Journalist
Lee Hugh
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UPDATE: Korea's factory output and investment slump Oct on stalled chip activity SEOUL, November 28 (AJP) - South Korea’s factory output in October shrank at the steepest rate in five years, while facility investment tumbled by double digits — all tied to stalled chip activity — further underscoring the country’s heavy reliance on the semiconductor sector for economic performance, data showed Friday. According to the Ministry of Data and Statistics, mining and manufacturing output fell 4 percent on month, the steepest drop since the 7.5 percent decline in May 2020. Output was also down 8.1 percent on year, the sharpest contraction since April 2023, when global supply disruptions hampered production lines. The slump was led overwhelmingly by semiconductors. Chip output plunged 26.5 percent on year, marking the biggest contraction in 43 years amid tightening in supply of legacy chips as Korean foundries redirect capacity toward long-term AI and data-center clients and shift resources to higher-performance lines. Excluding semiconductors, overall manufacturing output would have risen 1.1 percent. The dismal figures reverberated through financial markets. As of 1:30 p.m., the KOSPI had retreated 1.5 percent, while the Korean won weakened 2.8 won against the U.S. dollar. The yield on three-year government bonds jumped 6.7 basis points to end the morning trade at 3.08 percent. The downturn extended beyond manufacturing. Service-sector output slipped 0.6 percent on month, contributing to a 2.5-percent industry-wide decline, the steepest since February 2020 at the onset of the pandemic. Facility investment posted an even sharper drop. Investment fell 14.7 percent on month, the largest decline in four years since the 16.7-percent plunge in October 2020. Spending on machinery — including semiconductor equipment — decreased 12.2 percent, while investment in transportation equipment such as automobiles and ships fell 18.4 percent. The ministry cited a high base effect and suspended capital expenditure amid delays in tariff negotiations between Seoul and Washington. Construction investment was also weak, tumbling 20.9 percent, the largest contraction on record. Signaling a protracted slowdown, industrial orders dropped 41.6 percent on year. The ministry attributed the fall to sharply higher procurement costs from the weakened currency and subdued housing demand following tighter real estate regulations. Retail sales offered the sole bright spot, rising 3.5 percent on month partly driven by the second round of government stimulus vouchers. Cyclical indicators pointed to continued weakness. The coincident index fell 0.4 percent, indicating an ongoing slowdown, while the leading index remained flat, suggesting that the economic outlook ahead remains uncertain. 2025-11-28 14:07:47 -
PHOTOS: History in miniature SEOUL, November 28 (AJP) - At the entrance, a large Lego poster reading “Daehan Independence Manse” comes into view. Next to it sits a tiny corner shop marked “Jeongdong Stationery,” its shelves packed with marble games, ice cream buckets, paper cards, and cotton candy. The miniature space feels like a small time capsule, carrying the warmth of the years it represents. Inside the special exhibition hall, visitors walk through a large Lego Independence Gate and enter another world. Marking the 79th anniversary of liberation, the hall brings together Lego-made scenes of historic moments and the figures who shaped them. Scenes such as Yun Bong-gil’s Hongkou bombing, the March 1 Independence Movement with Yu Gwan-sun, group photos of returning Provisional Government officials, Ahn Jung-geun’s shooting of Ito Hirobumi, and Admiral Yi Sun-sin during the Imjin War are recreated in colorful Lego blocks. Tiny figures gather in front of the Lego Independence Gate waving “manse,” and the white hanbok worn by Yu Gwan-sun is instantly recognizable even in miniature. Children stand in front of the Lego displays with bright eyes, listening to stories of history. Meeting independence activists through Lego instead of textbooks makes the figures feel far more familiar. One child lingers at the Ahn Jung-geun exhibit, pointing at the bricks one by one and asking questions. Rows of 1960s and 1970s school uniforms, textbooks, backpacks, and lunchboxes fill the permanent exhibition. The recreated classroom scene is especially striking — the anti-fire and anti-communism posters on the back wall, metal lunchboxes warming on a central stove, the national flag and class mottos, and a timetable posted next to a map of Korea. The details make the space feel like a doorway into another decade. A diorama of a school sports day fills one section — obstacle races, horseback fights, relays. The tiny figures look almost alive. Under a tree, a family shares lunch with kimbap and soda. Though only a few centimeters tall, the little scene carries the energy and joy of a whole era. A permanent exhibition tracing Korea’s education history from the Three Kingdoms period to today shows how learning has shaped national identity — from Goguryeo’s Taehak and Goryeo’s Gukjagam to Joseon’s Sungkyunkwan, through the colonial era and into the modern day. The visit lasts little more than an hour, but the impression lingers — a stationery shop, a schoolyard festival, scenes of independence carved from Lego, and a classroom restored with care. Together they turn the past into something close enough to touch. 2025-11-28 14:00:01 -
AI now essential in Korea's job market for both recruiters and applicants SEOUL, November 28 (AJP) - Artificial intelligence is rapidly becoming indispensable in South Korea’s job market, with four out of five companies now using AI tools in their hiring processes and a growing majority of job seekers relying on AI to boost their recruitment chances. The Ministry of Employment and Labor and the Korea Employment Information Service on Tuesday released the second part of their 2025 Corporate Hiring Trends Survey, conducted from Aug. 1 to Sept. 1. The survey covered HR managers at the top 500 companies by revenue and 3,093 young employees across 17 regions, focusing on AI usage in human resources. Among the 396 companies that responded, 86.7 percent use AI tools in HR either officially or unofficially. Of the 163 companies using AI formally, 52.8 percent apply it in hiring, followed by training (45.4 percent) and handling HR inquiries (45.4 percent). Among the 86 firms using AI specifically for hiring, 69.8 percent rely on AI-based aptitude or competency tests. Nearly half use AI to review application documents (46.5 percent) or during interviews (46.5 percent). Looking ahead, 74.5 percent of companies plan to adopt or further expand AI tools in hiring — with most focusing on AI-based tests (67.5 percent), document screening (63.4 percent), and managing the overall recruitment pipeline (55.6 percent). By contrast, 25.5 percent have no plans to introduce AI, mainly due to concerns over fairness and objectivity (36.6 percent) or a belief that final hiring decisions should remain human-led (19.8 percent). On the applicant side, 42.3 percent of young job seekers have used AI tools — mostly for writing résumés and cover letters (77.2 percent), interview preparation (36.4 percent), and company research (31.0 percent). Of them, 86.6 percent said AI tools were helpful. AI use is also spreading among young employees at work: 61.8 percent reported using AI for tasks like research and idea generation (63.6 percent), document creation (58.1 percent), and data analysis (35.4 percent). The government plans to introduce ethical guidelines and checklists for AI-based hiring by the end of the year and expand AI-related training for young people through programs such as the Tomorrow Learning Card. “As the AI ecosystem evolves rapidly, its use in hiring is diversifying,” said Lim Young-mi, Director of Employment Policy. “The government will support companies in adopting AI for fairer hiring and create more opportunities for young people to build AI-related skills.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 13:54:41 -
Hyundai Motor Group to set up battery research center in Anseong SEOUL, November 28 (AJP) - Hyundai Motor Group has unveiled plans to build a major battery research and development hub in Anseong, south of Seoul. The company held a groundbreaking ceremony on Friday for the “Future Mobility Battery Anseong Campus,” located in the city’s fifth industrial complex. Construction began in January, with Hyundai investing 1.2 trillion won in a facility spanning 197,000 square meters. Completion is targeted for late 2026. The Anseong campus will be Hyundai’s first large-scale R&D center dedicated entirely to battery technologies. The facility will house advanced testing equipment to evaluate battery performance, durability and safety under real-world operating conditions, reflecting the industry’s intensifying focus on battery innovation as competition in electric mobility deepens. Hyundai said the center will spearhead development of high-performance lithium-ion cells for next-generation electric vehicles, while expanding research into future mobility fields including robotics and advanced air mobility. The company expects the project to reinforce South Korea’s battery ecosystem and bolster national competitiveness in the global EV race. The initiative follows Hyundai’s August agreement with the country’s major battery makers — LG Energy Solution, Samsung SDI and SK On — to collaborate on technologies aimed at improving EV battery safety. The partnership is part of the broader “K-battery” alliance designed to enhance domestic cooperation in key mobility technologies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 13:38:35 -
Nexon shares fly in Tokyo with cap nearing $20 bn on strong pipeline SEOUL, November 28 (AJP) - Tokyo-listed shares of South Korean game publisher Nexon have hit their highest level since 2021, sending its market valuation of around $20 billion as investors rally behind its live-service games and global expansion strategy of CEO Lee Jung-hun. Nexon shared closed Thursday at ¥3,768 on the Tokyo Stock Exchange, lifting its market cap above ¥3.1 trillion (around $19.8 billion) and extending an upward trend that began after its strong third-quarter earnings announcement on Nov. 11. The surge reflects growing market confidence in Lee’s roadmap, first outlined at the Tokyo Capital Market Briefing in September last year. The strategy aims to extend the lifecycle of existing hit franchises while aggressively developing new IP, setting a target of ¥750 billion in sales by 2027. Since its announcement, Nexon’s market value has increased by more than 30 percent, underscoring the degree to which investors view Nexon as a global IP powerhouse rather than a Korea-centric game publisher. Live-service games remain a major engine of growth. MapleStory revenue tripled year over year, driven by user-focused updates and closer community communication, while Dungeon & Fighter and the FC sports franchise continued to deliver steady performance. Nexon also widened its portfolio with cross-genre hits such as the indie-style adventure Dave the Diver and the subculture favorite Blue Archive, reinforcing its ability to sustain multiple audiences and platforms simultaneously. This year, Nexon’s “horizontal growth” has come into clearer focus as the company evolved into a multi-platform publisher spanning mobile, PC, and console. Mabinogi Mobile, released in March, captured the original game’s spirit and won the Grand Prize at the 2025 Korea Game Awards. First Berserker: Kazan, also launched in March, secured top honors for creativity and technical achievement. In the second half, Swedish subsidiary Embark Studios released Arc Raiders globally on Oct. 30, selling more than four million copies by mid-November. The idle RPG Maple Growing, launched on Nov. 6, delivered strong initial momentum, adding further diversity to Nexon’s gaming ecosystem. Looking ahead, Nexon is preparing a robust pipeline intended to carry its momentum into the next several years. Vindictus: Defying Fate, a leading demo at Steam Next Fest in June, has demonstrated the potential for extending the Mabinogi IP into new markets. New titles tied to the Dungeon & Fighter universe—including Project Overkill and Dungeon & Fighter: Arad—are scheduled for release through 2027. The company is also developing new IP such as the zombie-survival title Paradise: LAST PARADISE and Nexon Games’ narrative-driven Uchi the Wayfarer. “We plan to accelerate growth across both core franchises and new IPs under our expansion strategy,” CEO Lee said during the third-quarter earnings call, emphasizing that a diversified and globally scalable portfolio will reinforce Nexon’s long-term stability in the international market. Japanese securities analysts expect Nexon to post record fourth-quarter and annual results, forecasting continued momentum in both live-service revenue and new releases. With its expanded global pipeline and renewed franchise strength, Nexon is increasingly viewed as a regional IP leader reshaping the trajectory of Korea’s gaming sector. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-28 13:14:09 -
Asian stocks open lower as Wall Street closes for Thanksgiving SEOUL, November 28 (AJP) - South Korea's benchmark KOSPI opened lower on Friday morning, dropping 1 percent to 3,947.53. The decline was driven by foreign investors offloading shares worth a net 260.9 billion Korean won (US$17.8 million), while domestic retail and institutional investors bought a net 258.1 billion won and 9.4 billion won, respectively. But the tech-heavy junior KOSDAQ began the day higher, gaining 3 percent to 906.31 and extending a three-day upward trend. Among blue chips, Samsung Electronics lost 2 percent to 101,400 won ($69) and SK hynix declined 1.5 percent to 536,000 won. Shares of LG Energy Solution dropped 5.4 percent to 414,500 won, while Samsung Biologics shed 1.3 percent to 1.62 million won. Doosan Enerbility slipped 0.8 percent to 77,000 won. HD Hyundai Heavy Industries retreated 2.9 percent, Hanwha Aerospace fell 1.5 percent, and Naver dropped 2.4 percent. By contrast, automakers edged higher. Hyundai Motor rose 0.8 percent to 263,500 won and Kia added 0.3 percent to 114,350 won. Entertainment stocks rose across the board. The country's entertainment behemoth HYBE climbed 1.2 percent to 301,000 won, JYP Entertainment jumped 3.7 percent to 67,600 won, SM Entertainment 3.1 percent to 105,500 won, and YG Entertainment 3.4 percent to 64,300 won. Meanwhile, U.S. markets were closed overnight for the Thanksgiving holiday, with both equity and bond trading shut for the federal observance. In Japan, Tokyo's Nikkei 225 declined 0.2 percent to 50,053.85, about an hour after the day's trading session. Major Japanese companies had a mixed start, with shares of Toyota Motor slipping 0.2 percent to 3,131 yen ($20) and SoftBank Group dropping 1 percent to 16,670 yen. Meanwhile, Honda Motor rose 1.1 percent to 1,575 yen, and Nintendo gained 1 percent to 13,305 yen. In China, Shanghai Composite Index fell 0.4 percent shortly after the open to 3,861.68, while Hong Kong's Hang Seng Index dropped 0.2 percent to 25,882. 2025-11-28 11:46:31 -
Lawmaker Jang Kyung-tae accused of sexual assault SEOUL, November 28 (AJP) - Lawmaker Jang Kyung-tae of the ruling Democratic Party has been embroiled in a sexual assault scandal after a complaint was filed with police. According to the Seoul Metropolitan Police Agency, Jang allegedly sexually harassed a woman at a gathering in Seoul late last year. Jang immediately denied the allegations, posting a message on Facebook saying, "I will firmly respond including legal action against these false accusations." In response to the allegations, the party's leader Jeong Cheong-rae has ordered an internal investigation. Meanwhile, rumors have been circulating that Lee Jun-seok, the leader of the minor centrist Reform Party, was also at the gathering. Lee has vowed to take legal action for defamation against those spreading what he called "false information." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 11:09:18 -
Fresh cold snap grips nation SEOUL, November 28 (AJP) - A cold snap swept across the country on Friday, with morning temperatures dropping below zero and strong winds making it feel even colder. According to the Korea Meteorological Administration, cold air from the northwest caused temperatures to plunge below the seasonal average. In some central regions, temperatures fell 5 to 7 degrees Celsius, compared to the previous day. While temperatures are forecast to rise slightly in the afternoon, most regions will see fluctuations of over 10 degrees Celsius between morning lows and daytime highs. Daytime highs are expected to range from 5 to 12 degrees, with Seoul at 7 degrees, Daejeon at 9 degrees, Daegu at 10 degrees, and Busan at 12 degrees. Most regions will see winds exceeding 55 km/h, with gusts over 70 km/h expected in the mountainous areas of Gangwon. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-28 10:40:20 -
Hanwha Ocean secures $725 million order for 4 container ships from HMM SEOUL, November 28 (AJP) - South Korea’s Hanwha Ocean announced Friday that it has secured a $725 million (1.07 trillion won) order from HMM to build four container ships. The deal is part of HMM’s broader strategy to transition to eco-friendly vessels and bolster the competitiveness of South Korea’s shipping and shipbuilding sectors. Hanwha Ocean said it will leverage its advanced container ship construction technology and extensive project experience to deliver high-value vessels. This latest order brings Hanwha Ocean’s total confirmed ship orders to 41, including 17 very large crude carriers, 17 container ships, six LNG carriers, and one icebreaker research vessel, with a combined value of approximately $7.7 billion. The company’s growing order book reflects strong demand for advanced and environmentally friendly vessels amid rising global shipping regulations and the industry’s shift toward decarbonization. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 10:24:17 -
South Korea forms council to speed up development of next-generation aircraft engine SEOUL, November 28 (AJP) - South Korea is accelerating efforts to develop next-generation aircraft engines. The Ministry of Trade, Industry and Energy said Friday it, together with related government bodies, inaugurated a council to review development plans for advanced propulsion systems for future fighter jets and streamline cooperation across ministries. Only a handful of countries — including the United States, the United Kingdom, France and Russia — possess homegrown aircraft engine technology. The sector requires heavy investment, long development timelines and strict regulatory oversight, making it one of the most strategically sensitive areas in defense manufacturing. Officials say domestic development could significantly cut maintenance costs currently paid to overseas suppliers and strengthen the export competitiveness of Korean-built fighter aircraft. In January, the Defense Acquisition Program Administration (DAPA) set out a preliminary roadmap for the program, outlining priorities such as workforce training and the establishment of core infrastructure. The newly formed council will work to avoid budget duplication among agencies and will hold regular discussions on major R&D challenges. Lee Sun-hye, a senior official at the trade ministry, said technological self-reliance and supply-chain stability were essential for the program’s success. Choi Seung-wook of the Ministry of Land, Infrastructure and Transport stressed that securing proper certification would be crucial for both domestic deployment and overseas sales. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 10:17:57