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HD Hyundai Heavy Industries wins US Navy ship repair contract SEOUL, August 6 (AJP) - HD Hyundai Heavy Industries announced Wednesday that it has secured a contract to perform maintenance, repair, and overhaul work on a U.S. Navy vessel. The deal marks the first such agreement since the two countries began discussing broader cooperation in shipbuilding. The contract involves the USNS Alan Shepard, a Lewis and Clark-class dry cargo ship weighing 41,000 tons. The work will be carried out at HD Hyundai Mipo Dockyard in Ulsan and is expected to be completed and the vessel redelivered in November, the company said in a press release. Joo Won-ho, the head of HD Hyundai Heavy’s naval and special ship business unit, highlighted the significance of the contract. "This MRO contract is significant as it's the first order following the government's 'Make American Shipbuilding Great Again (MASGA)' proposal," he said, referring to a South Korean initiative aimed at strengthening cooperation with the United States. South Korea's government proposed the $150 billion shipbuilding cooperation plan as a potential bargaining chip to counter potential tariff measures from the U.S. The contract is the latest step in a series of efforts by HD Hyundai to deepen its ties with the United States. The company signed a strategic partnership with Huntington Ingalls Industries, the largest U.S. defense shipbuilder, in April to collaborate on technology and joint naval ship construction. It also entered into a commercial shipbuilding partnership with the American company Edison Chouest Offshore in June. Other South Korean shipbuilders are also pursuing U.S. market opportunities. Hanwha Ocean, another major player, won a maintenance contract for the auxiliary ship Charles Drew last month and secured two other naval maintenance contracts in 2024. 2025-08-06 16:27:48
Three former Sapeon employees indicted for stealing AI core technology SEOUL, August 06 (AJP) - South Korean prosecutors have indicted three former employees of the artificial intelligence chip company Sapeon, accusing them of leaking core technologies ahead of the company's planned merger with a domestic rival. The Suwon District Prosecutors' Office said Wednesday it charged two of the former employees with theft of industrial technology, unfair competition, and breach of trust. A third former executive was indicted without detention on the same charges. According to prosecutors, the stolen materials, which include source codes and technical documents for AI semiconductor architecture, are valued at approximately 28 billion won, or about $20.2 million. The prosecutors allege that the former Sapeon employees leaked the source codes to external hard drives and personal cloud storage between January and June of 2024. The former executive is accused of leaking separate architectural materials to an external hard drive in March 2023. The indictment states that the former executive left Sapeon before its merger with Rebellions, another domestic AI chip firm, and founded a new AI semiconductor startup. The two employees later joined his new company as engineers. 2025-08-06 16:22:15
[[K-Food]] PHOTOS: Korea's summer stamina food SEOUL, August 06 (AJP) - As the summer heat grips the Korean Peninsula, many find themselves turning to food not just for nourishment but for revival. And while the instinct may be to cool down with icy treats or chilled dishes, Korean tradition takes a different path: when it gets hot, the food gets hotter. Contrary to expectations, Korea’s summer stamina foods — or boyangshik — are served steaming. Rooted in centuries of traditional medicine and culinary wisdom, these dishes are designed to replenish energy drained by heat and humidity, using hot broths and nutrient-rich ingredients to invigorate the body from within. Among the most iconic of these is samgyetang, a restorative ginseng chicken soup. Widely known even among international diners, the dish features a young chicken stuffed with glutinous rice, ginseng, jujubes, garlic, and herbal ingredients, all simmered to tender perfection in a rich, warming broth. Another classic is chueotang, a loach soup prized for its hearty, earthy flavor. Made by boiling and blending loach — a small freshwater fish — the dish is thickened into a deeply savory broth, often seasoned with soybean paste and red chili paste to mask any fishy odor. Radish greens and scallions are added to enhance its depth. The result is a rustic, comforting bowl with a nutty, spicy edge. High in protein and calcium, the dish is often recommended for bone health. Grilled eel, or jangeo-gui, rounds out the trio of summer staples. Long considered a luxury stamina food, eel is rich and buttery yet surprisingly clean in flavor. Typically paired with ginger and a slightly sweet soy-based glaze, it is not only a delicacy but also a nutritional powerhouse — high in protein, vitamins A and E for skin health, and unsaturated fats believed to help prevent chronic illnesses. While each dish carries its own history and flavor, what unites them is their purpose: to restore balance and strength when the body is under seasonal strain. With a range of variations tailored to different tastes and constitutions, Korea’s summer cuisine offers more than just relief — it offers resilience, one hot bowl at a time. 2025-08-06 15:22:04
Elderly account for almost half of total medical expenditures SEOUL, August 6 (AJP) - With South Korea's rapidly aging population and declining birthrate, healthcare spending keeps rising as elderly people make up a larger proportion of those who seek medical treatments. According to data submitted on Wednesday to lawmaker Kim Mi-ae of the main opposition People Power Party (PPP) by the Ministry of Health and Welfare, the proportion of elderly patients aged over 65 rose to 44.8 percent last year, up from 43.1 percent in 2020. Their medical spending amounted to 52.12 trillion won (US$39.8 billion), up nearly 40 percent from 37.47 trillion won (US$28.6 billion) during the same period, accounting for nearly half of the country's total health insurance expenditures. In the first half of this year alone, their spending already reached 27.98 trillion won (US$21.4 billion), making it likely that the total for the year will exceed last year's figure. 2025-08-06 15:16:49
[[K-Tech]] Hanwha Systems delivers first mass-produced AESA radar for KF-21 fighter jet SEOUL, August 06 (AJP) - Hanwha Systems has completed delivery of South Korea’s first domestically mass-produced Active Electronically Scanned Array (AESA) radar for the KF-21 fighter jet, marking a significant milestone in the nation’s push for self-reliant defense technology, the company announced Wednesday. The radar handover ceremony was held Tuesday at the Hanwha Systems Integrated Research Center in Yongin, Gyeonggi Province. The event was hosted by South Korea’s Defense Acquisition Program Administration (DAPA) and organized by Hanwha Systems. Under the contract terms, a total of 40 AESA radar units are scheduled to be delivered by 2028 for integration into the next-generation KF-21 Boramae fighter, developed by Korea Aerospace Industries. The AESA radar is considered a cornerstone of modern air combat capability. Comprising approximately 1,000 transmit/receive modules (TRMs), the radar electronically steers its beam without mechanical movement by varying the phase of signals emitted from each module. This enables rapid scanning across wide angles, allowing the radar to detect, track, and identify multiple targets simultaneously — a sharp contrast to older mechanically scanned radars. The successful mass production of the radar underscores South Korea’s emergence as a credible developer of advanced defense electronics — an achievement made more notable by early skepticism surrounding the project. In 2015, the United States declined to transfer core AESA radar technologies for the KF-21, raising doubts about the feasibility of a fully indigenous solution. Hanwha Systems joined the program as a prototype manufacturer under the leadership of the Agency for Defense Development (ADD), completing the first working prototype in 2020 — just four years after development began. The project is now viewed as a landmark case of South Korea’s growing capabilities in strategic military technologies. “Hanwha Systems is the only domestic company to have successfully developed and mass-produced a homegrown AESA radar for aircraft,” said Park Hyuk, head of the company’s Defense Electronics division. “With export deals already in hand, we’re now accelerating efforts to bring our radar systems to the global market.” Park added that the company aims to broaden the application of its AESA radar technology across a range of platforms, including mid-size fighter jets, light combat aircraft, and even small drones. The KF-21, South Korea’s first domestically developed fighter jet, is expected to serve as the backbone of the country’s air force over the coming decades, and its successful integration of homegrown components is central to Seoul’s ambitions for defense autonomy and global competitiveness in the arms industry. 2025-08-06 14:48:13
Wall Street banks lift growth forecasts for S. Korea as exports, trade outlook improve SEOUL, August 6 (AJP) - Major international investment banks are turning more optimistic about South Korea’s economic prospects, with J.P. Morgan raising its 2025 growth forecast for the country for the second time in a month. J.P. Morgan has lifted its projection for South Korea’s real gross domestic product growth to 0.7 percent on July 24, up from 0.5 percent at the end of June. The 0.2 percentage-point upward revision follows stronger-than-expected second-quarter growth, driven by resilient exports and a rebound in manufacturing, the bank said in a release, citing data from the Bank of Korea. Until late June, J.P. Morgan had held the lowest forecast among eight major global investment banks tracked by the Korea Center for International Finance. The Wall Street firm maintained its average annualized growth forecast for the second half of 2025 at 1.8 percent. It cautioned, however, that third-quarter momentum may taper due to base effects, though ongoing fiscal stimulus should cushion any slowdown. Goldman Sachs also adjusted its outlook upward on Aug. 1, raising its 2025 growth forecast to 1.2 percent from 1.1 percent. The bank cited easing trade-related uncertainty following recent Korea-U.S. negotiations. “The trade announcement alleviates tariff-related risks for key sectors such as semiconductors,” Goldman Sachs said in a note, adding that South Korea now faces no worse conditions than its global peers. This latest revision follows an earlier upgrade in June, when Goldman increased its forecast from 0.7 percent to 1.1 percent, citing reduced U.S. tariff threats, stronger growth outlooks in the United States and China, and expected fiscal support from Seoul. Despite the individual upgrades, the average 2025 GDP growth forecast among the eight international banks remained steady at 0.9 percent as of late July, unchanged for a second consecutive month, according to the Korea Center for International Finance. The Bank of Korea may also revise its growth outlook upward later this month when it releases its August economic update. In May, the central bank projected 0.8 percent growth for the year and said a second supplementary budget could add about 0.1 percentage point to that figure. 2025-08-06 14:36:45
[[K-Tech]] Korean scientists develop AI chip that mimics human brain SEOUL, August 06 (AJP) - A research team at Dankook University in Seoul has developed a next-generation artificial intelligence semiconductor that mimics the human brain by learning through light, the university announced Wednesday — a potential breakthrough in the emerging field of neuromorphic computing. Led by Professor Choi Jun-hwan of the Department of Chemical Engineering, the team engineered a neuromorphic chip that replicates the structure and function of biological neural networks. Unlike traditional semiconductors, which separate memory and processing units, the new device integrates both into a single chip, drastically reducing power consumption and enabling the simultaneous processing of massive data flows. “This device integrates both memory and synaptic functionalities using optoelectronic mechanisms,” said Professor Choi in a statement. “What’s more, it can be implemented on paper substrates, opening new doors for applications in wearable electronics, AI-based sensors, and security systems.” The chip operates on the principles of synaptic learning, with photonic signals triggering charge storage and processing — a method that mirrors how synapses in the human brain transmit and retain information. Its dual-mode memory transistor is capable of both data retention and adaptive learning in response to external stimuli. The study was conducted in collaboration with Professors Yoo Ho-cheon and Oh Se-yong of Hanyang University. The announcement comes at a time when neuromorphic computing — which aims to replicate the cognitive processes of the brain — is attracting increasing interest from both academia and industry. Analysts project the global market for such technologies could grow from $28.5 million this year to $1.3 billion by 2030, representing a compound annual growth rate of nearly 90 percent. Key drivers include the rise of edge computing, Internet of Things (IoT) applications, and autonomous systems, all of which require efficient, real-time data processing at low energy costs — areas where neuromorphic devices excel. 2025-08-06 14:30:59
[[K-Film]] Actor Lee Byung-hun among recipients of special award at Toronto film fest SEOUL, August 6 (AJP) - Actor Lee Byung-hun will receive an award at the upcoming Toronto International Film Festival (TIFF), which is scheduled to take place in Canada next month. According to organizers of the annual festival, Lee has been chosen as one of the recipients of the Tribute Award, which honors those who have made "outstanding contributions to cinema," along with Mexican-born filmmaker Guillermo del Toro, versatile Japanese writer and producer Mitsuyo Miyazaki, also known as Hikari, and Hollywood actress Jodie Foster. Hailing Lee as a "global sensation," TIFF said Lee "has achieved massive success across film and television in both South Korea and Hollywood," with global hits like "G.I. Joe: The Rise of Cobra" (2009) and "Terminator Genisys" (2015). The award will be presented to Lee at a gala event during this year's TIFF, which kicks off its 10-day run on Sept. 4. 2025-08-06 14:11:05
Ex-first lady faces questioning over multiple allegations SEOUL, August 6 (AJP) - Former first lady Kim Keon-hee appeared for questioning over a slew of allegations on Wednesday. The wife of disgraced former President Yoon Suk Yeol arrived at the independent prosecutors' office in Gwanghwamun in central Seoul around 10:10 a.m., several minutes later than scheduled, becoming the first ex-first lady in the country's modern history to be publicly summoned on criminal charges. Amid a barrage of questions from reporters, describing herself as a "layman just like me," she sad, "I am deeply sorry for causing concern to the public." She then added, "I will fully cooperate with the investigation." Kim has been accused of accepting bribes including a luxury handbag and jewelry, being involved in a stock manipulation scheme, and interfering in candidate nominations during the 2022 by-elections. Some of her charges had previously been dismissed, but fresh evidence uncovered by independent prosecutors has led to the reopening of related probes. Meanwhile, prosecutors are expected to soon make another attempt to forcibly bring Yoon in for questioning, as he has been stalling by citing health issues while being held at a remand prison in Uiwang, Gyeonggi Province. 2025-08-06 11:11:38
Coupang posts record revenue, ramps up AI adoption for future growth SEOUL, August 06 (AJP) - South Korean e-commerce company Coupang Inc. reported record quarterly revenue in the second quarter of 2025, buoyed by a broader product lineup and strong international performance, particularly in Taiwan. In a filing with the U.S. Securities and Exchange Commission, Tuesday (local time), Coupang said revenue rose 19.3 percent year-over-year to 11.98 trillion won, or approximately $8.52 billion. The company surpassed its previous record of 11.49 trillion won set the previous quarter. Operating profit reached 209.3 billion won ($149 million), while net income stood at 43.5 billion won ($31 million), marking a return to profitability for the Seoul-based company. Coupang credited the robust results to continued expansion in its core Product Commerce division — which includes Rocket Delivery, Rocket Fresh, Rocket Growth and Marketplace — as well as strong momentum overseas. The number of active customers in the division climbed 10 percent from a year earlier to 23.9 million, while revenue per active customer increased 6 percent to 431,340 won (roughly $307). International operations played a critical role in the company’s record-setting quarter. Coupang’s global and emerging businesses — including its Taiwan subsidiary, luxury fashion platform Farfetch, and food delivery app Coupang Eats — generated 1.67 trillion won ($1.19 billion) in revenue, up 33 percent from the same period last year. Taiwan led the international surge, with Rocket Delivery sales jumping 54 percent quarter-over-quarter and contributing to triple-digit growth in the market, Coupang said. Chairman and founder Bom Kim emphasized the growing role of artificial intelligence in the company’s operations during an earnings call on Wednesday. “AI-powered automation and the strengthening of humanoid robotics will transform Coupang’s operations,” Kim said. “We see this as a long-term engine for both revenue growth and margin expansion.” 2025-08-06 10:46:39