INTERVIEW: Georgian envoy hails South Korea trade deal as milestone for deeper ties SEOUL, May 23 (AJP) - Georgian Ambassador to South Korea Tarash Papaskua sees the new Economic Partnership Agreement (EPA) between Georgia and South Korea as a turning point in bilateral relations. In an interview with Aju Press on May 19, he described the agreement as a "new generation agreement" and praised the speed and spirit of cooperation behind its conclusion. "The negotiations on this agreement were concluded in just seven months, from start to finish," he said. "That’s quite fast, and it was only possible thanks to the true spirit of partnership and a fast-track approach from both sides." He expressed gratitude to South Korea’s Ministry of Trade, Industry and Energy, calling the negotiation process "very focused, mobilized and determined." Described as "FTA+," the EPA eliminates tariffs on nearly all goods while expanding cooperation in renewable energy, e-commerce, environmental sustainability, digital economy, and intellectual property rights. "Essentially, the agreement will provide for a comprehensive institutional framework," the ambassador said. "Almost 95 percent of the goods will be tariff-free." With legal procedures and translations now underway, the agreement is expected to open new markets for Georgian products in South Korea, such as Kvevri (amber) wines, mineral water, fruits, nuts, and industrial goods. "It shows and demonstrates the willingness of governments to cooperate and to address issues, to facilitate and promote joint ventures," he added. Georgia is undergoing a long-term economic transition. Once heavily reliant on traditional manufacturing, the country is now shifting toward services, tourism, and information technology. Ambassador Papaskua said this transformation has accelerated since the early 2000s, when the country began comprehensive reforms to modernize institutions, reduce corruption, and create a more open business climate. As Georgia prepares to celebrate its Independence Day on May 26, the ambassador reflected on the country’s difficult journey to statehood. "On 31 March 1991, 99.08 percent of the population provided an unequivocal, positive answer to the question of restoring independence based on the 1918 declaration," he said. "Today we continue to still face this challenge of territorial integrity," he noted, referring to Russia’s occupation of Abkhazia and Tskhinvali. "But Georgia has managed to transform into a modern democratic state," Papaskua said, adding: "I would like to express deep gratitude to the Republic of Korea, as well as all our friends and partners for their continued support of Georgia’s territorial integrity and sovereignty within its internationally recognized borders." With 46 free trade agreements in place, including with the European Union and China, Georgia is positioning itself as a strategic hub between Europe and Asia. "Georgia is at the heart of a dynamic transit and logistics juncture that bridges Europe and Asia," he said, highlighting the country’s access to a 2.3 billion consumer market. Infrastructure is key to this ambition. Projects include a deep-sea port, a new airport, and a 1,195-kilometer (742 miles) submarine cable under the Black Sea to transmit both renewable energy and data to Europe. "The feasibility studies have been completed," he said, adding that South Korean companies have already been consulted. Energy cooperation is one of the most promising areas. "If I really would have to choose the most promising sector, that would definitely be energy, especially renewable energy," he said. He also pointed to logistics and advanced technologies as natural fits for South Korean companies. "Georgia has been very open, but we understand that it takes time, in a global environment where you have so much turbulence." While current trade and investment figures remain limited, Ambassador Papaskua stressed that the potential is far greater. "Current figures, either in trade or investments, are far from the real potential of both economies and this is something that we need to work on." Tourism is one area where momentum is building. The number of South Korean visitors to Georgia nearly tripled in 2024, and charter flights operated by Hanjin Travel and Korean Air will increase to eight this year. "We are seeing a positive trajectory," he said. Georgia will also participate in the Seoul International Travel Fair in June to further promote itself to South Korean travelers. The embassy is actively promoting the country’s tourism and culture through events in South Korea. "These events aim to showcase Georgia’s rich culture, history, and unique offerings, strengthening the people-to-people connections between our two nations." Interest in academic and cultural exchanges is also rising. "South Korea is becoming increasingly popular among young Georgians. They actively learn Korean language and culture, and many are already studying at South Korean universities." Georgian students have received scholarships from the Woojung and Elim Foundations, and several university-level MoUs are being developed. The embassy is working to establish a Sejong Institute in Tbilisi and hopes to eventually host a formal South Korean Cultural Center. "Even though our countries are far apart, our cultures share many similarities," he said. From Oct. 22 to 23, Georgia will host the 5th International Tbilisi Silk Road Forum under the theme "Invest in Connectivity – Grow in Stability." The event is expected to draw over 2,000 delegates from more than 60 countries. "Naturally, we hope to see strong participation from such an economic powerhouse as South Korea," Ambassador Papaskua said. Another sign of growing ties came in November 2024, when South Korea elevated the status of its embassy in Tbilisi. "This is a significant milestone that underscores the strengthening of diplomatic relations between our two countries," he said. "We look forward to deepening political dialogue and economic cooperation, facilitating cultural exchanges and thereby further solidifying our bilateral ties." Ambassador Papaskua said that his goal is to raise cooperation to a "qualitatively new level." He listed tourism, education, innovation, and cultural exchange as top priorities. "I believe that relations between Georgia and the Republic of Korea will continue to grow stronger," he said. "Both parties are motivated to deepen this value-based partnership in the coming years." 2025-05-23 15:16:49

HD Hyundai Electric to supply high-voltage transformers to Scottish firm SEOUL, May 23 (AJP) - HD Hyundai Electric, a subsidiary of South Korea’s HD Hyundai specializing in power equipment and energy solutions, announced on Friday that it has secured a contract to supply four ultra-high voltage transformers to SP Energy Networks, a major utility in Scotland. The agreement marks HD Hyundai Electric’s first foray into the Scottish market. Key representatives from both companies attended the signing ceremony, including Cho Seok, vice chairman of HD Hyundai Electric, and Eddie Mulholland, SP Energy Networks’ director of process and technology. Under the contract, HD Hyundai Electric will supply four 400-kilovolt transformers as part of a substation expansion project aimed at bolstering the stability of power supply across Scotland’s central and southern regions. Final delivery is slated for the second half of 2028. The company has seen a surge in European demand, reporting $437.75 million in orders from the continent so far in 2024. That figure reflects an average annual growth rate of approximately 44 percent since 2020, as HD Hyundai Electric seeks to strengthen its presence in what it describes as one of the world’s most demanding and technically advanced energy markets. “Europe is a conservative, high value-added market with high technical barriers, where orders are won based on quality and technological strength,” an HD Hyundai Electric official said in a statement. “We intend to broaden our footprint in Europe through enhanced research and development and deeper engagement with our customer base.” 2025-05-23 15:09:32

Samsung launches sale of Galaxy S25 Edge in South Korea SEOUL, May 23 (AJP) - Samsung Electronics on Friday launched sale of the Galaxy S25 Edge, the latest addition to its flagship smartphone line and the slimmest Galaxy S series device to date. Measuring just 5.8 millimeters thick and weighing 163 grams, the new model is the culmination of Samsung’s effort to marry minimalist design with robust engineering. It features a high-strength titanium frame and an IP68 rating for water and dust resistance. The launch rounds out the Galaxy S25 lineup and follows a weeklong pre-order period from May 14 to 20 that, according to Samsung, drew strong interest from consumers in their teens and 30s. Buyers in those age groups accounted for more than half of pre-orders placed through the company’s official website. Available in Titanium Silver, Jet Black, and Ice Blue, the Galaxy S25 Edge is priced at 1.5 million won (approximately $1,100) for the 256GB model and 1.639 million won for the 512GB version. Titanium Silver proved to be the most popular choice among early adopters. Under the hood, the device is powered by the Snapdragon 8 Elite for Galaxy chipset — shared across the S25 series — and features an upgraded vapor chamber cooling system for improved thermal performance over its predecessor, the Galaxy S24. The S25 Edge also boasts a 200-megapixel wide-angle main camera and a 12-megapixel ultra-wide camera with macro functionality and auto-focus. For the first time in the series, the front-facing camera supports log video recording, a feature aimed at content creators. Samsung’s new ProVisual Engine, designed to enhance image clarity and render skin tones more naturally, is built into the device. A suite of AI-powered editing tools — including AI Eraser, Audio Eraser, Generative Edit, and Sketch to Image — comes standard, alongside live AI features such as Now Brief for personalized updates and Now Bar, a real-time activity display on the lock screen. Both are compatible with third-party applications. “The Galaxy S25 Edge is the result of condensing our most advanced technologies into a streamlined form without compromising performance or design,” said Roh Tae-moon, acting head of Samsung’s Device eXperience division. To sweeten the launch, Samsung is offering a series of promotional perks, including six months of Google One AI Premium, three months of Willa audiobook access, and digital magazine subscriptions. 2025-05-23 15:01:54

Chinese TV makers accused of misleading UHD advertising SEOUL, May 23 (AJP) - A South Korean industry association has lodged a formal complaint with the country’s antitrust regulator, accusing major Chinese television manufacturers of deceptive marketing over the capabilities of their ultra-high-definition (UHD) television sets. The group, UHD Korea, said on Friday that it filed a petition with the Fair Trade Commission against several companies, including Chinese electronics firms TCL and Xiaomi. The complaint alleges that the manufacturers promoted their products as UHD-capable without including the ATSC 3.0 tuners required to receive terrestrial UHD broadcasts in South Korea. The tuners are essential for accessing over-the-air UHD broadcasts, and their absence has led to mounting frustration among consumers who purchased the sets expecting full UHD functionality, according to UHD Korea. The organization said it has received a wave of complaints through its consumer call center. “Terrestrial UHD broadcasting is not merely a technical feature — it is a public good, a universal service,” said Im Jung-gon, secretary general of UHD Korea. “Marketing televisions that cannot access this service as ‘UHD TVs’ undermines consumer rights.” While the Chinese-made televisions do offer panels capable of displaying UHD resolution, UHD Korea argues that resolution alone is insufficient to meet the definition of a UHD TV in South Korea. Broadcast compatibility, it says, is a critical component of the standard. Inquiries from consumers to the manufacturers have reportedly yielded only technical explanations about display specifications, with little clarity on the limitations of broadcast reception. At present, only televisions made by domestic manufacturers Samsung Electronics and LG Electronics meet the standards necessary to receive terrestrial UHD signals in South Korea. Televisions from foreign brands, including those purchased directly from overseas, typically do not include the required tuners. UHD Korea is urging both government agencies and retail channels to implement clearer labeling and stricter guidelines to ensure consumers can determine whether a TV supports local UHD broadcasting before making a purchase. 2025-05-23 14:32:36

North Korea admits newly developed destroyer damaged in launch mishap SEOUL, May 23 (AJP) -North Korea admitted that its newly developed warship was accidentally damaged during a launch ceremony earlier this week. According to the official state-run Korean Central News Agency (KCNA), the accident occurred Wednesday when a 5,000-ton destroyer was being launched at a shipyard in Chongjin, a key industrial city in the northeast. The vessel tilted and eventually overturned after a support mechanism at the stern prematurely released as it entered the water. North Korean leader Kim Jong-un, who reportedly witnessed the incident, expressed severe displeasure and immediately ordered a thorough investigation. "An investigation group of the destroyer launch accident got down to a full-scale investigation," KCNA reported. "No matter how good the state of the warship is ... those responsible for it can never evade their responsibility for the crime." KCNA added expert opinion, saying, "It will take two or three days to keep the balance of the warship by pumping up the seawater from the flooded chamber and making the bow leave the slipway and 10-odd days to restore the warship's side." However, Beyond Parallel, a project by the Center for Strategic and International Studies, commented that it is unclear yet whether the vessel received damage and how long it would take to salvage it. The damaged destroyer is reportedly identical to the "Choe Hyon," another multipurpose destroyer launched by North Korea last month. 2025-05-23 13:50:44

Naver chairman meets Nvidia CEO Jensen Huang for AI partnership talks SEOUL, May 23 (AJP) - Lee Hae-jin, the founder and chairman of Naver, visited Taiwan to meet with Nvidia Chief Executive Jensen Huang, marking Lee’s first public trip abroad since he returned to management in March. Lee was joined by Naver Chief Executive Choi Soo-yeon and other top executives during their visit to Computex 2025, Asia’s largest information technology exhibition. The meeting took place on the sidelines of Nvidia’s cloud partner gathering, the NPC Summit, where the two companies discussed expanding their collaboration on artificial intelligence. The discussions centered on sovereign AI — nationalized, self-reliant artificial intelligence systems — with an emphasis on developing foundational technologies and scaling them across global markets. Kim Yu-won, chief executive of Naver Cloud, also participated in the talks. This meeting builds on a similar dialogue held last June, when Lee, then serving as Naver’s Global Investment Officer, visited Nvidia’s Silicon Valley headquarters with the same executive cohort. Nvidia, the world’s leading producer of AI semiconductors, brings cutting-edge hardware and computing power to the table, while Naver contributes its capabilities in AI model architecture and development. The companies are expected to jointly explore projects across Southeast Asia and the Middle East — regions where governments are increasingly seeking to build independent AI infrastructure. While in Taiwan, the Naver delegation also plans to meet with a range of local companies, including Foxconn, the electronics manufacturer best known for assembling Apple’s iPhone, and e-commerce platform Momo. The talks aim to identify potential AI partnerships and reinforce Naver’s ambitions to expand its footprint beyond South Korea and Japan into emerging Asian markets. Looking ahead, Lee is scheduled to travel to Silicon Valley next month, where he will meet with engineers, entrepreneurs, and venture capitalists. His itinerary includes discussions on the formation of “Naver Ventures,” a proposed investment arm that would back AI startups globally. The initiative is seen as part of Naver’s broader strategy to sharpen its competitive edge in the rapidly evolving AI industry. 2025-05-23 11:23:04

Bitcoin surges past $111,000 as US fiscal fears spark flight from traditional assets SEOUL, May 23 (AJP) - Bitcoin soared to an all-time high on Friday, breaching $111,000 amid growing unease over U.S. fiscal policy and a broad retreat from traditional safe-haven assets. The world’s largest cryptocurrency reached $111,466.48 on Coinbase at 9:45 a.m., eclipsing its previous record of $109,358 set in January. The rally comes as investors seek alternatives to government bonds and equities, both of which have been roiled by market turbulence. The surge in Bitcoin coincided with a sharp drop in long-term U.S. Treasury yields, which fell more than 5 percent on Thursday. The movement rattled global financial markets, prompting a widespread sell-off in both bonds and stocks. The Dow Jones Industrial Average, the S&P 500, and the tech-heavy Nasdaq all posted their steepest monthly losses in recent memory. The sell-off in Treasuries underscored investor concerns over the U.S. fiscal outlook, as President Donald Trump’s proposed tax cuts raise fears of an expanding federal deficit. “They don’t include the greater risk that the countries in debt will print money to pay their debts, thus causing holders of the bonds to suffer losses from the decreased value of the money they’re getting,” said Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund. Bitcoin’s ascent was further bolstered by regulatory developments in Washington. On Monday, the Senate advanced the Genius Act, a bill aimed at establishing a regulatory framework for stablecoins. The legislation was widely interpreted as a step toward integrating digital assets into the mainstream financial system. Texas also contributed to the bullish sentiment. Lawmakers there passed legislation allowing the state to hold Bitcoin as a strategic reserve asset—a move that was cheered by crypto advocates. Abroad, the cryptocurrency trend is gaining political traction. In South Korea, Democratic Party presidential candidate Lee Jae-myung proposed the issuance of a stablecoin backed by the South Korean won, signaling growing interest in digital finance among policymakers. 2025-05-23 10:45:53

PHOTOS: Hands-on K-food experience SEOUL, May 23 (AJP) - Students from the University of Georgia recently got a taste of Korean cuisine, literally, participating in a hands-on cooking program at Sempio's headquarters in central Seoul. On May 22, the students delved into making popular dishes like Geotjeori, a fresh kimchi, and Bulgogi, the classic marinated beef. Sempio, a Korean food company, organized the event to introduce the visitors to the country's rich food culture and provide them with a direct experience of cooking. 2025-05-23 10:01:51

Korean Air, Asiana join hands for forestation project in Mongolia SEOUL, May 22 (AJP) - Korean Air said Thursday it has launched its annual reforestation project in Mongolia, joined for the first time by employees from Asiana Airlines. Roughly 260 new and supervisory employees from both airlines traveled to the “Korean Air Forest” in Baganuur District, on the outskirts of the city to participate in two weeks of tree-planting and forest maintenance. In a show of partnership, Korean Air employees flew on Asiana-operated flights and vice versa. The joint initiative began with the ceremonial planting of two pine trees to signify the growth and unity of the merging companies. Participants then engaged in planting and upkeep activities, including pruning to promote healthy tree development. Korean Air has maintained the Baganuur site since 2004 as part of a broader corporate social responsibility program aimed at combating desertification in Mongolia — a country heavily impacted by climate change and land degradation. Over the past 21 years, the Korean Air Forest has expanded to 44 hectares, roughly twice the size of Seoul’s Yeouido Park, and now includes more than 125,000 trees across 12 species, including poplars and sea buckthorns — species resilient to Mongolia’s arid climate. This year’s efforts extended beyond ecological restoration. In honor of Mongolia’s upcoming Children’s Day on June 1, Korean Air installed a new playground in the forest. Employees also visited nearby schools to offer lessons in Korean and English, as well as basic aviation engineering. The forest not only contributes to regional reforestation efforts but also serves a practical purpose, acting as a windbreak that shields nearby communities from airborne dust and pollutants generated by nearby coal mining operations. 2025-05-22 16:17:52

Kakao spins off sagging Daum portal to focus on core business SEOUL, May 22 (AJP) - South Korean tech conglomerate Kakao has spun off its long-struggling Daum portal business into a wholly owned subsidiary, ending an 11-year integration between the two companies. The board of directors approved the move on Thursday, establishing the new entity under the leadership of Yang Joo-il, who currently heads Kakao’s content division and oversees Daum operations. The spin-off, according to the company, is part of a broader effort to streamline operations and focus on core business areas. Once a dominant online portal alongside rival Naver, Daum has seen its market share dwindle to around 3 percent. “We have taken the first step toward building an environment that can respond nimbly to the deepening competitive market situation,” Yang said in a statement. The new subsidiary will initially operate Daum’s core services — including email, online communities, and its search engine — under a management contract, with a full business transfer expected by the end of the year. Kakao had previously established Daum as an internal independent unit in May 2023. The latest move formalizes that arrangement and grants full managerial autonomy to the portal business, a shift Kakao says will improve operational flexibility. While some analysts speculated the separation could be a precursor to an eventual sale, Kakao executives have pushed back on that notion, emphasizing a focus on revitalization. Speaking at a shareholder meeting in March, Kakao CEO Chung Shin-a dismissed the idea of selling Daum, saying, “Right now, the focus is on building a good company.” She added, “For a company to grow, people and structure must be in place, but I judged that Daum currently has a structure that makes it difficult to grow within Kakao.” Kakao has recently made a series of investments aimed at reviving Daum’s appeal. In January, the company launched a sweeping redesign of the Daum app — its first in nine years — followed in April by the introduction of enhanced content curation chatbots and short-form video services. 2025-05-22 16:10:50