Journalist

Lee Jung-woo
  • Asian markets rally, KOSPI the worlds best performer led by chip boom
    Asian markets rally, KOSPI the world's best performer led by chip boom SEOUL, October 21 (AJP) - Major Asian stock markets closed mostly higher on Tuesday amid easing global trade tensions and improved investor sentiment, while South Korea’s benchmark index stood out as the world’s best performer of the month. In Seoul, the KOSPI closed at a fresh record of 3,814.69, up 1.76 percent from the previous session. The secondary KOSDAQ gained 1.89 percent to close at 875.77. Institutional investors drove the rally with strong buying despite continued foreign selling pressure. Technology stocks led the gains, with SK hynix jumping 4.2 percent to a new high of 485,500 won and Samsung Electronics edging up 0.2 percent to 98,100 won. Japan’s Nikkei 225 surged 3.12 percent to 49,186, supported by optimism over political stability and anticipated fiscal stimulus. Tech and AI-related shares, including SoftBank, Advantest, and Tokyo Electron, were among the top gainers. In Taipei, the TAIEX rose 386.26 points, or 1.41 percent, to close at 27,688.63, lifted by semiconductor stocks such as TSMC, which gained 2.07 percent. Vietnam’s VN-Index also advanced, supported by foreign inflows and resilient domestic investor sentiment despite recent volatility. The index closed near 1,700 points, buoyed by expectations of a market reclassification that could draw greater foreign investment. The rally across Asian markets underscores a cautiously optimistic tone, driven by easing geopolitical tensions and sustained momentum in the region’s semiconductor and technology sectors. 2025-10-21 17:53:37
  • Asian markets rise on hopes of pro-stimulus government in Japan
    Asian markets rise on hopes of pro-stimulus government in Japan SEOUL, October 20 (AJP) - Asian equities advanced on Monday, lifted by optimism that Japan may soon usher in a pro-stimulus government — a prospect that helped counterbalance mixed economic signals from China and cautious sentiment across the region. In Seoul, the benchmark KOSPI index gained 1.3 percent, supported by renewed optimism over a tariff deal with Washington and resilient semiconductor exports. The tech-heavy KOSDAQ also edged higher, though gains were more muted, as investors selectively bought shares of exporters and technology firms. In China, the Shanghai Composite Index rose 0.7 percent after the government reported third-quarter growth of 4.8 percent year-over-year, slightly above expectations. Industrial production also exceeded forecasts, rising 6.5 percent. Yet, persistent weakness in the property sector and sluggish consumer confidence tempered the market’s advance. Hong Kong’s Hang Seng Index climbed 2.5 percent, buoyed by improved risk appetite amid easing U.S.–China trade tensions and optimism over Japan’s political outlook. Japan’s Nikkei 225 surged 3 percent to a new high after reports that the ruling coalition had secured enough support to pave the way for Sanae Takaichi to become prime minister. Investors interpreted the development as a sign that Tokyo would maintain — or even expand — its fiscal and monetary stimulus measures, reinforcing confidence across regional markets. 2025-10-20 17:46:00
  • Koreas job growth in September hits 19-Month high, manufacturing still tepid
    Korea's job growth in September hits 19-Month high, manufacturing still tepid SEOUL, October 17 (AJP) - South Korea saw the largest job addition in 19 months in September, driven mainly by service-sector hiring under government stimulus measures, while manufacturing and youth employment remained sluggish, data showed Friday. According to the Ministry of Data and Statistics, the number of employed people aged 15 and over reached 29.15 million in September, an increase of 312,000 from a year earlier. It was the largest on-year gain since February 2023, when employment rose by 329,000. The headline employment data has stayed positive throughout the year, but gains were uneven across sectors and age groups. Employment among young people aged 15 to 29 fell by 146,000, marking the steepest decline among all age groups. Workers in their 50s also continued to lose jobs for the ninth consecutive month. In contrast, those aged 60 and older added 380,700 positions, more than offsetting the declines in younger cohorts. By industry, the largest job gains were seen in health and social welfare services, which added 304,000 positions (a 10.1 percent increase), followed by arts, sports and recreational services with 75,000 (up 14.5 percent) and education services with 56,000 (up 2.9 percent). The nation’s traditional backbone sectors continued to shed workers. Construction lost 84,000 jobs (down 4.1 percent), and manufacturing contracted by 61,000 (down 1.4 percent). The agriculture, forestry and fisheries sector also saw a sharp fall, losing 146,000 jobs (down 9.1 percent). Among self-employed workers, those with employees increased by 30,000, partly reflecting government support programs such as livelihood recovery subsidies. In contrast, self-employed without employees declined by 80,000, and family workers decreased by 20,000. The number of unemployed persons stood at 635,000, up 12,000 from a year earlier, led largely by workers in their 30s to 50s. Meanwhile, the population classified as “inactive,” who have given up job hunting, increased by 42,000 (up 1.7 percent) to 2.52 million. On a brighter note, the number of inactive people aged 15 to 29 and those in their 30s fell by 34,000 and 12,000, respectively. 2025-10-17 15:36:19
  • Asian shares mixed on profit-taking after chip rally, U.S. bad loan concerns
    Asian shares mixed on profit-taking after chip rally, U.S. bad loan concerns SEOUL, October 17 (AJP) - Asian markets opened mixed on Friday as investors weighed renewed credit market jitters in the U.S. and the region’s ongoing chip rally. In Seoul, the KOSPI slipped 0.53 percent to 3,728.50 as profit-taking set in after a bullish run to record highs. The secondary Kosdaq also traded lower. Samsung Electronics edged down 0.2 percent while SK hynix was flat, even as Taiwan’s TSMC reported stronger-than-expected quarterly profits. Automakers extended gains on optimism over a Korea–U.S. settlement on auto tariffs. Hyundai Motor rose 1.24 percent and Kia added 0.72 percent, supported by robust U.S. sales. Japan’s Nikkei 225 opened slightly lower amid cautious sentiment following Wall Street’s overnight decline on reports of bad loans at two U.S. banks. An adjustment by the Osaka Exchange to restore standard price limits for options trading also dampened volatility expectations. China’s Shanghai Composite Index rose 0.10 percent to 3,916.20, lifted by gains in property and energy shares after the IMF upgraded Asia’s 2025 growth outlook and highlighted China’s recovery momentum. Hong Kong’s Hang Seng Index opened mildly higher, supported by rebounds in tech and property stocks, though lingering U.S.–China trade tensions capped broader gains. In Taipei, the TAIEX fell 247.96 points to 27,399.91, pressured by foreign investor selling and fading enthusiasm for AI chip stocks. 2025-10-17 11:38:16
  • Asian Culture Calendar
    Asian Culture Calendar SEOUL, October 16 (AJP) - South Korea Oct. 16 - Nov. 9 Seoul Performing Arts Festival Oct. 1 - Dec. 14 Scent of Korea in Silla Oct. 20 -29 Seorabeol Pungnyu (APEC Commemorative Performance) Oct. 18 - 22 Road Theater (Film and Drama Shooting Location Tour) China Oct. 24 - 26 IFAF Asia-Oceania Flag Football Championship Japan Oct. 22 Jidai Matsuri Oct. 27 - Nov. 5 Tokyo International Film Festival Taiwan Oct. 24 - 27 Art Taipei Fair Thailand Oct. 20 - 29 Thailand Vegetarian Festival Indonesia Oct. 19 -25 World Artistic Gymnastics Championships Oct. 23 -25 Gandrung Sewu Festival Oct. 25 -26 Indonesia Comic Con Oct. 29 - Nov. 2 Ubud Writers & Readers Festival Singapore Oct. 31 - Mar. 29, 2026 Singapore Biennale 2025-10-16 17:06:18
  • Asian stocks rise broadly; KOSPI scales new heights, SK shares mixed
    Asian stocks rise broadly; KOSPI scales new heights, SK shares mixed SEOUL, October 16 (AJP) - Asian stocks traded broadly higher on Thursday, buoyed by renewed bets on another U.S. rate cut, with South Korean shares testing fresh record highs amid optimism over an imminent U.S.–Korea trade deal and a stronger-than-expected chip boom. The benchmark KOSPI climbed 1.7 percent to 3,718.93 as of midday, crossing the 3,700 mark for the first time ever. Investor sentiment improved on expectations that trade negotiations between Seoul and Washington are nearing a breakthrough, spurring foreign buying led by institutional inflows. Heavyweights such as Samsung Electronics and Hyundai Motor hit new highs, while the KOSDAQ rose 0.24 percent to 866.82, reflecting steady gains among small-cap tech firms. Shares of SK Group affiliates were mixed after the Supreme Court sent back the $1 billion divorce settlement case between Chairman Chey Tae-won and his estranged wife to a lower court. SK hynix jumped 5.8 percent, while SK Networks fell 1.7 percent. In Japan, the Nikkei 225 advanced 0.83 percent to 48,068.35, lifted by broad-based gains in tech and export-oriented shares. Mainland Chinese stocks rebounded strongly, with the Shanghai Composite Index rising 1.22 percent, reclaiming the 3,900 level. Taiwan’s main index was little changed, supported by optimism over the island’s tech sector and the debut of Song Chuan Precision Co., Ltd. on the Taiwan Stock Exchange, which boosted turnover expectations. In Hong Kong, the Hang Seng Index edged higher alongside gains in mainland China, though investor caution lingered amid uncertainty over global interest rate trajectories and regional export trends. 2025-10-16 12:48:32
  • SK chiefs divorce case sent back to lower court
    SK chief's divorce case sent back to lower court SEOUL, October 16 (AJP) - The Supreme Court of Korea on Thursday sent the high-profile divorce case of SK Group chairman Chey Tae-won and his estranged wife Roh Soh-yeong back to the high court. The top court found flaws in the lower courts' assessment of Roh's contribution to the conglomerate's growth, ruling that some 30 billion Korean won (US$21 million) in slush funds from Roh's father, the late former President Roh Tae-woo, which were funneled into SK Group, cannot be considered assets jointly accumulated by the couple. The court clarified that such illegally raised funds constitute bribes and therefore cannot be subject to property division, requiring a recalculation of the couple's marital assets. The court also determined that stocks or cash donated or disposed of by Chey in the course of managing the conglomerate cannot be subject to division if they are no longer held. However, the court finalized its order for Chey to pay 2 billion won in alimony, dismissing his appeal. Thursday's partial referral to the lower court came after the appellate court, which overturned the previous ruling in May last year, ordered Chey to pay Roh 1.38 trillion won (about US$970 million) in property division and 20 billion won in alimony, marking it as the most expensive divorce case in the country's history. In the first trial in December 2022, Roh sought 50 percent of Chey's shares in SK Holdings, the conglomerate's parent company, but the court upheld Chey's argument that she had not contributed to his acquisition of the shares, which he inherited from his father. SK Group appeared relieved by the court's decision to remand the case in favor of Chey, allowing him to avoid the worst-case scenario of having to sell off stakes in SK affiliates to pay astronomical sums to Roh, which could have jeopardized his control over the conglomerate. "We respect the court's decision," Chey's legal representatives said in a press release, adding, "It is fortunate that the misunderstandings and factual errors in the appellate court's ruling have been rectified." But looming uncertainties over the prolonged divorce settlement sent SK shares tumbling, down 5.62 percent from the previous trading session to close at 218,500 won. Chey is the chief of the country's second-largest conglomerate after Samsung. The couple married in September 1988 and have three children between them. In December 2015, Chey revealed that he had a child out of wedlock and later filed for divorce in July 2017 as the two failed to agree on the terms of separation. 2025-10-16 10:41:37
  • Asian markets open mixed amid renewed tariff disputes between US and China
    Asian markets open mixed amid renewed tariff disputes between US and China SEOUL, October 15 (AJP) - Asian stock markets opened mixed on Wednesday, reflecting varied investor sentiment across the region. In Seoul, the benchmark KOSPI rose 39 points at around 3,601 in early trading, while the junior Kosdaq gained 5.2 points to open at 853.2. Japanese shares climbed even higher, with the Nikkei 225 jumping 599.4 points to 47,446.7, buoyed by strong buying in technology and manufacturing stocks. Not all Asian bourses joined the rally though. In China, the Shanghai Composite Index slipped 24.3 points to 3,865.2 amid renewed trade tensions between the U.S. and China, despite U.S. President Donald Trump's more accommodative tone just a day after he threatened to impose additional tariffs of 100 percent on Chinese exports in response to Beijing's plans to restrict exports of rare earths. In Hong Kong, the Hang Seng Index also dropped 448 points to 25,441. 2025-10-15 10:38:53
  • KOSPI and TAIEX higher on chip rally, other markets mixed
    KOSPI and TAIEX higher on chip rally, other markets mixed SEOUL, October 14 (AJP) - South Korean shares stayed resilient on Tuesday morning despite renewed U.S.-China tensions led by chip winners, while most other Asian markets traded mixed. The benchmark Kospi held on to a gain of around 1 percent after hitting a new all-time high of 3,637.45, buoyed by Samsung Electronics' record-breaking third-quarter earnings guidance. The Kosdaq added 0.3 percent to 863.33. In Japan, the Nikkei 225 dropped 1.4 percent to 47,431.83 on concerns over the trade front. China's Shanghai Composite Index inched down to 3,889.50, and Hong Kong's Hang Seng Index was little changed. Meanwhile, Taiwan's TAIEX climbed 1.6 percent to 27,355.97 as Samsung's upbeat earnings lifted sentiment for chipmakers across the region. 2025-10-14 13:10:27