Korean won nears 1,500, reshaping export gains and deepening cost pains across industries SEOUL, November 24 (AJP) - The Korean won’s slide toward the 1,500-per-dollar mark — a level touched only during crisis periods — is raising alarms for a trade-dependent economy where a cheaper currency now delivers diminishing benefits to exports while magnifying cost burdens for companies with massive U.S. investment plans. According to Bank for International Settlements data, Korea’s real effective exchange rate (REER) fell to 89.09 at the end of October, the lowest since August 2009. A REER below 100 signals an undervalued currency, and the index is expected to drop further for November after the dollar gained more than 3 percent over the past month. FX dynamics no longer guarantee an export lift In past cycles, a weaker won reliably boosted Korean exporters by enhancing price competitiveness against Japanese and European rivals. Today, the equation is more complicated. A disproportionately weak currency can distort costs, compress margins, and aggravate balance-sheet stress — especially for conglomerates juggling multi-billion-dollar commitments tied to the $350 billion U.S. investment package negotiated as part of the tariff deal. Economists say the latest bout of weakness reflects both global and domestic factors. “The dollar is strong everywhere, but the won has weakened more sharply than peers like the yen,” said Jang Bo-sung, research fellow at the Korea Capital Market Institute. He cited Korea’s surge in overseas equity investment and exporters’ reluctance to convert dollar-denominated proceeds as key reasons for the tight FX supply. “This looks more like a supply–demand imbalance than a structural collapse,” he said, suggesting the slide is driven more by near-term flows than a long-term depreciation trend. Chipmakers: higher dollar revenue, higher dollar costs A strong dollar carries mixed implications for semiconductor firms, which account for a quarter of Korea’s exports and derive significant revenue from the U.S. — an estimated 70 percent for SK hynix. While a stronger dollar lifts reported earnings, it also raises import costs for materials, equipment, and R&D inputs, limiting net benefits. “Semiconductors and shipbuilding are industrial goods with lower FX sensitivity than consumer products,” Jang noted. “The export boost from a weaker won is far smaller today than in the 2000s.” Adding to the strain, Korean chip, battery, and auto makers are locked into major U.S. factory builds. A strong dollar inflates the won-denominated cost of these projects: LG Energy Solution’s Arizona plant, initially estimated at $3.2 billion when the rate was 1,305 won per dollar, now faces more than 10 percent higher local-currency costs. Aviation and import-heavy sectors face direct cost shock Industries that rely heavily on dollar-denominated inputs are among the most exposed. Airlines pay for jet fuel, aircraft leases, and many maintenance contracts in dollars, meaning every notch lower in the won widens their cost base. Even with recovering passenger demand, carriers risk margin compression unless they raise fares or cut capacity — decisions that could cool travel demand. Import-dependent sectors such as petrochemicals, cement (due to coal), and start-ups conducting overseas clinical trials also face disproportionate pain, as they cannot avoid dollar-priced inputs while global demand remains weak. The old rule of FX-driven export gains is fading The traditional rule of thumb — a weaker won automatically boosts export champions — has weakened. Korea’s conglomerates increasingly produce goods in overseas factories and sell them in local currencies, while hedging more aggressively to smooth volatility. As a result, the pass-through from FX weakness to export volume has diminished, while the inflationary impact of pricier imports has intensified at home. “Exports today benefit less from FX than they used to, while import costs feed into domestic inflation much more quickly,” Jang said. A 1,500 won level is now more balance-sheet stress test than export windfall Going forward, the won’s trajectory will hinge on Korea–U.S. interest-rate differentials, foreign capital flows, and the country’s trade balance. Research from the Korea Capital Market Institute shows that the exchange-rate effect on Korea’s exports has markedly weakened since the early 2010s as manufacturers expanded offshore production and moved deeper into global value chains. A near-1,500 won level, once considered an export advantage, now functions more as a stress test for corporate balance sheets and investment plans than a simple tailwind for competitiveness. 2025-11-24 17:35:55

Samsung Electronics names new DX, DS co-CEOs and brings in global science talent in sweeping leadership reshuffle SEOUL, November 21 (AJP) - Samsung Electronics unveiled a major leadership reshuffle on Friday, reinstating a two-CEO structure and appointing Harvard professor Hongkun Park and software veteran Janghyun Yoon to top technology roles as the company accelerates its transition toward next-generation semiconductor and AI innovation. TM Roh, head of the Mobile eXperience (MX) Business and acting chief of the Device eXperience (DX) Division, has been formally promoted to President & CEO of DX, joining Young Hyun Jun, Vice Chairman and chief of the Device Solutions (DS) Division, as co-CEOs. Both leaders will continue to oversee Samsung’s core mobile and memory businesses, respectively. The company also promoted Samsung Venture Investment CEO Janghyun Yoon to President, Chief Technology Officer of DX and Head of Samsung Research, leveraging his background in software platforms, IoT and Tizen development, and deep experience in frontier technology investments including AI, robotics, biotech and semiconductors. In one of its boldest talent moves in recent years, Samsung tapped Hongkun Park, a Mark Hyman Jr. Professor of Chemistry and Professor of Physics at Harvard University, as the new Head of the Samsung Advanced Institute of Technology (SAIT). Park, a leading global figure in nanoscience, quantum research and next-generation device physics, is expected to spearhead work on quantum computing, neuromorphic semiconductors and other future device platforms once he joins the company on Jan. 1, 2026. Samsung said the appointments reflect its “People First” philosophy and a strategy to secure top-tier scientific and engineering talent as geopolitical and technological competition intensifies. The reshuffle aims to strengthen execution under uncertain macro conditions while laying the groundwork for AI-driven business transformation. The company also adjusted responsibilities at the executive level. Vice Chairman Jun will continue as head of DS and Memory Business without concurrently serving as SAIT chief, while President Roh retains leadership over the MX Business alongside his expanded DX CEO role. Friday’s announcement follows a series of year-round promotions Samsung executed earlier in 2025. The company elevated Choi Won-joon to President and COO of the MX Business in March for his role in advancing Galaxy S25 development and global device competitiveness, and appointed Mauro Porcini—former chief design officer at PepsiCo and 3M—as DX’s Chief Design Officer in April. Samsung said it plans to maintain its rolling promotion system to secure high-performing leaders throughout the year. Samsung will soon announce its broader executive and organizational reshuffle for 2026, following Friday’s top-level appointments. 2025-11-21 17:20:47

Korea's late-40s breast cancer spike: researchers identify a surprising risk group SEOUL, November 21 (AJP) - Overweight and obesity are the most common drivers of post-menopausal breast cancer in American women — but for Koreans, new evidence suggests the opposite: being underweight may be the greater risk factor. New data highlight that breast-cancer risk in Korea follows a markedly different biological pathway from that of Western populations, where excess body fat typically fuels tumor development after menopause. In Korea and Japan, breast-cancer incidence peaks in women’s late 40s — nearly two decades earlier than in the United States — and researchers say this divergence may stem from hormonal patterns unique to lean Asian women entering menopause. A study led by Kangbuk Samsung Hospital and Seoul Asan Medical Center tracked 4,737 Korean women for seven years and found that underweight participants (BMI <18.5) experienced a temporary surge in estrogen and breast-tissue density during the early menopause transition. Both factors increase breast-cancer risk. The findings were published in Breast Cancer Research in October 2025. Korea’s national cancer registry recorded 29,729 new breast-cancer cases among women in 2019, with a median diagnosis age of 52.8. Women in their 40s accounted for the largest share. Incidence has risen 4.8-fold since 2000, underscoring an age-specific vulnerability among Asian women. Breast density is another key differentiator. Korean women have among the highest rates of dense breasts in the world — a characteristic that raises cancer risk and reduces mammographic accuracy. In Korea, dense-breast prevalence drops sharply from about 78 percent in the late 40s to 30 percent in the 50s. Western cohorts show only a modest shift, from roughly 47 percent to 44 percent. Researchers say these rapid hormonal and anatomical changes compress Asian women’s risk window into a narrower, younger age band. Clinicians say lifestyle patterns may further amplify this vulnerability. “Korean women tend to show much more extreme BMI distributions than Western women — they are often either very underweight or severely obese, with relatively few in the normal range,” said Shim Kyung-won, a family medicine specialist at Ewha Mokdong Hospital. “Many girls and young women grow up under strong pressure to stay thin, which leads to unnecessary dieting and early exposure to hormone-regulating or weight-control medications. This frequent hormonal exposure at a young age can contribute to infertility issues and potentially raise breast-cancer risk later in life.” Shim noted that Korean women frequently have higher body-fat percentages and more abdominal fat than Western women of the same weight because of carbohydrate-heavy diets and lower muscle mass, placing additional metabolic strain during their 30s and 40s. American data show the opposite dynamic. According to the U.S. Centers for Disease Control and Prevention, more than 716,000 obesity-associated cancers occurred in 2022, including 495,000 among women. Post-menopausal breast cancer is the most common obesity-linked cancer in American women, driven by hormone-responsive pathways tied to excess fat. Recent U.S. research has identified a biological mechanism behind this trend. Leptin — a hormone produced by fat cells — was found to promote estrogen receptor-positive tumor growth by increasing activity of stearoyl-CoA desaturase (SCD), a metabolic enzyme that fuels cancer cell proliferation and motility. “Our data indicate that the combined upregulation of leptin and SCD identifies a subgroup of breast cancers with poorer recurrence-free survival,” the research team said. Blocking SCD “almost completely counteracted the pro-tumorigenic effects driven by leptin,” said Dr. Barone, suggesting the enzyme’s potential as a therapeutic target for obese ER-positive patients. Korean clinicians say shifting family patterns may also be reshaping risk. “We are seeing earlier menopause among younger women today,” Shim said. “Delayed marriage and childbirth, a rise in never-married women, shorter or absent breastfeeding, and increasing use of fertility treatments all contribute to greater hormonal fluctuation. Many young patients present with health issues linked to extremely unbalanced lifestyles.” She added that “a growing number of underweight young women mistakenly believe they are overweight due to unrealistic beauty standards,” reinforcing the need for healthier weight perceptions. These contrasting biological pathways show that American and Korean women face opposite risk profiles: obesity drives hormone-dependent breast cancer after menopause in the West, while low BMI may trigger hormone-density spikes that push Korean women into earlier cancer onset. 2025-11-21 16:36:05

Samsung takes laid-back stance in HBM catchup with SK hynix on DRAM strengthening SEOUL, November 19 (AJP) - South Korea’s two dominant memory names Samsung Electronics and SK hynix are showing signs of divergence and avoiding a head-on clash in the red-hot high bandwidth memory (HBM) market, with strengthening DRAM prices reducing the pressure to take risks. Samsung Electronics, a long-time frontrunner in DRAM until the rise of HBM powering AI chips, appears to be in no hurry to ramp up its lagging HBM capacity, holding output at 150,000 wafers per month from late 2025 to 2026 after identifying that margins in high-end DRAM are increasingly outpacing those of HBM. DRAM prices have been rising rapidly due to low yields, with chipmakers devoting most of their wafer space to HBM. “High-value DRAM profitability is now surpassing HBM, which reduces Samsung’s incentive to aggressively expand HBM capacity,” said Cha Yong-ho, analyst at LS Securities, adding that Samsung is positioning itself to “maximize profitability during the P-cycle (price strengthening cycle) rather than chase volume.” Samsung Electronics declined to confirm or deny. “We will ready capacity to readily address market changes as we expect mid- to long-term rise in demand," said a company official. The company has recently given a go-ahead to the structure work on Pyeongtaek Campus Plant 5, a project previously delayed due to unfavorable market conditions. The new line, dedicated to HBM production, is expected to become operational from 2028. The company official, however, disagreed to the reference of advanced chipmaking restricted to HBM these days. “High-value products refer to not only HBM, but also high-spec and high-capacity DRAM such as graphics DRAM. You can view our strategy in that broader context.” The company is prioritizing premium DRAM and next-generation HBM4 while continuing to build out its P4 and P5 fabs in Pyeongtaek using a flexible “first-shell” approach. SK hynix, enjoying its first-ever market dominance and hot earnings streak, meanwhile has all hands on deck in HBM, upping output from 150,000 to 200,000 wafers per month in 2026 upon increased orders from Nvidia. With HBM in structural shortage and Nvidia relying heavily on SK hynix for its AI accelerators, the company has little room to share capacity with general DRAM even as prices climb. SK hynix remains focused, regardless of the decisive strengthening in DRAM prices. "DRAM prices rose because suppliers focusing on HBM shifted wafer capacity to HBM, creating supply-side shortages. It’s more of a market phenomenon than a reason for us to adjust strategy. Our priority remains HBM," a company official said. HBM has already transformed SK hynix’s earnings structure: although it accounts for only 14% of DRAM shipments, it represents 44% of DRAM revenue and more than half of operating profit, driven by unit prices nearly five times higher than DDR5. Most of its HBM supply for 2025 is sold out, with 2026 volumes largely pre-committed. Reflecting the strength of the HBM cycle, the SK hynix official confirmed that “our HBM capacity for 2026 is already sold out.” This divergence reflects the broader transition into a P-cycle, where memory makers benefit more from higher selling prices than expanding output. Monthly HBM demand is expected to surpass one million wafers in 2026, while global supply remains around 400,000 wafers, reinforcing an extended period of tightness. DDR5 contract prices have already risen 165% from the start of 2025, underscoring how performance-oriented AI demand is reshaping the market. A key variable for the next investment cycle is China’s CXMT, whose expansion remains capped at 280,000 to 300,000 wafers per month through 2026 due to U.S. export controls restricting access to advanced DRAM equipment. Beijing’s third semiconductor investment fund is prioritizing equipment localization, raising expectations that CXMT may resume aggressive expansion in 2027 if domestic tools stabilize. Any such shift would force Samsung and SK hynix to restart large-scale capex to defend global market share, reviving Korea’s materials, parts and equipment suppliers. For now, the market is defined by divergence rather than direct rivalry: Samsung leaning into high-performance DRAM profitability during the P-cycle, and SK hynix fortifying its lead in HBM as AI infrastructure investment accelerates. 2025-11-19 17:01:20

Micron courts talents in its rivals' home turf as heat intensifies in memory sector SEOUL, November 18 (AJP) - The three-way memory race in the high-stakes AI battlefield has spilled onto South Korean campuses, as the U.S. contender Micron Technology aggressively hunts for engineering talent on its rivals’ home turf amid intensifying competition in advanced chipmaking. Micron has been posting multiple Korea-based engineering roles on LinkedIn — including HBM system architecture, DRAM product engineering, and logic-integration positions — and will hold a recruiting session at Seoul National University’s College of Engineering next month, along with visits to other top tech universities. The SNU event advertises Micron’s global talent programs, relocation tracks, and “fast-track” or on-site engineering recruitment. The company toured Seoul, Daejeon, and Busan last year in a similar talent drive. Micron’s push comes as demand for high-performance memory surges on the back of AI and hyperscale servers. The U.S. company produces high-bandwidth memory (HBM) for GPUs powering AI applications across three regions — design and development in the U.S., memory fabrication in Japan, and advanced packaging and testing in Taiwan. DRAM accounts for nearly 70 percent of Micron’s revenue, with most NAND output — the remaining 30 percent — manufactured in Singapore. Recruits from Korea largely join these Asian operations. According to Micron’s post on SNU’s job board, the Idaho-based company hired 98 graduates and soon-to-be graduates from Korea for its Taiwan operations last year. Micron declined to comment on its reasons for stepping up recruitment in Korea. Korean memory makers, however, are well aware of their U.S. rival’s intentions. “Talent competition among the three DRAM makers has always existed. Micron’s activity in Korea appears tied to the intensifying HBM race, but Korean companies are not yet worried about a meaningful drain of engineers,” said a source familiar with SK hynix’s HR affairs. Samsung Electronics also declined to comment. Still, both Korean chipmakers have recently strengthened compensation packages to hold on to skilled engineers. Graphics by AJP Song Ji-yoon Samsung Electronics, long the comfortable leader among the three companies that together command more than 90 percent of the global DRAM market, has been losing ground since HBM emerged as the defining metric of DRAM leadership in the hyperscale era. As of June 2025, SK hynix leads the HBM market with a 62 percent share, followed by Micron at 21 percent and Samsung at 17 percent. Micron — once a distant third — has surged on strong U.S. demand for HBM. The company is now targeting engineers with one to three years of hands-on experience in HBM packaging, through-silicon via (TSV) technologies, and DRAM design — a talent pool heavily concentrated in South Korea. Without stronger defenses, Korea’s chip supremacy — built on its high-quality engineering base — is at risk, experts warn. “Korean engineers are among the most attractive in the global market. Losing mid-career engineers to overseas companies will directly weaken Korea’s chip competitiveness,” said Ahn Ki-hyun, executive director at the Korea Semiconductor Industry Association. Micron, which is racing to narrow the gap with Samsung and SK hynix in HBM3E and HBM4, is simultaneously expanding engineering capabilities across Boise, Singapore, Taiwan, and Japan. Analysts say Micron must deepen its expertise in advanced packaging and DRAM-logic integration to compete in AI-era data-center memory — the fastest-growing segment in the semiconductor market. Korean universities have become a critical battleground, leveraging long-standing academic-industry networks that accelerate testing and commercialization of next-generation chips. 2025-11-18 17:34:23

Buldak dominates global hot-sauce shelves and fuels top line for Korean ramen maker SEOUL, November 17 (AJP) - The Chinese have numbing-hot “mala,” the Mexicans have smoky “salsa,” and the Thai have sweet-spicy “sriracha.” But the enduring winner in the global chili-sauce canon is South Korea’s “buldak” — a magical blend of concentrated sweetness and addictive burn that has pushed its maker, Samyang Foods, to the top of the KOSPI’s food sector and made the stock almost unreachable for ordinary investors. The global phenomenon of Buldak Bokkeum Myun — Samyang’s iconic “Hot Chicken Flavor Ramen” — remains unstoppable, and so does its stock. Samyang Foods jumped 5 percent to 1,385,000 won ($1,010) on Monday after reporting stronger-than-expected third-quarter earnings. Its ramen rival Nongshim, which gained 9 percent, still trades at one-third of Samyang’s valuation at 462,000 won. “I first tried Buldak back in 2015, and I still remember that shock of heat,” said Lee Yurim (31), an office worker in Seoul. “There was nothing like it back then. The flavor was so intense it hurt, but it was delicious. Ten years later, no other spicy noodle has come close. It’s that specific, fiery yet savory taste that keeps me coming back.” That same fire has now fueled Samyang Foods’ highest-ever quarterly earnings. The company posted 632 billion won ($460 million) in consolidated third-quarter sales, up 44 percent from a year earlier, and 131 billion won ($96 million) in operating profit — a 50 percent jump. Cumulative operating profit for the first nine months reached 385 billion won ($281 million), already surpassing last year’s total of 345 billion won. Overseas demand remains just as hot. Exports soared 50 percent to 510 billion won, accounting for 81 percent of total revenue, the highest share on record. Sales in the United States rose 59 percent to $112 million, while China logged a 56 percent increase to 951 million yuan ($131 million). Heartfelt response from the company to its sudden rise and fame also helped to sustain the brand's overseas popularity. “We’ve never started with marketing first,” the official said. “However, when something goes viral overseas, our marketing team reacts quickly and engages sincerely. For example, when a U.S. girl named Adalynn went viral on TikTok after crying with joy over receiving Buldak for her birthday, our team visited her home in a Buldak truck loaded with a year’s worth of Carbonara Buldak and threw her a surprise party.” The company also addressed the Denmark recall incident earlier this year, where regulators temporarily banned extra-spicy varieties over capsaicin concerns. “That wasn’t a marketing event — it became one naturally,” the official said. “After discussions with Danish authorities and Korea’s food regulator, the products were cleared and sales resumed. We view these moments as opportunities to communicate transparently and show that we take safety seriously.” Emotions aside, brokerages were eager to upgrade the stock. Yuanta Securities raised its target price for Samyang to 2 million won from 1.78 million won, maintaining a “buy” rating. “Even with expanded production at the Miryang plant, inventory declined — meaning demand is outpacing supply,” said Son Hyun-jung, analyst at Yuanta. “From the fourth quarter, we will start to see the impact of U.S. price hikes and higher Miryang utilization. We forecast 2025 revenue at 2.36 trillion won ($1.72 billion) and operating profit at 533 billion won ($389 million), up 37 and 55 percent year-on-year.” Korea Investment & Securities named Samyang its “top pick” in the food sector. “Samyang beat sales consensus by 6.6 percent despite tariff burdens,” said Kang Eun-ji, analyst at Korea Investment. “Tariff impacts will gradually ease through U.S. price adjustments, and American demand remains solid even after recent price increases.” She added that China sales climbed 60 percent to 189 billion won ($136 million), offsetting tariff pressure. At the core of the phenomenon is Buldak’s flavor formula — a calibrated mix of capsaicin heat, sweetness, and umami refined through years of in-house R&D. Although Samyang declined to disclose details, citing trade secrets, the company’s success lies in how the product balances pain and pleasure. The glossy, stir-fried texture and layered flavor made it ideal for the social-media era, fueling viral “spice-challenge” videos across TikTok and YouTube — with celebrity fans from British YouTuber Korean Englishman to rapper Cardi B. On whether the company had faced any supply bottlenecks amid the surging demand, the Samyang official said there were “brief moments earlier this year when orders piled up faster than production could keep pace.” “At the start of this year, we did experience some supply delays as demand spiked,” the official said. “We currently operate three factories in Korea — in Miryang, Iksan, and Wonju — with Miryang having two plants dedicated entirely to exports. We built the second Miryang plant anticipating continuous growth, but it quickly became clear that it might not be enough. So, about two to three months ago, we began constructing a new plant in Jiaxing, China, which will serve the domestic Chinese market by late 2026 or early 2027. This will free up Korean capacity for other global markets.” The brand’s explosive performance also coincides with a generational shift in leadership. Jeon Byung-woo, the 36-year-old third-generation heir, was promoted to Executive Director this month for driving Buldak’s international expansion and overseeing construction of the new Jiaxing, China factory. Jeon also led global marketing collaborations and product diversification, cementing Buldak’s place as a global megabrand. Analysts say Samyang has moved beyond simple volume growth toward structural transformation. “Strong sales despite expanded capacity show that global demand is still exceeding production,” said Son. “The company is now improving both sales efficiency and profitability.” With the Miryang No. 2 plant ramping up and the China factory set to begin operations in 2027, Samyang is poised to dominate ramen aisles — and hot-sauce shelves — worldwide for years to come. 2025-11-17 16:44:27

Samsung showcases AI-powered 6G communication in Silicon Valley SEOUL, November 14 (AJP) - Samsung Electronics on Friday hosted the Silicon Valley Future Wireless Summit 2025, showcasing its latest strides in artificial intelligence-driven communication systems and reaffirming its position at the forefront of next-generation 6G technology. The event drew more than 100 leaders from global telecom carriers, equipment manufacturers, government agencies, and academia. Samsung used the summit to present its advances in AI-native communication systems — technologies that integrate artificial intelligence directly into network infrastructure — and to demonstrate its AI-RAN (AI-based Radio Access Network) platform, which autonomously optimizes network performance using self-learning algorithms. The conference covered topics such as extended reality, sensing-communication convergence, AI-enabled wireless optimization, and predictive network maintenance, the company said. Jeong Jin-guk, executive vice president and head of Samsung's Advanced Communications Research Center, said the company aims to “maximize user experience and network efficiency by integrating AI into communication systems” and pledged to continue strengthening global partnerships to advance next-generation network technologies. 2025-11-14 16:53:40

Beloved bagel chain becomes flashpoint in Korea's labor reckoning SEOUL, November 14 (AJP) - On most mornings, the line outside London Bagel Museum used to stretch down the block, a testament to the artisanal bakery chain’s grip on South Korea’s cafe-obsessed culture. Now the street is quiet, its pause in foot traffic reflecting a deeper national unease. The sudden death of a 26-year-old employee at the chain has ignited a furious backlash over long-standing labor abuses in the country’s food and beverage sector, where exacting hours, precarious contracts and relentless customer demand have long been treated as the price of success. According to data released by the National Assembly, London Bagel Museum recorded 63 industrial accidents approved for state compensation between 2022 and September 2025 — more than far larger food conglomerates such as SPC Samlip. Labor authorities have begun expanding inspections across the chain’s affiliates, citing evidence of repeated violations. The victim, a young worker at one of the brand’s busiest locations, had reportedly logged up to 80 hours in the week before he died, with months of 58-hour averages preceding it. The company has denied wrongdoing, attributing discrepancies to “attendance system errors,” while declining to hand over full timecard records to investigators. Employees say the problem runs deeper. Workers have described signing one-month “split contracts” designed to evade overtime obligations and being ordered to publicly read written apologies during morning meetings for small mistakes — a form of humiliation management that labor organizers say is common in the franchise sector. The scandal has revived memories of earlier tragedies. In 2022, a young worker was killed in a mixing machine at an SPC Group factory, prompting promises of sweeping reforms and a pledge to spend 1 trillion won ($730 million) on safety upgrades. Another worker died less than a year later. Watchdog groups note that only 0.3 percent of the promised funds appear to have gone toward hiring safety personnel. Behind the recurring crises is a structural problem, experts say: the nation’s labor protections were designed for mid- and large-sized companies, not for the patchwork of tiny franchise units that dominate the booming F&B landscape. “The core problem is that Korea’s labor law focuses on regular employees in larger firms, while most franchises operate with fewer than five workers,” said Lee Joo-hee, a sociology professor at Ewha Womans University. “These workers — often young and temporary — end up excluded from even basic protections like limits on working hours.” Government data show F&B employees work an average of 50.2 hours a week, the highest of any service industry. More than one-third are part-time or irregular workers. Yet the domestic bakery market has continued to swell, reaching 8.4 trillion won ($6.3 billion) last year, fueled by demand for premium brands like London Bagel Museum and SPC’s La Granus. Labor activists say that unless the government addresses the proliferation of subcontracting, unstable employment arrangements and enforcement gaps, the tragedies will only continue. The Labor Ministry is now reviewing new regulations that would mandate direct employment and full disclosure of work-hour data across the industry. For now, the crowds have thinned, and the country’s most sought-after bagel shop has become an unsettling symbol of a deeper crisis. What once looked like a booming culinary success story is now a stark reminder of the workers who kept it running — and the system that failed them. 2025-11-14 16:28:48

Reality check for Korean divorces amid billionaire cases and romanticized shows SEOUL, November 13 (AJP) - Divorce is no longer a social taboo in traditionally conservative South Korea, with a steady stream of reality shows and court dramas themed around marital breakups — and real-life billion-dollar splits among chaebol families such as SK Group and Smilegate drawing intense public attention. But little about divorce is romantic for ordinary couples. Korea’s divorce rate stands at 2.1 per 1,000 people — roughly half the global average of four — yet litigation costs have soared and disputes have grown more combative as dependent spouses push for a bigger share of assets. The latest case to dominate headlines involves Smilegate founder and chairman Kwon Hyuk-bin, whose net worth is estimated at 8 trillion won ($5.8 billion). His wife is reportedly seeking half of Kwon’s full stake in the unlisted gaming company. “The divorce of the century” between SK Group Chairman Chey Tae-won and his ex-wife Roh So-young also returned to the spotlight last month after the Supreme Court overturned a lower court ruling ordering Chey to pay 1.38 trillion won ($1 billion). The eye-popping numbers have captivated the public, but family lawyers caution that these cases are outliers in a system where most settlements are far smaller — and where proving financial or domestic contribution remains notoriously difficult. “People see these chaebol divorces and assume they can claim half. We’re already seeing clients ask whether they too can receive this amount,” said Lee Eun-hae, a divorce attorney at VROIN Law Firm. “In reality, it’s very rare. Courts divide assets based on provable contribution — and if one spouse wasn’t engaged in income activities, a 50:50 split almost never happens.” Under Korean law, marital property is divided according to each spouse’s contribution to wealth accumulated during the marriage. Non-monetary efforts such as childcare and household labor are recognized but still undervalued in practice, Lee added. “For non-working spouses, it’s very hard to quantify household or emotional labor,” she said. “Most cases end around a 6:4 or 7:3 ratio, depending on the marriage length and whether there are children involved.” Although Korea’s official divorce rate has dipped in recent years, experts say the trend partly reflects delayed marriage registrations rather than fewer separations. Lawyers and sociologists note that younger couples are more pragmatic — marrying later, divorcing sooner, and often handling breakups discreetly without going through formal litigation. “Younger generations view divorce less as a stigma and more as an option,” Lee said. “Some couples even end their marriage quietly without going to court.” As wealth becomes increasingly concentrated, legal experts say Korea’s family-law framework must evolve to reflect modern partnerships — including fairer recognition of unpaid domestic work and clearer valuation standards in high-asset marriages. 2025-11-13 15:58:26

LG, Mercedes-Benz explore deeper 'One LG' partnership for next-gen car parts SEOUL, November 13 (AJP) - South Korea's electronics giant LG Group said Thursday that it discussed expanding its “One LG” partnership with Mercedes-Benz, aligning its affiliates’ combined auto-parts capabilities for next-generation electric and software-defined vehicles. The meeting at LG Twin Towers in Yeouido, Seoul, coincided with the visit of Ola Källenius, chairman and CEO of Mercedes-Benz Group. Executives from LG Electronics, LG Display, LG Energy Solution and LG Innotek attended to review collaboration in EV components, batteries, vehicle displays, and autonomous-driving sensors. Under the “One LG” initiative, the four affiliates aim to provide integrated parts solutions combining infotainment systems, curved OLED displays, battery cells, and sensing modules. LG Electronics and Mercedes-Benz have already co-developed the panoramic OLED infotainment display used in the EQS model. LG Display has supplied plastic-based P-OLED panels for Mercedes-Benz’s MBUX Hyperscreen, while LG Energy Solution remains a key battery partner. LG Innotek is exploring cooperation in LiDAR and radar modules. Källenius said Mercedes-Benz and LG “share a vision of innovation, quality and sustainability, combining our strengths to set new standards for the global auto industry.” LG Electronics CEO Cho Joo-wan said the company would “further strengthen its strategic partnership with Mercedes-Benz based on its SDV solutions and proven technology.” 2025-11-13 15:09:33