Korean won at record low signals monetary policy failure SEOUL, December 15 (AJP) - The Korean won hovering near its weakest level on record is set to ripple across the economy, from higher inflation and capital outflows to a deepening discount on Korean assets and companies. The dollar closed Monday in Seoul at 1,472.2 won, down 5.30 won, as the yen strengthened broadly on expectations of a rate hike in Japan later this week. The modest pullback offered only fleeting relief for policymakers. Authorities were alarmed enough to convene an emergency meeting on Sunday, attended by the finance minister, central bank governor, financial regulators and senior officials from the presidential office, welfare ministry and industry ministry, after the dollar approached 1,480 won in over-the-counter trading. Despite the brief rebound, the won’s slide has reached historic proportions. The average dollar-won exchange rate for the year through Dec. 14, 2025, stands at 1,420 won — surpassing the previous record of 1,394.7 set in 1998, when South Korea was under an International Monetary Fund bailout. The longer-term trend is equally troubling. The won has weakened steadily since 2021, initially reflecting ultra-loose global liquidity during the pandemic, followed by aggressive post-pandemic monetary tightening. What stands out now is a clear decoupling. The won is falling sharply against the backdrop of dollar softening and rate cuts in the U.S. So far this month, the won has lost 0.7 percent against the dollar, while most major currencies have gained. Economists increasingly point to excess liquidity as the root cause. Korea’s policy normalization has proceeded more slowly and cautiously than elsewhere, largely out of concern over household debt levels, among the highest in the world. “If I had to summarize the reason for the exchange rate rise in one word, it would be ‘liquidity,’” said Kim Gwang-seok, director of economic research at the Korea Institute for Industrial Economics & Trade. Korea’s broad money supply (M2) grew 8.5 percent year over the year as of September, according to the Bank of Korea. Even excluding exchange-traded funds, growth stood at 6.3 percent — up to three times faster than the United States’ 4.6 percent and Japan’s 1.8 percent. An oversupply of won inevitably erodes its value. “When M2 expands, inflation rises, household debt swells, and exchange-rate instability accelerates as the supply of won increases,” said Moon Hong-cheol, an analyst at DB Securities. The liquidity glut has spilled across borders. Korean nationals’ overseas equity purchases surged to $18 billion in October — six times the $2.93 billion foreign investors put into Korean stocks — according to Bank of Korea data. Flush with cash, Koreans are choosing foreign assets over domestic ones, a telling verdict on confidence in the won. Large-scale capital commitments abroad are also adding pressure. The $350 billion in promised investments in the United States, agreed during bilateral trade negotiations, are widely cited as another structural source of net won outflows. Unlike Japan, which benefits from a standing currency swap line with the U.S., South Korea has limited buffers, relying on foreign-currency bond issuance or returns from overseas assets — constraints that weigh on its dollar liquidity. A weak won quickly feeds into prices. Import costs are rising even as global energy prices fall. South Korea’s import price index rose 2.6 percent on month and 2.2 percent on year in November, the steepest monthly increase since April last year. This came despite Dubai crude averaging $64.47 per barrel, down from $65 in October, underscoring how exchange rates — not commodity prices — are driving inflationary pressure. Beyond households, prolonged currency weakness threatens longer-term damage to Korean Inc. Cross-border mergers and acquisitions reached nearly $3 billion as of September, up 54 percent on year, accounting for 13 percent of the $20.65 billion in foreign direct investment pledged by the third quarter, according to the Ministry of Trade, Industry and Energy. FDI inflows jumped 36.5 percent to $3.07 billion as a won that averaged 4 percent weaker than last year’s level effectively discounted Korean assets. High-profile targets such as Lotte Rental and IGIS Asset Management have drawn aggressive foreign interest — a grim reminder of past episodes when distressed Korean companies were snapped up during IMF crisis in what felt like fire sales. Underlying growth also weighs over the currency prospects. “Semiconductor exports have increased, but the domestic economy has failed to emerge from its slump, and shrinking domestic investment is entrenching a low-growth trajectory,” the Korea International Trade Association said in a report last week, calling for structural reform. “Attempts to manage currency supply and demand without addressing fundamental structural issues will ultimately fall short,” the report warned. 2025-12-15 17:53:58

Korean and foreign brokerages chant KOSPI 5,000 for next year SEOUL, December 15 (AJP) - South Korea’s benchmark KOSPI has hovered around the 4,000 level throughout December, entering a consolidation phase after a stunning rally that lifted the index 64 percent so far this year. But after catching its breath, the market may be setting its sights on the next psychological milestone — 5,000 — in 2026, according to a growing chorus of domestic and foreign brokerages. Among 11 local brokerages that have published 2026 outlooks, the average upper-end forecast stands at 4,979, while the average lower-end projection is 3,737. Roh Dong-gil, an analyst at Shinhan Investment & Securities, predicted that the Korean stock market will enter “an uncharted new world” next year, driven by structural expansion in corporate earnings. “Growth sectors such as artificial intelligence, semiconductors, secondary batteries, healthcare and renewable energy will lead earnings growth,” Roh said. KB Securities analyst Lee Eun-taek also forecast what he described as a “best-ever bull market,” contingent on government-led capital market reforms and a strengthening won reinforcing investor confidence. Foreign investment banks are even more bullish. JPMorgan expects the KOSPI to reach 5,000 next year, Citi sees it climbing to 5,500, while Macquarie has raised its target to 6,000. Talk of a 7,500 KOSPI has also entered market discourse. In a report released on Nov. 6, KB Securities set its 2025 target at 5,000, while outlining a long-term bull-case scenario of 7,500. The optimism is underpinned by expectations of a bumper year for South Korea’s memory chip industry, widely seen as the main engine of economic growth in 2025. Both domestic and global institutions have recently upgraded their growth forecasts for the Korean economy. Nomura raised its 2026 GDP growth projection to 2.3 percent from 1.9 percent, while the OECD forecasts 2.2 percent. The Korean government, the Korea Development Institute and the International Monetary Fund each project 1.8 percent growth, while the Korea Institute of Finance sees 2.1 percent. Earnings expectations for major chipmakers are fueling the bullish case. SK hynix’s operating profit is forecast at 74.65 trillion won ($50.66 billion) next year, up 75.2 percent from this year, while Samsung Electronics’ operating profit is projected to jump 114.4 percent to 83.24 trillion won. Together, the two firms are expected to drive aggregate earnings growth among KOSPI-listed companies in 2025. Additional tailwinds include strong earnings momentum in AI-related sectors, government-led capital market reforms, and expectations of dollar weakness amid declining global interest rates. Many strategists believe a liquidity-driven rally could begin next year as the U.S. Federal Reserve continues its easing cycle, having already cut rates three times this year. Samsung Securities, in particular, expects the share of pro-Trump policymakers within the Fed to increase, amplifying calls for further rate cuts. With Chair Jerome Powell’s term set to expire in May, the next Fed leadership could tilt toward a more growth-friendly stance aligned with former President Donald Trump’s policy preferences. Still, economists warn against excessive optimism. “Levels such as 6,000 or even 7,500, as projected by Macquarie or some local brokerages, represent the extreme end of bullish scenarios,” said Kim Dae-jong, a professor of business administration at Sejong University. “Such targets would require a synchronized combination of global liquidity easing, a semiconductor supercycle and effective policy reform,” he said. “KOSPI 5,000 is not simply about economic recovery,” Kim added. “It ultimately depends on how far corporate profit structures improve and how deeply capital market reforms take root.” 2025-12-15 17:52:28

Ex-military intelligence chief sentenced to two years in prison over martial law involvement SEOUL, December 15 (AJP) - Noh Sang-won, former chief of South Korea's military intelligence unit, was sentenced to two years in prison on Monday for privacy violations and other charges related to disgraced former President Yoon Suk Yeol's botched martial law debacle last year. The Seoul Central District Court found Noh guilty of gathering personnel information as well as accepting bribes. He was also fined 24.9 million Korean won (US$17,000). It was the first verdict among cases related to the debacle investigated by independent prosecutors led by Cho Eun-suk, who had sought a three-year prison sentence for Noh. Noh was accused of illegally obtaining military personnel data between September and December last year to form a unit investigating election fraud, and of accepting cash and gift vouchers in exchange for promotions. The court ruled that Noh had prepared for Yoon's Dec. 3 martial law declaration, saying his actions and inappropriate use of data were gravely serious and could not be dismissed as mere privacy breaches. Noh avoided a harsher sentence as the court granted leniency, considering that the data was not leaked outside the military and the bribery attempt failed. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 17:41:30

Korean memory giants ready for 2026 peak as HBM boom spills into commodity DRAM SEOUL, December 15 (AJP) - As Big Tech accelerates the next phase of AI infrastructure — with Google challenging Nvidia through in-house chip design and foundation models like Gemini scaling rapidly — the repercussions are becoming systemic for South Korea’s memory industry. Investment banks now project that Samsung Electronics and SK hynix could together generate close to 200 trillion won in operating profit in 2026, an income pool equivalent to roughly 27 percent of the national budget. The driver is no longer just high-bandwidth memory (HBM), long viewed as the crown jewel of the AI era. What is reshaping earnings expectations is the spillover of the AI boom into mass-market DRAM, as memory makers prioritize scarce capacity for HBM and squeeze supply of so-called commodity products. Domestic and global brokerages have upgraded earnings forecasts for both Samsung and SK hynix on signs of customer stockpiling driven by fears of a prolonged memory shortage. Prices of mainstream DDR products have surged to levels that, on a per-gigabyte basis, now rival — and in some cases approach — those of advanced HBM stacks. KB Securities analyst Kim Dong-won projects Samsung’s operating profit at 97 trillion won in 2026, up 129 percent from this year’s estimate. He expects Samsung’s HBM market share to “roughly double” to around 35 percent, as supply expands beyond Nvidia to a broader pool of hyperscalers and custom ASIC customers. The call fits a broader market narrative: 2026 could mark an earnings apex as the “GPU-only” AI era evolves into a more fragmented ecosystem. Google’s TPUs, Amazon’s Trainium and Microsoft- and Meta-backed ASIC programs are widening HBM demand across customers — boosting both volume and product mix for Korea’s leading memory suppliers. Yet an equally consequential shift is unfolding in pricing dynamics for conventional DRAM. Commodity DRAM closes the gap Industry data show that the price gap between HBM and commodity DRAM — once four to five times — has narrowed sharply. HBM4, the sixth-generation standard expected to enter broader supply in the second half of next year, is priced in the mid-$500 range for a 36GB stack, implying roughly $15 per gigabyte. By contrast, as of Dec. 12, spot prices for PC-grade DDR5 16-gigabit products stood at $26.20, or about $13 per gigabyte. Server-grade DDR5 RDIMM 64GB modules have climbed to around $780, translating to roughly $12 per gigabyte. Commodity DRAM has surged to within striking distance of HBM pricing. The implications for profitability may be even more consequential. HBM requires advanced foundry processes for base dies and highly complex packaging, both of which weigh on margins. UBS has projected that tightening DRAM supply could push DDR gross margins above HBM for the first time in early 2026, marking a rare inversion in the memory hierarchy. This reflects a supply-driven distortion. As memory makers devote limited cleanroom capacity to HBM, shortages in conventional DRAM are emerging — pushing prices higher across PCs, servers and AI-adjacent applications. A researcher at the Korea Development Institute (KDI) said the current cycle reflects a structural supply squeeze rather than a temporary demand surge. “HBM demand will continue, but it does not replace DRAM,” the researcher said. “While DRAM demand remains solid, production lines are increasingly being shifted toward HBM, tightening supply.” The dynamic, the researcher added, creates a favorable pricing environment in which both HBM and conventional DRAM benefit simultaneously — reinforcing expectations that memory earnings could reach a historical peak. Strategy shifts at Samsung and SK hynix The pricing shift is already reshaping production strategies. Samsung Electronics, while maintaining HBM3E supply for Nvidia’s Blackwell accelerators and Google’s seventh-generation TPUs, is simultaneously expanding investment in HBM4, GDDR7 and low-power DRAM (LPDDR5). The aim is to maximize exposure to what analysts increasingly describe as a memory super-cycle, spanning both premium and mainstream products. SK hynix, long seen as all-in on Nvidia-bound HBM, is also recalibrating. While it continues to focus on HBM3E and prepares HBM4 shipments for next year, the company is sharply expanding production of next-generation commodity DRAM (1c DRAM) at its Icheon campus. Monthly capacity is set to rise to 140,000 wafers, an eightfold increase from current levels. For investors, this matters because the memory cycle is once again being treated as a macro-level earnings engine, not a narrow semiconductor niche. Analysts increasingly assess Samsung’s recovery not as a simple “DRAM price beta,” but as a test of whether its HBM ramp-up, customer diversification and packaging roadmap can deliver a steeper profit curve — driven less by smartphones and PCs than by data-center capital spending and custom silicon programs. The bullish forecasts remain execution-dependent. HBM remains not just capacity-constrained but qualification-constrained, with share gains hinging on yield stability, packaging throughput and reliability at scale. Missteps in any of these areas could quickly reshape market shares. If the cycle unfolds as brokers expect, 2026 would mark a rare two-engine peak for Korea’s chip sector: SK hynix monetizing its HBM lead, and Samsung converting its catch-up phase into market share and margin expansion — with both trajectories increasingly tied to the pace of global AI infrastructure buildouts rather than the traditional consumer-electronics memory cycle. In the AI era, even “commodity” DRAM is no longer behaving like a commodity. 2025-12-15 17:29:58

Asian stocks slide on AI bubble fears, Fed uncertainty SEOUL, December 15 (AJP) - Asian equity markets fell broadly on Monday, pressured by growing skepticism over artificial intelligence-driven growth and renewed uncertainty about the future path of U.S. monetary policy. The sell-off reflected concerns that investor enthusiasm for AI-related stocks may be running ahead of fundamentals. Market uncertainty was compounded by reports that the Trump administration is considering Kevin Warsh, viewed as dovish, as the next chair of the U.S. Federal Reserve. The speculation appeared to contradict Fed Chair Jerome Powell’s recent guidance that only one additional rate cut is likely in 2026. In South Korea, the benchmark KOSPI index closed down 1.84 percent at 4,090.59, dragged lower by heavy foreign selling. Overseas investors sold a net 957 billion won ($650 million), while institutions offloaded 478.3 billion won. Retail investors, anticipating a rebound, were net buyers of 1.42 trillion won. Despite the equity sell-off, the Korean won strengthened, gaining 4.3 won to trade at 1,470.8 per dollar as of 4:40 p.m. local time. The yield on the 10-year government bond fell 8.4 basis points to 3.325 percent, reflecting a flight to safety. Large-cap stocks led declines. Samsung Electronics fell 3.76 percent to 104,800 won, while SK hynix dropped 2.98 percent to 554,000 won. Hyundai Motor slid 2.65 percent to 293,500 won, weighed by profit-taking and investor assessments that its autonomous driving technology trails rivals such as Tesla, Zeekr and General Motors. Korea Zinc bucked the broader market, jumping 4.87 percent to 1,592,000 won. Investors viewed Chairman Choi Yun-birm as gaining the upper hand in a management dispute with Young Poong, following reports that the company plans to build a 10 trillion won smelter in the United States and pursue an equity sale to U.S. investors through a third-party share issuance. Biotech stocks also advanced, supported by expectations that U.S. rate cuts will improve sector profitability. Samsung Biologics rose 4.73 percent to 1,772,000 won, while Samsung Episholding surged 7.26 percent to 709,000 won. Gains in biotech lifted the tech-heavy KOSDAQ, which closed 0.16 percent higher at 938.83. Aimed Bio, which has technology contracts with Boehringer Ingelheim and specializes in antibody-drug conjugate cancer treatments, soared 26.12 percent to 70,500 won, marking a record high since its December 4 listing. Elsewhere in Asia, Japan’s Nikkei 225 fell 1.31 percent to 50,168.11. Semiconductor-related stocks were hit hard amid U.S.-led AI skepticism, with Advantest sliding 6.42 percent and Ibiden tumbling 6.78 percent. In contrast, export-oriented stocks benefited from expectations of looser U.S. monetary policy, with Toyota Motor rising 2.76 percent to 3,350 yen. Taiwan’s TAIEX closed 1.17 percent lower at 27,866.94. Taiwan Semiconductor Manufacturing Company fell 2.03 percent to 1,450 Taiwan dollars, while MediaTek gained 1.07 percent on optimism surrounding its new Dimensity chipset and stronger smartphone sales in China. Mainland Chinese markets also declined. The Shanghai Composite Index slipped 0.55 percent to 3,867.92, while technology-heavy benchmarks saw steeper losses. The Shenzhen Component fell 0.87 percent, and Hong Kong’s Hang Seng Index was down 1.36 percent at 25,625 as of late afternoon trading. 2025-12-15 17:19:18

K-Content in 2025: The year animation won — but largely without Korea SEOUL, December 15 (AJP) - Animation was the biggest winner in Korea's film and streaming market in 2025 — a year otherwise marked by stagnation — but much of that success bypassed Korean creators. Japanese R-rated animated films dominated domestic box offices, while local streaming releases struggled to gain traction against international blockbusters such as "KPop Demon Hunters." Industry observers warn that if Netflix's reported pursuit of Warner Bros. Discovery (WBD) materializes, Korean originals could be further crowded out, accelerating a shift toward platform-driven franchises at the expense of the genre-blending experimentation that once defined the global rise of Korean content, from "Parasite" to "Squid Game." Japanese animation lifts theaters In cinemas, Japanese animation provided rare relief for exhibitors. According to year-end box office rankings, "Demon Slayer: Infinity Castle" topped the charts, drawing around 5.68 million viewers, while Korean releases struggled to produce a comparable breakout. "Chainsaw Man: Reze Arc" alone surpassed 3.41 million admissions, ranking fifth overall and sustaining strong momentum throughout its run. The animation boom was fueled largely by Japanese manga IP and a loyal adult fan base — particularly viewers in their 40s and under — tied to the fandom surrounding shonen franchises such as "Demon Slayer," "Jujutsu Kaisen" and "Chainsaw Man." The result was a paradoxical year: theaters benefited from animation's revival, but Korean films were not central to the recovery. A global OTT hit — but not a Korean production On streaming platforms, "KPop Demon Hunters" towered over competitors in the second half of the year. Despite being steeped in Korean themes — K-pop, food, beauty, tradition, and lifestyle — Korea can claim little industrial credit for its success. Netflix's Tudum data, which tracks views in the first 91 days, showed the film ranked No. 1 across all film and TV categories globally in 2025, outperforming both English- and non-English-language titles. It surpassed flagship series such as "Squid Game" and "Wednesday" in raw viewership. Netflix said the film recorded 325.1 million views, becoming the first title on the platform to cross the 300 million mark. Its soundtrack, led by "Golden," peaked at No. 5 on the Billboard Hot 100 this week and remained on the chart for 24 consecutive weeks despite seasonal competition from Christmas classics. International media hailed the phenomenon as "a new chapter for K-content and K-pop." From an industrial perspective, however, the film is fundamentally an American production. It was produced by Sony Pictures Animation, with Netflix handling distribution and full investment. According to foreign media reports, including Forbes, the production budget was around $100 million, while Sony's earnings — earned without direct investment — are estimated at roughly $20 million. Netflix, which controls the intellectual property, is expected to extract long-term value exceeding $1 billion through future exploitation. The film's success underscored the limits of this year's K-content narrative. Produced in English for a global audience, "KPop Demon Hunters" traveled well — but it did not redefine Korean storytelling in the way earlier Korean-language works once did. Local creativity still flickers Still, Korean filmmakers showed they have not lost their creative instincts. One of the year's most unexpected successes was "My Daughter Is a Zombie," a homegrown comedy that defied a market dominated by franchises and imported animation. It became the first Korean release of 2025 to surpass 5 million admissions, while also setting records for advance ticket sales and the strongest opening ever for a Korean comedy. Adapted from cartoonist Lee Yun-chang's popular Naver webtoon series of the same name (2018–2020), the film stayed faithful to the tone and emotional appeal of the original work. Its success revived the communal theatrical experience, drawing audiences back into cinemas to laugh, cry and react together. At the other end of the spectrum stood "No Other Choice," the latest film by internationally acclaimed director Park Chan-wook. While not positioned as a mass-market blockbuster, the film reaffirmed the enduring pull of globally recognized Korean auteurs, attracting audiences driven by artistic credibility rather than scale or spectacle. "Both K-pop and Korean cinema felt as though they were in a cooling phase overall," culture critic Kim Herin-sik said. "In theaters, films largely lost their presence to animation. At the same time, there was some progress among independent films, including works by director Yoon Ga-eun, suggesting the industry may need to reorganize around smaller-scale productions." "If 'No Other Choice' goes on to win major awards," he added, "it could help reverse the overall mood." Netflix dominance and consolidation risk Despite these challenges, Korean titles continue to maintain a strong presence in an English-heavy streaming landscape. Among Netflix's global top-10 titles ranked by views in the first 91 days, eight were English-language productions. The only two non-English titles on the list were both Korean, led by "Squid Game." The contrast reflects the enduring dominance of English-language content, while also confirming sustained global demand for Korean storytelling when cultural specificity translates effectively across markets. "Squid Game" resonated by pairing universal themes — economic inequality and class tension — with distinctly Korean elements such as childhood games including "Red Light, Green Light" and "gonggi." The tension has sharpened as Netflix signals a new phase of consolidation following reports earlier this month regarding a potential acquisition of WBD. If completed, such a deal would fundamentally reshape the global streaming landscape. Netflix would not only consolidate market share but also absorb a vast production apparatus, including WBD's intellectual property — from the "Harry Potter" franchise to HBO flagships such as "Game of Thrones" and "Friends." Industry observers warn that deeper consolidation could accelerate the platformization of content production, making it increasingly difficult for studios to maintain independent voices. For many, a partnership or merger may become the only viable path to survival. Domestic players recalibrate Amid these shifts, domestic players show mixed signals. CJ ENM posted improved results in the third quarter of 2025, supported by theatrical revenue from "No Other Choice" and stronger exports driven by expansion into new markets such as Latin America and the Middle East. Revenue rose across film, drama, music and commerce divisions, signaling a broad-based recovery. According to a regulatory filing in November, CJ ENM reported operating profit of 17.6 billion won ($12 million), up 11 percent year-on-year. The company also entered a strategic partnership with WBD to jointly produce K-content — a move that gained added significance as WBD later emerged as a potential acquisition target for Netflix. Attention also briefly turned to a proposed merger between domestic streaming platforms TVING and WAVVE, viewed by some as a counterweight to global players. The process, however, stalled due to opposition from key shareholder KT, which cited concerns about potential damage to its IPTV business. With a merger now likely pushed into 2026, the two platforms have pursued merger-level cooperation — including a joint subscription package and integrated advertising platform — even as they continue to stress the urgency of competing with Netflix. 2025-12-15 17:03:12

Snowfall delights winter sports enthusiasts SEOUL, December 15 (AJP) - Heavy snowfall blanketed the mountainous regions of Gyeonggi and Gangwon in South Korea over the weekend, drawing crowds of citizens to local ski resorts. Visitors capitalized on the fresh powder, engaging in popular winter sports like skiing and snowboarding to fully embrace the season. 2025-12-15 16:58:00

FM offers condolences to victims of shooting rampage in Sydney SEOUL, December 15 (AJP) - Foreign Minister Cho Hyun expressed condolences to the victims and their families of a shooting rampage in Sydney, Australia over the weekend. "I am deeply saddened by the tragic loss of lives in the terrorist attack at Bondi Beach," Cho wrote on X on Monday, adding, "I extend my heartfelt condolences to the victims, their families, and the people of Australia." Cho stressed that terrorism is an "inhumane, anti-civilization crime that cannot be justified under any circumstances," assuring that South Korea "stands with Australia during this difficult time." The shooting rampage occurred on Sunday at a Jewish community event at Bondi Beach, a popular tourist spot in eastern Sydney, killing 16 people. The suspects, identified as a father and son, were involved, with the father killed at the scene. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 16:43:55

Lee, Laotian president agree to strengthen bilateral partnership SEOUL, December 15 (AJP) - President Lee Jae Myung met with visiting Laotian President Thongloun Sisoulith in Seoul on Monday. During their summit at the presidential office in Yongsan, Seoul, the two leaders agreed to elevate their bilateral relationship to a comprehensive partnership, as the two countries mark 30 years of diplomatic relations. "Trade and investment have grown remarkably since 1995, with bilateral trade increasing 20-fold," Lee said, adding that mutual visits reached a record high last year. Lee emphasized South Korea's role as a key partner for Laos while highlighting Laos' importance to Seoul's efforts for ASEAN and Mekong cooperation. Lee also praised Laos' rich natural resources and called for cooperation in building a mineral supply chain, while pledging support for the country's development as a transport hub under Thongloun's leadership. Sisoulith expressed hope for strengthened bilateral relations and requested South Korea's continued support for Laos' development. Following the summit, the two sides signed multiple memorandums of understanding (MOUs) on combating transnational crimes including online scams and phishing schemes, as well as labor-related agreements for foreign workers here. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 16:12:59

Samsung Heavy secures key certification for 'floating nuclear reactor' design SEOUL, December 15 (AJP) - Samsung Heavy Industries said on Monday it has received preliminary certification for its floating nuclear power platform equipped with small modular reactors, marking a key step in its push into the emerging maritime nuclear energy market. The American Bureau of Shipping (ABS) granted Approval in Principle (AIP) for Samsung Heavy’s Floating Small Modular Reactor (FSMR) design, which incorporates two SMART 100 reactors developed by the Korea Atomic Energy Research Institute (KAERI), the company said. The SMART 100 is a 100-megawatt integrated small modular reactor that received standard design approval from South Korea’s Nuclear Safety and Security Commission in September 2024. Under the project, Samsung Heavy integrated the SMR technology with a floating structure. It carried out the overall design of the nuclear power facility and developed a multi-barrier reactor containment system, while KAERI modified the reactor design for maritime use. Ahn Young-kyu, head of Samsung Heavy’s technology development division, described the certification as a “significant milestone” in the company’s efforts to pioneer the maritime nuclear power sector. “We will continue to secure safe and economical maritime nuclear technologies by leveraging our expertise in floating structures,” Ahn said in a press release. Samsung Heavy said the FSMR is a flexible floating nuclear facility concept capable of accommodating different SMR types. Its compartment-based design allows the reactor section to be adapted without altering the overall platform structure, improving scalability and construction efficiency. Safety and efficiency are further enhanced by housing the reactor and key safety systems within a single containment module, enabling land-based testing before offshore installation, the company said. Cho Jin-young, director of KAERI’s Advanced Reactor Research Division, said the approval validated the competitiveness of South Korea’s SMR technology. “This AIP certification using SMART 100 demonstrates the innovation of our nuclear technology,” Cho said. “We will accelerate development to establish South Korea as a leader in the marine nuclear industry.” * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-15 15:47:59