Journalist
Lee Hugh
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Asian markets mixed; Nikkei retreats after record rally, KOSPI holds ground SEOUL, January 15 (AJP) — Asian equity markets were mixed on Wednesday, with Japanese stocks pulling back after a powerful start to the year, while Seoul shares held firm despite a more hawkish tilt from the Bank of Korea. Japan’s Nikkei 225 fell 0.77 percent to 53,923.94 as of 10:23 a.m. local time, as investors locked in profits following an uninterrupted January rally. The recent surge had been fueled by expectations of a snap election that could reinforce Prime Minister Sanae Takaichi’s stimulus-driven policy agenda. In Seoul, the benchmark KOSPI rose 0.67 percent to 4,754.66, while the tech-heavy KOSDAQ edged down 0.03 percent to 941.90 in early trade. Markets were largely unfazed by the Bank of Korea’s first rate-setting meeting of the year, which kept the base rate unchanged at 2.5 percent for an eighth consecutive month. However, policymakers struck a firmer tone by removing references to “the possibility of a rate cut” in their post-meeting statement, signaling a pause in the easing cycle. Among large-cap stocks, Samsung Electronics rose 0.07 percent to 140,400 won ($96), while SK hynix slipped 0.81 percent to 736,000 won. Samsung Biologics climbed 2.39 percent to 1,973,000 won, while LG Energy Solution fell 0.39 percent to 388,000 won. Automakers outperformed, with Hyundai Motor gaining 2.55 percent to 422,000 won and Kia advancing 3.04 percent to 147,350 won. Shipbuilders and heavy industry shares extended recent gains, led by Hanwha Ocean, which surged 3.80 percent to 147,400 won. HD Hyundai Heavy Industries rose 2.44 percent to 630,000 won. The U.S. dollar strengthened 3.1 won to 1,469.60, despite rare interventionist rhetoric from the U.S. Treasury Department echoing Seoul’s concerns over excessive volatility while losing slightly against the Japanese yen. Elsewhere in Asia, China’s Shanghai Composite slipped 0.11 percent to around 4,121.5 in early trading. 2026-01-15 11:31:25 -
Buses back running in Seoul after strike ends SEOUL, January 15 (AJP) -After two days of disruption, Seoul commuters were relieved to find buses back in service Thursday morning following an overnight wage deal. The Seoul City Bus Labor Union and the Seoul City Bus Transport Operators Association accepted a mediation proposal at around 11:50 p.m. during a second post-adjustment meeting hosted by the Seoul Labor Relations Commission. Under the agreement, wages for 2025 will rise by 2.9 percent, while the retirement age will be extended from 63 to 64 starting in July, and further raised to 65 in July 2027. Reform of the wage system to reflect ordinary wages was excluded from the deal. Following the agreement, the union called off the strike, and the Seoul Metropolitan Government lifted emergency transportation measures, restoring bus operations across the capital. 2026-01-15 11:04:21 -
Actor Lee Byung-hun appears on US late-night talk show SEOUL, January 15 (AJP) - Actor Lee Byung-hun appeared on NBC's late-night talk show "Late Night with Seth Meyers" earlier this week, sharing behind-the-scenes stories from his latest films. After walking on stage to loud cheers at a studio in New York on Tuesday, Lee recounted a few episodes from the set of award-winning director Park Chan-wook's film "No Other Choice," drawing laughter with witty answers that garnered repeated applause from the audience. "I'm the type of person who asks a lot of questions. To portray my characters well, I often end up bugging directors about every tiny detail," Lee said. Recalling that most directors usually accepted only a few of his ideas, he said, "While working on No Other Choice, used almost nine out of ten," which made him "feel good but also more responsible." Lee's appearance on the primetime show comes amid his rising global recognition, having recently been named to The New York Times Magazine's list of "Great Performers," which honors outstanding actors. 2026-01-15 10:43:26 -
Hyundai Motor's Palisade named North America's top utility vehicle of the year SEOUL, January 15 (AJP) - Hyundai Motor said on Thursday that its Palisade sport utility vehicle has been named this year's North American Utility Vehicle of the Year, citing the model’s upgraded hybrid system and strong appeal in the U.S. market. Finalists in the 2026 utility category included the Hyundai Palisade, Lucid Gravity and Nissan Leaf. Hyundai said the Palisade emerged as the winner following close competition. Judges cited the Palisade’s next-generation hybrid system, which improves both performance and fuel efficiency, as well as its spacious interior designed to meet North American consumer preferences, the company said. The Palisade’s new hybrid system features a transmission with two integrated motors and can be paired with multiple engine configurations, allowing performance and fuel economy to be optimized by vehicle type, Hyundai said. Electrification-focused technologies also enhance driving performance, ride comfort and the in-vehicle experience. Jeff Gilbert, chairman of the award jury, said the Palisade “sets the standard for a 21st-century family vehicle,” pointing to its interior space, driving dynamics and range of technologies. The North American Car of the Year awards, established in 1994, are among the auto industry’s most closely watched honors. 2026-01-15 10:37:57 -
South Korea trade chief tells US officials, lawmakers Coupang probe is not 'trade issue' SEOUL, January 15 (AJP) - South Korea’s trade minister Yeo Han-koo has told U.S. officials and lawmakers that a domestic probe into e-commerce firm Coupang should not be interpreted as a diplomatic or trade issue, officials here said on Thursday. Yeo made the remarks during a visit to Washington from Jan. 11 to 14, where he held outreach meetings with U.S. lawmakers, government officials and industry representatives, according to the Ministry of Trade, Industry and Energy. In a series of meetings and roundtables with U.S. senators and representatives, trade associations, think tanks and business officials, Yeo focused on addressing U.S. concerns over South Korea’s digital legislation, which has recently drawn attention in Washington. He warned against portraying the Coupang issue as a “crackdown on a U.S. company,” saying it would be inappropriate to broadly interpret the matter as a diplomatic or trade dispute, the ministry said. South Korean authorities are investigating e-commerce giant Coupang over the handling of a large-scale personal data breach and related business practices, a case that has drawn public attention and scrutiny from U.S. policymakers. South Korean authorities are examining how the breach occurred and whether Coupang, listed in the U.S., complied with reporting and protection obligations under the Korean law. Seoul has stressed that the probe is a domestic regulatory matter aimed at protecting consumers and should not be viewed as a trade or diplomatic dispute. Yeo also met with U.S. Trade Representative Jamieson Greer to discuss the status of implementing bilateral non-tariff commitments outlined in a joint fact sheet released after a South Korea-U.S. summit in November. With a ruling pending on whether reciprocal tariffs imposed by the U.S. administration are unlawful, Yeo told U.S. officials that South Korea — which reached a tariff agreement with Washington — should not be treated unfavorably compared with other countries, the ministry said. Yeo also met Russell Vought, director of the White House Office of Management and Budget, to review follow-up steps after tariff negotiations and agreed to strengthen investment cooperation in key industries, including shipbuilding. “Since the tariff negotiation agreement, expectations in the United States for bilateral trade and investment cooperation have generally been high, but risk factors such as digital trade issues and the U.S. Supreme Court ruling needs to be carefully managed,” a ministry official said. The official added it is important to clearly explain South Korea’s policy intentions and background to the U.S. administration, Congress and industry. 2026-01-15 10:18:44 -
Hong Sang-soo's latest film set for world premiere in Berlin SEOUL, January 15 (AJP) - Director Hong Sang-soo's latest film has been invited to compete at this year's Berlin International Film Festival, which opens next month. "The Day She Returns" will get its world premiere in the festival's non-competitive section, organizers said Wednesday, praising Hong's 34th feature for offering a "subtle reflection on the acting profession itself." The film revolves around a woman who completes an independent film, gives three interviews about it, then struggles to recall them when asked to reenact the conversations in her acting class. Hong has now been invited to the festival for the seventh consecutive year since 2020, having won awards five times for his films such as "A Traveler's Needs" (2024), "The Novelist's Film" (2022), "Introduction" (2021), "The Woman Who Ran" (2020) and "On the Beach at Night Alone" (2017). The 76th Berlin International Film Festival will kick off its 10-day run on Feb. 12. "The Day She Returns" is expected to be released here in the first half of this year. 2026-01-15 10:03:00 -
BOK stays pat for eighth month as weak won and high debt constrain policy SEOUL, January 15 (AJP) - The Bank of Korea (BOK) kept its benchmark interest rate unchanged at 2.5 percent on Thursday, extending its policy pause to an eighth consecutive month as policymakers remain constrained by a weak currency, elevated household debt and divergent inflation pressures. At its first rate-setting meeting of 2026, the central bank decided to hold the base rate steady, unchanged since a 25-basis-point cut in May last year. The decision reflects what officials have described as a growing policy bind in a prolonged liquidity-rich environment. While the Korean won has remained near crisis-level weakness — raising concerns about imported inflation and eroding the relative appeal of Korean assets — the scale of domestic household debt continues to limit the central bank’s room to maneuver. Household debt stands at around 2,000 trillion won ($1.36 trillion), a level seen as prohibitive for any rate hike. At the same time, the BOK has little scope to resume a rate-cutting cycle, particularly as expectations build that the Bank of Japan may deliver a second consecutive rate hike later this month — a move that could exacerbate regional currency volatility and put additional pressure on the won. The won, which had drawn temporary support overnight from rare interventionist rhetoric by the U.S. Treasury Department echoing Seoul’s concerns, remained under pressure in early Seoul trading. The dollar was quoted at 1,467.5 won, up 1 won on the day as of the morning session. U.S. Treasury Secretary Scott Bessent said in a post on X following a meeting with Deputy Prime Minister and Finance Minister Koo Yun-cheol that the won’s weakness was not aligned with South Korea’s economic fundamentals, an unusually direct comment from Washington that briefly steadied market sentiment. 2026-01-15 09:52:23 -
LG CNS invests in Cha Biotech to scale AI-driven healthcare SEOUL, January 15 (AJP) - LG CNS said on Thursday it is moving to scale up its digital healthcare business through a strategic partnership with Cha Bio Group. The IT services firm, led by Chief Executive Hyun Shin-gyun, said it signed a partnership agreement with Cha Biotech. The deal includes a 10 billion won ($7.4 million) equity investment and cooperation on artificial intelligence transformation and digital transformation projects. Hyun and Cha Won-tae, vice chairman of Cha Bio Group, attended the signing ceremony along with other executives from both sides. Cha Bio Group is a healthcare conglomerate spanning hospitals, pharmaceuticals, biotechnology research and medical services. The group also operates hospitals and medical businesses overseas, including in the United States, Singapore, Australia and Japan. LG CNS said it will establish a regular consultative body with Cha Bio to drive key AI and digital transformation initiatives. In the near term, the partners plan to migrate the group’s cloud infrastructure and build a smart big data platform that integrates data across operations. They also plan to upgrade drug manufacturing facilities with AI-based systems to improve efficiency throughout the production process. Over the mid to long term, the companies plan to jointly commercialize a “connected healthcare service,” a strategic growth area for Cha Bio. The service would use healthcare-specific AI models to analyze health and lifestyle data generated by hospitals, homes and wearable devices. LG CNS said it plans to deploy “EXAONE,” a large language model developed by the LG AI Research Institute, to build a healthcare-focused smaller language model and implement a big data platform to collect and manage medical, genetic and lifestyle data. 2026-01-15 09:42:08 -
Korean founders told to prioritize profit over growth at Silicon Valley summit SEOUL, January 15 (AJP) - South Korean startup founders hoping to break into the United States market were advised to abandon aggressive growth strategies in favor of proving their "unit economics," as investors at a major industry gathering here warned of a tightened global capital environment. The advice was delivered at the UKF 82 Startup Summit 2026, held from January 9 to 12 at the Fox Theatre in Redwood City. The event drew approximately 4,000 participants, making it the largest gathering of South Korean entrepreneurs and venture capitalists ever held in North America. Speakers at the four-day summit described a distinct shift in investor sentiment compared to the boom years of 2021. Eric Kim, managing partner at Goodwater Capital, noted that the venture capital market in 2026 has moved away from rewarding sheer scale. "Unlike in 2021, the market is now strictly dominated by performance and numbers," Kim said. "The IPO market shrinking to 70 to 80 percent of its peak is evidence of this." Kim urged founders to focus on "unit economics"—the direct revenues and costs associated with a business model—rather than user acquisition at all costs. Despite the stricter financial climate, Silicon Valley investors pointed to South Korea as a critical market for identifying future tech trends. Kim described the country as a "leading indicator" for the global industry, citing high population density and advanced digital infrastructure. He mentioned rapid-growth companies such as Coupang and Viva Republica, the operator of Toss, as examples of South Korean firms that successfully scaled in a competitive environment. "Goodwater Capital currently allocates about 10 to 15 percent of its investments to South Korea," Kim said. "We see it not just as a content creator, but as an investment opportunity where trends often emerge before they hit the global stage." The summit was organized by the United Korean Founders (UKF), a non-profit group that has expanded significantly since its inception. Jeong Sae-ju, co-chair of UKF and executive chairman of Noom, described the organization's origins as a casual social gathering in 2018, where founders met in a living room to share "oden" (fish cake) soup and discuss their struggles in the U.S. market. To acknowledge these roots, organizers set up a networking area at the venue styled after a "pocha," or Korean street food tent, serving fish cakes and spicy rice cakes to attendees. "It started with founders eating oden soup and sharing their struggles," Jeong said. "It has now evolved into an ecosystem where global tech leaders, the government, and VCs collaborate." The South Korean government also used the summit to announce expanded support for startups in the Bay Area. Noh Yong-seok, the 1st Vice Minister of SMEs and Startups, attended the event to inaugurate the new Startup Venture Campus (SVC). The facility is designed to provide office space, housing assistance, and administrative support for early-stage South Korean companies entering the U.S. Noh stated that the government is shifting its focus from indirect support to direct, on-the-ground assistance to help founders connect with local networks. 2026-01-15 09:30:53 -
BLACKPINK to release new album next month SEOUL, January 15 (AJP) - K-pop girl group BLACKPINK will release a new album next month. "Deadline," the quartet's third mini album, was teased by their management agency YG Entertainment on Thursday, ahead of its release slated for Feb. 27. "We'd like to thank fans who have waited for quite a long time," the agency said in a press release. The much-anticipated album is expected to reflect the memories and moments of their ongoing world tour, also called "Deadline." The tour kicked off in Goyang, Gyeonggi Province last July and has included more than 30 performances in about 16 cities around the world. BLACKPINK will hold a three-day concert in Tokyo from Friday, followed by the tour's final stop in Hong Kong a week later. 2026-01-15 09:13:23