AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Asian markets subdued by Wall Street slide, BOJ rate anticipation
    Asian markets subdued by Wall Street slide, BOJ rate anticipation SEOUL, December 18 (AJP) - Asian markets opened subdued on Thursday, taking cues from two key drivers — an overnight sell-off on Wall Street and anticipation ahead of the Bank of Japan’s rate decision. In New York, renewed concerns over an “AI bubble” resurfaced after a major financier reportedly withdrew from an Oracle-led AI data-center project. The gloom was partially offset by Micron Technology’s strong earnings and upbeat guidance, which sent its shares surging more than 7 percent in after-hours trading and provided modest relief to chip-heavy markets in South Korea and Taiwan. In Seoul, the benchmark KOSPI fell 1.3 percent to 4,004 as of 10:30 a.m., with institutional and foreign investors leading the sell-off. Foreigners offloaded a net 71.5 billion won ($48.5 million), while institutions sold 17 billion won. Retail investors stepped in to buy the dip, net purchasing 71.5 billion won. The Korean won weakened to 1,475.1 per U.S. dollar, down 3.4 won from the previous session. Market sentiment remained fragile after the currency briefly breached the 1,480 level a day earlier, prompting an emergency morning meeting among finance ministry, financial regulator and central bank officials. Samsung Electronics slipped 0.9 percent to 107,000 won, reflecting spillover concerns from the Oracle-related AI pullback. SK hynix, however, rose 1.8 percent to 560,000 won, buoyed by Micron’s strong results. The secondary battery sector came under heavy pressure. LG Energy Solution plunged 6 percent to 390,500 won following news of the termination of a battery supply contract with Ford Motor. SK Innovation, the largest shareholder of SK On, fell 3.3 percent to 107,000 won amid reports that its U.S. joint venture with Ford is being dissolved. Samsung SDI dropped 4.6 percent to 282,000 won, while materials producer EcoPro Materials slid 4 percent to 57,500 won. The tech-heavy KOSDAQ declined 0.5 percent to 905, with the psychologically important 900 level again under threat. Foreign selling of 45 billion won weighed on the index, particularly EcoPro-related stocks. EcoPro fell 3.2 percent to 100,000 won, while EcoPro BM sank 4.7 percent to 158,000 won. In contrast, recent market debutants remained resilient. Nara Space Technology jumped 14 percent to 30,800 won, extending its post-listing rally. Aimed Bio and Alteogen each edged up about 2 percent, with Alteogen supported by expectations surrounding its planned transfer to the KOSPI in 2026. Japan’s Nikkei 225 fell 0.75 percent to 49,145, tracking the tech-led decline in U.S. equities. Among major stocks, Toyota Motor edged up 0.24 percent to 3,357 yen ($21.6), while Honda Motor slid 1.7 percent to 1,556 yen. The divergence followed reports that U.S. safety regulators ordered a recall of about 70,000 units of Honda’s Acura ILX due to potential software defects, prompting some rotation into Toyota. Semiconductor shares in Tokyo faced what traders described as a “cold winter” sentiment. Advantest fell 3.15 percent, Tokyo Electron dropped 2.7 percent, and Ibiden declined 2 percent. Taiwan’s TAIEX posted a milder decline, slipping 0.3 percent to 27,448. TSMC edged down 0.35 percent to 1,425 Taiwan dollars ($45.1), while MediaTek rose 0.35 percent to 1,435 Taiwan dollars. Mainland China and Hong Kong markets also opened weaker. The Shanghai Composite fell a modest 0.25 percent, but tech-heavy indices underperformed, with the Shenzhen Component down 0.95 percent and the Hang Seng Index sliding 0.75 percent to 25,277. 2025-12-18 11:13:39
  • Seoul ranked 6th among worlds most competitive cities
    Seoul ranked 6th among world's most competitive cities SEOUL, December 18 (AJP) - Seoul was ranked as the sixth most competitive city in the world, according to a recent survey by Japanese think tank Mori Memorial Foundation released on Thursday. Seoul maintained its ranking in the foundation's annual Global Power City Index (GPCI) from the previous year, but its overall score rose sharply, narrowing the gap with fifth-ranked Singapore. The index, based on six functions such as "economy, research and development, cultural interaction, livability, environment, and accessibility," evaluates major cities around the world "according to their 'magnetism,' or their comprehensive power to attract people, capital, and enterprises from around the world." With the highest possible total score of 2,700 points, London scored 1,642.2 points to rank at the top, followed by Tokyo (1,535.1 points), New York (1,476.6 points), Paris (1,446.6 points), and Singapore (1,293.1 points). However, Seoul earned 1,288.1 points, making the biggest leap from the previous year among the top 10 cities. Amsterdam, Shanghai, Dubai, and Berlin rounded out the seventh through tenth spots. 2025-12-18 10:58:07
  • Hyundai Motor Group to expand plug-and-charge EV network in South Korea
    Hyundai Motor Group to expand plug-and-charge EV network in South Korea SEOUL, December 18 (AJP) - Hyundai Motor Group said on Thursday it will begin a large-scale expansion of its plug-and-charge (PnC) electric vehicle charging network next year, aiming to make EV charging more convenient and secure for drivers. Plug-and-charge is an international standard that automatically manages user authentication, charging and payment when a vehicle is connected to a charger, the automaker said. Unlike conventional EV charging systems that require drivers to use membership cards or credit cards, PnC relies on encrypted communication between the vehicle and the charging station, enabling a simpler and more secure user experience, Hyundai Motor Group said. The group said it is working with 12 major charging operators in South Korea to extend PnC services beyond the 64 E-pit fast-charging stations. Hyundai Motor Group plans to apply PnC technology to charging stations operated by Chaevi and Hyundai Engineering, expanding the number of PnC-enabled charging sites to more than 1,500. The company said it will then accelerate the rollout with the remaining 10 charging partners. The group intends to align the expansion with the South Korean government’s policy to increase the number of smart, controlled chargers, validating communication standards and payment systems so PnC can also be used at slower charging stations. “Expanding plug-and-charge services is a first step toward providing a more convenient charging experience in a wider range of locations,” Hyundai Motor Group said in a press release. 2025-12-18 10:31:21
  • OPINION: Cooperation between Türkiye and Republic of Korea in building fair international order
    OPINION: Cooperation between Türkiye and Republic of Korea in building fair international order SEOUL, December 18 (AJP) - At a time when power balances are being reshaped, the conventional international order is entering a phase of disintegration, and normative values are being eroded, the global system has been drawn into a multi-layered environment of uncertainty. In this age of uncertainty, multidimensional issues, such as intensifying geopolitical competition, asymmetric risks stemming from technological transformation, and problems in energy and food security, have rendered both the structure and the legitimacy of the international system increasingly contested. Alongside political, economic, and military challenges, the weakening of international law and the erosion of humanity’s shared values have led to a complete impasse in the international system, driven by a profound crisis of global governance. The global ecosystem now necessitates a fairer order, a new understanding grounded in moral values centred on human dignity, and an international governance system based on strong representation. It is precisely for this reason that Türkiye, under the leadership of President Recep Tayyip Erdoğan, stands as a key actor in advocating a values-based restructuring of the international order, guided by the principle that “A fairer world is possible.” With the aim of contributing to global peace, prosperity, and stability, Türkiye pursues initiatives aimed at resolving both regional and global challenges. We engage in mediation efforts within multilateral organisations to which we are a party, most notably the UN, NATO, OSCE, and OIC. In circumstances where international mechanisms prove ineffective, we strive to resolve conflicts through independent and multifaceted initiatives. Guided by the vision of our President, and through leader-to-leader diplomacy coupled with our 360-degree foreign policy approach, we make concrete contributions to the establishment of peace and stability from Asia to Africa and from the Balkans to the Middle East. Türkiye’s support for the peace process in the Southern Philippines, its mediation efforts in the Russia–Ukraine war, and initiatives to secure a lasting ceasefire in Gaza stand among the key examples highlighting its contributions. While assuming responsibility for bringing conflicts to an end through our vision of peace diplomacy, we also lead with our humanitarian diplomacy, ranking among the countries that provide the highest levels of humanitarian assistance relative to national income and calling for the mobilisation of humanity’s shared conscience. Türkiye’s peace-and-stability-oriented foreign policy, which prioritises normative values, closely aligns with the Republic of Korea's dialogue-based foreign policy approach, as its global role in the Asia–Pacific region continues to expand. In our shared vision of a “fairer world”, we are united by the same moral stance and concerns, grounded in peace and stability. Within Türkiye’s foreign policy, our relations with the Republic of Korea constitute a truly unique example. The strong bond established during the Korean War—defined as a “blood brotherhood”—is rooted in a shared struggle fought shoulder to shoulder on the same front, the helping hand extended to one another in times of hardship, and a deep sense of mutual trust. Undoubtedly, this bond of brotherhood forms both the foundation of our collective resolve to act together in the face of the challenges and opportunities of the 21st century and the driving force behind our strategic partnership. We firmly believe that, along the Ankara–Seoul axis, we can forge a partnership capable of contributing to peace across a broad geography, from Africa to Asia. Our diplomatic relations, established in 1957, were elevated to the level of a Strategic Partnership in 2012. Our political and economic relations, which have been strengthened through high-level engagements, are also advancing through close cooperation and partnerships within international organisations. We sincerely believe that the visit paid last month by President Lee Jae Myung of the Republic of Korea will uplift our bilateral relations to a higher level. In addition to the agreement concluded in the fields of wind and nuclear energy, there is a common will to further enhance cooperation potential in electric vehicles, artificial intelligence, and innovation, as well as to execute joint projects in the defence industry, similar to the Altay Tank. In this context, as the Presidency's Directorate of Communications, we have both engaged in in-depth exchanges of views and assessed potential avenues for cooperation through a range of activities organised with our Korean counterparts. At the “Stratcom Public Forum” we organised in Seoul, we explored ways to build a fairer world order. Likewise, we sought to contribute to the vision of cooperation during the event “The 75th Anniversary of Türkiye’s Participation in the Korean War”, which we organised in Seoul. As part of our media programmes, we have also had the opportunity to host Korean journalists in our country on several occasions. Our brotherly ties, forged through the shoulder-to-shoulder struggle on the battlefield, are further strengthened—despite the geographical distance—by our cultural affinity, reflected in our family structures, culture of solidarity, spirit of struggle, resilience, and diligence. This story, evolving from blood brotherhood to a strategic partnership, will persist through joint initiatives aimed at building a fairer, more prosperous, and more stable international system. 2025-12-18 10:17:13
  • HOT STOCK: Fords EV retreat delivers 10% blow to LG Energy Solution
    HOT STOCK: Ford's EV retreat delivers 10% blow to LG Energy Solution SEOUL, December 18 (AJP) -Shares of South Korea’s top battery maker LG Energy Solution have fallen more than 10 percent over the past week after Ford Motor announced it was withdrawing several electric-vehicle models amid changing market conditions. The move triggered the cancellation of a long-term battery supply agreement with LG Energy Solution valued at 9.6 trillion won ($6.5 billion). Shares of LG Energy Solution — the third-largest stock on the KOSPI by market capitalization — slid 6 percent to 388,500 won on Thursday, following the disclosure released after the market closed Wednesday. The stock had already fallen another 6 percent on Tuesday after the U.S. automaker said it would offer steep discounts on several EV models, including the F-150 Lightning. The fallout spread across the battery sector. Samsung SDI shares were down 4.2 percent, EcoPro BM fell 4.8 percent, and L&F, a key cathode material supplier to LG Energy Solution, dropped 6 percent. Ford’s EV pullback has also hit SK On, the unlisted battery arm of SK Group. The U.S. automaker recently walked away from a planned $11.4 billion battery joint-venture plant in Stanton, Tennessee, dealing another blow to Korea’s battery industry. The dissolution of the JV is expected to be finalized in the first quarter of 2026. 2025-12-18 10:11:58
  • K-Sure provides $1.7 billion financing for Verizons purchase of Samsung devices
    K-Sure provides $1.7 billion financing for Verizon's purchase of Samsung devices SEOUL, December 18 (AJP) - Korea Trade Insurance Corp. (K-Sure) said on Thursday it will provide $1.7 billion in financing for a project under which Verizon Communications Inc., the largest telecommunications operator in the United States, will purchase mobile devices from Samsung Electronics. Verizon, which K-Sure said has about 150 million subscribers and the largest share of the U.S. telecom market, will use the entire amount to buy Samsung-made communications devices, including smartphones and tablets. K-Sure has offered so-called “device financing” to major telecom operators worldwide, linking financial support to purchases of South Korean products. Earlier this year, the agency provided $700 million in financing to BCE Inc.’s Bell Canada, Canada’s largest telecom operator, to support purchases of South Korean communications devices. It also extended financing of 100 million euros to a major telecom operator in Poland in 2021 and 350 million euros to a major telecom operator in France in 2023, it said. K-Sure President Jang Young-jin said the agency is expanding support for exports of consumer goods, including mobile and communications devices, as it moves beyond a strategy focused mainly on capital goods exports amid rising global protectionism. “We will continue to broaden financing support for top-tier global buyers that choose South Korean products,” Jang said, adding that the goal is to strengthen the competitiveness of South Korean companies in overseas markets. 2025-12-18 09:58:54
  • US Senate approves defense bill prohibiting unilateral USFK troop cuts
    US Senate approves defense bill prohibiting unilateral USFK troop cuts SEOUL, December 18 (AJP) - The U.S. Senate on Wednesday passed a defense bill that includes a provision prohibiting a unilateral reduction of U.S. troops stationed in South Korea. The annual National Defense Authorization Act (NDAA), which sets defense policy, allocates funding priorities, and provides guidance on key security matters, was approved by the Senate in a decisive 77-20 vote, following its passage in the House of Representatives last week. The bill, which allocates a record US$901 billion in defense and security for the upcoming fiscal year, will take effect from October this year through September next year, once President Donald Trump signs it. It includes a clause preventing the use of defense funds to reduce U.S. troop levels in South Korea below the current 28,500 U.S. Forces Korea (USFK) personnel without congressional approval. The bill also restricts the use of funds for any amendments to the agreed transfer of wartime operational control between the two allies, though changes or objections can be raised within 60 days, provided they align with the interests of both countries. 2025-12-18 09:56:39
  • Hanwha Systems to supply cockpit displays for F-15 jets in deal with Boeing
    Hanwha Systems to supply cockpit displays for F-15 jets in deal with Boeing SEOUL, December 18 (AJP) - South Korea's Hanwha Systems said on Thursday it has secured its first foothold in the U.S. defense market by winning a contract to export digital avionics equipment to Boeing. The South Korean defense company said it has signed a deal to supply Boeing with a large-area multifunction display, known as the enhanced large-area display (ELAD), for F-15K fighter jets and the U.S. Air Force’s F-15EX aircraft. The display integrates information that was previously shown across multiple cockpit instruments into a single large screen, allowing pilots to access critical flight and mission data more quickly and improving situational awareness and operational efficiency, the company said. Hanwha Systems said the initial deliveries and application of its avionics to the F-15K fleet are expected to support greater participation by South Korean technology providers in U.S.-led fighter jet upgrade programs. The company attributed the contract to government-backed industrial cooperation and defense sales diplomacy, including support from the Defense Acquisition Program Administration (DAPA) and its aviation program office. DAPA signed an industrial cooperation memorandum of understanding with Boeing in November last year as part of efforts to upgrade South Korea’s F-15K fleet and expand the role of domestic companies in major overseas procurement programs. Hanwha Systems said being a supplier of the large cockpit display for the F-15 platform will open the door to further opportunities in the U.S. defense market. The company also supplies seven core avionics systems for South Korea’s domestically developed KF-21 fighter jet, including the mission computer, multifunction display, audio control and communication system, and terrain-following computer, all developed using domestic technology. In addition, Hanwha Systems provides the KF-21 with domestically produced systems such as an infrared search-and-track sensor and electro-optical targeting equipment. 2025-12-18 09:49:04
  • Samsung C&T advances Australian energy push with HVDC transmission deal
    Samsung C&T advances Australian energy push with HVDC transmission deal SEOUL, December 18 (AJP) - Samsung C&T Corp.’s construction unit said on Thursday it has won a high-voltage direct current (HVDC) transmission project in Australia. The company said it signed a contract with Marinus Link, a government-backed company established by Australia’s federal government and the state governments of Victoria and Tasmania, for the Marinus Link HVDC project. The project involves the engineering, procurement and construction of a 750-megawatt HVDC transmission system connecting the Hazelwood area in Victoria with the Heybridge area in Tasmania. The system will comprise about 90 kilometers of underground cable and 255 kilometers of subsea cable, for a total length of 350 kilometers. Samsung C&T said it formed a joint venture with local infrastructure contractor DTI to carry out civil works related to underground cable installation and the construction of converter stations. Of the total project value of about 940 billion won ($680 million), Samsung C&T’s 50 percent share amounts to roughly 470 billion won. The company said it received strong evaluations from the client during the early contractor involvement process after presenting an optimized design and highlighting experience gained from its HVDC project in the United Arab Emirates. “The Marinus Link HVDC project demonstrates recognition of Samsung C&T’s technology and project execution capabilities in the Australian market,” said Kim Sung-jun, vice president and head of the company’s energy solutions sales division. “We will continue to expand our business in Australia and the global energy market.” Samsung C&T said it has secured around 1 trillion won in orders in Australia’s energy sector this year, including a battery energy storage system project in Victoria worth about 200 billion won won in July. Since entering the Australian market with the Melbourne Renewable Energy Hub project in 2023, the company has been carrying out energy storage system projects totaling about 2.9 gigawatt-hours, it added. 2025-12-18 09:38:22
  • Naver seeks to complete acquisition of Spains Wallapop, steps up European expansion
    Naver seeks to complete acquisition of Spain's Wallapop, steps up European expansion SEOUL, December 18 (AJP) - South Korean internet company Naver Corp. is entering the final stages of its acquisition of Wallapop, Spain’s largest consumer-to-consumer marketplace, accelerating its expansion into Europe, industry sources said on Thursday. Naver said the deal is aimed at strengthening its position in the global consumer market while enhancing services through the integration of its core artificial intelligence technologies. Naver said on Tuesday that it will acquire about 562.7 million shares of its Spain-based subsidiary, NW Holdings, for 972.7 billion won. The transaction converts funds previously lent by Naver to the local unit to finance the Wallapop purchase into equity. Once the share acquisition is completed on March 30 next year, NW Holdings will become a wholly owned subsidiary of Naver, effectively completing the financial procedures related to the Wallapop acquisition. Founded in Spain, Wallapop operates one of Europe’s largest secondhand marketplaces, with about 19 million monthly active users. The platform offers a wide range of listings, from daily necessities to electronics and automobiles, and has recently expanded beyond Spain into southern European markets, including Italy and Portugal. Naver has been building its stake in Wallapop in stages since 2021. The latest investment secures full control of the company, including management rights, Naver said. The company plans to integrate its search, advertising and payment solutions into Wallapop, while applying AI technologies to improve operational efficiency and profitability. A key part of the strategy is the deployment of an “AI agent.” At its DAN 25 conference in November, Naver unveiled plans for an AI agent capable of understanding user context and managing the entire transaction process — from product discovery and search to payment and delivery booking — through a single interface. Naver said its experience operating an end-to-end digital ecosystem could generate strong synergies when applied to a global platform such as Wallapop. The acquisition is also strategically important from a data perspective, the company said. As AI model performance becomes increasingly standardized, access to large volumes of proprietary data is emerging as a critical competitive advantage. Naver expects Wallapop’s extensive user community data and real-time insights into product trends to further strengthen its AI capabilities. “The acquisition of Wallapop is a strategic choice to secure data and sustain long-term growth in the consumer-to-consumer segment,” Chief Executive Choi Soo-yeon, said. “By combining Naver’s technology with a global platform, we aim to create new value.” 2025-12-18 09:26:54