Ex-first lady awaits court's decision on arrest warrant SEOUL, August 12 (AJP) - The Seoul Central District Court is set to decide whether to arrest former first lady Kim Keon Hee over a series of allegations. The wife of disgraced former President Yoon Suk Yeol arrived at the court in the morning for a hearing that lasted about four hours, before being taken to a remand prison in southern Seoul to await the court's decision. Kim has been accused of accepting bribes including a luxury handbag and jewelry, being involved in a stock manipulation scheme, and interfering in candidate nominations during the 2022 by-elections. Independent prosecutors investigating her said Kim poses a high risk of destroying evidence after denying all charges during her previous questioning last week. But her lawyers insist that she had fully cooperated with the probe, had no intention of fleeing, and was in poor health. Yoon, the impeached ex-president and Kim's husband, is currently detained in a different remand prison in Uiwang, Gyeonggi Province over charges related to his botched Dec. 3 declaration of martial law. If her arrest is issued, they would become the first former presidential couple in the country's history to be held simultaneously. 2025-08-12 17:22:52

Jobseekers face toughest market amid manufacturing slump SEOUL, August 12 (AJP) - Amid the prolonged economic downturn, the country’s toughest job market meant there were only 0.4 positions available per jobseeker last month, the lowest level seen in more than two decades. According to a monthly report released on Monday by the Ministry of Employment and Labor, the number of jobs available per jobseeker fell to 0.4 in July, down from 0.51 a year ago and also the lowest since July 1999. Job ads posted on government recruitment sites totaled approximately 165,000, down about 16.9 percent from the previous year, while the number of jobseekers rose 5.5 percent to around 411,000 during the same period. The ministry attributed the deteriorating job market to a worsening shortage of manufacturing-sector jobs, exacerbated by challenges in production and exports. Relevant figures reflect this trend, as the number of employment insurance subscribers dropped by some 5,000 workers in manufacturing and 19,000 in construction amid a prolonged industry slump lasting more than two years. But service industries and healthcare and welfare industries managed to add more jobs, among the country's total 15.6 million workers with employment insurance as of July. Applicants for unemployment benefits remained relatively stable at 111,000 in July, down slightly from the previous year. However, total benefit payments rose 3.3 percent to 1.1 trillion won as more unemployed workers and jobseekers have lingered for several more months in finding their new jobs. 2025-08-12 17:01:03

Business leaders from South Korea and Viet Nam forge partnership at forum in Seoul SEOUL, August 12 (AJP) - Business leaders from South Korea and Viet Nam gathered for a forum in Seoul on Tuesday to explore new opportunities for economic cooperation and strengthen partnership between the two countries. Co-hosted by the Korea Chamber of Commerce and Industry (KCCI), South Korea's Ministry of Trade, Industry and Energy, the Vietnamese Embassy, and Viet Nam's Ministry of Finance, the forum took place, coinciding with the visit of Vietnamese Communist Party General Secretary To Lam—the first visit by a Vietnamese top leader to South Korea in about a decade. The forum brought together over 500 participants including business executives from big companies such as Samsung Electronics, SK Innovation, LG CNS and Lotte Shopping as well as senior government officials. Participants from Viet Nam included the deputy prime minister, the ministers of finance and industry, as well as leaders from major companies such as PetroVietnam and Viettel Group. Discussions focused on cooperation in various sectors including digital technology, advanced industries, semiconductors, renewable energy, and supply chains. Companies from both sides also presented plans for collaboration. The forum also featured the signing of 84 memorandums of understanding between 47 South Korean companies and institutions and 37 Vietnamese counterparts covering energy, shipbuilding, aviation, AI, advanced materials and drones. Since diplomatic ties were established in 1992, bilateral trade has grown from $500 million to $86.7 billion in 2023, making Viet Nam South Korea's third-largest trading partner after China and the U.S. South Korea is also Viet Nam's largest foreign investor with $92.5 billion in cumulative investment and about 10,000 South Korean companies operating there. 2025-08-12 16:22:13

KT posts record quarterly operating profit driven by robust AI-related business SEOUL, August 12 (AJP) - Telecom giant KT Corp posted 1.01 trillion won of operating profit in the second quarter, it said on Monday. The highest quarterly profit in its history was driven by its artificial intelligence (AI)-related business that grew 13.8 percent on-year. Its consolidated revenue also stood at 7.43 trillion won (or US$5.4 billion) during the period between April and June, a 13.5 percent increase from the same quarter last year. Even excluding approximately 390 billion won earned from one-off asset sales, its sales performance still exceeded market expectations. Revenues from wireless communications grew by a modest 1.6 percent compared to a year ago, while the AI business division achieved double-digit growth, emerging as the company's key growth engine. Its CEO, Kim Young-shub already declared AI as one of the company's main sources of revenue for the future at the annual Mobile World Congress which was held in Barcelona in February this tear and vowed to integrate it with information and communications technology. As part of such efforts, KT plans to unveil a language-related model in collaboration with Microsoft and also launch a cloud service featuring "confidential computing" technology with enhanced security in the second half of this year, which is expected to improve its sales in the second half of this year. It also hopes to benefit from its deal with American data analytics firm Palantir in March, making it the only South Korean company with strategic partnerships with both Microsoft and Palantir. But challenges remain in the public-sector business after failing to qualify for the government's massive consortium program supporting AI projects. Industry analysts expect that KT could overcome this setback by leveraging private-sector demand through partnerships with the two U.S. tech companies. 2025-08-12 16:04:01

Commemorative US coin honoring activist of Korean decent issued this week SEOUL, August 12 (AJP) - Commemorative 25-cent coins featuring American activist Stacey Park Milbern are now available in the U.S., making her the first woman of Korean descent to appear on U.S. currency. The quarters honoring her life and legacy went on sale starting this week "in two- and three-roll sets, as well as 100-coin bags," according to the U.S. Mint. The issuance came several months after the Mint revealed this year's honorees to be featured on the backs of the coins in November last year. They are available for purchase with prices ranging from US$42 to $63. In its statement last week, the Mint described Milbern as a "visionary leader and powerful activist for disability justice." It added, "Born with physical disabilities, her life experiences led her to inspire and empower others, championing the belief that everyone is inherently valuable." The coins, the fourth in this year's series, come under the Mint's program, which honors "a diverse group of notable American women who made significant contributions in a variety of fields, including suffrage, civil rights, abolition, government, humanities, science, space, and the arts." The previous honorees include African-American investigative journalist Ida B. Wells, Girl Scouts founder Juliette Gordon Low and astronomer Vera Rubin. The front of the coins features the first U.S. President George Washington, as on other quarters, while the back bears an engraved portrait of Milbern sitting in a wheelchair. Born in 1987 to a U.S. Army soldier father and a South Korean mother, Milbern, also known by her Korean name Park Ji-hye, suffered from congenital muscular dystrophy. She began advocating for disability rights as a teenager and later gained recognition by advising the Barack Obama administration on disability-related policies. She died in 2020 after battling complications from a kidney tumor. 2025-08-12 15:29:43

Majority of South Korean firms look to reenter Russian market once war ends SEOUL, August 12 (AJP) - Amid Russia's prolonged war against Ukraine, a majority of South Korean companies that previously operated in Russia hope to return to the market, a new survey suggests. According to a report based on the survey of some 528 companies and released on Tuesday by the Korea International Trade Association (KITA), some 79.2 percent of South Korean firms that halted exports to Moscow due to the war expressed their intention to return to the market. The main reasons cited were the potential for recovery in the Russian market and the desire to maintain relationships with existing buyers. The report also showed South Korea's exports to Russia peaked at $10 billion in 2021 before dropping to $4.53 billion in 2024, mainly due to war-related international sanctions. During the same period, the number of South Korean exporters fell sharply from 4,003 to 1,861. These sanctions raised the number of export items requiring specific approval to a staggering 1,431, encompassing not only strategic goods but also some non-strategic items. Firms that halted exports to Russia also struggled to find alternative markets, with only 37.2 percent of such companies have managed to enter other markets. More than half of the surveyed companies or 51.8 percent, remained optimistic about the recovery of the Russian market, saying that if uncertainties are resolved, Russia could once again become a viable strategic market. Nevertheless they cited several obstacles to returning to the market such as payment risks (69.9 percent), difficulties in logistics and transport (44.6 percent), and geopolitical instability (43.2 percent). For these reasons, companies urged the government to provide support related to sanctions. "Russia is a market we cannot afford to miss," said Yu Seo-kyung, a senior researcher at KITA. "It is important to come up with a trade-related roadmap based on recovery scenarios for the war," she added. 2025-08-12 15:01:54

Forum marks first year of formalizing South Korea's diplomatic relations with Cuba Participants pose for a photo at a forum at Hankuk University of Foreign Studies in Seoul on Aug. 11, 2025. AJP Han Jun-gu SEOUL, August 12 (AJP) - Academic scholars, diplomats and other government officials gathered for a forum at Hankuk University of Foreign Studies in Seoul on Monday. Hosted by the university's Institute of Latin American Studies, the forum was held to celebrate the formalization of diplomatic relations between South Korea and Cuba about a year ago, with participants discussing ways to strengthen bilateral cooperation. The two countries barely knew each other until the early 1950s when Havana provided assistance during the 1950-53 Korean War, though short-lived diplomatic relations were severed soon after the Cuban Revolution in 1959. But mutual exchanges resumed in the late 1990s as the Caribbean country adopted a more pragmatic foreign policy. A breakthrough then came in February 2024, when the two countries agreed to establish formal relations, followed by the opening of embassies in Havana in January and in Seoul in June this year. Cuban Ambassador to Seoul Claudio Monzón delivers a congratulatory message at a forum at Hankuk University of Foreign Studies in Seoul on Aug. 11, 2025. AJP Han Jun-gu "This year has truly been a historic moment for both of our nations," said Cuban Ambassador to Seoul Claudio Monzón in his congratulatory remarks. "While we have already expanded cooperation in various fields, I believe there is still much more to be done. Academic cooperation such as this forum is one of the most important avenues for building our relationship." "Agriculture and energy sectors are the two key areas with the greatest potential for cooperation with Cuba," said Han Byung-gil, president of the Korean Council on Latin America and the Caribbean (KCLAC). "Cuba's historical and cultural familiarity with Latin American countries like Brazil could offer valuable insights, which we can adapt into a model suited for South Korea," he added. Many participants also expressed their hope that the forum would serve as a foundation for long-term collaboration between the two countries. 2025-08-12 13:57:40

Hyundai Steel signs deal for joint global CCUS hub project SEOUL, August 12 (AJP) - Hyundai Steel has signed a deal with several global steelmakers and related companies for a joint research project to identify hub sites for carbon capture, utilization and storage (CCUS), the company said on Monday. CCUS is a set of technologies that capture carbon dioxide generated during steelmaking, then either use it for various applications or permanently store it underground to prevent its release into the atmosphere. The project, led by global engineering and project management firm Hatch, aims to identify hub facilities capable of capturing and compressing CO2. The initial plan is to collect CO2 at onshore hubs before transporting it to offshore storage sites for long-term underground containment. A signing ceremony for the project was held in Singapore last Friday, with participants including Australia's BHP, U.S.-based Chevron, Japan's Mitsui & Co., and India's JSW Steel and AM/NS India, a joint venture between ArcelorMittal and Nippon Steel. Southeast Asia and northern Australia have been tipped as key candidate regions, with an 18-month study planned to explore the project's commercialization. If the project proves successful, Southeast Asia and Australia could secure large-scale CO2 processing infrastructure for Hyundai Steel and its partners, while South Korea's competitiveness in carbon reduction technology could gain momentum for further growth in the global market. A Hyundai Steel spokesman forecast, "The multi-consortium deal is expected to provide a valuable opportunity to explore various carbon reduction technologies including CCUS and expand the possibilities for achieving carbon neutrality. Collaboration with global market players will serve as an important stepping stone toward enhancing the sustainability of the steel industry." 2025-08-12 11:14:54

CJ CheilJedang posts sales drop amid slowdown in domestic consumption SEOUL, August 12 (AJP) - Food manufacturer CJ CheilJedang posted an operating profit of 353.1 billion won or approximately US$253.8 million in the second quarter, down about 7 percent as domestic consumption remains sluggish, despite robust sales in overseas markets. According to financial reports released on Tuesday, the country's largest food giant's consolidated revenue including sales from its logistics unit stood at 7.24 trillion won in the period between April and June, a slight decline of 1.5 billion won from a year ago. CJ's core food business division posted revenue of 2.69 trillion won, down just 1 percent, while operating profit fell 34 percent to 90.1 billion won. It attributed the setbacks to sluggish domestic consumption, with food sales dropping 5 percent to 1.32 trillion won as consumers kept their wallets shut at offline retail stores. However, online sales of processed food surged 24 percent, offering some relief from the decline at traditional brick-and-mortar stores. Overseas sales also rose 3 percent to 1.37 trillion won, driven by its flagship brand Bibigo gaining traction from major foreign markets. In particular, sales in North America reached 1.11 trillion won, with frozen rice up 19 percent, chicken rising 12 percent, and rolls increasing 18 percent. The biotechnology-based food business division also posted steady growth, with revenue rising 2 percent to 1.08 trillion won and operating profit climbing 8 percent to 102.4 billion won. CJ plans to accelerate its culinary expansion in the second half by building or enhancing production facilities overseas including Japan, while developing more diverse products to meet demand from health-conscious consumers here. 2025-08-12 10:30:10

Samsung seeks to capitalize on US push for domestic chip production SEOUL, August 11 (AJP) - Samsung Electronics aims to capitalize on rising U.S. demand for domestically produced advanced semiconductors, with plans to begin cutting-edge 2-nanometer production at its facility in Taylor, Texas starting next year while rival TSMC maintains a Taiwan-first strategy. The South Korean chipmaker is installing 2-nm production equipment at the plant with aims to start operations by 2026, according to industry sources on Sunday. Samsung and TSMC are the two global giants capable of mass-producing 2-nm chips, the latest foundry process technology set for commercialization in the second half of this year. Samsung will begin mass production using the 2-nm process for Tesla's next-generation AI chip dubbed "AI6" at the plant as early as next year. The facility will become Samsung's advanced foundry hub with over $37 billion in planned investment through 2030, focusing on cutting-edge processes unlike its traditional process-oriented Austin facility. Samsung's such approach appears to be a strategy to benefit from American tech giants' need to source semiconductors domestically amid President Donald Trump's threats of semiconductor tariffs. But unlike Samsung, TSMC plans to produce 2-nm technology chips at its Arizona facilities around 2028, more than two years after starting 2-nm production in Taiwan this year. It has allocated only 30 percent of its 2-nm capacity to its U.S. facilities, maintaining its "homeland-first strategy" linked to Taiwan's security considerations as a deterrent against potential Chinese invasion. Industry analysts expect companies like Qualcomm may shift some chip orders from TSMC to Samsung due to limited domestic production options, following Apple's recent decision to use Samsung-produced chips from its Austin plant. 2025-08-11 18:14:41