Journalist
Lee Hugh
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Samsung SDI swings to operating loss in 2025 on weak EV demand SEOUL, February 02 (AJP) - Samsung SDI swung to an operating loss in 2025 as a prolonged slowdown in electric-vehicle demand and shifting policy conditions in the United States and Europe weighed on performance, the battery maker said on Monday. In a regulatory filing, the company reported an operating loss of 1.72 trillion won for the year, reversing an operating profit of 363.3 billion won in 2024. Revenue fell 20 percent to 13.27 trillion won from 16.6 trillion won a year earlier. Fourth-quarter revenue reached 3.86 trillion won, up 26.4 percent from the previous quarter and 2.8 percent from a year earlier, while the operating loss narrowed to 299.2 billion won, roughly half the level recorded in the third quarter. Battery sales totaled 3.6 trillion won in the quarter, rising 28.4 percent quarter on quarter and 1.6 percent year on year. The battery division posted an operating loss of 338.5 billion won. Samsung SDI forecast that the global EV battery market excluding China will grow about 6 percent this year, citing looser green policies in North America and Europe and automakers’ adjustments to electrification strategies. Demand for ESS batteries is expected to continue rising for power-grid applications and backup systems, supported by expanding investment in artificial intelligence data centers. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-02 14:37:35 -
Tighter loans fuel demand for smaller apartments SEOUL, February 2 (AJP) - Strong demand for homes along the Han River in Seoul has driven up prices of small or midsize apartments, as they are relatively affordable and eligible for larger loans. According to transaction data of real estate compiled by KB Kookmin Bank and released on Monday, the average price of apartments measuring 60 to 85 square meters in about a dozen districts south of the Han River stood at 1.83 billion won (about US$1.3 million) in January, up 0.96 percent from the previous month, surpassing 1.8 billion won for the first time. These districts include Dongjak, Gangnam, Gangdong, Gangseo, Geumcheon, Gwanak, Guro, Seocho, Songpa, Yangcheon, and Yeongdeungpo. In about 14 districts north of the river, prices averaged 1.14 billion won in January, up 0.83 percent from December. The increase comes after the government introduced a series of stringent measures in June and October last year to curb real estate speculation, limiting loans to 600 million won for apartments priced at 1.5 billion won or below. Separately, President Lee Jae Myung recently posted a series of messages on social media, signaling a strong resolve to rein in the overheating housing market, though it remains to be seen whether his efforts will succeed. 2026-02-02 14:36:53 -
Uzbekistan and Türkiye partner to modernize workforce and combat poverty SEOUL, February 02 (AJP) - Uzbekistan and Türkiye have established a new model of institutional cooperation to enhance human capital and improve public administration in the labor market. The partnership focuses on professional development for government officials to accelerate poverty reduction and ensure sustainable employment in both nations. The Embassy of Uzbekistan in the Republic of Korea said Monday that a Memorandum of Understanding (MoU) was signed by A.X. Rakhmonov, Director of the Center for the Professional Development of Employees under the Uzbek Ministry of Poverty Reduction and Employment, and Dr. Elif Gökçearslan, President of the Center for Labour and Social Security Training and Research (ÇASGEM) under the Turkish Ministry of Labour and Social Security. The agreement serves as a strategic framework for sharing expertise in occupational safety, human resource management, and labor market regulation. Under the document, the two countries will jointly design training programs, methodological materials, and master classes to build professional competencies. The cooperation also includes the involvement of specialists in scientific research and the preparation of expert evaluations for sectoral policies. This initiative follows the Fourth Meeting of the Türkiye-Uzbekistan High-Level Strategic Cooperation Council held in Ankara on January 29, where President Shavkat Mirziyoyev and President Recep Tayyip Erdoğan pledged to deepen bilateral ties. During that summit, the two leaders set a target to increase trade volume to 5 billion dollars and signed multiple agreements covering healthcare, education, and social protection. The labor partnership is specifically designed to align Uzbekistan’s professional qualification system with international benchmarks. Practical efforts are already underway to translate Turkish professional standards for 22 high-demand occupations into the Uzbek language. This alignment is expected to eventually lead to the mutual recognition of qualification certificates, expanding opportunities for citizens to work legally and safely in both countries. Officials stated that the cooperation will be conducted with full transparency, with project updates regularly published on official platforms. While the MoU establishes general principles and does not impose immediate financial obligations, it allows for the future involvement of international funds and third-party institutions to scale up joint workforce projects. 2026-02-02 14:23:21 -
K-pop acts walk away without trophies but leave mark on Grammy stage SEOUL, February 02 (AJP) — K-pop artists left the 68th Grammy Awards without major wins on Sunday, but delivered high-profile performances and historic nominations that underscored the genre’s expanding presence on the global music stage. The awards ceremony was held at the Crypto.com Arena in Los Angeles, bringing together leading figures from the international music industry. BLACKPINK member ROSÉ became the first K-pop female solo artist to receive a Grammy nomination, earning a nod for Song of the Year for her collaborative track “APT.” with Bruno Mars. The award went to Billie Eilish for “Wildflower.” Despite missing out on the trophy, ROSÉ performed “APT.” with Mars during the ceremony, marking her Grammy stage debut and the first main-stage performance by a K-pop female soloist at the event. Released in October 2024, “APT.” is a pre-release single from ROSÉ’s first full-length album rosie. The song drew global attention upon release, debuting at No. 1 on Spotify’s Global chart and entering the UK Official Singles Chart Top 100 at No. 4 — the highest ranking achieved by a K-pop female solo artist. According to Spotify, the track surpassed 1 billion streams within 100 days of release and has since reached 2.2 billion cumulative streams. Rookie girl group KATSEYE also appeared on the Grammy stage as part of the Best New Artist showcase, performing “Gnarly.” The group, formed through K-pop-style training by HYBE and Geffen Records, received nominations for Best New Artist and Best Pop Duo/Group Performance for “Gabriela.” The Best New Artist award went to Olivia Dean, while Best Pop Duo/Group Performance was awarded to Cynthia Erivo and Ariana Grande for “Defying Gravity.” 2026-02-02 14:16:52 -
'Golden' takes home one grammy out of four nominations SEOUL, February 02 (AJP) - Expectations were high, but the climb proved steep for “Golden,” the original soundtrack from Netflix’s animated hit K-Pop Demon Hunters, at this year’s Grammy Awards. Despite entering the ceremony with four nominations, “Golden” secured just one trophy — Best Song Written for Visual Media — during the Grammys’ Premiere Ceremony. The track was also nominated for Song of the Year, Best Pop Duo/Group Performance, and Best Remixed Recording (Non-Classical). The coveted Song of the Year, one of the Grammys’ top General Field honors recognizing songwriting excellence regardless of commercial success, ultimately went to Billie Eilish for “Wildflower.” Released on June 20, 2025, “Golden” had drawn significant attention ahead of the ceremony following its strong global reception. Powered by the popularity of K-Pop Demon Hunters, the track became the first K-pop song to top both the Billboard Hot 100 and the UK Official Singles Chart, a rare crossover achievement for the genre. K-Pop Demon Hunters ranked among Netflix’s most-watched films of 2025 and emerged as a notable piece of global pop culture. With “Golden’s” Grammy win — in addition to its Golden Globe victory and an Academy Award nomination for Best Original Song — the film has already delivered a landmark moment for K-pop on the global awards stage. The Best Song Written for Visual Media award is presented to songwriters rather than performers, making all contributors to the track official Grammy Award winners. The song was co-written and produced by EJAE (Lee Jae), Teddy, 24, and producer collective IDO, comprising Lee Yu-han, Kwak Jung-kyu and Nam Hee-dong. The win marked the first Grammy Award for K-pop songwriters or producers for their creative work — a milestone widely noted within the global music industry. The Song of the Year category featured a particularly competitive lineup, including “Manchild” by Sabrina Carpenter, “luther” by Kendrick Lamar and SZA, “APT.” by Rosé and Bruno Mars, “DtMF” by Bad Bunny, “Anxiety” by Doechii, and “Abracadabra” by Lady Gaga. While “Golden” did not take home the night’s top songwriting honor, its nomination — coupled with its historic win — underscored the expanding presence of K-pop creators in the Grammys’ most competitive categories, long dominated by Western artists. 2026-02-02 14:16:36 -
Hanwha Ocean hosts Canadian officials as submarine bid advances SEOUL, February 02 (AJP) - A Canadian business and government delegation led by Stephen Fuhr, Canada’s minister of state for defense procurement, visited Hanwha Ocean’s shipyard in Geoje on Monday as Ottawa advances plans for its Canadian Patrol Submarine Project (CPSP). Fuhr, who oversees procurement for the program estimated at about 60 trillion won, toured Hanwha Ocean’s assembly facilities with roughly 30 Canadian government and industry representatives, reviewing automated production systems including robotic welding lines. Executives from major Canadian shipbuilders — Ontario Shipyard, Irving Shipbuilding, Davie and Seaspan Shipyard — also joined the visit. The delegation later boarded the submarine Jang Young-sil, currently undergoing sea trials, to review its operational capabilities. Hanwha Ocean CEO Kim Hee-cheol and company executives, along with South Korea’s Vice Defense Minister Lee Doo-hee and other officials, guided the tour. The minister also visited construction areas where follow-on submarines are being built, showing interest in the yard’s production capacity and advanced manufacturing systems. Fuhr coordinates Canada’s defense procurement policy and represents the government on major projects including CPSP, overseeing strategic requirements, industrial participation and cooperation with allies. He also supervises the Defense Investment Agency, launched last year as part of efforts to streamline and accelerate military procurement. Hanwha Ocean and affiliate Hanwha Systems signed memorandums of understanding on Jan. 26 in Canada with five local firms in sectors including steel, artificial intelligence and space, outlining cooperation and investment plans to support a CPSP bid. Kim described Fuhr’s visit as an on-site review of Hanwha Ocean’s proposal, adding the company aims to provide the Royal Canadian Navy with an optimal solution while building long-term partnerships with Canadian industry. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-02 14:15:27 -
Samsung mandates English for documents between overseas and Korean units SEOUL, February 02 (AJP) - Samsung’s major overseas units will adopt English as the sole language for documents exchanged both internally and with South Korea-based operations, part of a push to reduce inefficiencies from using multiple languages, the group said on Monday. According to an internal notice, Samsung will require documents shared between domestic and overseas operations at three key affiliates — Samsung Electronics, Samsung Display and Samsung Biologics — to be written exclusively in English. The shift replaces the current practice of using both Korean and English. The policy will take effect next month and is expected to be gradually expanded to other affiliates. Samsung has already promoted English as the standard language for internal reports and meeting materials at overseas units since 2023. Some business divisions have moved ahead of the broader policy. Samsung Electronics’ Device Solutions division, including its foundry business, along with Samsung Biologics and Samsung Bioepis, have reportedly been conducting meetings and preparing documents in English since last year. The move reflects the growing weight of Samsung’s overseas operations. As of the end of 2024, Samsung Electronics employed 137,350 staff outside South Korea, exceeding the 125,297 employees based domestically. The policy aims to streamline communication across Samsung’s global network as its workforce and operations become increasingly international, Samsung officials said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-02 14:02:18 -
Mobile shopping drives record online spending in South Korea SEOUL, February 02 (AJP) - South Korea’s online shopping transactions reached a record high last year, with cross-border online trade also expanding, official data showed on Monday. According to a report from the National Data Portal, total online shopping transactions rose 4.9 percent from a year earlier to 272.4 trillion won. Mobile shopping continued to dominate spending, rising 6.5 percent to 211.14 trillion won. Food services accounted for the largest share of online transactions at 15.3 percent, followed by groceries at 13.9 percent and travel and transportation services at 12.5 percent. Growth strengthened toward the end of the year. In the fourth quarter, online shopping transactions rose 6.1 percent year on year to 71.26 trillion won, driven by food services, up 12.3 percent; groceries, up 8.0 percent; and travel and transportation services, up 8.5 percent. Mobile transactions in the October–December period increased 6.9 percent to 55.22 trillion won, while spending on agricultural, livestock and fishery products rose 14.9 percent. December alone saw online shopping transactions rise 6.2 percent from a year earlier to 24.29 trillion won. Mobile shopping also grew 6.2 percent to 18.8 trillion won, with mobile’s share of total online spending unchanged at 77.4 percent. The strongest monthly growth came from automobiles and auto supplies, which surged 66.4 percent. Grocery purchases rose 10.2 percent and food services gained 9.1 percent. Mobile spending growth was likewise led by food-related purchases, including agricultural, livestock and fishery products, up 14.5 percent, groceries, up 13.6 percent, and food services, up 9.1 percent. Cross-border e-commerce also expanded. Online direct overseas sales by Korean sellers rose 16.4 percent to 3 trillion won. Sales declined to ASEAN markets, down 4.4 percent, but increased to the United States, up 26.3 percent, and China, up 10.9 percent. The report attributed overseas demand partly to the global popularity of Korean culture, with growth led by cosmetics, up 20.4 percent, groceries, up 49.2 percent, and records, videos and musical instruments, up 7.0 percent. Meanwhile, South Korean consumers’ direct online purchases from overseas retailers rose 5.2 percent to 8.51 trillion won. Purchases from the United States fell 17.6 percent, while imports from China and Japan increased 14.9 percent and 8.8 percent, respectively. Spending increased on household and automotive goods, up 12.7 percent, groceries, up 6.2 percent, and clothing and fashion products, up 2.5 percent. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-02 13:53:33 -
Seoul wakes up to winter wonderland, traffic largely unaffected SEOUL, February 02 (AJP) -Heavy snow blanketed Seoul overnight, turning the city into a winter wonderland, but the harsh weather caused little disruption to the Monday morning commute. Authorities lifted the heavy snow advisory at 4 a.m. While snow-covered sidewalks slowed pedestrians, many commuters left home earlier than usual and moved cautiously to avoid delays. The Seoul Metropolitan Government said overnight snow removal operations kept major roads largely clear, preventing significant traffic congestion during peak commuting hours. In central Seoul, workers were seen clearing snow at Gyeongbokgung Palace early Monday, following the overnight snowfall. 2026-02-02 11:21:31 -
Hanwha Aerospace signs $922mln deal to supply Chunmoo rocket systems to Norway SEOUL, February 02 (AJP) - A joint effort to bolster Nordic defense reached a major milestone as Hanwha Aerospace secured a contract to supply the Chunmoo Multiple Rocket Launcher System (MRLS) to the Norwegian Armed Forces. The agreement, valued at approximately 922 million dollars, marks the first major defense contract for the South Korean company in 2026. The Chunmoo system is a multi-caliber rocket artillery platform capable of firing different munitions from two separate launch pods. It can launch twelve 239mm guided rockets at targets up to 80 kilometers away or deploy 600mm tactical ballistic missiles with a range of approximately 290 kilometers. Designed for high mobility, the system is mounted on an 8x8 armored truck and can fire its first rounds within minutes of arriving at a position. This modular design allows it to deliver double the firepower of similar single-pod systems, providing a versatile solution for both precision strikes and wide-area saturation. According to the South Korean defense contractor, the contract was signed in Oslo on January 30 by Jae-il Son, President and CEO of Hanwha Aerospace, and Gro Jære, Director General of the Norwegian Defence Material Agency (NDMA). The ceremony was attended by high-ranking officials from both nations, including Kang Hoon-sik, Chief of Staff to the President of the Republic of Korea, and Marte Gerhardsen, State Secretary of Norway. Under the terms of the deal, Hanwha Aerospace will provide 16 Chunmoo launch vehicles along with a package of precision-guided missiles and integrated logistics support. This procurement is part of a larger 2-billion-dollar defense project by Norway to modernize its long-range strike capabilities. The selection of the Chunmoo follows nearly ten years of cooperation between the Norwegian military and Hanwha Aerospace. Norway previously purchased 52 K9 VIDAR self-propelled howitzers and 14 K10 ammunition resupply vehicles in 2017. The company's ability to deliver that equipment on time and provide reliable maintenance support served as a key factor in the Norwegian government’s decision to adopt the Chunmoo system. To meet the specific needs of the Norwegian Army, the Chunmoo system has been optimized for the Arctic environment. The hardware is designed to remain reliable in extreme low temperatures and heavy snow, ensuring it can operate across the difficult terrain of the Nordic region. It is also built to be fully compatible with Norway's existing defense infrastructure and fire control networks. "I believe Norway's selection of the Chunmoo system is a result of the trust built up through the supply of K9 self-propelled howitzers," said Jae-il Son. "We remain committed to contributing to the long-term security of the Nordic region through close cooperation with Norway." With this latest agreement, Norway joins a growing list of nations operating the Chunmoo MRLS, which currently includes South Korea, Poland, Estonia, and several countries in the Middle East. Hanwha Aerospace stated it intends to expand its partnership with local Norwegian industries through joint development projects and local testing programs. 2026-02-02 11:16:35