Journalist

Lee Hugh
  • NCSoft to roll out new role-playing game Aion 2 in Korea, Taiwan, Nov. 19
    NCSoft to roll out new role-playing game 'Aion 2' in Korea, Taiwan, Nov. 19 SEOUL, November 18 (AJP) - South Korea's leading game company NCSoft said Tuesday it will launch Aion 2, its new flagship multiplayer online role-playing game, in South Korea and Taiwan at midnight on Nov. 19, positioning the title as a major addition to its 2024–25 pipeline. Players can pre-install the game through NCSoft’s cross-platform service, Purple, ahead of the release. Aion 2 follows the company’s long-running PC franchise Aion, which built a strong global fan base with its fantasy setting and aerial combat system. The sequel seeks to expand the original universe, retaining its core features — a rivalry between two factions and eight combat classes — while updating the overall design for modern platforms. Built on Unreal Engine 5, the game offers enhanced graphics and supports exploration across land, air and underwater environments. It also introduces action-focused combat, a broader range of hunting and adventure content and more detailed character customization, reflecting NCSoft’s efforts to sharpen its competitiveness in the global MMORPG market. “Aion 2 embodies the ideal world envisioned by the original, where players can walk, fly and swim endlessly,” said Baek Seung-wook, the game’s executive producer. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 14:48:40
  • Choo Shin-soo becomes first South Korean nominated for MLB Hall of Fame
    Choo Shin-soo becomes first South Korean nominated for MLB Hall of Fame SEOUL, November 18 (AJP) - Slugger Choo Shin-soo has become the first South Korean baseball player nominated for the Major League Baseball (MLB)'s Hall of Fame. According to a list released by the Baseball Writers' Association of America (BBWAA) on Monday, Choo is among 27 candidates, 15 holdovers and 12 newcomers, being considered for induction in July next year. To be eligible, candidates must have played in MLB for at least 10 years and have been retired for more than five years. They also need to receive at least 75 percent of the vote from BBWAA members with over 10 years of experience. Voting runs through Dec. 31, with results to be announced on Jan. 20. Choo, who currently serves as an adviser for the Incheon-based SSG Landers after retiring at the end of last year, is the first South Korean and the fourth Asian player to be nominated for the honor. Pitchers Park Chan-ho, who spent 17 seasons in MLB, and Kim Byung-hyun, a two-time World Series winner, were never nominated despite their achievements. Making his MLB debut with the Seattle Mariners in 2005, he played 16 seasons, posting a .275 batting average with 1,671 hits, 218 homers, and 157 steals in 1,652 games. 2025-11-18 14:32:02
  • Koreas household debt hits new high but loan growth slows sharply in 3Q
    Korea's household debt hits new high but loan growth slows sharply in 3Q SEOUL, November 18 (AJP) - South Korea’s household debt climbed to a record level in the third quarter, though the pace of borrowing eased markedly as tighter regulations took hold, preliminary data from the Bank of Korea showed Tuesday. Household credit rose to 1,968.3 trillion won ($1.43 trillion) at the end of September, up 14.9 trillion won from the previous quarter. The increase was roughly half the 25.1 trillion won rise recorded in the second quarter, reflecting the impact of recent lending curbs. Household credit encompasses loans from banks and non-bank financial institutions as well as credit card spending. Despite repeated warnings of debt growth, overall household credit has now expanded for six consecutive quarters, driven largely by mortgage borrowing. Household loans excluding card spending increased 12 trillion won to 1,845 trillion won, with home loans accounting for almost the entire gain — up 11.6 trillion won. Other borrowing, including unsecured loans, inched up 300 billion won. Kim Min-soo, who heads the central bank’s financial statistics team, said June’s regulatory measures — designed to slow mortgage demand and cap unsecured borrowing at levels tied to borrowers’ annual income — helped temper overall credit growth. Meanwhile, credit card spending climbed by 3 trillion won, buoyed by a rebound in private consumption and increased holiday-season purchases. Kim noted that rising value-added tax payments also contributed to the higher card usage. The Bank of Korea expects mortgage loan growth to cool further in the fourth quarter as additional measures introduced in October take effect, including stricter limits on high-value loans and borrower leverage. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 14:16:47
  • Wemade to build global game item platform with Japanese AI firm
    Wemade to build global game item platform with Japanese AI firm SEOUL, November 18 (AJP) - South Korean game developer Wemade has signed an agreement with Japan’s Quantum Solutions to build a global platform for secure trades of in-game items, expanding its push into blockchain-based gaming infrastructure. The memorandum of understanding, announced Tuesday, brings together Wemade’s gaming portfolio and Quantum Solutions’ capabilities in AI infrastructure and blockchain security. Quantum Solutions has drawn investment from major global players, including Ark Invest, bolstering its credentials in digital asset management. Under the partnership, the companies plan to develop a global game item trading platform that will support titles such as Legend of YMIR, Night Crows and MIR4. All transactions will be logged on an Ethereum-based blockchain, a move the firms say will ensure transparency and prevent tampering. The two sides also intend to integrate AI tools that allow users to create new items within Wemade’s game worlds, with the assets usable during gameplay — expanding both customization and potential revenue streams. “We will continue to collaborate with various partners to broaden the blockchain gaming ecosystem and strengthen our technological competitiveness,” Wemade said in a press release. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 13:44:00
  • Seoul shivers in seasons first subzero temperatures
    Seoul shivers in season's first subzero temperatures SEOUL, November 18 (AJP) - Subzero temperatures swept across the country on Tuesday, with the mercury in Seoul dropping to -2 degree Celsius. According to the Korea Meteorological Administration, morning lows plummeted about five to ten degrees colder than the previous day as a cold air front descended from the north overnight. Most inland regions and eastern Gangwon areas were also gripped by subzero temperatures, with Goseong at -12.1 degrees, Yeoncheon at -8.2 degrees, and Paju at -8 degrees, while strong winds made it feel even colder. The cold snap, which came about 10 days after Ipdong, a day known as Ipdong or the beginning of winter in the lunar calendar, is expected to linger this week, with daytime highs remaining between 4 degrees and 11 degrees in most regions. The cold snap, which came about 10 days after Ipdong, a day known as the beginning of winter in the lunar calendar, is expected to linger this week, with daytime highs remaining between 4 degrees and 11 degrees nationwide. 2025-11-18 11:26:58
  • Asian shares slide as Nvidia-linked stocks tumble; Baby Shark creators KOSDAQ debut modest
    Asian shares slide as Nvidia-linked stocks tumble; Baby Shark creator's KOSDAQ debut modest SEOUL, November 18 (AJP) - Asian markets fell broadly on Tuesday morning, dragged down by sharp losses in Nvidia-linked stocks after renewed selling by major U.S. hedge funds, while the “Baby Shark” creator’s KOSDAQ debut drew less fanfare than expected. South Korea’s benchmark KOSPI dropped 1.55 percent to 4,025.95 as of 10:30 a.m., pressured by reports that Thiel Macro — the hedge fund founded by Palantir Technologies chairman Peter Thiel — had liquidated its entire Nvidia stake. Additional reports that several hedge funds were trimming exposure to the Magnificent 7 (M7) further weighed on sentiment. Foreign investors, who often adjust their positioning in Korean chipmakers based on Nvidia developments, sold 13 billion won ($8.9 million) worth of local shares. Institutions offloaded a larger 178 billion won, while retail investors stepped in to buy dips with net purchases of 167 billion won. Tech bellwethers Samsung Electronics and SK hynix both declined. Samsung eased 1 percent to 99,600 won, while SK hynix fell 4 percent to 582,000 won, marking the steepest drop among major constituents. In contrast, shipbuilding stocks continued to climb following last week’s bilateral tariff-negotiation factsheet that boosted expectations for expanded defense cooperation. HD Hyundai Heavy Industries, a key producer of military submarines, rose 3.3 percent to 625,000 won, while Hanwha Ocean added 1 percent to 132,300 won. The KOSDAQ fell 1.47 percent to 889.3. The Pinkfong Company — globally known for its viral hit “Baby Shark” — made its KOSDAQ debut, jumping 36.3 percent from its IPO price to 51,800 won even as most other mid- to large-cap names traded lower. Japan’s Nikkei 225 also slumped under heavy selling pressure, falling 2.1 percent to 49,279 as of 10:30 a.m. Nvidia-linked stocks led the declines in Tokyo as well: chip-testing equipment maker Advantest slid 2.3 percent to 19,540 yen ($125.9), while Tokyo Electron tumbled 4 percent to 31,960 yen. Chinese markets posted comparatively mild declines but remained weighed down by persistent concerns over economic stagnation. The Shanghai Composite Index opened 0.19 percent lower at 3,965, showing no post–Singles’ Day lift, while the Shenzhen Composite slipped 0.34 percent to 13,160. Taiwan’s TAIEX fell 0.88 percent to 27,206, and Hong Kong’s Hang Seng Index dropped 1.12 percent to 26,090. 2025-11-18 11:21:41
  • Hyosung to expand high-voltage transformer plant in US
    Hyosung to expand high-voltage transformer plant in US SEOUL, November 18 (AJP) - Hyosung Chairman Cho Hyun-joon is moving to turn the company’s Memphis transformer plant into the largest facility of its kind in the United States, as demand for high-voltage equipment rises alongside the nation’s aging grid and a rapid build-out of AI-driven data centers. Hyosung Heavy Industries said Tuesday it will invest $157 million to boost the plant’s production capacity by more than 50 percent by 2028. The expansion is part of Cho’s strategy to position the company for what he calls the era of “AI-powered power infrastructure.” Including the latest investment, Hyosung has committed roughly $300 million to the Memphis site since acquiring it in 2020. The factory is the only U.S. facility capable of both designing and manufacturing 765kV transformers — equipment that reduces transmission losses more effectively than the more common 345kV or 500kV units. Hyosung has held a leading share of the U.S. 765kV transformer market since the early 2010s. Demand for high-capacity transformers is projected to surge as utilities upgrade outdated systems and AI expansion drives heavy load growth. The U.S. transformer market is forecast to grow at an annual rate of 7.7 percent, doubling from $12.2 billion in 2024 to $25.7 billion by 2034, according to the company. Hyosung said the expansion will strengthen its U.S. supply chain footprint, enabling quicker delivery of grid-critical equipment and cementing its position among the world’s top power-equipment suppliers. High-voltage transformers play a central role in stepping up and down voltage during transmission, directly affecting grid stability and efficiency. Cho, who pushed ahead with the 2020 acquisition, said local production will be essential for long-term competitiveness. “The future of the power industry lies in managing not just equipment but power flow, storage and system stability,” he said in a press release. “This expansion will solidify our position as the No. 1 global total-solution provider.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 11:07:31
  • Korean institutions primary driver of KOSPI gain and reap big from their long bet
    Korean institutions primary driver of KOSPI gain and reap big from their long bet SEOUL, November 18 (AJP) - South Korean institutional investors have emerged as the primary force behind the KOSPI’s world-leading rally this year, reaping sizable gains from their long-position strategy fueled largely through exchange-traded funds (ETFs). Domestic financial institutions made aggressive bets on Korean equities via ETFs, significantly boosting their bottom line. According to the Korea Exchange, foreigners have been net sellers of 5.86 trillion won (around $4 billion) and retail investors 13.19 trillion won so far this year, taking profits after the record-setting rally. Despite this offloading, the KOSPI has maintained one of the strongest performances among major global indices — rising more than 60 percent — thanks to steady long positioning by local institutions, predominantly financial investment firms. Institutions purchased a net 8.61 trillion won this year, with financial investment accounts alone buying 19.09 trillion won. Financial funds maintained a net-buying stance for most of the year except January. Financial investment accounts refer to brokerage-run proprietary trading divisions that execute arbitrage, hedging, and market-making strategies. Their yearly positions typically net out to near zero, but the surge of ETF inflows has shifted that pattern. When money flows into ETFs, brokers are required to buy the underlying stocks, and these purchases appear in market-making accounts — contributing to consistent net buying by financial investment firms. Analysts note this ETF-driven structure is now offsetting the impact of foreign selling. Even with foreigners unloading around 9 trillion won this month, passive ETF inflows have kept the KOSPI’s upward momentum intact. Passive funds do not shift positions abruptly, reducing the risk of sharp corrections. “The influence of financial investments and ETF flows is becoming more significant than foreign investors in driving the domestic stock market,” said Heo Jae-hwan of Eugene Investment & Securities. “This structure helps limit the downside even if the pace of gains slows.” The long-term bet has been especially lucrative for insurers, who account for a large share of Korea’s typically-long institutional capital. According to the Financial Supervisory Service's electronic disclosure system, Hanwha Life Insurance posted accumulated net profit of 768.9 billion won as of September, up 5.8 percent from a year earlier. Its investment income more than doubled, jumping from 195.6 billion won to 582.2 billion won. Samsung Life’s net profit rose 3 percent to 2.232 trillion won in the third quarter, despite a 6.7-percent drop in insurance profit, as investment income expanded 9 percent to 1.38 trillion won. Kyobo Life also reported a 1.2-percent rise in net profit to 904.1 billion won, driven by an almost 50-percent surge in investment returns. Shinhan Life logged the strongest growth among insurers, with net profit up 10 percent to 514.5 billion won as investment income more than doubled to 128.6 billion won. 2025-11-18 11:00:58
  • Half of high-ranking officials own multiple homes
    Half of high-ranking officials own multiple homes SEOUL, November 18 (AJP) - Nearly half of high-ranking government officials including lawmakers own two or more homes, a recent analysis shows. The analysis of some 2,581 senior officials, released by corporate tracker Leaders Index on Tuesday, found that 48.8 percent hold multiple homes, with 17.8 percent owning at least three. Real estate accounts for 58.7 percent of their total assets estimated at 5.71 trillion won. Apartments make up 58.9 percent, followed by sprawling private residences at 16.6 percent, multi-unit buildings at 8.6 percent, and others. Government officials own an average of 1.89 homes each, local government heads 1.87, and lawmakers 1.41. Nearly 30 percent of these properties, worth 1.33 trillion won, are concentrated in Seoul's affluent districts of Gangnam, Seocho and Songpa, south of the Han River. Cho Sung-myung, a district chief of Gangnam, owns the most properties, with 42 residential units and buildings. Among lawmakers, Park Min-kyu of the ruling Democratic Party (DP) owns the most, with more than a dozen properties including an apartment in Seocho and 11 studios in Gwanak, southwestern Seoul. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 10:40:38
  • LG H&Hs wearable skincare device wins CES Innovation Award
    LG H&H's wearable skincare device wins CES Innovation Award SEOUL, November 18 (AJP) - LG H&H's wearable skincare device “Hyper Rejuvenating Eye Patch” has been named the winner of CES 2026 Innovation Award in the beauty tech category, the company said Tuesday. The product combines skin-analysis algorithms, customized ingredient delivery and controlled light therapy in a lightweight wearable. The system comprises an AI-based skin diagnosis program, a bio-mimicking patch, a flexible LED patch and a headband controller. To use the device, AI scans and interprets aging indicators — including fine lines, wrinkles and dark circles — drawing on a database of 60,000 individuals. It then recommends specific cosmetic ingredients and delivers them to the skin through a suction-inspired patch designed to boost absorption. The patch technology was first introduced in April by the company’s luxury brand, The History of Whoo, under the name “Skin Activator Patch.” “We will continue integrating personalized solutions with next-generation wearables to deliver new customer experiences through future beauty tech research,” said Kang Nae-kyu, chief technology officer at LG H&H. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-18 10:34:39