Journalist

김동영
AJP
  • LG CNS annual profit rises on AI and cloud demand
    LG CNS' annual profit rises on AI and cloud demand SEOUL, January 27 (AJP) - South Korean IT services firm LG CNS reported an 8.4 percent rise in operating profit for 2025, powered by robust demand for artificial intelligence and cloud computing solutions. The company posted an operating profit of 555.8 billion won ($382.8 million) for the year, up from 512.7 billion won in 2024, according to a regulatory filing on Tuesday. Annual revenue edged up 2.5 percent to 6.13 trillion won, while net profit jumped 21.2 percent to 442.2 billion won. Revenue from AI and cloud services, the company's core growth engines, climbed 7.0 percent year-on-year to 3.59 trillion won. LG CNS said it has secured what it described as an industry-leading number of external clients across finance, manufacturing and public sectors for its AI transformation business. Fourth-quarter operating profit rose 7.9 percent to 216 billion won from a year earlier. Revenue for the October-December period reached 1.94 trillion won, with net profit at 180.6 billion won. The IT services provider has been expanding into agentic AI through its AgenticWorks platform and participating in a consortium led by LG AI Research Institute to develop a homegrown AI foundation model. In the cloud segment, LG CNS is accelerating its push into the global AI data center market, having won its first overseas contract in Indonesia. LG CNS said it plans to strengthen its position in AI and robotics transformation this year, developing specialized AI agents for various industries while pursuing partnerships with global technology firms. The company is also conducting proof-of-concept trials for industrial humanoid robots at about 10 client sites, including logistics centers and factories. 2026-01-27 10:16:09
  • S-Oils annual operating profit tumbles 31.7% on weak petrochemical margins
    S-Oil's annual operating profit tumbles 31.7% on weak petrochemical margins SEOUL, January 26 (AJP) - South Korean refiner S-Oil reported a 31.7 percent plunge in operating profit for 2025, dragged down by mounting losses in its petrochemical division amid a prolonged industry downturn. The company posted an operating profit of 288.2 billion won ($198.8 million) for the year, down from 422.1 billion won in 2024, according to a regulatory filing on Monday. Annual revenue slipped 6.5 percent to 34.25 trillion won as global oil prices softened throughout the year. S-Oil swung to a net profit of 216.9 billion won, reversing the previous year's loss, buoyed by a robust fourth quarter that defied the broader annual decline. The October-December period delivered an operating profit of 424.5 billion won, surging 90.9 percent from a year earlier. The refiner's lubricant business emerged as the sole bright spot, generating 582.1 billion won in operating profit. However, both the refining and petrochemical segments sank into the red, posting operating losses of 157.1 billion won and 136.8 billion won, respectively. Looking ahead, S-Oil projected favorable market conditions for 2026, citing expectations that global demand growth would outpace capacity additions from new refineries and paraxylene plants. The company also anticipates continued support from low crude prices and subdued official selling prices. The refiner's massive Shaheen Project, a crude-to-chemicals complex, has reached 93.1 percent completion as of Jan. 14. S-Oil said it aims to achieve mechanical completion by June and commence commercial operations by December. S-Oil shares traded at 95,600 won on Monday morning, down 3.92 percent from the previous market closure. 2026-01-26 10:04:06
  • Korean airlines cancel 18 U.S. flights as powerful winter storm batters America
    Korean airlines cancel 18 U.S. flights as powerful winter storm batters America SEOUL, January 24 (AJP) - Korean airlines have grounded 18 flights to the United States as a powerful winter storm sweeps across the central and eastern regions of the country, disrupting travel plans for thousands of passengers ahead of the weekend. Korean Air, Asiana Airlines and Air Premia announced the cancellations as of 2:30 p.m. Saturday, with disruptions expected to continue through Jan. 27 as the storm system intensifies. Korean Air bore the brunt of the disruptions, scrapping 14 flights through Monday. The carrier canceled Saturday's round-trip service between Incheon and Dallas, followed by 11 flights on Sunday serving Atlanta, Washington, New York, Boston and Dallas. A New York-to-Incheon flight scheduled for Jan. 26 was also axed. Asiana Airlines suspended two flights on the New York route, while budget carrier Air Premia canceled its round-trip Newark service, bringing the combined toll to 18 grounded flights. The airlines said they are contacting affected passengers and offering schedule changes or full refunds without penalties. However, carriers noted that no additional compensation would be provided as the cancellations stem from a natural disaster with advance notification. The storm's impact extends far beyond Korean carriers. Flight-tracking service FlightAware reported about 3,148 U.S. domestic and international flights were canceled on Saturday, with another 5,068 cancellations already confirmed for Sunday. 2026-01-24 18:24:30
  • Washington wants South Korea to take primary responsibility in defense vs North Korea -NDS
    Washington wants South Korea to take primary responsibility in defense vs North Korea -NDS SEOUL, January 24 (AJP) -The Trump administration has formally signaled a shift in security responsibilities on the Korean Peninsula, stating that South Korea is capable of taking “primary responsibility” for deterring North Korea with more limited U.S. military support. The assessment appears in the unclassified version of the U.S. National Defense Strategy (NDS) released Saturday by the Pentagon, a foundational policy document outlining Washington’s global defense priorities. “With its powerful military, supported by high defense spending, a robust defense industry, and mandatory conscription, South Korea is capable of taking primary responsibility for deterring North Korea with critical but more limited U.S. support,” the document said. “South Korea also has the will to do so, given that it faces a direct and clear threat from North Korea.” The strategy marks one of the clearest official acknowledgments to date that Washington expects Seoul to shoulder a larger share of deterrence on the peninsula, aligning with President Donald Trump’s long-standing call for greater burden-sharing among U.S. allies. The Pentagon said the shift is “consistent with America’s interest in updating U.S. force posture on the Korean Peninsula,” language that analysts say may foreshadow a reassessment of the scale and role of U.S. Forces Korea, though the document stops short of specifying troop reductions. At the same time, the NDS underscores the continued severity of the North Korean threat. The Pentagon assessed that Pyongyang retains the ability to strike targets in South Korea and Japan with nuclear weapons and other weapons of mass destruction, while also posing “a clear and present danger of nuclear attack on the American homeland.” Although much of North Korea’s conventional military equipment is described as aging or poorly maintained, the report warns Seoul must remain vigilant against the risk of invasion, particularly as Pyongyang’s nuclear forces grow in size and sophistication. The Korean Peninsula is explicitly cited as a case where Washington expects an ally to assume “primary responsibility” for regional defense, enabling the United States to reallocate military resources elsewhere. Similar language appears regarding Europe, where the Pentagon argues NATO allies are well positioned to take the lead in conventional defense with reduced U.S. involvement. The new strategy places homeland defense as the Pentagon’s top priority, followed by deterring China in the Indo-Pacific, increasing burden-sharing with allies, and strengthening the U.S. defense industrial base. While the document denies any move toward isolationism, it reflects a sharper focus on U.S. domestic security and the Western Hemisphere than in previous editions. Notably, the NDS provides few operational details — typical for an unclassified version — but sends clear signals to allies about Washington’s expectations under the Trump administration. Compared with the 2022 strategy issued under President Joe Biden, the new document places heavier political emphasis on allied responsibility and explicitly references President Trump throughout. The strategy follows the White House’s release of a new National Security Strategy in December, which also emphasized homeland defense and reduced reliance on forward-deployed forces. 2026-01-24 13:26:01
  • South Korea PM tells US there was no discrimination against Coupang
    South Korea PM tells US there was no discrimination against Coupang SEOUL, January 24 (AJP) - South Korean Prime Minister Kim Min-seok assured U.S. Vice President J.D. Vance on Friday (local time) that Seoul has not discriminated against e-commerce giant Coupang, pushing back against allegations from American investors that the company faced unfair treatment. The two officials met at the White House for about 50 minutes, exceeding the originally scheduled 40 minutes, as the Coupang dispute emerged as a thorny issue in bilateral relations. Kim's solo visit to Washington marked the first such trip by a South Korean prime minister in 41 years. Kim said Vance expressed understanding of the legal issues involved but requested that both governments manage the situation carefully to prevent misunderstandings. The prime minister agreed to share developments with Washington promptly. The meeting came a day after two U.S. investment firms holding Coupang shares urged the U.S. Trade Representative to take action against South Korea's handling of the company. The investors accused Seoul of discriminatory enforcement following a data breach that affected a significant number of Korean customers. Kim dismissed allegations that he had singled out Coupang for harsh treatment, providing Vance with an English translation of his original remarks to demonstrate they had been quoted out of context. The investors had claimed Kim urged regulators to pursue the company with the same resolve used to "take down the mafia." "No discriminatory treatment was given to any American company," Kim said during a press briefing at the South Korean Embassy in Washington after the meeting. The prime minister also rejected characterizations by Coupang investors that President Lee Jae Myung holds anti-American and pro-China sentiments, expressing confidence that the Trump administration would not accept such claims. Kim said the strength of the alliance has grown beyond being susceptible to lobbying by any single company seeking to distort facts about discrimination that does not exist. The two officials also discussed of North Korea, with Vance asking for Seoul's perspective on how Washington might improve relations with Pyongyang. Kim suggested sending a special envoy to North Korea as one possible approach. Other topics included bilateral shipbuilding cooperation, South Korea's interest in nuclear-powered submarines, and uranium enrichment. Vance acknowledged bureaucratic delays on both sides and agreed to set concrete timelines for implementing summit agreements. Kim said he extended an invitation for Vance to visit South Korea, and the two exchanged direct phone numbers to establish a hotline. President Donald Trump, who had just returned from Davos, was unable to join the meeting but sent his regards to President Lee through Vance. 2026-01-24 11:17:23
  • South Korea finish fourth at AFC U-23 Asian Cup after shock penalty loss to Vietnam
    South Korea finish fourth at AFC U-23 Asian Cup after shock penalty loss to Vietnam SEOUL, January 24 (AJP) - South Korea's under-23 football team finished fourth at the Asian Football Confederation U-23 Asian Cup on Saturday after suffering a stunning penalty shootout defeat to Vietnam in the third-place playoff, capping a deeply disappointing campaign for the former champions. The match at King Abdullah Sports City Hall Stadium ended 2-2 after 120 minutes before Vietnam prevailed 7-6 in the shootout, handing South Korea their first-ever loss to Vietnam in the tournament's history after six wins and three draws. South Korea dominated possession throughout the match 65 to 35 percent, recording 32 shots to Vietnam's five and attempting 61 crosses compared to their opponents' four, but struggled to break down a resolute Vietnamese defense. Vietnam struck first through Nguyen Quoc Viet's powerful left-footed finish in the 30th minute after Nguyen Dinh Bac carved open the Korean defense down the left flank. Kim Tae-won equalized with a spectacular turning shot from outside the penalty area in the 69th minute, only for Dinh Bac to restore Vietnam's lead two minutes later. South Korea's fortunes shifted when Dinh Bac received a straight red card in the 86th minute. Shin Min-ha capitalized on the numerical advantage, drilling home a left-footed equalizer deep into stoppage time to force extra time. Despite their sustained pressure in extra time, South Korea failed to find a winner and succumbed in the shootout when Bae Hyun-seo's seventh kick was saved, allowing Nguyen Thanh Nhan to seal victory for Vietnam. The result marks South Korea's worst finish since returning to the semi-finals for the first time in six years since their 2020 triumph in Thailand. Vietnam, coached by Kim Sang-sik, secured third place, their best result since finishing runners-up in 2018 under Park Hang-seo. "We are not a complete team yet. We are a team that should continue to improve," said coach Lee Min-sung of the South Korean squad during the postmatch press conference. "If we can get sharper in attacking the half-space and the final third, we will be a much better team." The team is scheduled to return home through Incheon International Airport on Sunday. 2026-01-24 10:26:10
  • Hyundai union clashes with management over humanoid robot deployment
    Hyundai union clashes with management over humanoid robot deployment SEOUL, January 24 (AJP) - Hyundai Motor Company's labor union has warned it will block the deployment of humanoid robots on production lines without prior agreement, escalating tensions over the automaker's plan to introduce Boston Dynamics' Atlas robots to its manufacturing operations. "Not a single robot can enter the production floor without labor-management agreement," the National Metal Workers' Union Hyundai Motor Company branch said in a newsletter on Thursday. "If robots are deployed on production lines, significant employment shocks are expected." The union raised alarms over potential job losses, citing cost comparisons between human workers and machines. "With an average annual salary of 100 million won ($69,141), operating three shifts around the clock costs about 300 million won per year, while robots only incur maintenance costs after the initial purchase," the union said. Hyundai Motor Group unveiled a production-ready version of the Atlas humanoid robot at CES 2026 earlier this month, outlining a roadmap to deploy the machines at its Metaplant facility in Georgia before expanding to factories worldwide. The group plans to assign Atlas robots to basic tasks such as parts picking and sequencing starting in 2028, then expand their use to more complex operations including assembly, heavy-load handling and quality inspection by 2030. A dedicated robot factory is being built with annual production capacity of about 30,000 units. The union fears that concentrating electric vehicle and robotics investments at U.S. production hubs could accelerate the transfer of high-value manufacturing processes overseas, leaving domestic plants with diminished roles and reduced workforce requirements. Delays in robot deployment could also carry costs for Hyundai, potentially pushing back expected gains in productivity, quality control and workplace safety, while slowing the company's return on investment amid intensifying competition in the electric vehicle market. Global rivals are already moving toward commercialization. Tesla has begun testing its Optimus humanoid at its own facilities and has signaled plans to sell the robots by late next year, while BMW is running pilot programs at its Spartanburg plant. 2026-01-24 09:34:41
  • South Korea enforces worlds first comprehensive AI law as industry braces for compliance
    South Korea enforces world's first comprehensive AI law as industry braces for compliance SEOUL, January 22 (AJP) - South Korea on Thursday became the first country to enforce a comprehensive artificial intelligence law, a landmark move that establishes sweeping transparency and safety obligations while industry players scramble to navigate its sprawling requirements. The Basic Act on the Development of Artificial Intelligence and the Establishment of a Foundation for Trustworthiness, or the AI Basic Act, which took effect a year after its promulgation, governs everything from deepfake labeling to high-impact AI oversight. South Korea is the second jurisdiction after the European Union to enact a comprehensive AI statute, but its approach diverges sharply from Brussels. South Korea's AI Basic Act takes a hybrid approach—more autonomous than the EU but stricter than the U.S. federal government. While all three have mandated identification watermarks for AI-generated content, the U.S. runs on dual tracks—the federal government emphasizing self-regulation while state governments pursuing detailed regulations. On the contrary, the EU categorized AI into four risk levels and banned high-threat AI usages, including those applying to social scoring systems and real-time biometric surveillance in public spaces. The Ministry of Science and ICT said the legislation fills regulatory gaps left by existing telecommunications and information network laws, which were not designed to address AI-generated content or algorithmic discrimination. The ministry pledged a "soft landing" for businesses by deferring its investigative powers and penalty enforcement for at least one year. Under the law, operators of high-impact AI systems in sectors such as healthcare, energy, hiring and loan assessments must implement human oversight and safety measures. The government said only fully autonomous vehicles at Level 4 or above currently meet the high-impact threshold, though industry observers expect the category to expand rapidly as AI capabilities advance. The law also enshrines a right to explanation, requiring AI operators to provide clear and meaningful information about the criteria and principles behind algorithmic decisions. Industry groups have characterized the provision as largely symbolic, noting that only a handful of companies worldwide possess the technical capability to interpret complex AI reasoning processes. Enforcement mechanisms include on-site inspections and fines of up to 30 million won ($20,459) for violations such as failing to notify users of AI deployment or neglecting to appoint a domestic representative for foreign operators. The ministry has pledged to hold off on exercising these powers during the grace period. The creative sector has mounted broader resistance. Sixteen organizations representing writers, artists and other content creators issued a joint statement on Jan. 13 demanding the government withdraw and overhaul its national AI action plan. "The government's AI action plan is an attempt to fundamentally violate copyright as private property rights, and amounts to a declaration that it will abandon the sustainability of Korea's cultural industries," the groups said. They added that the government is "taking the lead in removing legal barriers so AI companies can use copyrighted works without permission and at virtually no cost." The gaming industry has raised similar complaints, citing ambiguity over how AI disclosure rules apply to interactive entertainment classified as artistic expression. Regulators have said games may use labeling methods that do not disrupt the viewing experience, but have not specified concrete standards. 2026-01-22 13:38:09
  • Samsung Biologics becomes first Korean drugmaker to join 2 trillion won income club
    Samsung Biologics becomes first Korean drugmaker to join 2 trillion won income club SEOUL, January 21 (AJP) - Samsung Biologics on Wednesday posted record annual operating profit for 2025, becoming the first pharmaceutical and biotechnology company in South Korea to surpass the 2 trillion won threshold. The contract drug manufacturing giant posted an operating profit of 2.07 trillion won ($1.4 billion) for 2025, soaring 56.6 percent from a year earlier, according to a regulatory filing released Wednesday. Revenue climbed 30.3 percent to 4.55 trillion won, while net profit jumped 55.2 percent to 1.61 trillion won. Fourth-quarter operating profit reached 528.3 billion won, up 67.8 percent year-on-year, driven by full-capacity operations across all four manufacturing plants in Incheon. Quarterly revenue stood at 1.29 trillion won. The company attributed its robust performance to the ramp-up of Plant 4 operations, stable utilization of Plants 1 through 3, and favorable foreign exchange effects. Samsung Biologics has served over 110 clients, including 17 of the world's top 20 pharmaceutical companies. "2025 has been a year of steady progress for Samsung Biologics as we expanded collaboration with both pharma and biotech companies, supported by our focus on operational and quality excellence," said John Rim, CEO of Samsung Biologics. The Incheon-based firm made strategic moves throughout 2025 to bolster its global footprint, including acquiring a manufacturing facility in Rockville, Maryland, securing land for a third bio campus, and completing the construction of Plant 5. Cumulative contract value has exceeded $21.2 billion since its founding in 2011. Samsung Biologics forecast revenue growth of 15 to 20 percent for 2026, excluding contributions from the Rockville facility acquisition, which remains pending regulatory approval. The company maintained a solid financial position with total assets of 11.06 trillion won and a debt-to-equity ratio of 48.4 percent at year-end. It achieved the 2 trillion won operating profit milestone just two years after becoming the first Korean drugmaker to post annual operating profit exceeding 1 trillion won in 2023. Shares of Samsung Biologics closed Wednesday 1.35 percent lower at 1,894,000 won per stock. The regulatory filing came after market closure. 2026-01-21 17:19:50
  • Korean transformer exports, stocks hit record highs on global AI power demand
    Korean transformer exports, stocks hit record highs on global AI power demand SEOUL, January 21 (AJP) - South Korea's gains from the accelerating global shift toward artificial intelligence are extending beyond semiconductors. Exports of ultra-high-voltage transformers surged to a record high last year, driven by aggressive investment in power infrastructure for data center expansion worldwide. Exports of transformers rated at 10,000 kilovolt-ampere (kVA) or higher reached $1.3 billion last year, according to the Korea International Trade Association. It marked the first time shipments topped the $1 billion mark since 2010 and the highest level since records began in 1977. The United States accounted for the largest share, importing about $738 million worth of Korean transformers. Shipments to the U.S. jumped nearly sevenfold over the past three years, fueled by the dual need to replace aging grid infrastructure and connect newly built AI data centers to power networks. "Large-scale AI data centers have extremely high GPU server density, which causes electricity demand to surge," said Lee Sang-heon, an analyst at iM Securities. "High-capacity, high-efficiency transformers are essential, and switchboards that distribute, disconnect and protect the power flowing from these transformers are also key equipment." According to the International Energy Agency, global electricity demand from data centers is projected to more than double to about 945 terawatt-hours by 2030, roughly equivalent to Japan's current total power consumption. AI-optimized data centers are expected to be the main driver, with their electricity demand forecast to quadruple by the end of the decade. In the United States, data centers are on track to account for nearly half of total electricity demand growth through 2030. By then, the country is expected to consume more power processing data than manufacturing aluminum, steel, cement and chemicals combined. This surge in power demand has triggered a global scramble for transformers. Lead times for large power transformers have stretched beyond 200 weeks, and equipment shortages are increasingly cited as a major bottleneck for data center development. Companies such as Amazon have reported project delays due to limited transformer availability. South Korea's major power-equipment makers — HD Hyundai Electric, Hyosung Heavy Industries and LS Electric — have secured order backlogs stretching five to six years ahead, with some contracts already booked through 2031. To meet demand, the firms are ramping up production. HD Hyundai Electric is expanding its transformer plant in Alabama, aiming to boost capacity by 30 percent by early 2026. Hyosung Heavy Industries plans to nearly double annual output at its Memphis facility to more than 250 units by 2027 and recently announced a $225 million investment in a new high-voltage direct current (HVDC) transformer plant in Changwon. LS Electric said in its third-quarter report that it plans to invest in facilities in Texas and Utah to expand production. Korean manufacturers currently hold about 25 percent of the U.S. transformer market, benefiting from differentiated technology, competitive pricing and the ability to deliver customized products faster than many rivals. Exports are also diversifying beyond the U.S. Shipments to the United Kingdom rose to 126 billion won through November last year, up from 50 billion won in 2023, as Britain accelerates grid modernization. HD Hyundai Electric secured a 220 billion won contract from UK National Grid, while Hyosung Heavy Industries signed a 120 billion won deal with Scottish Power Energy Networks. Korean power-equipment firms are also developing next-generation grid-stabilization technologies. Hyosung Heavy Industries said Tuesday it partnered with Germany's Skeleton Technologies and Japan's Marubeni to develop e-STATCOM, a power compensation system designed to maintain grid stability amid fluctuating demand from AI-driven industries and renewable energy sources. Industry analysts expect the boom to continue. The North American transformer market is projected to grow to $41.62 billion by 2030, up from $30.28 billion last year, according to Markets and Markets, driven by infrastructure replacement and AI-related power demand. "The North American market is maintaining solid demand, centered on 765-kV ultra-high-voltage transformers," said Lee Han-gyeol, an analyst at Kiwoom Securities. "As data centers expand, on-site power generation is increasing because grid connections take time. However, grid connections are essential in the long term for system stability, so demand for ultra-high-voltage transformers should remain strong." The surge in demand has been mirrored in the stock market. HD Hyundai Electric traded at 897,000 won on Wednesday, up 132.99 percent from a year earlier, while LS Electric rose 144.44 percent to 504,000 won. Hyosung Heavy Industries posted the biggest gain among the three, soaring 398.5 percent to 2,324,000 won. 2026-01-21 15:29:53