Journalist
Lee Hugh
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South Korea, Sweden sign clean energy cooperation pact SEOUL, January 19 (AJP) - South Korea’s Ministry of Climate, Energy and Environment signed a memorandum of understanding with Sweden on Monday to expand cooperation on the clean energy transition and power systems. The MOU was signed at the Westin Josun Seoul in central Seoul. Attendees included Lee Ho-hyun, the ministry’s second vice minister, and Maya Lundbäck, Sweden’s state secretary for energy at the Ministry of Climate and Enterprise. The ministry said South Korea and Sweden face shared challenges, including expanding renewable energy and meeting rising electricity demand, and aim to build a complementary partnership based on their respective strengths. Under the MOU, the two countries agreed to cooperate broadly on the clean energy transition, reaffirming their commitment to the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius and achieving carbon neutrality by 2050. Areas of cooperation include expanding renewable energy deployment; strengthening power grids and supply stability; improving power system flexibility; private-sector nuclear cooperation, including small modular reactors; and exchanges on green transition technology and policy. In follow-up talks after the signing, officials said they would discuss ways to deepen cooperation on clean energy deployment policies, grid development and expansion, supply stability, renewable energy integration into power systems, and nuclear power, including SMRs. They also plan to explore public-private cooperation through a South Korea-Sweden energy roundtable involving industry, academic and research experts, focusing on offshore wind power, grid expansion, technology development and policy support. “Going forward, we will actively support practical public-private cooperation by combining the two countries’ policy experience and industrial capabilities across renewables, SMRs and power grids,” Vice Minister Lee said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-19 14:00:34 -
No South Korean casualties reported in high-speed train collision in Spain SEOUL, January 19 (AJP) - No South Korean casualties have been reported in a high-speed train collision in Spain, the Ministry of Foreign Affairs here said on Monday. The South Korean diplomatic mission in Spain continues to monitor the situation and is verifying whether any South Korean nationals were affected. So far, there have been no reports or confirmed cases of South Korean casualties," an official there said. At least 21 people have been killed after two high-speed trains derailed and collided in southern Spain on Sunday, according to local media. The death toll could rise, with about 100 people injured. 2026-01-19 13:53:09 -
South Korea fines 5 foreign financial firms for illegal short selling SEOUL, January 19 (AJP) - South Korean financial authorities have imposed a combined 3.97 billion won ($2.9 million) in administrative fines on six firms, including five foreign financial companies, for illegal short selling, officials said Monday. The Securities and Futures Commission under the Financial Services Commission decided on Oct. 15 to fine Shinhan Asset Management 370.6 million won for violating short-selling rules. Details of the decision were disclosed on the FSC website on Dec. 12. Shinhan Asset Management was found to have placed a sell order on March 14, 2023, for 5,000 shares of EcoPro that it did not own, with a transaction value of about 1.85 billion won. Among overseas institutions, Norway-based Pareto Securities received the largest penalty of 2.26 billion won. The firm violated short-selling rules after placing a sell order on Nov. 23, 2022, for 178,879 shares of Samsung Electronics it did not hold, valued at about 10.91 billion won. Canada’s Alberta Investment Management was fined 546.9 million won, while U.S.-based asset manager Invesco Capital Management was ordered to pay 532.3 million won. Northern Trust Hong Kong was fined 141.7 million won, and Singapore’s sovereign wealth fund GIC Private Limited was fined 120.6 million won. Authorities said many of the cases stemmed from a sweeping inspection of illegal short selling by global investment banks conducted between November 2023 and March 2025, ahead of the resumption of short selling. Since short selling fully resumed in March, authorities have operated a real-time monitoring system for short selling. Short-selling rules have also been a key issue as South Korea seeks inclusion in the Morgan Stanley Capital International developed markets index. After short selling resumed, MSCI upgraded its assessment of short-selling accessibility in South Korea from “minus,” indicating a need for improvement, to “plus.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-19 13:51:08 -
Korean legislature passes bipartisan resolution condemning deadly crackdown in Iran SEOUL, January 19 (AJP) - South Korea’s National Assembly has joined an international chorus condemning Iran’s deadly crackdown on anti-government protests, amid widely varying estimates of civilian casualties. A rare bipartisan resolution denouncing the Iranian government’s “indiscriminate and harsh suppression” and calling for “responsible action by the international community” to protect civilian lives was passed Friday. The motion, introduced by Rep. Lee Un-ju, a Supreme Council member of the ruling Democratic Party of Korea, was signed by 77 lawmakers from both sides of the aisle. “As a country that directly experienced the horrific consequences of state violence through events such as the May 18 Democratic Movement, the Republic of Korea cannot turn a blind eye to the current situation in Iran,” Lee said in a statement. She added, “I hope this resolution will serve as a small spark of hope for the people of Iran, who are suffering under economic hardship and the suppression of freedom and democracy.” Rep. Kim Sang-wook, another Democratic Party lawmaker who supported the resolution, stressed the need for international solidarity. “It is time for the international community to stand together,” Kim said, adding that “the universally recognized values across the world are the right to life and the right to self-determination.” Kim argued that Iran’s government “is violating both of these rights” and said the international community must work collectively to protect Iranian civilians. Casualty figures remain disputed. The Sunday Times reported on Saturday, citing accounts from local doctors, that between 16,500 and 18,000 people have been killed and more than 330,000 injured. Other estimates cited by rights groups range from several thousand to significantly higher figures, though independent verification remains difficult. Iranian President Masoud Pezeshkian said Monday that “an attack on our nation’s Supreme Leader is equivalent to a full-scale war against the Iranian state.” He also blamed “longstanding hostility and inhumane sanctions imposed by the U.S. government and its allies” for the country’s economic hardship. U.S. President Donald Trump said in an interview with Politico on Saturday that it was time to find “new leadership” for Iran — remarks widely interpreted as referring to Supreme Leader Ayatollah Ali Khamenei, who has ruled for 37 years. According to the Associated Press, Khamenei said in a speech broadcast by state television on Saturday that “forces linked to Israel and the United States hurt people, killing thousands,” while denying that Iranian authorities were responsible for a violent crackdown. The remarks marked the first time Khamenei directly addressed casualty figures linked to the anti-government protests, which have continued since Dec. 28, 2025. 2026-01-19 12:15:38 -
Hot Stock: Robotics emerge as retail favorite as U.S. tariff risks weigh on chip heavyweights SEOUL, January 19 (AJP) - Shares of robotics and automation companies surged Monday as investor funds rotated out of semiconductor stocks and into so-called “physical AI” plays, amid renewed uncertainty over U.S. semiconductor trade policy. Hyundai Motor jumped 12.5 percent to 465,000 won ($315.3), while Doosan Robotics soared 20.13 percent to 108,600 won, sharply outperforming the broader market as sentiment toward chipmakers weakened on tariff concerns. The shift followed a fresh warning shot from Washington. U.S. President Donald Trump signed a proclamation imposing a 25 percent tariff on certain AI semiconductor products manufactured by Taiwan Semiconductor Manufacturing Co. and imported into the United States before being re-exported to third countries. The White House also signaled the possibility of broader, second-phase tariffs on semiconductors and derivative products as part of its push to expand domestic manufacturing. Against this backdrop, investors moved into sectors viewed as less directly exposed to trade frictions, including robotics, automation and next-generation mobility. Hyundai Motor’s rally briefly lifted the automaker past LG Energy Solution to become the third-largest company by market capitalization on the Korea Exchange. As of 10:50 a.m., the stock had touched an intraday high of 466,000 won, marking a fresh 52-week high and pushing its market cap above 94 trillion won. Robot-related shares posted broad gains. Doosan Robotics led the advance. On the KOSDQ, Hurim Robotics jumped 23.26 percent, Hyundai Movex rose 13.45 percent and Yuil Robotics gained 9.88 percent. Market participants attributed the rally to growing expectations that robotics could emerge as the next market-leading theme, filling the vacuum left by semiconductors, which had driven the market’s recent advance before stalling on renewed trade uncertainty. Although U.S. memory chipmaker Micron Technology hit a record high last week on news of insider buying, investor sentiment toward Korean chipmakers deteriorated after Washington renewed pressure on companies that do not expand manufacturing investment in the United States, including the possibility of punitive tariffs. Hyundai Motor Group drew particular attention after Boston Dynamics’ humanoid robot Atlas, a core asset in the group’s robotics portfolio, received a major robotics award at CES earlier this month, raising confidence in robotics-led future mobility. The company has outlined plans to deploy Atlas robots at its Metaplant America facility in Georgia from 2028 and scale production to 30,000 units annually by 2030. “The focus of AI has shifted dramatically in just one year,” said Lee Seung-hoon, head of research at IBK Investment & Securities. “Comparing CES 2025 and CES 2026, AI has moved from generative technologies that answer questions to physical AI that sets goals, executes tasks and interacts with the real world. Hyundai Motor Group’s Atlas went beyond demonstrations, presenting a roadmap for mass production and real-world deployment in manufacturing, logistics and services.” Doosan Robotics’ sharp rise came without company-specific disclosures, underscoring that gains were driven largely by theme-based rotation rather than near-term earnings factors. The company specializes in collaborative robots for industrial and commercial use and is seen as a direct beneficiary of rising automation demand in North America and Europe. Market observers noted that the reshuffling of market-cap rankings reflects a broader transition in leadership themes. In 2021, NAVER occupied the No. 3 spot during the pandemic-driven digital boom. In 2022, LG Energy Solution surged on electric-vehicle battery demand, while SK hynix later reclaimed the No. 2 position on high-bandwidth memory optimism. 2026-01-19 12:11:55 -
KOSPI bucks global stock weakness on robotics-led rally SEOUL, January 19 (AJP) — Asian stock markets opened the week on a weaker footing amid rising geopolitical uncertainty, as tensions flared between the European Union and the United States over Greenland. South Korean stocks, however, moved against the regional trend, buoyed by strong gains in robotics-related shares. The benchmark KOSPI opened at 4,829.40, down 0.23 percent from the previous close, but quickly reversed course. As of 11:10 a.m., the index was up 0.9 percent at 4,883.72. The tech-heavy KOSDAQ rose 0.7 percent to 961.3. Retail investors drove the rebound, posting net purchases of 56.6 billion won ($192 million). Institutions and foreign investors remained net sellers, offloading 13 billion won and 118 billion won, respectively. Among blue chips, Samsung Electronics rose 300 won to 149,100 won, while SK hynix gained 16,500 won to 772,500 won. Decliners included Samsung Life Insurance, down 4.10 percent to 163,600 won; LG Energy Solution, down 1.41 percent to 385,500 won; and Samsung Biologics, down 1.39 percent to 1,920,000 won. Hyundai Motor surged 12.59 percent to a fresh intraday high of 465,000 won, extending a rally that has lifted the stock more than 40 percent since the start of the year. Analysts attributed the gains to renewed optimism following CES 2026 and a series of upward revisions to target prices, reinforcing expectations for medium- to long-term growth as the automaker accelerates its transition into robotics manufacturing. Investor sentiment has also been supported by Hyundai’s plan to deploy Boston Dynamics’ Atlas robots at its Metaplant America facility in Georgia starting in 2028 and scale production to 30,000 units annually by 2030. Kia advanced 3.51 percent to 156,400 won. Robot-related shares rallied sharply in morning trade. Doosan Robotics jumped 20.35 percent, or 18,400 won, to 108,800 won, after earlier touching 110,900 won — a fresh 52-week high. The collaborative robot maker’s rally was driven by expectations that expanding orders from North America and Europe will translate into stronger earnings. Defense and aerospace stocks also traded higher, with Hanwha Aerospace gaining 2.31 percent to 1,329,000 won. Shipbuilding and heavy industry shares showed solid momentum, as HD Hyundai Heavy Industries rose 2.09 percent to 635,000 won and Hanwha Ocean added 1.09 percent to 148,600 won. In currency markets, the dollar was little changed at 1,475.1 won, down 0.4 won. In Japan, the Nikkei 225 retreated 1.25 percent to 53,260.73 in morning trading on profit-taking. 2026-01-19 11:30:50 -
Cold wave advisory issued for Seoul SEOUL, January 19 (AJP) - A cold wave advisory was issued for Seoul and most other parts of the country on Monday. The advisory, issued at 10 a.m. by the Korea Meteorological Administration, takes effect at 9 p.m. as freezing temperatures are forecast overnight. After an unusually warm spell over the weekend, Seoul is expected to see morning lows plunge to -13 degrees Celsius on Tuesday, with daily highs remaining below freezing throughout this week. Such an advisory is issued when morning temperatures are expected to drop by more than 10 degrees Celsius from the previous day, or at least 3 degrees below the seasonal average, or when the morning low is forecast to remain at or below -12 degrees for two or more consecutive days. Some provincial areas including the mountains of Gangwon Province were hit with more severe cold wave warnings. 2026-01-19 11:07:25 -
Celltrion's Zymfentra gains preferred drug status on major U.S. healthcare formulary SEOUL, January 19 (AJP) - Celltrion's Zymfentra, the world's only subcutaneous infliximab treatment, has secured preferred drug status on the formulary of Evernorth Health Services, a subsidiary of U.S. healthcare giant Cigna Group. The listing marks a significant milestone for the South Korean biopharmaceutical company as it seeks to accelerate sales of the autoimmune disease treatment in the world's largest pharmaceutical market. Cigna operates Express Scripts, one of the three largest pharmacy benefit managers in the United States, and Cigna Healthcare, a top-10 U.S. insurer. Celltrion's U.S. unit had previously secured a contract with Express Scripts to list Zymfentra as a preferred medication. The Evernorth listing builds on that foundation, allowing Cigna-affiliated insurance subscribers to access Zymfentra without the complex administrative procedures typically required for prescription medications. Since its U.S. launch in 2024, Zymfentra has recorded an average monthly prescription growth rate of 31 percent. Institutional prescriptions, including those from hospitals, surged nearly fivefold in December compared with the same month a year earlier. "With both Zymfentra and Inflectra now listed on major U.S. insurer formularies, we expect sales growth to accelerate sharply based on our product competitiveness and prescriber preference," a Celltrion official said. Celltrion plans to leverage its expanding autoimmune disease portfolio, including recently launched biosimilars Steqeyma and Avtozma, to capture greater market share in the United States through intensified marketing efforts. 2026-01-19 10:29:36 -
EXO set to drop first full-length album in over two years SEOUL, January 19 (AJP) - K-pop boy band EXO are returning with their eighth full-length album on Monday. "REVERXE," set for release at 6 p.m. on major music-streaming sites, is the group's first full-length album in about two years and six months. The album contains nine songs including its title track "Crown," a hard-dance track about protecting a loved one, symbolized as a crown. To promote the album, a showcase is scheduled for 7:30 p.m. at Kyunghee University in Seoul later in the day and also livestreamed on YouTube and TikTok. 2026-01-19 10:27:09 -
Hyundai Glovis installs SpaceX's Starlink to enhance vessel safety, connectivity SEOUL, January 19 (AJP) - Hyundai Glovis said Monday it has begun installing low-Earth-orbit satellite communications service Starlink across its fleet, aiming to accelerate digital transformation in shipping while enhancing vessel safety management. The logistics and shipping arm of Hyundai Motor Group is rolling out Starlink on 45 company-owned vessels, including car carriers and bulk carriers. Installation will be carried out sequentially, starting with ships calling at local ports this year. Starlink is a low-Earth-orbit satellite communications service operated by U.S. space company SpaceX. By using small satellites orbiting about 550 kilometers above Earth, it can offer faster and more stable data connections than conventional geostationary satellites, which operate at roughly 36,000 kilometers, Hyundai Glovis said. Following the adoption of Starlink, the time required to download 1.4 gigabytes of video content during ocean crossings fell from about 15 minutes to around two minutes, the company said. Hyundai Glovis plans to build a high-capacity data environment at sea and improve communications quality to levels closer to those onshore. Improved connectivity is also expected to strengthen emergency response capabilities by enabling real-time communication with shore-based teams in situations such as equipment malfunctions, crew illness or injury, and deteriorating weather conditions during long-distance voyages. “Introducing low-Earth-orbit satellite communications is core infrastructure to improve both safety and efficiency in ship operations,” the company said in a press release. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-19 10:18:31