US tariffs on steel-based appliances rattle key industry players of South Korea SEOUL, June 16 (AJP) - South Korean manufacturers are facing mounting trade pressures as the United States escalates its protectionist policies under the Trump administration. In a fresh blow to exporters, the U.S. will impose new 50 percent tariffs on home appliances made from steel derivatives starting June 23, expanding a web of duties that now encompasses everything from industrial metals to consumer goods — and potentially, automobiles. Samsung Electronics and LG Electronics, two of South Korea’s largest home appliance producers, are scrambling to adjust. Efforts to pivot supply chains toward American steel have proved difficult, executives say, citing both logistical hurdles and cost concerns. The tariff expansion builds on measures first introduced in March, when the White House began steadily broadening levies on steel, aluminum, and related products. Industry officials warn that using U.S.-sourced materials to avoid the new penalties could erode profit margins and expose sensitive information. “Sharing steel and aluminum content data for tariff calculations raises significant trade secret concerns,” one official said. The impact is already visible in trade data. According to the Korea International Trade Association, exports of refrigerators to the United States plummeted 35.3 percent year-over-year in the first four months of 2025, falling to $415.8 million. Shipments of washing machines and similar appliances declined 17 percent to $175.8 million over the same period. The uncertainty has also spread to South Korea’s auto sector. On June 12, President Trump signaled that the existing 25 percent tariff on imported vehicles could be raised further. South Korean car exports to the U.S. fell 32 percent in May from a year earlier to $1.84 billion, according to the Ministry of Trade, Industry and Energy. Hyundai Motor Group saw its U.S. sales growth slow sharply to 6.7 percent in May from 16.3 percent in April. Currency fluctuations have added another layer of complexity. The won has strengthened in recent weeks, with the exchange rate falling from the 1,400 range in April to the 1,300s last month — undermining the price competitiveness of Korean exports. To mitigate the fallout, Hyundai is seeking to diversify beyond the U.S. market. The company sold 138,000 vehicles in China between January and April, an 11.8 percent increase over the same period in 2024. 2025-06-16 14:28:11

LG Chem sells water treatment business to private equity fund SEOUL, June 16 (AJP) - LG Chem has agreed to sell its water treatment filter business to Glenwood Private Equity for 1.4 trillion won (approximately $1 billion), as South Korea’s largest chemical company accelerates efforts to streamline operations and sharpen its focus on high-growth sectors. The deal, signed on June 13, will transfer LG Chem’s Water Solution unit to Korea Water Solution Holdings, a special purpose entity established by Glenwood PE. The Water Solution business, built on reverse osmosis membrane technology, ranks as the world’s second-largest provider in seawater desalination. LG Chem entered the sector in 2014 through its $200 million acquisition of California-based NanoH2O. Despite its technical prominence, the unit accounted for only 0.45 percent of LG Chem’s consolidated revenue last year, generating 222 billion won in sales, with total assets of 377 billion won. LG Chem said the divestiture will allow the company to redirect capital and internal capabilities toward three strategic pillars: battery materials, eco-friendly materials, and pharmaceuticals. The move is part of a broader corporate restructuring in response to prolonged weakness in the petrochemical industry. At a recent executive meeting, LG Group Chairman Koo Kwang-mo underscored the importance of “selection and concentration,” urging affiliates to focus on areas with sustainable competitive advantages, build high entry barriers, and align capital expenditures with long-term strategy. For Glenwood PE, the acquisition represents a continuation of its carve-out investment strategy. The private equity firm plans to inject an additional 200 billion won into the business, including funding for a fourth production facility. The expansion is intended to boost global competitiveness and enhance responsiveness to increasing demand from both new and existing customers. 2025-06-16 13:50:25

North Korea on track for up to 90 nuclear warheads, report says SEOUL, June 16 (AJP) - With nuclear-armed countries including China, Russia and the U.S. racing to bolster their nuclear arsenals, North Korea could increase its stockpile of nuclear warheads to as many as 90, according to a recent report. In its annual yearbook released Monday, the Stockholm International Peace Research Institute (SIPRI) said North Korea "had assembled approximately 50 nuclear warheads and had sufficient fissile material to potentially produce up to 90 warheads" as of January this year, adding that its nuclear warhead arsenal is "projected to expand in the coming years." The institute also estimated that the global inventory of nuclear warheads stood at 12,241 as of January, a slight drop from 12,405 from a year ago mainly due to Russia and U.S. "dismantling older systems." Despite the overall decrease in inventory, major powers continued to modernize their nuclear capabilities and expanded their military stockpiles of usable warheads, which rose from 9,585 to 9,614 over the same period. In particular, the report highlighted China's rapid nuclear buildup. "China has boosted its nuclear arsenal by 100 warheads in just one year, growing from an estimated 500 to over 600 warheads in 2025," the report pointed out. "Beijing now possesses more warheads than the U.K. and France combined, and is expanding its arsenal faster than any other nation." But Russia and the U.S. still possess "nearly 90 percent of the world's existing nuclear weapons," with 5,459 and 5,177 warheads respectively, while China remains a distant third. The report warned the nine nuclear-armed countries – China, France, India, Israel, North Korea, Pakistan, Russia, the U.K. and the U.S. – "continue to upgrade their nuclear arsenals" amid rising global tensions. "The era of reductions in the number of nuclear weapons in the world, which had lasted since the end of the Cold War, is coming to an end. Instead, we see a clear trend of growing nuclear arsenals, sharpened nuclear rhetoric and the abandonment of arms control agreements," the report wrote. The institute also raised the possibility that its latest findings could reignite debate in South Korea over acquiring nuclear weapons amid growing threats from North Korea. 2025-06-16 11:21:56

Chinese diplomat joins Seoul palace walk, highlights cultural connection SEOUL, June 15 (AJP) - Fang Kun, Deputy Chief of Mission at the Chinese Embassy in Seoul, said he believes walking tours like the one held Saturday offer a meaningful way to appreciate Korea's heritage and deepen ties between the peoples of China and South Korea. "I think this walking event gives everyone a chance to enjoy the beauty of Korea's historic palaces," Fang said during the opening ceremony of the 2025 Seoul Royal Palaces International Walk on Jun. 14. "Events like this help strengthen mutual understanding between our two countries. I hope everyone enjoys today, and I definitely want to join the next one." The annual event, co-hosted by Aju News Corporation and AJP, drew around 1,500 participants, including some 700 foreign nationals. The 6.3-kilometer (3.9-mile) route began at the Uijeongbuji Historic Site Square and passed through central Seoul landmarks including Gwanghwamun, Gyeongbokgung Palace, the front of the former presidential office's Chun Chu Gate, Changdeokgung Palace, and Changgyeonggung Palace. The opening ceremony was attended by several dignitaries, including Kwak Young-kil, Chairman of Aju News Corporation, Lim Kwu-jin, President of Aju Business Daily, Seoul Mayor Oh Se-hoon, National Assembly member Kwak Sang-eon, Seoul Metropolitan Council Chairman Choi Ho-jung, council member Yoon Jong-bok, and Seoul Tourism Organization CEO Gil Ki-yeon. Fang was joined by other members of the diplomatic corps, including Arman Narbayev, Deputy Chief of Mission at the Embassy of Kazakhstan, and Naman Upadhyaya, First Secretary at the Embassy of India. Speaking to AJP after the ceremony, Fang said, "This is really the perfect season for walking in Seoul. On a day like today, with clear skies and fresh air, this event offers a great opportunity to experience the architecture and history of Korea's palaces, right in the middle of the city." He noted that a large portion of the foreign attendees were Chinese nationals living in South Korea. "From what I understand, about half of the foreign participants are Chinese residents here," he said. "Through cultural events like this, people can naturally experience Korean culture, and that helps broaden mutual understanding between our countries." Fang added, "Human exchange between Korea and China plays a key role in strengthening our relationship. I hope events like this continue to bring our people together more often." 2025-06-15 17:44:15

Over 1,500 join palace walk event in Seoul to promote cultural exchange SEOUL, June 15 (AJP) - With his son’s hand in his, Lee Bong-soo walked quietly through the grounds of Seoul’s royal palaces, taking in the scenes he had long wanted to share outside the pages of a textbook. "I always wanted to take my son to a palace, but the opportunity never really came up," said Lee, a resident of Goyang. "My workplace and home are far apart, which made it even harder. Palaces are full of historic sites and interesting things to see. My son has read a lot about them, but never had the chance to see them in real life. I wanted to give him that opportunity." Lee was among the roughly 1,500 participants, about 700 of them foreign nationals, who joined the 2025 Seoul Royal Palaces International Walk on Jun. 14. The event, co-hosted by Aju News Corporation and AJP, began at 8:40 a.m. with an opening ceremony and followed a 6.3-kilometer route through the heart of the capital. Starting from the Uijeongbu Site of State Council Historic Plaza, participants walked past Gwanghwamun, Gyeongbokgung Palace, the rear gate of the former presidential compound, then continued through Changdeokgung and Changgyeonggung palaces. By 9 a.m., the plaza near Gwanghwamun had filled with eager walkers. A slight morning overcast gradually gave way to blue skies, lightening the mood as the crowd set off. The opening ceremony welcomed key figures including Seoul Mayor Oh Se-hoon, Aju News Corporation Chairman Kwak Young-kil, Aju Business Daily CEO Lim Kwu-jin, National Assembly member Kwak Sang-eon, Seoul Metropolitan Council Chair Choi Ho-jeong, council member Yoon Jong-bok, and Seoul Tourism Organization CEO Gil Ki-yeon. Diplomatic guests included Fang Kun, Deputy Chief of Mission at the Chinese Embassy in Seoul, Arman Narbayev, Deputy Chief of Mission at the Embassy of Kazakhstan, and Naman Upadhyaya, First Secretary at the Embassy of India, underscoring the event's international character. "This kind of walking event is really good for health," Mayor Oh said in his welcoming remarks. "Seoul will continue doing its best to create an environment where citizens can enjoy walking, exercise, and cycling." He added in English, "This is the best time for foreign tourists to visit Seoul. I hope you have a great experience here." First Secretary Upadhyay emphasized the unique blend of history, culture, and health. "I hope everyone can walk through and experience Korea's heritage," he said. "As we walk the same paths once walked by the kings of Joseon, may we feel the richness of this cultural legacy." Representing the Kazakhstan Embassy, Diplomatic Officer Dautov Bauyrzhan delivered a speech in fluent Korean, calling the event "a beautiful symbol of cultural connection" between Korea and Kazakhstan. Deputy Chief Fang Kun noted: "I believe today's walk offers a great opportunity to appreciate the beauty of Korea's historic palaces. This event will also help foster better understanding and feelings between the Chinese and Korean people. I hope everyone enjoys today and I would love to join again next time." The walk began at the Uijeongbu Site of State Council Historic Plaza, once home to Korea’s top governing body during the Joseon Dynasty. The site was excavated starting in 2016 and restored and reopened to the public in 2024 as a cultural heritage park. The route's first landmark was Gyeongbokgung Palace. In early summer, its grounds were shaded by vibrant green trees that paired elegantly with the palace's ornate, painted architecture. Lee Eun-hye, visiting from Mexico, shared her reason for joining: "I've lived in Seoul for a while, but I realized I’d never actually walked through the palaces like this. It feels great to enjoy it together with people from all over the world." Lim Hyun-joo, head of Korean Studies at the Autonomous University of Nayarit in Mexico, joined while on a study visit to South Korea. "It was lucky that this event fit my schedule. I plan to show the certificate to my students and tell them all about Korea’s palaces. It’s been a meaningful way to gather experiences I can share back home." Among the international participants was Frank, a French national. "I've never had the chance to visit any palaces before, but this event made it possible. A friend who works at Seoul City Hall recommended it. Everything was just perfect. Especially walking alongside people from so many countries." Najifa, a French exchange student, said: "I'd been to Gyeongbokgung before, but this was my first time visiting the other palaces. It was a great opportunity for foreigners like me. I can confidently say the palaces are the best places I’ve seen in Korea." Throughout the course, walkers, many wearing blue caps, could be seen stopping to take photos. At the rear gate of the former presidential office, many paused for commemorative snapshots. Others admired the tranquil beauty of Changdeokgung Palace and the charm of Changgyeonggung Palace, sharing laughs and conversations with family, friends, and fellow walkers. Among them was Oh Seung-bok, 63, who registered on-site after arriving in Gwanghwamun with friends for a casual morning walk. "I don’t often get to visit the palaces even though I live in Seoul, so I’m happy to have had this chance," she said. "It took us about three and a half hours to walk the course at a relaxed pace. Gyeongbokgung was beautiful, but I found Changgyeonggung especially lovely. If it’s held again next year, I’ll definitely join." At the end of the walk, returning to the starting point, Lee Bong-soo reflected on the day. "I’m glad my son had the chance to see the palaces in person and walk with people from different backgrounds. If there’s another event like this, we’ll definitely join again." 2025-06-15 16:11:41

US steel tariffs likely to hit core of Samsung, LG's appliance exports SEOUL, June 13 (AJP) - Samsung Electronics and LG Electronics are bracing for financial and operational turbulence after the Trump administration announced it would impose 50 percent tariffs on steel-derived products used in home appliances. The U.S. Commerce Department published the sweeping list of affected goods in the Federal Register, with implementation set for June 23. The targeted products include refrigerators, washing machines, dryers, dishwashers, freezers, stoves, ranges, and ovens — cornerstones of both companies’ North American appliance businesses. While Samsung and LG both operate manufacturing plants in the United States, the majority of their appliances are produced in South Korea, Vietnam, and Mexico before being shipped to American consumers. The new tariffs, therefore, hit at the heart of their export-heavy operations. Company officials said they are conducting detailed impact assessments and reviewing a range of strategic responses, from price hikes to shifts in production geography. Steel is a critical component in large appliances, meaning the tariffs are likely to increase production costs significantly. LG, in its first-quarter earnings call, disclosed that it had already mapped out contingency plans, including cost-saving measures and potential consumer price increases. Samsung, for its part, signaled during its latest earnings call that it would ramp up its portfolio of premium appliances and explore redistributing production volumes across its global manufacturing bases to cushion the blow of the tariffs. Trump, who has championed tariffs as a tool to bring manufacturing back to American soil, pointed to Samsung’s investment intentions as a victory for his administration’s trade strategy. In April, he claimed the company would not have considered building large-scale U.S. facilities without tariff pressure. LG is moving to expand its domestic footprint, gradually shifting production of washers and dryers to its Tennessee plant, which currently accounts for about 20 percent of its U.S. appliance sales. CEO Cho Joo-wan has described U.S.-based production as a "last resort," noting that the company would first explore other levers — such as shifting manufacturing locations and adjusting pricing. Both companies are expected to continue leveraging their global "swing" production systems — networks that allow them to adapt rapidly to changing trade conditions. 2025-06-13 16:12:37

Lee calls emergency meeting in response to Israel's attack on Iran SEOUL, June 13 (AJP) - President Lee Jae-myung convened an urgent meeting on Friday to discuss measures in response to Israel's attack on Iran earlier in the day. Lee said, "The most important thing is the lives and safety of South Koreans there," stressing the need to thoroughly assess the situation of South Koreans residing there. He ordered key officials to prepare appropriate safety measures for South Koreans residing in nearby areas while analyzing potential impacts on the domestic economy. "The attack has led to huge fluctuations in oil prices, exchange rates, and the stock market," Lee pointed out, emphasizing the importance of timely economic measures to protect the domestic economy from the fallout. According to the Ministry of Foreign Affairs, it is estimated that around 100 South Koreans are staying in Iran. Israel launched airstrikes on dozens of military installations including a nuclear facility in Tehran in the early hours of Friday. Iran vowed retaliation after its most powerful military figure General Hossein Salami, along with other military leaders, was killed during the attack, further escalating tensions in the already volatile Middle East region. 2025-06-13 15:35:12

President Lee pledges support for growth at meeting with business leaders SEOUL, June 13 (AJP) - President Lee Jae-myung met with the heads of South Korea’s largest conglomerates and business associations on Friday, pledging regulatory reform and support for corporate growth as central pillars of his economic agenda. The meeting came just days before his scheduled departure for the Group of 7 summit in Canada. The gathering, held at the presidential office in Yongsan, Seoul, brought together top executives from Samsung, Hyundai Motor Group, LG Group, and Lotte Group, as well as leaders of six major economic organizations. “The most important thing is the people's livelihood,” Lee said during the meeting. “At the heart of that is the economy — and at the heart of the economy is business.” The meeting marked a swift start to Lee’s administration. His first official act was the establishment of an emergency economic review task force, signaling his urgency in tackling economic challenges. Lee is expected to depart for Canada this weekend to attend the G7 summit, where he is also planning bilateral talks with U.S. President Donald Trump. Trade tensions, particularly tariffs impacting South Korean industries, are likely to feature prominently in those discussions. Lee emphasized the government’s role in helping domestic firms expand abroad and compete globally, vowing to deploy both diplomatic and security measures in support of corporate interests. At the same time, he struck a tone of reform, warning that South Korea could no longer rely on protectionist policies or opaque business practices. “We must build a fair and transparent economic ecosystem,” he said, while reaffirming his administration’s commitment to fostering a market-friendly environment. Samsung Electronics Chairman Lee Jae-yong expressed support for the president’s business-first approach, reaffirming the conglomerate’s investment and hiring plans. Chey Tae-won, chairman of both SK Group and the Korea Chamber of Commerce and Industry, praised the upcoming APEC summit as a vital opportunity for public-private cooperation, and urged continued government backing to ensure its success. 2025-06-13 15:19:47

PHOTOS: A season of harvest SEOUL, June 13 (AJP) - Even as June's warmth turns to oppressive heat, the fields are bustling with harvest activity. Below, a series of photographs documents the sweat and effort of early summer. 2025-06-13 15:13:19

North Korea launches repaired destroyer after initial failed attempt SEOUL, June 13 (AJP) - North Korea has launched a large destroyer, after its initial failed attempt last month, state media reported on Friday. The official Korean Central News Agency (KCNA) said the 5,000-ton destroyer, named after North Korea’s historical naval hero Kang Kon, was launched at a shipyard in the northeastern port city of Rajin after weeks of repair work. The country's leader Kim Jong-un oversaw the launch along with his daughter, Ju-ae, who was dressed in a white romper and looked more mature than in her previous public appearances. Kang Kon was an "anti-Japanese revolutionary fighter" who served as North Korea's first army chief until he died during the Korean War. During its initial launch at a facility in the nearby port city of Chongjin on May 21, the warship accidentally capsized, with most of its hull submerged, prompting Kim to order immediate repairs. The incident was a huge embarrassment for Kim as he was there to apparently show off the country's military might. Under Kim's orders to complete repairs by the end of June, the damaged destroyer was raised within just two weeks and fully restored in less than a month. According to KCNA, Kim "awarded commemorative copper coins to major commanding officers of the destroyer and had a photo session" with them, with plans to build more such vessels in the coming years. 2025-06-13 14:52:25