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ChatGPT most downloaded app in South Korea last year SEOUL, January 8 (AJP) - ChatGPT, developed by OpenAI, was the most downloaded new app in South Korea last year, big data analytics firm IGAWorks said on Thursday. ChatGPT led all apps with an average of 16.57 million new monthly downloads, followed by the state-run gift voucher app Digital Onnuri at 12.81 million, Chinese shopping platform Temu at 11.52 million, and the country's largest portal Naver's shopping platform at 10.20 million. When it comes to the number of users, U.S. streaming giant YouTube took the top spot with some 51.71 million monthly active users last year, followed by messaging app Kakao Talk at 46.35 million, Naver at 44.94 million, and Google at 41.28 million. 2026-01-08 09:43:00
Prosecutors seek arrest warrant for MBK Partners' chairman over Homeplus fraud SEOUL, January 8 (AJP) - Prosecutors have sought an arrest warrant for Kim Byung-ju, the chairman of private equity firm MBK Partners, along with three other executives over supermarket chain Homeplus' abrupt filing for court receivership. The Seoul Central District Prosecutors requested the warrants for them late Wednesday night on charges of fraud and other alleged violations of relevant laws. MBK Partners, which acquired a 100 percent stake in Homeplus from British grocery chain Tesco Plc in 2015, later became financially strapped, leading it to request court-led rehabilitation in March last year. Prosecutors believe that MBK executives knew in advance that Homeplus' credit rating would be downgraded in February last year. Despite being aware of this, they issued large-scale asset-backed short-term bonds worth 82 billion Korean won (US$56.6 million) without disclosing the impending downgrade and filed for court-led corporate rehabilitation just a few days later. 2026-01-08 09:11:19
[[CES 2026]] Hyundai Mobis deepens future mobility push with Boston Dynamics, Qualcomm ties LAS VEGAS, January 08 (AJP) - South Korea's Hyundai Mobis has announced a series of strategic partnerships at CES 2026 in Las Vegas aimed at expanding its role in future mobility, including a robotics supply deal with Boston Dynamics and a technology cooperation agreement with Qualcomm. As part of Hyundai Motor Group’s push to build an artificial-intelligence-driven robotics ecosystem, Hyundai Mobis said it has established a cooperation framework with Boston Dynamics and will supply actuators when the next-generation humanoid robot Atlas enters mass production. The move marks Hyundai Mobis’s first customer in its newly launched robotics business and signals its formal entry into the global market for robot components. Hyundai Motor Group said in August last year that it plans to build a new robot factory in North America. Hyundai Mobis said it expects to play a key role in strengthening the group’s robotics competitiveness by leveraging its experience in large-scale manufacturing. In recent years, Hyundai Mobis has sought to expand beyond its core auto parts business into higher value-added areas such as robotics and software-defined vehicles (SDVs), part of a mid- to long-term strategy to respond to rapid changes in future mobility and ensure sustainable growth. The company said it will initially focus on the robot actuator segment, drawing on its vehicle parts design expertise and mass-production capabilities. Actuators are core drive components that execute movement based on controller signals and account for about 60 percent of the material cost of a humanoid robot. Global research firms estimate the robotics market at around 75 trillion won and forecast annual growth of about 17 percent, with the market projected to reach roughly 800 trillion won by 2040. Separately, Hyundai Mobis said it has signed a memorandum of understanding with Qualcomm to cooperate across a broad range of technologies, including SDVs and advanced driver-assistance systems (ADAS). The two companies will accelerate development of a scalable software platform and work toward an integrated SDV solution with improved performance, efficiency and system stability. They will also jointly develop technologies optimized for autonomous driving and autonomous parking, targeting demand in emerging markets such as India, where adoption of ADAS is accelerating as vehicle lineups expand beyond small cars. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-08 09:08:08
South Korea urged to diversify strategic mineral sourcing amid China risks SEOUL, January 08 (AJP) - China’s curbs on exports of strategic minerals, including rare earths, are intensifying calls for South Korea to accelerate efforts to stabilize its supply chain, with business and academic circles urging the government to diversify sourcing and offer stronger incentives for refining and processing. South Korea’s government-led drive to secure strategic minerals has largely stalled for more than a decade. While trading houses and materials companies have periodically sought supplies outside China, officials said policy support has remained fragmented and insufficient. Industry officials contrasted South Korea’s approach with Japan, which suffered widespread industrial disruption after China restricted rare earth exports during a dispute over the Senkaku Islands. Since then, Japan has spent more than a decade expanding supply chains through long-term investments in Southeast Asia, South America and Africa, maintaining continuity regardless of changes in government. In October last year, Japan launched a critical minerals and rare earth supply-chain framework with the United States and Australia aimed at reducing dependence on China. Tokyo has also increased research and development spending on alternative materials to replace China-sourced rare earths used in wind turbines, electric-vehicle motors and batteries. Japanese automakers, including Honda and Toyota, have reported progress from those efforts since last year. The United States, which the report said has faced what it describes as China’s weaponization of strategic minerals since early last year, is also moving more quickly to cut reliance on China. Measures include restarting domestic graphite mining for the first time in 70 years. U.S.-based Titan Mining plans to produce 40,000 tons of graphite a year — roughly half of U.S. demand — with commercial sales targeted for 2028. The company’s expansion is backed by subsidies under the Inflation Reduction Act and direct federal support, the report said. Chief Executive Rita Adiani said China could no longer be regarded as a reliable supply-chain partner, adding Titan would supply “a significant portion” of U.S. needs. In South Korea, experts said the government should move faster to diversify strategic-mineral supply chains. Kang Cheon-gu, a visiting professor at Inha University’s Graduate School of Manufacturing Innovation, said state-level efforts were needed to expand sourcing from rare earth-producing countries outside China, including Australia, Indonesia, Malaysia and Vietnam. He also called for tariff exemptions on imports from those countries and long-term investment to secure overseas mines. Business groups are also urging broader government support for companies that help stabilize strategic-mineral supply chains, citing policies adopted in the United States and Japan. They argue South Korea should make more active use of the National Growth Fund, including direct investment and indirect support such as tax incentives for companies including Korea Zinc and Posco Future M. Korea Zinc, backed by large-scale U.S. government investment, has decided to build a smelter in the United States to produce 11 strategic minerals — including antimony, indium, gallium, germanium and bismuth — sectors long dominated by China. Posco Future M said it will invest in Saemangeum to build a plant capable of producing 37,000 tons of spherical graphite a year, with completion targeted for the third quarter of next year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-08 08:57:23
Samsung Elec estimates best-ever income $14 bn for Q4 and $30 bn for full 2025 SEOUL, January 08 (AJP) -Samsung Electronics reported record 20 trillion won ($14 billion) in operating profit for the quarter ended December and 43.5 trillion won for full-year 2025 — driven by the so-called “hyper bull” cycle in memory chips amid widening artificial intelligence adoption. In its earnings guidance released Thursday, the South Korean tech giant said it is estimated to have raked in 20 trillion won in operating profit for the October–December period, up 208 percent from a year earlier and above the market consensus of 19.6 trillion won compiled by FnGuide. Revenue amounted to 93 trillion won, up 22.7 percent from a year ago and also a record three-month figure. For the full year, operating profit reached 43.53 trillion won, while revenue totaled 332.8 trillion won, up 33 percent and 10.6 percent, respectively. The company, whose business spans chips, smartphones and consumer electronics, will release detailed figures for each division in its finalized earnings report on Jan. 29. Investment banks estimate that the chip division generated about 17 trillion won in operating profit in the fourth quarter, reflecting gains of 36 percent and 15 percent in average selling prices for DRAM and NAND products, respectively, from the previous three-month period. According to market tracker TrendForce, mass-market DRAM prices jumped 45 to 50 percent in the final quarter of 2025, while average DRAM prices — including high-bandwidth memory — rose 50 to 55 percent. NAND flash memory prices increased 33 to 38 percent. 2026-01-08 07:52:31
OPINION: Restore politics to avoid Japan-like path South Korea is confronting a question it can no longer afford to ignore: can it avoid Japan’s “lost 30 years”? The concern is not only economic. More troubling is the sense that politics itself has lost the capacity to solve problems and steer the economy. The scale of South Korea’s transformation makes the question all the more striking. After liberation, average life expectancy stood at just 44 years. Infant mortality reached 102 per 1,000 births—the world’s second highest. Illiteracy among those aged 13 and older was 77 percent. Dried squid accounted for 40 percent of exports. Tax revenue made up only 15 percent of national income, and electricity self-sufficiency hovered in the 30 percent range. Gen. Douglas MacArthur was quoted as saying it would take a century for the country to stand again. Britain’s The Times mocked that expecting democracy in South Korea was more plausible than expecting roses to bloom from a trash heap. Yet over the next 70 years, South Korea defied those judgments. Gross domestic product expanded from 47.7 billion won to 2,560 trillion won. Semiconductors, shipbuilding and defense emerged as world-leading industries. In the AI era, the chip sector has again ridden a global boom. Korean culture has gone global as well—from Parasite and Squid Game to K-pop, K-dramas and global stars such as BTS and Blackpink. The fear is not that these achievements were illusory, but that they may prove temporary. Japan once stood alongside the United States as a de facto G2 in the 1980s. After its asset bubble burst in the early 1990s, however, it endured more than three decades of low growth, deflation and stagnant incomes. South Korea, which caught up by emulating Japan in semiconductors, consumer electronics and automobiles, earned the name “the Miracle on the Han River.” Today, its potential growth rate has fallen below 2 percent, and the economy has remained stuck in a low-growth trap for years. Warning signs feel uncomfortably familiar: the world’s fastest-aging society, a record-low birthrate, regulations shaped by entrenched interests, and weakening innovation. Despite the launch of a new government, skepticism is spreading that South Korea may be sliding down the same path Japan took—especially as extreme political conflict pushes livelihoods and the economy to the sidelines. Japan’s strength rested on technology, manufacturing and social stability. Its crisis began in politics. As the “political engine” weakened, structural reforms were postponed, society grew more closed, companies hoarded cash and households tightened spending. What followed was not a sudden collapse but a long, quiet stagnation. In Day of Empire, Amy Chua describes the rise and fall of great powers as a struggle between “openness and inclusion” on one side, and “exclusion and closure” on the other. Japan’s slump cannot be explained by policy mistakes alone; it also reflected a closed, inward-looking social mood that emerged as politics regressed. Similar warning signs are appearing in South Korea. Protectionist pressures are intensifying under the Trump administration just as domestic politics remains locked in confrontation. Social mobility has broken down, leaving young people to conclude that “there is no hope,” with few credible political solutions offered. Polarization and class conflict deepen amid distrust in politics. Policy has long been reduced to election strategy, while cycles of retaliation and demonization repeat with every change of power. The economy is caught in a “perfect storm.” South Korea’s growth over the past half-century was not accidental. It was built on education, hard work, allies and an open economy—backed by decisive political choices at critical moments. Land reform, compulsory education, five-year economic development plans, democratization in 1987, the Korea-U.S. free trade agreement and the opening of Japanese culture all required political resolve. Former president Roh Moo-hyun persuaded skeptical supporters of the FTA by saying, “No country develops without opening up.” Openness in the economy and culture creates new opportunities and industrial order. But decisions for the community and social consensus require political capacity first. Japan’s “lost 30 years” did not begin overnight. It unfolded gradually as political paralysis persisted and no one made difficult decisions. When vested interests are protected and the costs of change are pushed onto the next generation, a society ages—slowly, but decisively. To avoid the same fate, South Korea must boldly change how its politics works. Several priorities stand out. First, stable politics—ensuring that the nation’s broad direction does not swing wildly with each administration. Second, cross-partisan agreements on long-term challenges such as pensions, labor, education, immigration and balanced regional development. Third, policies to reduce polarization, recognizing that welfare expansion alone cannot resolve structural problems in housing, education and the dual labor market. Fourth, an end to factional warfare, as demonizing opponents makes cooperation impossible. Fifth, bold deregulation—acknowledging that regulation is a safety net, but one that can suffocate growth if it fails to keep pace with change. And finally, genuine social integration built on trust that sustains policy over time. Copying the “answer sheets” of advanced economies no longer works. With AI, decarbonization and geopolitical risk arriving simultaneously, South Korea must act as a first mover. Politics must prioritize long-term productivity, accept uncomfortable reforms even at the cost of sacrifices by one’s own side, and mobilize national capacity. Growth gains must be shared fairly, and the costs of transition borne equitably. It is not too late. This remains a golden moment—but only if politics does its job: distributing benefits fairly, channeling conflict into institutions and pursuing long-term goals without wavering. The phrase “the sun is setting but the road is long” may also carry a warning: the later the choice, the worse the options become. About the author ▷Visiting professor at Soonchunhyang University ▷Deputy spokesperson at the National Assembly speaker’s office ▷Political secretary to the National Assembly speaker ▷Member of the Presidential Committee for Balanced National Development ▷Member of the National Communication Committee * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-08 07:29:04
[[CES 2026]] CES 2026 Sneak peek: Samsung and LG turn exhibition spaces into experience hubs SEOUL, January 07 (AJP) - 2026-01-07 17:35:00
China's export curbs on Japan risk collateral damage to Korean chipmakers SEOUL, January 07 (AJP) - South Korean technology producers that rely on both China and Japan for critical raw and intermediate inputs may find themselves caught in the crossfire of rising U.S.–Japan tensions, after Beijing imposed sweeping export restrictions on more than 1,000 so-called “dual-use” items bound for Japan. China announced a blanket ban on the export of dual-use goods to Japan while hosting South Korean President Lee Jae Myung for a state visit and summit with Chinese President Xi Jinping. Although framed as a measure to prevent “military use,” the restrictions include seven types of heavy rare-earth elements (HREEs) and permanent magnets essential to advanced manufacturing, making it one of Beijing’s most aggressive trade actions against Tokyo to date. The impact, however, is unlikely to stop at Japan. Because South Korea depends heavily on Japanese intermediate goods for its core semiconductor and battery industries, disruptions along the China–Japan supply chain could ripple quickly into Korea. Heavy rare earths at the choke point At the center of the issue are heavy rare-earth elements, often described as the “vitamins of the high-tech industry.” Compared with light rare earths, HREEs offer stronger magnetic properties, higher heat resistance and superior performance in optical signal processing — making them indispensable for semiconductors, electric vehicles and defense-related technologies. China holds a near-monopoly over these materials, accounting for more than 60 percent of global HREE mining output and refining about 95 percent of all rare earths produced worldwide. It also controls over 90 percent of global permanent magnet production. This concentration raises particular risks for South Korea’s export-driven tech sector, especially semiconductors and electric vehicles. Korean chipmakers remain more than 90 percent dependent on Japanese-made extreme ultraviolet (EUV) lithography equipment, supplied by firms such as Tokyo Electron. The production of this equipment is virtually impossible without yttrium (Y), a key heavy rare earth now caught up in China’s export controls. The electric vehicle sector faces similar exposure. Korean EV manufacturers rely heavily on Japanese-made power integrated circuits that regulate energy flow from batteries to motors. Producing these components requires stable supplies of gallium (Ga), germanium (Ge) and graphite (C) — materials over which China maintains tight control across the global supply chain. Caution amid uncertainty Despite the mounting concerns, some experts warn that excessive alarm may be premature, as details of the export ban remain unclear. “While the term ‘comprehensive ban’ sounds severe, the absence of a finalized item list suggests this could still be a low-level maneuver,” said Park Han-jin, a special professor at Hankuk University of Foreign Studies and a former China head at KOTRA. An official notice, he noted, would normally specify the legal authority, exact items covered and enforcement rules. So far, the announcement from China’s Ministry of Commerce has remained broad and procedural, in contrast to Beijing’s 2023 restrictions on germanium and gallium, which were authorized directly by Xi through a presidential decree. An official at South Korea’s Ministry of Trade, Industry and Energy, speaking on condition of anonymity, also said it was too early to assess the direct impact on Korean firms. Still, the warning lights are flashing. “At this stage, it appears to be a pressure tactic aimed at discouraging Japan from deeper involvement in the Taiwan issue,” Park said. “But if rare earths are fully included in the ban, the shock could hit Korea’s core exporters hard.” 2026-01-07 17:27:02
Retail traders bet on US markets as KOSPI rally continues SEOUL, Jan. 7 (AJP) - While the KOSPI continues its record-breaking rally on Wednesday, breaching the 4,600-level for the first time in history, the unwavering appetite of South Korean retail investors for U.S. equities remains a dominant market force. According to data from Koscom ETF CHECK, the most net-purchased ETFs by retail investors over the past week were the TIGER US S&P 500 and KODEX US S&P 500. Individual traders poured nearly 350 billion Korean won (US$241.7 million) into these two funds, with net purchases of 225.9 billion won and 121 billion won, respectively. The preference for Wall Street extended to tech-heavy indices, as retail investors also snatched up 96.0 billion won of KODEX US Nasdaq 100 and 77.6 billion won of TIGER US Nasdaq 100, signaling a persistent bias toward U.S. growth stocks. This exodus of capital into overseas markets is a long-standing trend rather than a fleeting phenomenon. Between January and October last year, South Koreans invested a net $117.1 billion in overseas securities — comprising $89.9 billion in equities and $27.2 billion in bonds. October alone recorded a record $17.3 billion outflow. Data from the Bank of Korea further underscores this imbalance; while domestic investment in foreign securities jumped by $17.27 billion, foreign investment in South Korean equities grew by a mere $5.2 billion, highlighting a stark divergence in market confidence. Ironically, the most popular domestic equity ETF among retail investors was the KODEX 200 Futures Inverse 2X, known colloquially as the "Gop-bus" - which tracks twice the inverse of the KOSPI 200's daily performance. Retail traders bet 116.4 billion won on a market downturn, despite the ETF plunging 15.93 percent over the past week as the index continued to climb - suggesting that a significant segment of the retail market expects an imminent correction following the recent streak of record highs. Institutional investors, in contrast, are doubling down on the domestic rally. Over the past week, institutions focused their buying on the KODEX Leverage and KODEX KOSDAQ 150 Leverage, with net purchases of 85.8 billion won and 79.8 billion won, respectively. These leverage products provide twice the daily return of their underlying indices, reflecting institutional confidence that the domestic bull market still has room to run despite the height of the current valuation. Brokerages are fueling this optimism by aggressively raising their year-end targets. Yuanta Securities recently hiked its 2026 KOSPI forecast range to 4,200–5,200 points from 3,800–4,600, while Kiwoom Securities raised its band to 3,900–5,200 points. On Tuesday, Korea Investment & Securities significantly upgraded its KOSPI target to 5,650 from 4,600, citing the high probability of further upward revisions in operating profit forecasts for semiconductor giants. However, the narrow breadth of the rally remains a point of skepticism for individual investors. The surge in the KOSPI is almost entirely dependent on a few mega-cap stocks like Samsung Electronics and SK hynix. The combined market capitalization of these two firms has reached 1,374.8 trillion won, accounting for a staggering 36.6 percent of the total KOSPI value as of Wednesday. Historical data also serves as a cautionary tale; while the KOSPI saw explosive growth during the "Three Lows" boom of 1987–1988 and the short-term recovery after the 1997 Asian financial crisis, these rallies were often followed by stagnant or sharply declining markets, such as the 50.92 percent crash in 2000 following the IT bubble. Analysts suggest that the anxiety over domestic volatility is driving the demand for global asset allocation toward U.S. markets. Even among experts, measuring appropriate valuations for the KOSPI has become a challenge due to its rapid ascent. "It is historically unprecedented for the KOSPI to lead global markets with such a dominant growth rate," said an analyst at a major brokerage, on condition of anonymity, adding that market sentiment is likely to remain volatile for the time being, although the ceiling for the index remains high. 2026-01-07 17:23:29
Overseas fugitives top 1,000 for first time as cross-border scams surge in Korea SEOUL, January 07 (AJP) - The number of criminal suspects who fled overseas after committing crimes in South Korea has surged past 1,000 for the first time on record, raising concerns that the country is increasingly exposed to transnational crime networks operating across Asia and Russia. According to the Korean National Police Agency (KNPA), 1,249 new overseas fugitives were recorded last year, up 31 percent from 951 a year earlier. It marked the first time the annual figure exceeded 1,000 since police began compiling the data. Police attribute the sharp rise to the growing internationalization and organization of crime, particularly scam- and fraud-related offenses structured to operate across borders. In the past, overseas flight was largely associated with suspects attempting to evade punishment after committing violent crimes such as murder or robbery. In recent years, however, many criminal operations have been designed from the outset to run from abroad, with perpetrators establishing overseas bases while targeting victims in South Korea. That shift has drawn renewed attention to Cambodia, which has emerged as a major hub for global online scam operations. Last August, a South Korean college student who traveled to Cambodia after being promised a high-paying job was found dead near a crime compound in the Bokor Mountain area of Kampot province. A joint investigation and autopsy conducted with local authorities found extensive signs of assault and torture. Cambodia has long been identified as a center for online scam activity involving the abduction and trafficking of foreign nationals. KNPA data show that Cambodia ranked first among destinations linked to overseas fugitives last year, with 399 suspects, or 31.8 percent of the total — overtaking China, which recorded 254 cases. The Cambodia-linked figure more than tripled from 123 a year earlier. Police believe hundreds of scam compounds operated by Chinese criminal organizations are scattered across Cambodia, drawing in criminal groups from South Korea, Japan, Vietnam and elsewhere to form an extensive transnational network. Experts trace the roots of this structure to the mid-2000s, when Cambodia and China jointly developed the Sihanoukville Special Economic Zone. After China intensified its anti-corruption campaign under President Xi Jinping in 2018, casino capital and criminal groups relocated to Cambodia. When the COVID-19 pandemic undermined the casino economy, these groups pivoted to online scams, repurposing existing infrastructure and manpower into what police describe as corporate-style fraud operations. Fraud accounted for the largest share of offenses among overseas fugitives last year, with 757 cases, or 60.6 percent of the total, followed by online gambling at 141 cases, or 11.3 percent. Most involved cyber-enabled financial crimes, including voice phishing, investment scams, romance scams and schemes using deepfake technology, the KNPA said. "In the past, suspects could simply flee overseas and wait out the statute of limitations," said Shin Yi-chul, chair of the Department of Police Science at Wonkwang Digital University. "But the law has since been revised so that the statute of limitations is suspended when a suspect flees abroad. Overseas flight no longer offers a real escape — at best, it buys time." Law enforcement authorities have stepped up cooperation with foreign counterparts through permanent joint investigation teams, enabling faster arrests on the ground. A key example is the Korea Task Force jointly operated by South Korean and Cambodian police. Established in November, the unit arrested 92 South Korean suspects within its first month. In early December, authorities detained the ringleader and 15 members of a romance-scam organization responsible for 26 billion won ($1.8 million) in losses in Poipet. Later that month, joint raids near the Cambodia–Vietnam border led to the arrest of 26 additional suspects. Extraditions have also risen. Police repatriated 828 fugitives last year, up nearly 20 percent from the previous year, marking the fourth consecutive annual record since 2022. In total, 263 South Korean suspects were arrested in Cambodia alone. "Crimes committed domestically have become much harder to carry out," an official at the KNPA's International Cooperation Bureau said. "International cooperation — through channels such as Interpol and bilateral partnerships — is now far more active and effective than in the past." 2026-01-07 17:22:04