Journalist
Lee Hugh
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Alleged ringleader behind South Korean Student's brutal death nabbed in Thailand SEOUL, January 8 (AJP) - A key suspect in the brutal torture and killing of a South Korean college student in Cambodia last summer has been nabbed in Thailand, government authorities here said on Thursday. The Justice Ministry said a 42-year-old Chinese, the alleged mastermind of a Cambodia-based scam ring, was arrested in Pattaya, Thailand, the previous day, following a joint investigation with the National Police Agency and the National Intelligence Service. Between May and July last year, the crime ring allegedly lured South Koreans to Cambodia with offers of high-paying part-time work and then threatened them with guns and other weapons to force them to reveal bank account details including passwords and other sensitive personal information. Several months into the investigation of a case involving a South Korean college student, who traveled to the Southeast Asian country after being lured by an online employment scam in August and was later found to have been tortured to death, the ministry learned in November that the suspect had entered Thailand and promptly requested his arrest from Thai authorities. But the ministry said South Korea should seek a formal extradition and obtain approval from a Thai court to bring him back, as he is a Chinese national. The ministry vowed it will continue working hard to track down and arrest all suspects in collaboration with domestic and foreign authorities. 2026-01-08 14:17:25 -
South Korea's K Bank targets 85 trillion won assets by 2030 SEOUL, January 08 (AJP) - Choi Woo-hyung, CEO of South Korea's digital lender K Bank, said on Thursday the bank aims to become a “comprehensive digital finance platform” by 2030, targeting 26 million customers and 85 trillion won ($59 billion) in assets. Choi unveiled the mid- to long-term growth strategy at the bank’s 10th anniversary event. For this year, K Bank set a goal of reaching 18 million customers, supported by three growth pillars: platform-based services, small and medium-sized enterprise (SME) finance, and the expanded use of artificial intelligence and digital assets. The bank plans to deploy AI more widely across its operations and enhance its ability to respond to developments in digital assets, including stablecoins, Choi said. Founded in January 2016, K Bank began operations in April 2017 and has positioned itself as a pioneer in digital-only banking in South Korea. Its products include the country’s first non-face-to-face apartment mortgage loan, launched in 2020, a remote guaranteed loan for sole proprietors introduced in 2022, and a non-face-to-face real estate collateral loan rolled out in 2024. The bank’s customer base has surpassed 15 million, while assets and annual profits have continued to grow. Reflecting on the past decade, Choi said the bank had weathered repeated challenges but built a foundation for sustained growth. He added that K Bank would continue to focus on differentiated products and services driven by innovation. 2026-01-08 14:13:21 -
K-food finds lasting appeal in China through social media, localization SEOUL, January 08 (AJP) - Walking through university districts and busy shopping streets in major Chinese cities, signs for Korean-style food are increasingly hard to miss. Advertisements for “Korean-style lunch boxes,” “Korean fried chicken” and rabokki — ramyeon cooked with tteokbokki rice cakes — line storefronts catering to young consumers. Convenience stores prominently stock Shin Ramyun and Buldak Bokkeum Myun with Chinese-language labels, while dormitory shops sell Choco Pie and Pepero as everyday snacks. On Xiaohongshu, a popular Chinese social media platform, thousands of videos recreating Korean foods are uploaded daily. The content has helped introduce K-food even to consumers who have never visited South Korea, making its flavors and dishes widely recognizable. Unlike in the past, when Korean cuisine spread mainly through restaurants, K-food is now expanding rapidly via social media, television dramas, variety shows and food delivery platforms. Li Mingzi, a 23-year-old university student, said her interest began with street-food scenes in Korean dramas. “After that, I came across many kinds of Korean food through recommended videos on Bilibili and Xiaohongshu,” she said. Industry observers say a key factor behind K-food’s success in China is localisation tailored to local tastes. Chen, a chef at a Korean-style restaurant, said dishes are often adapted by toning down the heat of traditional gochujang and adding flavors familiar to young Chinese diners, such as mala-style spice or sweet soy-based sauces. At the same time, restaurants try to preserve defining elements of the cuisine, he said, such as mixing bibimbap before eating and maintaining the fermented kimchi flavor in kimchi stew. A survey of 100 Chinese respondents showed broad awareness of Korean food, with 93 percent saying they had at least some familiarity. Of those, 45 percent said they knew “basic information,” suggesting a sizable potential consumer base. Social media emerged as the main point of contact, cited by 78 percent of respondents, followed by Korean dramas, variety shows and films at 65 percent, and food delivery apps at 55 percent. Some 88 percent said they believe K-food is likely to move beyond a short-lived trend and become a lasting part of China’s food culture. As Korean food becomes part of everyday life in China, it is increasingly seen as a starting point for deeper interaction between Chinese and South Korean culinary traditions, reflecting a broader, two-way cultural exchange. 2026-01-08 14:00:31 -
KOSPI continues to test new heights SEOUL, January 08 (AJP) - South Korea’s benchmark KOSPI touched fresh milestone of 4,600 won to gallop toward much-anticipated 5,000 on Wednesday. The KOSPI opened 19.60 points, or 0.43 percent, lower at 4,531.46. The buying spree sent the Korean won higher at 1,449.40 versus the U.S dollar. Retailers joined in full force to pick up foreign selling. 2026-01-08 12:48:27 -
PHOTOS: South Korea greets 2026 with the first sunrise SEOUL, January 1 (AJP) — The Year of Byeongo (the Year of the Red Horse) has begun, marking the start of 2026. On the first day of the new year, most regions across the country are expecting clear skies and weather, which makes watching the sunrise more enjoyable. However, the morning temperature in Seoul is forecast to plunge to minus 11 degrees Celsius, bringing frigid weather. 2026-01-08 11:58:36 -
KOSPI opens higher, briefly surpasses 4,600 mark SEOUL, January 8 (AJP) – The South Korean stock market opened higher on Thursday, with the benchmark KOSPI surpassing the 4,600 mark for the first time, as major chipmakers extended gains and retail investors poured into large-cap shares. About an hour after the market opened, the KOSPI soared 1.4 percent from the previous session to 4,615.70, while the tech-heavy KOSDAQ slipped 0.1 percent to 946.46. Investors showed a clear divergence in early trade as retail investors bought a net 2.23 trillion won ($1.65 billion), while foreign and institutional investors sold roughly 0.15 trillion won and 2.71 trillion won. Among blue-chip stocks, Samsung Electronics slipped 0.7 percent to 140,000 won ($105) after hitting a fresh 52-week high of 144,400 won the previous day. However, it remains in a strong upward trend, rising roughly 176 percent from its previous low of 50,800 won in February last year and more than doubling over the past year. SK hynix rose 0.5 percent to 746,000 won ($561), recovering from early losses and hovering near its recent record high, as strong demand for high-bandwidth memory continued to support the stock. The outlook was further bolstered by comments from Nvidia CEO Jensen Huang, who said demand for advanced memory remains overwhelming and highlighted close cooperation with suppliers on next-generation HBM4. Hana Securities said semiconductors are expected to account for roughly 47 percent of KOSPI's net profit over the next 12 months, led by strong earnings growth at Samsung Electronics and SK hynix, while the sector’s forward valuation remains relatively low despite the recent rally. Hyundai Motor fell 1.6 percent to 345,000 won ($259), giving back part of the previous session’s sharp gains, which had been driven by optimism over its AI and robotics strategy unveiled at this year's CES currently underway in Las Vegas. The drop was widely seen as profit-taking following the recent surge, rather than a change in the underlying outlook. Meanwhile, Japan's Nikkei 225 fell 0.7 percent to 51,577.20, while China's Shanghai Composite edged up 0.1 percent to 4,085.77. In Hong Kong, the Hang Seng Index was largely flat in Hong Kong, with Hang Seng Bank steady at 153.80 HKD ($19.7), as investors took a cautious stance ahead of upcoming policy and earnings announcements. 2026-01-08 11:44:12 -
Countdown begins ahead of BTS' full-group comeback SEOUL, January 8 (AJP) - Since earlier this week, promotional displays for BTS' full-group comeback in late March have adorned the staircases of the Sejong Center for the Performing Arts near Gwanghwamun in central Seoul. As one of the country's major cultural venues, hosting a wide range of performances and exhibitions, the center was an ideal place to promote the septet's return with a new album set for release on March 20, according to their management agency. The agency also plans to set up similar outdoor promotional installations and activities in major cities around the world including London, New York, and Tokyo. After completing their mandatory military service, the seven members of BTS will return after nearly four years of hiatus and embark on a large-scale world tour to promote their new album, which contains 14 tracks. 2026-01-08 11:07:33 -
South Korea among top markets for highest-grossing 'Avatar' franchise SEOUL, January 8 (AJP) - "Fire and Ash," the third installment in director James Cameron's epic "Avatar" franchise, dominated the South Korean box office during the holiday season, making the country one of the film's top five global markets. According to Box Office Mojo, an American-operated website that tracks box-office revenues, South Korea ranked among the global top five markets for the CGI-heavy spectacular, earning US$44.12 million, just behind North America ($311.33 million), China ($137.92 million), France ($82.16 million), and Germany ($64.09 million). The second installment, "Avatar: The Way of Water," was also a box-office hit when it was released here in 2022, drawing a record 10.8 million viewers. The latest installment of the highest-grossing series departs from its previous serene setting of fictional planet Pandora to explore a fiery, ash-covered world, encountering new tribes along the way. 2026-01-08 10:40:49 -
Energy projects drive Hyundai E&C to record-breaking orders in 2025 SEOUL, January 08 (AJP) - Hyundai Engineering & Construction said on Thursday it secured 25.5 trillion won ($17.6 billion) in new orders last year, up 39 percent from 2024 and the highest annual total in the company’s history. Hyundai E&C said it was the first South Korean builder to surpass 25 trillion won in annual orders, attributing the performance to a strategic shift beyond traditional construction into energy-transition projects. At a “CEO Investor Day” in March last year, Hyundai Engineering & Construction set out a vision to become an “energy transition leader” and set a target of at least 25 trillion won in annual orders by 2030 — a goal it reached in less than a year. Energy-related projects accounted for much of the growth, the company said. Major wins included a basic design contract for four large nuclear reactors with Fermi America, an early works agreement for a new nuclear plant in Finland, a solar power project in Texas and the Sinan Ui offshore wind project. The company said it expanded its order base by securing low-carbon and energy-transition projects in advanced markets such as the United States and Europe. The company also said it broadened its value chain beyond power generation into transmission and consumption, citing a Saudi Arabia transmission line project and data center contracts in the Seoul metropolitan area. Technical capability and long-standing trust also supported orders, the company said, pointing to an Iraq seawater supply facilities project backed by more than four decades of experience in state-led infrastructure projects. "We plan to build on the momentum this year by focusing on established energy businesses such as nuclear power and renewables, while increasing the share of overseas orders," a Hyundai E&C spokesman said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-08 10:27:21 -
South Korea's finance chief warns won's volatility remains high, vows swift action SEOUL, January 08 (AJP) - South Korea’s deputy prime minister and finance minister Koo Yun-cheol said on Thursday that volatility in the foreign exchange market “remains high," pledging swift follow-up measures to stabilize overall conditions. Koo made the remarks at a policy coordination meeting attended by Bank of Korea Governor Lee Chang-yong, Financial Supervisory Service Governor Lee Chan-jin and Financial Services Commission Vice Chairman Kwon Dae-young. He said the current exchange rate appeared to be diverging from economic fundamentals and stressed the need for authorities to maintain “firm and consistent” policy responses. Koo said equity and financial markets have remained buoyant, citing foreign investor inflows, while government bond yields have stayed stable, leaving overall market conditions “generally stable.” However, he warned that downside risks persist in global markets, pointing to geopolitical uncertainty and shifts in monetary policy by major economies. Authorities will maintain a 24-hour market monitoring system and closely track external developments, he said. Koo also said the government would step up so-called productive finance to channel funding toward advanced industries as well as venture and startup firms. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-08 10:03:35