Journalist

Lee Hugh
  • Korean president reaffirms one-China policy ahead of summit in Beijing
    Korean president reaffirms one-China policy ahead of summit in Beijing SEOUL, January 03 (AJP) - South Korean President Lee Jae Myung reaffirmed Seoul’s respect for the “one-China” policy on Taiwan in an interview with China Central Television ahead of his summit with Chinese President Xi Jinping, underscoring his administration’s intent to stabilize and recalibrate relations with Beijing. “The healthy development of South Korea–China relations depends on full respect for each other’s core interests,” Lee said in the interview, according to CCTV’s Chinese-language translation released on Friday. “With regard to China’s most core concern, the Taiwan issue, we will uphold our position of respecting the one-China stance.” Lee stressed that the diplomatic principles agreed upon when Seoul and Beijing established formal ties in 1992 remain valid and continue to serve as the “core guidelines” for bilateral relations. He added that maintaining peace and stability in Northeast Asia, including across the Taiwan Strait, is a shared responsibility. The remarks come as tensions have risen in the Taiwan Strait, following large-scale Chinese military drills near Taiwan earlier this week. Taiwan’s current ruling party has consistently rejected Beijing’s sovereignty claims over the self-governed island. Addressing concerns over regional alignments, Lee said South Korea’s military alliance with the United States does not imply confrontation with China. He emphasized that Seoul seeks a “new, equal and cooperative relationship” with Beijing, particularly in artificial intelligence and other advanced technology sectors. Lee also highlighted the two countries’ shared historical experience of resisting Japanese aggression during World War II, calling for greater efforts to learn from history and prevent its repetition. As part of efforts to institutionalize dialogue, the South Korean president proposed holding annual summit meetings with China’s leader, signaling a push for more regular and structured high-level engagement. Lee’s four-day state visit to China begins Sunday, with talks expected to cover regional security, economic cooperation and technology partnerships amid an increasingly complex geopolitical environment in East Asia. 2026-01-03 08:04:36
  • A deadly cab crash near Jonggak station in Seoul kills 1, injures 9, 4 of them foreigners
    A deadly cab crash near Jonggak station in Seoul kills 1, injures 9, 4 of them foreigners SEOUL, January 03 (AJP) -A taxi sped onto a sidewalk near Jonggak Station in central Seoul on Friday evening, striking pedestrians and two vehicles to leave one dead and nine injured, officials said. The crash happened about 6:05 p.m. on a road in front of Jonggak Station on Seoul Subway Line 1, according to the Jongno Fire Station and other authorities. The taxi hit people in a crosswalk and then collided with two vehicles, they said. Nine people, including four foreigners, suffered injuries ranging from serious to minor. A woman in her 40s was found in cardiac arrest and was taken to a nearby hospital while receiving CPR but later died. Another woman in her 30s with a pelvic injury was also hospitalized. Four of the injured were passengers in the taxi, officials said. One was an Indian, and three others Indonesians. The taxi came to a stop after hitting a roadside barrier on the sidewalk. A fire was reported in one vehicle during the collisions, officials said. Police restricted access to the area, citing concerns about a possible explosion based on the condition of the vehicles. Police said the taxi driver, in his late 70s, showed no signs of alcohol or drug use. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-03 07:54:18
  • Samsung Electronics to kick off earnings season with bumper Q4, signaling AI-driven boom
    Samsung Electronics to kick off earnings season with bumper Q4, signaling AI-driven boom SEOUL, January 02 (AJP) - Samsung Electronics will kick off the tech sector’s preliminary fourth-quarter earnings season next week, offering an early gauge of the scale of surging demand for memory chips amid aggressive stockpiling driven by the global AI boom. Market consensus compiled by FnGuide shows the South Korean tech giant is expected to post operating profit of about 15.5 trillion won (about $10.7 billion) for the quarter ended December, more than doubling the 6.49 trillion won (about $4.5 billion) recorded a year earlier. The sharp rebound reflects strengthening prices across memory products as supply tightens and data-center investment accelerates. Prices have risen broadly across both DRAM and NAND, spanning mass-market to customized high-performance chips. Market tracker TrendForce estimates DRAM prices rose 13–18 percent in the October–December period, while NAND flash prices climbed 5–10 percent, supported by improving server demand and disciplined supply. Samsung will release a detailed breakdown by business division later this month when it publishes its final earnings report. For full-year 2025, Samsung’s operating profit is projected at around 39.15 trillion won, up roughly 20 percent from an estimated 32.7 trillion won in 2024, according to brokerage forecasts compiled in recent weeks. Against this backdrop, Jun Young-hyun, head of Samsung’s Device Solutions (DS) division, has urged employees to strengthen the company’s “technology fundamentals” across memory, logic and advanced packaging. He said Samsung aims to fully leverage its integrated structure to respond to surging AI demand while deepening engagement with key customers. The Device Experience (DX) division, which covers smartphones, TVs and home appliances, faces a more mixed outlook. Global smartphone shipments are forecast to grow 2–3 percent in 2026, but competition in AI-enabled premium devices is intensifying. Samsung’s Galaxy S26 launch and the broader industry shift toward on-device AI are expected to play a key role in shaping performance. Roh Tae-moon, head of the DX division, said the unit will push “AI transformation” across products and internal operations, stressing the need for tighter execution and faster decision-making amid volatile consumer demand. Looking ahead, analysts expect Samsung Electronics’ operating profit to climb to around 85.4 trillion won in 2026, with some bullish forecasts exceeding 100 trillion won, assuming stable memory pricing and sustained investment in AI servers. Foundry revenue is projected to grow more modestly as Samsung ramps up its 2-nanometer-class gate-all-around (GAA) processes, though competition with Taiwan Semiconductor Manufacturing Co. remains a key challenge. In consumer electronics, demand remains subdued. Research firm Omdia forecasts global TV shipments will rise by about 1 percent in 2026, supported in part by replacement demand tied to major sporting events, including the North and Central America World Cup. In its New Year messages, Samsung also underscored the importance of compliance, safety and supply-chain stability, saying the company must reinforce execution capabilities amid heightened geopolitical uncertainty and the rising capital intensity of AI infrastructure. 2026-01-02 17:54:23
  • Former Bigbang member to release solo album
    Former Bigbang member to release solo album SEOUL, January 2 (AJP) - T.O.P, a former member of now-almost-defunct K-pop boy band Bigbang is expected to release a new album later this year. The rapper hinted at the release of his solo album in a post on social media with a message "A new album is on the way. Once released, it will be his first solo album since 2013. The disgraced star received a two-year suspended sentence in 2017 for smoking marijuana with a young starlet at his home in Seoul the previous year. But he drew renewed attention in December 2024 after appearing in the second season of Netflix's hit South Korean series "Squid Game." 2026-01-02 17:32:37
  • KOSPI opens 2026 on buoyant note, hits fresh milestone
    KOSPI opens 2026 on buoyant note, hits fresh milestone SEOUL, January 02 (AJP) - South Korean stocks roared into 2026, extending last year’s standout rally, while most Asian markets opened the year on a subdued footing. In Seoul, the benchmark KOSPI jumped 2.3 percent to close at a fresh all-time high of 4,309.63, while the tech-heavy KOSDAQ climbed 2.2 percent to 945.57. Investor sentiment was buoyed by record-high semiconductor exports. Shipments surged 22.2 percent from a year earlier in December to $17.34 billion, setting a new annual high and reinforcing optimism over Korea’s chip-led growth momentum. Shares of heavyweight chipmakers rallied sharply. Samsung Electronics jumped 7.2 percent to close at 128,500 won ($88.9), while SK hynix advanced 4 percent to 677,000 won, both hitting record highs. Hyundai Motor gained 0.7 percent to 298,500 won, while HD Hyundai Electric climbed 5.8 percent to 819,000 won. Celltrion surged 12 percent to end at 202,500 won after the biotech firm projected record fourth-quarter earnings for 2025. On Wednesday, when the market was closed, the company said consolidated fourth-quarter sales are expected to reach 1.2839 trillion won ($888 million), up 20.7 percent from a year earlier, while operating profit is projected to jump 140.4 percent to 472.2 billion won — both all-time quarterly highs. Kwon Hae-soon, an analyst at Eugene Investment & Securities, said Celltrion is likely to deliver earnings that exceed market expectations “thanks to its improved product mix and enhanced cost control,” raising her target price to 250,000 won. Seo Geun-hee, an analyst at Samsung Securities, also lifted her target price to 230,000 won, citing a recovery in profitability driven by new product growth and strengthening market share in the United States. LG Energy Solution, the country’s third-largest company by market capitalization, slipped 2 percent to 361,000 won. Entertainment stocks rallied after news broke that BTS is set to make a full-group comeback on March 20, 2026. HYBE, the group’s agency, jumped 4.9 percent to 346,000 won. JYP Entertainment climbed 6.8 percent to 77,500 won, while YG Entertainment rose 1.4 percent to 70,400 won. Analysts said entertainment shares were also buoyed by growing expectations that China’s de facto restrictions on Korean cultural content could ease, as President Lee Jae Myung is scheduled to visit China from Jan. 4 to 7 and meet President Xi Jinping on Jan. 5. Elsewhere in Asia, Japan’s Nikkei 225 slipped 0.4 percent to close at 50,339.48, with losses concentrated among heavyweight stocks. Toyota Motor fell 0.2 percent to 3,356 yen ($21.4), Mitsubishi UFJ Financial Group edged down 0.1 percent to 2,493 yen, and SoftBank Group declined 1.9 percent to 4,400 yen. Sony Group slipped 0.1 percent to 4,024 yen, Hitachi dropped 0.6 percent to 4,902 yen, and Sumitomo Mitsui Financial Group fell 1.6 percent to 5,041 yen. Fast Retailing, the sixth-largest stock by market capitalization, gained 1 percent to 56,940 yen, while Tokyo Electron, ranked seventh, rose 0.3 percent to 34,320 yen. In China, the Shanghai Composite Index edged up 3.72 points to close at 3,968.84. 2026-01-02 17:15:40
  • Squeezed by lunch inflation, Korean salaried workers find traditional meals increasingly pricey
    Squeezed by lunch inflation, Korean salaried workers find traditional meals increasingly pricey SEOUL, January 02 (AJP) - With lunch inflation continuing to climb, the typical midday meal for South Korea’s salaried workers is quietly changing. Once a go-to comfort food, hot or cold noodle dishes are becoming noticeably more expensive, driven largely by rising import costs. Kalguksu — the traditional knife-cut noodle soup — has reached a fresh record high, reflecting the prolonged impact of a weak won and higher input prices. According to data from the Korea Consumer Agency, the average price of a bowl of kalguksu in Seoul stood at 9,846 won ($6.82) as of November 2025, up 4.91 percent from a year earlier and edging closer to the psychologically important 10,000-won mark. Among major dining-out items tracked by the agency, kalguksu posted the second-largest annual price increase, trailing only gimbap. Other popular meals such as naengmyeon (cold noodles) and bibimbap also recorded notable price hikes. Overall, noodle prices have been rising by an average of about 5 percent annually since 2023, reflecting sustained cost pressure in the food sector. Analysts point to currency weakness as the main driver. Between November 2024 and November 2025, the average won-dollar exchange rate climbed 4.3 percent, from 1,395 won to 1,455 won per dollar. Over the same period, international wheat prices on the Chicago Board of Trade remained relatively stable, suggesting that exchange-rate effects — rather than global commodity spikes — are pushing up costs. South Korea depends on imports for nearly 98 percent of its wheat consumption, with domestic self-sufficiency hovering around just 2 percent. As a result, fluctuations in the currency are quickly passed on to food prices, especially for flour-based dishes. A walk through Seoul’s Jongno district on Friday showed that many restaurants now charge 10,000 won or more for a bowl of kalguksu, while eateries offering the dish for under 9,000 won have become increasingly hard to find. As traditional meals grow pricier, fast-food chains are moving quickly to position themselves as cheaper lunch alternatives. Major franchises now offer set menus priced between 6,000 won and 7,000 won — up to 40 percent cheaper than a typical bowl of kalguksu. Burger King, for example, has rolled out “two for 6,000 won” deals on Whopper Jr. sets. McDonald’s and Mom’s Touch, a domestic chicken-burger chain, also maintain lunch menus priced at around 6,300 won and 7,000 won, respectively. The shift toward burgers and fast food is also reflected in corporate earnings. Amid persistent meal-price inflation since 2024, McDonald’s Korea posted record annual revenue of 1.29 trillion won and returned to operating profit for the first time in eight years. Mom’s Touch likewise reported record results, with consolidated revenue of 417.9 billion won and operating profit of 73.4 billion won. Burger King Korea also delivered strong performance, logging 792.7 billion won in revenue and 38.4 billion won in operating profit, underscoring how value-oriented menus are reshaping lunchtime consumption patterns. As everyday meals grow more expensive, the humble lunch — once a small pleasure in the middle of the workday — is becoming another pressure point for Korea’s salaried workers, highlighting how currency weakness and food inflation are quietly reshaping daily life. 2026-01-02 17:15:27
  • Faker becomes first esports player decorated with highest athletic honor
    Faker becomes first esports player decorated with highest athletic honor SEOUL, January 2 (AJP) - Lee Sang-hyeok, better known as Faker, has become the first esports player to receive the highest honor awarded to athletes who have made outstanding sporting achievements while promoting national reputation. The iconic player of multiplayer online battle arena game League of Legends (LoL) was awarded the Blue Dragon Medal by President Lee Jae-myung at a New Year's event at Cheong Wa Dae on Friday. Accepting the medal, Lee said, "I'm deeply honored to receive this medal. I could not have achieved this without the teammates who have journeyed with me." Previous recipients include football player Son Heung-min, figure skating star Kim Yu-na and baseball pitcher Park Chan-ho, making Faker the first esports player to receive the honor. Faker, who turned pro with his team T1 at the age of 17 in 2013, continues to be a pivotal figure in the sport, winning ten domestic LoL championships and claiming his sixth career trophy at the LoL World Championship, the sport's biggest event, in November last year. Known for his strict self-discipline, he enjoys immense popularity among fans, becoming a sought-after model for advertisers as well. 2026-01-02 17:05:40
  • PHOTOS:How Seoul turns cold days into playgrounds
    PHOTOS:How Seoul turns cold days into playgrounds SEOUL, January 02 (AJP) -In Korea, where the four seasons are distinctly felt, outdoor leisure activities change with the weather — swimming pools in summer often transform into skating rinks or sledding grounds in winter. As colder days settle in, seasonal attractions such as sledding hills and snow playgrounds are once again drawing crowds across Seoul. District governments have opened a range of winter-themed facilities, including snow playgrounds and hands-on activity zones, offering residents of all ages a chance to enjoy the season without leaving the city. Seocho District has converted the Yangjaecheon swimming pool site into a family-friendly “Winter Snow Playground,” which has been operating since Dec. 20. Now in its third year, the venue repurposes a 6,400-square-meter former outdoor pool into an urban sledding park, providing children and parents with a safe and accessible winter recreation space. The playground features snow sledding slopes along with children’s play areas such as trampolines, inflatable bounce houses for young children, and a snow play zone. Visitors can also take part in experiential programs including ice fishing, mock fishing activities, and curling. Greenhouses, tents, and snack shops are available to provide rest and convenience for families. This year, an additional sledding slope for young children has been newly installed alongside the existing adult slope, improving accessibility for different age groups. Decorative installations themed around a “Yangjaecheon Arctic Village” have also been set up near the entrance and around the snow play area to add visual appeal. The Winter Snow Playground will operate through Feb. 22 next year. Opening hours are from 10 a.m. to 5 p.m., Tuesday through Sunday, with closures on Mondays and on Lunar New Year’s Day. Admission fees are 6,000 won for Seocho District residents and 8,000 won for non-residents. Fees for certain programs, such as ice fishing, are announced on the Seocho District Office website. Winter skating rinks and snow play facilities set up across the city are offering citizens sparkling seasonal memories despite the cold weather. 2026-01-02 16:51:24
  • Chinas robotics supremacy set for full display at CES 2026
    China's robotics supremacy set for full display at CES 2026 SEOUL, January 02 (AJP) - To underscore how far China has come in robotics, humanoid robots are now being sold like vacuum cleaners and televisions at a shopping mall in Beijing. That supremacy will be on full display at CES 2026 in Las Vegas. According to official CES data, Chinese companies account for 21 of the 38 exhibitors in the humanoid robotics category this year, making up more than half of all participants. The lineup includes established players such as Unitree Robotics as well as first-time exhibitors like AgiBot and Noetix Robotics, all seeking to expand their footprint in overseas markets. The scale of participation reflects China's rapid ascent in a field widely seen as the next frontier of advanced manufacturing and artificial intelligence. Analysts say the sheer number of Chinese exhibitors points to a coordinated national push to dominate the humanoid robotics market before it fully matures. China has filed 7,705 humanoid-related patents over the past five years, far exceeding the 1,561 recorded in the United States over the same period, according to a December report by Morgan Stanley. The lead extends beyond intellectual property into manufacturing capacity, where Chinese firms are moving aggressively toward mass production. AgiBot recently rolled out its 5,000th humanoid robot, while UBTech Robotics plans to scale output to 5,000 units in 2026 and 10,000 units in 2027. By comparison, Tesla is believed to have produced only several hundred units of its Optimus humanoid so far. Unitree Robotics, a Hangzhou-based company often described as one of China's "Six Little Dragons" of emerging technology, opened what it calls the world's first offline humanoid robot retail store on Dec. 31 at a JD Mall in Beijing. Customers can purchase its G1 humanoid robot for about 85,000 yuan ($12,149), or its Go2 quadruped robot starting at around 10,000 yuan, after interacting with the machines in person. Orders can be fulfilled through JD's logistics network for delivery or in-store pickup. The retail rollout highlights a broader shift in how robots are being positioned in China — not merely as industrial equipment, but as consumer products akin to smartphones or home appliances. Behind this push lies a broader state strategy. Beijing has made "embodied intelligence" a core pillar of its upcoming 15th five-year plan, viewing robotics as a way to offset labor shortages caused by rapid population aging and falling birth rates. Pilot programs are already under way to deploy robots in households, nursing facilities and community centers. Globally, the humanoid robotics race is being led primarily by companies in China and the United States. Key players include Tesla, Figure AI, Boston Dynamics, Agility Robotics and Unitree Robotics. Boston Dynamics, acquired by Hyundai Motor Group in 2021 for $880 million, is technically a South Korean-owned company, though its research and engineering operations remain based in Massachusetts. South Korea will also showcase its ambitions at CES 2026. Hyundai Motor Group is set to debut the next-generation Atlas humanoid robot on stage, marking its transition from laboratory development to commercial demonstration. The automaker plans to pilot Atlas at its Metaplant America factory in Georgia. LG Electronics, meanwhile, will introduce its CLOiD home assistant robot, equipped with two articulated arms, seven degrees of freedom per arm and five-fingered hands designed to handle delicate household tasks. The United States will field its own group of humanoid robotics exhibitors at CES, though analysts note that many American firms remain focused on research, software development and pilot programs rather than mass manufacturing. China's advantage lies in its deep manufacturing ecosystem and cost competitiveness. Morgan Stanley estimates that building a supply chain for Tesla's Optimus Gen 2 without Chinese participation would cost nearly three times as much. The competitive stakes extend beyond the exhibition floor. Nvidia Chief Executive Jensen Huang is scheduled to deliver a keynote on Jan. 5 highlighting "physical AI" and robotics, including more than 20 use cases involving robot training and digital twin technologies. Nvidia projects that embodied AI could eventually transform 10 million factories and 200,000 warehouses worldwide. In Washington, Commerce Secretary Howard Lutnick has reportedly been meeting with robotics executives as part of discussions on a national strategy, with an executive order on robotics said to be under consideration. Running through Jan. 9, CES 2026 is expected to draw about 140,000 visitors from 160 countries. More than a technology showcase, the event is shaping up as a global barometer for which nations are best positioned to turn humanoid robots from experimental machines into everyday tools — and for now, China appears determined to lead that transition. 2026-01-02 16:15:53
  • Drug case involving Namyang Dairy heiress transferred to prosecutors
    Drug case involving Namyang Dairy heiress transferred to prosecutors SEOUL, January 2 (AJP) - A case involving Hwang Ha-na, the granddaughter of the founder of Namyang Dairy Products was transferred to prosecutors over drug-related allegations on Friday. According to police in Gwacheon, Gyeonggi Province, Hwang, 37, who was arrested last week after fleeing abroad is currently being questioned. The recidivist is suspected of having used methamphetamine again with two acquaintances in southern Seoul in 2023. Hwang reportedly fled to Thailand shortly after learning that she was the target of a police investigation in December 2023 and is believed to have lived in Cambodia after entering the country illegally with an invalid passport. She recently indicated that she would turn herself in, prompting officers to travel to Phnom Penh on Christmas Eve to arrest her, but she is reportedly denying all the allegations. However, some paparazzi media have raised suspicions that she was involved in drug distribution or sex trafficking while on the run. Hwang, who previously drew public attention for her relationship with singer-turned-actor Park Yoo-chun, was convicted of using methamphetamine three times between May and September 2015 at her home in Seoul and elsewhere and received a suspended prison sentence in 2019. The following year, she was again convicted on drug-related charges and received a harsher sentence of 20 months in prison. 2026-01-02 16:14:30