Hanwha Ocean to build Korea's next-generation icebreaking research vessel SEOUL, July 02 (AJP) - South Korea has taken a significant step in expanding its polar research capabilities with the selection of Hanwha Ocean as the preferred bidder to construct the country’s next-generation icebreaking research vessel. The vessel, to be built under the supervision of the Ministry of Oceans and Fisheries, is scheduled for delivery by December 2029. The new ship will more than double the capacity of the country’s first and only existing icebreaker, the Araon, launched in 2009. At 16,560 gross tons, the vessel will feature a Polar Class 3 hull capable of breaking through 1.5 meters of ice while operating in temperatures as low as minus 45 degrees Celsius. It is designed to function both forward and backward in heavy ice, allowing for greater flexibility in extreme conditions. Equipped with a dual-fuel LNG-electric propulsion system, the vessel will also adhere to tightening global emissions regulations. Its onboard amenities — including upgraded living quarters, lounges, and dining areas — are being designed to near cruise-ship standards to accommodate researchers during prolonged deployments in remote polar regions. “This next-generation platform is a complete departure from Araon,” a Hanwha Ocean spokesperson said. “It is designed as an entirely new scientific base at sea, optimized for future challenges in polar research and climate studies.” Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, brings extensive experience to the project. Since 2008, the company has focused on developing icebreaking capabilities, anticipating the future strategic importance of Arctic shipping lanes. It holds the global record for icebreaking LNG carriers built — 21 in total — with major construction peaks in 2014 and 2020. 2025-07-02 15:50:00

TRAVEL: The royal pines of Samcheok — A legacy etched in wood SAMCHEOK, July 02 (AJP) - In the mountainous reaches of Samcheok, Gangwon Province, lies Jungyongmyo, the tomb of General Yangmu, the father of King Mokjo and a fifth-generation ancestor of Yi Seong-gye, the visionary who founded the Joseon Dynasty. Surrounding this sacred ground is a remarkable forest of Geumgang pine trees, a distinctive species deeply woven into the fabric of Korean history and culture. This dense cluster boasts approximately 140,000 pine trees, many of them towering centenarians, aged between 100 and 120 years. What sets the Geumgang pine apart from its more common relatives is its unwavering upright growth. Unlike other pines that often exhibit bends or twists, these trees near Jungyongmyo ascend toward the heavens with remarkable straightness, their trunks reaching skyward in an almost disciplined formation. While pine trees broadly characterize Korea's diverse forests, distributed across its myriad mountains, the Geumgang pine is an anomaly. The bark, a thin and reddish sheath in its youth, matures to crack into a pattern reminiscent of a tortoise's shell. Younger, more vibrant specimens display a particularly striking crimson hue on their main trunks. Some of the most majestic Geumgang pines soar to approximately 35 meters, rivaling the height of a 10-story building. The inherent qualities of the Geumgang pine — its fine grain, exceptional hardness, and remarkable resistance to warping, cracking, and decay — made it the material of choice for royal construction during the Joseon Dynasty. Exclusively indigenous to Korea and found predominantly in the country's eastern areas, these trees were also integral to the creation of the Jaegung, the coffins reserved for kings and queens. Given the demand for aged trees for such sacred purposes, the Joseon court took the extraordinary step of designating specific mountains where Geumgang pines grew, placing them under stringent royal management. A historical stele in Sogwang-ri, Uljin, North Gyeongsang Province, stands as a testament to this ancient policy. In a practice that underscored their reverence for these natural giants, ancient Koreans observed elaborate rituals before felling an old Geumgang pine. The act of logging would commence with a resonant cry of "Eomyeongiyo!," which means "This is by royal command," repeated thrice. This invocation was a plea to the mountain spirit, seeking understanding and permission for an act undertaken at the king's behest. The historical significance of the Geumgang pine continued into modern times. In 2008, twenty trees from the very cluster near Jungyongmyo were meticulously selected and used in the extensive restoration of Sungnyemun in Seoul, which had been tragically consumed by fire in February of that year. Along the serene path leading to Jungyongmyo, visitors encounter the "Miinsong," or "beautiful pine tree." This particular specimen gained renown for its symbolic wedding to the Jeongipumsong, another celebrated pine located in Boeun-gun, North Chungcheong Province. At the time of this ceremonial union in 2001, the Miinsong was 95 years old, stood 32 meters tall, and measured 2.1 meters in circumference at breast height. Its genetic superiority ensures its continued role in propagating high-quality successor trees. To walk through a forest teeming with Geumgang pines is to enter a realm that evokes both mystery and awe. Their singular appearance and profound historical connection distinguish them entirely, offering a unique and compelling experience of Korea's natural heritage. Jungyongmyo/ AJP Cho Bo-hee 2025-07-02 15:43:58

FBI on hunt for disguised North Korean IT workers in crypto theft scheme SEOUL, July 2 (AJP) - U.S. federal investigators have been searching for four North Koreans allegedly involved in an IT scheme to steal cryptocurrency from blockchain firms and launder the illicit proceeds of their thefts. According to the U.S. Federal Bureau of Investigation (FBI), they were placed on a wanted list on Tuesday with a reward of up to US$5 million for information leading to their capture. "Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju, and Chang Nam Il are wanted for their alleged involvement with a scheme to steal virtual currency from two companies, valued at over $900,000 at the time of the theft, and to launder the proceeds of those thefts in 2022," it said, adding that they "speak English and Korean and have ties to the United Arab Emirates and Laos." The U.S. Department of Justice also indicted them the previous day, accusing them of using "fake and stolen personal identities to conceal their North Korean nationality, pose as remote IT workers, and exploit their victims' trust to steal hundreds of thousands of dollars." Such schemes "target and steal from U.S. companies and are designed to evade sanctions and fund the North Korean regime's illicit programs, including its weapons programs," it added. North Korea-linked hackers are believed to have stolen more than $1.34 billion in cryptocurrency through dozens of separate scams last year alone, according to a report by U.S.-based blockchain analysis firm Chainalysis. 2025-07-02 14:25:57

Inflation hits five-month high in South Korea as food prices climb SEOUL, July 02 (AJP) - South Korea’s consumer inflation edged higher in June, returning to the 2 percent range after a brief dip, as rising food and seafood prices fueled by warming ocean temperatures drove costs upward, government data showed Wednesday. The Consumer Price Index rose 2.2 percent year-on-year, up from 1.9 percent in May, according to Statistics Korea. The index reached 116.31, based on 2020 prices set at 100 — the fastest rate of inflation since January. Processed food prices led the acceleration, jumping 4.6 percent from a year earlier, the highest since November 2023. The category alone contributed 0.39 percentage points to headline inflation. Among the standouts: bread rose 6.4 percent, coffee surged 12.4 percent, and ham and bacon were up 8.1 percent. Instant noodles — the subject of political scrutiny after recent presidential comments — climbed 6.9 percent, the steepest rise since September last year. Seafood prices also spiked, rising 7.4 percent year-on-year, the sharpest increase since March 2023. Mackerel soared 16.1 percent, croaker rose 10.6 percent, and squid gained 6.3 percent — trends attributed in part to changing ocean conditions driven by climate change. The Ministry of Economy and Finance reiterated its commitment to managing price pressures, pointing to heightened weather-related risks and volatile international energy markets. Officials said they would continue discount programs for agricultural and fishery goods and maintain tariff quotas on key food imports. As part of a broader 46 billion won price stabilization package announced last month, the government has expanded summer cabbage reserves from 23,000 tons to 36,000 tons and will introduce new quota tariffs covering 10,000 tons of mackerel between July and December. 2025-07-02 14:24:54

US set to impose new tariffs on Korean goods as steel, automobile exports stumble SEOUL, July 2 (AJP) - South Korea’s exports declined in the first half of 2025, as mounting U.S. tariffs on key goods — including steel and automobiles — weighed heavily on trade, with additional duties of up to 15 percent set to take effect next week. According to data released Tuesday by the Ministry of Trade, Industry and Energy, exports fell 0.03 percent year-on-year to $334.7 billion from January to June. While the drop appears slight, officials say the underlying trends are alarming, especially with heightened trade tensions expected to escalate further when a new round of U.S. tariffs begins July 8. Exports to the United States fell 3.7 percent during the period, marking the first half-year decline since the onset of the COVID-19 pandemic in early 2020. Steel shipments to the U.S. tumbled 11.2 percent after the Trump administration raised tariffs from 25 percent in March to 50 percent by June. Auto exports were hit even harder, plunging 16.8 percent following the imposition of a 25 percent duty on Korean-made vehicles in April. General machinery exports dropped 16.9 percent amid sluggish investment in American industrial facilities. “The tariff shocks are now showing up clearly in the numbers,” a senior trade ministry official said. “And the next wave could be even more disruptive.” The looming tariffs — authorized under an executive order signed in March — will target a broad array of Korean goods not previously subject to levies. The U.S. granted a 90-day reprieve in April after financial markets reacted sharply to the initial announcement, but the White House has indicated it will allow the new tariffs to proceed starting next Monday. The trade pressures come at a time of broader global uncertainty, with Korea’s exports to China also falling 4.6 percent and to Japan by 3.8 percent in the first half. While steel and autos bore the brunt of the current tariff regime, one notable outlier has been the semiconductor sector. Exports of chips to the U.S. surged 14.7 percent year-on-year to $73.3 billion, driven in part by stockpiling ahead of possible sanctions. Semiconductors accounted for 22 percent of Korea’s total exports, hitting a record monthly high of $15 billion in June. South Korea and the U.S. held detailed negotiations in Washington from June 22 to 27, but failed to reach a breakthrough. While the U.S. pushed for changes to Korean regulations — including the 30-month age limit on imported beef and restrictions on genetically modified products — Seoul argued that the new tariffs violate existing free trade agreements and could undermine decades of bilateral economic cooperation. Forecasts for the rest of the year remain gloomy. The Korea International Trade Association projects exports will fall 3.8 percent in the second half, bringing the full-year total to $668.5 billion, down 2.2 percent from 2024. The Korea Institute for Industrial Economics & Trade offered a similar outlook of $670.6 billion, a 1.9 percent decline. 2025-07-02 14:16:20

HD Hyundai to merge key construction units SEOUL, July 02 (AJP) - HD Hyundai has unveiled plans to merge two of its major subsidiaries — HD Hyundai Construction Equipment and HD Hyundai Infracore — into a single, unified entity tentatively named HD Construction Equipment. The boards of both companies approved the merger plan in meetings held on July 1. The new company is expected to be officially launched on Jan. 1, 2026, pending regulatory approvals and a shareholder vote. Once combined, the company is projected to generate annual revenues of around 8 trillion won, or approximately $5.8 billion, positioning it as a formidable player in the global construction equipment market. The move comes as manufacturers worldwide face growing economic headwinds and fierce competition in the heavy machinery sector. HD Hyundai said the restructuring is intended to sharpen the company's response to shifting market dynamics, accelerate innovation, and enhance operational efficiency through greater scale. 2025-07-02 13:37:15

North Korea's massive coastal tourist zone opens after epic delay SEOUL, July 2 (AJP) - North Korea has opened its long-awaited tourist zone in the eastern coastal area of Kangwon Province after years of construction delays, state-run media reported on Wednesday. According to the country's state-run Korean Central News Agency (KCNA), the "magnificent tourist attraction which is unparalleled in the world" was opened to the public the previous day with "many guests" on the first day of its grand opening. Located in the southeastern port city of Wonsan, the zone along the scenic beaches is one of North Korean leader Kim Jong-un's ambitious projects to boost the impoverished country's tourism industry as a source of hard currency. The grand opening came about a week after leader Kim Jong-un inspected the site with his wife and daughter last Tuesday. Resort and leisure amenities including about 40 lodgings accommodating up to 20,000 guests and other services are currently available to domestic travelers, with plans to attract foreign visitors later this month. The zone is reportedly equipped with shopping and entertainment facilities including restaurants serving the country's signature Pyongyang-style cold noodles, ginseng tea, beer, and more. Kim's pet project was initially slated for completion by April 2019 to coincide with the birthday of his grandfather and regime founder Kim Il-sung, but construction was immensely delayed due to difficulties in obtaining materials amid international sanctions. 2025-07-02 11:43:36

Prosecution chief steps down citing concerns over prosecutorial reform SEOUL, July 1 (AJP) - Prosecutor-General Shim Woo-jung tendered his resignation on Tuesday, citing concerns over prosecutorial reform, one of the major priorities expected to be pursued by the new administration. In a brief written statement, Shim said the reform, which would involve a major overhaul of the prosecution, should be implemented through thorough discussions among scholars, experts, and other professionals, as it is directly related to the "fundamental rights of all citizens." Shim, who served about nine months of his two-year term, also warned, "If implemented with a set deadline along with a fixed conclusion, that could lead to many unexpected side effects." He then added that he felt it was the right time to leave his post, citing "various circumstances." His resignation comes shortly after President Lee Jae-myung named his close aide and five-term lawmaker Jung Sung-ho as the new justice minister earlier in the week, who is expected to spearhead the reform. Amid long-held criticism over the prosecution exercising excessive powers, the Lee administration has vowed to implement sweeping prosecutorial reform by separating investigations from indictments. Shim will officially step down at a ceremony scheduled for Wednesday. 2025-07-01 17:32:26

S. Korea greenlights national consumption coupon plan amid heated budget review SEOUL, July 01 (AJP) - As South Korea’s National Assembly continues to deliberate the government’s proposed 30.5 trillion won ($22.5 billion) supplementary budget, lawmakers on Tuesday approved one of its most contentious items, a 13.2 trillion won plan to distribute universal consumption coupons. The decision was made as part of a broad policy review session, where ruling and opposition parties clashed over fiscal responsibility and the effectiveness of key spending proposals. The "people's recovery coupons" are designed to stimulate domestic consumption and ease the burden of rising living costs, particularly for low-income households. Every South Korean citizen will receive at least 150,000 won, with higher amounts granted based on income level and region. The second-lowest income tier will receive 300,000 won, while basic livelihood recipients will receive 400,000 won. An additional 20,000 won will go to residents in rural areas experiencing population decline. A second round of payments will provide 100,000 won to 90 percent of the population, excluding the top 10 percent based on health insurance contribution records. The total benefit per person could reach up to 520,000 won. The coupons will be distributed as regional gift certificates, prepaid cards, or points added to existing credit and debit cards. The program, a central campaign pledge of President Lee Jae-myung, became the focal point of political disagreement during the National Assembly's review of the broader supplementary budget. The ruling Democratic Party argued that the coupons would provide a timely economic boost and direct relief to struggling households and small businesses. The conservative People Power Party countered that the initiative amounted to reckless fiscal populism, warning that it would offer only short-term stimulus while increasing the national debt and shifting the burden to future generations. Democratic lawmakers pushed back by citing the comparatively low debt-to-GDP ratio of South Korea relative to other major economies, including Japan, the United States, France, and Britain. The Interior and Safety Committee approved the coupon funding through bipartisan agreement, including a revision requiring the central government to shoulder the full 13.2 trillion won cost. The National Assembly also approved six trillion won in funding for local currency vouchers under the regional gift certificate program, which passed without changes. While the consumption coupon plan has cleared a key hurdle, the rest of the 30.5 trillion won supplementary budget remains under review. Lawmakers continue to debate other major components, including a 1.4 trillion won debt-relief package for long-term delinquent borrowers, additional support for energy-efficient appliance purchases, and subsidies for cultural consumption such as movie tickets, art exhibitions, and sports events. The government expects the full supplementary budget, once passed, to raise the national GDP growth rate by 0.1 percentage points in 2025. 2025-07-01 17:26:12

Korean biotech firm DewCell partners with Thermo Fisher on artificial platelet project SEOUL, July 1 (AJP) - DewCell, a South Korean biotechnology company specializing in stem cell-based therapies, announced Tuesday that it has launched a collaboration with Thermo Fisher Scientific of the United States to develop a customized culture medium for the large-scale production of artificial platelets. The partnership will focus on creating a serum-free, animal-origin-free medium tailored specifically to platelet cell cultivation. DewCell said the joint effort aims to maximize manufacturing efficiency while adhering to stringent safety and regulatory standards. Lee Min-woo, DewCell’s chief executive, said in a statement the firm now positioned to simultaneously advance production optimization, material safety, and global compliance through a fully customized solution for artificial platelet production. Artificial platelets — used to support blood clotting in patients with bleeding disorders or undergoing surgery — are seen as a potential answer to the growing global shortage of blood donations. As the need for reliable, scalable blood products intensifies, biotech firms around the world have accelerated efforts to develop synthetic or lab-grown alternatives. DewCell said it plans to expand partnerships with global life science companies as it pushes to commercialize its proprietary stem cell-based platelet manufacturing technology. Thermo Fisher Scientific, based in Waltham, Massachusetts, is one of the world’s largest suppliers of laboratory equipment and biomanufacturing services. 2025-07-01 16:39:02