Journalist

김동영
Arthur I. Cyr
  • [K-Tech] South Korean food technology company bets on chocolate without cocoa
    [[K-Tech]] South Korean food technology company bets on chocolate without cocoa SEOUL, September 15 (AJP) - On a recent afternoon, oval-shaped chocolate balls sat neatly on a platter at HN Novatech's research center. Their glossy shells promised indulgence, and the first bite delivered a familiar rush: creamy tartness followed by a flood of chocolate flavor. What the confection lacked was the very ingredient that defines chocolate. Instead of cacao, the morsels were made largely from plants like perilla seeds, almonds and coconuts — engineered to mimic the taste, texture and fattiness of real chocolate. HN Novatech, a South Korean food technology firm, calls its product Ecao, short for "eco" and "cacao." The company is pitching it as a cheaper, healthier and more sustainable alternative at a moment when the global cocoa market is under severe strain. "We're hoping to develop substitute cacao powder that replicates the experience of luxury chocolates most people can only dream of trying," Kim Yang-hee, the company's chief executive, said in an interview with AJP. Founded in 2016 as a maker of alternative meats, HN Novatech nearly collapsed when that market stalled. In 2021, it pivoted to chocolate substitutes just as cacao prices began to soar. "We were extremely fortunate to catch the cacao wave," Kim said. Cocoa prices have spiked to record levels, fueled by extreme weather, crop disease and pest outbreaks across West Africa, which produces more than half the world's supply. Prices on the Intercontinental Exchange in Chicago have risen 178 percent over the past year. "Before COVID-19, we bought cacao at $2,000 to $3,000 a ton for more than a decade," said Lee Soo-ho, a manager at Lotte Wellfood, one of South Korea's largest chocolate producers. "Now the price is $7,000 to over $8,000. Some shipments cost nearly five times more." The International Cocoa Organization reported that global production fell nearly 13 percent from 2023 to 2024, with stockpiles dropping almost 30 percent. While a modest recovery is expected, scientists warn that by 2050, rising temperatures in Ghana and Côte d'Ivoire could make cocoa farming untenable. Ecao costs less than half the price of natural cocoa powder in South Korea — about 5,500 won ($4) per kilogram, compared with 12,000 won for the real thing. It contains no caffeine, requires little pesticide, and, unlike traditional cocoa, involves no child labor in harvesting. The company describes its approach as "ingremimetics," a portmanteau of "ingredient" and "mimetics," designed to extract the essence of chocolate eating — taste, texture and fat content — from other plants. The substitutes are already drawing attention. HN Novatech said it is in talks with both international and domestic confectionery firms to develop products using Ecao. Beyond Chocolate The company's ambitions extend further. It is experimenting with so-called "weed crops" like milk thistle and bur cucumber — hardy plants that thrive in extreme climates with little water or fertilizer. "We could help the environment by utilizing these vigorous plants while finding sustainable options," Kim said. But food safety experts remain cautious. "Thorough safety testing will be required before unconventional plants can be commercialized," Seo Seung-oh, a professor of food science and biotechnology at Seoul National University, told AJP. Meanwhile, demand for chocolate shows no sign of slowing. The global confectionery market is projected to reach $140 billion by 2025. CEO Kim says her company's next target is the prized criollo cacao bean, a rare variety that makes up just a sliver of the global market but commands luxury prices. "We could take chocolates that cost 10 million won and bring them down to 10,000," she said. "Special gifts for special occasions — but accessible to more people." 2025-09-15 15:32:09
  • Hanwha Ocean positions itself at center of Korea-US maritime ties
    Hanwha Ocean positions itself at center of Korea-US maritime ties Editor's Note: This article is the 35th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, September 10 (AJP) - Hanwha Ocean, the South Korean shipbuilder once known as Daewoo Shipbuilding & Marine Engineering, is staking its future on a bold wager: reviving America’s long-dormant shipbuilding industry. The company announced a $5 billion investment last month to expand its newly acquired Philadelphia shipyard, a project that analysts say underscores both its global ambitions and its growing role in South Korea–U.S. defense and industrial cooperation. “Hanwha Ocean is making aggressive investments to proactively enter U.S. and global markets, while expanding submarine construction capacity domestically to prepare for future opportunities,” Yang Seung-yoon, an analyst at Eugene Investment & Securities, told AJP. Hanwha’s plan calls for two new docks and three additional quays, increasing the yard’s capacity to build liquefied natural gas carriers and eventually naval vessels. Vice Chairman Kim Dong-kwan, visiting the site on Aug. 26, cast the move as an investment not only in infrastructure but also in the workforce. “We are creating good manufacturing jobs, building the world’s most advanced ships, and fostering a new skilled workforce right here in America,” Kim said. “This is just the beginning.” The Philadelphia yard, acquired in 2024 for $100 million, has already secured an order from Hanwha Shipping for LNG carriers — the first such contract placed with a U.S. shipyard since the late 1970s. Hanwha Ocean will act as a subcontractor, gradually transferring Korean shipbuilding expertise to the American facility. The move builds on a broader turnaround for the company, which was pulled from the brink of collapse after the 2009 financial crisis and years of losses. Since Hanwha Group’s acquisition in 2023, the shipbuilder has restructured around high-value vessels like LNG carriers and submarines, distancing itself from low-margin container ships. The strategy has begun to pay off. In July, Hanwha Ocean reported second-quarter revenue of 3.29 trillion won ($2.4 billion), up 30 percent from a year earlier, and an operating profit of 371.7 billion won, reversing losses in 2024. Orders for next-generation vessels — including ammonia-fueled ships and liquefied hydrogen carriers — are adding momentum. The company is also in final talks with Greece’s GasLog for a 340 billion won LNG carrier contract, according to trade publication Riviera Maritime Media. For Washington, Hanwha’s entry comes as the United States looks to rebuild its shipbuilding base after decades of decline. For Seoul, it cements the country’s role as an indispensable industrial partner in both commercial and naval construction. From its origins during the oil shock of the 1970s to its reinvention under new ownership, Hanwha Ocean has weathered decades of upheaval. Now, as it anchors itself on American shores, the company is positioning Korean know-how at the heart of a U.S. shipbuilding renaissance. 2025-09-11 16:32:34
  • Shadow device attack adds to Koreas cybersecurity scare
    Shadow device attack adds to Korea's cybersecurity scare SEOUL, September 11 (AJP) - South Korea, an ICT powerhouse, is again confronting the perils of ever-evolving cyber threats, with the latest breach involving what appeared to be a benign device designed to boost mobile coverage. KT Corp., one of the nation's major wireless carriers, estimates losses of around 170 million won ($122,305) after unauthorized micro-payments were routed through rogue micro base stations. Reports of fraudulent transactions surfaced on Aug. 26, with attacks spanning from Seoul's Geumcheon district to southern Gyeonggi Province. As cases multiplied rapidly, the Gyeonggi cyber police launched a full investigation on Sept. 6., followed by a joint government-private investigation. Investigators traced the fraud to unregistered femtocells – portable miniature base stations that had infiltrated KT's network. "This security breach is an extremely critical matter directly tied to public trust in telecommunications services that are part of our daily lives," said Science and ICT Minister Bae Kyung-hoon, visiting KT headquarters in Gwanghwamun, downtown Seoul, Thursday. Unlike past scams that relied on malicious apps or phishing links, the scheme puzzled investigators: victims reported charges they had never made, while their devices had never been infected. Instead, hackers are suspected of exploiting low-power base stations often used to resolve coverage blind spots. Operated from moving vehicles, the rogue femtocells could explain the broad geographic spread of reports. "One can use femtocells to make virtual base stations. Although the coverage may be small, one can have their own personal base stations," said Kim Ki-hyung, a cybersecurity professor at Ajou University. The fraudulent signals proved stronger than KT's legitimate nearby base stations. Since mobile phones automatically connect to the strongest available signal, users' devices were silently hijacked. "Think of it similar to wifi signals. Our phones automatically connect to wifi with faster internet, right? It's the same for radio frequencies for phones, that's why these virtual base stations gain control over other phones as they get closer to the victims," said Hwang Suk-jin, a professor at Dongguk University's Graduate School of International Affairs and Information Security. Kim suspected the criminals could have driven vans equipped with the rogue femtocells, intercepting one-time verification codes to log into users' online accounts. "They could easily shop online and purchase digital coupons without leaving any traces," Kim said. While femtocell exploits have been documented abroad, intercepting authentication codes to authorize payments marks a troubling new twist in Korea. Because most digital verification in South Korea still relies on text messages — from online shopping to tax filing — the attack highlights structural vulnerabilities. Experts warn that, with more effort, hackers might even have penetrated PASS, Korea's near-universal mobile verification app. "(This incident) should raise a red flag for Korea to update mobile verification and security methods," Kim said. There had been earlier warnings. Just weeks ago, rival SK Telecom was slapped with a record fine for failing to protect personal data of more than 23 million subscribers as regulators found the company negligent in basic cybersecurity practices and oversight. KT, meanwhile, did not formally acknowledge the rogue femtocell intrusion until Sept. 9, when it reported the incident to the Korea Internet & Security Agency (KISA). By that point, the damage had spread beyond initial hotspots, placing the country’s entire telecom sector on high alert. Cybersecurity experts argue that encrypting radio frequencies from the outset and regularly updating encryption algorithms is critical to preventing such intrusions. Extending end-to-end encryption into the core network would help close off vulnerabilities, they add. "There should also be no gaps where base stations decrypt data," emphasized Hwang of Dongguk University. "If base stations simply transmit, verification remains intact. But once they decrypt, it opens the door to exploitation. Femtocells themselves should not handle passwords," Hwang said. Actions are urgent, experts warn, as exploitations via ghost base stations can compromise not only mobile payments but also government authentication systems, including tax and mortgage verifications. 2025-09-11 16:04:55
  • South Korea launches task force to fast-track offshore wind projects
    South Korea launches task force to fast-track offshore wind projects SEOUL, September 10 (AJP) - The South Korean government has launched a new task force aimed at accelerating the deployment of offshore wind power, a strategic move to boost energy security and support the nation's growing, AI-driven economy. The pan-government task force, led by the Ministry of Trade, Industry and Energy, held its first meeting on Wednesday, bringing together various ministries to address major bottlenecks hampering projects, including complex permitting processes, insufficient infrastructure, and financing challenges. The initiative comes as President Lee Jae Myung's administration pushes to build a "West Coast Energy Highway" by 2030, a project first proposed by Lee during his campaign. The initial plan aims to deliver 14 gigawatts of offshore wind capacity from the country's southwest coast, a scaled-down target from a previously envisioned 20 gigawatts. The project is estimated to cost around 100 trillion won ($72 billion) in public and private investment. "All experts are saying that now is the last golden time to activate domestic offshore wind," Vice Trade Minister Lee Ho-hyeon said during the meeting. "To avoid missing this opportunity, all relevant ministries will work as one team." South Korea is surrounded by water on three sides, and offshore wind is seen as a crucial pathway to achieving the country's carbon neutrality goals and generating significant economic ripple effects in related industries, such as shipbuilding and steel. 2025-09-10 16:36:30
  • Chinese firms challenge Coupangs grip on Koreas e-commerce market
    Chinese firms challenge Coupang's grip on Korea's e-commerce market SEOUL, September 10 (AJP) - Coupang, South Korea’s homegrown e-commerce champion, has turned profitable and doubled its sales in recent years. But its dominance faces a new test: the rapid advance of Chinese discount platforms offering rock-bottom prices and building out local logistics networks. AliExpress, owned by Alibaba, and Pinduoduo’s Temu have surged in popularity among Korean consumers drawn to their ultra-low prices. AliExpress now counts nearly 10 million monthly active users in Korea, second only to Coupang’s 32 million. “Chinese e-commerce firms are following suit in Korea by building their own supply chains, starting with logistics centers,” Ko Yun-seung, a professor of online commerce at Seoul Cyber University, told AJP. “What matters now is how quickly they can deliver products in each region.” For now, Coupang still leads with a 22.7 percent share of Korea’s online retail market, edging out Naver at 20.7 percent. The company generated 23.5 trillion won ($17 billion) in transactions in the first half of 2025, up 158 percent from four years earlier. It also posted an operating profit of 443 billion won, reversing years of heavy losses. But Chinese entrants are reshaping the battlefield. Long defined by speed — with same-day and even one-hour delivery services pioneered by Coupang and its domestic rivals — Korea’s e-commerce war is now also about price. Wages in China’s interior cities remain far lower than in Korea, giving Temu and AliExpress cost advantages that Korean firms cannot easily match. “The main threat is price — nothing else,” Professor Ko said. “Korean companies can’t compete with Chinese labor costs.” Korean platforms are instead doubling down on their traditional strengths: rapid fulfillment and high-touch service. Coupang in August expanded its one-hour delivery pilot in Seoul, while Naver, CJ OnStyle and discount chain Daiso have all rolled out competing express services. Industry analysts expect more alliances as local firms try to pool resources to offset cost disadvantages. 2025-09-10 16:02:24
  • Hyundai Motor unveils compact electric concept car
    Hyundai Motor unveils compact electric concept car SEOUL, September 09 (AJP) - Hyundai Motor Company introduced its first compact electric vehicle concept under its Ioniq brand on Tuesday, signaling the automaker’s move into smaller car segments as it broadens its electric lineup. The vehicle, called the “Concept Three,” debuted at the IAA Mobility 2025 show in Munich, Europe’s largest auto fair. It marks Hyundai’s entry into the compact electric market, following the rollout of mid-size and large EVs in the Ioniq series. The new concept features a streamlined, aerodynamic body highlighted by a lemon-colored ducktail spoiler designed to optimize airflow. Hyundai said the vehicle reflects its design philosophy of using the natural elasticity of metallic materials to create fluid, dynamic forms. Inside, the car introduces a dashboard widget that extends toward the steering wheel when the engine is activated, placing key controls within easy reach. It also incorporates “Mr. Pix,” a digital character that adapts its form across the cabin’s displays. Europe was chosen for the debut, the company said, because of its rapid adoption of electric vehicles and continued consumer demand for compact hatchbacks. 2025-09-09 17:16:38
  • Koreas largest chemical firm bets on next-generation materials to escape prolonged slump
    Korea's largest chemical firm bets on next-generation materials to escape prolonged slump SEOUL, September 09 (AJP) - LG Chem is drawing on its most valuable holdings and accelerating restructuring as South Korea’s largest chemical company struggles with an unprecedented downturn in its business, which has delivered four straight quarters of losses. The company is exploring ways to raise as much as 3 trillion won, or about $2.15 billion, through a financing arrangement tied to its majority stake in battery maker LG Energy Solution and a series of divestitures, according to people familiar with the matter. The urgency reflects the scale of the challenges confronting South Korea’s petrochemical industry, long a mainstay of the nation’s export economy but now under siege from Chinese overcapacity, weak global demand and fierce competition from Middle Eastern producers. “The oversupply situation has become critical,” Lee Jin-ho, an analyst at Mirae Asset Securities, told AJP. “Massive capacity expansions in China and the Middle East, along with earlier growth in the United States, have created a surplus the market simply cannot absorb.” LG Chem’s petrochemical division has lost 276 billion won since the third quarter of 2024, including a 29 billion won operating loss in that quarter. The slump has persisted through mid-2025, forcing the company to deploy what it once regarded as strategic reserves. Among the options under discussion is a price return swap, or PRS, contract using its 81.2 percent stake in LG Energy Solution as collateral. The instrument would allow LG Chem to secure funds without giving up ownership or voting rights. “We view our LG Energy Solution stake as a strategically deployable resource,” Cha Dong-seok, the company’s chief financial officer, said during its second-quarter earnings call. At the same time, the company has moved quickly to unload noncore businesses under what it calls a “selection and concentration” strategy. On Aug. 7, it agreed to sell its aesthetics unit, which makes dermal fillers, to VIG Partners for 200 billion won. In June, it sold its water treatment filter business to Glenwood Private Equity for 1.4 trillion won. LG Chem is also forging partnerships in growth areas. Last week, it announced that Toyota Tsusho Corporation had acquired a 25 percent stake in its Gumi cathode plant, a deal designed to help the company navigate U.S. clean energy subsidies under the Inflation Reduction Act. Cathode materials are a cornerstone of its expansion, with plants under construction in Tennessee and operating in South Korea and China. The company has also moved into renewable fuels. On Aug. 4, it began building South Korea’s first hydrotreated vegetable oil plant, which will convert used cooking oil and other plant-based feedstocks into low-emission fuel. 2025-09-09 16:45:01
  • US Homeland Security chief says detained Korean workers will be deported
    US Homeland Security chief says detained Korean workers will be 'deported' SEOUL, September 09 (AJP) - U.S. Homeland Security Secretary Kristi Noem said Korean workers detained in an immigration raid in Georgia last week will be "deported" — a statement that appears to contradict what South Korean officials say they had already negotiated. Speaking Monday (local time) in London during a meeting of security ministers, Noem said the workers caught in the raid “are going to be deported,” adding that some also face additional charges beyond immigration violations. “We’re following the law,” she said. “A few of those had criminal activity beyond just being here past final removal orders, and they will face the consequences for that.” Deportation typically carries heavy penalties, including bans on re-entering the United States. By contrast, South Korea has been pressing for “voluntary departure,” which would allow workers to leave without creating a formal record that could complicate future visa applications. South Korean officials insist they had reached a broad agreement with U.S. immigration authorities for that outcome. Now, Noem’s comments are raising questions over whether the deal is in jeopardy. Foreign Minister Cho Hyun left for Washington on Monday to coordinate with U.S. officials and ensure the detainees’ safe return. Cho is also expected to push for reforms to visa rules that Korean companies say have hampered their U.S. operations and left them vulnerable to enforcement actions. Roughly 300 of the 475 people arrested in the Sept. 4 raid at the Hyundai Motor–LG Energy Solution battery plant were South Korean nationals, though it’s not clear if Noem’s remarks apply to all of them. Noem defended the raid, saying it was “a great opportunity to make sure that every business knows what the rules of the game are when they come to America,” and insisted it would not deter foreign investment. 2025-09-09 14:53:33
  • E-cigarette users show higher nicotine addiction than traditional smokers, study finds
    E-cigarette users show higher nicotine addiction than traditional smokers, study finds SEOUL, September 08 (AJP) - Users of electronic cigarettes and heated tobacco products may be more dependent on nicotine than conventional cigarette smokers, according to a government-commissioned study released Monday, challenging industry claims that the alternatives are less addictive or less harmful. The research, conducted by the Korea Association on Smoking or Health at the request of the Ministry of Health and Welfare, surveyed 800 smokers between the ages of 20 and 69 nationwide. It found that 30 percent of liquid e-cigarette users reported reaching for their devices within five minutes of waking, compared with 18.5 percent of traditional cigarette smokers. Among heated tobacco users, 26 percent said they did the same. Public health experts regard immediate morning use as a key marker of addiction severity. The findings arrive as South Korea’s health ministry has intensified calls for tighter regulation of e-cigarettes, particularly liquid nicotine products. Jeong Eun-kyeong, the health minister, has argued that “synthetic nicotine liquid e-cigarettes are equally harmful to health as cigarettes and require the same regulations.” She has pledged to support legislation that would expand the legal definition of tobacco from “tobacco leaves” to “tobacco and nicotine,” effectively bringing e-cigarettes under the same regulatory framework as combustible cigarettes. The study also underscored differences in consumption patterns. Nearly 51 percent of heated tobacco users said they consumed the equivalent of 11 to 20 cigarettes per day, compared with 46 percent of traditional smokers. That disparity, the report noted, undermines marketing claims that heated products reduce harm. The Korea Association on Smoking or Health warned that the tools used in smoking cessation clinics are ill-equipped to measure nicotine dependence among new-generation tobacco users, because they do not account for factors such as e-liquid concentration, device voltage and irregular usage patterns. The group called for new standardized assessment indicators tailored to e-cigarettes and heated tobacco. International research has raised similar concerns. A 2025 study by Johns Hopkins Medicine found that many e-cigarette users may ingest more nicotine than conventional smokers by using high-strength cartridges or modifying devices to deliver stronger hits. While vaping exposes users to fewer chemicals than traditional smoking, researchers noted, many of those substances remain unidentified, and some products have been found to contain pesticides. The Johns Hopkins team also cautioned that e-cigarettes have not proven effective as smoking cessation tools in the United States, where they are often marketed as “healthier” options but remain especially popular among young people. 2025-09-08 14:39:14
  • Korean firms experiment with four-day workweek amid fierce debate
    Korean firms experiment with four-day workweek amid fierce debate SEOUL, September 08 (AJP) - Some of South Korea’s biggest corporations are experimenting with shorter workweeks and flexible schedules, as the nation debates sweeping labor reforms that include cutting the workweek to four days and extending retirement ages. President Lee Jae Myung has pledged to phase in a 4.5-day workweek as a first step toward a four-day schedule without a reduction in pay. Labor unions have embraced the idea: both the Korean Confederation of Trade Unions and the Federation of Korean Trade Unions have voiced support. Business leaders, however, warn that shorter schedules could erode competitiveness, particularly for smaller firms already struggling to match the resources of conglomerates. Still, early adopters suggest that flexibility can pay off. SK Telecom and its affiliate SK Square run a “Happy Friday” system that allows employees to log 80 hours over two weeks and take Fridays off. The companies also offer workers over 50 a two-year paid sabbatical to explore new opportunities before retirement. Samsung Electronics permits staff to design their own schedules as long as they meet a 40-hour weekly average, while LG Electronics has introduced self-directed time management, letting employees choose arrival and departure times within the same weekly limit. Both companies report positive feedback. Hunet, a corporate training firm, went further. In July 2022 it became one of the first South Korean companies to adopt a four-day week outright. The change boosted job applications threefold, raised first-half revenue by 20 percent year-on-year and delivered a 93.5 percent employee satisfaction rate. Local governments are also testing the waters. The provincial government of Jeju and Ulsan’s Jung-gu Office have introduced pilot 4.5-day schedules, while Gyeonggi's provincial government has signed agreements with dozens of firms to join a similar trial. Experts say the shift reflects changing social expectations but caution against rapid nationwide adoption. They point to uneven business conditions across industries, warning that what works for large conglomerates may not be sustainable for small and midsize firms. Some suggest that government incentives, rather than mandates, would be a better way to encourage voluntary adoption. Underlying the debate is a deeper concern about productivity. South Korea’s manufacturing output now stands at roughly 77 percent of the OECD average. As Chinese rivals dominate global markets, some economists argue that labor reform will fail unless paired with measures to improve efficiency and competitiveness. "Korea ranks 34th out of 38 OECD countries in work productivity, with the United States in first place. Korean workers could focus more on increasing output if four-day workweeks are implemented nationally," said Kim Dae-jong, professor of business at Sejong University. "In some sectors, the shortened work week could be implemented within a year." 2025-09-08 13:55:09