Journalist
Lee Hugh
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Seochon March Spring Festival to Run March 12-31 at Credia Classic Club Studio The spring festival “2026 Seochon March” will open in March. Credia said Wednesday that Seochon March will run from March 12 to 31 at Credia Classic Club STUDIO under the theme “Seochon March.” The first movement, a live concert, will open with a chamber performance by eight principal players from the Dito Orchestra. It will be followed by the Kim Dae Ho Trio, performing improvised jazz rooted in the bebop tradition. This year’s lineup also includes a kids’ classical concert by Le Petit Ensemble, open to audiences from newborns, as well as stages by crossover artist Park Hyun Soo and pianist Park Jong Hae. The second movement, a lecture series titled “Seochon Pungnyu,” will begin with a talk by Jeon In Geon, director of the Kansong Art Museum, on flower-and-bird painting. It will also feature a lecture by Jeong Byeong Mo, head of the Korean Minhwa School, exploring minhwa through the character “Duffy” from the film “K-pop Demon Hunters,” and a humanities talk with classical columnist Yoo Yoon Jong on composer Gustav Mahler’s music and life, tied to Eulyoo Publishing’s “Masters of Modern Art” book series. The third movement, “Haegeum Seoga Talk Concert,” will be hosted by haegeum player and author Cheon Ji Yoon, with conversations featuring pansori master Ahn Yi Ho, Gyeonggi folk singer Lee Hee Moon and scientist Jeong Jae Seung. Credia Classic Club STUDIO, a small multiuse cultural space in Seochon, is about a five-minute walk from Gyeongbokgung Station. Organizers said the intimate venue allows close communication with performers and speakers. Tickets are available through NOL Ticket and the Club Balcony website. * This article has been translated by AI. 2026-02-05 08:45:00 -
South Korean trade minister urges swift passage of US investment bill SEOUL, February 05 (AJP) - South Korea’s trade minister Yeo Han-koo on Thursday urged swift passage of a special law to support investment in the United States, warning that delays in the National Assembly risk being misinterpreted in Washington as a lack of commitment. Speaking after returning from Washington, Yeo said progress on the bill has slowed, raising concerns that the United States could see this as reluctance by Seoul to carry out agreed tariff measures. During his visit, Yeo said he stressed that South Korea intends to implement the tariff agreement “faithfully and swiftly,” adding it would be undesirable for Seoul’s good-faith efforts to lead to higher tariffs. He called for closer coordination with lawmakers to speed passage while ensuring U.S. officials understand South Korea is working sincerely to meet its commitments. The situation must be managed carefully to prevent bilateral friction, he added. Yeo said he did not meet U.S. Trade Representative Jamieson Greer during the trip but held three rounds of talks with senior officials. He said he has spoken with Greer five times in recent weeks and plans further consultations. Asked whether Washington could withdraw or delay planned tariff increases, Yeo said U.S. decisions are hard to predict but stressed the need for continued consultations even after the law is passed to avoid misunderstandings. U.S. President Donald Trump said on Jan. 26 that tariffs on South Korean cars, lumber, pharmaceuticals and other goods could rise to 25 percent from 15 percent, citing slow legislative progress on the investment bill. Following Trump’s remarks, ruling and opposition parties agreed Tuesday to form a special parliamentary committee to speed passage of the legislation. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-05 08:40:41 -
Korean conglomerates vow nearly $200 bn over 5 years for regional growth SEOUL, February 05 (AJP) -South Korea’s major business conglomerates have pledged to invest about 300 trillion won ($186 billion) across non-capital regions over the next five years, responding to President Lee Jae Myung’s call for more inclusive growth and balanced regional development. “As our companies work hard and the economy gradually begins to recover, I hope the fruits of growth will be shared more broadly,” Lee said at a meeting with conglomerate chiefs at Cheong Wa Dae on Tuesday. “Those benefits should spread evenly to small and medium-sized businesses, regional communities and the younger generation.” It was the first dinner hosted for conglomerates by the president. Federation of Korean Industries Chairman Ryu Jin said the nation’s top 10 conglomerates plan to invest 270 trillion won in regional cities and provinces over the next five years. Combined with other corporate investment plans, the total is expected to reach around 300 trillion won. According to the FKI, if fully implemented, the pledged investment could generate up to 525 trillion won in production and 221 trillion won in added value. The move reflects growing concern over widening economic polarization. While large exporters have posted record earnings, many small and medium-sized firms continue to struggle amid weak domestic demand. Government data showed that the manufacturing production index for large companies rose 3.0 percent last year to a record 118.8, while that of small firms fell 3.3 percent to 98.3, the lowest level on record. Advanced industries such as semiconductors and batteries remain concentrated in the Seoul metropolitan area, accelerating youth outflows and deepening regional disparities. “The economy is like an ecosystem,” the president said. “Just as grass, grasshoppers and rabbits are needed for tigers to thrive, smaller firms, regional communities and young people must also prosper.” Major investment projects will focus on semiconductor facilities, battery research and production, carbon-neutral infrastructure and renewable energy. Samsung Electronics has pledged to newly hire 60,000 workers domestically and invest 450 trillion won over five years, including in R&D and facilities. The company plans to expand hiring in semiconductors, biotechnology and artificial intelligence. SK hynix will invest 19 trillion won in an advanced packaging plant in Cheongju, with total employment effects expected to exceed 10,000 jobs. It is also preparing to launch its M15X plant for next-generation memory production. Hyundai Motor Group has announced a 125.2 trillion won domestic investment plan for 2026–2030, including hydrogen infrastructure and electric vehicle facilities in Ulsan and the southwest region. LG Group plans to invest 100 trillion won domestically over five years, with LG Innotek expanding operations in Gwangju and Gumi. POSCO Group will invest about 5 trillion won this year in steel, battery materials and LNG projects, including hydrogen-based steelmaking facilities. Other groups, including Hanwha Aerospace and GS Group, are expanding investments in defense, wind power, LNG and small modular reactors. Lee said the government plans to foster five major regional hubs and three special self-governing provinces, urging companies to align their investment strategies with national development plans. “The government will create new centers of growth in regions and invest intensively,” he said. “I hope companies will move in step with these efforts.” He added that special legislation will be introduced to support renewable energy clusters and energy cities, while giving greater weight to non-capital regions in fiscal allocations. Advances in transportation and digital infrastructure have narrowed the gap between Seoul and regional areas, making regional investment increasingly attractive, Lee said. During the meeting, conglomerates also shared plans to hire a combined 51,600 workers this year, including 12,000 at Samsung and 8,500 at SK, presidential spokesperson Lee Kyu-yeon said. Samsung and SK hynix both posted record operating profits last year, driven by surging demand for artificial intelligence chips. 2026-02-05 08:02:45 -
Kim Jae-youl elected to IOC executive board, second Korean to serve on the body SEOUL, February 05 (AJP) -Kim Jae-youl, president of the International Skating Union and a member of the International Olympic Committee, has been elected to the IOC Executive Board, becoming only the second South Korean to serve on the body. Kim was chosen Tuesday (Korea time) during the 145th IOC Session in Milan, host city of the 2026 Milan-Cortina Winter Olympics. He received 84 votes in favor out of 100 valid ballots, with 10 against and six abstentions. He joins the late Kim Un-yong, a former IOC vice president, as the only South Koreans to have served on the IOC’s top decision-making body. Founded in 1921, the Executive Board consists of the IOC president, four vice presidents and 10 other members. It oversees the organization’s administration and finances and manages procedures for selecting Olympic host cities. Members serve four-year terms. Four candidates competed for three open seats in the election. Along with Kim, Ingmar De Vos of Belgium and Neven Ilic of Chile were also elected. President Lee Jae Myung congratulated Kim in a Facebook post, calling the election a significant step for South Korea’s international standing in sports governance. “This great accomplishment transcends individual glory,” Lee wrote. “It carries tremendous significance in that South Korea will now take on an even greater leadership role at the center of international sports governance.” Lee added that Kim’s experience and leadership would help shape the future of the Olympic Movement. “Kim’s wealth of experience and brilliant leadership will lay a strong foundation for leading the future of the Olympic Movement,” he said, expressing hope that Kim would further expand international cooperation based on Olympic values of fairness, transparency, peace and solidarity. The president also pledged the government’s full support for sports diplomacy, vowing to strengthen South Korea’s role as “a responsible partner” in the global community. Kim became an IOC member in October 2023 in his capacity as head of an Olympic sport’s international governing body. He has served as ISU president since June 2022. He previously served as president of the Korea Skating Union from 2011 to 2016, vice president of the Korean Sport & Olympic Committee, and South Korea’s chef de mission at the 2014 Sochi Winter Olympics. He was also executive vice president of international relations for the 2018 PyeongChang Winter Olympics. Kim remains the only South Korean member of the IOC. Former Olympic bobsleigh silver medalist Won Yun-jong is seeking election this month to the IOC Athletes’ Commission. Kim, 57, is the brother-in-law of Samsung Group Chairman Lee Jae-yong. Meanwhile, former U.N. under-secretary-general Kim Won-soo was elected to the IOC’s Ethics Commission.Kim Won-soo, a career diplomat and close associate of former U.N. Secretary-General Ban Ki-moon, will serve a four-year term and may be re-elected twice. The commission is responsible for updating the IOC’s Code of Ethics, reviewing potential violations and advising on ethical governance. 2026-02-05 07:43:23 -
South Korea curling mixed doubles team routed by Sweden in Olympic opener South Korea’s first athletes to compete at the Milan-Cortina d’Ampezzo Winter Olympics opened with a lopsided loss in curling mixed doubles. Kim Seon Yeong (Gangneung City Hall) and Jeong Yeong Seok (Gangwon Province Office) lost 10-3 to Sweden’s Isabella and Rasmus Wranå on Feb. 5 (Korea time) in their first round-robin game at the Cortina Curling Olympic Stadium in Cortina d’Ampezzo. The Milan-Cortina d’Ampezzo Winter Olympics are set to begin with an opening ceremony at 4:30 a.m. on Feb. 7 at the San Siro Olympic Stadium in Milan. Mixed doubles began round-robin play ahead of the ceremony, making Kim and Jeong the first South Korean competitors to take the ice. Ten teams are competing in mixed doubles, with each nation playing a round-robin schedule. The top four advance to the semifinals and final to determine the medals. South Korea’s round-robin opponents are Italy, Switzerland, Britain, the Czech Republic, the United States, Estonia, Canada and Norway, in addition to Sweden. Kim and Jeong secured the final of the 10 Olympic mixed doubles berths through the Olympic Qualification Event. It is the second time South Korean curling has entered the Olympic mixed doubles field, following Pyeongchang 2018 (Jang Hye Ji and Lee Gi Jeong). Sweden’s Wranå siblings are the 2024 world champions. South Korea could not close the gap against Sweden’s precise shotmaking and dropped its opener. Kim and Jeong are scheduled to play host Italy’s Stefania Constantini and Amos Mosaner at 6:05 p.m. at the same venue. The Italian pair won gold at the 2022 Beijing Winter Olympics. The game was briefly interrupted when the arena lost power during the first end, darkening the venue and shutting off the scoreboard. Play resumed after about 10 minutes once electricity was restored. 2026-02-05 06:06:00 -
Kim Jae Yeol Elected to IOC Executive Board, Second South Korean to Serve Kim Jae Yeol, president of the International Skating Union and an International Olympic Committee member, was elected to the IOC Executive Board. Kim was chosen in a vote held Tuesday (Korea time) at the 145th IOC Session at the Milano Cortina 2026 Winter Olympics Main Media Center in Milan, Italy. He received 84 votes in favor out of 100 valid ballots, with 10 against and six abstentions. He is the second South Korean to serve as an IOC executive board member, following the late Kim Un Yong, a former IOC vice president.* This article has been translated by AI. 2026-02-04 20:03:00
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Lotte Chemical Targets 2026 Turnaround With Portfolio Shift to Specialty, Clean Energy Lotte Chemical said it will complete a restructuring of its Daesan industrial complex operations within the year and begin building a new growth base, including expanding higher value-added products using its Yulchon compounding plant. On Tuesday’s earnings conference call, the company said it is aiming for a turnaround in 2026 centered on two strategies: reducing the share of commodity petrochemicals in its portfolio and strengthening foundations for future growth. On efforts to cut capacity at its naphtha cracker operations, which it said have been slow to progress, the company said it will do its best to successfully wrap up the ongoing Daesan complex reorganization within the year. Explaining the expected impact, Lotte Chemical said it will hold a 50% stake in the merged entity and that two crackers at each company are running at 80% to 85% utilization. It said shutting down one cracker entirely would deliver a portfolio improvement effect comparable to the volume reduction from that shutdown. The company also laid out a roadmap for shifting toward specialty businesses. It said it will strengthen competitiveness in higher value-added products such as functional materials, as well as in the eco-friendly energy sector. It plans to expand high value-added products such as Super EP, centered on the Yulchon compounding plant being built as South Korea’s largest single compounding facility. The plant, scheduled for completion this year, is currently operating 11 lines: five newly installed in October and six relocated in January. Lotte Chemical added that it plans to complete construction of its U.S. cathode foil plant within the year and gradually expand its battery materials business, including functional copper foil products such as circuit foil for AI use. It also plans to expand capacity in stages for products including semiconductor process materials and green materials for food and pharmaceutical uses. The company said it will additionally bring online a 60-megawatt hydrogen fuel cell power plant in Ulsan to strengthen competitiveness in its eco-friendly energy business. Lotte Chemical said it plans to expand high-performance materials this year and push ahead with its eco-friendly energy business at a faster pace. 2026-02-04 18:12:00 -
PharmaResearch Annual Sales Top 500 Billion Won for First Time PharmaResearch said its annual sales topped 500 billion won for the first time in 2025, driven by growth in its medical device and cosmetics businesses. In a regulatory filing on Tuesday, the company said 2025 revenue rose 53% from a year earlier to 535.7 billion won on a consolidated basis. Operating profit increased 70% to 214.2 billion won. The company said it posted broad-based growth across all business segments, with medical devices and cosmetics leading results. “An increase in domestic demand tied to an inflow of foreign tourists and rising exports centered on medical devices and cosmetics worked together,” the company said. Medical device sales grew 62% from a year earlier, and cosmetics sales surged 69%, led by major overseas markets including the United States and Japan, the company said. PharmaResearch said it plans to accelerate its mid- to long-term global expansion. It will begin European sales of “Rejuran,” which drew attention at the world’s largest aesthetic plastic surgery conference, IMCAS, held last month in Paris. The company also plans to enter the Middle East and South America to diversify markets. It said it will start with Chile, Peru, Argentina and Mexico, and will seek approval in Brazil, the region’s largest market, to expand further in Latin America. The company said it will continue investing in research and development to diversify its portfolio, including expanding its product lineup to cancer treatments and beginning clinical trials aimed at securing approval in Japan, in addition to its pharmaceuticals, medical devices, cosmetics and health functional foods. A PharmaResearch official said 2025 was “a year in which we laid the foundation for a global leap through meaningful growth,” adding that the company maintained steady growth even before results from Europe were fully reflected in earnings. The official said the company plans to invest in facilities to stabilize its global supply chain and strengthen R&D to speed entry into countries where it has not yet received approvals, while reinforcing leadership in the skin booster market.* This article has been translated by AI. 2026-02-04 18:09:00 -
Polestar’s Rise: From Swedish Racing Roots to a Fast-Growing EV Brand What happens when Volvo’s belief that “safety can’t be an option” meets a racing mindset built on pushing performance to the limit? In an EV market dominated by established names such as Tesla, Volkswagen and Hyundai, Sweden-born Polestar has positioned itself as a performance-focused electric brand with an unusual origin story: a European automaker’s safety-first DNA combined with China-based manufacturing and ownership ties. With competition expected to intensify amid concerns about oversupply of Chinese EVs, Polestar says it aims to set a new benchmark between the legacy internal-combustion world and the shift to electric vehicles. ◆From a 1996 launch to a “star” in EVs; up 296.6% in South Korea in a year Polestar traces its roots to Flash Engineering, a Swedish racing team founded in 1996 by STCC champion Jan “Flash” Nilsson. The team developed by tuning Volvo cars for performance, blending Volvo’s “safety can’t be an option” philosophy with racing’s goal of maximizing output. It later rebranded as Polestar Racing and, in 2009, became Volvo’s official performance partner. After Volvo’s acquisition, Polestar debuted as an independent brand in 2015. In 2017, it was absorbed with Volvo into China’s Geely Holding Group and was remade as an electric performance brand. Polestar’s lineup uses simple numbering from 1 to 6. Its first model, the Polestar 1, was a plug-in hybrid rated at 600 horsepower and up to 150 kilometers (93 miles) of electric-only range, drawing attention in the late 2010s as EVs gained momentum. The first sedan, the Polestar 2, competed with Tesla’s Model 3 and helped establish the brand globally. Polestar 4 became a strong seller in the premium EV segment, and Polestar 5 and 6 are scheduled to be unveiled this year. In South Korea, Polestar Automotive Korea sold 2,957 vehicles in 2025, up 296.6% from 800 in 2024, according to the Korea Automobile Importers & Distributors Association. The Polestar 4 accounted for about 90% of sales and led the 60 million won-and-above premium EV import segment last year, beating models including the BMW i5 and Audi Q4 e-tron. The company attributed the result to product quality and brand image rather than heavy promotions or discounting. The Polestar 4’s design removes the rear window to create a more open second-row feel, and it is rated for more than 511 kilometers (318 miles) of range per charge in the long-range single-motor version. It is also rated at up to 544 horsepower and 0-100 kph (0-62 mph) in 3.8 seconds. A Polestar Korea official said the company will “provide Swedish premium value through a differentiated customer experience” and strengthen leadership in the luxury EV market by launching the Polestar 3 and Polestar 5. ◆Not a “Chinese brand wearing a European mask,” Polestar says; aiming to be an EV “dream car” Polestar’s identity reflects how global the auto industry has become. It markets itself with Swedish design and engineering, relies on China for much of its production infrastructure, and has raised capital through a Nasdaq listing. That mix has led some to label it a “Chinese brand wearing a European mask.” Polestar rejects that framing and says it is building a “dream car” identity in the EV era, similar to how Porsche used racing to become a symbol of performance. The company has also promoted a vision of a “climate-neutral car in 2030.” One example is a campaign tied to Climate Week NYC, using outdoor ads across New York and social media to highlight the impact of internal-combustion vehicles on consumers and society, focusing on what it called a hard-to-break dependence between gasoline cars and drivers. Polestar has also pointed to a moonshot project aimed at a fully climate-neutral vehicle without carbon offsets, and a GT Polestar 5 linked to a renewable-energy smelter. Fredrika Klarén, Polestar’s head of sustainability, said, “As many traditional automakers are rolling back climate pledges, we are going the other way,” adding that EVs are “the most efficient and scalable alternative” for responding to climate change. Polestar says its cross-border structure shows how manufacturing ecosystems are being reshaped beyond traditional “national brand” labels. Its push in the EV transition is ongoing as the broader auto industry moves through a period of change. <Editor’s note> As times change, choices about where people live, what they wear and what they eat have become more important than simply making a living. A similar leather bag can cost 100,000 won under one label but sell for 100 million won if made by Hermès. This series looks at the forces behind brands that can sway consumer decisions and determine corporate fortunes, and at the intense competition companies face to build them. * This article has been translated by AI. 2026-02-04 18:03:00 -
Ryoo Seung-wan, Zo In-sung lead spy action film “Humint” ahead of Lunar New Year Director Ryoo Seung-wan of “Veteran” and “Smugglers” is returning with the spy action film “Humint,” starring Zo In-sung, Park Jeong-min, Shin Se-kyung and Park Hae-joon, aiming for the Lunar New Year holiday box office. A press screening and news conference for the film were held Tuesday afternoon at CGV Yongsan I’Park Mall in Seoul. Ryoo and cast members Zo, Park Jeong-min, Shin and Park Hae-joon attended. “Humint” refers to intelligence work using human networks — informants. Set in Vladivostok, the film follows people with different aims who collide in a place where secrets and truth sink into an icy sea. The movie highlights tightly coordinated shootouts and a suspense-driven plot. Park Hae-joon, who plays Hwang Chi-seong, North Korea’s consul general in Vladivostok, said Ryoo creates “creative action.” He added, “When I read the script, I thought it was absurd. I wondered, ‘How are they going to shoot this?’ But watching the process, I thought, ‘This really fits action.’ I was surprised to see action I’d never seen before.” Park Jeong-min, who shares action scenes with Zo, said, “Action scenes are dangerous. If you lose focus, you can get hurt, but (Zo) is so skilled that it felt like I was being protected.” He added that he practiced hard to match Zo’s energy “in every scene, every cut.” Ryoo said the production sought realism in its gunplay by consulting a military affairs journalist from the planning stage. “Instead of working only with the usual stunt team, we talked with a military journalist about how gunfire would work based on where characters are positioned,” he said. “These days, many viewers watch gun scenes with an expert’s eye, so we paid extra attention.” He said the crew counted bullets, tracked when characters could not fire more rounds, and noted when magazines had to be changed. Special effects staff also counted rounds “cut by cut,” he said. Zo, who plays a South Korean National Intelligence Service agent known as Manager Jo, said he visited the agency for shooting practice and basic training. “It was only one day, but I learned a lot by asking questions,” he said, adding he was taught details such as one-handed firing, shooting while moving and footwork. Park Jeong-min, who plays Park Geon, a section chief in North Korea’s Ministry of State Security, said even moments that might pass quickly on screen were mapped out in detail, including where a gun should point when held or not held. He said he practiced at home with a BB gun, including inserting magazines, and learned details down to eye direction when staying alert. Park Hae-joon said his character handled weapons more freely than NIS agents and that he studied North Korean-style grips to fit the role. Beyond gunfights, the film also centers on emotional acting between characters. A key thread is the relationship between Park Geon and Chae Seon-hwa, a North Korean restaurant worker played by Shin. Park Jeong-min said, “I think Park Geon’s purpose in this film is only Seon-hwa.” He said Shin opened up quickly despite it being their first time meeting on set, allowing them to discuss the project in depth. “I’m glad and grateful that Shin Se-kyung played Seon-hwa,” he said. Shin said the film felt different from the romance projects she has done. She added she was excited to work with Park Jeong-min and focused on making sure their emotional arc supported the film’s overall balance. Several South Korean films are set to open during the Lunar New Year holiday, including Jang Hang-jun’s “The Man Who Lives With the King” and Kim Tae-yong’s “Number One.” Ryoo said he is close with the directors and actors of the holiday releases and hopes audiences will support South Korean films during the long break. Focusing on “Humint,” Ryoo said he tried to create a stage where the cast’s appeal could come through on screen. “We did our best, within our abilities, to make a film that feels great to watch in a theater,” he said, asking viewers to look on it kindly. “Humint” opens Feb. 11.* This article has been translated by AI. 2026-02-04 17:54:00