Journalist

Lee Hugh
  • PHOTOS: Cold snap delivers early winter in South Korea
    PHOTOS: Cold snap delivers early winter in South Korea SEOUL, November 19 (AJP) - South Korea experienced an abrupt onset of winter conditions this week, as temperatures across the nation plunged sharply, bringing unseasonably early snowfall to major mountain ranges. Jeju Island's Mt. Halla and the mainland's Mt. Jiri were blanketed in white, creating picturesque, albeit premature, winter landscapes. Despite only being mid-November, the intense cold snap evoked scenes typical of deep winter. Citizens on city streets were observed heavily bundled up, donning thick padding jackets and scarves as protection against the severe chill. 2025-11-19 17:15:45
  • Samsung takes laid-back stance in HBM catchup with SK hynix on DRAM strengthening
    Samsung takes laid-back stance in HBM catchup with SK hynix on DRAM strengthening SEOUL, November 19 (AJP) - South Korea’s two dominant memory names Samsung Electronics and SK hynix are showing signs of divergence and avoiding a head-on clash in the red-hot high bandwidth memory (HBM) market, with strengthening DRAM prices reducing the pressure to take risks. Samsung Electronics, a long-time frontrunner in DRAM until the rise of HBM powering AI chips, appears to be in no hurry to ramp up its lagging HBM capacity, holding output at 150,000 wafers per month from late 2025 to 2026 after identifying that margins in high-end DRAM are increasingly outpacing those of HBM. DRAM prices have been rising rapidly due to low yields, with chipmakers devoting most of their wafer space to HBM. “High-value DRAM profitability is now surpassing HBM, which reduces Samsung’s incentive to aggressively expand HBM capacity,” said Cha Yong-ho, analyst at LS Securities, adding that Samsung is positioning itself to “maximize profitability during the P-cycle (price strengthening cycle) rather than chase volume.” Samsung Electronics declined to confirm or deny. “We will ready capacity to readily address market changes as we expect mid- to long-term rise in demand," said a company official. The company has recently given a go-ahead to the structure work on Pyeongtaek Campus Plant 5, a project previously delayed due to unfavorable market conditions. The new line, dedicated to HBM production, is expected to become operational from 2028. The company official, however, disagreed to the reference of advanced chipmaking restricted to HBM these days. “High-value products refer to not only HBM, but also high-spec and high-capacity DRAM such as graphics DRAM. You can view our strategy in that broader context.” The company is prioritizing premium DRAM and next-generation HBM4 while continuing to build out its P4 and P5 fabs in Pyeongtaek using a flexible “first-shell” approach. SK hynix, enjoying its first-ever market dominance and hot earnings streak, meanwhile has all hands on deck in HBM, upping output from 150,000 to 200,000 wafers per month in 2026 upon increased orders from Nvidia. With HBM in structural shortage and Nvidia relying heavily on SK hynix for its AI accelerators, the company has little room to share capacity with general DRAM even as prices climb. SK hynix remains focused, regardless of the decisive strengthening in DRAM prices. "DRAM prices rose because suppliers focusing on HBM shifted wafer capacity to HBM, creating supply-side shortages. It’s more of a market phenomenon than a reason for us to adjust strategy. Our priority remains HBM," a company official said. HBM has already transformed SK hynix’s earnings structure: although it accounts for only 14% of DRAM shipments, it represents 44% of DRAM revenue and more than half of operating profit, driven by unit prices nearly five times higher than DDR5. Most of its HBM supply for 2025 is sold out, with 2026 volumes largely pre-committed. Reflecting the strength of the HBM cycle, the SK hynix official confirmed that “our HBM capacity for 2026 is already sold out.” This divergence reflects the broader transition into a P-cycle, where memory makers benefit more from higher selling prices than expanding output. Monthly HBM demand is expected to surpass one million wafers in 2026, while global supply remains around 400,000 wafers, reinforcing an extended period of tightness. DDR5 contract prices have already risen 165% from the start of 2025, underscoring how performance-oriented AI demand is reshaping the market. A key variable for the next investment cycle is China’s CXMT, whose expansion remains capped at 280,000 to 300,000 wafers per month through 2026 due to U.S. export controls restricting access to advanced DRAM equipment. Beijing’s third semiconductor investment fund is prioritizing equipment localization, raising expectations that CXMT may resume aggressive expansion in 2027 if domestic tools stabilize. Any such shift would force Samsung and SK hynix to restart large-scale capex to defend global market share, reviving Korea’s materials, parts and equipment suppliers. For now, the market is defined by divergence rather than direct rivalry: Samsung leaning into high-performance DRAM profitability during the P-cycle, and SK hynix fortifying its lead in HBM as AI infrastructure investment accelerates. 2025-11-19 17:01:20
  • Alcoholic beverages to carry bigger warning labels
    Alcoholic beverages to carry bigger warning labels SEOUL, November 19 (AJP) - Warning labels on alcohol bottles are getting bigger, bolder, and harder to ignore, the Ministry of Health and Welfare said on Wednesday. The measure, set to take effect as early as September next year, is part of efforts to raise awareness of health risks and dangers associated with drinking. The ministry believes bigger cautionary labels will help consumers take the warnings more seriously when purchasing alcoholic beverages. The background color of these labels is also required to contrast with the surrounding packaging to ensure they are clearly visible. A similar measure will also take effect in March next year under recently revised guidelines, mandating that these labels, which currently warn against excessive drinking and alcohol consumption during pregnancy, carry additional warnings about drunk driving. The ministry will gather feedback and public opinions by mid-January to reflect these changes before implementation. 2025-11-19 16:37:49
  • South Koreas HD Hyundai celebrates 5,000th ship delivery
    South Korea's HD Hyundai celebrates 5,000th ship delivery SEOUL, November 19 (AJP) - South Korea’s HD Hyundai has become the world's first shipbuilder in the world to deliver 5,000 vessels. The company commemorated the achievement with a ceremony at its flagship shipyard in Ulsan. HD Hyundai delivered its first vessel — the Atlantic Baron, a 260,000-ton very large crude carrier — in 1974. In the five decades since, it has supplied ships to more than 700 customers across 68 countries. The 5,000th vessel, the Diego Silang, is a 118.4-meter patrol ship built for the Philippine Navy. The vessel, 14.9 meters wide, was completed in March and handed over in October. HD Hyundai Chairman Chung Ki-sun attended the ceremony alongside lawmakers Kim Tae-sun and Yoon Jong-oh, as well as senior figures from the shipbuilding sector. Of the 5,000 vessels delivered to date, 2,631 were constructed at HD Hyundai Heavy Industries, 1,570 at HD Hyundai Mipo Dockyard and 799 at HD Hyundai Samho Heavy Industries. The company noted that if all the ships it has built were placed end to end, their combined length would stretch farther than the distance between Seoul and Tokyo. “Delivering 5,000 ships is a testament to South Korea’s shipbuilding prowess and a transformative moment for the global maritime industry,” Chung said. “We aim to build the next 5,000 ships over the coming decades.” * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-19 15:48:20
  • South Koreas first submarine sets sail on final voyage
    South Korea's first submarine sets sail on final voyage SEOUL, November 19 (AJP) - South Korea's first submarine Jang Bogo embarked on its final voyage on Wednesday, ahead of its retirement later this year. The 1,200-ton vessel, named after a legendary captain and maritime trader from the ancient kingdom of Silla, will retire at the end of this year, concluding its 34-year mission to protect the country's maritime sovereignty. The submarine set off from a naval base in Jinhae for the two-hour farewell cruise with its first captain Ahn Byung-gu, and other crew members on board, returning to the base to the salute of whistles from fellow submarines. Built in Germany in 1988 and officially commissioned in 1993, the submarine has sailed over 342,000 miles during its service. The vessel participated in major international maritime exercises including the Rim of the Pacific Exercise (RIMPAC) and Silent Shark, a biennial drill conducted by South Korea and the U.S. Since last year, the submarine has been used primarily for training crew members. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-19 14:59:32
  • Indias Mukesh Ambani to visit Korea for meeting with Lee Jae-yong
    India's Mukesh Ambani to visit Korea for meeting with Lee Jae-yong SEOUL, November 19 (AJP) - Mukesh Ambani, chairman of India’s Reliance Group known as Asia’s wealthiest individual, is scheduled to visit South Korea next week for discussions on artificial intelligence and next-generation communications technology with Samsung Electronics Chairman Lee Jae-yong. Industry sources said Ambani will arrive on Nov. 25 for a two-day visit accompanied by his son, Akash Ambani, chairman of Reliance Jio Infocomm. The trip will include a tour of Samsung’s Suwon complex and a dinner meeting with Lee. The two sides are expected to explore deeper cooperation in AI data centers and the development of 6G technologies, areas where both companies have been accelerating investment. Reliance Group has diversified businesses spanning telecommunications, petrochemicals, steel, finance and retail. Ambani’s personal wealth is estimated at about $80 billion, securing his position as Asia’s richest individual. Reliance Jio, India’s largest mobile operator, is rolling out a nationwide 5G network while advancing early 6G research and expanding its AI infrastructure — moves that have fueled expectations of closer collaboration with Samsung. Lee, who has stepped up engagement with global tech leaders including Nvidia, Tesla and Meta, is seen as eager to strengthen Samsung’s AI and telecom footprint in India through its ties with Reliance. The Samsung chief has maintained close personal relations with the Ambani family and was the only South Korean business leader invited to the weddings of Ambani’s children, including the youngest son’s ceremony last year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-19 14:39:09
  • South Koreas external debt rises to $738 billion, but stability indicators improve
    South Korea's external debt rises to $738 billion, but stability indicators improve SEOUL, November 19 (AJP) - South Korea’s external debt climbed to more than $738 billion in the third quarter, though government officials said the country’s overall financial position strengthened as short-term liabilities declined and long-term debt expanded. The Ministry of Economy and Finance said Wednesday that external debt reached $738.1 billion at the end of the July–September period, an increase of $2.5 billion from the previous quarter. The rise was largely driven by net purchases of Korean bonds by foreign investors, who injected 3.2 trillion won into listed bonds during the quarter, including 3 trillion won in July alone. Short-term debt — often viewed as more vulnerable to market volatility — fell by $5.4 billion to $161.6 billion. Long-term debt rose by $7.9 billion to $576.5 billion, offsetting the decline and contributing to the overall uptick. Borrowing by non-bank entities, including public institutions and private companies, increased by $9 billion, while the government, central bank and commercial banks reduced their external liabilities by $3.2 billion, $1.2 billion and $2.1 billion, respectively. South Korea’s external assets also expanded, rising by $27.1 billion to $1.1199 trillion on the back of strong overseas bond investments and higher foreign currency deposits. As a result, net external assets — the difference between what the country owns abroad and what it owes — increased to $381.8 billion. Key indicators of financial stability improved as well. The share of short-term debt in total external debt declined to 21.9 percent, below the three-year average of 23.8 percent. The ratio of short-term debt to foreign reserves fell to 38.3 percent from 40.7 percent, suggesting greater resilience against potential foreign exchange shocks. Meanwhile, the foreign currency liquidity coverage ratio of domestic banks stood at 160.4 percent at the end of the quarter, far exceeding the regulatory minimum of 80 percent. “Despite uncertainties in global trade and shifts in monetary policy, we will continue to safeguard the stability of our economy,” an official at the Ministry of Economy and Finance said. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-19 14:13:45
  • Materialist-style exclusive matchmaking flourishes among Gangnams upper class
    "Materialist"-style exclusive matchmaking flourishes among Gangnam's upper class SEOUL, November 19 (AJP) - In the American film "Materialist", New York–based matchmaker Lucy (Dakota Johnson) explains the formula behind a “quality” match that leads to a stable marriage: “similar upbringings, similar levels of education, similar family structures, similar incomes.” That bourgeois logic is now driving a quiet boom in exclusive matchmaking services in Seoul’s wealthiest districts, particularly in Gangnam, where housing prices rank among the world’s highest and social circles grow increasingly stratified. Inside Helio City, a massive complex of 35-story towers in Garak-dong, Songpa District, a two-person matchmaking outfit is suddenly drawing attention. The average three-bedroom apartment here sells for around $2 million. Opened in June, the small business — Helio Marriage Information — has attracted more than 200 members from the seven-year-old residential community of roughly 9,500 households. “Everyone here has good jobs,” said the agency’s CEO. “Most are in their 30s and 40s — doctors, lawyers, many professors. These are people with high standards who don’t want to meet just anyone, which is why they come to us.” The agency remains relatively low-profile, but parents with marriage-age children are already expressing strong interest. “I have a daughter,” said a resident in her 50s. “It’s comforting to meet someone from the same community. This is a well-off area. People have similar backgrounds. There aren’t many introduction services like this.” A woman in her 60s added, “What I like is the sense of trust. As a parent, it’s hard to really know who your child might marry.” Still, not everyone is pleased. “Not everyone here is rich,” said a man in his 50s. “Many live on jeonse or in rental units. Big differences in background can cause friction. I worry it will create invisible rankings within the same complex.” The model of tightly curated matchmaking began earlier at One Bailey, one of Seoul’s most expensive apartment complexes overlooking the Han River in Banpo-dong, Seocho District. As soon as residents began moving in during late 2023, a new platform called One Bailey Nobility appeared. The response was “explosive.” With average units priced around $4 million, many households had marriage-eligible adult children, and demand for highly vetted introductions surged. Now formalized as One Bailey Marriage Club, the organization is recruiting its sixth cohort, with membership ranging from ages 14 to 89 — underscoring how deeply family background, lineage, and long-term vetting matter within wealthy circles. “Exclusivity is guaranteed,” said a 28-year-old member who requested anonymity. “You don’t join just by owning a home here. You need parental approval and must attend meetings with a guardian. It’s strict, but that’s what makes it trustworthy.” She said enthusiasm grew after the club celebrated its 11th engaged couple — both doctors. Membership reportedly costs 200,000 won ($136) to join and 300,000 won ($204) annually. Building on its success, the initiative has expanded to nearby luxury complexes including Raemian Prestige and Acro. What is unfolding in Gangnam echoes the ethos of "Materialist" — a desire to match not just individuals, but entire family profiles. For some, it offers reassurance and cultural compatibility. For others, it signals a sharpening of class boundaries inside Seoul’s most coveted neighborhoods. 2025-11-19 14:05:40
  • Two more dead, bringing death toll to four in truck crash in Bucheon
    Two more dead, bringing death toll to four in truck crash in Bucheon SEOUL, November 19 (AJP) - Two more people have died from a deadly crash at an open-air market in Bucheon, Gyeonggi Province last week, bringing the death toll to four. According to police on Wednesday, a man in his 20s and a woman in her 80s, who were seriously injured last Thursday when a pickup truck plowed through the market, died earlier this week. Two women in their 60s and 70s died at the scene, and a number of injured people have since been receiving treatment. The driver, a fish vendor in his 60s at the market, allegedly confused the accelerator with the brake, causing the truck to crash into stalls and shoppers. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-19 14:02:06
  • Global defense officials attend KOTRA forum to explore Korean weapon systems
    Global defense officials attend KOTRA forum to explore Korean weapon systems SEOUL, November 19 (AJP) - The Korea Trade-Investment Promotion Agency (KOTRA) on Wednesday hosted a defense export networking event with the Seoul Association of Military Attachés (SAMA), bringing together foreign defense officials and South Korean defense companies in an effort to expand global partnerships. The gathering drew 110 participants, including 35 military attachés from 30 countries — including Chile, India, Poland and Canada — as well as representatives from 44 South Korean defense firms. Organizers said the event was designed to deepen understanding of emerging Korean defense technologies and explore opportunities for cooperation. South Korean companies presented a range of advanced systems, including unmanned ground and aerial vehicles, next-generation low-earth-orbit satellite technologies, avionics, drone and counter-drone platforms, and multifunctional surveillance equipment. For small and medium-sized firms, the event offered a rare chance to directly engage with foreign attachés and pitch their technologies to potential buyers. Jang Seong-gil, head of KOTRA’s Defense Trade Support Center, said he hoped South Korea’s defense capabilities would contribute to global security efforts. “We aim to position Korea as a trusted partner for peace and prosperity,” he said. India’s defense attaché and SAMA chairman, Ashish Gerola, said South Korean weapons systems were increasingly recognized for their quality. He expressed confidence that the networking event would lead to deeper defense cooperation. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-19 14:01:11