Journalist
Park Sae-jin박세진
swatchsjp@ajupress.com
Assistant EditorForeign embassies in Seoul & Geopolitics, Diplomacy, Policy
Experienced journalist and editor at AJU PRESS specializing in multilingual news. I cover international diplomacy, geolpolitics, and policy, consistently delivering highly accurate, compelling reporting for a worldwide audience.
"Reporting the facts. Shaping the narrative. Every second counts."
Latest by Park Sae-jin
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National Museum names RM as global ambassador SEOUL, June 20 (AJP) -The National Museum of Korea appointed BTS leader RM as its first global ambassador on Saturday to promote South Korean cultural heritage to an international audience. The appointment comes as South Korea aggressively leverages its global pop culture dominance to convert commercial entertainment fandom into institutional high-art diplomacy. The decision aligns with an unprecedented surge in international interest that has propelled the Seoul-based institution into the top tier of global cultural tourism. According to the 2025 Global Museum Visitor Survey published by the United Kingdom-based art magazine The Art Newspaper, the museum drew over 6.5 million visitors to rank third worldwide, surpassing both the British Museum and the Metropolitan Museum of Art. This growth has accelerated into 2026, driven primarily by an influx of foreign tourists seeking the historical roots of contemporary South Korean culture. Data from the museum shows that foreign attendance jumped 57.8 percent during the first five months of 2026 compared to the same period last year, totaling 122,024 visitors. Kim Nam-joon, the 31-year-old BTS leader, was selected for the role due to his established profile as a prominent art collector and financial patron of cultural preservation. The rapper and songwriter previously made consecutive annual donations of 100 million won in 2021 and 2022 to the Overseas Korean Cultural Heritage Foundation, an affiliate of the state-run Korea Heritage Service, to fund the restoration of South Korean artifacts located outside the country. His personal involvement in the international art scene includes an upcoming special exhibition of his private collection at the San Francisco Museum of Modern Art in October. In his new institutional role, RM will participate in various international campaigns and promotional activities to introduce South Korean history and traditional arts to global audiences. Ahead of the official announcement, the musician visited the museum on Friday to meet with Director Yoo Hong-jun. The two toured the calligraphy and painting gallery to view an exhibition titled "Danwon Kim Hong-do, Painting the Era," which showcases iconic traditional artwork. Following the tour, museum officials presented Kim with a special scroll edition of the Daedongyeojido, a scaled-down reproduction of the landmark 19th-century map of the peninsula. "I am very pleased," RM said in a statement released by the museum. "I will work together to ensure that the beauty and value of our cultural heritage are transmitted to more people." 2026-06-20 12:35:12 -
Household debt bottlenecks S. Korean corporate lending SEOUL, June 20 (AJP) - South Korea's major commercial banks face a critical bottleneck in expanding corporate credit due to a heavy structural over-reliance on household loans. A report released Saturday by the Korea Institute of Finance warned that domestic lenders lack the capital agility of global competitors, leaving them poorly positioned to support national economic growth just as regulators freeze traditional consumer lending channels. This systemic vulnerability collides with an aggressive government campaign to suppress South Korea's record 1,993.1 trillion won household debt bubble and halt speculative, debt-fueled investing. Financial authorities have implemented a strict weekly monitoring system that forces both traditional and digital platforms to drastically cut consumer credit lines. Because banks are being legally blocked from their primary retail mortgage revenue engines, they must urgently pivot to corporate finance to sustain profitability. The scale of this structural trap becomes evident when compared directly to global financial institutions. Data from the state-run think tank shows that household loans account for an average of 27.8 percent of total assets at South Korea's top four lenders, which comprise KB Kookmin, Shinhan, Hana, and Woori. This exposure is nearly double the 14.5 percent recorded at United States giant JP Morgan and dwarfs the 3.1 percent maintained by Japan's Mitsubishi UFJ Financial Group. Conversely, major international banking groups insulate their balance sheets by holding massive reserves of ultra-low-risk assets like government bonds and central bank deposits. These secure holdings make up 41.8 percent of total assets at Mitsubishi UFJ and 29.2 percent at JP Morgan. In contrast, South Korea's four leading commercial banks hold an average of just 11.8 percent of their portfolios in these risk-free vehicles. A large pool of low-risk assets lowers a financial institution's overall risk-weighted assets, which eases the burden of global capital adequacy regulations. This capital cushion provides foreign lenders with the regulatory freedom to aggressively deploy funds into riskier, high-yield sectors such as corporate loans, project financing, and investment banking. Without this buffer, any attempt by South Korean banks to rapidly expand corporate credit would inflate their risk-weighted assets and trigger restrictive regulatory capital penalties. The urgency of this structural constraint has intensified following a sweeping credit contraction across South Korea's internet-only banking sector to comply with the state debt management drive. Kakao Bank announced it will lower its maximum overdraft account limit from 240 million won to 100 million won on June 22. The digital lender also plans to reduce existing underutilized credit lines by up to 20 percent for borrowers who fail to meet minimum usage thresholds. South Korean online bank Toss Bank took similar action on June 18, slashing its new personal credit loan limit from 300 million won to 100 million won and capping new overdraft lines at 50 million won. Concurrently, K-Bank completely halted the issuance of all new overdraft accounts until the end of July. The Financial Services Commission has reinforced these pullbacks by launching an emergency administrative system to audit individual financial firms on a weekly basis if they exceed their allocated debt growth targets. These severe administrative interventions respond to central bank indicators showing that consumer debt remains resilient against localized regulatory pressure. Bank of Korea data from May revealed that while strict lending restrictions successfully shrank commercial bank household credit by 200 billion won in the first quarter, total national household credit still rose by 14 trillion won. Borrowers bypassed mainstream banking curbs and migrated to non-bank depository institutions, pushing credit at mutual credits and savings banks up by 8.2 trillion won. A dramatic spike in retail investment borrowing has further accelerated government anxiety. Data presented by Lee Hye-young, the head of the Bank of Korea's financial statistics team, showed that credit extended by domestic securities firms surged by 7.3 trillion won during the first quarter, marking the third-highest quarterly increase on record. Lee noted that continuous monitoring is required because housing-related credit also expanded as buyers rushed to complete property transactions before the expiration of capital gains tax relief for multi-home owners. To address these long-term vulnerabilities, the Korea Institute of Finance advised traditional lenders to adopt a portfolio strategy that builds safety buffers while selectively expanding higher-yield business investments. In his report, Senior Research Fellow Kim Seok-ki stated that South Korea's lopsided reliance on household debt directly restrains productive finance. "There is a need to review a strategy that expands high-yield asset management while simultaneously increasing the proportion of safe assets," Kim said. 2026-06-20 12:01:30 -
Trump pressures Iran to complete peace deal SEOUL, June 20 (AJP) - United States President Donald Trump has issued a stark ultimatum to Tehran, warning that Washington could resume military actions if a final agreement is not reached within a strict 60-day window. Speaking at Joint Base Andrews on Friday (local time), Trump pressured Iran to solidify a recent memorandum of understanding into a permanent treaty or face severe consequences. The remarks signal a high-stakes push by Washington to conclude denuclearization talks following the recent halt in direct military conflict. For South Korea and major Asian economies, a failure to secure a permanent deal within these two months threatens to instantly trigger an energy crisis by choking off vital crude oil shipments through the Strait of Hormuz. Because Asian industrial powerhouses rely heavily on Middle Eastern oil imports, a collapse in negotiations could disrupt regional supply chains through severe maritime bottlenecks and soaring fuel costs. Economists warn that a prolonged blockade would heavily impact South Korea's export-reliant manufacturing sectors. The current fragile truce follows a broader U.S.-Iran war that disrupted global shipping lines earlier this year. The 60-day negotiation timeline officially began on Thursday after both sides signed an interim memorandum of understanding to temporarily halt hostilities. This makes the current period of relative calm a temporary window rather than a guaranteed long-term peace resolution for the region. During his address introducing the new Air Force One presidential aircraft, Trump made it clear that Washington is prepared to employ maximum pressure if the upcoming talks stall. If no deal is reached within 60 days beginning Thursday, "we will do things that won't make them happy," Trump said. He quickly tempered the warning by adding, "But I don't think it's going to get to that." Trump elaborated on the economic consequences of a diplomatic failure, noting that military escalation would immediately disrupt global energy corridors. He warned that a return to hostilities would mean oil will not flow out of the Strait of Hormuz very quickly. According to Trump, individuals who own billion-dollar ships do not want missiles flying over their vessels or maritime mines scattered throughout the waters. The urgency of the timeline is underscored by immediate diplomatic hurdles, as working-level talks scheduled in Switzerland on Friday were postponed without an official explanation. Multiple media reports indicated that Iran withdrew from the scheduled sessions in response to recent Israeli airstrikes targeting the Hezbollah militant group in Lebanon. Trump downplayed the regional friction, highlighting his recent discussions with Israeli leaders to secure a ceasefire with Hezbollah. In a phone interview with NBC News, Trump described the development as a positive step toward broader regional stability. "It's a positive," Trump said, adding that the ceasefire was "a little icing on the cake." The American president also expressed gratitude toward Beijing for its diplomatic stance during the underlying conflict. Trump stated that he had previously requested Chinese President Xi Jinping to refrain from intervening or engaging with Iran. The Chinese leader reportedly agreed to the request and maintained that position, a move that Trump described as a very good thing. The U.S. State Department announced that a new round of talks between Israel and Lebanon will be held in Washington next week to further stabilize the region. The text of the memorandum of understanding states that the 60-day negotiation period can only be extended through the mutual consent of both the United States and Iran. 2026-06-20 11:06:29 -
Montenegro seeks to adopt Kazakh digital governance model SEOUL, June 20 (AJP) - Montenegrin President Jakov Milatovic met with Kazakh President Kassym-Jomart Tokayev in Astana on June 19 to discuss adopting the digital transformation technologies of Kazakhstan to modernize his country's public administration. According to the Kazakhstan Ministry of Foreign Affairs, the talks mark a significant shift in international diplomacy as European nations increasingly seek administrative blueprints from emerging technological hubs outside the West. The summit provides a clear window into how advanced digital infrastructure is redefining global statecraft and institutional reform. This meeting underscores how smaller states are bypassing traditional bureaucratic evolution by directly importing established digital architecture from rising tech leaders. Digital transformation has become an essential mechanism for small and medium-sized countries aiming to optimize their state operation. Shifting public registries, tax collections, and corporate licensing online allows these governments to drastically lower operational overhead and limit institutional corruption without expanding physical infrastructure. Kazakhstan is currently executing a broad economic pivot to transition away from its historic reliance on natural resources toward high-tech sectors. The Central Asian nation, which has a population of 20.5 million people, has traditionally depended on its vast oil reserves and mineral extraction to drive domestic growth. The government in Astana has utilized recent constitutional referendums to reshape its state institutions and foster a modern regulatory environment. As part of this digital push, the country enacted a comprehensive AI law in January 2026 to accelerate local technical capabilities and secure foreign tech investments. Montenegro operates a significantly smaller, service-based economy supported by a population of approximately 630,000 people. The Balkan country relies heavily on international tourism, which generates roughly 30 percent of its gross domestic product, alongside smaller export operations in aluminum and energy. This heavy reliance on seasonal tourism and foreign visitors requires Montenegro to maintain a highly agile and transparent public administration. The government in Podgorica is looking to Kazakhstan because it requires a proven, scalable digital framework that can upgrade its national systems within a highly constrained budget. Beyond technological cooperation, the two leaders focused on expanding physical trade corridors and logistics networks connecting Central Asia with Europe. Milatovic and Tokayev highlighted the strategic value of the Trans-Caspian International Transport Route, a shipping corridor gaining prominence as an alternative global supply pipeline. Ministries from both nations are preparing binding legal agreements covering justice and broader economic cooperation to formalize the expanding bilateral relationship. Officials also signed memorandums of understanding between their respective chambers of commerce and national broadcasting companies during the talks. "These documents represent an important step towards creating more favorable conditions for business cooperation, increasing trade exchange and stronger connections between institutions, businessmen and citizens of Montenegro and Kazakhstan," the Montenegrin presidential office said in a statement. 2026-06-20 10:06:49 -
Lee pitches phased North Korean nuclear plan to Trump SEOUL, June 19 (AJP) - Aiming to lower immediate geopolitical pressure on Pyongyang and prevent Washington from enforcing a rigid, all-or-nothing diplomatic denuclearization campaign, President Lee Jae Myung proposed a flexible, phased diplomatic framework to United States President Donald Trump at the Group of Seven summit to manage the North Korean nuclear threat, the South Korean president said during a press briefing on Friday. The proposal comes as North Korea continues to produce fissile materials and enters the final development stages of an intercontinental ballistic missile. President Lee warned that conventional diplomatic containment is no longer viable because treating a nuclear-armed state like a standard non-nuclear adversary risks escalating regional hostility. By seeking a step-by-step approach that allows room for pauses and negotiations, South Korea is attempting to carve out a distinct security strategy separate from past Western models used in the Middle East. This calibrated effort to manage alliance friction coincides with a broader diplomatic push by Seoul to mobilize global arbiters like the Vatican and actively contest European economic barriers. During a press briefing at the presidential Blue House in central Seoul, following his return from a ten-day European tour, the South Korean leader revealed that Trump expressed regret over past international failures to stop Pyongyang before it realistically acquired nuclear weapons. When presented with the step-by-step initiative, Trump responded favorably to the alternative approach. "That could be one way," Trump said, according to the South Korean leader. "I will fully consider it." The first phase of the South Korean framework requires North Korea to cap its current nuclear material production, ban the export of fissile resources, and suspend all intercontinental ballistic missile testing. Lee emphasized to the US president that merely stopping these advancements would provide an immediate security benefit to the international community. Under the proposal, complete denuclearization remains a long-term goal that can be pursued only after mutual security assurances reduce regional threats. However, the South Korean president rejected a direct application of recent American diplomatic templates to the peninsula. "It is clear that it should not be done in the way the Middle East issue was resolved," the South Korean president said. The South Korean leader also sought broader global backing for regional peace during his eight-night tour, meeting with Pope Leo XIV at the Vatican on June 15. Lee Jae-myung requested the pontiff to visit North Korea and the Demilitarized Zone next year during the scheduled World Youth Day in Seoul to help build diplomatic momentum. According to the president, the pontiff responded that he would "actively consider and pursue" the itinerary to support peace initiatives on the Korean peninsula. Lee Jae-myung noted that the interaction reflected heightened international expectations for the global diplomatic role of South Korea. On the economic front, the president addressed trade tensions by relaying the firm opposition of South Korea to shifting European Union steel tariff policies that heavily cut into export quotas. He informed European officials that "such measures must not become a barrier to trade." 2026-06-19 15:44:20 -
Kookmin undergraduate publishes major robot vision paper SEOUL, June 19 (AJP) - Self-driving cars and robots must accurately understand their physical surroundings to operate safely, making the development of better spatial recognition systems a key focus in modern engineering. Addressing this need, an undergraduate student has led a research team to publish a new paper on artificial intelligence technology that helps machines see blocked objects, Kookmin University said Friday. Conventional visual systems for robots often fail to map an area correctly if a large object blocks the view of things behind it. The newly developed technology solves this problem by using mathematical probability models to calculate and fill in the missing spatial data. This allows the system to build a reliable three-dimensional map of an area regardless of visual obstructions, unlike traditional sensors that rely entirely on a clear and direct view. Kookmin University said that the paper detailing this technology has been accepted for presentation at the 2026 IEEE/RSJ International Conference on Intelligent Robots and Systems (IROS). The research was conducted at the university's Computer Intelligence Lab under the guidance of Professor Lee Seong-won from the School of Electrical Engineering. Undergraduate student Kim Jun-ho served as the lead author of the paper, taking charge of the research design, implementation, and experiments. This marks his second lead-author publication at a major robotics conference. He previously published a paper on visual geometry that was accepted at the IEEE International Conference on Robotics and Automation (ICRA) earlier in 2026. The university noted that having an undergraduate student publish consecutive lead-author papers at major international robotics conferences demonstrates its growing research capabilities in artificial intelligence. "I find it very meaningful that the research I participated in during my undergraduate studies has been recognized at IROS, following ICRA," Kim said. "Based on the experience of conducting the research from design to implementation and experimentation, I want to continue artificial intelligence research that can contribute to actual robots and autonomous driving systems in the future." The newly accepted paper will be formally presented when the IROS conference takes place in Pittsburgh in September 2026. 2026-06-19 14:39:32 -
Media giant JoongAng Ilbo defaults on 22 bln won SEOUL, June 19 (AJP) - South Korean newspaper JoongAng Ilbo has suffered an initial default on 22 billion won in commercial paper after failing to meet a creditor's early repayment demand due to a lack of funds. The financial failure marks a shocking development in the local media industry, as JoongAng Ilbo stands as one of South Korea's most iconic and influential major media groups. The default publicly exposes the severity of an escalating liquidity crisis threatening the publisher and its broader parent conglomerate. In a regulatory filing submitted to the Financial Supervisory Service on Friday, the company confirmed the default took place the previous day. The publisher stated that a creditor presented the paper for payment on Thursday, but the company could not clear the settlement amount due to insufficient bank deposits. The defaulted commercial paper is held by local brokerage Hanyang Securities. The original maturity dates for the debt were scheduled for December 7 this year for 12 billion won and March 30 next year for the remaining 10 billion won. Hanyang Securities moved to recover the funds early after an event of default clause was triggered by the media group's ongoing financial distress. These contractual provisions allow creditors to demand immediate repayment before the official maturity date if a borrower faces significant adverse conditions, such as a drop in credit ratings. JoongAng Ilbo released a public statement on Thursday addressing the demand, explaining that it is currently pushing for a corporate workout program with its main creditor bank and cannot grant special treatment to a single debt holder. "JoongAng Ilbo, which is pursuing a workout, must maintain equity among all creditors," the company said. "Therefore, it is difficult to make an early repayment before maturity to a specific creditor individually." 2026-06-19 11:21:59 -
Pyongyang calls Russo-NK treaty legal weapon SEOUL, June 19 (AJP) - North Korea on Friday marked the second anniversary of its mutual defense treaty with Russia, hailing the pact as an essential legal weapon to reshape the global order. The declaration solidifies a permanent military alignment that directly threatens the security architecture of South Korea. The formalization of the alliance comes as Pyongyang completely shuns Seoul, having recently redefined South Korea as a permanently hostile enemy state rather than a partner for reunification. By anchoring itself to a nuclear-armed superpower, North Korea is establishing a battle-hardened military axis aimed at isolating its southern neighbor. According to security reports, this defense pact has already translated into massive frontline cooperation, with North Korea funneling an estimated 20,000 troops to support Russia's war effort. The deployment has exacted a heavy toll on North Korean forces, resulting in thousands of casualties near the front lines. The Rodong Sinmun, the official newspaper of the ruling Workers' Party, reported that the treaty signed during the June 2024 summit between Kim Jong-un and Vladimir Putin provides a powerful legal framework. The state media outlet stated that the agreement guarantees the future of bilateral relations despite any international challenges or obstacles. The newspaper emphasized that the treaty serves as a reliable guarantee for a new international order amid an increasingly chaotic and unstable global political environment. It added that the North Korean government and its people maintain an immovable stance to permanently expand and develop their traditional friendship with Moscow. Pyongyang highlighted several milestones achieved under the pact over the past two years, including the resumption of passenger flights between Pyongyang and Moscow, the construction of a joint hospital, and the deployment of troops. The military assistance is rooted in Article 4 of the treaty, which mandates immediate military intervention if either nation is attacked. The United States-based monitoring group NK News, citing a Ukrainian intelligence report, recently estimated that approximately 14,000 North Korean soldiers remained stationed in the Kursk region of Russia early this year. The report estimated that cumulative North Korean casualties from the deployment have reached approximately 7,000 soldiers. 2026-06-19 11:11:47 -
Energy watchdog warns looming transit fees in Hormuz SEOUL, June 19 (AJP) - A temporary truce between the United States and Iran has reopened the Strait of Hormuz for 60 days, providing a critical lifeline to energy-dependent manufacturing hubs in South Korea and Southeast Asia. The International Energy Agency warned Thursday (local time) that despite the immediate relief, the crisis has permanently altered the global energy map. The unblocking of the maritime chokepoint eases a severe bottleneck for production-based Asian economies that rely heavily on the unhindered flow of Middle Eastern crude. While the resumption of shipping rescues industrial supply chains currently suffering from energy shortages, governments in Seoul and across the region face a ticking clock to secure alternative energy sources before the toll-free period expires. International Energy Agency (IEA)'s Executive Director Fatih Birol welcomed the unconditional reopening as a positive development during an event in Istanbul, but cautioned that the temporary nature of the agreement leaves global markets vulnerable. "The vase is broken," Birol said, noting that multiple countries are currently reviewing their energy policies. "Now all parties know that the Strait of Hormuz has been blocked once and can be blocked again." Under the terms of the memorandum of understanding released by Washington on Wednesday, the U.S. will immediately begin lifting its naval blockade on Iran. A full withdrawal is scheduled within 30 days. In return, Iran committed to clearing mines and other military hazards within the same timeframe to guarantee the free, two-way transit of commercial vessels. The agreement guarantees passage without transit fees for only 60 days, setting the stage for future geopolitical clashes over the flow of oil. Birol stated that the IEA will monitor how the negotiations conclude and coordinate new energy strategies with partner nations to prepare for the end of the grace period. Iranian officials have already signaled their intent to capitalize on the strait once the window closes, casting doubt on whether the situation will ease further or deteriorate. Speaking on state television, Iranian Parliament Speaker Mohammad Baqer Qalibaf said the waterway will not return to its pre-war status. "After 60 days, we will naturally collect fees for the services we provide," Qalibaf said. 2026-06-19 10:57:24 -
Researchers develop unified database to reduce AI errors SEOUL, June 19 (AJP) - Artificial intelligence agents often struggle with generating false information, a major obstacle for corporate adoption. To solve this, researchers have developed next-generation database technology that simultaneously understands documents, data, and their relationships to improve answer accuracy and processing speed. The Korea Advanced Institute of Science and Technology said Friday. Current artificial intelligence retrieval systems typically rely on vector searches to find relevant text, which limits their ability to handle complex queries requiring an understanding of entity relationships or structured conditions. The newly developed system, AkasicDB, integrates vector, graph, and relational databases into a single engine. This allows the system to process the meaning of texts, connections between entities, and structured data simultaneously, rather than relying on multiple separate systems that cause response delays. The Korea Advanced Institute of Science and Technology (KAIST) said that the technology was developed by a research team led by Professor Kim Min-soo at the KAIST School of Computing, in collaboration with the faculty-founded startup Graphy. By combining these database functions, the research team created a new retrieval-augmented generation technique named Omni RAG. Testing showed that this integrated approach reduced the tendency of artificial intelligence to create false information, improving answer accuracy by up to 78 percent compared to existing models. The system also minimized unnecessary data movement, cutting the time required to process complex search queries from 21.3 seconds to under one second, resulting in a 20-fold increase in performance. Corporate data is often scattered across unstructured documents, knowledge graphs, and traditional data tables. Previously, finding specific information required building separate databases and manually combining the results at the application layer, which caused significant management complexity. AkasicDB simplifies this by using a unified architecture that allows users to perform composite queries through a single command structure. "A data infrastructure that can integrate and process vector, graph, and relational data in a single system is essential for artificial intelligence agents to accurately understand and utilize vast amounts of corporate data," Professor Kim Min-soo said. "AkasicDB is a next-generation database technology for the artificial intelligence agent era, and we expect it to be used as a core data infrastructure in fields requiring high reliability, such as defense, manufacturing, finance, law, and science and technology." The research was led by KAIST doctoral student Lee Geon-ho as the first author, alongside co-authors Park Jung-ho and Han Dong-hyung from Graphy. The findings were presented as a demonstration paper at the ACM SIGMOD 2026 conference on June 2, 2026. (Reference Information) Journal/Source: ACM SIGMOD 2026 Title: AkasicDB: Demonstrating Omni RAG with a Unified Vector-Graph-Relational DBMS Link/DOI: https://doi.org/10.1145/3788853.3801609 2026-06-19 10:44:04