Trump exempts smartphones from sweeping tariffs SEOUL, April 13 (AJP) - The Trump administration has granted exemptions on a range of electronic devices, including smartphones and personal computers, from a broad package of reciprocal tariffs — a move that offers significant relief to major global tech firms such as Apple and South Korea’s Samsung Electronics. In a notice published April 12, U.S. Customs and Border Protection said that select categories of electronics — including smartphones, laptops, PCs, servers, and semiconductor equipment — would be excluded from the reciprocal tariffs, which include levies of up to 125 percent on goods imported from China. The exemptions are retroactive to April 5. The decision is expected to ease mounting concerns across the technology industry about the potential for rising consumer prices, given the heavy reliance on Chinese manufacturing for many of the affected products. While President Trump had previously threatened to impose steep tariffs on a wide array of imports, he announced a 90-day suspension of that plan last week. In the interim, the United States has introduced a general global tariff of 10 percent. However, for imports from China, only the newly implemented 125 percent tariffs are affected by the exemption. A separate 20 percent tariff, tied to what the administration has described as China’s role in the U.S. fentanyl crisis, will remain in place. In a statement, White House press secretary Karoline Leavitt said the president remains committed to reducing America’s dependence on Chinese manufacturing, particularly for critical technologies. “President Trump has made it clear America cannot rely on China to manufacture critical technologies, such as semiconductors, chips, smartphones and laptops,” Leavitt said, adding that major tech companies are “hustling to onshore their manufacturing in the United States as soon as possible.” Speaking aboard Air Force One, Trump told reporters that further details on his administration’s strategy for semiconductor tariffs would be announced Monday. 2025-04-13 15:44:52

Criminal trial of Yoon Suk Yeol will begin Monday Former President Yoon Suk Yeol waves to his supporters as he leaves the presidential residence in Yonsan, Seoul, April 11, 2025. Joint Press Corps SEOUL, April 13 (AJP) - The criminal trial of former President Yoon Suk Yeol is scheduled to begin Monday at the Seoul Central District Court. Yoon, who was removed from office by a unanimous ruling of the Constitutional Court on April 4, faces charges of leading an insurrection after attempting to mobilize military forces on Dec. 3. He is the fifth former South Korean president to face a criminal trial. The proceedings are set to open at 10 a.m. As a defendant,Yoon is required to appear in court, where he was allowed to enter through an underground parking lot. The court has banned photography inside the courtroom prior to the start of the session. At the start of the hearing, prosecutors are expected to outline Yoon's charges. He may petition the presiding judge for an opportunity to address the court. If convicted, Yoon could face a life sentence or potentially the death penalty, according to South Korean law. Among the witnesses scheduled to testify are Cho Sung-hyun, a commander of the Capital Defense Command, and Kim Hyung-ki, head of the First Special Forces Battalion of the Special Warfare Command. Both are expected to provide testimony regarding the events of Dec. 3. During Yoon’s impeachment trial earlier this year at the Constitutional Court, Cho testified that he received orders from then-Capital Defense Commander Lee Jin-woo to dispatch troops to forcibly remove lawmakers from the National Assembly. Kim is believed to have been given similar instructions that same evening. 2025-04-13 13:22:40

Hyundai, Kia record highest-ever Q1 sales of 71 trillion won amid looming U.S. tariff challenges SEOUL, April 11 (AJP) - Hyundai Motor and Kia are expected to report combined first-quarter sales of 71.03 trillion won ($48.5 billion) despite U.S. President Donald Trump's 25 percent tariff increase on automobiles, according to automotive and securities industry sources on Thursday. The sales figure represents a 4 percent increase from the same period last year, while operating profit is forecast to reach 6.89 trillion won, down 1.3 percent year-on-year. Hyundai Motor alone is expected to post first-quarter provisional sales of 43.36 trillion won and operating profit of 3.62 trillion won, up 6.6 percent and 1.7 percent respectively compared to the same period last year. Kia's sales and operating profit are projected at 27.67 trillion won and 3.27 trillion won. The strong first-quarter performance is attributed to increased sales of high-profit vehicles such as SUVs and hybrid models, combined with favorable exchange rates. In the United States, consumers rushed to purchase new vehicles before Trump's tariffs on specific automotive products took effect on April 3, significantly boosting March sales. Hyundai and Kia's combined U.S. sales for the first quarter reached 419,912 units, a 10.7 percent increase year-on-year, with March sales hitting a record 172,669 units, accounting for nearly half of the quarterly total. The automotive industry is closely watching how performance will evolve from the second quarter when the impact of U.S. tariffs becomes fully apparent. Securities analysts estimate that Hyundai and Kia could face annual operating losses of 6 trillion won and 4 trillion won respectively due to the 25 percent tariff on imported vehicles, representing approximately 40 percent of Hyundai's and 36 percent of Kia's operating profits from last year. However, the companies have some cushion against cost increases due to the stronger dollar. The average exchange rate for 2025 (1,465 won) is 7.3 percent higher than 2024's average (1,365 won). For every 100 won increase in the dollar exchange rate, Hyundai is estimated to gain 2.5 trillion won in profits while Kia could see 4 trillion won. According to securities industry analysis, this could offset approximately 40 percent of Hyundai's and 80 percent of Kia's cost pressures from tariffs. "The true crisis response capabilities of global automakers will be revealed from the second quarter when the effects of U.S. tariffs fully materialize," said Lim Eun-young, an analyst at Samsung Securities. "With more than 60 percent of their operating profits dependent on the United States, and expected intensified competition with Chinese electric vehicles in other regions this year, the group's fate hinges on its response to the U.S. situation." 2025-04-11 15:03:55

SK chief visits Taiwan to discuss AI semiconductor cooperation with TSMC SEOUL, April 11 (AJP) - SK Group Chairman Chey Tae-won traveled to Taiwan earlier this week to meet with TSMC and other Taiwanese semiconductor companies to discuss cooperation in artificial intelligence (AI) semiconductors, industry sources said on Friday. SK Hynix CEO Kwak No-jung reportedly accompanied Chey on the visit, which marks the chairman's first publicly known trip to Taiwan in 10 months. During his previous visit in June 2024, Chey met with TSMC Chairman Mark Liu and proposed "opening the foundation for an AI era that benefits humanity together," while agreeing to strengthen cooperation between the two companies in the high-bandwidth memory (HBM) sector. SK Hynix had previously signed a memorandum of understanding (MOU) with TSMC in April 2024 for technical cooperation on developing HBM4, the sixth generation of high-bandwidth memory, and enhancing advanced packaging technology capabilities. This latest visit appears to continue discussions on collaboration opportunities in AI and semiconductor technologies with key figures in Taiwan's IT industry. The visit comes as memory manufacturers worldwide are racing to secure their positions in the growing AI semiconductor market, with HBM chips playing a crucial role as they provide the high-speed data processing capabilities required for AI applications. TSMC, as the world's leading semiconductor foundry, is a vital partner for memory manufacturers seeking to advance their high-performance computing solutions. SK Hynix is scheduled to participate in the "TSMC 2025 Technology Symposium" on April 23 in Santa Clara, California, where it plans to showcase its HBM4 and cutting-edge packaging technologies. This event will provide SK Hynix with an opportunity to demonstrate its latest innovations to potential partners and customers in the global semiconductor ecosystem. 2025-04-11 10:36:44

South Korea faces dilemma over Alaska LNG project SEOUL, March 31 (AJP) - Alaska Governor Mike Dunleavy has stepped up efforts to persuade South Korea to participate in his state’s liquefied natural gas (LNG) project, using a recent visit to Seoul to underscore the economic and strategic stakes involved. Speaking to local and international media, Dunleavy framed South Korea’s potential purchase of Alaskan LNG as a pivotal factor in reducing the U.S.-Korea trade deficit, while also presenting the project as an opportunity for Korean firms to supply equipment and materials. His comments hinted at broader geopolitical undercurrents, suggesting that the project’s fate could influence upcoming tariff negotiations between Seoul and Washington. Despite Dunleavy’s overtures, no binding commitments were secured during his visit. Neither South Korean government agencies nor energy companies announced new contracts or agreements related to the $44 billion Alaska LNG project, a venture that remains in its early stages of development. As the world’s third-largest LNG importer, South Korea faces a complex calculus in weighing potential participation. While an investment in Alaskan LNG could strengthen Seoul’s hand in trade negotiations with Washington, it also poses significant financial risks. The project has yet to enter full-scale construction, and uncertainties persist over its investment structure, production costs, and pricing. Industry experts note that past withdrawals by global energy firms — including ExxonMobil and BP — reflect longstanding concerns about profitability and market viability. Even if South Korea were to commit to Alaskan LNG, deliveries would not begin for several years, according to government officials briefed on the matter. The state-owned Korea Gas Corporation (KOGAS) is already reassessing its supply mix following the expiration of long-term contracts with Qatar and Oman, leaving open the question of whether Alaska can fit into Seoul’s evolving energy strategy. Complicating matters further is the political uncertainty in South Korea following the impeachment of President Yoon Suk Yeol. With no clear leadership to steer major policy decisions, officials remain cautious about embarking on a high-stakes overseas energy investment. “For Korea, staying out of the Alaska LNG project raises concerns about trade disadvantages with the U.S., but stepping in carries significant risks,” said an industry source, speaking on the condition of anonymity. “The government and corporate stakeholders will need to carefully weigh their options.” 2025-03-31 16:36:58

Samsung's profit expected to drop again in first quarter, but recovery may be on horizon Samsung Electronics headquarters in Seocho-gu, Seoul/ Yonhap SEOUL, March 31 (AJP) - Samsung Electronics is poised to report another weak earnings result for the first quarter of 2025, marking its third consecutive quarterly decline in operating profit, according to industry analysts, Monday. Consensus estimates compiled by securities firms project that the South Korean technology giant will post an operating profit of 4.77 trillion won ($3.26 billion) for the January–March period. That figure represents a 27.8 percent drop from the same period a year earlier and a 26.6 percent decline from the previous quarter. The anticipated slump underscores ongoing challenges in the company’s semiconductor business. Several domestic brokerages, including LS Securities, Daol Investment & Securities, and IM Securities, forecast an operating loss of between 369 billion and 410 billion won for Samsung's semiconductor division, citing continued weakness in global IT demand and intensifying price competition from Chinese rivals. Sales of high-bandwidth memory (HBM), a key growth area, appear to have declined sharply. LS Securities analyst Cha Yong-ho estimates HBM revenue fell 40 percent quarter-over-quarter to 2.8 trillion won. He attributed the drop to a front-loaded surge in Chinese demand during the fourth quarter of 2024, ahead of new U.S. export restrictions on advanced memory products that took effect in January. Still, some industry watchers suggest the worst may be over. Analysts expect the company’s earnings to bottom out in the first quarter and gradually recover as IT demand rebounds and memory inventories normalize. “We expect Samsung’s earnings to stabilize in the first quarter and begin improving, supported by an early recovery in memory pricing and increased demand from Chinese customers," said Lee Su-rim, an analyst at DS Investment Securities. 2025-03-31 13:50:49

South Korea offers $2 million humanitarian aid to quake-hit Myanmar SEOUL, March 29 (AJP) - The South Korean government has pledged $2 million (approximately 3 billion won) in emergency humanitarian assistance to Myanmar following a powerful earthquake that struck the country on Friday. South Korea's Ministry of Foreign Affairs announced on Saturday that it hopes the aid "will help efforts to save lives in the affected areas." The ministry added that it "will closely monitor the damage situation and consider additional support if necessary." The magnitude 7.7 earthquake hit an area 33 kilometers southwest of Mandalay, Myanmar's second-largest city, causing buildings to collapse and trapping many people under rubble. The powerful tremor has resulted in extensive damage throughout the central region of the country. Meanwhile, the death toll from the earthquake has surpassed 1,000 as recovery efforts continue for a second day. According to AFP, Myanmar's military government issued a statement on Saturday confirming 1,002 deaths and 2,376 injuries related to the disaster. The number of fatalities has increased approximately sevenfold in just one day, up from the 144 deaths initially reported by Myanmar's military leader Min Aung Hlaing. Experts fear the casualty count will continue to rise dramatically as the country's infrastructure and social systems, already weakened by years of civil war, have suffered critical damage from the earthquake. Twelve aftershocks have been recorded so far, further complicating rescue and recovery efforts. 2025-03-29 16:41:12

South Korean airlines expand flights to China and Japan for summer season Incheon International Airport's Terminal 1/ Yonhap SEOUL, March 29 (AJP) - South Korean carriers are collectively increasing their flight operations to China and Japan during the 2025 summer schedule period from March 30 to Oct. 25. According to the Ministry of Land, Infrastructure and Transport and industry sources, airlines will operate 128 routes to these countries, up from 115 last year, as they seek to capitalize on high demand for destinations with relatively lower costs amid high inflation and exchange rates. Korean Air is expanding its Incheon-Fuzhou route from three to four times weekly, bringing its China operations to 90 percent of 2019 levels with 195 weekly flights, while also launching a new twice-weekly Incheon-Kobe route starting April 18. Asiana Airlines began daily flights from Incheon to Chongqing and Chengdu on March 30, increased Incheon-Dalian flights from seven to ten times weekly, and expanded service on several other Chinese routes including Changchun and Changsha. Low-cost carriers are similarly expanding their presence in these markets. Jeju Air will resume operations on routes from Jeju to Xi'an and Hong Kong with two weekly flights each, while increasing its Incheon-Osaka service to 28 weekly flights and doubling Incheon-Matsuyama flights to 14 times weekly. T'way Air is launching new routes to Yanbian from Cheongju and Daegu starting April 21 to 22, with three weekly flights on each route. Jin Air will begin exclusive service to Japan's Ishigaki Island from Incheon on April 3 with five weekly flights, while resuming daily operations on its Busan-Nagoya and Busan-Fukuoka routes. Air Busan is doubling service on its Busan-Yanbian route from three to six weekly flights and increasing Busan-Zhangjiajie flights from four to six times weekly, while restarting twice-weekly service between Busan and Xi'an. Industry experts anticipate continued popularity for these destinations throughout the summer season due to their relatively low inflation and exchange rate burden. Last year, Japan accounted for 28.3 percent (25.14 million passengers) of international flight traffic, while China represented 15.5 percent (13.77 million passengers), ranking them first and second among individual countries. An industry official noted that "Travel demand to China is expected to continue with numerous affordable travel products emerging since the implementation of the visa-free policy for Koreans late last year," adding that Japanese travel demand remains stable despite the rising yen. 2025-03-29 14:15:17

Death toll from South Korean wildfires rises to 70 as flames reignite SEOUL, March 29 (AJP) - The death toll from South Korea's devastating wildfires has climbed to 70 people, according to the Central Disaster and Safety Countermeasures Headquarters on Saturday. The fires have caused 25 deaths, 5 serious injuries, and 24 minor injuries across five cities and counties in North Gyeongsang Province, including Uiseong, Andong, Cheongsong, Yeongyang, and Yeongdeok. In South Gyeongsang Province, wildfires in Sancheong and Hadong resulted in 4 deaths, 5 serious injuries, and 5 minor injuries, bringing the regional casualty count to 14. An additional 2 minor injuries were reported in Ulju, Ulsan, contributing to the total of 70 casualties nationwide. Although fires in North Gyeongsang Province were declared extinguished on March 28 after burning for a week, they reignited overnight in Andong and Uiseong, prompting authorities to resume firefighting operations. Meanwhile, the wildfire in Sancheong, which began on March 21, continues to burn for the ninth consecutive day, with containment at 96 percent as of 6 a.m. on Saturday. 2025-03-29 09:57:42

South Korea, lagging in AI, could become dependent on foreign tech, Chey warns SEOUL, March 28 (AJP) - Chey Tae-won, chairman of both the Korea Chamber of Commerce and Industry and the conglomerate SK Group, cautioned on Friday that South Korea risks becoming an "AI-dependent nation" if it fails to develop its own large language models (LLMs). Speaking at a press conference marking the fourth anniversary of his tenure as chairman of the chamber, Chey assessed South Korea’s current AI capabilities as lagging behind global leaders. “We rank outside the top 10 globally,” he said. “We need LLMs for the future, and we cannot afford to have none of our own.” “If we cannot equip ourselves internally with LLMs, we will become dependent,” Chey warned, underscoring the strategic importance of avoiding reliance on foreign-developed AI systems. LLMs — complex AI systems that learn and reason to interpret and generate human language — have become a key battleground in the global tech race. While American tech companies like OpenAI, Google, and Meta have set the pace, South Korean firms such as Naver and LG are seeking to close the gap by developing their own models. Chey also raised concerns about the country’s manufacturing competitiveness, saying it was no longer as robust as in previous decades. “Strong competitors have already begun to emerge,” he said. Rather than focusing solely on preventing domestic factories from relocating abroad, he urged a shift toward boosting productivity and competitiveness through greater AI integration. “We must reconsider the model of producing goods for export in this land in the same way as before,” he said. 2025-03-28 15:51:39