Journalist
Lee Hugh
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KORAIL Moves Toward Tender to Replace Aging KTX-I Fleet KORAIL is moving up the timeline to replace KTX trains that have been in service for more than 20 years, with bidding procedures expected to begin as early as this summer. The project is expected to total about 5 trillion won, raising the stakes for rail manufacturers. According to the rail industry on Thursday, KORAIL is working through administrative steps to launch the KTX-I replacement project. After finalizing details such as the tender method, it plans to post the procurement notice within this year. The project would replace 46 KTX-I trainsets introduced in 2004, totaling 920 cars. Although their expected service life runs to 2033, the company needs to move this year because building and testing new trains typically takes more than seven years. Industry officials expect the procurement notice to come around July, when the second half of the year begins. They say that from the tender notice through technical evaluation and contract signing typically takes at least four months, making that timing suitable if the government aims to finalize a contract by year’s end. A KORAIL official said the company has begun detailed administrative work needed for the replacement but that the exact tender schedule has not been set. The official added that it could proceed “around summer, when the weather gets warmer.” With the KTX-I replacement expected to exceed 5 trillion won, companies are stepping up competition. The race is widely expected to pit Hyundai Rotem, emphasizing high-speed rail technology, against Woojin Industrial Systems, which is highlighting price competitiveness and overseas consortium partners. The two have faced off repeatedly since a 2023 re-bid for the KTX-Eum (EMU-320). Hyundai Rotem has been positioning itself with next-generation high-speed rail technology. In December, the Ministry of Land, Infrastructure and Transport said it completed development of core technologies for the EMU-370, a next-generation high-speed train with a commercial operating speed of 370 kph and a design top speed of 407 kph, through a national R&D program. Last month, Hyundai Rotem also shipped early the first trainset of its second-generation EMU-320, designed for 320 kph service. Woojin Industrial Systems, which began as a Hyundai Rotem partner, has built expertise over more than 50 years producing and supplying electrical components for rail vehicles. Backed by contracts in Seoul’s urban rail projects, it has sought to expand into high-speed rail. In 2023, it teamed with Spanish train maker Talgo and entered the 760 billion won KTX-Eum bid on its own, but lost after falling behind on technical points, scoring 79.30. It later tried again in a 1 trillion won SRT project for distributed-power high-speed trains (EMU-320) ordered by SR, forming a consortium with Talgo. The bid failed after it scored 0.8 points below the 85-point threshold required to pass the technical evaluation. Industry watchers say Woojin has since strengthened its capabilities, making this year’s tender a key test. “The KTX replacement is not just a vehicle purchase; it is a project that will shape Korea’s high-speed rail competitiveness for the next 30 years,” a rail industry official said. “Depending on the outcome, significant changes are expected in the structure of the domestic rail industry.” 2026-02-13 18:03:00 -
Actress Hwang Jung-eum’s Itaewon home hit with court-ordered provisional seizure Actress Hwang Jung-eum’s former agency, Y.One Entertainment, has sought a provisional seizure of a luxury single-family home she owns in Itaewon. In a statement released on the 13th, Y.One said it “respects the court’s decision” regarding the ongoing legal process. It added that it is difficult to confirm or comment on specifics at this stage because doing so could affect judicial proceedings, and said it would continue to respond in good faith in line with the process. Earlier on the 13th, SPOTV News reported that Y.One recently applied for a provisional seizure of the land and building of Hwang’s Itaewon home. According to the report, the Seoul Central District Court accepted the request on the 10th, with the claimed amount reported at 282 million won. Hwang bought the home in 2020 for 4.6 billion won. Hwang was indicted without detention last year on allegations of embezzling about 4.3 billion won in company funds, and in September she was sentenced to two years in prison, suspended for four years. She also faced controversy after it was revealed that she set up a one-person agency, “Hunminjeongeum Enter,” in 2022 and did not register it as a popular culture and arts planning business for four years.* This article has been translated by AI. 2026-02-13 17:18:00 -
SK chair meets US big tech leaders for HMB4 pitch SEOUL, February 13 (AJP) -SK Group Chairman Chey Tae-won commanding the world's most-sought memory chip unit held a string of meetings with big-tech leaders in the United States to strengthen leadership in AI chip supply chain amid tension with Samsung Electronics over HBM4 supply. His business meetings included all the big tech names Nvidia, Broadcom, Microsoft, Meta and Google engaged in AI chip accelerators, as he pushed to expand partnerships centered on high-bandwidth memory (HBM) and next-generation AI infrastructure. Chey first met Jensen Huang, chief executive of Nvidia, in Santa Clara on Feb. 5 (local time). The two exchanged views on global AI industry trends, demand for advanced semiconductors and cooperation on next-generation GPUs and HBM. Ahead of the meeting, Chey reviewed SK hynix’s supply strategy and shifts in the AI ecosystem, the company said. On the following day, Chey visited Broadcom’s headquarters in San Jose for talks with CEO Hock Tan. Their discussions focused on the medium- to long-term outlook for the memory market, supply strategies and investment cooperation. The two sides also explored ways to reflect SK hynix’s HBM technology in Broadcom products from the design stage, as Broadcom develops customized AI accelerators and networking solutions. On Feb. 10, Chey met Satya Nadella in Seattle to discuss expanding cooperation beyond semiconductors to include AI data centers and cloud-based solutions, reflecting SK Group’s broader push into AI infrastructure and services. The same day, Chey held talks with Meta CEO Mark Zuckerberg in San Jose on long-term memory supply and next-generation AI infrastructure. SK hynix shared its HBM strategy optimized for Meta’s in-house AI accelerator project, MTIA, and discussed early alignment of technology road maps for products beyond HBM4 and HBM4E. On the final day of his trip, Feb. 11, Chey met Sundar Pichai at Google’s campus in San Jose. The two agreed that securing memory supply has become a key bottleneck in expanding AI data centers and that stabilizing medium- to long-term supply is critical, as production capacity cannot be expanded quickly. They also discussed cooperation on custom HBM and future HBM4-based chips aligned with Google’s AI roadmap. SK hynix said the meetings underscore its efforts to deepen partnerships with global tech companies based on its AI memory leadership. The company aims to expand HBM supply while building cooperation that spans next-generation chips, data centers and cloud infrastructure. 2026-02-13 16:42:43 -
Olympic Gold Medalist Choi Ga-on to Receive Omega Watch Worth 9.5 Million Won Choi Ga-on (Sehwa High School), the first gold medalist for South Korea at the Milan-Cortina 2026 Winter Olympics, is set to receive an Omega watch valued at 9.5 million won. Competing Feb. 13 (Korea time) at Livigno Snow Park in Italy, Choi scored 90.25 to win the women’s snowboard halfpipe final, beating Chloe Kim of the United States, who scored 88.00. The victory made Choi South Korea’s first gold medalist of these Games and delivered the first Winter Olympic gold medal in Korean skiing. Omega, the Olympics’ official timekeeper, said on Jan. 26 it would present an Olympic Edition watch to the first South Korean athlete to win an individual gold medal at Milan-Cortina. That recipient will be Choi. The gift is the “Speedmaster 38mm Olympic Edition” timepiece. It features a “finger trace” pattern inspired by the Milan-Cortina 2026 emblem, a sub-dial finish evoking ski slopes, and a caseback engraved with a Milan-Cortina 2026 medallion, Omega said. Omega said the award is meant to honor “the pinnacle of the Olympic spirit — excellence, precision and dedication to sport — and to celebrate the one athlete who reached the top first.” Omega began awarding Olympic Edition watches at the 2012 London Olympics. Jin Jong-oh received one after winning South Korea’s first gold medal there in the 10-meter air pistol, two days after the opening ceremony. At the 2022 Beijing Winter Olympics, short track speed skaters Hwang Dae-heon and Choi Min-jeong received the watches after winning the first men’s and women’s gold medals for South Korea, respectively.* This article has been translated by AI. 2026-02-13 16:39:00 -
Park Bo-gum Shares Milan Photos During Milano Cortina 2026 Winter Olympics Actor Park Bo-gum posted photos from Milan, where the 2026 Winter Olympics are being held. Park Bo-gum shared several images on social media on Feb. 13 with the caption, “IT’s Milano – IT’s My Vibe.” He also added the hashtag “Milano Cortina 2026.” In the photos, Park wears casual outfits and looks into the camera. Online commenters responded with messages such as “So lovely,” “Seeing you happy makes me happy,” and “Park Bo-gum, you’re so cute.” Park is appearing on the tvN variety show “Bogum Magical.”* This article has been translated by AI. 2026-02-13 16:36:00 -
KOSPI least hit by broad foreigners' regional pullout ahead of long holiday SEOUL, February 13 (AJP) -South Korean shares ended slightly lower Thursday after touching fresh record highs, the least affected in the region by broad foreign withdrawals from East Asian markets ahead of a lengthy Lunar New Year break next week. The benchmark KOSPI fell 0.28 percent to close at 5,507.01, snapping a four-day winning streak. The index climbed as high as 5,583.74 during the session, extending its record, before retreating in afternoon trading. Market flows remained volatile. Foreign investors sold a net 1.20 trillion won worth of shares, while individual and institutional investors posted modest net buying. Heavyweight stocks were mixed. Samsung Electronics gained 1.46 percent to 181,200 won, breaking above the 180,000-won level for the first time. SK hynix slipped 0.9 percent after briefly reclaiming the 900,000-won mark. Technology and battery-related shares underperformed, with LG Energy Solution and secondary battery stocks posting sharp losses, while selected industrial names showed relative resilience. On the secondary board, the KOSDAQ dropped 1.77 percent to 1,106.08, pressured by broad-based selling from foreign and institutional investors. In currency trading, the won weakened, with the dollar rising 3.30 won to 1,445.80, adding to cautious market sentiment. Postelection euphoria faded in Tokyo, with Japan’s Nikkei 225 losing 1.21 percent to 56,941.97. China’s Shanghai Composite slid 1.2 percent to 4,084.55, while Hong Kong’s Hang Seng Index dropped 1.85 percent to 26,532.42. Looking ahead, Tokyo will operate as usual next week, while Seoul will reopen on Thursday, Hong Kong on Friday and Shanghai on Feb. 24 after the Lunar New Year holidays. 2026-02-13 16:11:00 -
Chungju’s ‘ChungTV’ YouTube channel dips below 970,000 subscribers after Kim Seon-tae signals resignation News that 'Chungju Man' Kim Seon-tae has submitted a resignation letter has been followed by a decline in subscribers to Chungju City's YouTube channel, 'ChungTV.' As of 4 p.m. on the 13th, ChungTV had about 968,000 subscribers. Before the news, the channel had topped about 970,000. The decline continued after Kim, who has led ChungTV, posted a video titled 'Final Greeting' that day. In the video, Kim said, "After 10 years in public service and seven years living as Chungju Man, I want to take time to say goodbye." He added, "The reason someone as lacking as me was lucky enough to have a small success was because of your support," and thanked Chungju residents who cheered him on and his colleagues at Chungju City Hall for their consideration. "The seven years I spent with you were the happiest time of my life," he said. "Please continue to love Chungju City. This has been Chungju Man." Online commenters responded with messages such as, "Without Kim Seon-tae, I'm not curious about Chungju City news," "You made me laugh a lot," and "He's leaving while people are still applauding." Kim drew attention in 2023 after being promoted to a sixth-grade official seven years after entering public service, based on subscriber growth for the channel using low-budget, offbeat content. It is known to take about 15 years on average to be promoted to sixth grade after starting as a ninth-grade civil servant.* This article has been translated by AI. 2026-02-13 16:06:48 -
Popular bakery chain slapped with over 800 million won in fines for labor violations SEOUL, February 13 (AJP) - LBM, the operator of popular bakery chain London Bagel Museum, was slapped with a fine of 810 million Korean won (about US$580,000) over widespread labor law violations, the Ministry of Employment and Labor said on Friday. The bakery was found to have committed multiple violations of labor laws and relevant regulations, including 564 million won in unpaid wages for overtime and night-time and holiday shifts, and was ordered to take corrective action. Revelations emerged in July last year after a worker in their 20s in Incheon was found dead. The family sought compensation, alleging the worker faced heavy workloads of up to 80 hours a week while preparing to open the bakery's new store and handling operations. The family later withdrew after reaching a settlement with London Bagel Museum, but the ministry conducted a three-month investigation from late October, raiding all branches and interviewing employees to check compliance with labor laws and identify any violations. The investigation uncovered some 61 violations including workplace harassment, unpaid overtime, pay-related irregularities, workplace safety issues, restrictions on annual leave and rest time, and other breaches. Under relevant regulations in South Korea, companies with more than 50 employees must hire a person to take care of workplace safety and also provide medical checkups, but the company failed to comply. Other violations included humiliating practices such as demanding that employees write formal apologies for workplace mistakes and read them aloud to coworkers, as well as deducting pay for arriving late in the morning. The ministry requested that the company submit a plan with corrective measures and vowed to oversee its implementation. Labor Minister Kim Young-hoon said, "I feel a heavy sense of responsibility that the company's rapid growth came at the expense of long hours and unpaid labor by young workers." He added that the ministry will expand inspections to ensure companies do not focus solely on growth while failing to protect workers' basic rights. 2026-02-13 16:03:35 -
Bonus polarization deepens as Lunar New Year exposes divide in Korean Inc. SEOUL, February 13 (AJP) - As millions of South Korean breadwinners return home for the Lunar New Year, many do so with thinner envelopes and tighter wallets. This year’s Seollal holiday arrives amid an uncomfortable contrast: a red-hot stock market and record-breaking bonus payouts at a handful of corporate champions, even as a growing share of companies scale back seasonal bonuses. According to a survey by the Korea Enterprises Federation, 58.7 percent of companies paid Seollal bonuses this year, down 2.8 percentage points from 61.5 percent last year. The gap is particularly stark by company size. Among enterprises with more than 300 employees, 71.1 percent provided bonuses, compared with 57.3 percent of smaller firms. For workers at small and mid-sized businesses, the strain is palpable. The subdued holiday mood stands in sharp contrast to bonus windfalls at export powerhouses riding boom cycles in semiconductors and defense. Hanwha Ocean made headlines by granting a uniform 400 percent performance bonus based on monthly base salary to both in-house and subcontractor workers — a first for a major Korean shipbuilder. The decision reflects the shipbuilding sector’s resurgence and acknowledges that roughly 60 percent of production processes are handled by subcontractors. Previously, in-house employees received 150 percent bonuses in 2024, while partner workers received 75 percent. The equal payout this year was framed as an effort to strengthen labor-management harmony during a boom period. Kakao followed with bonuses of up to 9 percent of annual salary, slightly higher than last year’s 8 percent. The company posted record 2025 results, reporting 8.99 trillion won in revenue and 732 billion won in operating profit — a 48 percent increase — driven by growth of its KakaoTalk platform. Hanwha Aerospace offered bonuses of up to 700 percent of monthly base pay, varying by division, after three consecutive years of record profits. Its Land Systems division led with 725 percent, while other units exceeded 500 percent. The company reported 2025 revenue of 26.6 trillion won and operating profit of 3 trillion won. SK hynix Reshapes the Bonus Benchmark But it was SK hynix that reset expectations across corporate Korea. The chipmaker announced an unprecedented 2,964 percent performance bonus based on base salary under its excess profit-sharing system. For an employee earning 100 million won annually, that translates into roughly 148 million won in bonus pay alone. The payout follows a 2025 labor-management agreement allocating 10 percent of operating profit to performance sharing, removing the previous 1,000 percent cap. Eighty percent is paid upfront, with the remaining 20 percent distributed over two years. The move simplified a previously complex formula and linked bonuses directly to disclosed profits. With operating margins approaching 50 percent and 2025 revenue reaching 97.15 trillion won, SK hynix has emerged as Korea’s most profitable company — and its transparent profit-sharing model has intensified scrutiny elsewhere. The contrast has fueled unease at rival Samsung Electronics, long considered the gold standard for compensation. Samsung continues to base bonuses on Economic Value Added (EVA), a metric employees often criticize as opaque. Depreciation and capital cost adjustments can reduce payouts even in strong sales years, creating what some workers describe as a “black box.” Frustration has translated into organization. The Samsung Electronics branch of the Super-Large Company Union surpassed 63,000 members by late January 2026, up from 6,300 just four months earlier. Crossing the claimed majority threshold grants exclusive bargaining rights, setting the stage for potentially contentious wage negotiations. The widening compensation gap risks deepening structural imbalances across the labor market. While major exporters distribute record incentives, small and mid-sized enterprises struggle to compete. McKinsey survey data show 49 percent of Korean workers prioritize total compensation when choosing jobs. The average monthly salary at large firms stands at 5.93 million won — nearly double the 2.98 million won average at smaller companies. As talent gravitates toward high-paying conglomerates, smaller firms face what industry groups describe as a “recruitment black hole.” The Lunar New Year has traditionally been a time for shared prosperity and symbolic generosity. This year, however, bonus polarization underscores a broader economic divide — one that risks turning a season of reunion into a quiet reminder of inequality. 2026-02-13 15:57:36 -
BTS Comeback D-36: War with scalping begins, but victory may not be easy SEOUL, February 13 (AJP) - South Korea’s ticket scalping market has expanded more than fortyfold over the past five years, drawing heightened scrutiny ahead of BTS’s highly anticipated comeback concert and domestic tour. “BTS The Comeback Live: ARIRANG,” scheduled for March 21 at Gwanghwamun Square in Seoul, will offer around 15,000 to 17,000 seats. General reservations open at 8 p.m. on February 23 through NOL Ticket. Of the total, 2,000 standing spots will be raffled to ARMY members who pre-ordered the group’s new album. The concert is free. But free events often attract even more aggressive scalping. At BTS’s 2022 Busan Expo concert, VIP tickets were resold for up to 4 million won. Illegal transactions spread through social media and private chat rooms, with scalpers using automated programs and account transfers to bypass ticketing controls. Regular tour shows are scheduled in Goyang on April 9, 11 and 12, and in Busan on June 12 and 13. Scalping Cases Surge According to the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency, suspected online scalping cases surged from 6,237 in 2020 to 184,933 in 2024, reaching 259,334 as of August 2025. About 75 percent of cases in 2024 were linked to music concerts. In response, the country’s largest ticket resale platform will cap resale prices at 1 million won starting January 1, 2026, automatically blocking listings above that level. The amendments to the Public Performance Act and the National Sports Promotion Act, passed late last month, ban all illegal ticket resales, allow authorities to confiscate profits, and impose fines of up to 50 times the resale amount. But they go into full effect late July. Previously, scalping was illegal only when macro software was used, leaving most individual resales on social media, online forums and private marketplaces largely unregulated. The revised law aims to close that loophole. Tax authorities have joined the crackdown. Last November, they launched their first large-scale investigation into high-volume scalpers targeting K-pop concerts and major sports events. The 17 individuals identified included teachers, public-sector employees and business owners. The total volume of tickets distributed through illegal channels was estimated at more than 20 billion won. Regardless of the law, the government plans to be strict against exploitative ticket sales of BTS concerts. Culture Minister Chae Hwi-young warned Thursday of a strong government crackdown, saying illegal resales must not be allowed to spoil BTS’s return. The economic impact of BTS concerts extends well beyond ticket sales. Accommodation prices have surged during major tour periods, raising broader inflation concerns. According to a joint investigation by the Korea Fair Trade Commission and the Korea Consumer Agency, 135 accommodations in Busan were surveyed during the June concert period. The average nightly rate for the concert weekend of June 13–14 reached 433,999 won — 2.4 times higher than surrounding weeks. Motel rates averaged 325,801 won, up 3.3 times, while hotel rates averaged 631,546 won, a 2.9-fold increase. Pension rates rose more modestly to 296,437 won, about 1.2 times the usual level. At some properties, price hikes were far steeper. One hotel room normally priced at 100,000 won was listed for 750,000 won. Thirteen properties raised rates by more than five times, with some rooms jumping from the 300,000-won range to as high as 1.8 million won. Despite regulatory efforts, containing price inflation linked to major events remains difficult when demand reaches fever pitch. For many fans, however, cost is secondary. “Will I pay many times more to see BTS? You bet,” said one Seoul-based fan. 2026-02-13 15:52:18