Journalist
Lee Hugh
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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 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 -
Asian markets weaken early Tuesday as AI jitters and rate decisions loom SEOUL, December 16 (AJP) - Asian equities opened Tuesday broadly lower, tracking subdued U.S. market sentiment as lingering concerns over AI valuations and looming interest-rate decisions by European and Japanese central banks weighed on risk appetite. In Seoul, the KOSPI fell 1.5 percent to 4,028 as of 10:30 a.m., extending losses for a second straight session after dropping 1.8 percent on Monday. Institutional investors were net sellers of 223 billion won ($151 million), while foreign investors sold 150 billion won, doubling down on bets that the market’s recent rally is losing momentum. Retail investors, however, continued to buy—net purchasing 386 billion won—as they positioned for a potential year-end “Santa rally,” mirroring the previous day’s flow. The Korean won traded at 1,471.3 per dollar as of 10 a.m., up 0.5 won from the prior session. The modest appreciation was attributed to foreign selling in local equities and the extension of the foreign-exchange swap arrangement between the central bank and the National Pension Service. Large caps mixed as investors rotate to defensives Market heavyweights showed divergent moves. SK hynix slid 1.3 percent to 545,000 won, breaking below the 550,000-won threshold, while Samsung Electronics was flat at 104,500 won, suggesting a rotation toward relatively defensive blue-chip names amid rising uncertainty. Hyundai Motor fell 2 percent to 287,500 won, extending Monday’s losses, as reports suggesting its autonomous-driving technology lags rivals such as Tesla, BYD and GM by as much as five years continued to pressure sentiment. Hyundai Engineering & Construction plunged 5.35 percent to 69,300 won for a second consecutive day, amid concerns that its energy and AI campus project with Fermi America may collapse. The Hyundai conglomerate is also expected to announce a sweeping C-suite reshuffle this week. Hyundai Mobis, the de facto holding company of Hyundai Motor Group, dropped 1.5 percent to 359,000 won, tracking the weak performance of its affiliates. Korea Zinc erased the previous session’s gains, plunging 11.6 percent to 1.4 million won. While the company confirmed plans to build a 2 trillion won smelter in the United States, investor sentiment cooled after it emerged that the U.S. government’s direct equity contribution would amount to only about 2 percent of total project costs. Biotech shares bucked the broader weakness for a second day. Samsung Biologics rose 1.1 percent to 1.79 million won, extending gains after its affiliate Samsung EpiHolding surged a day earlier. KOSDAQ underperforms, robots retreat The tech-heavy KOSDAQ fell more sharply, down 1.7 percent to 923. Foreign investors sold 246.3 billion won, while institutions offloaded 63.6 billion won. Retail investors stepped in with net purchases of 340 billion won. Robot-related stocks led declines. Rainbow Robotics dropped 3.9 percent to 459,000 won, while Robotis slid 5 percent to 295,000 won. Biotech names also struggled to maintain momentum. Alteogen, which recently decided to transfer its listing to the KOSPI, fell 2 percent to 425,000 won, while ABL Bio, after surging Monday, slipped 1.9 percent to 192,000 won. Japan, Taiwan, China follow regional downtrend Japan’s Nikkei 225 fell 0.95 percent to 49,695 as of 10 a.m., with semiconductor-related stocks again under pressure. Ibiden declined 1.9 percent to 11,600 yen ($74.8), and Kioxia Holdings dropped 2.75 percent to 8,945 yen. Advantest was flat at 19,470 yen, as some investors saw signs of a near-term bottom. Toyota edged down 0.2 percent to 3,344 yen, with losses moderating as investors gravitated toward stable blue-chip names—echoing patterns seen in Seoul. Taiwan’s TAIEX fell 0.6 percent to 27,691. TSMC slipped 1 percent to 1,435 Taiwan dollars ($45.7), while MediaTek rose 1.8 percent to 1,445 Taiwan dollars, supported by stronger demand from China and favorable reviews of its new Dimensity 9500 chipset. Mainland Chinese markets were subdued. The Shanghai Composite dipped 0.4 percent to 3,850, while the Shenzhen Component fell 0.3 percent to 13,072. Hong Kong’s Hang Seng Index declined 0.7 percent to 25,450, a milder drop than Monday despite its closer correlation with U.S. markets. 2025-12-16 11:20:36 -
Hanwha completes acquisition of Indonesia's Ciptadana Asset Management SEOUL, December 16 (AJP) - Hanwha Investment & Securities said on Tuesday it has completed the acquisition of Ciptadana Asset Management in Indonesia, strengthening its foothold in Southeast Asia’s fast-growing capital markets. Ciptadana Asset Management is part of Indonesia’s sixth-largest conglomerate, Lippo Group, and has more than 30 years of experience in the country’s financial sector. Hanwha agreed in 2023 to acquire an 80 percent stake in both Ciptadana Securities and Ciptadana Asset Management. After completing the takeover of Ciptadana Securities in October last year, the South Korean firm received final approval from Indonesia’s Financial Services Authority for the asset management acquisition. The transaction was finalized recently, giving Hanwha a dual-track presence in Indonesia across securities brokerage and asset management, Hanwha said. Hanwha plans to deepen its strategic partnership with Lippo Group and introduce digital asset management solutions tailored to local market conditions and customer needs. “Ciptadana Securities and Ciptadana Asset Management will play a key role in developing Indonesia’s digital financial ecosystem,” Jang Byung-ho, chief executive officer of Hanwha Investment & Securities, said in a press release. “We will continue to support their growth with the aim of becoming a leader in the ASEAN financial market.” * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-16 11:11:38 -
PHOTOS:$1 burger, Korea University honors priceless legacy SEOUL, December 16 (AJP) - Korea University students still stop by their favorite burger shop — even though its friendly owner is no longer there. Instead of ordering food, they leave flowers and handwritten thank-you notes, mourning Lee Young-chul (1968~2025), the beloved owner of Young Chul Burger, who passed away last week at the age of 57. For more than two decades, Lee sold 1,000-won burgers to hungry students near the university’s Anam campus. To many, he was not just a shopkeeper but an uncle-like mentor who quietly fed generations through hard times. Online condolence boards filled quickly, with more than 1,300 messages posted. Alumni — including graduates from the classes of 2005 and 2009 — returned to leave tributes. Around 40 mourners sent funeral wreaths, a rare sight for a small neighborhood eatery. Born in 1968 in Haenam, South Jeolla Province, Lee lost his father in elementary school and moved to Seoul to survive on odd jobs — from working at Chinese restaurants to day labor. Crushed by debt, he began selling burgers from a handcart in front of Korea University in 2000. His signature “street burger” — made with a hot-dog bun, grilled meat, cabbage and sauce — quickly gained a reputation for its taste and generosity. Even when ingredient prices rose and profits disappeared, Lee refused to raise the price. Beginning in 2004, he donated 20 million won annually to Korea University for scholarships, contributing more than 100 million won in total. When financial difficulties forced him to close the shop in 2015, students raised 68 million won to help him reopen. Lee died on December 13 after battling lung cancer. “Lee showed great kindness and love to Korea University students for decades,” said Kim Dong-one, president of Korea University, during a visit to the funeral parlor. “He fed students during difficult times with his 1,000-won burgers and gave back through scholarships year after year.” To honor his legacy, Korea University will establish a scholarship in his name and cover his funeral expenses. At the storefront where students once lined up for a warm, affordable meal, silence has replaced the sizzle — but gratitude remains, handwritten and laid gently at the door. 2025-12-16 11:09:47 -
Samsung Electronics steps up B2B push with HVAC, displays, AI solutions SEOUL, December 16 (AJP) - Samsung Electronics is ramping up its push into the business-to-business market, expanding its air conditioning portfolio into industrial applications and broadening its presence in corporate displays and connected building solutions for enterprise clients. According to industry sources, Samsung has reinforced its Air Solution team within the Digital Appliances division as it shifts focus from consumer-oriented air conditioners to industrial, infrastructure and large-scale commercial systems. The move comes as demand for heating, ventilation and air conditioning (HVAC) systems is expected to surge with the expansion of artificial intelligence data centers, which require advanced cooling technologies. Global Market Insights forecasts the global HVAC market will grow from $31.06 billion in 2024 to $54.54 billion by 2034. Last month, Samsung acquired FlaktGroup, Germany’s largest HVAC specialist, for 1.5 billion euros ($2.4 billion), securing advanced industrial cooling expertise. FlaktGroup supplies HVAC systems to data centres, hospitals and large commercial facilities across Europe and other regions. Samsung aims to use FlaktGroup’s technologies alongside its own AI-based building control platform to strengthen its offering of customized cooling solutions for data centers and other corporate clients, industry officials said. The company is also reviewing plans to integrate FlaktGroup’s technologies into its domestic manufacturing operations, potentially at its Gwangju plant, a major hub for Samsung’s home appliance production. Beyond HVAC, Samsung is expanding its footprint in the corporate display market, where it has gained traction in specialized segments requiring ultra-high-definition and large-format LED displays. Last month, Samsung supplied around 6,000 televisions and smart signage units to Royal Caribbean Cruises’ Star of the Seas, billed as the world’s largest cruise ship. In 2023, the company installed hotel televisions and its micro LED display product, The Wall, at the Hilton Waikiki in Hawaii, and delivered commercial displays to major hotels including Kempinski in Bali and Marina Bay Sands in Singapore. Industry analysts note that corporate displays typically command higher margins than consumer products, as they rely on advanced technologies and customised installations, helping offset the slowing growth of the mature consumer electronics market. Samsung’s broader B2B expansion is expected to accelerate as consumer demand stagnates and enterprises increasingly seek integrated solutions combining AI and internet-of-things technologies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 10:34:12 -
Celltrion launches Eylea biosimilar in Europe, secures UK healthcare tenders SEOUL, December 16 (AJP) - South Korean biopharmaceutical company Celltrion said it launched Eydenzelt, its biosimilar version of blockbuster eye disease treatment Eylea, in major European markets including Germany and Britain earlier this month as it seeks to expand its foothold in the lucrative ophthalmology sector. The company's UK subsidiary secured National Health Service tenders in three administrative regions immediately upon launch, including northern England, the country's largest procurement zone, where Eydenzelt became the only officially listed biosimilar, Celltrion said Tuesday. Celltrion has also rolled out Eydenzelt in Portugal, where it plans to target government tenders that account for about 60 percent of the national market. The company aims to progressively expand its European sales footprint through next year to accelerate prescriptions. "Celltrion, recognized as a biosimilar powerhouse across Europe, plans to leverage its marketing prowess and brand credibility built through years of direct sales to ensure the successful market entry of Eydenzelt," a company official said. The company intends to tap into existing networks of healthcare professionals established through its portfolio of autoimmune and oncology biosimilars, expecting brand loyalty to carry over to the new ophthalmic product. Eydenzelt targets the same conditions as Eylea, a treatment for wet age-related macular degeneration and diabetic eye diseases that generated about $9.5 billion in global sales last year. Celltrion obtained European Commission approval for both vial and pre-filled syringe formulations of the biosimilar in February. The launch is expected to ease healthcare spending burdens across European nations while broadening treatment options for patients suffering from retinal disorders. 2025-12-16 10:01:08 -
Hyundai Motor extends World Archery sponsorship through 2028 SEOUL, December 16 (AJP) - Hyundai Motor said on Tuesday it will extend its partnership with World Archery until 2028, maintaining its title sponsorship of the World Archery Championships and the Archery World Cup. The South Korean automaker first partnered with World Archery in 2016. Under the renewed agreement, Hyundai will also sponsor the Para Archery World Series and the Indoor Archery World Series. The Para Archery World Series, a development-focused program for athletes with disabilities, is set to launch in 2026 and will be held in six countries, including Thailand, Chile and the United States. The Indoor Archery World Series, which is open to participants of all levels, will run annually from October to March in seven countries, including France and the United States. Hyundai said it plans to further enhance its global brand positioning by incorporating robotics sponsorship into major archery events, integrating its technology and brand messaging on an international stage. “The partnership with Hyundai has been a driving force for the growth of archery worldwide since 2016,” Greg Easton, the newly appointed president of World Archery, said in a statement. He added that expanded support for para archery and public participation programs from 2026 would strengthen both inclusivity and elite competition. Hyundai Motor Chief Executive Jose Munoz said archery reflects the values of precision, focus and excellence that underpin the company’s brand. “This renewal, guided by the vision of Chairman Chung Eui-sun, will help enhance inclusivity and accessibility in sport through our support for para and indoor archery,” he said. Hyundai’s involvement in the sport dates back to 1985, when honorary chairman Chung Mong-koo led the Korea Archery Association. Since 2005, Chairman Chung Eui-sun has continued to support the development of Korean archery, with an emphasis on scientific training systems and athlete development — efforts widely credited with helping South Korea achieve sustained success on the global stage. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 09:48:28 -
An Se-young named world's top badminton player for third straight year SEOUL, December 16 (AJP) - Badminton player An Se-young has been named this year's top player by the Badminton World Federation (BWF). The world No. 1 in women's singles received the award at the BWF's annual gala dinner in Hangzhou, China on Monday, beating competitors such as Wang Zhiyi and Chen Yufei of China, and Japan's Akane Yamaguchi. With the award, An became the first female player to win it three years in a row, having first received the honor in 2023 following her triumph at the 2022 Asian Games in Hangzhou. An was also voted the best player by her fellow players for the second consecutive year, a recognition that was first created last year. She expressed her thanks, saying, "Receiving these awards is both an honor and an encouragement to work harder. Winning proves my efforts, but being recognized by fellow players makes it even more special." An competed in 14 international tournaments this year and secured 10 victories, breaking her own record of nine wins set in 2023. While in the Chinese city, An is set to play in the BWF World Tour Finals later this week. A victory would tie her with former Japanese player Kento Momota's 2019 record of 11 wins in a single season. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 09:31:05 -
Seoul and London upgrade FTA, lower tariff for Korean cars and consumer goods SEOUL, December 16 (AJP) -South Korea and the United Kingdom have finalized an upgraded free trade agreement that locks in permanent tariff-free access across 98 percent of South Korean tariff lines, marking one of the most comprehensive post-Brexit trade resets between the two countries. The revised agreement, signed in London on Monday by South Korean Trade Minister Yeo Han-koo and UK Trade Minister Chris Bryant, concludes two years of negotiations aimed at modernizing the bilateral pact originally rolled over from the Korea-EU FTA after Brexit. With the temporary UK-Korea trade arrangement set to expire in January 2026, the new deal removes lingering uncertainty for exporters on both sides. According to the U.K. Department of Business Trade, Korea is the UK's 25th largest trading partner, accounting for 0.8 percent of the UK total trade in the 12 months to the end of June this year. At its core, the updated FTA significantly loosens rules of origin, most notably for automobiles, by lowering the domestic value-added threshold for tariff-free treatment from 55 percent to 25 percent. The change is expected to benefit Korean automakers and consumer-goods exporters while aligning UK practice more closely with EU standards. Car exports accounted for 36 percent of Korea's total exports to UK last year. The agreement also expands tariff exemptions to K-beauty and processed food products, allowing preferential access even when key ingredients are sourced from third countries, provided substantial processing takes place in Korea. For British exporters, the deal safeguards an estimated £2 billion worth of exports that would otherwise have faced higher duties once the temporary regime expired. The two governments will also streamline visa system under the upgraded FTA to facilitate the entry of Korean engineers and special workforces responsible for building manufacturing plants in Britain. Beyond goods trade, the revised FTA opens new ground in government procurement and services. The UK agreed to open its high-speed rail market — correcting what Seoul has long described as an imbalance — while expanding access for Korean firms in online gaming, advertising, translation and emerging technologies such as artificial intelligence. Visa procedures were also streamlined to reduce risks for engineers and skilled workers dispatched for large-scale industrial projects. A major pillar of the deal is the introduction of comprehensive digital trade norms, including freer cross-border data transfers, consumer protection standards and legal certainty for digital and audiovisual services — areas largely absent from earlier-generation FTAs. The agreement also establishes a supply-chain cooperation chapter covering joint research and development, material shortages and international standard-setting. “This agreement will help reinforce the free-market order at a time of growing protectionism and deepen economic cooperation with the UK, our key European partner,” Yeo said, adding that Seoul would move swiftly to complete legal reviews, impact assessments and parliamentary approval. Bryant said the deal provides “cast-iron protections” for British industries and supports growth in services, manufacturing and advanced technologies. British business groups welcomed the pact. Rain Newton-Smith, CEO of the Confederation of British Industry, said the agreement would “power growth through collaboration in advanced manufacturing, digital, services, clean energy and creative industries,” adding that it turns ambition into “long-term, sustainable growth” for both economies. The pharmaceutical sector also highlighted gains, with the Association of the British Pharmaceutical Industry noting expanded regulatory cooperation and new opportunities in South Korea’s fast-growing life-sciences market. 2025-12-16 09:24:31