Prosecutors seek 15-year prison term for ex-interior minister over martial law involvement SEOUL, January 12 (AJP) - Prosecutors on Monday sought a 15-year prison sentence for former Interior Minister Lee Sang-min over his alleged involvement in disgraced former President Yoon Suk Yeol's martial law debacle in late 2024. During the final hearing of Lee's trial at the Seoul Central District Court in southern Seoul, prosecutors led by Cho Eun-suk said Lee, who had a decade-long career as a judge and lawyer at a law firm, "took part" in Yoon's botched Dec. 3 declaration of martial law, despite being fully aware that it was illegal and unconstitutional. Prosecutors added that Lee, who was also responsible for national security and disaster management, failed to stop Yoon and instead assisted him by instructing police and fire agencies to cut off power and water to media outlets. Lee was also charged with perjury for denying his involvement during Yoon's impeachment trial last year. The court is expected to deliver a verdict in Lee's trial in mid-February. 2026-01-12 17:00:21

Strong memory prices, weak won fuel electronics inflation in Korea SEOUL, January 12 (AJP) - Soaring memory chip prices, compounded by a weak won, are pushing up the cost of electronics in South Korea, from laptops and smartphones to AI-driven devices such as robots and autonomous systems. All computing devices rely on memory chips, and the rapid expansion of hyperscale data centers and artificial intelligence has tightened global supply. As chipmakers prioritize high-performance memory for AI servers, device manufacturers and retailers are scrambling to secure components, driving up prices across the electronics market. “Simply put, today is the cheapest day to buy a laptop,” said a vendor at Seoul’s Yongsan electronics shopping mall, a longtime barometer of consumer electronics demand. Woo, a manager at Seoul’s Yongsan electronics shopping mall, said the shortage stems from chipmakers diverting conventional DRAM capacity to high-bandwidth memory used in AI workloads, leaving limited supply for consumer devices. “Demand is surging, but inventories are tight, and buyers are willing to pay a premium to secure components,” he said. “That has effectively doubled prices. This has been going on for the past two to three months, and I expect the market to remain tight at least through April or May.” Despite rising prices, sales have yet to slow meaningfully, he added. “Even with higher costs, people who need PCs right away are still buying,” Woo said. “At our store alone, around 100 custom PC orders were registered over the weekend, and in some cases deliveries are being delayed because supply cannot keep up.” Many consumers, however, are hesitating. Kim Beom-jin, an office worker browsing during his lunch break, said he recently postponed a purchase. “I was looking to buy a laptop, but when I came back, I was shocked by the price,” he said. “Now I’m trying to decide whether this is the right time to buy or if I should wait.” Memory prices have risen sharply since the second half of last year. The average selling price of DDR eight-gigabit DRAM jumped from about $1.3 in March to roughly $8 in November, as major producers — Samsung Electronics, SK hynix and Micron — shifted capacity toward high-bandwidth memory for hyperscale servers and AI accelerators. The increase in contract prices has already filtered through to device makers. PC manufacturers including HP and Dell have raised prices, citing higher component costs. Market researcher TrendForce said the impact is becoming increasingly visible. The firm forecasts that PC DRAM contract prices could rise by as much as 60 percent in the first quarter of 2026, a move expected to translate into 5 to 15 percent increases in retail prices for laptops and smartphones this year. Import costs are adding to the pressure. Statistics Korea data show prices for computer equipment and peripherals rose 15.2 percent in the fourth quarter of 2025 from the previous quarter, while semiconductor components, including memory chips, jumped 28.4 percent from a year earlier. The increase has been amplified by a weak won, as the currency hovered around 1,480 versus the U.S. dollar in December, losing more than 8 percent from 1,362 won in late June. Supply constraints remain tight. TrendForce estimates that PC DRAM prices rose 15 to 20 percent between the fourth quarter of 2025 and the first quarter of 2026, while server DRAM prices surged more than 25 percent amid booming demand from AI data centers. With chipmakers allocating more than forty percent of wafer capacity to high-bandwidth memory, supplies of conventional DRAM for PCs and smartphones have tightened. The impact is increasingly visible at retail. Average prices for gaming laptops equipped with Nvidia’s RTX 4060 have risen 25.5 percent since early 2024, while the cost of a standard 32-gigabyte DDR5 memory kit has jumped 62.5 percent over the same period. Mid-range custom PC builds are now about thirty percent more expensive than two years ago. Smartphone prices are also climbing. Samsung’s next flagship Galaxy S model, expected to launch in 2026, is projected to be priced at around 1.93 million won, about 13 percent higher than the 2024 version, according to industry estimates. Apple’s iPhone Pro models are expected to be priced nearly twenty percent higher than two years earlier. Kim Duk-gi, a professor of semiconductor systems engineering at Sejong University, said the current price surge reflects the inherently cyclical nature of the memory industry, now amplified by an unprecedented wave of AI investment. “Memory is produced on a continuous, twenty-four-hour cycle, unlike logic chips that are designed to meet specific demand,” Kim said. “With the rapid expansion of AI data centers, demand has surged much faster than supply can adjust. That is why we are now in a shortage phase, but structurally, the industry will eventually swing back to oversupply.” Kim added that the tight market is unlikely to ease quickly. “The shortage is still relatively recent, so it will be difficult to resolve in the near term,” he said. “For now, elevated prices are likely to persist.” Counterpoint Research estimates that in 2026, memory components could account for up to 35 percent of a device’s retail price, marking what it describes as the peak of “component-driven inflation” in the global electronics sector. 2026-01-12 16:58:33

Red flags rise as leveraged stock investment hits record highs in Korea SEOUL, January 12 (AJP) - As an AI-driven frenzy continues to power record rallies in Seoul and on Wall Street, leveraged stock investment in South Korea has surged to historic highs, amplifying financial vulnerabilities in an economy where household debt already exceeds gross domestic product. The benchmark KOSPI continued to rewrite records this week, climbing 0.84% to 4,624.79 - less than a week after breaking through 4,500. The index has rallied almost uninterrupted since mid-December, rising from below 4,000 on Dec. 18. The roughly 16 percent gain over that period extends a broader rally of about 75 percent since the start of 2025. If last year’s rally was driven primarily by SK hynix, this year’s momentum has been led by Samsung Electronics. The stock has set successive record highs, briefly topping the 140,000-won level during morning trading. The blistering equity surge — unfolding against a backdrop of sluggish economic indicators — is fueling concern rather than relief among policymakers and market watchers. According to data from the Korea Financial Investment Association (KOFIA), margin trading balances reached a record 28 trillion won ($19.2 billion) as of Jan. 8, marking a more than 30 percent increase from a year earlier. Margin debt, which allows investors to borrow against existing holdings to amplify returns, has accelerated sharply over the past three years. Growth stood near 10 percent in 2023, rose to about 20 percent in 2024 following the U.S. Federal Reserve’s aggressive rate cuts, and has surged further this year amid abundant global liquidity. Risk appetite has been especially concentrated in blue-chip stocks. Samsung Electronics alone accounted for nearly 2 trillion won in margin debt as of early January. Analysts warn that such “borrowed-money” investment is highly vulnerable to external shocks — most notably a potential further rate hike by the Bank of Japan (BOJ). BOJ Governor Kazuo Ueda signaled a continued hawkish stance at a New Year’s press conference on Jan. 5, indicating that the central bank would raise policy rates gradually from the current 0.75 percent as real interest rates remain deeply negative. The BOJ’s policy meeting on Jan. 23, followed closely by the U.S. Federal Open Market Committee (FOMC) meeting, is expected to serve as a key test for the direction of the yen-carry trade. While Japan’s December rate hike was largely priced in, analysts caution that an additional move could push the yen beyond key psychological thresholds against the dollar. “The ‘Black Monday’ crash in August 2024, when the Korean market plunged nearly 9 percent, was triggered the moment the yen hit 162 per dollar,” said Cho Yong-gu, a researcher at Shinyoung Securities. “Investors should closely monitor the yen-dollar exchange rate as the Fed weighs whether to hold or cut rates.” Kwon Ah-min, a researcher at NH Investment & Securities, echoed the warning, noting that given the severe damage caused by the unwinding of yen-carry trades two years ago, market participants must watch closely where global capital flows once the yen begins to strengthen. During the previous unwinding episode on Aug. 5, 2024, South Korean stocks suffered an 8.77 percent plunge, triggering widespread margin calls and heavy losses among retail investors. Samsung Electronics fell more than 10 percent, while SK hynix slid over 9 percent. With leverage now at even higher levels, a similar shock could pose systemic risks to the broader economy. Rising debt yields are adding further strain to South Korea’s households, whose total debt surpassed a record 1,800 trillion won as of the third quarter last year. Data submitted by the Bank of Korea to the National Assembly show that average debt per borrower is approaching 100 million won, underscoring the fragility of private-sector balance sheets. Global investment banks are also raising cautionary flags. Goldman Sachs warned in a late-December report that a BOJ rate hike on Jan. 23 could become a “tipping point” for the yen-carry trade. Morgan Stanley said that if Japan’s real interest rates turn positive, a large-scale repatriation of capital to Japan could trigger a global market sell-off. Identifying early warning signals will be critical in the current environment. “When the yen strengthens by more than 1 percent in a single day, or when bond yields and credit default swap premiums spike beyond normal ranges, it should be seen as a sign that yen-carry unwinding has begun,” said Kim Young-ik, a former professor at Sogang University. 2026-01-12 16:48:10

From the 2025 lull to the 2026 pipeline: can Korean cinema bounce back? SEOUL, January 12 (AJP) - After a year that many in the industry would rather forget, Korean cinema is lining up a high-stakes reset for 2026. The drought of 2025 was historic for all the wrong reasons. For the first time since 2012—excluding the pandemic years—not a single film crossed the 10-million-admissions mark. Even the symbolic 5 million barrier proved elusive. Big names stumbled, audience momentum stalled, and production volumes fell to nearly half their pre-COVID levels. The message was clear: the old formulas no longer guaranteed survival. Now comes the counteroffensive. Leading the charge is Na Hong-jin’s Hope, reportedly the most expensive Korean film ever made, with a production budget exceeding 70 billion won. Set for release in July and aiming for a Cannes premiere, Hope marks Na’s return after a decade, following The Wailing (2016). True to form, the director moves away from genre comfort zones, staging a mysterious extraterrestrial encounter in a fictional village near the DMZ. The cast—Zo In-sung, Hwang Jung-min, Jung Ho-yeon, Michael Fassbender and Alicia Vikander—signals ambition well beyond the domestic market. Zo In-sung alone embodies the year’s pipeline logic. He will also headline Ryoo Seung-wan’s Humint, a South–North espionage thriller set in Vladivostok and slated for the 2026 Lunar New Year season. Shot in Latvia, the film leans into scale, geopolitics and genre clarity—exactly the elements Korean distributors are betting can still pull audiences back to theaters. On another front, Yeon Sang-ho returns to zombies with Colony, a high-concept survival thriller about an apartment complex sealed off by a mutating virus. Promoted as his most commercial work since Train to Busan, the film also marks Jun Ji-hyun’s first big-screen appearance in 11 years. Where Train to Busan thrived on kinetic panic, Colony promises something colder and more systemic: infected minds forming networks, not mobs. Then there is Lee Chang-dong, whose long-awaited new film Possible Love takes a different route entirely. Instead of theaters, the Cannes- and Venice-honored director has gone straight to Netflix. The decision, born partly of funding difficulties, has become emblematic of the industry’s fault line: auteurs still command global prestige, but no longer automatic domestic investment. Written with longtime collaborator Oh Jung-mi, the film reunites Lee with actors who define modern Korean cinema: Sol Kyung-gu, Jeon Do-yeon, Cho Yeo-jeong and Zo In-sung. What ties these projects together is not optimism, but necessity. With only 22 Korean films scheduled by the five major distributors in 2026—down from roughly 40 before the pandemic—every release carries disproportionate weight. The industry is no longer flooding the market; it is concentrating its bets. The stakes are clear. Since The Roundup: Punishment crossed 10 million admissions in April 2024, no Korean film has followed. The symbolic era that began with Silmido and peaked with The Host and The Admiral: Roaring Currents now feels distant. What replaces it remains uncertain. Yet 2026 suggests a pivot rather than a retreat: fewer films, higher budgets, sharper genre positioning—and, increasingly, a split path between theatrical spectacle and stream-first prestige. After the silence of 2025, Korean cinema is speaking again. The question is whether audiences are ready to listen. 2026-01-12 16:45:01

Ex-DP lawmaker slapped with travel ban over alleged bribery SEOUL, January 12 (AJP) - Former Democratic Party (DP) lawmaker Kang Sun-woo has been banned from traveling, along with two others, over alleged bribery, police said on Monday. Kang, who recently left the party amid allegations, is accused of accepting 100 million Korean won (US$68,500) from Seoul city official Kim Kyung in return for the DP's candidate nominations for the 2022 local elections. The money was reportedly delivered to Kang's ex-aide, identified only by his surname Nam. The Seoul Metropolitan Police Agency said it imposed the travel bans on the three, citing the seriousness of the case. The travel bans come a day after police raided their homes and offices to investigate how the money was delivered and used. The case emerged after an audio recording was abruptly released a few weeks ago, in which Kang is heard discussing the acceptance of the money with then-DP floor leader Kim Byung-ki, who resigned late last year amid a spate of bribery allegations and other misconduct. The Seoul city official, believed to have handed the money to Kang, was questioned the previous day upon her return to Seoul after traveling to the U.S. shortly after the allegations surfaced. But Kim, who was questioned for just three hours or so because of jet lag, is expected to be summoned again for further questioning. The Seoul city official, believed to have handed the money to Kang, was questioned the previous day upon her return to Seoul after traveling to the U.S. shortly after the allegations surfaced. Her questioning lasted only about three hours due to jet lag, and she is expected to be summoned again. Amid criticism that the investigation was too slow, potentially allowing suspects to destroy evidence, a score of complaints related to the case have been filed so far. 2026-01-12 16:28:39

Korean Air–Asiana union nears; what does it mean for Asiana passengers? SEOUL, January 12 (AJP) - The long-awaited merger between Korean Air and Asiana Airlines is finally approaching completion. But for millions of Asiana passengers, one question matters more than regulatory approvals or aircraft numbers: What happens to my miles, status and benefits? As Asiana is absorbed into Korea's larger flag carrier, its brand, loyalty program and global alliance will all disappear. While the combined airline promises greater scale and efficiency, many frequent flyers fear they may lose hard-earned advantages along the way. Miles: the biggest unresolved issue The most sensitive issue remains mileage integration, now widely seen as the final hurdle to full merger approval. In September last year, Korean Air proposed converting flight-earned miles at a 1:1 ratio, while credit-card miles would be converted at 1:0.82. Consumer groups objected immediately, arguing that the two airlines' mileage programs are not equal in value. Industry estimates put the value of a Korean Air mile at about 21–23 won ($0.02), compared with 17–19 won for an Asiana mile. The gap reflects stricter qualification rules at Korean Air, where elite status requires far more flying. Asiana flyers currently reach Gold status at 20,000 miles, while Korean Air's entry-level elite tier, Morning Calm, requires 50,000 miles. That difference has allowed many travelers to earn a higher status more easily on Asiana. Why elite flyers are worried Under the merger, the two loyalty systems will eventually be combined. That raises fears on both sides: Asiana customers worry their miles and status will be downgraded, while Korean Air elites fear their hard-earned privileges will be diluted if the elite pool suddenly expands. One frequent flyer summed it up online: "If lounge access and upgrades don't expand with the number of elite members, benefits will lose their meaning." To address criticism, Korean Air revised its plan, proposing to keep the two mileage programs separate for 10 years, with no conversion during that period. After a decade, all miles would move under Korean Air's Skypass program. The Fair Trade Commission (FTC) rejected that proposal in December, asking for stronger guarantees on award-seat availability and mileage upgrades — a decision that has pushed final integration further into the future. Alliance change: fewer global perks Another major change is Asiana's exit from Star Alliance in October. The airline will move to SkyTeam, Korean Air's alliance, because airlines cannot belong to two alliances at once. For many Asiana frequent flyers, this is a clear loss. Star Alliance has 25 member airlines, compared with SkyTeam's 19, and offers broader global coverage and lounge access. Korean Air says SkyTeam is sufficient for major routes and that customers will gain better access to its direct flights. Business travelers, however, say the shift reduces flexibility rather than improving it. One brand survives — and it's not Asiana The merger also ends Asiana Airlines as a standalone brand. Korean Air has made clear it will operate the combined carrier under its own name. Last year, it unveiled a refreshed logo and aircraft design, replacing "KOREAN AIR" with a simplified "KOREAN." For Asiana customers, the message is clear: this is not a merger of equals. The physical transition will also take time. Korean Air must repaint 238 aircraft, including 68 from Asiana, by 2027. Each repaint can take up to 15 days and cost nearly 1 billion won, raising questions about cost and disruption during the transition. Bigger airline, lingering doubts Legally, the deal is almost done. Korean Air completed the acquisition on Dec. 11, 2024, after securing approvals in 14 jurisdictions. Once fully integrated, the airline will rank among the world's top ten, with more than 230 aircraft, service to 120 cities and annual revenue exceeding 23 trillion won. At Incheon Airport, it will control about 37 percent of slots, with Asiana moving to Terminal 2 in mid-January 2026 for smoother transfers. Yet analysts say scale alone won't determine success. "If customers feel their loyalty was simply erased, the merger's long-term value will suffer," one industry official said. The question is no longer whether the merger will happen — but whether Korean Air can keep the trust of Asiana’s passengers once it does. 2026-01-12 16:26:34

Snowy Seoul SEOUL, January 12 (AJP) -Snow fell quietly across Seoul on Monday afternoon, drawing tourists and residents alike to pause and capture the softened cityscape. Light snowfall blanketed streets, rooftops and palace grounds, muting the usual rush of the capital and turning familiar landmarks into scenes of winter stillness. Visitors lingered with cameras and phones as flakes drifted down, framing Seoul in a rare moment of calm. The snowfall came amid sharp temperature swings, with morning lows hovering near minus 10 degrees Celsius before daytime highs climbed to around 2 degrees. About 1 centimeter of snow accumulated across the capital, while heavier snow advisories were issued for Gyeonggi and Gangwon provinces, where up to 8 centimeters is forecast in inland and mountainous areas. Meteorologists said colder air is expected to return from Tuesday afternoon, pushing Seoul’s morning temperatures back toward minus 10 degrees by midweek. 2026-01-12 16:15:05

The seasonal magic of birch forest in Inje SEOUL, January 12 (AJP) - The celebrated birch forest of Inje, nestled in the mountains of Gangwon Province, has been transformed into a pristine white landscape following a recent heavy snowfall. The Wondae-ri Birch Forest is a testament to decades of careful reforestation. Between 1974 and 1995, approximately 690,000 birch trees were planted across 138 hectares, evolving from a dedicated man-made plantation into one of the region's most iconic natural retreats. Today, the site offers seven distinct trekking trails alongside a variety of forest education and immersion facilities. The heart of the birch groves is located roughly 3.5 kilometers from the forest's main information center. While the trails are designed with gentle gradients that follow the mountain’s contours — making them accessible to hikers of all ages — winter conditions require extra caution. Authorities recommend that visitors wear safety gear, including crampons and hiking poles, to navigate sections of the path that may be slick with ice or packed snow. For families, the forest features a dedicated experience program for children. During the winter season, the forest is open from 9 a.m. to 5 p.m., though hikers are advised that the final entry for the day is strictly at 2 p.m. to ensure a safe return before sunset. 2026-01-12 16:04:44

Hyundai-backed company to launch driverless robotaxi service in Las Vegas SEOUL, January 12 (AJP) - Motional, the autonomous-driving joint venture backed by Hyundai Motor Group, plans to commercialize a fully driverless robotaxi service in Las Vegas later this year. Hyundai Motor said Monday Motional outlined the plan during a media event held Jan. 8 at its Las Vegas Technical Center, where it aims to launch an unmanned autonomous-driving service operating at Society of Automotive Engineers, or SAE, Level 4 by the end of the year. Under the SAE’s six-level framework, which ranges from Level 0 to Level 5, Level 4 — described as “high automation” — allows a vehicle to operate without human intervention under most driving conditions. Motional said it will begin pilot operations early this year to complete final safety and customer-experience validations ahead of a commercial rollout. Both the pilot and the commercial service will be conducted in partnership with a global ride-hailing company. Las Vegas has served as Motional’s longest-running robotaxi testing ground and is considered a demanding environment for validating autonomous-driving systems, given its mix of traffic patterns, road layouts and tourist activity. Chief Executive Laura Major declined to disclose the initial scale of the rollout but said Motional has sufficient vehicles to meet strong demand in Las Vegas and intends to expand service over time. “We plan to expand with Las Vegas as the center,” she said. The company also outlined a longer-term technology roadmap that combines its existing rule-based autonomous-driving systems with end-to-end, or E2E, artificial-intelligence models. Rule-based systems are typically easier to validate for safety but can struggle with rare or unpredictable scenarios. A hybrid approach, Motional said, is intended to improve both safety and operational efficiency. End-to-end systems rely on AI models trained on large volumes of driving data to infer and respond to real-world situations, an approach prominently used by Tesla. Motional also plans to improve its handling of so-called edge cases by integrating multiple machine-learning models — covering perception, prediction and vehicle control — into a single large driving model. Hyundai Motor Group said it will deepen collaboration among Motional, group affiliate 42dot and its autonomous-vehicle platform division, AVP. The automaker is considering linking Motional’s operational data and validation systems from the Level 4 commercialization process with 42dot’s software-defined vehicle roadmap to improve development efficiency in autonomous driving and SDVs. The plan also calls for expanded use of shared data infrastructure and standardized safety evaluation frameworks across the group. “This year, when we begin our first commercial driverless service, is very important for Motional,” Major said. “We are strengthening our capabilities so we can advance the technology and expand the scale of service operations.” 2026-01-12 15:54:05

Lee meets religious leaders to seek advice SEOUL, January 12 (AJP) - President Lee Jae Myung on Monday asked major religious leaders to help unite South Koreans as social conflict and divisions deepen. At a luncheon meeting at Cheong Wa Dae in central Seoul with leaders of South Korea's seven key religious orders including Buddhist monks, Catholic priests, Christian pastors, and others, Lee said, "As many people feel, conflict, hatred, and hostility in our society seem to have increased." He added that the president's most important job is to bring people together, but "even though I'm trying, there are many limits." Lee asked them to do more so that people can "live hand in hand" with harmony and inclusion, saying that the essence of religion is to practice love. He added that he would take their advice to heart and do his best to move the country toward a society where people "reconcile, forgive, and embrace one another." Presidential spokesperson Kang Yu-jung said the New Year's gathering was held to seek wisdom and advice from the religious community. 2026-01-12 15:39:54