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  • Smilegate divorce sets Korean tycoon record as SK chief partly yields
    Smilegate divorce sets Korean tycoon record as SK chief partly yields SEOUL, September 09 (AJP) – South Korea saw its two biggest tycoon divorce battles move in opposite directions Wednesday, as Smilegate founder Kwon Hyuk-bin was hit with a record 2.55 trillion won ($1.8 billion) property-division ruling while SK Group Chairman Chey Tae-won moved to end most of his own dispute. The Seoul Family Court ordered Kwon to transfer about 2.55 trillion won in assets to his estranged wife, including a 35 percent stake in the privately held gaming company, setting a new record for a court-ordered divorce property division in South Korea. Hours later, Chey said he would no longer contest 700 billion won of the 944 billion won he was ordered to pay his former wife, Roh Soh-yeong, leaving only 244 billion won at issue before the Supreme Court. For a few months, Chey's case had defined the upper limit of how costly a South Korean divorce could become. Kwon's ruling has now pushed that figure well past 2 trillion won, just as Chey is seeking to draw most of his years-long legal battle to a close. The contrast extends beyond the size of the awards. Chey's obligation was structured as a cash payment, allowing him to retain the SK Inc. shares through which he exercises influence over the conglomerate. Kwon, by contrast, was ordered to hand over Smilegate shares themselves, potentially turning a marital property dispute into a direct question of corporate ownership. "The marriage has broken down to a point beyond repair," the Seoul Family Court said in granting the divorce. The court valued Kwon's Smilegate shares at about 7.1 trillion won and ordered him to transfer 35 percent of them to his wife, surnamed Lee. The shares are worth about 2.49 trillion won, while Kwon was also ordered to pay another 65 billion won in cash. The total property division amounts to roughly 2.55 trillion won. The award is more than two and a half times the 944 billion won ordered in July in the divorce of Chey and Roh, which had been South Korea's largest publicly known divorce property award. Unlike Chey, who was allowed to keep his SK Inc. shares and compensate Roh in cash, Kwon was ordered to divide the shares directly. The court said requiring the full amount in cash would be difficult because most of Kwon's wealth is tied up in company shares. If the ruling stands, Lee would become a direct shareholder in Smilegate. The court granted Lee's divorce petition but dismissed her claim for consolation money, finding that both spouses shared responsibility for the breakdown of the marriage. Lee filed for divorce in November 2022, about two years after the couple began living apart. She had sought half of Kwon's holdings, arguing that she held a 30 percent stake in Smilegate during its early years and served as a representative director and board member. She also said she contributed to the family's wealth through household duties and child care over more than two decades. Kwon argued that Lee had neither invested in nor worked for the company and therefore should not be considered a co-founder. The court nevertheless found the Smilegate shares subject to division, taking into account Lee's early involvement in the company as well as her contribution to the household and raising their children. The ruling is a first-instance judgment and can still be appealed. Chey scales back Supreme Court fight As Kwon's case set a new record, Chey moved in the opposite direction by sharply narrowing what had previously been South Korea's biggest divorce fight. Chey's lawyers filed a request with the court on Aug. 31 reducing the scope of his Supreme Court appeal, according to legal sources. Of the 944 billion won he was ordered to pay Roh in cash, Chey will no longer contest 700 billion won and will challenge only the remaining 244 billion won. Chey's side said the move was intended to narrow the years-long dispute and bring it to a quicker end while continuing to challenge any amount above 700 billion won. The decision sharply reduces the stakes in a legal battle dating back to 2017. Chey and Roh married at the presidential Blue House in 1988, during the presidency of Roh's father, former President Roh Tae-woo. Their marriage publicly unraveled in 2015, when Chey disclosed that he had fathered a daughter with another woman. He sought divorce mediation in 2017, and Roh later filed a countersuit seeking damages and a share of his corporate wealth. The Seoul Family Court initially ordered Chey in 2022 to pay 66.5 billion won in property division, finding his SK shares were largely separate property. The Seoul High Court later raised the award to about 1.38 trillion won. The Supreme Court subsequently overturned the property-division portion of the ruling over its treatment of 30 billion won linked to former President Roh. On remand in July, the Seoul High Court excluded the disputed 30 billion won but still found that Roh had contributed to building and maintaining the couple's marital assets. It awarded Roh one-third of the couple's property, resulting in the 944 billion won cash payment. Chey appealed again last month. The Supreme Court fight will now center on the remaining 244 billion won. Among the outstanding questions is whether Roh's contribution should have been set at 33.3 percent even after the disputed 30 billion won was removed from consideration. The previous appellate court had assessed her contribution at 35 percent. Chey is also challenging the court's use of SK Inc.'s rising share price in calculating the divisible assets and argues that his stake in SK Siltron should not be included. The latter stake was acquired in 2017, after the marriage had effectively broken down, raising the question of whether it should be treated as property accumulated through the couple's joint contribution. The distinction underscores how differently the two divorce rulings reach into the corporate fortunes involved. Chey's 944 billion won obligation leaves his core SK ownership intact. Kwon's ruling, if upheld, would require him to surrender part of the company itself. On the same day that South Korea's costliest divorce became substantially more expensive, the man who previously held that distinction moved closer to bowing out of his own battle. AJP Takeaways - On September 9, 2026, the Seoul Family Court ordered Smilegate founder Kwon Hyuk-bin to transfer about 2.55 trillion won ($1.8 billion) in assets to his wife, including a 35 percent stake in Smilegate. - The Kwon Hyuk-bin ruling surpassed the 944 billion won property division ordered in the divorce of SK Group Chairman Chey Tae-won and Roh Soh-yeong, making it South Korea's largest publicly known divorce property award. - Kwon Hyuk-bin was ordered to transfer company shares directly, while Chey Tae-won's 944 billion won obligation is structured as a cash payment that allows him to retain his SK Inc. shares. - Chey Tae-won has accepted 700 billion won of the 944 billion won he was ordered to pay Roh Soh-yeong and will contest only the remaining 244 billion won before the Supreme Court. 2026-09-09 18:07:24
  • Japan Emerges as a Key Hub for Semiconductor Production and R&D
    Japan Emerges as a Key Hub for Semiconductor Production and R&D Japan is re-emerging as a global hub for semiconductor production and research and development (R&D). Analysts suggest that the ecosystem of materials, components, and equipment is a strong enough incentive to overlook the risks posed by earthquakes.According to industry sources, Samsung Electronics has opened a next-generation semiconductor packaging R&D center in Minato Mirai, Yokohama. The company plans to invest 40 billion yen (approximately $329 million) by 2028, with half of that amount supported by the Japanese government. A total of 95 researchers from South Korea and Japan will work at the facility, which aims to expand joint development with local materials and equipment companies and research institutions.SK Hynix is also considering establishing a factory in Japan. Local media have reported on the potential for a memory production base in Japan, following discussions in February and again last month. While SK Hynix denied the rumors in February, it acknowledged last month that it is exploring various options, including securing additional production bases, although no decisions have been finalized. Chey Tae-won, chairman of SK Group, has indicated that he is reviewing multiple candidate sites in Japan, suggesting that the investment discussions are serious.Some argue that Japan's frequent earthquake risks make it an unsuitable location for semiconductor factories. A 7.1 magnitude earthquake struck Kumamoto on July 28, causing TSMC's subsidiary JASM and production facilities of Sony and Renesas to halt or reduce operations.However, many view the earthquake risk as manageable. TSMC's Kumamoto plant resumed normal production on August 3 after equipment inspections. Sony significantly shortened its recovery time from the 2016 earthquake, which had taken over three months, thanks to improved seismic reinforcement and repeated training based on past disaster experiences.Japan's competitive edge in semiconductor materials, components, and equipment is a significant advantage. According to data from Japan's Ministry of Economy, Trade and Industry, Japanese companies hold 31% of the global semiconductor manufacturing equipment market and 48% of the major materials market. Shin-Etsu Chemical and SUMCO are among the top two global suppliers of silicon wafers, while Tokyo Ohka Kogyo is a leader in photoresists. Ajinomoto's subsidiary supplies about 95% of the global market for advanced packaging substrate insulation materials.In the era of AI semiconductors, the importance of proximity in collaboration has increased. As it becomes more challenging to enhance performance solely through advanced processes, the utility of high-bandwidth memory (HBM) and advanced packaging that combines multiple chips has grown. The need for chip manufacturers and materials and equipment companies to align material properties and processes from the early stages of development has heightened the value of research hubs close to suppliers. This industrial shift is cited as a reason for Samsung's decision to expand its packaging R&D base in Japan before establishing production lines.The Japanese government's support is also a crucial factor. The Yokohama research center's investment is half funded by the government. Japan has allocated up to 732 billion yen in support for TSMC's second Kumamoto plant and plans to invest over 10 trillion yen in public support for the AI semiconductor sector by 2030. This strategy aims to attract foreign companies, connect them with domestic suppliers, and stimulate further related investments.The supply chain conflict between South Korea and Japan, which arose from Japan's export restrictions on semiconductor materials in 2019, has also shifted. The two countries normalized related regulations in 2023. While the risk of concentrating supply chains in one country remains, industry experts emphasize that as AI competition accelerates, the speed of joint development with necessary materials and equipment companies has become increasingly important.Kim Yang-pyung, a senior researcher at the Korea Institute for Industrial Economics and Trade, stated, "The semiconductor industry has limitations in processing all operations within a single country, unlike in the past. We must explore growth strategies through collaboration with Japan."* This article has been translated by AI. 2026-09-09 18:04:10
  • Semiconductor Industry Faces Challenges Amid Global Competition
    Semiconductor Industry Faces Challenges Amid Global Competition There is a growing call for South Korean semiconductor companies to strengthen their position within the global ecosystem to maintain their competitive edge. Concerns have been raised about potential technology leaks and domestic job losses as Samsung Electronics and SK Hynix expand overseas, but experts emphasize that strategic territorial expansion is urgent.According to industry sources, TSMC announced in January plans to increase its overseas production base from 15% in 2030 to 20% by 2036. Micron has also diversified its key production lines beyond the U.S. to locations in Taiwan, Singapore, and Hiroshima, Japan.In contrast, most of South Korean companies' core memory production lines remain concentrated domestically. While Samsung's advanced foundry in Taylor, Texas, and SK Hynix's packaging facility in Indiana are underway, overseas memory production sites are limited to general products and backend processes in Xi'an and Wuxi, China. The critical front-end production for next-generation advanced memory processes is still entirely handled by domestic campuses in Pyeongtaek, Icheon, and Yongin.Plans for overseas expansion by these companies are also hindered by concerns from the government and political circles. In June, then-Prime Minister Kim Min-seok stated, "The priority should be finding ways to make it work in Korea, rather than saying 'if it doesn't work in Korea.'" He criticized SK Group Chairman Chey Tae-won’s comments about considering overseas investments due to challenges like power and water shortages in Korea.However, experts warn that an approach characterized by 'semiconductor isolationism,' which insists on domestic production citing potential technology leaks, could weaken competitiveness. They argue that such a stance may lead to isolation during the global supply chain restructuring.According to the Korea International Trade Association and the Bank of Korea, the domestic localization rate of semiconductor equipment is only about 20%, with reliance on imports from the U.S., Japan, and the Netherlands exceeding 70% for key equipment. In a situation where it is difficult to independently establish the entire process of materials, equipment, and packaging, simply increasing domestic fabs without collaboration with global hubs has clear limitations.Yoon Jeong-hyun, a senior researcher at the Institute for National Security Strategy (INSS), explained, "If the state and companies become overly nationalistic about technology, they will prioritize strengthening domestic capabilities over cooperation, which risks leading to exclusive protectionism."This is also a timely opportunity for South Korean semiconductor companies to boldly expand their overseas territories. As of the first half of this year, the combined cash and cash-equivalent assets of Samsung Electronics and SK Hynix approached 278 trillion won, marking the highest level of financial resources available. Unlike in the past, when financial difficulties hindered overseas investments, they now have the capacity to secure global hubs.Major countries are also extending significant incentives. The U.S. is actively attracting advanced fabs with high tariffs and subsidies, while Japan is offering cash support covering up to 50% of factory construction costs to draw global semiconductor companies.Ahn Gi-hyun, executive director of the Korea Semiconductor Industry Association, stated, "Expanding territories by leveraging overseas subsidies and favorable location conditions is a strategy to enhance global market dominance, not a risk of technology leakage. It is time to make policy decisions to break free from the frame of protectionism and strengthen ties with the global ecosystem."* This article has been translated by AI. 2026-09-09 18:04:10
  • Semiconductor Giants Compete for Ground in Japan
    Semiconductor Giants Compete for Ground in Japan Global semiconductor companies are intensifying their competition for footholds in Japan, highlighted by Samsung Electronics' recent establishment of an advanced packaging research and development (R&D) center in Yokohama. Following the setup of production bases by Taiwan's TSMC in Kumamoto and the U.S.'s Micron in Hiroshima, Samsung is focusing on the Kanto region while SK Hynix is eyeing the Tohoku area for strategic locations.According to industry sources, Samsung opened its 'Advanced Package Lab (APL)' in Yokohama, Kanagawa Prefecture, adjacent to Tokyo. The area is home to universities, research institutions, and advanced packaging material and equipment companies like Resona and Disco. Samsung plans to collaborate with over 50 local companies to expedite the development of next-generation packaging technologies through material evaluation and prototype production.Similarly, Miyagi Prefecture is being considered as a production base for SK Hynix. The region hosts suppliers like Tokyo Electron and has a strong academic-industrial foundation with Tohoku University. Additionally, the vicinity of Sendai offers large industrial sites along with water and power infrastructure.Notably, just north of Miyagi in Iwate Prefecture is Kioxia's Kitakami NAND factory, which SK Hynix has mentioned as a potential collaboration point. Kioxia operates this facility along with two others in Mie Prefecture and has recently announced an investment of over 1 trillion yen (approximately $8.7 billion) to build a new semiconductor plant at the Kitakami site.SK Hynix is the largest single shareholder of Kioxia, holding 14.17% of voting rights through a special purpose company (SPC). Chey Tae-won, chairman of SK Group, has recently suggested exploring options for joint production, R&D, and supply chain sharing with Kioxia. Choosing Miyagi could allow SK Hynix to connect with the local supply chain ecosystem while avoiding overlap with existing production facilities.Previously, TSMC established a foundry production base in Kumamoto, while Micron set up a DRAM production and R&D center in Hiroshima. The Japanese government has committed up to 1.208 trillion yen (approximately $10.3 billion) in support for TSMC's factory and up to 536 billion yen (approximately $5.7 billion) for Micron's facility. As latecomers, Samsung and SK Hynix aim to find regions that meet their specific needs for workforce, supply chain, water and power resources, and research institutions, rather than joining existing large production bases.Lee Jong-hwan, a professor at Sangmyung University’s Department of System Semiconductor Engineering, stated, "SK Hynix appears to be pursuing a strategy to enhance its NAND competitiveness and production volume through collaboration with Kioxia, solidifying its position as the top memory producer. Meanwhile, Samsung may find it more advantageous to strengthen R&D partnerships with local suppliers that have superior technology rather than establishing production lines in Japan."* This article has been translated by AI. 2026-09-09 18:04:10
  • Hyundai Group Unions to Strengthen Joint Actions on Bonuses, AI, and Retirement Age
    Hyundai Group Unions to Strengthen Joint Actions on Bonuses, AI, and Retirement Age Hyundai Motor Group's major affiliate unions are set to meet again after nearly four months. They are expected to discuss various labor issues, including retirement age extensions. This meeting marks a significant opportunity for enhanced joint responses, as there has not been a regular meeting among the affiliate unions previously. According to industry sources on September 9, the Kia Motors union is pushing for a gathering of union representatives from major affiliates, including Hyundai Motor, Hyundai Steel, Hyundai Rotem, and Hyundai Wia, after the Chuseok holiday. While the final list of attendees has not been confirmed, it is anticipated that most affiliates will participate. This will be the first time since June that the group of affiliate unions has convened. At that time, the Kia Motors union sent a notice to 38 union branches and chapters regarding the '2026 Struggle Victory and Discussion on 100,000 Union Workers' initiative, which included not only affiliates but also parts suppliers, leading to actual meetings. During the upcoming meeting, the unions plan to evaluate the overall process of joint responses regarding this year's wage and collective bargaining negotiations, as well as discuss future labor issues comprehensively. Key agenda items include job security related to the introduction of artificial intelligence (AI) and robots, extending the retirement age to 65, and increasing performance bonuses. A representative from one of the affiliate unions stated, "There was a suggestion to meet and discuss directly among the major affiliate unions. It seems we will gather key representatives after Chuseok." Industry observers suggest that this meeting could strengthen the alliance among unions within Hyundai Motor Group, potentially raising the level of joint responses. In June, the primary and subcontractor unions began to unite, but some affiliates entered individual negotiations, preventing large-scale joint actions. In this year's negotiations, some of the union's initial demands were either omitted or scaled back. For instance, the demand for a performance bonus equivalent to 30% of last year's net profit was ultimately agreed upon at 400% and 12.7 million won. The extension of the retirement age was also confirmed to be contingent on legal amendments, rendering it effectively uncertain. This underscores the need for stronger joint responses among the affiliates. Currently, the Hyundai and Kia unions are conducting internal evaluations regarding the final agenda for this year's negotiations, with results expected soon. A union representative commented on the possibility of regularizing this meeting format, saying, "We need to meet and discuss first. There has not been a regular meeting among the group affiliates yet." This situation is likely to impact Hyundai Motor Group's rapidly advancing robotics business. The group plans to deploy the humanoid robot 'Atlas' at its factory in Georgia, USA, starting in 2028. In June, it also opened the 'Robot Metaplant Application Center (RMAC)' for robot training. Consequently, the Hyundai union has strongly opposed any robot deployment in production sites without labor-management agreements, stating, "Not a single robot can enter the production site without an agreement between labor and management."* This article has been translated by AI. 2026-09-09 18:04:00
  • South Korea Revamps Life-Sustaining Treatment Decision System
    South Korea Revamps Life-Sustaining Treatment Decision System The South Korean government is set to overhaul its life-sustaining treatment decision system, which has been in place since 2018, to allow patients to end meaningless medical interventions and die with dignity. This initiative aims to address practical challenges faced in medical settings and to better ensure patients' rights to make their own decisions. The government plans to launch an expert committee and gather public input to produce recommendations for system improvements by the end of the year.On September 9, the Ministry of Health and Welfare held the first meeting of the 'Special Expert Committee for Improving the Life-Sustaining Treatment Decision System' at Space Share in Seoul, marking the start of formal discussions. The committee, composed of 14 experts from the medical, ethical, patient advocacy, and legal fields, will address key issues such as the timing of treatment suspension and the decision-making process for unaccompanied patients, aiming to develop comprehensive recommendations by year-end.The life-sustaining treatment decision system allows terminally ill patients to voluntarily discontinue medical procedures that only prolong life without providing therapeutic benefits, such as CPR, dialysis, and chemotherapy. While the system was introduced to respect patients' autonomy and facilitate dignified deaths, discrepancies between legal procedures and actual medical practices have created significant challenges for patients, families, and healthcare providers.A major point of contention is determining the precise timing for treatment suspension. The current system requires medical professionals to assess whether a patient is in a 'terminal' or 'end-of-life' state, but this distinction can often be unclear, leading to confusion in practice. Additionally, there is an urgent need to clarify legal provisions regarding who can make life-sustaining treatment decisions for unaccompanied patients, who lack family members to consult.The newly established expert committee will examine these issues from a multidisciplinary perspective and seek solutions. The committee plans to hold regular meetings and expert presentations to deeply discuss the main issues and establish fundamental principles for system improvement.Moreover, the government intends to go beyond expert discussions by directly incorporating public feedback. In the second half of the year, the Medical Innovation Committee, under the Prime Minister's office, will include the life-sustaining treatment decision system as a topic for citizen panel discussions to gather public opinions.The committee aims to comprehensively reflect the results of this public discourse in its expert discussions, ultimately presenting recommendations for legal and institutional improvements based on social consensus by the end of the year.Kim Jang-han, chair of the Special Expert Committee, stated, "We will closely examine the difficulties that have arisen during the implementation of the system and ensure that we listen to a wide range of opinions from citizens, as well as experts. Our goal is to develop a life-sustaining treatment decision system that all citizens can trust, based on social consensus."* This article has been translated by AI. 2026-09-09 18:00:10
  • Army Appoints 239 Reserve Sergeants to Enhance Mobilization Resources
    Army Appoints 239 Reserve Sergeants to Enhance Mobilization Resources The Army held a ceremony on September 9 at the Army Infantry School in Jangseong, South Jeolla Province, where Chief of Staff Gen. Kim Gyu-ha presided over the appointment of 239 reserve sergeants. Approximately 400 attendees, including the newly appointed reserve sergeants and their families, as well as military officials, were present at the event.The appointment system for reserve sergeants was introduced to ensure a stable supply of mobilization resources needed during wartime and to establish a reserve force centered on non-commissioned officers. This initiative was supported by amendments to relevant laws in 2023, with the first appointment of 143 individuals occurring last year. Candidates are selected from among reserve corporals based on their conduct and potential during their active service.Among those appointed this time are Jang Neung-in, a part-time professor at Ulsan University who has been active as a support reserve after completing his mandatory service, Park Chan-woo, who graduated from law school and is preparing for the bar exam, and Yoo Chung-seong, who is currently serving as a standing reserve in the 60th Division's artillery brigade.Gen. Kim emphasized the importance of the newly appointed reserve non-commissioned officers in enhancing the Army's reserve capabilities, urging them to fulfill their assigned duties with pride and responsibility.The Army plans to continuously secure and develop excellent reserve officer resources to prepare for changes in the security environment.* This article has been translated by AI. 2026-09-09 18:00:00
  • Lee Jae-yong Purchases 7.18 Million Shares of Samsung Electronics from Mother Hong Ra-hee for 1.9 Trillion Won
    Lee Jae-yong Purchases 7.18 Million Shares of Samsung Electronics from Mother Hong Ra-hee for 1.9 Trillion Won Lee Jae-yong, the chairman of Samsung Electronics, has purchased 7.18 million shares of the company from his mother, Hong Ra-hee, the honorary director of the Leeum Museum, for approximately 1.9 trillion won. This transaction is believed to be aimed at repaying loans incurred during the inheritance tax payment process following the death of the late Lee Kun-hee, former chairman of Samsung.On September 9, Samsung Electronics announced that a transaction had taken place between major shareholders, with Hong Ra-hee selling 7.18 million shares to Lee Jae-yong. The deal is valued at around 1.9 trillion won, representing about 0.11% of the total issued shares of Samsung Electronics.The transaction was conducted as a private deal between Hong and Lee. A Samsung Electronics representative stated, "As this is a transaction between major shareholders, we do not have an official position to disclose on behalf of the company."Industry analysts believe that Hong Ra-hee sold part of her shares to repay the loans incurred during the inheritance tax payment process. The Samsung family has been making installment payments on the inheritance tax related to the shares and real estate inherited after the late chairman's passing.By selling the shares directly to Lee Jae-yong instead of on the open market, it is interpreted as an effort to minimize the impact on the market. A large volume of shares worth over 1 trillion won could potentially exert pressure on Samsung Electronics' stock price if released all at once.As a result of this transaction, Lee Jae-yong's ownership stake in Samsung Electronics will see a slight increase. However, since the shares involved represent only 0.11% of the total issued shares, the impact on the governance structure of the Samsung Group is expected to be limited.* This article has been translated by AI. 2026-09-09 18:00:00
  • Seoul weighs coalition role in Hormuz amid U.S. pressure, Iran warnings
    Seoul weighs coalition role in Hormuz amid U.S. pressure, Iran warnings SEOUL, September 09 (AJP) - South Korea is keeping its options open on a possible military contribution to the Strait of Hormuz, but President Lee Jae Myung's talks in Paris risk sending the impression to Washington that Seoul is placing greater weight on a French-British multinational mission. The framework could offer Seoul a middle ground between mounting U.S. pressure for support and Iran's warnings against military involvement. “The broad direction for international cooperation has been set, but details are still under review and nothing has been decided,” a presidential official said Tuesday following Lee's summit with French President Emmanuel Macron in Paris. The official stressed that the discussion should not be interpreted as a decision to send South Korean forces to the region. Lee, however, made clear that Seoul sees stability in the strategic waterway as an important national interest. “South Korea and France will continue close cooperation to restore freedom of navigation in the Strait of Hormuz and stabilize global supply chains,” Lee said after the summit. The presidential office said Lee approached the talks on the principle that South Korea's contribution should be determined based on national interests and public consensus. Macron raised the prospect of cooperation under a broader international framework. “The multinational mission is peaceful,” Macron said, adding that France and South Korea could cooperate once the necessary agreements are in place. France and Britain have been leading efforts to establish an independent, defensive multinational mission aimed at restoring safe navigation through Hormuz. South Korea has already backed that framework politically. It endorsed an April leaders' statement establishing the initiative and was among the countries supporting a subsequent multinational mission statement in May. Neither commitment, however, amounted to a decision to deploy South Korean forces or military assets. France has maintained a cautious line since the early months of the Iran war, supporting diplomatic efforts to end the conflict while keeping the proposed Hormuz mission separate from direct U.S. military operations against Tehran. Such stance has at times put Paris and London at odds with Washington, with Trump publicly criticizing NATO allies including France and Britain for failing to provide greater support for the U.S. war effort against Iran. Macron and British Prime Minister Keir Starmer in April co-hosted a Paris conference bringing together around 50 non-belligerent countries and backing a strictly defensive multinational mission once security conditions allowed. The proposed force was designed to protect commercial vessels, restore confidence among shipowners and insurers and conduct mine-clearing operations rather than take part in combat against Iran. Macron reiterated that approach at the G7 summit in June, describing the French-British initiative as “multinational, independent and defensive” and saying around 20 countries had expressed a firm commitment to contribute. France has said the mission could protect merchant shipping and support mine-clearing once conditions in the strait permit. The government recently sent a Defense Ministry fact-finding team to the United Arab Emirates to assess conditions in and around the strait, but the presidential office said the move was only “part of the review process” and did not presuppose a deployment. Asked whether the issue could be discussed at a National Security Council standing committee meeting on Sept. 17, the official said it was difficult to discuss a schedule because “nothing has been decided.” Seoul's caution comes as pressure intensifies from both Washington and Tehran. A White House official said Sunday that the United States was “still waiting” for South Korea to commit resources to the region, after U.S. President Donald Trump repeatedly singled out Seoul over its reluctance to support U.S. efforts surrounding Hormuz. Trump has pressed countries heavily dependent on Middle Eastern energy, including South Korea and Japan, to contribute to securing the waterway since the war with Iran began on Feb. 28. Iran, meanwhile, has warned Seoul against military involvement. “Military presence or participation in operations in the Persian Gulf and Strait of Hormuz would inevitably be seen as directly supporting the aggressor,” Iranian Foreign Ministry spokesperson Esmail Baghaei said, warning of “serious consequences.” Iran’s judiciary chief Gholam-Hossein Mohseni-Ejei abruptly canceled a planned visit to Seoul next week, as South Korea weighs a possible Hormuz deployment. The reason was not officially disclosed. “We told them that the matter is under review and nothing has been decided,” the presidential official said. The competing pressure leaves the Lee administration with a difficult calculation: how far to support its U.S. ally and help secure a waterway vital to South Korea's energy supplies without becoming directly entangled in the Iran war. Defense experts say months of caution may have brought Seoul to the point where a limited contribution deserves serious consideration. “We have reached a point where it is time to consider a deployment,” Choi Ki-il, a professor of military studies at Sangji University and head of the Korea Defense Industry Research Institute, told AJP. Choi said any mission should focus on protecting South Korean vessels and crews and supporting freedom of navigation rather than taking part in direct combat against Iran. “Even if we deploy, our role should be limited to protecting our own ships,” Choi said. Possible assets reported in recent days have included P-8A Poseidon maritime patrol aircraft, the Navy's 11,000-ton ROKS Soyang fast combat support ship and mine-clearing capabilities. The government has stressed that none has been selected. One potential middle ground would be participation in the French-British multinational mission rather than an independent South Korean operation. “If South Korea participates, it should not do so independently, but as part of a coalition force,” Kim Hong-yoo, a professor at Kyung Hee University and a policy committee member of the Korea Defense Industry Association, told AJP. Kim said such a framework could allow Seoul to take on logistics or other support functions rather than lead a separate Korean operation. He also argued that Washington's requests are difficult for Seoul to ignore because the United States, South Korea's treaty ally, is directly involved in the conflict. “For the government, this is a very difficult decision,” Kim said. Kim said an NSC discussion would become more relevant if the government decides to deploy forces, as Seoul would then have to determine which military assets could be spared without weakening its defense posture on the Korean Peninsula. For now, the presidential office is drawing a line between supporting international efforts to secure Hormuz and committing South Korean forces to them. Seoul's eventual choice will have to balance its U.S. alliance and the economic importance of keeping Hormuz open against military readiness on the Korean Peninsula, relations with Iran and domestic public opinion. AJP Takeaways - Seoul says no decision has been made on deploying military assets despite deeper talks with France and other partners. - French-British defensive mission offers potential middle ground between U.S. demands and Iran's warnings. - South Korea has already backed the multinational framework politically, leaving the scale and form of any operational contribution unresolved. 2026-09-09 17:58:49
  • Coupang Surpasses 5 Trillion Won in Monthly Card Payments Amid Data Breach Fallout
    Coupang Surpasses 5 Trillion Won in Monthly Card Payments Amid Data Breach Fallout Coupang's monthly card payment amount has surpassed 5 trillion won, recovering from the impact of a data breach, and the number of users has reached a record high. According to AI data tech company IGAWorks' mobile index, Coupang's estimated credit and debit card payment amount for July was 5.09 trillion won, a 5.4% increase from the previous month's 4.83 trillion won. After dropping to an estimated 4.02 trillion won in February following the data breach at the end of last year, the company quickly rebounded, marking its first month above 5 trillion won. However, the estimated payment amount for August saw a slight decrease to 4.93 trillion won. The number of Coupang users also appears to have recovered from the effects of the data breach. Last month, the monthly active user count reached 35.95 million, up from 35.44 million in July. In February, the figure was recorded at 33.64 million. Following the data breach in November of last year, there was a movement among some consumers to cancel their memberships, but it seems that user attrition at the consumption level has effectively ended in the short term. Earlier, Coupang Inc. Chairman Kim Beom-seok noted during a conference call for the second-quarter earnings report last month that "some customers left Coupang for other services for several months, but they returned and have since restored their previous spending levels, showing a similar high growth rate as before," adding that "the number of Wow membership subscribers has surpassed the levels prior to the data incident." It is important to note that these figures are based on estimated credit and debit card payment data using AI algorithms, and actual transaction amounts may vary. Some payment data, such as from Naver Plus Store, is excluded from this tally. 2026-09-09 17:56:00