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South Korea unveils $10.2 billion emergency support for tariff-hit exporters SEOUL, September 03 (AJP) - The South Korean government on Wednesday announced a sweeping 13.6 trillion won ($10.2 billion) relief package aimed at helping exporters weather U.S. tariffs, while expanding trade financing to a record 270 trillion won ($203 billion). The measures, unveiled during a joint meeting of economic ministers and industry officials, are designed to offset the burden of recently negotiated tariffs with Washington. Under the agreement, South Korea and the United States reduced planned mutual tariffs from 25 percent to 15 percent. Automotive tariffs were also cut to 15 percent from 25 percent, but officials warned that the new rates still weigh heavily on Korean exporters. The plan centers on expanded access to credit and lower borrowing costs. Korea Development Bank will raise lending limits tenfold for affected companies, lifting the cap for small businesses from 3 billion won to 30 billion won and for mid-sized firms from 5 billion won to 50 billion won. Interest rates will be reduced by an additional 0.3 percentage points from current levels of 2 to 3 percent. The Export-Import Bank of Korea will broaden its crisis lending program to include firms with weaker credit ratings. Targeted relief is also planned for companies in steel, aluminum, copper and related industries, which face tariffs as high as 50 percent. The government pledged 570 billion won in support, including 150 billion won in subsidized loans, with interest rate reductions of up to two percentage points for small and mid-sized firms. Trade insurance coverage will be expanded by 14 trillion won to 270 trillion won, the largest on record, to help ensure liquidity for exporters. Fee discounts of up to 90 percent will be extended for small firms with less than $1 million in overseas sales. Other measures include 420 billion won in tariff-related export vouchers, higher subsidies for logistics and consulting costs, and the creation of a 100 trillion won National Growth Fund to spur domestic investment. Industry Minister Kim Jung-kwan said the plan would be rolled out quickly to help exporters adapt to shifting trade conditions. “Our goal is not only to minimize tariff damage but also to create new opportunities for Korean industry,” he said. 2025-09-03 10:58:42 -
Hyundai Motor union launches first strike in seven years amid wage standoff SEOUL, September 3 (AJP) - Hyundai Motor Company’s labor union began a partial strike on Wednesday, ending a rare seven-year stretch of labor peace at South Korea’s largest automaker as wage talks collapsed. The union stages two-hour work stoppages during morning and afternoon shifts at the company’s domestic plants on Wednesday and Thursday, and plans to extend the walkout to four hours on Friday. The action halts production across Hyundai’s key facilities in the country. The strike is the first since 2019. Over the past six years, labor and management had managed to sidestep strikes even through the pandemic and a period of heightened trade tensions between South Korea and Japan. This year, however, negotiations broke down after 20 rounds of talks since June 18. Hyundai had offered a second proposal that included a base salary increase of 95,000 won, or about $68 a month, performance bonuses worth 400 percent of monthly pay plus 14 million won in cash, and 30 shares in the company for each worker. Union leaders rejected the package, demanding a larger monthly raise of 141,300 won, performance pay equivalent to 30 percent of last year’s net profit, and an extension of the retirement age to 64 without income gaps. “It is regrettable that the union decided to strike despite insufficient substantial discussions on negotiation items,” Hyundai said in a statement, adding that it would continue to seek “reasonable" results that allow labor and management to coexist. The dispute centers on wages and retirement age, with the union pointing to Hyundai’s strong performance — a record 14.2 trillion won operating profit last year and a 7.3 percent revenue increase in the second quarter. Management, however, has cited rising concerns over U.S. tariff pressures and a slowdown in the global electric vehicle market. The unrest spread beyond Hyundai. On Wednesday afternoon, unions at HD Hyundai, the country’s top shipbuilder, also walked off the job. 2025-09-03 10:53:15 -
Elderly poverty in South Korea projected to spike by 2050 without pension reform SEOUL, September 2 (AJP) - South Korea's elderly poverty rate could soar to more than 40 percent within the next 25 years if the current pension system remains unchanged, according to a government-affiliated research report disclosed on Tuesday. The report, released last December by researchers at the National Pension Research Institute, projected that under the existing system, which sets the income replacement rate at 40 percent and the contribution rate at 9 percent, the elderly poverty rate will rise from 37.4 percent this year to 42.3 percent by 2050. It also predicted that the "poverty gap," which measures the depth of poverty, will widen significantly, indicating that living conditions for poor seniors will worsen further due to demographic changes. Researchers said that while the number of "young-old" seniors aged 65 to 74 is expected to decline, the proportion of "old-old" seniors aged 75 and older, who typically have lower income levels, is projected to rise sharply. This shift is seen as a key driver of widening income inequality among the elderly. The report said that those now aged 75 and older did not have sufficient time to participate in the national pension system, which was introduced in 1988. According to birth and death results released by Statistics Korea in February, the country's total fertility rate rebounded for the first time in nine years to 0.75 in 2024, but it still remains less than half the OECD average of 1.51 as of 2022. Rival political parties reached a bipartisan agreement on pension reform in mid-March, the first in 18 years, though it has been seen as a limited parametric reform, adjusting contribution and replacement rates rather than fundamentally changing the system. The reform aims to gradually raise the contribution rate from 9 percent to 13 percent by 2033, while the income replacement rate will be raised to 43 percent. The government said the reform, combined with an increase in the investment return target for the pension fund from 4.5 percent to 5.5 percent, is expected to delay the projected depletion of the fund by 15 years, from 2056 to 2071. 2025-09-02 17:23:07 -
UNICEF sends 2.7 million vaccines to North Korea this year to restore routine immunization SEOUL, September 02 (AJP) - North Korea has received nearly 2.72 million vaccine doses this year through UNICEF, restoring nationwide immunization services disrupted during the pandemic, A United Nations official told AJP through a written interview. Roland Kupka, UNICEF's interim representative to North Korea, said that three chartered flights delivered 1.57 million Pentavalent, 678,000 Measles-Rubella (MR), and 469,000 Inactivated Polio Vaccine (IPV) as of August this year. The flights arrived in January, March, and May, with two additional flights scheduled later this year. Pentavalent, or Penta, protects children from five major diseases, including diphtheria, tetanus, pertussis, hepatitis B, and Hib-related infections. The MR vaccine prevents measles and rubella, while the IPV vaccine guards against polio. These vaccines are central to routine immunization, scheduled childhood vaccinations delivered through the health system, and form the backbone of basic preventive care in low and middle-income countries, including North Korea. Kupka also said "two major water supply projects are under construction and expected to finish by year's end," benefiting more than 23,000 people, including five schools and four health facilities. The projects aim to expand access to safe drinking water in local communities. He added that "25 containers of essential nutrition and medical supplies have been delivered," ensuring continued treatment for malnourished children. Gavi, the Vaccine Alliance, said it continues to support routine immunization in North Korea through partners such as the World Health Organization (WHO) and UNICEF. "In 2024 and 2025, partners have supported several campaigns to help recover immunization coverage to pre-COVID levels," the organization said. The progress marks a sharp turnaround from the pandemic years, when North Korea's border closures cut off vaccine supplies from international organizations. Immunization coverage plummeted from 96 percent in 2019 to 42 percent in 2021, leaving hundreds of thousands of children at risk. UNICEF said the recent deliveries "enabled the successful completion of two nationwide multi-antigen catch-up campaigns," fully restoring routine immunization services. The shipments represent a major recovery since the pandemic. In 2024, UNICEF had already delivered more than 4 million vaccine doses to North Korea, launching a large-scale catch-up campaign. The 2025 shipments build on that effort to maintain immunization coverage. North Korea also faces severe food insecurity. According to a 2022 report from the World Food Programme (WFP), an estimated 10.7 million people, more than 40 percent of the population, are undernourished. The situation is also reflected in a 2025 UN food security report, which found that 16.6 percent of children under five are stunted. To address these needs, WFP is providing specialized nutritious foods to vulnerable groups such as pregnant women, nursing mothers, and young children through nurseries, hospitals, and schools. 2025-09-02 17:19:56 -
Lotte Biologics signs manufacturing deal for immunotherapy drug with US firm SEOUL, September 02 (AJP) - Lotte Biologics said Tuesday it had signed a manufacturing agreement with a U.S. biotechnology company to produce an experimental immunotherapy. The deal, which runs through 2030, covers late-stage clinical trials and potential commercialization of the drug candidate, which is being tested across multiple disease indications. The name of the client company was not disclosed under confidentiality terms. Lotte Biologics, a unit of the Lotte conglomerate, is focusing on expanding its contract development and manufacturing organization, or CDMO, business, which produces drugs on behalf of pharmaceutical companies. Its U.S. production base, the Syracuse Bio Campus in New York, is positioned as a cornerstone of that growth strategy. The company said it plans to operate under a single quality-control system across both the Syracuse facility and its upcoming Songdo Bio Campus in South Korea, scheduled to begin operations in 2027, in order to attract more partnerships with American biotech firms. 2025-09-02 16:52:10 -
Korea's chaebol families add nearly $25 billion in wealth in first half of 2025 SEOUL, September 02 (AJP) - The fortunes of South Korea’s largest business dynasties swelled in the first half of the year, buoyed by rising share prices in their sprawling corporate empires, according to data released Tuesday. Combined assets held by the owner families of the country’s 50 biggest conglomerates rose by nearly 33 trillion won, or about $24.8 billion, between January and August, research firm Leaders Index said. Their holdings were valued at 144.4 trillion won ($108.6 billion) as of late August, based on the firm’s analysis of 623 family members with equity stakes in affiliated companies. Samsung heirs were the biggest beneficiaries. Samsung Electronics Chairman Lee Jae-yong saw his wealth climb 4.7 trillion won to roughly 16.6 trillion won, largely driven by a 48 percent surge in Samsung C&T shares. His stake in the company rose in value by 1.8 trillion won. Lee's sister, Lee Boo-jin, who runs Hotel Shilla, gained 1.9 trillion won, while their mother, Hong Ra-hee, honorary director of the Leeum Museum of Art, added 1.7 trillion won. Altogether, the Samsung family’s wealth grew by 10 trillion won, accounting for about one-third of the total gains among chaebol families. Outside Samsung, Hyosung Group Chairman Cho Hyun-joon’s assets rose by 2 trillion won to 3 trillion won, partly through stake transfers and family share exchanges after the death of former honorary chairman Cho Seok-rae. Hyundai Motor Group’s Chairman, Chung Eui-sun, added 1.8 trillion won, lifted by stock splits and share price increases across affiliates, including logistics arm Hyundai Glovis. Not all saw gains. Kyobo Life’s Chairman, Shin Chang-jae, lost nearly 800 billion won as his assets fell 25 percent to 2.5 trillion won, dragged down by declines in his company’s share value. Yoo Jung-hyun, chairwoman of NXC and widow of Nexon founder Kim Jung-ju, also shed more than 200 billion won after selling part of her stake and as the company’s per-share valuation dropped. 2025-09-02 16:43:07 -
Hanwha showcases submarines, weapons systems in bid for Polish defense contracts SEOUL, September 02 (AJP) - Hanwha Group said Tuesday its three defense affiliates were taking part in Eastern Europe’s largest arms fair this week, as the South Korean conglomerate looks to strengthen its foothold in Poland and compete for a major submarine modernization program. From Sept. 2 to 5, Hanwha Aerospace, Hanwha Systems and Hanwha Ocean are exhibiting at the 33rd International Defense Industry Exhibition, or MSPO 2025, in Kielce, Poland. The companies have set up a joint booth spanning nearly 300 square meters to present what they describe as integrated land, air and naval solutions. Hanwha Ocean is highlighting its 3,000-ton Jangbogo-III (KSS-III) Batch II submarine, currently in service with the South Korean Navy. Equipped with air-independent propulsion and lithium-ion batteries, the vessel can remain submerged for more than three weeks and is capable of launching ballistic missiles. The display is aimed squarely at Poland’s ORKA program, a centerpiece of Warsaw’s defense modernization drive. The initiative seeks to replace the Polish Navy’s lone Russian-built Kilo-class submarine with a new fleet of diesel-electric vessels. Given the Baltic region’s coastal operating environment, Hanwha said it was also prepared to offer patrol ships, fast missile craft and unmanned surface vessels tailored to local needs. Hanwha Ocean said it planned to sign agreements with Polish shipbuilders covering technology transfer, workforce training and marine development funding. Hanwha Aerospace, meanwhile, is promoting the K9A2, an upgraded version of its self-propelled howitzer. The new model features fully automated shell loading, raising its firing rate from six to nine rounds per minute while cutting required crew from five to three. Hanwha Systems is also unveiling its Active Protection System for the first time, a defensive suite designed to detect and neutralize incoming threats such as anti-tank missiles. “Hanwha has built deep trust with Poland by keeping promises through the K9 and Chunmoo projects,” said Son Jae-il, chief executive of Hanwha Aerospace and Hanwha Systems. “We will continue to play an active role in building a stronger defense ecosystem together.” 2025-09-02 15:58:21 -
![[K-Tech] UNIST develops AI system to spot microscopic assembly defects in seconds](https://image.ajunews.com//content/image/2025/09/02/20250902141326299159_518_323.jpg)
[[K-Tech]] UNIST develops AI system to spot microscopic assembly defects in seconds SEOUL, September 02 (AJP) - The Ulsan National Institute of Science and Technology said Tuesday it had developed an artificial intelligence-based inspection system that can detect microscopic assembly defects in less than three seconds, a breakthrough that could speed up manufacturing and cut costs across multiple industries. The system, designed by a team led by Professor Jung Im-doo of the university’s Department of Mechanical Engineering, uses a “smart jig” — a fixture that holds parts in place during assembly — fitted with soft, 3D-printed sensor caps. When components are clamped down, the caps deform slightly to reflect the surface profile. AI algorithms then analyze those patterns to spot irregularities the moment parts are secured. Defects often occur when component surfaces do not align properly, weakening joints and lowering product quality. Traditional inspection methods can take more than 10 minutes per part. The new system reduces that to just 2.79 seconds, enabling full inspection without slowing automated production lines, the researchers said. The system visualizes results in heat maps, allowing operators to quickly identify both the location and severity of flaws. It is capable of detecting defects as small as a few hundred micrometers, or millionths of a meter. Professor Jung said the technology could be applied in sectors ranging from electric vehicles and home appliances to semiconductors and aerospace. “We expect annual cost savings in the hundreds of millions of won through reduced inspection staff and time, improved quality reliability, and minimized defects,” he said in a statement. 2025-09-02 15:52:20 -
KAIST uncovers hidden mechanism in next-generation memory technology SEOUL, September 02 (AJP) - Researchers at the Korea Advanced Institute of Science and Technology (KAIST) have successfully visualized, for the first time, how tiny particles inside memory devices move and interact when data is written and erased. The discovery could help make future memory chips faster, smaller, and more reliable — a major breakthrough for next-generation computing and artificial intelligence. On September 2, 2025, KAIST announced that two research teams, led by Professor Seungbum Hong and Professor Sang-Hee Ko Park of the Department of Materials Science and Engineering, have figured out exactly how electrons and oxygen ions behave inside a new kind of memory called ReRAM. Their study shows that these particles move together in complex ways and that this movement directly affects how memory stores and deletes information. ReRAM stands for Resistive Random Access Memory. It is considered one of the most promising alternatives to current memory technologies because it can store data even when the power is off, has a simple structure, and operates at high speed. Unlike traditional memory chips, ReRAM uses special materials that can change their electrical resistance when a small voltage is applied. This change in resistance is what turns memory "on" and "off." Until now, scientists knew that ReRAM worked because of tiny defects called oxygen vacancies, but they did not fully understand how those defects actually caused the resistance to change. That knowledge gap made it harder to design ReRAM chips that are fast, stable, and energy-efficient. To solve this mystery, the KAIST team built a custom research tool called a “multi-modal scanning probe microscope.” This instrument combines several advanced types of microscopes into one machine. Each type looks at something different: one sees how electric current flows (C-AFM), another tracks the movement of oxygen ions (ESM), and a third detects changes in surface voltage (KPFM). Using this tool, the researchers could watch what was happening inside the memory chip in real time. They tested a thin film made of titanium dioxide (TiO2), a common material used in ReRAM, and applied tiny electrical signals to simulate how memory gets written and erased. What they saw was that electrons need open “paths” to flow through the material, and those paths depend on where the oxygen vacancies are. When more vacancies are bunched together, the paths open up and current flows easily. When the vacancies are spread out, the paths disappear and current is blocked. This directly explained how the memory turns on and off. The researchers also found something new: electrons and oxygen ions don’t just act separately. They interact in complex ways, and their movement is closely linked. This means that both types of particles must be controlled carefully to make ReRAM more stable and efficient. One important discovery was related to how memory can be “erased.” During this process, oxygen ions are pushed into the material, helping the memory stay in the "off" state longer. This insight could be key to making future ReRAM devices more reliable. "This is the first time anyone has been able to directly observe the spatial relationship between oxygen defects, ions, and electrons inside a working memory device," said Professor Hong. "Our approach can be used to study many other materials used in next-generation semiconductors, and could help open up entirely new areas of research." The first author of the paper is PhD candidate Chaewon Gong of KAIST’s Department of Materials Science and Engineering. The study was published on July 20, 2025, in ACS Applied Materials and Interfaces, a leading journal published by the American Chemical Society. The research was supported by the Ministry of Science and ICT and the National Research Foundation of Korea. 2025-09-02 15:27:12 -
President Lee to speak at UN General Assembly later this month SEOUL, September 2 (AJP) - South Korean President Lee Jae Myung will attend the United Nations General Assembly in New York later this month. According to the presidential office, Lee will deliver a keynote address on September 23 and chair an open debate of the Security Council the following day. In his keynote speech, Lee will share South Korea's experience of overcoming difficulties after the Korean War, as well as recovery and development in politics and the economy, and outline his administration’s vision and policies on the Korean Peninsula and other global challenges. His 15-minute address will be delivered during the morning session. Lee will also preside over a Security Council open debate on artificial intelligence and international peace and security, marking the first time a South Korean president has chaired such a meeting. South Korea holds the rotating presidency of the Council for September. "The General Assembly’s high-level week is held every September, bringing together leaders from all 193 member states and making it the world’s largest multilateral diplomatic stage," presidential spokesperson Kang Yu-jung said. "With the U.N. marking its 80th anniversary this year, global attention will be greater than ever," she added. 2025-09-02 15:23:53