A Christmas story from Seoul: in many shapes – and beyond SEOUL, December 24 (AJP) - In Seoul, Christmas does not arrive in a single shape. It appears instead in layers — some rooted in history, others carried forward by habit, and still others projected in light. The city’s winter traditions do not replace one another. They accumulate. The season often begins, quietly, with a tree. Few people realize that the Christmas tree itself, as celebrated across Western societies, traces its botanical origin to Korea. The Korean fir, native to the southern regions of the Korean Peninsula and growing naturally on Hallasan Mountain in Jeju, became the most popular species used for Christmas trees worldwide. In 1920, British botanist E. H. Wilson identified the species and introduced it to the academic community. Through cultivation and commercialization, it would become one of the world’s most beloved Christmas tree varieties. Korea encountered the Christmas tree early, though not without myth. Legend holds that the first person in Korea to see a Christmas tree was an empress, but no historical record confirms the story. What is documented is that in 1897, American missionaries set up a decorated tree in Jeong-dong, where many of them lived. In letters sent to American churches, they described Korean students gathering around the tree, astonished by a sight they had never seen before. That sense of wonder still surfaces each winter — but it is no longer confined to trees. Another tradition appears closer to the ground, at street level. The Salvation Army’s red kettle first appeared on the streets of Myeong-dong on Dec. 15, 1928. It was introduced by Joseph Baugh, a Swedish missionary and commander of the Salvation Army in Korea, who was moved by the plight of those driven to theft and homelessness by famine and drought. That year, around 20 kettles were placed across central Seoul, including in Myeong-dong and Jongno, collecting 812 won in the currency of the time. The kettles remain a fixture of the season, though their sound has grown softer. Fundraising peaked at 7.74 billion won ($5.3 million) in 2016, fell sharply to 2.1 billion won in 2021 during the pandemic, and stood at 2.16 billion won last year — reflecting tighter household budgets, changing habits and the city’s shift away from cash. Between the tree and the kettle, Seoul’s Christmas has long balanced celebration and restraint. In recent decades, the city has added movement. At Seoul Plaza, an ice rink opens beneath the winter sky. First launched in 2004, the Seoul Plaza Ice Rink has operated every year except in 2016 — when the plaza was cleared for candlelight demonstrations calling for the resignation of former President Park Geun-hye — and during the COVID-19 pandemic. Couples skate hand in hand. Children move cautiously beside their parents. This year, the rink runs through Feb. 8, with extended hours on weekends, Christmas Eve and New Year’s Eve. For visitors, the scale of the city’s winter offerings can be unexpected. “It’s definitely not as festive as here in Seoul,” said Max Rosenthal, 12, from Georgia, visiting Korea for the first time. “Definitely not,” his father, Jason Rosenthal, agreed. “I didn’t expect it to be this big — a lot bigger and better than I thought,” Max said. “They definitely play Christmas music everywhere.” “At all the events,” Jason added. “There’s so much to do and so many places to see the lights and festivals. We’ve spent Christmas in a few countries, like Madrid. It was festive, but only in certain areas. In Seoul, the whole city feels festive.” When asked about their favorite sights, Max pointed to the river. Jason added another: the light show at Gwanghwamun. Along the stream, lanterns offer a slower rhythm. The Seoul Lantern Festival, which began in 2009, is being held for the 17th time this year under the theme “My Light, Our Dream, Seoul’s Magic.” A total of 496 works are on display, with the exhibition expanded to Uicheon in Gangbuk-gu, stretching roughly 350 meters from Uigyo Bridge to Ssanghan Bridge. A special sculpture depicting a royal procession is also featured. The lanterns glow nightly from 6 p.m. to 10 p.m. through Jan. 4. Indoors, another tradition is reimagined. The Starfield Library inside COEX Mall, which opened in May 2017, installed its first Christmas tree that winter. This year’s Christmas festival, titled A Page of Christmas Wonder, centers on a 10-meter-tall tree made entirely of paper. According to Shinsegae Property, all decorations — from the tree to the surrounding installations — were crafted from paper, depicting the imagined journey of a boy who loves books. Outside, Seoul’s most contemporary expression of Christmas rises in light. The main branch of Shinsegae Department Store in Myeong-dong — Korea’s oldest department store, nearly a century old and once used as a U.S. military PX during the Korean War — has served as a media façade since 2009. Early Christmas themes included The Wizard of Oz and Cinderella. In 2021, the store removed all exterior advertising, added 400,000 lights and filled the façade entirely with video displays. In 2024, it completed a giant digital signage system that now operates year-round. All paths eventually lead to Gwanghwamun. This year’s Seoul Winter Festa runs through Jan. 4 under the theme “FANTASIA SEOUL.” The Gwanghwamun Market recreates a European-style Christmas market as a “Santa Village,” complete with a merry-go-round. Nearby, Seoul Light Gwanghwamun transforms the 630-year-old gate into a massive screen for media art, presented under the theme “Gwanghwa, Breathe with Light.” In Seoul, Christmas is not defined by a single symbol. It begins with a tree whose origins predate modern celebration, passes through a kettle that has marked hardship and generosity for nearly a century, and arrives — unmistakably — in light, motion and digital spectacle. Different forms, one season. And a city that chooses to show all of them at once. 2025-12-24 11:02:08

South Korea's stocks edge up, China and Japan trade flat SEOUL, December 23 (AJP) - South Korea’s KOSPI rose slightly on Tuesday as Samsung Electronics closed at a record high, while Chinese and Japanese markets were little changed. In Seoul, the benchmark KOSPI gained 0.3 percent to finish at 4,117.32, extending its winning streak to a third session. The tech-heavy KOSDAQ fell 1 percent to 919.56. Samsung Electronics rose 0.9 percent to 111,500 won ($75.3), reaching the highest closing price in its history. SK hynix added 0.7 percent to 584,000 won. Shipbuilding shares surged. HD Hyundai Heavy Industries climbed 3.7 percent to 533,000 won and Hanwha Ocean jumped 12.5 percent to 123,400 won, and HD Korea Shipbuilding & Offshore Engineering gained 3.2 percent to 432,000 won. The rise came amid growing expectations for shipbuilding cooperation between South Korea and the United States. U.S. President Donald Trump said Monday at Mar-a-Lago, Florida, that the Navy’s newly announced class of frigates will be built in partnership with South Korea’s Hanwha. He added that Hanwha agreed to invest 5 billion dollars in the Philadelphia Naval Shipyard, calling the company “a good company.” Entertainment stocks rallied on hopes that China will ease restrictions on Korean cultural content, after reports that a K-pop concert in Hong Kong may be broadcast live across China. Hybe rose 5 percent to 324,500 won, SM Entertainment gained 7.6 percent to 127,700 won, YG Entertainment climbed 4.3 percent to 66,200 won, and JYP Entertainment added 3.1 percent to 72,200 won. Japan’s and China’s markets showed little movement. The Nikkei 225 added 10.48 points to 50,412.87, while China’s Shanghai Composite Index rose 2.61 points to 3,919.98. 2025-12-23 17:48:20

Korea's bio-health exports eye bumper year in 2026 on global growth Editor's Note: This is the fourth installment in AJP's 2026 outlook series on South Korea's key industries. SEOUL, December 23 (AJP) - South Korea’s bio-health industry — spanning pharmaceuticals, medical devices and cosmetics — is set for a record year in 2026, with total exports expected to surpass the $30 billion mark, powered by the country’s strength in contract manufacturing and the global expansion of K-beauty. According to the Korea Health Industry Development Institute (KHIDI), bio-health exports are estimated to have risen 10.6 percent to $27.9 billion in 2025, and are forecast to grow a further 9 percent to $30.4 billion in 2026. Biopharmaceuticals remain the key growth engine. Products in the category — accounting for 65.7 percent of total exports — are estimated to have jumped 25.7 percent this year, driven by rising demand in the United States and Europe. Cumulative biopharmaceutical exports from January to October climbed 17.1 percent year on year to $5.39 billion, up from $4.6 billion in 2024. The growth streak is expected to accelerate in 2026, with biopharmaceutical exports projected to reach $8.5 billion, taking up 81.1 percent of shipments within the category. The Korea Chamber of Commerce and Industry (KCCI) also struck an upbeat tone, citing the ramp-up of large-scale CDMO facilities in Korea and the likelihood of major outsourcing contracts, particularly in the wake of tightening U.S. biosecurity rules. The White House said President Donald Trump has signed the National Defense Authorization Act (NDAA) for fiscal 2026, which incorporates the Biosecurity Act. The law restricts transactions with Chinese companies involved in genome analysis, CDMO operations and bio-related materials. “The U.S. Department of Defense regularly updates its ‘1260H list,’ and foreign media have reported that China’s Wuxi could be added in January,” said Oh Gi-hwan, executive director at KoreaBio. “Competition among Korean, Indian, Japanese and European firms to fill the market gaps left by Chinese companies is expected to intensify.” The Biotechnology Innovation Organization (BIO) noted that the 1260H list already includes Forensic Genomics International, a subsidiary of China’s BGI Group, and OriginCell Technology, a Shanghai-based cell-storage company. As Washington tightens scrutiny of Chinese biotechnology firms, analysts expect Korean companies — including Samsung Biologics, ST Pharm, Binex, 3billion and Macrogen — to benefit from shifting supply chains. Still, risks remain. KCCI warned that U.S. drug-price controls and “America First” supply-chain policies could weigh on profitability. “The outlook for next year is positive, and a rebound in investment is overdue after two weak years,” said Lee Seung-Kyou, vice president of KoreaBio. “Government efforts to promote venture investment are beginning to show results. In 2025, Korea demonstrated its competitiveness through technology transfers and successes such as SK Biopharm. In 2026, more Korean firms are expected to establish a global presence.” Lee cautioned, however, that tariffs, U.S.-China relations and U.S. biotechnology policy remain key uncertainties requiring close coordination between government and industry. KHIDI echoed the optimism. “In 2025, the bio-health industry posted record exports as recognition of major products increased, especially in the U.S. and Europe,” said Lee Byung-kwan, head of KHIDI’s Bio-health Innovation Planning Division. “In 2026, exports are again expected to break records, driven by market diversification, pharmaceutical growth and a recovery in medical-device shipments.” Cosmetics exports surged in 2025, particularly in advanced markets. As of October, exports to North America rose 19.5 percent to $2.01 billion, while shipments to Europe jumped 41.1 percent to $1.87 billion. Growth in the Asia-Pacific region, by contrast, was muted amid competition from low-cost Chinese products, with exports edging up 1.2 percent to $4.98 billion. Looking ahead, pharmaceutical exports are expected to benefit from stronger biopharmaceutical demand in the U.S. and Europe, expanded CDMO capacity and wider overseas approvals. Medical-device exports are also seen rising, supported by aging populations, chronic-disease prevalence and growing demand for diagnostic equipment, including ultrasound and X-ray systems, as well as aesthetic laser devices tied to K-beauty trends. South Korea currently ranks around 10th globally in biopharmaceutical exports, at about $5.8 billion, and aims to double shipments within five years. To accelerate market entry, the government plans to shorten biosimilar review times from 406 days to 295 days, and cut reimbursement listing periods under the national health-insurance program from 330 days to 150 days. The global pharmaceutical market reached $1.74 trillion last year — roughly three times the size of the semiconductor market — and is growing at an average annual rate of 4.7 percent, according to government data. Biopharmaceuticals are expanding even faster, at 11.9 percent a year. 2025-12-23 14:03:07

South Korean stocks lead broader Asian rally SEOUL, December 22 (AJP) - South Korean stocks rallied on Monday, with the benchmark KOSPI reclaiming the 4,100 mark as Asian equity markets advanced broadly. In Seoul, the KOSPI rose 2.1 percent to close at 4,105.93, while the tech-heavy KOSDAQ gained 1.5 percent to 929.14. Foreign investors turned net buyers for the first time in six sessions, helping lift the main index. Institutional investors bought a net 1.6 trillion won ($1.1 billion) worth of shares, while foreigners purchased 1.1 trillion won on the main board. Samsung Electronics climbed 4 percent to 110,500 won, and chipmaker SK hynix surged 6 percent to 580,000 won. LG Energy Solution, the third-largest company by market capitalization, rose 2.8 percent to 389,500 won. Investment holding company SK Square jumped 8.4 percent to 315,000 won. Samsung Life Insurance advanced 3.4 percent to 160,300 won, while Korea Zinc gained 5.6 percent to 1,383,000 won. Among the top 10 blue chips, HD Hyundai Heavy Industries was the biggest decliner, falling 1.3 percent to 514,000 won. Japanese shares also rose. The Nikkei 225 added 1.8 percent to 50,402.39. Toyota Motor gained 0.9 percent to 3,455 yen, while Mitsubishi Corp rose 1.9 percent to 2,495 yen. SoftBank Group jumped 4.1 percent to 17,815 yen, and Hitachi climbed 1.9 percent to 5,004 yen. Sumitomo Mitsui Financial Group rose 0.9 percent to 5,064 yen. Chip-related stocks outperformed, with Tokyo Electron, the ninth-largest company by market value, surging 6.3 percent to 33,170 yen, and Advantest, ranked tenth, gaining 4.5 percent to 20,050 yen. Sony Group, the third-largest by market capitalization, was the sole decliner among the top 10, falling 0.9 percent to 3,960 yen. Market sentiment was shaped by the Bank of Japan’s decision on Friday to raise its key interest rate to 0.75 percent from 0.5 percent, marking another step away from the country’s long-standing ultra-loose monetary policy. In China, the Shanghai Composite Index rose 0.7 percent to 3,917.36. 2025-12-22 17:21:49

Asian stocks edge higher ahead of BOJ rate decision SEOUL, December 17 (AJP) - Asian equities closed modestly higher on Wednesday, with South Korean stocks rebounding as heavyweight chipmakers led gains, while investors across the region remained cautious ahead of the Bank of Japan’s policy meeting later this week. In Seoul, the benchmark KOSPI rose 1.4 percent to 4,056.41, recovering above the 4,000 mark after two consecutive sessions of losses. The tech-heavy KOSDAQ slipped 0.6 percent to 911.07. Samsung Electronics jumped 5 percent to 107,900 won ($72.9), while SK hynix gained 4 percent to 551,000 won, lifting the broader market. The rally in memory chip stocks came as investors positioned for Micron Technology’s quarterly earnings due Thursday, widely viewed as a bellwether for the global memory cycle. By contrast, Samsung Biologics fell 2.2 percent to 1.75 million won, while HD Hyundai Heavy Industries slid 1 percent to 519,000 won. Stock-specific moves were also driven by President Lee Jae Myung’s remarks during a series of televised government briefings. During a health ministry briefing on Tuesday, Lee said hair-loss treatment — long categorized as cosmetic — was increasingly viewed as a medical necessity, adding that the government could consider caps on reimbursements or overall spending if fiscal burdens grew. The comments triggered a sharp rally in related stocks. Metalabs surged 29.7 percent to 2,205 won, TS Trillion jumped 29.8 percent to 340 won, and Innosin climbed 29.9 percent to 2,255 won, all hitting their daily upper limits. Metalabs and Innosin operate in hair-loss treatment, while TS Trillion sells anti-hair-loss shampoo. Casino stocks, meanwhile, came under pressure after Lee said during a culture ministry briefing that “foreigners-only casinos are, after all, gambling houses.” Paradise fell 7 percent to 16,260 won, and Lotte Tour Development slid 6.8 percent to 21,800 won. Entertainment stocks posted broad gains. SM Entertainment rose 5.8 percent to 118,200 won, JYP Entertainment climbed 4.1 percent to 70,800 won, Hybe advanced 2.7 percent to 304,000 won, and YG Entertainment added 1.7 percent to 64,700 won. In Japan, the Nikkei 225 edged up 0.3 percent to 49,512.28 as investors adopted a cautious stance ahead of the Bank of Japan’s interest-rate decision expected on Friday. Toyota Motor rose 0.6 percent to 3,349 yen ($21.5), SoftBank Group gained 1.3 percent to 16,755 yen, and Hitachi advanced 2.1 percent to 4,959 yen. Mitsubishi UFJ Financial Group fell 1 percent to 2,453 yen, while Sony slipped 0.8 percent to 4,039 yen. China’s Shanghai Composite Index outperformed the region, climbing 1.2 percent to 3,870.28. 2025-12-17 17:54:46

Much ado about nothing: Korea's "Hwandan Gogi" controversy winds down SEOUL, December 17 (AJP) - Claims that Korean ancestry dates back to the Stone Age and that an ancient polity called Hwan-guk once spanned territories stretching from western Europe to China resurfaced briefly in South Korea’s political spotlight this month — before being swiftly dismissed by historians. The claims originate from Hwandan Gogi, a book published in 1979 by Yi Yu-rip, founder of the religious group Taebaekgyo. The text asserts that Hwan-guk had a population of 180 million around 1600 B.C., exceeding the populations of present-day Bangladesh or Russia. Long regarded by scholars as pseudohistory, the obscure book drew renewed attention after President Lee Jae Myung raised the issue during a televised government briefing last Friday. During a round of briefings with state-run agencies, Lee asked Park Ji-hyang, chair of the Northeast Asian History Foundation, whether the government-funded think tank had examined the validity of Hwandan Gogi. The president’s public reference to what mainstream historians consider a forgery triggered immediate backlash from the academic community. On Friday, 48 academic associations in history and archaeology, including the Korean Ancient History Society, issued a joint statement rejecting the premise outright. “There is no academic debate between historians and pseudo-historians,” the statement said. “What exists are only one-sided defamation and absurd claims from pseudo-history directed at academia.” The scholars noted that no verified 1911 edition of the text — as claimed by its proponents — has ever been found, and that the book contains numerous modern terms that could not have existed in pre-modern Korea. Many of those terms were coined in Japan during the late 19th century following the Meiji Restoration, when Japanese intellectuals created new Sino-Japanese vocabulary to translate Western political and philosophical concepts such as “civilization” and “enlightenment.” Their presence in Hwandan Gogi is widely cited as evidence of modern fabrication. Although the book purports to be a compilation of texts from the late Goryeo and early Joseon periods, historians overwhelmingly agree that it was written by Yi himself and published in 1979. Yoo Hong-jun, director of the National Museum of Korea, described Hwandan Gogi as “a fantasy born from a sense of national inferiority and a form of self-consolation,” during a lecture Tuesday at the Korean Cultural Center in Washington, D.C. Yoo said the president’s remarks should not be interpreted as an endorsement. “The reference was not to validate its historical claims,” he said, “but to question how the Foundation is dealing with blind followers of such views.” Opposition politicians nevertheless seized on the controversy. Lee Jun-seok, leader of the Reform Party and former head of the People Power Party, wrote on Facebook: “If Hwandan Gogi is history, then The Lord of the Rings is history too.” He added that calling it a matter of interpretation was “like saying flat-earth theory is just another scientific opinion.” The presidential office moved quickly to contain the fallout. Spokesperson Lee Kyu-yeon said the president was merely encouraging public interest in ancient history research and “was not offering any positive evaluation of Hwandan Gogi or lending it legitimacy.” Lee Jeong-bin, a history professor at Kyung Hee University, bluntly summed up: “Discussing the text itself is a waste of time,” he said. “It only reconfirms that Hwandan Gogi is a complete fantasy — not history.” 2025-12-17 17:47:46

Korean and foreign brokerages chant KOSPI 5,000 for next year SEOUL, December 15 (AJP) - South Korea’s benchmark KOSPI has hovered around the 4,000 level throughout December, entering a consolidation phase after a stunning rally that lifted the index 64 percent so far this year. But after catching its breath, the market may be setting its sights on the next psychological milestone — 5,000 — in 2026, according to a growing chorus of domestic and foreign brokerages. Among 11 local brokerages that have published 2026 outlooks, the average upper-end forecast stands at 4,979, while the average lower-end projection is 3,737. Roh Dong-gil, an analyst at Shinhan Investment & Securities, predicted that the Korean stock market will enter “an uncharted new world” next year, driven by structural expansion in corporate earnings. “Growth sectors such as artificial intelligence, semiconductors, secondary batteries, healthcare and renewable energy will lead earnings growth,” Roh said. KB Securities analyst Lee Eun-taek also forecast what he described as a “best-ever bull market,” contingent on government-led capital market reforms and a strengthening won reinforcing investor confidence. Foreign investment banks are even more bullish. JPMorgan expects the KOSPI to reach 5,000 next year, Citi sees it climbing to 5,500, while Macquarie has raised its target to 6,000. Talk of a 7,500 KOSPI has also entered market discourse. In a report released on Nov. 6, KB Securities set its 2025 target at 5,000, while outlining a long-term bull-case scenario of 7,500. The optimism is underpinned by expectations of a bumper year for South Korea’s memory chip industry, widely seen as the main engine of economic growth in 2025. Both domestic and global institutions have recently upgraded their growth forecasts for the Korean economy. Nomura raised its 2026 GDP growth projection to 2.3 percent from 1.9 percent, while the OECD forecasts 2.2 percent. The Korean government, the Korea Development Institute and the International Monetary Fund each project 1.8 percent growth, while the Korea Institute of Finance sees 2.1 percent. Earnings expectations for major chipmakers are fueling the bullish case. SK hynix’s operating profit is forecast at 74.65 trillion won ($50.66 billion) next year, up 75.2 percent from this year, while Samsung Electronics’ operating profit is projected to jump 114.4 percent to 83.24 trillion won. Together, the two firms are expected to drive aggregate earnings growth among KOSPI-listed companies in 2025. Additional tailwinds include strong earnings momentum in AI-related sectors, government-led capital market reforms, and expectations of dollar weakness amid declining global interest rates. Many strategists believe a liquidity-driven rally could begin next year as the U.S. Federal Reserve continues its easing cycle, having already cut rates three times this year. Samsung Securities, in particular, expects the share of pro-Trump policymakers within the Fed to increase, amplifying calls for further rate cuts. With Chair Jerome Powell’s term set to expire in May, the next Fed leadership could tilt toward a more growth-friendly stance aligned with former President Donald Trump’s policy preferences. Still, economists warn against excessive optimism. “Levels such as 6,000 or even 7,500, as projected by Macquarie or some local brokerages, represent the extreme end of bullish scenarios,” said Kim Dae-jong, a professor of business administration at Sejong University. “Such targets would require a synchronized combination of global liquidity easing, a semiconductor supercycle and effective policy reform,” he said. “KOSPI 5,000 is not simply about economic recovery,” Kim added. “It ultimately depends on how far corporate profit structures improve and how deeply capital market reforms take root.” 2025-12-15 17:52:28

Asian stocks slide as AI bubble talk resurfaces SEOUL, December 15 (AJP) - Asian markets fell broadly on Monday following a retreat on Wall Street last Friday, as renewed concerns about an “AI bubble” weighed on sentiment after Broadcom shares tumbled 13 percent. South Korea’s benchmark KOSPI was down 1.5 percent at 4,104.44, while the tech-heavy KOSDAQ slipped 0.2 percent to 935.61 as of 10 a.m. Only seven of the 30 largest companies by market capitalization on the main board posted gains. Samsung Electronics fell 3.4 percent to 105,200 won ($71.2), and SK hynix slid 3.2 percent to 553,000 won. Hyundai Motor lost 1.8 percent to 296,000 won, while HD Hyundai Heavy Industries declined 3.1 percent to 555,000 won. Doosan Enerbility sank 3.4 percent to 77,000 won, Kia retreated 1.2 percent to 124,300 won, KB Financial slipped 0.8 percent to 125,100 won, and Hanwha Aerospace lost 3.8 percent to 925,000 won. Among gainers, LG Energy Solution edged up 0.2 percent to 446,500 won, while Samsung Biologics jumped 4.2 percent to 1,763,000 won. Korea Zinc, ranked 20th by market capitalization, was the biggest riser among the top 100 KOSPI stocks, surging 10.6 percent to 1,679,000 won. Local media attributed the rally to reports that the firm plans to build a 10 trillion-won ($6.77 billion) smelter in the United States, with more than 1 trillion won in combined investments from the U.S. government and private companies. Shares of the “Big Four” K-pop agencies all fell more than 1 percent. Hybe dropped 1.3 percent to 295,500 won, JYP Entertainment slid 1.3 percent to 67,300 won, SM Entertainment fell 2.1 percent to 101,600 won, and YG Entertainment declined 2.4 percent to 62,100 won. From Monday, the Korea Exchange (KRX) will temporarily lower its stock trading fees for two months, until Feb. 13 next year. The fee for limit orders will be set at 0.00134 percent and the fee for market orders at 0.00182 percent, representing a reduction of about 20 percent to 40 percent from current rates. The move is widely seen as an effort to align the KRX’s fee structure with that of Nextrade (NXT), which charges 0.00134 percent for limit orders and 0.00182 percent for market orders. Launched on March 4, Nextrade is South Korea’s first alternative trading system (ATS) and the only competitor to the Korea Exchange. Within three quarters of its launch, Nextrade posted its first cumulative operating profit. As of the end of October, its average daily trading volume over the previous six months reached 15.66 percent of the KRX’s average daily volume over the same period, surpassing the so-called “15 percent rule.” While the Korea Exchange can decide on short-term fee adjustments or exemptions of up to three months on its own, extending such measures beyond that period requires a review by the Financial Services Commission. In Japan, the Nikkei 225 fell 1.3 percent to 50,183.19. Toyota Motor rose 1.9 percent to 3,321 yen ($21.4), while Mitsubishi UFJ Financial Group gained 1.2 percent to 2,528.5 yen. SoftBank Group, the fourth-largest stock by market value, tumbled 7.2 percent to 16,600 yen. The Nikkei newspaper reported on Sunday that in the Kansai region, where economic ties with China are strong, bus tours and hotel reservations have been canceled in succession, hurting department store sales. It added that concerns are also spreading to the Tohoku and Hokkaido tourism sectors as the situation appears likely to drag on. The ongoing Japan-China spat has led to fewer Chinese tourists, though some analysts say the disruption could benefit Japan’s tourism industry in the long run. Teikoku Databank said the impact of travel advisories remains limited and could present an opportunity to tap alternative sources of demand. In China, the Shanghai Composite Index edged down 0.2 percent to 3,881.72, while Hong Kong’s Hang Seng Index fell 0.9 percent to 25,754.06. 2025-12-15 13:50:37

HOT STOCK: Korea Zinc soars on reports of $6.8 bn US smelter investment SEOUL, December 15 (AJP) - Shares of Korea Zinc Co., currently under a hostile takeover bid, jumped more than 11 percent Monday amid reports that the company is considering a 10 trillion won ($6.77 billion) investment to build a smelter in the United States. Korea Zinc shares rose as high as 1,914,000 won and closed at 1,592,000 won, up 4.9 percent from previous finish. Korea Zinc, the world's largest non-ferrous smelting company, is holding a board meeting and is expected to announce its decision later Monday following a vote by directors. According to industry sources, the company is pursuing a joint venture in the United States, inviting the U.S. government and local companies as partners. Washington reportedly approached Korea Zinc as part of its efforts to secure strategic mineral supplies following China's move in October to weaponize rare-earth exports. The plan has drawn strong opposition from Young Poong Group and MBK Partners, which are pursuing a hostile takeover of Korea Zinc. The two investors criticized the U.S. investment plan, arguing that it "goes against national interests by compromising the zinc business to defend Chairman Choi Yun Birm's personal management rights." They warned that the project could hollow out South Korea's domestic smelting industry and heighten the risk of leaks involving core technologies. Under the proposed structure, the U.S. Commerce and Defense Departments, along with American defense contractors, would invest about $690 million in the joint venture. If Korea Zinc issues new shares to the JV, the U.S. partners are expected to acquire roughly a 10 percent stake. The remaining 7 trillion won ($4.74 billion) would be financed equally by the U.S. government and JPMorgan, through loans guaranteed by Korea Zinc, according to the sources. If approved, the deal would position Korea Zinc as a key partner in Washington's push to build a rare-earth supply chain independent of China. Direct equity participation by the U.S. government in a Korean private company would mark the formal launch of a "strategic resources alliance" between Seoul and Washington aimed at countering China’s dominance in global rare-earth production. Korea Zinc Chairman Choi Yun Birm was included in the business delegation accompanying President Lee Jae Myung during his state visit to the United States in August. 2025-12-15 11:29:25

K-literature pipeline filled with next Han Kang candidates SEOUL, December 12 (AJP) - Han Kang's 2024 Nobel Prize has helped revive an almost-dead reading, literature and publishing community. Bookstores have regained life, and this year’s pipeline is rich with hopes of sustaining the Han Kang momentum. AJP introduces three potential post-Han candidates whose translated works have drawn overseas attention after publication and gained critical acclaim through major awards. Chung Bora “My grandfather used to say, ‘When we make our cursed fetishes, it’s important that they’re pretty.’” – from “Cursed Bunny” by Chung Bora. A tale of a rabbit figurine made as a cursed object that brings ruin to three generations of a vicious business family. The revenge of a fox against the human who exploited her. A world consumed by a plague that drives people to eat human flesh. And a woman seeking the man who will become the father of her child conceived without sex. Known for her horror and fantasy fiction, Chung Bora’s work brims with a critical gaze toward gendered violence, capitalism, patriarchy and the social construction of normalcy, as well as inexhaustible imaginative power. Chung, who began publishing fiction in 1998, remained a relatively obscure figure in South Korea until “Cursed Bunny” gained international acclaim. She nonetheless continued to write steadily. Her background is unusual. Chung is both a novelist and a translator of Russian and Polish works into Korean, as well as a professor of Russian language and literature. She studied Russian and English literature at Yonsei University, earned her master’s degree in Russian and East European Studies at Yale University, and received her PhD in Slavic Literature from Indiana University. “Cursed Bunny” was shortlisted for the 2022 International Booker Prize and the 2022 National Book Award for Translated Literature. Rights to the collection have been sold in 22 countries. In 2024, Chung received the Leipzig Book Fair Prize in Germany for this book. The 2023 National Book Award judges called “Cursed Bunny” “eerie, unsettling, and wildly imaginative, delving into the crevices of the psyche and the fissures of society, excavating tales that range from the uncanny to the downright horrifying,” describing it further as “thrilling and thought-provoking.” Her 2024 work “Your Utopia” was shortlisted for the Philip K. Dick Award, one of the world’s three major science fiction honors. Chung became the first Korean writer to be nominated and the only translated work among the six finalists. “Your Utopia” was published in the United States, the United Kingdom, Australia and India, and was selected by Time magazine as one of its “Books of the Year” in 2024. Kim Choyeop An android, fitted with synthetic skin indistinguishable from that of a human, decides to replace it once again with metal. The story of a member of an alien species born with two distinct selves in one body. SF author Kim Choyeop, one of South Korea’s most prominent contemporary writers, also has a striking background. She earned both her bachelor’s and master’s degrees in chemistry from Pohang University of Science and Technology (POSTECH), often called “the Caltech of Korea” and one of Asia’s top science and technology institutions. Kim is also hearing-impaired. She made her debut in 2017 at the age of 24, winning both the Grand Prize and a Special Award in the short and mid-length fiction categories at the Korean Science Literature Awards. Her short story collection “If We Cannot Go at the Speed of Light” and her novel “The Greenhouse at the End of the Earth” have each sold over 200,000 copies in Korea. Rights to “If We Cannot Go at the Speed of Light” have been sold to Japan, China, Taiwan and Spain, while “The Greenhouse at the End of the Earth” was acquired for over two million yen by major Japanese SF publisher Hayakawa at the time of release. The book has been sold to publishers in six countries and is set for film adaptation. Reports last year revealed she had signed a multimillion-dollar deal with a U.S. publisher. The short story “Spectrum”, from “If We Cannot Go at the Speed of Light”, is being adapted into an SF film directed by “House of Hummingbird” filmmaker Kim Bora. Kim is a prolific writer. In 2021 alone, she published four books, including her second short story collection “The World We Just Left Behind”, the micro-fiction collection “Planetary Language Bookshop”, and the full-length novel “The Greenhouse at the End of the Earth”, which was first released as a limited edition for members before general publication the following year. She also wrote the nonfiction book “Becoming Cyborg”, exploring the relationship between disability and technology. Online bookstore Aladin named her “Author of the Year” in 2021 based on a poll of publishers. Cheon Seon-ran A romance between a lonely human and a vampire. A post-apocalyptic world ravaged after the invasion of an alien species, half-goat and half-demon. SF writer Cheon Seon-ran made her debut in 2019, winning the Grand Prize in the novel category of the Korean Science Literature Awards. Her best-known work, “A Thousand Blues” (2020), is a science fiction novel set in South Korea in 2035. In a near future where humanoid robots have become commonplace, a jockey robot named Coli — born with a cognition chip by chance — sacrifices itself for Today, a racehorse whose cartilage is crumbling. The story follows Coli as it meets three women and explores themes of friendship and coexistence among humans, robots and animals. Critics have praised the novel for its warmth and empathy. “A Thousand Blues” has sold more than 200,000 copies in Korea. Publishing rights have been sold to more than ten countries, including the United States (Penguin Random House), Germany, the UK, Japan, Taiwan and China. The novel is also being adapted into a Hollywood film. “A Thousand Blues” has been optioned by Warner Bros. Pictures, the global studio behind the “Harry Potter” and “Dune” series. While the precise value of the deal has not been disclosed, reports indicate that Cheon will receive between 600 million and 700 million won ($406,000–$474,000) for the adaptation rights. 2025-12-12 17:34:23