World

Feb. 6 (UPI) — A group of prominent Nigerian religious and traditional leaders visited Washington, D.C. this week seeking understanding and support for addressing their country’s critical security situation as a result of ethnic and religious based violence.

The group comprised three Christian leaders, both Catholic and Protestant, and three Muslim imams, one of whom is also a traditional ruler in Zamfara state in northwestern Nigeria.

Last Wednesday they briefed international stakeholders on the current state of the security crisis in Nigeria and discussed interfaith action priorities with potential international partners.

Ambassador Sam Brownback, former U.S. Ambassador-at-Large for International Religious Freedom, and chairman of the 2026 International Religious Freedom Summit underscored the urgency of the situation. He told the working group, “If this moment is not wisely used, you could lose the country. I fear this is the road this is starting down without sustainable solutions. You don’t have a lot of time.”

The virtual disappearance of state sovereignty in certain rule areas where armed groups extort taxes, requisition harvests, and hijack local government was a central issue of concern. In addition, estimates of internally displaced people, or IDPs, as a result of armed conflict range from 3.5 to 8 million. Most IDPs are forced to live in hastily assembled refugee camps.

“This should not be possible in 2026,” said Cardinal John Onyaikan, one of the visiting faith leaders.

Nigeria’s fragile security situation had directly affected members of the visiting group. Alhaji Hassan Attihuru, the Emir of Bungudu, in Zamfara state, challenged the idea that kidnappings and killings were targeted on religious grounds. He himself had been kidnapped by members of his own Fulani people who were fellow Muslims.

Rev. John Hayab is a Baptist minister in Kaduna State, and the country Director of Global Peace Foundation Nigeria. Students at a school his church ran were kidnapped and held for ransom. His son was one of a small group that managed to escape into the nearby forest.

The group’s visit to America was a follow-up to the Abuja High-Level Interfaith Dialogue, convened by the Global Peace Foundation Nigeria last December. The meeting produced a blunt statement challenging the federal government to do more to combat the violence.

It also established a Joint Interfaith Advocacy Committee on Freedom of Religion and Belief that agreed to increase peace messaging to affected communities and track progress on reducing incidents of violence.

Attending the dialogue in D.C. from the American side were representatives of the U.S. Commission on International Religious Freedom, Global Impact, Religious Freedom Institute, Alliance Defending Freedom, the U.S. State Department, and American University.

Cardinal Onyaikan told those present, “Our problems are self-inflicted so we need our own solutions. But no nation is an island, so we also need support.”

The dialogue was co-sponsored by the Global Peace Foundation, Religious Freedom Institute, and Pepperdine University.

Summing up the meeting, Fr. Canice Enyiaka, Global Peace Foundation Director of African Peace Initiatives said, “Bringing the experience and insights of faith leaders here to Washington is very important because of the seriousness of the current crisis. Religious faith is a powerful force in Nigeria and I am grateful for all the organizations supporting religious freedom and human rights represented here.”

Yesterday, the Nigerian group met with Rep. Riley Moore (R-WV)who has been vocal about the violence suffered by Christians in Nigeria. He is said to be preparing a report on the security threats to Nigerian Christians for President Trump with options for how the U.S. government should respond.

The visiting group briefed him on the complexities of the situation and the role that interfaith cooperation at the leadership level can play in addressing it. Moore agreed to continue to receive their input after their return to Nigeria.

Feb. 5 (Asia Today) — Artificial intelligence is no longer a distant prospect. It is rapidly advancing into areas once considered uniquely human, including translation, medical diagnosis, law and content creation. With the possibility of human-level general AI now openly discussed, its impact is widely viewed as greater than any previous technological breakthrough.

Optimists foresee a long-awaited utopia. Self-driving cars dominate roads, AI assistants handle household chores and administrative work, doctors deliver more precise care with AI support, and teachers focus on personalized education. Like electricity or the internet, AI is expected to function as a general-purpose technology that raises productivity across the entire economy. Some forecasts suggest it could add about one percentage point to annual productivity growth over the next decade, potentially accelerating research and development and sustaining long-term economic expansion.

History, however, offers a more complex picture. General-purpose technologies often depress productivity in their early stages because firms and workers need time to adapt and reorganize. This so-called productivity J-curve may also apply to AI, as high implementation costs and training requirements delay gains and concentrate benefits among a limited number of firms and industries.

More immediate concerns are emerging in labor markets. Automation is already replacing clerical and repetitive tasks, while mid-skilled jobs are shrinking. As AI evolves from generative models to autonomous agents and physical systems, even highly educated workers may struggle to find stable employment. A small group with advanced AI skills may enjoy rising wages, while many others face job insecurity, raising fears of a society where algorithms dominate and humans are treated as expendable.

The debate over whether AI leads to utopia or dystopia ultimately centers on a single question: will AI replace humans. The answer lies in understanding the fundamental differences between artificial and human intelligence. AI excels at processing vast data and making predictions, but humans interpret context, make judgments under uncertainty and weigh ethics and values. Humans also build trust through empathy, communication and responsibility.

What matters most in the AI era is not intelligence itself but wisdom – the capacity to reflect on purpose, distinguish right from wrong and respect others. Rather than competing with AI, humans must cultivate complementary abilities that guide technology in constructive directions.

The future shaped by the AI revolution remains open. Its outcome depends on whether individuals and societies can develop the knowledge, skills and wisdom suited to this era. Continuous learning is essential, as is education that moves beyond test scores to nurture curiosity, critical thinking, ethics and responsibility.

At the societal level, education systems must shift away from standardized knowledge delivery. As AI handles information retrieval and analysis, priorities should include creativity, problem definition, collaboration and lifelong learning. Universities need closer alignment with labor market needs, while labor systems must become more flexible and competency-based.

Vocational training and retraining are equally urgent. In an age of rapid job transformation, a single education cannot last a lifetime. Governments, businesses and schools must cooperate to support mid-career workers and vulnerable groups. At the same time, governance frameworks ensuring transparency, accountability and fairness in AI use are essential for building public trust.

Artificial intelligence can expand human capabilities rather than replace them. True competitiveness in the AI era will come not from algorithms alone, but from the intellectual synergy created when humans and AI work together. What is needed now is not abstract optimism or fear, but deliberate investment in people.

Lee Jong-hwa is a chair professor of economics at Korea University. The views expressed are the author’s own.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260205010002059

MILAN — History didn’t begin in Italy, but it made a number of significant advances there. The foundations for representative government, the 365-day Julian calendar, modern sanitation, newspapers, roads and the postal system were established in Rome.

Centuries later, the rest of the world is still doing as the Romans do.

But if Rome is Italy’s past, Milan is its present and future.

It is the country’s financial center, home to the Italian stock exchange. It’s the world’s fashion center, home to luxury brands including Prada, Versace, Armani and Dolce & Gabbana. And it has one of the largest concentrations of millionaires in the world, one for every 12 of the city 1.37 million residents.

“It’s a city that’s becoming more global and global,” said Giorgio Ricci, the chief revenue officer for Inter Milan, the city’s top soccer club. “Milano is now a real ambassador of that Italian culture, from lifestyle to design to food and whatever.”

And now, like Rome in the summer of 1960, it also has the Olympic Games.

The Milan-Cortina Games are the first Olympics officially shared between two host cities and the most logistically complex Winter Games ever, taking place over 8,500 square miles of northern Italy. And though most of the medals will be awarded in the surrounding mountains at Cortina d’Ampezzo, Valtellina and Val di Fiemme, Milan will be the beating heart of the Games, much as it is the beating heart of the country.

The main opening ceremony will take place at San Siro, the 75,000-seat stadium that is home to the city’s two first-division soccer teams, Inter Milan and AC Milan. Figure skating, speedskating and men’s and women’s hockey will also be held at four other venues across the city.

San Siro in Milan will host the opening ceremonies for the 2026 Milan-Cortina Winter Olympics.

And that will happen, organizers say, whether the venues are ready or not — and one of them is not. The 11,800-seat Unipol Dome, which will be known as Milano Rho Ice Hockey Arena during the Olympics, is one of just two competition venues that had to be constructed for the Games. It played host to the first games of the women’s hockey tournament Thursday despite the fact that construction crews were still administering the final touch-ups outside the building as Sweden was beating Germany in the opener.

“Do we have every area of that venue finished? No,” said Christophe Dubi, the International Olympic Committee‘s executive director for the Olympic Games said earlier this week. “Is it absolutely necessary for the Games? No. Everything that is public-facing, whether for media or athletes, will be first-class.”

Organizers certainly hope so because there’s a lot riding on these Games. If Milan can pull off an efficient, modern, sustainable and technologically “smart” event, it will reinforce the city’s status as one of the world’s top-tier global capitals, one with financial roots and a trendy multicultural image.

Fail in any one of those categories and Milan could suffer significant financial and reputational damage.

A singer busks late at night in Piazza del Doumo in Milan ahead of the Winter Olympic Games.

(Robert Gauthier / Los Angeles Times)

The competition is expected to draw 2.5 million people to Milan — many of them first-time visitors — while generating more than $7 billion in economic activity. Much of that spending went to upgrade the city’s and regional rail lines, which are expected to be overwhelmed given the spread-out nature of the Games.

Days before the Olympic torch was lit at San Siro, Milan’s Piazza del Duomo, which fronts the city’s elaborate Gothic cathedral, was packed with Olympic visitors, many wearing sweatshirts and jackets bearing the flags of their homelands. NBC will anchor its 700 hours of linear TV coverage from a temporary studio tower built in the square, with the iconic church as its backdrop.

Around the corner along the Via Orefici, which dates to the Middle Ages, many of the neighborhood’s trendy boutiques have hung neon signs with the Games logo, proclaiming themselves proud sponsors of the Olympics. At night, a singer who calls herself Anna Soprano performs a solo street opera.

However many locals have failed to catch Olympic fever with high ticket prices and fears about traffic, security measures and crowded Metro trains dampening enthusiasm.

An opera singer performs in Milan ahead of the 2026 Winter Olympics.

Buried beneath Milan’s rush to the modern from the Middle Ages — just beyond the Duomo Cathedral, which was begun in 1386, is the massive 15th Century Sforza Castle — lies a more recent history the city would just as soon forget. Milan was Italy’s Munich, the birthplace of Benito Mussolini’s fascist movement.

Yet it later became the center of anti-fascist resistance, with partisans seizing control of the city in the final days of World War II and executing Mussolini, hanging his corpse from the roof of an Esso station in the Piazzale Loreto. Milan marked that day by naming a prominent square in the city’s center April 25 Plaza for the day the uprising that liberated Milan began.

If Milan is modern Europe, some of the competition clusters outside the city, spread from Valtellina on the Swiss border in the north to Cortina d’Ampezzo, 27 miles south of the Austrian border, represent both the rustic and gentrifying Italy.

The scenic Fiemme Valley, site of cross-country skiing, ski jumping, and Nordic combined , is made up primarily of three small villages — Carano, Daiano and Varena — in the Dolomites mountain range. Despite a history of human activity that dates back more than 6,000 years, the area wasn’t officially established as the municipality of Val di Fiemme until the three townships merged in January 2020.

Today it is a major outdoor-sports destination, having played host to the FIS Nordic World Ski championship numerous times; in the summer it is a favored destination of hikers.

Valtellina, a 75-mile-long valley that runs along the Swiss border, will be the site of Alpine skiing, snowboarding, freestyle skiing and the debut sport of ski mountaineering. The region is known as the heart of the Alps and is a premier Alpine wine area, famous for the elegant reds that come from grapes grown on steep, terraced vineyards.

Cortina d’Ampezzo in northern Italy will host multiple events during the 2026 Olympics.

Cortina d’Ampezzo, meanwhile, is a breathtakingly beautiful ski resort and outdoor sports paradise about 35 miles from the Austrian border. Unlike Valtellina and Val di Fiemme, which are rustic and traditional, Cortina is one of Europe’s most expensive ski towns, its streets lined with high-end stores, luxury hotels and Michelin-starred restaurants. For year-round residents, property prices are the highest in the Italian Alps.

It was scheduled to host the 1944 Winter Olympics before World War II intervened, delaying the its arrival until 1956, when 32 nations — the largest to attend a Winter Games at the time — competed in four sports and 24 events. This month it will be the site of the biathlon, Alpine skiing, curling and sliding sports (bobsled, luge and skeleton).

The new $140-million Cortina Sliding Centre, the second Olympic venue whose construction fell well behind schedule, was completed days before the opening ceremony but a cable car intended to carry spectators to the women’s ski events was not expected to be finished in time. That could lead to traffic jams since visitors will have to take their cars more than a mile up the mountain.

Feb. 5 (Asia Today) — South Korea’s Board of Audit and Inspection said Thursday it will begin a first-half audit of public institutions’ asset management, including the sale of broadcaster YTN, amid allegations that some state-linked assets were disposed of at below-market prices.

The audit agency released its 2026 annual plan and said it will focus on high-risk areas tied to financial soundness, including large public-sector projects, asset sales and the operations of overseas offices.

A Board of Audit and Inspection official said the agency will conduct a comprehensive review of cases in which assets were sold or leased at low prices without sufficient valuation, citing claims that public institution assets, including YTN, were subject to “fire-sale” pricing.

YTN became the center of controversy in October 2023 over allegations of forced privatization and a rushed or preferential sale after a 30.95% stake held by KEPCO KDN and the Korea Racing Authority was transferred to the Eugene Group, according to the report.

President Lee Jae-myung ordered ministries in November 2025 to halt and reexamine state asset sales, the report said.

The audit plan also includes reviews described as “visible to the public,” covering illegal drug customs clearance management, defect handling in multi-unit housing and the operation of information security certification systems.

In addition, the agency said it will conduct “innovation support audits” in new technology areas such as artificial intelligence and research and development. The plan also calls for an audit of relaxation facilities, including a cypress sauna and a bedroom, installed at the Yongsan presidential office during former President Yoon Suk Yeol’s tenure, according to the report.

An audit agency official said the board will aim to drive institutional changes that the public can feel.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260206010002246

A senior South Korean official said Thursday that he anticipates “some new progress in a few days” regarding North Korea-related issues, but he noted it is not about the resumption of dialogue between Washington and Pyongyang.

The official made the remarks during a meeting with reporters in Washington amid speculation that U.S. President Donald Trump could seek a meeting with North Korean leader Kim Jong-un when he visits China in April.

“There may be some new progress in a few days. It is not anything significant, but it is intended as a gesture of goodwill that can serve as a starting point (for progress in diplomacy with North Korea),” the official said.

“It doesn’t go as far as dialogue between the U.S. and North Korea,” he added.

He also pointed out North Korea’s lack of interest in diplomacy with Seoul or Washington.

“So we need to wait and see,” he said.

Both South Korea and the U.S. have expressed their desire to reengage with North Korea. But it remains uncertain whether Pyongyang would accede to dialogue overtures at a time when it has deepened cooperation with Russia and China to address its economic and other needs.

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SEOUL, Feb. 6 (UPI) — U.S. President Donald Trump gave his “total endorsement” of Japanese Prime Minister Sanae Takaichi ahead of a snap election in her country on Sunday and announced plans to meet with her at the White House on March 19.

Takaichi “deserves powerful recognition for the job she and her Coalition are doing,” Trump wrote on his Truth Social platform Thursday. “Therefore, as President of the United States of America, it is my Honor to give a Complete and Total Endorsement of her, and what her highly respected Coalition is representing.”

“SHE WILL NOT LET THE PEOPLE OF JAPAN DOWN!” he added.

Takaichi dissolved the lower house of parliament on Jan. 23, triggering a snap election set for Sunday. The 64-year-old hardline conservative leader and her ruling Liberal Democratic Party, or LDP, appear headed for a strong showing, according to a poll released Monday by the Asahi Shimbun daily.

The survey suggested the LDP is on track to secure an outright majority in the 465-member chamber. Along with its junior partner, the Japan Innovation Party, the coalition could capture around 300 seats, the poll indicated — well above the razor-thin majority it currently holds.

Such a result would strengthen Takaichi’s hand as she seeks to cement her leadership within the party and press ahead with her policy agenda.

In the 12-day campaign period ahead of the election, Takaichi has focused on economic measures to help households squeezed by rising prices.

She has floated the idea of temporarily suspending the consumption tax on food and expanding fiscal stimulus, while calling for increased public investment in strategic industries such as semiconductors and artificial intelligence as part of a broader growth strategy. Debate has also touched on foreign workers, tourism management and Tokyo’s security posture amid heightened tensions with China.

Takaichi is Japan’s first female prime minister. She took office late last year after winning a leadership contest within the LDP following the resignation of former Prime Minister Fumio Kishida, whose approval ratings had cratered amid high inflation and a wide-ranging slush fund scandal.

A former heavy metal drummer, Takaichi has brought a populist flair to Japan’s typically staid political establishment. Her social media savvy has made her a surprising favorite among younger voters, as her personal approval ratings run far ahead of the broader LDP.

Direct endorsements by sitting U.S. presidents in foreign elections are unusual, although Trump has previously voiced support for conservative leaders abroad, including Argentine President Javier Milei last year. On Thursday, he also endorsed Hungarian Prime Minister Viktor Orban in an April vote.

Trump and Takaichi met in October during his visit to Japan, just a week after she took office. The two reached agreements on trade and rare earth minerals, with Takaichi heralding a “new golden era” in bilateral ties.

Trump’s endorsement comes amid an ongoing rift between Tokyo and Beijing over comments Takaichi made in November, when she said a Chinese attempt to blockade or seize Taiwan could trigger a military response under Japan’s security laws.

During a phone call with Trump on Wednesday, Chinese President Xi Jinping said Taiwan was “the most pressing issue” in their relationship, reiterating Beijing’s claim that the self-governing democratic island is “China’s territory.”

Japan’s Deputy Chief Cabinet Secretary Kei Sato confirmed Friday that Trump had extended the March 19 invitation.

“Amid a turbulent international environment, we will reaffirm the unshakable unity between Japan and the United States with President Trump, further advance cooperation in diplomacy, economic and security fields, and open a new chapter in the alliance,” Sato said at a regular press briefing. “We will make thorough preparations to ensure the visit is meaningful.”

Feb. 5 (Asia Today) — K Bank has lowered its proposed offering price as it makes a third attempt at an initial public offering, betting that a stronger stock market and a deeper discount will help it clear investor demand.

According to the financial investment industry, K Bank is offering 60 million shares with a target fundraising range of 498 billion to 570 billion won (about $373 million to $427 million). The proposed price band of 8,300 to 9,500 won represents a 20.83% cut from the 12,000-won upper limit floated during its failed 2024 IPO attempt.

Lee Jun-hyung, the company’s chief financial officer, said the price was set at about a 20% discount and is “20% to 30% lower than peers such as Kakao Bank and Japan’s Rakuten Bank.”

Market attention is focused on whether K Bank can secure sufficient institutional demand this time. The book-building process, which began Tuesday, runs through Monday. Industry officials noted that participation often concentrates on the final day, making it too early to judge the outcome.

If listed, K Bank plans to accelerate a non-interest income strategy centered on small businesses, platform services and digital assets. At an IPO press conference in Seoul, Chief Executive Officer Choi Woo-hyung said the bank aims to expand its retail base and open ecosystem while broadening its portfolio to include sole proprietors and small and medium-sized companies.

Choi also said the lender is preparing for future stablecoin-related business, citing its ongoing partnership with Upbit and internal development of blockchain technology, including patent filings.

Following a successful listing, K Bank plans to enhance shareholder returns. Choi said the bank is targeting a return on equity above 15% and will consider dividends or treasury share buybacks once it achieves a sustained double-digit ROE.

The IPO is being led by NH Investment & Securities and Samsung Securities, with Shinhan Investment Corporation participating in the underwriting syndicate. The listing is scheduled for March 5.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260205010002198

Feb. 5 (Asia Today) — South Korean fashion platform Musinsa said Thursday that more than 2,000 people applied during the document submission stage of its open recruitment for “AI-native” entry-level developers.

Musinsa said the hiring drive, launched last month, will move into its full selection process this month. The company plans to introduce an AI-based evaluation method in second-round interviews, where practical skills are a key focus.

Musinsa said the process will use technology from global artificial intelligence company OpenAI to assess applicants’ problem-solving ability. Candidates who advance to interviews will be provided access to the AI coding agent Codex and asked to complete assignments designed to simulate real working conditions.

Applicants will be allowed to use a range of tools, including AI, rather than being restricted to specific software, Musinsa said. The company said it aims to evaluate “AI-native” capabilities, defined as the ability to integrate AI into practical work, not just coding proficiency.

Musinsa said the evaluation will run through its in-house AI assessment system and will focus on fairness and objectivity. The company said it is also considering expanding the use of OpenAI technology across its operations after the recruitment process.

A Musinsa official said the number of applicants reflects strong market interest in AI-native developers and that evaluating problem-solving with AI tools will be central to identifying the talent the company is seeking.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260205010002239

Feb. 5 (Asia Today) — Business leaders, academics and policymakers gathering in Seoul agreed Thursday that South Korea’s push to become an artificial intelligence powerhouse will require a broad, system-wide response extending well beyond technological development.

The fourth Korea CEO Forum, hosted by the Korea Employers Federation, was held at the Westin Chosun Hotel under the theme “The AI Era: New Opportunities and Challenges.” The event drew large attendance from industry, academia and government, reflecting growing concern over how Korean industries should prepare for an AI-centered economic structure.

Participants repeatedly raised a central question: how Korea should respond strategically as industries move beyond the Fourth Industrial Revolution toward an AI-driven paradigm. Speakers argued that becoming an AI leader will require coordinated changes across politics, the economy, society and culture.

Opening the forum, Sohn Kyung-shik, chairman of the Korea Federation of Business Associations, underscored the need for long-term competitiveness. The first keynote was delivered by Kim Dae-sik, a professor of electrical engineering at Korea Advanced Institute of Science and Technology, who spoke on “The Era of AGI Market Dominance.”

Kim said advances in artificial intelligence will reshape not only productivity but also human thinking and decision-making, calling for education and industrial policies that can keep pace with the speed of technological change.

The forum’s highlight presentation came from Hyun Dong-jin, head of the robotics lab at Hyundai Motor Group, who outlined the expansion of human-centered AI robotics. He said the convergence of AI and robotics is transforming manufacturing and service industries, with collaborative robots and automation emerging as key competitive factors.

Hyun emphasized that robotics should complement human labor rather than replace it. He introduced the wearable robot “X-Schroder,” which adjusts assistive force based on a user’s posture, and “MobED,” an autonomous mobile platform under development. He noted that while robotic autonomy shares core elements with self-driving vehicles, robots must operate safely in spaces shared directly with humans.

Geopolitical and strategic dimensions of AI were also discussed. Kang Jun-young, a professor at Hankuk University of Foreign Studies, analyzed the impact of U.S.-China technological rivalry on global supply chains, arguing that AI leadership is increasingly intertwined with diplomacy and national security.

The forum extended beyond industry to health and demographics. Yoo Tae-woo, director of the Dr. U Together Center, discussed how AI could transform healthcare and lifestyle management in a super-aged society, stressing prevention-focused approaches to physical and mental health.

An industry participant said AI is no longer an issue limited to specific sectors but a determinant of national competitiveness, adding that AI-driven robotics will be a core pillar of future manufacturing innovation.

Participants concluded that the AI era demands a multilayered strategy encompassing talent development, industrial ecosystem building and global cooperation, alongside technological advancement.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

One question has bothered Martin Ludlow in his decades as a concert and event promoter in Los Angeles. In a city packed with excellent jazz musicians, and a century of history with the genre, why is there no local equivalent of the massive festivals that cities like Montreal, New Orleans or Montreux, Switzerland, have built? One where the music transforms clubs, restaurants and parks across the city for nights on end?

This summer’s inaugural LA Jazz Festival in August will be the biggest push in a generation to build that here. Ludlow’s event — which melds his passion for jazz with the logistics muscle of his former life as a city councilman and labor leader — hopes to draw 250,000 fans across the city for a month of concerts culminating in a stadium-sized show on Dockweiler Beach. It will be one of the largest such events in the world, and the biggest Black-owned fest of its kind.

“This festival is intended to lift up our ancestors that came to this country in bondage, terrorized, brutalized,” Ludlow said outside City Hall on Wednesday. “It’s also about celebrating the end to those last bastions of Jim Crow racism, the days we were denied access to public drinking fountains, public swimming pools and public beaches. From the beginning of this journey, we’ve been very intentional about telling the narrative of that human rights struggle called Jazz.”

Flanked by Mayor Karen Bass, City Council members Heather Hutt, Traci Park and Tim McOsker, and jazz figures including Ray Charles Jr. and Pete Escovedo, Ludlow promised a galvanizing occasion for L.A.’s local jazz scene and the city’s wobbly tourism economy. That jazz scene has welcomed new investments like Blue Note L.A., and lamented beloved clubs like ETA closing.

This festival, however, hopes to be more on a scale with forthcoming mega-events such as the World Cup and the Olympics. The 25-day event in August will sprawl all over the region, with free park concerts in all 15 council districts, and 150 late-night shows at clubs and restaurants across the city. A Caribbean street fair highlighting the African and Latin roots of jazz will hit El Segundo, along with guided tours of historic Black coastal sites like Bruce’s Beach and Inkwell beach.

The fest culminates in a two-day concert on Dockweiler Beach that hopes to draw 40,000 fans a night. While a lineup is still in progress, the scope of Ludlow’s ambition is formidable — the fest will ban fossil fuels from its footprint, and earned a strong vouch from the California Coastal Commission. For decades, the Playboy Jazz Festival (now the Hollywood Bowl Jazz Festival) was the defining event for the music in Los Angeles; this could eclipse it several times over.

“Martin, I’ve been on this 15-year journey with you. Through all of the ups and downs, I’m so excited this is the year,” Mayor Bass said at Wednesday’s event at City Hall debuting the festival. “This is the Los Angeles that will welcome the world. One of the best things we have to offer is all of our culture.”

Ludlow is a colorful figure in Los Angeles politics, a former council member and L.A. County Federation of Labor executive who pleaded guilty to misappropriating funds in 2006. He’s since delved deep into community activism and embarked on a successful third act as a concert and event promoter, throwing socially-conscious events with his firm Bridge Street, which has produced shows for Stevie Wonder, The Revolution, Sheila E and Snoop Dogg along with civic events like the ceremony renaming Obama Boulevard in Los Angeles.

“During this journey, you can only imagine there’s a lot of highs and a lot of lows,” Ludlow said. “When you have those lows, you want a friend that really can lift you up.” He had plenty of them onstage with him Wednesday announcing what could be a new flagship event for jazz in Los Angeles.

SEOUL, Feb. 5 (UPI) — South Korean radar solution company bitsensing said Thursday it launched an aftermarket advanced driver assistance system kit that can be installed in existing commercial vehicles.

The company said that the kit, which is composed of radar sensors and cameras, would enhance safety and driving awareness by providing real-time alerts for collision risk and blind-spot hazards.

bitsensing is targeting commercial vehicles such as buses and trucks, which the firm claims are more prone to road accidents due to longer braking distances and larger blind spots compared to passenger cars.

Commercial vehicles account for 14% of all fatal road crashes in the European Union and 9% in the United States, according to data from transportation authorities in those regions.

The Korean company said that it has been conducting pilot tests of the new product since November in partnership with Koreawide Express Group, the country’s bus operator.

Under the collaboration, bitsensing’s driver assistance kits were installed across Koreawide’s fleet of intercity and city buses in real-world road environments, with plans to expand deployment to more than 500 buses.

“Commercial vehicles operate in some of the most demanding road environments, yet many fleets still lack access to modern driver warning systems,” bitsensing CEO Lee Jae-eun said in a statement.

“The ADAS kit was developed to close that gap, delivering a complete, system-level ADAS solution that can be deployed on existing vehicles without redesigning the vehicle platform,” he added.

Observers point out that aftermarket safety systems continue to gain traction as fleet operators seek cost-effective ways to upgrade older vehicles.

“Newer commercial vehicles tend to be equipped with advanced safety features, but many conventional vehicles lack such systems, making them more vulnerable to accidents,” Daelim College automotive professor Kim Pil-soo told UPI.

“To deal with such problems, aftermarket solutions are necessary to help commercial vehicles navigate increasingly complex urban driving environments more safely,” he said.

Kim said he expects an increasing number of ADAS kits to compete in the market, including LiDAR sensor-free solutions, such as bitsensing’s products that can be competitively priced.

Short for Light Detection and Ranging, LiDAR is a costly sensing technology that enables vehicles to perceive their surroundings in three dimensions with very high precision.

The Dodgers will make a return trip to the White House in recognition of their latest World Series title.

President Trump is planning to host the team but no date has been set for the ceremony, a White House official confirmed Thursday morning.

The Dodgers went to the White House following their two previous World Series championships, being hosted by President Biden in 2021 and President Trump last April.

A Dodgers spokesman declined comment Thursday.

Questions swirled around whether players would decline to go ahead of last year’s visit. Kiké Hernández said in 2018 he was unsure he would have done had the Dodgers won the World Series the previous year. Mookie Betts said he was undecided and needed to talk it over with his family first when last year’s visit was initially announced. After winning his first World Series with the Red Sox in 2018, Betts skipped their trip to the White House the following year during Trump’s first term.

Both players ended up going in 2025.

Manager Dave Roberts, who indicated in comments to The Times in 2019 he might not go to the White House if Trump was president, also participated in last year’s ceremony.

When asked at last weekend’s Dodgers’ fan festival about the possibility of returning to the White House this year, Roberts told The Times’ Bill Shaikin: “For me, I stand by: I’m a baseball manager. That’s my job.

“I was raised — by a man who served our country for 30 years — to respect the highest office in our country. For me, it doesn’t matter who is in the office, I’m going to go to the White House. I’ve never tried to be political. … For me, I am going to continue to try to do what tradition says and not try to make political statements, because I am not a politician.”

Though no date has been set for this year’s White House visit, the Dodgers will play the Nationals in a three-game series April 3-5, with an off day on April 2 following a six-game homestand to open the season.

Feb. 5 (UPI) — Though still awaiting Senate confirmation, Jennifer Wicks McNamara is preparing to land in Hanoi not with a ceremonial bouquet, but with a tariff ledger in hand instead.

The ambassador-designate steps into a newly minted “comprehensive strategic partnership” now defined less by warship visits and more by a $144 billion trade gap, market-economy disputes and rising economic friction between Washington and one of its most pivotal Asian partners.

Her posting follows the Trump administration’s unusual mass recall of career diplomats, a move that rattled U.S. embassies worldwide and signaled the White House impatience with the slow, methodical pace of traditional diplomacy.

McNamara’s mandate appears blunt: recalibrate a relationship the administration views as fundamentally lopsided. While security cooperation has expanded in response to shared concerns over China’s maritime pressure in the South China Sea, trade has become the gravitational center of U.S.-Vietnam relations — and it is pulling both sides toward confrontation even as they speak of partnership.

At her December confirmation hearing, McNamara adopted a notably hard line. She told the Senate Foreign Relations Committee that the trade relationship is “imbalanced” and pledged to press for “equitable market access” for U.S. goods and services.

The phrasing echoed the administration’s “America First” doctrine, which treats tariffs not as economic distortions, but as instruments of leverage — diplomatic tools by other means.

“In my view, this rhetoric reflects McNamara’s political calculations and a sober recognition that she had better adapt to the administration she is being nominated to serve in order to succeed in her post,” said Hunter Marston, a foreign policy analyst at the Center For Strategic &International Studies Southeast Asia Program.

Marston said he believes this single-minded attention to the trade dispute risks eroding trust upending the extraordinary progress in bilateral relations which brought the United States and Vietnam to the level of a Comprehensive Strategic Partnership under the Biden administration.

That philosophy is already in motion. Since August, most Vietnamese exports have faced a 20% tariff, with a 40% duty imposed on goods deemed to be transshipped from third countries such as China.

U.S. officials describe these measures as necessary to prevent Vietnam from becoming a backdoor for Chinese manufacturing, but in Hanoi, they are widely seen as collective punishment that risks undermining two decades of economic integration.

Yet, the coercive power of tariffs has, so far, produced little correction. Vietnam’s trade surplus with the United States surged to $144.2 billion between January and October 2025, at times rivaling — and even surpassing — China’s surplus in key sectors such as electronics, textiles and consumer goods.

The data suggest that U.S. demand for Vietnamese production remains stubbornly inelastic, a reflection of deeply embedded supply chains that cannot be easily rerouted.

“Vietnam and the U.S. will have to navigate the trade issue to propel the relationship forward,” said Khang Vu, a visiting scholar in the Political Science Department at Boston College.

For McNamara, the test will be whether she can translate tough rhetoric into tangible changes in market access, investment rules and industrial policy, or whether she will preside over a continuing cycle of tariffs, retaliation and rhetorical sparring that leaves the underlying imbalance largely intact.

“Jennifer Wicks is a very senior and respected official within the State Department. U.S. tariff policies have been central to the U.S.-Vietnam relations since President Trump announced tariffs last April, so [she] will likely continue efforts to complete a U.S.-Vietnam trade agreement,” said Ambassador Brian McFeeters, president & CEO of the US-ASEAN Business Council.

At the core of the dispute lies Vietnam’s designation as a “non-market economy” by the U.S. Department of Commerce. That label allows Washington to calculate anti-dumping duties using surrogate prices from third countries — often higher-cost economies, such as Bangladesh or India — that inflates the “fair value” of Vietnamese shrimp, furniture and steel in the American market.

Hanoi has long argued that the classification is outdated and politically motivated. In September 2023, Vietnam formally requested a review of its status, pointing to reforms in pricing, competition policy and state enterprise governance.

But in August 2024, Commerce reaffirmed the non-market economy designation, citing continued “significant government involvement” in the economy despite acknowledging “substantive reforms.”

McNamara steps into an escalating legal and diplomatic standoff. While Hanoi has floated concessions on U.S. autos, medical devices and farm goods, Washington has made clear that limited tariff adjustments are not enough. Commerce Secretary Howard Lutnick has called for broader structural reforms that would steer Vietnam toward a more market-driven system – a demand that challenges the core of its state-led economic model.

For Vietnam, shedding the non-market ecomony label is a matter of prestige and a multibillion-dollar economic imperative.

In practical terms, U.S. officials are expected to press Hanoi on several politically sensitive fronts. Currency policy is emerging as another point of tension. The officials question Vietnam’s management of the dong, citing limited convertibility and opaque reserve practices they say bolster export competitiveness.

Labor policy presents another fault line. A key metric for market economy status is whether wages are determined by free bargaining between independent unions and employers.

While Vietnam has introduced a revised Labor Code that allows more space for worker representation, U.S. officials question whether unions are truly independent from the ruling Communist Party. McNamara will almost certainly raise these concerns, even as Hanoi insists its model is evolving.

Equally contentious is the role of state-owned enterprises, which dominate sectors such as energy, telecommunications and transportation. Washington is likely to demand a faster pace of “equitization” — Vietnam’s term for partial privatization — along with tighter limits on state-backed financing.

U.S. negotiators also argue that government controls over land and energy prices distort production costs, giving Vietnamese manufacturers an unfair advantage. Addressing this would require Hanoi to relinquish a degree of control over core economic inputs — a politically fraught move that could unsettle domestic constituencies and state-linked elites.

Aware of the stakes, Vietnam appears to be preparing its own strategy: concessions rather than confrontation.

Diplomats in Hanoi say officials are preparing limited market-opening steps to ease pressure from Washington without reshaping Vietnam’s state-led economy. The measures could include selective tariff cuts and increased purchases of U.S. goods, offering visible trade concessions, while leaving core political and economic structures intact.

Vietnam is weighing major purchases of U.S. liquefied natural gas as it expands energy capacity to fuel industrial growth. Long-term LNG deals worth billions could help narrow the trade gap with Washington, while tying Hanoi more closely to U.S. energy supplies.

Agriculture could become another friction point. Vietnam enforces strict health standards on U.S. pork, poultry and grain imports, citing food safety concerns. McNamara is expected to press for science-based regulatory changes to expand access for American farm exports – a sensitive issue in a country where small farmers wield political influence.

Aviation is emerging as a highly visible battleground. Vietnam Airlines, VietJet and Bamboo Airways are all in the midst of fleet expansions. U.S. officials are keen for these multibillion-dollar orders to go to Boeing rather than European manufacturers, viewing aircraft sales as a concrete way to offset the trade deficit and demonstrate goodwill.

If Vietnam resists deeper reforms, it risks entrenching itself under punitive U.S. trade barriers that could discourage investment and slow export growth. If it moves too far, too fast, it could destabilize its own state-led development model and alienate domestic power centers that benefit from the current system.

For Hanoi, the challenge is even more delicate: proving it can behave like a market economy while remaining a one-party state — a contradiction that Washington is now probing with far sharper tools than before.

How McNamara navigates this dilemma will not only shape her legacy in Hanoi, but could redefine the future trajectory of U.S.-Vietnam relations in an era in which geopolitics and geo-economics are increasingly inseparable.

The defense ministry has proposed to the United States that South Korea’s military jointly manage parts of the southern half of the heavily fortified Demilitarized Zone (DMZ) separating the two Koreas, a source said Thursday.

The proposal came as the South Korean government aims to secure control of civilian access to the 250-kilometer-long, 4-km-wide stretch of the DMZ. Currently, the U.S.-led U.N. Command (UNC) administers the military buffer zone as the south-side enforcer of the armistice that ended the 1950-53 Korean War.

Amid the UNC’s outright objection to Seoul’s move, the defense ministry proposed a measure under which South Korea’s military oversees entry to parts of areas located south of the barbed-wire fence within the DMZ.

The South’s fence technically runs alongside the southern boundary of the DMZ, or the Southern Limit Line (SLL), located 2 km south of the Military Demarcation Line, the inter-Korean border.

But parts of the fence were installed north of the SLL to overcome geographic limitations for surveillance operations. The size of the area is known to account for roughly 30 percent of the southern half of the DMZ.

In addition to making the request to the UNC, the ministry also seeks to include the issue as an agenda item in bilateral defense talks, such as the Korea-U.S. Integrated Defense Dialogue and the Security Consultative Meeting, the source said.

The issue of DMZ access control has come into the spotlight since Unification Minister Chung Dong-young voiced his support for pending bills seeking to grant the South Korean government control of nonmilitary access to the DMZ.

Chung has also vowed to restore three sectors of the DMZ Peace Trail, which are situated within the DMZ, as part of the Lee Jae Myung government’s push to restore inter-Korean trust.

The UNC has voiced strong opposition against the pending bills, saying they are “completely at odds” with the armistice agreement.

“If the legislation passes, a rational, logical, legal interpretation is that the ROK government has removed itself from the armistice and is no longer bound by it,” a UNC official told reporters last month, referring to South Korea by the acronym of its formal name, the Republic of Korea.

In a rare statement issued in December, the UNC also stressed that it has been the “successful administrator” of the DMZ since 1953 to ensure that “military and civilian movements within the DMZ and other activities uphold the terms and the spirit of the armistice in the interest of stability.”

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Feb. 5 (UPI) — Chinese leader Xi Jinping and U.S. President Donald Trump had a lengthy, far-reaching telephone conversation on Wednesday, in which the Asian leader warned his American counterpart that “the Taiwan question” was the most pressing issue in their countries’ relationship.

The self-governing, democratic island has increasingly become a focal point in U.S.-China relations amid growing concerns about an eventual Beijing invasion that have only been amplified since the Trump administration’s military operation last month in Venezuela that removed its authoritarian leader, Nicolas Madura.

Both Xi and Trump confirmed the Wednesday call, with the U.S. leader describing the conversation in a statement on his Truth Social platform as “excellent” and his relations with the Chinese head as “an extremely good one.”

He said they discussed the military, trade, the situation in Iran and the Russia-Ukraine war as well as Beijing considering buying U.S. agricultural products, including soybeans, which have been a sticking point for American farms. According to Trump, Beijing is considering increasing its U.S. soybean imports to 20 million metric tons.

A readout of the call from China’s foreign ministry made no mention of soybeans, but emphasized its claim to Taiwan in direct terms.

According to the ministry, Xi told Trump “the Taiwan question is the most important issue in China-U.S. relations.”

“Taiwan is China’s territory. China must safeguard its own sovereignty and territorial integrity and will never allow Taiwan to be separated,” Xi said, according to the ministry.

Despite Taiwan never having been part of the People’s Republic of China, which was founded in 1949, Beijing claims sovereignty over the island of some 23 million people under its One China policy. China views Taiwan as a rogue province that it has vowed to take by force if necessary.

The United States formally recognizes China’s claim to Taiwan, but maintains informal relations with Taipei, which has grown deeper over the last few years amid the Chinese threat of invasion.

Washington sells weapons to Taiwan. In December, the U.S. Congress approved a massive $11.1 billion arms deal with Taiwan, the largest ever between their two governments.

A Chinese foreign ministry spokesperson sternly rebuked the arms deal in a statement that announced sanctions against 20 American military-related companies and 10 senior executives who have participated in arming Taiwan while warning that “anyone who attempts to cross the line and make provocations on the Taiwan question will be met with China’s firm response.”

The readout of the Xi-Trump call on Wednesday warned that “the U.S. must handle the issue of arms sales to Taiwan with prudence.”

According to Beijing, Trump told Xi that he understands how China feels about Taiwan.

Taiwan was only mentioned by Trump in a list of the “many important subjects” he discussed with Xi.

Trump is to visit Xi in Beijing in April.

Worries about a potential Chinese move against Taiwan have increased in recent weeks following the U.S. military abduction of Maduro, which some have suggested could be used by Beijing to support its claims to Taiwan.

In an interview with The New York Times last month, Trump, pressed on the issue, disregarded the comparison, stating China isn’t experiencing the same threat from Taiwan that the United States faced from Venezuela.

“It’s a source of pride for him. He considers it to be a part of China, and that’s up to him, what he’s going to be doing. But, you know, I’ve expressed to him that I would be very unhappy if he did that, and I don’t think he’ll do that. I hope he doesn’t,” he said.

Asked if he set a precedent with the military action in Venezuela, Trump replied: “He may do it after we have a different president, but I don’t think he’s going to do it with me as president.”

SEOUL, Feb. 5 (UPI) — South Korea will seek closer cooperation with China to stabilize supplies of rare earth minerals critical to its high-tech industries, the government said Thursday, as Seoul unveiled a strategy to strengthen supply chain security.

The Ministry of Trade, Industry and Resources announced a comprehensive plan calling for expanded cooperation channels with Beijing, including the establishment of a government-to-government hotline and joint consultative body to help prevent supply disruptions.

The initiative comes as South Korea, one of the world’s top high-tech exporters, remains heavily reliant on imported raw materials essential to manufacturing.

“South Korea has developed advanced industries such as semiconductors, electric vehicles and batteries, but as a resource-importing country, we face many challenges in managing supply chains,” Industry Minister Kim Jung-kwan said during a visit to a rare earth magnet manufacturer in Daegu.

“Our national competitiveness depends on industrial resource security, and the government will focus its policy capabilities on building a resilient industrial structure that is not shaken by external changes,” he said.

Rare earth elements — a group of 17 metals used in components such as permanent magnets, electric motors and advanced electronics — are widely considered vital to next-generation manufacturing. China’s dominance of rare earth processing and refining has left global manufacturers vulnerable to export controls and geopolitical tensions.

Under the plan, South Korea will designate all 17 rare earth elements as core strategic minerals and create new customs classification codes to improve monitoring and demand forecasting.

Seoul also aims to expand domestic production and recycling capacity through regulatory reforms and subsidies for new facilities, while creating a dedicated rare earth research and development fund under an existing industrial innovation investment program.

To support overseas supply diversification, the government will increase policy loans for overseas resource development to $46.2 million this year, up from $26.6 million in 2025, while expanding the state financing coverage ratio to 70% from 50%, the ministry said.

Beyond China, South Korea said it will pursue supply partnerships with countries including Vietnam and Laos as part of efforts to diversify procurement channels and reduce reliance on any single supplier.

The announcement comes a day after South Korea was tapped to chair Washington’s Forum on Resource Geostrategic Engagement, or FORGE, a U.S.-led framework aimed at strengthening supply chain resilience among allied economies for critical minerals and emerging technologies.

‘There should be no politics in sport,’ Sharif said while referencing to the recent India-Bangladesh cricket crisis.

Prime Minister Shehbaz Sharif has confirmed the decision to boycott the ICC Men’s Twenty20 World Cup match by Pakistan against India, saying the move is a show of solidarity with Bangladesh.

“We have taken this stand after careful deliberation and [decided that] on this matter, we must stand with Bangladesh and support them,” Sharif told his cabinet on Wednesday.

On Sunday, the Pakistani government announced that its men’s cricket team will not take the field in the match against archrivals India on February 15, without stating the reason behind the decision at the time.

However, it was largely believed to be a mark of protest against Bangladesh’s ouster from the tournament for refusing to travel to India for their T20 World Cup fixtures.

Sharif’s statement, made in a televised address, rubber-stamped the motive and confirmed the boycott.

“We have taken a very clear stand that we will not play the match against India,” Sharif told the government officials. “Pakistan believes that this is sport, not politics, and there should be no politics in sport.”

While Sharif did not elaborate on his statement, it points towards the ongoing cricket crisis surrounding the tournament, which began after a Bangladeshi player was expelled from the Indian Premier League on the directives of the Board of Control for Cricket in India (BCCI) last month.

Mustafizur Rahman’s removal was linked to political tensions between Bangladesh and India, as confirmed by BCCI Secretary Devajit Saikia, and led to a chain of events, including the boycott by Pakistan.

India and Pakistan are placed in the same group and were scheduled to meet in a marquee clash in Sri Lanka, which is cohosting the tournament along with India.

Following Pakistan’s announcement, the International Cricket Council (ICC) said in a statement that “selective participation undermines the spirit and sanctity of the competitions”.

“While the ICC respects the roles of governments in matters of national policy, this decision is not in the interest of the global game or the welfare of fans worldwide, including millions in Pakistan,” it said, adding that it awaited official communication from the Pakistan Cricket Board (PCB).

“The ICC hopes that the PCB will consider the significant and long-term implications for cricket in its own country as this is likely to impact the global cricket ecosystem, which it is itself a member and beneficiary of.”

While the boycott by Pakistan could see them forfeit two points, it remains unclear if the PCB will be hit by further sanctions or bans.

The T20 World Cup begins on Saturday.

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

© Asia Today. Unauthorized reproduction or redistribution prohibited.

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

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

© Asia Today. Unauthorized reproduction or redistribution prohibited.

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

Feb. 4 (Asia Today) — Kakao Bank posted record earnings last year as growth in non-interest income offset pressure on lending revenue caused by tighter household loan regulations, the company said Tuesday.

The internet-only bank said net profit for 2025 reached 480.3 billion won ($348.6 million), up 9.1% from a year earlier. Fourth-quarter net profit rose 24.5% year over year to 105.2 billion won ($76.3 million), marking the first time quarterly earnings topped 100 billion won.

The results exceeded market expectations despite stricter government oversight of household lending in the second half of the year, which forced Kakao Bank to cut its loan growth target by half.

Interest income, still the bank’s largest revenue source, fell under regulatory pressure. Loan interest income declined 2.9% to 1.99 trillion won ($1.45 billion) from 2.05 trillion won ($1.49 billion) in 2024.

By contrast, non-interest income – including fees, platform revenue and fund management gains – jumped 22.5% to 1.08 trillion won ($790.6 million), surpassing 1 trillion won for the first time. Non-interest income accounted for 35.3% of total operating income, up about 5 percentage points from a year earlier.

Fund management performance was a major contributor. Kakao Bank said profits from the segment climbed about 28% to 670.8 billion won ($487.2 million), aided by expanded bond purchases in a high-interest-rate environment and a more diversified investment strategy.

Fee and platform revenue also continued to rise. Despite lower merchant fees for check cards, advertising revenue and loan comparison service income increased 54% and 37%, respectively. Total fee and platform revenue reached 310.5 billion won ($225.5 million), up 2.9% from a year earlier.

Looking ahead, Kakao Bank said it plans to further strengthen non-interest income this year by expanding products and services and by seeking growth opportunities in global and artificial intelligence-related businesses. The bank also signaled interest in mergers and acquisitions involving payment and capital companies to broaden its business scope into areas such as infrastructure and equipment finance.

An industry source said sustaining growth in non-interest income will be critical as lending expansion remains constrained, adding that the success of new business lines will play a key role in shaping future performance.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260205010001717

SANTIAGO, Chile, Feb. 4 (UPI) — Chileans want more restrictive laws for unauthorized migrants and even the imposition of prison sentences, according to the latest Plaza Pública survey by public opinion firm Cadem.

The survey results were released after president-elect José Antonio Kast conducted a tour of Central America and the Caribbean this week.

Kast, who will take office in March, met with the presidents of the Dominican Republic, Panama and El Salvador to discuss security and organized crime in the region.

In El Salvador, he also visited the Terrorism Confinement Center, or Cecot, the notorious maximum-security mega prison promoted by President Nayib Bukele.

The Cadem survey found that 79% of respondents believe Chile should adopt a more restrictive migration policy than the current one. In addition, 74% said they agree with having a law that sets prison sentences for irregular migration, while 81% approve of expelling all irregular migrants.

However, 61% said they would support regularizing migrants who can prove they have formal employment.

Immigration was one of the most prominent issues in Kast’s presidential campaign, with proposals such as expelling irregular migrants, installing physical barriers at unauthorized border crossings and limiting the transfer of remittances abroad.

Chile’s migration conflict centers on a crisis of irregular immigration that has strained public services, including health care, education and housing, and increased perceptions of insecurity.

Kast has promoted with neighboring countries the opening of a humanitarian corridor to allow migrants to leave. He has also announced that during his first 90 days in office, he will submit to Congress a bill to classify irregular entry into Chile as a crime, which is currently considered only an administrative offense.

“The migration issue was a central topic of the presidential campaign that has just ended and, therefore, it will also be a central issue for the government that begins in March,” Republican Party lawmaker Stephan Schubert, tied to the incoming president’s coalition, told UPI.

For that reason, he emphasized the need to work on a migration reform to address all the changes that are required.

“It is an issue that needs to be put in order by the future government, and that involves strengthening borders to prevent irregular crossings, but also modifying legislation to establish irregular entry into Chile as a crime,” he said.

Schubert also said priority must be given to “the expulsion of those foreign citizens who, by administrative resolution or court ruling, must leave our country.”

Deputy-elect Fabián Ossandón, from the right-wing Partido de la Gente, told UPI that Kast should push for a deep migration reform, with a priority focus on the northern regions of the country, which border Peru and Bolivia.

“That agenda must include border control with technology and intelligence, effective expulsions of those who violate regulations, regularization processes with clear and demanding requirements, and real regional coordination with neighboring countries,” he said.

One obstacle for the new government is that it will not hold a majority in Congress to approve all of its reforms with the support of the center-right alone, forcing it to seek consensus.

Migration policy specialist Byron Duhalde, of the Center for Migration Studies at the University of Santiago, said the future president’s idea of modifying migration categories requires changes to the law.

“An absolute majority in Congress is required to approve modifications. The parties that are part of the new government do not have the necessary votes,” Duhalde said.

However, Ossandón defended the possibility, arguing that “there is broad-based citizen support to move forward with deep changes, and Congress has a responsibility to legislate on the real priorities of people and the country.”

He added: “On this matter, it is key to act with determination and coordination to push for an effective migration reform that provides certainty, order and clear rules, and that can be implemented as quickly as possible.”

Political analyst Guillermo Bustamante, an assistant professor in the the Faculty of Communications of the University of the Andes, said Kast will be forced to build bridges to advance legislative reforms.

“Here, the figures of his political committee, the presidents of governing and opposition parties, as well as parliamentary caucus leaders, will be relevant,” Bustamante said, adding that the first days of the new administration will be key for the opposition to define its own course of action.

“What we have seen so far does not allow us to ensure that migration will find an agreement between the parties, nor that there is an intention to engage in dialogue around this issue with a 20-year outlook,” he said.

Nevertheless, Duhalde noted that given the positions of political parties on migration, significant cross-party agreement exists on tightening certain measures.

“It is an issue in which the coalition of parties that will be governing will indeed have opportunities to negotiate with the Party of the People, for example, to secure the missing votes needed to legislate on this matter,” he said.

He said he believes clear results will only be achieved if authorities manage to respond to migrants’ needs.

“The challenge will be to design strategies and measures that respond in a balanced way in terms of security, but also protect the fundamental rights of these people in vulnerable situations, linked to the political, social and economic crisis in Venezuela,” Duhalde said.