Chipmaking Team Korea joins OpenAI's $500 Billion AI initiative SEOUL, October 01 (AJP) - South Korea’s chipmaking giants Samsung Electronics and SK hynix have signed a preliminary agreement with OpenAI to join the $500 billion “Stargate” initiative aimed at proliferating next-generation AI data centers worldwide. Under the letter of intent, Samsung and SK hynix are prepared to commit as much as 8 trillion won ($6 billion) a month to the project, which is co-led by SoftBank and Oracle. The partnership extends beyond memory supply to include affiliates Samsung SDS, Samsung C&T, Samsung Heavy Industries, and SK Telecom. The Korean suppliers will provide high-performance, low-power semiconductors such as high-bandwidth memory (HBM). Samsung Electronics, the world’s top memory maker, has the capacity to produce up to 650,000 wafers monthly, while SK hynix dominates the HBM market as the chief supplier to Nvidia. OpenAI has requested a monthly supply of up to 900,000 DRAM wafers—more than double the world’s current HBM output capacity. If finalized, the deal would mark the largest semiconductor contract in South Korean history. The agreement was signed by Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, and OpenAI CEO Sam Altman at SK’s Seorin headquarters in central Seoul. Altman is expected to return later this month for the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, joining Nvidia CEO Jensen Huang and Apple CEO Tim Cook. President Lee Jae-myung also met with Altman on Wednesday to discuss bilateral cooperation in AI transformation and ecosystem development. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 21:38:58

Malaysia targets 47 million visitors in 2026 tourism push KUALA LUMPUR, October 01 (AJP) - Malaysia unveiled an ambitious target to draw 47 million international visitors in 2026 at the opening of Global Travel Meet 2025, a three-day summit focused on sustainable tourism development and industry partnerships. The event, running from Oct. 1 to 3 at the World Trade Centre Kuala Lumpur, seeks to bolster Malaysia's standing as a premier travel destination while building momentum for Visit Malaysia 2026, the country's major tourism campaign. Deputy Minister of Tourism, Arts and Culture Datuk Khairul Firdaus Akbar Khan inaugurated the gathering following a traditional Malaysian dance performance, emphasizing the event's significance beyond the nation's borders. "Global Travel Meet 2025 is more than just an event; It is a platform where ideas are transformed into action," Khairul Firdaus said, describing the summit as a catalyst for driving collective government and industry efforts toward the 2026 goals. The exhibition floor bustled with multinational booths displaying an array of products, from traditional sparkling rice wine to double-decker tram buses with open-air second stories, as buyers and sellers converged to explore business opportunities. Tourism Malaysia hosted a welcome dinner at the five-star Sunway Resort Hotel, where Minister of Tourism, Arts and Culture Dato Sri Tiong King Sing addressed guests on the strategic importance of tourism partnerships. Tiong King Sing highlighted Malaysia's commitment to advancing tourism as a cornerstone of national development while championing sustainability, inclusivity and innovation across the sector. The minister said the gathering would facilitate knowledge exchange and collaborative growth while reinforcing a shared commitment to building a resilient and forward-looking tourism landscape. 2025-10-01 17:28:54

Korean retailers double down on SE Asian foray amid weak demand at home SEOUL, October 1 (AJP) - Faced with lengthy depression in domestic demand at home, Korean retailers have been aggressive in their outreach and expansion in the Asian market, riding on the popularity of Korean contents and food. Pivot Asia has become the common strategy for Korean retailers spanning from fashion houses to convenience stores. Lotte Shopping is accelerating its overseas business with 'Lotte Mall Westlake Hanoi', based in Hanoi, Vietnam. Since opening two years ago, the outlet has drawn 25 million visitors, generated 600 billion won (more than $420 million) in sales, established itself as a community landmark. About 800 international tourist buses bringing visitors here every month, including many Chinese tourist groups, making Lotte Mall considered to have risen to become a "super mall" beyond Vietnam. The retailer has recently added a SPA for the affluent. By attracting F&B brands, holding more than 150 large-scale pop-ups, and localizing the VIP system, it has established the 'standard of K retail.' Based on this, it is renewing existing bases such as Ho Chi Minh City, Vietnam, and Jakarta, Indonesia, and is also working to secure new sites. Shinsegae Group is readying inroads to the Southeast Asian market through a joint venture (JV) with Alibaba. The first 5 countries targeted include Vietnam, Singapore, Thailand, the Philippines and Malaysia. In line with the K-content craze, the idea is to support domestic sellers to secure competitiveness on the global stage. Online retailer G-Market has teamed up with 'LAZADA', a leading e-commerce platform in Southeast Asia. It has linked about 20 million products and started selling to 160 million local customers. Korean sellers can apply the existing sales method as it is, making it highly accessible, while taking advantage of the automatic translation function to reduce language barriers. Big-box store chain E-Mart operates 5 and 3 stores in Mongolia and Vietnam, respectively. It has opened 16 'No Brand' stores in the Philippines and 3 in Laos. E-Mart said it is in discussions with partners about continuing to scale up and enhance its business model. Convenience stores, which closed about 100 outposts in Korea, are eager to make amends overseas. GS25 is expanding its presence by operating hundreds of stores in Malaysia, Mongolia, and Kazakhstan. In addition, E-Mart 24 exceeded 100 stores in 4 years after entering Malaysia. It has entered major cities in 11 local states, and aims to reach 130 stores by the end of this year and 200 stores by 2026. Southeast Asia and India pose as promised land with young population, rapidly growing middle class and increased spending power. The global popularity of Korean food and contents also add to the favorable environment for Korean brands. "The distribution infrastructure in Southeast Asia is still limited," one industry watcher said, adding that the growth potential nevertheless is huge. The market is opportune for Korean retailers with their richer experience and brand recognition. 2025-10-01 17:22:40

Concert for Peace 2025 brings global musicians together in Seoul SEOUL, October 01 (AJP) - The Concert for Peace 2025 took place on September 30 at Youngsan Art Hall in Seoul, with musicians from several countries performing together to highlight the role of culture in building dialogue. This was the third edition of the series, which began in Hiroshima and Osaka, and has become a platform for showing how music can cross borders and speak to shared human values. At the heart of the event was the Child Citizen Orchestra, founded in 2006 by Brazilian Judge João Targino. The orchestra was created to give underprivileged youth in Brazil access to musical training while also providing paths to inclusion and social development. Over the past two decades, it has reached more than 1,000 young people, and its international tours have carried a message that music can be a tool of both personal growth and cultural diplomacy. Brazilian Ambassador to South Korea Márcia Donner Abreu, speaking at the concert, called the orchestra’s journey "an inspiring example of how culture can foster solidarity among peoples." She noted that the Seoul performance was especially symbolic because it included young musicians from South and North Korea, Russia, Ukraine, Israel, and Iran. "By coming together, you show us that music is more than performance — it is a common language for mutual understanding," she said. Judge Targino, who opened the evening, described the concert as a "roadmap of hope." He said war is "the failure of humanity itself" and stressed that music can remind people of the need to overcome divisions. He thanked his wife, Mirina, and Ambassador Abreu for their support, and recognized the cooperation of the Ministry of Unification of South Korea and other partners who made the event possible. 2025-10-01 17:08:28

Hotels in flurry of preparations ahead of APEC summit in Gyeongju SEOUL, October 1 (AJP) - As the Asia-Pacific Economic Cooperation (APEC) summit in South Korea comes just around the corner, accommodation arrangements for leaders and heads of state have become a point of contention. With both U.S. President Donald Trump and Chinese President Xi Jinping expected to attend, the historic city of Gyeongju is drawing attention as it prepares to host the multilateral gathering from Oct. 31 to Nov. 1. Recently, Hotel Shilla asked customers to cancel reservations during the period around the summit, suggesting that Xi might stay there during his visit to Seoul and possibly meet with Trump. In mid-September, China reportedly inquired with the hotel about making a booking. Initially it was expected that the two leaders would stay at separate hotels during the summit, with Trump at Grand Hyatt in Seoul and Hilton in Gyeongju, and Xi considering Hotel Shilla in Seoul and Kolon Hotel in Gyeongju. But Hotel Shilla later resumed bookings during the period, suggesting possible disagreement in arranging talks between Trump and Xi. There have been talks of a possible trilateral meeting between the leaders of South Korea, China and the U.S. in Seoul on the sidelines of the APEC summit, but it now remains uncertain as Xi is likely to stay only in Gyeongju. The Ministry of Foreign Affairs said, "Details about Xi's itinerary here are not finalized," and merely said it supports diplomatic exchanges among APEC members. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 17:02:48

Samsung Elec's watershed tri-fold display to share APEC spotlight SEOUL, October 01 (AJP) - Samsung Electronics will seize the global stage of the Asia Pacific Economic Cooperation (APEC) summit in South Korea to unveil the world’s first tri-fold smartphone. Tentatively named the Galaxy G Fold, the device features a 9.96-inch infolding display, up to 16 gigabytes of RAM, and as much as 1 terabyte of storage, according to market sources. It runs on Qualcomm’s Snapdragon 8 Elite chipset and comes with a 200-megapixel main camera, alongside telephoto and ultrawide lenses. The battery capacity is estimated at under 5,000 milliamp-hours—smaller than Huawei’s Mate XT launched in September with a 5,600 milliamp-hour cell—as Samsung opted for thinness over size. The phone supports “Split Trio” multitasking, enabling three apps to run simultaneously, and introduces a revamped cover screen mirroring function. Initial shipment is expected at about 50,000 units, with a limited rollout in South Korea and China later this year. Pricing is likely to hover near $3,000, well above current foldables, though Samsung has yet to confirm final details. The debut comes as Samsung’s chip and smartphone leadership faces mounting competition at home and abroad. By aligning its showcase with APEC—where U.S. and Chinese leaders will gather alongside tech executives from Nvidia and OpenAI—Samsung is blending its traditional Galaxy Unpacked strategy with high-level diplomacy. Rivals are also stepping up in the foldables race. Huawei unveiled its second-generation Mate XT last month, while Motorola and Oppo have launched new models this year. Xiaomi is preparing another flip design for release later in 2025. Market reaction so far has been mixed. Enthusiasts on Reddit praised multitasking upgrades but voiced concerns over battery life and the hefty price tag, noting foldables remain a niche compared with mainstream smartphones. 2025-10-01 16:57:36

From BTS to global idol incubator: HYBE's next chapter Editor's Note: This article is the 38th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, October 1 (AJP) - HYBE, the Korean entertainment powerhouse behind BTS, has become a defining force in the global music industry. What began as Big Hit Music under founder Bang Si-hyuk has grown into a multi-label empire that not only produces K-pop superstars but also manages an expanding portfolio of international talent. HYBE's story begins with Bang, a former JYP Entertainment producer nicknamed "Hitman" Bang for his hit-making record. In 2005, he launched Big Hit Music with the vision of nurturing artists who could tell authentic stories through music. That philosophy culminated in the debut of BTS in 2013, a group that distinguished itself by addressing social issues and the struggles of youth in its lyrics while showcasing the polished performances of Korea's idol system. Though BTS did not achieve instant stardom, their 2015 release "The Most Beautiful Moment in Life, Pt. 1" propelled them to prominence and transformed Big Hit Music from a little-known agency into a rising K-pop force. A global empire under HYBE In 2021, Bang rebranded the company as HYBE under the mission "We believe in music." Big Hit Music remains a core label, now joined by Pledis Entertainment (Seventeen), Source Music (LE SSERAFIM), and ADOR (NewJeans), among others. With BTS on a two-year hiatus for mandatory military service, HYBE has used the time to broaden its global reach, exporting its distinctive idol training and fan engagement model. "HYBE will lead the paradigm of the global music industry, continuing to create innovations that connect artists and fans," said CEO Lee Jae-sang. "We will optimize our artist portfolio both in Korea and abroad, strengthen our presence in the global music market, and pursue sustainable long-term growth." In Japan, HYBE launched &TEAM through the "&Audition" project. In the U.S., it debuted KATSEYE, a girl group formed through a global audition program that has already posted strong streaming numbers and is preparing for its first world tour. Similar ventures are underway in Latin America and China, while a new Indian headquarters plans nationwide auditions to tap into the country's 1.46 billion population. This "glocalization" strategy aims to blend HYBE's proven K-pop system with local cultural identities. Financial strain without BTS Still, the absence of BTS has weighed on HYBE's bottom line. In the second quarter of 2025, the company reported record revenue of 705.6 billion won ($520 million), up 10.2 percent year-on-year, with operating profit rising 29.4 percent to 65.9 billion won. Yet in 2024, despite posting its highest-ever annual revenue of 2.2 trillion won ($1.6 billion), operating profit tumbled 38 percent to 184.8 billion won, squeezed by BTS's hiatus and heavy investments in KATSEYE and HYBE Latin America. Comeback hopes fuel investor confidence The anticipated return of BTS is already lifting investor sentiment. HYBE shares closed at 268,000 won on Wednesday, up nearly 58 percent from 170,100 won a year earlier, and 14 percent higher than six months ago. Analysts attribute the rally to both the group's looming comeback and early signs of success from HYBE's localized groups. Industry watchers expect the return of BTS to spark record-breaking tours and album sales, potentially surpassing even the group's past milestones. The comeback is widely seen as a watershed moment for both HYBE and the global K-pop industry. "I remain optimistic about HYBE's stock outlook for next year," said Kim Min-young, media analyst at Meritz Securities. "Next year will be when results start to show in the numbers." 2025-10-01 16:57:23

PHOTOS: October brings burst of color to Korea's landscapes SEOUL, October 01 (AJP) - The Korean Peninsula is undergoing a dramatic seasonal transition, as October ushers in the full splendor of autumn. Across South Korea, the landscapes are beginning to transform, with mountains and fields now donning the brilliant, kaleidoscopic hues of fall foliage and late-season flowers. This annual display of natural beauty coincides with a palpable sense of anticipation among the public. Excitement is building nationwide as people prepare for the long Chuseok holiday. For many Koreans, the vibrant shift in the scenery provides a picturesque backdrop for the approaching festive break, marking a time for reflection, travel, and traditional gatherings. 2025-10-01 16:48:52

Korean shipbuilders out to defend LNG dominance as orders revive SEOUL, October 01 (AJP) - Korean shipbuilders have dominated the global orderbook for liquefied natural gas (LNG) carriers this year, securing 14 out of 16 new orders and leaving none for Chinese rivals despite an overall market slowdown. The global LNG market has long been split between Korea and China, with Korea’s lead appearing at risk until last year. But Korean yards have pulled ahead again in 2025, buoyed by shifts in demand and trade policies. China’s slowdown is partly explained by new U.S. protectionist fees and weaker orders from Qatar, a major client for Chinese builders. Beginning October 14, the U.S. Trade Representative will impose a $50-per-net-tonnage fee on Chinese-built, -operated, or -flagged vessels docking in U.S. ports. Safety concerns have also weighed on Chinese yards. In 2023, the CESI Qingdao, an LNG carrier built by Hudong-Zhonghua Shipbuilding, suffered a generator failure at an Australian terminal, disrupting operations. The broader shipbuilding market contracted in the first half, with global order volume falling 55 percent year-on-year. Orders for LNG carriers plunged 83 percent to 1.05 million compensated gross tonnage (CGT). But momentum has shifted in the second half, with major energy companies preparing fresh investments. Australian producer Woodside Energy is in talks with shipyards on 16 to 20 LNG carriers, while U.S. firm Sempra has approved a $14 billion LNG project that could generate up to 20 carrier orders. Korean shipbuilders are already seeing results. Hanwha Ocean announced a $251 million order from a North American shipowner this week and forecast stronger earnings for the rest of the year. “Hanwha Ocean is positioned to substantially build up its capacity to construct LNG carriers in the United States by securing unparalleled technology and supply dominance,” said Oh Jun-ho, an analyst at Stunning Value Research, predicting the company could achieve 1 trillion won ($710 million) in operating profit this year. Samsung Heavy Industries also struck an optimistic tone, noting that “LNG carrier orders will remain robust as the Trump administration resumes export approvals for non-FTA countries and new final investment decisions accelerate.” 2025-10-01 16:21:56

Trump open to Kim talks "without preconditions" as North Korea intensifies outreach SEOUL, October 01 (AJP) - The White House said on September 30 that U.S. President Donald Trump remains open to talking with North Korean leader Kim Jong-un "without any preconditions," a move that has fueled speculation about renewed summitry when Trump travels to South Korea later this month for the Asia-Pacific Economic Cooperation (APEC) summit. Responding to a question about whether Trump might seek a meeting with Kim during his visit to the southeastern city of Gyeongju on October 31~November 1, a White House official said: "President Trump remains open to talking with Kim Jong-un without any preconditions. U.S. policy on North Korea has not changed." The official also highlighted that Trump’s earlier meetings with Kim "stabilized the Korean Peninsula." It is the first time in Trump's second term that Washington has publicly stated it does not require conditions for renewed dialogue. The announcement comes as Pyongyang has taken a noticeably warmer line toward Washington. On September 21, Kim told the Supreme People's Assembly that he saw no future for unification with South Korea, calling it a "U.S.-dependent colony," but added he was open to talks with the United States if Washington set aside its denuclearization demand. His remarks underscored a clear split in Pyongyang’s approach: shutting the door on inter-Korean dialogue while signaling potential space for engagement with Washington. That message was reinforced days later when Vice Foreign Minister Kim Son-gyong addressed the United Nations General Assembly in New York, marking North Korea's first speech at the annual forum in seven years. He declared that Pyongyang would "never give up nuclear weapons under any circumstances" but said it was ready to cooperate with countries that treated it "in a friendly way." Alongside these statements, Pyongyang has accelerated its diplomacy with Beijing and Moscow. Earlier in September, Kim traveled to Beijing for China’s 80th Victory Day parade, where he appeared on Tiananmen Square with Chinese President Xi Jinping and Russian President Vladimir Putin. He then held his first one-on-one summit with Xi in nearly seven years, with both sides declaring their ties "unshakable." North Korea’s Foreign Minister Choe Son-hui stayed behind in China afterward for additional talks. Trump, meanwhile, has not hidden his interest in returning to personal diplomacy with Kim. During his first term, the two leaders met three times — in Singapore in June 2018, in Hanoi in February 2019, and at Panmunjom in June 2019. Trump has repeatedly expressed that he remembers those encounters positively, and Kim himself recently said he had a "good" memory of Trump. 2025-10-01 16:16:39