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

BYD Signs Official Partnership With Manchester City FC BYD said Wednesday it has signed a deal to become Manchester City FC’s official automotive partner. Under the agreement, BYD Group will supply BYD and DENZA vehicles to the club. It will also provide vehicle-charging infrastructure and energy-storage battery solutions at the City Football Academy, the training complex used by the men’s and women’s first teams and academy sides. Starting Wednesday, the BYD logo will appear on the sleeve of the men’s first-team training kit. The women’s first team will add the logo starting next season. BYD branding will also be displayed throughout Etihad Stadium, including on headrests in the dugout seats. For Premier League and domestic cup home matches, BYD vehicles will be used as the official cars leading the men’s first-team bus to the stadium. BYD said the partnership is aimed at building its presence in international soccer to raise awareness of its brand, vehicles and other technology products. The company previously served as an official sponsor of UEFA EURO 2024 and the UEFA European Under-21 Championship 2025. Stella Li, BYD vice chair, said Manchester City “represents excellence, innovation and the challenge of pushing beyond limits,” adding that the collaboration goes beyond soccer or mobility and is meant to inspire people worldwide through technology that supports a sustainable future. Ferran Soriano, CEO of City Football Group, called BYD a global leader in its field and said the company’s focus on technology and innovation aligns with Manchester City’s values. He said he is proud to work with BYD toward a sustainable future. Manchester City, founded in 1894, has won 10 English league titles, seven FA Cups, one UEFA Champions League title and the FIFA Club World Cup, among other trophies. The club has played at the 53,000-seat Etihad Stadium since 2003 and has millions of fans worldwide. BYD, headquartered in Shenzhen, China, said it sold 4.6 million vehicles globally last year, including more than 1 million outside China. The company employs 120,000 research-and-development staff and files an average of 45 new patents per working day, it said. * This article has been translated by AI. 2026-02-12 14:33:58

NPS posts early leasing success in first overseas office development SEOUL, February 12 (AJP) - South Korea’s National Pension Service (NPS) said on Thursday it has secured full occupancy ahead of completion in its first overseas office development investment. The NPS said two office towers at Toronto’s CIBC Square complex reached 100 percent leasing about four months before completion, with major tenants including Canadian lender CIBC and technology giant Microsoft. The pension fund invested in the project in two rounds in 2016 and 2018. Total project costs amount to about 2.5 trillion won ($1.7 billion), with a combined gross floor area of roughly 285,000 square meters. CIBC Square Tower 1 was completed in 2021, and the NPS has since recovered most of its principal investment through refinancing. Tower 2 is scheduled for completion in June 2026 but has already achieved full occupancy. Following the Toronto investment, the NPS went on to complete several high-profile overseas office developments, including One Vanderbilt and One Madison Avenue in Manhattan. Domestically, it also completed Magok One Grove, described as South Korea’s largest office development project, last year. Seo Won-ju, head of investment management at the NPS, said the outcome reflected years of market analysis and early investment decisions in Canada, then a relatively new market for the fund. NPS Chairman Kim Seong-ju described the early leasing success as “a meaningful investment case” for securing stable long-term returns. “We will continue to pursue timely investments in high-quality overseas assets to enhance fund performance,” Kim said in a press release. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-12 14:21:22

KTV to Recruit 10 Young Online Creators for Social Media Content KTV National Broadcasting, known as KTV, said Wednesday it is accepting applications for its “KTV Online Young Creator” program.  KTV said the open recruitment aims to strengthen policy communication with direct youth participation and to attract more young subscribers to its social media channels, which it said have largely drawn older audiences.  Applicants must be ages 19 to 39. Selected creators will produce online content for KTV’s official social media channels, including YouTube, Instagram and TikTok, from March through November, about nine months.    KTV said each selected creator will receive production support worth a total of 10 million won, with up to 1.2 million won per piece based on one video a month. Creators will also have opportunities to collaborate with KTV and gain hands-on experience from planning through production, and will receive a letter of appointment and a certificate of participation.    Applications will be accepted from Feb. 13 through Feb. 27. Applicants should download the required forms, including a personal statement and activity plan, from the KTV website and submit them by email. KTV will select about 10 creators after a document review and a practical interview.    KTV said anyone interested in online content careers such as announcer, producer, reporter or videographer may apply, as can young people interested in promoting government policy and public communication. More information and application details are available on the KTV website and its official social media channels.  * This article has been translated by AI. 2026-02-12 14:15:58

Korean won recovery capped by capital outflows despite weaker dollar SEOUL, Feb 12 (AJP) -Despite a broad retreat in the U.S. dollar, the South Korean won has failed to stage a meaningful recovery, frustrating authorities attempting to break what officials increasingly describe as a cycle of “structural undervaluation.” According to data released Thursday by the Bank of Korea, the won-dollar exchange rate stood at 1,459.1 as of Feb. 10, marking a 1.4 percent depreciation from December’s average of 1,439. The decline came even as authorities deployed more than $4.7 billion in foreign exchange reserves over the past two months to stabilize the currency. Market data point to clear signs of intervention. Average daily spot turnover jumped by $3.72 billion — from $13.95 billion in December to $17.67 billion in January — a surge widely attributed to official efforts to defend the won. The won’s weakness stands in sharp contrast to global currency trends. Over the same period, the U.S. Dollar Index (DXY) fell 1.5 percent from 98.3 to 96.8, lifting most major currencies. The Japanese yen strengthened from 156.7 in December to 154.3 as of Feb. 10. The euro and British pound gained 1.5 percent and 1.3 percent, respectively. Among major advanced economies, the won was the only currency to lose grounds. The divergence is even starker against emerging markets. The J.P. Morgan Emerging Market Currency Index rose 2.4 percent, from 46.6 to 47.7. The Brazilian real advanced 5.7 percent, the Mexican peso climbed 4.7 percent and the Russian ruble rose 2.2 percent. Even the Chinese yuan — the only emerging-market currency included in the IMF’s Special Drawing Rights basket — appreciated 1.1 percent despite Beijing’s easing measures. India, the only BRICS member maintaining a weakening trend due to domestic policy easing, saw a modest 0.5 percent depreciation — far smaller than Korea’s decline. Yet underlying indicators suggest no structural shortage of dollars. The three-month swap rate — a key gauge of dollar funding conditions — rose 16 basis points from minus 1.48 percent in December to minus 1.32 percent as of Feb. 10, reflecting a narrowing Korea-U.S. interest rate gap. Currency swap rates climbed from 2.6 percent to 2.84 percent during the same period. The data indicate that the won’s weakness stems more from external sentiment and capital flows than from physical dollar scarcity. External confidence metrics remain stable. The spread on short-term external borrowing narrowed from 13 basis points in December to 11 basis points in January. Korea’s five-year credit default swap premium edged down from 22 basis points to 21 basis points. The Bank of Korea pointed to outbound retail flows as a key driver. Overseas investments by individuals more than tripled from $1.5 billion in December to $4.8 billion in January, the BOK noted, mounting significant upward pressure on the exchange rate. The pressure was partially offset by the National Pension Service, which reduced its overseas investment target for this year from 38.9 percent to 37.2 percent. Despite the continued undervaluation, the Korean won showed signs of recovery, gaining 10 to close at 1,446 per dollar on Feb. 11. As of 2:00 p.m. on Feb. 12, the currency climbed an additional 6 to reach 1,440. This rebound comes as foreign investors scooped up 1.6 trillion won in the KOSPI market, driving capital inflows, while authorities are presumed to be continuing their market interventions. 2026-02-12 14:14:20

Winter Olympics '26: Korean snowboarders advance halfpipe finals as Asian nations add medals SEOUL, February 12 (AJP) - Korea made Olympic history in snowboard halfpipe as Choi Ga-on and Lee Chae-un both advanced to the finals in the qualification rounds at the XXV Olympic Winter Games Milano Cortina 2026. Competing at the Livigno Snow Park in Italy, Choi placed sixth overall in the women’s qualification among 24 riders, earning 82.25 points in her opening run to rank third at one stage. The 17-year-old executed a 4.2-meter aerial during her routine. The event was topped by Chloe Kim of the United States with 90.25 points, followed by Japan’s Sara Shimizu with 87.50 and Maddie Mastro of the United States with 86.00. The top 12 riders progressed to the final. In the men’s qualification, Lee Chae-un secured ninth place among 25 competitors with 82.00 points in his first run, comfortably inside the top 12 cutoff. His routine featured five successful jumps, including a backside double cork 1080. Australia’s Scotty James led the field with 90.25 points, while Japan’s Totsuka Yuto posted 91.25 and Yamada Ryusei recorded 90.25. It marks the first time South Korean snowboarders have reached an Olympic halfpipe final in both the men’s and women’s events. In speed skating, China’s Ning Zhongyan claimed bronze in the men’s 1,000 meters with a time of 1:07.34. Jordan Stolz of the United States won gold with 1:06.28, followed by Jenning de Boo of the Netherlands in 1:06.78. During the race, China’s Lian Ziwen was disqualified for obstructive driving after a lane-change collision. Under speed skating regulations, priority is given to the skater moving from the outer lane to the inner lane, and officials ruled that Lian hindered a rival. Korea’s speed skater Koo Kyung-min finished 10th in the same event with a time of 1:08.53. In biathlon, Ekaterina Avvakumova placed 63rd in the women’s 15km individual with a time of 47:18.2. In freestyle skiing, Yoon Shin-yi concluded 24th in women’s moguls qualification round two with 64.46 points after scoring 59.4 in the first round. Japan added to its medal tally in ski jumping, earning bronze in the mixed team event at the Predazzo Ski Jumping Stadium. The quartet of Maruyama, Kobayashi, Takanashi and Nikaido combined for 1,034.0 points. Slovenia secured gold with 1,069.2, while Norway took silver with 1,038.3. Norway remained atop the overall standings as of 11:00 a.m. KST on February 11. Among Asian delegations, Japan ranked ninth with two gold, two silver and four bronze medals. China stood 14th with one silver and two bronze, while South Korea followed in 15th place with one silver and one bronze. 2026-02-12 14:06:42

CJ CheilJedang apologizes over alleged sugar price-fixing, quits industry body SEOUL, February 12 (AJP) - South Korea's largest sugar maker CJ CheilJedang has issued a formal apology, saying it will immediately quit the Korea Sugar Association following the Fair Trade Commission’s imposition of a combined 408.3 billion won in fines on three sugar makers for alleged price-fixing. In a statement on Thursday, the company said it "deeply apologizes for causing concern to customers and consumers” and pledged swift corrective measures, acknowledging the seriousness of the matter. CJ CheilJedang said it would exit the industry association, which authorities identified as a key channel for collusion, and prohibit contacts between its employees and rival sugar producers. The company also plans to introduce a “one-strike” rule under which violations lead to immediate dismissal, aiming to eliminate opportunities for coordination. The firm added it would overhaul its pricing system by disclosing cost factors such as exchange rates and raw sugar prices and introducing a mechanism that automatically reflects those inputs in product prices. The move is intended to prevent pricing decisions based on competitors’ actions or individual consultations. CJ CheilJedang also said it would strengthen internal compliance controls by adding external members to its compliance management committee to improve independence and by expanding a voluntary reporting system designed to prevent improper contacts with competitors. "CJ CheilJedang will place public trust first and work to establish a transparent and fair competitive environment," the company said in the statement. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-12 13:55:30

Court orders HYBE to pay Min Hee Jin about 25.5 billion won in Ador put-option case A South Korean court has ordered HYBE to pay about 25.5 billion won to Min Hee Jin, former CEO of Ador and now CEO of OK Records, in a dispute over a put option, or stock buyback right. The Seoul Central District Court’s Civil Division 31, led by Presiding Judge Nam In Soo, ruled Thursday that HYBE must pay Min about 25.5 billion won in a stock purchase price lawsuit she filed. The court also dismissed HYBE’s separate lawsuit seeking confirmation that a shareholder agreement had been terminated. The panel heard the two cases together because whether the shareholder agreement was terminated was a prerequisite for the put-option claim. The court said it could accept that Min explored ways to make Ador independent from HYBE, but found that fact alone did not amount to a material breach of the shareholder agreement. Citing KakaoTalk messages between Min and associates, along with her performance as CEO, the court said it was difficult to conclude she hindered Ador’s growth or caused losses. The court also rejected HYBE’s claim that Min planned to terminate NewJeans’ exclusive contracts, take the group with her and pursue an initial public offering for Ador. It said Min appeared to have met outside investors to explore independence plans, but those options were premised on HYBE’s consent and would have no effect without it. The panel also noted that Min continued to carry out her duties as CEO during the dispute, including releasing albums in South Korea and Japan. It said Min’s allegations that ILLIT copied NewJeans and claims of album “push-out” practices were also difficult to treat as grounds for a serious contract breach. The court said the harm Min would suffer from terminating the agreement was relatively clear and significant, but that it was hard to find a breach serious enough to justify termination. The court therefore ordered HYBE to pay Min about 25.5 billion won. It also ordered HYBE to pay a combined about 3.1 billion won to two of Min’s associates — a former Ador vice president identified by the surname Shin and a former director identified by the surname Kim — who also notified the company they were exercising put options. The dispute began after Min notified HYBE in November 2024 that she was exercising her put option. Under the shareholder agreement, the payout is calculated by multiplying Ador’s average operating profit for the previous two years by 13, then applying an amount equal to 75% of Min’s Ador stake. Based on operating profit for the relevant years and Min’s ownership, the amount due to her was about 25.5 billion won. With Shin and Kim also seeking payment, Min’s side sought a total of about 28.7 billion won.* This article has been translated by AI. 2026-02-12 13:00:00

Kia Reopens Historic Siheung Service Center Site as Flagship Store Kia’s Siheung Service Center, a site tied to the automaker’s early history, has reopened as the Kia Siheung Flagship Store. Kia said Thursday it has officially opened the new store as a one-stop complex where customers can view vehicles, take test drives, buy cars, receive service and experience the brand in one place. The Siheung location is Kia’s sixth flagship store, following sites in Seoul’s Gangseo district, Incheon, Bucheon, Gwangju and Wonju. Built on the former Siheung Service Center property, the new facility spans five floors above ground and two basement levels, with 21,500.98 square meters (about 6,504 pyeong) dedicated to customer experiences. Kia said it will offer expanded future-mobility programs along with differentiated purchase and service experiences. The property once housed the Siheung plant, completed in May 1957 as Kia’s third production facility after Yeongdeungpo and Busan. The plant fully mechanized bicycle manufacturing and localized key pipe materials, and later produced products that helped shape the company, including two-wheeled motorcycles, three-wheeled vehicles and four-wheeled trucks. The Siheung plant was converted into a service center in November 1977 and remained in that role until it was renovated over about two years and reborn as a flagship store, Kia said. Kia said the store will offer content designed to help visitors experience its advanced mobility technology and brand identity. It includes a “3D configurator” that lets customers virtually build a vehicle by combining options. Using a large media wall, visitors can view 3D images of interior and exterior details, as well as door and trunk opening and closing and turn-signal operation. The store also features a “multi-content board” that allows customers to explore vehicle specifications and access content such as the configurator, a new-technology simulator and Kia’s YouTube offerings. A “color collection” area lets visitors check exterior paint colors and interior materials in person. Kia said it currently offers physical interior and exterior material samples for four models — the EV9, K9, K8 and Carnival — and plans to expand to more vehicles. Kia also upgraded its customer consultation areas, increasing openness and offering different types of consultation spaces tailored to each display zone so customers can choose their preferred setting. For new-car buyers, the store includes a vehicle handover area called the “Kia Pickup Lounge,” where customers receive their vehicles after a reveal and quality inspection. Kia said it will also provide content to help customers learn vehicle features and how to use the Kia app. The site includes EV-focused service infrastructure, Kia said, including EV workbenches with enhanced insulation performance, a specialized high-voltage battery workshop and a facility for storing used batteries, aimed at providing safe and systematic EV maintenance services. A Kia official said the Siheung flagship store is a brand space where customers can see Kia’s vision of future mobility, adding that the company plans to further develop and diversify spaces and experiential content focused on forward-looking customer experiences.* This article has been translated by AI. 2026-02-12 11:12:00