Journalist
Lee Hugh
=
-
Korea's Hyundai Motor Group relies on hybrid relief until EV appetite returns SEOUL, November 13 (AJP) - South Korea's Hyundai Motor Group has largely weathered headwinds from a sluggish electric-vehicle market and unfavorable U.S. tariff conditions by leaning aggressively into hybrid offerings. The group's two marques – Hyundai and Kia – sold 831,933 hybrid vehicles globally in the first nine months of 2025, up 27.2 percent from 654,067 units a year earlier, according to available data. At this pace, annual hybrid sales are projected to surpass 1 million units for the first time. Mid-size sport utility vehicles led the surge. The Tucson Hybrid sold 132,991 units and the Sportage Hybrid 120,054 units through September, rapidly replacing their gasoline counterparts in key markets including the United States and Europe. In exports, Tucson Hybrid sales were more than triple those of its gasoline equivalent. Hyundai said in its third-quarter earnings that robust SUV hybrid demand helped lift its U.S. market share to a record high, with hybrid sales up 3.6 percent on-year in the July–September period. Kia posted a 4.8 percent gain. The shift reflects mounting pressures on automakers from shrinking EV subsidies, higher battery costs, and tariff uncertainty. In the United States, where federal EV tax credits of up to $7,500 were eliminated last month, a wider industry pullback is unfolding. General Motors is reportedly weighing 1,200 job cuts at its Detroit EV plant, Ford Motor is reassessing its plan to build 200,000 EVs next year, and Nissan Motor has postponed the 2028 launch of two EV models. Hyundai halted production of the Genesis GV70 electric model at its Alabama plant and sharply increased output of the Santa Fe Hybrid, whose production jumped more than 140 percent to roughly 62,000 units through September. The automaker also launched the Palisade Hybrid in the U.S. in September. Since debuting in South Korea in April, the model sold 26,930 units through September, outpacing the gasoline version's 18,005 units. Hybrids are typically priced 3 million to 5 million won ($2,038–$3,397) higher than conventional vehicles but command stronger profit margins and face far less consumer resistance than fully electric models. The hybrid Palisade costs more than 5 million won above the gasoline version, yet delivers about 1.45 times greater fuel efficiency. Industry experts view hybrids as a pragmatic bridge during the transition to full electrification. "The biggest reason people prefer hybrid vehicles over electric vehicles is safety concerns. While hybrid vehicles do have batteries, they are comparatively smaller than those in full electric vehicles," said Lee Jae-won, a professor of energy engineering at Dankook University. "Charging remains an issue, as it takes much more time to fully charge an EV than to refuel a gasoline car. Given time, improved infrastructure and institutional support, we still believe electric vehicles will become the new norm," he said. Responding to questions about its hybrid push, Hyundai Motor Group said consumer hesitation around EVs remains strong and that hybrids serve as a necessary intermediate step. "We have been taking incremental steps toward electrification through hybrid vehicles rather than radical changes, and our strategy has aligned well to drive these successful hybrid sales," a Hyundai Motor Group spokesperson said. 2025-11-13 15:02:46 -
USD-KRW eases after testing above 1,1470 after verbal intervention SEOUL, November 13 (AJP) -The U.S. dollar softened after briefly topping 1,470 won during Thursday’s session in Seoul, as investment jitters eased following President Donald Trump’s signing of a bill to end the longest-ever U.S. government shutdown. The Korean won, already down 2 percent this month, initially faced renewed downward pressure as foreign investors took profits after their record stock buying, while the greenback strengthened on Washington’s return to normal operations. Selling by foreign investors — coupled with a weakening yen that underscored the recent pattern of bundling Korean and Japanese assets — further weighed on the local currency. But the removal of uncertainty surrounding the U.S. shutdown helped curb foreign stock selling and reversed the dollar’s direction, pushing it down to 1,467.70 won as of 1:20 p.m. Verbal intervention from Bank of Korea Governor Rhee Chang-yong also helped stabilize sentiment. In an interview with Bloomberg TV, Rhee cautioned that authorities could step in if currency movements become “excessive,” while noting that multiple forces — AI-driven stock volatility, dollar strength, Japan’s policy path, U.S.–China trade tensions, and Korea–U.S. investment frameworks — are simultaneously pressuring the exchange rate, limiting the scope for containing the won’s depreciation. Still, Min Kyung-won, an economist at Woori Bank, suggested signs of interventionist impact. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 13:36:57 -
Hankook Tire to supply tires for Volkswagen's new Tayron SUV SEOUL, November 13 (AJP) - South Korea’s Hankook Tire & Technology said on Thursday that it will supply original equipment tires for Volkswagen’s new crossover SUV, the Tayron. The new Ventus Evo SUV tires were developed in close technical collaboration with Volkswagen and are designed to deliver a quieter, more comfortable ride. Hankook said the tires feature an AI-developed compound that optimizes both performance and stability, while a specialized cuff design and tie-bars on the shoulder blocks reduce road noise. Advanced aramid materials and a redesigned tread pattern help improve handling and cornering performance at high speeds — attributes verified during testing at Germany’s Nürburgring Nordschleife, one of the world’s most demanding race circuits. The Ventus Evo SUV tires will be supplied in five sizes, from 18 to 20 inches, for the Tayron. Hankook Tire has been a key supplier to the Volkswagen Group, whose brands include Audi, Porsche, and Cupra. This year, Hankook began supplying tires for Volkswagen’s Tiguan, Porsche’s electric SUV Macan, and Cupra’s electric hatchback Born. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 13:36:56 -
Samsung showcases cinema screen technology at film festival in Los Angeles SEOUL, November 13 (AJP) - Samsung Electronics said on Thursday that it is serving as an official sponsor of the 11th Asian World Film Festival in Los Angeles, using the event to highlight its Cinema LED Onyx screen. The festival, which runs through Nov. 20 at the Culver Theater, features films from more than 30 Asian countries. Samsung’s Onyx screen — which uses self-emitting LED technology instead of a traditional projector — will be used for screenings throughout the week. Samsung said its Onyx display delivers “deeper contrast and more vivid color” than conventional projection systems, offering audiences greater visual clarity and brightness in both 2D and 3D formats. The company first introduced the technology in 2017 at Lotte Cinema World Tower in Seoul, and it is now installed at six theaters across South Korea. As part of the festival, Samsung will host a special session on Nov. 15 titled “Samsung Onyx: Redefining Cinema Experience,” exploring how LED cinema technology can enhance visual storytelling and audience immersion. “We hope filmmakers and audiences at the festival experience the future of cinema through the unparalleled immersion of Samsung Onyx,” said Jung Hoon, vice president of Samsung’s Visual Display Business. “We will continue to collaborate for the advancement of the film industry.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 13:25:56 -
Swedish embassy to spotlight this year's Nobel prize achievements SEOUL, November 13 (AJP) - A symposium spotlighting this year’s Nobel Prize laureates and their academic achievements will be held in Seoul on Monday, bringing together scholars and researchers from Korea and Sweden. Hosted by the Embassy of Sweden in Seoul and supported by the Sweden-Korea Education, Research, and Innovation Collaboration (SKERIC) and the Korean Academy of Science and Technology (KAST), the event aims to promote academic exchange while honoring the legacy of Alfred Nobel. SKERIC, a joint initiative run by eight major universities in both countries, supports young researchers and emerging innovators, helping them build international networks and strengthen their ability to address global challenges. The symposium will take place at Korea University at 2 p.m., where leading figures from both nations will gather for lectures and discussions. Experts from Korean and Swedish universities will speak on key themes from the 2025 Nobel Prizes — including physiology or medicine, chemistry, physics, economics and literature — while exploring ways to deepen cooperation in higher education, research and innovation. Established under the will of Swedish inventor Alfred Nobel, the Nobel Prize is widely considered one of the world’s most prestigious honors. Funded by Nobel’s estate built through his invention of dynamite, the prizes have been awarded since 1901 in physics, chemistry, physiology or medicine, literature and peace. “The Nobel Prize is about courage — the courage to push knowledge forward,” Swedish Ambassador to Seoul Karl-Olof Andersson said. “This symposium reflects the enduring friendship between Sweden and Korea, grounded in a mutual commitment to education, innovation, democracy and truth,” he added. 2025-11-13 12:45:58 -
Asian markets hardly move on Suneung Day, awaiting end of U.S. shutdown SEOUL, November 13 (AJP) - Asian markets were largely unmoved on Thursday as investors waited for confirmation of an end to the U.S. government shutdown. In Seoul, the KOSPI and KOSDAQ inched up to 4,153.35 and 911.88, respectively, as of 11:20 a.m. The market opened at 10:00 a.m.—one hour later than usual—due to the nationwide Suneung college entrance exam. The Korean won weakened further, with the dollar gaining 4.60 won to hit a new annual high of 1,474.1 won despite fresh verbal intervention from authorities. Large-cap stocks traded narrowly, with none among the top 10 names moving beyond a 1-percent range. Samsung Electronics rose 0.9 percent to 104,000 won ($71), while SK hynix gained 0.5 percent to 620,000 won. LG Energy Solution slipped 0.2 percent to 474,500 won, and Hyundai Motor eased 0.2 percent to 275,000 won. Entertainment agency HYBE surged 5.3 percent to 306,500 won following reports that all five members of NewJeans, under its subsidiary label ADOR, would return to the company. Meritz Securities raised its target price for HYBE to 380,000 won from 370,000 won, citing projected profit contributions of 6–7 billion won ($4.1–4.8 million) next year from NewJeans’ resumed activities and as much as 20–30 billion won annually from 2027. HYBE, valued at around 13 trillion won, manages top K-pop acts including BTS, SEVENTEEN, TOMORROW X TOGETHER, ENHYPEN, LE SSERAFIM, and ILLIT. On the KOSDAQ, ABL Bio soared 27.3 percent to 161,300 won after announcing a $2.6 billion technology transfer deal with U.S. pharma giant Eli Lilly for its Grabody-B bispecific antibody platform. Japan’s Nikkei 225 rose 0.5 percent to 51,336.57, supported by modest gains among automakers. Toyota and Honda each added 0.3 percent, Nissan rose 0.9 percent, while Sony climbed 1.3 percent. Fast Retailing fell 1 percent, and SoftBank extended declines with a 3.4 percent drop. In China, the Shanghai Composite slipped 0.1 percent to 3,995.66, while Hong Kong’s Hang Seng Index fell 0.3 percent to 26,844.56 amid continued caution across regional markets. 2025-11-13 11:33:28 -
PHOTOS: Record number of students sit for annual university entrance exam SEOUL, November 13 (AJP) - More than 550,000 students take the annual university entrance exam at around 1,300 test venues nationwide on Thursday. The number of test-takers increased by about 6 percent or 31,504 students, compared to last year, the highest in seven years since 2019, when 594,924 students took the exam. This is attributed to those born in 2007, known as the auspicious "Year of the Golden Pig," taking the exam, which is anticipated to make university admissions even more competitive. Moreover, the smaller medical school quotas this year are likely to heighten competition among the highest-scoring applicants. Reflecting the country's obsessive zeal for higher education, South Korea maintains a university enrollment rate of nearly 70 percent, ranking first among OECD countries for the 17th consecutive year. Given the significant impact that admission to prestigious universities can have on students' future careers and social status, the exam has become more than just a test, it is an annual "big day" for many South Koreans. Students perform at a high school in southern Seoul on Nov. 12, 2025, just a day ahead of the annual university entrance exam. AJP Yoo Na-hyun 2025-11-13 11:30:35 -
K Shipbuilding wins $333 million tanker orders from European clients SEOUL, November 13 (AJP) - South Korea’s mid-sized shipyard K Shipbuilding said on Thursday that it had signed contracts with two European shipping companies to build five tankers worth about $333 million. The orders, finalized on Nov. 6 and 12, include three 115,000-ton crude oil tankers and two 50,000-ton petrochemical tankers, the company said. All of the new vessels will comply with the International Maritime Organization’s standards for greenhouse gas emissions. “This order reaffirms our long-standing expertise and competitiveness in the medium-sized tanker sector,” the company said in a press release. “We will continue to strengthen our technology and quality to solidify our leading position in this market.” The deal adds to a strong year for K Shipbuilding, which has benefited from a global upswing in ship orders tied to energy transport and environmental upgrades. As of the third quarter of 2025, the company reported $670 million in cumulative sales. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 10:58:05 -
INTERVIEW: Korean economist sees AI as key to breaking out of low growth SEOUL, November 13 (AJP) - South Korea has a rare chance to escape years of sluggish growth if it can harness artificial intelligence as a new engine of productivity, according to Jeon Kwang-woo, chairman of the Institute for Global Economics and a former head of the Financial Services Commission. In an interview with Aju Business Daily, Jeon said the country’s economy — long constrained by an aging population, weak investment, and slowing exports — could find renewed momentum in the global race for AI leadership. “Artificial intelligence can be a catalyst for growth,” he said, adding that the challenge is to ensure that innovation “does not deepen inequality or social polarization.” South Korea’s economy expanded 1.2 percent in the third quarter, beating expectations. The Bank of Korea now estimates that if growth in the final quarter remains above minus 0.1 percent, full-year expansion could reach roughly 1 percent. The International Monetary Fund recently raised its 2025 forecast for South Korea from 0.8 percent to 0.9 percent, while global investment banks see growth in the 1 percent range. Even so, Jeon noted that South Korea continues to lag behind major economies, where growth averages 2 to 3 percent. “Low growth has become structural,” he said. To address it, he called for policies that boost labor productivity, technological competitiveness, and corporate investment, supported by a more dynamic financial system. Jeon pointed to recent developments in the AI industry as a promising sign. NVIDIA chief executive Jensen Huang’s plan to supply 260,000 GPUs to South Korea, he said, represents not only a technological opportunity but also a strategic hedge against U.S.–China tensions. “We must expand infrastructure such as data centers and energy supply to take advantage of this AI momentum,” Jeon said. South Korea’s government has pledged to make the country one of the world’s top three AI powers, but Jeon cautioned that fiscal prudence will be essential. “Spending must focus on areas with strong multiplier effects, such as AI infrastructure,” he said. “Excessive cash handouts could undermine financial stability.” He also warned of potential labor market polarization as automation advances. “AI will reduce labor demand in some sectors,” he said. “The government and businesses should prepare through retraining programs and stronger safety nets for vulnerable groups.” Despite concerns about a possible AI bubble, Jeon remains optimistic that the technology will continue to drive exports — especially in semiconductors — and lift South Korea’s growth to the upper 1 percent range next year. But he cautioned that policy uncertainty and geopolitical risks, including renewed U.S.–China tariff tensions, could still weigh on the outlook. “AI is not a guarantee of growth,” he said. “It’s an opportunity — one we must seize carefully, with both innovation and inclusion in mind.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 10:37:59 -
North Korean, Laotian FMs meet in Pyongyang to strengthen ties SEOUL, November 13 (AJP) - The foreign ministers of North Korea and Laos met in Pyongyang to discuss ways to strengthen bilateral cooperation, the state-run Korean Central News Agency (KCNA) reported on Thursday. North Korean Foreign Minister Choe Son-hui and her Laotian counterpart Thongsavanh Phomvihane pledged to implement agreements reached by their leaders in October to strengthen friendship and cooperation between the two countries, according to KCNA. Their meeting, which was followed by a banquet dinner in a friendly atmosphere, appears to be a follow-up to last month's summit between North Korean leader Kim Jong-un and Laotian President Thongloun Sisoulith in Pyongyang. North Korea has been expanding its diplomatic relations with traditional allies such as Laos and Viet Nam, while also strengthening ties with China and Russia. Laos has maintained close ties with North Korea since establishing diplomatic relations in June 1974. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 10:24:20