Blockchain expert says adoption in banking is shifting toward financial infrastructure SEOUL, February 06 (AJP) - Global financial institutions are increasingly viewing stablecoins and tokenized deposits as essential infrastructure rather than speculative assets, according to Xin Yan, co-founder and chief executive officer of Sign, a blockchain technology company. This shift is driven by the demand for programmable money that can function natively on-chain. Unlike traditional fiat currency, which relies on fragmented legacy systems, on-chain assets allow for direct settlement, payments, and collateralization without the need for manual intervention. Earlier concerns regarding the technical resilience of blockchain networks have largely subsided. The infrastructure supporting stablecoins has been tested through multiple market cycles and real-world applications. The primary challenges remaining are legal and regulatory, as many jurisdictions have yet to establish frameworks that recognize digital representations of sovereign currency. Xin Yan expects 2026 to bring significant regulatory clarification, moving the industry from debating the existence of these assets to integrating them into the formal monetary system. To scale these systems, financial institutions must bridge the gap between asset settlement speed and compliance verification. While blockchain transactions occur in seconds, identity and compliance checks often still rely on manual processes. The immediate priority for governments and institutions is the transition of identity and entity proofs into digital, verifiable credentials. This digitization allows records to be accessed and verified on-chain instantly, matching the speed of the underlying assets. The long-term role of these technologies is the comprehensive digitization of the global financial system. Whether through stablecoins, tokenized deposits, or central bank digital currencies, the objective is to remove friction from capital movement. Xin Yan notes that successful implementation will likely be invisible to the general public. Instead of focusing on the underlying blockchain technology, users will experience faster business operations and instant money movement. This efficiency is intended to increase the turnover of capital and improve the fluidity of global trade. Trust remains a central factor in the adoption of on-chain systems. For large banks, enterprise blockchain networks offer a more transparent and easier-to-track environment than legacy ledgers. These systems allow for layered data access, ensuring that information is shared only with authorized parties. By moving information flow onto a blockchain, banks can reduce maintenance costs and eliminate the need for large teams to reconcile different ledgers. The automated and transparent nature of these records also makes fraudulent activity more difficult to execute, potentially strengthening the existing trust advantage held by traditional financial institutions. 2026-02-06 14:59:11

HD Hyundai Electric posts 2025 operating profit of 995.3 billion won, up 48.8% HD Hyundai Electric said Thursday it posted 2025 revenue of 4.0795 trillion won and operating profit of 995.3 billion won, up 22.8% and 48.8% from a year earlier. Sales of power equipment, driven by overseas markets, rose 29.7%. The company cited expanding AI-related industries and rising investment in high-power infrastructure such as data centers, with strong conditions continuing in its key North American market. Revenue in Europe climbed 38.3% from a year earlier and accounted for more than about 10% of total sales. Annual orders totaled US$4.274 billion, exceeding its full-year target of US$3.822 billion. The order backlog rose 21.5% to US$6.731 billion, strengthening its medium- to long-term growth base. A company official said HD Hyundai Electric has already secured more than three years of backlog as global investment in power infrastructure increases. The official said the company will focus on strengthening partnerships, including reserving production schedules with key customers, rather than aggressively expanding orders, to manage external risks such as exchange rates and raw material prices, and will continue a selective order strategy centered on profitability.* This article has been translated by AI. 2026-02-06 14:54:20

South Korea in talks with UNC for more access to DMZ SEOUL, February 6 (AJP) - South Korea is in close consultations with the U.N. Command (UNC) on ways to effectively manage the Demilitarized Zone (DMZ), the Ministry of Defense said on Friday. The development comes as South Korea reportedly proposed managing the southern side of the heavily fortified zone, which extends 2 kilometers south of the demarcation line separating the two Koreas. South Korea is seeking civilian access to more areas on the southern side of the front line, which have been under the UNC's jurisdiction since the 1953 armistice that ended the Korean War. But the UNC apparently opposed the proposal, saying it could make it difficult to maintain peace and stability in the buffer zone. South Korea currently have to obtain permission from the UNC whenever it needs to bring in heavy equipment for construction work, while some tourism projects remain halted. The ministry said it has been holding working-level talks with the UNC to manage the areas more efficiently since Defense Minister Ahn Gyu-baek assumed his post in July last year. 2026-02-06 14:37:04

Kazakhstan unveils draft of new constitution for nationwide referendum SEOUL, February 06 (AJP) - The Embassy of the Republic of Kazakhstan has released details regarding a new draft constitution that proposes a comprehensive transformation of the nation's political and legal framework. Initiated by President Kassym-Jomart Tokayev, the reform moves beyond simple amendments to establish a new governance model that will be finalized through a nationwide referendum. The push for a new constitution follows a proposal made by President Kassym-Jomart Tokayev during his Address to the Nation on September 8, 2025. A 130-member Constitutional Commission, including legal experts, civil society representatives, and government officials, reviewed more than 2,000 public proposals submitted via digital platforms. Because the revisions affected 77 articles—roughly 84 percent of the existing document—the commission elected to draft an entirely new text to reflect the country's evolving political landscape. At the core of the proposed changes is a fundamental restructuring of the legislative and executive branches. The draft establishes a unicameral parliament, known as the Kurultai, consisting of 145 deputies elected through a proportional representation system for five-year terms. This system is intended to strengthen the institutional development and accountability of political parties. Additionally, the reform introduces the position of vice president, who will represent the president in dealings with various domestic and international organizations. Legal protections for citizens are significantly expanded under the new draft. It enshrines the Miranda rule and the presumption of innocence into the constitution while prohibiting the retroactive application of laws that impose new burdens on citizens. The document also introduces specific protections for the legal profession and intellectual property. In the digital sphere, the constitution for the first time addresses the protection of citizens' rights within the digital environment, reflecting a shift toward prioritizing human capital and innovation. Social and values-based provisions are also clarified in the 95-article text. The draft reinforces the secular nature of the state by clearly separating religion from government and public education. It defines marriage as a voluntary and equal union between a man and a woman, a move framed as a measure to protect traditional values and strengthen the legal protection of women's rights. The preamble now identifies human rights and freedoms as the highest priority of the state, serving as the guiding principle for all subsequent articles. The drafting process involved open broadcasts of commission meetings to maintain public transparency. While the new text marks a significant departure from the previous governance structure, the draft acknowledges the role of the existing constitution in the history and state-building of Kazakhstan. Public consultation remains open through the e-Otinish and eGov digital platforms. The Constitutional Commission is continuing its work to refine the draft before the document is put to a final vote by the citizens of Kazakhstan. 2026-02-06 14:27:11

SK Biopharm posts record profit on strong US sales of epilepsy drug SEOUL, February 06 (AJP) - SK Biopharmaceuticals said on Friday that its operating profit more than doubled last year to a record high, driven by strong U.S. sales of its epilepsy drug cenobamate. The drugmaker reported consolidated operating profit of 203.9 billion won for the year, up about 112 percent from a year earlier. Revenue rose 29.1 percent to 706.7 billion won, while net profit increased 11.6 percent to 253.3 billion won. Cenobamate, marketed in the United States under the brand name Xcopri, generated U.S. sales of 630.3 billion won for the year, up around 44 percent. The company said the drug was the main driver of the profit surge and also delivered about 27 billion won in annual royalty income. Monthly prescriptions for cenobamate in the United States reached about 47,000 in December. In the fourth quarter, total prescriptions rose 6.8 percent from the previous quarter and 29.2 percent from a year earlier. Fourth-quarter revenue increased 19.2 percent year-on-year to 194.4 billion won, while operating profit fell 34 percent to 46.3 billion won. The company attributed the quarterly decline in profit to year-end seasonality and inventory in transit, despite steady prescription growth. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-06 14:17:44

Koreans' overseas stock buying nearly matches current account surplus SEOUL, February 06 (AJP) - South Korean purchases of overseas stocks tripled from a year earlier to a record high last year, nearly matching the country’s record current account surplus, according to central bank data released on Friday. Preliminary balance-of-payments figures from the Bank of Korea (BOK) showed South Korean residents bought $114.3 billion worth of foreign equities in 2025, up $72.2 billion from the previous year. That amounted to 92.9 percent of the country’s record current account surplus of $123 billion. By investor type, asset managers, securities firms and insurers accounted for $42.1 billion in overseas equity purchases, while public institutions, including the National Pension Service, bought $40.7 billion. Individual investors purchased $31.4 billion in foreign stocks. However, when overseas exchange-traded fund investments made through asset managers are included, total direct and indirect overseas equity investment by individuals is estimated to exceed that of public institutions, Kim Young-hwan, head of the BOK’s Economic Statistics Department, said. The central bank views the trend as a structural factor influencing the won's weakness. Kim said the surge in overseas stock investment last year “offset a significant portion” of the impact stemming from the large current account surplus, Kim said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-06 13:55:35

Hanwha pitcher Moon Dong-ju left off 2026 WBC roster with shoulder injury This series takes a closer look at issues involving players on the field, using interviews, records and career context. <Editor’s note> Hanwha Eagles pitcher Moon Dong-ju has been left off South Korea’s roster for the 2026 World Baseball Classic in March because of a shoulder injury.  The Korea Baseball Organization announced the WBC roster on Thursday at the Korea Press Center in Seoul, with national team manager Ryu Ji-hyun and KBO Strengthening Committee chairman Cho Kye-hyun in attendance. Moon’s absence drew attention because he had been included in the team’s first training camp last month in Saipan. Ryu said Hanwha notified him on Jan. 30 that Moon’s shoulder condition was not good. “He was preparing for a bullpen session, but we were told the pain actually got worse,” Ryu said, explaining the decision to exclude him. Moon is scheduled to visit a hospital on Friday, and the results could shape Hanwha’s season.  Hanwha signaled a win-now push in free agency by signing Kang Baek-ho to a four-year deal worth up to 10 billion won. The club also retained Son Ah-seop — described as the KBO’s all-time hits leader — on a one-year contract worth 100 million won. After finishing as runner-up last season, Hanwha’s lineup depth has improved.  But the pitching staff faces clear holes compared with last year. Foreign starters Cody Ponce (Toronto Blue Jays) and Ryan Weiss (Houston Astros) left for the United States, and left-hander Kim Beom-su moved to the Kia Tigers as a free agent. Hanwha added foreign pitchers Wilkel Hernandez and Owen White, and selected Wang Yen-cheng under the league’s newly introduced Asia quota, but questions remain about how much they can cover those losses — especially with Moon, expected to fill a No. 3 or No. 4 starter role, now hurt.   The severity of Moon’s injury is still unknown, but shoulder problems are often viewed as more difficult for pitchers than elbow injuries. Even if he returns, concerns remain that he could lose velocity or effectiveness. Hanwha’s title chances are expected to hinge in part on how quickly Moon recovers.   2026-02-06 13:15:00

LIG Nex1, L3Harris Begin Developing Weather Payload for Cheollian Satellite 5 LIG Nex1 said it has begun developing a weather payload for the geostationary meteorological and space-weather satellite Cheollian Satellite 5 with L3Harris, a global space and defense company. The company said Friday that it held a project kickoff meeting on Feb. 4 (local time) at L3Harris’ site in Fort Wayne, Indiana, formalizing a cooperation framework between the two companies. The Cheollian Satellite 5 program is designed for a private company, rather than the government, to serve as the lead R&D organization and carry out the full process from satellite design to manufacturing, testing and integration. Under the agreement, L3Harris will handle the payload’s core design and development, while LIG Nex1 will oversee domestic quality control, performance testing and system integration with the satellite bus, the company said. The new payload is expected to significantly improve forecast accuracy and timeliness compared with the currently operating Cheollian Satellite 2A. It will be optimized for observing East Asia, including the Korean Peninsula, and will include hazardous weather tracking and monitoring functions. LIG Nex1 previously signed a 274.5 billion won agreement with the Korea Meteorological Industry Technology Institute to develop the Cheollian Satellite 5 weather payload. A LIG Nex1 official said the partnership is “a strategic cooperation model” that goes beyond a simple technology transfer by integrating advanced space technology into South Korea’s development system and building expertise. The official said it will serve as a key foundation for expanding localization and strengthening technological self-reliance in next-generation satellite programs.* This article has been translated by AI. 2026-02-06 12:57:00

Korea's record C/A surplus pales by near-tripling capital outflows SEOUL, Feb. 06 (AJP) -The black figure in South Korea’s current account stretched to a monthly high in December and an annual high for 2025 thanks to red-hot chip sales, but the bulk of the gains went to defending the Korean currency against rapid depreciation and funding outbound investments, data showed. According to data released by the Bank of Korea on Friday, the current account in December recorded a surplus of $18.7 billion, an increase of more than $6 billion from the previous month. This marked the largest monthly surplus on record. For the full year, the surplus reached $123.05 billion, also rewriting the all-time high. Much of the glow fades when the data is set against the financial account, which measures capital flows. The financial account posted net asset increases of $23.77 billion in December, more than doubled from a year earlier, and $119.76 billion for full-year 2025, compared with $96.87 billion in 2024, implying that much more Korean money flowed out than in. The current-account surplus was driven largely by exports, which rose more than 13 percent to $69.54 billion. Chips were the primary earner, with exports expanding 43.1 percent to about $20.92 billion. Information and communication technology devices, including mobile phones, also performed strongly, rising 24 percent to $4.77 billion. Petroleum product exports reached $4.24 billion, up 6 percent from a year earlier, following a four-week improvement in refining margins through late December and a year-end surge in demand. Ships, once a pillar of export growth through October, fell 3 percent to $2.89 billion, marking a second consecutive month of decline. Automobile exports, which exceeded $6 billion in November, slipped back to $5.59 billion. Major automakers such as Hyundai and Kia have entered “contingency plans” as inventories subject to a potential 25 percent tariff under U.S.-Korea trade negotiations hit the market. Steel products also remained sluggish. Although the decline narrowed from November’s 6.3 percent drop, exports still fell 1.7 percent to $4.02 billion. Home appliance exports slid 8.1 percent to $560 million amid competition from cheaper Chinese products. Imports totaled $57.37 billion, up 4.6 percent from a year earlier. The decline in raw material import prices, which hovered around 8 percent in November, slowed sharply to just 1 percent. This reflected the won’s weakness, which averaged 1,467.3 per dollar in December, and rising prices for selected items. While crude oil imports fell 14.4 percent to $5.59 billion and gas dropped 33.4 percent to $2.03 billion, mining imports surged. Mineral imports rose 22.3 percent to $2.55 billion, while other metals, including rare earths, climbed 11.8 percent to $1.55 billion. The largest increase was seen in consumer goods, which jumped 17.9 percent to $9.72 billion. Durable goods, in particular, surged 30.8 percent to $4.37 billion, reflecting soaring prices for smartphones and computers as general-purpose chips were diverted to the AI business-to-business market, along with rising imported car sales. The problem is that much of the money earned has failed to build wealth at home. Investment income reached a record $30.17 billion in 2025, up $1.47 billion from a year earlier. Dividend income accounted for more than two-thirds of the total, at $20.19 billion. But the devil is in the details. In December, outward securities investment by residents rose 17.2 percent to $14.37 billion, with equities accounting for $11.83 billion. In contrast, inward investment by foreigners fell to $5.68 billion from $5.81 billion in November, with just $410 million flowing into stocks and the remainder into bonds. For full-year 2025, outbound securities investment reached $140.3 billion, nearly triple the $52.54 billion invested in local securities by foreigners. Direct investment showed a similar trend. Outward investment rose $6.49 billion, while inward foreign investment increased by only $5.17 billion. The gap, however, narrowed sharply from October, when outbound investment was nearly ten times larger than inbound. For 2025, outbound direct investment reached $41.23 billion, nearly tripling the $15.8 billion invested in Korea by foreign entities. It is little wonder that Korea’s pledge of up to $350 billion — including about $200 billion in cash — to the United States has weighed on the won, despite strong exports and a buoyant stock market. Reserve assets fell $4.44 billion in December, compared with a $1.69 billion increase in November. The country’s foreign exchange reserves fell $2 billion in December and $2.15 billion in January as authorities intervened to support the won and curb import-driven inflation through currency swap arrangements with the National Pension Service. As of 10:15 a.m. Friday, the won was trading at 1,470.2 per dollar, down 1.2 won from the previous close. After stabilizing briefly near the 1,420 level earlier this month, the currency is again facing renewed weakness. 2026-02-06 12:10:58

Inside the Final Road Tests for South Korea’s 2026 Car of the Year Engines were already roaring early in the morning at the final on-road evaluation for the 2026 Korea Car of the Year. At the Korea Automobile Testing & Research Institute (KATRI) proving ground in Hwaseong, Gyeonggi Province, the finalist vehicles lined up in the parking area at regular intervals. In the first round, 18 vehicles from 10 domestic and overseas brands advanced to the final list. After holding a regular general meeting that morning, members of the Korea Automobile Journalists Association moved straight to the track for the road tests. The evaluation ran across four courses: a high-speed circuit, a steering-handling course, an automatic emergency braking test and a special durability road. About 40 reporters split into two groups and rotated through the vehicles for side-by-side comparisons. The first vehicle tested by a reporter on site was Kia’s PV5. On the special durability road, which features rough pavement, the focus was on suspension performance and body response. Though it is a relatively compact boxy vehicle, it absorbed bumps steadily, and cabin noise was not pronounced. Next was Hyundai Motor’s Ioniq 9. Its stable driving, supported by the low center of gravity typical of electric vehicles, stood out. One reporter riding along said, “An expensive car delivers what you pay for.” At K-CITY, a test facility at KATRI designed to replicate South Korean road conditions, reporters conducted automatic emergency braking tests. They drove at 30 kph without touching the brake to see whether the vehicles would stop in front of a dummy. Most vehicles stopped normally, though drivers occasionally hit the brake out of tension. Steering performance tests followed, with vehicles pushed through sharp turns to check handling. Despite a short course with consecutive curves, the finalists showed stable performance. High-performance models such as the Mercedes-AMG GT, Audi RS e-tron GT and Hyundai Ioniq 6 N were especially notable. The highlight for many was the high-speed course. On a banked track, drivers increased speed to as much as 200 kph to assess high-speed capability. The BMW Touring M5, with its distinctive green exterior, showed quick responses backed by a powerful engine. The Land Rover All New Defender Octa maintained a heavy, planted feel at speed. Because the final round compressed high-speed driving, steering, automatic emergency braking and durability into a single day, the atmosphere remained tense throughout. The final results will be announced at the “2026 Korea Car of the Year” awards ceremony on Feb. 26 at the Sebitseom Convention Hall in Banpo, Seoul. 2026-02-06 11:54:00