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

South Korea inaugurates new president SEOUL, June 4 (AJP) - South Korea's newly-elected President Lee Jae-myung was sworn in on Wednesday with a low-key inauguration ceremony at the National Assembly in Seoul. Lee's tenure as the country's 21st president already began when he was briefed about military readiness, following the National Election Committee's formal approval of his victory at the previous day's presidential election. He began the day by leaving his home in Gyeyang, Incheon, with First Lady Kim Hye-kyung, making a stop at the Seoul National Cemetery before heading to the National Assembly in Yeouido for the ceremony. As the June 3 snap election was held to replace former disgraced President Yoon Suk Yeol after the Constitutional Court of Korea's ruling in April to impeach him over his botched martial law debacle late last year, Lee had no time to spare for a full transition period. In his inauguration ceremony attended by around 300 lawmakers and other key leaders, Lee pledged to prioritize "national unity" and economic recovery as key agendas of his single five-year term. "No matter whom you voted for in the election, I will serve as a president for all, embracing and serving every citizen," Lee said. He also vowed to "revitalize the economy and revive democratic priciples and values." But he faces a tough road ahead amid the worst political and economic crises in the wake of Yoon's Dec. 3 declaration of martial law and the global trade war sparked by U.S. President Donald Trump's sweeping tariff policies. Starting his first day in office at Yongsan, Lee nominated Kim Min-seok, an activist-turned-politician who led his election campaign, as prime minister, and appointed Kang Hoon-sik, a three-term DP lawmaker, as presidential chief of staff. Wi Sung-lac, the former envoy to Russia, was nominated as national security adviser, while Lee Jong-seok, the former minister of unification, was appointed to lead the National Intelligence Service. Further appointments to key posts are expected in the coming days. Later in the day, Lee is expected to talk with foreign dignitaries and other leaders including Trump. Meanwhile, Lee intends to temporarily use the presidential office in Yongsan while Cheong Wa Dae undergoes renovation, as the historic compound was somewhat damaged and littered during its public opening over the past three years. During his campaign, Lee said he would eventually move the office to the administrative city of Sejong in South Chungcheong Province, which he considers more suitable since it is home to many government agencies and state-run institutions. To mark Constitution Day on July 17, Lee also plans to hold an additional ceremony next month to reaffirm his commitment to upholding the Constitution. 2025-06-04 11:29:59

Lee Jae-myung's resounding win paves way for strong leadership and bold policy drive SEOUL, June 4 (AJP) - Tuesday's presidential election was a decisive win for the main opposition Democratic Party (DP), as its candidate Lee Jae-myung secured a record 49.42 percent, defeating Kim Moon-soo of the ruling People Power Party (PPP) by 2.89 million votes or 8.27 percentage points. With a record turnout of 79.4 percent, the highest since the 1997 presidential election's 80.7 percent, Lee took the lead soon after votes were counted and maintained it, finishing first in all regions except Gangwon and Gyeongsang provinces. Lee also came in first among all age groups except those aged 60 and older. His resounding victory is expected to provide strong momentum for solidifying his leadership and pushing forward his policies, with the DP holding a super-majority in the National Assembly, something his predecessor never had. Lee came in first in the Seoul metropolitan area, where half of the country's voters reside. In Seoul, he earned 47.13 percent, 5.58 percentage points ahead of Kim's 41.55 percent. In Gyeonggi Province, where he started his political career as the mayor of Seongnam in 2010, he secured 50.12 percent, outpacing Kim's 40.84 percent. Lee flipped the central Chungcheong provinces, which he had lost in the previous 2022 presidential election. In particular, he swept the votes in the traditional strongholds of the liberals, garnering an overwhelming 84.77 percent in Gwangju, 85.87 percent in South Jeolla Province, and 82.65 percent in North Jeolla Province. Lee's victory was already pronounced as soon as polls closed at 8 p.m., as exit polls from the country's three major terrestrial broadcasters — KBS, MBC, and SBS — showed him garnering a majority. Lee was behind Kim in Gyeongsang provinces but still garnered close to 40 percent with 40.14 percent in Busan and 42.54 percent in Ulsan. The DP had never before secured over 40 percent in those regions. In Daegu and North Gyeongsang Province, Kim led with 67.62 percent and 66.87 percent, respectively, while Lee only managed 23.22 percent and 25.52 percent. Hailing from Andong in North Gyeongsang Province, Lee is the first president from the liberal party to come from the southern region. In an election of the "unfavorables," with the two leading candidates each facing their own controversies — one involved in multiple legal trials and the other criticized for initially refusing to apologize for former disgraced President Yoon Suk Yeol's botched Dec. 3 martial law debacle as well as the staunch conservative's far-right stances — the decisive factor in voter sentiment seemed to be a broad sense of urgency among South Korans for change and stable leadership amid internal and external challenges caused by political conflicts and economic difficulties. Meanwhile, Lee Jun-seok of the minor centrist Reform Party earned a paltry 8.34 percent, Kwon Young-kook of the minor progressive Democratic Labor Party 0.98 percent and independent candidate Song Jin-ho 0.10 percent. With the National Election Committee's formal approval of his victory, the new president's single five-term began immediately at 6:21 a.m. on Wednesday, with no transition period, as the June 3 snap election was held to replace Yoon, who was impeached following the Constitutional Court of Korea's ruling in April. 2025-06-04 11:16:07

PHOTOS: President Lee Jae-myung's five-year term begins SEOUL, June 04 (AJP) - The National Election Commission officially confirmed Lee Jae-myung of the Democratic Party of Korea as South Korea's new president early Wednesday in accordance with the results of the 21st presidential election. Lee's five-year term officially began at 6:21 a.m. Lee secured the presidency with a final vote share of 49.42 percent. 2025-06-04 09:51:51

Kim Moon-soo concedes presidential race, congratulates Lee Jae-myung in early-morning remarks SEOUL, June 04 (AJP) - People Power Party presidential candidate Kim Moon-soo acknowledged his projected defeat early Wednesday morning, offering congratulations to rival Lee Jae-myung and expressing gratitude to his supporters. Speaking around 1:30 a.m. on Jun. 4 at party headquarters in Yeouido, Seoul, Kim appeared before reporters and campaign staff following a night of sobering exit poll results and early vote counts. His remarks came shortly after major broadcasters projected Lee Jae-myung of the Democratic Party as the winner of South Korea’s 21st presidential election. According to the joint exit poll released at 8 p.m. on election day by KBS, MBC, and SBS, Lee held 51.7 percent of the vote, compared to Kim’s 39.3 percent. As of late Tuesday night, early ballot counts continued to show Lee in the lead. Though the final results have not yet been officially confirmed by the National Election Commission, Kim’s brief speech signaled a formal concession. --- Below is the full text of Kim Moon-soo’s statement: “To the people of the Republic of Korea, I humbly accept the will of the people. I congratulate candidate Lee Jae-myung on his election victory. I will never forget the strong support I received from so many citizens throughout this campaign. I am especially grateful to my colleagues in Gangwon Province, whose dedication carried me forward. No matter what crisis this country faces, the Republic of Korea has always advanced through the power of its people. To those who gave their support to someone as lacking as myself, I offer my heartfelt thanks. Jun. 4, 2025, Kim Moon-soo, presidential candidate of the People Power Party. Thank you.” 2025-06-04 01:53:43

Lee Jae-myung declares intent to lead as president in early morning address amid projected victory SEOUL, June 04 (AJP) - Democratic Party candidate Lee Jae-myung addressed supporters in the early hours of Wednesday, Jun. 4, delivering what sounded like a de facto victory speech, even as final vote counts in South Korea’s 21st presidential election were still underway. Speaking shortly after 1:15 a.m. in front of the Democratic Party headquarters in Yeouido, Seoul, Lee acknowledged that he had not yet been officially confirmed as president-elect but said he felt a strong sense of responsibility as the projected winner. Earlier in the evening, exit polls released by public broadcasters KBS, MBC, and SBS showed Lee with 51.7 percent of the vote, ahead of conservative rival Kim Moon-soo of the People Power Party, who had 39.3 percent. As of late Tuesday night, Lee was maintaining a lead in the ongoing ballot count. Major broadcasters had declared him the "projected winner" based on the wide margin. Lee used the speech to thank voters and outline the priorities of what would be his incoming administration: restoring democracy, reviving the economy, safeguarding public safety, building peace on the Korean Peninsula, and promoting social unity. --- Below is the full transcript of his speech: “Fellow citizens of the Republic of Korea, I thank you with all my heart. Although I have not yet been officially confirmed, I am Lee Jae-myung, likely to become the 21st President of the Republic of Korea. I will never forget the mission you have entrusted to me. I will fulfill it with precision and conviction. Since the night of the December 3 insurrection, many of you endured hardship and stood firm. Through your vote today, you have proven that this country belongs to ordinary citizens and that all power exercised by the president comes from the people, not for personal gain, but for the betterment of this nation’s future. Thank you. Your first mandate to me is to ensure we overcome the attempted coup and prevent any future abuse of arms entrusted by the people. I will restore democracy and build a republic in which citizens are respected, not divided by hate. Your second mandate is to rebuild the economy and restore everyday life. If I am confirmed as president, I will begin work immediately to improve the hardships many of you endure, as swiftly and surely as possible. Third, the Korean state must protect its people’s lives and safety. In recent years, the public has had to question whether the state even fulfills its basic responsibilities. Disasters have taken too many lives. I will build a country that takes this duty seriously. Fourth, I will pursue a stable and peaceful Korean Peninsula. Strong national defense is essential, but true security means winning without fighting—and ideally, preventing the need for conflict altogether. Through dialogue, communication, and coexistence, I will reduce tensions and minimize Korea risk so people’s lives are not further burdened. Finally, we are all fellow citizens in this shared community. I will not allow society to split into factions of hate—between men and women, regions, age groups, or workers and employers. We will not be perfect, but we can build a community where neighbors do not feel like enemies. Politics may divide, but the people need not. You are the owners of this country; politics serves you, not the other way around. The president’s job is to unite the nation, not to rule over it, but to bring it together. Let us work together for a fairer, more just Korea. Whatever challenges lie ahead, I believe the great strength of our people will carry us through. Let us move forward with hope and confidence. Though we may have disagreed during the campaign, those who did not support me are still citizens of the Republic of Korea. We wore different colors, but we are all part of one nation. Let us go forward together. Thank you.” 2025-06-04 01:42:12

Lee Jae-myung projected to win S. Korea's snap presidential election, signals end of conservative rule SEOUL, June 04 (AJP) - Lee Jae-myung of the Democratic Party is projected to win South Korea’s 21st presidential election, setting the stage for a return to liberal leadership just three years after conservatives took office. The Jun. 3 snap election was triggered by the impeachment and removal of former President Yoon Suk Yeol, who declared martial law on December 3, 2024. Citing unspecified threats to national stability, Yoon ordered the military and police into emergency readiness without legal process. The move drew widespread condemnation as unconstitutional. On April 4, the National Assembly passed an impeachment motion, and the Constitutional Court unanimously upheld it. Under South Korean law, a new president must be elected within 60 days of a vacancy. According to a joint exit poll released at 8 p.m. by KBS, MBC, and SBS, Lee secured 51.7 percent of the vote, with People Power Party candidate Kim Moon-soo at 39.3 percent. Lee Jun-seok of the New Reform Party was projected to receive 7.7 percent. The 12.4 percentage point margin prompted all three broadcasters to project Lee as the winner just before midnight. As of 11:18 p.m., with 31.5 percent of votes counted, Lee was leading with 48.32 percent, followed by Kim at 43.40 percent and Lee Jun-seok at 7.24 percent. While the official count continues, early returns and exit poll data strongly indicate a decisive outcome. Voter turnout reached 79.4 percent, the highest in a presidential race since 1997, reflecting strong public engagement after months of political turmoil. This was South Korea’s second-ever snap presidential election, the first having followed Park Geun-hye’s impeachment in 2017. Lee, 61, campaigned on a platform of economic revival and democratic restoration. A former factory worker who became a human rights lawyer, he built his career advocating for labor rights and social equity. His campaign pledged to shorten the workweek to 4.5 days without reducing pay, expand protections for unions, and invest 100 trillion won in artificial intelligence. His AI initiative includes the development of a Korean version of ChatGPT, free for public use, and the acquisition of more than 50,000 high-performance GPUs to boost innovation in tech, defense, and cultural industries. Lee is expected to take office immediately once the National Election Commission finalizes the count and certifies the result. If confirmed, his victory would end conservative rule and usher in a new political chapter amid heightened calls for reform, accountability, and stability. 2025-06-04 00:43:43

Conservative party officials in somber mood as exit polls show 12-point gap SEOUL, June 3 (AJP) - South Korea's main opposition People Power Party officials watched in somber silence as exit polls showed their candidate trailing the ruling Democratic Party's Lee Jae-myung by about 12.4 percentage points in Tuesday's presidential election. The party's election headquarters at the National Assembly Library fell into heavy silence when broadcasters announced the results at 8 p.m., immediately after voting concluded across the nation. Officials clad in red campaign jackets had gathered with cautious optimism. Emergency Committee Chairman Kim Yong-tae and other senior leaders took front-row seats as the critical moment approached. The mood shifted dramatically as exit poll figures appeared on television screens, showing their candidate Kim Moon-soo significantly behind, despite the campaign’s final-week rhetoric about a possible "golden cross" comeback. "We expected results within the margin of error, either slightly behind or slightly ahead, but this significant gap is quite disappointing," said co-campaign chief Na Kyung-won. "It's being received as somewhat shocking." Within ten minutes of the announcement, senior party officials began leaving the venue, their expressions marked by disappointment as the unexpected scale of the setback sank in. 2025-06-03 21:02:16

Democratic Party celebrates as exit poll shows Lee Jae-myung ahead with more than 50% SEOUL, June 03 (AJP) - The Democratic Party broke into cheers Tuesday night after exit poll results showed its presidential candidate Lee Jae-myung taking over 50 percent of the vote, putting him more than 10 percentage points ahead of conservative rival Kim Moon-soo. At the vote monitoring room set up in the main conference hall of the National Assembly Members’ Office Building, campaign staff and senior party officials began trickling in just after 7 p.m., an hour before the exit poll results were released. The mood was cautiously hopeful, buoyed by a higher turnout than in the last presidential election, but no one let their guard down. When the clock struck 8 and the joint exit poll from public broadcasters KBS, MBC, and SBS flashed across screens, the room erupted. Lee’s projected lead sent dozens of party members to their feet, clapping and shouting. Some pumped their fists in the air. Others joined in a chant of “Lee Jae-myung!” While the reaction was jubilant, senior figures including Yoon Yeo-joon, Park Chan-dae, and Jung Eun-kyeong kept their composure. They exchanged handshakes, a few hugs, and quiet words of encouragement, acknowledging the effort that had brought them to this point. The energy in the room spiked again when regional exit poll results rolled out. Lee was shown to be leading comfortably in the capital region, including Seoul, Gyeonggi Province, and Incheon, prompting another wave of applause. 2025-06-03 20:48:06

Lee Jae-myung promises pro-labor policies, aiming to revive economy SEOUL, June 3 (AJP) - Lee Jae-myung, presidential candidate of the liberal Democratic Party, is projected to win South Korea’s snap presidential election held Tuesday, with exit polls showing him ahead with 51.7 percent of the vote. His conservative rival Kim Moon-soo of the People Power Party follows with 39.3 percent, according to a joint exit poll survey by public broadcasters KBS, MBC, and SBS. The 61-year-old former Gyeonggi Province governor is seeking to implement sweeping economic reforms following months of political turmoil triggered by former President Yoon Suk Yeol's martial law declaration. Lee’s background sets him apart from South Korea’s political elite. Born into poverty as the seventh of nine children, he revealed in his autobiography that he spent his early years working in factories instead of receiving a proper education. A workplace accident left his left arm permanently damaged, but he persevered to earn a law degree and pass the national bar examination. His experience as a human rights lawyer defending exploited workers helped shape his pro-labor political philosophy. After becoming mayor of Seongnam City in 2010, Lee went on to serve as governor of Gyeonggi Province in 2018. He ran as the Democratic Party’s candidate in the 20th presidential election but lost to Yoon Suk Yeol. Now, he is running again in the 21st presidential election as the forerunner for his party. The Democratic Party candidate has pledged to introduce a 4.5-day workweek with no pay reduction, aiming to address South Korea’s notoriously long working hours. Lee also remains committed to advancing the Yellow Envelope Act, which would expand legal protections for workers and unions during labor disputes. His labor agenda includes stronger workplace safety measures and increased healthcare investment for workers in hazardous environments. As part of his economic revival plan, Lee has proposed a bold 100 trillion won (70.6 billion dollars) artificial intelligence initiative aimed at positioning South Korea among the world’s top three AI powers. The plan includes developing a "Korean ChatGPT" with free access for all citizens and acquiring more than 50,000 high-performance GPUs. His administration would also prioritize research and development investments while strengthening the country’s defense and content industries. In a Facebook post on June 2, Lee reaffirmed his commitment to the Korean people, saying: "I will pursue politics that has a positive impact on the people's livelihood and economy. I will definitely keep my promise of a country where we all prosper together, a Republic of Korea where each and every citizen's life is respected." 2025-06-03 20:32:03