KOSPI catches its breath after two-week rally SEOUL, January 20 (AJP) - South Korea's benchmark KOSPI pulled back on Tuesday, ending its year-opening rally, as selling pressure in major technology and auto shares outweighed gains in select growth and thematic stocks. The index fell 0.4 percent to close at 4,885.8, snapping a 13-session winning streak that included a series of record highs. Despite the pullback, it briefly climbed to an intraday high of 4,935.48, extending its run of fresh peaks before momentum faded in later trading. The KOSPI 200 dropped 0.8 percent to 708.5, reflecting pronounced weakness among large-cap constituents. By contrast, the tech-heavy KOSDAQ outperformed, rising 0.8 percent to 976.4, near the 980 level and its highest point in four years, highlighting the growing divergence between the main board and smaller, theme-driven stocks. On the KOSPI, institutional investors were heavy sellers, offloading a net 606.1 billion won ($410 million), more than offsetting net purchases by individuals of 352.5 billion Korean won and foreign investors' buying of 79.3 billion won. Foreign investors extended their buying streak to a fourth consecutive session, while retail investors ended a six-day run of net selling that had persisted since Jan. 12. On the KOSDAQ, institutional investors dominated buying with net purchases of 284.4 billion won, while retail investors offloaded 260.4 billion won. Foreign participation remained subdued, with only a marginal net inflow of 1.8 billion won. Semiconductor giants pulled the index lower as profit-taking intensified amid ongoing concerns about global trade tensions and potential U.S. tariffs. Samsung Electronics slid 2.75 percent to 145,200 won, while SK hynix dropped 2.8 percent to 743,000 won, both underperforming after sharp rallies earlier this month. Hyundai Motor fell 3.02 percent to 479,000 won, adding to the index's losses. Trading was more mixed for other stocks, with Naver rising 2.5 percent to 244,000 won, defying the broader decline. Robotics-related shares remained in focus, with Doosan Robotics surging 9.7 percent to 118,100 won. Samsung SDI gained 3.8 percent to 326,000 won, leading advances among battery-related stocks. Thematic trading continued beneath the surface. Shares linked to nuclear power plant decommissioning surged 8.4 percent, while the aerospace sector climbed 7.8 percent, reflecting sustained investor appetite for policy- and technology-driven growth areas even as blue-chip stocks cooled. The Korean won weakened to 1,479 per dollar, down 4.5 won from the previous session, tracking broader dollar strength. Across Asia, sentiment was subdued. Japan's Nikkei 225 fell 1.1 percent to 52,991.1 as fiscal concerns and rising bond yields weighed on technology shares, while China's Shanghai Composite edged down 0.009 percent to 4,113.7. 2026-01-20 17:56:29

More young Koreans abandon job searches: BOK SEOUL, January 20 (AJP) - The number of economically inactive or “idled” young people in South Korea has risen sharply, with a growing share abandoning job searches, underscoring mounting risks to the country’s long-term growth potential, the central bank said on Tuesday. According to a report from the Bank of Korea (BOK), the proportion of the idled population within the economically inactive group climbed to 15.8 percent in 2025, up from 12.8 percent in 2019. The trend is most pronounced among young people, where the idled share surged to 22.3 percent last year from 14.6 percent in 2019. The report showed that the number of idled individuals with prior work experience jumped 32.5 percent over the period, rising from 360,000 in 2019 to 477,000 in 2025. By contrast, the number of young people without any work experience who fall into the "NEET" category — not in education, employment or training — remained broadly unchanged at around 100,000. The data suggest that those who have already entered the labor market are increasingly likely to exit and fail to return. The number of so-called “resting” youth — individuals who reported having no desire to work — also rose sharply, reaching 450,000 last year, a 56.8 percent increase from 287,000 in 2019. While people with an associate degree or lower continue to account for about 60 percent of the idled youth population, the number of university graduates and those with higher education who are “just resting” has been steadily increasing, the BOK said. The central bank found a strong link between prolonged unemployment and permanent labor market exit. Each additional year of unemployment raises the probability of a young person becoming idled by an average of 4 percent, while reducing the likelihood of finding a job by 3.1 percent. “The increase in the idled youth population poses a risk of shrinking the long-term labor supply and weakening South Korea’s potential growth,” the BOK report said. “As the likelihood of labor market exit rises with the length of unemployment, it is crucial to implement measures that prevent prolonged stagnation among job seekers.” 2026-01-20 17:45:24

Uzbekistan president calls for results-oriented diplomatic shift SEOUL, January 20 (AJP) - Uzbek President Shavkat Mirziyoyev called for a fundamental restructuring of the country's diplomatic missions on January 15, urging ambassadors to pivot from traditional political representation to aggressive economic advocacy and the protection of citizens abroad. Speaking at an expanded meeting of the Ministry of Foreign Affairs, Mirziyoyev said the shifting geopolitical landscape and increasing threats to state sovereignty require a "new generation" of diplomats capable of delivering concrete outcomes rather than just managing relations. "In the current environment, an ambassador is not just a person who conducts political dialogue," Mirziyoyev said. "An ambassador is a state representative who attracts investment and technologies, opens new export markets, launches transport and logistics corridors... and, most importantly, protects the rights of our citizens." The president emphasized that future performance evaluations for heads of diplomatic missions will rely on specific key performance indicators. These include the volume of export revenues generated from their host countries, the growth of tourist flows to Uzbekistan, and the effective organization of legal labor migration. Reviewing the previous year, Mirziyoyev noted that 2025 was productive for Uzbekistan's foreign policy. Foreign trade turnover exceeded $80 billion for the first time, with exports reaching $33.5 billion and foreign investment topping $43 billion. The country also established strategic partnerships with 11 additional nations, bringing the total to 19. Despite these figures, the president criticized the underutilization of existing potential. He pointed to the failure to secure available international funding, estimating that better coordination between ministries and embassies could have attracted an additional $200 million to $300 million in grants last year. Mirziyoyev also highlighted the negative impact of rising logistics costs on the competitiveness of domestic products. He instructed diplomats to work on diversifying transit routes and optimizing supply chains, particularly to reduce transportation costs for goods entering European markets. The meeting also addressed the welfare of Uzbek citizens working abroad. Mirziyoyev directed embassy staff to abandon "office diplomacy" and establish direct dialogue with compatriots, ensuring qualified legal assistance is available for labor migrants. To formalize these shifts, the president announced the need to update the Concept of Foreign Policy of the Republic of Uzbekistan. The revised document will reflect long-term goals in economic diplomacy, security, transport logistics, and climate issues. "The time has come for a new generation of diplomats – those who achieve concrete results and firmly defend the interests of Uzbekistan in the international arena," Mirziyoyev said. To recognize effective service under these new standards, the president proposed the establishment of a new state award, the title of "Honored Diplomat of the Republic of Uzbekistan." 2026-01-20 17:39:48

Most powerful cold wave of winter hits South Korea SEOUL, January 20 (AJP) - An intense cold wave gripped the Korean Peninsula on Tuesday, coinciding with Daehan, the final of the 24 traditional lunar terms marking the peak of winter. Temperatures plummeted below minus 10 degrees Celsius across the greater Seoul area and Gangwon Province, prompting authorities to issue cold wave advisories for most of the country. In the capital, the morning wind chill factor plunged to a staggering minus 18 degrees Celsius, marking the coldest day recorded so far this winter. The biting conditions forced commuters to bundle up in heavy layers as the city faced its most severe sub-zero stretch of the season. The Korea Meteorological Administration predicted that the frigid conditions will persist through the weekend. 2026-01-20 17:13:58

FM to visit Turkey, Belgium this week SEOUL, January 20 (AJP) - Foreign Minister Cho Hyun will visit Turkey and Belgium later this week, the Ministry of Foreign Affairs said on Tuesday. "Cho will travel to Turkey on Wednesday for talks with his Turkish counterpart Hakan Fidan," the ministry's deputy spokesperson Lee Moon-bae, said during a press briefing in Seoul. The meeting is part of follow-up steps after President Lee Jae Myung's state visit to Turkey in November last year. Cho is expected to discuss progress on key bilateral projects in nuclear energy, defense, biotechnology, and infrastructure. Cho will then head to Belgium the following day for talks with Kaja Kallas, vice president of the European Commission. The two sides are expected to discuss key regional issues including Greenland, which has drawn international attention following U.S. President Donald Trump's repeated pressure over the Danish territory. Cho is also scheduled to meet with Belgian Deputy Prime Minister David Clarinval. The two are expected to discuss ways to expand cooperation and exchanges to mark the 125th anniversary of diplomatic relations between the two countries this year. 2026-01-20 16:59:38

Korea Exchange cleans out zombie stocks as KOSPI rallies to new heights SEOUL, January 20 (AJP) - South Korea’s stock market is extending its red-hot rally into the new year while quietly pushing out near-defunct companies, using favorable market momentum to rationalize both its main and secondary bourses. According to data from the Korea Exchange (KRX) as of Tuesday, five companies — Pureunsonamu, Intromedic, Well Biotec, Kukbo and PharmAbcine — are currently undergoing delisting procedures. Of the five, Well Biotec and Kukbo are listed on the KOSPI, while the remaining three trade on the KOSDAQ. Including NKMAX, which was delisted earlier this month, and AMCG, which entered liquidation on the dormant KONEX board, the total number of exits from the Seoul bourse in January rises to seven. Such activity is highly unusual for January, traditionally considered a grace period as deadlines for annual audit reports typically fall in March. In the history of South Korea’s securities market, liquidation trading in January has occurred only twice — Seunghwa Pretech in 2016 and SL Energy in 2025. Outside of those exceptions, there have been no recorded cases of January liquidation trading. The cleanup reflects a broader government-led initiative to remove non-viable firms from the market. A year ago, the Financial Services Commission (FSC) and the KRX unveiled a sweeping reform plan covering initial public offerings and delisting procedures. The most notable change was a significant streamlining of the delisting review process. Under the revised framework, authorities eliminated the second stage of the traditional three-tier review system — which previously consisted of a Corporate Review Committee followed by two consecutive Market Committees. As a result, the maximum delisting review period has been cut in half, from four years to two. In addition, companies receiving a “disclaimer of opinion” from auditors for two consecutive years are now subject to immediate delisting without a grace period. From this year through 2028, listed companies must also meet progressively higher thresholds for market capitalization and revenue to retain their listings. KOSPI-listed firms are required to maintain a minimum market capitalization of 50 billion won ($33.8 million) and annual revenue of 20 billion won, while KOSDAQ-listed firms must meet thresholds of 30 billion won in market capitalization and 7.5 billion won in revenue to avoid delisting review. The primary driver behind the regulatory overhaul was the rapid deterioration of the tech-heavy KOSDAQ market. Data from the Bank of Korea and the KRX show that the proportion of so-called “marginal firms” — commonly referred to as zombie companies that fail to generate sufficient operating profit to cover interest expenses — on the KOSDAQ rose nearly 50 percent, from 16.5 percent in 2021 to about 24.5 percent in 2025. While the KOSPI has historically been subject to stricter oversight, the share of marginal firms on the main board also increased from 9.8 percent to an estimated 11.2 percent over the same period. The combined market average is now approaching the 20 percent threshold, a level exceeded only by U.S. markets. This trend contrasts sharply with regional peers: Japan’s Nikkei 225 maintains a marginal-firm ratio below 15 percent, while Taiwan’s TAIEX remains below 10 percent. The weak quality of listed firms has long been cited as a key driver of the so-called “Korea Discount,” discouraging foreign investor inflows and prompting the government’s more aggressive intervention. Market experts say tighter listing and delisting standards are likely to support the ongoing rally. “There is a clear expectation that stricter delisting criteria will restructure the market around healthier companies,” said Na Jeong-hwan, a researcher at NH Securities. “When the government unveiled its KOSDAQ support measures late last year, attention focused on the potential for market normalization through the exit of distressed firms.” Indeed, the KOSDAQ index rose about 10.3 percent in January last year following the initial announcement of tougher standards. After a renewed pledge on Dec. 19 to accelerate the removal of zombie firms, the index has gained more than 6 percent as of Tuesday’s close, suggesting that prolonged inaction on non-viable companies had been a major drag on investor sentiment. “Establishing clear guidelines for managing distressed firms could have a positive impact not only on the KOSDAQ but across the entire securities market, including the KOSPI,” Na added. Still, skepticism remains over whether the latest measures will translate into sustained enforcement. “The government has repeatedly announced plans to manage and clean up distressed firms, but those statements have rarely resulted in meaningful action,” said Kim Hak-kyun, head of research at Shinyoung Securities. “We need to watch closely whether this policy produces tangible results," said an official at the KRX, speaking on condition of anonymity. On Tuesday, the KOSPI closed at 4,885.75 and the KOSDAQ at 976.37. Compared with the same day a year earlier, the KOSPI has nearly doubled, posting a 94 percent gain, while the KOSDAQ has risen more than 34 percent. 2026-01-20 16:58:55

'Dancing, Dreaming, Enlightening' showcases Korean fashion art SEOUL, January 20 (AJP) The Seoul Museum of Craft Art is holding a special donation exhibition, "Dancing, Dreaming, Enlightening," showcasing the artistic world of Geum Key-sook, a pioneer of Korean fashion art, through March 15. The exhibition traces the creative journey of artist Geum Key-sook, who has built a unique domain of "fashion art" over 40 years by crossing boundaries between fashion and fine art, tradition and contemporary practice. Geum is recognized as a figure who established the concept of fashion art in Korea and spread it internationally by reinterpreting the concept of "art clothing" in a Korean context in the early 1990s. Geum also served as costume director for the 2018 PyeongChang Winter Olympics, garnering attention for designing the "snow fairy" costumes worn by placcard bearers during the opening ceremony. The artist has built a distinctive body of work utilizing unconventional materials such as wire, beads, nobang (ramie fabric), sequins, and recycled materials. She is particularly credited with expanding the horizons of fashion art by extending clothing into both "Art to Wear" and sculptural art that composes space. The exhibited works present themes of artistic expansion, coexistence, and enlightenment in various formats, ranging from individual garments to large-scale spatial installations. Through this exhibition, artist Geum Key-sook has donated a total of 55 items (56 pieces) worth approximately 1.31 billion won(about 887,413 dollars) to the Seoul Museum of Craft Art. The donation includes early fashion art experimental works, signature wire dresses and hanbok sculptural pieces, recent upcycling projects, and archival materials. 2026-01-20 16:57:19

Park Chan-wook's "No Other Choice" emerges as Korea's biggest U.S. box-office hit SEOUL, January 20 (AJP) - Park Chan-wook’s No Other Choice has become the highest-grossing Korean film ever released in the United States, surpassing the box-office record set by Bong Joon-ho’s Parasite and reinforcing the commercial viability of Korean noir among American audiences. After more than three decades of shaping South Korean cinema for global viewers, Park is registering his first major North American box-office breakthrough. No Other Choice, a dark comedy centered on a laid-off paper factory manager who systematically eliminates his rivals, is not only the director’s most successful release in South Korea but is now posting record results in the U.S. market. The achievement marks a new commercial milestone for the filmmaker best known for Oldboy and The Handmaiden. Distributed by Neon — which also handled Parasite — the film expanded nationwide to 695 U.S. theaters on January 16 following a limited Christmas release in five major cities. According to Box Office Mojo, it earned an estimated $888,000 on its first day of wide release, placing it in the national top ten. It is the first Korean film to do so since Parasite six years ago. In South Korea, No Other Choice has already surpassed all of Park’s previous works, grossing $4.2 million and exceeding Oldboy’s lifetime domestic total. Strong word of mouth among urban audiences and select IMAX screenings suggest the film may represent Park’s first sustained crossover with mainstream viewers. “Every A-list filmmaker I know talks about Director Park as someone who inspired them,” said Neon CEO Tom Quinn. “Oldboy changed my entire career. I’ve been waiting twenty years to work with him again.” “A Parasite for the AI Era” Despite its dark humor and satirical edge, Park has emphasized that the film’s core concern is the erosion of identity in an age of automation and economic displacement. “Everything in this film has to do with the loss of confidence of a man who has been fired,” Park told the Financial Times following the premiere. “This is a person who has maintained his self-worth only as someone who has a job. When such a person loses his profession, it leads to a complete loss of confidence. He feels like he is no longer a man.” The film stars Lee Byung-hun as a middle-aged manager whose position at a Busan paper factory is eliminated by its U.S. owners. In an effort to reclaim dignity and purpose, he redirects his managerial discipline toward murder. “The intensity of Man-su’s confidence, both as a father and a husband, is proportional to the number of successful murders he commits,” Park said. “That progression as a man goes hand in hand with the growth of his talent as a murderer.” Park describes this moral inversion with what he calls “mathematician’s precision,” though the film itself is marked by restraint rather than excess. He has characterized No Other Choice as “brutally, comically straightforward,” a departure from the complex narrative structures of his earlier work. The film is adapted from Donald E. Westlake’s 1997 novel The Ax, a project Park had considered for nearly two decades. Initially developed as a U.S.-based production — at one point for Netflix — the film was relocated to Korea following the success of Decision to Leave. “Because I began writing the script as an American film, much of the preparation focused on that version,” Park said. “But the story proved universal. Whenever I shared it abroad, people responded the same way: ‘This is our story.’” Global Resonance and Industry Reflection Premiering at the Venice Film Festival to a nine-minute standing ovation and later winning the International People’s Choice Award in Toronto, No Other Choice has come to symbolize a tentative revival for Korean cinema amid prolonged domestic uncertainty. “Due to the pandemic, audiences forgot about movie theatres,” Park said. “Korean culture peaked with Parasite and Squid Game, and immediately afterward we saw a steep decline in our industry.” Now shortlisted for the 2026 Academy Award for Best International Feature, the film’s trajectory from Venice to Hollywood challenges prevailing pessimism about Korea’s box-office slump. Actor Park Hee-soon captured the mood bluntly at a press conference, remarking, “Now it seems like if you only do film work, you’ll starve to death.” Park views the film’s success with measured unease. Its final image — a factory operating entirely without workers — points toward a future shaped by automation. He describes it as “a possible artificial intelligence filmmaker directing AI-generated actors.” “At the moment, it’s still abstract,” he said. “But I do believe it will become a danger for filmmakers as well. And I’m quite certain it’s approaching at remarkable speed.” 2026-01-20 16:56:52

AI memory becomes security concern in Korea as HBM leaks to China rise SEOUL, January 20 (AJP) - High-bandwidth memory (HBM), a critical component powering artificial intelligence chips, is emerging as a national security concern in South Korea as technology leaks involving advanced semiconductors increasingly flow to China amid intensifying global competition in AI. The National Police Agency said industrial espionage investigations last year led to the arrest of 378 suspects, including six detentions, in cases involving advanced technologies such as AI-related semiconductors. According to data released by the National Office of Investigation, authorities detected 179 technology-leakage cases in 2025, including 33 involving overseas transfers. More than half of those overseas cases — 18 incidents, or 54.5 percent — were linked to China, followed by Vietnam, Indonesia and the United States. Among overseas leakage cases, semiconductors accounted for the largest share of strategically sensitive technologies, alongside displays and secondary batteries. Several incidents involved memory-related technologies designated as “national core technologies” under South Korean law. HBM, which stacks multiple DRAM chips to sharply boost data-processing speed, has become indispensable for AI accelerators used in data centers operated by global technology firms such as Nvidia, Amazon, Microsoft and Google. Unlike conventional memory used in smartphones and personal computers, HBM is tightly integrated with graphics processing units (GPUs) through advanced packaging processes, making it difficult to substitute and leaving production highly concentrated among a small group of suppliers. South Korea is home to the world’s two dominant HBM producers — Samsung Electronics and SK hynix — positioning the country at the center of the global AI memory supply chain while also exposing it to heightened security risks. “The scale and frequency of recent technology leaks have raised serious concerns within the industry,” said a Samsung Electronics industry official. “HBM is no longer just a memory product but a core infrastructure technology that determines the performance of AI systems,” said Kim Ki-duk, a professor of semiconductor engineering at Sejong University. Kim said China has made sustained efforts to narrow the technology gap by recruiting experienced engineers with long careers in memory development, adding that accumulated know-how is difficult to contain once engineers cross borders. “Even without physically transferring documents, engineers inevitably carry knowledge acquired through years of work,” he said. Industry officials said the strategic value of HBM has risen sharply as artificial intelligence becomes embedded not only in corporate systems but also in consumer-facing services, driving rapid growth in GPU-based computing. As a result, memory chips are increasingly viewed not merely as electronic components but as infrastructure assets critical to national competitiveness and security. Police data showed that small and mid-sized firms accounted for nearly 87 percent of technology-leakage victims, underscoring vulnerabilities in supply-chain security as advanced semiconductor ecosystems expand. Kim cautioned that while stricter regulations and tougher penalties may slow technology leakage, they are unlikely to halt China’s catch-up efforts entirely. “China’s progress can be delayed, but it will continue,” he said, adding that sustained investment in next-generation memory technologies would be essential for South Korea to maintain its lead. The issue is adding pressure on policymakers and chipmakers as South Korea navigates tightening U.S. export controls, intensifying U.S.-China technology rivalry and growing demands to protect core technologies underpinning its AI-era growth. “Rather than focusing solely on punitive measures, companies and policymakers need to address the root causes driving skilled engineers to leave, including incentives and research environments,” said Lee Soo-jun, a professor of business administration at Sejong University. 2026-01-20 16:53:00

Independent prosecutors allowed to conduct further probes into martial law debacle SEOUL, January 20 (AJP) - President Lee Jae Myung approved a special bill at a Cabinet meeting on Tuesday allowing further investigation into allegations related to disgraced former President Yoon Suk Yeol's botched martial law debacle, as well as a slew of suspicions involving his wife. The approval came after the bill was spearheaded and passed last week by the ruling Democratic Party (DP), which holds a majority of seats in the National Assembly. Independent prosecutors will now be allowed to investigate parts not covered, newly discovered, or insufficiently probed in their previous investigations for up to 170 days. Their probes will cover Yoon's Dec. 3 declaration of martial law in 2024 as well as multiple charges against his wife Kim Keon Hee including accepting bribes such as a luxury handbag and jewelry, involvement in a stock manipulation scheme, and interference in candidate nominations during the 2022 by-elections. After parliamentary nomination, the president will appoint a special prosecutor along with five assistant prosecutors, who can form a team of 15 investigators and up to 130 officials from relevant agencies. After a 20-day preparation period, prosecutors have 90 days to complete their probes. But they may extend them twice by 30 days each, meaning the investigations could last until local elections scheduled for June 3, which some see as a move to sway voters for political gain. 2026-01-20 15:57:03