AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Ongoing War Leads to Subsidy Cuts, Restructuring in K-Chemical Industry
    Ongoing War Leads to Subsidy Cuts, Restructuring in K-Chemical Industry The prolonged conflict in the Middle East has heightened uncertainty over raw material procurement and profitability in South Korea's petrochemical industry. The recent termination of government naphtha subsidies has intensified restructuring pressures within the sector. In Yeosu, discussions about corporate mergers are accelerating, raising expectations for production capacity reductions. However, in Ulsan, disagreements over the Shahin project have led to complications regarding capacity cuts.According to industry sources, the government ended the subsidy for imported naphtha at the end of last month. Concerns are growing that the ethylene spread, a key profitability indicator for basic petrochemical products, will fall below $100, well below the breakeven point, starting in August when the unsubsidized imports arrive.The decline in profitability for ethylene, propylene, and butadiene derived from naphtha has increased the need for business restructuring in Yeosu and Ulsan. However, differing interests among companies in each region have resulted in varying speeds of restructuring.In Yeosu, LG Chem and GS Caltex are currently discussing restructuring plans, aiming to finalize them in the second half of the year. If both mergers are successful, approximately 2 million tons of ethylene production capacity could be reduced in the Yeosu complex.However, there are differences in positions regarding the merger targets and business scope. A simple merger of LG Chem's naphtha cracking facility and GS Caltex's mixed feedstock cracking facility could disadvantage GS Caltex, which has more advanced equipment. Therefore, it is reported that both companies want to include some specialty sectors in their collaboration to ensure the merged entity's sustainability.In Ulsan, discussions on restructuring involving SK Geo Centric, Daehan Chemical, and S-Oil face significant challenges. SK Geo Centric and Daehan Chemical have already reduced production capacity through facility shutdowns and cuts, arguing that S-Oil, which is launching new production facilities, should bear the burden of reductions.Conversely, S-Oil emphasizes that including the new Shahin project, which has higher cost and energy efficiency than older facilities, in the reduction plan contradicts the purpose of restructuring the petrochemical industry. The rationale is that the goal of government-led restructuring is to phase out older, less efficient facilities and transition the industry toward high-efficiency operations, making it illogical to reduce competitive new facilities.The issue is that once Shahin is fully operational, the domestic supply of basic petrochemical products like ethylene, propylene, and butadiene will significantly increase. Even if companies in Daesan and Yeosu close or merge facilities to reduce production, the influx of new supply from Shahin could largely offset the intended reduction effects. Ultimately, the restructuring in Ulsan will test the government's priorities between total capacity reduction and facility competitiveness.An industry insider stated, "Significant social costs arise during the restructuring process, and if S-Oil is the only company increasing production capacity, measures to share the corresponding burden are necessary. This situation cannot be resolved solely through voluntary negotiations among companies; the government must actively mediate and clearly indicate its commitment to maintaining petrochemicals as a national key industry."* This article has been translated by AI. 2026-07-16 05:04:00
  • Yeocheon NCC and Lotte Chemical Merger Announcement Next Week
    Yeocheon NCC and Lotte Chemical Merger Announcement Next Week As the conflict between the U.S. and Iran continues, uncertainty in the petrochemical industry has reached new heights. Next week, the merger of Yeocheon NCC and Lotte Chemical's naphtha cracking facility in Yeosu is expected to be finalized. Following the reduction of ethylene and other basic petrochemical production at the Daesan Industrial Complex, attention is focused on whether this merger can provide a breakthrough for the struggling petrochemical sector.According to industry sources on July 15, the government plans to hold a meeting regarding the Yeosu NCC merger around July 20 to decide on approval. It is anticipated that the meeting will finalize the operational integration plan for Yeocheon NCC, a subsidiary of Hanwha Solutions and DL Chemical, and Lotte Chemical's Yeosu NC plant.If approved, the Korea Development Bank and other creditors will begin determining the scale of financial support for the four petrochemical companies in Yeosu, while the Fair Trade Commission will expedite the merger review process under the special petrochemical law.Previously, Hanwha Solutions, DL Chemical, and Lotte Chemical submitted a plan to the government to close Yeocheon NCC's plants 2 and 3 and establish a merged entity with the remaining plant 1 at Lotte Chemical's Yeosu facility. An industry insider noted, "With the stabilization of the naphtha and ethylene supply chain and agreements on employee retention, discussions on the establishment of the merged entity have gained momentum. As planned, the annual ethylene production is expected to decrease by approximately 1.37 million tons from Yeocheon NCC's plants 2 and 3."Domestic petrochemical companies producing basic petrochemicals are facing structural downturns exacerbated by oversupply from China and uncertainties in the Strait of Hormuz. The ethylene spread, a key profitability indicator, has made it difficult to avoid losses without government subsidies since the beginning of the year.Yeocheon NCC, the largest in the country, has accumulated operating losses since 2022, reporting a deficit of 569.2 billion won and total borrowings of 1.5 trillion won as of the first quarter. Analysts suggest that without the 200 billion won capital increase and 300 billion won loan support from its parent companies, Hanwha Solutions and DL Chemical, it could have faced a fate similar to Homeplus and the Chungang Group.Lotte Chemical, a key affiliate of the Lotte Group, is also grappling with a downgrade in its credit rating due to poor performance in the basic petrochemical sector. The company has begun implementing measures to secure liquidity, including the sale of its overseas subsidiary, Pakistan LCPL.Industry observers predict that creditors will provide financial support for the four petrochemical companies in Yeosu amounting to around 2 trillion won, which is double the support for the Daesan Industrial Complex. The creditors plan to finalize their financial support strategy, including new funding, debt restructuring, and perpetual bond conversions, by August.Lee Deok-hwan, an emeritus professor of chemistry at Sogang University, stated, "To normalize the petrochemical industry, companies must achieve meaningful results by transitioning to high-value specialty products with the support of government finance, administration, and policy. Given the renewed importance of refining and petrochemicals due to the Middle East conflict, the government also needs to minimize negative perceptions of the industry."* This article has been translated by AI. 2026-07-16 05:04:00
  • Biden Says Cancer Treatment is Going Well, Memoir Set for Release After Midterms
    Biden Says Cancer Treatment is Going Well, Memoir Set for Release After Midterms Former President Joe Biden recently shared an update on his health through a newly released video. He is also expected to explain his reasons for not seeking re-election in a memoir set to be published after the November midterm elections.On the 15th, Little, Brown and Company, the publisher of Biden's memoir titled 'Promise Me, America,' released a video featuring the former president. In the video, Biden stated, "I am spending a lot of time with my family," and added, "I have been diagnosed with cancer and am undergoing treatment, which is going very well." He expressed gratitude to everyone who has offered prayers, support, and kindness.Regarding the content of the book, Biden explained, "It addresses the crises our nation faces, the decisions I made, and the reasons behind them," emphasizing that it reflects his commitment and beliefs about America. The book will specifically cover topics such as the COVID-19 pandemic, economic policy, the withdrawal from Afghanistan, the war in Ukraine, and his decision to not run for re-election, according to the New York Times. The title 'Promise Me, America' echoes his 2017 memoir 'Promise Me, Dad,' which focused on his late son, Beau Biden. The memoir spans 448 pages and is priced at $42 in the U.S.The book is scheduled for release on November 17, two weeks after the midterm elections, and just three days before Biden's 84th birthday. USA Today noted that the timing allows Democratic candidates to focus on the election without the pressure of discussing the memoir's content during the campaign. However, AP reported that if details from the book leak before the midterms or if the publisher begins promotional efforts, it could complicate the Democratic leadership's strategy to criticize the Trump administration.The publisher did not disclose the exact advance payment made to Biden for 'Promise Me, America,' but AP noted that most presidents have secured at least seven-figure deals (over $1 million).Since leaving office early last year, Biden has engaged in very few public activities over the past 18 months, according to the New York Times. However, First Lady Jill Biden published her memoir 'The View from the East Wing' last month. Biden made a surprise announcement during a talk show promoting his wife's book, stating that his memoir would be released in September, although it has been delayed by two months.Meanwhile, some Republican politicians and conservative commentators have mocked Biden online, referencing his use of an auto-pen during his presidency. Representative Jason Smith (R-Mo.) posted on social media platform X (formerly Twitter), asking, "Did this (book) also get written by an auto-pen?"* This article has been translated by AI. 2026-07-16 05:04:00
  • Hanois Mini-Apartment Market Faces Rising Vacancies Amid High Rents
    Hanoi's Mini-Apartment Market Faces Rising Vacancies Amid High Rents The rental market in Hanoi is experiencing a significant divide between residential and industrial properties. While the number of mini-apartments is increasing, high rents are leading to rising vacancies. In contrast, industrial real estate is seeing rent increases due to a resurgence in demand for logistics and advanced manufacturing.On July 15, local media reports indicated that areas densely populated with mini-apartments, such as My Dinh, Phu Do, Ho Tung Mau, Pham Van Dong, Tran Thai Tong, Duong Quang Ham, and Cuong Dinh, are seeing an uptick in notices seeking tenants. A landlord operating a 20-unit mini-apartment building reported that 20-25% of the units in a recently completed building have been vacant for over three months. The monthly rent for rooms measuring 20-28 square meters, equipped with a bed, refrigerator, wardrobe, washing machine, and air conditioning, ranges from 4.2 million to 6.5 million dong (approximately $177 to $275). The increase in vacancies is attributed to both rising supply and the financial burden of high rents. The landlord noted that several new mini-apartment buildings have started leasing around the same time, making it difficult to lower rents due to loan interest burdens.Another landlord managing properties near the Korean community in My Dinh stated that nearly half of the mini-apartments completed nearly a year ago remain unoccupied, with vacancy rates rising by an additional 15% in the second quarter. He explained, "While the supply of newly built mini-apartments has increased, tenants are cutting back on spending, and landlords are reluctant to lower prices, leading to higher vacancy rates."Tenants Prioritize Affordability Over LocationTenants are increasingly prioritizing actual costs over proximity to work. A technology company employee in the Cau Giay area, identified as C, reported struggling for nearly two weeks to find a suitable room near his workplace. Nearby mini-apartments typically charge monthly rents of 4.5 million to 8 million dong (approximately $191 to $340) for units sized 20-30 square meters. He currently shares a 55-square-meter apartment in the Tay Mo area, located slightly farther from the city center, with three friends for 9 million dong (about $383) per month. Including utilities and management fees, his share amounts to around 3 million dong (approximately $127) per month.Price indicators also reflect the financial strain on tenants. According to the online real estate platform Batdongsan, the number of mini-apartment rental listings increased by over 3% last month compared to the previous month, yet rents rose by 3.4% compared to the same period last year. The consumer price index (CPI) for the second quarter rose by approximately 5.3% year-on-year, with the housing rental index increasing by 6%, contributing 0.85 percentage points to the CPI rise. Le Hoang Chau, president of the Ho Chi Minh City Real Estate Association, stated, "Rents are considered reasonable when they account for about 20% of income; exceeding 25% puts significant pressure on living expenses and savings."In response to these challenges, the Hanoi government is working to establish rental price standards for housing. The Hanoi People's Committee has tasked relevant departments with creating rental price guidelines for housing investment projects, with completion expected by the third quarter of 2026. Currently, rental prices for social housing in Hanoi vary from 48,000 to 198,000 dong per square meter per month, depending on the building's height.Industrial Rental Market on the RiseMeanwhile, as residential mini-apartments grapple with vacancies, the industrial real estate sector is witnessing price increases driven by recovering demand. According to CBRE Vietnam, the industrial real estate market in northern Vietnam saw an increase in new supply and recovering rental demand in the first half of this year. The rental price for completed warehouses in the northern region rose by 5.4% year-on-year to approximately $4.9 per square meter per month, while completed factory rents increased by 3% to about $5.1 per square meter per month. The expansion of investments by major companies such as Samsung, LG, and Foxconn in the electronics and advanced technology sectors has also contributed to the demand for industrial land.The southern industrial real estate market is also showing signs of recovery. In the southern region, including Ho Chi Minh City, Binh Duong, Dong Nai, Long An, and Ba Ria-Vung Tau, the absorption area for industrial land in the first half of the year reached 124 hectares, a 125% increase compared to the same period last year. Major tenants include those in the electrical, electronics, and logistics sectors.Experts believe the mini-apartment market has moved beyond a phase where units were quickly filled upon completion. Pham Duc Toan, CEO of EZ Property, explained, "The simultaneous operation of new buildings has led to a surge in supply, and the financial burden on tenants is preventing demand from absorbing it all." Bo Hong Tang, deputy general director of DKRA Consulting, added, "Buildings with good locations, professional management, and reasonable rents are advantageous, but average-quality buildings may need to consider lowering rents or offering service benefits."Amid these developments, online users are also paying attention to the burden of rental prices. One commenter noted, "High prices make customers more cautious, and increased competition signals market adjustments." Another user remarked, "For 4 million dong, it’s better to gather people and rent an entire apartment; honestly, it’s hard to find tenants for a room costing 6.5 million dong that’s less than 30 square meters."* This article has been translated by AI. 2026-07-15 23:08:00
  • Ecopro BMs 1.2 trillion won capital increase halted by financial regulator
    Ecopro BM's 1.2 trillion won capital increase halted by financial regulator Ecopro BM's plan for a 1.2 trillion won capital increase has been halted by the Financial Supervisory Service (FSS).On July 15, the FSS announced that it had requested Ecopro BM to submit a correction report the previous day.The request was made because the securities registration statement was either improperly formatted or contained false information regarding important matters, or failed to include significant details, which could hinder reasonable investment decisions by investors or lead to serious misunderstandings.As a result of the FSS's request for corrections, the effectiveness of Ecopro BM's securities registration has been suspended. If Ecopro BM does not submit the correction report within three months, the capital increase will be withdrawn.Ecopro BM had announced on June 30 that it decided to pursue a capital increase of 1.2 trillion won to fund the acquisition of securities from other companies, facility investments, and operational expenses. This amount corresponds to approximately 10.1% of the total number of existing shares and involves the issuance of 9,909,990 common shares through a public offering of unissued shares.The company stated that this capital increase is a strategic decision to secure funds necessary for the second phase of investment in its nickel refinery in Indonesia and the commencement of mass production at its factory in Hungary.* This article has been translated by AI. 2026-07-15 23:00:00
  • U.S. June PPI Slows, Easing Rate Hike Pressure
    U.S. June PPI Slows, Easing Rate Hike Pressure The U.S. Producer Price Index (PPI) for June fell short of market expectations, confirming a trend of declining prices following the previous day's Consumer Price Index (CPI) report. This has strengthened expectations for a potential interest rate cut by the Federal Reserve, creating a favorable environment for investments in growth sectors such as artificial intelligence and semiconductors.According to the U.S. Bureau of Labor Statistics, the PPI rose 5.5% in June compared to the same month last year, below the market forecast of 6.2% and down from a 6.0% increase in May.On a month-to-month basis, the PPI decreased by 0.3%, contrary to market expectations of no change (0.0%). This marks the first month-over-month decline since August of last year, when it fell by 0.2%. The PPI had increased by 0.6% in May, indicating a 0.9 percentage point drop in just one month.Excluding the volatile food and energy sectors, the core PPI also came in below expectations, rising 0.2% month-over-month compared to the anticipated 0.3% increase.The PPI is a key indicator of changes in production costs for businesses and is considered a leading indicator for future consumer price trends. The latest figures, along with the CPI released the previous day, suggest a reduction in inflationary pressures.Earlier, the June CPI was reported to have increased by 3.5% year-over-year, also below the market expectation of 3.8%. The core CPI rose by 2.6%, falling short of the anticipated 2.8%. Analysts attribute the quicker-than-expected easing of price pressures to falling energy prices due to declining international oil prices and a slowdown in housing costs.The lower-than-expected PPI indicates that reduced costs for businesses may lead to a slowdown in consumer prices. As a result, concerns about tightening monetary policy from the Federal Reserve are expected to diminish, further bolstering expectations for an interest rate cut.* This article has been translated by AI. 2026-07-15 22:40:00
  • Homeplus Receives Lifeline as MBK and Meritz Agree on $200 Million Support
    Homeplus Receives Lifeline as MBK and Meritz Agree on $200 Million Support Homeplus Receives Lifeline as MBK and Meritz Agree on $200 Million SupportNegotiations between MBK Partners and Meritz Financial Group regarding a $200 million emergency operating fund for the financially troubled Homeplus have reportedly reached a preliminary agreement. According to the retail industry and the Homeplus labor union on July 15, MBK Partners and Meritz Financial have found common ground, contingent on MBK Chairman Kim Byung-joo providing personal guarantees for the full amount. In this scenario, Meritz Financial will offer the emergency operating fund loan. The union stated, "The funding issue has been resolved," adding that Meritz Financial is expected to confirm the support at a board meeting on July 16, paving the way for the total $200 million recovery fund. This agreement allows Homeplus to continue its recovery process through an immediate appeal to the court. However, the actual disbursement of funds will be finalized following the Meritz Financial board's decision and the court's ruling.President Lee Jae-myung: We Must Remember the Osong Tragedy and Shift to PreventionPresident Lee Jae-myung emphasized the need to transition the disaster response system from a focus on recovery to one centered on prevention, marking the third anniversary of the Osong underpass tragedy. During a memorial service held on July 15 at the Chungbuk Provincial Office, President Lee stated, "We must shift from responding to accidents after they occur to a preventive approach that stops them before they happen." The remarks were delivered by Jeon Seong-hwan, the Chief of the Integrated Communication Office. He expressed deep condolences to the families of the victims, saying, "I extend my heartfelt sympathies to the bereaved families and victims who carry the unimaginable pain of that day in their hearts." President Lee noted, "The Osong underpass tragedy left a painful lesson for our society," pointing out that there were multiple warnings of danger and ample time to prepare. Jensen Huang: SK Hynix's ADR Listing is Incredibly SuccessfulJensen Huang, CEO of NVIDIA, praised SK Hynix's listing of American Depositary Receipts (ADRs) on the Nasdaq as "incredibly successful" on July 15. According to Yonhap News, Huang made the remarks after attending a 30th-anniversary event for NVIDIA's partnership with Japanese gaming company Sega in Akihabara, Tokyo. He expressed his happiness regarding the ADR listing when asked for his thoughts. SK Hynix is a key partner supplying high-performance HBM (high-bandwidth memory), a crucial component for AI semiconductors, to NVIDIA. Huang's comments suggest that the influx of investment from SK Hynix's ADR listing is a positive sign for the expansion of NVIDIA's AI ecosystem. LS Securities Settles CERCG ABCP Lawsuit with Hyundai, KB, BNK, and Busan BankLS Securities has effectively concluded its compensation dispute with investors over the default of asset-backed commercial paper (ABCP) related to China Energy Conservation and Environmental Protection Group (CERCG). The Seoul High Court issued a recommendation for settlement in the lawsuit with investors, and LS Securities is set to pay the determined compensation. On July 15, LS Securities announced that the Seoul High Court's recommendation for settlement regarding the unjust enrichment claims filed by investors, including Hyundai Securities, BNK Investment & Securities, KB Securities, and Busan Bank, has been finalized. This decision follows a Supreme Court ruling on the lawsuit filed by investors against Hanwha Investment & Securities and the then-Ebest Investment Securities (now LS Securities) after the CERCG-related ABCP default. The Seoul High Court ruled that LS Securities and Hanwha Investment & Securities must jointly pay 24.564 billion won, along with interest at 5% from November 9, 2018, to January 13, 2023, and 12% thereafter until full payment. Hyundai Securities agreed to drop all other claims and bear its own legal costs. MBK Hosts 'Project Crucible' Event Amid Management Dispute with Korea ZincMBK Partners and Youngpoong, currently in conflict with Korea Zinc's management, held an event in the U.S. related to Korea Zinc's 'Project Crucible.' This event comes after MBK and Youngpoong had previously raised concerns about the project's implementation. On July 15, industry sources reported that MBK and Youngpoong hosted a reception in Nashville, Tennessee, inviting local figures. The event was attended by MBK Vice Chairman Yoon Jong-ha and representatives from Youngpoong. During the event, MBK and Youngpoong introduced themselves as the largest shareholder group of Korea Zinc and expressed their support for Project Crucible. Project Crucible involves the construction of an integrated smelter in Tennessee, a project promoted by the current management led by Chairman Choi Yoon-bum, emphasizing U.S.-Korea economic cooperation and the stabilization of critical mineral supply chains.* This article has been translated by AI. 2026-07-15 22:04:00
  • Financial Services Commission Imposes $21.5 Million in Fines on Youngpoong and Korea Zinc for Accounting Violations
    Financial Services Commission Imposes $21.5 Million in Fines on Youngpoong and Korea Zinc for Accounting Violations The Financial Services Commission has imposed a total of 28.9 billion won (approximately $21.5 million) in fines on Youngpoong and Korea Zinc for violating accounting standards. This decision concludes the regulatory process that began last month with the designation of auditors and recommendations for the dismissal of executives.During its 13th regular meeting on July 15, the Financial Services Commission announced the fines against Youngpoong, Korea Zinc, Hankyul LS, Myungga Dairy, and related company officials and external auditors for violations in preparing and disclosing financial statements.The fines for each company are as follows: Youngpoong received the largest fine of 20.47 billion won, followed by Korea Zinc at 8.43 billion won, Myungga Dairy at 319 million won, and Hankyul LS at 208 million won.Fines were also levied against company officials. Four former executives of Youngpoong were fined a total of 1.51 billion won, while two executives from Korea Zinc were fined 763 million won. Two former executives from Hankyul LS received fines totaling 41.6 million won, and two executives from Myungga Dairy were fined 31.9 million won.Sanctions were also confirmed for auditors. Daewoo Accounting Corporation, which audited Youngpoong, was fined 1.068 billion won. The auditors for Myungga Dairy, Jeongmyeong Accounting Corporation, and the Hyun-do and Sonang Accounting Firms were fined 3.6 million won, 10.2 million won, and 2.7 million won, respectively.Investigations revealed that Youngpoong had significantly underreported provisions related to soil and groundwater purification obligations and failed to properly reflect impairment losses on its smelting plant's tangible assets. Korea Zinc was found to have inadequately recognized investment asset impairment losses and goodwill impairment from subsidiaries, omitted disclosures on related party transactions, and obstructed external audits.Hankyul LS was found to have manipulated inventory records, falsely inflating inventory assets and minimizing inventory asset impairment losses. Myungga Dairy was also included in the sanctions for violations of accounting standards.Previously, the Securities and Futures Commission had approved administrative actions against Youngpoong, Korea Zinc, and Hankyul LS on June 10, including auditor designation, recommendations for executive dismissals, and corrective measures. Sanctions against Myungga Dairy were finalized on June 24.* This article has been translated by AI. 2026-07-15 21:40:00
  • MBK and Youngpoong Host Crucible Event in the U.S. Amid Management Dispute
    MBK and Youngpoong Host Crucible Event in the U.S. Amid Management Dispute MBK Partners and Youngpoong, embroiled in a conflict with Korea Zinc's management, held an event in the U.S. related to Korea Zinc's 'Project Crucible.' This event took place despite previous concerns raised by MBK and Youngpoong regarding the project's execution.According to industry sources, MBK and Youngpoong hosted a reception on July 9 in Nashville, Tennessee, inviting local figures. Attendees included MBK Vice Chairman Yoon Jong-ha and representatives from Youngpoong.During the event, MBK and Youngpoong introduced themselves as the largest shareholder group of Korea Zinc, stating their support for Project Crucible.Project Crucible involves the construction of an integrated smelter in Tennessee. The current management, led by Korea Zinc Chairman Choi Yoon-bum, has been promoting the project as part of U.S.-Korea economic cooperation and the stabilization of critical mineral supply chains.However, MBK and Youngpoong previously opposed a capital increase through a third-party allocation during the establishment of a joint venture with the U.S. government, leading them to file for an injunction.MBK stated, 'We have never denied or opposed the strategic value of the U.S. smelter project. The injunction was filed due to the opaque decision-making process and the aggressive push for a third-party allocation that excluded major shareholders.'In contrast, a Korea Zinc representative remarked, 'It is difficult to understand that hostile M&A opponents held a related event without prior consultation with the company regarding a project that the current management, including Chairman Choi Yoon-bum, has been promoting for U.S.-Korea economic cooperation and supply chain stabilization. They should reflect on their previous opposition to capital increases for the Crucible project.'As the U.S.-Korea cooperation project surrounding critical mineral supply chains escalates into a management dispute, tensions regarding project leadership and decision-making processes are expected to continue for the foreseeable future.* This article has been translated by AI. 2026-07-15 21:32:00
  • Jensen Huang Calls SK Hynixs Nasdaq Listing Incredibly Successful
    Jensen Huang Calls SK Hynix's Nasdaq Listing 'Incredibly Successful' Jensen Huang, CEO of NVIDIA, praised SK Hynix's listing of American Depositary Receipts (ADRs) on Nasdaq as "incredibly successful" on July 15.According to Yonhap News, Huang made the remarks after attending a 30th anniversary event for the partnership between NVIDIA and Japanese gaming company Sega in Akihabara, Tokyo. He expressed his happiness regarding the listing when asked for his thoughts on SK Hynix's ADR debut.SK Hynix is a key partner supplying high-performance HBM (high bandwidth memory), a core component for NVIDIA's AI semiconductors. Huang's comments suggest that the influx of investment following SK Hynix's Nasdaq listing could signal positive developments for NVIDIA's AI ecosystem.Following its listing, SK Hynix's ADR surged 27.29% on July 14, the third trading day, as perceptions of undervaluation spread.Huang also announced plans to unveil a large-scale AI collaboration with the Japanese government on July 16. He stated, "Tomorrow can be seen as the starting point for AI in Japan," and indicated that he would announce various collaborations in AI and robotics with major Japanese companies.Despite visiting South Korea twice recently, Huang faced controversy for not visiting Japan. However, he appears to have been preparing for AI collaborations with the cabinet of Sanae Takaichi and major Japanese manufacturers.During the Sega anniversary event, Huang met with Sega CEO Haruki Satomi, former president Shoichiro Irimajiri, and Yu Suzuki, the developer of 'Virtua Fighter.' He acknowledged that without the pioneering 3D graphics of the Japanese gaming industry, NVIDIA and its current AI technology would not exist.Huang remarked, "Japan has always been special to me, and the same goes for Sega. You should be proud that NVIDIA and Sega continue to collaborate today." He recounted how, during NVIDIA's early days, the company faced challenges with its first graphics chip, the NV1, which had issues. Irimajiri's support allowed the project to continue, leading to NVIDIA's eventual success.He requested that Irimajiri, then vice president, convert a planned $5 million investment into private equity to allow for a redesign of the chip, a proposal that was accepted, resulting in the successful development of a new chip.Reflecting on NVIDIA's near bankruptcy in 1995 and the poor technology choices made at the time, Huang stated, "It is unimaginable that we are here today, having become the world's largest company by market capitalization."He emphasized the importance of friendship, partnership, and mutual support, stating, "Even though NVIDIA chose the wrong technology at that time, Irimajiri recognized that we had the right talent. Your friendship, support, and belief in us mean a lot to me."* This article has been translated by AI. 2026-07-15 21:20:00