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  Korean memory makers share boom year with employees in cash and stock rewards SEOUL, January 16 (AJP) -South Korea’s two largest memory chipmakers, Samsung Electronics and SK hynix are rolling out handsome cash and stock rewards for their employees amid red-hot earnings and extended stock rally. Samsung Electronics said its Device Solutions (DS) division, which oversees the company’s semiconductor operations, has set its excess profit incentive (OPI) at 47 percent of annual salary, according to an internal notice circulated this week. The rat January 16, 2026
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  Ex-president gets 5 years in prison in first verdict on martial law-related charges SEOUL, January 16 (AJP) - Former President Yoon Suk Yeol was sentenced to five years in prison on Friday over one of several charges related to his botched martial law debacle. The Seoul Central District Court in southern Seoul handed down the sentence over charges that Yoon obstructed law enforcement by blocking investigators and other officials who attempted to detain him following his abrupt late-night declaration of martial law on Dec. 3, 2024. It was Yoon's first sentenc January 16, 2026
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  Daewoo E&C to build AI data centers in southwestern counties SEOUL, January 16 (AJP) - Daewoo Engineering & Construction announced a plan Friday to build artificial intelligence data centers with a combined power capacity of 500 megawatts in South Jeolla Province. The company said it signed a memorandum of understanding with the municipal governments of South Jeolla Province, Jangseong County, Gangjin County and a consortium of public and private partners, to develop AI data centers in the region. Under the agreement, the partners January 16, 2026
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  About a dozen injured as bus crashes onto sidewalk in Seoul SEOUL, January 16 (AJP) - A bus crashed onto a sidewalk in Seoul on Friday, leaving two people seriously hurt and about a dozen others injured. According to rescue workers who arrived shortly after the accident, the bus ran onto the sidewalk near Seodaemun subway station at around 1:15 p.m. About 11 people including the bus driver were believed to be passengers on board and suffered minor injuries, while the two people seriously injured were pedestrians. Police said there January 16, 2026
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  Actress Nana cleared of assault charges in home break-in case SEOUL, January 16 (AJP) - Actress Nana has been cleared of assault charges filed by a man who allegedly broke into her home late last year, police said Friday. Police in Guri, Gyeonggi Province said they would not pursue charges of attempted murder and assault against Nana in a countersuit filed by the intruder, determining that her actions were in self-defense. After questioning Nana last week, police concluded that her actions were lawful self-defense, in line with prosecutors January 16, 2026
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  KT taps Taiwan's cable leader to expand AI media footprint SEOUL, January 16 (AJP) - South Korea’s KT said Friday it has partnered with Taiwan’s largest cable television operator, KBRO, to enter the Taiwanese market with artificial intelligence–based digital media and smart home services. Under a strategic memorandum of understanding with KBRO, signed on Jan. 15 in Taipei, KT will supply AI-driven media and device technologies, including smart home services, interactive voice recognition, AI-optimized user interfaces a January 16, 2026
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  Former Air Force chief named ambassador to Israel SEOUL, January 16 (AJP) - Park In-ho, a former Air Force chief, has been named South Korea's new ambassador to Israel, the Ministry of Foreign Affairs said on Friday. The graduate of the Korea Air Force Academy, long regarded as a bastion for elite cadets, served as Air Force chief from July 2021 to May 2022 under the former Moon Jae-in administration, after holding various posts including a policy planning role at the Ministry of National Defense. Since retiring, Park has January 16, 2026
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  US Navy selects South Korea's HJ Shipbuilding for ship repair partnership SEOUL, January 16 (AJP) - HJ Shipbuilding & Construction said on Friday it has been selected by the U.S. Navy as a partner for its ship repair program. The decision enables the South Korean shipbuilder to participate fully in maintenance, repair and overhaul work for major U.S. naval vessels. The agreement will run from Jan. 23 through Jan. 22, 2031, the company said. The U.S. Navy program is a framework agreement between the U.S. government and private shipyards that January 16, 2026
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  South Korea's 'sovereign AI' push stumbles as Naver, Kakao step aside SEOUL, January 16 (AJP) - Naver Cloud and Kakao, South Korea’s two largest internet platform operators, have decided not to take part in an additional round of bidding for the government’s flagship artificial intelligence project, dealing an early setback to Seoul’s push to build a “sovereign AI” foundation model. The withdrawal by the two companies — long seen as natural contenders given their vast user data, cloud infrastructure and AI researc January 16, 2026
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  KOSPI soars above 4,800 for first time while Nikkei tumbles SEOUL, January 16 (AJP) - Asian stock markets opened mixed in early trading on Friday, with South Korea's KOSPI hitting a fresh record high, while Japanese shares retreated on profit-taking. In Seoul, the benchmark index rose 0.95 percent to 4,841.81, surpassing the 4,800 level for the first time on record, while the tech-heavy KOSDAQ lagged, slipping 0.43 percent to 947.06 shortly after the day's trading began. Strong U.S. labor data kept the dollar firm, pushing the exc January 16, 2026