Journalist
Lee Hugh
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South Korea's Daesang to buy German amino-acid maker for $36 million SEOUL, December 18 (AJP) - South Korea's Daesang Corp. said on Thursday it will enter the pharmaceutical biotechnology sector through the acquisition of AMINO GmbH, a German company specializing in pharmaceutical-grade amino acids. In a regulatory filing, Daesang said it will acquire a 100 percent stake in AMINO for about 50.2 billion won ($36 million). The company said it is in the process of securing the necessary regulatory approvals and aims to complete the transaction by March 2026. Founded in 1958, AMINO manufactures pharmaceutical amino acids used in intravenous solutions, clinical nutrition products and cell culture media, as well as excipients used in biopharmaceutical production. The company operates a research center and three manufacturing facilities in the Prellstedt area of northern Germany and supplies major global biopharmaceutical companies and medical nutrition specialists. Daesang said the acquisition will allow it to enter the high-value pharmaceutical amino-acid market, citing steady growth in demand for IV solutions and patient nutrition. The company also pointed to rising demand for inputs linked to the growth of biopharmaceuticals, including protein-, gene- and cell-based therapies. AMINO’s purification technology, manufacturing infrastructure and experience navigating European regulatory requirements are expected to be key assets as Daesang expands into pharmaceutical biotechnology, the company said. “This acquisition is a strategic investment that enables Daesang to expand beyond its existing materials business into the high-value pharmaceutical biotech market,” CEO Lim Jung-bae said in a press release. “We will strengthen our competitiveness in pharmaceutical amino acids by leveraging AMINO’s technology and global network.” 2025-12-18 15:29:38 -
Pro-Pyongyang paper slams Washington for omitting North Korea from US security policy SEOUL, December 18 (AJP) - What is most "notable" in the U.S.' National Security Strategy (NSS) released early this month is that it does not mention North Korea at all, said a pro-North Korea newspaper in Japan. In a column published on Thursday, Choson Sinbo, a mouthpiece for Pyongyang run by the General Association of Korean Residents in Japan or Chongryon said failing to mention North Korea would amount to the U.S. admitting the "complete failure" of its denuclearization policy for the Korean Peninsula. The paper also criticized the NSS as lacking strategic depth, describing the "self-contradictory and distorted" document as containing little international analysis and being driven primarily by U.S. President Donald Trump's "America First" principles. The rebuke followed similar remarks last Friday when the paper slammed Washington for trying to shift from "world police" to "fortress America." Released on Dec. 4, this year's NSS, which outlines U.S. security visions and strategies, made no mention of North Korea or its denuclearization. The omission marks an unusual departure from previous administrations, raising concerns here about shifting U.S. security priorities. 2025-12-18 15:25:16 -
South Korean government backs Korea Zinc's US smelter plan SEOUL, December 18 (AJP) - The South Korean government has given a positive assessment of Korea Zinc's plan to invest in a smelter in the United States, raising expectations that key procedures such as permits and financing could move more quickly. The investment is also expected to strengthen Korea Zinc’s global footprint and deliver tangible progress in South Korea–U.S. cooperation on critical minerals, the government said. Industry Minister Kim Jeong-gwan told reporters on Wednesday, after a policy briefing to President Lee Jae Myung, that Korea Zinc’s proposal to build a smelter in Clarksville, Tennessee, was “a strategic decision despite the financial burden.” Kim said there had been “some consensus” on the project in August through a memorandum of understanding, adding that the investment would help South Korea secure a more stable supply chain for rare earths and other critical minerals. Korea Zinc formally announced on Monday that it plans to invest about 11 trillion won alongside the U.S. government and other strategic investors to build the smelter. Minister Kim said he understood that the company had carefully assessed the project’s costs and returns, and described it as an initiative welcomed by the U.S. Department of Commerce. According to Korea Zinc, the planned U.S. smelter will produce 13 minerals, including base metals such as zinc, lead and copper, as well as antimony, indium and bismuth. Of those, 11 are included on the U.S. government’s 2025 critical minerals list. According to South Korean credit rating agencies, the investment could strengthen Korea Zinc’s long-term business competitiveness, while also increasing its financial burden. Korea Zinc said U.S. investors will not hold management control or decision-making authority in the entity that will build and operate the smelter. 2025-12-18 14:42:49 -
Foreign jobs hit record high in South Korea, exceeding 1.1 million SEOUL, December 18 (AJP) - Foreign employment in South Korea has exceeded 1.1 million for the first time, driven by a sharp increase in international students and nonprofessional workers, government data showed on Thursday. According to the Ministry of Data and Statistics’ 2025 survey on foreign employment, the resident foreign population stood at 1.692 million this year, up 132,000, or 8.4 percent, from a year earlier. The rate of working foreign residents rose 1.4 percentage points to 70 percent, exceeding 1.1 million for the first time. Growth was driven mainly by international students, whose employment rose by 23,000, and holders of nonprofessional employment visas, up 18,000. The number of unemployed foreign residents also increased by 15,000. Nearly 90 percent of foreign residents, or 89.8 percent, said they intend to remain in South Korea. By nationality, the largest groups among nonprofessional employment visa holders were from Cambodia and Nepal, each with 47,000 workers, followed by Vietnam with 39,000. Respondents said they chose South Korea because of relatively high wages and favorable working conditions. As of May, Vietnam accounted for the largest number of international students in South Korea, at about 100,000, followed by China with 45,000 and Uzbekistan with 17,000. Students cited South Korea’s strong education programs and interest in their fields of study as key reasons for choosing the country. 2025-12-18 14:20:53 -
OPINION: Oscar Night in 2030 - except that it won't end in one night On a spring evening in 2030, few people will reach for a television remote. They will tap the YouTube icon on the living-room screen instead. The Oscars will not appear on a numbered channel, but at the top of an algorithmic feed, marked simply: "Live now". The ceremony will begin—and almost immediately, it will splinter. Acceptance speeches will circulate as concise summaries. The red carpet will resurface as tagged video clips. Jokes will dissolve into memes. A small audience will still watch the broadcast from beginning to end. Most will not. Yet nearly everyone will encounter the Oscars in one form or another. The Academy of Motion Picture Arts and Sciences (AMPAS) has agreed to stream the Academy Awards exclusively on YouTube for five years starting in 2029. The partnership will bring to a close nearly half a century of broadcast exclusivity with ABC, which began in 1976 and will end after the 100th ceremony in 2028. To frame the decision as an attempt to court younger viewers misses the larger point. The question is not age, but where attention gathers. Audiences no longer assemble around broadcast schedules. Live events migrate to platforms where people already spend their time. YouTube has long dominated mobile screens. It has now become a default presence on television sets themselves. Measured by TV viewing time, YouTube has surpassed Netflix—an inflection point that speaks less to the triumph of streaming than to the quiet replacement of broadcasting by platforms as the central architecture of media consumption. The more profound shift lies in what has happened to the live event itself. The Oscars no longer exist as a single night sealed off from the rest of the year. Red-carpet arrivals, backstage exchanges, interviews and short clips circulate continuously, resurfacing through search and recommendation long after the ceremony has ended. AMPAS’s decision to digitize its vast archive with Google reflects the same logic. The awards show is evolving from a one-off spectacle into a perpetually accessed repository of content. For audiences in South Korea, this transformation feels familiar. We no longer speak of “watching television” so much as opening apps. Messaging platforms sustain relationships; video platforms absorb hours; news reaches readers increasingly through summaries, clips and recommendations rather than full articles. As artificial intelligence settles into this environment, the contours sharpen further. Summaries precede full viewing. Experience is completed through circulation. Advertising slips away from traditional commercial breaks into short-form video, commerce and live sales. Viewers are no longer merely audiences; they function as editors, amplifiers and distributors all at once. The Oscars’ move to YouTube does not herald the death of broadcasting. It confirms that broadcasting as a format has already begun to dissolve. What matters now are the questions that follow: Where does public value attach in a platform-dominated media order? When editorial power drifts toward algorithms, who bears responsibility for diversity and balance? And who controls the record? The Academy’s renewed emphasis on archiving acknowledges a reality that extends far beyond Hollywood: platforms are becoming not just spaces of consumption, but custodians of cultural memory. The Oscars of 2030 will likely feel quieter. Some will watch live. Others will catch up the following morning. Many will decide that a handful of clips is sufficient. The ceremony will not vanish—but it will no longer be a moment experienced collectively, in real time. In truth, we already inhabit that world. The Oscars are simply arriving late. 2025-12-18 14:16:38 -
Tottenham bids another emotional farewell to Son in documentary SEOUL, December 18 (AJP) -Tottenham Hotspur has released “Heung-Min Son: Homecoming,” a documentary capturing the final chapter of the South Korean star’s decade-long journey at the club, following his emotional return to North London in December. The film premiered this week on Tottenham’s official streaming platform and documents Son’s long-awaited farewell at Tottenham Hotspur Stadium during the Dec. 9 Champions League match against Slavia Prague. Now 33 and playing for LAFC, Son addressed supporters before kickoff and signed a newly unveiled mural dedicated to his legacy. Son’s return came five months after his abrupt departure in August, when he announced his decision to leave Tottenham at a press conference in Seoul during the club’s preseason tour. The timing meant he never received a proper farewell at the stadium — a gap the club sought to address by inviting him back. “When I announced my decision to leave in Korea, I never got a proper chance to say goodbye to fans at the stadium,” Son said in the documentary. Former defender Ledley King presented Son with a commemorative trophy on the pitch, while supporters heard directly from their former captain in what became a belated but deeply personal send-off. The mural on Tottenham High Road — personally selected by Son — depicts his signature camera celebration and the moment he lifted the Europa League trophy in May, ending the club’s 17-year silverware drought. Son signed the mural during his visit. Son joined Tottenham from Bayer Leverkusen in 2015 for £22 million. Over ten seasons, he recorded 173 goals and 101 assists in 454 appearances, ranking fifth on the club’s all-time scoring list. His achievements include the 2021-22 Premier League Golden Boot, shared with Mohamed Salah, the 2020 FIFA Puskás Award, and becoming the first Asian player to score 100 Premier League goals. His partnership with Harry Kane produced 47 combined goals — the most prolific duo in Premier League history. Son captained Tottenham to the 2025 Europa League title with a 1-0 victory over Manchester United in Bilbao, a moment the documentary frames as the perfect closing act. “Ending it with a trophy was the most ideal ending,” Son said, adding that the final was his last match for the club. The film also explores Son’s decision to depart after the Europa League triumph. “I’m not the type to stay in a stable place for a long time, so I felt I needed a new challenge,” Son said, noting that he discussed the decision with people he trusts and that they supported him. He said he informed Tottenham of his intentions immediately after the final and made one condition clear: he would not join another Premier League club. “I respect this club,” Son said. “I don’t want to play against Tottenham. I was a player who played only for Tottenham.” Son completed a move to Los Angeles FC in August for $26.5 million, a record transfer fee in Major League Soccer.’ During his December return, Son reflected on his transformation over a decade in North London. “I came to north London as a kid who didn’t speak English,” he told fans. “I leave as a grown man, a very proud man. I will always be Spurs and always be with you. This will always be my home.” Near the end of the documentary, Son thanked the club once more. " I’m truly grateful to Tottenham for being with me, and the time I played in this uniform was an honor and happiness,” he said. “I hope you remember me forever as a Tottenham player.” Asked whether he would have chosen a different way to say goodbye, Son replied, “I think the way it happened now was perfect.” The film closes with a familiar chant echoing through the stadium and beyond: “Nice one, Sonny.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-18 14:15:04 -
Hyundai Motor Group conducts executive reshuffle, naming 4 new presidents SEOUL, December 18 (AJP) - Hyundai Motor Group on Thursday carried out its regular executive reshuffle, promoting four senior executives to the rank of president. Manfred Harrer was promoted to president and continues to serve as head of the research and development divisions at Hyundai Motor and Kia Corp. Born in 1972, Harrer holds a master’s degree in mechanical engineering from Munich University of Applied Sciences and a doctorate in mechanical engineering from the University of Bath in the United Kingdom. Before joining Hyundai Motor Group last year, Harrer worked at Porsche AG, where he served as vice president overseeing chassis and advanced driver-assistance systems development. He later led vehicle integration for Apple Inc.’s electric vehicle development project. Since joining the group, Harrer has led efforts to strengthen core vehicle performance as vice president in charge of vehicle development within the R&D division. As R&D chief, Harrer is expected to work closely with software and related divisions to further enhance the group’s technological competitiveness, particularly in its push toward software-defined vehicles. Jung Jun-cheol was promoted to president and named head of the manufacturing division at Hyundai Motor and Kia. He oversees the Manufacturing Solution Division, which is responsible for production technology, as well as the Purchasing Division, a key function for profitability and supply-chain management. Hyundai Motor Group said Jung is expected to focus on building a software-centered production system and advancing next-generation manufacturing technologies, including robotics. Yoon Seung-kyu was promoted to president and will serve as head of Kia America. He previously led the automaker’s sales operations in the United States and Canada. The group credited Yoon with delivering more than 8 percent year-on-year growth in retail sales despite a challenging competitive environment, helping strengthen Kia’s position in the global market. Lee Bo-ryong was promoted to president and named chief executive officer-designate of Hyundai Steel. With more than three decades of experience in the steel industry, Lee has held senior roles across production, R&D and business operations. Lee’s engineering background and broad operational experience position him to enhance Hyundai Steel’s future competitiveness through the steady execution of large-scale strategic investments in facilities and technology, the company said. 2025-12-18 13:51:18 -
Seoul eases a set of FX liquidity rules to prop up the won SEOUL, December 18 (AJP) -The South Korean government has decided to broadly ease foreign-exchange stability rules for banks, exporters and foreign investors to improve FX supply and demand conditions in latest efforts to prop up the won hovering stubbornly at crisis-era levels without direct market intervention. The move was decided during another emergency meeting among the heads of the finance ministry, financial regulator, and the central bank Thursday morning after the U.S. dollar tested 1,480 won on the previous day. As of 1:30 p.m., the dollar has retreated to 1,477.70 won. Under the plan, supervisory actions tied to enhanced FX liquidity stress tests for financial institutions will be suspended through the end of June next year. The enhanced test evaluates banks’ ability to withstand foreign-exchange funding stress by measuring daily inflows against outflows. Institutions that fail to meet a required “survival period” — when inflows exceed outflows — had to submit liquidity-boosting plans to regulators. Authorities said the supervisory burden has led some institutions to hold more FX liquidity than needed for normal operations through the effect of relaxing forward FX position limits for local subsidiaries of foreign banks. Forward FX transactions involve agreements to buy or sell foreign currency at a predetermined exchange rate on a future date. Korea’s forward FX position system, introduced in 2010, caps banks’ net forward positions relative to equity to prevent excessive capital inflows and a buildup of external debt. Until now, local units of foreign banks — including SC First Bank Korea and Citibank Korea — have been subject to the same 75% limit as domestic lenders, despite operating with business models similar to foreign bank branches that rely heavily on funding from overseas headquarters. Authorities said this discrepancy has acted as a constraint on FX inflows. Under the new plan, the forward FX position limit for these local subsidiaries will be eased to 200%. Domestic banks will continue to face a 75% cap, while foreign bank branches will remain subject to a higher limit of 375%. The government will also further relax restrictions on FX loans for won-denominated uses by exporters. Won-use FX loans refer to cases in which companies borrow in foreign currency — such as U.S. dollars — but convert the funds into won for domestic use rather than for imports. An increase in such loans can boost dollar selling in the FX market, helping to ease upward pressure on the exchange rate. Previously, FX banks were allowed to extend such loans only for exporters’ domestic facility investment. Under the revised framework, exporters will also be able to use FX loans for domestic working capital. In addition, authorities said they will promote “integrated foreign investor stock accounts,” which would allow overseas retail investors to trade South Korean equities directly through foreign brokerages without opening separate accounts at local securities firms. Officials said broader overseas participation could attract new investment funds and support FX inflows. Regulators also plan to clarify guidance that foreign companies listed on overseas exchanges qualify as professional investors, easing procedural hurdles in FX derivatives trading. Despite their status, unclear interpretations have required advance documentation and verification, discouraging FX transactions and capital inflows. The government said follow-up measures under the plan will be completed by year’s end. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-18 13:27:47 -
Louis Vuitton trademark case goes public at Korea's Supreme Court SEOUL, December 18 (AJP) -South Korea’s Supreme Court will hold a public hearing later this month to decide whether remodeling luxury handbags into entirely new products constitutes trademark infringement, a case expected to set the court’s first clear benchmark on the legal limits of the so-called “reform” or upcycling business. According to the Supreme Court on Thursday, its Second Division, presided over by Justice Kwon Young-joon, will hear public arguments at 2 p.m. on Dec. 26 in Courtroom No. 1 in a lawsuit seeking an injunction for trademark infringement. The case pits French luxury brand Louis Vuitton against a bag remodeling operator, with the central question being whether extensive alteration of branded goods amounts to unauthorized trademark use. The dispute arose after the operator, at the request of customers, dismantled and remade Louis Vuitton handbags into different items — including other bags and wallets — while keeping the original Louis Vuitton logos intact. The operator charged fees for the service. Louis Vuitton argues that the practice is indistinguishable from unauthorized manufacturing and distribution of trademarked goods. It claims that retaining the logo on substantially altered products risks misleading consumers about the product’s origin and quality, thereby infringing trademark rights. The operator counters that consumers who lawfully purchased the bags have the right to alter their own property, including by outsourcing the work to a professional technician, and that such conduct does not constitute trademark infringement. At issue is whether the remodeling qualifies as “trademark use” that serves a source-identifying function, whether the remodeled items should be treated as new “products” under trademark law, and whether their circulation is likely to cause consumer confusion. Both the trial court and the appellate court ruled in favor of Louis Vuitton, finding that the remodeling exceeded permissible repair and amounted to trademark infringement. The operator appealed, sending the case to the Supreme Court. In a key appellate ruling, the Patent Court held that refurbished luxury bags qualify as independent “goods” in the marketplace due to their substantial resale value, particularly in the active secondary luxury market. The court ordered the operator to pay 15 million won ($11,500) in damages to Louis Vuitton and issued an injunction barring further use of the brand’s trademark. “Refurbished products hold significant value on the secondary market, just as the original items do, giving them independent value as products,” the court said. It added that because the Louis Vuitton mark remained visible without any indication that the items had been reworked or recycled, average consumers could be misled into believing the products were original Louis Vuitton items — constituting unauthorized trademark use. The court distinguished minimal repairs, which do not create new products, from substantial changes in size, design or structure. In this case, it found that dismantling handbags and reassembling them into wallets or differently shaped bags resulted in entirely new products, beyond the scope of trademark exhaustion. Between 2017 and 2021, the operator used Louis Vuitton materials provided by clients to create custom bags and wallets in various sizes and designs, charging between 100,000 and 700,000 won per item. Louis Vuitton filed suit in February 2022, seeking a ban and 30 million won in damages, arguing that the practice diluted brand identity and quality guarantees. The case will mark the sixth time the Supreme Court has convened a public hearing in a matter handled by a small panel rather than the full bench, highlighting the court’s growing use of public hearings in cases with broad social and economic implications. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-18 13:01:45 -
CJ CheilJedang brings Bibigo brand to Netflix's Culinary Class Wars Season 2 SEOUL, December 18 (AJP) - CJ CheilJedang said Thursday it has supplied a branded pantry stocked with Korean food products for Netflix's cooking competition series Culinary Class Wars Season 2 expanding its global marketing push following a similar tie-up with Squid Game Season 2. The food giant provided a dedicated Bibigo-branded pantry that appeared in episodes released on Dec. 16, featuring ingredients ranging from basic condiments to signature ready-to-eat products for competing chefs to use during the show. The pantry includes Korean staples such as fermented pastes including gochujang and doenjang, alongside Bibigo's flagship products including instant rice, dumplings, kimchi, and processed meats. An internationally beloved series which pit 80 unknown chefs against celebrity chefs in a culinary competition last season, Culinary Class Wars was the first Korean unscripted series to lead Netflix’s Global Top 10 (Non-English) TV list for three consecutive weeks. CJ CheilJedang plans to launch collaborative products tied to the show, following its product partnership with Squid Game Season 2 last year. "The support for Culinary Class Wars Season 2 carries significant meaning, as we not only have a diverse product portfolio led by Bibigo, but have also invested in discovering and nurturing Korean chefs through our Cuisine.K initiative," a company official said. Despite viewer anticipations, Season 2 has faced controversies, with one of its main judges Paik Jong-won embroiled in allegations over origin labeling violations and agricultural land law breaches, while some dishes in the competition have drawn plagiarism accusations. 2025-12-18 11:58:23