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  Lotte chair calls for quality-growth pivot as petrochemicals and retail falter SEOUL, January 16 (AJP)-Lotte Group Chairman Shin Dong-bin on Thursday called for a decisive shift toward “quality growth” centered on profitability and efficiency, as the South Korean conglomerate’s flagship petrochemicals and retail businesses both posted weak performance last year, underscoring mounting pressure on the group’s traditional growth engines. The message came at Lotte’s first Value Creation Meeting (VCM) since a sweeping leadersh January 16, 2026
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  Seoul market hits new high despite rate pause as regional peers falter SEOUL, January 15 (AJP) - Korean stocks surged to fresh highs on Thursday, extending a 10-session winning streak, even as most other Asian markets finished mixed amid cautious regional sentiment. In Seoul, the benchmark KOSPI jumped 1.58 percent to close at 4,797.6, edging closer to the symbolic 5,000-point mark. The tech-heavy KOSDAQ gained 1.0 percent to 951.2. The rally was led by heavyweight technology and auto shares. Samsung Electronics climbed 2.6 percent to 143,900 won, January 15, 2026
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  Memory chips take center stage in AI-driven semiconductor boom SEOUL, January 15 (AJP) - The rapid expansion of artificial intelligence (AI) is reshaping the global semiconductor market, propelling memory chips, once considered a cyclical commodity, to the forefront of the industry's future growth engine. Amid a heated race for data centers to build AI servers and inference systems, demand for high-bandwidth memory (HBM), server-grade DRAM, and storage has surged, creating what analysts describe as a rare "triple supercycle" in th January 15, 2026
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  Pictures from Nara SEOUL, January 15 (AJP) -Drumbeats, temple corridors and carefully choreographed cultural gestures took center stage during South Korean President Lee Jae Myung’s brief two-day visit to Nara Prefecture, a trip that emphasized symbolism and atmosphere over contentious diplomatic files. Lee visited Nara at the invitation of Japanese Prime Minister Sanae Takaichi, wrapping up his fifth overseas trip since taking office and his second summit with the Japanese leader before depa January 15, 2026
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  South Korean defense ETFs surge as geopolitical tensions mount SEOUL, January 15 (AJP) -Growing geopolitical risks from Ukraine to Venezuela and Iran have lifted South Korean defense-related exchange-traded funds (ETFs) to the top of the country’s stock market rankings this year, outpacing even the red-hot semiconductor sector. According to ETFCheck data as of Tuesday, leveraged defense ETFs dominated the performance leaderboard. The PLUS K-Defense Leverage and KODEX K-Defense TOP10 Leverage surged 61.2 percent and 60.9 percent, respe January 15, 2026
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  Korea's new regional airline targets islands and emergency medical transport SEOUL, January 15 (AJP) - South Korea's new regional airline SUM Air, which aims to become a major transport link between regional areas and islands, unveiled its first brand-new aircraft at Gimpo International Airport on Thursday. The carrier plans to connect underserved islands and provide essential medical transport services, positioning itself as the only airline capable of serving various island airports. As a Regional Air Mobility (RAM) operator led by CEO Choi Yong-du January 15, 2026
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  Korea moves fast on Grok as global deepfake backlash grows SEOUL, January 15 (AJP) — South Korea has taken its first regulatory steps targeting xAI’s chatbot Grok, as governments worldwide step up scrutiny of generative AI tools over deepfake abuse and illegal content. The Korea Media and Communications Commission (KMCC) on Wednesday sent an official notice to X requesting stronger safety measures for Grok, including tighter controls on harmful content and stricter restrictions on minors’ access. The commission also January 15, 2026
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  As China exports its surplus, Korea, Germany and Japan pay the industrial price SEOUL, January 15 (AJP) -China logged a record $1.19 trillion trade surplus in 2025, underscoring the resilience of its export engine despite renewed U.S. tariff pressure — and sharpening competitive strain on other manufacturing economies from South Korea to Germany and Japan. According to China’s General Administration of Customs, the surplus expanded by roughly 20 percent from 2024, even as exports to the United States fell by about 20 percent following tou January 15, 2026
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  Thousands of sculptures on display at annual art fair in Seoul SEOUL, January 15 (AJP) - The annual Seoul International Sculpture Festa kicked off its monthlong run at COEX in Samseong-dong, southern Seoul on Thursday. Now in its 15th year, the event is solely dedicated to exhibiting sculptures, drawing numerous art enthusiasts every year. This year's exhibition features around 2,000 works from approximately 480 artists. January 15, 2026
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  Foreign workers' visa applications for this year to begin late this month SEOUL, January 15 (AJP) - The Ministry of Employment and Labor said Thursday it will accept applications for new employment permits under its E-9 visa program in five rounds this year, allowing companies facing labor shortages to hire foreign workers. The first round of applications will run from Jan. 26 to Feb. 10, followed by additional rounds in April, July, September, and November. According to the ministry, companies can apply depending on their business conditions and sta January 15, 2026