LG Energy Solution hit by $9 bn deal loss this month as FBPS scraps $3 bn contract SEOUL, December 26 (AJP) -LG Energy Solution (LGES) has terminated a 3.9 trillion won ($2.7 billion) battery supply contract with Freudenberg Battery Power Systems (FBPS), marking a second major cancellation in quick succession as the Korean battery maker grapples with a slowdown in the global electric-vehicle market. In a regulatory filing Friday, the South Korean battery maker said it mutually agreed with FBPS to end the contract after the U.S.-based company decided to withdraw fr December 26, 2025

Korea's No.2 retailer Shinsegae loses data on 80,000 employees and subcontractors SEOUL, December 26 (AJP) -Shinsegae Group has become another South Korean major retailer to report data breach involving 80,000 employees and workers at partner companies, although no customer data was compromised. Shinsegae I&C, the group’s information technology arm, said Friday it had detected signs of unauthorized access to its internal intranet and confirmed that employee-related data had been leaked. The exposed information includes corporate ID numbers, name December 26, 2025

OPINION: Yasukuni Shrine and Japan's quiet sanitization of its WWII crimes SEOUL, December 26 (AJP) - Japan often portrays itself as a paragon of modern civility - an orderly, technologically sophisticated society known for its consumer electronics, comics and clean toilets. However, that carefully cultivated image of December 26, 2025

Mirae Asset Securities prepares to launch omnibus accounts for foreign investors SEOUL, December 26 (AJP) - Mirae Asset Securities is preparing to introduce omnibus accounts that would allow foreign investors to trade South Korean stocks without opening local brokerage accounts, according to industry sources. The securities firm is developing systems and updating contract documents while working with overseas affiliates in the United States and Europe to prepare for account openings and service launches, industry officials said Friday. Omnibus accounts enable December 26, 2025

Defense and unification ministries hold joint session on potential inter-Korean military talks SEOUL, December 26 (AJP) - South Korea’s Ministry of National Defense (MND) and Ministry of Unification (MOU) held a joint workshop on Friday to prepare for potential military dialogue with North Korea, despite the lack of a response from Pyongyang regarding recent proposals. The session, held at the Office of Inter-Korean Dialogue in central Seoul, focused on inter-agency coordination and reviewing readiness measures for future negotiations. During the workshop, defen December 26, 2025

Animation pioneer Nelson Shin, VFX leader Daniel Son to lead jury at WAIFF Seoul 2026 SEOUL, December 26 (AJP) - The World AI Film Festival Seoul 2026 (WAIFF Seoul 2026) has appointed animation pioneer Nelson Shin as a jury member and named Daniel Son, founder and chief executive of visual effects studio Westworld, as president of the jury, reinforcing Korea’s growing role in shaping the future of AI-driven filmmaking. The appointments bring together two figures representing different generations of global visual storytelling — from the foundations of m December 26, 2025

Korean, Japanese stocks and currencies hold ground on foreign buying in chip shares SEOUL, December 26 (AJP) - South Korean and Japanese markets held ground Friday, supported by foreign inflows into semiconductor stocks and a recovery in currencies that had been among the year’s weakest performers. In Seoul, the benchmark KOSPI closed at 4,129.68, up 0.5 percent, while the tech-heavy KOSDAQ also edged up 0.5 percent to 919.67. Chip heavyweights led the market. Samsung Electronics surged 5.3 percent to 117,000 won ($81), while SK hynix rose 1.9 percent to 5 December 26, 2025

OPINION: Illegal crypto operators on the rise in Korea More operators are running virtual-asset businesses without reporting to South Korea’s Financial Intelligence Unit, in violation of the Act on Reporting and Using Specified Financial Transaction Information, commonly known as the Specified Financial Information Act. Despite the FIU’s hard-line enforcement through ongoing monitoring, user tips and cooperation with related agencies, information encouraging use of unreported operators — including false or exaggera December 26, 2025

KAI signs $69 million deal to upgrade Philippines' FA-50PH jets SEOUL, December 26 (AJP) - Korea Aerospace Industries (KAI) signed a contract with the Philippines on Friday to upgrade 11 FA-50PH fighter jets for about 93 billion won ($65 million). The deal includes aircraft performance upgrades and follow-on logistics support for jets delivered between 2015 and 2017, with work to be completed by 2029, the South Korean aircraft manufacturer said. The upgrade will strengthen the FA-50PH's ability to operate precision-guided weapons, exten December 26, 2025

Seoul's presidential office returns to Cheong Wa Dae Monday SEOUL, December 25 (AJP) - South Korean President Lee Jae Myung will formerly begin work at the Cheong Wa Dae on Monday, making the end of the presidential office's temporary operation in Yongsan-gu. The official name of the president’s office will change from the Office of the President to Cheong Wa Dae on the same day. At midnight, the phoenix flag symbolizing the head of state will be lowered at the Yongsan presidential office to be raised at Cheong Wa Dae. Forme December 26, 2025