South Korea's LS Electric sees record orders, earnings on power infrastructure boom SEOUL, January 27 (AJP) - South Korean power equipment company LS Electric said on Tuesday it posted record revenue and operating profit in 2025, driven by strong growth in its North American business and rising demand for power infrastructure. The company said consolidated revenue rose 9 percent from a year earlier to 4.96 trillion won, while operating profit increased 9.6 percent to 426.9 billion won. Fourth-quarter revenue climbed to a record 1.52 trillion won, with operating profit also reaching an all-time high of 130.2 billion won. LS Electric attributed the gains to expansion in its global business, led by power systems for large technology companies’ data centers in North America and its ultra-high-voltage transformer operations. The company also cited a selective order strategy focused on higher-margin projects. Orders related to data center power systems exceeded 1 trillion won last year as it expanded sales in the North American power distribution market. The ultra-high-voltage transformer business also recorded an increase in new orders, mainly in the United States, supported by expanded production capacity following the completion of its second plant in Busan. Revenue from North America surpassed 1 trillion won for the first time in 2025, rising about 30% from a year earlier and emerging as a key growth driver, the company said. LS Electric also reported solid performance in Southeast Asia, citing increased power infrastructure investment in markets such as Vietnam and Indonesia. Simpors, an Indonesian power equipment company acquired in 2023, posted double-digit growth in operating profit. The company said its order backlog reached a record level of about 5 trillion won at the end of 2025. Ultra-high-voltage transformer orders accounted for roughly 2.7 trillion won, more than half of the total. New orders during the year totaled about 3.7 trillion won, the highest annual level in the company’s history. An LS Electric official said the data center power systems and ultra-high-voltage transformer businesses in North America marked the company’s entry into an era of 1 trillion won in regional revenue. The official said LS Electric plans to strengthen its position as a global total power solutions provider in 2026 by focusing on next-generation businesses such as high-voltage direct current systems and energy storage systems, while expanding into Europe and the Middle East. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-27 13:45:29

Korean ruling party to hasten passage of bill on Korean invest to US SEOUL, January 27 (AJP) -South Korea’s ruling Democratic Party on Tuesday vowed to speed up the legislation to support the country’s $350 billion investment commitment to the United States after President Donald Trump blamed the Korean legislative for his plan to reinstate the tariffs on selective Korean exports to 25 percent. The party stressed that Trump was referring to legislation that has yet to be enacted in South Korea, not to parliamentary ratification of a bilateral deal. The DP submitted a bill on bilateral trade and investment deal with the U.S. in November, and Washington in December lowered tariffs on Korean automobiles to 15 percent, retroactive to Nov. 1 , through a Federal Register notice. Kim Hyun-jung, the party’s floor spokesperson, told reporters after a closed-door party meeting that some media reports had incorrectly interpreted Trump’s comments as meaning the Assembly had failed to ratify an agreement. Kim said action on a special bill tied to U.S. investment has been delayed despite five related bills already being referred to the National Assembly’s Finance and Economy Planning Committee. She said the opposition People Power Party had opposed moving the bills forward while insisting that parliamentary ratification was required. She added that one of the five bills was submitted by People Power Party lawmaker Park Sung-hoon, arguing that conditions are now in place for discussions to proceed. The bills are currently being handled under the Assembly’s legislative schedule, she said. Kim said the Democratic Party aims to pass the measure through bipartisan agreement, citing the need to secure roughly $20 billion a year in U.S. investment, alongside exchange-rate measures and what she described as “reasonable commercial viability.” She said calls for parliamentary ratification have made cross-party consensus necessary but reiterated that the party does not plan to pursue ratification. “The measure is not subject to ratification,” Kim said, warning that doing so could bind South Korea more tightly. She noted that the United States raised tariffs through an executive order and argued that if only South Korea were to ratify, the legal burden would fall disproportionately on Seoul. Kim said the party will later coordinate with the government to finalize the bill “precisely and quickly.” Separately, the Democratic Party said it will launch a “Fix Coupang” task force on Feb. 2 to push for measures to prevent a recurrence of a large-scale personal data leak involving the e-commerce giant and to explore alternatives. “Coupang is a Korean corporation and is subject to Korean law,” Kim said, rejecting claims that the initiative targets a U.S. company. She cited concerns over the leak of personal data affecting an estimated 30 million users and said the party’s response would be guided by national interest considerations. Some U.S. lawmakers and investors have accused the Korean government of being "discriminatory" in its sweeping probes on Coupang, and the State Department expressed "significant concerns" over Seoul's regulatory moves that could affect online platform businesses. Coupang claims itself as a "U.S. tech company" although its revenue entirely comes from e-commerce, food delivery, and streaming services in South Korea. 2026-01-27 13:27:28

Samsung's Lee to host gala in Washington with Lutnick invited amid renewed tariff threat SEOUL, January 27 (AJP) -Samsung Electronics Chairman Lee Jae-yong is due in Washington, D.C., this week amid renewed tariff threat from President Donald Trump, raising attention on whether tycoon can serve as an informal business-diplomatic channel. Lee’s visit comes after Seoul emerged as the latest target of Trump’s tariff offensive, with the U.S. president warning overnight on social media of sweeping tariff hikes to 25 percent on South Korean exports, citing delays in Korea’s National Assembly approving a bilateral trade agreement reached last year. Lee is scheduled to host a gala on Jan. 28 (local time) tied to a special exhibition of his late father and group chairman Lee Kun-hee’s art collection at Smithsonian's National Museum of Asian Art (NMAA) in Washington D.C. before this week's closing. Among the VIPs are U.S. Commerce Secretary Howard Lutnick as well as other key figures from Congress, White House and business circle. The entire Lee family will be there, mother Hong Ra-hee, honorary director of the Leeum, Samsung Museum of Art; sisters Lee Boo-jin, president of Hotel Shilla; and Lee Seo-hyun, president of Samsung C&T. The gathering comes at a sensitive time. Lutnick oversees the Trump administration’s tariff policy. Attendance could be affected by weather conditions. Heavy snowfall in the U.S. East forced the Smithsonian Institution to temporarily close all museum facilities on Jan. 25 and 26. The gala marks the successful launch of what organizers describe as the largest exhibition of Korean antiquities in North America in more than 40 years, highlighting the late Chairman Lee Kun-hee’s cultural vision. “Korea’s Treasures: Collecting, Cherishing, Sharing,” the first overseas touring exhibition of donated works, opened on Dec. 15 for run through Feb. 1. The exhibition is drawn from more than 23,000 works donated to the government in 2021 by the family of the late Kun-hee Lee, the longtime chairman of Samsung. Lee was best known as the business leader who transformed Samsung Electronics into one of the world’s leading electronics companies, but at home in Korea he was also known as a devoted art collector. 2026-01-27 12:52:24

[[BTS Comeback]] Global tour draws presidential plea from Mexico SEOUL, January 27 (AJP) - BTS’s first global concert tour in nearly four years, following the completion of the Korean members’ mandatory military service, has reached the level of presidential diplomacy in Mexico. Mexican President Claudia Sheinbaum said she had personally appealed to South Korean President Lee Jae Myung to help secure additional BTS concert dates in Mexico, citing overwhelming demand from Mexican youth. Speaking at a regular press briefing on Jan. 26 local time, Sheinbaum said she sent a message to Lee asking for his support in expanding the group’s scheduled performances during their Mexico stop in May. “We have not yet received a response, but we hope it will be positive,” she said. Sheinbaum added that she also contacted concert organizers to explore the possibility of adding more shows. However, local promoter Ocesa has said that additional dates are currently not feasible. BTS is scheduled to perform at GNP Seguros Stadium in Mexico City on May 7, 9 and 10. A senior official at HYBE, the group’s management agency, said the company has not received any formal request regarding the matter. Sheinbaum had earlier welcomed the confirmation of BTS’s visit, saying during a Jan. 19 briefing that the concerts fulfilled a “historic request” from Mexican youth. GNP Seguros Stadium has a capacity of approximately 50,000 to 60,000, and all tickets sold out within 37 minutes of going on sale on Jan. 24. Ticketmaster described the sale as one of the most intense in Mexico’s recent concert history, with searches originating from more than 1,300 cities worldwide. According to Sheinbaum, around 150,000 tickets were sold, while more than 1 million people attempted to purchase them. Meanwhile, Mexico’s Federal Consumer Protection Office (Profeco) has launched an investigation into Ticketmaster over unclear consumer information and potential scalping practices. The agency has also warned resale platforms such as StubHub and Viagogo, where tickets have been listed at five to six times their original prices. 2026-01-27 11:40:51

Customs watchdog seizes over 100,000 knockoffs of South Korean brands, mostly Chinese SEOUL, January 27 (AJP) - About 117,000 counterfeit items copying South Korean brands were seized last year, the Korea Customs Service said on Tuesday. The seizure came after the customs watchdog launched an intensive crackdown on knockoffs that capitalize on the global popularity of South Korean goods and products. These counterfeit goods were found in cargo and express parcels shipped through foreign online shopping platforms. By country of origin, China accounted for 97.7 percent of such shipments, followed by Viet Nam at 2.2 percent and Hong Kong at 0.1 percent. By product, cosmetics made up 36 percent and toys and stationery 33 percent. To prevent possible damage to South Korean companies, the KCS plans to strengthen international cooperation with overseas customs authorities and investigating distribution networks in countries most affected by counterfeit goods. The KCS' chief Lee Myeong-gu described infringement of intellectual property as a "crime that threatens the achievements of South Korean businesses," vowing to expand efforts for collaboration with overseas customs agencies. 2026-01-27 11:29:50

Seoul markets mostly unfazed by renewed Trumpian tariff threat SEOUL, January 27 (AJP) –Stocks were undisturbed in their growth momentum while the Korean won gave up earlier gains against the U.S. dollar as the Korean financial markets weighed the gravity of the overnight social-media threat by President Donald Trump to reinstate 25-percent tariffs on selected South Korean exports including automobiles. As of 10:23 a.m. Seoul, KOSPI rose 0.76ercent to 4.987.03 smaller KOSDAQ up 0.93 percent at 1,074.64. The won was mildly affected, with the U.S. dollar rising 1.6 won to 1,449.60 won. In a post on his Truth Social platform late Sunday, Trump said he would raise tariffs on South Korean products — including autos, lumber and pharmaceuticals — from 15 percent to 25 percent, citing Seoul’s failure to ratify what he described as a “historic trade agreement.” “Because the Korean Legislature hasn’t enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15% to 25%,” Trump wrote. He did not specify when the higher tariffs would take effect. Trump said the move followed South Korea’s failure to ratify a trade package he said was reached with President Lee Jae Myung on July 30, 2025, and reaffirmed during his visit to Korea in late October. Shares of Hyundai Motor, which would be among the most directly affected, fell as much as 4 percent earlier in the session but later pared losses to trade down just 0.1 percent, as Seoul authorities moved quickly to assess potential countermeasures. The Korea Pharmaceutical and Bio-Pharma Manufacturers Association said the impact on the industry is likely to be limited, noting that relatively few Korean drugmakers have significant direct exposure to the U.S. market. It added that companies with U.S. exposure have already secured alternative arrangements, including local contract manufacturing or acquisitions of production facilities, to mitigate risks. The pharmaceutical index slipped 0.8 percent. Defense and aerospace shares also edged lower, with Hanwha Aerospace down 0.48 percent at 1,256,000 won. Shipbuilders showed mixed performance. HD Hyundai Heavy Industries fell 2.98 percent to 587,000 won, while Hanwha Ocean gained 0.86 percent to 141,000 won. In regional markets, Japan’s Nikkei 225 slipped 0.12 percent to 52,819.94, as investors monitored potential spillover effects should Washington revisit similar tariff arrangements with Tokyo. 2026-01-27 11:08:14

Late ex-PM Lee Hae-chan's casket arrives from Viet Nam SEOUL, January 27 (AJP) - The body of former Prime Minister Lee Hae-chan, who died last Sunday during a visit to Viet Nam, was returned home on Tuesday. The senior vice chairperson of the Peaceful Unification Advisory Council (PUAC), a presidential consultative body, died of cardiac arrest at a hospital in Ho Chi Minh City. Lee's casket arrived at Incheon International Airport earlier in the day, where government officials and political figures including senior presidential aide Cho Jung-sik gathered to pay their respects, before being transported to Seoul National University Hospital for his funeral service. According to PUAC, Prime Minister Kim Min-seok will oversee Lee's funeral service along with the ruling Democratic Party (DP)'s leader Jeong Cheong-rae. Mourners will be allowed to pay their respects for five days at a memorial altar at the hospital in central Seoul. Born in 1952 in Cheongyang, South Chungcheong Province, the seven-term lawmaker began his political career in 1988 after fighting for South Korea's democracy in the 1970s and went on to serve in numerous government roles. He remained a respected and influential figure within the liberal camp, even after retiring from politics in 2020. 2026-01-27 10:34:59

LG CNS' annual profit rises on AI and cloud demand SEOUL, January 27 (AJP) - South Korean IT services firm LG CNS reported an 8.4 percent rise in operating profit for 2025, powered by robust demand for artificial intelligence and cloud computing solutions. The company posted an operating profit of 555.8 billion won ($382.8 million) for the year, up from 512.7 billion won in 2024, according to a regulatory filing on Tuesday. Annual revenue edged up 2.5 percent to 6.13 trillion won, while net profit jumped 21.2 percent to 442.2 billion won. Revenue from AI and cloud services, the company's core growth engines, climbed 7.0 percent year-on-year to 3.59 trillion won. LG CNS said it has secured what it described as an industry-leading number of external clients across finance, manufacturing and public sectors for its AI transformation business. Fourth-quarter operating profit rose 7.9 percent to 216 billion won from a year earlier. Revenue for the October-December period reached 1.94 trillion won, with net profit at 180.6 billion won. The IT services provider has been expanding into agentic AI through its AgenticWorks platform and participating in a consortium led by LG AI Research Institute to develop a homegrown AI foundation model. In the cloud segment, LG CNS is accelerating its push into the global AI data center market, having won its first overseas contract in Indonesia. LG CNS said it plans to strengthen its position in AI and robotics transformation this year, developing specialized AI agents for various industries while pursuing partnerships with global technology firms. The company is also conducting proof-of-concept trials for industrial humanoid robots at about 10 client sites, including logistics centers and factories. 2026-01-27 10:16:09

LS Cable & System secures Malaysia subsea power cable contract SEOUL, January 27 (AJP) - South Korea's LS Cable & System has won a turnkey contract worth about 60 billion won ($41 million) from Malaysia’s national utility, Tenaga Nasional Berhad (TNB), to build a subsea power transmission network. The project involves expanding a 132-kilovolt subsea power link between Malaysia’s mainland and Langkawi Island, a major tourist destination, to enhance the stability of electricity supply, the company said on Tuesday. LS Cable & System secured the contract after beating multiple global competitors, winning the second phase of the Langkawi subsea cable project following the successful completion of the first phase. The company attributed the achievement to trust built through the earlier project and its overall competitiveness in turnkey execution. Countries in Southeast Asia are advancing large-scale subsea grid projects as part of the ASEAN Power Grid (APG) initiative, which aims to interconnect national power systems across the region. Industry estimates cited by the company project the global subsea cable market will grow to about 34 trillion won by 2030, with the Asia-Pacific region accounting for roughly 20 trillion won of that total. LS Cable & System said it plans to leverage the Malaysia project to strengthen its overseas track record. “Based on our proven turnkey capabilities, we aim to successfully deliver backbone grid projects at home and abroad and strengthen our leadership in the subsea cable market,” the company said in a press release. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-27 10:00:36

SK Innovation E&S starts LNG production at Australia's Barossa offshore field SEOUL, January 27 (AJP) - South Korea's SK Innovation E&S said on Tuesday it has begun full-scale natural gas production at Australia’s Barossa gas field and successfully loaded its first liquefied natural gas (LNG) cargo. The company said gas produced at the offshore Barossa field was transported to the Darwin LNG terminal, where the inaugural LNG shipment was loaded. Barossa is located about 300 kilometers off Australia’s northwest coast. SK Innovation E&S holds a 37.5 percent stake in the project and is a key partner alongside Australia’s Santos, which owns 50 perent, and Japan’s JERA, with 12.5 percent. SK Innovation E&S invested a total of $1.6 billion, or about 2 trillion won, covering reserves assessment, regulatory approvals and construction of offshore and onshore facilities. With production under way, the company said it expects to secure 1.3 million tons of LNG annually for the next 20 years, equivalent to roughly 3 percent of South Korea’s total annual LNG imports. The supply is expected to bolster South Korea’s energy security amid heightened volatility in global energy markets driven by geopolitical risks, including international disputes. The Barossa project adopted a brownfield development strategy by retrofitting and reusing the existing Darwin LNG terminal instead of constructing a new facility, the company said, helping to reduce capital costs. It also cited price competitiveness due to Australia’s proximity, with shipping times of about 10 days compared with longer routes from the Middle East or the United States. Lee Jong Soo, president of SK Innovation E&S, said the start of LNG production at Barossa followed decades of sustained effort by a private company in the high-risk resource development sector. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-27 09:53:47