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  • Autumn arrives in Seoul
    Autumn arrives in Seoul Leaves begin to turn red, signaling the arrival of autumn, as seen from N Seoul Tower in central Seoul on Sept. 9, 2026. 2026-09-09 19:02:01
  • Korea-U.S. defense ties shift from one-sided to industrial partnership
    Korea-U.S. defense ties shift from one-sided to industrial partnership SEOUL, September 09 (AJP) - Defense industrial cooperation between South Korea and the United States largely ran one way for decades, with Seoul buying American weapons and relying heavily on U.S. military technology. The once-skewed relationship is becoming more reciprocal as Washington increasingly looks to Korean artillery, shipbuilding expertise and manufacturing capacity to fill gaps of its own. Hanwha Defense USA's entry into a U.S. Army artillery program has provided the clearest example yet of the shift, while growing U.S. interest in Korean shipbuilding is opening another avenue for the two allies to move from a traditional buyer-seller relationship toward joint development and production. "We now need to think about what Korea and the United States can develop and build together," Rep. Yu Yong Weon of the main opposition People Power Party said Wednesday, calling for a model in which the allies "develop together, produce together and maintain together." Yu, a member of the National Assembly's National Defense Committee and a longtime defense specialist, said South Korea has transformed from a major importer of U.S. weapons technology into a global defense exporter supplying countries including Poland and increasingly seeking a role in the U.S. market. "There are an enormous number of areas where the two countries can work together," he said. The comments came at the 2026 AMCHAM-National Assembly Policy Seminar, titled "The Future of U.S.-ROK Defense Industrial Cooperation," hosted by the American Chamber of Commerce in Korea and Yu's office at the National Assembly in Seoul on Wednesday. The seminar focused on moving bilateral defense ties beyond arms sales into co-development, co-production, maintenance, repair and overhaul, or MRO, sustainment and integrated supply chains. It was AMCHAM's first National Assembly policy seminar dedicated to bilateral defense industrial cooperation. The shift has gained momentum since the U.S. Army selected Hanwha Defense USA last month to supply prototypes for its Mobile Tactical Cannon program. The $100.3 million initial agreement covers six K9-based wheeled self-propelled howitzer prototypes. Options could expand the program to as many as 18 systems and raise its cumulative value to $262.9 million. The contract marked the first time a domestically developed South Korean weapons system entered a U.S. military acquisition program. Kim Il-dong, vice minister of the Defense Acquisition Program Administration, said the significance was difficult to overstate after more than three decades in the defense industry. "In more than 30 years working in the defense industry, this is the first time I have seen a completed Korean weapons system enter the U.S. market," Kim said. Brent Ingraham, the U.S. Army's top acquisition official, visited Hanwha Aerospace's production facility in Changwon on Aug. 26, inspecting the K9 production line and discussing cooperation related to U.S. Army modernization, according to the company. The development represents a reversal from the earlier decades of the alliance, when South Korea depended heavily on imported U.S. weapons and technology as it built its domestic defense industry. Korean companies are now seeking not simply to sell finished weapons to the United States but to become part of its defense production base. AMCHAM Chairman and CEO James Kim said the alliance, built over more than seven decades, is increasingly extending into defense, aerospace and industrial cooperation. "By combining Korea's manufacturing strength and growing global reach with American technology and innovation, our two countries can strengthen readiness, unlock investment and enhance shared economic security," Kim said. He said AMCHAM would seek to serve as a "trusted bridge" between policymakers and industry. Shipbuilding puts U.S. needs in sharper focus If the K9 represents the changing relationship on land, shipbuilding could prove a much larger test of how far the new industrial partnership can go. The United States is seeking to rebuild naval capacity while confronting shortages in domestic shipbuilding infrastructure, workforce and production capacity. South Korea, home to some of the world's largest and most technologically advanced shipyards, has increasingly emerged as a potential partner. Kim Il-dong cited the MASGA, or "Make American Shipbuilding Great Again," initiative, Korea's U.S. investment framework and the Korea-U.S. Shipbuilding Partnership Center as platforms that could turn political support for cooperation into concrete projects. South Korea and the United States opened the Korea-U.S. Shipbuilding Partnership Center in Washington on July 23 to support Seoul's planned $150 billion investment in the U.S. shipbuilding sector. The two sides also signed 15 memoranda of understanding covering supply chains, workforce development, joint research and other areas. Korean shipbuilders are already performing MRO work on U.S. naval vessels. HD Hyundai Heavy Industries completed maintenance on the U.S. Navy logistics vessel USNS Alan Shepard and secured another MRO contract this year involving the USNS Cesar Chavez. The opportunity is growing as Washington looks for ways to overcome constraints in its domestic yards. The U.S. Navy said in May that it operated 291 battle-force ships, below the 355 ships required under U.S. law. Earlier force-structure plans have called for 381 crewed battle-force ships and 134 large unmanned surface and underwater vessels, bringing the total to 515 naval platforms. The Trump administration has also created a potential route for foreign shipbuilders to participate more directly. President Donald Trump on Aug. 13 directed the Pentagon to apply what the administration calls the "Finland Model" to as many as three ship classes. Under the approach, a foreign shipbuilder making substantial investment in U.S. yards, training American workers and transferring shipbuilding techniques can temporarily build the first two vessels at its overseas parent yard before subsequent ships are constructed in the United States. The policy is aimed at addressing near-term U.S. capacity shortages while rebuilding the domestic shipbuilding industry. For South Korean shipbuilders, the model potentially creates a role that goes considerably further than repairing U.S. vessels or exporting ships. It could allow Korean companies to bring their production methods, workforce training and supply-chain expertise directly into the rebuilding of America's maritime industrial base. Aerospace looks toward propulsion Aerospace executives at the seminar pointed to another area where the relationship could become more deeply integrated. Kim Young-je, president of GE Aerospace Korea and general manager for Asia Pacific Defense & Systems, said South Korea is one of the company's key markets in the Asia-Pacific region. According to Kim, GE Aerospace works with more than 70 Korean companies and procures about $130 million worth of parts and components from Korean suppliers. He identified advanced propulsion as a potential area for the next stage of Korea's aerospace industry. Developing advanced engines requires capabilities spanning materials, thermal management, power systems, manufacturing, testing and validation, Kim said. GE Aerospace invests about $3 billion annually in research and development and has supplied more than 30,000 military engines to roughly 300 customers worldwide, including the U.S. Air Force, Army and Navy, according to his presentation. "Korea's aerospace industry has reached an important inflection point," Kim said, adding that GE could combine its technology and global experience with Korea's engineering and manufacturing capabilities. Lee Won-ik, country executive for Korea at Lockheed Martin, traced the company's relationship with South Korea from U.S.-built aircraft used during and after the Korean War to more recent industrial programs. He cited the KF-16, T-50 advanced trainer, KF-21 fighter, UH-60 helicopter and Aegis destroyers as examples of how bilateral defense cooperation has evolved. "Going forward, we will continue leveraging Korea's exceptional industrial capabilities and Lockheed Martin's technological leadership to create new opportunities for the defense sectors of both nations," Lee said. Sikorsky's Dylan Landis also outlined potential cooperation involving the X2 next-generation helicopter, including co-development, production and possible exports to third countries. The next step, participants said, will require overcoming barriers that remain between the two defense industries, including procurement rules, export controls, technology security, certification, access to technical data, skilled labor and the need for predictable long-term demand. They also discussed developing South Korea into a regional hub for MRO and military sustainment in the Indo-Pacific. Such a role would push the alliance further beyond the model that defined it for much of the past seven decades: one country supplying weapons and technology and the other buying them. Increasingly, both sides are looking at what each can build for — and with — the other. AJP Takeaways - Korea-U.S. defense industrial ties are becoming more reciprocal after decades dominated by U.S. weapons and technology transfers to Seoul - Hanwha's K9-based artillery system becomes the first domestically developed Korean weapon to enter a U.S. military acquisition program - U.S. shipbuilding constraints are opening another major avenue for Korean yards, investment and manufacturing know-how 2026-09-09 18:33:35
  • Samsungs Lee buying $1.4 billion shares from mother
    Samsung's Lee buying $1.4 billion shares from mother SEOUL, September 09 (AJP) - Samsung Electronics Chairman Lee Jae-yong is buying nearly 1.94 trillion won ($1.4 billion) worth of shares in the technology giant held by his mother, Hong Ra-hee, in an off-market transaction next month, according to a regulatory filing Wednesday. Lee plans to acquire 7,188,793 common shares from Hong, honorary director of the Leeum Museum of Art, at Wednesday’s finishing price of 269,500 won putting the planned transaction at 1.937 trillion won, said the filing issued after the market closed in Seoul. The transaction is scheduled to settle on Oct. 12 and is described in the filing as an acquisition of shares from a related party. Lee currently owns 97,551,953 Samsung Electronics shares, equivalent to a 1.47 percent stake. Upon completion of the planned purchase, his holdings would increase to 104,740,746 shares, raising his ownership to 1.58 percent. The shares to be acquired represent about 0.11 percent of Samsung Electronics' outstanding shares. The filing did not specify a broader purpose for the transaction beyond acquiring shares from a related party, nor did it disclose how Hong intends to use the proceeds. Hong nevertheless is expected to use the proceeds to repay loans from financial institutions that she took out to fully cover inheritance taxes stemming from the estate of late Samsung Group Chairman Lee Kun-hee. The family is also seen as having chosen a direct off-market transaction between major shareholders to minimize the potential impact on Samsung Electronics’ share price that could result from a large sale on the open market. AJP Takeaways: - Samsung Electronics Chairman Lee Jae-yong plans to buy 7.19 million Samsung Electronics shares from his mother, Hong Ra-hee, in an off-market transaction. - The planned deal is valued at 1.94 trillion won based on Samsung Electronics' Sept. 8 closing price. - Lee Jae-yong's stake is expected to rise to 1.58 percent from 1.47 percent after the transaction 2026-09-09 18:33:02
  • Big Pharma Competes in mRNA Cancer Vaccine Development, South Korea Joins Efforts
    Big Pharma Competes in mRNA Cancer Vaccine Development, South Korea Joins Efforts The global competition in messenger RNA (mRNA) platform development has entered a critical phase. Major pharmaceutical companies are investing heavily in new indications for vaccines targeting influenza and cancer, achieving visible results. In South Korea, the government and biotech firms are collaborating to initiate domestic production efforts.According to industry sources, amid competition surrounding next-generation platforms such as antibody-drug conjugates (ADCs), bispecific antibodies, and cell therapies, mRNA cancer vaccines have emerged as a new battleground, demonstrating the potential for personalized treatment. Recently, a personalized mRNA cancer vaccine jointly developed by U.S. pharmaceutical companies Moderna and Merck (MSD) showed positive results in a Phase 3 trial for melanoma, positioning it as a 'game changer.'The competition among big pharmaceutical companies utilizing mRNA technology is expected to intensify. German biotech firm BioNTech signed a deal last year to acquire its competitor CureVac for $1.25 billion in an all-stock transaction, focusing on expanding its mRNA cancer pipeline. This acquisition aims to strengthen research, manufacturing, and commercialization of mRNA-based cancer immunotherapies.Sanofi invested $3.2 billion in 2021 to acquire the mRNA venture Translate Bio, aiming to develop new mRNA vaccines for influenza and other diseases. Pfizer and BioNTech are also advancing their mRNA influenza vaccine into Phase 3 trials, closely following Moderna. In August, Moderna received FDA approval for its mRNA influenza vaccine, 'EmplusiVa,' marking the first mRNA-based flu vaccine to gain regulatory approval in the U.S. GSK recently announced Phase 2 results for its mRNA seasonal flu vaccine candidate and plans to enter Phase 3 trials.An industry insider noted, "The fact that mRNA technology has moved beyond COVID-19 to the seasonal flu market signifies its commercialization stage. If GSK proves competitive in Phase 3 trials, the competition between traditional technologies and mRNA platforms in the flu vaccine market will intensify further."The South Korean government's push for domestic mRNA production is gaining momentum. The Korea Disease Control and Prevention Agency has increased its budget for the 'Pandemic Preparedness mRNA Vaccine Development Support Project' to 40.5 billion won ($30 million) for next year, a 53.4% increase from this year's budget of 26.4 billion won. The government previously announced plans to invest a total of 505.2 billion won by 2028 to localize currently imported mRNA vaccines and secure rapid development platforms. The goal is to support development from preclinical to Phase 3 trials, aiming for product approval by 2028.GC Pharma is a leading candidate for domestic production. The company submitted an Investigational New Drug (IND) application for its COVID-19 mRNA vaccine candidate last month and plans to enter Phase 2 trials this fall. GC Pharma stated, "We aim to establish a proprietary mRNA-lipid nanoparticle (LNP) platform that can be used broadly, not limited to specific vaccine development, and create a structure that allows us to expand our business into contract development and manufacturing (CDMO) beyond mere technological independence."In addition to vaccine developers, movements toward localization are also evident in the CDMO sector. ST Pharm has announced its transition to an 'integrated RNA CDMO' by expanding its existing oligonucleotide CDMO business into mRNA and LNP formulation.Jeong I-soo, a researcher at IBK Investment & Securities, commented, "As global latecomers accelerate their mRNA cancer vaccine development, the demand for CDMO services for early clinical volumes is expected to rise, increasing market interest in domestic companies with mRNA delivery and platform technologies." 2026-09-09 18:32:00
  • mRNA Platform Evolution: Expanding from Vaccines to Therapeutics
    mRNA Platform Evolution: Expanding from Vaccines to Therapeutics The messenger RNA (mRNA) platform has proven its significance with COVID-19 vaccines and is now facing its second major test. Building on the success of COVID-19 vaccines, the platform is expanding into new areas, including seasonal flu, respiratory syncytial virus (RSV) infections, and treatments for cancer and rare diseases. The evolution of the mRNA platform is seen as a pivotal moment for the bio industry as it seeks new growth drivers in the post-COVID era.According to a report by global market research firm Vision Research Report, the global mRNA vaccine and therapeutic market is expected to grow from $10.66 billion in 2024 to $45.04 billion by 2034, reflecting an annual growth rate of 15.5%. Within this, the mRNA cancer vaccine market is projected to nearly double, increasing from $8.1 billion to $15.7 billion during the same period.This growth indicates that mRNA technology is creating new markets by extending beyond preventive vaccines into therapeutic areas. An industry insider noted, "While there were predictions that the mRNA vaccine market might experience a temporary slowdown after the COVID-19 pandemic, it is expected to maintain its growth trajectory through the expansion of new indications such as flu, RSV, and cancer vaccines."The expansion of mRNA into new areas is driven by the structural limitations of traditional egg-based cultivation methods. Typically, it takes 5 to 6 months to produce a single vaccine using egg cultivation, during which time the virus may mutate, reducing the vaccine's effectiveness. In contrast, mRNA can be designed within weeks once the genetic information of the pathogen is obtained, providing a significant advantage in responding to mutations.Leveraging these advantages, the mRNA platform is moving beyond preventive vaccines into therapeutic applications. Recent developments in personalized cancer vaccines and treatments for rare diseases are rapidly broadening its medical applications.There is growing optimism in the market that the era of designing personalized cancer vaccines based on patients' genetic information is becoming a reality. U.S. companies Moderna and Merck (MSD) have reported significant treatment effects in a Phase 3 clinical trial for melanoma patients using their cancer vaccine "Intusmeran Autogen" in combination with the immunotherapy "Keytruda," compared to Keytruda alone. This marks the first time mRNA-based therapies have demonstrated efficacy in the oncology field, extending beyond infectious diseases like COVID-19.Global pharmaceutical and biotech companies are expanding the application of cancer vaccines to more prevalent cancers, such as lung, bladder, and pancreatic cancers, suggesting a shift in the paradigm of cancer drug development.Jung Yoon-taek, head of the Pharmaceutical Industry Strategy Research Institute, stated, "The combination of mRNA and lipid nanoparticles (LNP) is expected to expand the platform's applicability not only to infectious diseases but also to various types of cancer. It is encouraging that the South Korean government has allocated 40.5 billion won for mRNA-related budgets. This indicates that national-level investments to proactively respond to future infectious diseases will become more active." 2026-09-09 18:32:00
  • Marine Corps Commemorates Victory Events Connecting Jeju, Incheon, and Seoul
    Marine Corps Commemorates Victory Events Connecting Jeju, Incheon, and Seoul The Marine Corps is holding a series of victory commemorative events from August 29 to September 19 in Jeju, Incheon, and Seoul under the theme "Great Victory! Together with the People." The events aim to honor the sacrifices and dedication of veterans, retracing the journey from the deployment of Marine Corps troops in Jeju during the Korean War to the Incheon Landing Operation and the recapture of Seoul.The events began with the "26th Jeju Marine Corps Day" on August 29-30. On September 5, a memorial ceremony commemorating the victory at the Battle of Yeonhui was held at Hongjecheon Waterfall Park in Seodaemun-gu, Seoul, in collaboration with the Marine Corps Veterans Association.Additionally, the Marine Corps, in partnership with the city of Incheon, will host a week of events from September 10 to 15 to mark the 76th anniversary of the Incheon Landing Operation. A military band concert will take place at the Incheon Cultural Arts Center on September 11 at 7 p.m., followed by a victory commemorative event at the Incheon Sang Sang Platform on September 15 at 10:30 a.m. This will be the first time since 2010 that the Marine Corps has hosted the Incheon Landing Operation victory event.On the same day at 2:30 p.m., a memorial ceremony for the victory at the Bupyeong Battle will be held at the Bupyeong Art Center to honor the achievements of veterans and commemorate the fallen heroes.On September 19, members of the Marine Corps Veterans Association and U.S. Marine Corps personnel will conduct a relay carrying the national flag from Incheon’s Wolmido to Seoul City Hall. The flag will be presented at the 76th anniversary commemorative event for the recapture of Seoul, which will take place at 10:30 a.m. in front of Seoul City Hall.Moon Won-wook, head of the Personnel and Administration Office of the Marine Corps, stated, "We are preparing the events to remember the great victories achieved by our senior Marines together with the people and to retrace the footsteps of victory."* This article has been translated by AI. 2026-09-09 18:24:00
  • Financial Services Commission Imposes $9.5 Million Fine on Dexter Studios for Accounting Violations
    Financial Services Commission Imposes $9.5 Million Fine on Dexter Studios for Accounting Violations The Financial Services Commission has imposed a fine of 9.5 billion won (approximately $9.5 million) on Dexter Studios for violating accounting standards in its financial statements.The commission announced the decision during its regular meeting on September 9.Two former CEOs of the company were fined 72.7 million won and 94.6 million won, respectively.Investigations revealed that Dexter Studios, a content planning and production company, inflated its revenue by manipulating the progress of projects that were either canceled or had their contract amounts falsely increased between 2016 and 2019.* This article has been translated by AI. 2026-09-09 18:24:00
  • KDRT First Team to Return Home on September 11, Second Team Being Prepared
    KDRT First Team to Return Home on September 11, Second Team Being Prepared The Korea Disaster Relief Team (KDRT), dispatched to assist in the aftermath of severe flooding in Nepal, is scheduled to return home on September 11. Preparations are underway for a second deployment to Nepal.On September 9, the Ministry of Foreign Affairs announced, "The first KDRT team is set to return to South Korea on September 11 via a military transport aircraft (KC-330)." The ministry added, "The KDRT was dispatched on September 2, following a decision by the joint public-private emergency relief council on September 1, with an initial deployment period of 10 days."It was emphasized that relief supplies, including blankets, winter clothing, and tents donated by NGOs, will be delivered to Nepal via the military transport aircraft returning with the KDRT.The ministry also stated, "We are pushing for a second KDRT deployment to continue search operations," noting that specific details will be announced after confirmation through the emergency relief council in accordance with relevant laws.Furthermore, the ministry indicated that the government’s rapid response team and the South Korean embassy in Nepal will continue to work closely with local authorities to support the families of South Koreans who are missing.Meanwhile, on the morning of September 9, the KDRT did not conduct search operations, considering the transition to the conclusion of search and rescue efforts by Nepalese authorities. The KDRT has previously conducted foot searches near Ramche, drone searches around the powerhouse, and drone searches near the Weir Dam. Following discussions with Nepalese authorities, the KDRT was able to conduct foot searches in areas of interest the previous day, despite initial concerns from the Nepalese military regarding the terrain.Notably, the KDRT achieved a significant milestone by rescuing eight individuals during the 2023 Turkey earthquake, marking its first successful rescue operation in three years. Ten days after the flooding, they located and rescued one Chinese survivor.However, the whereabouts of nine missing South Koreans remain unknown. In response, families of the missing held a press conference in Nepal on the same day, expressing strong criticism of the KDRT. 2026-09-09 18:16:10
  • IBK Bank Fails to Detect 18.2 Billion Won Loan Fraud Despite Warrant
    IBK Bank Fails to Detect 18.2 Billion Won Loan Fraud Despite Warrant IBK Bank has come under scrutiny for failing to recognize a significant real estate loan fraud involving 18.2 billion won, despite receiving a police search warrant detailing the fraudulent methods and loan amounts. After reporting the incident to the Financial Supervisory Service (FSS), the bank approved an additional 1.9 billion won in related loans and concluded two internal checks with no irregularities found.On September 9, Shin Dong-wook, a member of the National Assembly's Political Affairs Committee, revealed information obtained from the FSS and IBK Bank. The Incheon Police Agency sent a request for cooperation and a search warrant to IBK Bank on September 24 of last year.The warrant included specific allegations of fraud, stating that developers and brokers had used nominal buyers to secure a loan of 965 million won through false contracts and payment documents.IBK Bank received the warrant the following day but did not recognize it as a fraud case. It was not until a week later, on October 2, when the FSS requested confirmation regarding the search warrant that the bank acknowledged the incident. On October 10, the bank reported the fraud to the FSS, attributing it to external parties.Subsequent internal checks failed to identify any warning signs. The bank's inspection department reviewed 16.489 billion won in related loans, examining credit assessments, collateral evaluations, documentation, and cash flows.The review included loans secured by multiple units in the same building, third-party fund inflows, and connections between borrowers and related companies, yet both inspections concluded with no irregularities.Moreover, after reporting the incident to authorities, the bank continued to approve related loans. On October 24, IBK Bank lent 1.9 billion won for facility funds secured by commercial real estate in Namyangju, Gyeonggi Province. This loan went through the headquarters approval process but later became part of the police investigation, resulting in it being classified as related to the fraud due to subsequent delinquencies.The scale of the fraud has expanded as investigations progressed. Initially involving one borrower and one case amounting to 965 million won, the total has now risen to 12 borrowers and 14 cases totaling 18.221 billion won. The total amount of loans executed is 24.46 billion won, with 6.239 billion won recovered through external sales. The provision for bad debts stands at 1.098 billion won, and the final estimated loss has yet to be determined.This incident is part of a broader scheme where developers and brokers allegedly used nominal buyers to obtain loans through false contracts and payment documents for commercial real estate in the metropolitan area, known as 'work loans.'Similar financial incidents have occurred across banks and mutual finance sectors, totaling 136 cases and 1.091 trillion won. Among banks, IBK Bank reported the highest amount at 18.221 billion won, followed by Shinhan Bank at 17.34 billion won, Woori Bank at 9.87 billion won, and KB Kookmin Bank at 3.58 billion won.* This article has been translated by AI. 2026-09-09 18:16:00
  • Team Korea Prepares for 2026 Aichi-Nagoya Asian Games: A Look Back at 18 Attempts
    Team Korea Prepares for 2026 Aichi-Nagoya Asian Games: A Look Back at 18 Attempts The 2026 Aichi-Nagoya Asian Games, the first summer edition held in Japan in 32 years, is set to begin in 10 days. South Korea, which narrowly missed out on second place by just one gold medal at the 1994 Hiroshima Games, is aiming for 40 to 45 gold medals and to maintain its goal of finishing third overall at this year's event.Since its debut at the 1954 Manila Games, South Korea has participated in 18 Asian Games. While it has never finished first overall, it has placed in the top three in 16 of those events, achieving second place nine times and third place seven times.The first second-place finish came at the 1966 Bangkok Games, where South Korea secured 12 gold medals. It repeated this feat four years later in the same city, finishing with 18 golds. This trend continued with additional second-place finishes in 1986 Seoul, 1990 Beijing, 1998 Bangkok, 2002 Busan, 2006 Doha, 2010 Guangzhou, and 2014 Incheon, totaling nine second-place finishes.Third-place finishes occurred in the inaugural 1954 Manila Games, 1958 Tokyo, 1978 Bangkok, 1982 New Delhi, and 1994 Hiroshima, as well as in the 2018 Jakarta-Palembang Games and the 2023 Hangzhou Games.South Korea has only finished outside the top three twice: in 1974 Tehran, where it placed fourth with 16 golds, and in 1962 Jakarta, where it recorded its lowest performance with just four golds.The closest South Korea has come to finishing first overall was at the 1986 Seoul Games, where it won 93 golds, just one behind China, which secured 94. South Korea did, however, lead in total medals with 224, compared to China's 222.◆ Five Consecutive Second-Place FinishesThe 1986 Seoul Games were notable for South Korea's achievements across various sports. The boxing team swept all 12 weight classes, and Im Chun-ae won gold in the 800m, 1500m, and 3000m, becoming a three-time champion. However, this success did not carry over to the 1994 Hiroshima Games, where South Korea won 63 golds but fell to third place, just one gold behind Japan.In the 1998 Bangkok Games, South Korea reclaimed second place with 65 golds, surpassing Japan's 52. Following the 1997 financial crisis, which led to the dissolution of several professional teams, South Korea achieved a historic milestone at the 2002 Busan Games, winning a total of 260 medals (96 gold, 80 silver, 84 bronze), the highest in history, a record that still stands. At that time, South Korea had a 52-gold lead over Japan, which won 44 golds.In the 2006 Doha Games, South Korea maintained second place with 58 golds (192 total medals). Park Tae-hwan, then a high school student, dominated the freestyle events, winning gold in the 200m, 400m, and 1500m, and was named the tournament's Most Valuable Player (MVP). Since the MVP award was established in 1998, Park is the only South Korean athlete to have received it.At the 2010 Guangzhou Games, South Korea set a new record for the most gold medals won at an away event, with 76 golds out of a total of 232 medals. Park Tae-hwan again made history by winning three golds in the 100m, 200m, and 400m freestyle, becoming the first male athlete to achieve back-to-back three-gold performances in Asian Games swimming.In the 2014 Incheon Games, South Korea finished second for the fifth consecutive time, winning 79 golds, 71 silvers, and 84 bronzes for a total of 234 medals, outpacing Japan by 32 golds. Team sports saw significant success, with the men's soccer team winning gold for the first time in 28 years since the 1986 Seoul Games, and both men's and women's basketball teams claiming gold, a first and only occurrence for South Korean basketball in Asian Games history.◆ Losing Second Place to Japan: Two Consecutive Third-Place Finishes 2026-09-09 18:16:00