Journalist

Lee Hugh
  • Asian stocks start week buoyant, led by Seoul and Tokyo
    Asian stocks start week buoyant, led by Seoul and Tokyo SEOUL, January 12 (AJP) — Asian equity markets opened the week on a strong note Monday, with Seoul and Tokyo leading gains as optimism over robotics and artificial intelligence continued to lift technology and industrial value chains across the region following last week’s CES showcase. Japan’s Nikkei 225 jumped 1.6 percent to 51,939.9 in early trading, supported by gains in exporters and technology shares amid a weaker yen and renewed optimism over global demand. In Seoul, the benchmark KOSPI rose 1.3 percent to 4,646.7 as of 10:17 a.m., extending last week’s rally after the index broke above the 4,500 mark for the first time. The tech-heavy KOSDAQ added 0.8 percent to 955.3. Investor flows were mixed. Individual investors were net buyers of about 311.8 billion won ($231 million), while foreign investors sold roughly 439.4 billion won and institutions added around 74.0 billion won, according to exchange data. Among large caps, Samsung Electronics gained 0.9 percent to 140,900 won, while SK hynix climbed 1.9 percent to 758,000 won, extending gains on expectations of sustained demand for high-performance memory used in artificial-intelligence servers. Defense-related stocks also moved higher. Hanwha Aerospace rose 0.7 percent to 1,229,000 won amid expectations of increased global defense spending and persistent geopolitical tensions. Hanwha Ocean stood out among gainers, surging 9.2 percent to 146,800 won, as investors priced in stronger earnings prospects driven by rising LNG carrier prices and potential offshore plant orders. Doosan Enerbility advanced 5.1 percent to 88,700 won. “LNG carrier prices are expected to rise further this year, while several offshore projects are scheduled for order decisions in the first half,” said Kim Dae-sung, an analyst at DS Investment & Securities. “These factors could significantly improve profitability.” In currency markets, the Korean won weakened past 1,460 per U.S. dollar, giving back year-end gains amid authorities’ efforts to stabilize the market and renewed dollar strength entering the new year. Elsewhere in Asia, China’s Shanghai Composite rose 0.9 percent to 4,120.4, as selective buying returned to industrial and state-owned enterprises. Hong Kong’s Hang Seng Index was slightly lower in early trade, with financial shares under mild pressure. 2026-01-12 11:44:29
  • K-pop anime wins two awards at Golden Globe Awards
    K-pop anime wins two awards at Golden Globe Awards SEOUL, January 12 (AJP) - Netflix's hit anime "KPop Demon Hunters" won two awards at the annual Golden Globes in the U.S. on Sunday. The 110-minute film by Korean-Canadian director Maggie Kang won "Best Motion Picture – Animated" and "Best Original Song -Motion Picture" at the 83rd prestigious awards ceremony in Beverly Hills, California, recognizing both excellence in international film and television. After earning three nominations about a month earlier including "Cinematic and Box Office Achievement," the film's triumph was widely expected as it had already secured two awards at the annual Critics Choice Awards in Santa Monica a week ago. "KPop Demon Hunters" tells the story of fictional K-pop superstars who possess secret powers to protect their fans from supernatural threats. The film's soundtrack has been hugely successful, spending several weeks in the top 10 of the Billboard 200 albums chart, with its main theme song "Golden" reaching the top spot on Billboard's Hot 100 singles chart. But director Park Chan-wook's much-anticipated film No Other Choice did not take home any honors, despite being nominated for multiple awards including the best non-English language film. 2026-01-12 11:20:29
  • DPs newly elected floor leader calls for unity ahead of local elections
    DP's newly elected floor leader calls for unity ahead of local elections SEOUL, January 12 (AJP) - The ruling Democratic Party (DP)'s newly elected floor leader Han Byung-do, has called for unity to build momentum for a resounding victory in the upcoming local elections slated for this summer. The three-term lawmaker Han Byung-do was elected on Sunday to replace Kim Byung-ki, who resigned late last year amid a spate of bribery allegations and other misconduct. In a press conference at the National Assembly in Seoul, Han said, "There is no room for division and conflict," urging unity to win the local elections in June and ensure the success of the current Lee Jae Myung administration. Expressing that he felt a "heavy sense of responsibility," Han added, "To earn the public's trust, we must join forces on issues that improve people's lives, as the public is watching." He said the ruling party's role is to bring the party, government, and presidential office together to adjust differences through discussion. Han also suggested that he is willing to talk with the main opposition People Power Party (PPP) on state affairs. "I'm ready to discuss and negotiate with opposition parties on all issues," he said, "unless they oppose solely for the sake of opposition." Han, widely considered among aides close to former President Moon Jae-in, will serve the remainder of Kim's term until May. 2026-01-12 10:27:08
  • Kia unveils EV2 compact SUV at Belgium motor show
    Kia unveils EV2 compact SUV at Belgium motor show SEOUL, January 12 (AJP) - Kia Corp. on Monday unveiled the EV2, a new compact electric sport-utility vehicle, making its global debut at the 2026 Brussels Motor Show in Belgium. Inside, the vehicle features a wide digital display layout comprising a 12.3-inch instrument cluster, a 5-inch climate control display and a 12.3-inch infotainment screen. Kia retained physical buttons for key controls and added ambient lighting and a column-mounted shift-by-wire system. The EV2 GT Line includes a contrasting-color interior package. In its long-range configuration, the EV2 is equipped with a 61.0-kilowatt-hour battery, delivering a driving range of up to about 448 kilometers on a single charge under the WLTP laboratory standard with 16-inch wheels. Fast charging from 10 percent to 80 percent takes about 30 minutes for the long-range version and 29 minutes for the standard model. The vehicle supports plug-and-charge functionality, as well as 11-kilowatt and 22-kilowatt AC charging. Kia said it improved handling and ride comfort by revising the steering gear ratio and applying hydro bushings to the rear coupled torsion-beam axle. Connectivity and convenience features include a Harman Kardon sound system, Digital Key 2, and wireless over-the-air software updates. Kia said it plans to disclose detailed specifications and launch timelines in South Korea in the first half of the year for the EV3 GT, EV4 four-door GT and EV5 GT. At the Brussels show, the automaker is displaying 19 electrified models, including the EV2. “The EV2 is the most compact of Kia’s dedicated EVs, yet it delivers a lively in-cabin experience and an emotional design,” Chief Executive Song Ho-sung said in a press release. He added the model is intended to help broaden the adoption of electric vehicles with space and features that exceed its segment. 2026-01-12 09:52:39
  • Lingering cold brings snow and rain across country
    Lingering cold brings snow and rain across country SEOUL, January 12 (AJP) - Snow or rain is expected nationwide, as cold wave warnings have been issued for most parts of the country including the capital region, the Korea Meteorological Administration said on Monday. Up to 8 centimeters of snowfall is expected in the central region including Chungcheong provinces, while Seoul, Incheon and Gyeonggi Province may see less than 1 centimeter of snowflakes. Morning lows hovered between -10 and -5 degrees Celsius, with icy winds making it feel even colder, and daytime highs are expected to offer little relief. The cold is expected to gradually ease through midweek. 2026-01-12 09:38:05
  • South Koreas HMM installs wind-assist propulsion system on oil tanker
    South Korea's HMM installs wind-assist propulsion system on oil tanker SEOUL, January 12 (AJP) - HMM said Monday it has become the first South Korean shipping company to deploy a Wing Sail wind-assist propulsion system, as vessel operators seek to curb fuel costs and comply with tightening environmental rules. Wind-assist propulsion systems harness wind power to supplement conventional engines and are regarded as an environmentally friendly technology. They are typically installed on vessels without deck cargo and have been adopted primarily by bulk carriers and tankers. The Wing Sail, developed by HD Korea Shipbuilding & Offshore Engineering, generates lift in a manner similar to an aircraft wing. The structure stands about 30 meters high and 10 meters wide. HMM installed the system on its 50,000-deadweight-ton MR tanker Oriental Aquamarine, which entered service with the technology on Jan. 5. Depending on weather and operating conditions, the company said the system could cut fuel consumption by up to 20 percent. Lower fuel use also reduces carbon emissions, helping ships comply with an expanding set of environmental regulations, including the Carbon Intensity Indicator, greenhouse-gas fuel-intensity standards and the European Union’s FuelEU Maritime rules. HMM said it plans to evaluate the system’s performance over the next two years using operational data. If the results meet expectations, the company may expand the technology across its bulk fleet. An HMM official said the deployment adds another emissions-reduction measure to the company’s bulk fleet, following similar efforts in its container fleet. "This reflects our broader push to improve both the scale and efficiency of shipping operations," the official said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-12 09:35:55
  • <New Years Greetings> Germanys bold infra budget invites Korean investment
    Germany's bold infra budget invites Korean investment I extend my warmest New Year’s wishes to the Korean people and readers of Aju Press. 2026 promises a year of dynamism and progress in German-Korean relations, a partnership built on shared values and a forward-looking spirit. A shining example of our cooperation is the Asia-Pacific Conference of German Business, returning to Korea in October, having last been held here in 2008. It connects German business leaders, high-ranking members of the German government, and Asia-Pacific representatives to discuss economic trends, geopolitical shifts, sustainability, and supply chain resilience in the crucial Asia-Pacific region. Also, the newly formed German-Korean parliamentary group will undertake its inaugural visit to Seoul, following the 2025 elections. Events such as the Economic Outlook in Busan demonstrate our commitment to also engaging with regions beyond Seoul. Globally, Germany remains steadfast in its commitment to multilateralism, the UN, and its unwavering support for Ukraine. Russia’s war of aggression highlights the interconnectedness of European and East Asian security: The DPRK’s support – providing up to 15,000 soldiers and substantial arms supplies in exchange for technology and financial aid – also threatens regional stability here. Increased pressure and full implementation of sanctions are needed to bring Russia to the negotiating table. Amidst these challenges, Germany is dedicated to maintaining peace and security on the Korean peninsula. We will strengthen this commitment by participating in the Freedom Shield exercises alongside the UNC, which we proudly acceded to in 2024, demonstrating the continued cooperationof the German Armed Forces. Domestically, Germany is embarking on a bold modernization course, investing over €128 billion in 2026. This investment reflects our dedication to stability, innovation, and a future-oriented approach, and is channeling funds to infrastructure, digitalization, climate protection, and security-fostering competitiveness and long-term prosperity. This budget signals our resolve: investment and a forward-looking perspective are paramount in times of global uncertainty. Korean firms will have many opportunities to continue interlocking their value chains and growth opportunities in Europe's largest economy. This year also marks 40 years of collaborative research and development between Korea and Germany. We will explore new joint research programs in key technologies like physical AI, secondary batteries or new materials. We are confident that continued scientific exchange will drive innovation and benefit both our nations. Culturally, 2026 will be a year of rich exchange. We begin with an exhibition of the works of German-Jewish surrealist painter Felix Nussbaum, opening on January 27 the (International HolocaustRemembrance Day) at the National Museum of Korean Democracy. Throughout the year, we anticipate a diverse range of performances, from the timeless elegance of German classical music,including performances by the Dresden Philharmonic, to the electrifying energy of electronic music pioneers Kraftwerk and the debut of German techno DJ Ben Klock in Korea. As we look ahead, the spirit of the Fire Horse – with its energy, ambition, and steady progress – will steer our partnership toward new opportunities. I am confident that 2026 will be a year of continued growth and collaboration, further strengthening the ties between Germany and Korea. *The author is the German ambassador to South Korea. 2026-01-12 09:07:08
  • SK On pushes into LFP batteries for early lead in Koreas energy storage market
    SK On pushes into LFP batteries for early lead in Korea's energy storage market SEOUL, January 12 (AJP) - South Korean battery maker SK On is moving forward with plans to establish a lithium iron phosphate, or LFP, battery production system for energy storage applications at its Seosan facility, according to industry officials on Monday. The company could place orders for LFP battery manufacturing equipment as early as the first quarter of this year, the officials said. It is expected to install an energy storage system, or ESS, battery production line in the second half of the year and begin producing LFP pouch cells early next year. LFP batteries, which are widely viewed as more thermally stable and cost-efficient than nickel-cobalt-manganese, or NCM, batteries commonly used in electric vehicles, have become the preferred chemistry for stationary energy storage systems. The Seosan complex currently operates two plants: Plant 1 with an annual capacity of 1 gigawatt-hour and Plant 2 with 6 gigawatt-hours. Plant 2 is expected to be repurposed for ESS battery manufacturing, with SK On likely to convert two of its four existing production lines for LFP battery output. Once the conversion is completed, SK On would hold South Korea’s largest domestic LFP battery production capacity, estimated at 3 gigawatt-hours. Industry observers view the move as a bid to secure an early foothold in the country’s fast-growing ESS market. Demand for energy storage systems in the country is accelerating, fueled by a government-led expansion of renewable energy infrastructure and rising private-sector needs, including power-hungry artificial intelligence data centers. The government has said it plans to build a cumulative 23 gigawatts of long-duration energy storage capacity by 2038. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-12 08:43:03
  • OPINION: America First, rewired as Trump mixes tech with national security
    OPINION: America First, rewired as Trump mixes tech with national security SEOUL, January 12 (AJP) - When the Donald Trump administration unveiled two national strategies in November and December 2025 — the AI-focused Genesis Mission and a new National Security Strategy (NSS) — I read them not as separate policy documents, but as a single statement of intent. Together, they recast “America First” and “Make America Great Again” for a technological age, fusing industrial policy, military power and economic coercion into a doctrine of what Trump calls “peace through strength.” After interviewing Trump, The New York Times observed that he believes the United States can maintain — and even strengthen — its global hegemony by exercising military, economic and political power without restraint. The NSS reflects that conviction. It treats advanced technology not merely as a driver of growth, but as the core infrastructure of national power — and it assumes that U.S. dominance in that domain is not optional, but essential. A 21st-Century Donroe Doctrine What struck me most was how the NSS reordered geography. The Western Hemisphere comes first, mentioned ahead of Europe, Asia and the Middle East, alongside a pledge to “reaffirm and implement the Monroe Doctrine.” This rhetorical move has already produced new shorthand: the “Donroe Doctrine,” merging Donald Trump with James Monroe, and “geotech,” the idea that technology and geopolitics are now inseparable. The administration’s logic is blunt. Crises reminiscent of the Cold War, especially near U.S. borders, must never be allowed to re-emerge. Arresting Venezuelan leader Nicolas Maduro — portrayed as a pro-China, pro-Russia rival — was framed as the first step in “putting our own house in order.” Trump went further, warning that “Colombia is very sick,” that “Cuba could collapse,” and that the United States would attack Iran if it killed protesters. In Venezuela’s case, Trump made the economic rationale explicit. Calling it “the country with the world’s largest oil reserves,” he said the United States would oversee production, extract oil and manage the proceeds, returning part of them to Venezuelans. I read this not as subtle geopolitics but as something closer to imperial logic: direct control of foreign resources deployed to solve strategic and fiscal problems at home. Europe Told to Take Care of Itself Europe fares little better in this worldview. The NSS says European countries should take “primary responsibility” for their own defense and operate as sovereign states. Trump dismissed fears of NATO’s collapse, arguing that Europe is wealthy enough to pay for its own security. Yet the imbalance remains hard to ignore. The European Union has roughly 600 million people and an economy far larger than Russia’s, yet still relies heavily on the United States while struggling to deter Vladimir Putin’s Russia of 140 million people. The NSS makes clear that Washington’s tolerance for this dependency is wearing thin. A New Year’s poll illustrates the shift. Only 15 percent of Germans now see the United States as a partner; 78 percent name France. In Germany, debates once considered unthinkable — conscription, nuclear power and even nuclear armament — are no longer confined to the fringes. Tariffs, Resources and the China Reality Check Trump’s economic nationalism also reveals its limits. His enthusiasm for what he once called “beautiful” tariffs ultimately collided with China’s dominance in rare earths. Beijing’s recent ban on rare earth exports to Japan exposed a vulnerability that tariffs cannot fix. The response has been increasingly territorial. The administration has floated Canada as a potential 51st state and openly discussed acquiring Greenland, an autonomous Danish territory and NATO ally. As Arctic sea routes open due to climate change, Trump has argued that Greenland is strategically essential — both to block China’s Arctic ambitions and to counter Russia’s nuclear submarines. Estimates suggest the island holds around 30 percent of global rare earth reserves. Four Hours as a Strategic Message The Maduro operation was not only about resources or regional order. It was also a demonstration. After the drawn-out wars in Iraq and Afghanistan, many Americans had come to view the U.S. military with skepticism. Capturing Maduro in what was described as four hours was presented as proof that U.S. special operations forces remain unmatched. The contrast with Russia’s grinding, four-year struggle in Ukraine could not have been clearer. The message was aimed at allies and adversaries alike: American military power still works — quickly and decisively. At the heart of the NSS is a sweeping redefinition of national security around technology. Advanced and emerging technologies are treated as pillars of national power, starting with artificial intelligence, described as “world-standard-setting” and foundational across both military and industry. The strategy identifies 10 priority areas: AI; quantum technology and secure communications; biotechnology as a strategic economic and military field; semiconductors and advanced manufacturing as national security assets; autonomous and unmanned systems; cyber and digital technologies; energy and infrastructure that power AI systems; communications networks such as 5G; and related critical technologies and materials. These technologies are no longer neutral. They are security assets, subject to export controls and strategic coordination, with China clearly in mind. The NSS insists that industrial and technological sovereignty is inseparable from national security — driving reshoring, supply-chain diversification and alliance-based standard-setting to entrench U.S.-centered technological dominance. Genesis Mission: An AI Moonshot A month before the NSS, Trump announced the Genesis Mission, a AI-driven effort to double U.S. scientific productivity and impact within a decade. Modeled explicitly on the Apollo program and the Manhattan Project, it aims to use AI to accelerate breakthroughs in fusion energy, drug development, advanced materials and aerospace. Decades of federal scientific data would be opened for AI training, while private companies and universities would gain access to supercomputers at the Energy Department’s 17 national laboratories. The goal is unmistakable: to widen the technological gap with China, not merely maintain it. China, Russia — and the Risks The NSS draws a clear distinction between rivals. China is described as a competitor “in all fields,” while Russia is treated primarily as a military threat. Trump’s push to end the Ukraine war quickly appears, to me, less about peace than about loosening the China–Russia alignment. The risks are obvious. A strategy built on technological primacy is likely to accelerate global rearmament and nuclear proliferation. That may explain why North Korea’s nuclear program barely features in the NSS at all. At CES, Siemens CEO Roland Busch captured the industrial stakes succinctly: “As an example of AI driving a major industrial transformation, a fusion power plant can be implemented as a digital twin.” What This Means for South Korea For countries like South Korea, the implications are unavoidable. I draw one conclusion above all: self-reliance must be paired with stronger alliances to secure strategic autonomy. That means strengthening AI and advanced technologies, reassessing military power — including debates that go beyond nuclear submarines — and aligning closely with U.S. technology and security frameworks. I do not believe the goal should be to become a top-three AI power. A more realistic path is a “1.5-power strategy” — riding on U.S. strength while securing independent capabilities. In a winner-take-all era, there is no comfortable third place, and often not even a second. South Korea must expand its economic base, including through a deeper Korea–Japan economic community modeled loosely on the EU, and rethink its approach to North Korea as U.S. security strategy shifts. The age of technology as neutral infrastructure is over. In Trump’s America, technology is power — and power, once again, is meant to be used. About the author: Kim Taek-hwan, director (Future Transition Policy Institute) A national vision strategist who studies civilization. He earned a doctorate at the University of Bonn in Germany and was a visiting scholar at Georgetown University in the United States. He has worked as a JoongAng Ilbo reporter and a university professor. He has written more than 20 books, including “The U.S.-China Economic Hegemony War and the Future of the Korean Peninsula,” and has given more than 350 special lectures at the National Assembly and Samsung Electronics, among others. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-12 07:25:58
  • Coupang financial units come under scrutiny as Seoul widens probe
    Coupang financial units come under scrutiny as Seoul widens probe SEOUL, January 11 (AJP) -South Korean regulators are moving to investigate Coupang’s financial units as part of pan-government scrutiny following the country’s largest-ever data leak, amid criticism over what is seen as a lack of response from the company’s U.S.-based headquarters as its customer base remains largely intact. The Financial Supervisory Service (FSS) will begin parallel formal inspections of Coupang affiliates that handle financial services . Officials said the regulator decided to upgrade a six-week on-site review of Coupang Pay into a formal inspection starting Monday. Once an on-site review is converted into a formal inspection, regulators are empowered to impose penalties, including fines, if the inspected company obstructs the process. Through the inspection, the FSS is expected to examine whether any payment information was exposed at Coupang Pay in connection with the broader Coupang data leak. Industry sources said Coupang Pay has not yet submitted relevant materials, leaving regulators unable to confirm whether payment data were compromised. The inspection will also review whether information sharing among Coupang affiliates violated laws such as the Credit Information Act and the Electronic Financial Transactions Act. The FSS appears to be seeking faster cooperation, viewing document submissions from Coupang as excessively delayed, according to industry officials. On the same day, the FSS will also convert its on-site review of Coupang Financial into a formal inspection. Regulators plan to examine the appropriateness of interest-rate calculations and potential violations of the Financial Consumer Protection Act related to the “Seller Growth Loan,” a lending product offered to merchants operating on Coupang’s platform. Its loans are said to be charging excessively high interest rates, averaging 14.1 percent annually and reaching as high as 18.9 percent. By comparison, the highest average rate among merchant-dedicated loans offered by another major platform company through financial institutions last year stood at 12.4 percent. According to FSS materials submitted to the office of Rep. Kang Min-kuk of the People Power Party, a member of the National Assembly’s Political Affairs Committee, Coupang Financial issued 18.174 billion won ($13.5 million) in Seller Growth Loans over roughly five months. As of the end of last year, the outstanding balance totaled 13.414 billion won. Since the product’s launch in July, Coupang Financial’s interest income from the loans is estimated to amount to several billion won. Regulators are expected to scrutinize whether Coupang’s market power as a dominant platform enabled it to charge excessively high rates, and whether a product structured with settlement payments as collateral was marketed in a manner similar to an unsecured credit loan. An FSS official said the agency plans to review “the appropriateness of loan-rate calculations and whether relevant laws, including the Financial Consumer Protection Act, were followed throughout the loan process.” Despite the fallout from the data leak, indicators suggest Coupang’s user base has remained resilient. According to MobileIndex data from IGAWorks, the number of new installations of the Coupang app totaled 526,834 in December, the highest monthly figure last year. The total was more than 120,000 higher than in November and marked the first time monthly installations exceeded 500,000 since March 2024. The figures run counter to expectations of a mass user departure following the data leak, which surfaced in late November. Industry analysts point to year-end shopping demand, intensified marketing and entrenched consumer habits as factors supporting continued app usage. Coupang’s dawn-delivery service and membership-based “lock-in” structure are also seen as reinforcing customer retention, even as scrutiny of the company’s data governance and regulatory compliance intensifies across government agencies. 2026-01-11 17:36:56