Nearly 70% of departing KT subscribers switch to SK Telecom after fee waiver SEOUL, January 03 (AJP) - More than 30,000 subscribers have left KT in the three days following the company's decision to waive early termination fees, with around 70 percent of those switching to SK Telecom. According to industry sources on Saturday, a total of 31,634 subscribers left KT between Dec. 31 and Friday, averaging more than 10,000 departures per day. Of those, 26,192 moved to rival mobile carriers, including 18,720 — more than 70 percent — who switched to SK Telecom. Another 7,272 subscribers moved to LG Uplus, while the remainder opted for budget mobile virtual network operators (MVNOs). Industry officials attribute the heavy shift toward SK Telecom to its customer reacquisition policies. Following last year's hacking incident, SK Telecom has been restoring subscription tenure and membership tiers for returning customers, a move that appears to have encouraged former users to switch back amid KT's penalty waiver. Differences in consumer trust are also believed to have played a role. While the SK Telecom case was largely concluded with the imposition of fines, LG Uplus remains under scrutiny over suspected record concealment. KT's compensation package itself has also been cited as a factor driving subscriber departures. Although the company offered termination of early fee waivers, additional data allowances and expanded membership benefits, the extra data benefit does not apply to users on unlimited data plans, who account for roughly 30 percent of its subscriber base. With KT's fee waiver program set to remain in effect until the 13th and rival carriers continuing aggressive customer campaigns, industry watchers expect further subscriber losses in the coming days. All three of South Korea's major mobile carriers were attacked by hackers last year. A joint public-private investigation led by the Ministry of Science and ICT found that KT's breach involved a significantly larger scale of malware infections than the incident at SK Telecom, while SK Telecom was assessed to have suffered greater damage in terms of personal data leaks. LG Uplus is expected to face an intensive police investigation following allegations of false submissions and server disposal related to its breach. 2026-01-03 14:51:15

Police arrest taxi driver in fatal Jonggak Station crash after positive drug test SEOUL, January 03 (AJP) - Police have arrested a taxi driver after he tested positive for drugs following a fatal crash near Jonggak Station in central Seoul, officials said Saturday. According to police, the driver was detained after a preliminary drug test showed a positive result for morphine. The accident occurred at around 6 p.m. Friday on a road near Jonggak Station in Seoul's Jongno District, when a taxi collided with two vehicles. The collision sent the taxi onto the sidewalk, killing one pedestrian and injuring 13 others. Police said the electric taxi, driven by a man in his late 70s, first struck a vehicle, crashed into a signal pole at a crosswalk and then hit another vehicle ahead. In the process, pedestrians waiting to cross the street were struck and knocked to the ground. Among the injured was a woman in her 40s, a South Korean national, who suffered cardiac arrest. She was transported to a hospital while receiving cardiopulmonary resuscitation (CPR) but later died. Police said they have not ruled out the possibility that the driver had taken legally prescribed medication, such as cold medicine, and have requested a detailed analysis from the National Forensic Service. A further investigation will be conducted into potential vehicle defects, the driver's health condition and the circumstances surrounding any drug use before deciding whether to seek an arrest warrant. 2026-01-03 11:04:57

Cold snap grips South Korea over first weekend of new year SEOUL, January 03 (AJP) - South Korea was hit by a sharp cold snap over the first weekend of the new year, with temperatures dropping to around minus 10 degrees Celsius nationwide on Saturday, the Korea Meteorological Administration (KMA) said. Morning temperatures in most regions hovered near minus 10 degrees Celsius, while strong winds pushed wind chill values even lower. The cold spell, however, is expected to ease from Saturday afternoon, with temperatures gradually rising to seasonal averages. According to the KMA, temperatures will remain close to the seasonal norm for the time of year, with average lows ranging from minus 12 to zero degrees Celsius and daytime highs between 1 and 9 degrees. Highs on Saturday are forecast to reach between zero and 8 degrees Celsius. On Sunday, morning lows are expected to range from minus 10 to 2 degrees Celsius, with daytime highs climbing to between 1 and 10 degrees. Some regions are forecast to see light rain or snow over the weekend. Parts of the west coast of South Chungcheong Province may receive less than 1 centimeter of snowfall or around 1 millimeter of precipitation through Saturday afternoon. Light snow flurries of under 0.1 centimeter are expected in mountainous areas of Jeju Island through Saturday morning, along the southern Gyeonggi coast through Saturday night, and across Chungcheong Province and North Jeolla Province until Sunday morning. The KMA warned that icy roads and black ice could form in areas experiencing rain or snow, urging both drivers and pedestrians to exercise caution. Dry weather conditions are also expected to persist in Seoul, parts of inland Gyeonggi Province, the east coast and mountainous areas of Gangwon Province, eastern South Jeolla Province, and much of the Gyeongsang region, raising the risk of wildfires and other fires. Fine dust levels are forecast to remain at "moderate" levels across most of the country on Saturday, but air quality is expected to deteriorate to "poor" in Seoul, southern Gyeonggi Province, Sejong, North Chungcheong Province and North Jeolla Province on Sunday. 2026-01-03 09:54:21

Korean president reaffirms one-China policy ahead of summit in Beijing SEOUL, January 03 (AJP) - South Korean President Lee Jae Myung reaffirmed Seoul’s respect for the “one-China” policy on Taiwan in an interview with China Central Television ahead of his summit with Chinese President Xi Jinping, underscoring his administration’s intent to stabilize and recalibrate relations with Beijing. “The healthy development of South Korea–China relations depends on full respect for each other’s core interests,” Lee said in the interview, according to CCTV’s Chinese-language translation released on Friday. “With regard to China’s most core concern, the Taiwan issue, we will uphold our position of respecting the one-China stance.” Lee stressed that the diplomatic principles agreed upon when Seoul and Beijing established formal ties in 1992 remain valid and continue to serve as the “core guidelines” for bilateral relations. He added that maintaining peace and stability in Northeast Asia, including across the Taiwan Strait, is a shared responsibility. The remarks come as tensions have risen in the Taiwan Strait, following large-scale Chinese military drills near Taiwan earlier this week. Taiwan’s current ruling party has consistently rejected Beijing’s sovereignty claims over the self-governed island. Addressing concerns over regional alignments, Lee said South Korea’s military alliance with the United States does not imply confrontation with China. He emphasized that Seoul seeks a “new, equal and cooperative relationship” with Beijing, particularly in artificial intelligence and other advanced technology sectors. Lee also highlighted the two countries’ shared historical experience of resisting Japanese aggression during World War II, calling for greater efforts to learn from history and prevent its repetition. As part of efforts to institutionalize dialogue, the South Korean president proposed holding annual summit meetings with China’s leader, signaling a push for more regular and structured high-level engagement. Lee’s four-day state visit to China begins Sunday, with talks expected to cover regional security, economic cooperation and technology partnerships amid an increasingly complex geopolitical environment in East Asia. 2026-01-03 08:04:36

A deadly cab crash near Jonggak station in Seoul kills 1, injures 9, 4 of them foreigners SEOUL, January 03 (AJP) -A taxi sped onto a sidewalk near Jonggak Station in central Seoul on Friday evening, striking pedestrians and two vehicles to leave one dead and nine injured, officials said. The crash happened about 6:05 p.m. on a road in front of Jonggak Station on Seoul Subway Line 1, according to the Jongno Fire Station and other authorities. The taxi hit people in a crosswalk and then collided with two vehicles, they said. Nine people, including four foreigners, suffered injuries ranging from serious to minor. A woman in her 40s was found in cardiac arrest and was taken to a nearby hospital while receiving CPR but later died. Another woman in her 30s with a pelvic injury was also hospitalized. Four of the injured were passengers in the taxi, officials said. One was an Indian, and three others Indonesians. The taxi came to a stop after hitting a roadside barrier on the sidewalk. A fire was reported in one vehicle during the collisions, officials said. Police restricted access to the area, citing concerns about a possible explosion based on the condition of the vehicles. Police said the taxi driver, in his late 70s, showed no signs of alcohol or drug use. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-03 07:54:18

Samsung Electronics to kick off earnings season with bumper Q4, signaling AI-driven boom SEOUL, January 02 (AJP) - Samsung Electronics will kick off the tech sector’s preliminary fourth-quarter earnings season next week, offering an early gauge of the scale of surging demand for memory chips amid aggressive stockpiling driven by the global AI boom. Market consensus compiled by FnGuide shows the South Korean tech giant is expected to post operating profit of about 15.5 trillion won (about $10.7 billion) for the quarter ended December, more than doubling the 6.49 trillion won (about $4.5 billion) recorded a year earlier. The sharp rebound reflects strengthening prices across memory products as supply tightens and data-center investment accelerates. Prices have risen broadly across both DRAM and NAND, spanning mass-market to customized high-performance chips. Market tracker TrendForce estimates DRAM prices rose 13–18 percent in the October–December period, while NAND flash prices climbed 5–10 percent, supported by improving server demand and disciplined supply. Samsung will release a detailed breakdown by business division later this month when it publishes its final earnings report. For full-year 2025, Samsung’s operating profit is projected at around 39.15 trillion won, up roughly 20 percent from an estimated 32.7 trillion won in 2024, according to brokerage forecasts compiled in recent weeks. Against this backdrop, Jun Young-hyun, head of Samsung’s Device Solutions (DS) division, has urged employees to strengthen the company’s “technology fundamentals” across memory, logic and advanced packaging. He said Samsung aims to fully leverage its integrated structure to respond to surging AI demand while deepening engagement with key customers. The Device Experience (DX) division, which covers smartphones, TVs and home appliances, faces a more mixed outlook. Global smartphone shipments are forecast to grow 2–3 percent in 2026, but competition in AI-enabled premium devices is intensifying. Samsung’s Galaxy S26 launch and the broader industry shift toward on-device AI are expected to play a key role in shaping performance. Roh Tae-moon, head of the DX division, said the unit will push “AI transformation” across products and internal operations, stressing the need for tighter execution and faster decision-making amid volatile consumer demand. Looking ahead, analysts expect Samsung Electronics’ operating profit to climb to around 85.4 trillion won in 2026, with some bullish forecasts exceeding 100 trillion won, assuming stable memory pricing and sustained investment in AI servers. Foundry revenue is projected to grow more modestly as Samsung ramps up its 2-nanometer-class gate-all-around (GAA) processes, though competition with Taiwan Semiconductor Manufacturing Co. remains a key challenge. In consumer electronics, demand remains subdued. Research firm Omdia forecasts global TV shipments will rise by about 1 percent in 2026, supported in part by replacement demand tied to major sporting events, including the North and Central America World Cup. In its New Year messages, Samsung also underscored the importance of compliance, safety and supply-chain stability, saying the company must reinforce execution capabilities amid heightened geopolitical uncertainty and the rising capital intensity of AI infrastructure. 2026-01-02 17:54:23

Former Bigbang member to release solo album SEOUL, January 2 (AJP) - T.O.P, a former member of now-almost-defunct K-pop boy band Bigbang is expected to release a new album later this year. The rapper hinted at the release of his solo album in a post on social media with a message "A new album is on the way. Once released, it will be his first solo album since 2013. The disgraced star received a two-year suspended sentence in 2017 for smoking marijuana with a young starlet at his home in Seoul the previous year. But he drew renewed attention in December 2024 after appearing in the second season of Netflix's hit South Korean series "Squid Game." 2026-01-02 17:32:37

KOSPI opens 2026 on buoyant note, hits fresh milestone SEOUL, January 02 (AJP) - South Korean stocks roared into 2026, extending last year’s standout rally, while most Asian markets opened the year on a subdued footing. In Seoul, the benchmark KOSPI jumped 2.3 percent to close at a fresh all-time high of 4,309.63, while the tech-heavy KOSDAQ climbed 2.2 percent to 945.57. Investor sentiment was buoyed by record-high semiconductor exports. Shipments surged 22.2 percent from a year earlier in December to $17.34 billion, setting a new annual high and reinforcing optimism over Korea’s chip-led growth momentum. Shares of heavyweight chipmakers rallied sharply. Samsung Electronics jumped 7.2 percent to close at 128,500 won ($88.9), while SK hynix advanced 4 percent to 677,000 won, both hitting record highs. Hyundai Motor gained 0.7 percent to 298,500 won, while HD Hyundai Electric climbed 5.8 percent to 819,000 won. Celltrion surged 12 percent to end at 202,500 won after the biotech firm projected record fourth-quarter earnings for 2025. On Wednesday, when the market was closed, the company said consolidated fourth-quarter sales are expected to reach 1.2839 trillion won ($888 million), up 20.7 percent from a year earlier, while operating profit is projected to jump 140.4 percent to 472.2 billion won — both all-time quarterly highs. Kwon Hae-soon, an analyst at Eugene Investment & Securities, said Celltrion is likely to deliver earnings that exceed market expectations “thanks to its improved product mix and enhanced cost control,” raising her target price to 250,000 won. Seo Geun-hee, an analyst at Samsung Securities, also lifted her target price to 230,000 won, citing a recovery in profitability driven by new product growth and strengthening market share in the United States. LG Energy Solution, the country’s third-largest company by market capitalization, slipped 2 percent to 361,000 won. Entertainment stocks rallied after news broke that BTS is set to make a full-group comeback on March 20, 2026. HYBE, the group’s agency, jumped 4.9 percent to 346,000 won. JYP Entertainment climbed 6.8 percent to 77,500 won, while YG Entertainment rose 1.4 percent to 70,400 won. Analysts said entertainment shares were also buoyed by growing expectations that China’s de facto restrictions on Korean cultural content could ease, as President Lee Jae Myung is scheduled to visit China from Jan. 4 to 7 and meet President Xi Jinping on Jan. 5. Elsewhere in Asia, Japan’s Nikkei 225 slipped 0.4 percent to close at 50,339.48, with losses concentrated among heavyweight stocks. Toyota Motor fell 0.2 percent to 3,356 yen ($21.4), Mitsubishi UFJ Financial Group edged down 0.1 percent to 2,493 yen, and SoftBank Group declined 1.9 percent to 4,400 yen. Sony Group slipped 0.1 percent to 4,024 yen, Hitachi dropped 0.6 percent to 4,902 yen, and Sumitomo Mitsui Financial Group fell 1.6 percent to 5,041 yen. Fast Retailing, the sixth-largest stock by market capitalization, gained 1 percent to 56,940 yen, while Tokyo Electron, ranked seventh, rose 0.3 percent to 34,320 yen. In China, the Shanghai Composite Index edged up 3.72 points to close at 3,968.84. 2026-01-02 17:15:40

Squeezed by lunch inflation, Korean salaried workers find traditional meals increasingly pricey SEOUL, January 02 (AJP) - With lunch inflation continuing to climb, the typical midday meal for South Korea’s salaried workers is quietly changing. Once a go-to comfort food, hot or cold noodle dishes are becoming noticeably more expensive, driven largely by rising import costs. Kalguksu — the traditional knife-cut noodle soup — has reached a fresh record high, reflecting the prolonged impact of a weak won and higher input prices. According to data from the Korea Consumer Agency, the average price of a bowl of kalguksu in Seoul stood at 9,846 won ($6.82) as of November 2025, up 4.91 percent from a year earlier and edging closer to the psychologically important 10,000-won mark. Among major dining-out items tracked by the agency, kalguksu posted the second-largest annual price increase, trailing only gimbap. Other popular meals such as naengmyeon (cold noodles) and bibimbap also recorded notable price hikes. Overall, noodle prices have been rising by an average of about 5 percent annually since 2023, reflecting sustained cost pressure in the food sector. Analysts point to currency weakness as the main driver. Between November 2024 and November 2025, the average won-dollar exchange rate climbed 4.3 percent, from 1,395 won to 1,455 won per dollar. Over the same period, international wheat prices on the Chicago Board of Trade remained relatively stable, suggesting that exchange-rate effects — rather than global commodity spikes — are pushing up costs. South Korea depends on imports for nearly 98 percent of its wheat consumption, with domestic self-sufficiency hovering around just 2 percent. As a result, fluctuations in the currency are quickly passed on to food prices, especially for flour-based dishes. A walk through Seoul’s Jongno district on Friday showed that many restaurants now charge 10,000 won or more for a bowl of kalguksu, while eateries offering the dish for under 9,000 won have become increasingly hard to find. As traditional meals grow pricier, fast-food chains are moving quickly to position themselves as cheaper lunch alternatives. Major franchises now offer set menus priced between 6,000 won and 7,000 won — up to 40 percent cheaper than a typical bowl of kalguksu. Burger King, for example, has rolled out “two for 6,000 won” deals on Whopper Jr. sets. McDonald’s and Mom’s Touch, a domestic chicken-burger chain, also maintain lunch menus priced at around 6,300 won and 7,000 won, respectively. The shift toward burgers and fast food is also reflected in corporate earnings. Amid persistent meal-price inflation since 2024, McDonald’s Korea posted record annual revenue of 1.29 trillion won and returned to operating profit for the first time in eight years. Mom’s Touch likewise reported record results, with consolidated revenue of 417.9 billion won and operating profit of 73.4 billion won. Burger King Korea also delivered strong performance, logging 792.7 billion won in revenue and 38.4 billion won in operating profit, underscoring how value-oriented menus are reshaping lunchtime consumption patterns. As everyday meals grow more expensive, the humble lunch — once a small pleasure in the middle of the workday — is becoming another pressure point for Korea’s salaried workers, highlighting how currency weakness and food inflation are quietly reshaping daily life. 2026-01-02 17:15:27

Faker becomes first esports player decorated with highest athletic honor SEOUL, January 2 (AJP) - Lee Sang-hyeok, better known as Faker, has become the first esports player to receive the highest honor awarded to athletes who have made outstanding sporting achievements while promoting national reputation. The iconic player of multiplayer online battle arena game League of Legends (LoL) was awarded the Blue Dragon Medal by President Lee Jae-myung at a New Year's event at Cheong Wa Dae on Friday. Accepting the medal, Lee said, "I'm deeply honored to receive this medal. I could not have achieved this without the teammates who have journeyed with me." Previous recipients include football player Son Heung-min, figure skating star Kim Yu-na and baseball pitcher Park Chan-ho, making Faker the first esports player to receive the honor. Faker, who turned pro with his team T1 at the age of 17 in 2013, continues to be a pivotal figure in the sport, winning ten domestic LoL championships and claiming his sixth career trophy at the LoL World Championship, the sport's biggest event, in November last year. Known for his strict self-discipline, he enjoys immense popularity among fans, becoming a sought-after model for advertisers as well. 2026-01-02 17:05:40