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Russian professor of Korean studies Andrey Lankov detained in Latvia: report

A Russian professor specializing in Korean studies and teaching at a South Korean university, Andrey Lankov, was detained by police in Latvia, where he was giving a lecture on North Korea, Russian media reported Wednesday. Lankov is seen here at a 2015 symposium on Korean unification held in Seoul. File photo by Yonhap

A Russian professor specializing in Korean studies and teaching at a South Korean university, Andrey Lankov, has been detained by police in Latvia, where he was giving a lecture on North Korea, Russian media has reported.

Professor Lankov of Kookmin University in Seoul was detained in Latvia and was added to the Latvian authorities’ “blacklist,” Russian news outlet RBC reported Wednesday (Russian time), citing an interview with the professor.

“Andrey Nikolaevich is safe and awaiting the arrival of his lawyer. The Australian consul has been notified of the situation,” RBC quoted the lecture organizers as saying. The professor is reported to hold both Russian and Australian citizenship.

Citing a local Latvian report, the news outlet also said the professor was taken away by Latvian police officers during a lecture in Riga. The lecture, titled “North Korea: What the Leaders Want and Fear”, was supposed to focus on North Korea, it said.

RBC did not provide reasons for Lankov’s detention.

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South Korean farmers sue utility giant KEPCO over climate damage to crops

1 of 6 | Farmer Ma Yong-un, seen here in his apple orchard in November, is one of five plaintiffs in a landmark civil suit against state-owned utility KEPCO for climate-related agricultural damages. Photo by Thomas Maresca/UPI

HAMYANG, South Korea, Feb. 23 (UPI) — As harvest season approached last November, farmer Ma Yong-un walked through his apple orchard in southern South Korea with a growing sense of dread.

The Fuji apples hanging from the trees were pale, lacking the deep red color that signals sweetness and commands a good price. To make matters worse, many were splitting open as they ripened.

An unusually rainy fall had blocked the sunlight needed for proper coloring, following one of the hottest summers on record.

“I had never seen this kind of cracking before,” Ma, 55, told UPI on his farm in Hamyang, a rural county in South Gyeongsang Province. “I was so stressed. I was worried about my family’s survival.”

A late dry spell before the harvest helped salvage some color, but another year of punishing weather had taken its toll. Ma estimated that half his apples were not of good quality.

Across South Korea, similar stories have become increasingly common. Farmers are facing mounting losses from heat waves, heavy rainfall, droughts and shifting growing seasons — impacts scientists widely link to climate change.

Now, their experiences are moving from fields and paddies into a courtroom.

Ma is one of five plaintiffs in a civil lawsuit filed against state-owned utility Korea Electric Power Corporation, or KEPCO, and five of its power-generation subsidiaries. The suit seeks financial compensation for climate-related agricultural damages and asks whether a major corporate emitter can be held legally responsible for the downstream effects of climate change.

The case is the first of its kind in South Korea, according to Yeny Kim, an attorney with the Seoul-based nonprofit Solutions for Our Climate, which is representing the plaintiffs.

“Agriculture is an industry that is absolutely dependent on climate conditions,” Kim told UPI. “As the climate changes, we’re reaching a point where certain crops can no longer be grown. That leads to damages to farmland, reduced yields and increased costs just to grow the same amount of crops.”

Filed in August, the lawsuit argues that KEPCO’s greenhouse gas emissions materially contributed to climate change and, in turn, to the plaintiffs’ economic losses.

Quantifying climate damage

The case is based on an analysis estimating $72.9 billion in climate-related economic damages linked to KEPCO’s emissions between 2011 and 2023. During that period, KEPCO and its subsidiaries accounted for roughly 27% of South Korea’s total greenhouse gas emissions, making the utility the single largest corporate emitter in the country.

Globally, the companies’ emissions represented about 0.39% of cumulative worldwide emissions over the same timeframe — a figure the plaintiffs argue is sufficient to establish measurable responsibility for climate-driven harm.

“In a court of law, quantifiable harm means legal liability,” Kim said.

The lawsuit draws on the “polluter pays” principle, which holds that those responsible for pollution should bear the costs of the damage it causes. While widely used in environmental law, applying it to climate change remains largely untested in Korean courts.

Each plaintiff is seeking an initial 5 million won — about $3,400 — in damages, an amount that could be adjusted as the case proceeds. They are also requesting an additional 2,035 won, roughly $1.40, as symbolic compensation for the emotional and psychological toll they say climate change has imposed on their lives.

Hwang Seong-yeol, a rice farmer and fellow plaintiff, said anxiety and a sense of helplessness now shadow every growing season.

“We just look at the sky and wonder what the weather is going to be like,” Hwang said at a press briefing in Seoul in November. “Being stressed from physical labor is something we can endure. But the stress caused by climate change is completely unbearable.”

The suit’s first hearing took place at Gwangju District Court last month. Court records show the defendants have submitted multiple written responses contesting the claims. The next hearing is scheduled for April 23.

KEPCO did not respond to a request for comment. The company has pledged to achieve carbon neutrality by 2050, in line with South Korean government policy.

An economy at risk

South Korea has lagged other developed countries in transitioning away from fossil fuels. Government data show just 10.7% of the country’s electricity came from renewable sources in 2024, well below the global average of roughly 32%.

The country is also particularly exposed to climate disruptions abroad. South Korea imports the vast majority of its food — its calorie self-sufficiency rate stood at just 32.5% in 2023, roughly half the level recorded in 1990, according to the Korea Rural Economic Institute. The broader grain self-sufficiency rate, including animal feed, has fallen to 22.2%, among the lowest of any OECD country.

Nam Jae-Chol, a professor at Seoul National University and former administrator of the Korea Meteorological Administration, told UPI that dependence leaves the country vulnerable when climate shocks hit major exporters.

“When exporting countries begin to limit shipments because of climate impacts, that’s when the problem becomes visible,” Nam said. “If agricultural imports suddenly decline because of climate change, prices will skyrocket. In extreme cases, exports could even stop.”

“In 10 or 20 years, we’re going to face a serious crisis due to climate change,” Nam added. “It’s inevitable.”

In South Korea, warming temperatures have already pushed traditional crop-growing zones northward, forcing farmers to adapt — changing what they grow, how they manage water and how they run their operations, Nam said.

Ma said he first felt the full weight of climate change in 2018, when severe cold and frost tore through his orchard, a moment that convinced him the changes were accelerating.

Since then, he has cut his use of chemical fertilizers and tried more eco-friendly practices to improve soil health. He has also begun to consider whether he may eventually need to change crops or even move his orchard entirely — decisions that carry steep costs and uncertainty.

“The compensation is 5 million won, but the damages I suffered this fall alone were ten times more than that,” Ma said. “So the amount itself doesn’t really mean much.”

What he hopes, he said, is that the lawsuit makes those struggles harder to ignore.

“Climate change is already having a huge impact on our agriculture, and people need to see that,” Ma said. “KEPCO cannot continue operating this way, and Korea needs to change its energy policy toward something more sustainable.”

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S. Korean firms wary as Trump floats global tariffs

epa12767533 Steel products for export are stacked at a port in Pyeongtaek, around sixty kilometers south of Seoul, South Korea, 22 February 2026. Photo by YONHAP / EPA

Feb. 22 (Asia Today) — South Korea’s industrial sector said there is no immediate change in tariff rates but warned that uncertainty has grown after U.S. President Donald Trump signaled plans to impose new global tariffs.

Trump said Friday he would raise the proposed “global tariff” rate from 10% to 15% following a U.S. Supreme Court ruling that struck down his earlier reciprocal tariffs. The 15% duties previously applied to South Korea are expected to reappear under the new global tariff framework.

Industry officials said item-specific tariffs on automobiles, steel and semiconductors have not been directly addressed in the latest announcement, leaving companies cautious about possible next steps.

Major exporters are closely monitoring developments as Washington has yet to finalize detailed tariff guidelines.

Semiconductors, one of South Korea’s top export items, are currently subject to product-specific tariff discussions but remain duty-free for now. However, companies have not ruled out the possibility that Washington could soon put semiconductor tariffs on the negotiating table or raise rates to offset revenue lost from the invalidated reciprocal tariffs.

SK Group Chairman Chey Tae-won said after attending the U.S. Trans-Pacific Dialogue that he would review the court ruling before commenting further, reflecting the cautious stance of corporate leaders.

Automobile and steel tariffs are expected to remain in place regardless of the court decision. Automobiles and auto parts currently face a 15% tariff, while steel and aluminum were hit with a 50% tariff last year. Analysts said additional increases in those sectors appear unlikely in the near term.

For food, cosmetics, home appliances and chemical products, a 15% global tariff would largely mirror the current reciprocal tariff level. If the rate were set at 10% instead, exporters could see a modest reduction compared with the existing 15% rate.

While companies say there is no immediate operational impact, executives are concerned that Trump could invoke other trade authorities to introduce new measures, further complicating trade planning.

Industry officials said businesses are preparing contingency strategies as they await clearer guidance from Washington.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260222010006449

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Overseas online sales of S. Korean products reach record high in 2025

Online sales of South Korean products in overseas markets rose to a record high in 2025, government data showed Monday. In this December photo, foreign tourists shop at an Olive Young outlet in Incheon International Airport. File Photo by Yonhap

Online sales of South Korean products in overseas markets rose for the third consecutive year to a record high in 2025, government data showed Monday.

Outbound online sales by South Korean businesses reached 3.02 trillion won (US$2.09 billion) last year, up 16.4 percent from a year earlier, according to the data from the Ministry of Data and Statistics. The figure has been on a steady increase since 2023.

By region, sales increased by 26.3 percent on-year in the United States and 10.9 percent in China, while sales to the 10 member countries of the Association of Southeast Asian Nations (ASEAN) fell 4.4 percent.

By product category, food and beverage sales surged 49.2 percent to 112.9 billion won, the highest level since the statistical standards were revised in 2017.

Sales of cosmetics rose 20.4 percent, while those of albums, videos and musical instruments increased 7 percent.

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Kim Yo Jong warns of ‘terrible response’ to South Korean drone incursions

Kim Yo Jong, the sister of North Korean leader Kim Jong Un, warned Friday that future drone incursions by South Korea would trigger a “terrible response.” Kim is seen here in a 2019 photo at a wreath-laying ceremony in Hanoi, Vietnam. File Pool Photo by Jorge Silva/EPA-EFE

SEOUL, Feb. 13 (UPI) — Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un, said Friday that Seoul’s expression of regret over alleged drone incursions was “sensible,” but cautioned that any future flights would trigger a “terrible response.”

The statement, carried by the state-run Korean Central News Agency, followed comments Tuesday by South Korean Unification Minister Chung Dong-young, who expressed “deep regrets” over alleged drone flights into the North as part of the Lee Jae Myung administration’s broader push to ease tensions with Pyongyang.

North Korea’s military last month said it shot down a South Korean surveillance drone near the border city of Kaesong. Seoul has denied involvement, saying it does not operate the drone model cited by the North.

Kim described Chung’s remarks as “fortunate” and “quite sensible behavior,” but said South Korean authorities must take preventive measures to ensure such violations “would never happen again.”

“We don’t care who the very manipulator of the drone infiltration into the airspace of the DPRK is and whether it is an individual or a civilian organization,” she said.

The Democratic People’s Republic of Korea is the official name of North Korea.

“I give advance warning that reoccurrence of such provocation as violating the inalienable sovereignty of the DPRK will surely provoke a terrible response,” Kim said. “Various counterattack plans are on the table and one of them will be chosen without doubt and it will go beyond proportionality.”

A South Korean investigation initially centered on three civilians who were placed under travel bans last month. But a joint military-police task force on Tuesday raided the country’s spy agency and a military intelligence command as the probe widened to include three military officers as suspects.

On Wednesday, the Unification Ministry said Seoul would take immediate action to prevent future incidents.

“The government is conducting a thorough investigation and will immediately implement measures to prevent similar incidents,” ministry spokesman Yoon Min-ho said at a regular press briefing.

Kim’s statement was “signaling the need for joint efforts between the two Koreas to ease tensions and prevent accidents on the Korean Peninsula,” Yoon added.

North Korea is preparing to convene its Ninth Party Congress later this month, where Kim Jong Un is expected to outline a new five-year economic plan and recalibrate military and foreign policy priorities. Analysts will be watching for signs the North will formalize a hardened posture toward Seoul. In 2024, Pyongyang designated the South a “hostile state” and publicly rejected the long-held goal of reunification.

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South Korean game makers split on IP strength, new releases

A chart shows 2025 annual revenue and operating profit for major South Korean game companies, highlighting strong performances by Nexon and Krafton and losses at Kakao Games and Pearl Abyss. Graphic by Asia Today and translated by UPI

Feb. 12 (Asia Today) — South Korea’s major game developers reported sharply mixed 2025 results, with companies backed by strong intellectual property and hit new titles posting record earnings while others struggled amid delays in releases.

Nexon said annual revenue rose 6% to 475.1 billion yen (about 4.51 trillion won, or roughly $3.13 billion), marking a record high. Operating profit reached 124 billion yen (about 1.18 trillion won, or $819 million).

The company attributed growth to the success of new title “Arc Raiders,” which has sold more than 14 million copies, and global expansion of the MapleStory franchise. Franchise revenue for MapleStory rose 43%, while Dungeon & Fighter posted double-digit growth in South Korea and China.

Krafton joined the so-called “3 trillion won club,” reporting annual revenue of 3.33 trillion won (about $2.31 billion) and operating profit of 1.05 trillion won (about $729 million), both record highs. Revenue from the PUBG: Battlegrounds IP increased 16% from a year earlier, supported by global collaborations and new game modes.

Netmarble posted revenue of 2.84 trillion won (about $1.97 billion) and operating profit of 352.5 billion won (about $244 million), helped by new titles based on in-house IP such as Seven Knights Reverse and RF Online Next.

NCSoft saw revenue fall 5% to 1.51 trillion won (about $1.05 billion) but returned to profitability with operating profit of 16.1 billion won (about $11 million), aided by cost-cutting and the November launch of Aion 2.

In contrast, Kakao Games reported a 26% drop in revenue to 465 billion won (about $322 million) and an operating loss of 39.6 billion won (about $27 million), citing a gap in new releases and restructuring costs.

Pearl Abyss posted revenue of 365.6 billion won (about $253 million) and an operating loss of 14.8 billion won (about $10 million), extending losses for a third consecutive year. The company said its upcoming title Red Desert, scheduled for release in March, will be key to a turnaround.

Industry analysts said the results underscore the importance of long-running hit franchises and well-timed new launches.

“Companies that steadily operated successful IP while expanding revenue through updates and collaborations were able to limit volatility,” one industry official said. “Those with prolonged gaps in new releases inevitably faced short-term revenue declines.”

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260213010004838

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South Korea raids spy agencies in probe of alleged N. Korean drone case

South Korean Deputy Defense Minister for national defense policy, Kim Hong-cheol, speaks during a briefing over North Korea’s claims of South Korean drone incursions into the North in September last year and earlier this week, at the defense ministry’s headquarters in central Seoul, South Korea, 10 January 2026. South Korea on 10 January denied North Korea’s claims that its drones infiltrated into the North in September 2025 and on 04 January 2026. File. Photo by YONHAP / EPA

Feb. 10 (Asia Today) — South Korea’s military-police joint investigation task force has conducted search-and-seizure operations at the National Intelligence Service and the Army Intelligence Command as part of a widening probe into allegations that drones were sent into North Korea with possible involvement by intelligence officials.

The task force said it executed warrants at 18 locations, including intelligence agencies, as well as the homes and offices of civilian suspects. Investigators are examining whether intelligence personnel contacted the alleged main perpetrator and provided cash payments related to the drone activities.

The NIS has denied any institutional involvement, saying there was no government-level direction. However, critics argue that the scale and nature of the alleged operation make it difficult to believe it occurred without awareness within the intelligence community.

According to the task force, three active-duty officers – a major and a captain from the Army Intelligence Command and a captain from a separate military unit – have been booked on suspicion of violating the Aviation Safety Act and other charges. Three civilians accused of launching drones toward North Korea from border areas have also been additionally charged under the Criminal Act with general offenses against the state.

Earlier, investigators booked three civilians, including the head of a drone manufacturing company, a company executive responsible for North Korea-related operations and a graduate student who claimed to have flown drones into the North. During the investigation, authorities identified evidence suggesting that one NIS employee and three active-duty military personnel contacted the graduate student and provided several million won in cash described as activity expenses.

The Army Intelligence Command said the civilian was recruited as a collaborator to assist intelligence-gathering activities, not to carry out drone operations. The NIS said the employee involved had never held a position allowing access to agency funds and had not used intelligence budgets.

Investigators and analysts, however, question whether a civilian could independently carry out drone infiltration activities targeting North Korea. Given the suspect’s repeated contact with intelligence officers, some observers say it is likely the incident was at least known within intelligence circles.

A source familiar with intelligence operations said it was premature to draw firm conclusions but noted that, given the nature of the alleged activity, it is difficult to rule out prior awareness or information sharing within the intelligence system. The NIS holds authority over budget oversight and operational audits of domestic intelligence bodies, raising further questions about internal controls.

The case has also reignited criticism of South Korea’s intelligence agencies as highly closed organizations, with tightly compartmentalized budgets and operations. Some analysts argue that such structures could allow activities inconsistent with the government’s stated North Korea policy to be carried out without effective civilian oversight.

“Operations of this scale are structurally difficult for a single agency to carry out alone,” another source said. “Given the command and budgetary framework, it is hard to understand how this could have proceeded without passing through the NIS.”

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260210010003810

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S. Korean firms urge gov’t to facilitate visits to inter-Korean industrial complex

Members of the Corporate Association of Gaeseong Industrial Complex held a press conference Friday at the customers, immigration and quota (CIQ) office in Paju on Friday, calling for the government to help business owners access the shuttered complex. Photo by Yonhap

An association of South Korean companies that previously operated at an inter-Korean factory zone in North Korea on Tuesday called on the government to make efforts to allow business owners to visit the now-shuttered complex.

About 80 representatives from 38 member companies of the Corporate Association of Gaeseong Industrial Complex (CAGIC) made the request at a press conference held at the customers, immigration and quota (CIQ) office at Dorasan Station in Paju, just north of Seoul.

The association said its members hope to present the Kaesong Industrial Complex, which has been closed for the past decade, to inspect their business assets there.

“Ten years after the closure of the Kaesong Industrial Complex, companies that operated there are facing a threat to their survival. We want to return to Kaesong,” CAGIC Chairman Cho Kyung-joo told reporters.

The Park Geun-hye administration shut down the industrial complex on Feb. 10, 2016, in response to North Korea’s nuclear test and long-range missile launches.

Launched in 2004 as a flagship project symbolizing inter-Korean economic cooperation and reconciliation, the complex once employed about 55,000 North Korean workers at 120 South Korean firms.

Cho also urged the U.S. government to play a responsible role in approving visits by South Korean business owners aimed at protecting their assets in Kaesong.

“Just as the United States recently granted sanctions exceptions for humanitarian assistance in several global cases discussed at United Nations meetings, it should make clear that business owners’ visits to inspect their assets in Kaesong do not fall under sanctions”, he said.

Appealing to North Korea, Cho said companies operating at the complex had conducted business in good faith based on inter-Korean agreements and called on Pyongyang to cooperate in allowing business owners to visit the industrial zone.

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South Korean judge indicted under anti-graft law, prosecutors say

Self-proclaimed power broker Myung Tae-kyun speaks to the press upon arriving at the Seoul Central District Court in South Korea, 07 November 2025. He is attending a hearing as a witness in an election-meddling case involving Kim Keon Hee, the wife of former President Yoon Suk Yeol. File. Photo by YONHAP / EPA

Feb. 7 (Asia Today) — A presiding judge at the Changwon District Court has been summarily indicted on suspicion of violating South Korea’s anti-graft law, prosecutors said Friday, days after he issued acquittals in a high-profile political funding case.

Legal sources said the Seoul Central District Prosecutors Office filed a summary indictment against Judge Kim In-taek on Wednesday for alleged violations of the Improper Solicitation and Graft Act.

Kim is accused of receiving luxury clothing worth several million won (several thousand dollars) last year from a duty-free shop employee identified only as a team leader surnamed A at HDC Shilla Duty Free. Prosecutors are also examining allegations that the employee covered expenses for an overseas trip taken with Kim.

Under the anti-graft law, public officials including judges who receive valuables exceeding 1 million won (about $681) in a single instance can face up to three years in prison or a fine of up to 30 million won (about $20,438).

On Thursday, Kim acquitted political broker Myung Tae-gyun and former People Power Party lawmaker Kim Young-sun of charges related to alleged political funding violations, ruling that money exchanged between them did not constitute political funds, according to the report. In the same case, the court convicted Myung of inducing the concealment of evidence and sentenced him to six months in prison, suspended for one year.

Kim is scheduled to transfer to the Suwon District Court on Feb. 23 under the judiciary’s regular personnel rotation.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260207010002588

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Canadian defense procurement minister tours Korean firms, praises technology

Canada’s Minister of State for Defense Procurement Stephen Fuhr tours a South Korean defense production facility during his visit to the country. Graphic by Asia Today and translated by UPI

Feb. 4 (Asia Today) — Canada’s minister responsible for defense procurement toured major South Korean defense companies this week, praising their technology and production capabilities as Ottawa moves ahead with large-scale land and naval modernization plans.

Stephen Fuhr, Canada’s minister of state for defense procurement, visited facilities operated by HD Hyundai and Hanwha during a three-day trip to South Korea, industry officials said Tuesday.

Canada is preparing to procure new submarines valued at up to 60 trillion won ($44.9 billion) and self-propelled howitzers worth about 8 trillion won ($6.0 billion). Korean firms used the visit to highlight their submarine construction, artificial intelligence applications and plans for local production in Canada.

HD Hyundai said Fuhr and his delegation toured its research and development center in Pangyo, south of Seoul, where they reviewed models of destroyers, frigates and submarines built by its shipbuilding arm, HD Hyundai Heavy Industries. The delegation also examined progress on autonomous ship technologies incorporating AI.

Earlier, Fuhr visited Hanwha Ocean’s Geoje shipyard and boarded the Jang Young-sil, a next-generation Korean submarine proposed for Canada’s Canadian Patrol Submarine Project. The project, with bids due in early March, is expected to reach up to 60 trillion won and has attracted competition from Germany’s TKMS.

Industry officials said Fuhr’s tight schedule, traveling from South Gyeongsang Province to Gyeonggi Province, reflected Ottawa’s intent to closely assess Korea’s special-purpose shipbuilding capacity. Analysts say Korean firms have emerged as strong contenders in the final stage of the bidding.

“It is meaningful that Korea, with less than 50 years of submarine development experience, is competing head-to-head with Germany,” said Jang Won-jun, a professor of advanced defense technology at Jeonbuk National University. He added that Korean submarine construction has reached roughly 90% to 95% of Germany’s technical level, with an edge in price competitiveness.

Industry sources said Fuhr spoke favorably of the technology on display, describing the facilities as “feeling like the future has already arrived,” remarks viewed as an implicit endorsement of Korea’s capabilities.

Beyond submarines, Canada is also advancing its Indirect Fire Modernization program, which emphasizes land-based systems and involves investments of more than $6 billion to acquire new self-propelled howitzers and long-range rocket systems.

Fuhr visited Hanwha Aerospace’s Changwon plant, where he toured production lines for the K9 self-propelled howitzer, K10 ammunition resupply vehicle and Cheonmu multiple rocket launcher, and observed live maneuver demonstrations. The company proposed an integrated firepower and mobility package and pledged to establish manufacturing operations in Canada to support local jobs and technology transfer.

Hanwha Aerospace CEO Son Jae-il said the company aims to become a key partner in Canada’s military modernization based on its track record in delivery and accumulated technological expertise.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260205010001719

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Samsung becomes first Korean stock to top 1,000 trillion won in value

Samsung Electronics Executive Chairman Lee Jae-yong smiles during a meeting with South Korean President Lee Jae Myung and Nvidia founder and CEO Jensen Huang on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, 31 October 2025. File. Photo by JUNG YEON-JE / EPA

Feb. 4 (Asia Today) — Samsung Electronics’ common shares became the first single stock in South Korea to reach a market capitalization of 1,000 trillion won ($690.7 billion) as the benchmark KOSPI hovered near the 5,300 level.

The milestone came about two weeks after Samsung’s combined common and preferred shares exceeded 1,000 trillion won in market value.

The Korea Exchange said Samsung Electronics closed Wednesday at 169,100 won ($116.80), up 0.96% from the previous session. The shares have gained 31.6% from their closing level on Jan. 2 of 128,500 won.

Samsung opened lower, then turned higher late in the morning. After moving into positive territory in early afternoon trading, the stock set an intraday record of 169,400 won.

Individual investors bought a net 135.1 billion won ($93.3 million) of Samsung shares and institutional investors bought a net 650.2 billion won ($449.1 million), helping push the stock to the 1,000 trillion won threshold.

Analysts have linked the rally to rising memory prices amid expanding global investment in artificial intelligence infrastructure. Samsung posted 20 trillion won ($13.8 billion) in operating profit in the fourth quarter of last year, setting a quarterly record, and brokerages have forecast annual operating profit exceeding 130 trillion won ($89.8 billion) this year.

Samsung Chairman Lee Jae-yong attended a corporate roundtable on youth employment and regional investment expansion at the Blue House on Wednesday. The meeting included leaders from South Korea’s top conglomerates and marked President Lee Jae-myung’s first major gathering this year with business chiefs.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260204010001675

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Korean lawmakers clash over Trump tariff threat, U.S. investment bill

Foreign Minister Cho Hyun answers lawmakers’ questions during a National Assembly committee hearing in Seoul on Wednesday. Photo by Asia Today

Jan. 28 (Asia Today) — South Korea’s opposition People Power Party and the ruling Democratic Party traded accusations Wednesday over U.S. President Donald Trump’s remarks about restoring higher tariffs, with conservatives faulting the government’s diplomacy and liberals arguing Seoul must move quickly to pass pending legislation tied to a bilateral investment package.

The dispute unfolded at a National Assembly Foreign Affairs and Unification Committee hearing, where Foreign Minister Cho Hyun faced questions about what the opposition described as a sudden reversal after the government promoted a tariff outcome that did not require a formal agreement document.

People Power Party floor leader Song Eon-seok said the public had been led to believe tariffs would remain lower once legislation related to U.S.-bound investment was introduced and processed. He said Trump’s renewed tariff warnings felt like a betrayal to many South Koreans and criticized the government for opposing parliamentary ratification procedures, arguing major commitments should be handled through proper legislative channels.

Several People Power Party lawmakers pressed the government over the effectiveness of its communication channel with Washington, mocking earlier claims that a high-level “hotline” had been established and questioning whether Seoul had meaningful leverage if tariff threats resurfaced so quickly.

Rep. Ahn Cheol-soo said the government’s claim that negotiations were so successful they did not require a joint statement was not credible. He argued that if talks had been truly successful, the two sides would have presented the outcome publicly through a joint briefing.

Ruling party lawmakers countered that Trump’s unpredictability is well known and that repeated focus on ratification could slow Seoul’s ability to respond diplomatically and economically. They urged swift deliberation and passage of a special bill tied to U.S. investment commitments, saying similar memorandums and fact sheets with partners are often handled without full treaty-style ratification.

The dispute comes as South Korea moves to implement a bilateral memorandum and related measures that had been linked to tariff levels, while Seoul says it has not received an official U.S. notice of any change.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260129010013250

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