Journalist
Lee Hugh
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Lee, Laotian president agree to strengthen bilateral partnership SEOUL, December 15 (AJP) - President Lee Jae Myung met with visiting Laotian President Thongloun Sisoulith in Seoul on Monday. During their summit at the presidential office in Yongsan, Seoul, the two leaders agreed to elevate their bilateral relationship to a comprehensive partnership, as the two countries mark 30 years of diplomatic relations. "Trade and investment have grown remarkably since 1995, with bilateral trade increasing 20-fold," Lee said, adding that mutual visits reached a record high last year. Lee emphasized South Korea's role as a key partner for Laos while highlighting Laos' importance to Seoul's efforts for ASEAN and Mekong cooperation. Lee also praised Laos' rich natural resources and called for cooperation in building a mineral supply chain, while pledging support for the country's development as a transport hub under Thongloun's leadership. Sisoulith expressed hope for strengthened bilateral relations and requested South Korea's continued support for Laos' development. Following the summit, the two sides signed multiple memorandums of understanding (MOUs) on combating transnational crimes including online scams and phishing schemes, as well as labor-related agreements for foreign workers here. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 16:12:59 -
Samsung Heavy secures key certification for 'floating nuclear reactor' design SEOUL, December 15 (AJP) - Samsung Heavy Industries said on Monday it has received preliminary certification for its floating nuclear power platform equipped with small modular reactors, marking a key step in its push into the emerging maritime nuclear energy market. The American Bureau of Shipping (ABS) granted Approval in Principle (AIP) for Samsung Heavy’s Floating Small Modular Reactor (FSMR) design, which incorporates two SMART 100 reactors developed by the Korea Atomic Energy Research Institute (KAERI), the company said. The SMART 100 is a 100-megawatt integrated small modular reactor that received standard design approval from South Korea’s Nuclear Safety and Security Commission in September 2024. Under the project, Samsung Heavy integrated the SMR technology with a floating structure. It carried out the overall design of the nuclear power facility and developed a multi-barrier reactor containment system, while KAERI modified the reactor design for maritime use. Ahn Young-kyu, head of Samsung Heavy’s technology development division, described the certification as a “significant milestone” in the company’s efforts to pioneer the maritime nuclear power sector. “We will continue to secure safe and economical maritime nuclear technologies by leveraging our expertise in floating structures,” Ahn said in a press release. Samsung Heavy said the FSMR is a flexible floating nuclear facility concept capable of accommodating different SMR types. Its compartment-based design allows the reactor section to be adapted without altering the overall platform structure, improving scalability and construction efficiency. Safety and efficiency are further enhanced by housing the reactor and key safety systems within a single containment module, enabling land-based testing before offshore installation, the company said. Cho Jin-young, director of KAERI’s Advanced Reactor Research Division, said the approval validated the competitiveness of South Korea’s SMR technology. “This AIP certification using SMART 100 demonstrates the innovation of our nuclear technology,” Cho said. “We will accelerate development to establish South Korea as a leader in the marine nuclear industry.” * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-15 15:47:59 -
CJ Olive Young tops Korea's most-wanted employers list, survey shows SEOUL, December 15 (AJP) - CJ Olive Young has emerged as South Korea’s most sought-after employer in 2025, overtaking technology heavyweights SK hynix and Naver, according to a survey released by local recruitment platform Catch on Saturday. The survey, which polled 3,079 job seekers and employees nationwide, found that 20 percent of respondents selected CJ Olive Young as the company they most want to join. The beauty retailer climbed two spots from last year’s third place, buoyed by the global rise of K-beauty and its growing brand influence. SK hynix, which ranked first last year, slipped to second place with 15 percent support, while Naver placed third with 8 percent. Hyundai Motor and Samsung Electronics tied for fourth place at 7 percent each, followed by CJ CheilJedang in sixth place with 5 percent. Several companies newly entered the top 10 this year, including Kakao Pay and Amorepacific, which tied for seventh place with 2 percent each. Samsung Biologics ranked ninth, while Hanwha Aerospace placed tenth, also with 2 percent. When asked what matters most in choosing an employer, respondents cited salary and compensation as the top factor at 48 percent, followed by brand recognition at 21 percent. Other considerations included alignment with one’s major or interests (11 percent), work-life balance (10 percent), and organizational culture (5 percent). The survey was conducted among 40 companies with the highest levels of user engagement on Catch’s platform, with rankings determined through direct voting by job seekers and employees. 2025-12-15 15:41:58 -
Game developer Netmarble appoints new head for Japanese unit SEOUL, December 15 (AJP) - South Korean game developer Netmarble appointed Kim Do-hyung as CEO of its Japanese subsidiary, Netmarble Japan, as it seeks to accelerate growth and diversify revenue in one of its key overseas markets. Kim is a veteran of the Japanese intellectual property (IP) sector, with experience dating back to the early 1990s in introducing Japanese game and manga IPs to South Korea. He has been involved in developing online games such as SD Gundam Capsule Fighter Online, which adapted popular manga and anime franchises for the gaming market. His career includes founding a game development studio in Japan and launching manga publishing and webtoon platforms. Netmarble said Kim is known for his end-to-end understanding of the IP value chain, from discovery and content planning to platform expansion. Netmarble plans to leverage Kim’s expertise to broaden its portfolio of IP-based games in Japan. The company also aims to enhance the value of Japanese IPs by forming direct partnerships with local publishers and studios, while expanding those franchises globally through its development studios in South Korea, North America and Hong Kong. Netmarble said this strategy would position Japanese IP as a key growth engine for the group. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 15:33:58 -
Korean Air chief donates 100 million won to athletes ahead of Winter Olympics SEOUL, December 15 (AJP) - Hanjin Group chairman and Korean Air president Cho Won-tae on Monday donated 100 Korean million (about US$70,000) to support athletes preparing for the upcoming Winter Olympics in northern Italy in February next year. Cho, who currently serves as Vice President of the Korean Sport & Olympic Committee, toured key facilities at a national team training center in Jincheon, North Chungcheong Province, encouraging athletes including short-track speed skaters and coaches. Cho has also led the Korea Volleyball Federation since 2017, with the country's flagship carrier actively supporting sports through its men's professional volleyball team and women's table tennis team. Meanwhile, the quadrennial sporting event on snow and ice will kick off its month-long run in Cortina d'Ampezzo and Milan on Feb. 6. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 15:32:00 -
GM Korea dismisses exit speculation, pledges $300 million investment for 2026 SEOUL, December 15 (AJP) - General Motors (GM) Korea on Monday moved to quell persistent speculation about a market withdrawal, unveiling a sweeping 2026 business strategy that underscores its commitment to both exports and domestic sales. GM Korea held its "GM Korea 2026 Business Strategy Conference" at the Cheongna Proving Ground in Incheon, where executives highlighted the country's pivotal role in the Detroit automaker's global supply chain. The company said it would invest about $300 million next year and launch at least four new models. The announcement comes as GM Korea navigates the fallout from U.S. President Donald Trump's tariff policies, which currently impose a 15 percent levy on vehicles imported from South Korea. The company shipped about 84 percent of its production to the United States last year, making it heavily exposed to trade friction between Washington and Seoul. Executives sought to emphasize the strategic value of Korean operations. Sport utility vehicles manufactured in South Korea captured 36.7 percent of the U.S. small SUV market in October and accounted for 11.8 percent of GM's total American sales, the company said. Half of U.S. buyers who purchased the Chevrolet Trax Crossover were new GM customers, pointing to the brand's ability to attract fresh clientele. "Over the past two decades, GM has produced 13.3 million vehicles in Korea and sold 2.5 million in the domestic market, establishing GM Korea as a key part of the nation’s automotive industry," Hector Villarreal, CEO of GM Korea, said at the conference. "Moving forward, we will strengthen our full-cycle capabilities in Korea from vehicle design and engineering to manufacturing and sales, while expanding our product portfolio of next-generation ICE vehicles and EVs, introducing advanced driving technologies for Korean customers, and growing together with the Korean market." The automaker also signaled renewed focus on the domestic market, where sales have cratered. GM Korea sold 13,952 vehicles in the country between January and November, a 39.4 percent plunge from a year earlier. Monthly sales dipped below 1,000 units in November. To revive its fortunes, the company plans to roll out three GMC models and one Buick vehicle next year, making South Korea the first market outside North America to carry all four GM brands. Still, experts remain cautious. Sustained U.S. tariffs and tepid domestic demand could reignite exit speculation if conditions fail to improve. GM Korea said in May it would sell nine company-owned service centers nationwide and some facilities at its Bupyeong plant in Incheon, shifting to a partner-operated service network from next year. 2025-12-15 15:09:37 -
South Korea, US conduct joint anti-terror drill in Seoul SEOUL, December 15 (AJP) - A joint drill between South Korea and the U.S. is underway in Seoul, the Ministry of Foreign Affairs said on Monday. The two-day drill, dubbed "Winter Tiger," which runs Tuesday, is aimed at responding to nuclear and radiological terrorism, involving about 120 officials from both countries. Participants are simulating a radiological terror attack to evaluate emergency response capabilities and cooperation strategies between the two countries. The annual drill, co-hosted with the U.S. Departments of War and Energy, has been held since 2017. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 15:03:16 -
SK On expands at home with big bet on LFP amid uncertainty in global battery market SEOUL, December 15 (AJP) - SK On is building a 3-gigawatt-hour lithium iron phosphate (LFP) facility at its Seosan complex in what would become the largest pure-play energy storage system (ESS) production site in Korea, a bold scale-up aimed at catching up with larger domestic rivals seeking to capitalize on power demand driven by AI investment. The facility, designed to roll out ESS capacity sufficient to power 40 to 50 large-scale data centers annually, will mark SK On's first domestic LFP production base, following what industry sources described as a decisive loss to Samsung SDI in the first round of government ESS tenders. In ESS tenders across five provinces awarded by the Ministry of Climate, Energy and Environment in July, Samsung SDI captured nearly 80 percent of total volume, largely due to its existing domestic infrastructure. SK On plans to convert battery production lines originally designated for electric vehicle nickel-cobalt-manganese (NCM) cells at the Seosan plant into ESS-dedicated LFP facilities. "We plan to go after the government's second ESS tender, a 3.3 GWh procurement round scheduled for 2027 delivery," an SK On spokesperson said. The ministry aims to install 138 GWh of ESS capacity nationwide by 2038 to support the expansion of solar and wind power generation, representing a cumulative project pipeline valued at 20 trillion to 30 trillion won ($13.5 billion to $20.3 billion). The capital expenditure around Seosan, however, extends beyond domestic tenders. SK On plans to use the site as a "mother factory" — a research and development hub where new ESS products and manufacturing processes are refined before being replicated at overseas plants. The tightly integrated local battery supply chain, in which cell makers and component suppliers operate in close proximity, is seen as a competitive advantage for this strategy. SK On's aggressive LFP push is unlikely to immediately alter the plans of larger local rivals, which have already crowded into the ESS segment as the electric vehicle market stagnates. LG Energy Solution last month said it would establish a 1 GWh ESS production line at its Ochang plant, previously the largest ESS project of its kind in Korea before SK On's announcement. Samsung SDI, meanwhile, faces a strategic dilemma. Its NCM batteries carry higher production costs than LFP cells, which are about 30 percent cheaper and better suited to the temperature extremes and long charge-discharge cycles typical of grid-scale storage. As rivals expand domestic LFP capacity, Samsung's early advantage — rooted in local manufacturing scale — could erode unless it pivots. The domestic competition is unfolding against a backdrop of intensifying global pressure. Chinese manufacturers CATL, Hithium and EVE Energy dominate the global ESS market, leveraging low-cost LFP production at scale. Korean battery makers account for roughly 24 percent of the global EV battery market, but less than 10 percent of the ESS segment as of mid-2025. Still, the structural outlook favors grid storage. Battery Council International projects the global ESS market will expand nearly sixfold, from 200 GWh in 2025 to 1,200 GWh by 2030, noting that a single large data center can require as much as 1 gigawatt of power to operate. Compared with the stagnant EV market — highlighted by SK On's split with Ford after sluggish EV sales weighed on their joint venture — demand driven by AI data centers and renewable energy infrastructure is emerging as a more durable growth engine. Samsung SDI and LG Energy Solution are not expected to significantly ramp up domestic LFP capacity to match the latecomer. "Samsung and LG are far more experienced ESS suppliers than SK On, leaving SK relatively dwarfed in domestic competition, as seen in the last government bidding," said Chang Jung-hoon, a senior analyst at Samsung Securities, speaking to AJP. "SK On's investment should be viewed from a different angle — as a cost-effective approach to securing a foothold in the domestic market." Chang added that Samsung won most of its recent contracts using NCM batteries rather than LFP cells. "It was the broader battery ecosystem that secured contracts for Samsung and LG. They have far less incentive to expand LFP production in Korea," he said. While challenges abroad persist, particularly in the United States, industry observers expect domestic rivalry to intensify. All three Korean battery makers increasingly view ESS as a critical earnings pillar as the global EV market remains mired in uncertainty. 2025-12-15 14:51:54 -
South Korea's SeAH secures long-term aluminum supply deal with Boeing SEOUL, December 15 (AJP) - SeAH Aerospace & Defense Materials, a unit of SeAH Besteel Holdings, said on Monday it has signed a long-term supply agreement with Boeing to provide high-strength aluminum alloy materials for commercial aircraft. Under the deal, SeAH Aerospace will begin supplying aluminum alloys used in aircraft fuselages and wings to the world’s largest aircraft manufacturer from 2026, the company said. Financial terms were not disclosed. The agreement follows a direct contract signed with Boeing last year, under which SeAH Aerospace demonstrated its quality competitiveness and ability to deliver consistently to the aerospace industry’s stringent standards. High-strength aluminum alloys used in aircraft structural components require strict process control and quality stability across the entire production chain, from raw material intake and extrusion to heat treatment, machining and inspection. SeAH Aerospace said its global-standard quality management system and material traceability capabilities met Boeing’s rigorous certification requirements. The long-term contract also secures initial production volumes for a new 2,300-ton aluminum plant currently under construction in Changnyeong County, which is scheduled to begin full-scale operations in 2027. The facility is expected to support stable operations and improve cost competitiveness. SeAH continues to expand its high value-added materials portfolio focused on the aerospace and defense sectors. The company already supplies materials to major global aircraft manufacturers, including Airbus Defense and Space, China’s COMAC, Brazil’s Embraer and Canada’s Bombardier. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-15 14:50:59 -
Vehicle-free weekends along Cheonggyecheon Stream to resume after six-month pause SEOUL, December 15 (AJP) - Vehicles will again be banned along the Cheonggyecheon Stream on weekends and public holidays starting on New Year's Day, the Seoul Metropolitan Government said on Monday. The traffic restriction, first implemented in 2005 to improve the walking environment and convenience for pedestrians, will resume after being suspended in July for about six months due to local merchants' complaints about reduced sales. A roughly 450-meter stretch will be closed to vehicles from 2 p.m. Saturday to 10 p.m. Sunday, and from 10 a.m. to 10 p.m. on public holidays. However, it remains uncertain whether the measure will be kept in place over the long term, as the city government will conduct further analysis after gathering expert opinions as well as feedback from citizens. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 14:27:52