Journalist

김동영
Arthur I. Cyr
  • Celltrion shares jump on deal to acquire Eli Lilly and fend off US tariff risks
    Celltrion shares jump on deal to acquire Eli Lilly and fend off US tariff risks SEOUL, September 23 (AJP) - South Korean biopharmaceutical company Celltrion's shares surged upon a major M&A deal in the United States, setting the contract-based drug maker better positioned against U.S. tariff exposure. The company said on Tuesday its U.S. operation signed a deal to acquire Eli Lilly's biopharmaceutical manufacturing facility in Branchburg, New Jersey for about 460 billion won ($330 million), with an aim to close the deal by the end of the year. Shares of Celltrion closed Tuesday 8.93 percent higher at 184,200 won. The facility operates as a ready-to-use biopharmaceutical drug substance current good manufacturing practice production site, allowing immediate operations and significantly reducing the five-year timeline and trillion-won costs typically required for new plant construction. The deal includes full employment transfer of experienced local staff. Celltrion also signed a contract manufacturing agreement with Lilly to supply drug substances from the facility, providing revenue growth and early investment recovery opportunities while establishing a complete local supply chain from production to sales in the U.S. market. 2025-09-23 15:35:11
  • Seouls AI initiative gains BlackRock support
    Seoul's AI initiative gains BlackRock support SEOUL, September 23 (AJP) - South Korea is making strides in the race for artificial intelligence (AI) supremacy as it brings on U.S. funding to back its initiative to become the Asia-Pacific hub of the big data economy. Korea's Ministry of Science and ICT signed a memorandum of understanding with BlackRock on a global partnership in the AI industry on the sidelines of President Lee Jae Myung's meeting with BlackRock CEO Larry Fink in New York on Monday (local time). The MOU calls for cooperation on building infrastructure to meet rising AI demand, renewable energy initiatives, and a comprehensive approach to expanding AI capabilities, underscoring the confidence of the world’s largest asset manager with $12.5 trillion under management in Korea's state initiative and potential to achieve AI leadership. Earlier this month, Seoul launched the National AI Strategy Committee commanded by the president with the ambition to become one of the world's top three AI powers. For the aim, the government is proposing to triple AI-related budget to 10.1 trillion won next year from this year's 3.3 trillion. "Since Korea has just begun pushing for AI, a broad range of investment for AI development should be considered positive," said Kong Duk-jo, professor of AI policy strategy at the graduate school of the Gwangju Institute of Science and Technology. Korea falls far behind the front runners in the AI race. According to Stanford HAI's 2025 AI Index, Korea's AI investment reached $1.33 billion, meager versus U.S.'s $109 billion and China's $9.29 billion. The private sector is moving quickly to match the public push. SK Group is building what would be the country's largest AI data center in Ulsan with 60,000 GPUs and targeted capacity of 103MW by 2029, ultimately aiming for 1GW capacity, in a joint venture with Amazon Web Services (AWS). AWS is investing $4 billion and SK contributing sources plus $2.5 billion. The initiative is to establish "sovereign AI" infrastructure to position Korea as the hub for the Asia-Pacific region, SK Group and Korea Chamber of Commerce and Industry Chairman Chey Tae-won said in an interview with Japan's Yomiuri Shimbun on Monday. He proposed Korea and Japan to join hands to seek AI opportunities in overseas markets. Experts urge Korea to carve out its own AI specialty as it did with memory chips in semiconductors. “We'll always be number two or three if we keep chasing AI themes other nations coined like physical AI,” Kong of Gwangju Institute pointed out. 2025-09-23 13:47:15
  • Multinational interest revives Koreas dream of becoming gas producer
    Multinational interest revives Korea's dream of becoming gas producer SEOUL, September 22 (AJP) - A beleaguered deep-sea gas development campaign in the East Sea has been revived after BP plc. and a few unspecified foreign names submitted offers to tap reserves off the east coast of South Korea. State-run Korea National Oil Corporation (KNOC) published on Sunday that several multinational energy firms filed letters of intent by the deadline on Sunday, resuscitating the campaign shunned by local companies due to association with former disgraced president Yoon Suk Yeol. BP did not respond to requests for comment. KNOC declined to disclose the names of the bidders. ExxonMobil, also seen as a potential candidate, could not be reached. A preferred bidder will be selected in October. The renewed interest comes after the much-hyped "Blue Whale" structure off Yeongil Bay in Pohang disappointed earlier this year. Analysis by Core Laboratories found gas saturation levels of just 6.3 percent in February, far below the 70 percent threshold for viable commercial recovery. The discovery was originally trumpeted by then-President Yoon Suk Yeol in June 2024, who claimed the reserves could be worth up to $29 billion. His successor, President Lee Jae-myung, denounced the project as a "scam," citing its lack of economic feasibility. But foreign interest has breathed new life into the project. KNOC relaunched its tender after relinquishing rights to exploration Blocks 6-1 and 8, extending the bidding deadline from June to September to attract more suitors. "Foreign big names like BP wouldn't have joined out of charity — they must have conducted their own research," said Jun Hyung-gu, geology professor at Kyungpook National University. The winning bidder could take up to a 49 percent stake in the venture, as debt-burdened KNOC seeks foreign capital and expertise to push ahead with Phase 2 exploration. Energy experts say BP's global experience in fast-tracking deep-sea oil and gas projects into production could prove critical in assessing whether hydrocarbons bypassed the Blue Whale structure and accumulated elsewhere in the basin. "KNOC must approach resource development with a long-term perspective, beyond political cycles," Jun added. Still, skepticism remains. "Foreign firms with long exploration histories will certainly add value, but the odds of striking commercially viable gas remain slim. It's premature to predict drilling outcomes," said Kim Do-hyun, analyst at Kiwoom Securities. 2025-09-22 13:46:52
  • NVIDIA–Intel tie-up to bring opportunities for Korean chipmakers
    NVIDIA–Intel tie-up to bring opportunities for Korean chipmakers SEOUL, September 19 (AJP) - A tie-up between U.S. chip-design giants NVIDIA and Intel is expected to accelerate artificial intelligence (AI) computing infrastructure — creating new opportunities for South Korea’s memory and packaging technologies that support advanced AI chips. The $5 billion partnership, under which NVIDIA will acquire a 4 percent stake in Intel, could unite the current and former leaders of global chip design, pending regulatory approval. The announcement comes as U.S. President Donald Trump threatens to raise tariffs on high-margin goods such as semiconductors, on top of existing 25 percent tariffs on automobiles. "We are still analyzing the situation, but for now, we believe we'll see increased HBM usage in the design process between the two companies," said Yim So-jung, analyst at Eugene Investment & Securities. "With the adoption of advanced packaging technologies, the importance of back-end processes is also likely to rise." For South Korean chipmakers, the collaboration could translate into greater demand for high-bandwidth memory (HBM) and advanced packaging — both crucial to AI development. HBM enables processors to handle massive data workloads, while advanced packaging — which involves cutting wafer-produced chips and connecting them for specific applications — has emerged as a key technology to enhance performance in the AI era. Industry watchers say the deal could hurt Taiwanese foundry leader TSMC more than Korean firms. "If NVIDIA had placed foundry orders with Samsung, the deal could have had a negative impact," said Kwon Dae-woong, professor of semiconductor engineering at Hanyang University. "TSMC had been handling nearly all packaging for NVIDIA, so its partnership with Intel opens opportunities for diversification," added Park Jong-kyung, professor at Seoul National University of Science and Technology. Park noted that HBM demand could surge, with TSMC already near full capacity for interposers — the interface routers critical to HBM. "Prices may even fall if supply expands," he said. SK hynix currently supplies around 50 percent of the global HBM market and is a core supplier to NVIDIA. The NVIDIA–Intel tie-up could further boost demand for its solutions, with its U.S. operations already experiencing rapid growth. The firm also boasts proprietary packaging technology that stacks 32 NAND chips to produce ultra-high-capacity enterprise SSDs for AI servers, and is planning a $3.87 billion investment in Indiana for an AI-focused memory packaging facility. Samsung Electronics, while trailing SK hynix in direct HBM supply to NVIDIA, remains the world’s No. 2–3 player in the segment. The company is preparing to send its latest HBM4 samples for inspection in September, positioning itself to capture a larger share of AI-driven demand. Investors were not much worried. Samsung Electronics shares slipped only marginally from a 13-month high to 79,700 won (about $57) on Friday, while SK hynix ended with the same price as the day before, reflecting confidence that the NVIDIA–Intel deal will ultimately expand, not diminish, opportunities for Korean chipmakers 2025-09-19 16:41:26
  • Tourism Malaysia Seoul concludes successful roadshow event with Batik Air Malaysia
    Tourism Malaysia Seoul concludes successful roadshow event with Batik Air Malaysia SEOUL, September 19 (AJP) - The Tourism Malaysia Seoul on Thursday has wrapped up a four-day roadshow across Korea's key metropolitan hubs - Seoul Daejeon, Gwangju, and Busan - to showcase the attractions of Sabah, the northern Borneo state known for its natural beauty and cultural appeal. The promotional campaign co-sponsored by the Sabah Tourism Board and Batik Air Malaysia, is timed with the launch of the airliner's direct route between Incheon and Kota Kinabalu, one of Malaysia's popular resort destinations. 2025-09-19 11:48:08
  • Koreas drug crisis spikes, treatment gap widens
    Korea's drug crisis spikes, treatment gap widens SEOUL, September 18 (AJP) - South Korea, once hailed as drug-free, is confronting a fast-rising drug crisis with young adults most affected and treatment systems lagging to raise long-term public health concerns. From January through August, authorities confiscated 2,810 kilograms of illegal drugs — 3.5 times the 787 kilograms seized in all of 2024, Democratic Party lawmaker Chung Il-young said Thursday, citing data from the Korea Customs Service. The haul, equivalent to about 76 million doses based on a typical use of 0.03 grams, spanned a wide range of substances. "South Korean ports are emerging as a new hub for international drug cartels, and this danger is already materializing," Chung said. "The fact that 56.1 percent of drug offenders arrested over the past five years are in their 20s and 30s is a grave warning that threatens the very fabric of society." Despite Korea's no-tolerance for drug crimes, police and prosecutors are struggling to keep pace with increasingly sophisticated trafficking networks. "Young people today use cryptocurrency and false-name bank accounts to buy illegal drugs," said Yoon Heung-hee, professor of global addiction rehabilitation counseling at Namseoul University. Dealers have shifted from simple package drops to organized relay points, and long-term ties between sellers and buyers often frustrate investigators. The problem has spread to teenagers, though arrests of offenders in their teens dropped to 649 in 2024 — down 56.1 percent from the previous year after the government crackdown that followed the notorious "attention drink" case. Still, a pilot survey by the Ministry of Health and Welfare last year found that 23 of 1,800 respondents aged 14 to 24 admitted to drug use, or 1.3 percent. Experts believe the true figure is far higher, given the clandestine nature of drug crimes. "Drugs are easily accessed through illegal websites, free webtoons, and social media," said Lee Hae-kook, psychiatry professor at the Catholic University of Korea. "Teenagers without money sometimes sell amphetamine-based appetite suppressants without knowing what they are, only to end up hospitalized after arrest." Specialists are calling for a paradigm shift from criminal enforcement to public health. At a National Assembly seminar co-hosted by the Ministry of Health and Welfare on Wednesday, Kim Ju-hee, chief executive of biotech firm Inventage Lab, warned that "drug addiction can no longer be dismissed as an individual failing but must be treated as a national public health crisis." Compared with countries such as the United States and France, Korea lacks insurance coverage, treatment programs, and access to proven therapies. Experts urged the government to fund long-acting injectable medications that improve compliance and reduce relapse, and to integrate prevention into schools. "Education should begin early, teaching students both which acts are illegal and how specific drug components affect the brain," Lee said. "Without proactive attention from both government and private sector, the crisis will only deepen." 2025-09-18 15:56:03
  • Naver CEO joins UN Global Compact board
    Naver CEO joins UN Global Compact board SEOUL, September 18 (AJP) - Naver Chief Executive Choi Soo-yeon has been appointed to the board of the United Nations Global Compact, becoming the first Korean to join the sustainability initiative's governing body in 17 years, the Korean internet giant said Thursday. The appointment recognizes Choi's pioneering role in shaping international discourse on artificial intelligence governance and establishing ethical frameworks for AI development across the technology sector, it said. Choi will serve a three-year term on the board of the world's largest corporate sustainability initiative. The UN Global Compact, which encompasses about 25,000 companies and institutions across 167 countries, promotes responsible business practices through ten principles spanning human rights, labor, environment and anti-corruption. The organization has guided corporate sustainability efforts since its establishment in July 2000. "Choi Soo-yeon brings deep expertise on how digital companies can create value and scale globally while upholding principles on responsible and sustainable business," said Sanda Ojiambo, the UN Global Compact's Executive Director. "We look forward to her participation on our Board as we mobilize business to deliver the Sustainable Development Goals." Choi spearheaded critical AI safety initiatives this year, including unveiling an AI Safety Framework in June to identify and manage potential risks throughout AI systems' lifecycles. She also participated in February's AI Action Summit in Paris, where she articulated her vision for securing diversity in the digital ecosystem alongside global technology leaders. Choi will attend her first board meeting as a new director at UN headquarters in New York on Friday (local time), where she is expected to advance cross-border discussions on building secure and trustworthy AI governance frameworks. 2025-09-18 10:06:30
  • Belgium highlights business opportunities with S. Korea on biotech, life science innovation
    Belgium highlights business opportunities with S. Korea on biotech, life science innovation SEOUL, September 17 (AJP) - Belgium and South Korea spotlighted cooperative spirits in joining hands on life sciences during a business forum held Wednesday at the Shilla Seoul in the Jung District. Around 70 diplomats, business leaders, and special guests attended the seminar. Both Belgium Deputy Prime Minister and Minister of Employment, Economy and Agriculture David Clarinval and Deputy Prime Minister and Minister of Foreign Affairs, European Affairs and Development Cooperation Maxime Prévot stressed the importance of economic relations with South Korea. "Belgium is a trustworthy and reliable economic partner, committed to long-term, transparent collaboration," said Deputy Prime Minister David Clarinval, recalling his meeting with his South Korean counterpart Koo Yun-cheol earlier today. "We come with no hidden agendas – only a sincere desire to build mutually beneficial partnerships. This commitment opens the door to joint initiatives in key sectors such as life sciences and biotechnology." Investing more than 3 percent of GDP on research, Belgium stands as a long-time biotech powerhouse of Europe. The bilingual nation continues its growth in biotech, listing in March 2024 that its biotech companies reached a combined market capitalization of €66.8 billion, a 42.7 percent increase year-on-year. “Our country boasts thriving clusters of excellence in biopharma, nuclear medicine, vaccines, green chemistry, and more. These hubs of innovation are supported by strong academic institutions, cutting-edge research, and a collaborative ecosystem that fosters breakthroughs and accelerates delivery to global markets,” said Deputy Prime Minister Maxime Prévot. Deputy Minister Maxime Prévot reminded the audience that 2026 is the 125th year the two nations celebrate diplomatic relations; a partnership strengthened by military cooperation during the Korean War in the 1950s. The event also showcased Belgium's strength in biotech sectors spurring from academic excellence to science parks dedicated to biomedical research and powered by quantum computing, respectively representing the northern Dutch-speaking Flanders, the southern French-speaking Wallonia, and the capital region of Brussels. Hwang Su-jin, general manager of UCB Korea, the Korean branch of the Belgian pharma giant, congratulated the bilateral cooperation as the final speaker. 2025-09-17 22:23:57
  • POSCO has eyes on HMM despite industry backlash and synergy doubts
    POSCO has eyes on HMM despite industry backlash and synergy doubts SEOUL, September 17 (AJP) - South Korea’s POSCO Group remains committed to pursuing the country’s sea flag carrier HMM, despite fierce competition for the asset and vocal protests from the maritime industry. POSCO has been reviewing the option of going after state-owned stake in HMM in hopes to cut logistics costs and strengthen resilience against global supply chain disruptions. HMM, formerly Hyundai Merchant Marine, absorbed assets and the Asia–U.S. East Coast route of Hanjin Shipping after the latter collapsed. It is 36.02 percent owned by the Korea Development Bank (KDB) and 35.6 percent by the Korea Ocean Business Corporation (KOBC). Their combined stake will shrink slightly above 30 percent once a 2.2 trillion won stock buyback wraps up this month. The government plans to relaunch a competitive auction afterward, after a 2023 attempt to sell KDB’s 7 trillion won stake to Harim Group collapsed. POSCO Holdings said it is assessing whether the deal can deliver sustainable growth and strategic synergies. Other potential bidders include Harim Group, along with former owners HD Hyundai and Hanjin Group. Valued at about 23–24 trillion won, HMM has staged a recovery thanks to improving trade conditions. "Few can now afford HMM in the privatization process," said one company official, welcoming POSCO’s entry into the race. POSCO already has a lot on its plate. Its steel business is under strain from Chinese dumping, sluggish domestic demand, and higher U.S. tariffs, while its battery materials division has been hit by an electric vehicle slowdown. The group argues that acquiring HMM could save it around 3 trillion won annually in logistics costs for importing coal, iron ore, and battery ingredients, while providing a hedge against supply chain risks. HMM itself reported an “earnings shock” in the second quarter, with operating profit plunging 64 percent year-on-year to 233.2 billion won. Its rivals are guardedly watching POSCO's bid. The Korea Shipowners' Association warned on Sept. 11 that HMM could be reduced to "a subsidiary for POSCO’s in-house cargo transport" instead of competing as a global carrier. "HMM, which the government and industry have painstakingly revived through the five-year shipping reconstruction plan, could again be at risk if the steel industry falters," the association said. Maritime experts echoed caution. "HMM's main vessels are container ships, fleets that must operate even with little cargo. Shipping follows cyclical swings, and it is doubtful whether shareholders of a private industrial group like POSCO will accept the sector's volatility," said Jang Woon-jae, professor of maritime transportation science at Mokpo National University. At the same time, he noted that HMM’s growing pivot toward bulk shipping, which specializes in iron ore and coal, does align strategically with POSCO's raw material needs. Should the deal go through, analysts say the onus will be on POSCO to craft a credible blueprint that reassures the market and addresses concerns over industrial dominance. 2025-09-17 17:16:59
  • SK hynix dwarfs Korean peers in tax and KOSPI contribution
    SK hynix dwarfs Korean peers in tax and KOSPI contribution SEOUL, September 16 (AJP) - SK hynix continues to soar on global artificial intelligence boom, towering over its local archrival Samsung Electronics in both tax contributions and stock performance. The memory giant reported 2.77 trillion won (about $1.95 billion) in corporate tax payment for the first half of 2025, nearly tripling 908.9 billion won paid by No. 2 taxpayer, according to disclosures from Korea's top 50 listed companies. The hefty tax bill reflects SK hynix's staggering January-June performance, with revenue reaching 35.49 trillion won on an operating profit of 15.21 trillion won. On a consolidated basis, the chipmaker's operating profit surged to 16.65 trillion won, far eclipsing 11.36 trillion won posted by Samsung Electronics, long seen as untouchable as the country’s most valuable company. A core supplier to AI behemoth NVIDIA, the company has found growth engine in the United States. SK hynix America’s revenue more than doubled to 24.75 trillion won from 12.19 trillion won a year earlier. Total U.S. sales reached 27.83 trillion won, contributing to bulky 70 percent of the company's consolidated first-half revenue. The company’s fast push into high-bandwidth memory (HBM) has helped it to dethrone Samsung Electronics in the DRAM market for the first time. According to their disclosures, SK hynix accounted for 36.3 percent of DRAM sales as of June, edging out Samsung with 32.7 percent. It commands 50 percent of HBM — crucial in powering AI chips — buttressing the country’s record chip exports of $73.31 billion in the first half. The company has reportedly sold out its entire 2025 HBM production and is currently negotiating contracts for 2026 deliveries. The chipmaker has lifted government coffers and stock market as the key driver behind the KOSPI’s record run. Its shares closed Tuesday at a fresh historic high of 348,500, more than twice expensive from 152,800 a year ago, and further humbling Samsung Electronics whose stock gained 24 percent from 63,100 won to 78,850 won. It also has become new favorite of foreign investors. Foreigners own 56.25 percent of total SK hynix shares versus Samsung's 50.78 percent. "SK hynix remains a stunning winner on insatiable foreign appetite thanks to red-hot HBM sales fueling corporate bottom line," observed Yim So-jung, analyst at Eugene Investment & Securities Co. Investment sentiment remains upbeat, given its comfortable position in AI memory market. "Even if competitors enter NVIDIA's supply chain, we believe it will be difficult for them to catch up with SK hynix's cost competitiveness and technological superiority in the short term," said Ryu Young-ho of NH Investment & Securities Co. He noted NVIDIA recently raised its HBM4 specifications favoring SK hynix, which has already delivered samples ahead of competitors. “We expect the HBM contract details to be confirmed within one to two months, considering the launch timing of NVIDIA's next-generation AI chip Rubin,” Ryu added. 2025-09-16 16:33:34