Journalist

Lee Hugh
  • Koreas M2 growth quickens to 8.7% in Oct; BOK rejects FX link
    Korea's M2 growth quickens to 8.7% in Oct; BOK rejects FX link SEOUL, December 16 (AJP) -South Korea’s broad money supply (M2) has remained in the 8-percent growth range since August and accelerated further to 8.7 percent in October, the Bank of Korea said Tuesday, while pushing back against claims that the liquidity increase is driving the won’s weakness. According to the central bank’s monetary aggregates report, the average M2 balance stood at 4,471.6 trillion won in October, up 0.9 percent from the previous month and 8.7 percent from a year earlier, marking the third consecutive month of annual growth above 8 percent. M2 includes cash, demand deposits and short-term financial instruments such as money market funds and certificates of deposit. The October increase was driven mainly by a 31.5 trillion won rise in securities-related balances, reflecting heavy stock market investment amid a rally in domestic equities. Regular deposits increased by 9.4 trillion won, partly due to banks’ regulatory funding needs. By sector, households and nonprofit organizations recorded a 24.1 trillion won increase in M2 balances, while other financial institutions and corporations also contributed to the expansion. Narrow money supply (M1), which includes only cash and demand deposits, rose 0.2 percent month on month and 8.1 percent year on year. Amid growing debate over whether rapid M2 growth is fueling asset inflation and foreign-exchange volatility, the Bank of Korea said it would revise its monetary statistics in line with updated International Monetary Fund (IMF) guidelines, with revised figures scheduled for release on Dec. 30. From November data onward, the central bank will publish two versions of M2—the current series and a measure excluding securities-related balances—for at least a year, in an effort to clarify underlying liquidity conditions. Kim Min-soo, head of the BOK’s financial statistics team, said securities accounted for 3.3 percentage points of October’s 8.7 percent M2 growth, or about 40 percent of the total increase. “Without securities, the growth rate would have been below 6 percent in September,” he said. The central bank stressed that liquidity alone is not driving housing prices or the exchange rate. Park Sung-jin, head of the BOK’s market operations team, noted that South Korea’s M2 definition differs from that of the United States, where securities are excluded, cautioning against direct comparisons of liquidity conditions across countries. He added that recent housing price increases in the Seoul metropolitan area cannot be attributed solely to money supply growth, pointing to macroprudential measures that have slowed household lending. As for the won, Park said exchange-rate movements are being shaped more by overseas securities investment, exporters’ foreign-currency holdings, and broader capital flows than by domestic liquidity expansion. As of 2:40 p.m. Tuesday, the dollar reversed direction after falling to 1,468 won earlier to 1,475.60 won, up 4.80 won last close on heavy foreign stock selling. 2025-12-16 14:48:02
  • Sookmyung Womens University team develops light-activated technology to break down fat
    Sookmyung Women's University team develops light-activated technology to break down fat SEOUL, December 16 (AJP) - A research team at Sookmyung Women’s University, led by Professor Byun Jun-ho in the College of Pharmacy, has developed a new nanotechnology that uses light to selectively break down fat inside fat cells, a potential advance toward safer and more precise obesity treatments. The researchers said in the study, announced on December 16, that the approach targets fat without damaging surrounding tissue, addressing safety concerns linked to existing obesity treatments. Obesity is one of the most common chronic health conditions worldwide and is closely associated with diabetes, cardiovascular disease, and fatty liver disease. Current treatments rely largely on medication or surgery, which can cause systemic side effects or require invasive procedures, increasing demand for more targeted alternatives. The team focused on a natural cellular recycling process known as chaperone-mediated autophagy, or CMA. CMA helps maintain balance inside cells by breaking down specific proteins, and recent studies have shown it plays a key role in fat metabolism. To activate this process selectively, the researchers developed a nanoparticle system embedded in a hydrogel. The nanoparticles are coated with membranes derived from fat cells, allowing them to be absorbed primarily by fat cells rather than immune cells or nearby tissue. Each particle also carries a drug that promotes fat breakdown. When near-infrared light is applied, the nanoparticles generate mild heat that activates a key CMA-related protein, HSC70. This triggers the breakdown of a protective protein surrounding fat droplets, allowing fat-digesting enzymes to access and dismantle stored fat. The effect occurs only inside fat cells. In animal tests using mice fed a high-fat diet, the treatment led to significant weight loss and clear reductions in fat tissue size and triglyceride accumulation after light exposure. The researchers reported no abnormal findings in major toxicity indicators, including liver and kidney function, supporting the potential of the approach as a localized treatment. Byun said the study differs from existing light-based fat treatments that destroy fat cells directly. “This strategy selectively breaks down fat by precisely controlling the cell’s natural degradation system,” he said, adding that the approach could eventually be expanded to metabolic and aging-related diseases linked to impaired autophagy. The findings were published in Advanced Materials, an international journal in materials science and nanobiotechnology. The study was conducted in collaboration with researchers from Seoul National University, Korea University, and the Korea Institute of Materials Science. ◆Journal: Advanced Materials (impact factor 26.8, JCR top 2.2 percent) ◆Title: Selective Lipolysis by Photoactivation of Chaperone-Mediated Autophagy Using Adipocyte Membrane-Coated Nanoparticle in Hydrogel ◆DOI: https://doi.org/10.1002/adma.202418445 2025-12-16 14:30:49
  • Ferrari selects Samsung Display OLED panels for next-generation vehicles
    Ferrari selects Samsung Display OLED panels for next-generation vehicles SEOUL, December 16 (AJP) - Ferrari will adopt automotive organic light-emitting diode (OLED) panels from Samsung Display for its next-generation vehicles, as the luxury sports carmaker seeks to enhance in-car digital experiences through advanced display technology. The Italian automaker said Tuesday Samsung Display’s panels were selected for their ability to support the innovative designs and form factors required for Ferrari’s future models. “Samsung Display’s expertise in designing and manufacturing thin and lightweight OLED panels is a clear advantage in enhancing the digital environment of Ferrari’s next-generation models,” Ernesto Lasalandra, Ferrari’s chief research and development officer, said in a statement. “In the luxury segment, improving the customer experience is key, and Samsung’s support was essential in introducing unprecedented custom advanced display solutions in the automotive industry,” he added. Lasalandra said the partnership reflects broader industry trends, including digitalization, user experience and premium branding, and highlights the growing role of cross-industry technology collaboration in driving automotive innovation. Park Jin-woo, executive vice president of Samsung Display, said the agreement underscores the South Korean company’s technological leadership in advanced displays. “When thinking of the world’s most iconic high-performance sports cars, Ferrari is the brand that comes to mind,” Park said, adding that both companies share values of passion, continuous innovation and a commitment to excellence. “Through this partnership, we aim to deliver exceptional value to consumers and further strengthen Samsung Display’s position as a leader in next-generation display innovation,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 14:27:57
  • Generative AI lowers barriers to cyberattacks as hacking cases jump in South Korea
    Generative AI lowers barriers to cyberattacks as hacking cases jump in South Korea SEOUL, December 16 (AJP) - Hacking crimes in South Korea have surged alongside advances in artificial intelligence, as generative AI tools lower the barriers to launching cyberattacks, according to a report released by the Korean National Police University. The university’s Crime Policy Research Institute said 2,617 hacking cases were recorded between January and September this year, up 30.6 percent from the same period a year earlier. Of those cases, 551 were solved, lifting the arrest rate to 21 percent, an increase of 3 percentage points from last year. Despite the improvement, the institute said investigative outcomes remain constrained by the growing sophistication of hacking techniques. “While investigative capabilities have improved to some extent, the rapid evolution of hacking methods is making crime tracking and prevention increasingly difficult,” the institute said in the report. The expansion of online and cloud-based systems across the corporate and public sectors has widened the pool of potential targets, while hackers are increasingly using AI to accelerate and scale their attacks. Generative AI can automatically design attack scenarios based on learned hacking patterns, posing a qualitatively new threat. By reducing the need for advanced coding skills, the technology allows even relatively inexperienced users to carry out cyberattacks. Overall cybercrime also continued to rise, increasing 22.6 percent through September from a year earlier. Cases of cyber sexual violence climbed 22.4 percent over the same period, the institute said. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-16 14:13:13
  • TRAVEL: Pohang, perfect place to catch New Years first sunrise along with winter delicacy
    TRAVEL: Pohang, perfect place to catch New Year's first sunrise along with winter delicacy SEOUL, December 16 (AJP) - South Korea's southeastern port city of Pohang is known as an industrial hub, but it also boasts scenic spots that attracts attract hordes of visitors at this time of year to witness the country's earliest and most stunning sunrises. About a 40-minute journey from the industrial city's KTX bullet train station takes visitors to Homigot at the easternmost tip of the Korean Peninsula. Famous for its iconic hand-shaped sculpture, the site draws large crowds on New Year's Day, eager to catch the year's first sunrise. The port city is also known for "gwamegi," a winter delicacy made from saury or herring that is semi-dried in the area's cold sea breeze, giving it a chewy texture and rich flavor. Every winter open-air markets near the small town of Guryongpo bustle with vendors selling stacks of this seasonal specialty, a culinary tradition handed down through generations. Some are neatly packaged for sale, while others hang in bundles tied with straw, catching the eyes of visitors. For locals, this signals the changing of seasons, while for food lovers, it marks the arrival of a winter delicacy, making gwamegi more than just food, but living cultural heritage. Gwamegi dates back to the Joseon Dynasty, when fishermen in Guryongpo began preserving the fish by hanging them to dry on wooden racks called "deokjang." As time passed, saury gradually replaced herring as the preferred fish. The area's frigid coastal winds during the winter help remove fishy odors while intensifying the flavor. this traditional process has become a vital winter industry that supports the local economy. With local catches dwindling, most gwamegi now comes from offshore sources. The frozen saury or herring is thawed, cleaned, split lengthwise, and hung on outdoor racks, where the sun and sea breeze dry it over several days to create the perfect gwamegi. Dried saury turns a deep black, while herring develops a golden hue. Gwamegi is often enjoyed wrapped in fresh vegetables and paired with other seafood, offering a savory flavor. With over 150 manufacturers producing more than 2,000 tons annually, Guryongpo now accounts for over 80 percent of the country's gwamegi supply. Another local favorite is "moriguksu," a hearty noodle soup made with seasonal fish and vegetables like bean sprouts, traditionally eaten by fishermen returning from the sea. Seasonal seafood such as snow crab or pufferfish adds freshness and depth to this comforting dish. A visit to Pohang in the final month of the year, enjoying local delicacies and watching the sunrise at Homigot, would leave a lasting memory, making it the perfect blend of natural beauty and culinary heritage. 2025-12-16 14:10:08
  • KAIST develops stretchable liquid-metal ink for invisible cloaking technology
    KAIST develops stretchable liquid-metal ink for invisible cloaking technology SEOUL, December 16 (AJP) - Researchers at the Korea Advanced Institute of Science and Technology have developed a stretchable liquid-metal ink that allows electromagnetic cloaking properties to change as the material is stretched, a breakthrough that could expand the practical use of invisible cloaking technology in robotics, wearables, and defense applications. The research was announced on December 16 by the Korea Advanced Institute of Science and Technology (KAIST). The study was led by Professor Kim Hyung-soo of the Department of Mechanical Engineering and Professor Park Sang-hoo of the Department of Nuclear and Quantum Engineering. The concept behind cloaking technology is to make an object undetectable to radar or sensors by controlling how electromagnetic waves, such as radio waves, interact with its surface. While cloaking has long been studied in theory and in rigid materials, applying it to moving or flexible objects has remained difficult because conventional metals conduct electricity well but break easily when stretched. The KAIST team addressed this limitation by developing a liquid metal composite ink, known as LMCP, that maintains electrical conductivity even when stretched up to 12 times its original length. The ink also showed high durability, remaining stable in open air for nearly a year without significant corrosion or performance loss. Unlike solid metals, the ink behaves like rubber while retaining metallic conductivity. This is possible because liquid metal particles inside the ink naturally form a network-like structure as the material dries, creating a self-connected conductive pathway. When printed in repeating microscopic patterns, the structure functions as a type of metamaterial, an engineered material designed to manipulate electromagnetic waves in specific ways. Using this ink, the researchers demonstrated the world's first stretchable electromagnetic metamaterial absorber whose radar absorption properties change depending on how much it is stretched. Simply pulling the material like a rubber band altered the frequency range of electromagnetic waves it could absorb, showing that cloaking performance could be actively tuned through physical deformation. The fabrication process is also relatively simple. The ink can be printed or brushed onto a surface and dried without the need for high-temperature processing, lasers, or complex manufacturing equipment. It also avoids common problems seen in liquid-based materials, such as cracking or uneven drying, allowing for smooth and uniform metal patterns. According to the researchers, the technology could be applied to robot skins that move and deform, body-worn electronic devices, and next-generation stealth systems that require adaptability rather than fixed shapes. By allowing cloaking performance to respond dynamically to movement, the material opens possibilities that were previously difficult to achieve with rigid designs. Professor Kim said the research shows that advanced electromagnetic functions can be realized through simple printing processes without complex machinery. He added that the technology could serve as a foundation for future applications ranging from wearable electronics to radar stealth systems. The findings were published in the October 2025 issue of the international journal Small, published by Wiley, and were selected as a cover article. The study was supported by a mid-career research grant from the National Research Foundation of Korea and the KAIST UP Program. The research team included first author Dr. Pyeon Jeong-su, co-author Lee Hyunseung, and Professor Choi Won-ho, with Professors Kim Hyungsoo and Park Sang-hoo serving as corresponding authors. 2025-12-16 14:06:05
  • Koreas nominee to head media regulator approves of Australia-like SNS ban for minors
    Korea's nominee to head media regulator approves of Australia-like SNS ban for minors SEOUL, December 16 (AJP) -South Korea’s nominee to head the new government authority responsible for policy and oversight of legacy and online contents providers said Tuesday the regulator would consider Australia-style protections for minors on social media and take action against illegal practices by Coupang and other platform operators following fact-finding investigations. Kim Jong-cheol, a constitutional law professor at Yonsei University, made the remarks during his confirmation hearing before the National Assembly’s Science, ICT, Broadcasting and Communications Committee, outlining his priorities as the inaugural chair of the Korea Media Communications Commission (KMCC). Kim was nominated in early December to lead the KMCC, which was launched in October as part of a sweeping overhaul of South Korea’s media governance framework. The new commission replaces the Korea Communications Commission and absorbs select oversight functions from the Ministry of Science and ICT, including supervision of online platforms, subscription-based services and emerging digital media. Protecting young users would be a central focus of the commission’s work, Kim said, stressing the need to ensure a safe digital environment within a fair communications order. He said the KMCC would look into the Australia-style measures aimed at limiting harmful social media exposure for minors. In his opening statement, Kim said he would transform the KMCC into a “national communications commission” that promotes both safe and free communication, as the broadcasting, media and telecommunications industries face growing pressure from global competition, artificial intelligence and rising consumer harm. Kim pledged a zero-tolerance stance toward illegal online content with serious social consequences, including disinformation, drug-related material and sexual exploitation content, while emphasizing the importance of raising transparency across internet services so users can better understand how platforms operate. Addressing platform regulation, Kim said the commission is conducting fact-finding investigations into Coupang and other platform operators over subscription cancellation practices that lawmakers have criticized as excessively complicated compared with sign-up processes. “Businesses are free to operate,” Kim said, “but when withdrawal procedures are overly complex, it becomes a matter of user protection.” He added that the KMCC would take action within the limits of the law if illegal conduct is confirmed. Lawmakers also raised concerns over in-app payment systems, noting that South Korea has lagged behind the United States in imposing penalties on dominant platform operators. Kim attributed the delay to the prolonged formation of the commission and said corrective measures would be pursued once the KMCC is fully staffed. On industry policy, Kim said outdated and unnecessary regulations would be actively revised, underscoring the need to balance regulation with promotion to stimulate innovation in the broadcasting and media sector. He also pledged to expand the use of AI and digital technologies across the media value chain and to support overseas expansion by Korean content companies. Kim highlighted the sector’s low AI adoption, estimating utilization at around 10 percent, compared with roughly 30 percent across the broader industrial ecosystem, and said targeted investment would be necessary for South Korea to strengthen its position as a global AI leader. Despite the global spread of K-content and the Korean Wave, Kim said government support for the broadcasting and media sector has been insufficient, pointing to recent budget cuts as a missed opportunity. He also pledged to review the public broadcasting system, expand infrastructure to enhance universal access to media, strengthen dispute-resolution mechanisms in the media and communications sector, and respond firmly to unfair practices by digital platform operators. “As a constitutional scholar,” Kim said, “I will stabilize the KMCC as quickly as possible and resolve the many pending issues step by step, listening carefully to commissioners and communicating with an open mind.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 13:57:57
  • Koreas construction sector posts sharpest downturn in decades amid weak domestic demand
    Korea's construction sector posts sharpest downturn in decades amid weak domestic demand SEOUL, December 16 (AJP) - South Korea’s construction industry recorded its sharpest revenue decline since 1999 last year, as weak domestic demand weighed heavily on the sector, official data showed on Tuesday. According to the 2025 Construction Industry Survey released by the National Data Agency, industry revenue fell 3.8 percent from a year earlier to 487.7 trillion won. It marked the largest annual contraction in more than two decades. The downturn was most pronounced in the domestic market, where revenue slid 5.6 percent to 439.3 trillion won. In contrast, overseas construction revenue rose 17.1 percent to 48.4 trillion won, offering limited relief to the overall industry. Construction costs and value added also posted their steepest declines since 1999. Total construction costs fell 2.6 percent to 477.7 trillion won, while value added dropped 5.2 percent to 143.2 trillion won. Employment in the sector continued to shrink, with the number of construction workers down 2.8 percent to 1.76 million. Employment in general construction fell 3.9 percent to 1.129 million, while specialized construction employment declined 1 percent to 629,000. Despite the contraction, the number of registered construction companies increased 1.4 percent from a year earlier to 89,101. “The impact of the construction market downturn is becoming increasingly evident, with key indicators pointing to a very difficult situation since last year,” the National Data Agency said in a press release. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 13:42:42
  • Multi-award-winning Korean pianist hospitalized after distressing message
    Multi-award-winning Korean pianist hospitalized after distressing message SEOUL, December 16 (AJP) -Multi-award-winning South Korean pianist Lim Dong-hyek is recuperating after being taken to a hospital Monday after police responded to concerns over a handwritten message he posted on social media that appeared to signal emotional distress. Seoul’s Seocho Police received a report at around 8:30 a.m. and located Lim in Seocho-dong, southern Seoul. He was transferred to a nearby hospital for treatment and is reported to be in stable condition, with no immediate threat to his life. Earlier that morning, at 7:34 a.m., Lim shared a handwritten letter detailing his long-term struggle with severe depression, saying he has taken antidepressants daily since 2015. “Antidepressants are not inherently bad,” he wrote, “but my illness itself has caused me prolonged pain.” In the post, Lim also addressed allegations raised by his former wife, identified only by her surname Cha, who accused him of sending obscene messages during divorce proceedings. Lim denied the claims, stating that he was neither involved in such actions nor engaged in divorce litigation. He concluded the message by taking responsibility for his conduct, expressing gratitude to supporters, and wishing them happiness and good fortune. Lim, one of South Korea’s most internationally recognized pianists, rose to prominence at a young age through a series of major competition successes. In 1996, he gained global attention after winning second prize at the Chopin Competition for Young Pianists in Moscow, where he was the youngest participant and finished just behind his older brother, Lim Dong-min, who tied for first. He went on to place fifth at the Busoni International Piano Competition in Italy in 2000, and won second prize at the Hamamatsu International Piano Competition in Japan the same year. In 2001, Lim became the youngest winner of the Premier Grand Prix at the Marguerite Long–Jacques Thibaud International Piano Competition in Paris, also receiving five special awards. Lim later shared third prize with his brother at the 2005 International Chopin Piano Competition in Warsaw, where no second prize was awarded, and placed fourth at the 2007 Tchaikovsky Competition in Moscow, another edition in which no first prize was given. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 13:24:46
  • Korea, Qatar broaden green energy ties, coinciding with National Day  
    Korea, Qatar broaden green energy ties, coinciding with National Day   SEOUL, December 16 (AJP) - Green energy projects, led by large-scale solar power, dominated senior-level discussions in Seoul this week as Korea and Qatar reconfirmed a broadening of bilateral energy cooperation beyond liquefied natural gas, long the backbone of their relationship. At a reception held Monday ahead of Qatar's National Day on Dec. 18, Khalid bin Ebrahim Al-Hamar, Qatar's ambassador to Korea, highlighted a flagship renewable project involving Korean companies: a 2,000-megawatt solar power plant being developed in the Dukhan area west of Doha. "The QatarEnergy project to build a solar power station in Dukhan, with a production capacity of 2,000 megawatts, is the largest solar power plant implemented by Korean companies in the region," Al-Hamar said, describing it as a milestone in the evolution of bilateral energy ties. The project underscores how cooperation between the two countries has expanded beyond hydrocarbons and construction into renewables, low-carbon manufacturing and advanced digital infrastructure. Al-Hamar said relations had matured into a comprehensive strategic partnership spanning health care, education, youth exchanges, agriculture, smart networks, investment, culture and sports. Renewable energy has become a central pillar of Qatar's broader economic diversification drive. Samsung C&T Corp. said in September it had secured a 1.46 trillion won ($993 million) contract from QatarEnergy to build the Dukhan solar facility, which will cover roughly 27 square kilometres — about nine times the size of Seoul’s Yeouido district — and deploy around 2.74 million solar panels. Scheduled for completion in 2030, the project is expected to be the largest solar power plant ever built by a Korean construction company. At the same time, Korean firms continue to expand their footprint in Qatar's conventional power sector. Doosan Enerbility announced on Monday that it had signed a 130 billion won contract to supply key equipment for a 2,400-megawatt gas combined-cycle power plant, known as "Facility E," to be built southeast of Doha. Under the agreement with Samsung C&T, Doosan will deliver steam turbines, generators and auxiliary equipment by 2029. The deal follows a 290 billion won combined cycle power plant, PP12 (Power Plant 12), secured by Doosan earlier this year, highlighting how renewable and thermal power projects are advancing in parallel as Qatar balances energy security with decarbonization goals. Kwon Oh-eul, Korea's Minister of Patriots and Veterans Affairs, said Qatar remained a critical energy supplier for Korea, contributing to the country's energy security, while Korean companies have played a key role in Qatar's urban development, plant construction and shipbuilding. He noted that the two countries elevated ties to a comprehensive strategic partnership at a 2023 summit, expanding cooperation to defense, artificial intelligence and health care. 2025-12-16 13:16:00