Seoul hails Beijing's move to dismantle dubious structure in West Sea SEOUL, January 28 (AJP) - South Korea on Wednesday welcomed China's decision to remove one of a couple of structures installed along the West Sea, calling it "meaningful progress." In a statement, Cheong Wa Dae said the government "has continued talks with Beijing" over the dubious steel structures on the submerged shelf of Ieodo in the West Sea, which overlaps with maritime zones of both South Korea and China. "While actively protecting our maritime rights, we will continue our efforts to maintain peace in the West Sea for shared prosperity," it added. The decision to remove the structure comes shortly after President Lee Jae Myung held a summit with Chinese President Xi Jinping earlier this month. In a possible step toward improving bilateral relations, Beijing appeared to decide to remove one of three such structures, which resembled an oil-drilling rig and raised concerns here that it could be used for military purposes. 2026-01-28 14:35:41

Solar project backed by Hyundai E&C enters full construction in Texas SEOUL, January 28 (AJP) - A large-scale solar power project South Korea's Hyundai Engineering & Construction is participating in has entered full construction in Texas following the completion of financing and preparatory work. The company said on Wednesday it held a groundbreaking ceremony on Jan. 27, local time, in Dallas for the "Lucy" project. The project is being developed by a consortium known as “Team Korea,” which includes Hyundai E&C, Korea Midland Power, the Korea Overseas Infrastructure & Urban Development Corp., EIP Asset Management and the PIS fund. The consortium plans to build and operate a 350-megawatt solar power plant in Concho County, northwest of Austin. Hyundai E&C said it has been involved since the early development stage, participating through an equity investment as well as technical reviews and the supply of solar modules. U.S.-based construction firm Primoris will build the facility, while Korea Midland Power will oversee operations. The project site spans about 11.7 million square meters, the equivalent of more than 1,600 soccer fields. Total project costs are estimated at 750 billion won. Completion is targeted for July 2027, with commercial operations to begin thereafter. After signing an agreement to acquire project rights in 2023, the consortium completed permitting and due diligence in 2024. Financing and preliminary work, including ground surveys and detailed engineering, were finalized last year. Hyundai E&C said the groundbreaking marks the start of full-scale construction, including installation of solar trackers, high-voltage equipment and modules. Once operational, the plant is expected to generate about 926 gigawatt-hours of electricity annually over a 35-year period, enough to supply power to roughly 260,000 four-person households, based on average monthly consumption of 300 kilowatt-hours. The electricity will be sold to global companies, including Starbucks and Workday, through virtual power purchase agreements, Hyundai E&C said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-28 13:55:33

Vehicles registered in Seoul decline for third straight year SEOUL, January 28 (AJP) - The number of registered vehicles in Seoul has been declining, while the number of electric vehicles continues to rise. According to the Seoul Metropolitan Government, the total number of registered vehicles in the capital stood at around 3.16 million last year, down 18,335 from the previous year, making Seoul the only city to see a decline, while other cities and provincial areas saw increases. It was the third consecutive decline, following 3.18 million in 2024 and 3.19 million in 2023. Seoul also had the fewest vehicles per resident in the country, with one vehicle for every 2.94 residents, compared with the national average of one vehicle per 1.93 residents. The figure for the southern port city of Busan was one vehicle per 2.05 residents, Gyeonggi Province (one per 2.04), Daejeon (one per 1.93), and the administrative city of Sejong (one per 1.91). By district, Gangnam had the most vehicles with 251,807, with the five districts in southern Seoul – Gangnam, Songpa, Gangseo, Seocho, and Gangdong – accounting for 32.94 percent of the city's total. But the number of electric cars and other eco-friendly vehicles including hydrogen and hybrid cars rose by 74,429 to 424,568, with the cumulative number of EVs surpassing 100,000. Hybrids made up 75.32 percent of eco-friendly vehicles, followed by electric cars at 23.87 percent and hydrogen cars at 0.81 percent. The number of motorists with imported vehicles continued to rise, accounting for 22.58 percent of all registered vehicles, or 713,108, meaning that a quarter of vehicles on Seoul streets are from foreign brands. Male motorists accounted for 63.19 percent and women 36.81 percent. Registrations by men have been declining since 2023, while women's have increased each year. 2026-01-28 13:54:06

BTS Comeback D-52: Jin's solo run draws renewed spotlight in Mexico SEOUL, January 28 (AJP) - BTS’ Jin has been named “2025 K-POP Artist” in Mexico for the second consecutive year, underscoring his rising solo profile in a country where even the president has publicly appealed for additional BTS concert dates on behalf of young fans. The title was awarded by House Radio, Mexico’s leading digital pop music station, as Jin’s solo work continues to gain momentum ahead of BTS’ full-group comeback. Jin’s global reach has been led by “Don’t Say You Love Me,” which has amassed 795.56 million streams on Spotify, marking the strongest international performance of his solo career and signaling sustained long-term listener engagement rather than a short-lived spike. The song’s impact extended beyond streaming platforms. At the BreakTudo Awards 2025 in São Paulo, it won “International Hit of the Year,” drawing heightened attention from Latin American fans and industry observers. Beyond charts and trophies, “Don’t Say You Love Me” has been widely noted for its emotional depth. International reviews have pointed to its exploration of relationship uncertainty and the difficulty of letting go, with Rolling Stone India highlighting the track’s melancholic tone and K-drama-style narrative in its music video. House Radio’s year-end rankings further reflected Jin’s presence in the Mexican market. He placed three songs on its list of the “50 Most Important Songs of 2025,” led by “Don’t Say You Love Me” at No. 4, followed by “Running Wild” at No. 5 and “I’ll Be There” at No. 19. 2026-01-28 11:55:06

Korean stocks remain turbo-charged, local won returns to year-end level SEOUL, January 28 (AJP) - Korean markets are on a roll, refreshing new heights, with traction added by overnight news from Washington hinting at room for compromise before it moves to slap higher tariffs on Korean exports. As of 10:30 a.m. Seoul time, the benchmark KOSPI jumped 1.6 percent to 5,165.03, extending its advance into uncharted territory. The KOSPI 200 climbed 1.6 percent to 757.5, while the tech-heavy KOSDAQ surged 3.2 percent to 1,116.7, marking another strong push toward higher valuation ground. The Korean won strengthened, with the U.S. dollar falling 2.20 won to 1,433.3 won. The currency briefly revisited the sub-1,430 level for the first time since late last month, when authorities went all-out to stabilize the local currency toward year-end. Sentiment was lifted by comments from U.S. President Donald Trump, who said he would “work something out with South Korea” before departing for a campaign-related trip to Iowa. The remarks followed a social-media post a day earlier threatening to raise tariffs on South Korean automobiles and other products from 15 percent to 25 percent, citing delays in the Korean legislature’s ratification of a trade agreement. Investors interpreted the latest comments as a sign that negotiations, rather than unilateral tariff action, are likely to continue. Retail investors stepped in aggressively, absorbing selling by institutions and foreign funds. On the KOSPI, foreign investors sold a net 378.9 billion won ($264.6 million), while institutions offloaded 354.1 billion won. Individual investors bought a net 757.3 billion won. On the KOSDAQ, foreign and institutional investors led buying, adding 252.2 billion won and 859.1 billion won, respectively, while individuals sold a net 1.044 trillion won, suggesting a rotation by retail investors toward the larger bourse. Sector performance was broadly strong, led by wholesale and distribution-related shares and electrical equipment names. Battery stocks drew particular attention, with LG Energy Solution rising 4.4 percent to 426,500 won. The gains came after local media speculated the company is in talks with Tesla and several Chinese humanoid robotics firms over battery supply and joint development, while robust operating profit growth reported earlier this month continued to support sentiment. Large-cap technology shares also advanced. Samsung Electronics climbed 1.6 percent to 162,000 won, while SK hynix surged 5.5 percent to 843,000 won, extending gains on optimism over sustained demand for high-bandwidth memory. Elsewhere, EcoPro jumped 13.2 percent to 156,900 won, while Hyundai Motor added 1.1 percent to 494,000 won. Among laggards, Doosan Enerbility slipped 1.3 percent to 92,400 won, while LG CNS fell 3.0 percent to 69,800 won, reflecting profit-taking in select recent outperformers. Across the region, markets were mixed. Japan’s Nikkei 225 fell 0.5 percent to 53,068 as investors locked in gains after recent advances, while China’s Shanghai Composite Index edged up 0.07 percent to 4,142.7. 2026-01-28 11:54:59

Incheon airport expands global reach with record number of airlines SEOUL, January 28 (AJP) - Incheon International Airport has surpassed 100 airlines in operation for the first time since opening in 2001, underscoring its growing role as a regional aviation hub, operator Incheon International Airport Corp. (IIAC) said on Wednesday. As of December, 101 airlines were operating at the airport, up from 47 at its opening, the company said. Seven new carriers were added last year, including Scandinavian Airlines. With the increase in airlines, Incheon now serves 183 cities in 53 countries across passenger and cargo routes. At opening, the airport connected 103 cities in 38 countries, representing growth of 39 percent in countries served and 78 percent in cities, the company said. The airport now operates 159 international passenger routes, the highest number among major competing airports in Northeast Asia. Incheon also has the most routes to North America among its regional peers, with 18, according to the IIAC. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-28 10:52:06

BTS Comeback D-52: Jimin's 'Who' earns double platinum in Canada SEOUL, January 28 (AJP)-BTS member Jimin’s solo single “Who” received a Double Platinum Single certification on January 19, according to a music chart in Canada. Music Canada, formerly known as the Canadian Recording Industry Association (CRIA), grants certifications based on combined figures from digital downloads, streaming and physical single sales. For singles, Music Canada awards Gold certification at 40,000 units, Platinum at 80,000 units and Double Platinum at 160,000 units. Released on July 19, 2024, “Who” surpassed 80,000 units within approximately six months, earning Platinum certification in January. The track has since exceeded 160,000 units in Canada, qualifying it for Double Platinum status. On the same day, “Set Me Free Pt.2,” a pre-release track from Jimin’s first solo album FACE, received Gold certification. Earlier, on January. 16, “Filter” was certified Platinum, while “Lie” earned Gold certification, further highlighting Jimin’s strength as a solo artist in the Canadian market. Jimin had previously made a history with “Like Crazy,” the title track of his first solo album, "FACE," which became the first Korean-language solo track to receive Platinum certification in Canada since PSY’s “Gangnam Style.” With “Who” also reaching Platinum-level certification, Jimin is the first and only Korean artist to earn multiple Music Canada Platinum certifications with non-collaboration solo tracks. 2026-01-28 10:28:34

Hyundai Mobis posts record annual revenue, profit in 2025 SEOUL, January 28 (AJP) - Hyundai Mobis, South Korea's largest automotive parts maker, reported record annual revenue and operating profit on Wednesday, though quarterly net income declined sharply amid tariff pressures and rising costs. The company posted consolidated revenue of 61.12 trillion won ($42.67 billion) and operating profit of 3.36 trillion won for 2025, up 6.8 percent and 9.2 percent year-on-year respectively, according to a regulatory filing. For the fourth quarter, revenue rose 4.7 percent to 15.4 trillion won, while operating profit slipped 5.6 percent to 930.5 billion won. Pre-tax profit and net profit tumbled 21.6 percent and 39.9 percent respectively compared with the same period a year earlier. The manufacturing division, encompassing module assembly and parts production, posted revenue of 47.8 trillion won for the full year, a 5.9 percent increase. The company attributed the gains to expanded operations at its North American electrification plant and robust demand for electronic components, while pursuing cost efficiency measures to offset tariff burdens. The after-sales parts business generated 13.32 trillion won in revenue, up 10.2 percent, fueled by global demand and favorable exchange rates. On shareholder returns, Hyundai Mobis raised its annual dividend to 6,500 won per share and retired 2.26 million treasury shares, achieving a total shareholder return of 32.8 percent for the year. The company said it would continue expanding global production bases and investing in future mobility, with research and development spending projected to exceed 2 trillion won for the first time this year. 2026-01-28 10:20:41

Park Chan-wook's 'No Other Choice' fails to make BAFTA final nominees SEOUL, January 28 (AJP) - Director Park Chan-wook's film No Other Choice failed to make the final list of five nominees competing for next month's British Academy of Film and Television Arts (BAFTA) awards. Among the five final nominees, announced on Tuesday about a month ahead of the annual awards, were Iran's "It Was Just an Accident," Brazilian historical thriller "The Secret Agent," Norway's "Sentimental Value," Spanish-French co-production "Sirât," and Tunisian-French co-production "The Voice of Hind Rajab." Earlier last month, expectations had been building after Park's 139-minute thriller was longlisted, along with nine other films, for the award recognizing the "Best Film Not in the English Language." Previously, "No Other Choice" did not win any awards at the U.S. Golden Globes earlier this month despite earning three nominations, and it also missed out on the final nominees for the prestigious Academy Awards, scheduled to be held in March. But "Bugonia," a remake of director Jang Joon-hwan's 2003 film "Save the Green Planet!" is vying for awards after earning five nominations. The 79th BAFTA ceremony will be held in London on Feb. 22. 2026-01-28 10:17:14

Asia's largest cruise ship to sail from Incheon under Lotte Tour partnership SEOUL, January 28 (AJP) - South Korea's Lotte Tour Development has partnered with global cruise operator MSC Cruises to operate a large cruise ship with South Korea as its home port. The company said on Wednesday it signed a strategic partnership agreement with MSC Cruises on Jan. 27 covering charter operations. Under the agreement, the 170,000-ton MSC Bellissima will begin sailings from Incheon Port in June 2027. Lotte Tour Development described the vessel as the largest cruise ship to operate from a South Korean home port. The MSC Bellissima is about 315 meters long, and can accommodate up to 5,600 passengers. Existing cruise ships used for charter operations in South Korea typically measure about 110,000 tons, the company said. The inaugural itinerary will be a six-night, seven-day voyage departing from Incheon, calling at Keelung in Taiwan and Sasebo in Japan, before returning to Incheon. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-28 10:14:37