Journalist

Lee Hugh
  • Gwangju Police Book 50-Something Woman for Drunk Driving After Red-Light Violation
    Gwangju Police Book 50-Something Woman for Drunk Driving After Red-Light Violation Gwangju Bukbu Police Station said Thursday it booked a woman in her 50s, identified only as A, on suspicion of driving under the influence in violation of the Road Traffic Act. Police said she is accused of driving about 2 kilometers while intoxicated, leaving a restaurant in Yongbong-dong, Buk-gu, at about 4 p.m. Wednesday and heading to an area near the Unam 2-dong Administrative Welfare Center. Officers said she ran a red light while driving through an intersection and was caught by nearby patrol police who witnessed the violation. Her blood alcohol concentration measured between 0.03% and 0.08%, a level that triggers license suspension, police said. Police said they are investigating the circumstances of her drinking.* This article has been translated by AI. 2026-01-29 09:00:00
  • Auction to Shut Down Secondhand Marketplace Service After 25 Years
    Auction to Shut Down Secondhand Marketplace Service After 25 Years Auction’s secondhand marketplace, a service credited with helping shape South Korea’s online used-goods trade, will shut down after 25 years as mobile-first rivals dominate the market. According to the industry on Wednesday, Auction will end both the used-goods section on its website and its used-goods marketplace app starting March 31. New item listings in the app will stop first, on Feb. 26. An Auction official said the company decided to close the service to reassign staff and resources to “more efficient services.” The used-goods marketplace was closely tied to Auction’s origins. The company launched in 1998 as South Korea’s first auction-focused site, introducing a model in which individuals sold used items through open bidding. Auction opened the used-goods marketplace section in 2001. The service was also seen as helping standardize escrow-style payments — releasing funds only after a buyer confirms a purchase — as a way to reduce fraud that was common in community-based trading forums such as Joonggonara. Listings ranged from rare collectibles to home appliances and clothing, drawing sellers and buyers nationwide. Auction introduced an app in 2013. Auction’s position weakened in the late 2010s as mobile-optimized platforms such as Karrot, which is built around local neighborhoods, and Bunjang, which targets interest-based trading, gained ground. Users moved to specialized apps offering simple chat functions and GPS-based in-person transactions. Data from app and retail analytics service Wiseapp Retail showed that last month the number of unique users on major secondhand platforms was 23.4 million for Karrot, 4.73 million for Bunjang and 1.95 million for Joonggonara. Over the same period, app usage rates — the share of installers who actually used the app — were 69% for Karrot, 39% for Bunjang and 27% for Joonggonara. Wiseapp Retail said Auction’s used-goods marketplace was not included because its user base was not large. Industry observers said the shutdown reflects a push by Shinsegae Group’s e-commerce unit, which operates Gmarket and Auction, to improve efficiency. One industry official said a general e-commerce platform’s secondhand section can be less efficient in a market dominated by specialized apps, calling the move a strategic choice to drop inefficient services and focus on core open-market competitiveness.* This article has been translated by AI. 2026-01-29 08:58:05
  • U.S. Treasury chief: No trade deal with South Korea until National Assembly approves
    U.S. Treasury chief: No trade deal with South Korea until National Assembly approves U.S. Treasury Secretary Scott Bessent said there will be no trade agreement with South Korea until its National Assembly approves it. Bessent made the remarks in a CNBC interview on Tuesday local time when asked whether President Donald Trump was raising tariffs on South Korea because it had not approved a trade deal. His comments came as Trump has warned he could restore higher tariffs, citing delays in the National Assembly’s passage of a “special law on investment in the United States.” Bessent was seen as again urging lawmakers to act. “The signal from the Trump administration is: sign the trade agreement,” Bessent said. Asked whether South Korea would face a 25% tariff until parliamentary approval, he did not give a direct answer, saying, “I think this will help move things forward.” Earlier, Trump wrote on Truth Social on Sunday that because South Korea’s legislature had not enacted “our historic trade agreement,” he was raising reciprocal tariffs on autos, lumber, pharmaceuticals and “all other” items to 25% from 15%. But the next day, Trump said the two countries would “work out a solution,” suggesting the tariff increase could be put on hold through talks. * This article has been translated by AI. 2026-01-29 08:57:56
  • Dispute Grows Over Proposed South Jeolla-Gwangju Administrative Merger
    Dispute Grows Over Proposed South Jeolla-Gwangju Administrative Merger Controversy over a proposed administrative merger between South Jeolla Province and the city of Gwangju is spreading across the region. The Samhyang-eup Council of Local Institutions and Social Groups in Muan County said the recent merger agreement between the provincial government and Gwangju was “a rushed deal” that “gave up South Jeolla’s interests.” In a statement released Jan. 28, the council criticized an announcement that South Jeolla Gov. Kim Young Rok and Gwangju Mayor Kang Ki Jung agreed to name the merged local government “Jeonnam-Gwangju Special City,” with the abbreviated name “Gwangju Special City,” and to operate offices across the eastern region, Muan and Gwangju without designating a main headquarters. The council said the decision “betrays residents’ common sense and expectations.” The council said the move reversed a tentative agreement reached just a day earlier, on Jan. 25, at a “Gwangju-South Jeolla administrative merger meeting” to place the main headquarters at the South Jeolla Provincial Government building in Muan. It called the reversal an act that undermined the merger’s stated principles of coexistence and balanced development. It also argued that deciding such a major issue through a meeting among a few local leaders, without sufficient discussion with residents, city and provincial councils, amounted to an abuse of authority that ignored democratic process. It said opinions from South Jeolla’s 22 cities and counties and their residents were excluded. The council said Muan is already the administrative center of South Jeolla because the provincial government is located there, and that it can best ensure continuity and efficiency in regional administration. It added that the Namak and Oryong new towns have grown into a major living area where housing, commerce and education functions are concentrated. If the merger proceeds without a confirmed main headquarters, the council warned, it could lead to the collapse of existing commercial districts, threaten small businesses, deepen economic stagnation and accelerate population decline. It said the issue is directly tied to the future of Samhyang-eup and the wider Muan area. Saying it cannot accept a merger without a main headquarters, the council urged officials to immediately confirm the South Jeolla Provincial Government building as the main headquarters of the proposed “Jeonnam-Gwangju Special City.” It also called for disclosure of a clear administrative center and division of authority, rather than vague language about “balanced operation,” and urged the government and National Assembly to specify in merger legislation that the provincial government building will serve as the core of the integrated regional administration. The council said it will continue to take action to protect South Jeolla’s interests and residents’ pride. * This article has been translated by AI. 2026-01-29 08:57:23
  • South Korean Investor Deposits Top 100 Trillion Won for First Time as Stocks Rally
    South Korean Investor Deposits Top 100 Trillion Won for First Time as Stocks Rally South Korea’s stock market surge has pushed investor deposits above 100 trillion won for the first time. The Korea Financial Investment Association said investor deposits totaled 100.2826 trillion won as of Jan. 27. That is up 12.4535 trillion won from 87.8291 trillion won at the end of last year. Investor deposits are funds clients keep at brokerage firms to trade stocks, funds and other investment products. Because the money can move into the market at any time, it is treated as standby cash and is widely used as a gauge of investor sentiment. Historically, rising deposits have been read as a sign that expectations for stronger indexes are growing and that more money could still flow into the market. The latest increase comes as the rally continues, with money appearing to shift from other assets such as savings products and real estate. As the Kospi and Kosdaq have repeatedly hit record highs this year, profits taken by investors are also seen accumulating as deposits. As sentiment has strengthened, margin investing has also increased. As of Jan. 27, outstanding margin loans stood at 29.2450 trillion won, including 18.7847 trillion won in the Kospi market and 10.4603 trillion won in the Kosdaq market. The Kospi is up 22.7% this year, breaking above 5,000 for the first time and reaching as high as 5,130. Its market capitalization totals 4,276 trillion won. The Kosdaq has gained 22.48% since the start of the year, topping 1,000 points for the first time since the 2000 “IT bubble” and settling around 1,130.* This article has been translated by AI. 2026-01-29 08:54:00
  • Hanwha Systems’ AI Smart Warship Design Wins Lloyd’s Register Approval in South Korea First
    Hanwha Systems’ AI Smart Warship Design Wins Lloyd’s Register Approval in South Korea First Hanwha Systems said Wednesday it became the first company in South Korea to receive an approval in principle for a “smart multipurpose combat ship” concept design from Lloyd’s Register (LR), one of the world’s three major classification societies. Lloyd’s Register is considered one of the top three classification societies, along with the American Bureau of Shipping (ABS) and DNV of Norway. It operates naval shipbuilding rules aligned with NATO standards and is widely trusted by naval customers, the company said. Classification certification is a third-party verification that a vessel is designed and built safely under international regulations and naval construction standards, and is viewed as a key requirement for entering export markets. Hanwha Systems has promoted its “smart battleship” as a next-generation concept for crewed naval vessels. The company said the approval formally recognizes the design’s safety and reliability under international naval standards. The smart multipurpose combat ship, which the company describes as a realization of its smart battleship concept, is a 2,000-ton-class vessel built around artificial intelligence-based software and designed for future maritime combat environments. Hanwha Systems said it integrated more than 40 years of maritime systems expertise and smart maritime solutions into the model, including an AI-based combat system; an intelligent integrated machinery control system that monitors propulsion components and predicts failures; a cockpit-style integrated bridge that can be operated by as few as two crew members; a four-face fixed multifunction radar using active electronically scanned array technology; unmanned systems solutions; and stealth design. The company said the stealth-shaped hull is intended to reduce detection and improve survivability, while cutting required crew to about half compared with conventional crewed ships. It said that could lower labor and long-term operating and maintenance costs and help address manpower shortages faced by navies worldwide. Hanwha Systems said it plans to expand its export-oriented portfolio by developing additional ship models of 2,000 tons or less, applying Lloyd’s Register standards from the design stage to secure safety and design credibility and to meet certification requirements of potential customer navies. Yoo Moon-ki, head of Hanwha Systems’ maritime business division, said the smart multipurpose combat ship is “a next-generation maritime platform that raises both efficiency and sustainability in naval operations through AI and automation.” He added, “With this AIP, we will proactively respond to future needs of global navies and set a new standard for K-maritime defense.”* This article has been translated by AI. 2026-01-29 08:51:19
  • Hyundai Motor Breaks Ground on Immersive Safety Experience Center at Ulsan Plant
    Hyundai Motor Breaks Ground on Immersive Safety Experience Center at Ulsan Plant Hyundai Motor has broken ground on an immersive safety experience center to be built at its Ulsan plant. The automaker said Wednesday it held a groundbreaking ceremony Tuesday at the Ulsan plant with about 200 labor and management representatives in attendance, including Choi Young Il, head of domestic production and chief safety and health officer; Jung Won Dae, vice president in charge of production support; and union leaders Lee Jong Cheol and Lee Chang Min. Set to open in the second half of this year, the H-Safety Experience Center will be a safety media facility covering 280 pyeong on the Ulsan plant site. It will be open to employees, partner-company workers and members of the public. Hyundai Motor said the center will offer training content using augmented reality, holograms and special effects. It also plans, for the first time among safety experience centers in South Korea, to recreate the Ulsan plant’s real production sites and hazardous situations using projection-mapping technology. Visitors will move through six zones — a welcome zone, safety zone, traffic safety zone, accident experience zone, risk assessment zone and emotional safety zone — to take part in training built around real-world accident cases. In the safety zone, visitors will be able to experience a smoke-filled fire scene using special effects. In the accident experience zone, they can watch a life-size forklift collision simulation. After it opens, Hyundai Motor plans to provide immersive safety training to about 20,000 people a year. “The H-Safety Experience Center is a symbolic place that shows Hyundai Motor’s commitment to top-level safety,” a company official said. “We expect it to help everyone build lasting safety awareness by using a range of new technologies.” 2026-01-29 08:51:00
  • LS Electric Deploys Smart Outage Management System for Distributed Power Grids
    LS Electric Deploys Smart Outage Management System for Distributed Power Grids LS Electric said it has commercialized a smart distribution solution designed to help manage distributed power grids more reliably, stepping up its push into the fast-growing market. The company said on Jan. 29 that it recently completed installation of its self-developed Outage Management System (OMS) at a district electricity business office in the Hakha district of Yuseong-gu, Daejeon, operated by CNCITY Energy. The OMS digitizes the status and condition of power equipment to support distribution operations. LS Electric said it is the first case in which a privately developed distribution-operations solution has been commercialized at a district electricity business site. The company described OMS as an intelligent system that helps operators quickly identify affected areas and equipment during outages. Beyond outage response, LS Electric said it is expected to enable integrated, digital management of equipment status and history across the distribution network, supporting equipment life prediction and maintenance optimization. LS Electric said it plans to work with CNCITY Energy to accelerate technology development for next-generation distributed distribution networks, citing the reliability demonstrated through the OMS project. An LS Electric official said OMS is drawing attention as an essential solution not only for district electricity business offices but also for large factories and industrial infrastructure. The official said the system has already received positive reviews at multiple industrial sites and will serve as a core solution for AI-driven transformation of power systems while helping improve distributed-grid stability.* This article has been translated by AI. 2026-01-29 08:48:19
  • Heungkuk Securities Raises Hyundai Mobis Target on Electronics, Robotics Shift
    Heungkuk Securities Raises Hyundai Mobis Target on Electronics, Robotics Shift Heungkuk Securities said Wednesday that Hyundai Mobis’ fourth-quarter results met market expectations and that recovering tariff-related costs has reduced uncertainty, while its business shift toward automotive electronics and robotics continues. The brokerage raised its target price to 540,000 won from 500,000 won and kept its “buy” rating. Hyundai Mobis posted fourth-quarter revenue of 15.4 trillion won and operating profit of 930.5 billion won. Revenue rose 4.7% from a year earlier, while operating profit fell 5.6%. Heungkuk Securities said output from automaker customers slipped 1.4%, but a favorable exchange-rate environment, a higher share of high value-added automotive electronics parts in manufacturing, and price increases in the after-sales service business lifted sales. On profitability, the firm recovered about 2 trillion won of roughly 2.5 trillion won in parts-tariff costs incurred last year, sharply reducing the tariff impact. However, the after-sales service unit reflected about 870 billion won in tariff costs and about 600 billion won in one-time quality costs, pushing its operating margin down to 22.7% from the prior quarter. Heungkuk Securities said tariff-related pressure should ease gradually starting this year as after-sales prices rise and tariff recoveries accelerate. Ma Geon Woo, an analyst at Heungkuk Securities, said Hyundai Mobis’ actuator business for Boston Dynamics is being developed using the company’s existing core technologies, limiting the burden of research and development and capital spending. He said the company could expand supply beyond actuators to additional parts for humanoid robots, creating business opportunities as physical AI develops.* This article has been translated by AI. 2026-01-29 08:48:00
  • Samsung defends record results for 2025, but falls behind local rival in chip profitability
    Samsung defends record results for 2025, but falls behind local rival in chip profitability *Updated with additional earnings details and stock quote SEOUL, January 29 (AJP)-Samsung Electronics, South Korea's No. 1 tech behemoth, raked in strong operating income and record sales in the final quarter and full year of 2025, but fell short of expectations and in the memory race versus local rival SK hynix, which shifted faster toward an AI-centric architecture and client base. According to its finalized results disclosed Thursday, for the quarter ended December the company reported 16.4 trillion won ($1.14 billion) in chip (DS) operating profit, up as much as 9.4 trillion won from the previous quarter and 13.5 trillion won from the same period a year ago. Its staggering performance however has been paled by its rival. On the previous day, rival local pure-play memory maker SK hynix delivered 19.17 trillion won in operating profit on sales of 80.8 trillion won during the same period, flashing an operating margin of 58 percent — the industry's highest — due to the company’s fab concentration on high-bandwidth memory (HBM) that powers multi-functional AI accelerators and hyperscale data centers. Chip sales reached 44 trillion won in the fourth quarter, up 33 percent on year and 46 percent on quarter, and 130 trillion won for full-year 2025, up 17 percent. Of that, memory sales totaled 37 trillion won for the fourth quarter and 104.1 trillion won for full-year 2025. Mindful of its lateness in the HBM race, Samsung Electronics said in its earnings statement that it will address “customers' demand by timely shipment of competitive HBM4” and continue expanding AI-related product sales while “proactively addressing AI-related NAND demand.” For full-year 2025, the company generated 24.9 trillion won in chip operating profit, up 9.8 percent on year. SK hynix reported operating profit of 47.2 trillion won on sales of 97.15 trillion won for full-year 2025, underscoring the gap in profitability driven by its focus on AI-related and other high-margin chips. Beyond chip sector, Samsung’s smartphone operation - Device eXperience (DX) division - posted an operating profit of 1.3 trillion won ($963 million) for the fourth quarter, nearly halved from 3.5 trillion won recorded in the previous quarter as new model launch effects fizzed out. The figure also fell significantly from the 2.3 trillion won earned in the same period of 2024, highlighting a year-on-year drop of over 40 percent. The display panel business maintained its earnings stability, reporting an operating profit of 2.0 trillion won. This remained flat compared to the 2.0 trillion won posted a year earlier, as robust demand for high-end smartphone panels and automotive applications offset broader market volatility. Samsung’s audio-and-automotive unit Harman recorded 0.3 trillion won in operating profit, due to increased in-vehicle product supply in Europe and seasonal strength in audio products. Looking ahead, Samsung said global tariff risks and geopolitical uncertainty are expected to persist in 2026. It said the DS division plans to leverage its strength as an integrated “one-stop solution” provider spanning logic, memory, foundry and packaging to secure leadership in AI semiconductors, while DX will respond by diversifying its supply chain and optimizing operations, expanding AI-enabled products and delivering more seamlessly integrated AI experiences. Net cash amounted to 100.61 trillion won at the end of December, compared with 93.32 trillion won a year-ago period. Shares were down 0.7 percent at 161,300 won as of 10:30 a.m. 2026-01-29 08:47:17