Journalist
Candice Kim, Lim Jaeho
candicekim1121@ajupress.com, ajupresswogh@ajupress.com
-
PHOTOS: Special counsel team opens inquiry into Yoon Suk Yeol SEOUL, June 29 (AJP) - A special counsel team concluded its initial round of questioning with former President Yoon Suk Yeol, Sunday, as part of an ongoing investigation into alleged insurrection related to his declaration of martial law on Dec. 3. Yoon was allowed to leave after 15 hours of interrogation. Prosecutors, however, plans to summon him again at 9 a.m. Monday for further inquiry. The session marked a striking moment of reversal for Yoon, who was questioned for the first time inside the very prosecutors’ office where he once served — and where he rose to national prominence leading a special counsel probe into former President Park Geun-hye’s corruption scandal. 2025-06-29 10:05:42 -
South Korea-US tariff negotiations intensify as July deadline approaches with specific American demands SEOUL, June 28 (AJP) - South Korea and the United States engaged in detailed tariff negotiations from Jun. 22 to 27 in Washington DC, with American officials presenting specific demands ranging from beef import regulations to participation in Alaska's liquefied natural gas projects, government sources said on Saturday. The third round of technical discussions between Trade Minister Yeo Han-gu and US counterparts comes as the Jul. 8 deadline for mutual tariff relief approaches, marking a critical juncture for the Lee Jae-myung administration's first major trade negotiations with Washington. American negotiators outlined concrete requirements for addressing what they characterize as trade barriers, including relaxing South Korea's 30-month age limit on beef imports and removing restrictions on Google's precision mapping data exports. US officials argued that reducing Korea's trade surplus requires eliminating such non-tariff barriers while expanding purchases of American goods and services. The demands represent a more detailed version of issues previously raised in annual trade barrier reports, with particular emphasis on agricultural and digital sector reforms. Korean negotiators emphasized the unfairness of imposing 25 percent mutual tariffs on a country that maintains virtually tariff-free trade through existing free trade agreements, arguing that minimizing tariffs on interconnected supply chain items like steel and automobiles would actually support America's manufacturing renaissance goals. While expressing willingness to engage constructively on information technology and manufacturing standards, Korean officials highlighted that South Korea already serves as America's largest beef import market, seeking to address what they termed misunderstandings about existing trade relationships. The White House separately requested Korean participation in Alaska's LNG development project, with Energy Council Chairman Doug Burgum meeting Minister Yeo to discuss what officials described as President Trump's priority energy initiative. A senior government official noted that among various American energy projects, the Alaska LNG development represents the administration's singular focus, though participation would require careful evaluation given the project's commercial risks and scale. The negotiations face a critical decision point in July, with the US indicating possible deadline extensions until September for countries presenting favorable proposals while maintaining pressure on others to conclude talks promptly. Trade experts suggest that resolving the 25 percent tariffs crucial to Korea's trade-dependent economy will require high-level political decisions on which American demands to accommodate, with the outcome likely determined through eventual summit-level discussions between the two countries' leaders. 2025-06-28 17:35:46 -
Samsung Electronics surpasses 10,000 GWh renewable energy usage in 2024, introduces first domestic PPA contracts SEOUL, June 28 (AJP) - Samsung Electronics' renewable energy consumption exceeded 10,000 gigawatt-hours for the first time in 2024, reaching 10,069 GWh and representing an 8.4 percent increase from the previous year, the company reported on Friday. The milestone was disclosed in Samsung's 2025 Sustainability Management Report, which detailed the company's environmental, social and governance performance alongside its expanding commitment to clean energy adoption across global operations. The company's renewable energy conversion rate improved to 31.4 percent in 2024, up from 31.0 percent in 2023 and 30.7 percent in 2022, demonstrating steady progress toward its carbon neutrality targets. The Device Experience division achieved a 93.4 percent renewable energy conversion rate, while the Device Solutions semiconductor division reached 24.8 percent. Samsung also introduced its first domestic power purchase agreements for solar energy, marking a significant expansion of its renewable energy infrastructure. Samsung established multiple PPA contracts throughout 2024 to accelerate renewable energy adoption. The DX division completed 5.8 megawatt solar PPA facilities at manufacturing sites in Gwangju and Gumi in March, with an additional 10 MW contract signed for the Gwangju facility in February 2025. The DS division secured 115 MW of solar PPA contracts for domestic operations in June and signed a 10-year agreement with Korea Water Resources Corporation for 254 MW from the Sihwa Lake tidal power plant. The company also reported energy efficiency improvements across its product lineup, with seven representative models showing 31.5 percent reduced power consumption compared to 2019 models with equivalent specifications and performance. Samsung's domestic workforce reached a record high of 125,297 employees by the end of 2024, an increase of approximately 4,500 from 2023, while total global headcount declined to 262,647 due to overseas workforce reductions. The achievements support Samsung's environmental strategy announced in September 2022, targeting carbon neutrality for the DX division by 2030 and company-wide carbon neutrality by 2050. 2025-06-28 16:06:11 -
Special prosecutor to question former President Yoon over martial law case on Saturday SEOUL, June 28 (AJP) - Special prosecutor Jo Eun-seok questioned former President Yoon Suk-yeol on Saturday as a suspect in connection with the Dec. 3 martial law declaration and related charges, after Yoon arrived at the Seoul High Prosecutors' Office through the main entrance at 9:55 AM. The questioning marks the first time the former leader has been investigated at the prosecution office where he once worked for over two decades, coming 16 days after the special prosecutor's office launched its investigation into allegations of insurrection and foreign exchange violations. Yoon appeared as a suspect facing charges of obstruction of official duties and abuse of authority under the Presidential Security Service Act. The charges include allegedly instructing his security detail to prevent his arrest during a January warrant execution attempt and ordering the deletion of information from encrypted phones used by former military commanders following the martial law declaration on Dec. 7, 2024. Yoon declined to answer reporters' questions about why he chose not to use the underground parking garage or whether he would exercise his right to remain silent, entering the building directly with his lawyers Song Jin-ho and Chae Myung-sung. Despite initial requests from Yoon's legal team to arrive privately through an underground parking garage to avoid media exposure, the former president ultimately complied with prosecutors' requirements for a public appearance through the main entrance. The special prosecutor's office had maintained that previous presidents who faced investigation all appeared before cameras, citing precedents involving former presidents Roh Moo-hyun, Lee Myung-bak, and Park Geun-hye who all had their prosecution appearances publicly documented. The special prosecutor's investigation has proceeded rapidly since its establishment on Jun. 12, moving faster than two other special prosecutor offices launched simultaneously. The office has already secured additional indictments to extend detention periods for key figures including former Defense Minister Kim Yong-hyun and is pursuing arrest procedures for former military intelligence commanders. Following Friday's questioning, prosecutors will determine whether to conduct additional investigations or proceed with formal custody procedures for the former president. 2025-06-28 10:23:53 -
Musinsa'high-end concept store sees 60 percent surge in foreign customer sales in first half SEOUL, June 27 (AJP) - Foreign customer transactions at Musinsa Empty Seongsu, the high-end fashion concept store operated by South Korean fashion platform Musinsa, surged 61 percent in the first half of 2025 compared to the same period last year, the company announced on Friday. International visitors now account for approximately 56 percent of total offline sales at the Seongsu location, Seoul's iconic hipster district, highlighting the store as a must-visit fashion destination for global tourists. The dramatic increase in foreign customer traffic reflects Musinsa Empty's growing reputation as a destination for experimental designer brands from both South Korea and abroad. Analysis of offline sales data from January to June 23 shows foreign customers generating more than half of the total revenue, with the actual figure potentially higher when considering visitors who did not claim tax refunds. The store's location in the fashion and entertainment district, near Seoungsu Station Exit 3, has made it easily accessible to foreign tourists exploring the area's industrial-chic shopping scene. Exclusive collaborations and pop-up stores have been key drivers attracting foreign customers to the concept store. Notable brands, including Charles Jeffrey Loverboy, Marine Serre, and Grouse, have used Musinsa Empty as a platform to reach Korean and international audiences. Korean designer brand Stand Oil's exclusive collection and pop-up store collaboration with Musinsa Empty drew particular attention, with foreign tourists comprising more than half of the customers during the pop-up period. The store continues expanding its international appeal through strategic brand partnerships and exclusive releases. Musinsa Empty is currently featuring a collaboration between South Korean designer brand Ojos and Hunter through July 3, with customers purchasing rain boots at the pop-up store being offered complimentary rain ponchos on a first-come basis. The collaboration launch has generated significant interest, with long queues of customers waiting outside the Seongsu store. A Musinsa representative told AJP that social media platforms, including TikTok and Instagram, have been crucial in spreading the word about the store among international visitors. "Foreign customers often discover us through social media, and our standalone building location near Exit 3 makes us naturally visible to tourists," the representative explained. The official noted that while specific nationality breakdowns for Musinsa Empty aren't available, overall Musinsa store data shows customers from approximately 100 countries, with Chinese and Japanese visitors leading Asian customer segments, while American and European visitors are also increasing. "Foreign customers now represent about half of our Seongsu store customers, and this trend continues growing," the representative added, emphasizing the store's role as a platform for discovering and nurturing niche fashion brands both domestically and internationally. 2025-06-27 16:23:46 -
Samsung heir Lee Jae-yong awaits Supreme Court ruling on merger case next month SEOUL, June 27 (AJP) - Samsung Electronics Chairman Lee Jae-yong will receive a Supreme Court ruling on Jul. 17 regarding charges related to the 2015 merger between Samsung C&T and Cheil Industries. Lee was acquitted of all 19 charges in an appeals court ruling in February, maintaining his innocence in a case that has lasted nearly five years since prosecutors first filed charges in September 2020. The case centers on the 2015 merger that combined Samsung C&T and Cheil Industries at a ratio of one Cheil Industries share for every three Samsung C&T shares. Prosecutors alleged the merger ratio was deliberately structured to benefit Lee's management succession at the expense of minority shareholders, arguing the terms unfairly favored Lee's consolidation of control over the Samsung Group conglomerate. Both the initial trial court in February 2024 and the appeals court ruled in Lee's favor, finding insufficient evidence to support the prosecution's claims. The courts specifically rejected evidence obtained from 18 terabytes of backup server data seized from Samsung Biologics and Samsung Bioepis, ruling that the digital evidence and additional materials submitted during the appeals process lacked legal admissibility. The case now proceeds to the Supreme Court's Third Division, presided over by Justice Oh Seok-jun, following the prosecution's final appeal. The July 17 ruling will mark the conclusion of a legal battle that began when Lee and other Samsung executives were indicted four years and 10 months ago, potentially ending one of South Korea's most closely watched corporate governance cases. 2025-06-27 15:02:03 -
IFA chief expects Samsung and LG appliance subscription services to spread across Europe SEOUL, June 27 (AJP) - Home appliance subscription services offered by Samsung Electronics and LG Electronics represent a win-win solution for both consumers and companies that will likely expand to European markets including Germany, according to the head of the Internationale Funkausstellung Berlin (IFA), a major consumer electronics show, on Thursday. Leif Lindner, CEO of IFA, told reporters at a press briefing in Seoul's COEX that subscription models reduce upfront costs for consumers while generating higher lifetime revenue for manufacturers through extended customer relationships. Home appliance subscription services allow customers access to the latest appliances for manageable monthly fees, making the services particularly popular among single-person households and younger demographics. LG Electronics pioneered the South Korean market with its subscription service, driven by trends such as the increasing number of single-person and dual-income households. The company's annual subscription revenue, excluding care services, reached 1.67 trillion won ($1.2 billion) in 2024, representing a 73.7 percent increase from 2023. Currently, Europe's appliance subscription market remains in early development stages compared to South Korea's mature ecosystem. German-based Grover dominates the European market, offering home appliances starting from €24.90 ($29.1) per month across Germany, Austria, Spain, and the Netherlands, with monthly rental costs typically representing 3 to 4 percent of an item's total purchase price. However, Grover's model differs significantly from Samsung and LG's approaches, focusing primarily on electronics and tech products rather than comprehensive home appliance ecosystems. While Grover emphasizes device circulation and environmental benefits through refurbishment, Samsung and LG's services integrate artificial intelligence, personalized maintenance, and seamless connectivity within broader smart home platforms. Industry observers expect South Korean companies to differentiate themselves in European markets through superior AI integration, predictive maintenance capabilities, and comprehensive after-sales service networks that leverage their manufacturing expertise and global service infrastructure. Samsung Electronics joined the subscription market in late 2024 with its AI Subscription Club service, adding competitive pressure to the growing segment. Lindner noted that the subscription model benefits the industry's overall growth and expressed confidence that European markets would adopt similar services in the near future, citing the mutual advantages for both manufacturers and consumers throughout the appliance lifecycle. The IFA executive also highlighted smart home technology as a promising sector where South Korean companies maintain technological leadership. He emphasized that smart home solutions were popular at last year's IFA exhibition and predicted continued strong interest, with this year's event focusing on home automation and connectivity solutions. The executive noted that South Korea's advanced position in smart home technology would likely feature prominently at the upcoming exhibition. IFA 2025 will take place Sept. 5 to 9 in Berlin under the theme "Imagine Tomorrow," with participation from global semiconductor companies including Nvidia and Qualcomm. The exhibition, considered one of the world's three major electronics and IT trade shows alongside CES in Las Vegas and Mobile World Congress in Barcelona, will emphasize artificial intelligence, quantum computing, and sustainability as major trends. Lindner described the event as becoming more youth-oriented and future-focused, with particular emphasis on autonomous AI solutions. 2025-06-27 11:14:07 -
Shinsegae launches flagship Chicor beauty store in Seoul's Gangnam SEOUL, June 26 (AJP) - Shinsegae Department Store debuted its revamped beauty concept store Chicor in the heart of Seoul’s Gangnam district on Thursday, seeking to redefine luxury beauty shopping through high-tech personalization and curated brand offerings. The new flagship is the first in what the company says will be a wider expansion of the Chicor brand, positioning it as a specialized destination for both global luxury and trending Korean beauty products. Touting what Shinsegae describes as the first "hyper-personalized" services in South Korea’s beauty retail sector, the store features an artificial intelligence-powered analysis system that examines customers’ scalp conditions to formulate customized shampoos and serums. “Chicor Gangnam is not just another beauty store — it’s a showcase of what the future of personalized cosmetics looks like,” the company said in a statement. The store also places a spotlight on K-beauty, with a dedicated Makeup Zone that highlights rising Korean brands such as Tirtir, Laka, Dear Dahlia, Hince, and Rom&nd. Each label is housed in its own shop-in-shop setup, creating a boutique-like experience within the larger retail space. The location also features roughly 20 global brands, including Bath & Body Works, NARS, and Hourglass, catering to a wide spectrum of beauty preferences. 2025-06-26 15:50:59 -
China's Tencent expands global reach with gaming, AI, fintech at its core Editor's Note: This article is the 24th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, June 26 (AJP) - Tencent Holdings is one of China’s most powerful technology companies. It reported revenue of 180.02 billion yuan ($25.1 billion) in the first quarter of 2025, marking a 13 percent increase from a year earlier. The company’s financial performance underscores its transformation from a messaging startup into a digital conglomerate with sprawling influence in entertainment, finance, artificial intelligence and cloud computing. Founded in 1998 by Ma Huateng and four others, Tencent began with QQ, a desktop instant messaging service that captured the early Chinese internet audience. Over the next two decades, the Shenzhen-based firm evolved into a dominant player across China’s digital landscape. As of June 2025, Tencent holds a market capitalization of approximately $585 billion, ranking it the 16th most valuable company in the world and the largest internet company in China by market value. Gaming remains Tencent’s largest and most profitable business. The company generated 42.9 billion yuan in gaming revenue in the first quarter, fueled by marquee titles such as Honor of Kings, Peacekeeper Elite, and the global hit PUBG Mobile. Tencent has further cemented its global gaming presence through high-profile investments and acquisitions, including full ownership of Riot Games and substantial stakes in Epic Games and Supercell. Its newest success, Delta Force, reached 12 million daily active users in April, making it the sixth most popular mobile game worldwide and the most successful new release in the past three years. The title’s breakout performance illustrates Tencent’s continued dominance in the mobile gaming market, particularly in China, where smartphones are the primary gaming device for hundreds of millions. No product better exemplifies Tencent’s hold on everyday life in China than WeChat. Launched in 2011, this app has grown far beyond messaging to become a platform for social networking, payments, e-commerce, business services, and more. With more than 1.3 billion monthly active users, WeChat is often described as a “super app,” and it has become nearly indispensable in China, used for everything from chatting with friends to paying utility bills and accessing government services. The app’s payment function, WeChat Pay, has grown into one of China’s two dominant mobile payment systems, rivaling Alibaba’s Alipay. The seamless integration of social and financial services has enabled Tencent to expand its footprint into wealth management, insurance, and small-scale lending. As global tech giants race to build artificial intelligence capabilities, Tencent is positioning itself as a serious contender. The company increased capital expenditures to 27.5 billion yuan in the first quarter, a 91 percent jump from a year earlier, with much of the funding directed toward AI infrastructure and development. Its proprietary large language model, Hunyuan, powers applications ranging from chatbots like Yuanbao to targeted advertising systems and in-game personalization. “AI is already contributing meaningfully to revenue,” Martin Lau, Tencent’s president, said during a recent earnings call. “We are seeing real improvements in engagement and monetization.” Unlike some rivals that treat AI as a standalone venture, Tencent has opted to integrate it directly into core business units — a strategy designed to enhance, rather than disrupt, existing services. Despite its deep roots in China, Tencent has quietly built an international presence — particularly in gaming — by investing in or partnering with Western companies rather than launching its own branded services in foreign markets. The approach has enabled it to navigate complex regulatory landscapes and geopolitical scrutiny while maintaining influence in some of the world’s most competitive tech sectors. Rather than attempting to export WeChat to markets dominated by platforms like WhatsApp and Facebook, Tencent has focused on sectors where its technical prowess and capital provide clear advantages. That includes gaming, as well as cloud computing and enterprise services. With a foundation built on domestic ubiquity and a growing portfolio of global assets, Tencent is poised to benefit from multiple long-term trends: the expansion of mobile gaming, the proliferation of AI applications, and the increasing digitization of business services. Its integrated approach — using existing platforms to scale into adjacent markets — has proven resilient in the face of shifting regulation and geopolitical headwinds. As Tencent deepens its investments in artificial intelligence and continues to diversify its revenue streams, it may well shape the next era of global digital innovation — not only as a Chinese titan, but as a truly international tech powerhouse. 2025-06-26 10:36:40 -
Asiana Airlines resumes Phuket flights after two-year suspension SEOUL, June 24 (AJP) - Asiana Airlines will resume its daily service between Incheon and Phuket on Wednesday, restoring a popular Southeast Asian route that had been suspended for more than two years, the carrier said on Tuesday. The route, which was halted in April 2023, will operate once a day, departing from Incheon International Airport at 6:10 p.m. and arriving in Phuket at 10:30 p.m. local time. Return flights will leave Phuket at 11:40 p.m., arriving in Incheon at 8:00 a.m. the following morning. On Saturdays, the return flight is scheduled to depart slightly earlier, at 11:25 p.m. The restoration of the service comes amid growing demand for overseas travel during South Korea’s peak summer vacation season, particularly to beach destinations in the region. Phuket, often dubbed the “Pearl of Asia,” remains one of Asia’s premier resort getaways, known for its turquoise waters, white sand beaches and a wide array of leisure offerings. The airline’s return to Phuket reflects a broader recovery in outbound travel from South Korea as pandemic-era restrictions continue to ease. Still, travelers are advised to take note of new entry requirements: since May, Thailand has mandated that all foreign visitors submit an electronic arrival card, known as the Thailand Digital Arrival Card (TDAC), before entering the country. Applications can be submitted starting three days prior to departure through the official TDAC website. 2025-06-24 15:30:58