North Korea issues terse coverage of South Korean presidential election SEOUL, June 5 (AJP) - North Korea's state media on Thursday reported the result of this year's South Korean presidential election, which took place here earlier this week. The state-run Rodong Sinmun newspaper devoted just two sentences to it, saying that Lee Jae-myung was elected as the next president in the South's June 3 election, "just two months after [former President Yoon Suk Yeol' was impeached" over his botched Dec. 3 declaration of martial law last year. The report came quick on the heels of the election, although it did not carry any commentary on it. North Korea had not reacted at all to South Korea's political situation since its brief coverage of Yoon's ouster in early April, as the isolated country rarely covers news from the outside world including South Korea. 2025-06-05 10:27:48

PHOTOS: Korea's dance heritage SEOUL, June 05 (AJP) - On May 23, the Hanyoungsuk Dance Preservation Society, an organization dedicated to upholding the rich legacy of traditional Korean dance, staged a special performance at the Korea House in Samseong-dong, Seoul. The society honors Han Young-suk, a revered master of Korean dance. Han inherited a repertoire of traditional forms, including Seungmu, Hakchum, Salpuri, and Taepyeongmu, from her grandfather, Han Seong-jun. A pivotal figure in the art form, she meticulously trained a new generation of dancers and was recognized as a National Intangible Cultural Heritage holder for her profound mastery of Seungmu and Hakchum. The evening's program featured a series of evocative performances. Joo Yeon-hee presented Seungmu, a contemplative solo. Kim Han-saem performed Gainyeook, a graceful work incorporating fans. The regal Taepyeongmu was showcased by Yang Seo-yoon and Son Hye-young, while Yeom Hyun-joo offered the poignant Salpuri-chum. Kang So-jeong embodied the elegance of the Hakchum, and Kim Ji-young and Choi Ji-yeon captivated the audience with Sanjo-chum. Among the traditional forms, Seungmu stands out as a distinctive folk dance. Dancers, cloaked in a white jangsam (monk's robe) and a red gasa (Buddhist stole) draped over the shoulder, complete their austere attire with a white gokkal (pointed hat). Its intricate movements and unique techniques define its character. In contrast to the highly commercialized idol dances often seen on television, traditional Korean dance, with its understated elegance and disciplined beauty, offers a profound and immersive experience for audiences. "Gainyeook," meaning "a beautiful woman like jade," is a dance piece that has evolved to incorporate fan work. While originally emphasizing improvisation without a fixed structure, it has since developed a more defined style, elegantly portraying a woman who is both refined and restrained, yet imbued with a captivating vivacity. Taepyeongmu is a celebratory dance performed to invoke peace and prosperity for the nation. Dancers, adorned in the majestic attire of a queen, evoke the grandeur and opulence of traditional court dance. It is often regarded as one of the most technically demanding dances in the Korean repertoire. Salpuri-chum is a powerful expression aimed at dispelling negative energies, or "sal." It deftly navigates the duality of "han" (a profound sense of sorrow or unresolved longing) and "heung" (joy or excitement). Hakchum, or the crane dance, is an imitative form where performers wear masks and costumes resembling cranes, mimicking the bird's graceful movements. It traditionally symbolizes longevity. Sanjo-chum is a free-flowing, improvisational dance performed to Sanjo music, characterized by its melodic structure that emerges from the scattering and converging of various rhythmic patterns. Its inherent spontaneity allows for a broad spectrum of creative expression, translating human emotions into fluid physical movements. 2025-06-05 10:18:39

Korean Air charts global ambitions as group nears 70-year milestone Editor's Note: This article is the 21st installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, June 5 (AJP) - As Hanjin Group prepares to mark its 70th anniversary this November, South Korea’s largest transportation conglomerate is plotting a course for global expansion. The centerpiece of the group’s transformation is Korean Air, which solidified its standing as a global aviation player in December 2024 by finalizing its 1.8 trillion won (approximately $1.31 billion) acquisition of longtime rival Asiana Airlines. The merger — four years in the making and mired in regulatory scrutiny — granted Korean Air a 63.88 percent stake in Asiana, propelling the combined carrier into the ranks of the world’s 10 largest airlines by capacity. At the helm is Chairman and Chief Executive Cho Won-tae, also known as Walter Cho, grandson of Hanjin’s founder. Under his stewardship, the merged airline has pledged full integration within two years, with no workforce reductions — a move aimed at assuaging labor concerns in a nation sensitive to corporate restructuring. But Cho’s ambitions stretch far beyond Korean airspace. In May, Korean Air announced a strategic 10 percent stake in WestJet, Canada’s second-largest airline, underscoring a push to strengthen its transpacific network. “We are pleased to invest in WestJet as part of our continued commitment to enhancing transpacific connectivity,” Cho said in a statement. The investment, he added, is intended to increase customer choice and reinforce the airline’s international footprint. These initiatives mark a striking evolution for a company that began in 1945 with a single truck at Incheon Port. Founded by Cho Choong-hoon, Walter’s grandfather, Hanjin grew rapidly through contracts with the U.S. military following the Korean War, and took to the skies in the 1960s with the acquisition of state-owned Korea Airlines, rebranded as Korean Air. In the decades since, the conglomerate has diversified its operations, launching shipping services, parcel delivery, and even educational institutions, including Inha University and Hankuk Aviation University. Korean Air posted record first-quarter revenue of 3.96 trillion won this year, up 3 percent from the previous year. But rising depreciation and maintenance costs — fueled by deliveries of Boeing 787-9 and 787-10 aircraft — cut into profitability. Operating profit fell 19 percent to 351 billion won, while net income declined 44 percent to 193 billion won. Passenger revenue increased modestly by 4 percent to 2.44 trillion won, and cargo revenue rose 6 percent to 1.05 trillion won, driven by strong demand in e-commerce, electronics, and auto parts. Meanwhile, Hanjin Logistics, the group’s delivery and freight arm, posted first-quarter revenue of 728 billion won, a 2.2 percent year-on-year increase, with operating profit up 12 percent to 26.2 billion won. Despite operational growth, the group remains dogged by governance issues. Since the death of his father, Cho Yang-ho, in 2019, Walter Cho has consolidated leadership, notably steering the Asiana merger to completion with support from the state-run Korea Development Bank. Yet his control may soon be tested. Hoban Group, a domestic construction and investment firm, has quietly increased its stake in Hanjin KAL, the group’s holding company. Though it trails Cho’s faction by a narrow 1.5 percentage point margin in shareholding, its growing influence has raised eyebrows. Hoban previously made an unsuccessful bid to acquire Asiana Airlines and would need to commit an estimated 2.6 trillion won to gain a controlling stake. For now, Hoban insists its interest is “purely financial,” denying any intention to pursue a management takeover. Nonetheless, its maneuvering introduces a layer of uncertainty just as Hanjin seeks to redefine itself on the global stage. As the conglomerate approaches its milestone anniversary, it faces a pivotal question: Can it maintain momentum in international markets while navigating increasingly turbulent corporate waters at home? For Hanjin — and for Walter Cho — the answer may define the next chapter in South Korea’s aviation legacy. 2025-06-05 09:37:49

Samsung to unveil new foldable smartphone next month SEOUL, June 05 (AJP) - Samsung Electronics plans to unveil the latest iteration of its foldable smartphone line, the Galaxy Z Fold 7, in early July. The forthcoming model is being positioned on par with its flagship Galaxy S Ultra series. Samsung says the device will feature upgraded hardware, advanced artificial intelligence capabilities, and a refined user experience — hallmarks traditionally reserved for its most premium offerings. In a blog post, Samsung provided a first look at the device through a teaser video showing the Z Fold’s glowing silhouette. The clip emphasized the phone’s dual-screen design and portability, signaling Samsung’s intention to blend cutting-edge form with everyday function. "Users want a bigger screen, better cameras, stronger performance, more diverse connections and creative tools in one hand," the company wrote. "We present an ‘Ultra experience’ that newly defines daily interactions." Among the expected features are a larger 8.2-inch internal display and a 6.5-inch cover screen, modest increases over the previous generation. The Z Fold 7 is also projected to be Samsung’s slimmest foldable to date, with an unfolded thickness between 3.9 and 4.54 millimeters — down from 5.6 mm on the Galaxy Z Fold 6. The device will ship with Android 16 and include upgrades to both build quality and software performance. Samsung said it has further optimized the foldable format using AI to enhance tasks such as messaging, web browsing, and mobile gaming. The global launch is scheduled for Samsung’s upcoming Unpacked event in New York City, the company’s first major product unveiling in the city since 2022. At that time, Samsung introduced the Galaxy Z Fold 4 and Z Flip 4. 2025-06-05 08:57:00

US congratulates Lee on election win SEOUL, June 4 (AJP) - The U.S. congratulated South Korean President Lee Jae-myung on his election as the country's 21st president and reaffirmed Washington's commitment to its bilateral alliance with Seoul. In a statement released on Tuesday, the U.S. Secretary of State Marco Rubio said, "We congratulate to bolster regional security, enhance economic resilience, and defend our shared democratic principles," the statement said. Lee is soon expected to talk with U.S. President Donald Trump over the phone on Wednesday night. Meanwhile, the two could meet in person if Lee decides to attend the upcoming G7 summit in Canada slated for later this month, though it remains uncertain with the multilateral gathering less than two weeks away. 2025-06-04 17:13:51

Exhibition showcases trend of electric vehicles SEOUL, June 4 (AJP) - South Korea’s premier electric vehicle exhibition, EV Trend Korea 2025, opened in Seoul on Tuesday with an awards ceremony honoring standout innovations in the nation’s fast-growing EV sector. The three-day event, hosted by the Ministry of Environment at COEX convention center, brought together major industry stakeholders, including the Korea Battery Industry Association and the Korea Automotive Environmental Association. Ahn Se-chang, director general of the Climate Change Policy Bureau at the environment ministry, delivered opening remarks to a crowd of executives and policymakers. Attendees included Shin Seung-kyu, executive vice president of Hyundai Motor Group, and Glen Schmidt, vice president for government and external affairs at BMW Korea. Now in its eighth year, the exhibition is the largest in its history, according to organizers. Crowds flooded the venue on opening day, drawn by hands-on exhibits, live demonstrations and test-driving opportunities. A popular highlight was the EV camping display, showcasing vehicle-to-load (V2L) technology that allows EVs to power outdoor equipment and appliances. Among the headliners was Hyundai’s newly redesigned Nexo, the company’s hydrogen-powered SUV originally launched in 2018. The updated model boasts a projected driving range of more than 700 kilometers on a single hydrogen refill — completed in under five minutes — and will feature a panoramic curved display dashboard. The vehicle is set for release next month, according to Hyundai officials present at the show. 2025-06-04 16:15:51

Samsung showcases AI-powered home appliances in Mexico City SEOUL, June 04 (AJP) - Samsung Electronics unveiled its latest line of artificial intelligence-powered home appliances at a regional tech event in Mexico City, as the South Korean tech giant ramps up efforts to expand its footprint in the Latin American market. The “2025 Latin America Tech Seminar” brought together about 60 media representatives and industry professionals from 13 countries, including Brazil, Chile, Colombia and Mexico. The event marked the regional debut of Samsung’s 2025 Bespoke AI home appliance lineup, which includes next-generation refrigerators, washing machines, dryers, cordless vacuum cleaners and air conditioners. Part of a broader global outreach campaign, the seminar is the first in a series of planned promotional events aimed at showcasing Samsung’s vision for connected living. The company plans to host similar events across Southeast Asia, Southwest Asia, and other key international markets later this year. At the event, Samsung demonstrated how its Bespoke AI products leverage artificial intelligence to enhance energy efficiency, user convenience, and security. Features included integrated display screens, Bixby voice controls, and seamless connectivity with SmartThings, Samsung’s smart home ecosystem. Attendees toured a model apartment dubbed “Sam’s House,” a conceptual living space designed to illustrate how AI-driven appliances can optimize everyday routines — automating tasks, adjusting energy usage, and syncing across multiple devices. The Bespoke brand, known for its customizable designs and smart capabilities, has been a central part of Samsung’s strategy to redefine the modern home. The company is now positioning its AI appliances as a key growth engine in international markets, particularly as consumers increasingly seek connected, sustainable home solutions. 2025-06-04 15:37:11

Italian National Day celebrated in Seoul with focus on cultural and people-to-people ties SEOUL, June 04 (AJP) - The Embassy of Italy in Seoul hosted a National Day reception on Jun. 2 at the Italian Ambassador’s Residence in Hannam-dong, bringing together around 1,500 guests, including diplomats, government officials, celebrities, and members of the public and private sectors. The event celebrated the 79th anniversary of the Italian Republic, which was established through a nationwide referendum in 1946. This year’s gathering followed the 140th anniversary of diplomatic ties between Italy and South Korea, with 2024 marked as the Year of Mutual Cultural Exchange between the two nations. In a warmly received opening speech delivered in Korean, Italian Ambassador Emilia Gatto struck a personal tone, expressing her hopes to make the coming year one of deepening “people-to-people exchange.” While acknowledging that her Korean was “not perfect,” her effort to communicate in the local language moved the hearts of many in attendance and was met with heartfelt applause. “Today marks an important celebration for Italy. Seventy-nine years ago, our nation chose the Republic through a universal referendum,” she said. She noted that over the past year, the embassy had worked to strengthen bilateral ties through two priority initiatives: the formation of the Korea-Italy Parliamentary Friendship Association at the National Assembly, and the expansion of city diplomacy. Highlighting new sister-city relationships, Ambassador Gatto thanked the mayors of Chuncheon and Hanam and encouraged guests to attend the upcoming “2025 Ciao Italia” festival in Chuncheon. Touching on shared values and interests, she emphasized that Italy is a founding member of the European Union, a member of the United Nations Command, and a like-minded partner to South Korea in areas ranging from strategic cooperation and business to national safety and science and technology. “First of all, the goal of the business sector is further growth!” she said. “Italy is no longer just ‘3Fs’ plus Ferrari. We have added the F of Future.” Ambassador Gatto highlighted Italy’s long-standing leadership in space innovation, reminding the audience that Italy was the third country in the world to launch a satellite, after the USSR and the United States. “The two countries share so much in common. Geomorphology, population, love of culture and beauty,” she said. “So, I like the people of both countries! I think Koreans are the Italians of Asia.” She closed with a vision of mutual exchange. “I want to promote not only Italian wine in Korea but also Makgeoli in Italy. I want to promote not only Italian art and history in Korea but also Korean heritage in Italy. A combination of Korea and Italy. That is my dream.” 2025-06-04 15:19:00

Business groups urge new president to focus on economic recovery SEOUL, June 4 (AJP) - South Korean business groups called on President Lee Jae-myung to revitalize the country’s flagging economy and position it as a global economic heavyweight amid mounting domestic and international challenges. In a series of statements issued Tuesday, business leaders asked the new administration to prioritize economic stability, bolster industrial competitiveness, and enact reforms aimed at restoring growth in a nation grappling with sluggish consumption, falling birthrates, and global trade headwinds. The Korea Chamber of Commerce and Industry, one of the country's most influential business organizations, urged President Lee to “unite national capabilities” to confront structural issues such as low growth and regional population decline. In a policy paper, the group emphasized the need for proactive leadership in an era shaped by protectionist trade policies and the rapid advancement of artificial intelligence. “President Lee must steer the nation through a volatile global landscape and domestic uncertainty,” the chamber stated, calling for “decisive measures that restore public trust and energize economic fundamentals.” The Federation of Korean Industries echoed the call for urgent action, expressing confidence that “pragmatic, performance-oriented policies” could elevate South Korea into the ranks of the world’s top five economies. The group urged the government to foster innovation, revive the ailing manufacturing sector, and support emerging technologies as pillars of long-term growth. The Korea Enterprises Federation, meanwhile, pressed for bold regulatory reforms and a more flexible labor market, saying such measures are essential for enhancing competitiveness and sustaining prosperity. “Insightful and balanced leadership will be crucial in navigating the coming challenges,” the group said. The Korea International Trade Association advocated for a more profit-driven trade strategy, emphasizing the importance of minimizing external risks through coordinated diplomatic and trade policy efforts. “Rapid shifts in the global trade order require swift and adaptive responses,” the group said. As President Lee assumes office, expectations are high that his administration will move quickly to define its economic priorities and reassure markets. The coming months are expected to offer the first real test of how he balances labor-friendly campaign promises with the demands of a deeply concerned business sector. 2025-06-04 14:59:26

SK hynix overtakes Samsung to claim top spot in global DRAM market SEOUL, June 04 (AJP) - SK hynix surpassed Samsung Electronics in the first quarter of 2025 to become the world’s largest supplier of DRAM chips, according to data released Tuesday by market research firm TrendForce. It marks the first time the memory chipmaker has claimed the top position in the global DRAM market, long dominated by its larger domestic rival. The global DRAM industry recorded $27.01 billion in revenue for the quarter ending in March, a 5.5 percent decline from the previous quarter, amid falling contract prices and weakened shipments of high-bandwidth memory (HBM) products. SK hynix captured 36 percent of the market during the quarter, overtaking Samsung, which fell to 33.7 percent. Just three months earlier, Samsung had held a commanding lead with a 39.3 percent share, compared to SK hynix’s 36.6 percent. The reversal underscores a sharp shift in industry dynamics, particularly given that Samsung held a 43.9 percent share as recently as the first quarter of 2024. Despite a 7.1 percent decline in quarterly revenue to $9.72 billion, SK hynix gained ground on the strength of shipments of its high-value HBM3E chips, a key component in advanced computing systems. Samsung, by contrast, reported a steeper 19.1 percent drop in DRAM revenue, to $9.1 billion — an outcome attributed to restricted HBM sales to China and delays stemming from product redesigns. Micron Technology, the American memory maker, maintained its position in third place with $6.58 billion in revenue and a 24.3 percent market share. Separate figures from Counterpoint Research echoed the TrendForce findings, placing SK hynix at a 36 percent share, narrowly ahead of Samsung at 34 percent. TrendForce projected a rebound in DRAM shipments in the second quarter, as PC and smartphone manufacturers complete inventory adjustments and scale up production. The firm also pointed to a temporary 90-day suspension of mutual tariffs between the United States and China as a catalyst for renewed demand. With inventory levels expected to stabilize, analysts anticipate a more favorable pricing environment that could lift revenues across the memory sector in the coming months. 2025-06-04 13:34:16