Seoul metropolitan dance theater's 'One Dance' wins Bessie award in New York SEOUL, January 29 (AJP) - The Seoul Metropolitan Dance Theater's "One Dance" won the Outstanding Choreographer/Creator award at the New York Dance & Performance Awards, known as the Bessie Awards, in New York on Jan. 20 (local time). This marks the first time a Korean public arts organization has received a Bessie Award. The Bessie Awards selection committee described "One Dance" as "a visually captivating contemporary reinterpretation of Korean traditional ritual dance" that "demonstrates a perfect harmony of stillness and movement while reaching its climax with explosive and dynamic choreography." "One Dance" is a contemporary reinterpretation of ritual dance from "Jongmyo Jeryeak," a National Intangible Cultural Heritage and UNESCO Masterpiece of the Oral and Intangible Heritage of Humanity. The work premiered in 2022 and drew attention when it sold out all performances at New York's Lincoln Center in 2023. 2026-01-29 17:23:28

Bling One CN holds photo shoot in World K-pop center SEOUL, January 29 (AJP) - Bling One CN held a photo shoot and interview at the World K-pop Center in Jung-gu, Seoul, on the 28th. Bling One CN is a five-member group consisting of leader Cassie, Katrina, Ranee, Allie, and Chloe, selected from China as part of the Click the Star project spanning 32 countries worldwide. The group continues its idol activities in Korea and China with a focus on K-pop. 2026-01-29 17:23:07

LG Chem posts operating loss in Q4 but logs 35% profit jump for 2025 SEOUL, January 29 (AJP) - South Korea's largest chemical company LG Chem swung to an operating loss in the fourth quarter as its petrochemical and battery materials divisions struggled, though full-year operating profit surged 35 percent on improved performance at its energy solutions subsidiary. The company reported a consolidated operating loss of 413.3 billion won ($289.7 million) for the October to December period, reversing from a 680 billion won profit in the prior quarter. Revenue came in at 11.2 trillion won, largely flat from the third quarter but down 8.8 percent from a year earlier. For full-year 2025, operating profit jumped 35 percent to 1.18 trillion won on revenue of 45.93 trillion won, down 5.7 percent on year. The improvement was driven primarily by LG Energy Solution, which posted operating profit of 1.35 trillion won, more than double the 575 billion won recorded in 2024. "We maintained positive cash flow by advancing our business portfolio, exercising strict capital expenditure discipline, and monetizing assets amid challenging market conditions," said Cha Dong-seok, LG's chief financial officer. The petrochemicals division recorded an operating loss of 239 billion won in the fourth quarter, weighed down by narrowing spreads from regional capacity additions and one-time costs at overseas operations. The advanced materials unit also turned to a 50 billion won loss as battery materials customers adjusted year-end inventories and electronics demand entered a seasonal lull. LG Chem set its 2026 revenue target at 23 trillion won excluding LG Energy Solution, down from 23.8 trillion won in 2025, reflecting continued headwinds in the petrochemical sector from China-driven oversupply. The company plans to reduce losses through cost cuts and expansion into high-value-added products. Shares of LG Chem closed 2.97 percent lower at 343,500 won on Thursday. 2026-01-29 17:22:34

Asian shares struggle for direction amid Fed signals, Middle East tensions SEOUL, January 29 (AJP) - Asian markets closed mixed on Thursday as investors struggled to find direction amid conflicting signals from corporate earnings, central bank policy and rising geopolitical tensions, a combination that kept volatility elevated across the region. Currency markets reflected the uncertainty. The South Korean won was quoted at 1,428.9 per dollar at 4:40 p.m., down 4.6 won from the previous close. While the won pared earlier losses as the U.S. dollar weakened in late trading, it remained volatile amid competing global factors. Market sentiment was initially buoyed by comments from U.S. Treasury Secretary Scott Bessent, who dismissed the possibility of intentional intervention to weaken the Japanese yen, alongside the U.S. Federal Reserve’s decision to hold rates at 3.5–3.75 percent with a hawkish tone. The dollar later reversed course after media reports said President Donald Trump was weighing military options against Iran. The U.S. Dollar Index fell 0.16 percent to 96.20 by late afternoon. The benchmark 10-year U.S. Treasury yield rose 3.9 basis points to 3.557 percent, reflecting investor unease over the Fed’s stance and heightened geopolitical risks. South Korean stocks recovered from early losses, with the benchmark KOSPI closing up 0.98 percent at 5,221.25, supported by strong earnings and corporate investment announcements that offset macroeconomic concerns. Samsung Electronics fell 1.05 percent to 160,700 won despite reporting fourth-quarter operating profit of 20.1 trillion won ($14 billion). Investors were cautious after the company warned that rising memory prices could weigh on demand for smartphones and personal computers, while losses in its home appliances business also dampened sentiment. SK hynix climbed 2.38 percent to 861,000 won after overtaking Samsung in semiconductor profitability for the first time. The chipmaker posted quarterly operating profit of 19.2 trillion won and announced a shareholder return plan that includes the cancellation of 15.3 million treasury shares. Shares in SK Square, a major shareholder, jumped 5.36 percent. Hyundai Motor surged 7.21 percent to 528,000 won, extending gains that have lifted the stock more than 150 percent from late January last year. Investors welcomed the automaker’s commitment to complete real-world testing of its humanoid robot “Atlas” and smart-car prototypes by late 2026, despite a nearly 20 percent year-on-year decline in operating profit. LG Energy Solution fell 3.36 percent to 416,500 won after confirming a fourth-quarter operating loss of 122 billion won. Weakness in its energy storage system business and recent contract cancellations weighed on the stock, pushing it out of the top three by market capitalization. The tech-heavy KOSDAQ outperformed, rising 2.73 percent to 1,164.41, driven by technology shares and government-backed “value-up” initiatives. Rainbow Robotics jumped 9.35 percent following Samsung’s pledge to accelerate robotics investments, while EcoPro BM gained 7.42 percent. Biotech firm Alteogen slipped 1.15 percent ahead of its planned move to the KOSPI. In Japan, the Nikkei 225 ended flat at 53,375.60 after a volatile session. Early losses linked to yen strength were offset by gains in automakers, though safe-haven demand for the yen amid Middle East tensions capped the index’s advance. The yen was quoted at 153.30 per dollar late in the day. Toyota Motor rose 3.02 percent after reporting record sales for 2025, while Honda gained 2.17 percent on strong guidance led by hybrid vehicles. Chip tester Advantest climbed 5.17 percent after posting an earnings beat. Taiwan’s TAIEX fell 0.82 percent to 32,536.27 on profit-taking and concerns over the impact of a weaker dollar on foreign exchange reserves. TSMC slipped 0.82 percent, Foxconn fell 0.67 percent, and MediaTek ended flat after erasing early gains. Mainland Chinese markets were steadier, with the Shanghai Composite edging up 0.16 percent to 4,157.98. In Hong Kong, the Hang Seng Index reversed early losses to trade 0.36 percent higher at 27,928 in late afternoon dealings, supported by gains in gold-related shares. 2026-01-29 17:08:02

Korea's homegrown satellite to fly on NASA's Artemis 2 to study space radiation SEOUL, January 29 (AJP) - South Korea’s homegrown CubeSat, K-RadCube, will fly aboard NASA’s Artemis 2 crewed moon mission to observe the space radiation environment, marking the first time a South Korean satellite will directly measure the high-energy radiation belts encountered by astronauts. The Korea AeroSpace Administration (KASA) said on Thursday that the satellite will study Earth’s Van Allen radiation belts at multiple altitudes, generating data that could support the safety of future crewed deep-space missions. K-RadCube will be launched mounted on the Orion spacecraft’s stage adapter during Artemis 2, a crewed test flight that will send four astronauts on a lunar flyby and return them to Earth — the first such mission in about 50 years since the Apollo program. The CubeSat is scheduled to be deployed about five hours after launch, when it will begin measuring radiation levels in high-Earth orbit. “Securing direct measurements of space radiation is critical, as radiation exposure remains one of the biggest risks for human space exploration,” Kang Kyung-in, head of space science and exploration at KASA, said at a briefing in Seoul. He noted that while radiation can already cause errors in highly integrated semiconductors on Earth, radiation levels in space are far more intense. Data from K-RadCube could be used in the design of future crewed spacecraft and in mission safety planning, he said. The project involves several South Korean companies, including Nara Space Technology, Samsung Electronics and SK hynix. Nara Space Technology said the CubeSat had to meet stringent NASA safety requirements not typically applied to small satellites, including battery standards, thermal runaway testing and hazard-control destruction tests. KASA Administrator Yoon Young-bin said the mission would serve as an important international validation of South Korea’s ability to develop and operate deep-space CubeSats, as well as safety and reliability technologies relevant to human spaceflight. He added that the project could help expand South Korea’s technical contributions and role in future lunar and deep-space exploration efforts. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-29 16:40:43

Hyundai Motor vows aggressive capex, share reward program; stock up 7% SEOUL, January 29 (AJP) - Hyundai Motor Company said Thursday it will spend 17.8 trillion won ($12.47 billion) throughout 2026—more than it earned last year—on new-growth areas including robotics, autonomous driving and hydrogen technology, front-loading nearly a quarter of its five-year investment plan into a single year. The South Korean automaker announced a 77.3 trillion won investment plan for 2026–2030 at its CEO Investor Day in New York last September. The 2026 outlay alone accounts for about 23 percent of the total, signaling an aggressive push to gain ground in emerging mobility sectors. "We plan to concentrate investment in 2026 and 2027," said Lee Seung-jo, Hyundai's chief financial officer, during a conference call following the release of its fourth-quarter and full-year 2025 earnings. "Spending will peak during this period, though the overall investment envelope remains unchanged." The 2026 investment will comprise 9 trillion won in capital expenditure, 7.4 trillion won in research and development, and 1.4 trillion won in strategic investments—up 20.4 percent from 14.5 trillion won spent in 2025. Hyundai has been pivoting toward future-mobility businesses as it grapples with slowing electric-vehicle demand and intensifying global competition. The company is leaning on hybrid vehicles as a bridge, with hybrids accounting for 16.3 percent of its global sales mix. Hybrid and SUV models powered Hyundai's first-ever breach of the 1-million-vehicle mark in North America last year. To bolster its artificial intelligence capabilities, Hyundai struck a deal with Nvidia to deploy 50,000 graphics processing units, with installations set to begin in the second half of this year. Lee said the company is "currently finalizing plans" for the GPUs, adding that "once specifics are set, we will communicate them to the market." On robotics, Lee said proof-of-concept testing of Boston Dynamics' Atlas humanoid robot at Hyundai's Metaplant facilities in Georgia would conclude in the second half of this year. The company unveiled a production-ready version of Atlas at CES 2026 earlier this month and plans to deploy robot fleets at the Georgia plant by 2028 for tasks such as parts sequencing and assembly. Hyundai also said its software-defined vehicle could roll out as early as the second half of 2026. The platform features a high-performance vehicle computer architecture designed to enable faster autonomous-driving functions and over-the-air software updates. On shareholder returns, Hyundai said it will begin buying back 400.7 billion won worth of its own shares starting Friday over the next three months, with plans to cancel them within the year—a shareholder-friendly move after the stock nearly tripled from its April low. The company reiterated its commitment to a total shareholder return of more than 35 percent through 2027, including a minimum dividend of 10,000 won per share and a quarterly dividend of 2,500 won. Hyundai projected wholesale sales of 4.158 million vehicles in 2026, up 0.5 percent from the previous year, with revenue growth of 1 to 2 percent. It guided for an operating profit margin of 6.3 to 7.3 percent, citing an improved vehicle mix and cost efficiencies as offsets to persistent macroeconomic uncertainty. "We will continue to pursue future investments," Lee said. "We believe these efforts are now being reflected in our share price." Shares of Hyundai Motor closed 7.21 percent higher at 528,000 won on Thursday, as investors welcomed the company's front-loaded spending on AI-driven growth initiatives. *AJP Kim Yeon-jae contributed to this story. 2026-01-29 16:17:01

South Korea weighs ownership caps in crypto exchanges under new law SEOUL, January 29 (AJP) - South Korea’s Financial Services Commission (FSC) is again pushing to limit major shareholders’ stakes in cryptocurrency exchanges, arguing the platforms function as public infrastructure as they move into a fully regulated licensing system. The proposal has drawn attention over whether it will be reflected in the Digital Asset Basic Act being prepared by the ruling Democratic Party, as industry groups warn that forcing large shareholders to sell would infringe on property rights. FSC Chairman Lee Eok-won said at a news briefing on Tuesday that regulators are considering ownership caps in connection with the Digital Asset Basic Act, citing the “public-infrastructure nature" of crypto exchanges and their entry into the regulated system through an approval-based licensing regime. “How we design the new framework is important,” Lee said. Lee added that concentrated control by a specific shareholder could create conflicts of interest, saying regulators and the ruling party share a sense of the need for reform and are in close discussions on how to proceed. The government and the ruling party plan to use the Digital Asset Basic Act to broadly overhaul digital-asset regulation, including rules for stablecoins, the classification of digital-asset businesses, and licensing and approval requirements. Crypto exchanges currently operate under a partial regulatory framework based on a three-year reporting system. Under a new approval-based regime, exchanges would gain permanent operating status. Regulators say they want to establish a more dispersed ownership structure as exchanges are formally brought into the regulated system, in order to strengthen public accountability and responsible management. With regulators reviving the ownership-cap proposal, attention is focused on whether they can reach consensus with the Democratic Party. Lawmakers across party lines have previously raised concerns that government intervention in the governance of private companies could be excessive. Lee Jung-moon, a lawmaker who leads the Democratic Party’s digital-asset task force, said on Tuesday that while there is broad agreement on the principle of limiting major shareholders’ stakes, there are differing views on whether such limits should be written directly into legislation. He said he would gather opinions within the party. If the plan is legislated, all five major won-denominated cryptocurrency exchanges would be required to reduce major shareholders’ stakes. The FSC has proposed capping such holdings at 15 to 20 percent. The Digital Asset eXchange Alliance (DAXA), an industry body representing major exchanges, has strongly opposed the proposal. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-29 15:26:49

Samsung hosts gala in Washington amid tariff threat from Trump SEOUL, January 29 (AJP) -Samsung Electronics Co. hosted a gala event on Jan. 28 at the Arts and Industries Building in Washington, D.C., in partnership with the Smithsonian’s National Museum of Asian Art, to mark the successful run of Korean Treasures: Collected, Cherished, Shared, the first U.S. exhibition of masterpieces from the late Samsung Chairman Lee Kun-hee’s art collection. Main hosts were the Lee founding family, including Hong Ra-hee, Director Emerita of the Leeum Museum of Art, Lee Boo-jin, President & CEO of Hotel Shilla, Lee Seo-hyun, President of Samsung C&T, and Kim Jae Youl, President of Samsung Global Research. Among the 250 guests were Secretary of Commerce Howard Lutnick, Senator Tim Scott, Senator Ted Cruz, Senator Andy Kim, Governor Wes Moore and Ambassador Kang Kyung-wha. Hyundai Motor Group Chairman Euisun Chung also in Washington attended the gala. The event took place amid heightened trade tensions after U.S. President Donald Trump warned of sweeping tariff hikes of up to 25 percent on South Korean exports, citing delays in Seoul’s legislative procedures supporting a bilateral trade agreement reached last year. The timing has drawn attention as Samsung Electronics' Lee was in Washington during the same week, raising questions over whether the tycoon could serve as an informal channel of communication at a sensitive moment in U.S.–Korea trade relations. The tariff issue was underscored Wednesday by remarks from South Korea’s Industry Minister Kim Jung-kwan, who said he would meet Lutnick the following day for talks on Trump’s recent threat to raise so-called “reciprocal” tariffs and additional levies on Korean automobiles, lumber and pharmaceuticals to 25 percent from 15 percent. Speaking upon arrival near Washington, Kim said the Trump administration appeared dissatisfied with the pace of Korea’s domestic legislative process. “As far as I understand, (the Trump administration) appears to be dissatisfied with how the domestic legislative process has been progressing,” he said, adding that Lutnick shared that view. Kim said he planned to “provide sufficient explanation to ensure that there will be no misunderstandings” and to reaffirm Seoul’s commitment to cooperation and investment in the U.S. Under the bilateral agreement, Korea pledged to invest $350 billion in return for Washington lowering reciprocal tariffs to 15 percent. An investment-support bill submitted by the ruling Democratic Party in November has yet to pass the National Assembly, a delay Trump has publicly criticized. Meanwhile, the Washington exhibit featured more than 200 works selected from a personal collection of over 23,000 pieces amassed by the late chairman and was organized jointly by the National Museum of Asian Art, the National Museum of Korea, and the National Museum of Modern and Contemporary Art, Korea. At the gala, Lee thanked the organizing institutions and highlighted Washington as the first stop of the exhibition’s global tour. He also paid tribute to U.S. veterans of the Korean War, crediting their sacrifice with enabling South Korea’s postwar development and the preservation of its cultural heritage. “Memory and history are important to Koreans. That is part of why this exhibit means so much to me,” Lee said. “Despite the hardships of colonial rule and the Korean War, my father and grandfather believed it was their duty to safeguard the future of our culture. It was a tremendous honor to share this collection with you. I believe it’s our small contribution to bringing the American and Korean people closer together.” 2026-01-29 15:26:48

OPINION: Bringing markets and capital together -- The Uzbekistan–Türkiye Economic Union SEOUL, January 29 (AJP) - Over the past eight years, relations between Uzbekistan and Türkiye have undergone a profound qualitative transformation, evolving from traditionally friendly ties into a full-fledged strategic partnership with a strong economic, investment, and industrial dimension. While the period prior to 2017 was largely characterized by inertia, the launch of large-scale reforms in Uzbekistan marked a decisive shift in bilateral relations toward practical cooperation focused on trade, investment, and joint manufacturing. A key role in this transformation has been played by the political will and personal engagement of the leaders of both countries - President of the Republic of Uzbekistan Shavkat Mirziyoyev and President of the Republic of Türkiye Recep Tayyip Erdoğan. Regular high-level dialogue has provided Uzbek-Turkish relations with stability, strategic coherence, and a long-term economic horizon. Political Foundations as a Driver of Economic Convergence Diplomatic relations between the two countries were established in 1992; however, a turning point came in October 2017 with the signing of the Joint Declaration on Strategic Partnership in Ankara. This step laid a solid institutional foundation for the rapid expansion of trade, economic, and investment cooperation. In 2018, the High-Level Strategic Cooperation Council was established in Tashkent under the co-chairmanship of the two presidents. Its meetings in 2020, 2022, and 2024 became key platforms for aligning priorities in trade, investment, industry, transport, and interregional cooperation. Over time, political dialogue has evolved from declarative engagement into a practical instrument supporting concrete economic initiatives and project-based decisions. Trade: Scale, Structure and Institutional Incentives Türkiye is firmly among Uzbekistan’s largest trading partners. In 2020, bilateral trade turnover amounted to USD 2.1 billion, reaching USD 3.02 billion by the end of 2025. Uzbekistan’s exports to Türkiye are predominantly industrial in nature, comprising non-ferrous metals and metal products, textiles, services, plastics, and food products. Imports from Türkiye consist mainly of mechanical and electrical equipment, chemical products, textiles, pharmaceuticals, and metal structures, reflecting Türkiye’s role as a key source of industrial technologies and equipment. A significant qualitative step forward was the signing of the Preferential Trade Agreement in 2022, which entered into force in 2023. In 2025, the parties began expanding the list of goods covered by preferential treatment, creating additional incentives for trade diversification and deeper industrial cooperation. Investment Cooperation: From Presence to Systemic Engagement Investment cooperation is one of the most dynamically developing areas of bilateral relations. In 2024, the volume of Turkish investments utilized in Uzbekistan reached USD 2.2 billion, while in January-November 2025 it increased to USD 3.2 billion. A total of 2,137 enterprises with Turkish capital operate in Uzbekistan, including 496 joint ventures and 1,641 wholly Turkish-owned companies. These enterprises are active in textiles and furniture manufacturing, construction, trade, transport, logistics, and services. Importantly, a substantial share of them is export-oriented, strengthening Uzbekistan’s integration into regional and global value chains. Industrial Cooperation: Transition to Joint Manufacturing In recent years, Uzbek–Turkish cooperation has increasingly shifted from traditional trade toward industrial partnership. Turkish companies are actively involved in establishing production facilities across Uzbekistan’s regions, introducing modern technologies, management standards, and export-oriented business models. Regular meetings of the Intergovernmental Commission on Trade and Economic Cooperation, accompanied by business forums, result in detailed roadmaps comprising dozens of measures covering industry, energy, logistics, and regional projects. This approach forms a solid foundation for sustainable industrial partnership. Interregional Cooperation: Localized Economic Engagement Active interregional interaction has become an essential element of the new partnership model. In 2024, targeted visits by delegations from the Fergana, Khorezm, Namangan, Navoi, Samarkand, and Jizzakh regions, as well as the city of Tashkent, were held to various regions of Türkiye. This format enables a shift from framework agreements to concrete investment projects, creates direct B2B and B2G communication channels, and contributes to a more decentralized and resilient architecture of cooperation. Transport and Logistics as Pillars of Trade and Investment The expansion of trade and industrial cooperation naturally increases the importance of transport and logistics interaction. Türkiye is viewed by Uzbekistan as a key logistical gateway to European and Mediterranean markets, while Uzbekistan is becoming an important hub for Türkiye’s access to Central Asia. The development of rail and road transport, along with intensive air connectivity - up to 97 regular flights per week across eight routes - enhances business mobility, supports investment activity, and strengthens economic integration between the two countries. Prospective Areas of Cooperation: Converging Interests The established economic core of Uzbek–Turkish relations provides a basis for a new phase of cooperation, shifting from quantitative growth to deeper structural and technological integration. Localization and joint development of industrial production remain key convergence points. Uzbekistan offers industrial zones, resources, and a growing domestic market, while Türkiye contributes technology, design, managerial expertise, and access to external markets. The textile and light industry is evolving toward the production of finished branded goods and contract manufacturing for international retail chains. Mechanical engineering and electrical equipment sectors are creating prerequisites for the establishment of assembly and production facilities. The agro-industrial complex offers opportunities for deep processing and joint exports of food products. A separate strategic direction is the joint entry into third-country markets, where the combination of Uzbekistan’s production potential and Türkiye’s trade and logistics infrastructure creates substantial competitive advantages. Overall, over the past eight years Uzbekistan and Türkiye have built a resilient model of strategic partnership based on trade, investment, industrial cooperation, interregional engagement, and transport connectivity. Trade turnover exceeding USD 3 billion, multi-billion-dollar investments, and thousands of joint enterprises testify to the maturity and long-term nature of bilateral relations. 2026-01-29 14:37:39

Hyundai Motor bears nearly 40% hit in Q4 income and 20% for 2025 on US tariffs SEOUL, January 29 (AJP) -South Korea's largest automaker Hyundai Motor suffered nearly a 40 percent drop in operating profit in the quarter ended December and about 20 percent for full-year 2025 due to higher tariffs under Donald Trump presidency in its largest export market despite record sales. According to its earnings release on Thursday, consolidated operating profit reached 1.7 trillion won ($1.2 billion), down 33.2 percent from the previous quarter and 40 percent from a year earlier. Revenue came to 46.84 trillion won, up 0.3 percent on quarter and 0.5 percent on year. For full-year 2025, operating profit plunged 19.5 percent on year to 11.47 trillion won, while sales climbed 6.3 percent to a record 186.25 trillion won, placing the operating margin at 6.2 percent. Hyundai’s results followed a similar pattern to those of its sister company Kia, which reported roughly a 30 percent drop in operating profit for both the fourth quarter and the full year. The declines came as Korean automakers absorbed higher 25 percent U.S. tariffs, compared with 15 percent imposed on European and Japanese competitors, until a trade deal lowered the rate to the same level retroactively in November. Hyundai Motor estimated tariff-related losses of around 4.1 trillion won from U.S. measures alone, with combined losses for Hyundai and Kia totaling about 7.2 trillion won. Shares of Hyundai Motor rose 4.7 percent to 515,500 won as of 2:40 p.m., as investors appeared more focused on the automaker’s longer-term robotics roadmap than its near-term earnings performance. Global sales totaled 4.14 million vehicles for the year. Hyundai said it plans to bolster profitability in 2026 through cost efficiencies, an expanded lineup of high-margin trims, and increased local production aimed at reducing tariff exposure. 2026-01-29 14:11:56