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

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 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 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 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 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

[[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 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 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 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