burden not simply as margin erosion, but as the price of building another profit engine. The company is developing an "AI factory" with Nvidia and Brookfield, betting that large-scale computing capacity can eventually become a standalone business rather than remain an expensive piece of infrastructure supporting its existing platform. The buildout is scheduled in stages, beginning with 55 megawatts of capacity in the first half of 2027, expanding to 100 MW by the end of that year and 200 MW in 2028. Chief Executive Officer Choi Soo-yeon has argued that increasingly inexpensive AI models will not diminish computing demand. Instead, cheaper models should broaden AI adoption and create more demand for computing power. The financing structure is central to that bet. Nvidia is investing roughly $1 billion directly in Naver, while Brookfield is in talks to commit as much as $9 billion to a special-purpose vehicle that would own the graphics processing units and data centers. Naver would retain full ownership of the operating company selling computing capacity to customers, while the hardware itself would sit on the SPV's balance sheet. That arrangement is designed to keep the most capital-intensive assets away from Naver's own books while allowing the company to retain the revenue and operating margin from selling computing services. Executives have indicated margins could begin at relatively low levels and eventually approach 20 percent as utilization rises and the business matures, although the company has stressed that profitability will depend on customer demand, contract structures, chip prices and technological shifts. Naver says it has several ways to limit those risks. The company itself is already one of Korea's largest users of AI computing capacity, allowing internal demand to be combined with external customers to stabilize utilization. Nvidia's equity investment is expected to improve access to GPUs, while customer contracts will be staggered rather than concentrated around a single duration. The greater uncertainty is technological. If inference workloads increasingly migrate from Nvidia GPUs to customized AI accelerators, the economics of the business could change quickly. Naver has said it plans to adjust pricing and contract structures as computing technology evolves. The company is also trying to ring-fence the new AI business from existing operations. Naver has said the AI factory and commerce businesses are managed separately and that GPUs currently powering its platform services will not be transferred into the new SPV. Depreciation currently weighing on platform margins therefore comes from existing infrastructure, while the AI cloud operation is intended to begin with a more asset-light structure. Its commerce business remained resilient in the second quarter. Smart Store transaction value increased 15.5 percent from a year earlier, while N Delivery volume surged 76 percent in June. Delivery coverage exceeded 20 percent and is expected to reach 25 percent by year-end. But cost pressure remains substantial. Partner expenses rose 22 percent, reflecting revenue-linked fees, World Cup broadcasting rights and the rollout of Npay Connect. Marketing costs climbed 25.4 percent, while development and operating expenses increased 15.2 percent. Naver has warned that margins could deteriorate further in the second half as Npay Connect expands, although it expects this year to mark the peak of the current investment cycle. Against that backdrop, the company has moved aggressively to reassure shareholders. Chief Financial Officer Kim Hee-cheol said during Friday's earnings call that Naver on Aug. 3 retired 4.9 million treasury shares, equivalent to 3.1 percent of total shares outstanding, worth roughly 1 trillion won. Kim said Naver would continue considering additional measures to enhance shareholder value under its shareholder-return policy.The gesture failed to prevent a selloff. Naver shares fell 7.5 percent to 209,000 won Friday as investors focused on stagnant earnings and the near-term burden of AI investment rather than the longer-term promise of the new business. There are, however, early signs that AI is beginning to improve economics elsewhere on the platform. Naver's AI tab surpassed 10 million monthly active users by early August. Advertising attached to AI Briefing has generated click-through rates and cost-per-click levels more than 30 percent higher than conventional search advertising, while purchase conversion has been about three times higher. The AI factory itself will not generate revenue before 2027. AJP Takeaways AI over margins: Naver is accepting near-term profit pressure as it pours investment into AI infrastructure, betting computing services will become its next major growth engine. Capital-light AI strategy: By letting Brookfield finance GPUs and data centers while Naver retains the operating business, the company aims to expand AI capacity without overburdening its balance sheet. Shareholders not forgotten: Even as AI spending erodes margins, Naver retired 1 trillion won ($700 million) worth of treasury shares, signaling that shareholder returns remain a priority alongside long-term investment. Execution remains the test: The AI factory will not generate revenue until 2027, leaving investors focused on whether Naver can secure customers, maintain utilization and deliver the promised profitability while navigating rapidly evolving AI technology. 2026-08-07 15:04:00
Daewoo E&C moves closer to Mozambique LNG megaproject SEOUL, August 07 (AJP) -Daewoo Engineering & Construction has taken a major step toward securing one of Africa's largest energy projects after receiving a letter of intent to lead engineering, procurement and construction work on the first phase of Mozambique's Rovuma LNG development, reinforcing South Korea's presence in the global race to expand liquefied natural gas capacity. The company said Friday that ExxonMobil Mozambique, the project operator, selected the SMDC joint venture—comprising Daewoo E&C, Italy's Saipem, U.S.-based McDermott and China's CPECC—as the preferred EPC contractor for the project's midstream LNG liquefaction facilities. The letter of intent authorizes the consortium to begin front-end engineering refinement, procurement preparation and constructability reviews ahead of a final investment decision, which ExxonMobil aims to complete by the end of this year. A full EPC contract is expected to follow if the project receives final approval. The Rovuma LNG Phase 1 project will develop the giant Area 4 offshore gas field in northern Mozambique and build an LNG liquefaction complex capable of producing 18.6 million metric tons annually, together with a large gas-fired combined-cycle power plant and related infrastructure. The project is designed as an electrically driven LNG facility that replaces conventional gas turbines with electric motors to reduce carbon emissions and improve energy efficiency. Commercial operations are targeted for 2031. The project is owned by Rovuma Venture, a consortium led by ExxonMobil, Italy's Eni and China's CNPC through Mozambique Rovuma Venture, alongside Mozambique's state energy company ENH, Korea Gas Corp. (KOGAS) and Abu Dhabi's XRG. For South Korea, the project extends its footprint in global LNG infrastructure beyond gas imports. KOGAS already holds a 10 percent stake in the development, while Daewoo E&C's selection as a prime contractor strengthens Korea's role across both upstream investment and downstream engineering. The appointment also reinforces Daewoo E&C's standing in one of the world's most technically demanding construction markets. LNG liquefaction plants require specialized cryogenic technology capable of processing natural gas at temperatures below minus 162 degrees Celsius, a market historically dominated by a handful of global contractors including Bechtel, McDermott, Saipem and Japan's JGC. Daewoo E&C became the first South Korean builder to join that group as a prime contractor through Nigeria LNG Train 7 in 2020. Its selection for Rovuma LNG further establishes the company as one of the few Asian contractors capable of leading large-scale LNG liquefaction projects rather than serving only as a subcontractor. The project also comes as demand for LNG infrastructure is expected to remain robust despite the global energy transition. Rapid growth in artificial intelligence, hyperscale data centers and electricity consumption has revived interest in natural gas as a lower-carbon transition fuel capable of supporting increasingly power-intensive economies. If the final investment decision proceeds as planned later this year, Rovuma LNG would become one of the largest new LNG developments launched globally in recent years and a significant overseas order for South Korea's engineering industry. At 02:12 p.m. Friday, shares of Daewoo E&C were trading 3.26 percent lower at 16,330 won. 2026-08-07 14:25:51
Naver's Q2 operating profit misses consensus as costs outpace sales SEOUL, August 07 (AJP) - Naver's second-quarter operating profit fell short of market expectations despite stronger-than-expected revenue, as spending on artificial intelligence, marketing, sports broadcasting and payment infrastructure squeezed margins. Operating profit for the April-June period came to 520.3 billion won ($346 million), down 0.2 percent from a year earlier and 4 percent from the previous quarter. It was 8.1 percent below the FnGuide consensus of 566.2 billion won. The operating margin narrowed to 15.4 percent from 17.9 percent a year earlier and 16.7 percent in the first quarter. Operating expenses jumped 19.8 percent to 2.868 trillion won, outpacing revenue growth. Partner expenses rose 22 percent, reflecting World Cup broadcasting rights and spending on Npay Connect terminals, marketing costs climbed 25.4 percent, and infrastructure spending rose 11.2 percent as Naver built out AI capacity. Revenue grew 16.2 percent on year to 3.389 trillion won, 0.7 percent above the market estimate of 3.366 trillion won, on growth in Naver's main platform operations and consumer-to-consumer businesses. Excluding the consolidation of Spanish secondhand marketplace Wallapop, which Naver acquired earlier this year, revenue rose 14.5 percent. Core platform revenue increased 12.3 percent to 1.902 trillion won, with advertising up 7.5 percent and services up 31.3 percent. Monthly active users of Naver's AI tab reached 10 million, while Smart Store transaction volume rose 15.5 percent. The segment's margin, however, fell to 28.5 percent from 32.7 percent a year earlier. Financial platform revenue rose 16 percent to 470.7 billion won as total payment volume increased 21 percent to 25.2 trillion won. Its margin dropped to 3 percent from 7.9 percent amid heavier spending on payment infrastructure. Revenue from Naver's C2C, content and enterprise businesses climbed 24.4 percent to 1.016 trillion won. C2C revenue surged 74.9 percent, helped by Wallapop's consolidation, changes to Poshmark's service and brisk trading-card transactions on Soda. Excluding Wallapop, C2C revenue still grew 52.1 percent. The three businesses posted a combined operating loss of 35.6 billion won, widening from 14.8 billion won in the first quarter but narrowing from 65 billion won a year earlier. Net income rose 41.6 percent on year to 704.3 billion won, nearly 47 percent above the FnGuide consensus of 479.2 billion won. The beat came mainly from equity-method gains and valuation gains on financial assets rather than stronger operating profit. Hanwha Investment & Securities said Naver's push to monetize generative AI from the third quarter may take at least two more quarters to show whether the services generate additional advertising revenue or merely shift spending from existing products. The brokerage maintained a "buy" rating and a 300,000 won target price but expects the shares to remain range-bound in the near term. Naver shares were down 2.21 percent at 220,500 won as of 9:45 a.m. Friday. 2026-08-07 10:02:56
Stray Kids hit 'mega IP' scale, but say risk still drives the music SEOUL, August 06 (AJP) - Stray Kids are now spoken of in the language of K-pop scale: record album debuts, sold-out tours and the kind of commercial weight that makes a group more than a performing act. But at a press event in Seoul ahead of the release of the group's new EP, "THIS & THAT," the eight members kept returning to a different idea — that the safest version of Stray Kids is not necessarily the one they want to repeat. The EP will be released Friday at 1 p.m. KST, following a run in which Stray Kids became the first act to debut eight consecutive releases at No. 1 on the Billboard 200, according to JYP Entertainment. A reporter at the event also cited a recent paper by a Sungshin Women's University researcher that placed Stray Kids among a small group of K-pop acts with more than 10 million cumulative album sales — a tier described in the question as "mega IP." That is the kind of status that can pressure a group to protect its formula. Stray Kids said it chose the opposite. "There are always safe choices," Bang Chan said. "We could have brought back the same energy we had before. But the reason we keep trying new things is because that feels more fun." He said taking a new path can bring difficulties and variables, but that the process also gives the group something to learn. "If we did the same thing every time, it would lose interest," he said. "That is why we keep starting something new." That idea sits at the center of "THIS & THAT," whose title track marks a shift from some of the high-intensity songs that have defined much of Stray Kids' image. Changbin said the title track shows a more relaxed side of the group while still carrying the confidence implied by the album title — the idea that Stray Kids can try "this and that" without losing its identity. Han described the track as experimental because of its unusual sound, but said the group tried to make it easier to approach by repeating simpler lyrics in the chorus. The members said they were drawn to the song early in the writing process in the United States, when the hook came together quickly and the rhythm made them want to move. Even so, the group isn't pretending the numbers around it don't exist. Asked about expectations for extending its Billboard streak, Changbin said the members do not build albums around chart targets. "When we prepare an album, a concert or a new project, we do not start by setting achievements as the standard," he said. "We try to show and share our sincerity with STAY." Asked later about awards, including the Grammy Awards' new Asian pop category, the members again avoided talking about submissions or odds and returned to the same point: music first. Seungmin said Stray Kids builds its music and performances from stories that come from inside the group rather than from outside expectations. Felix said the group's biggest goal with "THIS & THAT" is to show what it can do and make fans happy. "The most important thing is that our fans are satisfied and happy," he said. The event also placed Stray Kids' next stage in view. Lee Know, born in 1998, addressed the mandatory military service question that will eventually reach every member of the group. He said fulfilling the duty would be natural when the time comes, while adding that detailed plans for post-service album activities have not yet been discussed. "What is certain is that we will gather again," Lee Know said. "Please wait a little. I'll be back soon." That answer gave the album another layer. "THIS & THAT" is arriving at a point when Stray Kids has little left to prove commercially, but also when the group is beginning to face the time limits that come with military service — a stage every Korean male act eventually reaches. Seungmin said the group did not want to lose the happiness of the present by thinking too far ahead. "Our goal is to do the best activities we can in the present," he said, "and show the best music and performances with sincerity." For Stray Kids, the message around "THIS & THAT" is not that records no longer matter. It is that the group does not want records to decide the shape of its music. At the moment when the safer choice may be easiest to justify, Stray Kids are still making the case for risk. AJP Takeaway: Stray Kids will release the EP “THIS & THAT” at 1 p.m. KST on Aug. 7, 2026, after becoming the first act to debut eight consecutive releases at No. 1 on the Billboard 200, according to JYP Entertainment. A recent academic paper cited at the Seoul press event placed Stray Kids among a small group of K-pop acts with more than 10 million cumulative album sales, a commercial tier described as “mega IP.” Despite that scale, Stray Kids said it deliberately avoided repeating a proven formula, using the title track to explore a more relaxed and experimental sound while preserving the group’s identity. The members said chart records and awards, including the Grammy Awards’ new Asian pop category, do not determine how they make music, emphasizing internal storytelling and fan satisfaction instead. Lee Know said Stray Kids will reunite after completing mandatory military service, while the group’s immediate priority is to focus on its current music and performances rather than distant plans. 2026-08-06 17:42:35
In a record year for K-pop, NOWZ picks a lane instead of a fight SEOUL, August 05 (AJP) - K-pop boy group NOWZ released its latest digital single "Achilles" on Wednesday into one of the busiest stretches of the K-pop calendar, but the group framed the comeback less as a head-to-head contest and more as an attempt to sharpen its own identity. The five-member boy group released "Achilles" at 6 p.m, (0900GMT) marking its first Korean comeback in about 10 months since "Play Ball" and its first new release in five months since the Japanese single "AMMO." The release arrives during a crowded August for boy groups. Several of Korea's biggest labels have major acts returning within days of each other this month, and some local outlets have already described the stretch as a "comeback war." NOWZ took a different line at its media showcase in Seoul. Asked whether promoting alongside bigger and more established acts created pressure, Hyunbin said the members had worried about it at first. But he said the group eventually decided to focus less on comparison and more on becoming a better version of itself. "Rather than comparing ourselves with others, we thought more about how we could become a better NOWZ," he said. That answer gave shape to how the group presented "Achilles." The single uses 1980s funk and disco sounds, a deliberate shift from the stronger rock and EDM-based tracks NOWZ has previously tried. The song tells a story about love as vulnerability, taking its title from the idea of an Achilles' heel. Siyun said the group had often built its music around youth, challenge and achievement, but wanted this time to tell a story about youth and love. "However strong someone is, they have a weakness," Siyun said. "We wanted to tell that through love — the moment you start to fall apart in front of one person." The sound also reflects NOWZ's attempt to find a lane that is not simply louder or heavier than what it has done before. Yeonwoo said the members had long been drawn to retro sounds and wanted to test how NOWZ would handle a genre different from its previous releases. Hyunbin said the fact that all five members were born in the 2000s made the contrast with the 1980s sound more interesting. "We thought something new could come out of it if five members born in the 2000s performed a song with the sound of the 1980s," he said. The group calls the concept "zero sexy," a phrase the members used to describe a cleaner and more restrained kind of appeal. Yeonwoo said the idea was not to push an overtly provocative image, but to show a subtler pull. Jinhyuk compared it to the way people increasingly choose zero-sugar drinks, while Siyun said the group wanted to have the kind of appeal that makes people keep coming back. The keyword also shaped the group's promotional film, in which the members appeared styled as salad ingredients. Hyunbin said the group had considered a more intense club-style concept before deciding it did not fit NOWZ. "We shot a version in a club with more intense visuals, but it wasn't really our style," he said. "So we went with 'zero sexy' instead." NOWZ's choice to lean into a specific concept comes during a strong year for K-pop sales. According to Hanteo Chart's midyear report, K-pop album sales reached 49.53 million copies in the first half of 2026, up about 23 percent from a year earlier and the highest first-half total on record. The report said the growth was not driven only by the industry's biggest names, pointing to a wider group of acts crossing the million-seller mark. For NOWZ, which is still building wider recognition, Jinhyuk said the goal is not to overpower the competition but to make listeners notice a sound the group believes is missing. "We thought there was a gap in today's music market," he said. "We want to stand out with something that feels like ours." NOWZ is scheduled to appear at the 2026 TME Live International Music Awards in Hong Kong on Aug. 22. AJP Takeaway: K-pop boy group NOWZ released the digital single “Achilles” at 6 p.m. KST on Aug. 5, 2026, marking its first Korean comeback in about 10 months since “Play Ball.” Rather than frame the release as part of an August “comeback war,” NOWZ said it is focusing on building a clearer group identity and finding a distinctive place in the K-pop market. “Achilles” blends 1980s funk and disco with a story about love as vulnerability, marking a shift from the rock- and EDM-driven sound of NOWZ’s earlier releases. The group described the comeback concept as “zero sexy,” emphasizing restrained appeal over a more provocative image and using playful promotional visuals to reinforce that positioning. The release comes as K-pop album sales reached a record 49.53 million copies in the first half of 2026, up about 23 percent from a year earlier, while NOWZ seeks to stand out through a more clearly defined sound rather than direct competition with larger acts. 2026-08-05 19:24:41
Excavators return as Guryong Village redevelopment moves forward SEOUL, August 05 (AJP) - Even in the early morning, temperatures hovered well above 30 degrees Celsius in tropical humidity — conditions ill-suited to bulldozing work, let alone human protest. Still, an excavator moved methodically through piles of soil, pipes, twisted metal and torn blue tarpaulins inside Guryong Village, the last surviving shantytown in affluent Gangnam, southern Seoul, on Tuesday. Behind corrugated metal fencing, workers in hard hats continued dismantling what remains of the settlement. Only about 10 residents remain after Seoul authorities finalized the demolition schedule. They watched quietly as the machinery advanced, largely beyond public attention to what will become of their homes, livelihoods or safety. AJP returned to Guryong Village as Seoul pressed ahead with another milestone in a decades-long effort to redevelop what the city describes as the capital's last remaining shantytown. On July 21, Seoul's third public housing integrated review committee conditionally approved plans for the M and B2 blocks of the Gaepo Guryong Village Public Housing Construction Project. The plans call for 2,120 homes across the two blocks, including 758 integrated public rental units, 1,342 long-term lease homes under Seoul's Mirinae housing program and 20 public-sale units. Block M would contain 300 homes in buildings of up to 15 stories, while Block B2 would include 1,820 homes in towers reaching 28 stories. Seoul plans to seek final approval for the housing construction plan in the second half of 2026, begin construction in 2027 and complete the project in 2031. The city said the plans could still change during subsequent approval procedures. For city officials, the redevelopment promises safer housing and thousands of new public homes in one of Seoul's most expensive districts. For those still refusing to leave, however, the new apartment plans do little to answer more immediate questions about compensation, relocation and whether they will ever be allowed to return. Compensation before relocation Among the remaining residents was Bae, who has become a spokesman for households displaced by repeated fires in the village. "The first thing we are asking for is not a right to move into the new development or a rental unit," Bae told AJP. "It is for our property to be properly recognized and compensated." Bae said many dwellings had been classified as temporary structures rather than homes despite having concrete foundations, boilers, support posts, windows and kitchens. He pointed to numbered doorplates, running water and years of tax payments as evidence that families had lived there as ordinary residences for decades. AJP has not independently reviewed the official classification or appraisal documents. Bae said compensation offered to some fire-affected households amounted to only several million won, although payments differ depending on each household's legal and occupancy status. Temporary accommodation, he said, would not resolve the larger question of whether displaced residents would ever return once redevelopment is completed. "Being offered temporary rental housing is not the end of the issue," he said. "There still has to be an agreement on how people can return after construction." He fears only a small number of today's residents will ultimately qualify to move back unless clearer resettlement guarantees are reached before demolition is completed. Seoul's redevelopment plan says the project will include integrated public rental housing for existing residents, but it does not specify how disputed households will be classified, how individual compensation will be calculated or what each family would have to pay to return. Machinery with a history For residents, the arrival of excavators carries memories extending well beyond the current demolition. On Feb. 6, 2015, the Gangnam District Office began demolishing a temporary structure used as the village residents' hall after saying its permit had expired and citing safety concerns. Residents resisted, arguing the building served as the community's only gathering place. The Seoul Administrative Court later ordered the demolition suspended, but not before much of the structure had already been destroyed. The legal circumstances surrounding the current demolition differ from those of 2015. Yet the earlier confrontation helps explain why heavy machinery is viewed inside Guryong Village not merely as construction equipment but as a symbol that another chapter of the settlement is disappearing. This time there were no clashes. Only a handful of residents stood watching as excavators moved through rubble behind metal fencing. Public attention has largely moved on even as those still living in the village say they remain uncertain about where they will go—or whether they will ever come back. Seoul plans to finalize the housing construction plan later this year before breaking ground in 2027. For the city, the project marks another step toward replacing Gangnam's last shantytown with more than 2,000 new public homes. For Bae, redevelopment is measured differently. He said authorities offered him 5 million won (about $3,500) to move out quietly, —an amount that can hardly cover the deposit for a modest public rental apartment, much less allow him to begin again. Behind him, another excavator pushed through what had once been a row of homes. "I have nowhere to go," Bae said. 2026-08-05 18:10:37
AI Summit Seoul & Expo 2026 returns this month SEOUL, August 05 (AJP) - South Korea's largest AI-focused exhibition and conference will return to Seoul later this month with a larger show floor and a sharper focus on how companies are putting artificial intelligence to work across industries, COEX said Wednesday. AI Summit Seoul & Expo 2026, or AISE 2026, will run from Aug. 19 to 21 at COEX in Samseong-dong, southern Seoul, jointly organized by COEX, DMK Global and the Korea International Trade Association (KITA). The exhibition will be held in COEX Hall B, while the accompanying conference will take place in the Grand Ballroom. This year's show floor will host 125 companies across 300 booths, a 150 percent increase from last year, according to the organizers. Exhibitors will present AI solutions spanning manufacturing, logistics, finance, health care, customer experience and workplace productivity, alongside infrastructure for developing and operating generative AI systems. The lineup reflects the industry's shift from generative AI to agentic AI and physical AI, or AI built into robots and other machines. Global participants include Seagate, Adobe, Oracle, HP and Genspark, alongside Korean AI companies. A hands-on "EX-Zone" will allow visitors to try AI technologies directly. Companies including shotAi and AI Taekwondo will offer demonstrations such as sports-motion analysis and AI-based taekwondo poomsae experiences. A separate humanoid robot zone will feature AgiBot, RealMan Robotics and Pudu Robotics. The conference will run alongside the expo on Aug. 19 and 20. KAIST professor Kim Dae-sik will speak on the shift "from AI to AGI" and how AI agents could reshape work and industry. Jack Chua, CEO of Valent Health and a former Meta executive, will discuss building startups in the AI era. Kim Jung-kyun, a director at Seagate Technology, will address the future of ultra-high-capacity storage beyond AI computing. On the final day, Korea Startup Forum will host a startup pitching session, while KITA will run an investor-relations pitching day. Other side programs include AI business-matching sessions and workshops on applying AI in the workplace. The expo will run from 10 a.m. to 6 p.m. from Aug. 19 to 20 and close at 4 p.m. (0700 GMT) on Aug. 21. AJP Takeaway: AI Summit Seoul & Expo 2026 will take place at COEX in southern Seoul from Aug. 19 to 21, bringing together 125 companies across 300 booths, a 150 percent increase from last year. The event will focus on industrial applications of generative AI, agentic AI and physical AI across manufacturing, logistics, finance, health care, customer service and workplace productivity. Global technology companies including Seagate, Adobe, Oracle, HP and Genspark will participate alongside Korean AI firms, while dedicated zones will feature humanoid robots and hands-on AI demonstrations. The accompanying conference on Aug. 19 and 20 will include sessions on artificial general intelligence, AI startups, workplace transformation and ultra-high-capacity data storage, with speakers from KAIST, Valent Health and Seagate Technology. Startup pitching, investor-relations sessions, business matching and workplace AI workshops will position AISE 2026 as both a technology showcase and a platform for commercial partnerships and investment. 2026-08-05 15:27:30
Korean scam ring shifts to Central Asia on SE Asia crackdown SEOUL, August 05 (AJP) -South Korean fraud rings are spreading from Southeast Asia into Central Asia to stay ahead of law enforcement, with authorities dismantling their first known Korean-run scam operation in Kazakhstan and bringing home 14 suspects. The arrests underscore what South Korean police called a "secondary balloon effect," in which criminal organizations relocate to increasingly distant countries as crackdowns close traditional operating bases across Southeast Asia. A government-wide task force on transnational crime said Wednesday that South Korean and Kazakh authorities raided a scam office and hideout in Almaty on July 23, arresting 14 South Korean members of the organization. Five additional members of the same network were arrested simultaneously in South Korea. The 14 suspects detained in Kazakhstan were repatriated through Incheon International Airport between July 28 and Aug. 5. Ten have been formally arrested, while the remaining four were transferred to the Busan Metropolitan Police Agency for further questioning. Of the five suspects arrested in South Korea, four have also been formally arrested, while one is awaiting a court hearing on an arrest warrant. Police believe the organization involved at least 40 members. The alleged Chinese ringleader and several managers fled to China after learning of the investigation, authorities said. Police are seeking Interpol Red Notices for the fugitives and are working with overseas counterparts to locate additional suspects. Investigators said the group originally operated in Cambodia before relocating to Ho Chi Minh City, Vietnam, last year as authorities intensified crackdowns on telecom fraud. From there, the organization shifted again to Kazakhstan in March and had fully established its new base by May. Authorities believe the group chose Kazakhstan for its relatively advanced communications infrastructure and its geographic position, which allows members to flee overland to neighboring countries, including China and Kyrgyzstan. The organization allegedly operated a call center from a house on the outskirts of Almaty, carrying out voice-phishing schemes designed to isolate victims before persuading them to transfer their own money. According to investigators, victims first received calls claiming court documents had been issued in their names and were instructed to access a fake judicial website. Members posing as prosecutors then falsely claimed the victims' bank accounts had been linked to criminal activity and ordered them to relocate to hotels or other temporary lodging. Once isolated from family and acquaintances, victims were instructed to obtain new mobile phones, install remote-access software and transfer money into accounts controlled by the criminal organization. Police have so far identified 16 victims and confirmed losses of about 600 million won ($420,000). Authorities cautioned that those figures reflect only the cases included in arrest warrant applications and said total losses could ultimately reach several billion won as investigators identify additional victims. The operation was coordinated by South Korea's National Police Agency, National Intelligence Service, Foreign Ministry and Justice Ministry. Police and the NIS established a joint response team after detecting the organization's relocation to Kazakhstan. South Korea's Foreign Ministry and its consulate in Almaty supported local operations and the suspects' repatriation, while the Justice Ministry handled international judicial cooperation. Kazakhstan's National Security Committee and Interior Ministry participated in surveillance, arrests, interrogations and the suspects' return to South Korea. A senior police official said authorities moved before the group could become firmly established in Kazakhstan and significantly expand its operations. Investigators are now analyzing mobile phones, laptops and other electronic devices seized during the raid to determine the full scale of the network, identify additional crimes and track remaining fugitives in cooperation with foreign law enforcement agencies. AJP Takeaway: South Korean and Kazakh authorities raided a Korean-run scam operation in Almaty on July 23, 2026, arresting 14 Korean nationals in Kazakhstan and five additional suspects in South Korea. The 14 suspects arrested in Kazakhstan were repatriated through Incheon International Airport between July 28 and Aug. 5; police have formally arrested 10 of them, while four others remain under questioning. Investigators believe the network involved at least 40 people and moved from Cambodia to Vietnam and then Kazakhstan as crackdowns on overseas fraud rings intensified across Southeast Asia. Police have confirmed 16 victims and losses of about 600 million won, but authorities said total damages could rise to several billion won as more cases are identified. The case marks what South Korean police called a “secondary balloon effect,” with scam networks relocating beyond Southeast Asia to more distant countries, while authorities now pursue the alleged Chinese leaders and analyze seized phones, laptops and other evidence. 2026-08-05 15:07:24
New association formed to tackle challenges amid growing AI use in filmmaking SEOUL, August 5 (AJP) - A new association has been launched to help establish standards for the growing use of generative artificial Intelligence (AI) in filmmaking including scriptwriting, image creation, video production, voice generation and post-production. At its inaugural meeting in Seoul last month, the non-profit Korea Association of AI Film Directors (KAIFD) said it was established to support directors and video creators using AI, as concerns over copyright, consent, credit and ethical use continue to grow. The association says it is not simply a group of software users, but a creative community of directors who use AI to develop their own stories and cinematic worlds. The association's launch on July 15 reflects a broader shift in the country's film industry, where AI filmmaking is increasingly being recognized as more than just a technical experiment. In 2024, the annual Bucheon International Fantastic Film Festival introduced an AI competition section, while the Korean Film Council partnered with MBC C&I, the Busan Film Commission and the Bucheon festival in March to foster AI talent in film and media. KAIFD's first chairman is Choi Min-cheol, who runs production company Choicine and AI film studio nomorefrog. He said cinema's essence lies not in technology but in human stories and a director's point of view, and that AI should serve as a creative tool rather than replace the director. The association plans to conduct research, provide education, hold screenings and festivals, and promote international exchange in AI filmmaking, while its immediate focus is on copyright issues and production standards. As AI becomes more widely used in filmmaking, creators face new questions over ownership of AI-generated images and footage, the use of digital actors and synthetic voices, and how profits should be shared on collaborative projects. KAIFD said it will encourage creators to establish copyright, revenue-sharing and secondary-use terms before production begins. It also plans to develop standards to ensure that the use of AI does not diminish the contributions of directors, writers, actors, editors and composers. The association also released an ethics code built on three principles: verification, consent and responsibility. Creators are expected to check the sourcing and licensing of any material they use, including images, video, music, voices, scripts, characters and reference footage, and review the commercial-use terms of the AI tools themselves. Generating or altering a real person's face, voice or identity requires clear consent, according to the code. Any use of a digital replica of an actor, model or voice actor should also be agreed on in advance, covering purpose, duration, distribution and compensation. On deepfakes and misinformation, KAIFD said AI-generated scenes should not be presented as real footage. In news, documentary or archival formats, AI-generated reenactments should be clearly separated from real material. It said final responsibility for released AI-generated content rests with the creator who selects and publishes it, while its long-term goal is to help South Korean filmmakers work internationally and build a production environment where technology, authorship and ethics can coexist. AJP Takeaways: - The Korea Association of AI Film Directors, or KAIFD, launched as a nonprofit in Seoul on July 15, 2026, to support filmmakers using generative AI and establish industry standards for authorship, rights and ethical production. - Led by chairman Choi Min-cheol, founder of production company Choicine and AI film studio nomorefrog, KAIFD defines AI as a creative tool under a director’s control rather than a replacement for human storytelling. - The association plans to develop guidelines covering copyright ownership, revenue sharing, secondary use, production credits, digital actors and synthetic voices, with terms to be agreed before filming begins. - KAIFD's ethics code is based on verification, consent and responsibility, requiring creators to check source licensing, obtain permission before reproducing a real person’s face or voice and clearly label AI-generated reenactments. - The launch reflects the growing institutionalization of AI filmmaking in South Korea, as festivals, broadcasters and film agencies expand AI competitions, training and production programs while confronting risks involving deepfakes, misinformation and creator rights. 2026-08-05 14:58:06