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  • Police raid state authorities in Jeju Air crash probe
    Police raid state authorities in Jeju Air crash probe SEOUL, August 11 (AJP) - South Korean police investigating the 2024 Jeju Air disaster raided the transport ministry and other aviation authorities Tuesday as part of a widening probe into possible negligence linked to the crash that killed 179 people. A special investigation team began executing search warrants at the Ministry of Land, Infrastructure and Transport, Korea Airports Corp. and the Busan Regional Office of Aviation at around 9 a.m., according to police. Investigators said the searches were aimed at securing additional evidence related to suspected professional negligence resulting in death and injury. The latest raids come as police examine the roles of government agencies and airport authorities in the disaster, including the construction and oversight of a concrete embankment at Muan International Airport that the aircraft struck after overrunning the runway. The special investigation team previously raided the transport ministry in March and again in June. Korea Airports Corp., which operates Muan International Airport, has now been searched twice since the special investigation team was launched. Police are also investigating allegations that the transport ministry sought to downplay or conceal problems surrounding the concrete structure after initially maintaining that it did not violate regulations. Jeju Air Flight 7C2216, a Boeing 737-800 flying from Bangkok, crashed at Muan International Airport in southwestern South Korea on Dec. 29, 2024. The aircraft made an emergency belly landing without its landing gear deployed, overran the runway and slammed into a concrete embankment supporting a localizer, a navigation system that helps guide aircraft during landing. Of the 181 people aboard, 179 were killed. Two flight attendants seated near the rear of the aircraft survived. It was the deadliest aviation disaster on South Korean soil. A preliminary investigation found evidence of bird strikes in both engines. The aircraft's flight data recorder and cockpit voice recorder stopped recording about four minutes before the crash, complicating efforts to reconstruct the final moments of the flight. Scrutiny has increasingly focused on the concrete embankment at the end of the runway and whether it unnecessarily increased the severity of the accident. In March, South Korea's Board of Audit and Inspection found that the 2.4-meter-high embankment had been built in part to reduce earthwork costs without adequate review of relevant safety requirements. International aviation standards generally require structures supporting equipment such as localizers in runway safety areas to be designed to break away upon impact. The official investigation has also faced criticism from victims' families over its pace and independence. South Korea subsequently moved the Aviation and Railway Accident Investigation Board from under the transport ministry to the prime minister's office, with revised legislation taking effect on Feb. 28 to strengthen the body's independence. The investigation was effectively restarted this summer under a newly constituted accident investigation board, more than a year and a half after the disaster, as authorities continue to examine the bird strike, the aircraft and crew response, airport safety facilities and possible regulatory failures. 2026-08-11 10:22:13
  • U.S. Institutional Investors Buy Shares in Chinese Semiconductor Firms
    U.S. Institutional Investors Buy Shares in Chinese Semiconductor Firms U.S. institutional investors are purchasing shares in Chinese semiconductor companies.According to China Fund News, exchange-traded funds (ETFs) managed by U.S. asset management firms are actively including Chinese semiconductor companies. CXMT (Changxin Memory Technologies), China's largest DRAM manufacturer, was officially added to the MSCI China Index on August 10. With this inclusion, the potential influx of passive funds tracking global indices has increased. Based on current market capitalization, CXMT is expected to become the second-largest stock in this index, following Tencent.VanEck, a major U.S. asset management firm, manages the $70 billion semiconductor ETF SMH. In June, VanEck launched the SMHC, which focuses on investing in Chinese semiconductor companies. The SMHC comprises 25 Chinese semiconductor firms. John Patrick Lee, VanEck's senior product manager, stated in a recent interview that "U.S. institutional investors are showing increasing interest in Chinese semiconductors," adding that "CXMT will be included in VanEck's ETF by September."The DISK ETF, which focuses on memory semiconductors, included CXMT on its first trading day, July 27, with a weighting of 10.56%, the highest among U.S.-listed ETFs for CXMT.KraneShares' KSTR is another U.S.-listed ETF investing in Chinese semiconductor companies. As of the end of July, companies like Cambrios, Hygon, and AMEC ranked among the top holdings. The fund's net assets amount to approximately $375 million.China Fund News noted that "U.S. institutional investors have a positive outlook on the Chinese semiconductor industry," and that "Chinese semiconductors are evolving from an industry reliant solely on government policy support to an investment asset attracting global institutional funds."* This article has been translated by AI. 2026-08-11 10:20:00
  • Google overtakes Naver in South Korea on AI feature
    Google overtakes Naver in South Korea on AI feature SEOUL, August 11 (AJP) - Google has overtaken Naver, South Korea's dominant internet portal, in monthly mobile users for the first time, as artificial intelligence (AI) begins to change how Koreans search for information online. The Google app had 47.02 million monthly active users (MAUs) in July, slightly ahead of Naver's 46.85 million, according to Mobile Index data released Tuesday by South Korean data analytics firm IGAWorks. The gap was about 178,000 users, marking the first time Google overtook its local rival since Mobile Index began compiling comparable statistics in March 2021. Google has steadily expanded its reach in the country. Its monthly user base surpassed 40 million for the first time in May last year and 46 million this May. By June, the gap with Naver had narrowed to about 246,000 users, before Google overtook its local rival in July. Naver, by contrast, has seen relatively little change. Its monthly user count has remained between roughly 43 million and 46 million since January 2023. Google's Chrome browser also ranked third, with 42.46 million monthly users in July. The shift comes as the U.S. tech giant rolls out its Gemini AI model and expands AI-powered search features, while generative AI becomes an increasingly common way to find information online. The same trend is even more pronounced with ChatGPT, OpenAI's generative AI chatbot. It had 16.46 million monthly users in July, more than 2.6 times the 6.31 million users of Daum, the country's second-largest homegrown internet portal. That represents a sharp reversal from March last year, when ChatGPT had about 5 million monthly users, trailing Daum's 7.6 million. The chatbot overtook Daum the following month after crossing the 10 million mark and has continued to widen the gap since. ChatGPT, despite its rapid growth, remains far behind both Google and Naver in overall monthly mobile users. AJP Takeaways • Google overtook Naver in monthly mobile users in South Korea for the first time in July 2026, with 47.02 million monthly active users, compared with 46.85 million for Naver, according to IGAWorks' Mobile Index. • Google's lead over Naver was about 178,000 users in July 2026, marking the first time it ranked ahead of South Korea's largest homegrown internet portal since Mobile Index began compiling comparable data in March 2021. • ChatGPT had 16.46 million monthly users in South Korea in July 2026, more than 2.6 times the 6.31 million users of Daum, South Korea's second-largest homegrown internet portal. • Google's Gemini and AI-powered search features, along with the rapid adoption of OpenAI's ChatGPT, point to a shift in how South Koreans find information online, although one month of data is not enough to establish a lasting change in the country's search market. 2026-08-11 10:19:07
  • No special pardon expected for Liberation Day next week
    No special pardon expected for Liberation Day next week SEOUL, August 11 (AJP) - There appears to be no special amnesty for this year's Liberation Day, which falls on Aug. 15 next week. According to legal sources on Tuesday, the Justice Ministry held a meeting for parole assessments the previous day to screen eligible candidates based on their conduct in prison, remaining sentences and risk of reoffending. However, a special pardon which often involves high-profile figures and politicians, is unlikely to be possible this year, given the time left until Liberation Day, as the process takes more than a couple of months and requires Cabinet deliberation and approval before it can be finalized. President Lee Jae Myung last year granted a large-scale special pardon to some 836,687 people convicted of public order offenses on his first Liberation Day in office, shortly after his inauguration in June. Those pardoned included political figures such as Cho Kuk, former leader of the liberal Rebuilding Korea Party and Yoon Mi-hyang, former head of a charity for wartime sex slavery victims. No special pardons were granted afterward, as Lee appeared to see little need for another round of large-scale pardons and skipped occasions such as Christmas, New Year's Day and March 1 Independence Movement Day. AJP Takeaways: - No special pardon is expected for Liberation Day on Aug. 15, 2026, as there is insufficient time to complete the required procedures before the holiday. - The Justice Ministry held a parole assessment meeting on Aug. 10, 2026, screening eligible inmates based on factors including prison conduct, remaining sentences and risk of reoffending. - A special pardon typically takes more than two months to finalize and requires deliberation and approval by the Cabinet, making a Liberation Day pardon unlikely this year. - President Lee Jae Myung granted a special pardon to about 836,687 people in August 2025, shortly after his June 2025 inauguration and ahead of his first Liberation Day in office. - The August 2025 pardon included prominent political figures such as Cho Kuk and Yoon Mi-hyang, while President Lee Jae Myung has not granted another special pardon on occasions including Christmas, New Year's Day or March 1 Independence Movement Day. 2026-08-11 10:17:40
  • Disparities in Debt Levels for Apartment Purchases in Seoul
    Disparities in Debt Levels for Apartment Purchases in Seoul The loan index, which indicates the ratio of mortgage registrations in collective building transactions, varies significantly across districts in Seoul, with Eunpyeong District recording the highest and Gangnam District the lowest.According to an analysis by the real estate information app Zipum on data from the Supreme Court's registration information portal, the average loan index for collective buildings in Seoul's 25 districts in July was 50.47. This marks a decrease of 3.34 points compared to the same month last year (53.81) and a drop of 1.52 points from June (51.99).The loan index is calculated based on the ratio of the amount of mortgages registered to the transaction amount of collective buildings where sales and mortgage registrations occur simultaneously. The actual loan amounts may differ.In July, the highest loan index was recorded in Eunpyeong District at 60.17, followed closely by Geumcheon District at 60.12, Nowon District at 57.75, Dobong District at 57.32, and Guro District at 57.18. In contrast, Gangnam District had the lowest index at 32.54 among the 25 districts.Following Gangnam, Songpa District recorded 36.02, Seongdong District 36.42, Seocho District 36.66, and Gangdong District 42.91, all falling in the lower range. The gap between the highest index in Eunpyeong and the lowest in Gangnam reached 27.63 points.Month-to-month changes also showed mixed movements among districts. Compared to June, 10 districts saw an increase in their loan indices, while 15 experienced a decline. Eunpyeong District had the largest increase, rising 4.48 points from 55.69 to 60.17. Jongno District increased from 49.68 to 52.69, a rise of 3.01 points, and Dobong District rose from 55.18 to 57.32, an increase of 2.14 points.Conversely, Seocho District experienced the largest drop, plummeting 14.73 points from 51.39 to 36.66. Yeongdeungpo District fell from 52.64 to 47.03, a decrease of 5.61 points, and Jungnang District dropped from 60.04 to 55.31, down 4.73 points. Songpa and Gangnam Districts also saw declines of 4.01 points and 3.25 points, respectively.Compared to the same month last year, only Eunpyeong District saw an increase in its loan index, rising 0.28 points from 59.89 in July of last year to 60.17 this July. In contrast, Songpa District fell 14.72 points from 50.74 to 36.02, Seongdong District dropped 11.82 points from 48.24 to 36.42, and Gangdong District decreased 10.81 points from 53.72 to 42.91. Gwanak District also fell from 62.09 to 51.59, a drop of 10.50 points.There were also differences between the average and median values by district. In July, Eunpyeong District had an average loan index of 60.17 and a median of 60.58, with the median being 0.41 points higher. Geumcheon District had an average of 60.12 and a median of 63.90, a difference of 3.78 points. In contrast, Gangnam District's median was 25.49, which is 7.05 points lower than its average of 32.54. This indicates that the distribution of mortgage registration ratios varies across districts.A representative from Zipum stated, "In July 2026, the loan indices for collective buildings were highest in Eunpyeong at 60.17 and Geumcheon at 60.12, while Gangnam had the lowest at 32.54. Eunpyeong saw an increase of 4.48 points from the previous month, while Seocho experienced a drop of 14.73 points, highlighting the varied changes across regions."Additionally, an analysis of the transaction turnover rate for collective buildings by Zipum on data from the Supreme Court's registration information portal revealed that in July, Eunpyeong District had the highest turnover rate at 0.72%, followed by Jungnang District at 0.65%, Gangbuk and Gwangjin Districts at 0.47%, and Dongdaemun District at 0.45%.* This article has been translated by AI. 2026-08-11 10:16:10
  • Jung Jeom-sik Criticizes Government for Amateurish Governance
    Jung Jeom-sik Criticizes Government for Amateurish Governance Jung Jeom-sik, the floor leader of the People Power Party, criticized the Lee Jae-myung government and the Democratic Party on August 11, stating, "They only invoke public sentiment when it suits their amateurish governance while thoroughly disregarding it at other times."During a National Assembly meeting, Jung remarked, "The government and ruling party pushed through the abolition of supplementary investigative powers (Criminal Procedure Act), the Yellow Envelope Act (Labor Union Act), and the Gag Law (Information and Communications Network Act) without regard for the public's concerns and worries."He referenced a previous comment by Han Byeong-do, the acting leader of the Democratic Party, who had responded to the People Power Party's criticism of the government's tax reform plan as 'hasty policy' by asking, "Should we push through a policy once it is set, even when the public points out issues?"In response, Jung agreed, saying, "That is a valid point. It is also true that public sentiment should be the ultimate criterion for judging policies. Therefore, shouldn't we have respected the opinion of over 60% of the public who feel the need for supplementary investigative powers?"He added, "The People Power Party's demand is to maintain policy consistency to enhance the government's credibility and to carefully review important policies before announcing them," urging the government to swiftly devise measures to address the issue of unsold homes in local areas now that the decision to review the tax reform plan has been made.Jung also raised concerns regarding Defense Minister Ahn Gyu-baek's emphasis on Mao Zedong's motto, 'Remain calm in the face of change,' which he claimed was his own motto, during a speech at the Air Force Academy in June.He stated, "The Korean War was an invasion war initiated by Kim Il-sung with Stalin's approval and Mao Zedong's support. It is unacceptable for a defense minister to boast about upholding Mao Zedong's motto in front of cadets when the government cannot even answer who the main enemy is. The defense minister should be dismissed immediately."* This article has been translated by AI. 2026-08-11 10:16:10
  • Lotte Department Store Introduces RCS Messaging System to Combat Fraud
    Lotte Department Store Introduces RCS Messaging System to Combat Fraud Lotte Department Store is set to become the first in the industry to implement the next-generation messaging system, Rich Communication Services (RCS), which significantly enhances multimedia capabilities and security.The company announced on August 11 that it will begin full operations of the RCS messaging system, developed in collaboration with Lotte Innovate and KT, starting this month.RCS is an advanced communication standard that evolves beyond traditional short message service (SMS), long message service (LMS), and multimedia messaging service (MMS). Its key feature is the clear display of a verified corporate logo in the sender's profile, ensuring trustworthiness.Recipients can easily verify detailed information about the company, such as its website, directly from the message window, enhancing the credibility of the source.RCS allows for a richer messaging experience than SMS and MMS, utilizing various content types like images and buttons. Messages sent by verified companies display official logos and brand profiles, confirming the sender's identity.Public institutions, banks, and financial companies are increasingly adopting RCS due to its high trust level.The introduction of RCS is expected to improve customer digital communication convenience. Users can view high-quality images using only the basic messaging app built into their smartphones, without needing to install a separate application. Additionally, action buttons that link directly to websites facilitate one-on-one interactive communication between businesses and customers.Lotte Department Store plans to actively utilize RCS across various customer service touchpoints, including promotional notifications, coupon issuance, and event participation. Furthermore, the company aims to analyze customer response data collected through messages to develop hyper-personalized marketing and enhanced membership services.Choi Sung-cheol, head of the AI Studio at Lotte Department Store, stated, “The introduction of RCS is significant as it strengthens brand trust through the most familiar communication channel for customers—text messaging. We will continue to prioritize customers and proactively pursue digital innovation.”Meanwhile, Lotte Department Store and KT plan to expand their collaboration on various digital services aimed at enhancing customer experience, including AI-based personalized marketing and membership service integration, following the establishment of the RCS system.* This article has been translated by AI. 2026-08-11 10:12:00
  • SK Hynix Becomes Effective Largest Shareholder of Kioxia
    SK Hynix Becomes Effective Largest Shareholder of Kioxia SK Hynix has effectively become the largest shareholder of Kioxia, a Japanese NAND flash semiconductor company.On August 11, Bloomberg reported that Kioxia disclosed in a public filing that its former largest shareholder, Toshiba, reduced its stake in Kioxia from 14.48% to 14.12% as of August 3. This change allowed BCPE Pangea Cayman 2, a special purpose vehicle (SPV) in which SK Hynix holds a 14.19% stake, to become the largest shareholder.BCPE Pangea Cayman 2 was established in 2018 by the U.S. private equity firm Bain Capital to acquire Kioxia from Toshiba Memory, with SK Hynix also participating in the investment. However, last month, Bain Capital sold most of its stake in the SPV, allowing SK Hynix, as the second-largest shareholder, to ascend to the position of largest shareholder in BCPE Pangea Cayman 2.Additionally, Kioxia noted that SK Hynix holds convertible bonds that can be converted into nearly all of the voting shares of BCPE Pangea Cayman 2, effectively making SK Hynix the largest shareholder of Kioxia.In its annual performance report, Kioxia identified SK Hynix as a 'risk factor' due to potential conflicts of interest. However, SK Hynix has stated that it will not hold more than 15% of Kioxia's total voting rights without Kioxia's consent until 2028.Moreover, Chey Tae-won, Chairman of SK Group, indicated during the Nikkei Forum held in Tokyo in June that he prefers collaboration over direct involvement in Kioxia's management.Meanwhile, SK Hynix reported that its non-operating income from investment assets reached 63.27 trillion won in the second quarter, most of which is believed to stem from its investment in Kioxia. This figure exceeds SK Hynix's second-quarter operating profit of 60.54 trillion won. 2026-08-11 10:12:00
  • Yujin Corporation Releases 2025 Sustainability Management Report
    Yujin Corporation Releases 2025 Sustainability Management Report Yujin Corporation, the parent company of Yujin Group, announced on August 11 that it has published its '2025 Sustainability Management Report,' which outlines its achievements in environmental, social, and governance (ESG) management and sustainability strategies.This report, the second since the first was released last year, was prepared in accordance with the GRI (Global Reporting Initiative) Standards 2021. It systematically discloses non-financial performance across environmental, social, and governance areas alongside financial results, providing a comprehensive overview of its ESG management status and key activities.For this year's report, Yujin Corporation has identified safety management and eco-friendly business practices as core issues. The company highlighted its efforts to enhance safety management systems, prioritizing the safety of employees and partners. It also included initiatives aimed at improving business competitiveness through expanded green purchasing and the development of eco-friendly products.In the environmental sector, the report addresses activities related to greenhouse gas and energy management, as well as resource recycling in response to climate change. The social section covers talent and human rights management, supply chain management, information protection, and community engagement activities. The governance section includes achievements in board operations, ethical and compliance management, shareholder value enhancement, and integrated risk management.Notably, Yujin Corporation has strengthened its compliance framework by obtaining certifications for its anti-corruption management system (ISO 37001) and compliance management system (ISO 37301), as well as implementing a fair trade compliance program (CP). These measures establish a management foundation to proactively prevent potential risks such as legal violations and corruption.Moving forward, Yujin Corporation plans to transparently disclose its ESG management activities and achievements through its sustainability management reports while actively communicating with stakeholders to practice responsible management.A company representative stated, "This report includes efforts and achievements to internalize ESG into actual management activities, such as strengthening safety management systems and expanding eco-friendly businesses. We will continue to enhance communication with stakeholders and increase our ESG competitiveness to create a foundation for mutual growth between the company and society."* This article has been translated by AI. 2026-08-11 10:08:00
  • Juyun Techs Stock Plummets Below 1,000 Won Amid National Pride Theme Boom
    Juyun Tech's Stock Plummets Below 1,000 Won Amid National Pride Theme Boom Once a leader in the domestic PC market alongside Samsung Electronics and Sambo Computer, Juyun Tech has fallen to a 'penny stock' with its share price dropping below 1,000 won. Last month, a movement to revive domestic brands gained traction among online investor communities, causing a brief surge in stock prices, but the upward trend was short-lived. The stock has since retreated to the 800 won range, while the largest shareholder has invested 1 billion won of personal funds to increase their stake.According to the Korea Exchange, Juyun Tech closed at 820 won on the previous trading day, August 10. Its market capitalization stands at 10.6 billion won, significantly below its par value of 1,000 won and down 72.4% from its 52-week high of 2,970 won.Last month, interest in domestic PC brands surged, leading to Juyun Tech being labeled a 'patriotic theme stock.' The share price jumped from 834 won on July 9 to 1,352 won on July 20, a 62.1% increase. It even peaked at 1,493 won during intraday trading on July 23.However, profit-taking from the rapid increase led to a swift decline. The closing price on July 23 fell to 1,096 won, followed by drops to 953 won on July 24 and 846 won on July 28. This month, the stock has remained around 800 won, dipping to 785 won on August 7 before a slight rebound to 820 won on August 10.Juyun Tech was once a representative of the first generation of domestic PC companies, gaining fame as the 'People's PC' and competing with Samsung Electronics and Sambo Computer. However, as market competition intensified, it could not maintain its former status. Its current market capitalization has shrunk to around 10 billion won.Amid ongoing poor stock performance, the largest shareholder has injected personal funds. According to the Financial Supervisory Service's electronic disclosure system, the largest shareholder, Hwapyeong Holdings, acquired an additional 1 million common shares of Juyun Tech through a third-party allocation capital increase on July 30. The acquisition price was set at 1,000 won per share, totaling 1 billion won, funded entirely by Hwapyeong Holdings' own resources.As a result of this capital increase, Hwapyeong Holdings' stake in Juyun Tech rose from 2,854,583 shares to 3,854,583 shares. Its ownership percentage increased from 22.14% to 27.74%, a rise of 5.60 percentage points.The stake held by the largest shareholder and related parties also expanded. The shares held by Hwapyeong Holdings and five related parties increased from 4,497,631 shares to 5,497,631 shares, adding 1 million shares. Consequently, the total ownership percentage rose from 34.88% to 39.56%. The stated purpose of the stock acquisition is 'to influence management and participate in management.'Juyun Tech stated, 'We are strengthening our management base and expanding our funds through the largest shareholder's participation in the capital increase.' With Hwapyeong Holdings injecting 1 billion won directly, the key question remains whether Juyun Tech, once known as the 'People's PC,' can leverage this financial support to recover its performance and corporate value.* This article has been translated by AI. 2026-08-11 10:04:10