Journalist

John Na
  • Seoul holds emergency meeting after Trumps tariff move on chips and critical minerals
    Seoul holds emergency meeting after Trump's tariff move on chips and critical minerals SEOUL, January 15 (AJP)-The South Korean government moved into emergency response mode Thursday after the White House issued sweeping proclamations under Section 232 of the Trade Expansion Act, targeting semiconductors and critical minerals on U.S. national security grounds. Minister of Trade, Industry, and Energy Kim Jung-kwan convened an emergency meeting Thursday to review the details of President Donald Trump’s proclamations and map out Seoul’s next steps as Washington signaled a harder line on advanced chips and strategic materials. Trump on Wednesday (local time) signed a proclamation imposing a 25 percent tariff on certain advanced semiconductors imported into the United States and then re-exported, including Nvidia’s flagship artificial-intelligence processor, the H200. The measure takes effect at 12:01 a.m. EST on Jan. 15. The action followed a Commerce Department report submitted in late December under Section 232, which concluded that semiconductor imports — including manufacturing equipment and derivative products — pose a threat to U.S. national security by deepening reliance on foreign supply chains. Under the proclamation, the tariff applies narrowly to advanced computing chips that do not contribute to the build-out of U.S. technology supply chains, while exempting chips used in U.S. data centers, research and development, public-sector applications and other domestic uses. The White House warned, however, that broader tariffs could follow after negotiations with trading partners conclude. “The President could soon impose more expansive tariffs on semiconductors and their derivative products to encourage manufacturing in the United States,” the White House said in a fact sheet, adding that a tariff-offset program may be introduced for companies investing in U.S. production. Chairing Thursday’s meeting, Kim reviewed South Korea’s actions since Washington launched its Section 232 investigations, including the submission of written comments to U.S. authorities. He instructed officials to maintain close contact with industry, monitor developments in real time and analyze potential impacts to minimize damage to Korean companies. Separately, the ministry holds separate industry meetings later Thursday — one on semiconductors and another on critical minerals — to assess exposure and coordinate response strategies with manufacturers. Kim said the government would maintain “constant readiness” not only for the newly announced Section 232 measures, but also for a pending U.S. Supreme Court ruling on reciprocal tariffs under the International Emergency Economic Powers Act, signaling broader trade uncertainty ahead. The proclamation has drawn particular attention in Seoul because it explicitly includes Nvidia’s H200 and AMD’s MI325X among the covered products. Although Nvidia is a U.S. company, its advanced AI chips are manufactured almost entirely by Taiwan Semiconductor Manufacturing Co. (TSMC), meaning they are imported into the United States before being re-exported, placing them squarely within the scope of the tariff. Trump had previously indicated in December that H200 exports to China would be allowed, while suggesting that 25 percent of the sales value would be paid to the U.S. government — a remark that did not appear in the formal proclamation. The Commerce Department on Tuesday finalized revisions to export rules allowing limited H200 shipments to China, subject to strict conditions, including a cap tying China-bound volumes to no more than 50 percent of Nvidia’s U.S. domestic sales. The dual track — easing export controls while imposing Section 232 tariffs — underscores Washington’s attempt to balance national security concerns with preserving the global competitiveness of U.S. chipmakers. Trump also signed a separate proclamation directing the start of negotiations with trading partners to ensure critical-mineral imports align with U.S. security interests. Depending on the outcome, the Commerce Department and the U.S. Trade Representative could consider measures such as minimum import prices for certain minerals. Trade minister Yeo Han-koo has put off his return to Seoul to assess potential impact on Korean companies in Washington, the ministry added. 2026-01-15 14:14:31
  • South Korea trade chief tells US officials, lawmakers Coupang probe is not trade issue
    South Korea trade chief tells US officials, lawmakers Coupang probe is not 'trade issue' SEOUL, January 15 (AJP) - South Korea’s trade minister Yeo Han-koo has told U.S. officials and lawmakers that a domestic probe into e-commerce firm Coupang should not be interpreted as a diplomatic or trade issue, officials here said on Thursday. Yeo made the remarks during a visit to Washington from Jan. 11 to 14, where he held outreach meetings with U.S. lawmakers, government officials and industry representatives, according to the Ministry of Trade, Industry and Energy. In a series of meetings and roundtables with U.S. senators and representatives, trade associations, think tanks and business officials, Yeo focused on addressing U.S. concerns over South Korea’s digital legislation, which has recently drawn attention in Washington. He warned against portraying the Coupang issue as a “crackdown on a U.S. company,” saying it would be inappropriate to broadly interpret the matter as a diplomatic or trade dispute, the ministry said. South Korean authorities are investigating e-commerce giant Coupang over the handling of a large-scale personal data breach and related business practices, a case that has drawn public attention and scrutiny from U.S. policymakers. South Korean authorities are examining how the breach occurred and whether Coupang, listed in the U.S., complied with reporting and protection obligations under the Korean law. Seoul has stressed that the probe is a domestic regulatory matter aimed at protecting consumers and should not be viewed as a trade or diplomatic dispute. Yeo also met with U.S. Trade Representative Jamieson Greer to discuss the status of implementing bilateral non-tariff commitments outlined in a joint fact sheet released after a South Korea-U.S. summit in November. With a ruling pending on whether reciprocal tariffs imposed by the U.S. administration are unlawful, Yeo told U.S. officials that South Korea — which reached a tariff agreement with Washington — should not be treated unfavorably compared with other countries, the ministry said. Yeo also met Russell Vought, director of the White House Office of Management and Budget, to review follow-up steps after tariff negotiations and agreed to strengthen investment cooperation in key industries, including shipbuilding. “Since the tariff negotiation agreement, expectations in the United States for bilateral trade and investment cooperation have generally been high, but risk factors such as digital trade issues and the U.S. Supreme Court ruling needs to be carefully managed,” a ministry official said. The official added it is important to clearly explain South Korea’s policy intentions and background to the U.S. administration, Congress and industry. 2026-01-15 10:18:44
  • KEPCO eyes US market with Columbia grid project
    KEPCO eyes US market with Columbia grid project SEOUL, January 14 (AJP) - Korea Electric Power Corp. (KEPCO) said Wednesday it has signed a technology cooperation agreement with the city of Columbia, S.C., as it looks to expand its business in the U.S., the world’s largest electricity market. KEPCO said it signed a memorandum of understanding on power distribution grid technology cooperation on Jan. 13, local time, at Columbia City Hall. The agreement was signed by Jung Chi-kyo, KEPCO’s executive vice president, and Columbia Mayor Daniel Rickenmann. The partnership is aimed at adapting KEPCO’s distribution grid operating technologies to U.S. market conditions. The company plans to pursue demonstration projects and commercialization in the U.S. for its in-house systems, including an advanced distribution management system, or ADMS, and an energy management platform known as K-BEMS. Under the agreement, KEPCO and the city of Columbia will form a joint working group involving KEPCO’s research arm, the Korea Institute of Energy Technology, the Electric Power Research Institute and the University of South Carolina. The group will develop a U.S.-tailored distribution grid operations solution and carry out a demonstration project using Columbia’s power grid. KEPCO said Columbia’s plan to source 100 percent of its electricity from renewable energy by 2036 has heightened the need to improve efficiency in aging distribution networks and to manage the growing use of distributed energy resources. Applying KEPCO’s operating technology is expected to enhance grid safety and help lower energy costs, the company said. KEPCO described the project as its first step into the U.S. power distribution market, saying it will use the Columbia project as a reference case for expanding South Korean grid technologies more broadly across the U.S. power sector. “KEPCO’s distribution operations know-how and proven technology can contribute to improving service quality and supporting local economic development,” Jung said. 2026-01-14 14:42:25
  • South Korea to chair global renewable energy agency
    South Korea to chair global renewable energy agency SEOUL, January 13 (AJP) - South Korea has been selected to chair the next General Assembly of the International Renewable Energy Agency, a role that will place Seoul at the center of global discussions on the expansion of clean energy. The Ministry of Climate, Energy and Environment and the Foreign Ministry said Tuesday that South Korea was designated as chair at IRENA’s 16th Assembly, held Jan. 11–12 in Abu Dhabi, the United Arab Emirates. The chairmanship runs for one year. Founded in 2011, IRENA promotes the development and broader adoption of renewable energy worldwide. The organization has 171 members, including the European Union. Its annual Assembly is the agency’s highest decision-making body. South Korea has served on IRENA’s council since the organization’s early years, but this marks the first time the country has been appointed to lead the Assembly. As chair in 2027, South Korea will preside over Assembly meetings, help shape the agenda and work to foster cooperation among member states to accelerate the deployment of renewable energy. The government said it expects the role to bolster international coordination around its policy priorities, including a renewables-led energy transition and broader efforts toward decarbonization and green growth. Lee Won-ju, director general for energy transition policy at the climate ministry, said the appointment reflects international confidence in South Korea’s clean-energy strategy. “By successfully hosting the next Assembly, we will enhance South Korea’s standing in global clean-energy governance and produce tangible outcomes in international cooperation, including securing overseas projects,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-13 08:41:50
  • South Koreas Daebang, Woomi, Jungheung builders face probe for unfair internal dealings
    South Korea's Daebang, Woomi, Jungheung builders face probe for unfair internal dealings SEOUL, December 31 (AJP) - South Korea’s antitrust watchdog said on Wednesday it had uncovered four cases of unfair internal transactions involving large business groups this year, imposing a combined 93.5 billion won ($70 million) in fines and referring three companies to the prosecution. Corrective orders and fines were issued against Daebang Construction, Jungheung Construction, Woomi Construction and CJ Group, while the three builders were reported to prosecutors, according to the Fair Trade Commission. The commission said it identified violations of the Monopoly Regulation and Fair Trade Act, including unfair support among affiliates and the provision of undue benefits to them. Woomi Construction received the largest penalty, 48.3 billion won, followed by Daebang Construction with 20.5 billion won, Jungheung Construction with 18 billion won, and CJ Group with 6.5 billion won. In Woomi’s case, the company, while acting as the main developer on several apartment projects, selected five affiliates with limited construction experience as non-lead contractors and allocated them substantial work volumes. The practice was found to have significantly undermined fair competition in the housing construction market. Daebang Construction and two subsidiaries were found to have resold large parcels of public housing land they had been allocated to another affiliate, Daebang Industrial Development, and its five subsidiaries, effectively transferring development project rights within the group. Jungheung Construction was penalized for providing credit guarantees to support funding for housing and industrial projects run by family-controlled affiliates. The commission said the support enabled those affiliates to raise funds, including through asset-backed and other securitized loans. 2025-12-31 14:19:18
  • Korea faces unavoidable shift toward renewables, nuclear power: energy minister
    Korea faces unavoidable shift toward renewables, nuclear power: energy minister SEOUL, December 30 (AJP) - South Korea faces an unavoidable shift in its energy mix as it confronts the climate crisis, requiring a combination of carbon-free renewable energy and nuclear power while gradually phasing out coal and gas, Climate, Energy and Environment Minister Kim Sung-hwan said on Tuesday. Kim made the remarks at the First Energy Mix Policy Forum held at the National Assembly, calling for a pragmatic and science-based approach to energy policy. Kim said the Moon Jae-in administration sought to advance an energy transition over five years but became mired in debate over a nuclear phaseout, slowing efforts to retire coal-fired power plants. He said the subsequent Yoon Suk Yeol administration took the opposite approach by prioritizing nuclear power while neglecting the expansion of renewable energy. “As a result, South Korea’s share of renewable energy now ranks last among OECD countries,” Kim said. South Korea’s current energy mix is roughly 30 percent nuclear, 30 percent coal, 30 percent gas and 10 percent renewables, Kim said, adding that restructuring the mix would be foundational to the country’s future economic development. The Lee Jae Myung administration has pledged to end coal-fired power generation by 2040, a target that is also reflected in the legally mandated basic plan for long-term electricity supply and demand. He said this would require a concrete roadmap for phasing out coal and determining a sustainable future energy mix. He also pointed to structural limits to renewable energy expansion, citing intermittency as a major challenge. Kim said South Korea, unlike parts of Europe, cannot rely on cross-border power grids and functions effectively as an “energy-independent island.” Its relatively short east-to-west span also limits solar generation hours, making it difficult to secure stable power supply when sunlight is unavailable, he said. Replacing that gap with energy storage systems or pumped-storage hydropower is not straightforward in practice, Kim added. On nuclear power, Kim said it has long served as South Korea’s most important energy source and that the country has the highest concentration of nuclear power plants per unit of land area in the world. He cautioned, however, that nuclear power carries significant risks in the event of an accident. Kim said South Korea has not operated its nuclear plants flexibly, limiting their ability to complement renewable energy sources. Determining how to effectively combine nuclear and renewables is an unavoidable national task, he said. President Lee has instructed officials to avoid ideological approaches to energy policy and instead rely on scientific evidence and consensus-based problem solving. 2025-12-30 15:58:29
  • K-Sure provides $1.7 billion financing for Verizons purchase of Samsung devices
    K-Sure provides $1.7 billion financing for Verizon's purchase of Samsung devices SEOUL, December 18 (AJP) - Korea Trade Insurance Corp. (K-Sure) said on Thursday it will provide $1.7 billion in financing for a project under which Verizon Communications Inc., the largest telecommunications operator in the United States, will purchase mobile devices from Samsung Electronics. Verizon, which K-Sure said has about 150 million subscribers and the largest share of the U.S. telecom market, will use the entire amount to buy Samsung-made communications devices, including smartphones and tablets. K-Sure has offered so-called “device financing” to major telecom operators worldwide, linking financial support to purchases of South Korean products. Earlier this year, the agency provided $700 million in financing to BCE Inc.’s Bell Canada, Canada’s largest telecom operator, to support purchases of South Korean communications devices. It also extended financing of 100 million euros to a major telecom operator in Poland in 2021 and 350 million euros to a major telecom operator in France in 2023, it said. K-Sure President Jang Young-jin said the agency is expanding support for exports of consumer goods, including mobile and communications devices, as it moves beyond a strategy focused mainly on capital goods exports amid rising global protectionism. “We will continue to broaden financing support for top-tier global buyers that choose South Korean products,” Jang said, adding that the goal is to strengthen the competitiveness of South Korean companies in overseas markets. 2025-12-18 09:58:54
  • South Korea weighs stockpiling as copper prices break records
    South Korea weighs stockpiling as copper prices break records SEOUL, December 09 (AJP) - Copper prices have surged to record highs as supply disruptions and rising demand from emerging technologies tighten the global market. The South Korean government plans to secure a 60-day stockpile of key minerals by next year. Lawmaker An Do-geol of the Democratic Party has called for an additional 39,000 tons of copper reserves over the next five years to support expanding power grids and data center infrastructure. According to the London Metal Exchange, copper prices peaked at $11,645 per metric ton on Dec. 5, surpassing the previous record of $11,104 set in May 2024. Prices are up around 34 percent so far this year. Demand for the metal, a critical input for semiconductors, electric vehicles and power infrastructure, is accelerating as growth in artificial intelligence data centers and electrification expands. Meritz Securities of South Korea estimates that so-called non-traditional copper demand will rise from 6.55 million tons this year to 14.15 million tons by 2030. Supply has been constrained by disruptions at major mines, including the closure of Panama’s Cobre Panama mine last year and a landslide at Indonesia’s Grasberg mine. Analysts say these disruptions are unlikely to be resolved quickly, heightening concerns over structural shortages. Major investment banks have warned of rising risks, with Goldman Sachs forecasting that copper prices could climb to $15,000 per ton next year, accompanied by increased price volatility. Experts say a long-term strategy is needed to reduce supply risks. Oh Jung-seok, a specialist at the International Finance Center, said the strategic importance of copper is increasing rapidly amid intensifying global competition, underscoring the need for diversified supply chains and stronger stockpiling policies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-09 09:49:11
  • South Korea takes steps to safeguard rare earths, critical energy resources
    South Korea takes steps to safeguard rare earths, critical energy resources SEOUL, December 05 (AJP) - South Korea has launched a national council to stabilize supplies of rare earth elements and expand strategic reserves, amid heightened global supply chain volatility. The council, chaired by Trade, Industry and Energy Minister Kim Jeong-gwan, convened for the first time on Friday with vice-ministers from related ministries to review a comprehensive rare earth supply chain strategy. The body will oversee the government's resource security policies, supported by an expert advisory group tasked with providing technical guidance on key commodities such as critical minerals, natural gas, and oil. According to the energy ministry, the council laid out three core initiatives to strengthen resource security: operating an early warning system for potential disruptions, establishing a public–private crisis response mechanism, and ensuring stable procurement of essential resources. “With intensifying U.S.–China competition over rare earths and rising demand for critical minerals driven by electric vehicles and batteries, we will strengthen national resource security in a systematic manner through the newly launched council,” Minister Kim said. Using an integrated information platform, the government will centralize supply chain data to improve early detection capabilities. Major companies will be designated as key institutions required to report any disruptions or unusual price movements. So far, authorities have named 18 core supply institutions and 20 key demand institutions across sectors including critical minerals, energy, and uranium, the ministry said. To mitigate external shocks, Seoul will expand reserves of critical minerals and crude oil and ease import restrictions on recycled materials while supporting investments in recycling technologies. As part of efforts to safeguard advanced industries such as automotive, semiconductors, and batteries, the government will diversify rare earth import sources and boost domestic production. The existing rare earth task force will be expanded to monitor market conditions and coordinate emergency response, trade negotiations, overseas resource development, and R&D. South Korea will also increase crude oil stockpiles and adjust the composition of reserves to reflect changes in domestic demand. Safety and protective systems at reserve facilities will also be upgraded. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-05 08:56:09
  • INTERVIEW: KEAD chief aims to expand job opportunities for disabled in emerging industries
    INTERVIEW: KEAD chief aims to expand job opportunities for disabled in emerging industries SEOUL, December 2 (AJP) - Dec. 3 marks the UN's International Day of Persons with Disabilities, highlighting the importance of employment opportunities for the disabled amid rapid changes in the labor market. The Korea Employment Agency for Persons with Disabilities (KEAD) is at the forefront of this effort. Lee Jong-seong, KEAD's head, is focused on creating jobs for the disabled. "The expansion of artificial intelligence (AI) and digital industries is reshaping the job market," Lee said. "We aim to uncover new roles in future industries to provide more opportunities for the disabled." KEAD is prioritizing job development in new industries, expanding digital training, and supporting companies in adopting new roles. Challenges remain such as low employment rates for the severely disabled and insufficient diversity in the job market. Lee said the government plans to raise the mandatory employment quota for people with disabilities to 3.5 percent by 2029, emphasizing KEAD's role in helping companies comply through tailored consulting and promoting best practices. Lee highlighted the need for improved perceptions of disabled workers, despite several years of mandatory workplace education. KEAD is enhancing experience-based programs and utilizing various media channels to help change these perceptions. Despite an overall rise in employment, the employment rate for people with disabilities declined from 50.4 percent in 2022 to 48.4 percent in 2024. KEAD aims to reverse this trend by expanding quality jobs and relevant support services including AI-driven job-matching systems. Lee aims to improve workplace practices by offering higher subsidies for additional hires and supporting marketing efforts for small businesses. "Our goal is to transform lives and enhance social diversity and sustainability," Lee said, urging continued support and attention. * This article, published by Aju Business Daily, was translated by AI. 2025-12-02 15:57:41