Former PM sentenced to 23 years in prison over martial law involvement SEOUL, January 21 (AJP) - Former Prime Minister Han Duck-soo was sentenced to 23 years in prison on Wednesday for his involvement in disgraced former President Yoon Suk Yeol's botched martial law debacle in December 2024. In a nationwide televised trial, the Seoul Central District Court in southern Seoul handed down the sentence, ruling that the Dec. 3 declaration of martial law constituted an insurrection. The court said, ", as prime minister, had a duty to comply with the Constitution, uphold laws and democratic values, and take every effort to protect them." The court added, "Despite this, he neglected his duties and chose to take part in the debacle, thinking it could succeed." It also warned that Han's actions could have risked returning the country to its "darkest past," when democracy and civil rights were suppressed under authoritarian and military rule. The court further criticized Han for hiding and fabricating documents to make the martial law declaration appear lawful, despite his responsibility to uncover the truth and take accountability for the short-lived, late-night fiasco. The punishment was heavier than the 15 years prosecutors sought at Han's final hearing in November last year, who had accused him of aiding Yoon's martial law bid rather than preventing it, despite his duty to check abuses of presidential power. Han denied all allegations, claiming he had no prior knowledge of the debacle and never agreed with or aided it, even after becoming aware of it. Wednesday's ruling is expected to have implications for Yoon's own trial on charges of insurrection and abuse of power, with a verdict likely to be handed down next month. 2026-01-21 15:20:24

Nomura flags heavy US investment burden for Samsung Electronics, SK hynix SEOUL, January 21 (AJP) - Samsung Electronics and SK hynix may need to invest between 100 trillion won and 120 trillion won ($74–89 billion) in the United States from 2027 to 2030 to secure tariff exemptions, according to a new analysis by Nomura Securities. That would translate into annual investment of about 25 trillion won to 30 trillion won, or roughly a quarter of the two companies’ combined annual memory chip capital expenditure, estimated at 120 trillion won to 140 trillion won, the report said. Nomura said tariff-exemption terms agreed between the United States and Taiwan are likely to be applied similarly to South Korea, making expanded U.S. investment by Korean memory chipmakers difficult to avoid. Under arrangements reached during the Trump administration, Taiwanese companies building new semiconductor production facilities in the United States can receive tariff exemptions covering imports of up to 2.5 times their production capacity while construction is under way. After a facility is completed, imports of up to 1.5 times the new capacity can be exempted from tariffs. Nomura noted that Samsung has already committed about $37 billion (54.4 trillion won) to U.S. foundry investments, while SK hynix has invested roughly $3.9 billion (5.7 trillion won) in U.S. packaging facilities. However, the brokerage said those investments are unlikely to be sufficient to fully secure tariff exemptions. The report said the companies may need to expand memory production capacity in the United States, potentially at the expense of planned investment in South Korea. Nomura estimated that, due to higher labor and operating costs, production costs at U.S.-based memory plants would be at least 40 percent higher than in South Korea. “The ultimate impact on profitability depends on the supply-demand environment,” it said, adding that under similar conditions, higher costs are likely to be passed on to end customers. Assuming operating profit margins for Korea-based production remain as high as 70 percent during a supply shortage, Nomura estimated margins at U.S. facilities could reach up to 58 percent. On a consolidated basis, that would imply overall margins in the mid-to-high 60 percent range. Nomura said uncertainty over tariffs could weigh on share prices in the short term. However, if the memory supercycle continues through at least 2027, the negative impact from additional U.S. investment is likely to be limited in the short to medium term. The long-term impact would also remain contained if chipmakers maintain disciplined capital spending and solid profitability, it added. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-21 15:17:20

Modern interpretation of ancestral ritual dance wins award in New York SEOUL, January 21 (AJP) - "One Dance," a contemporary interpretation of South Korea's royal ancestral ritual presented by the Sejong Center for the Performing Arts, won an award in New York on Tuesday. It won the New York Dance and Performance Awards, also known as the Bessie Awards, which annually honor outstanding achievements by independent dance artists. Choreographers Jung Hye-jin, Kim Seong-hun, and Kim Jae-deok, who collaborated on the modern adaptation of a ceremonial dance from Jongmyo Jeryeak, shared the honor with three other winners selected from 12 nominees. The work was praised for its "visually captivating" choreography, striking a perfect balance of stillness and movement. Jung said, "'One Dance' reflects the spirit of people who endured together with one heart toward a single goal," adding that the award was the result of the time and effort that many people devoted to the project. 2026-01-21 15:06:10

Korean won rebounds after president signals KRW–USD range SEOUL, January 21 (AJP) - The Korean won, which briefly revisited the perceived government defense line of 1,480 per dollar before markets opened Wednesday, rebounded sharply after President Lee Jae Myung publicly referred to a specific range for the exchange rate. During a televised New Year’s press conference, Lee addressed the won’s prolonged weakness, noting that the depreciation was not “a uniquely Korean phenomenon” but reflected broader geopolitical and global currency trends. Some market participants have described the won’s recent level around 1,470 per dollar as a “new normal,” Lee said. He added that if the Korean currency were strictly moving in line with the Japanese yen against the dollar, it would be trading closer to 1,600 won. Lee said authorities are continuing to explore measures to stabilize the currency, adding that officials expect the dollar-won rate to fall toward the 1,400 range within one to two months, though he did not specify the basis for the forecast. The president’s reference to a specific range had an immediate impact on the market. The dollar fell 11.1 won to 1,468.7 won in afternoon trading. “If there had been a quick fix, we would have already used it,” Lee said. “The government is implementing many useful policies that it can. But at the end of the day, the market is determined by supply and demand.” The won averaged a record-low 1,423.32 per dollar last year and has remained under pressure since the start of this year amid strong global demand for U.S. assets and lingering uncertainty over South Korea’s foreign exchange outlook. Concerns have also persisted over Seoul’s commitment to invest $350 billion in the United States under a sweeping tariff agreement with Washington. While the pledge has eased trade tensions, uncertainty over how the government will deliver the roughly $20 billion in annual funding has weighed on the local foreign-exchange market, according to a trader at SK Securities. U.S. officials are expected to visit Seoul as early as next month or in March to discuss the details of the investment framework, the trader said. 2026-01-21 14:59:53

Incheon signs MOU with U.S. Kessler Collection for I-CON City project in Cheongna SEOUL, January 21 (AJP) - Incheon City on Wednesday signed a memorandum of understanding with U.S. hospitality company The Kessler Collection and Korea Land and Housing Corporation (LH) to jointly pursue a $1.4 billion culture and tourism complex in Cheongna International City. The agreement was signed at Incheon City Hall by Incheon Mayor Yoo Jeong-bok, Richard C. Kessler, chairman and founder of The Kessler Collection, and Kang Oh-soon, head of LH’s Regional Balanced Development Headquarters. The project, dubbed the Cheongna Culture and Tourism Complex, or I-CON City, is planned on a 260,000-square-meter site in Cheongna-dong, Seo-gu, Incheon. The development will integrate cultural, tourism, business and residential functions, according to the city. Planned facilities include hotels, resorts and condominiums, as well as museums, a content tower, VFX studios, a K-pop arena, officetels, senior housing and public parks. The project will involve strategic investors including The Kessler Collection, Daol Asset Management, Cheongna Icon City, which is to be established, and Galaxy Corporation. SK Securities will participate as a financial investor, while Posco E&C will take part as the construction company. The total project cost is estimated at 1.9867 trillion won ($1,353 million), with an initial investment of 633.1 billion won planned for 2027 and 2028, according to the city. The Kessler Collection and Daol Asset Management will each invest 30 billion won, holding 30 percent stakes apiece. Kessler Korea and SK Securities will each contribute 12.5 percent stakes, while Posco E&C will invest for a 10 percent stake and Galaxy Corporation for a 5 percent stake. With support from the Incheon Free Economic Zone (IFEZ), the IFEZ Authority will provide administrative support, including assistance with approvals and foreign investment-related procedures, in accordance with relevant laws and regulations. Founded in 1984, The Kessler Collection is a U.S. hospitality firm headquartered in Orlando, Florida, specializing in the development and operation of hotels, resorts and restaurants. The company operates a portfolio of boutique hotels and resorts across major U.S. cities. “I-Con City not just stands for Incheon Contents, but also reflects our vision to create an iconic landmark in the Korean gateway,’” Kessler said. “It is going to be quite an interesting experiment of intermingling of technology, culture, and creativity... one that I think will uncover opportunities that developers may not have identified in the past.” Mayor Yoo echoed the sentiment, saying, “The Kessler Collection’s investment in Cheongna International City will serve as an important catalyst for building Incheon’s cultural and arts ecosystem,” adding that the city will continue to closely coordinate with relevant agencies and companies to advance the project steadily. 2026-01-21 14:51:56

New catalyst design boosts hydrogen efficiency while cutting costs SEOUL, January 21 (AJP) - Researchers in South Korea have developed a new structure for catalysts that significantly reduces the amount of expensive precious metals required for hydrogen production and fuel cells. A team led by Professor Cho Eun-ae from the Department of Materials Science and Engineering at the Korea Advanced Institute of Science and Technology (KAIST) announced on January 21 that they have successfully created ultra-thin nanosheets that outperform traditional particle-based catalysts. Catalysts are essential for splitting water to create hydrogen and for generating electricity in fuel cells. However, the industry relies heavily on iridium and platinum, rare metals that are prohibitively expensive and prone to degradation over time. Current commercial catalysts use these metals in the form of small particles, which often clump together, reducing their effectiveness and limiting their lifespan. To address this, the research team abandoned the traditional granular form in favor of a sheet-like structure. By flattening the catalyst material into ultra-thin layers—thousands of times thinner than a human hair—the researchers created a structure that exposes much more surface area to the chemical reaction. This allows the system to generate more hydrogen or electricity using a smaller amount of precious metal. The new structure also solved a longstanding engineering challenge regarding support materials. Titanium oxide is a durable and inexpensive material, but it is rarely used to support catalysts because it does not conduct electricity well. The researchers found that when the new nanosheets are layered over titanium oxide, the sheets themselves connect to form a conductive path. This allows the stable titanium oxide to support the catalyst without impeding the flow of electricity. When applied to water electrolysis for hydrogen production, the new iridium nanosheet catalyst improved production speed by 38 percent compared to commercial catalysts. It achieved this performance while reducing the amount of iridium used by 65 percent. The system remained stable for over 1,000 hours under high-load conditions similar to industrial settings. The team applied the same design strategy to fuel cells using a platinum-copper alloy. The resulting catalyst demonstrated high durability and efficiency. In fuel cell tests, the platinum-copper nanosheets showed a 13-fold increase in performance per mass of platinum compared to commercial options. The fuel cell performance increased by roughly 2.3 times. Furthermore, the catalyst maintained 65 percent of its initial performance even after a rigorous durability test of 50,000 cycles, proving it to be far more durable than existing alternatives. This was achieved while reducing platinum usage by 60 percent. "We have presented a new catalyst structure that can simultaneously improve hydrogen production and fuel cell performance while using significantly less expensive precious metals," said Professor Cho Eun-ae. "This research will be a turning point in lowering the cost of hydrogen energy and accelerating commercialization." The research was supported by the Energy Human Resources Development Program of the Korea Institute of Energy Technology Evaluation and Planning, and the Nano and Material Technology Development Program of the National Research Foundation of Korea. (Paper information) Journal: ACS Nano (Impact Factor: 16.0) Title: Ultrathin Iridium Nanosheets on Titanium Oxide for High-Efficiency and Durable Proton Exchange Membrane Water Electrolysis DOI: https://doi.org/10.1021/acsnano.5c15659 (Paper information) Journal: Nano Letters (Impact Factor: 9.6) Title: Ultrathin PtCu Nanosheets: A New Frontier in Highly Efficient and Durable Catalysts for the Oxygen Reduction Reaction DOI: https://doi.org/10.1021/acs.nanolett.5c04848 2026-01-21 14:43:32

Jeju Air bans in-flight use of portable battery packs SEOUL, January 21 (AJP) - South Korean low-cost carrier Jeju Air said on Wednesday it will ban the use of portable battery packs on board its aircraft starting Jan. 22, citing the risk of lithium-ion battery fires. The measure applies to all passengers on domestic and international flights and prohibits using portable battery packs to charge devices such as mobile phones and tablet computers during flights. Under existing transport ministry guidelines, charging portable battery packs and electronic cigarettes on board is already prohibited. Jeju Air said it is going a step further by banning in-flight use of battery packs entirely to further reduce fire risks. The airline said it will post notices on its website and provide advance alerts via KakaoTalk notifications and during self-service kiosk check-in. Airport check-in counters will also inform passengers of the new restriction. Jeju Air said it has strengthened safety measures related to lithium batteries over the past year. The airline has carried fire-suppression pouches on board since February last year and, under enhanced government safety standards, has required passengers since March to take short-circuit prevention measures and keep battery packs on their person or in a visible location during flights. In August, the airline added temperature-sensitive stickers to overhead storage bins. The carrier also said it has immediately disposed of found items involving lithium batteries, including portable battery packs and e-cigarettes, since February last year. Since April, it has banned wireless hair straighteners from being carried on board due to concerns over excessive heat generation. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-21 14:01:54

Com2uS baseball games top 1 trillion won in cumulative revenue SEOUL, January 21 (AJP) - South Korean game developer Com2uS said on Wednesday that cumulative revenue from its baseball game titles has exceeded 1 trillion won ($750 million). The company attributed the milestone to the expansion of its lineup of officially licensed baseball titles tied to major leagues including the Korea Baseball Organization (KBO) and Major League Baseball (MLB), beginning with the 2015 launch of Com2uS Pro Baseball 3D. Com2uS cited steady growth in user engagement, saying monthly active users last year peaked at more than 2.6 million, over six times the level recorded in 2015. Average annual revenue growth over the past three years stood at around 30 percent, the company said. The franchise’s longevity has been supported by increasingly detailed content and strengthened live operations, the company said. It has closely reflected real-world player data, records and play styles, while refining controls and presentation for hitting, pitching and defense to improve gameplay realism. Com2uS also said it has reinforced season-linked events and offseason content while continuously adjusting progression balance between new and existing users. The company tied the expansion of its baseball games to overseas growth. It began a global push in 2016 with MLB 9 Innings 16, followed by Com2uS Pro Baseball V in 2022 and MLB Rivals in 2023. In 2025, it expanded into Japan with the Nippon Professional Baseball-licensed Pro Baseball Rising. Com2uS said it plans to enhance update quality in line with league seasons this year and expand content marking the 10th anniversary of MLB 9 Innings, using differentiated strategies for each title to sustain growth. “We have built a structure in which baseball games continue to grow, based on nearly a decade of development and live operations know-how,” said Hong Ji-woong, head of production at Com2uS. 2026-01-21 13:53:45

Hanwha Ocean wins $550 million orders for 2 LNG carriers SEOUL, January 21 (AJP) - Hanwha Ocean has secured new liquefied natural gas (LNG) carrier orders, adding to a solid start to the year as the South Korean shipbuilder focuses on high-value vessels. In a regulatory filing on Wednesday, the company said it signed shipbuilding contracts for two LNG carriers with a total value of 738.3 billion won ($550 million). The vessels will be delivered sequentially, though no timetable was disclosed. Including the latest contracts, Hanwha Ocean’s year-to-date order intake stands at five vessels — three very large crude carriers and two LNG carriers — worth about $890 million. That compares with a single VLCC order in January last year. The company said it expects replacement demand for aging vessels to continue over the medium to long term as environmental regulations tighten globally and fuel-efficiency requirements become more stringent. Hanwha Ocean also forecast sustained demand for LNG carriers as the development of LNG export terminals, led by the United States, enters a full-scale phase. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-21 13:45:30

KOSPI recovers early losses, buoyed by surge in foreign buying SEOUL, January 21 (AJP) - South Korean stocks reversed early losses Wednesday morning, buoyed by strong foreign buying and a sharp rebound in the won, even as global markets remained cautious amid lingering trade uncertainty from U.S. President Donald Trump's tariff pressures. As of 10:40 a.m., just a few hours into the day's trading, the benchmark KOSPI was up 0.43 percent at 4,907.1, rebounding from an earlier 0.6 percent decline. The KOSPI 200 rose 0.9 percent to 715.3, signaling renewed demand for large-cap stocks, while the tech-heavy KOSDAQ fell 2.5 percent to 952.6, showing a widening divergence between blue chips and growth-oriented shares. Foreign investors drove the turnaround with net purchases of 435.6 billion won ($320 million) on the KOSPI, joined by institutions at 71.5 billion won. But retail investors sold 570.6 billion won. On the junior KOSDAQ, foreigners and institutions sold while individuals bought. The won's sharp recovery shaped market sentiment. Strengthening to 1,472.8 per dollar, a gain of 7 won, or 0.5 percent, the currency eased pressure and helped stabilize the day's volatile start. Investor confidence was further bolstered by remarks from President Lee Jae Myung, who said he would seek to ease concerns over foreign-exchange volatility. "If there were extraordinary measures needed to stabilize the currency, they would already be in place," Lee said during a press conference earlier in the day. He also said he believes the won's exchange rate against the greenback could return to the 1,400-won range within one to two months. Auto-related stocks led the early rebound, benefiting from both currency moves and heavy foreign inflows. Hyundai Motor surged 10.2 percent to 528,000 won and Kia jumped 4.7 percent to 171,600 won. Chip stocks remained strong, with Samsung Electronics climbing 3 percent to 149,600 won and SK hynix rising 0.9 percent to 751,000 won, supported by optimism over artificial intelligence-driven demand. But not all sectors joined the rally. Energy and infrastructure shares lagged, with Doosan Enerbility falling 3.2 percent to 92,200 won on profit-taking. Portals also underperformed, as NAVER slipped 1.6 percent to 240,000 won. Elsewhere in Asia, sentiment remained cautious. Japan's Nikkei 225 fell 0.4 percent to 52,785.8, as optimism over an impending snap election and tax relief proposals was overshadowed by U.S. trade concerns. 2026-01-21 11:46:05