Journalist

Lee Jung-woo, Kim Yeon-jae
  • U.S. TSMC deal signals more deal-making for Seoul and pledges from chipmakers
    U.S. TSMC deal signals more deal-making for Seoul and pledges from chipmakers SEOUL, January 16 (AJP) - In the tariff deal Seoul and Washington signed last October, South Korea was promised it would not be treated less favorably than Taiwan. But Taiwan’s newly secured tariff exemptions tied to expanded U.S. investment are now forcing Seoul and Korean chipmakers back to the negotiating table with fresh offers. Taiwan’s tariff outcome has been closely watched in Seoul, given the scale of its semiconductor trade with the United States. In last year’s negotiations, South Korea secured a “most-favored treatment” clause, ensuring that any future U.S. semiconductor tariff arrangements with third countries would not place Korea at a disadvantage. That assurance is now being tested. While South Korea and Japan previously agreed to cut reciprocal tariffs from 25 percent to 15 percent in exchange for pledges of $350 billion and $550 billion in U.S.-bound investment, respectively, Taiwan has tied tariff relief more directly to semiconductor capital expenditure. President Donald Trump on Wednesday issued a proclamation imposing additional tariffs of up to 25 percent on certain high-performance artificial intelligence (AI) semiconductors on national security grounds, putting major chip-producing countries, including South Korea, on alert. According to the White House, the measure targets advanced AI chips used across 16 critical infrastructure sectors—such as data centers, defense, communications and energy—but does not apply uniformly. Instead, it is limited to products exceeding specific thresholds for logic operation performance and memory bandwidth, a structure widely interpreted as a “pinpoint tariff” aimed at top-tier accelerators such as Nvidia’s H200 and AMD’s MI325X. The proclamation also carves out broad exemptions for chips used within the United States, including those destined for domestic data centers, research and development, startups, consumer and industrial applications, and the public sector. Analysts say the design effectively shields most U.S.-bound supply while functioning as a de facto export tariff, particularly on shipments to China. Seoul moved swiftly. On Thursday, the government convened emergency meetings with Samsung Electronics and SK hynix, both key suppliers of high-bandwidth memory (HBM) to Nvidia and AMD. Trade Minister Yeo Han-koo extended his stay in Washington to assess the situation, while the Ministry of Trade, Industry and Energy held an emergency task force meeting chaired by Minister Kim Jung-kwan. “We must closely examine our response efforts, continue monitoring the situation, and communicate closely with the industry to thoroughly analyze the potential impacts,” Kim said. The pressure intensified hours later when Washington finalized a trade agreement with Taiwan. Under the deal, mutual tariff rates were lowered from 20 percent to 15 percent. In return, Taiwan pledged up to $500 billion in U.S.-focused support—$250 billion in direct investment by firms such as TSMC and another $250 billion in government-backed credit guarantees. The agreement also grants Taiwanese chipmakers significant tariff exemptions tied to U.S. production. During construction of semiconductor plants, output volumes up to 2.5 times installed capacity will be tariff-free, while after completion, tariff-free treatment continues for volumes equivalent to 1.5 times capacity. South Korea’s earlier agreement with Washington explicitly promised “treatment no less favorable than Taiwan” for its semiconductor sector. Political reactions in Seoul ranged from unease to concern. Song Jae-bong, a lawmaker from the Democratic Party who sits on the National Assembly’s trade committee, said, “We are still trying to grasp the full situation, as the head of the trade negotiation bureau has not yet returned from the U.S.” Kang Seung-kyu of the People Power Party warned that the timing was troubling. “With a $20 billion cash investment in the U.S. already on the table and exchange rate volatility creating turmoil, it’s worrying that the White House has issued another proclamation like this,” he said. Independent lawmaker Kim Jong-min said the intent behind Washington’s move was clear. “The purpose of this proclamation seems to be to push firms to build more factories in the U.S.,” he said, adding that “honoring the promise that Korea will not be treated less favorably than Taiwan is critical.” Experts say the tariffs reflect Washington’s broader industrial strategy. Cho Dong-jun, professor of political science at Seoul National University, said, “The answer is obvious: it means ‘produce in the United States.’” He added that while the policy aims to rebuild U.S. manufacturing, “even if semiconductor factories are built in America, there will be no one to work in them,” warning of inefficiencies driven by domestic politics. Cho Sung-hoon, an economics professor at Yonsei University, said the proclamation serves dual purposes: “populist political motivation and an attempt to increase tariff revenue by exploiting America’s dominant position.” Others emphasized the strategic nature of semiconductors. Heo Jung, professor of economics at Sogang University, said chips are classified in the U.S. as a national security industry and are central to the AI race. “Trump likely targeted them as part of U.S. efforts to control China’s access to advanced technology,” he said. For now, the direct impact on Korean firms may be limited. KIEP researcher Kim Hyuk-jung noted that the proclamation’s annex focuses on logic semiconductors rather than memory. “Korea primarily exports memory modules to the U.S., while Taiwan exports far more logic-based products,” he said. Still, analysts warn the longer-term implications are clear. As Trump expands product-based tariffs and links exemptions to concrete investment pledges, Korea’s export-driven semiconductor industry is likely to face mounting pressure to commit more capital to U.S. production—testing both the limits of alliance politics and the durability of last year’s “most-favored” promise. 2026-01-16 17:56:30
  • South Korean defense ETFs surge as geopolitical tensions mount
    South Korean defense ETFs surge as geopolitical tensions mount SEOUL, January 15 (AJP) -Growing geopolitical risks from Ukraine to Venezuela and Iran have lifted South Korean defense-related exchange-traded funds (ETFs) to the top of the country’s stock market rankings this year, outpacing even the red-hot semiconductor sector. According to ETFCheck data as of Tuesday, leveraged defense ETFs dominated the performance leaderboard. The PLUS K-Defense Leverage and KODEX K-Defense TOP10 Leverage surged 61.2 percent and 60.9 percent, respectively, far exceeding gains in shipbuilding and semiconductor ETFs. Even the non-leveraged TIGER K-Defense & Space and SOL K-Defense rose around 30 percent, filling most of the top ten spots by return. Korean defense firms are also attracting overseas capital. The PLUS Korea Defense Industry Index ETF (KDEF), listed on the New York Stock Exchange last year in partnership with U.S. asset manager Exchange Traded Concepts, has risen 21.9 percent so far in 2026 — easily outpacing the S&P 500’s 1.4 percent increase. Similarly, the WisdomTree Asia Defense Fund (WDAF) and Global X Defense Tech (SHLD), both heavily weighted toward South Korean companies, are up between 15 percent and 16 percent. The resurgence of defense-themed funds comes as geopolitical risks intensify. U.S. President Donald Trump’s surprise military operation in Venezuela earlier this month — which reportedly resulted in the capture of President Nicolás Maduro — and subsequent comments about acquiring Greenland have added to global instability. Meanwhile, ongoing unrest in Iran and a surge in European rearmament have contributed to investor anxiety. Hanwha Asset Management, one of the biggest beneficiaries of the defense rally, said its Hanwha K-Defense, Shipbuilding & Nuclear Power Fund ranked first among domestic equity funds with a 21.5 percent gain this year, while its PLUS K-Defense Leverage topped all equity ETFs at 61.8 percent. “Defense companies are entering a stage of structural growth, driven not by war but by the global demand for self-sufficient national defense,” said Choi Young-jin, vice president of Hanwha Asset Management. “However, investors should be mindful of the volatility that comes with leveraged products.” The bullish sentiment has also spilled into the broader stock market. On Tuesday, Hanwha Systems jumped 14.2 percent, closing at 88,700 won ($60.3), while Hyundai Rotem, Hanwha Aerospace, and Korea Aerospace Industries each rose between 2 percent and 6 percent. The Korean government has pledged to further strengthen the nation’s defense industry. Defense Minister Ahn Gyu-back said on Tuesday that “Korea’s goal of becoming one of the world’s top four defense exporters requires full-scale diplomatic and institutional support,” emphasizing that robust security capabilities remain the foundation of the industry’s growth. 2026-01-15 17:32:28
  • South Korea on alert over safety of about 70 nationals as Iran protests turn deadly
    South Korea on alert over safety of about 70 nationals as Iran protests turn deadly SEOUL, January 15 (AJP) - As Iran's ongoing internal protests have reportedly killed thousands, with fears of possible U.S. intervention heightening global concerns, the South Korean government has remained on alert, convening an emergency meeting earlier this week to assess the safety of its citizens there. Chaired by Vice Foreign Minister Kim Jin-a, the meeting was held on Tuesday via Zoom with embassy officials in Tehran to set up contingency plans for South Korean nationals residing there. Stressing the importance of ensuring the safety of South Koreans, Kim urged, "We should thoroughly prepare for possible evacuation and other contingencies if the situation worsens." According to South Korean Ambassador to Tehran Kim Jun-pyo, around 70 South Koreans are in Iran, excluding embassy staff and other officials. He said the embassy has been "closely monitoring developments and taking necessary steps to protect them," adding that it has been checking on their safety daily by phone, while advising them to stay indoors, particularly at night, as protests turn violent." As of Tuesday, there have been no reports of casualties or damage affecting South Koreans. The government maintains its current alert level, the second-highest on its four-tier scale, urging all travelers to avoid Iran. However, the highest alert, which would ban travel entirely, has not yet been issued. But other countries have taken more drastic measures amid escalating unrest in Iran and fears of a possible U.S. strike. The U.K. has temporarily closed its embassy in Tehran, while France has withdrawn non-essential diplomatic staff. Italy and Spain have urged all their citizens to leave Iran immediately. These developments come as Iranian authorities continue a harsh crackdown on anti-government protests, with death toll estimates varying widely. Norway-based non-profit organization Iran Human Rights said at least 3,428 protesters have been killed as of Wednesday, while U.S. media estimated the death toll could be as high as 12,000 to 20,000. Meanwhile, U.S. President Donald Trump took to social media to call on Tehran to halt the killings, saying he had canceled all meetings with Iranian officials "until the killing stops," and added, "Help is on its way," though he did not specify what form that help would take. Iranian Foreign Minister Abbas Araghchi told Fox News that there were "no plans for executions" and that the situation was now "under control." Airspace over Iran has been closed to most flights and several European carriers including Germany's Lufthansa and its affiliated flights said they would avoid Iranian and Iraqi airspace "until further notice." Foreign ministers of G7 countries said they are prepared to impose additional sanctions on Tehran over its violent response to protests and arbitrary detentions. Officials in Seoul have been closely monitoring further developments including not only Iran's domestic unrest but also whether Washington intervenes, a move that could alter the security landscape across the already volatile Middle East. 2026-01-15 15:32:08
  • Philosophy and AI mix in Korea? Too early to tell
    Philosophy and AI mix in Korea? Too early to tell SEOUL, January 14 (AJP) - Peter Thiel and Alex Karp, co-founders of Palantir — one of the world’s most prominent artificial intelligence data analytics companies, now valued at more than $426 billion — share an unusual academic background for Silicon Valley: both studied law and philosophy as undergraduates. Karp went further. He earned a Ph.D. in classical social theory under renowned German philosopher Jürgen Habermas at Goethe University in Frankfurt, grounding his thinking in traditions that probe the nature of reason, power and social systems. The renewed attention to philosophy in tech circles reflects a broader question facing the AI era. Philosophy, long focused on the human mind and modes of reasoning once thought exclusive to humans, is increasingly invoked as AI systems grow capable of mimicking — and sometimes surpassing — human cognitive tasks. As AI spreads rapidly from classrooms to workplaces, concerns over ethics, values and human agency have moved to the foreground. That shift is visible inside AI companies themselves. Amanda Askell, who holds a Ph.D. in philosophy from New York University, works as an in-house philosopher at Anthropic. Appearing recently on CBS’s 60 Minutes, she answered host Anderson Cooper’s question — “What is somebody with a PhD in philosophy doing working at a tech company?” — by saying, “I spend a lot of time trying to teach the models to be good, and trying to teach them ethics, and to have good character.” Philosophy’s surprise resurgence in Korea Against this backdrop, philosophy — long regarded as an impractical or declining field — has seen a surge in popularity at some South Korean universities, where AI adoption is among the fastest in the world. At Seoul National University, the early-admission competition rate for the philosophy department rose from 9.92-to-1 in the 2020 academic year to 15.56-to-1 in 2026. Over the same period, linguistics climbed from 6.9-to-1 to 9-to-1, aesthetics from 7.2-to-1 to 12.56-to-1, and religious studies from 6.7-to-1 to 15.33-to-1. At Korea University, regular-admission competition for philosophy increased from 3.73-to-1 in 2020 to 5.27-to-1 in 2026, while linguistics rose from 4.57-to-1 to 6.5-to-1. At Kyungpook National University in Daegu, the philosophy department recorded a 15.6-to-1 competition rate for regular admissions in 2026 — the highest among all departments. Some analysts attribute the trend partly to tech companies showing greater openness to hiring graduates from disciplines such as philosophy and linguistics, valuing skills related to reasoning, language and abstraction. Baek Do-hyung, a philosophy professor at Soongsil University, said the AI era is reshaping how students view career risk. “Unlike when the internet or smartphones first emerged, students aspiring to become IT developers may now worry about job security,” Baek said. “Education increasingly requires the ability to think beyond memorizing established knowledge, which makes philosophical training more relevant.” He added that the AI transition “could become an opportunity to reverse the neoliberal trend that has marginalized foundational disciplines like philosophy within universities.” Moon Sung-hoon, a philosophy professor at Seoul Women’s University, framed the issue more fundamentally. “With the universal adoption of artificial intelligence, we are entering a society where machines use machines — something unprecedented,” Moon said. “This inevitably raises basic questions: What does it mean to be human? What are the signs of humanity? How should people live, and how should society be organized if AI replaces human activity?” Skepticism remains Still, not everyone agrees that philosophy’s rising admissions numbers reflect a genuine AI-driven revival. Some scholars argue the connection is overstated, noting that philosophy has long been a popular major among students preparing for law school, where logical reasoning and analytical writing are heavily tested. Kim Joon-sung, a professor in the Department of Youth Education and Leadership at Myongji University, called recent media coverage “somewhat exaggerated.” “In reality, philosophy departments have been closing at many universities for a long time,” Kim said. Kim, who taught in Myongji University’s philosophy department until 2024, now works in another department after the university stopped recruiting new philosophy majors in 2025. “Even though the department had high enrollment and solid employment outcomes, it was still abolished,” he said. Other universities have followed similar paths. Wonkwang University closed its philosophy department in 2022. Kyungnam University halted new admissions in 2014 and shut the department entirely after its final students graduated in 2021. Daejin University merged philosophy with history in 2016, while Hannam University replaced its philosophy department with a philosophy counseling program in 2014. Kim argued that the recent surge in applicants at elite institutions such as Seoul National and Korea University “appears to be driven more by law school preparation than by a structural link between philosophy and artificial intelligence.” For now, philosophy’s renewed visibility in the AI era may reflect aspiration as much as reality — a sign of changing anxieties about technology, rather than a clear transformation in how universities or labor markets value the discipline. 2026-01-14 17:46:56
  • Drivers left to rely on vigilance as Korea grapples with seasonal black ice hazard
    Drivers left to rely on vigilance as Korea grapples with seasonal black ice hazard SEOUL, January 14 (AJP) - Black ice accompanies icy snow winter in South Korea and is blamed for road accidents and deaths, but the government has run out of ideas as fundamental prevention would require entire hefty replacement roadwork. Seven people were killed and nine others injured Saturday morning in a string of traffic accidents across highways and national roads in North Gyeongsang Province, with police citing black ice as the main cause. The accidents unfolded within a narrow early-morning window, when light precipitation met subzero temperatures — the precise conditions that make black ice most dangerous. Vehicles appeared to lose traction on road surfaces that looked dry, triggering chain collisions and truck rollovers at multiple locations. While investigations are continuing, the incidents have once again exposed the limits of South Korea’s winter road safety measures. Black ice, a thin and nearly invisible layer of ice, forms when moisture freezes on pavement after rain or snow. Because it blends into the road surface, drivers often recognize the danger only after braking or steering fails. The risk is neither new nor rare. According to the Ministry of the Interior and Safety, icy roads caused 4,112 traffic accidents nationwide between 2020 and 2024, killing 83 people and injuring 6,664 others. Nearly 80 percent occurred in December and January. Data from the Korea Road Traffic Authority show that accidents on icy roads are significantly more lethal than on dry pavement. The fatality rate is about 1.5 times higher overall, and more than four times higher on bridges and overpasses — structures that freeze faster due to air circulation above and below. Despite repeated incidents, officials acknowledge that prevention options are limited. De-icing agents such as calcium chloride remain the primary response, but their effectiveness depends on timing, traffic volume and sudden temperature drops. The Ministry of Land, Infrastructure and Transport said it is reviewing whether de-icing materials were sufficiently applied on the highway sections where Saturday’s accidents occurred. Local governments have focused on targeted measures rather than broad fixes. The Seoul Metropolitan Government said it sends early-morning alert messages during freezing conditions and plans to expand road heating systems and brine-spraying devices at high-risk spots such as tunnel entrances and bridges. Structural constraints, however, remain the biggest hurdle. Rep. Son Myung-soo of the Democratic Party, a member of the National Assembly’s Land, Infrastructure and Transport Committee and a former vice minister, said most Korean highways are paved with stone mastic asphalt (SMA), which is durable but drains water poorly. “In Europe and Japan, many highways use porous asphalt that allows water to drain more effectively,” Son said. “Replacing pavement in black ice-prone sections would reduce risks, but it would require large-scale and costly reconstruction.” With infrastructure fixes limited, experts say driver behavior becomes the last line of defense. Professor Choi Jae-won of the Korea Road Traffic Authority said braking distances on icy roads can increase up to sevenfold compared with dry surfaces, based on experimental data. “Black ice accidents occur most frequently at dawn,” Choi said. “Drivers should slow down well in advance, especially near bridges, tunnel entrances and shaded sections.” As winters grow more volatile, officials say managing black ice will continue to rely on a mix of localized engineering, faster alerts and heightened driver awareness — rather than a single, comprehensive solution. 2026-01-14 11:24:16
  • From the 2025 lull to the 2026 pipeline: can Korean cinema bounce back?
    From the 2025 lull to the 2026 pipeline: can Korean cinema bounce back? SEOUL, January 12 (AJP) - After a year that many in the industry would rather forget, Korean cinema is lining up a high-stakes reset for 2026. The drought of 2025 was historic for all the wrong reasons. For the first time since 2012—excluding the pandemic years—not a single film crossed the 10-million-admissions mark. Even the symbolic 5 million barrier proved elusive. Big names stumbled, audience momentum stalled, and production volumes fell to nearly half their pre-COVID levels. The message was clear: the old formulas no longer guaranteed survival. Now comes the counteroffensive. Leading the charge is Na Hong-jin’s Hope, reportedly the most expensive Korean film ever made, with a production budget exceeding 70 billion won. Set for release in July and aiming for a Cannes premiere, Hope marks Na’s return after a decade, following The Wailing (2016). True to form, the director moves away from genre comfort zones, staging a mysterious extraterrestrial encounter in a fictional village near the DMZ. The cast—Zo In-sung, Hwang Jung-min, Jung Ho-yeon, Michael Fassbender and Alicia Vikander—signals ambition well beyond the domestic market. Zo In-sung alone embodies the year’s pipeline logic. He will also headline Ryoo Seung-wan’s Humint, a South–North espionage thriller set in Vladivostok and slated for the 2026 Lunar New Year season. Shot in Latvia, the film leans into scale, geopolitics and genre clarity—exactly the elements Korean distributors are betting can still pull audiences back to theaters. On another front, Yeon Sang-ho returns to zombies with Colony, a high-concept survival thriller about an apartment complex sealed off by a mutating virus. Promoted as his most commercial work since Train to Busan, the film also marks Jun Ji-hyun’s first big-screen appearance in 11 years. Where Train to Busan thrived on kinetic panic, Colony promises something colder and more systemic: infected minds forming networks, not mobs. Then there is Lee Chang-dong, whose long-awaited new film Possible Love takes a different route entirely. Instead of theaters, the Cannes- and Venice-honored director has gone straight to Netflix. The decision, born partly of funding difficulties, has become emblematic of the industry’s fault line: auteurs still command global prestige, but no longer automatic domestic investment. Written with longtime collaborator Oh Jung-mi, the film reunites Lee with actors who define modern Korean cinema: Sol Kyung-gu, Jeon Do-yeon, Cho Yeo-jeong and Zo In-sung. What ties these projects together is not optimism, but necessity. With only 22 Korean films scheduled by the five major distributors in 2026—down from roughly 40 before the pandemic—every release carries disproportionate weight. The industry is no longer flooding the market; it is concentrating its bets. The stakes are clear. Since The Roundup: Punishment crossed 10 million admissions in April 2024, no Korean film has followed. The symbolic era that began with Silmido and peaked with The Host and The Admiral: Roaring Currents now feels distant. What replaces it remains uncertain. Yet 2026 suggests a pivot rather than a retreat: fewer films, higher budgets, sharper genre positioning—and, increasingly, a split path between theatrical spectacle and stream-first prestige. After the silence of 2025, Korean cinema is speaking again. The question is whether audiences are ready to listen. 2026-01-12 16:45:01
  • Team Korea heads to Canada to vie for $45bn submarine race
    Team Korea heads to Canada to vie for $45bn submarine race SEOUL, January 09 (AJP) - A high-profile “Team Korea” delegation is set to travel to Ottawa later this month to compete in one of the world’s largest defense procurements — Canada’s plan to build 12 next-generation submarines in a project valued at more than $40 billion. Presidential chief of staff Kang Hoon-sik and Trade Minister Kim Jeong-gwan are expected to join the delegation, alongside senior executives from South Korea’s defense industry and Hyundai Motor. The deal, estimated at up to 60 trillion won ($41 billion), extends beyond naval platforms to encompass Canada’s electric-vehicle ecosystem. According to industry sources, Ottawa is seeking highly tailored proposals from bidders. In Korea’s case, that could include commitments to establish automotive manufacturing facilities on Canadian soil. The presidential office and the Ministry of Trade, Industry and Energy declined to confirm details of the trip. Canada’s prime minister, Mark Carney, is reported to have set specific requirements for the two shortlisted contenders: Germany’s ThyssenKrupp Marine Systems (TKMS) and South Korea’s Hanwha Ocean, which is partnering with HD Hyundai Heavy Industries. According to CBC News, a 40-page federal evaluation document released in November places half of the total score on long-term sustainment — how bidders will maintain and support a fleet of 12 diesel-electric submarines over their lifecycle. Technical capability accounts for 20 percent, financial capacity 15 percent, and the remaining 15 percent is allocated to “economic benefits” for Canada. Officials at the newly established Defence Investment Agency have stressed that the contract must deliver maximum domestic economic impact while strengthening Canada’s defense industry. Korea’s defense exporters have steadily built credentials across Europe and Asia, and a breakthrough in Canada could represent the next major milestone. “This project is not simply about submarines,” said a senior Korean trade official. “It is about building a long-term partnership that spans automotive investment, energy cooperation and infrastructure.” Lessons from Poland The stakes are particularly high following last year’s setback in Poland. The Korean consortium, branded “Korea One Team,” lost Warsaw’s Orka submarine program to Sweden’s Saab. Poland opted for a smaller 2,000-ton vessel suited to the shallow Baltic Sea, rather than the Koreans’ proposed 3,600-ton fleet. South Korea had even offered to donate a decommissioned Jang Bogo-class submarine as a goodwill gesture, but the bid ultimately fell short. The loss underscored how geopolitical alignment and operational fit can outweigh price competitiveness or industrial offsets in European defense tenders. Carney’s overtures — and Canada’s demands In October 2025, Carney visited Hanwha Ocean’s shipyard in Geoje, touring its massive dry docks. South Korean Prime Minister Kim Min-seok, who accompanied the visit, later recalled Carney saying he was “dealing not just with a company called Hanwha, but with the Republic of Korea.” Since then, Ottawa has reportedly presented Seoul with an 18-point industrial cooperation proposal, centered on attracting Korean investment into Canada’s struggling automotive sector. Industry Minister Mélanie Joly highlighted that Germany’s Volkswagen offered to build an EV battery plant as part of Berlin’s bid — a move widely seen as setting a benchmark for foreign contenders. Canadian officials have also floated cooperation in critical minerals, liquefied natural gas and hydrogen, areas that align closely with both countries’ decarbonization strategies. Strategic calculus For Canada, linking submarine procurement to auto and energy investment serves a dual purpose: rebuilding a manufacturing base weakened by U.S. trade frictions and securing political backing for one of the largest military purchases in the country’s history. For Korea, the challenge lies in balancing industrial concessions with technological credibility. Hanwha Ocean’s KSS-III-class submarines rank among the most advanced diesel-electric boats in service, but Canada’s emphasis on “sovereignty and local sustainment” favors bidders willing to localize production and create domestic jobs. The Korean consortium is required to submit its final proposal by March, with contract awards expected later this year. A win would mark the largest single defense export deal in South Korean history — and potentially the moment its shipbuilders secure a lasting foothold in the Western naval market. 2026-01-09 17:32:31
  • Busan revives as a global tourist magnet
    Busan revives as a global tourist magnet SEOUL, January 08 (AJP) - Busan, South Korea’s second-largest city after Seoul, is enjoying a tourism revival as its beach-rich coastline draws a record number of foreign visitors and the city rolls out a packed calendar of international events to sustain the momentum. According to the Korea Tourism Organization and Busan metropolitan, 3,349,219 foreign tourists visited Busan in the first 11 months of 2025, surpassing the 3-million mark for the first time. Foreign visitors spent a combined 962.8 billion won (663 million) through non-Korean credit cards, the largest amount recorded outside Seoul. Events power the rebound A fully booked events calendar has played a decisive role in drawing overseas visitors. One highlight—featured by CNN—was the sight of more than 3,000 cyclists riding across the Gwangandaegyo Bridge in 2025. The “Seven Bridge Tour,” held for the first time in September, challenged participants to cross seven ocean bridges, including Gwangandaegyo, Busanhangdaegyo and Eulsukdodaegyo. Early-bird tickets sold out in one minute, while general sales were gone in five. Sixty percent of participants came from outside Busan, and domestic visitors on the event day reached 53,418—up 21.9 percent from the previous year. Tourism spending tied to the event rose by 36 billion won, a 12.3 percent increase year on year. Images of thousands of bicycles racing across Gwangandaegyo were broadcast to 50 countries worldwide by CNN. Another driver was “Festival October,” a mega-festival combining 26 events, including the Busan International Film Festival and the Busan International Rock Festival. During its run from September 21 to 30, the number of foreign visitors rose 25 percent from the previous year. Global conferences add lift Major international conferences have also boosted arrivals and spending. In 2025, Busan hosted 62 large-scale global events, including the fifth Intergovernmental Negotiating Committee meeting on the United Nations Plastics Treaty, which drew about 4,000 participants from 170 countries, and the Our Ocean Conference, attended by roughly 2,300 delegates from more than 100 countries. Looking ahead, the city is scheduled to host several high-profile events in 2026, including the UNESCO World Heritage Committee meeting. Busan aims to attract 5 million foreign tourists and generate 1.5 trillion won in tourism spending by 2028. As of September 2025, cumulative sales of the “Visit Busan Pass” reached 600,000, while Festival October drew 930,000 visitors—up 39.6 percent from the previous year. Lee Jung-sil, president of the Busan Tourism Organization, said the city is focusing on digital transformation to improve the visitor experience. “Through digital transformation, we will provide AI-based hyper-personalized services and continuously inspect systems so that foreign tourists can enjoy traveling in Busan comfortably, including in areas such as information and payment,” Lee said, adding that the goal is to attract 5 million foreign visitors by 2028. Expanding beyond the coast Local politicians also see room for further growth. Jung Sung-kook, a lawmaker from the People Power Party representing a Busan constituency, said infrastructure upgrades will broaden the city’s appeal. “We are promoting the development of Bujeon Station—near the traditional Bujeon Market and Busan Citizens Park—into a multimodal transportation center,” Jung said. “Once established, it will create a transport environment conducive to attracting more tourists, alongside expanded infrastructure such as department stores, cinemas and hotels.” He added that Busan’s only zoo is preparing to reopen. “There are no large zoos in Busan, Ulsan or South Gyeongsang Province, so once Busan’s zoo reopens, it will draw more family-unit foreign tourists,” Jung said. “When people think of Busan, they usually think of the sea,” he added. “Until now, attractions like Gwangalli and Haeundae beaches have been concentrated along the coast. Going forward, Busan’s famous tourist destinations will become geographically broader and more numerous.” 2026-01-08 17:58:44
  • INTERVIEW: AI worsens labor mismatch as degree holders chase jobs machines replace
    INTERVIEW: AI worsens labor mismatch as degree holders chase jobs machines replace SEOUL, January 07 (AJP) - The growing insecurity faced by college-educated workers in advanced economies stems from a structural mismatch: many young job seekers are targeting white-collar roles that artificial intelligence is rapidly automating, while labor shortages are emerging in sectors machines cannot replace, according to Canadian labor sociologist Barry Eidlin. Rather than signaling a collapse of work itself, the trend reflects a breakdown in how education systems, labor markets and public policy align skills with demand in the AI era. “The old system where companies hired young people and trained them for long careers has largely disappeared,” the professor Quebec-based McGill University told AJP in a recent Zoom interview. “Today, graduates are expected to arrive with experience — but you need a job to get experience, and experience to get a job.” Collapse of the school-to-work bridge For much of the postwar period, large firms in advanced economies operated internal labor markets, recruiting young workers and investing in their long-term development. That model has steadily eroded over the past four decades, leaving graduates to navigate fragmented, experience-driven labor markets on their own. As a result, Eidlin said, youth unemployment should not be framed as a failure of individual effort or ambition. “I try to get through to my students that it’s not about them,” he said. “It’s about broader macroeconomic and social trends that are largely beyond their control.” AI accelerates polarization Artificial intelligence has intensified these pressures, particularly for degree holders seeking entry-level or mid-skill office jobs — roles increasingly exposed to automation and outsourcing. According to the U.S. Bureau of Labor Statistics (BLS), as of Sept. 2025, individuals with a four-year college degree accounted for 25 percent of all unemployed people in the United States, marking an all-time high. This is the first time since the related data began to be compiled in 1992. The phenomenon is graver in Korea. According to the Ministry of Data and Statistics (MODS), the proportion of unemployed persons with a university degree or higher rose from 37.7 percent in 2010 to 47.8 percent in 2024, and further climbed to 49.6 percent in the first through third quarters of 2025. According to the Bank of Korea’s report titled “AI Expansion and the Contraction of Youth Employment,” of the 211,000 youth jobs lost over the past three years, 208,000 were in industries highly exposed to AI. While skepticism toward higher education has grown in the United States and Canada as graduate unemployment rises, Eidlin cautioned against interpreting the trend as evidence that college no longer pays off. “In terms of lifetime earnings, people with college degrees on average are still making quite a bit more,” he said. “But unemployment rates have to do with shifts within the structure of the labor market.” Job growth, he noted, is increasingly concentrated at the lower end of the wage and education spectrum. “You look at where the growth is in the job market and it is toward the bottom of the wage and education distribution,” Eidlin said. “Growth is in things like home-health aides and service work of various types, because a lot of this work cannot get automated.” By contrast, many mid-level jobs traditionally associated with higher education are precisely those most vulnerable to technological substitution. “A lot of jobs that require some degree of education are easier to automate or outsource,” he said. Jobs disappearing — and jobs not yet imagined Eidlin rejected alarmist narratives predicting a jobless future driven by artificial intelligence, arguing that history shows technological change reshapes work rather than eliminates it. “We tend to focus on the jobs that go away,” he said. “What we don’t think about as much are the jobs that are getting created as technological change increases and the world of work gets rearranged.” Those new roles, he added, are difficult to foresee precisely because they do not yet exist. “They’re hard to imagine,” he said. “That’s always been the case with major technological shifts.” Care work as the blind spot One area where labor demand is already overwhelming supply — and unlikely to be solved by machines — is social and care work, particularly as populations age across industrialized societies. “There are all kinds of socially necessary work that doesn’t get done because it’s not profitable,” Eidlin said. “Care work requires a lot of human labor, and it’s not something that can be automated.” Korea, facing one of the world’s fastest demographic declines, exemplifies the challenge. According to the 2025 Senior Statistics released by the Ministry of Data and Statistics on Sept. 29, 2025, the population aged 65 and older in South Korea reached 10.514 million, surpassing the 20 percent threshold for the first time and falling under UN-classified superaged society. “It’s a huge problem in Korea,” he said. “With aging populations and fewer children, the question becomes: who is going to take care of all these people?” Demand for elder care and childcare continues to rise, yet supply remains constrained, and costs remain prohibitive for many families. “There’s a crying need for more care workers and more childcare for young families,” Eidlin said. “That need is going unmet because when these services exist, they are incredibly expensive.” Eidlin argued that this gap presents a rare opportunity for governments to address both unemployment and welfare challenges simultaneously. “It creates a really perfect opportunity to address the unemployment problem while fulfilling socially important tasks and taking care of the broader population,” he said. Public investment in care work and job programs, he added, could absorb displaced workers while meeting urgent social needs that markets fail to provide. Political risks of stalled opportunity Beyond the labor market, Eidlin warned that prolonged insecurity among young people carries political risks. Degrading job quality, stagnant wages and weak representation have fueled labor unrest across regions, including Korea, North America, Europe and Latin America. “We’ve seen some of the biggest strike waves in decades,” he said. Yet economic frustration has not consistently translated into progressive political outcomes. According to Eidlin, the erosion of traditional labor-based political movements has left space for other forces to shape the narrative. “When there isn’t a strong left alternative, the political field opens up for narratives that shift blame,” he said. “It becomes ‘not the bosses, but immigrants,’ or ‘women entering the labor force,’ or ‘competition from other countries.’” Such dynamics, he said, have helped fuel the rise of far-right movements in many societies. For students and recent graduates navigating an increasingly uncertain labor market, Eidlin cautioned against advice that focuses solely on individual adaptation. “I think our expectations are actually too low,” he said. “Political and business elites have told people not to expect much and to be grateful for what they get.” The challenges young people face, he emphasized, are collective rather than personal. “The problems you are trying to solve are not individual problems,” Eidlin said. “They are social problems, and they can only be addressed collectively.” 2026-01-07 15:55:22
  • A big delegation, thin deliverables from Korean state visit to China
    A big delegation, thin deliverables from Korean state visit to China SEOUL, January 06 (AJP) - President Lee Jae Myung arrived in China this week with one of the largest economic delegations Seoul has dispatched in years. What he returned with, critics say, was less clear. Accompanied by roughly 200 business leaders — including Lee Jae-yong, Chung Euisun and Koo Kwang-mo — Lee’s four-day state visit marked South Korea’s first presidential trip to China in eight years and the first major business delegation since 2019. The message, at least visually, was unmistakable: Korea wants to reset ties. Yet beyond symbolism, the economic substance of the visit appeared limited, reinforcing a long-standing reality of Korea–China relations — plenty of ceremony, cautious language, and incremental gains, but no breakthrough. Before departure, SK Group Chairman Chey Tae-won struck a familiar note, saying the delegation would seek “meaningful growth opportunities,” particularly in supply-chain cooperation. Korean conglomerates remain deeply embedded in China: Samsung, SK hynix, Hyundai, Kia and LG all operate major production facilities there. But while the footprint is large, the policy environment remains uncertain — and the summit did little to change that. MOUs and goodwill – and most gains Fourteen MOUs and a donation certificate were signed after the Lee–Xi meeting, spanning economy, culture, environment and science. Among them, the agreement on intellectual property cooperation stood out as the most tangible economic outcome, potentially helping Korean firms protect patents and brands more efficiently in China. Other outcomes — regularizing trade minister meetings and reopening China’s market to certain Korean seafood products — were welcomed but modest. None addressed Korea’s deeper concerns: supply-chain vulnerabilities, export competitiveness or market access barriers. The ceremonial donation of Qing-era stone lions from Korea’s Kansong Art Museum to China, meanwhile, was widely read as a goodwill gesture — diplomatically sensitive, culturally symbolic, but economically marginal. Content, fashion and the limits of expectation The delegation’s composition hinted at where Korea sees room to move: culture, content and consumer brands. Galaxy Corporation, home to G-Dragon and actor Song Kang-ho, joined amid renewed interest in China’s entertainment market. Fashion platform Musinsa showcased its China expansion plans. Shinsegae signed an MOU with Alibaba International to export Korean consumer goods. Yet the elephant in the room remained untouched: the unofficial Chinese restrictions on Korean cultural content — the so-called Han Han-ryeong. No timeline, no commitment, not even public acknowledgment. China continues to deny the ban’s existence, and Seoul, once again, stopped short of pressing the issue. “We agreed to approach it gradually through working-level consultations,” National Security Adviser Wi Sung-lac said — language that sounded more like damage control than progress. Reset diplomacy — or just resetting the optics? The presidential office framed the visit as a turning point. A senior aide described it as “gateway diplomacy toward full restoration” of relations, pointing to the seafood deal as proof of tangible results. Some analysts agreed the direction was right. “The economy is the only realistic entry point for improving Korea–China relations,” said Choi Woo-sun of the Korea National Diplomatic Academy. Others were unconvinced. “There was no clear economic agenda,” said Lee Khan-pyo of Sogang University. “This summit is unlikely to produce distinctive economic impact.” Opposition figures were sharper still. Lawmakers from the People Power Party criticized Lee for failing to raise the cultural ban or broader economic-security issues, calling the visit “one-sided” and “overly deferential.” “The business leaders did their part — but the president did none,” said People Power Party lawmaker Choi Soo-jin, adding that Lee “looked obsequious in China” and failed to resolve the Korean Ban or raise maritime concerns. Even within the ruling party, voices urged caution. China is no longer just a partner, they noted, but a competitor — particularly in high-tech industries where overcapacity and dumping have become concerns. Supreme Council member Lee Un-ju stressed cooperation should focus on culture, tourism and food, while warning: “Unlike in the past, China is now a competitor to Korea,” particularly in high-tech industries sensitive to economic security and fair trade. 2026-01-06 17:42:02