HD Hyundai's 2025 profit more than doubles on shipbuilding boom SEOUL, February 12 (AJP) - HD Hyundai said in a regulatory filing on Thursday that its 2025 operating profit more than doubled, driven by strong profitability in shipbuilding and offshore operations. The group reported consolidated revenue of 71.26 trillion won ($49.5 billion) for 2025, up 5.2 percent from a year earlier, while operating profit surged 104.5 percent to 6.1 trillion won. HD Hyundai said earnings growth was led by improved margins in shipbuilding and offshore businesses, with broad-based gains also recorded across units including power equipment. Shipbuilding and offshore holding company HD Korea Shipbuilding & Offshore Engineering posted revenue of 29.93 trillion won, up 17.2 percent, while operating profit jumped 172.3 percent to 3.9 trillion won. The company attributed the improvement to a higher proportion of high-priced vessels and increased production volumes resulting from efficiency gains. Among key subsidiaries, HD Hyundai Heavy Industries reported revenue of 17.58 trillion won and operating profit of 2.04 trillion won, while HD Hyundai Samho posted revenue of 8.07 trillion won and operating profit of 1.36 trillion won. Ship services and parts provider HD Hyundai Marine Solution reported revenue of 1.98 trillion won, up 13.6 percent, and operating profit of 350.1 billion won, up 28.9 percent. Engine affiliate HD Hyundai Marine Engine recorded revenue of 402.4 billion won and operating profit of 75.9 billion won, supported by higher engine output and parts sales. Solar panel unit HD Hyundai Energy Solutions posted revenue of 492.7 billion won and operating profit of 41.2 billion won, benefiting from stronger global sales and a recovery in selling prices. Energy affiliate HD Hyundai Oilbank reported revenue of 28.02 trillion won, down 8 percent from a year earlier, but operating profit rose 83.7 percent to 474 billion won as refining margins improved. The company said it plans to respond to global supply-chain shifts by diversifying crude sourcing and optimizing refinery operations. Power equipment maker HD Hyundai Electric posted revenue of 4.08 trillion won, up 22.8 percent, with operating profit climbing 48.8 percent to 995.3 billion won. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-12 16:06:51

Foreign home purchases in Seoul halve after Korea tightens property rules SEOUL, February 12 (AJP) - Foreign purchases of homes in Seoul fell by more than half after the government designated the capital and key parts of the greater metropolitan area as land-transaction permit zones for foreign buyers. The Ministry of Land, Infrastructure and Transport said Thursday its review of apartment and other home transactions from September to December last year showed sales by foreign buyers declined across designated areas compared with a year earlier. In the wider capital region — encompassing Seoul, Gyeonggi Province and Incheon — foreign home purchases fell 35 percent to 1,481 transactions from 2,279 a year earlier. The government introduced the permit requirement in August following criticism that foreign buyers were purchasing high-priced properties for speculative purposes and contributing to market overheating. Under the rule, approved buyers must occupy the property for at least two years. Seoul recorded the sharpest decline, with transactions dropping 51 percent to 243 from 496. Within the capital, purchases in the upscale Gangnam, Seocho and Songpa districts, along with Yongsan District, fell 65 percent. Seocho posted the steepest decline among Seoul’s 25 districts, with transactions plunging 88 percent to 11 from 92. By nationality, purchases by Chinese buyers fell 32 percent to 1,053, while transactions by U.S. buyers declined 45 percent to 208. Chinese nationals still accounted for 71 percent of foreign purchases, with Americans making up 14 percent, largely unchanged from a year earlier. First Vice Minister Kim I-tak said the decline suggested that demand contributing to overheating in parts of the housing market was easing. “The government will cooperate closely with local governments to thoroughly verify compliance and establish a housing market centered on real demand,” Kim said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-12 15:53:13

Cheong Wa Dae expresses regret over canceled meeting with DP, PPP leaders SEOUL, February 12 (AJP) - Cheong Wa Dae on Thursday expressed "regret" over the cancellation of a planned luncheon meeting hosted by President Lee Jae Myung with the leaders of the leading parties. "It is very regrettable that the meeting was canceled," said Hong Ik-pyo, senior presidential secretary for political affairs. "It was meant to improve communication and bipartisan cooperation on key state affairs, but the chance to fulfill that purpose was lost." Lee's planned meeting with the ruling Democratic Party (DP)'s leader Jung Chung-rae and the main opposition People Power Party (PPP)'s leader Jang Dong-hyeok was called off earlier in the day after Jang abruptly decided not to attend. Criticizing Lee's proposal for talks as a "mere photo-op" to distract from his wrongdoings, Jang cited a couple of reasons he could not attend. Among them was a DP-led bill to increase the number of Supreme Court justices, which opponents argue would undermine judicial independence by stacking the top court with ideologically like-minded and favorable judges. But Hong said Cheong Wa Dae would continue to seek cooperation and pursue dialogue to improve people's livelihoods. 2026-02-12 15:36:17

LocknLock highlights new products, meets partners at Ambiente 2026 SEOUL, February 12 (AJP) - South Korean household goods maker LocknLock said on Wednesday it has completed its participation in Ambiente 2026, the world’s largest consumer goods trade fair, held in Frankfurt from Feb. 6 to 10, where it showcased new and flagship products to global buyers. The company said the event, which drew brands and buyers from 176 countries, served as a platform to present its portfolio across food storage containers, beverageware, cookware and child-friendly product lines. LocknLock added that its booth was designed to allow visitors to navigate each product category and that it hosted partner invitation programs and on-site events to engage buyers and visitors. At the exhibition, LocknLock introduced a range of products planned for 2026, including items from Daekket, a premium cookware brand it launched earlier. The company said Daekket focuses on products that link cooking and plating and has received positive market feedback since its debut. In the food storage segment, LocknLock showcased its Fresh Maestro Vacuum Container, which uses a three-stage vacuum sealing system, while in beverageware it presented the Metro Café Ceramic Tumbler, featuring an interior ceramic coating designed to preserve beverage taste. The company said the tumbler drew strong interest from visitors. LocknLock also displayed products already popular in the Korean market, including the Suit stainless frying pan and the Schoolfit Switch Color stainless steel bottle, which changes color depending on temperature. The company said it held meetings with around 40 partners during the exhibition to discuss operational plans for new products and global sales strategies for 2026, and also met potential new buyers to explore opportunities in new markets. LocknLock exports to about 120 countries through eight overseas subsidiaries, including in Vietnam, the United States and Germany, and has expanded its business beyond food storage containers into beverageware and small appliances, it said. “During the exhibition, we discussed operational plans for new products and global sales strategies for 2026 with key partners, and confirmed the potential to expand into new markets through meetings with new buyers,” said a LocknLock representative. 2026-02-12 15:32:51

Culture minister vows bigger budget to back K-culture, weighs 'Korea Arena' concept "I will firmly support K-culture so it can keep pushing forward," Culture, Sports and Tourism Minister Choi Hwi-young said Feb. 12 at a meeting with reporters in Seoul, repeatedly stressing the need to significantly expand the culture budget. Choi said K-culture is gaining strength and spreading widely into everyday life around the world, adding, "I will not miss this opportunity." He said there is growing agreement that because culture and the arts are recognized as a driver of South Korea's economic growth, the government should increase spending. "I will move to expand the scale of cultural funding," he said. Choi pointed to a pop culture exchange committee that includes major figures in the global entertainment industry, saying the goal is to quickly identify and carry out projects that can speed and broaden K-culture's overseas expansion. He said the committee is discussing mid- and long-term ideas, including a plan for a global festival in 2027 that would bring artists from all agencies together in South Korea. He also said the ministry is reviewing concepts such as a "Korea Arena" and "Korea Stadium," inspired by Korea House, arguing that securing dedicated venues in cities around the world could allow South Korea to install a wide range of K-culture-related elements inside them. Asked about BTS holding a comeback performance at Gwanghwamun, Choi said, "I'm truly grateful," and pledged support so visitors from abroad have an enjoyable, memorable experience. He called it meaningful that a globally watched return would begin at Gwanghwamun and said the ministry is preparing for the event in consultation with BTS, describing it as a chance to showcase South Korea's core culture, including traditional culture, overseas. On tourism, Choi said he expects a stronger control tower as the National Tourism Strategy Meeting is elevated to report directly to the president. He said the move reflects the will of President Lee Jae Myung and said a comparison with Japan showed that Japan increased inbound tourism as then-Prime Minister Shinzo Abe personally pushed through difficult issues. Choi said the president has expressed a strong intention to take direct charge and break through obstacles, adding he expects it could become a turning point for a new leap forward. Choi also said he will work to quickly fill leadership vacancies at agencies under the ministry, including the Korea Creative Content Agency. On the Hangul signboard at Gwanghwamun, he said the government will decide whether to proceed after gathering public opinion through a public discussion process. Responding to criticism that expanding "Culture Day" would increase burdens on the industry, Choi said it is a misunderstanding to assume existing discount benefits would remain unchanged, adding that nothing has been set uniformly. He said the relocation of the Seoul Performing Arts Company to Gwangju will proceed, while additional plans to move other national arts groups outside Seoul are under review.* This article has been translated by AI. 2026-02-12 15:18:00

BTS Comeback D-37: 600 years, 1 night, and 7 voices bring the world together  SEOUL, February 10 (AJP) - Cities are defined by lines. In Joseon-era Hanyang (now Seoul), those lines were the four great gates. They marked where authority began and where daily life ended, where the state met the street. Within that geometry, one point drew all lines inward: Gwanghwamun, the royal gateway to Gyeongbokgung Palace. For centuries, this was where the king entered the city and the people first met power. Over time, it became something else as well — a site of protests, ceremonies, mourning and celebration. The former heart of a dynasty slowly evolved into the civic face of modern Seoul. What remained constant was its role as a threshold: between palace and street, authority and public, past and present.That threshold is now preparing to host a different kind of procession. The Forgotten Stage Beneath the City In front of Gwanghwamun once stood a broad ceremonial platform known as the weol-dae. Built in 1868 during the restoration of the palace, it elevated the gate both physically and symbolically. This was where royal authority was displayed, where rituals unfolded, and where the court faced the city. It disappeared in 1923, buried beneath tram tracks under the Japanese colonial rule. For nearly a century, it survived only in maps and memory. Then, during restoration work in 2010, its foundations re-emerged underground. After years of excavation and study, the wol-dae was fully restored in 2023. Stone by stone, time was stitched back into place. Today, it stands again — not as a relic, but as a working part of Seoul’s urban landscape. Another king's platform was set in the Geunjeongjeon, the throne hall where kings gave orders for everyday governance. If that inner weol-dae symbolized the king's elevated power, the outer one at Gwanghwamun represented connection — the meeting point of palace and people. It is here, at this historic edge, that BTS’s stage is expected to rise. The King’s Road, Reimagined From Geunjeongjeon, through Heungnyemun, and out to Gwanghwamun, runs a straight ceremonial axis once reserved for royal processions. It was known, informally, as the king’s road. For centuries, only authority moved along it. The government and people have granted for the entrance of seven musicians. According to event plans, the performance area is expected to stretch from the palace gates to the northern end of Gwanghwamun Square, aligning with the statues of King Sejong and Admiral Yi Sun-sin. Large screens will extend the stage across the plaza, turning the entire space into a single, continuous performance zone. The concert will unfold across a historic corridor. A route once designed for monarchs will guide a global pop phenomenon. When History Meets the Present There is a reason this setting matters. Gwanghwamun has always been more than architecture. It is where Korea’s political, cultural and emotional currents have repeatedly converged. Dictatorships fell here. Candlelight protests filled this square. National mourning unfolded on these stones. Now, music will. On stones shaped for royal ritual, choreography will unfold. Along an axis designed for kings, fans will gather. Beneath gates built to defend a dynasty, music will travel instantly around the world. It is a reminder of how Seoul moves forward: not by erasing its past, but by reusing it. From the four gates to the central gate, from throne halls to public squares, from royal processions to pop anthems, one line continues to run through Seoul. On March 21, that line will carry sound, light and memory — from the heart of a former kingdom to a global audience. The oldest stage will host the most contemporary voice. 2026-02-12 15:17:40

T’way Air tops 11 million passengers in 2025 T’way Air said Wednesday that its total passenger count for 2025 topped 11 million. The figure was up about 10% from roughly 9.9 million passengers in 2023, when travel demand began recovering after the COVID-19 pandemic, and up 5% from 10.5 million the year before. T’way Air operated 50 scheduled routes in 2023. It expanded service with new Europe routes such as Paris and Rome in 2024 and broadened international flights departing from regional airports via Cheongju and Jeju last year, bringing its total to 63 scheduled routes. In Japan, the carrier flies from Incheon to Fukuoka, Osaka and Tokyo’s Narita airport, and also operates routes including Daegu-Fukuoka, Daegu-Osaka and Daegu-Narita; Busan-Fukuoka, Busan-Sapporo and Busan-Osaka; and Cheongju- and Jeju-origin flights to Fukuoka and Osaka. New routes in Southeast and Northeast Asia also helped lift results, the airline said. After launching Cheongju-Bali (Denpasar), it expanded service including Incheon-Danang, Incheon-Bangkok and Incheon-Singapore; Daegu-Bangkok and Daegu-Danang; Busan-Nha Trang; and Jeju-Singapore, Jeju-Taipei (Taoyuan) and Jeju-Kaohsiung. In Europe, mid- and long-haul routes from Incheon to Paris, Rome, Frankfurt and Barcelona began full operations in 2024, driving a sharp rise in passengers, it said. Expansion was also supported by the Incheon-Vancouver route and additional service to Oceania (Sydney) and Central Asia, including Mongolia. A T’way Air official said surpassing 11 million passengers in 2025 reflected customers’ trust and support. The official said the airline will continue to prioritize safe operations while maintaining reasonable fares and strengthening its route competitiveness. * This article has been translated by AI. 2026-02-12 15:06:00

Test drive: KG Mobility revives Musso pickup with new diesel and gas options "An appealing vehicle with a solid, heavyweight feel." South Korea’s Musso pickup is back. KG Mobility (KGM) is rolling out a new Musso this year, packaging what it calls 24 years of pickup heritage as it moves to expand its share of the market. On Tuesday, the reporter drove about 120 kilometers (75 miles) round trip from Times Square in Seoul’s Yeongdeungpo district to Have Fun Cafe in Paju to test the new Musso. The diesel model felt large enough to fill a parking-space lane edge to edge. From the moment it left a basement level and threaded through a narrow ramp, the Musso’s pickup character was clear. With its long body, simply exiting the garage felt like a test. After climbing wet pavement on a steep, winding section to street level, the relief was simple: it made it out without a scrape. Once on the road, the high seating position provided more stability than expected. Forward visibility was easy, and the wide body was simple to judge — a feel somewhere between a large truck and an SUV. At a stoplight near Yeongdeungpo Market, the auto stop-start system kicked in. Pressing the brake shut off the engine, noticeably reducing noise, and it restarted smoothly as soon as the driver lifted off the pedal. The diesel model was quieter than the stereotype suggests. On the Jayuro expressway near Ilsan, the diesel 2.2-liter engine delivered its rated 202 horsepower and 45.0 kg·m of torque. Over rough sections, the suspension absorbed bumps smoothly. The ride benefited from a “five-link dynamic suspension,” a setup the article said is used on premium vehicles such as the Mercedes-Benz G-Wagen and Jeep models, keeping body movement in check on uneven pavement. For the return trip, the driver switched to the Musso’s 2.0-liter turbo gasoline model — the biggest change in the new lineup. It is rated at 217 horsepower and 38.7 kg·m of torque. While the diesel emphasizes torque and fuel economy, the gasoline version is positioned for quieter operation and quicker response, which was evident on the Jayuro. The test drive suggested KGM is trying to broaden the pickup into a more everyday vehicle. The new Musso traces its roots to the 2002 Musso Sports, South Korea’s first sport utility truck (SUT), followed by the Actyon Sports (2006), Korando Sports (2012) and Rexton Sports & Khan (2018). KGM says it has sold close to 500,000 pickups in South Korea, a market long seen as unfriendly to the segment. The new Musso also aims to strengthen utility as a work vehicle. The standard model offers 1,011 liters of cargo space and can carry up to 400 kilograms (882 pounds). The long-deck version provides 1,262 liters and supports up to 700 kilograms (1,543 pounds). Options such as a hardtop are also available, positioning it for both commuting and leisure use.* This article has been translated by AI. 2026-02-12 15:03:00

South Korea forms task force to prepare for nuclear sub talks with US SEOUL, February 12 (AJP) - The Ministry of Foreign Affairs said on Thursday that it has formed a task force ahead of talks with the U.S. on building nuclear-powered submarines, as part of a broader tariff-related deal between the two allies. The task force is expected to prepare for a visit by a group of U.S. officials to discuss relevant issues and proceed with follow-up steps, based on a joint fact sheet released in November last year that outlines the details of the deal reached during U.S. President Donald Trump's visit here in late October. Under the deal, Seoul and Washington agreed to lower reciprocal tariffs from 25 percent to 15 percent in return for Seoul's major investment pledge to the U.S., along with a go-ahead to build its own nuclear-powered submarines, reprocess spent nuclear fuel rods and enrich uranium. But these nuclear-related agreements would inevitably require the revision of a decades-long nuclear energy pact first signed in 1974, which restricts the scope of nuclear technology South Korea can use for civilian purposes. That has led some to suggest a separate deal may be needed for nuclear-powered subs, which is believed to be one reason the task force was formed. However, an uphill road lies ahead, as the deal itself now faces uncertainty after Trump threatened to raise tariffs again, complaining of delays in its implementation. 2026-02-12 14:49:17

Hwang Hee-chan Denies Report Alleging ‘Supercar’ Abuse of Service Provider Wolverhampton Wanderers forward Hwang Hee-chan has denied allegations that he mistreated a protocol-service company while using luxury cars.  Dispatch reported on Feb. 12 that Hwang’s side received 22 protocol vehicles — including Lamborghinis and Ferraris — from a service provider identified as “Bahana (UCK)” and engaged in unreasonable behavior. The report said Hwang left the scene after abandoning a Ferrari Purosangue worth about 800 million won on Yeongdong Bridge in May last year, and that he did not take responsibility for more than 10 accidents.  The report also said Hwang’s sister, Hwang Hee Jung, received vehicles and services from Bahana, and that the company provided the services because it had been promised it would be given management duties.  Bahana said, “If the obligations of the ‘A party’ stated in the contract had been properly fulfilled, there would not be the current legal dispute.” As an example, it cited a promotional obligation in Article 5, Clause 4, saying Hwang did not tag Bahana on the relevant social media channels and only posted a “thumbs-up” at the company’s request. Hwang’s agency, BtheHC, said, “All of the reported content is false.” It added, “We provided the outlet with ample materials to rebut the claims, but it proceeded with one-sided reporting.”  The agency said it never entrusted Bahana with overall management. It also said the company created social media accounts and promoted itself using photos of Hwang using the vehicles without authorization, including cases in which his likeness was used without consent.  BtheHC said Bahana was the first to break trust and said it would take legal action over alleged fraud and deception, defamation through false statements, and violations of portrait and name rights.  2026-02-12 14:40:10