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US sanctions more North Korean workers over illicit overseas schemes SEOUL, July 25 (AJP) - More North Korean firms and workers involved in illicit schemes abroad have been sanctioned by the U.S. The U.S. Department of the Treasury on Thursday sanctioned North Korean trading company Sobaeksu and three IT workers as "part of a collaborative effort" with the Departments of Justice, Homeland Security, and State, along with the Federal Bureau of Investigation and Homeland Security Investigations to counter North Korea's "wide-ranging revenue generation schemes." The U.S. Department of State also said the same day that the federal agencies are "executing coordinated, decisive actions to keep Americans safe from North Korea's malicious and illicit revenue-generation schemes." It also pledged "rewards totaling up to $15 million for information leading to the arrests and/or convictions, in any country," of seven North Koreans including Sim Hyon-sop, who are accused of involvement in the schemes. The fresh joint measures came after a series of similar actions targeting North Korea's illegal activities were taken earlier. Assessing that North Korea "dispatches thousands of IT workers abroad to orchestrate fraudulent IT work, often from Russia and China," it said their criminal schemes ranging from cryptocurrency theft, illegal transfers of counterfeit goods, and smuggling "often target U.S. companies and U.S. citizens to raise funds for North Korea's dangerous and unlawful and ballistic missile programs," in violation of UN sanctions. "The United States will not stand idly by while North Korea profits from criminal activity to fund its destabilizing actions," it vowed, stressing Washington's "commitment to mitigating such threats posed by North Korea to protect U.S. companies, the U.S. financial system, and American citizens." Under such sanctions, all their assets are frozen, and they are barred from doing business in the U.S. 2025-07-25 13:54:01
Thailand recalls envoy after deadly border clash with Cambodia SEOUL, July 25 (AJP) - Thailand has sharply condemned Cambodia over what it described as a serious violation of sovereignty, following a deadly border clash that left several civilians dead and injured. In response, Bangkok has decided to recall its ambassador to Phnom Penh and lower the level of diplomatic relations between the two countries. In a statement released Friday by the Royal Thai Embassy in Seoul, the Thai government said Cambodian troops had entered Thai territory on July 16 and 23 to plant landmines. One of those explosions injured a Thai soldier. On July 24, Cambodian forces allegedly opened fire near a Thai operations base and continued attacking throughout the morning. Civilian areas, including a hospital, were among the targets. "The Thai government strongly condemns the actions carried out by Cambodian military forces, which constitute a serious violation of Thailand’s sovereignty and international law," the statement said. Describing the attacks as deliberate and hostile, Thai authorities said Cambodia's behavior was part of a dangerous escalation. The government framed the decision to recall its envoy and request the departure of the Cambodian ambassador in Bangkok as a direct consequence of those actions. Bangkok also warned that if the attacks continue, Thailand is prepared to take further self-defense measures in line with international law. "The Thai government strongly demands Cambodia immediately cease its repeated violations of international law," the statement added. "These acts clearly contradict the principles of good neighborliness and sincerity and will severely damage Cambodia’s reputation and trust within the international community." The confrontation marks one of the most serious flare-ups between the two countries in years, drawing attention across the region as tensions remain high. 2025-07-25 13:51:22
South Korea fails to bridge tariff divide with US ahead of looming deadline SEOUL, July 25 (AJP) - South Korean and U.S. trade officials failed to reach a breakthrough on tariff negotiations during high-stakes talks in Washington on Friday, leaving Seoul with limited time to secure a deal before a key deadline next week. South Korean Industry Minister Kim Jeong-kwan and Trade Representative Yeo Han-gu met with U.S. Commerce Secretary Howard Lutnick for 80 minutes, but the discussions ended without agreement, according to a statement from South Korea’s Ministry of Trade, Industry and Energy. The meeting came after the abrupt cancellation of a separate session between South Korean Deputy Prime Minister and Finance Minister Koo Yun-cheol and U.S. Treasury Secretary Scott Bessent, raising tensions around the negotiations. Minister Kim reportedly urged tariff relief on South Korean exports, particularly automobiles, and called for reciprocal tariff exemptions. He also proposed deeper cooperation in key manufacturing sectors such as semiconductors, shipbuilding and batteries, arguing that closer ties in strategic industries should be taken into account when resolving tariff issues. While both sides reaffirmed their intent to reach a “mutually beneficial agreement,” no concrete progress was announced. The urgency is mounting ahead of the August 1 expiration of a moratorium on reciprocal tariff measures imposed under U.S. President Donald Trump. In remarks to CNBC ahead of the meeting, Secretary Lutnick signaled growing pressure on South Korea to make concessions. “Korea, like Europe, very much wants to make a deal,” he said, citing Japan’s recent tariff agreement with the United States as a benchmark. Under that deal, Japan agreed to cut tariffs on key exports, including autos, from 25 percent to 15 percent. In exchange, Tokyo pledged $550 billion in long-term U.S. investment. Foreign media reports suggest Washington is now seeking a similar commitment from Seoul, estimated at roughly $400 billion. With less than a week before the tariff freeze lifts, trade analysts warn that South Korea faces a narrowing window to safeguard its export competitiveness while navigating rising U.S. demands for investment and deeper industrial cooperation. The South Korean trade ministry said additional negotiations would resume “as soon as possible,” though it declined to provide a specific timeline. 2025-07-25 13:38:08
Hyundai Mobis posts strong second quarter despite global headwinds SEOUL, July 25 (AJP) - Hyundai Mobis reported robust second-quarter earnings on Friday, buoyed by the expansion of its electrification business in North America and a favorable foreign exchange environment that helped lift margins across its core auto parts operations. The South Korean auto parts firm posted revenue of 15.94 trillion won, or about $11 billion, for the April–June period, up 8.7 percent from a year earlier. Operating profit jumped 36.8 percent to 870 billion won ($640 million), reflecting improved profitability across its portfolio of high-value components. The company attributed the performance to a ramp-up at its electrification plant in North America and rising global demand for advanced automotive electronics, including sensors and controllers used in electric and connected vehicles. Hyundai Mobis also cited growing global sales of after-sales service parts and company-wide cost discipline as key drivers of the profit surge, alongside currency gains that worked in the firm’s favor. In the first half of the year, Hyundai Mobis recorded revenue of 30.69 trillion won ($21.8 billion) and operating profit of 1.65 trillion won ($1.2 billion), representing year-over-year increases of 7.6 percent and 39.7 percent, respectively. Still, the company acknowledged external headwinds. “Some customer projects have been postponed due to tariff-related uncertainties and weaker electric vehicle demand,” the firm said in a statement. “However, we expect large-scale orders to concentrate in the second half and remain committed to achieving our full-year targets.” As part of a broader push to boost shareholder returns, Hyundai Mobis said it will raise its interim dividend from 1,000 won to 1,500 won per share. It also plans to repurchase and cancel treasury shares worth 110 billion won and retire an additional 700,000 shares already in its holdings. 2025-07-25 13:29:54
President Lee invites Kazakhstan's Tokayev for official visit to Seoul SEOUL, July 25 (AJP) - South Korean President Lee Jae-myung and Kazakh President Kassym-Jomart Tokayev spoke by phone on Wednesday, reaffirming their commitment to strengthening ties across trade, culture, and development. According to a statement released by the Kazakhstan Embassy in Seoul, the two leaders discussed a broad range of cooperation areas, including ongoing and potential joint projects in energy, the automotive industry, education, and medicine. "During the phone conversation, the presidents of Kazakhstan and Korea confirmed their desire to further strengthen multifaceted relations between the two countries," the embassy said. "They thoroughly exchanged views on a wide range of bilateral cooperation." Lee invited Tokayev to make an official visit to South Korea. Tokayev accepted and also confirmed his participation in the C5+K Summit, which will take place in Seoul in 2026. Diplomatic relations between South Korea and Kazakhstan were established in January 1992, shortly after Kazakhstan gained independence in December 1991. A key link between the two countries is the ethnic Korean community in Kazakhstan, known as Koryo-saram, which numbers more than 120,000. High-level visits have continued to support the relationship. Tokayev visited South Korea in August 2021, while former President Yoon Suk Yeol traveled to Astana in June 2024. Kazakhstan's first president, Nursultan Nazarbayev, visited South Korea five times between 1995 and 2016. Trade and investment form a central part of the partnership. Bilateral trade reached around USD 6 billion in 2023, with Kazakhstan exporting approximately USD 3.8 billion in goods to South Korea and importing USD 2.2 billion. In 2024, the total trade volume stood at USD 3.1 billion. Key exports from Kazakhstan include crude oil, metals, and steel. South Korea mainly exports automobiles, electronics, and machinery. South Korea ranks as Kazakhstan's fifth-largest investor and fourth-largest trading partner. Korean investment in Kazakhstan has reached close to USD 9.6 billion since the mid-2000s. Cultural exchange remains strong. The Korean Theatre of Kazakhstan in Almaty, founded in 1932, is the oldest Korean-language theater troupe in the world and remains active. Gangnam University in South Korea has offered Kazakh language and culture programs since 2006. Tourism has grown steadily. In 2023, the number of South Korean visitors to Kazakhstan rose by 125 percent. Flight connectivity also expanded in 2024, with weekly flights between Seoul and Almaty increasing from 10 to 42. Air Astana launched direct flights between Astana and Seoul. 2025-07-25 09:23:00
South Korea lags in government support for waste battery recycling SEOUL, July 24 (AJP) - South Korea risks falling behind in the rapidly expanding global waste battery recycling industry due to insufficient government support, the Korea Enterprises Federation warned Thursday, urging bold policy and financial intervention to secure the nation's competitiveness in a critical sector. According to a new report by the business lobby group, the global market for recycling end-of-life batteries is projected to grow at an average annual rate of 17 percent, ballooning from $10.8 billion in 2023 to $208.9 billion by 2040. The key driver behind this growth is the anticipated surge in retired mobility batteries — used primarily in electric vehicles — which are expected to rise from 170,000 units in 2023 to more than 42 million by 2040. Recycling waste batteries, the federation said, could significantly reduce production costs for critical minerals such as lithium, cobalt, and nickel, while also lowering supply chain risks by decreasing dependence on imports from a small number of countries, including China, Australia, and the Democratic Republic of Congo. But while countries such as the United States, Japan, and those in the European Union have ramped up public funding for battery recycling, South Korea’s level of support remains “woefully inadequate,” the federation said. The U.S. government, for example, has earmarked $3.1 billion for commercializing battery manufacturing and recycling facilities as well as supporting research into critical mineral reuse. The European Union has pledged up to 960 million euros for battery recycling initiatives, and Japan has invested more than 120 billion yen since 2020 in recycling and circular economy projects led by major corporations. By comparison, South Korea’s Korea Environment Corporation has allocated just 1.5 billion won ($1 million) to support electric vehicle battery collection infrastructure, offering companies a maximum of 100 million won per year — a fraction of the funding seen in peer economies. The report called for a comprehensive overhaul of South Korea’s waste battery strategy, outlining three priority areas: expanding public procurement incentives, creating a dedicated customs classification for waste batteries, and strengthening the nation’s post-use battery management systems. “The global battery ecosystem is undergoing rapid transformation,” said Lee Sang-ho, head of the federation’s economic and industrial division. “Without more aggressive institutional and financial support, Korea risks losing its edge in one of the most strategically important industries of the future.” 2025-07-24 17:12:30
Heat wave warning issued again in Seoul as unbearable heat persists SEOUL, July 24 (AJP) - A heat wave warning was issued in Seoul on Thursday, after this summer's brief monsoon season came to an end last week. According to the Korea Meteorological Administration (KMA), the warning was issued around 10 a.m. for the capital as well as surrounding Gyeonggi Province, as scorching heat continues nationwide with daytime highs soaring up to 36 degrees Celsius. The highest-level warning, first issued this season earlier this month before being temporarily eased to an advisory, returned about less than two weeks later. Such a warning is issued when "feels-like" temperatures remain above 35 degrees Celsius for at least two consecutive days or when severe damage is anticipated due to extreme heat. But the capital is expected to endure even more sweltering temperatures this weekend, with daytime highs soaring up to 38 degrees. The KMA forecasts that unbearably hot and humid weather will persist at least until early next month, with temperatures staying above the seasonal average in most parts of the country. Meanwhile, this summer's unprecedented heat wave is already breaking records. According to the KMA, the average daily temperature for the first 22 days of this month stood at 24.4 degrees, the highest for the period since the country's meteorological observations expanded nationwide in 1973. The average daily highest temperature during the period also set a record at 29.4 degrees. 2025-07-24 16:42:34
[[K-Tech]] Hyundai Motor's earnings drop sharply despite record sales, weighed down by US tariffs SEOUL, July 24 (AJP) - Hyundai Motor reported a double-digit drop in second-quarter operating profit on Thursday, as new U.S. tariffs and intensifying market competition eroded margins. Operating profit fell 15.8 percent from a year earlier to 3.60 trillion won, or about $2.6 billion — the company’s sharpest quarterly decline since the third quarter of 2020. The drop came even as revenue rose 7.3 percent to a record 48.29 trillion won, buoyed by strong sales of hybrid vehicles, solid performance in financial services, and favorable foreign exchange rates. Net income reached 3.25 trillion won, while Hyundai’s operating margin slipped to 7.5 percent, down from 9.5 percent a year ago. The company attributed the earnings decline primarily to the full brunt of recently imposed U.S. automotive tariffs, coupled with rising sales costs and increased use of incentives amid fierce competition in major markets. Global vehicle sales edged up 0.8 percent during the quarter. Overseas deliveries increased 0.7 percent to 877,296 units, while sales in the United States rose 3.3 percent to 262,305 units, as buyers rushed to secure vehicles ahead of anticipated price hikes stemming from the tariffs. Hyundai has so far kept U.S. prices steady despite the duties. Sales of eco-friendly vehicles — a category that includes hybrid, plug-in hybrid, and battery electric models — surged 36.4 percent year-on-year to 262,126 units globally. Electric vehicle sales totaled 78,802 units, while hybrid sales hit 168,703, reflecting growing adoption in Europe and an expanded hybrid lineup. Hyundai warned that trade-related uncertainty, particularly around U.S. tariff policy, remains the most significant risk to its outlook. The automaker also faces additional pressure with federal tax credits for electric vehicle purchases in the United States set to expire on October 1, potentially dampening demand in the second half of the year. Still, the company said it would maintain its annual earnings guidance for now. Hyundai added that it is preparing a “systematic response” ahead of the U.S. government’s expected announcement on tariff policy changes on Aug. 1. 2025-07-24 16:39:51
TRAVEL: General's Tomb and the Gwanggaeto Stele Ji'an, July 24 (AJP) - Located in Ji'an, Jilin Province, China, the General's Tomb is a Goguryeo-era stepped stone pyramid made of large, reddish-beige rectangular blocks stacked to the height of a five-story apartment building. With the exception of some blackened patches on the stone surface, it looked almost like a newly built structure. Only the topmost stones showed signs of slight damage or disalignment, a remarkable testament to the tomb’s endurance over the centuries. Its impressive height gives the illusion of the tomb reaching into the sky, with no trees visible behind it from any angle. Surrounding the tomb were massive rocks lying against it as if supporting the mound with their weight. Positioned in groups of three on each side, they appear to be gripping the tomb's base with giant fingers. These are known as ho-bun-seok, or protective boundary stones. In a mound-style stone tomb like this, the structure's weight is concentrated at the base, creating immense lateral pressure. The ho-bun stones prevent the bottom stones from being pushed outward. The entire tomb is constructed from granite, both inside and out. It is the only known example of a complete chukseokbun (stepped stone tomb) and follows a design style that cannot be found anywhere else in China. While many believe the General’s Tomb is that of King Jangsu of Goguryeo (394–491, reigned 412–491), differing views persist in South Korea and no definitive conclusion has been reached. About 1.5 kilometers (0.9 miles) from the General's Tomb stands the Gwanggaeto Stele, erected in 414 by King Jangsu in honor of his father King Gwanggaeto (374–412, reigned 391–412). Enclosed in a glass pavilion, the massive natural stone pillar stands approximately 6.39 meters tall. The width of its four sides varies from 1.38 to 2.00 meters, and its thickness ranges from 1.35 to 1.46 meters. Carved into its granite surfaces are 1,775 Chinese characters, though about 150 are difficult to decipher. The inscriptions primarily recount Goguryeo's history and the accomplishments of King Gwanggaeto, making the stele a crucial source for historical research. Standing in front of it, one is struck by its towering height and the overwhelming presence of a kingdom that once commanded the Manchurian plains. Roughly 300 meters from the stele lies the Gwanggaeto Tomb. From a distance, it appears to be a natural hill. Covered with thick greenery, the massive mound stands alone in the open plain. But as one approaches, it becomes clear that the formation is man-made. Beneath the earth, scattered stones of all sizes reveal its structure. White clover flowers spread across the fields in front of the tomb like snow. Their delicate bloom between the grasses created a quiet, serene beauty. Rising beyond this tranquil scene, the Gwanggaeto Tomb stands tall even after 1,600 years. Its sheer scale is not apparent from afar, but the people standing atop it appear tiny, like ants. Imagining the number of stones and manpower needed to construct it offers a glimpse into Goguryeo’s national strength and King Gwanggaeto's stature. These three sites offer tangible proof that Goguryeo was once a powerful force in Northeast Asia. Ji'an, where they are located, was home to Gungnae Fortress, Goguryeo’s second capital, and served as the kingdom’s political and cultural hub for around 400 years. Today, they are designated UNESCO World Cultural Heritage sites, recognized for their global value but also at the center of complex historical debates between China and South Korea. 2025-07-24 16:37:11
[[K-Tech]] SK hynix posts record earnings on surging AI memory demand SEOUL, July 24 (AJP) - SK hynix reported its strongest-ever quarterly results on Thursday, fueled by surging demand for high-performance memory chips used in artificial intelligence applications. The South Korean chipmaker posted second-quarter revenue of 22.23 trillion won (about $16.3 billion), with operating profit reaching 9.21 trillion won ($6.8 billion) and net income rising to 6.99 trillion won ($5.1 billion), eclipsing its previous record set in the final quarter of 2024. The company achieved an operating margin of 41 percent and a net profit margin of 31 percent — among the highest in the global semiconductor industry. SK hynix attributed the stellar performance to robust sales of both DRAM and NAND flash products, driven by rising demand from global technology firms investing heavily in AI infrastructure. In particular, sales of its high-bandwidth memory (HBM) products, including the advanced HBM3E 12-layer chip, played a pivotal role in driving revenue. "Our strong results reflect SK hynix’s leadership in AI memory and our disciplined focus on profitability," the company said in a statement. It noted that NAND flash shipments outpaced expectations across multiple sectors, while DRAM sales surged on the back of growing adoption of HBM solutions. The strong quarter bolstered the company’s financial position. Cash holdings rose by 2.7 trillion won from the previous quarter to 17 trillion won, while net borrowings declined by 4.1 trillion won. The company’s debt ratio stood at 25 percent, with a net debt ratio of just 6 percent. Inventory levels remained stable, aided by steady customer demand and ramped-up manufacturing of finished products. SK hynix expects momentum to continue through the second half of the year, as major customers prepare new product launches and expand AI model deployments. To meet rising demand, the company said it will roughly double HBM output this year compared to 2024 and expand production of AI-specific memory formats such as server LPDDR modules and next-generation GDDR7 chips for GPUs. In a conference call with analysts, executives confirmed that the company plans to increase capital expenditures above earlier projections, with the majority of new investments dedicated to HBM-related equipment. The company has already sold out its 2025 HBM supply and is in final-stage negotiations with key clients — including Nvidia — to secure next year’s orders. SK hynix is currently supplying its HBM3E 12-layer products to Nvidia and other major players and is preparing to begin mass production of its sixth-generation HBM4 chips in the second half of this year. The company also signaled plans to optimize production by using its Chinese facilities for legacy DRAM manufacturing, while shifting advanced memory output to other sites. It emphasized that operations in China will remain compliant with international regulations and continue supporting customers with long-term demand for DDR4 products. In light of the U.S. government's recent approval for Nvidia's export of its H20 AI chip to China, SK hynix expressed cautious optimism about increased memory demand tied to those shipments. President Song Hyun-jong said the company would move ahead with preemptive investments to secure HBM capacity, citing clear demand visibility into 2026. “SK hynix aims to become a Full Stack AI Memory Provider,” he said, “by delivering timely, high-performance, and high-quality products that meet the evolving needs of the global AI ecosystem.” 2025-07-24 16:06:24