Journalist

Kim Seong-se
  • Record amounts of smuggled cigarettes seized
    Record amounts of smuggled cigarettes seized SEOUL, January 7 (AJP) - Record amounts of smuggled cigarettes were seized last year, the Korea Customs Service (KCS) said on Wednesday. The customs watchdog said it has worked closely with major foreign customs authorities to crack down on multinational smuggling, seizing some 5.16 million packs or 103 tons of cigarettes bound for South Korea in separate cases, the largest since 2021, when about 3.6 million packs were detected. The massive seizure came after the KCS monitored routes and shipments from suspected cargo in collaboration with overseas authorities in major countries such as China, Taiwan, and the United Kingdom to tackle a recent surge in cigarette smuggling, resulting in the detection of some 50 suspected shipments, including 23 from Australia and five each from Hong Kong and Taiwan. The KCS expressed concern that such smuggling could be linked to more serious international crimes, such as drug trafficking and arms deals, adding that multinational cooperation among relevant authorities is crucial to stopping them. It said smugglers often try to export cigarettes disguised as legitimate cargo by transferring them through a third country, a method that can effectively evade customs clearance. "We will further strengthen cooperation with countries currently forming a joint task force and expand partnership with more countries including those in Southeast Asia as well as Central and South America," a KCS official said. 2026-01-07 11:18:38
  • AI chip demand to lift Koreas exports in 2026, but autos face headwinds
    AI chip demand to lift Korea's exports in 2026, but autos face headwinds SEOUL, January 06 (AJP) - Semiconductors, which powered South Korea’s exports last year amid expanding artificial intelligence demand, are expected to remain the main growth driver in 2026 as the chip upcycle continues, while auto exports could lose momentum, according to the Ministry of Trade, Industry and Energy on Tuesday. South Korea’s annual exports totaled $709.7 billion last year, surpassing $700 billion for the first time. The milestone came seven years after exports first exceeded $600 billion in 2018. The government is targeting exports of $700 billion again this year, with semiconductors at the core of its strategy. Chip exports rose 22.2 percent from a year earlier to $173.4 billion in 2025, supported by steady demand for AI chips and a sharp increase in fixed prices for memory semiconductors. "Semiconductors are likely to continue lifting overall exports as the AI-driven chip upcycle persists," a ministry official said. "With South Korean companies maintaining a technological edge, the structure of global demand points to further growth in chip shipments." Exports could gain additional support if shortages of commodity memory chips persist. As chipmakers shift production capacity toward high-bandwidth memory, prices for older, general-purpose memory products are expected to remain elevated for the time being. Wireless communications devices and display exports are also expected to stay in positive territory, the ministry said, citing continued growth in the foldable smartphone market. Consumer goods exports, including food and beauty products, are also forecast to expand, supported by the global popularity of South Korean culture and rising trust in Korean brands. The ministry said fast-growing consumption among younger buyers, particularly in emerging markets, is increasing the share of consumer goods in total exports. By contrast, auto exports may slow this year. Auto shipments rose 1.7 percent from a year earlier to $72.0 billion in 2025, as strong demand from the European Union offset weaker exports to the United States. This year, risks related to U.S. tariffs are expected to become more pronounced. With a 15 percent item-specific tariff confirmed in the world’s largest auto market, South Korean automakers would face the same conditions as competitors, though analysts warn profitability could deteriorate over the medium to long term. Additional uncertainties include the European Union’s introduction of a life-cycle greenhouse gas assessment system for vehicles and China’s expanding electric vehicle exports. The outlook for oil products and petrochemical exports is also uncertain. Oil product export prices are falling as demand weakens amid a global economic slowdown and declining crude prices. Petrochemicals, which are undergoing restructuring due to oversupply, may struggle to expand exports as operating rates fall despite rising capacity. Steel exports could face further pressure from stagnant demand and the spread of protectionist measures. 2026-01-06 15:52:32
  • South Korea to strengthen protection of K-brands in China
    South Korea to strengthen protection of K-brands in China SEOUL, January 06 (AJP) - South Korea’s intellectual property office said on Tuesday it signed a memorandum of understanding with its Chinese counterpart to deepen cooperation on intellectual property, on the sidelines of a South Korea–China summit held at the Great Hall of the People in Beijing. The agreement, signed between the Korean Intellectual Property Office (KIPO) and China’s National Intellectual Property Administration (CNIPA), updates and expands a similar pact reached in 2021. Under the revised agreement, the two sides will broaden cooperation in areas including the protection of intellectual property rights, the prevention of counterfeit goods, the use of new technologies such as artificial intelligence and big data in patent examinations and analysis, and the promotion of intellectual property transactions, commercialization and finance. Ahead of the signing, KIPO Commissioner Kim Yong-seon met with CNIPA head Shen Changyu for talks on IP policy trends, existing cooperation and priority areas for future collaboration, the KIPO said. The two offices also agreed to jointly respond to bad-faith trademark applications, including cases in which applicants seek to preemptively register trademarks already in use in order to extract economic gains. “This MOU and stronger cooperation to prevent malicious trademark preemption will help protect K-brands more effectively in China,” Kim said. 2026-01-06 10:04:45
  • Seoul, Beijing agree to speed up services and investment talks under FTA
    Seoul, Beijing agree to speed up services and investment talks under FTA SEOUL, December 30 (AJP) -South Korea and China have agreed to speed up second-stage negotiations under their bilateral free trade agreement, focusing on services and investment, as the two sides seek to broaden economic cooperation. Yeo Han-koo, South Korea’s minister for trade, met Li Chenggang, China’s international trade negotiation representative, in Beijing to discuss ways to accelerate follow-up negotiations under the Korea-China FTA. The two sides agreed to hold regular in-person meetings starting next year, with participation from all relevant government agencies, to push talks forward and resolve remaining issues. They also agreed to convene another trade ministers’ meeting in the first half of next year to allow top officials to directly review progress in the negotiations. During the meeting, the two sides discussed broader FTA implementation issues, including petrochemicals, government procurement and intellectual property rights, and agreed to strengthen cooperation in these areas. Ahead of the ministerial talks, Yeo held a roundtable meeting with South Korean companies operating in China to assess business conditions and hear about difficulties faced on the ground. Issues raised by industry were also discussed during the ministerial meeting, with both sides agreeing to continue consultations through follow-up negotiations, a joint committee and working-level channels. The Ministry of Trade, Industry and Energy said it will maintain regular communication with Korean companies to better reflect on-the-ground concerns in policy discussions and strengthen support to stabilize business operations and improve market access. During his visit, Yeo also met senior officials from the China Council for the Promotion of International Trade and the Development Research Center of the State Council. They exchanged views on shifts in the global trade environment, the impact of supply chain restructuring and technological change, and the future direction of bilateral trade cooperation. The two sides shared the view that policy dialogue should be strengthened to address common challenges facing companies, including environmental and digital transitions, evolving global trade rules, and the need for greater predictability in trade and investment. They agreed to expand joint policy research and enhance working-level communication across industries. In addition, Yeo visited the Korea Innovation Center (KIC China) in Zhongguancun — often dubbed China’s Silicon Valley — to discuss ways to support South Korean startups seeking to enter the Chinese market. He also toured Chinese robotics firm Galbot, where he reviewed major use cases and on-site demand, and explored potential areas of cooperation such as technology collaboration, pilot projects, and information-sharing on standards and certification. The ministry said the visit confirmed potential complementarities between South Korea and China in the convergence of artificial intelligence and robotics, and that it will seek to identify concrete areas for future policy coordination and industrial cooperation. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-30 13:28:14
  • South Korea tops $700 billion in annual exports for first time
    South Korea tops $700 billion in annual exports for first time SEOUL, December 29 (AJP) - South Korea has become the sixth country in the world to surpass US$700 billion in annual exports, achieving the milestone for the first time. According to the Ministry of Trade, Industry and Energy, preliminary data show that this year's cumulative exports reached $700 billion as of Monday. The export-dependent country first exceeded $100 billion in annual exports in 1995, then surpassed $200 billion in 2004, $300 billion in 2006, $400 billion in 2008, $500 billion in 2011, $600 billion in 2018, and $700 billion this year, more than seven decades after its founding in 1948. With the milestone, South Korea became the sixth country to surpass $700 billion in exports, after the U.S. (2000), Germany (2003), China (2005), Japan (2007) and the Netherlands (2018). The ministry said the milestone was reached despite headwinds from U.S. President Donald Trump's tariff policies and growing protectionism. It said exports have helped boost economic growth and create jobs through trade surpluses despite South Korea's heavy reliance on energy imports. Exports fell in the first half of the year amid global economic uncertainties, but monthly exports have set record highs for six straight months since June. By sector, manufacturing industries led by semiconductors as well as automobiles, ships, and biotechnology drove the growth, while food, beauty products, and electrical equipment emerged as new growth engines. By region, exports to the U.S. and China have declined, while shipments to ASEAN, the European Union, and Latin America have increased, helping diversify South Korea's export markets. Foreign direct investment (FDI) is also recovering after declining in the first half, already surpassing last year's record of $34.57 billion, buoyed by increased investment in advanced technologies including artificial intelligence (AI). The ministry said it will work to maintain this momentum next year by strengthening competitiveness and fostering innovation in manufacturing and other industries. 2025-12-29 15:33:02
  • Customs watchdog releases list of agricultural products exempt from US tariffs
    Customs watchdog releases list of agricultural products exempt from US tariffs SEOUL, December 24 (AJP) - South Koreans will be able to check which goods are exempt from the country's recently concluded reciprocal tariffs with the U.S., the Korea Customs Service (KCS) said on Wednesday. The KCS said it compiled the list of some 248 agricultural products including coffee, tea, and fruits, which have been exempt from the reciprocal tariffs after the White House issued an executive order exempting them effective from Nov. 13. Those exempt also include seasoned seaweed and red pepper powder, which are among the country's staple foods and ingredients, relieving tariff burdens for South Korean exporters. The KCS also disclosed a separate list on its website, which contains some 548 aircraft and parts also subject to exemptions. 2025-12-24 13:46:27
  • South Korea unveils roadmap to move chemical sector up global value chain
    South Korea unveils roadmap to move chemical sector up global value chain SEOUL, December 23 (AJP) - South Korea will revamp public-private research and development in its chemical industry to accelerate a shift toward higher value-added and environmentally friendly production, the government said on Tuesday, aiming to lift the sector’s global standing by 2030. The Ministry of Trade, Industry and Energy said it launched a chemical industry innovation alliance at a ceremony held at the Lotte Hotel in central Seoul, attended by representatives from local governments, industry, academia and research institutions. The ministry also released its K-Chemistry Next-Generation Technology Innovation Road Map 2030. The initiative comes as policymakers increasingly view a structural shift toward specialty and advanced materials as essential, alongside ongoing efforts by petrochemical companies to rationalize excess capacity. A central change is the move to support R&D across the entire value chain – from feedstocks and materials to applications and end-user demand – rather than fragmented, material-specific projects. MOTIE said it will strengthen linkages between chemical suppliers and downstream industries such as semiconductors and next-generation vehicles. As outlined at a petrochemical industry meeting the previous day, the government will give priority R&D support to companies participating in business restructuring, the ministry added. The road map is built on three pillars: expanding higher value-added products, accelerating the transition to eco-friendly production, and strengthening responses to global environmental regulations. MOTIE said it will upgrade R&D capabilities and infrastructure to secure core materials and process technologies. To expand the use of manufacturing AI transformation in the chemical sector, the plan calls for applying artificial intelligence across the full production cycle, from materials design to manufacturing. This includes building autonomous experimentation systems that combine AI with automated equipment to shorten development timelines for new materials, as well as deploying AI in processes such as polymerization, separation and finishing. Planned projects also include the development of intelligent process-control systems that optimize operating conditions in real time while minimizing energy use, the ministry said. About 80 domestic experts participated over six months in identifying priority technologies and assessing technological capabilities. After additional reviews by research leaders at petrochemical companies, MOTIE said it compiled 217 practical component technologies. These technologies will be classified into four categories based on market potential and technological readiness, with tailored support strategies for each. “Short-term intensive” items with large markets and strong technological foundations will receive commercialization-focused R&D support, while “long-term managed” items will be backed by challenge-oriented research. “Market pioneering” items – smaller but fast-growing markets with weaker technological bases – will receive first-mover R&D and patent analysis support, while “performance diffusion” items involving mature technologies will be supported through infrastructure upgrades such as scale-up and process-efficiency improvements. The innovation alliance, described by MOTIE as a full life-cycle cooperation model for the chemical industry, will serve as the control tower for implementing the road map. It will pursue nine flagship projects across nine subcommittees, including those focused on semiconductors and future mobility. Park Dong-il, head of industrial policy at the ministry, said petrochemical companies at a meeting chaired the previous day by Vice Minister Kim Jeong-gwan had “agreed to go all-in on business restructuring.” He said the road map would serve as a springboard for an industry “in crisis” to transform itself into a higher value-added sector, adding that the government would provide full R&D and policy support to strengthen competitiveness across the chemical industry ecosystem. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-23 08:48:24
  • Korean Air, Asiana face fines for breaching merger conditions on seat supply
    Korean Air, Asiana face fines for breaching merger conditions on seat supply SEOUL, December 22 (AJP) - South Korea’s antitrust regulator said on Monday it will impose penalties totaling 6.5 billion won ($5 million) on Korean Air and Asiana Airlines for violating merger-approval conditions that restrict sharp reductions in seat supply. The Fair Trade Commission (FTC) said it will fine Korean Air 5.88 billion won and Asiana 580 million won for breaching a corrective order that bars the airlines from cutting annual seat supply to below 90 percent of 2019 levels during the same period. The penalty is a monetary sanction imposed when companies fail to comply with corrective measures attached to a merger approval, the commission said. Korean Air and Asiana filed their merger notification in November 2020, with final approval granted on Dec. 24 last year. As part of the approval, the FTC enforced service requirements include limits on reductions in seat supply, caps on average fare increases, and the maintenance of seat pitch and free baggage allowances. According to the FTC, between Dec. 12, 2024, and March 28, 2025, the two airlines supplied 82,534 seats on the Incheon–Frankfurt route, equivalent to 69.5 percent of the 118,728 seats offered during the same period in 2019. This fell 20.5 percentage points short of the required threshold. The commission said the penalties are intended to raise compliance awareness and prompt tighter management of seat supply to prevent repeat violations. 2025-12-22 14:40:53
  • South Koreas strategic oil reserves hit 100 million barrels
    South Korea's strategic oil reserves hit 100 million barrels SEOUL, December 22 (AJP) - South Korea's strategic oil reserves have surpassed 100 million barrels for the first time, the government said on Monday. The Ministry of Trade, Industry and Energy said the final oil tanker carrying this year’s stockpiled crude arrived at the Korea National Oil Corp.’s storage base in Geoje, bringing state-held reserves to 100 million barrels. Privately held oil stockpiles stood at about 95 million barrels as of October. Combined public and private reserves are sufficient to cover more than 210 days of net daily imports, exceeding the standard set by the International Energy Agency (IEA), the ministry said. South Korea began building strategic oil reserves in 1980 after the first and second global oil shocks highlighted the risks of supply disruptions. Since then, reserves have been expanded systematically, the ministry said. As a result, South Korea now holds the fourth-largest oil stockpiles among IEA member countries, providing a strong buffer against global energy supply shocks. 2025-12-22 14:22:06
  • Govt urges Mexico to minimize impact of looming tariff hikes
    Gov't urges Mexico to minimize impact of looming tariff hikes SEOUL, December 19 (AJP) - Deputy minister of Trade, Industry and Resources Park Jung-sung on Friday met with Mexican Ambassador to Seoul Carlos Peñafiel Soto to discuss trade-related issues ahead of planned tariff hikes next month. Their talks came after Park consulted with relevant industry officials last week to assess the expected impact of the tariff hikes on imports of automobiles, textiles, and other goods passed by Mexico's congress earlier this month, and come up with measures. Expressing Seoul's concerns, Park urged that steps be taken to minimize the impact on South Korean companies, adding that further revisions would be necessary. Park stressed that South Korean companies have contributed significantly to Mexico's economy and urged Mexico to ensure the tariff hikes do not affect future investment or bilateral trade. Park also said that talks on a free trade agreement between the two countries should be resumed as soon as possible to strengthen cooperation in advanced industries. The two also discussed recent progress on the U.S.-Mexico-Canada Agreement (USMCA), set to take effect in July next year, replacing the North American Free Trade Agreement (NAFTA). Park said the USMCA should continue to serve as the framework for free trade in North America and urged Mexico to actively support South Korean companies operating there. 2025-12-19 15:03:38