Journalist

Ryu Yuna
  • KOSPI tests 6,000 on Iran deal hopes; Asia stocks broadly higher
    KOSPI tests 6,000 on Iran deal hopes; Asia stocks broadly higher SEOUL, April 14 (AJP) - Asian markets were broadly upbeat Tuesday after U.S. President Donald Trump hinted at renewed negotiations with Iran, raising hopes for a diplomatic breakthrough before the two-week ceasefire ends next Tuesday. South Korea’s benchmark KOSPI led the gains, rising 3.2 percent to 5,993.59 after flirting with 6,000. The KOSDAQ gained 2.3 percent to 1,125.03 as of 11:15 a.m. Japan’s Nikkei 225 rose 2.55 percent to 57,943.50, while Hong Kong’s Hang Seng Index advanced 0.90 percent to 25,891.28, and China’s Shanghai Composite Index was up 0.33 percent at 4,001.65. Semiconductors led gains, with SK hynix soaring 7 percent to 1,113,000 won and testing a new record high on expectations for stellar first-quarter earnings. Samsung Electronics rose 3.6 percent to 208,500 won. Automakers also advanced, as Hyundai Motor gained 4.28 percent to 499,000 won and Kia rose 2.24 percent to 150,700 won. Among biopharmaceutical stocks, Celltrion rose 2.72 percent to 200,500 won, supported by news that the company completed a record-scale treasury share retirement, cancelling about 4 percent of its outstanding shares — equivalent to roughly 1.78 trillion won. Strong earnings also supported the stock, with the company posting 4.16 trillion won in revenue and 1.17 trillion won in operating profit last year, as profit jumped 137.5 percent from a year earlier and margins improved. Industrial and defense stocks were mixed, with HD Hyundai Heavy Industries adding 1.51 percent to 470,000 won, while Hanwha Aerospace slipped 1.50 percent to 1,507,000 won. Among battery shares, LG Energy Solution edged down 0.12 percent to 401,000 won and Samsung SDI fell 1.20 percent to 471,750 won. Financials moved higher overall, with KB Financial Group gaining 0.45 percent to 157,300 won, Shinhan Financial Group rising 1.12 percent to 99,400 won, and Mirae Asset Securities surging 11.64 percent to 72,900 won. On the KOSDAQ, biopharmaceutical and healthcare stocks showed broadly positive momentum, with Alteogen rising 2.26 percent to 361,500 won and Samchundang Pharm adding 0.19 percent to 527,000 won. ABL Bio gained 1.94 percent to 158,000 won, while HLB surged 8.40 percent to 63,200 won and LigaChem Biosciences jumped 4.40 percent to 197,100 won. Caregen also advanced 1.74 percent to 93,600 won. Defense and industrial-related names traded mixed, with LIG Nex1 climbing 0.96 percent to 94,600 won, while Rino Industrial slipped 1.50 percent to 111,700 won. Robotics and tech-related stocks were strong, as Rainbow Robotics surged 3.75 percent to 608,000 won and Peptron gained 2.69 percent to 267,000 won. In the currency market, the won strengthened slightly, with the dollar trading at 1,479.50 won, compared with the previous close of 1,489.30. Overnight on Wall Street, all three major indexes closed higher as investors leaned toward optimism over a potential de-escalation. The Dow Jones Industrial Average rose 0.63 percent to 48,218.25, the S&P 500 gained 1.02 percent to 6,886.24, and the Nasdaq Composite advanced 1.23 percent to 23,183.74. The gains were driven by a continued rally in technology stocks, with Oracle surging 12.69 percent. 2026-04-14 11:20:27
  • INTERVIEW: BTS wear them, but hanbok is still misunderstood
    INTERVIEW: BTS wear them, but hanbok is still misunderstood SEOUL, April 13 (AJP) — Hanbok is everywhere — on global stages, red carpets and tourist hotspots. Recognition, however, remains elusive. From BTS’s Gwanghwamun comeback performance in armor-inspired hanbok to the Oscar-stage showcase of K-pop Demon Hunters, Korean traditional dress is increasingly projected onto the global screen. The imagery travels easily. It resonates visually. To many, it simply registers as something “cool.” But familiarity stops there. Samuel Chung, chairman of the Korean Culture Association who has spent nearly two decades promoting hanbok abroad, draws a clear line between exposure and understanding. “It is seriously misleading to think hanbok is as popular as K-wave,” Chung said. “Only about 5 percent of foreigners can truly identify hanbok.” “To the 95 percent, hanbok cannot be differentiated from Chinese clothing hanfu or Japanese kimono.” The disconnect is borne out in data. According to the Ministry of Culture, Sports and Tourism and the Korean Foundation for International Cultural Exchange, favorability toward Korean cultural content reached 69.7 percent in the 2026 Overseas Hallyu Survey. Yet global interest remains concentrated in food, music and television, with traditional culture largely absent from primary recognition categories. “Even when people see hanbok, many can’t tell whether it’s Korean, Japanese or Chinese,” Chung said. “They cannot tell if they are wearing the Korean traditional wardrobe from the giant ads of Korean celebrities at Times Square in New York.” “Simply put, foreigners can tell Shin Ramyun from non-Korean instant noodles, but cannot tell the difference in the traditional Asian wear.” Chung attributes the gap not to a lack of exposure, but to the absence of clear identity-building. “We take it for granted as our own culture, but overseas perception is entirely different,” he said. “The more attention, the greater Korea should pay to the original identity.” That tension is visible on the ground. At major heritage sites such as Gyeongbokgung Palace and Bukchon Hanok Village, hanbok-clad visitors have become a defining scene. The number has surged from about 150,000 in 2020 to more than 2 million in 2024, according to the Korea Heritage Service. Yet many of the outfits worn by tourists bear only a loose resemblance to traditional hanbok — often simplified, over-stylized and mass-produced abroad. “The rentals not just derail from the original form but also cannot be claimed Korean at all as they are produced in China,” Chung said. Price has driven that shift. A domestically made hanbok costs around 400,000 won, while imported versions can be sourced for as little as 10,000 to 20,000 won. The Korea Heritage Service allows modernized hanbok at palace sites but stresses adherence to core structure, advising against heavily mixed styles such as pairing a jeogori with jeans. For Chung, however, the issue runs deeper than design. He recalls being greeted with “ni hao” while wearing hanbok in front of the Eiffel Tower — a moment that, for him, encapsulates the blurred identity of Korean traditional dress abroad. The problem, he warns, could intensify in the age of artificial intelligence. “The misrepresentation can deepen in the AI era,” he said. “If information and visual references on hanbok lag behind those of kimono or hanfu, distorted perceptions can take hold more quickly.” Concerns are already emerging. Generative AI models often return Japanese-style clothing or mixed East Asian imagery when prompted with “hanbok.” A 2025 study by researchers at Chung-Ang University found that leading vision-language models frequently misidentified hanbok, describing it as Japanese attire or unrelated cultural garments — a pattern attributed to imbalances in training data. The disparity is also visible in global search trends. Interest in “kimono” has consistently outpaced “hanbok” by more than tenfold. “We shouldn’t assume hanbok is widely recognized just because K-pop stars wear it,” Chung said. Efforts to address the gap are now beginning to take shape. First lady Kim Hye-kyung recently hosted a meeting at the presidential office to support UNESCO recognition of hanbok culture, signaling a more coordinated push. “Government moves through systems and policy, while the private sector builds relationships on the ground. Both need to work together,” Chung said. For Chung, the solution begins with familiarity — not as an abstract concept, but as lived experience. “Culture isn’t about competition — it’s about familiarity,” he said. “It spreads not just by being shown, but by being worn and experienced.” His organization has pursued that approach through global events, including fashion shows, exhibitions and the Hanbok Model Contest, which emphasizes participation over spectacle. “Modeling is something anyone can take part in,” Chung said. “In a globally accessible format, it becomes a powerful way to present hanbok visually — even without language.” “The moment someone steps on stage in hanbok, it becomes cultural diplomacy.” Yet at home, hanbok faces a different challenge — one of contraction. “Hanbok has largely disappeared from everyday life and largely exists ceremonial and symbolic,” Chung said. “Hanbok should not be something people simply experience — it should be part of everyday life.” For hanbok to be recognized as distinctly Korean, he argues, it must move beyond being consumed as a “Korean-style” costume. “What is needed now is not the confidence that hanbok is already global, but a recognition that it is still not fully understood.” 2026-04-13 17:29:31
  • Asian stocks retreat near 1% amid imminent US reverse blockade at Hormuz
    Asian stocks retreat near 1% amid imminent US reverse blockade at Hormuz SEOUL, April 13 (AJP) — Asian markets opened broadly lower Monday on renewed spike in oil price after the U.S.-Iran showdown spilled over to the Strait of Hormuz following failed weekend peace talks. The pullback, however, remained relatively contained at around 1 percent, suggesting markets are still pricing in a controlled escalation and a potential pathway toward stabilizing the critical waterway. South Korea’s benchmark KOSPI fell 0.79 percent to 5,812.82 as of 10:43 a.m., and Japan’s Nikkei 225 also 0.79 percent to 56,474.72. Hong Kong’s Hang Seng Index declined 1.11 percent to 25,605.67, and China’s Shanghai Composite Index edged down 0.28 percent to 3,975.10. The cautious retreat followed confirmation from the United States Central Command that it would implement maritime security measures targeting vessels entering or leaving Iranian ports starting at 10 a.m. Eastern Time on April 13. Under the plan, traffic linked to Iranian ports across the Persian Gulf and the Gulf of Oman will be subject to control measures regardless of nationality, while transit through the Strait of Hormuz will remain open for vessels traveling between non-Iranian ports. The move aligns with a more aggressive posture signaled by Donald Trump, who said “the blockade will begin shortly” and indicated mine-clearing operations would commence in the waterway. The calibrated approach — restricting Iranian-linked flows while preserving broader navigation — points to a selective pressure strategy aimed at choking off Tehran’s oil revenues without triggering a full-scale supply shock. Large-cap stocks in Seoul mostly traded lower. Samsung Electronics fell 1.70 percent to 202,500 won, Hyundai Motor declined 1.23 percent to 483,500 won, and LG Energy Solution slipped 1.09 percent to 407,500 won. Samsung Biologics dropped 1.78 percent, while KB Financial Group edged down 1.20 percent. Losses extended across cyclicals, with Samsung C&T down 2.31 percent and Celltrion off 2.63 percent. Doosan Enerbility fell 1.70 percent, HD Hyundai Heavy Industries declined 1.05 percent, and NAVER slipped 1.93 percent. Gains were limited. SK hynix rose 1.36 percent to 1,041,000 won, Hanwha Aerospace added 0.40 percent, and SK Square advanced 2.46 percent. Construction shares, which had rallied on expectations of postwar reconstruction demand in the Middle East, came under renewed pressure as the collapse of U.S.–Iran talks dampened sentiment. GS Engineering & Construction dropped 4.12 percent, Hyundai Engineering & Construction fell 1.62 percent, while Kyeryong Construction Industrial and Samsung E&A declined 4.20 percent and 3.61 percent, respectively. The retreat followed a sharp run-up. From March 3 to April 10, the KRX Construction Index surged 26.11 percent, the strongest gain among all sectors, while KOSPI-listed construction stocks climbed 30.59 percent, significantly outperforming the broader market. The KOSDAQ bucked the trend, rising 0.55 percent to 1,099.67. Among gainers, EcoPro rose 0.55 percent and EcoPro BM gained 0.99 percent, while Leeno Industrial edged up 0.09 percent. On the downside, Alteogen fell 3.04 percent, ABL Bio dropped 1.78 percent, and Kolon TissueGene slid 6.24 percent. The U.S. dollar rose to 1,491.40 won from last close of 1,482.50. 2026-04-13 11:13:02
  • Asian markets rise on ceasefire talks, shrug off BOK pause
    Asian markets rise on ceasefire talks, shrug off BOK pause SEOUL, April 10 (AJP) -Asian markets opened broadly higher Friday as investors bet on easing tensions as U.S. and Iranian delegates are set to hold face-to-face talks following a ceasefire in Pakistan on Saturday. In Seoul, the benchmark KOSPI rose 1.82 percent to 5,883.03, while the junior KOSDAQ gained 1.36 percent to 1,090.68 as of 11:05 a.m. The market largely brushed off the Bank of Korea’s rate freeze — extended for nearly a year — with policy inertia already priced in amid conflicting pressures from rising import costs and a slowing economy tied to the prolonged Gulf conflict. Among movers, Hanwha Solutions gained 1.25 percent to 40,550 won as investors welcomed the Financial Supervisory Service's refusal to greenlight its planned 2.4 trillion won rights offering, calling for revisions to the financing structure. Tech heavyweights led gains. Samsung Electronics rose 2.57 percent to 209,250 won, while SK hynix climbed 3.71 percent to 1,035,000 won as it is expected to deliver equally stellar first-quarter earnings following Samsung’s upbeat guidance earlier this week. Battery and energy stocks traded mixed, with LG Energy Solution falling 1.07 percent and Samsung SDI edging up 0.52 percent. Automakers showed a muted performance. Hyundai Motor added 0.66 percent, while Kia slipped 0.13 percent. Shipbuilders advanced, with HD Hyundai Heavy Industries rising 1.49 percent, while financials tracked higher as KB Financial Group and Shinhan Financial Group gained 1.95 percent and 1.86 percent, respectively. Japan’s Nikkei 225 rose 1.57 percent, China’s Shanghai Composite added 0.78 percent, and Hong Kong’s Hang Seng Index gained 1.18 percent. The Korean won strengthened modestly to 1,479.10 per dollar, from 1,482.5 won at the previous close. Oil prices moved higher despite the ceasefire optimism, with Brent crude rising 1.23 percent to $95.92 a barrel and West Texas Intermediate jumping 3.66 percent to $97.87, underscoring lingering supply concerns. 2026-04-10 11:35:33
  • Asian markets retreat after truce rally; Kospi slips by Samsung block sale
    Asian markets retreat after truce rally; Kospi slips by Samsung block sale SEOUL, April 09 (AJP) - Asian markets opened broadly lower on Thursday, giving back some of the previous session's sharp gains after the United States and Iran effectively agreed to a Pakistan-mediated two-week truce. As investors monitored the course of Washington-Tehran negotiations, South Korean stocks were weighed by profit-taking following Wednesday’s sharp jump and a large block sale of Samsung Electronics shares. The main index fell 0.99 percent to 5,814.40, and the tech-heavy KOSDAQ declined 0.96 percent to 1,079.36 as of 11:10 a.m. Samsung Electronics fell more than 3 percent in early trading on Thursday, following a large block sale by the late chairman Lee Kun-hee's widow Hong Ra-hee. Hong, mother of Samsung Group chief Lee Jae-yong sold 15 million shares worth about 3.08 trillion won ($2.3 billion) at a 2.5 percent discount to the previous close to complete the inheritance tax following the patriarch's death in 2020. Shares were down 3.33 percent at 203,500 won in the morning trade. Shares of SK Hynix also declined, falling 2.81 percent to 1,004,000 won, with the two heavyweights weighing on the broader KOSPI. Among other large caps, battery shares were mixed, with LG Energy Solution rising 2.59 percent to 416,500 won and Samsung SDI gaining 2.65 percent to 484,000 won. Defense and industrial names were weaker, with Hanwha Aerospace dropping 2.43 percent to 1,448,000 won and HD Hyundai Heavy Industries slipping 0.67 percent to 481,250 won. Automakers were mixed, as Hyundai Motor fell 1.38 percent to 501,000 won, while Kia edged up 0.75 percent to 160,400 won. Financial shares were mixed, with KB Financial Group rising 0.77 percent to 157,200 won and Shinhan Financial Group gaining 1.76 percent to 98,400 won, while Samsung Life Insurance slid 5.24 percent to 226,000 won. Elsewhere in Asia, Japan's Nikkei 225 fell 0.77 percent to 55,873.60 after recent gains, Hong Kong's Hang Seng Index declined 0.88 percent to 25,665.20. Chinese stocks also traded lower, with the Shanghai Composite Index falling 0.70 percent to 3,966.90. The dollar edged up to 1,481.90 won, compared with 1,470.6 won at the previous close. 2026-04-09 11:30:34
  • Battery makers expected to post Q1 losses, but optimism remains on ESS demand
    Battery makers expected to post Q1 losses, but optimism remains on ESS demand SEOUL, April 9 (AJP) - South Korea's three major battery makers are expected to post weak first-quarter results amid slowing demand for electric vehicles. According to data compiled by financial information provider FnGuide, Samsung SDI, SK On, and LG Energy Solution are projected to post operating losses for the first three months of this year. Samsung SDI is estimated to have posted an operating loss of 263.5 billion won ($196 million), while SK On is expected to report a loss of around 300 billion won. LG Energy Solution, in a preliminary report earlier this week, recorded an operating loss of 207.8 billion won. These losses reflect a triple whammy for the sector, driven by slowing global EV demand, automakers' inventory adjustments, and falling raw material prices. In particular, LG Energy Solution's operating loss would widen to around 400 billion won if the Advanced Manufacturing Production Credit (AMPC), a U.S. tax incentive under the Inflation Reduction Act, is excluded. Samsung SDI is also believed to have seen a sharp decline in profitability, while SK On is expected to continue its streak of quarterly losses. The slowdown is also reflected in global market data. According to SNE Research, an energy market research firm specializing in batteries, total battery usage in electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and hybrid vehicles (HEVs) reached 134.9 gigawatt-hours (GWh) during the peiod, rising just 4.4 percent from a year earlier. The combined global market share of the three battery makers fell to 15 percent, down 2.2 percentage points year-on-year. A sharp 29.8-percent drop in U.S. EV sales led to declining battery usage across all three companies. LG Energy Solution recorded 11.8 GWh (-2.7 percent), SK On 5.2 GWh (-12.9 percent), and Samsung SDI 3.3 GWh (-21.9 percent), marking the steepest decline among major players. But the losses are widely seen as reflecting ongoing investment rather than a structural downturn, as the three battery makers expand their production capacity in the U.S. to secure a foothold in the North American market. With such aggressive investment in North America, a gradual recovery is expected in the second half of the year as more affordable EVs and energy storage systems (ESS) would gain traction. LG Energy Solution is expanding its U.S. footprint including its joint venture Ultium Cells with General Motors, one of the largest U.S. automakers, and plans to begin mass production of ESS batteries in the second quarter. Samsung SDI is also preparing ESS battery production through its joint venture with Stellantis, formed through the merger of Fiat Chrysler Automobiles and PSA Group. Earlier this year, it secured a large battery deal in the U.S. and followed it up with a 1.5 trillion won ($1.1 billion) ESS contract last month, extending its order momentum. SK On operates a plant in Georgia and is building additional facilities through its equally held venture with Ford Motor Company to produce EV batteries in the U.S. It recently suspended operations at its first Georgia plant and shifted production to the second plant to improve efficiency. The company also signed a 2 trillion won ESS supply deal with Flatiron Energy Development, an ESS developer founded in 2021. Such front-loaded investments are expected to lay the groundwork for a recovery in earnings, as higher utilization rates would allow U.S. subsidies under the Advanced Manufacturing Production Credit (AMPC) to be more fully reflected in results. These front-loaded investments are expected to lay the groundwork for a recovery in earnings, as higher utilization rates would allow U.S. subsidies the AMPC. SK On is also boosting efficiency at its operations in Hungary, supported by steady growth in the European market. Its second plant in Komárom is operating at around 80-percent utilization rates and supplies nickel-cobalt-manganese (NCM) batteries, a high-performance EV battery chemistry, to Volkswagen Group and Ford Motor Company including for models such as the ID.4 and ID.7. Automakers are set to launch more affordable EVs in the US$20,000–$30,000 range, which could revive delayed demand and boost battery shipments. The expansion of the energy storage system (ESS) market could be another positive factor. Surging power demand from artificial intelligence (AI) data centers is driving growth in large-scale energy storage, as battery makers expand beyond EV-focused portfolios and position ESS as a key growth engine. Meanwhile, shares of LG Energy Solution and Samsung SDI were up 2.34 percent from the previous session as of Thursday morning. 2026-04-09 11:12:15
  • Lawyers in Korea clash over bar pass rates amid glut and AI threat
    Lawyers in Korea clash over bar pass rates amid glut and AI threat SEOUL, April 08 (AJP) - Lawyers usually fight for others, but in South Korea these days, they are fighting for themselves. The Korean Law School Student Association on Wednesday issued a statement signed by 1,024 students from 25 law schools, calling on the government to ease entry barriers by raising the bar exam pass rate to 75 percent from the current median of around 50 percent. Just days earlier, on Monday, an unseasonably chilly spring drizzle did not deter about 200 lawyers from staging a sit-in outside the Gwacheon Government Complex — home to the Ministry of Justice — demanding the exact opposite: a reduction in new entrants. They cited intensifying competition, a growing glut in the legal market, and the rise of AI and digital tools threatening to replace paralegals and assistants. With roughly 1,700 new lawyers entering the market each year, tensions are rising ahead of the April 24 bar exam results, as debate intensifies over whether to curb new entrants or raise the pass rate. The conflict echoes a long-running dispute. In December 2010, students from 25 law schools staged a protest by piling up withdrawal letters, reflecting a deep divide over quotas. The Korean Bar Association called for the number of new lawyers to be capped at around 1,000, while law schools insisted on guaranteeing at least 2,000. According to the Korean Bar Association, the number of lawyers in South Korea is expected to more than triple from around 10,000 in 2009 to an estimated 38,000 this year. The increase has been driven by the steady addition of 1,500 to 1,700 new lawyers annually, including 1,744 newly licensed in 2025. At this pace, the total could approach 40,000 — roughly one lawyer for every 1,350 people. The ratio remains a far cry when compared to 1 per 249 in the United States and the OECD average of 1 per 555, but the expansion has intensified competition and eroded incomes in Korea where legal services are less common than developed economies. The Korean Bar Association said the average number of cases handled per lawyer has fallen from 6.97 in 2008 to fewer than one today. Median annual income has dropped to around 30 million won, below that of average wage workers. For many, the profession has lost its status as a high-income elite career. Timothy Kim, 35, who became a lawyer last year, said that even after completing mandatory training, employment is not guaranteed. “Offices in Seocho — Seoul’s legal district housing courts up to the Supreme Court — pay trainees with law school degrees less than 3 million won per month,” he said. “Graduates are required to complete a training program provided by the Korean Bar Association, but the cost alone exceeds 1 million won,” he added. Many in the field trace the oversupply to the adoption of a U.S.-style law school system. Introduced in 2009, the system replaced the state judicial exam — once known for its extreme selectivity — with a model designed to produce about 1,500 new lawyers annually. Under the current system, candidates who complete a three-year law school program are eligible to sit for the bar exam. The reform aimed to diversify the legal profession, expand access to legal services and reduce the social and economic costs of prolonged exam preparation. Less than two decades later, however, many graduates say the system has recreated intense competition — likening it to high school seniors competing for select top universities and in this case, top law firm positions and public-sector roles. Too many students, too few places Competition begins at entry. A total of 19,057 applicants sat for the Legal Education Eligibility Test (LEET) last year, more than double the 8,246 recorded in 2016. With law school admissions capped at around 2,100 annually, entry has become increasingly competitive. Amid shrinking job opportunities at major corporations, many university graduates are turning to law school to buy time and enhance credentials — contributing to persistently low pass rates, with roughly half of candidates failing each year. The number of bar exam candidates has nearly doubled from 1,663 in 2012 to 3,336 last year, with 3,757 applicants this year. Despite the surge, the Ministry of Justice has maintained an annual quota of around 1,500 to 1,700 successful candidates. Under current rules, graduates are allowed up to five attempts within five years to pass the exam. Those who fail lose eligibility permanently, even if they re-enroll in law school. As a result, the number of so-called “bar exam dropouts” reached 1,918 last year and is expected to exceed 2,000 this year. The debate over lawyer supply has sharpened, with starkly opposing views on whether the pass rate should remain near 50 percent or rise toward 80 percent. Supporters of an increase argue that maintaining a 50 percent pass rate undermines the original intent of the law school system — to provide broader and fairer access to the profession. They also point to potential growth in legal demand, particularly in corporate advisory work, cross-border transactions and AI-related services. “A system that excludes qualified candidates due to a fixed pass rate cannot be right,” said Lee Hwang, a professor at Korea University School of Law. He added that the current structure distorts legal education, as students focus solely on passing the bar exam rather than developing practical skills. He warned that this limits the competencies required of legal professionals and argued that raising the pass rate is essential. Lee also noted that low pass rates have intensified stratification among law schools. “Schools are effectively ranked by pass rates, and both students and faculty face significant pressure — particularly at institutions with lower rates,” he said. The Korean Bar Association disputes this view. Jung Hyuk-joo, a spokesperson for the association, said the probability of passing within five attempts already exceeds 80 percent. “A more fundamental solution is to reduce law school enrollment rather than raise the pass rate,” he said. Lee also argued that reinstating the old state-administered judicial exam would not resolve the issue and could instead distort the market. Maintaining both systems, as in Japan, would also risk oversupply, he added. Jung, however, pointed to Japan as a counterexample, noting that despite having a population roughly 2.5 times larger than South Korea, it produces about 1,500 new lawyers annually. He also cautioned against comparisons with the United States, where lawyers cover a broader scope of work due to the absence of parallel professions such as patent attorneys, tax accountants and administrative agents. “The scale of the legal market in the U.S. is fundamentally different,” he said, adding that any discussion on raising the pass rate must first clarify whether the benchmark is Japan or the United States. Discussions are nevertheless underway at the presidential office on a proposal to select an additional 50 to 150 legal professionals annually through a separate judicial exam track. 2026-04-08 15:21:37
  • KOSPI surges over 6%, USD-KRW falls under 1,500 on Hormuz reopening news
    KOSPI surges over 6%, USD-KRW falls under 1,500 on Hormuz reopening news SEOUL, April 8 (AJP) — South Korea’s benchmark KOSPI zoomed above 5,800 by flying 6 percent upon the opening bell Wednesday on expectations of the reopening of the Strait of Hormuz as a part of the ceasefire terms of the United States that Tehran reportedly accepted. The main index opened sharply higher, jumping 6.56 percent to 5,855.29, while the tech-heavy KOSDAQ rose 4.13 percent to 1,079.58. Japan’s Nikkei 225 also climbed more than 4 percent. A buy-side sidecar was triggered on the KOSPI 200 after the index surged past the 5 percent threshold. U.S. President Donald Trump said Tuesday (local time) he would suspend military operations against Iran for two weeks, writing on Truth Social: “I agree to suspend the bombing and attack of Iran for a period of two weeks. This will be a double-sided CEASEFIRE!” The decision, announced about 90 minutes before the deadline, is conditional on Iran ensuring the full and safe reopening of the Strait of Hormuz. The proposal — reportedly mediated by Pakistan — has been accepted by both sides, raising expectations for a broader agreement and easing concerns over oil supply disruptions. Improved risk sentiment lifted Asian markets, with Seoul leading gains on expectations of stabilizing energy prices and reduced geopolitical risk. Large-cap stocks rallied broadly. Samsung Electronics jumped 7.12 percent to 210,500 won, while SK hynix surged 8.95 percent to 998,000 won. Automakers and battery makers also advanced. Hyundai Motor rose 5.39 percent to 498,500 won, Kia gained 5.57 percent to 159,200 won, and LG Energy Solution added 2.57 percent to 419,000 won. Bio and industrial shares were higher, with Samsung Biologics up 4.35 percent to 1,655,000 won, Doosan Enerbility rising 5.06 percent to 99,700 won, and HD Hyundai Heavy Industries gaining 5.32 percent to 495,000 won. Financials led the rally. KB Financial Group jumped 7.91 percent to 158,300 won, Samsung Life Insurance rose 8.11 percent to 240,000 won, Shinhan Financial Group added 6.35 percent to 97,200 won, and Mirae Asset Securities climbed 8.13 percent to 66,500 won. Other major gainers included Samsung C&T, up 9.49 percent to 300,000 won; Celltrion, rising 5.32 percent to 204,000 won; Hanwha Ocean, advancing 6.20 percent to 128,400 won; Samsung SDI, up 3.07 percent to 470,500 won; and Hyundai Mobis, gaining 4.87 percent to 409,000 won. Hanwha Systems was the only major decliner, falling 2.34 percent to 1,501,000 won. The U.S dollar dropped nearly 20 won to 1,477.5, breaking below the 1,500 level. 2026-04-08 09:40:47
  • Samsung earnings surprise boosts KOSPI as markets remain cautious over Trumps ultimatum to Iran
    Samsung earnings surprise boosts KOSPI as markets remain cautious over Trump's ultimatum to Iran SEOUL, April 7 (AJP) - South Korea's benchmark KOSPI got off to a good start on Tuesday as a strong earnings surprise from Samsung Electronics supported sentiment, although gains were limited as Asian and other markets braced for U.S. President Donald Trump's final ultimatum to Iran. The KOSPI pared earlier gains, rising 0.64 percent to 5,485.43. Gains were supported by Samsung Electronics rising 1.81 percent to 196,600 won after posting record-breaking quarterly earnings. The electronic giant reported preliminary first-quarter revenue of 133 trillion won ($89 billion) and operating profit of 57.2 trillion won ($42.3 billion), both record highs that far exceeded market expectations. Over 90 percent of operating profit is estimated to have come from the memory chip segment, supported by rising prices for high-bandwidth memory (HBM), DRAM, and NAND products. Its detailed earnings report will come out later this month. Another major chipmaker, SK hynix rose 2.93 percent to 912,000 won. Among large-cap industrials, LG Energy Solution climbed 1.03 percent to 416,750 won, Hyundai Motor rose 0.53 percent to 471,500 won, and Hanwha Aerospace added 1.03 percent to 1,465,000 won. SK Square jumped 3.49 percent to 504,000 won, and Doosan Enerbility edged up 0.31 percent to 96,000 won. Financial shares were also higher, with KB Financial Group gaining 1.76 percent to 150,500 won and Shinhan Financial Group rising 0.75 percent to 93,600 won. Samsung C&T advanced 2.04 percent to 275,000 won. On the downside, Kia slipped 0.20 percent to 151,300 won, Celltrion edged down 0.05 percent to 195,700 won, Samsung Life Insurance fell 0.22 percent to 225,500 won, Mirae Asset Securities declined 0.16 percent to 63,100 won, and Hyundai Mobis dropped 0.64 percent to 386,000 won. The junior KOSDAQ, meanwhile, reversed course to trade 0.07 percent lower at 1,046.60 shortly after the day's trading began. Shares of Samchundang Pharm plunged 9.71 percent in the morning. The pharmaceutical company failed to ease investor concerns despite holding a press briefing to address controversies surrounding whether its oral semaglutide is a generic drug and the substance of its underlying technology. Elsewhere in Asia, Japan's Nikkei 225 extended gains, rising 0.22 percent to 53,530.05 in the morning trade. According to Kazuaki Shimada, chief strategist at IwaiCosmo Securities, the index has remained relatively resilient to rising oil prices as market focus shifts toward growth in artificial intelligence-related stocks. Chip-related shares led gains, with Advantest rising 1.41 percent to 22,130 yen and Tokyo Electron adding 0.86 percent to 38,700 yen. China's Shanghai Composite Index rose 0.10 percent to 3,884.15, while Hong Kong's stock market remained closed for the extended Easter holiday. In the currency market, the won remained relatively stable, with the dollar trading at 1,509.70 won, compared with 1,506.3 won at the previous day's close. Overnight on Wall Street, all three major indexes closed higher. The Dow Jones Industrial Average rose 165.21 points, or 0.36 percent, to 46,669.88, the S&P 500 gained 0.44 percent to 6,611.83, and the Nasdaq Composite advanced 0.54 percent to 21,996.34. Trump has warned Iran that it must reopen the Strait of Hormuz by Tuesday or face large‑scale strikes on its energy infrastructure and power plants, even as some diplomatic channels and cease‑fire proposals remain under discussion. With the deadline set for 8 p.m. Eastern Time, investors are turning cautious, as a potential strike on Iran's energy infrastructure could trigger broader disruptions in global energy markets. 2026-04-07 11:30:13
  • Chinese AI role in Iran war flags lessons for Seoul
    Chinese AI role in Iran war flags lessons for Seoul SEOUL, April 6 (AJP) — The war in the Gulf is underscoring a critical lesson for South Korea, which faces its own security risks on the Korean Peninsula: the growing role of Chinese AI and satellite technologies in tracking and exposing military movements. Chinese firms are increasingly using publicly available data — including commercial satellite imagery, Automatic Dependent Surveillance-Broadcast (ADS-B) and Automatic Identification System (AIS) signals — and applying AI to integrate and analyze them to track military activity. By combining multiple datasets, these systems can infer troop movements, carrier routes and force deployments without relying on classified intelligence. China-based geospatial analytics firm MizarVision has released analyses tracking U.S. carrier strike group movements and troop deployments in the Iran conflict, highlighting how AI is evolving beyond data processing into a tool capable of reconstructing military intelligence. China is also accelerating efforts to integrate domestically developed AI models into military systems, including autonomous drones, simulation platforms and battlefield automation. The U.S. House Select Committee on China has described such applications as an “imminent threat,” while U.S. Defense Secretary Pete Hegseth said Washington is aware of the developments and is taking steps to respond. While Seoul aims to rank among the world’s top three AI powers, analysts say it still trails the United States and China, with constraints in skilled labor and private investment limiting its ability to respond to AI-driven security risks. The implications extend beyond technology competition, pointing to structural shifts in the security environment. Lee Shin-wha, a professor of Political Science and Diplomacy at Korea University, said advances in AI and data are rapidly blurring the boundary between the economy and national security. “Security is no longer defined solely by military power,” she said. “It is evolving into a new domain that integrates data, AI and cyber capabilities, placing South Korea in a more exposed position between China and North Korea.” She warned that long-standing asymmetric capabilities developed by China and North Korea in cyber domains are now expanding through the use of commercial technologies and data. Lee also raised concerns over data security, saying potential data flows and leakages in key industries such as semiconductors and advanced manufacturing should be treated as national security issues, calling for stronger legal and institutional safeguards. As information approaches real-time availability, she said, warfare is likely to shift further into information and cognitive domains, warning that failure to secure information superiority could leave countries at a strategic disadvantage. Kang Jun-young, a professor at the Graduate School of International and Area Studies at Hankuk University of Foreign Studies, said the use of commercial resources for military purposes has already become unavoidable. He added that governments should strengthen legal frameworks and clearly define policy responses to address the issue at the national level. Lee also stressed the need for a broader security strategy that extends beyond traditional military power to include cyber and cognitive domains, requiring coordination across government and closer collaboration between technical experts and policymakers. She noted that key institutions such as the National Intelligence Service already treat cyber capabilities as a core pillar, but said further efforts are needed to strengthen expertise and institutional capacity. Lee also pointed to the growing role of asymmetric technologies such as drones, noting that lessons from the Russia–Ukraine war demonstrate how they can reshape the battlefield. She warned that advances in AI and data technologies have “opened a Pandora’s box,” calling for an integrated national strategy that aligns technological development with security policy. Concerns are also rising over how these trends could apply to the Korean Peninsula. Rep. Yu Yong-weon of the People Power Party said “China is helping Iran by analyzing commercial satellite data to disclose U.S. aircraft deployments and carrier movements,” warning that similar exposure could occur in Korea. He said key facilities — including Osan Air Base and Camp Humphreys in Pyeongtaek, as well as Gyeryongdae and Cheongju Air Base — could be vulnerable to detection through high-resolution satellite imagery and data analysis. Yu urged the government to treat the issue as an immediate security concern, calling for measures such as hardened aircraft shelters and stronger monitoring of Chinese commercial satellite activity. 2026-04-06 17:51:26