Latest by
-
Paris Baguette Raises Prices on 127 Bakery and Cake Items by Average of 5% Paris Baguette will increase prices on some products due to rising ingredient and operational costs. This marks the first price adjustment in 18 months since February 2025.Starting on August 25, Paris Baguette will gradually raise prices on select bread, cakes, and desserts, the company announced on August 14.The price increase will affect 86 types of bread and 41 types of cakes and desserts, with an average increase of 5.0%. For example, the recommended retail price of Sangmi Whole Wheat Bread will rise from 3,900 won to 4,100 won, a 5.1% increase. Castella will go from 2,400 won to 2,500 won, a 4.2% increase, while the My Number One Cake will increase from 35,000 won to 36,000 won, a 2.9% rise.A representative from Paris Baguette stated, "We have had to adjust prices due to unavoidable increases in ingredient and operational costs."Meanwhile, the bakery and donut industry has seen a wave of price increases. B.R. Korea, which operates Paris Baguette, raised prices on 39 Dunkin' donut items by an average of 6.5% starting August 2. CJ Foodville, which operates Tous Les Jours, also increased the recommended retail prices of 76 items by an average of 8.2% as of July 31.* This article has been translated by AI. 2026-08-14 16:08:00 -
S. Korea delivers first upgraded PKMR Batch II patrol craft to Navy SEOUL, August 14 (AJP) - South Korea delivered the first Geomdoksuri-B Batch II fast patrol craft to the Navy on Friday, strengthening its frontline maritime capabilities near the Northern Limit Line, the de facto inter-Korean sea border. The Defense Acquisition Program Administration (DAPA) held a delivery ceremony at HJ Shipbuilding & Construction’s Yeongdo shipyard in Busan on Friday. The Geomdoksuri-B program is designed to replace the Navy’s aging Chamsuri-class patrol killer medium (PKM) vessels. DAPA completed the Batch I program from 2017 to 2022 and began the Batch II program in 2022. The first Batch II vessel was launched in 2025 before undergoing sea trials. The upgraded vessel retains the same major equipment as its Batch I predecessor but features improvements to its combat system, operability and electronic warfare capabilities. In particular, control and firing functions for its 130mm guided rocket system and 12.7mm remote weapon system have been integrated into the ship’s combat system. Its anti-jamming capabilities have also been strengthened to improve resistance to electronic warfare. The vessel is also equipped with a 76mm naval gun, search and tracking radars, electronic warfare equipment and naval tactical data communications systems, according to DAPA’s equipment diagram. “The first Geomdoksuri-B Batch II vessel has overwhelming on-site response capabilities that will deter enemy provocations,” said Choi Sang-deok, head of DAPA’s naval ship program division. After completing the Navy’s operationalization process, the vessel will be deployed to waters near the NLL for territorial defense missions. DAPA plans to deliver three additional Batch II vessels to the Navy by the end of 2026. AJP Takeaways: · South Korea delivered the first Geomdoksuri-B Batch II fast patrol craft to the Navy on Aug. 14, 2026. · The upgraded vessel features integrated 130mm guided rockets, a 12.7mm remote weapon system and stronger anti-jamming capabilities. · Three more Batch II patrol craft are scheduled for delivery by the end of 2026. 2026-08-14 16:07:46 -
Korean National Assembly Speaker Meets Bill Gates to Discuss Global Health Cooperation Cho Jung-sik, Speaker of the National Assembly, met with Bill Gates, Chairman of the Gates Foundation, on August 14 to discuss strengthening partnerships with global health organizations, including the Gates Foundation. He emphasized that global health will be a key agenda in parliamentary diplomacy.The two leaders held a closed-door meeting for about 35 minutes at the National Assembly. During the meeting, Cho stated, "I understand that the Gates Foundation has been making significant efforts to integrate AI into health, education, and agriculture. The National Assembly of Korea has also enacted the world's second AI Basic Law, which has been in effect since January of this year, and we are working to ensure that the benefits of AI are accessible to all, without inequality or exclusion."This visit marks Gates' return to South Korea after a year, having previously visited in August 2025 to emphasize international cooperation in health. Cho noted, "The World Bio Summit will be held in Korea this October, and I have heard that the Gates Foundation will open an office in Korea by the end of the year. This will provide an opportunity for the National Assembly to further strengthen partnerships with global health organizations, including the Gates Foundation, and prioritize global health in parliamentary diplomacy."In response, Gates expressed gratitude for the National Assembly's interest in global health and acknowledged Korea's contributions to global health initiatives. He added, "The foundation is currently building close partnerships with various Korean companies to prevent global pandemics, and I hope that our collaboration will deepen in the future." 2026-08-14 16:04:00
-
Kim Yoon-deok Apologizes for Rising Housing Prices, Plans to Announce 73,000 New Homes in October Kim Yoon-deok, the Minister of Land, Infrastructure and Transport, expressed regret over the recent rise in housing prices and rental costs in the metropolitan area, emphasizing the need to expedite housing supply measures. He announced plans to reveal the locations for 73,000 new public housing units as early as October and intends to meet with Seoul Mayor Oh Se-hoon soon to address differences regarding the release of greenbelt land and development in Yongsan.Additionally, a reform plan for the Korea Land and Housing Corporation (LH) will be unveiled in September, with a focus on centralizing the second relocation of public institutions around existing innovation cities rather than distributing them regionally.During a press briefing on August 14 marking his first anniversary in office, Minister Kim stated, "We aim to make the announcement regarding the new public housing sites by October."The government had announced a plan the previous day to stabilize the rental and sales markets by quickly supplying housing, proposing the creation of over 100,000 new public housing districts in metropolitan areas, particularly near transit stations and on idle land. Among these, the locations for 27,000 units in three districts, including Gangseo in Seoul and downtown areas in Namyangju and Gwangju, were prioritized for immediate disclosure, while the remaining 73,000 units will be announced later.Minister Kim noted, "The 73,000 units are ready for announcement as discussions with local governments have concluded, and only administrative procedures remain. We plan to ensure the announcement is possible by early October."He added that there are also additional housing units where negotiations with local governments are 80-90% complete, stating, "We will announce these as soon as the discussions are finalized, although there are still variables in the negotiations regarding the scale of additional supply.""Maximizing Cooperation with Seoul City... Prioritizing Consensus Over Legal Authority"Minister Kim indicated that he would meet with Mayor Oh Se-hoon as early as August 20 to further reconcile differences regarding housing supply issues.When asked whether the greenbelt could be released without the consent of the Seoul city government, he acknowledged, "There are no legal or institutional restrictions on this matter," adding, "We believe we can proceed with public housing districts based on legal grounds."However, he emphasized the importance of collaboration between the Ministry and the city government, stating, "We must work together to narrow our differences to avoid causing public anxiety while advancing housing supply. We cannot simply proceed on our own because we have the authority, nor can we allow the government to appear inactive if the city opposes us."Minister Kim also mentioned that the government has accepted eight out of ten regulatory improvement proposals requested by the city regarding housing supply. However, he expressed caution regarding the relaxation of private development density and the transfer of membership rights in reconstruction and redevelopment projects.He stated, "Relaxing private development density and transferring membership rights could stimulate housing prices, and if multiple redevelopment projects are pursued simultaneously, it could lead to concentrated demand for demolition and relocation. We must carefully manage the timing and volume of these projects to avoid further adverse effects."In response to criticisms that the government is being passive regarding redevelopment projects, he clarified, "Reconstruction and redevelopment are crucial tools for housing supply policy, and we will continue to provide necessary support to accelerate these projects.""Considering Opening Entire Yongsan Park for Housing Supply"The possibility of utilizing the Yongsan Park site for housing supply has also been officially considered. Minister Kim stated, "We are looking at the entire Yongsan Park, not just the narrow concept of the Yongsan Children's Garden, to explore feasible options," indicating that while no decisions have been made, all possibilities will be discussed through social dialogue and consultations with relevant agencies.The government also plans to continue discussions with the city regarding the expansion of housing supply in the Yongsan International Business District. Initially planned for about 6,000 units, the government is seeking to increase this number to around 10,000, while the city maintains that only an additional 800 units can be accommodated.Minister Kim remarked, "We need to reconvene with the mayor to confirm and discuss the scale of the Yongsan International Business District," suggesting that some issues could be resolved through a dialogue where both sides make concessions."Serious Housing Price Increases... Apologizes for Inability to Resolve Supply Issues"Meanwhile, Minister Kim apologized for the worsening instability in housing prices and rental markets in the metropolitan area over the past year. He stated, "I view the simultaneous rise in both sales and rental prices as very serious, and I feel sorry for not being able to resolve the real estate issues as Minister."He identified the main causes of the recent price increases as a lack of housing supply, abundant liquidity in the market, interest rates, and market sentiment. He particularly highlighted the significant drop in construction starts in recent years due to project financing instability and rising construction costs.Minister Kim noted, "Recent non-apartment supply has remained at only 20-30% of past levels," emphasizing that reviving non-apartment supply entities to provide diverse housing types in the shortest time possible is key to addressing rental issues. He added, "We will ensure that this supply plan does not become merely a verbal commitment or a showy announcement, but rather a comprehensive government effort.""LH Reform Plan to Be Announced in September... No 'Distribution' for Public Institution Relocation"The LH reform plan, initially scheduled for the first half of the year but postponed, is expected to be announced next month. Minister Kim stated, "The main framework of the LH reform plan has already been largely disclosed, and the decision-making process has been delayed. It will be finalized in September."He emphasized the need to strengthen LH's capabilities to accelerate housing supply, stating, "We are focusing on enhancing and developing its functions rather than downsizing LH."The second relocation of public institutions will also be pursued with a focus on 'concentration and integration' around existing innovation cities. Minister Kim remarked, "We will not relocate public institutions as if distributing them like pieces of cake to different regions. Except for very special cases, we will focus on relocating to innovation cities, allowing anchor companies and research institutions to move together to create synergistic effects."Regarding the relocation of administrative agencies, he noted, "The President has directed that we aim to reduce the number of institutions remaining in Seoul to zero unless there are special circumstances, and we will carry out this process fairly through necessary procedures such as public hearings and consultations with labor unions."* This article has been translated by AI. 2026-08-14 16:00:20
-
Ottogi second-quarter net profit falls 2.7% as margins tighten SEOUL, August 14 (AJP) - Ottogi, one of South Korea's largest food manufacturers, announced that its second-quarter net profit fell 2.7 percent from a year earlier, as rising costs squeezed margins even though sales climbed on the back of instant noodles and stronger overseas demand. According to regulatory filings released Friday, net profit for the April to June period came to 33.2 billion won ($23.4 million). Revenue rose 4.6 percent to 943.8 billion won and operating profit edged up 0.3 percent to 45.3 billion won, but the operating margin slipped 0.2 percentage point to 4.8 percent. Overseas sales jumped 15.1 percent to 110.6 billion won, lifting their share of the total to 11.7 percent. "Domestic sales grew, led by our instant rice and cup noodle lines, and exports also increased," said an Ottogi spokesperson, pointing to the drivers behind the quarter's top-line gains. For the first half, operating profit rose 2.0 percent to 104.6 billion won as revenue climbed 4.2 percent to 1.9 trillion won and net profit gained 1.3 percent to 68.3 billion won. Overseas sales for the six months grew 12.3 percent to 220.5 billion won, while the operating margin eased 0.1 percentage point to 5.5 percent. Shares of Ottogi closed at 337,000 won per stock, up 3.22 percent from the day before. AJP Takeaways • Ottogi's second-quarter net profit fell 2.7% despite a 4.6% rise in sales, showing that cost pressure — not weak demand — is the drag on earnings. • Overseas sales jumped 15.1% in the quarter and now account for 11.7% of the total, signaling that exports, not the saturated domestic market, are driving growth. • The operating margin slipped to 4.8%, a sign that Korean food makers may face tougher pricing and cost decisions in the second half. 2026-08-14 15:55:56 -
Hanwha Systems to equip ROK Navy support ships with EO/IR systems SEOUL, August 14 (AJP) - Hanwha Systems will install new electro-optical and infrared observation systems on four Republic of Korea Navy support and rescue ships, expanding technology originally developed for military helicopters into naval applications. The company said Friday that it signed a contract with the Defense Agency for Technology and Quality in July and has begun development. The project covers one logistics support ship, two surface rescue ships and one submarine rescue ship. The new EO/IR equipment is intended to improve the ships' ability to identify objects at sea and navigate safely at night or in poor weather. Unlike combat vessels, which are generally equipped with electro-optical tracking systems, support and rescue ships were not originally designed with such equipment, making operations more difficult when visibility is limited. To overcome space limitations on existing vessels, Hanwha Systems will adapt technology from its Target Acquisition and Designation System (TADS) developed for South Korea's Light Armed Helicopter program. The system's compact and lightweight design makes it suitable for retrofitting onto ships that were not originally built to carry electro-optical equipment. TADS is used on helicopters for reconnaissance, target detection, identification and engagement. Hanwha Systems said the system has already met military standards and demonstrated reliability in operating environments ranging from minus 35 degrees Celsius to 55 degrees Celsius. The company has about 40 years of experience developing electro-optical systems and supplies EOTS and infrared search-and-track systems for ROK Navy combat vessels. AJP Takeaways: · Hanwha Systems and TTA will jointly develop an AI-based 5G tactical communications network. · The system will integrate terrestrial, satellite and other non-terrestrial networks for seamless military communications. · The partnership also targets global defense markets by aligning technologies with 3GPP and NATO standards. 2026-08-14 15:54:13 -
BTS' 'FAKE LOVE' tops 1.4 billion YouTube views SEOUL, August 14 (AJP) - K-pop supergroup BTS' music video for "FAKE LOVE" has surpassed 1.4 billion views on YouTube, adding another long-running catalog hit to the group's list of billion-scale videos. The video crossed the mark at around 3:46 p.m. KST, according to the agency. "FAKE LOVE" is the sixth BTS music video to reach 1.4 billion views, following "Dynamite," "Boy With Luv," "DNA," "MIC Drop" and "IDOL." Released in May 2018, "FAKE LOVE" became one of the defining tracks of BTS' "LOVE YOURSELF" era. The song blends grunge rock guitar with trap rhythm, using a darker sound to frame the realization that a love once believed to be fate was built on illusion. The track was the lead single from "LOVE YOURSELF: Tear," the album that made BTS the first K-pop act to top the Billboard 200. "FAKE LOVE" also entered the Billboard Hot 100 at No. 10 and reached No. 42 on the U.K. Official Singles Chart, marking one of BTS' early major chart breakthroughs outside Korea. The 1.4 billion-view mark comes as BTS continues the North American leg of its "ARIRANG" world tour. The milestone also underlines the staying power of BTS' pre-"Dynamite" catalog, with "FAKE LOVE" continuing to draw viewers more than eight years after its release. AJP Takeaway · BTS' "FAKE LOVE" music video surpassed 1.4 billion views on YouTube at around 3:46 p.m. KST, BigHit Music said Thursday. · It is BTS' sixth music video to reach 1.4 billion views, after "Dynamite," "Boy With Luv," "DNA," "MIC Drop" and "IDOL." · Released in May 2018, "FAKE LOVE" was the lead single from "LOVE YOURSELF: Tear," BTS' first Billboard 200 No. 1 album. · The song reached No. 10 on the Billboard Hot 100 and No. 42 on the U.K. Official Singles Chart at release. 2026-08-14 15:52:45 -
Hyundai Motor Group teams with musician KIRARA SEOUL, August 14 (AJP) - Hyundai Motor Group has released an electronic track produced with Korean musician KIRARA, using music to depict the process of turning raw material into a finished vehicle through the company's manufacturing technology. The track, titled "Temper", was released Thursday on Hyundai Motor Group's official YouTube channel and major streaming platforms, including Melon, Bugs, Spotify, Apple Music and YouTube Music. The song opens with an ambient passage suggesting the untapped potential of raw material, gradually layers in beats as a car body takes shape, then settles into a clearer sound by the end to mark the vehicle's completion. To capture the precision of that process, KIRARA drew on ambient techno, layering in glitch textures and breakbeat rhythms. Hyundai Motor Group said the release is part of an effort to present its work — spanning robotics, software-defined vehicles and other areas beyond traditional manufacturing — in a more accessible format. KIRARA, active since 2014, has released five full-length albums. Her sound blends delicate melodies with contrasting emotions, drawing on 1990s British dance music and 2000s Japanese electronic music. She performs her own compositions live using computers and MIDI controllers more than 30 times a year at clubs and festivals in Korea and abroad, including the Pentaport Rock Festival, the Venice Biennale in Italy, SXSW in the U.S. and Spain's Primavera Pro. In February, she won Best Electronic Album at the 23rd Korean Music Awards for her fifth album, "KIRARA" — her second win in the category, after "moves" in 2017. "Working on this piece to express Hyundai Motor Group's new technologies felt like a continuous sense of wonder, similar to when I first learned synthesizing as a young musician," KIRARA said. "I wanted to capture both the precision of that advanced technology and the feeling I had encountering it, through music with the same precision." Hyundai Motor Group said the collaboration draws on KIRARA's experimental work in Korean electronic music to give shape to the process behind its innovation. The company plans to release a video later this month showcasing new manufacturing technology set to the track. AJP Takeaway · Hyundai Motor Group released "Temper," an electronic track made with Korean musician KIRARA, on Thursday across YouTube and major streaming platforms. · The track translates the process of refining raw material into a finished vehicle into sound, using ambient techno, glitch textures and breakbeat rhythms. · Hyundai Motor Group is using the collaboration to present work in robotics, software-defined vehicles and manufacturing innovation through music. · KIRARA won Best Electronic Album at the Korean Music Awards in February for her fifth album, "KIRARA," following an earlier win for "moves" in 2017. 2026-08-14 15:51:12 -
Frieze Seoul to be Held at DDP Next Year, Kiaf at COEX Frieze Seoul will take place next year at the Dongdaemun Design Plaza (DDP). This decision was announced on the 14th, citing the renovation plans for COEX.Designed by Zaha Hadid and opened in 2014, DDP is one of Korea's leading cultural spaces and a major landmark in Seoul. The Frieze Seoul event at DDP will feature a carefully curated layout that enhances the visibility of each gallery and presentation.Additionally, various programs associated with Frieze Seoul will extend throughout the city. Events like 'Neighborhood Night' will take place in key gallery districts, broadening the interaction between galleries, museums, artist-run spaces, and visitors during Frieze Week.The partnership between Frieze Seoul and Kiaf Seoul will continue. In 2027, both fairs will be held at DDP and COEX, respectively, but both parties plan to maintain their collaboration for the benefit of the Korean art community and its audience. On the same day, they signed a memorandum of understanding (MOU) to ensure cooperation and joint development over the next two years. Even with separate events next year, they intend to continue various forms of collaboration, including joint programs, promotions, and integrated ticketing.Patrick Lee, director of Frieze Seoul, stated, “DDP is an iconic architectural structure that symbolizes Seoul and serves as a unique cultural space. We expect DDP's distinctive architecture and more concentrated layout will provide new possibilities for participating galleries.”* This article has been translated by AI. 2026-08-14 15:48:00
-
T-Plus Expands Multilingual Services to Cater to Foreign Customers T-Plus, the budget mobile brand of Korea Cable Telecom (KCT), a subsidiary of Taekwang Group, announced on August 14 that it has launched a multilingual service on its website for foreign customers.The service provides menu descriptions, banner texts, and activation procedures in over 10 languages, including English, Japanese, Chinese, and Vietnamese. Users can access the service by clicking a flag-shaped button on the website.This allows foreign customers to check service information, including pricing plans, and complete the online activation process in their preferred language. T-Plus explained that it has been expanding related services since June due to an increase in new foreign customers.To enhance brand recognition, T-Plus is also running advertisements on subway screen doors. The ads will be displayed in Korean and English at 100 locations across 14 major subway stations in Seoul, including City Hall, Seongsu, Sinsa, Apgujeong, Express Bus Terminal, Gwanghwamun, and Itaewon.In light of the summer vacation season, T-Plus is offering discounts for family customers and has partnered with stores like Olive Young and Daiso for additional services. The customer service center aims to connect customers with representatives within an average of five minutes.Lee Jae-seok, CEO of KCT, stated, "We are expanding customer touchpoints to ensure that a diverse range of customers, including foreign clients, can easily and conveniently access our communication services. We will continue to strengthen services for foreign customers and enhance our brand recognition."Meanwhile, the number of foreign residents in South Korea is also on the rise. According to the Ministry of Justice, as of the end of June, there were 2,874,278 foreign residents in the country, a 5.2% increase compared to the same month last year. Among them, long-term residents, including registered foreigners and those with foreign nationality residing in Korea, accounted for 2,234,982, or 77.8% of the total.* This article has been translated by AI. 2026-08-14 15:44:00