Journalist
Lee Hugh
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Largest animation and gaming festival wraps up after drawing 100,000 visitors SEOUL, December 8 (AJP) - South Korea's largest animation and gaming festival, the Anime X Game Festival (AGF), concluded on Sunday after attracting more than 100,000 attendees, making it the festival's most successful year yet. The three-day festival, kicked last Friday at KINTEX in Goyang, drew 40 percent more visitors than last year's 72,081. Despite sub-zero temperatures and heavy snowfall on the opening day, fans lined up early, with some even waiting overnight. The diverse crowd, including teenagers and families, highlighted the growing mainstream appeal of what was once considered a subculture. Major gaming developers participated, with Smilegate unveiling its tactical time-travel RPG "MIRESI: Invisible Future" alongside its popular "Epic Seven." Nexon showcased "Mabinogi Mobile," recreating the game's village for an immersive experience. NCSoft made their first appearance at the festival with interactive events for its upcoming release, "Limit Zero Breakers." Netmarble celebrated the eighth anniversary of "Fate/Grand Order" with a booth featuring interactive games and a variety of other events. Other developers and companies also captivated fans with their popular characters and costumes. The festival's signature stage events including anime song performances, attracted enthusiastic crowds and added to the lively atmosphere. Organizers said, "The festival has established itself as a fandom event, and we aim to enhance its programs next year to become a leading global festival." * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-08 13:43:52 -
Asian markets reserved in FOMC week, Japan GDP disappoints SEOUL, December 08 (AJP) - Cautious mood overwhelmed the Asian market opening for the week as investors awaited the rate move and direction signal from the U.S. Federal Open Market Committee (FOMC) meeting later this week. South Korea's KOSPI is trading at 4,103 as of 11:00 a.m. Monday, unchanged from the end of last week. Foreign investors, selling 278.7 billion won ($189 million), and institutions, selling 124.5 billion won, are driving the weakness. Retail investors are buying 399.1 billion won, looking for opportunities. The dollar dropped below 1,470 won, driven by customary year-end dollar-selling for book-closing. Samsung Electronics rose 0.8 percent to 109,400 won on expectations for the chipmaker to retake the No. 1 position in the DRAM market, given the bigger margin of rise in legacy chips. SK hynix slipped 1.29 percent to 537,000 won as its HBM-focused portfolio gives it less room to benefit from the mass-market DRAM upturn. Nuclear power-related stocks are struggling. Doosan Enerbility is trading 4.3 percent lower at 77,000 won, and Korea Electric Power (KEPCO) is 2.1 percent lower at 51,100 won, driven by a combination of factors — the government’s earlier statement prioritizing renewable energy over nuclear power, and the view that the power efficiency of TPUs is up to four times better than GPUs. Some companies are benefiting from favorable news. LG Energy Solution, the No. 1 secondary battery company, is trading 3.2 percent higher at 440,000 won, following news of a $1.4 billion electric-vehicle battery supply contract with Mercedes-Benz. The KOSDAQ is 0.17 percent higher at 923. Its market capitalization briefly surpassed 500 trillion won in early trading before receding to the high-400 trillion-won range. Alteogen, the top market-cap biotech firm, is trading 2.2 percent higher at 466,500 won, reflecting expectations that its business momentum will improve after its decision to transfer its listing from the KOSDAQ to the KOSPI. Japan’s Nikkei 225 is trading 0.3 percent lower at 50,338. Japanese GDP contracted 0.6% sequentially in the third quarter, worse than market expectations of a 0.4% contraction. The market is showing a mixture of anxiety about recession and hope that Prime Minister Sanae Takaichi’s cabinet will implement stronger stimulus measures. Toyota rose 0.59 percent to 3,050 yen and Nissan gained 2 percent to 378 yen, while semiconductor names weakened across the board with Advantest down 1.8 percent to 19,845 yen and Tokyo Electron down 1.35 percent to 32,690 yen. Taiwan’s TAIEX is trading 0.45 percent higher at 28,106. TSMC is leading the rally, trading 1.03 percent higher at NT$1,475, while MediaTek is 1.4 percent lower at NT$1,410, limiting overall gains. Chinese markets show mixed results. The Shanghai Composite Index is trading 0.15 percent higher at 3,908, and the Shenzhen Component is 0.36 percent higher at 13,194, helped by expectations of central bank stimulus. In contrast, Hong Kong’s Hang Seng Index — more sensitive to global investment flows — is 0.35 percent lower at 25,995, weighed by the FOMC uncertainty and Japan’s GDP data. 2025-12-08 11:56:35 -
Hyundai Mobis opens second software R&D center in Bengaluru SEOUL, December 08 (AJP) - Hyundai Mobis, the parts-making affiliate of Hyundai Motor Group, said Monday it has established a specialized software research and development center in Bengaluru, India, as part of efforts to expand its presence in one of the world's fastest-growing automotive markets. The new facility in the southwestern Indian city, known as a hub for global technology firms and startups, will serve as a specialized base for infotainment software development. The center complements the company's existing integrated R&D headquarters in Hyderabad, which was launched earlier this year. Hyundai Mobis said the decision to open a second Indian research base reflects growing demand for software development capabilities as vehicles increasingly rely on advanced electronic components. Bengaluru was selected for its strong software development ecosystem and pool of skilled engineers. The Indian expansion comes naturally, as the Hyundai Motor Group affiliate has already been operating manufacturing plants in Chennai and Anantapur, a parts distribution center in Gurugram, and procurement and quality control centers in Delhi and Chennai respectively. The world's sixth-largest automotive parts supplier said the dual-location strategy also aims to address India's regional diversity in language and culture, which influences talent recruitment. Global automakers and parts suppliers have adopted similar approaches by operating multiple research facilities across major Indian cities. Under the new structure, the Hyderabad center will function as the regional R&D headquarters, overseeing software strategy, global research coordination and application development. The Bengaluru facility will focus on framework development and hardware-software integration for infotainment systems. The expansion also comes as India's automotive market shifts from compact cars toward larger vehicles equipped with advanced driver-assistance systems and other high-value electronic components. This trend has increased demand for software engineers specializing in automotive applications, including advanced driver assistance systems. 2025-12-08 11:00:08 -
Rosé named Variety's 'Global Hitmaker of the Year' for her viral song SEOUL, December 8 (AJP) - K-pop girl band BLACKPINK's member Rosé has been included among American weekly magazine Variety's annual "Hitmakers" list, her agency said on Monday. She was awarded "Global Hitmaker of the Year" at the magazine's ninth annual "Hitmakers" gathering in Los Angeles last Saturday, which recognizes the "artists and collaborators behind the year's 25 most popular songs." "Rising star Rosé, who fielded a big hit with 'Apt.' in tandem with Bruno Mars, also reflected on how quickly success can strike. The collaboration with the veteran hitmaker led to 'an absolute explosion of surprises and an overwhelming amount of love.' And she admitted that gaining international recognition has been 'a tiny bit of a mindfuck,'" the magazine said. In her acceptance speech, Rosé called the past year a "whirlwind of unimaginable events," adding that watching the song's popularity soar was a "real joy." Since its release in October last year, the catchy song has gone viral worldwide, becoming the longest-running K-pop song on the Billboard Hot 100 chart. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-08 10:43:00 -
HJ Shipbuilding launches four patrol boats for South Korean Navy SEOUL, December 08 (AJP) - HJ Shipbuilding held a launch ceremony on Monday for four domestically built high-speed patrol boats, strengthening South Korea’s coastal defense capabilities. The vessels were built under a 2022 contract with the Navy as part of the PKX-B Batch-II program. The ceremony took place at the company’s Yeongdo Shipyard in Busan and was attended by senior defense and industry officials, including Rear Adm. Ahn Sang-min, acting head of the ship project division at the Defense Acquisition Program Administration, and HJ Shipbuilding Chief Executive Yoo Sang-cheol. The new boats, designated PKMR-class patrol vessels, are set to replace the aging Chamsuri-class fleet. They are equipped with advanced combat management systems, 130 mm guided rocket launchers, electronic warfare suites and anti-missile systems. The vessels use waterjet propulsion to operate effectively in shallow waters and are built with reinforced armor, shock-resistant structures and stealth features to reduce detectability and improve combat resilience. HJ Shipbuilding said it had previously delivered 16 vessels under the PKX-B Batch-I project and has secured contracts for all 12 ships under the Batch-II program. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-08 10:32:06 -
Korea's LGES lands $1.4 bn EV battery deal with Mercedes-Benz SEOUL, December 08 (AJP) - South Korea's top battery maker LG Energy Solution (LGES) has signed a 2.06 trillion won ($1.4 billion) electric-vehicle battery supply contract with Mercedes-Benz AG, extending the company’s streak of securing multi-billion-dollar global deals this year as automakers race to lock in long-term cell capacity. According to LGES’ regulatory filing on Monday, the contract covers battery supply to Mercedes-Benz from March 2028 through June 2035, spanning both Europe and North America, the two fastest-growing EV markets. The deal amounts to roughly 8 percent of LGES’ latest annual revenue of 25.62 trillion won, based on its 2024 consolidated financial statements. At 10:10 a.m. shares of LGES jumped 4.5 percent to 445,000 won($303), far outperforming KOSPI gain of 0.2 percent. LGES said the contract value, translated at the exchange rate of 1,471.5 won per dollar on Dec. 5, may be adjusted as details, including total volume and duration, remain subject to further negotiation with the German automaker. The agreement contains no upfront deposits or advance payments, the filing added. The Mercedes-Benz deal adds to a series of multibillion-dollar contracts LG Energy Solution has secured in 2025, underscoring its strengthened global positioning as the EV market bifurcates between premium automakers and cost-driven Chinese competitors. LGED maintains third rank in global EV battery market, following Chinese behemoths CATL and BYD. Its share however dropped to 9.3 percent as of October this year from 11.1 percent in the same period a year ago, according to Korean market research firm SNE Research. Major LGES contracts announced so far this year include $4.3 billion battery supply deal with an undisclosed party in the United States in July, presumed to be Tesla, aside from exclusive U.S supply contracts with Hyundai Motor Group, Honda Motor, and General Motors. 2025-12-08 10:23:41 -
Korean fried-chicken chain BBQ establishes European headquarters in Spain SEOUL, December 08 (AJP) - Genesis BBQ Group said Monday it has established a European headquarters in Spain. The South Korean fried-chicken chain said it formed a partnership with BLT F&B Group, a Spain-based operator with businesses in finance and foodservice across Spanish-speaking markets. BLT manages major restaurant brands including Domino’s Pizza and Applebee’s in the Americas, giving BBQ access to existing operational and supply chain networks. The announcement was made at a launch event held at BBQ’s headquarters in Seoul. The new European base is designed to function as a production and logistics hub, supporting supply chain coordination, faster market entry and product localization. BBQ said the structure will accelerate the rollout of master franchise agreements, flagship stores and localized menu development tailored to national consumer preferences. The company plans to open flagship stores in Spain, the United Kingdom, France, Poland and the Netherlands, with additional expansion targeted at neighboring European markets. Chairman Yoon Hong-geun said Europe represents a “strategic gateway” for the globalization of Korean food and a central pillar of the group’s international ambitions. “We aim to spread the premium value of Korean-style fried chicken across Europe through customized local menus and an advanced logistics network,” Yoon said. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-08 10:17:25 -
OPINION: What South Korea can learn from UK housing policy SEOUL, December 8 (AJP) - Following his victory in the 2024 general election, U.K. Prime Minister Keir Starmer unveiled an ambitious housing policy aimed at tackling what he described as a "national crisis." The plan included supplying 370,000 homes annually, totaling 1.5 million over five years, with a focus on expanding public sector involvement, developing new towns, and making use of green belt areas. His housing policy focused on two main priorities: restructuring public sector roles to take the lead in housing supply and building a diverse mix of homes in both urban and suburban areas. He aimed to transform the public sector from a primarily regulatory role into an active participant in housing supply. By acquiring land and developing plans, the public sector provided the framework for private sector involvement, with the goal of accelerating both the speed and scale of housing delivery. Despite the U.K.'s longstanding reputation for high housing prices, public sector participation in housing supply had historically been limited. He sought to transform the public sector from a passive regulator into an active supplier. By acquiring land and designing development frameworks, the public sector enabled large-scale private construction, accelerating both the speed and scale of housing supply. Despite Britain's notoriously high housing costs, public sector involvement in supply remained minimal. Despite incentives for private developers, housing supply remained insufficient to meet demand. The new government viewed redefining the public sector’s role as essential to tackling chronic housing shortages. Starmer's cabinet pursued a multifaceted approach to housing supply including densifying urban areas, developing new suburban towns, redeveloping brownfield sites, utilizing green belt land, and constructing social housing. This strategy shows that no single method alone can address the country's housing problem. The U.K.'s strategy demonstrates that effective housing policy requires the right combination of approaches, not a binary choice between urban or suburban development. This lesson is particularly relevant for South Korea, where diverse housing needs demand multiple supply strategies rather than dependence on any single method. By Jeon Seong-je at Korea Research Institute for Human Settlements. * This article, published by Aju Business Daily, was translated by AI. 2025-12-08 09:53:50 -
South Korea's HD Hyundai to build shipyard in India's Tamil Nadu SEOUL, December 08 (AJP) - HD Hyundai said Monday it plans to build a new shipyard in India’s southern state of Tamil Nadu, strengthening its presence in one of the world’s fastest-growing maritime markets as New Delhi seeks to become a major global shipbuilding power. The South Korean shipbuilder said it signed an exclusive memorandum of understanding with the Tamil Nadu state government in Madurai. India is promoting the “Maritime Amrit Kaal Vision 2047” strategy, aiming to rank among the world’s top five shipbuilding nations. The federal government is reviewing plans for new shipyards across five coastal states, including Tamil Nadu, which has selected HD Hyundai as its partner for the project. Thoothukudi, a major port area in southern Tamil Nadu, is under review as a potential site. The region has a climate similar to Ulsan, South Korea, and is seeing increased port and industrial investment. Global manufacturers including Hyundai Motor and Samsung Electronics already operate in the area. HD Hyundai is also expanding cooperation with India’s state-owned industries. The company recently signed an agreement with BEML, a state-owned heavy equipment maker headquartered in Bengaluru, to jointly expand its crane business. Under the deal, the two sides will cooperate on crane design, manufacturing and quality control to strengthen India’s domestic production of port and shipbuilding equipment. HD Hyundai plans to supply large Goliath and jib cranes to Indian shipyards. The company has already begun supplying large-scale equipment. In February, HD Hyundai Samho delivered a 600-ton crane to Cochin Shipyard. In August, HD Korea Shipbuilding & Offshore Engineering acquired HD Hyundai Ecobina from Doosan Enerbility, expanding its crane portfolio. “India’s strong commitment to developing its shipbuilding sector presents significant growth opportunities,” HD Hyundai said in a press release. “We aim to deepen cooperation in the maritime sector as a new growth driver.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-08 09:47:11 -
OPINION: Political paralysis exposes need for structural reform SEOUL, December 8 (AJP) - The National Assembly has become a battleground of extreme confrontation rather than a forum for meaningful discussion. Deep political polarization, where each party sees itself as righteous and the other as fundamentally wrong, has eroded any space for compromise or dialogue. The concentration of power by a dominant party has encouraged authoritarian tendencies and shifted politics toward identity-based conflict rather than practical problem-solving. This dynamic is further reinforced by the presidential system, where each change in administration brings a near-total reset of national policies every five years, undermining continuity and long-term stability. Several reforms could help address these challenges including revising the electoral system to strengthen proportional representation and encourage coalition-based governance, democratizing party nomination processes, and exploring a semi-presidential or parliamentary system to reduce the excessive concentration of power in the presidency. Stronger ethical standards for politicians are also essential including strict penalties for unethical conduct, and the media must shift its focus from sensationalism to substantive policy issues. Citizens, in turn, should engage critically and judge politicians based on their responsibility and performance rather than partisan loyalty. Finally, there is an urgent need to resolve the ongoing trials related to disgraced former President Yoon Suk Yeol's botched Dec. 3 declaration of martial law, which have stoked social tensions and eroded public trust in the legal system. Prolonged proceedings risk undermining faith in democratic institutions and diverting attention from pressing economic and social challenges. Transparent judicial processes are essential to restore confidence in the rule of law. By Kim Young-yoon, president of the Korea Logistics Forum * This article, published by Aju Business Daily, was translated by AI. 2025-12-08 09:08:56