Journalist
Lee Hugh
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South Korea's daily inflation nears 3% in November on steep won weakening SEOUL, December 02 (AJP) - South Korea’s inflationary pressure strengthened in November, with daily living costs hovering near 3 percent as a sharply weaker won pushed up fuel and import prices while discouraging overseas travel and spending, government data showed Tuesday. According to the consumer price index (CPI) released by the Ministry of Data and Statistics, headline inflation rose 2.4 percent from a year earlier, matching October’s on-year gain. Fuel prices jumped 5.9 percent on year and 3.5 percent on month, reflecting the dollar-won exchange rate lingering at crisis-level territory. The dollar climbed as high as 1,475.2 won last month — nearly 7 percent higher than two months earlier. Diesel prices rose 10.4 percent and gasoline gained 5.3 percent. Although Dubai crude fell about 4.5 percent — from $66.2 per barrel in late October to $63.2 in late November — domestic petroleum prices nevertheless increased to 1,718.1 won per liter from 1,663.2 won a month earlier due to the weaker won and the gradual phase-out of fuel-tax cuts. Processed food prices rose 3.3 percent on higher import-input costs, while prices of agricultural, livestock and fishery goods surged 5.6 percent on poor weather conditions. Core inflation, which excludes food and energy, eased to 2.0 percent from 2.2 percent in October as service-sector prices softened on weakening demand. Housing rents — including jeonse lump-sum leases and monthly rentals — continued their upward trajectory, rising 0.9 percent on year. The Cost of Living Index (CLI), which tracks 144 frequently purchased items, accelerated to a 2.9 percent on-year increase from 2.5 percent in October. Expected inflation for the next 12 months remained in the mid-2 percent range. Following the release, the Bank of Korea said it was monitoring price trends “with vigilance,” noting that overall inflation has stayed in the mid-2 percent range for a second consecutive month while daily living costs have spiked. In the bond market, the 3-year Treasury yield closed the early Tuesday session 2.0 basis points lower at 3.025 percent, while the 10-year yield slipped 1.4 basis points to 3.373 percent. The central bank kept its policy rate unchanged at 2.5 percent at its final meeting of the year on Nov. 27, citing a policy bind created by foreign-exchange volatility and housing-market vulnerabilities. 2025-12-02 16:23:28 -
INTERVIEW: KEAD chief aims to expand job opportunities for disabled in emerging industries SEOUL, December 2 (AJP) - Dec. 3 marks the UN's International Day of Persons with Disabilities, highlighting the importance of employment opportunities for the disabled amid rapid changes in the labor market. The Korea Employment Agency for Persons with Disabilities (KEAD) is at the forefront of this effort. Lee Jong-seong, KEAD's head, is focused on creating jobs for the disabled. "The expansion of artificial intelligence (AI) and digital industries is reshaping the job market," Lee said. "We aim to uncover new roles in future industries to provide more opportunities for the disabled." KEAD is prioritizing job development in new industries, expanding digital training, and supporting companies in adopting new roles. Challenges remain such as low employment rates for the severely disabled and insufficient diversity in the job market. Lee said the government plans to raise the mandatory employment quota for people with disabilities to 3.5 percent by 2029, emphasizing KEAD's role in helping companies comply through tailored consulting and promoting best practices. Lee highlighted the need for improved perceptions of disabled workers, despite several years of mandatory workplace education. KEAD is enhancing experience-based programs and utilizing various media channels to help change these perceptions. Despite an overall rise in employment, the employment rate for people with disabilities declined from 50.4 percent in 2022 to 48.4 percent in 2024. KEAD aims to reverse this trend by expanding quality jobs and relevant support services including AI-driven job-matching systems. Lee aims to improve workplace practices by offering higher subsidies for additional hires and supporting marketing efforts for small businesses. "Our goal is to transform lives and enhance social diversity and sustainability," Lee said, urging continued support and attention. * This article, published by Aju Business Daily, was translated by AI. 2025-12-02 15:57:41 -
KAI strengthens space portfolio with new satellite launch SEOUL, December 02 (AJP) - Korea Aerospace Industries (KAI) said Tuesday the country's new multipurpose satellite was successfully launched at 2:21 a.m. local time from the Guiana Space Center in French Guiana aboard a VEGA-C rocket. KAI played a key role in the mission, jointly developing and assembling the satellite with the Korea Aerospace Research Institute (KARI). Officials said the launch significantly strengthens South Korea’s precision earth-observation capabilities, enabling stable acquisition of high-resolution imagery of the Korean Peninsula and other strategic regions. The satellite is equipped with an ultra-high-resolution electro-optical camera capable of capturing images at 0.3-meter resolution. The data is expected to support land management, disaster response, environmental monitoring and urban planning. The mission follows last month’s successful launch of a medium satellite. KAI said it intends to build on the momentum to expand the nation’s satellite development capacity and accelerate the shift toward greater private-sector leadership in space projects. “As a leading space company in South Korea, we will continue contributing to the nation’s space ambitions by leveraging our 30 years of experience across satellite and launch vehicle programs,” said Kim Ji-hong, head of KAI’s Future Convergence Technology Institute. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-02 15:52:53 -
South Korea holds world's first contest to counter AI hacking SEOUL, December 02 (AJP) - South Korea has wrapped up the world’s first AI Hacking Defense Contest (ACDC), an event designed to test emerging cybersecurity threats and defense techniques in the era of artificial intelligence. The competition was hosted by the Ministry of Science and ICT and organized by the Korea Internet & Security Agency (KISA) in partnership with the Korea Information Security Industry Association (KISIA). The contest examined three major domains: AI security applications, AI safety assurance and AI platform security. Preliminary rounds were held over two days beginning Oct. 31, with 20 teams advancing to the finals on Dec. 1 at COEX in Seoul. The final stage combined traditional capture-the-flag (CTF) challenges with AI-based attack-and-defense exercises. The Ministry of Science and ICT team — comprising members from Singularity, Superblock, Viva Republica and Toss Securities — won the top honor, the Minister of Science and ICT Award. “This contest was a great opportunity to highlight the importance of AI security, which is often overlooked,” said Joo Kyu-hwan, leader of the winning Ministry of Science and ICT team. “I enjoyed the competition from the preliminaries through the finals and appreciate the efforts of my teammates and the organizers.” In the general category, the GYG team, representing Toss and Theory, won the KISA President’s Award. The student division was topped by Pwngrad, a joint team from KAIST and Soongsil University, which received the KISIA President’s Award. Special awards were presented to the 78RL78 team (78ResearchLab) and the “Do You Know Ucando” team (Yonsei University), who received the LG Uplus CEO Award, and to the RHCP team from POSTECH, which earned the Korea Institute of Information Security & Cryptology President’s Award. KISA said it plans to expand the ACDC into an international event next year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-02 15:42:47 -
Four injured in explosion during military training in Paju SEOUL, December 2 (AJP) - Four people were injured in an explosion at an army training site in Paju, Gyeonggi Province on Tuesday. The accident occurred during anti-aircraft shooting drills when a 30-mm shell became stuck in a launcher. According to military authorities, the injured included three non-commissioned officers and one civilian employee. They were airlifted to the Armed Forces Capital Hospital in the province with injuries such as shoulder wounds and tinnitus, but are reportedly in stable condition. A military official said, "The exact cause of the accident is under investigation." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-02 15:22:28 -
BLACKPINK's Jennie sets new milestone with four RIAA certifications SEOUL, December 2 (AJP) - K-pop girl group BLACKPINK's member Jennie has earned another "gold" certification for a song from her first full-length solo-debut album. According to the U.S. Recording Industry Association of America (RIAA)'s latest list released this week, "ExtraL" from her album "Ruby" received the honor. This brings Jennie's RIAA certifications to four, the most among K-pop solo artists, including three tracks from "Ruby." Previously, she received a "platinum" certification for "One Of The Girls," a collaboration with Canadian singer-songwriter The Weeknd and French-American actress Lily-Rose Depp, as well as “gold” certifications for "Mantra" and "Like JENNIE." The RIAA awards certifications based on album sales - gold for 500,000 units, platinum for 1 million, multi-platinum for 2 million, and diamond for 10 million. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-02 15:06:33 -
Korea's only commercial small-satellite platform firm targets global growth with planned IPO SEOUL, December 02 (AJP) - Nara Space Technology, South Korea’s only commercial provider of small-satellite platforms, is preparing to list on the KOSDAQ market as it seeks to scale its global business on the back of growing demand for earth-observation data. At a press conference in Seoul, Tuesday, CEO Park Jae-pil said the company aims to become a world-class small-satellite developer, leveraging the “space heritage” it has accumulated through successful launches and in-orbit operations ahead of its IPO. The company plans to issue 1.72 million shares at a price range of 13,100 to 16,500 won, raising an estimated 22.5 billion to 28.4 billion won. Institutional bookbuilding closes on Dec. 2, with retail subscriptions scheduled for Dec. 8–9. The company aims to complete its listing within December. Samsung Securities is acting as lead underwriter. “We are the only company in South Korea capable of providing small-satellite cluster services,” Park said. “Funds raised from the listing will be used to expand internationally and speed up satellite launches.” Founded in 2015, Nara Space Technology has grown into the country’s sole commercial supplier offering end-to-end capabilities spanning satellite design, manufacturing, launch, mission operations, imaging and data analytics. The company secured its space heritage after successfully launching and communicating with its Observer-1A satellite in November 2023 and its Observer-1B in 2025. It now operates two satellites in orbit. Nara Space Technology’s recent payload launch on South Korea’s Nuri rocket, and its contract to fly again on Nuri’s sixth mission in 2027, have strengthened its credibility. The firm is working with major Korean companies including Samsung Electronics, KT and Hanwha Systems. Its cluster-based observation platform shortens revisit intervals compared with single-satellite systems, offering applications in disaster response, carbon-emission monitoring and smart-city management. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-02 15:06:03 -
AJP addresses trust gap in bias-driven news landscape SEOUL, December 02 (AJP) - The media's role of ensuring fairness and trust has become increasingly vital as audiences and readers grow either selective or evasive in consumption of news, and as societies shift from institution-based to network-driven structures, media veterans and scholars said in a forum hosted by Asian news agency AJP on Tuesday. The forum, held to commemorate AJP's first anniversary, featured Sohn Jie-ae, visiting professor at Ewha Womans University, Park Han-woo, professor at Yeungnam University, and Lee Byung-jong, professor at Sookmyung Women's University. AJP Chief Editor Seo Hye-seung moderated the discussion. Lee opened the discussion by reflecting on long-standing asymmetries in global news coverage. He recalled UNESCO's past critism of the western-dominated news supply, and unsuccessful attempts by Asia-Pacific media to build alternative platforms. "The situation is different now. Asian media outlets like AJP are preparing to step up," Lee said. "South Korea has developed its capabilities through democracy and media development." Lee highlighted South Korea's pioneering role in online democracy, recalling how former President Roh Moo-hyun earned the nickname "Internet President" when SMS messaging positively influenced elections. However, he pointed out that two decades later, social media has shifted toward negative polarization through fan-based politics and fortified ideological camps. "Research shows false information spreads about six times faster than truthful information," Lee added, expressing concern over changing media dynamics. Park addressed questions about the impact of cryptocurrency-based prediction markets on democracy. He explained that platforms like Polymarket have significantly lowered entry barriers to political betting, contrasting this with the Lee Myung-bak era when financial interests existed but lacked digital connectivity. "People may now bet against their own ideological beliefs for financial gain," Park said. "This could create serious chaos for democracy." The panel tackled questions about journalistic objectivity in depth. Sohn argued that complete objectivity in reporting is difficult to achieve. "The very act of deciding what story to write involves subjective judgment," Sohn said. "What matters is that journalists understand both sides of an issue before their readers do, and constantly consider how to present information fairly and in a balanced manner." Sohn added that she teaches students to find the "selling point" in their stories, emphasizing that since editors and journalists ultimately make editorial decisions, their knowledge, integrity, and ethical awareness are crucial. Park highlighted the unique challenges facing English-language news outlets in Korea. Using the recent Coupang data breach as an example, he noted the tension between reporting from a national interest perspective versus global standards. "If you report from a national interest standpoint, you might approach it sympathetically. But global standards would require pointing out the digital platform's negligence in data management," Park said. He also noted the Coupang incident involves allegations of Chinese involvement, raising questions about whether to frame coverage nationalistically or through universal principles. "Korean news consumers are likely issue-based or fan-based audiences, so deeper reporting is essential," he advised. On building reader trust, Lee warned that maintaining neutrality and earning reader trust has become extremely difficult today. "Over-focusing on loyal audiences means sacrificing some objectivity," he said. Lee explained that media outlets must balance independent, fair reporting with financial sustainability, noting some have turned to government subsidies or donations instead of advertising or subscriptions. Park emphasized face-to-face engagement. "Most general readers tend to be older, so they need to meet journalists and editors directly," he said. "Offline events and forums help build rapport with readers. The New York Times uses this strategy as well." He suggested that directly briefing senior readers would increase their subscription commitment, noting older audiences differ from younger demographics. Sohn concluded that face-to-face communication and financial stability are both important. "In opinion sections, readers seek journalists they trust," she said. "Developing differentiated storytelling approaches is key to building that trust." 2025-12-02 14:58:49 -
South Korea's Hanwha Ocean wins $255 million order for two large oil carriers SEOUL, December 02 (AJP) - Hanwha Ocean said Tuesday it has secured an order for two very-large crude carriers (VLCCs), valued at 375.3 billion won ($255 million). The VLCCs will be built at the company’s Geoje shipyard. Company officials say improved conditions in the international oil market are fueling new orders. Rising production and exports by OPEC members have lifted VLCC freight rates, while the aging of the global tanker fleet is accelerating replacement demand. With the latest deal, Hanwha Ocean has secured orders for 43 vessels so far this year. Those include 19 VLCCs, 17 container ships, six LNG carriers and one icebreaking research vessel, with a combined value of about $7.96 billion. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-02 14:35:25 -
Coupang censured by Korean president as founder-chair stays silent SEOUL, December 02 (AJP) - Coupang’s management came under heavy fire from lawmakers and direct censure from the Korean president on Tuesday, after the country’s largest-ever data breach — affecting virtually all of its 33.7 million customers — went undetected for nearly five months. Shares in Coupang, listed on the Nasdaq, slid more than 5 percent on the first trading day after the disclosure, paring part of the 28 percent gain built earlier this year. JPMorgan warned that fines, voluntary compensation programs and litigation could weigh on near-term sentiment, although customer churn may prove limited given Coupang’s dominant market position. The company has confirmed that unauthorized access began on June 24 via overseas servers. While initial reports suggested that only 4,500 accounts were compromised, the tally soared to 33.7 million after an internal review. At a parliamentary inquiry, CISO Brett Mathis said the intruder had used a stolen private signing key to forge authentication tokens and impersonate legitimate users. He stressed that access was restricted to specific APIs and that there was no evidence of password changes, payment-system infiltration or deeper server compromise. Investigators believe the suspect to be a former employee of Chinese nationality — a detail that has intensified scrutiny of Coupang’s internal privilege controls, monitoring systems and employee off-boarding procedures. President Lee Jae Myung condemned the breach at a cabinet meeting, urging authorities to use “all possible tools” to prevent secondary damage and to establish accountability quickly. “It is shocking that such a massive leak remained undetected for five months,” he said, calling for stronger punitive-damage rules and a broad “paradigm shift” in digital-security standards across both public and private sectors. Public anger has mounted sharply. Online class-action communities have surged, with one forum attracting more than 70,000 members within a day of the disclosure. The scale of the breach — equivalent to roughly 65 percent of the Korean population — has sharpened the backlash. The incident has also reignited long-standing criticism of Coupang’s governance structure. Founder and chairman Bom Kim, who retains more than 70 percent of voting power through dual-class shares, has remained silent amid the controversy. Kim has long cited overseas residence to avoid parliamentary summons, fueling criticism that the company reaps near-total domestic revenues while sheltering behind U.S. legal structures — even as it faces recurring disputes over warehouse-worker deaths, platform-fee practices and regulatory probes. Recent revelations that Kim converted dual-class shares and cashed out about ₩5 trillion last year have intensified debate over responsibility versus reward. In Korea, Coupang could face fines of up to 3 percent of revenue — potentially around $1 billion — under the revised Personal Information Protection Act if government investigations conclude that lax oversight enabled the breach. In the United States, the company may also face scrutiny over whether it failed to comply with the SEC’s new rule requiring disclosure of “material cybersecurity incidents” within four business days. As of Monday, no such filing had been made, raising the prospect of further regulatory exposure. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-02 14:34:32