Journalist

Lee Hugh
  • Two more bodies recovered at Ulsan power plant
    Two more bodies recovered at Ulsan power plant SEOUL, November 12 (AJP) - Two more bodies were recovered overnight from the rubble of a thermal power plant in the southeastern city of Ulsan, bringing the death toll to five after a large structure collapsed last week. According to rescue workers, one victim was found several hours after two large boiler towers at the state-run utility company Korea East-West Power were blown up the previous day to facilitate search operations for workers trapped beneath the debris. Another body was retrieved early Wednesday morning. The aging towers had hampered search operations amid concerns they might also collapse. Of the nine workers at the site when a 60-meter boiler tower suddenly fell during demolition work last Thursday, two were immediately rescued, five are now dead, and two remain missing. 2025-11-12 09:51:04
  • LG Energy Solution moves into aerospace battery market with US partner
    LG Energy Solution moves into aerospace battery market with US partner SEOUL, November 12 (AJP) - LG Energy Solution, one of the world’s leading electric-vehicle battery makers, is pushing into the aerospace sector through a new partnership with an American startup specializing in next-generation energy storage. The South Korean company said Wednesday that it has entered into a strategic collaboration with South 8 Technologies, a San Diego-based firm known for developing liquefied gas electrolytes for lithium-ion batteries. The technology, which maintains performance in temperatures as low as minus 60 degrees Celsius, was named one of Time magazine’s top 200 inventions of 2024. The partnership will focus on developing advanced battery cells capable of operating in the extreme conditions of aerospace applications, LG Energy Solution said. The effort aligns with initiatives by NASA and KULR Technology Group to design low-temperature battery systems for future space missions. KULR, supported by the Texas Space Commission, is working on similar lithium-ion solutions for next-generation exploration programs. LG Energy Solution and South 8 plan to jointly design and produce prototype cells using specialized materials and configurations optimized for use in aerospace environments. The two companies first connected through LG’s Startup Challenge Program in 2019 and signed a joint development agreement in 2024. The latest deal expands their collaboration as LG seeks to diversify beyond its core automotive and energy storage markets. “The liquefied gas electrolyte technology is expected to fundamentally resolve battery performance issues in extreme cold,” said Jay Kim, LG Energy Solution’s chief technology officer. “We aim to create new customer value across multiple industries, including aerospace exploration.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-12 09:38:17
  • K Bank readies third and possibly final KOSPI bid, betting on sustained market rally
    K Bank readies third and possibly final KOSPI bid, betting on sustained market rally SEOUL, November 11 (AJP) - K Bank may become the first company to debut on the KOSPI in 2026 as the country’s pioneering internet-only bank files its third — and likely final — preliminary prospectus, hoping the market’s bullish momentum lasts another two to three months. According to the filing, K Bank plans to offer 60 million shares out of its 405.7 million total. The Korea Exchange’s review normally takes two to three months, putting an early-2026 listing within reach if approval is granted. NH Investment & Securities and Samsung Securities are joint lead managers. The clock is ticking. Under agreements with its financial investors (FIs), K Bank must go public by July 2026. Failure to do so would allow investors to exercise tag-along or put options by October next year, making this effectively its last window to complete the deal. K Bank previously cleared the preliminary review in 2022 but canceled its offering in the face of rapidly rising interest rates and a frozen IPO market. A second attempt in late 2023 was also withdrawn after weak demand during roadshows. The bank has since trimmed its target valuation to 5.3 trillion won ($3.6 billion) from roughly 7 trillion won. Whether the current year-end rally will be enough to support a newcomer remains uncertain. The bank’s repeated last-minute withdrawals have already dented its credibility among investors. Another lingering risk is its deep dependence on deposits sourced from customers of Upbit, the country’s largest cryptocurrency exchange. The two companies recently renewed their real-name account partnership for one more year, through October 2026, after the contract expired last month. The Upbit-linked deposits have been a major growth driver, as K Bank supplies verified accounts to crypto traders. But renewal uncertainty hangs over the bank each time the contract comes due. Meanwhile, the bank’s early-mover advantage has largely faded as traditional lenders now operate fully competitive mobile platforms. Market sentiment toward digital-only banks has also cooled. KakaoBank shares have dropped 44.5 percent from their June 24 peak of 38,750 won to 21,500 won ($14.7) as of Tuesday. Last week, Hana Securities cut its price target for KakaoBank to 32,000 won from 36,000 won, pointing to weaker-than-expected third-quarter earnings and slowing fee income. KakaoBank’s net profit fell 10.3 percent on-year to 111.4 billion won. Hana Securities analyst Choi Jung-wook said sluggish loan growth, a broader decline in net interest margin and disappointing non-interest income weighed on performance, while operating expenses climbed with new service promotions and AI-related hiring. “Despite steady product launches such as its MMF Box and Kids Savings offerings, monetization remains slower than expected,” Choi wrote. As it weighs its KOSPI push, K Bank has also been expanding its offline footprint. Starting in December, Seoul Metro’s Euljiro 4-ga Station — near the bank’s headquarters — will adopt “K Bank Station” as a secondary name under a paid naming-rights deal effective through December 2028. 2025-11-11 17:39:05
  • AI detectors questioned for efficacy while Korean universities wrestle with AI use
    AI detectors questioned for efficacy while Korean universities wrestle with AI use SEOUL, November 11 (AJP) - South Korean universities and companies are increasingly adopting detecting tools to identify AI cheats to prevent foul plays in admissions and evaluations, especially after the large-scale AI-employed test cheating that recently disgraced one of the country’s top elite universities — but many find the services largely lacking. Tools are used randomly and trusted blindly, while most universities have yet to reach any consensus on AI usage for class materials and evaluations. For job seekers, the consequences can be personal and severe. Kim Ye-ji (28), a job applicant in Seoul, said she feared being unfairly screened out after spending nights perfecting her self-introduction essay. “I can’t imagine how frustrating it would be if the AI detector labeled my own writing as machine-written,” she said. “It’s already hard enough to get a few big-company interview chances — losing one that way would feel devastating.” According to a survey by Incruit, 27.5 percent of companies already screen for AI-assisted writing in self-introduction letters, though few verify detection results before disqualifying applicants. Similar tools are now used across college assignments and corporate reports. At the same time, AI-driven cheating is spreading faster than detection technology can keep up. The number of remote and large-scale lectures in major universities has surged since the pandemic, creating blind spots in monitoring. At Yonsei University, the number of large classes with more than 200 students rose from 75 in 2020 to 104 last year, while online courses jumped from 34 in 2023 to 321 this semester, according to public education data. Professors say the rapid rise in online lectures and corporate remote interviews has created an environment ripe for AI misuse — but current detection tools remain inconsistent and poorly integrated into learning systems. “AI detectors can often identify which model — whether GPT, Gemini or Claude — generated the text, since each has distinct patterns,” said Billy Choi, professor at Korea University’s AI Research Institute. “But once a human edits the content, those patterns collapse, and that’s when detection errors occur.” He added that improving such tools is “technically simple but financially demanding,” requiring additional training data and costly fine-tuning by developers. At universities, the debate is shifting from “whether to use AI” to “how to use it meaningfully.” “AI tools are not impossible to ban completely,” said Jin Lee, professor of cultural content studies at Hanyang University. “Instead of policing students for using AI, professors need to rethink how assignments are designed — focusing on how meaning is created through AI use, not just whether it was used.” Lee added that the ethical burden of detecting AI use can no longer fall solely on students. “We can’t 100 percent verify if something was written by AI, and questioning students based on suspicion alone is meaningless,” she said. “The conversation should move toward helping students use AI responsibly while developing their own voices.” Universities such as Yonsei and Korea University have issued internal guidelines urging faculty not to grade students solely based on detector results. Others are exploring hybrid evaluation systems — combining oral defenses, peer review, and in-class writing — to balance technology with fairness. Still, pressure to detect AI-generated content continues to mount as academic-integrity concerns rise worldwide. In the United States and Europe, several institutions have already limited use of detection tools such as ZeroGPT and Turnitin due to accuracy concerns. 2025-11-11 17:35:38
  • Sober reckoning on Koreas college entrance ritual as record number awaits test day
    Sober reckoning on Korea's college entrance ritual as record number awaits test day SEOUL, November 11 (AJP) - It's that time of year again in Korea, as the country prepares to solemnly mark "Suneung" — the once-a-year nationwide college entrance exam — on Thursday, when a record 554,174 test-takers will vie for 2026 admissions, clinging to singular hopes despite an increasingly bleak job market for university graduates. On Suneung Day, Korea enters an extraordinary national ritual. Business hours are delayed to clear roads for anxious applicants; air traffic halts during the English listening section; and churches, temples, and chapels of every faith fill with parents and grandparents praying for a smooth, error-free test. Whether or not a household includes a test-taker, the entire country slips into a collective mode of vigilance and supplication. This year's Suneung is a bumper cycle, driven by the unusually large cohort of students born in 2007 — the lunar-calendar "golden pig" year, believed to bring prosperity and luck. That demographic bulge has swelled the senior class, sending candidate numbers up by more than 31,000 from last year. Retakers have also increased sharply as universities expand medical school quotas, intensifying competition across the board. According to Jongro Academy, the nationwide competition rate for early admissions reached 9.77:1, up from 9.42:1 a year earlier. In the Seoul metropolitan area, the ratio soared to 18.83:1, while the Gyeongin region posted 13.08:1 and non-capital regions 6.49:1 — the sharpest jump outside Seoul in years. The pressure does not end with a university acceptance letter. South Korea has topped the OECD in university enrollment for 17 consecutive years; as of 2023, 70.6 percent of Koreans aged 25 to 34 held higher-education degrees, far above the OECD average of 48.4 percent. With seven out of ten young Koreans college-educated, the race for a limited pool of stable, white-collar jobs becomes a zero-sum battle, driving up the number of young NEETs — those neither employed, in education, nor in training. Statistics Korea's September employment data shows youth employment for ages 15 to 29 falling to 45.1 percent, marking a 16-month decline. More than 400,000 young people now describe themselves as "just resting," effectively off the labor force. Japan, by contrast, enrolls far fewer students in higher education — roughly in the 50 percent range — but posts a 98 percent employment rate for new graduates. A Korea Development Institute report underscores the scale of the problem: while the working-age population in their 20s shrank 17 percent over the past two decades, the number of idle youths surged 64 percent, from 250,000 to 410,000. The share of 20s neither studying nor working has doubled, from 3.6 percent to 7.2 percent. Another ranking Korea has long topped is its suicide rate. The country recorded 29.1 suicides per 100,000 people in 2024 — the highest since 2011 — with an average of 40 lives lost each day. Suicide is the leading cause of death among Koreans in their 20s. A Korea University medical team analyzing 100,000 suicide cases from 2013 to 2020 found that 22.5 percent stemmed from economic or occupational distress, underscoring the direct link between socioeconomic pressures and mental health. Suneung marks a pivotal moment for today's young Koreans, but its symbolism now extends far beyond a single exam day. Korea must move beyond habitual ceremony and confront the deeper structural strains threatening the future of its youth. 2025-11-11 17:01:45
  • South Korea sets ambitious target for greenhouse gas emissions over next decade
    South Korea sets ambitious target for greenhouse gas emissions over next decade SEOUL, November 11 (AJP) - South Korea has set an ambitious goal to reduce its greenhouse gas emissions by 53 to 61 percent over the next 10 years, compared to levels in 2018. The decision on the nationally determined contribution (NDC) target, slightly higher than the government's initial proposal, was made during a cabinet meeting presided by President Lee Jae Myung at the presidential office in Yongsan, Seoul, on Tuesday. The NDC under the 2015 Paris Agreement sets a 10-year target that must be submitted to the UN every five years. Despite recent controversy over the NDC, turning into a carbon-neutral society is an unavoidable path for achieving sustainable growth and leaping forward as a global economy, even if it comes with challenges," Lee said during the meeting. Under the new target, the country aims to cut emissions by 325 million to 361.9 million tons over the next decade. Key strategies include expanding renewable energy, decarbonizing industrial materials, promoting zero-energy buildings, and increasing electric and hydrogen vehicles. It will be presented at the UN climate conference (COP30), which is currently underway in Belém, Brazil. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-11 16:42:30
  • Carbon-neutral hydrogen seaport eyed in South Koreas Pyeongtaek
    Carbon-neutral hydrogen seaport eyed in South Korea's Pyeongtaek SEOUL, November 11 (AJP) - Hyundai Motor Group has signed an agreement with the municipal government of Pyeongtaek City in Gyeonggi Province to build South Korea’s first carbon-neutral hydrogen port. Under the agreement, the city government plan to introduce hydrogen fuel cell generators, expand the use of eco-friendly port vehicles and equipment, and promote the import of green ammonia — a potential source of clean hydrogen. The project will also explore hydrogen-powered shore power systems, allowing ships docked at Pyeongtaek Port to draw electricity from hydrogen fuel cells instead of running their engines, cutting both emissions and energy costs. The memorandum of understanding, signed Tuesday at Pyeongtaek City Hall, brought together Hyundai Motor, Kia, Hyundai Glovis and local authorities to establish hydrogen production, storage and fueling infrastructure at the port, one of South Korea’s key logistics hubs. Hyundai will lead the hydrogen technology initiatives, while Kia and Hyundai Glovis will oversee hydrogen-related operations at the port. Pyeongtaek City will be responsible for building hydrogen production infrastructure, and local agencies will work to streamline regulations. “This partnership demonstrates how the public and private sectors can work together to achieve South Korea’s hydrogen port and city policy goals,” said Ken Ramirez, executive vice president of Hyundai Motor Group, in a statement. “It is a major step toward establishing eco-friendly power infrastructure within a port for the first time in the country.” Designated as a “hydrogen city” in 2023, Pyeongtaek is developing a large-scale hydrogen pipeline connecting the harbor with the Gyeonggi Free Economic Zone. Hyundai has already begun testing hydrogen-powered vehicle transporters between its Asan manufacturing plant and Pyeongtaek Port as part of efforts to reduce logistics emissions. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-11 16:31:23
  • Asian stocks give up morning gains; KOSPI barely holds positive terrain
    Asian stocks give up morning gains; KOSPI barely holds positive terrain SEOUL, November 11 (AJP) - Asian markets ended a volatile Tuesday mostly lower, with Korea’s main index the lone outlier that managed to stay in positive territory despite surrendering most of its early jump. Morning gains faded as lingering doubts over the U.S. Federal Reserve’s rate path outweighed relief over progress toward ending the U.S. government shutdown. South Korea’s benchmark KOSPI rose 0.81 percent to 4,106.39 after surging nearly 3 percent earlier in the day. The index briefly slipped into negative territory around 2:20 p.m. before recovering modestly. The won weakened, with the U.S. dollar climbing to as high as 1,464.8 won amid a delayed release of the Seoul–Washington tariff-negotiation factsheet. Retail investors took profits, offloading 282 billion won ($193 million) and curbing the early rally. Institutions and foreign investors turned net buyers, picking up 222.6 billion won and 78.3 billion won, respectively. Market bellwethers Samsung Electronics and SK hynix led the gains. Samsung rose 2.88 percent to 103,500 won, while SK hynix added 2.15 percent to 619,000 won. Tariff-sensitive stocks, however, were under pressure. With the tariff-agreement factsheet still on hold, Hyundai Motor — which remains subject to the 25 percent U.S. auto tariff — slipped 0.55 percent to 269,000 won. Japan’s Nikkei 225 also reversed early gains, ending 0.14 percent lower at 50,842.93 after rising more than 0.7 percent in morning trade. Kawasaki Heavy Industries — buoyed in prior sessions by expectations tied to the Takaiichi Sanae cabinet — extended its sharp retreat, plunging 6.11 percent to 10,685 yen ($69.29). Sony, in contrast, jumped 5.51 percent to 4,520 yen after raising its fiscal-year 2025 earnings outlook by 8 percent to 1.43 trillion yen, citing strong image-sensor performance and the success of the blockbuster anime film Demon Slayer: Infinity Castle. China’s Shanghai Composite slipped 0.39 percent to 4,002.76. Advanced-equipment makers outperformed, with Beijing Worldia Diamond Tools surging 16.04 percent to 82.58 yuan ($11.6). Consumer-exposed sectors lagged amid persistent domestic weakness; Dalian Sunasia Tourism tumbled 7.17 percent to 47.11 yuan. Taiwan’s TAIEX mirrored the broader regional reversal, ending down 0.3 percent at 27,784.95 after an early rise of more than 0.4 percent. Hong Kong’s Hang Seng Index also surrendered gains, trading 0.12 percent lower at 26,618 as of 4:11 p.m. 2025-11-11 16:31:22
  • South Koreas Auros Technology to provide chipmaking tools to Samsung
    South Korea's Auros Technology to provide chipmaking tools to Samsung SEOUL, November 11 (AJP) - Auros Technology, a South Korean maker of semiconductor measurement equipment, has won new contracts from Samsung Electronics to supply tools used in hybrid bonding and post-process inspection. The deal marks a notable expansion for Auros, which until recently was primarily known as a supplier to SK hynix. The company will now provide Samsung with precision tools used in both the front-end and back-end stages of chip production. According to investment banking sources, Samsung has ordered two HE-900IR infrared overlay systems from Auros, each priced at about 3 billion won, or roughly $2.2 million. The combined value of the order, about 6 billion won, represents nearly 10 percent of Auros’s 2024 revenue of 61.4 billion won. The HE-900IR uses infrared light to measure wafer alignment and copper-to-copper connections in hybrid bonding — a critical process for stacking high-bandwidth memory (HBM) chips. Auros also received an order for its MT-30T, a measurement system used in Samsung’s HBM stacking process to enhance yield by ensuring precise chip spacing. The devices are scheduled for installation at Samsung’s Cheonan and Onyang facilities by early December. Samsung is reportedly considering ordering at least five additional units, which could bring the total value of the project to as much as 15 billion won. Analysts say the order reflects Samsung’s intensified efforts to improve HBM yields as it competes with SK hynix for major supply contracts with Nvidia. “Samsung’s current HBM yields are lower than SK hynix’s, and it is ramping up investment in advanced inspection equipment to close that gap,” said one securities industry source on condition of anonymity. Auros, founded in 2007, began supplying equipment to SK hynix and added Samsung as a customer in 2023. Last year, it signed a 9.6 billion won contract with Samsung for its OL-900NW overlay inspection tool used in HBM pad alignment. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-11 15:39:32
  • Flights to be grounded for 30 minutes to reduce noise for test-takers during their crucial exam
    Flights to be grounded for 30 minutes to reduce noise for test-takers during their crucial exam SEOUL, November 11 (AJP) - All flights in South Korea will be grounded for about 35 minutes on Thursday to help students take their English listening test undisturbed, as more than 550,000 test-takers nationwide will sit for their annual university entrance exam. According to the Ministry of Land, Infrastructure and Transport, takeoffs and landings at airports nationwide will be suspended from 1:05 p.m. to 1:40 p.m. to minimize noise disruptions for students, affecting around 140 flights. But some emergency and urgent flights will be exempt. Drones and other aerial devices will also be banned, with prior notice provided to the public. The ministry will work with relevant agencies including the Korea Airports Corporation and Incheon International Airport Corporation, to control and monitor air traffic. Joo Jong-wan, a ministry official, advised passengers to be aware of such measures and check their departure times in advance. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-11 15:37:39