Journalist

Lee Hugh
  • Hyundai Motor CEO unveils massive Korea, US investment plans
    Hyundai Motor CEO unveils massive Korea, US investment plans SEOUL, February 10 (AJP) - Hyundai Motor plans record investments in South Korea and major spending in North America while seeking renewed growth in emerging markets including India and China, CEO Jose Munoz said in a message to employees. In an internal email sent Monday, Munoz said Hyundai Motor would invest 125.2 trillion won in South Korea over the next five years, marking the company’s largest-ever domestic commitment. The automaker also plans to invest about 35 trillion won in North America. For this year, the company targets global sales of 4.16 million vehicles, revenue growth of 1 to 2 percent, and an operating profit margin of 6.3 to 7.3 percent, Munoz said. Hyundai plans to sustain momentum through the launch of a Genesis hybrid model and a range-extended electric vehicle (EREV), which is scheduled to enter the market next year. Munoz cited solid performance across major markets, saying South Korea achieved stable growth following successful launches of models including the Palisade and Ioniq 9, while North America recorded sales growth for a fifth consecutive year. Munoz said the company’s recent share-price gains reflect not only its future mobility vision — including advances in robotics and physical artificial intelligence showcased at CES — but also strong operating performance and consistent financial results. He also emphasized Hyundai’s internal management approach, urging employees to “move fast, prepare ahead, respond nimbly to change, and work as one global team.” Hyundai Motor reaffirmed its long-term goal of selling 5.55 million vehicles annually by 2030, including 3.3 million eco-friendly models, equivalent to about 60 percent of total sales. The company also aims to achieve an operating profit margin of 8 to 9 percent and plans to expand its hybrid lineup to at least 18 models by the end of the decade. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-10 14:55:23
  • Trump responds to letter urging protection for North Korean POWs in Ukraine
    Trump responds to letter urging protection for North Korean POWs in Ukraine SEOUL, February 10 (AJP) - U.S. President Donald Trump has responded to a letter calling for protection of North Korean prisoners of war held in Ukraine, a civic group that assists North Korean defectors said on Tuesday. According to the Emergency Committee for the Free Repatriation of North Korean Soldiers, led by defector-turned-lawmaker Thae Yong-ho, its U.S.-based affiliated group, Free Joseon, sent a letter to Trump last month urging that the POWs' free will be respected and that they be protected under the principle of non-refoulement, which prohibits forced repatriation. Trump sent a reply last Sunday to Peter Oh, a defector-turned-reporter for Radio Free Asia who also leads Free Joseon, thanking him for "taking the time to share" the story. "Your words are a powerful reminder of the strength, resilience, and spirit of the American people. It is because of proud, hardworking citizens like you that I will never stop fighting to protect our values, defend our freedoms and put America first," he added. The committee said Trump's letter did not contain any specific plans or steps to resolve the issue of North Korean POWs. Two wounded North Korean soldiers who were captured while fighting for Russia in its war against Ukraine in January last year remain held there, despite having expressed their wish to go to South Korea in interviews with South Korean media. 2026-02-10 14:15:28
  • BTS Comeback D-39: Affordable flight tips to arrive on time for the Gwanghwamun show
    BTS Comeback D-39: Affordable flight tips to arrive on time for the Gwanghwamun show *Editor’s Note: AJP will provide up-to-date travel information leading up to BTS’s Gwanghwamun live show on March 21, including flights, lodging, and where to go, see and eat to make the most of the Seoul experience. SEOUL, February 10 (AJP) — It is still not too late to book those tickets to fly into Seoul, for those who cannot wait for BTS’s tour stop in their home turf and arrive for the March 21 once-in-a-lifetime open-space comeback show in Gwanghwamun Square, regardless of how lucky they get with the free ticket opening on Feb. 23. And fans are far from alone. Search data point to a surge in interest in Seoul-bound flights ahead of the event, particularly from the United States, Indonesia and France, reflecting growing overseas travel demand tied to the group’s return. For long- and mid-haul travelers, a three-night stay remains the most popular option. U.S. routes: Balancing cost and time For fans traveling from the United States, budget-friendly options are still available. With Seoul 16 to 17 hours ahead of Los Angeles, a March 20 arrival allows time to adjust to jet lag before the evening performance. Searches across major booking platforms, including Skyscanner, Trip.com and Agoda, show a range of options for March 19 departures and March 23 returns. Both nonstop and connecting routes allow arrival in Seoul on March 20 or early March 21, leaving sufficient time ahead of the show. Hong Kong–routed itineraries remain relatively affordable, but some exceed 40 hours in total travel time. Mixed-carrier combinations offer alternatives in the low-20-hour range, providing a middle ground between price and overall journey length. For travelers prioritizing lower fares over shorter travel times, mainland China connections remain among the most affordable, though total duration varies depending on layover structure. Southeast Asia: Minimal jet lag, tight schedules Similar booking patterns are emerging across Southeast Asia. With only a one- to two-hour time difference between Jakarta and Seoul, Indonesian travelers face minimal jet lag compared with long-haul markets. However, arrivals on March 21 leave little buffer time, making careful schedule coordination important. Flights departing Jakarta on March 20 and returning March 23 remain available, with most routes involving one stop through regional hubs and overnight connections. Compared with routes from the United States or Europe, Southeast Asia itineraries offer relatively affordable round-trip fares while aligning closely with a March 20 arrival and March 23 departure schedule. Europe: Overnight stability, flexible options For travelers departing from Paris, Seoul is seven to eight hours ahead, and nonstop flights averaging around 12 hours provide a relatively stable overnight option. For the March 19–23 window, both nonstop and connecting itineraries remain available. While connecting routes extend overall travel time, they often offer noticeable cost savings. A March 19 departure still allows arrival in Seoul on March 20, providing a full day of buffer before the central Seoul performance. Getting into the city Beyond flight schedules, on-the-ground logistics are also part of travel planning. Incheon International Airport is located about one hour from central Seoul by Airport Railroad Express (AREX) or taxi. Late-afternoon arrivals on March 20 typically allow same-day hotel check-in without difficulty. Fans arriving late on March 21 may face tighter schedules, especially during peak evening traffic hours. Entry requirements International travelers are also advised to review entry rules before departure. U.S. and French passport holders may enter South Korea visa-free for stays of up to 90 days. While a K-ETA is normally required, the requirement is currently waived through 2026. Indonesian travelers generally need a short-term tourist visa and should apply in advance through a Korean embassy or designated visa center. Countdown to Gwanghwamun With just over a month to go, flight searches suggest that overseas fans are already mapping out their journeys to Seoul. As travel plans take shape, the road to Gwanghwamun is well underway for ARMY across continents ahead of BTS’s long-awaited open-air return. 2026-02-10 14:08:27
  • Robot patrols will begin at Changdeok Palace in Seoul
    Robot patrols will begin at Changdeok Palace in Seoul SEOUL, February 10 (AJP) - South Korea’s Korea Heritage Service will begin a month-long pilot program deploying an autonomous patrol robot at the historic Changdeok Palace in Seoul. The robot, named “Sunrabot,” will begin operations on Feb. 10, conducting nighttime patrols and supporting round-the-clock safety management, the agency said. The name references the sunragun, patrol guards of the Joseon Dynasty who monitored security in and around the royal capital. Equipped to detect fires and unusual sounds, the robot will relay emergency alerts in real time to the Changdeok Palace Management Office and other relevant authorities. Separately, the agency said it will carry out joint disaster-prevention inspections with local governments at around 40 national heritage sites ahead of the spring thaw. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-10 14:08:11
  • FSS probes Bithumb following ghost coin scandal
    FSS probes Bithumb following "ghost coin" scandal SEOUL, Feb 10 (AJP) -The Bithumb mispayment case is emerging as a major test for South Korea’s virtual asset regulatory system, as financial authorities move to use the findings to shape tougher oversight and future legislation. The Financial Supervisory Service (FSS) said Tuesday that it is focusing on whether Bithumb’s internal control systems complied with the Act on the Protection of Virtual Asset Users, particularly rules requiring exchanges to hold virtual assets in amounts equivalent to customer deposits. Regulators are also examining how a single employee’s input was able to trigger large-scale ledger distortions and whether real-time monitoring systems were operating properly. Authorities are reviewing Bithumb’s reconciliation procedures, including how frequently the exchange compared its internal accounting records with actual wallet balances. Bithumb has confirmed that it conducted reconciliation once a day, completing checks on the afternoon of the following trading day. This contrasts with rival Upbit, which operates an automated system that verifies reserves and ledger balances at five-minute intervals. Officials are also investigating how quickly the mispayment was detected. According to industry sources, the error was identified within about 20 minutes after a staff member reviewed a test account that had been included among event recipients. The FSS said the inspection results would be reflected in discussions on the second phase of virtual asset legislation, with a focus on preventing the recurrence of so-called “ghost coin” incidents. FSS Governor Lee Chan-jin has said that resolving such issues is essential for the virtual asset market to gain institutional credibility. Lawmakers and regulators are also reviewing governance standards at crypto exchanges. Some officials said the case has added momentum to proposals to cap major shareholders’ ownership stakes at 15 to 20 percent to strengthen internal oversight. The FSS is expected to continue intensive inspections this week and may extend the probe if necessary. Depending on the outcome, Bithumb could face administrative sanctions, including fines and possible disadvantages in future business license renewals. Bithumb responded that it is strengthening internal controls and reviewing its operating systems, regardless of the investigation outcome. The exchange said it has launched an internal audit to identify the root cause of the error and assess weaknesses in its accounting and approval processes. It is also conducting a comprehensive review of its ledger management and reconciliation systems. Bithumb said it is reinforcing safeguards to prevent a recurrence, including tightening access controls, strengthening multi-step verification procedures for asset transfers, and expanding automated monitoring systems that compare internal records with actual wallet balances. The company said it is also reviewing its reconciliation schedule, which currently involves comparing ledger entries and on-chain balances once a day. Officials indicated that the frequency and scope of these checks may be expanded, following criticism that the system was insufficient to detect abnormal transactions in real time. Regarding customer protection, Bithumb said it has taken steps to secure affected assets and prevent unauthorized withdrawals linked to the mispayment. The company said it is reviewing compensation and recovery measures in line with regulatory guidance. The incident occurred during a routine event payout at Bithumb last Friday, when an intended reward of 2,000 won ($1.20) per user was mistakenly entered as 2,000 bitcoins. As a result, about 620,000 bitcoins were credited to 249 customer accounts. Bithumb said it intervened within minutes after detecting the error. However, during the brief window before the system was frozen, about 1,788 bitcoins were sold on the market, triggering sharp volatility and pushing prices down by as much as 17 percent at one point. Prices have since stabilized, but the exchange said it has recovered only 99.7 percent of the misallocated assets, with about 125 bitcoins still unretrieved. The episode bared a yawning discrepancy between Bithumb’s internal accounting records and its actual asset holdings. The exchange did not possess the 620,000 bitcoins that were credited to customer accounts. According to its disclosures, Bithumb’s total bitcoin reserves are estimated at around 43,000 coins, with only about 175 bitcoins owned directly by the company, excluding customer deposits. This means the platform temporarily recorded balances far exceeding its actual holdings, creating so-called “ghost coins” within its internal ledger. 2026-02-10 13:16:04
  • AI rally, election boost lift Asian stocks led by Japan
    AI rally, election boost lift Asian stocks led by Japan SEOUL, February 10 (AJP) - Asian stocks extended gains Tuesday, led by Japan, as investor sentiment improved on a powerful mix of artificial intelligence enthusiasm and political clarity following a landslide election victory for the country’s ruling camp. Japan’s Nikkei 225 climbed more than 2 percent as uncertainty eased after Prime Minister Sanae Takaichi’s decisive win strengthened confidence in her “Strong Japan” economic agenda. Heavyweight technology and semiconductor stocks, including SoftBank Group and Tokyo Electron, drove the advance. South Korean shares also opened higher, tracking overnight gains in U.S. AI-related stocks. A rally in artificial intelligence names on Wall Street lifted local chipmakers and tech shares, with SK hynix rising more than 1 percent in early trade. Sentiment was further supported by news of a meeting between SK Group Chairman Chey Tae-won and Nvidia CEO Jensen Huang. Shares linked to Hyundai Motor Group gained after its robotics unit, Boston Dynamics, released a demonstration video of its humanoid robot “Atlas,” fueling expectations for production innovation and long-term growth in robotics. Hyundai Motor rose 1.57 percent to 485,000 won, while Hyundai AutoEver jumped 6.71 percent. Hyundai Glovis and Hyundai Mobis gained 0.82 percent and 0.23 percent, respectively. The benchmark KOSPI added 0.42 percent to 5,320.52, while the tech-heavy KOSDAQ slipped 0.90 percent to 1,117.58 as of 11:10 a.m. in Seoul. Investor flows were mixed. Individual investors sold a net 561.4 billion won ($385 million), while foreign and institutional investors bought a net 2.87 trillion won and 2.33 trillion won, respectively. The won consolidated on broad dollar weakness, with the greenback trading 2.20 won lower at 1,457.30. Among blue chips, Samsung Electronics edged up 0.03 percent to 166,450 won, while LG Energy Solution fell 1.39 percent to 389,000 won. Financial and biotech shares outperformed. Samsung Life Insurance gained 2.59 percent to 198,000 won, and Samsung Biologics rose 0.35 percent to 1.7 million won. Defense and aerospace stocks underperformed, with Hanwha Aerospace sliding 6.04 percent to 1,121,000 won. Shipbuilders also came under pressure. HD Hyundai Heavy Industries fell 2.41 percent to 527,000 won, while Hanwha Ocean declined 1.58 percent to 131,100 won. Elsewhere in Asia, Hong Kong’s Hang Seng Index rose 0.88 percent to 27,263.95, and China’s Shanghai Composite edged up 0.04 percent to 4,124.66 in morning trade. 2026-02-10 11:33:46
  • Japanese PM says she hopes to visit South Korea again in reply to Lee
    Japanese PM says she hopes to visit South Korea again in reply to Lee SEOUL, February 10 (AJP) - Japanese Prime Minister Sanae Takaichi thanked South Korean President Lee Jae Myung for his congratulatory message following her party's landslide victory in a snap election over the weekend. In a reply to Lee's message on X, formerly Twitter, late Monday night, Takaichi wrote, "I sincerely thank for his warm congratulations." She said Japan and South Korea as neighboring countries must cooperate as partners on various challenges facing the international community. "As affirmed during Lee's visit to Nara last month, we share a common understanding of the strategic importance of the bilateral relationship." Takaichi then said the two countries should develop their relationship "in a forward-looking and stable manner," and added she looks forward to visiting South Korea again as part of shuttle diplomacy. Meanwhile, the island country's first female prime minister had called the election just four months after becoming party leader in a bid to further consolidate her power. In last Sunday's election, the ruling LDP-led coalition secured 316 of the Diet's 465 seats, up 128 from its previous 198, surpassing the two-thirds threshold of 310 needed to propose constitutional amendments. This is the first time since its founding in 1955 that the LDP has broken its own record for the most seats in Japan's House of Representatives. 2026-02-10 11:23:36
  • Hanwha Aerospace, KAI to jointly develop long-range air-to-air missile
    Hanwha Aerospace, KAI to jointly develop long-range air-to-air missile SEOUL, February 10 (AJP) - South Korean defense firms Hanwha Aerospace and Korea Aerospace Industries (KAI) said on Monday they will jointly develop a long-range air-to-air missile and cooperate on overseas marketing to expand exports of South Korean aircraft and air-launched weapons systems. Under a memorandum of understanding they signed a day earlier at the World Defense Show in Riyadh, Saudi Arabia, they will cooperate on integrating air-launched weapons into South Korea’s KF-21 fighter jet and FA-50 light combat aircraft. Hanwha Aerospace said it is conducting preliminary research with the agency on next-generation air weapons, including long-range air-to-air missiles powered by solid-ramjet engines, as well as supersonic air-to-surface and air-to-ship missiles. Demand for comprehensive defense packages has been rising as overseas customers increasingly seek integrated solutions covering aircraft platforms, weapons systems and operational support, KAI Chief Executive Cha Jae-byung said. “Korean defense products are gaining credibility, and customers are asking for packages that include not only aircraft but entire operational systems,” Cha said in a press release, adding domestic defense firms would work together to expand exports through joint marketing. Hanwha Aerospace Chief Executive Son Jae-il said combining Hanwha’s missile development experience across air-to-air, air-to-surface and surface-to-air systems with KAI’s aircraft integration capabilities would support the development of indigenous air-launched weapons. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-10 11:11:21
  • Black Eagles paint Riyadh sky with dazzling aerobatics in debut performance
    Black Eagles paint Riyadh sky with dazzling aerobatics in debut performance SEOUL, February 10 (AJP) - South Korea's aerobatics team wowed spectators with impressive maneuvers at an air show in Saudi Arabia on Monday. It was the Black Eagles' first appearance at the show, which was part of the International Defense Industry Exhibition in the Middle Eastern country. After the Saudi Falcons’ performance, the Black Eagles took off with eight aircraft, forming star- and diamond-shaped patterns before moving into their other signature maneuvers, leaving colored smoke trails across Riyadh's sky. To the beat of traditional folk tune "Arirang" and "Golden" from Netflix's hit animated film "Kpop Demon Hunters," the team performed a series of routines including 360-degree turns. The highlight was its "Mugunghwa" maneuver, inspired by the country's national flower, the rose of Sharon, which symbolizes the country's perseverance and resilience. For the 30-minute show, spectators including South Korean expatriates packed areas around the runway to watch the dramatic maneuvers, cheering loudly and waving flags. In one breathtaking sequence, four aircraft approached at high speed in pairs from opposite directions, then narrowly crossed paths mid-air. Despite Riyadh's dry, high-altitude environment that reduces engine thrust and acceleration, the Black Eagles climbed to 8,000 feet (about 2,438 meters) and maintained top speed. Yoon Jong-geun, a South Korean expat in Saudi Arabia, said the team showed "another level of skill," compared with those he had watched earlier. "Just watching the Black Eagles fly over Saudi skies is a thrilling moment," he added. 2026-02-10 10:35:43
  • Pitcher Erick Fedde Agrees to One-Year Deal to Return to Chicago White Sox
    Pitcher Erick Fedde Agrees to One-Year Deal to Return to Chicago White Sox Former KBO MVP pitcher Erick Fedde is set to return to the Chicago White Sox.  MLB.com, citing sources, reported on Monday that the White Sox have agreed to a one-year contract with the right-hander. The team has not announced the deal, but only a physical remains, the report said.  Fedde starred for the NC Dinos in 2023, going 20-6 with a 2.00 ERA and 209 strikeouts to win the regular-season MVP and the pitching Golden Glove.  He returned to the majors in 2024 after signing a two-year, $15 million deal with the White Sox. He made 31 appearances that season and went 9-9 with a 3.30 ERA.  Last year, he struggled after stints with the St. Louis Cardinals, Atlanta Braves and Milwaukee Brewers, going 4-12 with a 5.76 ERA in 32 games. After moving to the bullpen in Milwaukee, he rebounded with a 3.38 ERA over seven outings, pitching 16 innings.  MLB.com said Fedde’s sweeper and changeup remain effective, noting opponents are hitting just .191 against his sweeper.  2026-02-10 10:18:00