Journalist
김혜준(Candice Kim)
candicekim1121@ajupress.com
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LG Electronics to supply OLED monitors for Hyundai's N racing simulators SEOUL, May 11 (AJP) - LG Electronics (LGE) announced Monday it will supply high-end OLED monitors for Hyundai Motor’s high-performance "Hyundai N Racing Simulator," expanding its display business into the virtual driving sector. Under the partnership, LG will provide the 65-inch LG OLED Pro monitor for the "Pro" simulator model and 65-inch OLED TVs for the "Racer" model. The professional-grade OLED Pro features 4K resolution and a specialized interface designed to transmit high-capacity data without compression, ensuring stable performance for high-definition virtual environments. The monitors are equipped with self-calibration tools and optimization features that maintain uniform brightness and color accuracy, according to the company. While LG’s OLED Pro series has primarily been utilized in broadcasting and film production, this collaboration marks a strategic push to diversify its client base into the simulation market. The move aligns with LGE's broader strategy to leverage its OLED and signage competitiveness to secure bespoke business opportunities across various industrial fields. 2026-05-11 16:46:57 -
LVMH chair inspects shops in Korea amid weakening sales SEOUL, May 11 (AJP) - Bernard Arnault, chairman and CEO of French luxury titan LVMH, arrived in Seoul on Monday for an intensive inspection of the South Korean market as the world’s largest luxury group faces slowing global momentum and weaker growth in Korea relative to rival luxury houses despite the country’s continued luxury boom. Accompanied by his eldest daughter, Delphine Arnault, CEO of Christian Dior Couture, the LVMH chief’s visit comes at a pivotal moment when the group’s global sales have stagnated amid softening demand in China and the United States. The visit began at Shinsegae Department Store’s flagship store in central Seoul at 12:30 p.m., where Arnault was greeted by Shinsegae CEO Park Joo-hyung. Although the department store was closed for its regular holiday, Arnault spent time closely inspecting the exterior and storefront displays of “Louis Vuitton Visionary Journeys Seoul,” the six-story experiential complex that serves as the brand’s largest retail location globally. Rather than focusing solely on retail traffic or VIP lounges, Arnault’s attention centered on the physical presentation and experiential environment of the flagship, underscoring LVMH’s push toward “destination retail” that blends architecture, exhibitions, dining and brand storytelling. Arnault’s direct oversight of the Seoul flagship highlights the strategic importance LVMH places on South Korea, one of the few luxury markets still posting robust growth despite mounting concerns over a global sector slowdown. While LVMH’s global sales growth slowed to 1 percent last year, Louis Vuitton Korea posted record revenue of 1.85 trillion won ($1.36 billion) in 2025, up 6.1 percent from a year earlier, while operating profit surged 35 percent to 525.6 billion won. Yet LVMH’s Korean growth has increasingly lagged behind some rival luxury houses that continue to post stronger momentum in the country’s polarized luxury market. Chanel Korea surpassed the 2 trillion won revenue mark for the first time last year, with sales rising 9 percent to 2.01 trillion won and operating profit climbing 25 percent to 336 billion won. Hermès Korea also reported standout growth, with revenue increasing 16.7 percent to 1.13 trillion won and operating profit rising 14.6 percent to 305.5 billion won. The contrast has become even more pronounced within LVMH’s own portfolio, particularly at Dior, once grouped among Korea’s so-called “EruSha” trio of Hermès, Louis Vuitton and Chanel. According to regulatory filings, Christian Dior Couture Korea posted revenue of 773.9 billion won last year, down 18.1 percent from a year earlier, while operating profit plunged 43 percent to 129.2 billion won. The brand had already suffered declines in 2024, marking two consecutive years of falling sales and earnings while competitors continued delivering record performances. Arnault plans to make stops at Lotte Department Store, and luxury industry will be closely watching whether Seoul will further shape LVMH’s evolving blueprint for experiential retail in one of the world’s most competitive and polarized luxury markets. 2026-05-11 15:16:56 -
Samsung Electronics labor talks begin under government mediation SEOUL, May 11 (AJP) - Samsung Electronics and its union began two days of intensive talks Monday under government mediation in a bid to avert a full-scale strike planned for next week, though prospects for a breakthrough remained uncertain as both sides held firm on bonus demands tied to the semiconductor boom. Speaking before a post-mediation session at the National Labor Relations Commission in central Seoul, SELU Chairman Choi Seung-ho said the union stood by its demand to allocate 15 percent of Samsung Electronics’ operating profit to employee bonuses and abolish bonus caps through a formalized system. “We continue to demand a 15 percent operating profit-based bonus system and the abolition of the ceiling,” Choi told reporters. “If the company has no position on institutionalizing this, we believe mediation will not be possible even today.” Choi accused management of failing to honor previous promises to reserve earnings during profitable years and use them to cushion compensation during downturns. “The company previously said it would accumulate profits during good years and use them to support workers during deficit periods, but it failed to keep that promise,” he said. “Simple written wording is no longer enough for us to trust. We are looking for a clearly institutionalized framework.” At the same time, Choi signaled limited room for compromise, saying the union would consider its stance if the company presents a “forward-looking change.” The union also reaffirmed that it would not discuss creating a company-wide shared bonus pool for non-semiconductor divisions during the current negotiations, despite rising internal tensions over widening compensation gaps between chip workers and employees in other business units. Asked whether disagreements within the labor coalition over the issue had been resolved, Choi said the union could not reverse a position already jointly agreed upon by the three participating labor groups. “We do not want to create controversy over insincere bargaining,” he said. “Our direction remains unchanged.” He added that the union, now legally recognized as Samsung Electronics’ majority labor organization, plans to actively review the broader shared-fund issue next year. The SELU, which has more than 40,000 members, has threatened an 18-day general strike beginning May 21 after wage negotiations broke down over bonuses tied to the AI-driven semiconductor supercycle. The standoff comes as Samsung Electronics races to narrow the gap with rival SK hynix in high-bandwidth memory chips used in artificial intelligence servers, heightening concerns that any disruption at semiconductor fabrication lines could hit output at a sensitive moment for the global AI supply chain. 2026-05-11 11:30:14 -
LVMH chief Bernard Arnault to visit Seoul for first time in three years SEOUL, May 09 (AJP) - Bernard Arnault, chairman and CEO of French luxury giant LVMH, is set to arrive in Seoul on Monday for his first visit to South Korea in three years, according to industry sources on Saturday. The visit comes as South Korea continues to solidify its position as a "key strategic market" for global luxury houses. While luxury sales in Europe and Japan have softened amid a global cooling of high-end demand—and Middle Eastern markets have seen a downturn due to regional conflicts—the South Korean market has remained exceptionally resilient. Industry insiders noted that Hermès, Louis Vuitton, and Chanel—all reported record-breaking performance in Korea last year despite the global economic slowdown. During his stay, Arnault is scheduled to visit the Shinsegae Department Store’s flagship outlet in central Seoul on May 11 to inspect "Louis Vuitton Visionary Journeys Seoul". The sprawling six-story experiential space stands as the brand's largest retail location in the world. Arnault is also expected to tour major luxury hubs at Lotte Department Store and Shinsegae Gangnam to review local operations. The LVMH chief’s return follows a 2023 trip where he met with top South Korean business leaders, including Lotte Group Chairman Shin Dong-bin. The timing is particularly notable as Arnault is expected to tour the Shinsegae flagship on a day the store is closed to the public, allowing for an uninterrupted inspection of the site's high-end dining and cultural facilities. 2026-05-09 18:15:10 -
Musinsa's foreign sales hit record high during Northeast Asian 'Golden Holiday' SEOUL, May 09 (AJP) - South Korean fashion platform Musinsa saw its offline sales from foreign tourists reach a record high during the recent "Northeast Asian Golden Holiday," as Japanese and Chinese vacation periods coincided to drive a surge in inbound shopping. According to data released by the company on Friday, sales from foreign customers at 12 of its global-focused stores—including Musinsa Standard and Musinsa Store—rose more than 30 percent between April 29 and May 5 compared to the previous week. The period saw a rare overlap of Japan’s Golden Week (April 29–May 6) and China’s Labor Day holiday (May 1–5). The growth was most pronounced in Seoul’s Seongsu district, a rising shopping hub for international tourists. Combined sales at the Musinsa Standard Seongsu and Musinsa Store Seongsu boutique surged 41 percent week-on-week, fueled by an influx of overseas visitors. For the first time, foreign nationals accounted for more than half of the total revenue at these 12 strategic locations, reaching 53 percent of the total sales mix. The Musinsa Store in Myeongdong recorded the highest international presence, with over 70 percent of its revenue generated by foreign shoppers. Other locations in Hannam, Hongdae, and Seongsu also reported foreign sales shares exceeding 60 percent. Industry analysts attribute the performance to a growing global preference for K-fashion and beauty, coupled with Musinsa's curation of local brands that appeal to independent travelers seeking "hip" South Korean lifestyle experiences. To capitalize on the holiday peak, the platform partnered with Japan’s largest fashion platform, ZOZOTOWN, and China’s WeChat Pay to offer targeted discounts and point-based incentives. “The alignment of major holidays in Korea, China, and Japan drew a concentrated number of global customers to our offline spaces,” a Musinsa official said. “We plan to continue strengthening our online-to-offline marketing and curation to ensure international tourists can experience the latest South Korean fashion trends.” The company is currently running its "On & Off Festival" across all offline locations through May 10, offering exclusive discounts to both domestic and international shoppers. 2026-05-09 15:20:24 -
S. Korea, U.S. coordinate investment pipeline ahead of new trade law launch SEOUL, May 09 (AJP) - South Korean Trade Minister Kim Jung-kwan met with U.S. Commerce Secretary Howard Lutnick on Saturday to finalize the details of major investment projects slated for rollout under a landmark bilateral investment framework. The meeting, held in Washington, follows the recent signing of a memorandum of understanding on the "MASGA" shipbuilding initiative. However, the talks between the two chiefs focused more broadly on the implementation of South Korea’s "Special Act on Strategic Investment Management," which is set to take effect on June 18. The legislation serves as the domestic legal foundation for Seoul’s $350 billion U.S. investment pledge, a strategic commitment made last year to secure a 15 percent tariff rate on South Korean exports. Minister Kim’s visit aimed to concretize the first batch of projects to be officially designated under this new law. During his stay in Washington, Kim addressed speculation regarding the first major project under the initiative. While a liquefied natural gas (LNG) export terminal in Louisiana has been cited as a primary candidate, Kim told reporters it was "too early to confirm" whether it would be the official "No. 1" project, though he acknowledged it remains under active consideration. The high-level coordination comes at a critical time as South Korea seeks to navigate Washington’s evolving trade policies. While recent U.S. court rulings have challenged some of President Donald Trump’s tariff mechanisms, Seoul remains focused on industrial partnerships as a hedge against potential Section 301 investigations and broader trade friction. The discussions also touched upon the upcoming establishment of the Korea-U.S. Shipbuilding Partnership Center, which will serve as a hub for the $150 billion maritime portion of the investment package. “The focus of this meeting was to ensure that our investment pipeline is fully operational the moment the special act takes effect next month,” a ministry official said. “We are moving from the stage of high-level agreements to the practical execution of projects that will reinforce the bilateral economic alliance.” Minister Kim is expected to continue consultations with other U.S. trade officials, including the Office of the U.S. Trade Representative (USTR), to discuss ongoing tariff and trade environment issues before returning to Seoul. 2026-05-09 12:54:16 -
'The King's Warden' dominates 62nd Baeksang Arts Awards with grand prize win SEOUL, May 09 (AJP) - The historical blockbuster "The King's Warden" swept the 62nd Baeksang Arts Awards on Friday, with lead actor Yoo Hae-jin securing the Grand Prize (Daesang) in the film category. The film, which recently became the second highest-grossing South Korean production of all time with 16.8 million admissions, took home four awards at the ceremony held at COEX in Seoul. Beyond the night’s top honor, the production earned the Gucci Impact Award, while co-star Park Ji-hoon won both Best New Actor and the Naver Popularity Award. “I want to thank the nearly 17 million moviegoers who chose to see this film,” Yoo said in his acceptance speech. “It is rewarding to see that the distinct appeal of the theatrical experience remains as strong as ever.” The film’s success was mirrored in the television category by actor Ryu Seung-ryong, who won the Grand Prize for his role in the JTBC drama The Dream Life of Mr. Kim. The simultaneous wins for Yoo and Ryu drew significant attention as the two have remained close friends since their days as struggling theater actors three decades ago. Other top honors included Park Chan-wook’s No Other Choice for Best Film and the Netflix series Eunjung and Sangyeon for Best Drama. Individual acting accolades went to Hyun Bin for his role in Made in Korea and Park Bo-young for Unknown Seoul. Established in 1965, the Baeksang Arts Awards is considered one of South Korea's most prestigious honors in entertainment, recognizing excellence across film, television, and theater. 2026-05-09 11:01:31 -
BTS draws 65,000 fans in triumphant Mexico City return after decade-long hiatus SEOUL, May 09 (AJP) - K-pop giant BTS made a long-awaited return to Mexico City on Friday, performing before a sold-out crowd of 65,000 at the Estadio GNP Seguros. The concert marked the group's first appearance in the Mexican capital since 2017, ending a nearly decade-long wait for local fans. The performance opened with "Hooligan," a track from their latest album Arirang, instantly energizing a stadium situated 2,240 meters above sea level. The setlist showcased a deliberate fusion of contemporary pop and traditional Korean heritage, as the audience joined in a massive sing-along of the folk anthem "Arirang" during the performance of "Body to Body." Fans also delivered synchronized chants for the group's global hits, including the 2018 smash "Fake Love" and their recent Billboard-topping single "Swim." The scale of the event extended beyond the stadium walls, with thousands of fans who were unable to secure tickets gathering outside the venue. Within the arena, the atmosphere remained electric as members addressed the crowd in Spanish, expressing their gratitude for the enduring support despite the long absence. Member Suga noted the overwhelming energy of the crowd, apologizing for the ten-year gap between visits and promising a more frequent presence in future tours. The two-hour show concluded with an emotional rendition of "Hold Me Tight," a 2015 track that fans sang in clear Korean while holding placards urging the group to return. The group is scheduled to perform two more sold-out shows at the same venue on May 10 and 11, completing a three-day residency that underscores their significant cultural and commercial footprint in Latin America. “We definitely realized tonight that we must make Mexico a mandatory stop on our next tour,” the members told the crowd before the final curtain. “Te amo, Mexico City.” 2026-05-09 10:17:15 -
SK hynix pledges 'water positive' future starting with salmon route fix SEOUL, May 08 (AJP) - South Korean chipmaker giant SK hynix inc. has signed a multilateral agreement with the government and local authorities to restore the aquatic ecosystem of Namdaecheon Stream, a move aimed at reviving the country’s largest salmon spawning ground. Under the "Water Positive" initiative, the memory chipmaker will cooperate with the Ministry of Climate, Energy and Environment and the Gangwon provincial government to modernize aging weirs that have long obstructed salmon migration. The strategy focuses on returning more water to natural sources than the company consumes during its industrial operations, reflecting an shift toward corporate water stewardship. The restoration project, scheduled to run from 2026 through 2037, focuses on securing consistent water flow and upgrading deteriorating infrastructure to ensure a clear return path for migratory species. Namdaecheon has faced ecological challenges in recent years as outdated barriers and altered currents prevented salmon from reaching their native spawning sites. Beyond the ecological impact, the partnership is expected to bolster the regional economy by enhancing local tourism and improving the riverside environment for residents. This collaboration marks a shift toward a public-private model where corporate resources are directly integrated into national environmental conservation policies. “This project illustrates how corporate water management can serve as a tool for shared growth with both nature and local communities,” said Lee Byung-ki, Chief Production Officer at SK hynix. “We will continue to pursue sincere activities to protect water resources moving forward.” 2026-05-08 17:15:18 -
Samsung Elec management, union to sit down at govt mediation SEOUL, May 08 (AJP) - Samsung Electronics and its union agreed to meet next week to iron out differences and possibly avert a full-scale strike scheduled for May 21, after the South Korean government stepped in amid fears that labor unrest could undermine a key pillar sustaining the economy and the stock market rally. The Samsung Electronics Labor Union (SELU) announced Friday it will enter a formal "post-mediation" process, with intensive negotiations scheduled for May 11 and 12. The breakthrough came after a meeting earlier Friday between union leadership and the head of the Gyeonggi Regional Employment and Labor Office. During the meeting, the government "strongly recommended" mediation and promised full support to facilitate a resolution, the union said in a statement. Despite agreeing to the talks, the union maintained its hardline stance, noting that it will continue preparations for the planned walkout. "If a satisfactory outcome is not reached, we will not hesitate to launch a general strike," SELU Chairman Choi Seung-ho said in the statement. Management welcomed the resumption of talks. When asked earlier if the company would participate in a post-mediation process should the union agree, a Samsung Electronics official indicated readiness to engage. "Reaching a settlement is naturally preferable to a strike for the company, so there would be no reason to refuse," the official said. The intervention follows increasingly pointed remarks from President Lee Jae Myung, a former factory worker who has traditionally maintained labor-friendly credentials but has recently emphasized balancing workers’ rights with economic stability. “If organized workers make excessive or unreasonable demands, they will face public criticism and ultimately harm the broader workforce,” Lee said during a meeting with senior aides on April 30. Although he did not name any company, industry observers widely interpreted the remarks as a warning directed at the Samsung union as labor tensions intensified over bonuses and compensation tied to the semiconductor boom. Labor Minister Kim Young-hoon reinforced the message during a separate meeting with regional labor officials. “The achievements of Samsung Electronics were made possible by the dedication of its workers, but we cannot deny the role of countless suppliers, government support and R&D investment,” Kim said. The government’s unusual intervention reflects the outsized importance of Samsung Electronics to the South Korean economy. Semiconductors account for roughly one-fifth of the country’s exports, while Samsung Electronics and its affiliates make up around 20 percent of the KOSPI’s total market capitalization, effectively anchoring the broader market rally. The SELU, now the company’s largest labor organization with more than 40,000 members, has announced plans for an 18-day general strike beginning May 21 after wage negotiations collapsed. The union is demanding that 15 percent of Samsung Electronics’ operating profit be allocated to employee bonuses, arguing workers have not received a fair share of profits generated during the AI-driven semiconductor supercycle. Management has proposed a 10 percent bonus pool alongside additional one-time incentives. The dispute comes as Samsung Electronics is racing to regain ground in high-bandwidth memory (HBM) chips used in artificial intelligence servers, an area where rival SK hynix has recently outpaced Samsung through early supply deals with AI chip leader NVIDIA. Analysts warn that even limited disruptions inside semiconductor fabrication lines can trigger expensive yield losses because chip plants operate around the clock and require uninterrupted ultra-precise processing conditions. Should disruptions escalate into a full production halt, estimated daily losses could climb to as much as 1 trillion won ($730 million), according to industry estimates. Any deterioration in yields or wafer damage would be especially costly as Samsung pushes to expand next-generation HBM shipments amid exploding global AI demand. The confrontation is also exposing widening divisions inside Samsung itself. Employees in consumer electronics and device divisions have increasingly voiced resentment over compensation disparities favoring semiconductor workers, mirroring broader concerns over South Korea’s growing economic dependence on a narrow group of AI-linked exporters. The labor standoff arrives at a politically delicate moment for the Lee administration, which is trying to preserve both labor support and industrial competitiveness as geopolitical instability and technology fragmentation intensify pressure on the export-driven economy. 2026-05-08 16:21:32