PHOTOS: Lee's first press conference as president SEOUL, July 03 (AJP) - President Lee Jae Myung, who took office a month ago, held his first news conference as president on Thursday at the Yeongbingwan, the state guest house of Cheong Wa Dae. The conference offered the public and media a glimpse into his policy priorities and governing style. This is a collection of photographs that captured moments from the conference. 2025-07-03 13:23:33

President Lee Jae-myung says cutting off dialogue with N. Korea is 'truly foolish' SEOUL, July 03 (AJP) - President Lee Jae Myung emphasized the importance of diplomacy and communication with North Korea during a press conference held Thursday at the Blue House guesthouse, marking 30 days since his inauguration. "Based on solid South Korea–United States cooperation and coordination, we must work to improve relations with North Korea," Lee said. "Completely cutting off dialogue is really a foolish thing to do." When asked to elaborate on his North Korea policy, Lee said, "Dialogue, communication, and cooperation are really important." He referenced the late President Kim Dae-jung’s Sunshine Policy and added, "Even during war, diplomacy happens. You need to listen, even if you dislike what you hear." "Politics and diplomacy must be handled without emotion and approached with reason and logic," he continued. "Whether in inter-Korean relations, ruling and opposition party relations, or ideological camps, if the goal is not mutual destruction, we need to pursue a path that benefits all. We must reduce tension step by step through dialogue and communication." Lee acknowledged the current challenges in engaging the North, citing deep mistrust and hostility, but expressed cautious optimism following his administration's recent decision to suspend loudspeaker broadcasts across the border. "I was honestly concerned about whether North Korea would respond at all, or how quickly. But they responded much faster than expected. It was beyond what I had anticipated," he said. Addressing public discussions about potentially renaming the Ministry of Unification, Lee explained, "If we talk about unification now, it might be misunderstood as a call for absorption or surrender. That’s probably why there is talk of changing the ministry’s name." He added, "As written in our Constitution, we pursue peaceful unification. This does not mean absorption. Who would want to be absorbed? That would involve immense sacrifice and conflict." Lee concluded that long-term efforts grounded in mutual recognition and cooperation are essential, saying, "Despite the controversy, we need to continue dialogue and cooperation over the long haul. I've already discussed concrete measures with the National Security Office and the National Intelligence Service. I will speak about the outcomes later." 2025-07-03 12:47:05

S. Korea enters final phase of minimum wage talks for next year SEOUL, July 3 (AJP) - South Korea’s Minimum Wage Commission is holding its ninth plenary session at the government complex in Sejong on Thursday to finalize next year’s minimum wage. A final decision could come as early as Thursday night or early Friday morning. The labor side initially demanded a 14.7 percent increase from this year’s hourly wage of 10,030 won ($7.38), proposing 11,500 won. However, it revised its demand down to 11,260 won two days ago during the previous session of negotiation. The business side, which had called for a freeze, raised its offer to 10,110 won. While the gap between the two sides has narrowed from 1,470 won to 1,150 won, no agreement has been reached yet. Labor representatives argue that a significant increase is necessary to ensure a basic standard of living. “With such a low rate of minimum wage increase, it’s hard to guarantee the livelihoods of workers or stimulate domestic consumption,” said Ryu Ki-seop, secretary general of the Federation of South Korean Trade Unions, during the previous session. In contrast, the business side insists that the current minimum wage is already too high and could burden small business owners. “The minimum wage directly affects not only the labor market but the entire economy. It must be decided very carefully,” said Ryu Gi-jeong, executive director of the South Korea Enterprises Federation. “Next year’s minimum wage should be based on what those who already struggle to meet current standards can afford,” he added. If the two sides fail to reach an agreement, public interest commissioners, composed of labor experts and academics, are expected to present a mediation proposal with suggested upper and lower limits. The commission must submit its proposal to the Ministry of Employment and Labor by mid-July. A minister should fix the minimum wage by August 5. 2025-07-03 11:20:22

N. Korea reaffirms nuclear status and blasts S. Korea and US for joint drills SEOUL, July 3 (AJP) - North Korea issued a sharp rebuke on Thursday to the United States over joint military exercises with South Korea and the deployment of strategic assets in the region, calling them “provocative acts” that aggravate tensions on the Korean Peninsula. In an editorial carried by the state-run Rodong Sinmun, Pyongyang claimed that the U.S. has “repeatedly staged acts of provocation” through combined military drills since the end of the Korean War. The paper described such moves as part of Washington’s “unchanging ambition of aggression” toward the North. “If a country is weak, it inevitably becomes the target of invasion and humiliation,” the newspaper said, pointing to unnamed countries as examples. It also warned that “any complacency in strengthening defense capabilities” could threaten both national security and the livelihoods of citizens. The editorial went on to reaffirm the North’s status as a nuclear-armed state, saying the country has “risen as a nuclear power” and has “fundamentally shifted the balance of power in East Asia.” It claimed that a “crack has appeared” in the global order led by imperialist forces. In a separate article, the newspaper criticized NATO’s recent move to raise defense spending to 5% of gross domestic product (GDP) by 2035. The statement comes amid renewed speculation over a possible meeting between former U.S. President Donald Trump and North Korean leader Kim Jong-un. Trump recently said that any “potential conflict” between the two countries could be resolved, referring positively to his personal rapport with Kim. Trump is reportedly considering a visit to South Korea in October during the Asia-Pacific Economic Cooperation (APEC) summit, raising the possibility of an encounter with Kim at the inter-Korean border village of Panmunjom. 2025-07-03 10:55:48

Jungkook sets new records on Spotify as Asia's top solo act SEOUL, July 03 (AJP) - BTS' Jungkook is breaking new ground on Spotify, achieving chart longevity that no other Asian solo artist has reached before. "Seven," his debut solo single released in July 2023, ranked 69th on Spotify's Weekly Top Songs Global chart for the week of June 20 to 26. The track has now spent 102 consecutive weeks on the chart, the longest run ever for a song by an Asian solo artist. His first solo album, "GOLDEN," released in November last year, also landed on Spotify's Weekly Top Albums Global chart at No. 70 in the same period. The record has now charted for 86 weeks straight, another unmatched milestone for an Asian solo act. Despite being in a non-promotional period, Jungkook also maintained a strong presence on the platform’s Weekly Top Artists Global chart, where he has been listed for a total of 109 weeks. "Seven" previously set multiple speed records on Spotify, becoming the fastest song to hit 100 million, 900 million, 1 billion, and 1.1 billion streams. It has now surpassed 2.42 billion streams, the quickest and first track by an Asian soloist to do so. His album "GOLDEN" has accumulated over 5.7 billion streams, the most ever for an album by an Asian solo artist. Jungkook is also the first Asian solo artist to have three tracks exceed 1 billion streams each on Spotify. Those tracks are "Seven," "Left and Right," and "Standing Next to You." 2025-07-03 10:51:16

KCC Group pivots to defense tech, semiconductors as construction falters Editor's Note: This article is the 25th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, July 2 (AJP) - As South Korea’s construction industry struggles with a prolonged downturn, KCC Group, once a stalwart of the sector, is reinventing itself through a bold pivot toward advanced semiconductor materials and high-tech defense applications — an ambitious transformation that may redefine the company’s role in the global supply chain. The conglomerate offered a glimpse of its future in May at PCIM Europe 2025, a leading international trade fair for power electronics held in Nuremberg, Germany. There, KCC showcased a range of semiconductor technologies developed through its U.S.-based subsidiary, Momentive Performance Materials, one of the world’s largest providers of silicone-based solutions. Among the highlights were active metal brazing ceramic substrates — materials that improve bonding between copper circuits and ceramics in high-performance semiconductors — drawing strong interest from global manufacturers. KCC also unveiled direct copper bonding substrates for power modules and new high-reliability encapsulation materials, signaling its intention to become a comprehensive supplier to the semiconductor industry. This shift marks a dramatic evolution for a company whose roots lie in postwar reconstruction. KCC traces its founding to 1958, when Chung Sang-young, the youngest brother of Hyundai Group founder Chung Ju-yung, launched Keumkang Slate Industries. It later merged with Korea Chemical, founded in 1974, to become Keumkang Korea Chemical in 2000. The company rebranded as KCC in 2005 and now anchors a group that includes KCC Glass, KCC Engineering & Construction, and KCC Silicone. KCC’s move into the silicone business began with its acquisition of British firm Basildon in 2011, followed by its 2019 purchase of Momentive, a landmark $3 billion deal that gave it a foothold in the global silicone market. In 2020, KCC spun off its synthetic materials division as KCC Silicone, which now drives nearly half of its business. According to Korea Investor Service, silicones accounted for 45.3 percent of KCC’s revenue in 2024, with paints contributing 27.9 percent and construction materials 16.6 percent. But the group’s traditional strengths have been under pressure. KCC’s first-quarter earnings for 2025 showed revenue rising just 0.7 percent year-on-year to 1.60 trillion won ($1.18 billion), while net income plunged 90.4 percent to 44.1 billion won amid continued weakness in the construction sector. Analysts noted that while the company benefited from strong prices in its silicone division and the removal of one-off costs in coatings, losses in construction materials continued to weigh on the bottom line. In response, KCC is aggressively moving into defense — a sector with demanding technical requirements and growing strategic value. The company has secured contracts with major defense firms including LIG Nex1, Hanwha Aerospace, and Korea Aerospace Industries (KAI), and is working to develop advanced coatings that can withstand extreme heat and corrosion. Among its most ambitious projects: coatings for low-orbit satellites and unmanned aerial combat systems, in collaboration with KAI. Over the past three years, KCC has filed 21 patents for defense-related coatings, out of 50 total applications. The urgency of the transformation was laid bare during a New Year’s address by Chairman Chung Mong-jin, who warned employees that 2025 would bring “the most severe crisis since the Asian financial crisis.” He called for "emergency management" and a sweeping digital overhaul of the company’s operations. “Digital transformation based on data, which is a core asset in the AI era, is essential,” Chung said. “All business processes must be innovated around data.” KCC's high-tech reorientation may prove essential for its survival. A company that once helped build the foundations of modern South Korea is now betting its future on the technologies that will shape the next era of global industry — from next-generation semiconductors to space-based defense systems. 2025-07-03 09:35:48

K-pop band TXT gears up for July comeback with preview of fourth studio album SEOUL, July 02 (AJP) - Tomorrow X Together (TXT), often described as BTS' brother band under Hybe, is ramping up excitement for their return with a full preview of their upcoming album, "The Name Chapter: Together," released via Hybe Labels' YouTube channel at midnight Wednesday. The preview offers a glimpse of all eight tracks from the group's fourth studio album, which officially drops on July 21 at 6 p.m. (0900 GMT). The album marks the final chapter in their "Name" series and carries a message of emotional connection and shared identity. A narration at the start of the video, "So now, I’ll call your name, too," sets the tone for a story about saving each other and the world through true empathy. The lead single, "Beautiful Strangers," is a hip-hop track built on trap rhythms, blending dreamy piano lines with powerful synthesizers. The song paints a picture of personal growth supported by others, and celebrates the beauty of standing out. A member of BigHit Music’s upcoming new group, set to debut later this year, participated in its production. Other tracks include "Song of the Stars," a stadium rock anthem that appeared in a previously released concept trailer, and "Upside Down Kiss," which captures the desire to hold onto love even when facing emotional distance. For the first time in their career, TXT is including solo songs by each member on a group album. Soobin’s "Sunday Driver" delivers a breezy portrayal of quiet moments shared with someone special. Yeonjun’s "Ghost Girl" dives into the feeling of surrendering to an elusive presence. Beomgyu, who also worked on producing his track, explores fulfillment through generosity in "Take My Half." Taehyun’s "Bird of Night," which he co-wrote and composed, offers quiet reassurance to listeners navigating turbulent nights. Huening Kai rounds out the solo efforts with "Dance With You," a song that likens the desire to become more like someone to dancing together. TXT will continue to tease the album with additional track previews from July 3 to July 7. 2025-07-02 17:50:03

Reunited BTS members gear up for new album ahead of return next spring SEOUL, July 2 (AJP) - K-pop boy band BTS will resume group activities next spring with the release of a new album, as all seven members recently reunited after completing their mandatory military service. During a live-streamed event on their platform on Tuesday, the first since their reunion last month, they shared their upcoming plans with fans. "We'll soon start working on the album," said leader RM. "We plan to release it by spring, definitely before summer." He added, "We'll then embark on a world tour to promote the album." The album, expected to be produced in the U.S., will be the band's first release since "Proof," which came out in June 2022. Since their debut in June 2013, BTS have topped the Billboard 200 albums chart six times and achieved six No. 1 hits on the Hot 100 singles chart. 2025-07-02 16:47:54

Nokia promotes AI-powered networks as crucial to Korea's tech future SEOUL, July 2 (AJP) - Finnish telecommunications giant Nokia unveiled its latest suite of AI-powered networking technologies in Seoul, Wednesday, positioning robust network infrastructure — not just graphics processing units — as the true backbone of next-generation artificial intelligence systems. The company showcased its 25G passive optical network (PON) and Ethernet-PON (E-PON) technologies, which promise faster, more scalable internet speeds without the need to replace existing fiber-optic infrastructure — a practical appeal for operators facing mounting data demands. While lauding the South Korean government’s focus on acquiring high-performance GPUs, Nokia Korea’s Chief Technology Officer James Han emphasized that AI innovation cannot thrive without a network capable of handling the vast quantities of data GPUs generate. “The transmission of GPU-processed data is only as strong as the networks that carry it,” Han said, underscoring the importance of end-to-end system performance in AI deployments. President Lee Jae Myung has made AI sovereignty a central plank of his administration’s agenda, pledging to acquire more than 50,000 GPUs and expand domestic data center capacity. His government has also appointed high-profile AI experts to public office, reinforcing South Korea’s ambition to lead in global AI development. “Building an AI ecosystem is key to next-generation digital innovation, and Nokia is delivering on that promise by embedding AI into real-world networks,” said Kevin Ahn, CEO of Nokia Korea. He added that true innovation lies not only in compute capacity but also in minimizing network latency and increasing throughput — both essential to real-time AI applications. Nokia also unveiled its vision for AI-integrated radio access networks, arguing that the convergence of AI and telecom will define the approaching 6G era. With international competition intensifying around sovereign AI capabilities and next-generation mobile standards, Nokia is positioning itself as a key partner in South Korea’s 6G R&D initiatives. The company said it remains committed to helping the country develop the foundational infrastructure needed to maintain its edge in digital innovation. “The real bottleneck in AI is no longer just processing power,” said Han. “It’s how fast and reliably you can move the data.” 2025-07-02 16:38:48

Shilla Duty Free, Paradise City partner to attract foreign tourists SEOUL, July 02 (AJP) - Shilla Duty Free has joined forces with Paradise City, a major integrated resort and casino complex, to launch a collaborative marketing campaign aimed at boosting foreign tourist traffic, the companies announced Wednesday. The agreement outlines a strategic partnership that will combine the two companies’ strengths in duty-free retail and hospitality to enhance services for international visitors. As part of the arrangement, Shilla Duty Free will offer exclusive promotions tied to Paradise City experiences, while Paradise City will provide access to Shilla Duty Free benefits for foreign tourists visiting its resort. The initiative includes a series of perks for Paradise Casino members, who will be eligible for upgraded Shilla Duty Free memberships, prepaid cards redeemable in stores, and discount vouchers. Depending on casino membership status, benefits will extend up to Shilla’s highest-tier “black” membership. 2025-07-02 16:30:47