Lee set to move into Cheong Wa Dae as renovations near completion SEOUL, December 22 (AJP) - President Lee Jae-myung is expected to move into Cheong Wa Dae in central Seoul soon, as renovations of the sprawling presidential compound are nearly complete. Some staff have already moved in, with the presidential office's daily press briefings resuming there on Monday. Lee's relocation from the current office in Yongsan to Cheong Wa Dae is expected to be completed as early as early as next week. Once moved in, he will have a shared workspace with top aides and key officials, including chief of staff Kang Hoon-sik, policy chief Kim Yong-bum, and national security adviser Wi Sung-lac, to facilitate closer communication with them. Repairs to the official residence are not finished, so Lee is expected to commute from the current residence in Hannam-dong for the time being. Taking office in June this year, Lee vowed to return to the compound but delayed doing so while it underwent repairs needed after several years of public access since May 2022 with the inauguration of his predecessor President Yoon Suk Yeol, who was impeached over his Dec. 3 declaration of martial law last year. Lee has said the Yongsan office has a structure vulnerable to eavesdropping and security risks, making it unsuitable as a presidential workplace. Lee may use Cheong Wa Dae until 2030 during his presidency, but he eventually intends to relocate the office to the administrative city of Sejong, where most ministerial offices and other government agencies have been moved since 2012 as part of efforts to promote balanced regional development. 2025-12-22 16:10:18

Hankook Tire's Hungarian plant donates tires to local community SEOUL, December 22 (AJP) - Hankook Tire & Technology said on Monday that its Hungary plant has donated 28,000 tires to local government bodies as well as nonprofit and charitable organizations under a corporate social responsibility initiative launched in 2012. The tire firm said said the initiative reflects the environmental, social and governance (ESG) management philosophy of the company and supports sustainable development in the Hungarian community. This year, the plant provided tire donations to around 130 public agencies and organizations, including groups focused on public safety and social welfare, it said. Recipients included child health organizations such as the Peter Cerny Foundation, which specializes in the rescue and transport of premature infants, and the Saint Martin Children’s Ambulance Service, which provides emergency care for seriously ill children. The company said the donations help ensure the reliable operation of their vehicles. Hankook Tire said it also expanded support to disaster response and environmental protection groups, including the Hungarian Water Rescue Service, the Delta National Disaster Rescue Team and the World Wide Fund for Nature. Additional recipients included volunteer neighborhood watch groups and fire departments, a foundation supporting people with disabilities, and animal protection organizations. Since establishing its Hungary plant in 2008, Hankook Tire has carried out community-focused initiatives across the country each year, including tire donations, infrastructure improvement projects, support for vulnerable households and youth scholarship programs, the company said. 2025-12-22 16:01:35

South Korea's Mirae Industries signs $7.5 million chip equipment supply deal SEOUL, December 22 (AJP) - Mirae Industries, a South Korean manufacturer of semiconductor back-end process equipment, said on Monday it has signed an additional supply contract worth $7.5 million with Unimos Micro Electronics for semiconductor inspection equipment. In a regulatory filing, the company said the contract is equivalent to 37.7 percent of its 27 billion won in revenue recorded last year. Mirae Industries said the latest order reflects the results of its efforts to expand overseas markets and boost exports. A company official said the deal “once again proves our competitiveness in the global market,” adding that cumulative sales through the third quarter have already surpassed full-year 2024 revenue. 2025-12-22 15:20:40

Frontline units told to assume border farther south to avoid clashes SEOUL, December 22 (AJP) - The South Korean military has internally instructed frontline units to consider the more southerly boundary when the Military Demarcation Line (MDL) along the inter-Korean border overlaps or is unclear, to avoid accidental clashes with North Korea. During a regular press briefing at the Ministry of Defense, Joint Chiefs of Staff spokesperson Lee Sung-joon said the military prioritizes MDL markers set up in the Demilitarized Zone (DMZ) and conducts comprehensive assessments in areas where such markers are unavailable, in response to North Korean incursions across the MDL, whether accidental or intentional. South Korea has responded to such violations by firing warning shots. The MDL is the ceasefire line drawn by the armistice signed on July 27, 1953. Of the roughly 1,292 markers installed at that time, only about 200 remain in place. Over time, South Korea marked the MDL on its military maps based on these markers. The UN Command also produced its own maps, resulting in differences that can reach tens of meters in some areas. North Korea has continued to violate the MDL since April last year, after beginning large-scale work near the DMZ, including mine removal and land development. North Korean soldiers have crossed the MDL 16 times since March, with 10 of those cases occurring last month. 2025-12-22 14:46:15

Korean Air, Asiana face fines for breaching merger conditions on seat supply SEOUL, December 22 (AJP) - South Korea’s antitrust regulator said on Monday it will impose penalties totaling 6.5 billion won ($5 million) on Korean Air and Asiana Airlines for violating merger-approval conditions that restrict sharp reductions in seat supply. The Fair Trade Commission (FTC) said it will fine Korean Air 5.88 billion won and Asiana 580 million won for breaching a corrective order that bars the airlines from cutting annual seat supply to below 90 percent of 2019 levels during the same period. The penalty is a monetary sanction imposed when companies fail to comply with corrective measures attached to a merger approval, the commission said. Korean Air and Asiana filed their merger notification in November 2020, with final approval granted on Dec. 24 last year. As part of the approval, the FTC enforced service requirements include limits on reductions in seat supply, caps on average fare increases, and the maintenance of seat pitch and free baggage allowances. According to the FTC, between Dec. 12, 2024, and March 28, 2025, the two airlines supplied 82,534 seats on the Incheon–Frankfurt route, equivalent to 69.5 percent of the 118,728 seats offered during the same period in 2019. This fell 20.5 percentage points short of the required threshold. The commission said the penalties are intended to raise compliance awareness and prompt tighter management of seat supply to prevent repeat violations. 2025-12-22 14:40:53

South Korea's strategic oil reserves hit 100 million barrels SEOUL, December 22 (AJP) - South Korea's strategic oil reserves have surpassed 100 million barrels for the first time, the government said on Monday. The Ministry of Trade, Industry and Energy said the final oil tanker carrying this year’s stockpiled crude arrived at the Korea National Oil Corp.’s storage base in Geoje, bringing state-held reserves to 100 million barrels. Privately held oil stockpiles stood at about 95 million barrels as of October. Combined public and private reserves are sufficient to cover more than 210 days of net daily imports, exceeding the standard set by the International Energy Agency (IEA), the ministry said. South Korea began building strategic oil reserves in 1980 after the first and second global oil shocks highlighted the risks of supply disruptions. Since then, reserves have been expanded systematically, the ministry said. As a result, South Korea now holds the fourth-largest oil stockpiles among IEA member countries, providing a strong buffer against global energy supply shocks. 2025-12-22 14:22:06

PHOTOS: Coal briquettes become symbol of solidarity SANGJU, December 22 (AJP) - During South Korea’s rapid industrialization, the yeontan — a cylindrical coal briquette — was the lifeblood of the working class, fueling the stoves that saw families through the harsh winters. While the nation has since transformed into a high-tech powerhouse, these "black diamonds" remain a critical, albeit fading, lifeline for the vulnerable. Though most of the country transitioned to oil boilers in the 1980s and eventually to widespread gas, the briquette has not disappeared. Its affordability makes it the primary heating source for low-income households living in older, marginalized neighborhoods. However, the low price of the coal itself belies the difficulty of its delivery. Each briquette weighs roughly 3.5 kilogram, and because many recipients live in steep, narrow alleyways inaccessible by truck, transportation costs can be prohibitive. This logistical gap has given rise to a unique culture of "Yeontan Volunteering." Central to this effort is the Yeontan Bank, a welfare organization that bridges the gap between donors and those in need. The bank manages monetary donations to purchase the fuel and coordinates legions of volunteers to deliver them by hand. The work is grueling and messy. Volunteers must prepare for a "battle" with anthracite dust, which stains everything it touches. Dressed in black clothing and shrouded in plastic raincoats, masks, and gloves, these "human chains" pass the heavy briquettes one by one up steep hills — ensuring that for the city’s most marginalized, the winter remains bearable. 2025-12-22 14:09:12

Seoul says it held nuclear talks with Russia despite Moscow's denial SEOUL, December 22 (AJP) - South Korea reportedly held talks with Russia to discuss multiple issues including North Korea's nuclear weapons program. According to diplomatic sources, a South Korean Foreign Ministry official handling North Korea-related issues traveled to Moscow and met with Oleg Burmistrov, the Russian Foreign Ministry's special envoy for North Korea's nuclear issues. Apart from a foreign ministers' meeting in September this year, this was the first gathering of nuclear officials since bilateral relations worsened after North Korea's troop deployment to Russia in October last year, drawing attention for possible changes. Observers believe South Korea urged Russia to play a "constructive role" in promoting peace on the Korean Peninsula. During the meeting, Seoul likely raised concerns about military cooperation between Pyongyang and Moscow, which violates UN Security Council resolutions, and also discussed efforts to bring an end to the ongoing war in Ukraine. Russia, however, denied the meeting, calling it an attempt to sow distrust between Moscow and Pyongyang, apparently mindful of North Korea. According to the Kremlin's state-run news agency TASS, Russian Foreign Ministry spokeswoman Maria Zakharova said in the statement, "The opponents of our cooperation with North Korea do not abandon their futile attempts to drive a wedge into the Russian-Korean comprehensive strategic partnership and sow distrust between the allied countries and the peoples of Russia and North Korea." She added, "Russia does not hold any consultations with the South Korean side, does not discuss with it any topics affecting bilateral relations between Pyongyang and Seoul, much less the 'North Korean nuclear problem' because there is no 'North Korean nuclear problem' for Russia.'" 2025-12-22 13:41:31

Korean sets record 20-day exports Dec, chips make up a third of total exports SEOUL, December 22 (AJP) -South Korea posted a record for first 20-day monthly exports in December, driven by a 42-percent jump in chip shipments that now account for nearly a third of total exports, customs-cleared preliminary data showed Monday. According to the Korea Customs Service, exports for Dec. 1–20 climbed 6.8 percent from a year earlier to US$43.03 billion, marking a fresh record for the first 20-day period. Average daily exports, adjusted for working days, rose 3.6 percent to US$2.61 billion. At a daily average of about US$2.6 billion for the full year, annual exports are on track to set a new milestone of US$700 billion. Semiconductors led the gains, jumping 41.8 percent. Chips accounted for 27.1 percent of total exports, up 6.7 percentage points from a year earlier. Semiconductor exports have risen for nine consecutive months through November, supported by strong demand for high-value memory used in artificial intelligence data centers and by higher memory prices. Computer peripherals surged 49.1 percent, while wireless communications equipment rose 17.8 percent. Passenger car and ship exports fell 12.7 percent and 21.7 percent, respectively. Shipments to the United States slipped 1.7 percent, weighed down by higher tariffs. Exports increased to China by 6.5 percent, Vietnam by 20.4 percent and Taiwan by 9.6 percent. Imports totaled US$39.21 billion, up 0.7 percent from a year earlier. By item, imports of semiconductors rose 11.8 percent, machinery 3.5 percent and precision instruments 12.5 percent, while crude oil fell 3.2 percent and gas declined 15.0 percent. By source, imports from China rose 3.9 percent, the United States 14.7 percent and Taiwan 12.8 percent, while those from the European Union fell 3.8 percent and Japan 2.3 percent. The trade surplus so far in December stood at US$3.8 billion. 2025-12-22 13:34:18

Santa rally reaches Asia, led by chip stocks SEOUL, December 22 (AJP) - Asian markets opened the week on signs of a “Santa Claus rally,” as a key overhang — Japan’s long-anticipated rate hike — was cleared last week, reviving risk appetite across the region. Chip stocks led the advance after strong earnings from Micron Technology and fresh optimism around high-bandwidth memory (HBM), reinforcing the global AI-driven semiconductor rally. In Seoul, the benchmark KOSPI was up 1.97 percent at 4,099 as of 10 a.m., raising hopes the index could close above the psychologically important 4,100 mark for the first time in ten days. Institutional investors spearheaded the rally with net purchases of 776.4 billion won ($525 million), supported by foreign inflows of 344.0 billion won. Retail investors appeared to be locking in gains after recent volatility, net selling 1.1 trillion won. The Korean won strengthened modestly to 1,477 per dollar, up 4 won from the previous close. Market participants attributed the move to year-end currency hedging by the National Pension Service and institutional investors seeking to lock in exchange rates ahead of the Dec. 30 market close. Blue chips traded broadly higher. Samsung Electronics gained 3 percent to 110,000 won after reports that its HBM4 samples received top-tier evaluations in quality tests for Nvidia. Rival SK hynix, the market leader in HBM, surged 4.75 percent to 575,000 won, emerging as a primary beneficiary of the improving AI memory outlook alongside Micron’s upbeat results. Korea Zinc, the world’s leading non-ferrous metal smelter and a focal point of ongoing corporate governance disputes, rose 5.4 percent to 1,380,000 won. Uncertainty surrounding its U.S. refinery investment eased after the South Korean government expressed a favorable stance, while Chairman Choi Yoon-bum and the Young Poong–MBK alliance reaffirmed their commitment to the project. Doosan Enerbility, seen as a bellwether for nuclear power and small modular reactors (SMRs), rose 2.2 percent to 79,000 won, defying lingering caution over a potential AI-sector bubble. In Tokyo, the Nikkei 225 jumped 2.1 percent to 50,557, as the removal of Bank of Japan-related uncertainty combined with Micron-led tech optimism to trigger broad-based buying. Semiconductor equipment makers led the gains. Tokyo Electron surged 6.3 percent to 33,160 yen ($210.7), while Advantest rose 3.5 percent, DISCO gained 4.8 percent, and Ibiden climbed 5.2 percent. Financial and holding companies also found favor, with SoftBank Group Corp. jumping 6.4 percent to 18,210 yen, buoyed by the BOJ’s rate move and easing AI-bubble concerns in New York. Mitsubishi UFJ Financial Group advanced 2.3 percent. Taiwan’s TAIEX rose 1.4 percent to 28,084, anchored by a 2.1 percent gain in TSMC, which traded at 1,460 Taiwan dollars ($46.33). MediaTek slipped 0.7 percent, while Foxconn edged up 0.7 percent. Mainland China showed a tech-led divergence. The Shenzhen Component Index rose 1.1 percent to 13,285, outperforming the more domestically focused Shanghai Composite’s 0.5 percent gain and the Hang Seng Index’s 0.3 percent rise. 2025-12-22 11:51:42