Lee's first pardon includes slew of 'controversial' political figures SEOUL, August 11 (AJP) - President Lee Jae-myung has decided to pardon a slew of politicians and several others to mark the 80th anniversary of Liberation Day which falls on this Friday, despite some public criticism that is likely to stir a fresh round of political disputes. The decision was made at a cabinet meeting chaired by Lee on Monday, just a day after his return from a weeklong summer vacation. According to the Ministry of Justice, the special amnesty aimed at "promoting unity in the country" covers some 836,687 individuals including some 2,000 minor offenders convicted of livelihood-related crimes and about 20 business moguls. Among those included is former Justice Minister and ex-leader of the minor Rebuilding Korea Party Cho Kuk. Cho's pardon comes less than a year after he was sentenced to two years in prison in December last year for corruption and document forgery related to his children's university admissions. Several figures accused of irregularities and other wrongdoings, including Cho's wife Chung Kyung-shim, former lawmakers Choe Kang-wook and Yoon Mee-hyang, and former Seoul education chief Cho Hee-yeon - were also pardoned or had their rights reinstated. Amid ominous signs over the much-anticipated inclusion of Cho, along with Yoon, the former head of a charity for victims of wartime sex slavery who was handed a three-year suspended sentence last year for embezzling money from donations, Lee's approval rating slid for the first time, hitting its lowest level since he took office in early June. According to pollster Realmeter's latest survey of 2,500 people conducted last week, his approval rating stood at 56.5 percent, down 6.8 percentage points from a week earlier. Cho and Yoon have been unremorseful, claiming their cases were politically-motivated from the previous administration. 2025-08-11 17:50:16

South Korea seeks tariff exemption for polysilicon exports to US SEOUL, August 11 (AJP) - South Korea is seeking an exemption from possible restrictions on polysilicon exports to the U.S. According to a document submitted to the U.S. Commerce Department early last week and disclosed in the Federal Register on Sunday, Seoul requested "special consideration" to exempt South Korean companies from potential import restrictions on polysilicon, a key material for solar panels and semiconductors. The request was made amid U.S. President Donald Trump's Section 232 trade investigation, which examines whether imports of polysilicon should face tariffs or other restrictions to protect what his administration considers a strategically important material for national security. The document explained that broad tariffs on this essential material could disrupt supply chains critical to both countries, emphasizing that South Korean companies are actively investing in the American solar and semiconductor industries, and highlighting that access to polysilicon is crucial for their operations and aligns with America's supply chain diversification goals. It also cited South Korean companies' massive investment in the U.S. including Hanwha Q Cells' solar panel manufacturing facility in Georgia and OCI's solar cell production facility in Texas. Government officials here also expressed concerns that polysilicon tariffs could increase semiconductor manufacturing costs in the U.S. and reduce the profitability of companies operating there, potentially undermining American reshoring goals. In a separate request, Hanwha Q Cells proposed that the U.S. impose a US$10 per kilogram on polysilicon imports while establishing tariff-rate quotas allowing 20,000 tons of duty-free imports annually from Germany and Malaysia. The company also suggested a tariff of 20 cents per watt on solar modules regardless of country of origin, while recommending TRQ allocations for solar ingots, wafers, and cells made from U.S., German, and Malaysian polysilicon. Hanwha sources all polysilicon for its U.S. operations from Malaysia and imports solar cells made from Malaysian polysilicon, both from South Korea and Malaysia, to manufacture modules in the U.S. Semiconductor polysilicon producer OCI similarly requested an exemption for semiconductor-grade polysilicon. The document also called for enhanced cooperation among U.S. allies to strengthen global supply chains, urging that the trade investigation be conducted in a "reasonable and predictable manner consistent with U.S. national security objectives." 2025-08-11 17:07:11

Top online bookstore suffers another ransomware attack SEOUL, August 11 (AJP) - Online bookstore Yes24 suffered another ransomware breach on Monday, just two months after its previous attack in June, raising alarming concerns about data security. The latest attack comes amid security experts' warnings that the country's largest bookstore's decision to negotiate with hackers during the initial June incident may have made it an easy target for future attacks. The firm said the incident occurred at around 4:30 a.m., but the system was fully recovered by 11:20 a.m., about seven hours after the attack. "We sincerely apologize for causing inconvenience to our customers once again," Yes24 said in its press release. Yes24 first suffered a ransomware attack on June 9, which paralyzed its app and internet services for about a week. The company faced criticism at the time for failing to immediately notify users about the breach and for its lack of transparency regarding the incident. Security experts expressed particular concern when it emerged that Yes24 had reportedly paid cryptocurrency to the attackers to resolve the situation, a move that violated relevant cybersecurity regulations. "The most critical problem is that Yes24 failed to establish an off-site backup system that stores key data in external storage or cloud services to prepare for ransomware infections," said the Ministry of Science and ICT and Korea Internet & Security Agency (KISA) in a report. Government agencies and security experts also warned of the risks posed by Yes24’s decision to negotiate with hackers, expressing concerns about the possible recurrence of attacks. Industry observers now worry that the "worst-case scenario" predicted in the earlier report, with Yes24 becoming a repeat target within just two months. These incidents raise concerns about broader cybersecurity vulnerabilities in South Korea, following recent massive attacks on SK Telecom and Seoul Guarantee Insurance, prompting calls for stronger response measures and improvements in backup infrastructure. According to KISA's report, one in four companies targeted by ransomware attacks lacked backup systems capable of rapid recovery, exposing widespread security risks among many businesses. Security experts warn that without decisive action, South Korean companies could become primary targets for international ransomware groups, stressing the need for a firm stance against cyberattacks. 2025-08-11 16:35:08

KHNP begins on-site survey for nuclear power plant project in Czech Republic SEOUL, August 11 (AJP) - Korea Hydro & Nuclear Power (KHNP) began the first stage of its project for building a nuclear power plant in Dukovany, Czech Republic by conducting an on-site survey with a launch ceremony last week. The year-long survey, scheduled to conclude by August next year, will examine the characteristics of the proposed construction site to provide essential data for the plant's design. The ceremony last Saturday was attended by KHNP President and CEO Hwang Joo-ho; Petr Zavodsky, CEO and Chairman of the Management Board of Elektrárna Dukovany II (EDU II), the Czech project subsidiary; Czech Minister of Industry and Trade Jozef Síkela; South Korean Ambassador to the Czech Republic Hong Young-ki; and executives from CEZ EP, the local survey contractor. Later in the day, in the nearby town of Trebic, KHNP also held events to extend its sponsorship under the town's regional council partnership program, which includes support for the local ice hockey team. KHNP has supported the Dukovany-based SK H.S.T. ice hockey team since 2018 as part of its efforts to build strong ties with the local community. "The on-site survey is the first stage of the project and the practical starting point for the APR1000 design," Hwang said. "It is a critical step to ensure the contract schedule is met, and we will carry out the survey thoroughly and systematically as planned." 2025-08-11 16:01:54

Consumers feel the pinch as grocery prices soar SEOUL, August 11 (AJP) - Grocery and food prices jumped 3.5 percent in July from a year earlier, marking the sharpest increase in recent months as the costs of rice, instant noodles and seafood soared, market data showed on Monday. An index gauging the prices of food and non-alcoholic beverages, compiled by the KOrean Statistical Information Service (KOSIS), climbed to 125.75 last month, adding pressure on households already strained by rising costs including a recent hike in public transportation fees. The country’s overall inflation rate also rose to 2.1 percent. Market watchers attribute the surge to this summer's unprecedented heat wave and torrential rains, which severely disrupted agricultural production, while processed food manufacturers pushed through a series of price hikes. Fishery and seafood products led the increase with a 7.2 percent spike, the steepest rise in two years. Most staple foods that frequently appear on dining tables saw particularly sharp increases. Prices for dried squid rocketed 42.9 percent, while croaker and mackerel, both commonly consumed in many households, jumped 13.4 percent and 12.6 percent, respectively. Rice, a dietary staple, rose 7.6 percent, the fastest increase since March 2024. Bread and cereal products surged 6.6 percent, seeing the highest increase in nearly two years, while instant noodles maintained a three-month streak of 6 percent. Confectionery and ice cream prices climbed 5 percent, while dairy products including milk, cheese and eggs rose 3.6 percent. Adding to consumer woes, subway commuters in Seoul now have to spend more on transportation as the base fare increased by 150 won to 1,550 won (approximately US$1.12) since late June, pushing daily round-trip costs above 3,000 won. Mounting costs across the board loom as the government considers raising electricity and gas bills in the second half, which would further squeeze household finances already grappling with higher food prices. 2025-08-11 15:27:18

Lee meets Viet Nam's top party leader in Seoul SEOUL, August 11 (AJP) - President Lee Jae-myung met with Viet Nam's top party leader in Seoul on Monday to discuss ways to strengthen bilateral relations. To Lam, the general secretary of the Communist Party, arrived in Seoul the previous day for a meeting with Lee, the first state visit by a foreign leader since Lee took office in early June. In a meeting at the presidential office in Yongsan, To began his talks by saying he was honored to be the first state guest of the newly-launched Lee administration and expressed confidence that Lee’s leadership would bring about a new milestone for South Korea. Lee responded by hailing Viet Nam as a "very important neighbor" and expressing hope of "further elevating" bilateral cooperation, stressing the Southeast Asian country's rapid economic growth as South Korea's third-largest trading partner. "Marking the 10th anniversary of signing a free trade agreement, the two countries agreed to corporate further to reach a goal of achieving bilateral trade volume to $150 billion by 2030," Lee said at a joint press briefing after the meeting. He also explained that the two countries agreed to increase investment and cooperate in various sectors including infrastructure, nuclear energy, and construction. Lee also added that around five million people travel between Seoul and Hanoi annually, and about 100,000 couples here are in marriages involving Vietnamese spouses, highlighting mutual exchanges across various sectors between the two countries. To invited Lee and first lady Kim Hye-kyung to visit Hanoi in the near future, and Lee requested his attendance at the upcoming Asia-Pacific Economic Cooperation (APEC) summit, which is scheduled to be held in the historic southern city of Gyeongju this fall. 2025-08-11 14:37:35

Third-largest South Korean ethylene producer on brink of going bust SEOUL, August 11 (AJP) - Petrochemical company Yeochun NCC (YNCC) is on the brink of default due to financial insolvency amid industry downturns. According to industry sources on Sunday, the country's third-largest ethylene producer is likely to go bust if it fails to secure 310 billion won (about $223 million) in operating funds by Aug. 21. The company has suffered prolonged losses due to an oversupply of ethylene feedstock from China. The joint venture was established in 1999 by Hanwha Group (Hanwha Solutions) and DL Group (DL Chemical), which hold a 50 percent stake each. Talks between the two shareholders to provide a lifeline to YNCC have begun, but they remain deadlocked over their differences. Hanwha's board of directors decided late last month to inject an additional 150 billion won (about $108 million) into YNCC as part of rescue efforts that also includes operational restructuring through production cuts. It believes that if it can secure a combined 300 billion won (about $216 million) along with DL Group, YNCC could avoid default and obtain sufficient funds to operate through the end of this year, when Korea Development Bank's foreign currency guarantees and asset-backed loans will be renewed. DL Group, however, reportedly insists that significant restructuring must come first before any loan can be considered. Since both shareholders already injected 100 billion won (about $72 million) each earlier this year, DL remains reluctant to provide further support. To save YNCC, both sides must reach a deal by this week. But prospects remain uncertain due to huge differences over ethylene supply prices and related cash flow concerns. YNCC has been cash-strapped since 2022, with net losses of 347.7 billion won (about $250 million) in 2022, 240.2 billion won (about $173 million) in 2023, and 236 billion won (about $170 million) in 2024, largely due to a prolonged glut caused by oversupply from China. The country's top two players in the petrochemical market, LG Chem and Lotte Chemical, are also struggling, having sold or liquidated assets to weather the downturn. LG Chem posted an operating loss of 90.4 billion won (about $65 million) in the second quarter of this year, while Lotte Chemical recorded an operating loss of 244.9 billion won (about $176 million), marking its seventh consecutive quarterly loss. "Major petrochemical companies' financial health is rapidly deteriorating due to mounting losses. If the government-led massive restructuring plan is not ready, measures such as electricity rate reductions for petrochemical industrial complexes in Yeosu and Ulsan may need to be implemented as soon as possible," said an industry watcher. 2025-08-11 13:45:14

South Korea to send envoys to Indonesia SEOUL, August 10 (AJP) - A handful group of lawmakers will visit Indonesia this week to strengthen biliteral relations with the Southeast Asian country, presidential spokesperson Kang Yu-jung told reporters on Sunday. Led by Cho Jeong-sik of the ruling Democratic Party, the group will head to Jakarta for a three-day visit starting Monday. The move is part of broader diplomatic efforts by President Lee Jae-myung, who has sent special envoys to various Asian and European countries to signal South Korea's diplomatic restoration with his inauguration in early June, after a political turmoil caused by former disgraced President Yoon Suk Yeol's botched Dec. 3 declaration of martial law last year. During the visit, Cho will meet with senior Indonesian government officials and deliver a letter from Lee to Indonesian President Prabowo Subianto. Their discussions are expected to cover a broad range of issues including ways to boost mutual exchanges and enhance cooperation through the Association of Southeast Asian Nations (ASEAN). Indonesia, a key member of the 10-nation ASEAN bloc, has been South Korea's largest arms export market in East Asia. 2025-08-10 16:02:31

Son Heung-min makes MLS debut for LAFC SEOUL, August 10 (AJP) - Striker Son Heung-min made his Major League Soccer (MLS) debut for Los Angeles FC (LAFC) on Saturday, just days after finalizing his transfer from Tottenham Hotspur. Son's earlier-than-expected debut was anticipated after he was included among the substitutes for the MLS club's away match against Chicago Fire FC. At SeatGeek Stadium in Bridgeview, Illinois, Son came onto the pitch in the 61st minute to replace Venezuelan forward David Martínez, with LAFC trailing 2-1. About 20 minutes later, his burst of energy helped the team earn a crucial penalty that led to an equalizer, and the match ended in a 2-2 draw. MLS praised Son, calling him the "Tottenham and South Korean legend" who "came off the bench for LAFC and made an immediate impact." After ending his 10-year stint with Spurs in the English Premier League, Son signed a record MLS deal worth around US$26 million last Wednesday to join the American club. His contract runs through 2027, with two one-year renewal options. 2025-08-10 14:53:30

KAIST develops AI that designs optimal cancer-targeting drugs without prior molecular data SEOUL, August 10 (AJP) - KAIST scientists have unveiled an artificial intelligence model that can automatically design potential drug molecules precisely tailored to disease-causing proteins, even when no prior information about suitable molecules is available. The breakthrough could speed up drug discovery and cut costs, especially for hard-to-treat cancers. Traditionally, drug development starts by identifying a target protein, such as a cancer cell receptor, then screening vast libraries of molecules to find one that binds effectively to block its harmful activity. This process is time-consuming, expensive, and has a low success rate. The new KAIST system, called "BInD" (Bond and Interaction-Generating Diffusion model), skips the trial-and-error search by generating both the molecular structure and the way it interacts with the target protein in a single step. The team, led by Kim Woo-youn of KAIST's Department of Chemistry, designed BInD to create molecules that satisfy multiple drug design requirements at once, such as stability, physical properties, and structural realism. Most existing AI models generate molecules separately and then evaluate how they might bind to proteins. BInD instead considers the protein–molecule binding process from the start, boosting the chances of producing effective and stable candidates. The AI uses a "diffusion model", the same approach that underpinned the 2024 Nobel Prize in Chemistry for the AlphaFold3 system for protein–drug structure prediction. Unlike AlphaFold3, which predicts atomic positions directly, BInD integrates knowledge-based chemical guidelines, such as bond lengths and distances between atoms, to ensure its generated molecules follow real-world chemical laws. The researchers also developed an optimization strategy that reuses strong binding patterns found in earlier AI-generated results, enabling the system to improve output without additional training. Using this method, the team successfully designed molecules that selectively target mutant forms of EGFR, a protein linked to certain cancers. This work builds on the group's previous AI models, which required pre-defined information on how molecules should bind to proteins. BInD removes that dependency, learning the key binding factors on its own. "This AI can understand and learn the essential elements for binding to a target protein, enabling it to design optimal drug candidates without prior molecular information," said Kim. "It has the potential to transform drug discovery by making it faster, more precise, and more reliable." The findings, co-authored by doctoral candidates Lee Joong-won and Jeong Won-ho as first authors, were published on Jul. 11 in the journal Advanced Science under the title "BInD: Bond and Interaction-Generating Diffusion Model for Multi-Objective Structure-Based Drug Design." 2025-08-10 12:05:00