Journalist

Lee Hugh
  • K Bank Cuts IPO Price 20% for Third Listing Attempt
    K Bank Cuts IPO Price 20% for Third Listing Attempt K Bank is betting on a more conservative price in its third initial public offering attempt, lowering the offering price from earlier plans as it seeks to complete a listing. With the IPO priced cautiously and peer KakaoBank’s share price improving, attention is on whether K Bank can succeed this time. K Bank said in a regulatory filing Thursday that it set the final offering price at 8,300 won, the bottom of its indicated range. A total of 2,007 institutions took part in the book-building process, applying for about 6.55 billion shares, for a subscription ratio of about 199-to-1. Total orders were valued at about 58 trillion won. The price is about 20% lower than in its previous IPO attempt, reflecting market demand. K Bank set the price range at 8,300 won to 9,500 won, valuing the company more conservatively. The bank previously withdrew two listing attempts, citing weak demand and market volatility. For this third try, K Bank also sharply reduced the deal size. It cut the number of shares offered from 82 million to about 60 million, lowering the expected market capitalization from about 4 trillion won to around 3 trillion won. The move is aimed at reducing the burden on investors and improving the chances of a successful offering. Market conditions have also improved. KakaoBank shares, cited as a comparable company, have risen about 30% since K Bank filed its securities registration statement, closing the previous day at 28,050 won. Investor sentiment toward internet-only banks has also been recovering. With the price set, K Bank will move into the main offering process. It plans to take retail subscriptions on Feb. 20 and 23 and list on the Korea Exchange’s main board on March 5. Choi Woo Hyung, K Bank’s CEO, said, “I thank investors who sympathized with K Bank’s vision,” adding, “Even after listing, we will become a bank that grows together with both customers and shareholders.”* This article has been translated by AI. 2026-02-12 17:18:00
  • Southern Seoul bathed under Lotte Luminarie
    Southern Seoul bathed under Lotte Luminarie SEOUL, February 12 (AJP) - The “2026 Lotte Luminarie: Wish Shines On” festival is underway at World Park Plaza of Lotte World Tower in Songpa-gu, southeastern Seoul, bathing the surrounding area in the glow of approximately 270,000 lights. Held under the theme “Wish Shines On,” this year’s event centers on a 17-meter-high illuminated dome, accompanied by a newly installed cross-shaped tunnel measuring 63 meters wide and 25 meters long. The design expands on last year’s circular corridor, offering visitors a more layered and immersive visual experience. Four 16-meter-tall towers rise from each corner of the plaza, while the tunnel entrance has been shaped into a grand archway, enhancing the sense of arrival. Inspired by traditional Gothic architecture, the structures are intricately outlined with light, creating a cathedral-like atmosphere beneath the night sky. Visitors walk through a network of glowing corridors and open plazas, where shifting patterns of light transform the urban landscape into a temporary winter spectacle — part festival, part architectural installation. The Luminarie will run through March 8. 2026-02-12 17:11:17
  • Samsung, CJ, Naver and others ramp up Team Korea marketing for 2026 Milan-Cortina Olympics
    Samsung, CJ, Naver and others ramp up Team Korea marketing for 2026 Milan-Cortina Olympics The Korean Sport & Olympic Committee’s official sponsors are rolling out marketing campaigns to back South Korea’s Olympic team, known as Team Korea, for the 2026 Milan-Cortina Winter Olympics. According to the committee on Wednesday, Samsung Electronics, an International Olympic Committee partner, used the Galaxy S25 Ultra to shoot official profile photos of Team Korea athletes competing at the Games. The photo and video shoots highlighted each athlete and sport. Beer sponsor OB Beer’s Cass brand is supporting Team Korea through its “Our unforgettable story” campaign. Cass provided cheer gifts to athletes and is serving the Cass Fresh family as the official dinner beer at Korea House in Milan, while running an on-site booth for visitors and overseas fans. In South Korea, it is also promoting social media sharing of medal moments and running Olympics-linked promotions at major venues nationwide. Official partners are also active. CJ is the title sponsor of Korea House in Milan, introducing Korean culture to visitors, and is supplying food to a meal-support center operating at the Olympic site to help athletes maintain their condition with Korean dishes. Ahead of the Games, CJ held “Bibigo Day” events at the Taereung and Jincheon national training centers. Olive Young produced a travel “K-beauty kit” and provided it to all athletes who attended the team’s send-off ceremony. Naver, the Milan-Cortina Winter Olympics’ new-media broadcaster, is streaming all events on Naver Sports and Chzzk and is running a special Olympics page. The page posts photos and videos of all Team Korea athletes to help the public follow their stories and support them. Woori Financial Group is delivering support messages through TV ads, social media and outdoor advertising. Singer IU, the group’s advertising model, narrates a commercial titled “South Korea’s national team financial group,” showing people cheering for national team athletes in everyday settings. Eight affiliates are also running a customer-participation event during the Olympics to boost public interest in the team. Dunamu (Upbit) is airing a TV ad with its official model, figure skater Cha Jun-hwan, supporting all 71 Team Korea athletes. It also linked athlete support with winter-sports development through a bitcoin donation and is running an in-app Team Korea quiz event. Best Sleep, the official partner in the bed-and-mattress category, supplied mattresses, pillows and bedding to Team Korea’s accommodations in Milan to help athletes rest in an unfamiliar environment. It also held events providing bedding to athletes at the Jincheon, Pyeongchang and Taereung national training centers. SK Telecom introduced digital-based Team Korea support content, including V Coloring. Paris Baguette produced Team Korea support posters and photo cards and displayed them at stores nationwide. KOC President Ryu Seung-min said the campaigns are Olympic marketing activities carried out “in an official capacity” by companies that have signed sponsorship agreements with the committee. “Through this cooperation, we were able to responsibly deliver Team Korea’s challenge and the values of the Olympics to the public,” Ryu said. He added that the committee will continue working with sponsors to create a fair, healthy Olympic marketing environment and to support South Korea’s athletes so they can perform at their best on the international stage.* This article has been translated by AI. 2026-02-12 17:00:36
  • Wolves forward Hwang Hee-chan denies report alleging misuse of luxury cars
    Wolves forward Hwang Hee-chan denies report alleging misuse of luxury cars Wolverhampton Wanderers forward Hwang Hee-chan is facing allegations in South Korea over what has been described as a “supercar” dispute with a chauffeur-service company. Hwang’s side immediately denied the claims, but the controversy has continued to spread. Dispatch reported on Wednesday that Hwang’s side received 22 vehicles — including Lamborghinis and Ferraris — from a protocol-service company called Bahana (UCK), and allegedly made unreasonable demands during the arrangement. The report said Hwang left an approximately 800 million won Ferrari Purosangue in the middle of Yeongdong Bridge in May last year and walked away, and that he did not take responsibility despite more than 10 accidents. The report also said Hwang’s sister, Hwang Hee Jung — CEO of his agency, BtheHC — also received vehicles and services from Bahana. Bahana said it provided the services because it had been promised a management role, and argued the current legal dispute would not have happened if Hwang had fulfilled the obligations of the “principal” listed in the contract. As an example, Bahana cited a promotional clause, saying Hwang did not tag the company on the relevant social media channel and only added a thumbs-up at Bahana’s request. BtheHC rejected the report as false. The agency said it provided the outlet with materials to rebut the claims, but that “one-sided” coverage was published. It said it never entrusted Bahana with overall management, and accused the company of opening a social media account and using photos of Hwang using vehicles without permission for promotion, including cases of using his likeness without consent. BtheHC said it would take legal action over alleged fraud and deception, defamation by spreading false information, and violations of portrait and name rights. With both sides sharply divided and each signaling legal complaints, the dispute is expected to continue. The controversy comes as Hwang is also dealing with injury issues. He was substituted against Chelsea on Saturday with calf pain. Wolverhampton coach Rob Edwards said Tuesday, “With a calf injury, it will take a few weeks” for him to return, adding it would “probably” be weeks. Hwang previously injured his calf during national team duty in October last year and missed time. Calf injuries are widely seen as prone to recurrence, and Hwang has now reached age 30, prompting concerns about durability. Wolverhampton’s results have also been poor. The club drew 0-0 with Nottingham Forest on Wednesday in the English Premier League’s 26th round, extending its winless run to six matches. Wolverhampton have just nine points (one win, six draws, 19 losses) and sit last in the league. Burnley, in 19th, have 18 points (four wins, six draws, 16 losses). With injuries, the team’s struggles and the latest allegations, Hwang faces mounting pressure. The truth of the claims will be decided in court, but the dispute could still affect his performances as he tries to return and reestablish himself. 2026-02-12 16:48:00
  • To keep US troops, Seoul may have too look beyond NK in defense axis
    To keep US troops, Seoul may have too look beyond NK in defense axis SEOUL, February 12 (AJP) - The U.S. National Defense Strategy (NDS), released last month one year into the Trump administration, delivers a message that is clear — take “primary responsibility” for own defense and expect “critical but limited” U.S. support. For South Korea, which has relied on the U.S. deterrence umbrella against North Korea for more than 70 years, the language feels unsettling. But beneath the rhetoric lies a deeper structural shift: Washington’s strategic focus is no longer centered primarily on Pyongyang. It is centered on Beijing. That shift may ultimately determine the future shape — and relevance — of U.S. Forces Korea (USFK). Speaking at a recent forum in Washington, Kelly Grieco of the Stimson Center said that under a second Trump administration, “we are likely to see some form of effort to reduce troop levels or scale back the U.S. military presence on the Korean Peninsula.” The 2026 NDS describes South Korea and Europe as “model allies.” Yet they are also the regions where Washington has most openly explored troop reductions — a paradox reflecting President Donald Trump’s transactional view of alliances. Trump has repeatedly argued that wealthy allies benefiting from U.S. security guarantees should bear greater financial burdens. During his first term, troop levels in South Korea became leverage in cost-sharing negotiations. Despite strong words, a sweeping withdrawal remains unlikely. The fiscal 2026 National Defense Authorization Act prohibits reducing U.S. troop levels in South Korea below 28,500 without strict national security conditions and prior consultation with allies. Strategically, the peninsula remains one of Washington’s most valuable forward positions in Northeast Asia. “The U.S. currently lacks a better strategic location than the Korean Peninsula for deterring China and, to some extent, Russia,” said Koh Yu-hwan, professor at Dongguk University. Even if heavy Army units were trimmed — as some analysts suggest — air and naval assets could be strengthened, aligning with a broader U.S. shift toward more flexible and mobile force structures. In other words, the debate is not about departure. It is about mission. For decades, Seoul’s defense narrative has been built almost entirely around deterring North Korea. That framework was logical in an era when Pyongyang represented the primary threat and Washington’s Asia strategy was narrower in scope. But today, U.S. military planning is dominated by competition with China. In Pentagon documents and congressional hearings, Beijing — not Pyongyang — is identified as the pacing challenge. This creates a strategic question for Seoul: If USFK is viewed in Washington purely as a North Korea deterrent force, does it risk becoming less central to America’s long-term priorities? To remain indispensable, South Korea may need to broaden its defense axis — not by abandoning deterrence against the North, but by positioning itself more clearly within the wider Indo-Pacific security architecture. That means acknowledging that the Korean Peninsula is not only a frontline against North Korea, but also a critical geographic anchor in managing regional stability vis-à-vis China. The timing is significant. Seoul and Washington are working toward 2028 as the target year for transferring wartime operational control (OPCON) to a South Korean commander. Under the envisioned structure, a South Korean four-star general would lead the future Combined Forces Command, with a U.S. general serving as deputy. Although OPCON transfer is formally separate from troop reduction debates, it could create political and strategic space for recalibrating USFK’s role. As Washington adjusts its global force posture — including modest recalibrations in Europe — the emphasis appears to be on efficiency and strategic alignment rather than large-scale retrenchment. For South Korea, that suggests the future of USFK will depend less on fixed troop numbers and more on mission relevance. 2026-02-12 16:42:28
  • Canada’s Piper Gilles, Paul Poirier win Olympic ice dance bronze after cancer battle
    Canada’s Piper Gilles, Paul Poirier win Olympic ice dance bronze after cancer battle Canadian ice dancer Piper Gilles, who faced a possible end to her career while being treated for ovarian cancer, reached the Olympic podium with her 15-year partner, Paul Poirier. According to AFP, after winning bronze in figure skating ice dance at the 2026 Milan-Cortina Winter Olympics, the pair said, “If you believe in yourself and chase your dreams, anything can happen.” Skating to the Van Gogh tribute song “Vincent” in the free dance at the Milan Ice Skating Arena, Gilles and Poirier finished third with 217.74 points. AFP reported the duo, wearing blue costumes reminiscent of Van Gogh’s “Irises,” drew loud cheers for a polished performance. Despite past world championship success, Gilles and Poirier had not previously won an Olympic medal. “When I was diagnosed (with ovarian cancer) three years ago, I couldn’t imagine a moment like this,” Gilles said. “I hope this medal can give hope to people going through difficult times.” France’s Guillaume Cizeron and Laurence Fournier Beaudry won gold with 225.82 points. Americans Evan Bates and Madison Chock took silver with 224.39.* This article has been translated by AI. 2026-02-12 16:39:00
  • Samsung Electronics starts mass shipments of HBM4, targets next-gen AI demand
    Samsung Electronics starts mass shipments of HBM4, targets next-gen AI demand SEOUL, February 12 (AJP) - Samsung Electronics has begun mass shipments of the industry's first HBM4 high-bandwidth memory chips, the South Korean tech giant said on Thursday, looking to secure an early lead in the next-generation AI memory market. The new chip utilizes Samsung's advanced 10-nanometer class (1c) DRAM and its proprietary 4-nanometer foundry process for the base die. It delivers stable transfer speeds of 11.7 gigabits per second (Gbps) and hits a maximum of 13 Gbps, significantly exceeding the industry standard of 8 Gbps set by JEDEC. Samsung said the HBM4 offers a peak bandwidth of up to 3.3 terabytes per second (TB/s) per stack. It supports capacities ranging from 24 gigabytes (GB) to 48 GB, depending on the stacking configuration (8, 12, or 16-high). The company highlighted that its integrated manufacturing capabilities—covering memory, foundry, and packaging—allowed it to optimize power delivery. The new chips improve energy efficiency by approximately 40 percent and reduce thermal resistance by 10 percent compared to previous generations, key factors for reducing operating costs in data centers. "Samsung’s HBM4 departs from conventional methods by adopting cutting-edge technologies like 1c DRAM and a 4-nanometer foundry process right from the start," said Hwang Sang-joon, Executive Vice President of Memory Product & Technology. "We have secured sufficient headroom for performance scaling to meet customers’ rising demands in a timely manner." Looking ahead, Samsung plans to ship samples of the upgraded HBM4E in the second half of 2026 and begin sampling custom HBM products in 2027. Buoyed by the expansion, the world's largest memory chipmaker expects its HBM revenue in 2026 to more than triple from 2025 levels. 2026-02-12 16:36:12
  • Ex-interior minister sentenced to 7 years in prison in martial law case
    Ex-interior minister sentenced to 7 years in prison in martial law case SEOUL, February 12 (AJP) - Former Interior and Safety Minister Lee Sang-min was sentenced to seven years in prison on Thursday for his role in disgraced former President Yoon Suk Yeol's martial law debacle. In a trial broadcast nationwide, the Seoul Central District Court ruled that he was guilty of aiding Yoon's declaration of martial law on Dec. 3, 2024, by instructing police and fire agencies to cut off power and water to media outlets on Yoon's orders. The court also found him guilty of perjury for denying his involvement in the botched debacle during, Yoon's impeachment trial in February last year. The court said the short-lived fiasco that night was an "insurrection which undermined the constitutional order and the core values of democracy," making heavy punishment inevitable regardless of whether it succeeded or failed. It also said that Lee "would have recognized as illegal and unconstitutional," adding that there was evidence of orders to cut off power and water to major institutions and news outlets. Despite the court's ruling that the botched debacle constituted an insurrection, the sentence was less than half the 15 years prosecutors sought at Lee's final hearing last month. After the ruling, prosecutors expressed disappointment over the lighter sentence and said they will decide soon whether to appeal. 2026-02-12 16:34:54
  • Seoul embarks on massive cleanup of penny stocks while market is hot
    Seoul embarks on massive cleanup of penny stocks while market is hot SEOUL, Feb 12 (AJP) - Hoping to keep alive the sizzling momentum in the Korean stock market, now ranked among the world’s top 10 by valuation, Seoul has toughened rules to clean out zombie stock names. According to a new set of delisting requirements unveiled Thursday by the Financial Services Commission (FSC), members of the KOSPI will face stronger market capitalization and financial health standards, similar to those applied to the smaller KOSDAQ. As of September 2024, “zombie companies” accounted for nearly a quarter of KOSDAQ listings and around 10 percent of the KOSPI. Financial authorities estimate that the ratio of marginal firms across both markets remains at similar levels today. Zombie companies, also known as marginal firms, refer to businesses unable to cover even their interest expenses with operating profits, often falling into capital erosion. Previously, the FSC considered delisting only firms that were in a state of capital erosion at the end of a fiscal year. Under the new rules, however, companies that fall into capital erosion even on a semiannual basis will immediately face delisting procedures. The message is clear: firms that cannot — or will not — rapidly restore their financial standing will no longer be allowed to linger in the capital market. The deadline for meeting minimum market capitalization requirements has also been sharply brought forward. Originally, listed firms were required to reach a market capitalization of 15 billion won ($10.4 million) by January this year, 20 billion won by January 2027, and 300 billion won by January 2028. Under the revised plan, firms must reach 20 billion won by July this year and 300 billion won by January 2027. Furthermore, share prices must be maintained at 1,000 won or higher. “In the U.S. Nasdaq, being a ‘penny stock’ is grounds for delisting,” FSC Vice Chairman Lee Eog-won said during a regional meeting in Gwangju the previous day. “We intend to introduce similar provisions here.” The threshold for delisting due to disclosure violations has also been lowered from 15 penalty points to 10. Disclosure violations are typically categorized into failure to disclose, changes in disclosure, and reversals of disclosure, with penalties ranging from 1 to 10 points depending on severity. This means a single major violation could now trigger immediate delisting proceedings. A notable example is Kumyang, a KOSPI-listed firm that was handed 10 penalty points for allegedly inflating performance figures for a mine in Mongolia. While Kumyang accumulated a total of 17 points annually in that instance, under the new rules such a firm would enter delisting review immediately upon reaching the 10-point mark. The review period itself has been shortened from 18 months to one year. To prevent firms from using injunction lawsuits to stall proceedings, the FSC plans to coordinate closely with relevant courts. The regulator has also launched an “Intensive Delisting Management Task Force,” led by the vice chairman of the KOSDAQ Market Division, which will operate for the next 17 months until July next year. The FSC estimates that up to 220 companies could be delisted this year under the new regulations, far exceeding the original estimate of 50. Among them, 160 firms are classified as penny stocks trading below 1,000 won, representing 9 percent of all KOSDAQ-listed companies. “For the past 20 years, the KOSDAQ market has maintained a structure of ‘many births and few deaths,’ with 1,353 entries and only 415 exits,” the FSC said. “While the number of listed firms grew eightfold, total market capitalization increased only 1.6 times.” After surpassing the 1,000 mark during the dot-com bubble on Sept. 14, 2000, the KOSDAQ remained trapped between 600 and 900 for more than 25 years before recently breaking above 1,000 again. The FSC plans to apply the same strengthened standards to the benchmark KOSPI market. On Thursday, the KOSDAQ closed at 1,125.99, up 1 percent. The modest gain contrasted with the KOSPI, which surged 3.13 percent to a record high of 5,522.27. While the KOSPI climbed 4.2 percent between Feb. 9 and Feb. 12, the KOSDAQ remained virtually flat, edging up just 0.14 percent. 2026-02-12 16:34:26
  • BNT Spotlight Global Fan Vote Launches With Times Square Ad Prize
    BNT Spotlight Global Fan Vote Launches With Times Square Ad Prize BNT News and global fan-voting platform STARDOM officially launched the rising-artist branding and marketing project BNT Spotlight on Feb. 11. Organizers said BNT Spotlight is designed as a marketing project that links emerging artists to a global stage, rather than a simple popularity vote. It combines media, content and fan participation, with voting results feeding real-time rankings, content production and wider international news distribution. The project uses a multi-platform voting system connected across STARDOM, MY1PICK and JK FANDOM. Sixteen teams are participating: PRIMROSE, LUN8, WAKER, ADAP, SAY MY NAME, n.SSign, NCHIVE, ALL(H)OURS, E11iVYN, JUST B, NEWBEAT, NouerA, In A Minute, We;Na, TEMPEST and X:IN. Preliminary voting runs through Feb. 23. The semifinals are Feb. 25 to March 4, and the final is March 6-16. Top finishers will receive global promotional rewards. The No. 1 artist is set to receive a large digital billboard ad in New York’s Times Square, distribution of articles to 600 global media outlets and 20 million views for Instagram Reels content. Second place is to receive articles to 300 outlets and 10 million Reels views, and third place articles to 50 outlets and 5 million Reels views. All participating artists will receive a BNT News article and Instagram Reels content regardless of ranking, organizers said. A BNT News official said BNT Spotlight is “a project in which artists, fans and media create a single growth story together,” adding that it will serve as “a new channel to expand the potential of rising artists in the global market.”* This article has been translated by AI. 2026-02-12 16:27:00