Senior US defense official to visit Seoul next week SEOUL, January 23 (AJP) - A high-ranking U.S. defense official is expected to visit Seoul next week. Elbridge Colby, the under Secretary of defense for policy, is scheduled to meet with South Korean foreign and defense officials here from Jan. 25 to 27 as part of his Asia trip, which will also include a stop in Japan. The close aide to U.S. President Donald Trump is expected to outline the White House's new security strategy, announced early last month, which urges allies to increase defense spending with a focus on ensuring "America remains the greatest and most successful nation in human history." Key issues on the agenda are expected to include a hike in defense spending, the transfer of wartime operational control, and the development of nuclear-powered submarines. Colby is also expected to emphasize the importance of trilateral military cooperation among South Korea, the U.S., and Japan. 2026-01-23 16:36:30

Italy makes final preparations for Milano-Cortina 2026 Winter Olympics SEOUL, January 23 (AJP) - With about two weeks remaining until the 2026 Milan-Cortina d’Ampezzo Winter Olympics, South Korea’s national team has pledged a strong showing at the Games. The Korean Sport & Olympic Committee held a send-off ceremony for the national delegation on Wednesday at Olympic Parktel in Songpa-gu, Seoul. The Games will feature around 5,000 athletes from more than 90 national Olympic committees (NOCs), competing across eight sports and 16 disciplines. South Korea will send a delegation of about 70 athletes and officials in six sports, aiming to win at least three gold medals. The Winter Olympics will be held from Feb. 6 to 22 (local time) in Milan and Cortina d’Ampezzo, Italy. The main South Korean delegation is scheduled to depart for Italy on Jan. 30. 2026-01-23 16:12:13

BLACKPINK's Jennie opens first solo photo exhibition SEOUL, January 23 (AJP) - BLACKPINK member Jennie is holding her first solo photo exhibition to commemorate her birthday. The exhibition "JENNIE PHOTO EXHIBITION J2NNI5" is running from the 16th to the 29th at YOUTHQUAKE in Jongno-gu, Seoul. The exhibition is particularly significant as Jennie directly participated in the project, capturing her own perspective and sensibility. Rather than showcasing her glamorous on-stage image, the exhibition highlights candid moments of Jennie in unguarded instances. Numerous unreleased photos taken by Korea's top photographers are being revealed, allowing fans to encounter the natural everyday life of 25-year-old Jennie. A photo book released alongside the exhibition comprises 692 pages featuring over 50 different concepts. It includes works not displayed in the exhibition, boasting high collectible value. Fifteen varieties of merchandise have also been prepared to provide fans with a special experience along with the photo book. 2026-01-23 16:07:11

Samsung heir to participate in multinational exercise in Thailand SEOUL, January 23 (AJP) - Lee Ji-ho, the son of Samsung Electronics chairman Lee Jae-yong, will participate in his first overseas combined exercise next month since being commissioned as an ensign in November last year. According to military sources on Friday, Lee junior is expected to be dispatched to Cobra Gold, the largest multinational combined exercise held annually in Thailand since 1982, hosted by the U.S. Indo-Pacific Command. This year's exercise, slated to be held from Feb. 24 to March 6, is expected to be one of the biggest including various drills such as amphibious landings and other operations, with more than 8,000 personnel from 30 countries including about 300 South Korean Navy personnel and marines. Ji-ho, who serves as an interpreter officer, is expected to help facilitate communication among the multinational forces during the exercise. He gave up his U.S. citizenship to fulfill his military duty in South Korea by enlisting as a naval officer candidate in September. After completing 10 weeks of combat training, he was commissioned as an ensign in November, with the entire Samsung family including his grandmother Hong Ra-hee gathering to congratulate him. His rare move drew attention in South Korea, where most scions of conglomerate or chaebol families are mysteriously exempt from mandatory military service. 2026-01-23 16:06:03

ROK army special forces conduct winter survival training SEOUL, January 23 (AJP) - The ROK Army Special Warfare Command announced on Jan. 22 that it has been conducting winter survival training at training grounds in the Hwangbyeongsan area of Daegwallyeong, Gangwon Province, from January through February. The training runs for 11 nights and 12 days for each unit. 2026-01-23 16:06:02

Samsung Electro-Mechanics posts record revenue on AI, auto electronics demand SEOUL, January 23 (AJP) - South Korea's Samsung Electro-Mechanics said Friday growth in artificial intelligence and automotive electronics helped it post the highest annual revenue in its history last year. In a regulatory filing, the company reported consolidated revenue of 11.3 trillion won ($7.7 billion) and operating profit of 913.3 billion won. Revenue rose 10 percent from a year earlier to a record high, while operating profit climbed 24 percent. Fourth-quarter revenue increased 16 percent from a year earlier to 2.9 trillion won, while operating profit more than doubled, rising 108 percent to 239.5 billion won, the company said. Samsung Electro-Mechanics expects continued expansion in AI infrastructure investment and the autonomous driving market this year. A company official said the firm plans to strengthen competitiveness in high-value products, including AI and automotive electronics, while building a mid- to long-term growth base through new businesses such as glass substrates and components for humanoid robots. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-23 15:48:59

Overseas stock buying drives record FX trading in South Korea in 2025 SEOUL, January 23 (AJP) - South Korean banks recorded a sharp rise in foreign exchange trading last year, with average daily volumes hitting a record high as overseas securities investment by residents surged and foreign investors stepped up purchases of South Korean assets. According to a Bank of Korea report released on Friday, average daily foreign exchange trading at domestic banks — including spot and derivatives transactions — totaled $80.71 billion in 2025, up 17 percent from $68.96 billion a year earlier. It marked the highest level since the data series was revised in 2008. The said the increase reflected the continued impact of extended foreign exchange trading hours, as well as a sharp rise in transactions linked to cross-border securities investment by both South Koreans and foreign investors. On a balance-of-payments basis, South Korean residents' overseas securities investment rose 79.2 percent year on year, from $72.2 billion in 2024 to $129.4 billion in the January–November period of last year. Over the same period, foreign investors’ purchases of South Korean securities jumped 129.1 percent, from $22 billion to $50.4 billion. By institution, foreign exchange trading by domestic banks increased 21.2 percent to an average of $37.54 billion per day, while trading by branches of foreign banks rose 13.6 percent to $43.17 billion. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-23 15:32:18

German embassies in Seoul and Tokyo to host amateur League of Legends tournament SEOUL, January 23 (AJP) - The Embassy of Germany in Seoul and the Embassy of Germany in Tokyo have announced a joint esports tournament, ".DE (Diplomacy Meets Esports)," scheduled to culminate in Tokyo this March. The event will gather amateur League of Legends teams from South Korea, Japan, and Germany to compete in a tri-nation format intended to blend competitive gaming with cultural diplomacy. The initiative follows recent major esports events in the host nations, with South Korea hosting the League of Legends World Championship in 2023 and Germany hosting the event in 2024. While South Korea is established as a global powerhouse in the title, producing prominent professional players such as Faker and Showmaker, the tournament organizers noted that gaming infrastructure and player bases in Germany and Japan have seen significant professionalization and growth in recent years. The competition is open to selected amateur gamers. Online regional qualifiers are scheduled for February 7 in South Korea and February 11 in Japan. Registration for these qualifiers runs from January 15 to January 30, with the official rulebook set for release on January 21. An official Discord server will function as the central hub for tournament updates and coordination. The winning teams from the South Korean and Japanese qualifiers will advance to the offline final in Tokyo on March 1. They will be joined by a specially invited team from Germany. The Embassies stated that the project aims to recognize esports as a central component of modern youth culture and to facilitate exchange between digitally native audiences in the three countries. Winners of the regional qualifiers will receive support for travel and accommodation to attend the final in Tokyo. Participation requires parental consent for minors, defined as individuals under 19 in South Korea as of January 30, and under 18 in Japan. The offline final on March 1 will be broadcast live via YouTube and Twitch. 2026-01-23 15:12:57

PM tells US lawmakers Coupang probe 'not discriminatory' SEOUL, January 23 (AJP) - Prime Minister Kim Min-seok, who is currently in Washington, D.C., told U.S. lawmakers that South Korea is not discriminating against e-commerce giant Coupang in its investigation into a massive data leak late last year. His remarks came on Thursday as Kim began his five-day trip to the U.S., starting with a luncheon meeting with several U.S. House members including Young Kim, Ami Bera, Dave Min, Joe Wilson, John Moolenaar, Marilyn Strickland, Michael Baumgartner, Ryan Mackenzie and Young Kim. When asked whether the South Korean government is on a "politically motivated witch hunt" against Coupang in its investigation into the data breach, an issue raised by two U.S. investors, Kim denied any such "discrimination" against the company, adding that he believes that the country's relationship with the U.S. has been built on "sufficient trust" not to worry about such issues. Kim was also quoted as saying, "South Korea does not think immigration raid involving South Korean workers in Georgia was a discrimination case resulting from the fact they were South Korean." He added, "Likewise, no discriminatory actions were taken against Coupang simply because it is a U.S.-listed company." In the meeting, Kim also expressed hope that his visit would "accelerate" the implementation of follow-up measures in tariff-related agreements between the two countries, urging the U.S. lawmakers to continue playing an important role in strengthening the bilateral alliance. Their discussions also included a bill, led by Rep. Young Kim, that would allow up to 15,000 professional work visas for South Koreans and is currently pending in the House. After wrapping up the meeting, Kim visited the Korean War Veterans Memorial to lay flowers later in the day and attended an event to meet with young people and talk about Korean culture. 2026-01-23 14:51:22

Lotte Card raises $300 million overseas via asset-backed securities SEOUL, January 23 (AJP) - South Korea’s Lotte Card said on Friday it has secured about 4.42 trillion won ($300 million) in overseas funding through the issuance of asset-backed securities. The credit card company, part of the Lotte Group conglomerate, said the funding was raised by issuing asset-backed securities (ABS) backed by credit card sales receivables. Societe Generale participated as an investor, and the securities have an average maturity of three years. Lotte Card said the issuance was structured as a social bond, with all proceeds to be used to provide financial services to low-income customers. Since 2021, the company has raised a cumulative 23.1 trillion won in overseas funding through five rounds of issuance, it added. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-23 14:26:25