Journalist
Lee Hugh
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HD Hyundai Chairman Chung Ki-sun visits Philippines to expand economic cooperation Chung Ki-sun, chairman of HD Hyundai, visited the Philippines as part of a South Korean government economic delegation, seeking to deepen ties and expand economic cooperation between the two countries, the company said March 5. HD Hyundai said Chung paid tribute at a Korean War memorial, attended a Korea-Philippines business forum and inspected HD Hyundai Philippines Shipbuilding (HD Hyundai Philippines). On March 4, Chung visited the Korean War memorial at the National Heroes Cemetery in Manila and laid flowers. The Philippines was the first Asian country to organize a combat unit for the war and deployed the largest contingent, sending 7,420 troops, the company said. Earlier that morning, Chung attended the Korea-Philippines Business Forum, co-hosted by the Federation of Korean Industries and the Philippine Chamber of Commerce and Industry, where participants discussed detailed steps to expand bilateral economic cooperation. On March 5, Chung visited HD Hyundai Philippines in Subic Bay, touring a construction site for a new employee dormitory and the yard, and encouraging staff working there. Over lunch with local employees, he said, "I will take even more special care in areas such as housing, medical services and public safety so employees have no inconvenience," and added, "Above all, I ask that you put safety first and do your best in the work you have been entrusted with." HD Hyundai has continued business cooperation with the Philippines. HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai's shipbuilding business, signed a lease in May 2024 with U.S.-based Cerberus Capital for part of a Philippine shipyard site and launched HD Hyundai Philippines. In September last year, HD Hyundai Philippines held a steel-cutting ceremony to begin building its first vessel, a 115,000-ton petrochemical product carrier. HD Hyundai Heavy Industries has won orders for a total of 12 naval vessels from the Philippines since 2016, the company said. In 2022, it established a local logistics support center and has been providing maintenance, repair and overhaul services for delivered ships, including frigates and patrol vessels. Chung said, "Beyond a simple business partnership with the Philippines, we have been serving as a key bridge to strengthen friendship between the Republic of Korea and the Philippines," adding, "We will continue to build deep trust with the Philippines with pride in representing Korea."* This article has been translated by AI. 2026-03-05 11:48:20 -
Seoul issues strong verbal intervention after two-day rout, markets rebound SEOUL, March 05 (AJP) -Seoul authorities issued a strong verbal intervention to calm markets Thursday, signaling readiness to deploy large-scale liquidity if needed after the country’s stock market suffered its steepest two-day rout on record following the outbreak of war in the Middle East. Officials reassured investors that Seoul stands ready to tap a 100 trillion won ($75 billion) market stabilization program should financial volatility intensify, as the benchmark KOSPI plunged more than 20 percent in two sessions, rattled by soaring oil prices and geopolitical risks stemming from U.S.-Israeli strikes on Iran. President Lee Jae Myung urged financial authorities to swiftly execute the stabilization package if needed during an emergency Cabinet meeting in Seoul. “The crisis in the Middle East is worsening the global economic and security environment,” Lee said. “I ask that the 100 trillion won market stabilization program prepared to preempt instability in funding markets be executed and managed promptly and appropriately.” Lee instructed ministries to draw up contingency plans and actively respond to heightened volatility in financial markets, including equities and foreign exchange. Financial Services Commission Chairman Lee Eok-won said regulators have already convened multiple financial market monitoring meetings and reiterated that authorities are prepared to operate the stabilization program “at full readiness.” “We have delivered preemptive stabilization messages to the market and will actively operate a market stabilization program worth 100 trillion won plus additional measures if needed,” he said. “Given the high level of uncertainty, we will maintain maximum vigilance to stabilize financial markets and minimize spillover effects on the real economy.” Separately, the Financial Supervisory Service (FSS) held an emergency meeting with market experts to assess the recent spike in volatility and review the outlook for domestic equities. Participants — including strategists from global investment banks, brokerage research heads and analysts from the Korea Capital Market Institute — said the latest market swings were driven largely by geopolitical risks from the Middle East crisis and short-term profit-taking after the market’s strong rally earlier this year. Despite the sharp correction, experts broadly agreed that the underlying fundamentals of South Korea’s equity market remain intact and that the shock could prove temporary. They noted that corporate earnings remain solid and the government’s push for shareholder-friendly policies has strengthened market conditions in recent months, suggesting that excessive declines could form meaningful support levels. Before the Middle East conflict erupted, analysts had been steadily revising upward their 2026 KOSPI forecasts, citing improving corporate profitability and structural reforms in the capital market. FSS Senior Deputy Governor Hwang Sun-oh said regulators are reviewing a range of contingency measures and stand ready to implement phased responses under emergency stabilization plans if necessary. “We are closely examining various response options with the highest level of vigilance,” Hwang said. Authorities also warned that they would take a zero-tolerance approach to misinformation and market manipulation during the period of heightened volatility. “Criminal acts such as the distribution of fake news or price manipulation that exploit public anxiety must be thoroughly blocked,” President Lee said. “Those attempting to profit by causing confusion in the national economy will be held strictly accountable.” The stock and currency market sharply rebounded Thursday. The KOSPI is up 10 percent and KOSDAQ 12.6 percent higher as of 11:30 a.m.. The dollar is quoted at 1,463.80, down from Wednesday close of 1,476.6. 2026-03-05 11:33:41 -
WAIFF D-1: Live human-machine symphony to open Seoul artificial intelligence film festival SEOUL, March 05 (AJP) - The World AI Film Festival Seoul 2026 will open Friday with a live performance blending human artists and machine generation, signaling a shift in how the entertainment industry approaches artificial intelligence. Kicking off on March 6 at Lotte Concert Hall in southern Seoul, the two-day event begins with a special performance titled "The Symphony of AI & Human." Organizers programmed the opening ceremony to move away from traditional film festival screenings, opting instead to showcase real-time artistic collaboration between generative systems and live performers. The central competition operates under strict technological mandates that function as a creative hurdle. To qualify, creators of the 25 competing films were required to integrate at least three distinct artificial intelligence tools, including one mandatory image-generative system, into their production pipelines. The submissions span six categories, ranging from traditional short films to micro-series designed for vertical mobile screens and commercials for fictional products. Competitors are vying for a share of a 27 million won prize pool and an official invitation to screen their work at the festival's grand finale in France this April. Son Seung-hyun, chief executive officer at visual effects studio Westworld, leads an 11-member jury evaluating the entries. The Seoul event aims to demonstrate that artificial intelligence has evolved past post-production experimentation and is now shaping the core narrative and visual structures of modern media. The festival's opening ceremony on March 6 is free to the public, while the subsequent Creative Intelligence Forum on March 7 at Lotte Cinema World Tower requires a paid ticket. The global circuit will continue with upcoming stops in Japan and China following the South Korea edition. 2026-03-05 11:14:46 -
Korea hopes to win full fleet of Canadian submarines - industry minister SEOUL, March 05 (AJP) -South Korea will push to win the full order of Canada’s next-generation submarine fleet rather than settle for a split contract with a European rival, Industry Minister Kim Jung-kwan said Thursday, as Ottawa is said to be weighting the option of dividing one of its largest-ever defense awards. Speaking to reporters at Incheon International Airport before departing for Canada, Kim said Seoul is working “with everything it has” to secure the entire fleet of 12 diesel-electric submarines under Canada’s Canadian Patrol Submarine Project (CPSP). “Without prejudging whether things are going well or not, we are doing everything we can,” Kim said. “Twelve is a symbolic number for us.” Kim cited the famous line from Joseon naval commander Admiral Yi Sun-sin — “I still have 12 ships” — a rallying cry during the 16th-century Japanese invasions of Korea, adding that South Korea would strive to achieve a similar “12-ship miracle” in the Canadian submarine competition. His comments come as Canadian media reported that the government of Prime Minister Mark Carney is considering splitting the multibillion-dollar contract between the two finalists — buying six submarines each from South Korea’s Hanwha Ocean consortium and Germany’s ThyssenKrupp Marine Systems (TKMS). The CPSP aims to acquire up to 12 diesel-electric submarines to replace Canada’s aging Victoria-class fleet, which is expected to retire by the mid-2030s. Under the reported split scenario, Germany’s Type-212CD submarines would patrol the Atlantic, while South Korea’s KSS-III Batch-II submarines would be deployed on the Pacific coast and potentially in the Indo-Pacific region. Defense experts have warned that operating two different submarine classes could complicate supply chains, training and maintenance. Carney himself previously expressed skepticism about a mixed fleet, saying a single-class fleet offers “overwhelming” efficiency advantages. Still, Ottawa is also weighing the broader economic benefits of the procurement as it seeks to diversify trade ties with Europe and Asia amid rising economic friction with the United States. Both bidders have emphasized industrial cooperation and job creation in Canada. Hanwha has projected that its proposal could generate roughly 25,000 Canadian jobs annually between 2026 and 2044, while TKMS has signaled it could build some submarines in Canada. Kim said the scale of industrial cooperation would inevitably differ depending on whether Seoul wins all 12 submarines or only part of the order. “The scale of cooperation will naturally differ between 12 and six submarines,” he said. “Ultimately, it depends entirely on the decision of the Canadian government.” Kim is visiting Windsor, Ontario, for the completion ceremony of an LG Energy Solution battery plant and plans to meet Canadian officials, including Industry Minister Mélanie Joly, to promote South Korea’s shipbuilding capabilities and industrial partnership proposals. Canada’s government is expected to review the final bids submitted this week before making a decision as early as June, with the contract targeted to be awarded before the end of the year. 2026-03-05 11:13:02 -
Tesla leads South Korea's imported-car market SEOUL, March 5 (AJP) - U.S. electric vehicle maker Tesla claimed the top spot in South Korea's imported-car market last month, boosted by brisk sales of its revamped Model Y, the Korea Automobile Importers & Distributors Association said on Thursday. Some 27,190 imported vehicles were newly registered last month, up 29.7 percent from 20,960 units the previous month and 34.6 percent higher than a year earlier. The cumulative number of registrations for the first two months of this year stood at 48,150 units, up 35.9 percent from 35,428 during the same period last year. By make, Tesla ranked No. 1 with 7,868 registrations, followed by BMW with 6,313 and Mercedes-Benz with 5,322. Next were Lexus with 1,113, Volvo with 1,095, Audi with 991, BYD with 957, and Toyota with 793. Over the past month, 7,000 units of Tesla's Model Y were sold, with 1,740 of them being the Long Range version. By type of fuel, hybrids accounted for 50.5 percent of registrations, followed by electric, gasoline, and diesel vehicles. European imports made up most of the registrations with 16,107 units (59.2 percent), followed by American (30.1 percent), Japanese (7.1 percent), and Chinese (3.5 percent) vehicles. 2026-03-05 10:53:14 -
Internet Press Ethics Panel Launches Fair Election Coverage Support Ahead of June 3 Local Vote The Internet Newspaper Ethics Commission and the Internet Election News Deliberation Commission said Thursday they will jointly launch the “2026 9th Nationwide Local Elections Fair Election Coverage Support Project” to help online news outlets provide fair and responsible coverage ahead of the June 3 vote. Marking 90 days before election day, the two bodies began distributing the first installment of a “Fair Election Coverage Practice Guide,” providing training on fair election reporting for employees of outlets that have pledged to participate in the ethics panel, and opening a special online bulletin board for election-coverage consultations. With more reporting expected on opinion polls, allegations and quoted claims during the campaign, the project aims to build a prevention-focused support system that can be used in newsrooms. It will center on standards for publishing election poll results and precautions in reporting, practical guidance for election newsgathering and writing, and considerations for coverage involving deepfakes and AI tools. The two organizations plan to jointly distribute the guide four times, timed to D-90, D-60, D-40 and D-20. The ethics commission will produce and distribute practice-oriented materials by adding examples from actual deliberation decisions, while the election news deliberation commission will provide standards-focused content, including revised review rules, major types of violations and time-specific precautions. Also Thursday, the ethics commission will hold an online video lecture for employees of participating outlets. The session will cover standards for reporting election polls, practical election reporting and major deliberation cases, focusing on points journalists should watch for in the reporting process. To respond quickly to newsroom-level questions that arise during election coverage, the ethics commission opened a “Fair Election Coverage Consultation” bulletin board on its website, which the two bodies will jointly operate through election day. The two organizations have continued joint efforts to foster a fair election reporting environment for online media since signing a cooperation agreement in 2018. The ethics commission said it has used accumulated deliberation cases and operating experience as the only self-regulatory body for internet newspapers to help check and prevent potential fairness and objectivity issues in election coverage. They said they plan to strengthen cooperation through the joint project to raise the voluntary accountability of online media and help establish a culture of fair election reporting.* This article has been translated by AI. 2026-03-05 10:36:17 -
Peugeot Launches All-New 5008 Smart Hybrid Test-Drive Events Across South Korea Peugeot said Wednesday it will hold test-drive events at 13 showrooms nationwide to mark the launch of the all-new 5008 Smart Hybrid. The event runs for 17 days starting March 6 and is designed as a participatory program for showroom visitors and their companions, the company said. Peugeot will also run a guaranteed-win promotion to celebrate the all-new 3008 Smart Hybrid winning two awards in the 2026 Design category. Test-drive participants will receive a scratch card offering prizes including a 29-inch travel suitcase, the “Peugeot Voyage Luggage,” co-produced by Peugeot and French premium luggage brand Delsey, as well as French premium wine and a wine-glass set, coffee coupons and other gifts. Peugeot said it expanded its seven-seat family SUV lineup with last month’s launch of the all-new 5008 Smart Hybrid, building a core lineup that includes the 308, 408, 3008 and 5008. Bang Sil, chief executive of Stellantis Korea, said she hopes the event will give families, couples and friends time to visit showrooms and discover new preferences.* This article has been translated by AI. 2026-03-05 10:27:35 -
LG CNS launches modular AI data center deployable in six months SEOUL, March 05 (AJP) - LG CNS unveiled a container-based AI data center called "AI Box" that can be built in about six months, aiming to capture growing demand for rapid AI infrastructure deployment. The modular system shown Thursday houses up to 576 graphics processing units in a single container with 1.2 megawatts of server power capacity. Traditional data centers typically require about two years to construct, making the shortened timeline a potential advantage for enterprise customers seeking quick expansion of AI computing capabilities. The company said the standardized design allows customers to start with a single container and scale up to hyperscale capacity by combining dozens of units. AI Box integrates technologies from multiple LG Group affiliates, including cooling distribution units and air conditioning systems from LG Electronics and battery systems for uninterruptible power supplies from LG Energy Solution. "AI Box, which provides integrated AI servers, power, cooling and operations, will lead a new paradigm in the data center business," said Cho Heon-hyeock, Datacenter Business Unit Vice President at LG CNS. "We will expand the business to global markets including Southeast Asia and North America based on successful cases in the domestic market." The company plans to deploy its first AI Box at its Busan Global Cloud Data Center site and eventually build a campus of about 50 units on the 27,179-square-meter property to serve domestic AI infrastructure demand. 2026-03-05 10:24:33 -
Hana Bank Launches Revamped Open API Platform, Hana API On Hana Bank said Thursday it has launched Hana API On, a comprehensive revamp of its open API platform, a system that lets outside companies connect to and use banking functions. The bank said the overhaul aims to improve API service quality and strengthen user convenience. Its API services are used more than 56 million times a month on average, it said. Hana API On provides the bank’s key financial services and data in API form, designed to help fintech startups and other companies more easily integrate banking features into their own services. Beyond offering APIs, the platform focuses on usability for development and operations. It also adds a testbed that allows pre-verification under conditions similar to a live environment to improve service stability. The platform’s UI and UX were redesigned to make steps from API search to application, authentication and guide review more intuitive, and it supports mobile web use. For partners, it offers core APIs including: 24-hour real-time exchange rates for 58 currencies; non-login credit loan limit inquiries; and instant account opening through partner platform channels. Hana Bank said the revamp is intended to expand access to financial services and support partner companies in creating new business opportunities. “Hana API On is a platform that connects finance and industry based on openness and connectivity in the digital era,” a Hana Bank official said. “We will continue to expand collaboration with startups and partner companies.” 2026-03-05 10:15:01 -
Tesla Tops South Korea’s Imported-Car Market in February as Model Y Sales Near 7,000 Tesla led South Korea’s imported-car market last month, driven by strong sales of the Model Y. The Korea Automobile Importers & Distributors Association said Thursday that new registrations of imported passenger cars in February rose 34.6% from a year earlier to 27,190. That was up 29.7% from January’s 20,960. Cumulative registrations for January and February totaled 48,150, a 35.9% increase from 35,428 a year earlier. By brand, Tesla ranked first with 7,868 registrations, followed by BMW with 6,313 and Mercedes-Benz with 5,322. Lexus recorded 1,113, Volvo 1,095, Audi 991, BYD 957 and Toyota 793. The Tesla Model Y sold about 7,000 units over the month. The Model Y posted 5,275 registrations and the Model Y Long Range 1,740. Over the same period, the BMW 520 recorded 1,067 registrations. By engine displacement, vehicles under 2,000cc accounted for 9,763 registrations, or 35.9% of the total. Models from 2,000cc to under 3,000cc totaled 5,835 (21.5%), 3,000cc to under 4,000cc 421 (1.5%), and 4,000cc and above 352 (1.3%). Other vehicles, including electric cars, totaled 10,819 (39.8%). By origin, Europe accounted for 16,107 registrations (59.2%), followed by the United States with 8,197 (30.1%), Japan with 1,929 (7.1%) and China with 957 (3.5%). By fuel type, hybrids led with 13,721 registrations (50.5%), followed by electric vehicles with 10,819 (39.8%), gasoline with 2,484 (9.1%) and diesel with 166 (0.6%). 2026-03-05 10:12:21