Journalist

김혜준
Candice Kim, Lim Jaeho
  • Trump-Kim relations could reset, but U.S. leverage diminished by Russia factor, expert says
    Trump-Kim relations could reset, but U.S. leverage diminished by Russia factor, expert says SEOUL, May 03 (AJP) - U.S. President Donald Trump could reestablish relations with North Korean leader Kim Jong Un at any time, but his negotiating leverage would likely be limited, according to a North Korea expert from a U.S. think tank. Sydney Seiler, senior advisor at the Center for Strategic and International Studies (CSIS), suggested in a CSIS podcast on Saturday that Trump has confidence in his ability to restart North Korea negotiations through his personal diplomacy at the right moment. Seiler added that current conditions appear favorable for a potential relationship reset between Trump and Kim. Seiler explained that Trump's references to Kim as a 'Nuclear Power' aim to signal respect rather than treating North Korea as defeated. However, he emphasized that Russia has significantly reduced U.S. leverage. 'Vladimir Putin and Kim Jong Un have laid a pathway for a protracted period of not needing to talk to the United States,' Seiler said. 'What could Donald Trump give Kim Jong Un that he's not getting from Vladimir Putin? I can't think of much.'" When discussing the impact of South Korea's upcoming June 3 presidential election on U.S.-North Korea relations, Seiler suggested there would be continuity in approach regardless of the election outcome. He highlighted how both the Obama and first Trump administrations prioritized the alliance with South Korea, avoiding "Korea passing" scenarios that could create tensions. Seiler cautioned that while South Korean conservative and progressive administrations differ in their North Korea approach, Pyongyang's behavior likely wouldn't change significantly based on which political camp wins. He warned progressives against expecting a simple return to the diplomatic climate of 2018 to 2019, emphasizing that current challenges in inter-Korean relations stem from North Korea's own decisions rather than the Yoon administration's policies. 2025-05-03 10:59:51
  • Hair transplant costs vary up to 15-fold across South Korea
    Hair transplant costs vary up to 15-fold across South Korea SEOUL, May 02 (AJP) - The cost of hair transplants in South Korea differs dramatically depending on the region, with prices for a single hair follicle transplant varying as much as 15-fold, according to government data released Friday. Figures obtained by Rep. Kim Mi-ae of the ruling People Power Party from the Health Insurance Review and Assessment Service show that in 2024, Gwangju Metropolitan City recorded the highest average cost per follicle at 21,000 won, or roughly $15.70. In stark contrast, the same procedure cost just 1,400 won, or about $1.05, in Incheon. Hair transplants are not covered under South Korea’s national health insurance, leaving patients to shoulder the full cost — a factor that may contribute to the wide price disparities. In Seoul, the average cost per follicle was 4,223 won, while neighboring Gyeonggi Province reported an average of 3,667 won. Prices in other cities ranged from 8,380 won in Daegu to 1,800 won in Daejeon. Rural areas also exhibited variation: South Gyeongsang Province averaged 2,500 won per follicle, while North Jeolla and North Chungcheong Provinces reported averages of 2,393 won and 1,500 won, respectively. The gap widened further for larger procedures involving 2,000 follicles or more. Seoul had the highest average cost for such transplants at 6.85 million won, followed closely by Busan (6.79 million), Gwangju (6.5 million), and Incheon (6.2 million). At the other end of the spectrum, Sejong reported an average cost of just over 2.13 million won — the only region where such procedures fell below the 3 million won mark. “Hair transplants have become increasingly common, but the wide regional disparities in cost are causing confusion among patients,” said Rep. Kim, a member of the National Assembly’s Health and Welfare Committee. “Even if these procedures are not insured, there needs to be more price consistency to help people make informed decisions. The Ministry of Health and Welfare must implement policies to promote transparency and standardization.” 2025-05-02 15:35:37
  • Koreas inflation holds steady in April, driven by food prices
    Korea's inflation holds steady in April, driven by food prices SEOUL, May 02 (AJP) - Consumer prices in South Korea rose 2.1 percent in April from a year earlier, marking the fourth consecutive month of inflation hovering in the 2 percent range, according to data released Friday by Statistics Korea. The consumer price index (CPI) reached 116.38, based on the 2020 baseline of 100. April’s figure extends a trend that began in January, when inflation climbed back to 2.2 percent after four months of remaining below 2 percent. Processed food prices jumped 4.1 percent, contributing 0.35 percentage points to the overall inflation rate. Officials attributed the uptick to the delayed impact of a weakened won late last year, which has made imported raw materials more expensive. In contrast, petroleum product prices fell 1.7 percent, reflecting recent declines in global oil markets. Prices for agricultural, livestock and fishery goods rose 1.5 percent, with particularly sharp increases in seafood and meat. Core inflation — which excludes food and energy prices in line with the standards of the Organization for Economic Cooperation and Development — rose 2.1 percent, reentering the 2 percent range for the first time in seven months. An alternative core measure, which excludes volatile agricultural and petroleum products, climbed 2.4 percent. Service prices also increased by 2.4 percent. Meanwhile, the fresh food index — a barometer of costs at the dining table — declined 1.9 percent, suggesting some relief in volatile perishable food prices. The living necessities index, which tracks 144 frequently purchased items with a high share of household spending, rose 2.4 percent from a year earlier, unchanged from March. The figure signals persistent price pressure on everyday essentials, outpacing headline inflation. 2025-05-02 14:48:05
  • Leadership vacuum in S. Korea raises concerns over economic stability
    Leadership vacuum in S. Korea raises concerns over economic stability SEOUL, May 02 (AJP) - Concerns over South Korea’s economic leadership are intensifying following the abrupt resignation of Deputy Prime Minister and Finance Minister Choi Sang-mok, who stepped down Thursday in a bid to avoid impeachment. His departure threatens to unsettle foreign investors and undermine Seoul’s credibility as it navigates rising domestic uncertainty and mounting trade pressure from the United States. Choi, a key figure in maintaining policy continuity during a period of political turmoil, leaves at a precarious moment. Choi and his economic team had played a central role in assuaging concerns from global finance leaders. He worked to reassure foreign investors, finance ministers, and credit rating agencies that South Korea’s institutions remained intact and functional despite the political upheaval. But Choi’s resignation has reopened questions about Seoul’s ability to sustain that stability. Analysts warn that the move could erode investor confidence and complicate future assessments from rating agencies, which consider political cohesion a key element of economic credibility. S&P had previously cautioned that persistent political fragmentation could weaken the next administration’s ability to implement economic reforms. The implications of Choi’s exit extend beyond financial markets. He had been a leading figure in negotiations with Washington over a wide-ranging framework designed to resolve disputes over tariffs and strengthen cooperation on economic security, investment, and currency policy. The talks, conducted alongside U.S. Treasury Secretary Scott Bessent, were seen as critical to averting a potential trade rift. Although Trade Minister Ahn Duk-geun will continue to lead discussions on trade, observers say Choi's absence could leave Seoul at a disadvantage in the months ahead. In a brief farewell statement, Choi expressed regret over his departure. “I am sorry to the public that I am unable to continue performing my duties at a time when domestic and international economic conditions are so grave,” he said. Kim Beom-seok, the First Vice Finance Minister, will assume Choi’s responsibilities, albeit with less authority. 2025-05-02 13:57:49
  • Shinsegae reshaping how Koreans shop, dine — and live
    Shinsegae reshaping how Koreans shop, dine — and live Editor's Note: This article is the 16th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, May 01 (AJP) - The headquarters of South Korea’s Shinsegae Group, located in Seoul’s Sogong-ro, rises as a monument to nearly a century of retail evolution. Once a single department store, the company has grown into a sprawling lifestyle conglomerate that is redefining how Koreans eat, shop and spend their leisure time. Founded in 1965 by Lee Byung-chul — also the founder of Samsung — Shinsegae can trace its lineage to the country’s first department store, opened in 1930. Today, the company’s reach extends across discount supermarkets, e-commerce, luxury fashion, restaurants and even entertainment. Led by Chairwoman Lee Myung-hee and her daughter, Vice Chairwoman Chung Yoo-kyung, Shinsegae has undergone a transformation that industry observers describe as one of South Korea’s most ambitious corporate reinventions. Under their leadership, the company has evolved from a traditional retailer into what it now calls a “lifestyle platform” — a seamless fusion of online and offline services that aims to anticipate and shape consumer behavior. Its portfolio includes premium department stores, E-mart discount chains, the integrated e-commerce platform SSG.com, and Shinsegae Food’s restaurant and catering services. Shinsegae International, its fashion and beauty arm, oversees a growing roster of domestic and imported brands. In 2024, its flagship Gangnam department store generated annual revenue exceeding 3 trillion won, or roughly $2.2 billion. Shinsegae’s story is one of continual reinvention. Originally known as Donghwa Department Store, it rebranded in 1963 and began importing Western retail innovations such as fixed pricing and credit card acceptance — then revolutionary ideas in Korea. In 1991, the company formally split from Samsung Group, allowing it to double down on retail operations. Two years later, it launched E-mart, the country’s first discount big-box store, ushering in a new era of mass retail. Leadership has been central to its evolution. Lee Myung-hee, daughter of the founder, emphasized trust, integrity and long-term relationships as pillars of the company’s culture. In 2009, her son Chung Yong-jin, now Vice Chairman, took de facto control and steered Shinsegae toward digital transformation. Under Chung, the company has pursued what it calls the “Shinsegae Universe” — a connected ecosystem where online and offline experiences converge. SSG.com, which unites Shinsegae Department Store, E-mart, and Starbucks Korea under a single loyalty program, is a core pillar. Live-stream shopping events with YouTube influencers like Calmdownman have become a popular driver of online sales. In brick-and-mortar retail, Shinsegae has leaned into luxury and experiential shopping. Its Gangnam store, the nation’s top-grossing department store, is undergoing a major renovation to transform its 19,800-square-meter food court into what it claims will be “the world’s largest premium food theme park” by late 2025. Other attractions include “Sweet Park,” an immersive dessert-themed space that drew 12 million visitors in a year, and cultural tie-ins with Netflix’s Squid Game and K-pop groups like Seventeen. While Lotte and Hyundai remain formidable competitors — Lotte still leads in department store market share — Shinsegae holds a strong second with 31.7 percent as of 2024. E-mart, with roughly 160 stores nationwide, remains South Korea’s top discount chain. Its “No Brand” line of affordable private-label goods has proven especially popular amid inflation and economic uncertainty. In Southeast Asia, Shinsegae is expanding No Brand’s presence in countries like Laos. International growth is another key focus. Shinsegae International is pushing K-beauty and fashion brands into Europe and the Middle East. In China, the group is pursuing a strategy of acquiring local firms for easier market entry. Meanwhile, Shinsegae is reportedly exploring a joint venture with Alibaba to boost its global e-commerce reach and considering international expansion for Starbucks Korea, in which it holds a controlling 67.5 percent stake. The road ahead is not without obstacles. Global discount platforms like AliExpress and Temu are intensifying price competition. Korea’s shrinking population and aging demographics pose long-term challenges to domestic growth. And as Shinsegae expands its AI-driven personalization tools, questions around data privacy and cybersecurity have grown more urgent. To mitigate risks and seize new opportunities, Shinsegae is developing blockchain-based security systems and a global iteration of its No Brand offering. By 2035, the group envisions building its own logistics hubs in Southeast Asia and the Middle East, exporting K-culture through immersive “Korean Wave” entertainment complexes abroad, and expanding into healthcare and finance through a unified digital platform. “Our goal is not just to sell products,” Chung said recently. “It’s to innovate until customers are afraid not to shop with us.” If Shinsegae succeeds, it won’t just be South Korea’s top retailer — it may become one of Asia’s most influential cultural forces. 2025-05-02 09:38:55
  • Han Duck-soo resigns as acting president to join presidential race
    Han Duck-soo resigns as acting president to join presidential race SEOUL, May 01 (AJP) - Han Duck-soo, South Korea’s acting president and prime minister, announced his resignation on Thursday, clearing the way for a likely run in the June 3 presidential election. “I am now stepping down from my duties as acting president and prime minister," Han said in a nationally televised address from the central government complex in Seoul. Han is expected to formally declare his presidential bid as early as Friday. He had served as acting president since Dec. 14, when President Yoon Suk Yeol was impeached by the National Assembly over Yoon's declaration of martial law. Han's resignation comes after 139 days in the role. Deputy Prime Minister and Finance Minister Choi Sang-mok will assume the acting presidency for the remaining 33 days until a new president is sworn in on June 4. 2025-05-01 16:29:27
  • Supreme Court reverses acquittal of top presidential contender Lee Jae-myung
    Supreme Court reverses acquittal of top presidential contender Lee Jae-myung SEOUL, May 01 (AJP) - South Korea’s Supreme Court on Thursday overturned a lower court’s acquittal of Lee Jae-myung, the opposition leader and a top contender in the upcoming presidential race, sending the case back for retrial with instructions that Lee be found guilty of spreading false information. The case stems from comments Lee made during the 2021 presidential campaign. He had denied playing golf overseas with the late Kim Moon-ki, a former executive at the Seongnam Development Corporation, and claimed that he received "threats" from the Ministry of Land, Infrastructure and Transport as Seongnam City was undertaking a controversial land development in Baekhyeon-dong. The court ruled both statements to be false. Lee, who narrowly lost the last presidential election to Yoon Suk Yeol in 2021, is again a leading candidate for the June 3 election, triggered by the impeachment of Yoon. While the court’s decision revives legal troubles that have dogged his campaign, it is unlikely to disqualify him before the election, as the retrial and possible appeals could stretch well beyond election day. However, the ruling is expected to intensify scrutiny of his candidacy as the election nears. The ruling was handed down with 10 of the Supreme Court’s 12 justices voting to overturn the appeals court’s acquittal, while two dissented. In November, a lower court sentenced Lee to one year in prison, suspended for two years, after finding that some of his statements during the campaign constituted false information under the Public Official Election Act. But in March, an appellate court reversed the conviction, calling the remarks "political opinions" rather than factual claims. The Supreme Court’s decision means the Seoul High Court must now rehear the case. A final decision may ultimately require a second review by the Supreme Court. Lee has denied any wrongdoing and framed the charges as politically motivated. 2025-05-01 16:10:15
  • Prosecutors bring additional charges against Yoon Suk Yeol
    Prosecutors bring additional charges against Yoon Suk Yeol SEOUL, May 01 (AJP) - Prosecutors on Thursday filed additional charges of abuse of power and obstruction of rights against former President Yoon Suk Yeol, who is already standing trial on charges of leading a rebellion related to the Dec. 3 martial law declaration. The prosecution's special investigation team, led by Park Se-hyun, chief prosecutor at the Seoul High Prosecutors’ Office, said the new charges were added following a supplementary investigation. Yoon, who was indicted on January 26 while still in office, was initially charged only with leading a rebellion — a crime not covered by presidential immunity under South Korea’s Constitution. He was detained at the time but later released after a controversial decision by Judge Ji Gyi-yeon, allowing him to stand trial without being held in custody. After Yoon was removed from office by the Constitutional Court, prosecutors expanded their investigation, leading to Thursday’s additional charges. Opposition parties have repeatedly called for his re-arrest. 2025-05-01 14:15:30
  • Trump Jr. holds series of one-on-one meetings with Korean CEOs
    Trump Jr. holds series of one-on-one meetings with Korean CEOs SEOUL, April 30 (AJP) - Donald Trump Jr., the eldest son of U.S. President Donald Trump, held a series of private meetings with prominent South Korean business executives on Wednesday at Josun Palace Hotel in southern Seoul. The meetings, held in a secured area of the luxury property, began early in the morning in the same building that houses the office of Jung Yong-jin, the chairman of Shinsegae Group, who played a key role in organizing the junior Trump's visit. Among those seen at the site were Hanwha Group President Kim Dong-won and Vice President Kim Dong-seon, who were spotted at a coffee shop on the first floor around 8:45 a.m. after reportedly concluding their meeting. Naver Chairman Lee Hae-jin and GS Energy President Heo Yong-soo also visited the building for discussions with Trump Jr., though the exact timing and details of the meetings were not disclosed. Despite a contingent of reporters stationed near the building’s main entrance, none of the executives were observed entering or exiting through the front doors. Outside, a yellow banner welcoming Trump to South Korea, erected by conservative groups the previous day, was visible along the sidewalk. Trump arrived in South Korea on Tuesday evening aboard a chartered flight. Upon arrival, he proceeded directly to Jung’s private residence for a dinner meeting that lasted approximately two hours. Jung, who is said to have a longstanding friendship with Trump, had invited him to Seoul after receiving appeals from South Korean business leaders seeking to establish informal ties with the Trump circle, according to industry sources. Jung was expected to remain at his office throughout the day to support the meetings and was scheduled to have lunch and dinner with Trump. Security was notably tight, with access to the meeting areas strictly limited. While about 180 police officers had been deployed on Tuesday amid a demonstration by roughly 50 conservative activists, no protests were reported on Wednesday morning. 2025-04-30 16:36:55
  • Samsung Electronics posts record revenue in first quarter
    Samsung Electronics posts record revenue in first quarter SEOUL, April 30 (AJP) - Samsung Electronics posted its highest-ever quarterly revenue in the first quarter of 2025, bolstered by strong smartphone and premium appliance sales. The company reported consolidated revenue of 79.14 trillion won, or about $59.1 billion, a 4 percent increase from the previous quarter. Operating profit rose to 6.7 trillion won, or $5 billion. Samsung also invested a record 9 trillion won ($6.7 billion) in research and development during the period, underscoring its commitment to long-term growth despite volatile market conditions. The company's Device Experience (DX) division led the performance, with revenue climbing 28 percent quarter-over-quarter. Strong sales of flagship smartphones, particularly the Galaxy S25 series, along with an expanded lineup of high-value home appliances, helped drive the division’s gains. The Mobile Experience business recorded robust double-digit profitability, benefiting from solid device momentum, lower component costs, and operational efficiencies. The semiconductor-focused Device Solutions (DS) division reported revenue of 25.1 trillion won and an operating profit of 1.1 trillion won, though sales declined 17 percent from the previous quarter. Server DRAM demand expanded and NAND prices showed early signs of recovery, but High Bandwidth Memory (HBM) sales were hindered by semiconductor export controls. Samsung Display Company recorded revenue of 5.9 trillion won and an operating profit of 0.5 trillion won. Performance in small display panels weakened due to seasonal factors, but the large display segment showed improvement, supported by the introduction of new QD-OLED monitors for major customers. Harman, Samsung’s automotive and audio technology subsidiary, maintained year-over-year growth despite entering a seasonally slower period, posting revenue of 3.4 trillion won and operating profit of 0.3 trillion won, buoyed by a refined product portfolio. Looking ahead to the second quarter, Samsung anticipates a seasonal decline in smartphone demand but will focus on sustaining flagship sales, including its Galaxy S25 Edge model. The Visual Display business plans to launch its 2025 lineup of AI-powered televisions globally, while the home appliance division will target peak-season demand with new Bespoke AI products and air conditioners. For the second half of the year, Samsung is betting on the growing demand for AI server memory, aiming to expand sales of its 12-layer HBM3E and high-capacity DDR5 modules. It also plans to address the emerging trend of on-device AI with the rollout of its 10.7Gbps LPDDR5x technology. 2025-04-30 14:01:37