Journalist

Ryu Yuna, Lee Jung-woo, Kim Hee-su, and Joonha Yoo
  • Asian stocks rise following record close for S&P 500
    Asian stocks rise following record close for S&P 500 SEOUL, December 26 (AJP) - Asian stock markets climbed on Friday, following a rally on Wall Street after U.S. economic data showed stronger-than-expected third-quarter growth earlier in the week. In Seoul, the benchmark KOSPI rose 0.6 percent to 4,132.65 as of 10:14 a.m., and the KOSDAQ gained 0.2 percent to 916.70. The regional advance followed a Wednesday close in which the S&P 500 rose 0.3 percent to an all-time high of 6,932.05. The Dow Jones Industrial Average gained 0.6 percent to 48,731.16, and the Nasdaq Composite advanced 0.2 percent to 23,613.31. According to the U.S. Department of Commerce, third-quarter GDP grew at an annualized rate of 4.3 percent, surpassing the Dow Jones consensus forecast of 3.2 percent. Samsung Electronics led the gains in Seoul, jumping 3.4 percent to 114,900 won. The stock reached an intraday high of 115,100 won, breaking its previous record of 112,500 won set on Tuesday. SK hynix gained 2 percent to 600,000 won. The semiconductor sector was supported by a 3.8 percent rise in Micron Technology to a record high. Additionally, Nomura Securities raised its target price for Samsung Electronics to 160,000 won on Friday. "The memory supercycle is likely to last at least until 2027," Nomura stated. Performance among other large-cap stocks was mixed. Hanwha Aerospace rose 1.3 percent to 889,000 won, but LG Energy Solution fell 1.5 percent to 384,500 won. Other decliners included HD Hyundai Heavy Industries, which dropped 1 percent, and Doosan Enerbility, which fell 1.5 percent. KB Financial Group and Naver slipped 1.2 percent and 1.1 percent, respectively. The entertainment sector saw a broad decline, with Hybe falling 2.5 percent, SM Entertainment dropping 2.6 percent, and JYP Entertainment losing 1.5 percent. In the Seoul foreign exchange market, the won-dollar exchange rate opened at 1,449.9 won per dollar and moved to 1,442.9 won by 11 a.m. In Tokyo, the Nikkei 225 rose 0.9 percent to 50,849.62. All of Japan’s 10 largest companies by market capitalization gained, with SoftBank Group jumping 2.5 percent and Fast Retailing advancing 2.3 percent. Toyota Motor rose 0.4 percent, while tech firms Advantest and Tokyo Electron gained 2 percent and 1 percent, respectively. Chinese markets were little changed, with the Shanghai Composite Index edging up 0.1 percent to 3,964.91 and the Hang Seng Index in Hong Kong rising 0.2 percent to 25,818.93. 2025-12-26 12:49:57
  • Seoul to decide whether to lift ban on North Korean state media access
    Seoul to decide whether to lift ban on North Korean state media access The South Korean government is weighing whether to allow public access to North Korea's state-run newspaper Rodong Sinmun and, more broadly, to ease restrictions on North Korean websites, as part of a policy review led by the National Intelligence Service (NIS). The issue will be discussed at a Cabinet-level meeting on Friday involving officials from the NIS, the Ministry of Unification, the Ministry of Education, the Ministry of Culture, Sports and Tourism, the Ministry of Science and ICT, and the Korea Communications Commission. Under current law, most North Korean publications are classified as "special materials" under Article 7 of the National Security Act of 1970. The designation bans public access to materials deemed to promote or praise North Korea's political system or deny South Korea's democratic order. According to Democratic Party lawmaker Youn Kun-young, a member of the National Assembly's Intelligence Committee, the NIS has notified lawmakers that it is reviewing whether to reclassify Rodong Sinmun at the request of the Ministry of Unification. The move follows remarks by President Lee Jae Myung during a recent government briefing by the unification ministry last week, in which he said South Koreans should not be treated as incapable of distinguishing propaganda from facts. He argued that the public should be trusted to exercise judgment rather than be shielded through blanket restrictions. In a report to the National Assembly, the NIS said it is "positively considering expanding access to North Korean websites" in order to strengthen the public's right to know and promote inter-Korean exchange. The agency also said it plans to cooperate with two bills currently under review by the National Assembly's Foreign Affairs and Unification Committee that would establish a legal framework for the management and use of North Korean materials. At present, nearly 90 percent of all North Korean publications are classified as "special materials," making them inaccessible to the general public. Access is granted only with special approval from the Ministry of Unification and is limited to supervised viewing on designated computers at the Unification Education Institute. Ordinary users attempting to visit North Korean websites typically encounter a notice stating that the content is blocked as illegal or harmful. As part of the policy shift, the NIS has also decided to abolish its existing internal guidelines on North Korean materials and transfer authority over their management to the Ministry of Unification, signaling a broader institutional realignment in how such content is regulated. 2025-12-26 10:32:48
  • INTERVIEW: Prevention starts with language: forensic scientist warns of growing drug risks in Korea
    INTERVIEW: Prevention starts with language: forensic scientist warns of growing drug risks in Korea SEOUL, December 25 (AJP) - When a high school senior in Daejeon fatally stabbed his mother and aunt while under the influence of LSD, the crime in 2016 stunned the nation. For Chung Heesun, a veteran forensic scientist and former head of the National Forensic Service (NFS), it was another signal that South Korea’s long-held belief in being a drug-free society is rapidly eroding. “He didn’t even know he had stabbed his mother,” Chung said, recalling the forensic findings. “That’s why drugs are terrifying — they destroy judgment.” Now a chaired professor of forensic science at Sungkyunkwan University, Chung is regarded as one of South Korea’s leading authorities on toxicology and drug detection. She warns that drugs have quietly permeated everyday life, reshaping social attitudes and lowering psychological barriers — particularly among young people. Language, she argues, is part of the problem. Food and beverage products increasingly adopt the word mayak — meaning “drug” in Korean — to emphasize addictiveness, from “mayak gimbap” to “mayak coffee.” What may seem like playful marketing, Chung says, has deeper consequences. “That’s how people become desensitized,” she said. “We, as adults, must stop using those words.” She believes early, age-appropriate education is the most effective line of defense. Preventive spending, Chung argues, could save as much as 18 times the cost of treatment, law enforcement and incarceration later. Chung’s own career in forensic science began unexpectedly. As a university student, she attended a lecture introducing the work of the NFS — an institution she had not even known existed. Despite friends discouraging her from entering what they viewed as a grim profession focused on autopsies, she joined immediately after graduation. The work proved intellectually absorbing. Over the years, Chung helped crack some of South Korea’s most complex criminal cases, including the 1995 death of pop singer Kim Sung-jae. In that case, she identified a rare animal anesthetic after analyzing more than 130,000 substances. “The intellectual thrill of discovering an unknown substance,” she said, “that’s the greatest satisfaction a scientist can feel.” But the landscape of drugs has grown far more complex. South Korea, once widely described as a drug-free nation, no longer meets that definition. To qualify, drug offenders must number fewer than 20 per 100,000 people. Today, that figure has more than doubled to above 40. According to the Korea Customs Service, drug smuggling cases involving air travelers reached 557 from January to November this year — nearly triple the figure from the same period a year earlier. President Lee Jae Myung acknowledged the severity of the issue in November, instructing the National Intelligence Service to “fully commit all capabilities” to dismantling domestic drug networks. He even raised the possibility of launching an independent narcotics investigation agency. The “2024 White Paper on Narcotics Crimes,” released by the Supreme Prosecutors’ Office in June, shows that 103,231 drug offenders were recorded over the past five years — an average of more than 20,000 annually. Last year alone, about 23,000 offenders were detected, marking the second consecutive year the figure exceeded 20,000. Chung attributes the rapid spread to increasingly sophisticated production and distribution methods. “There are about 1,400 types of designer drugs now,” she said. “They tweak the chemical structure slightly, making them nearly impossible to detect.” Even advanced forensic techniques have limitations. Hair testing, widely used to trace drug use, can fail to detect one-time consumption — especially if hair has been repeatedly bleached or dyed. Analysts typically test hair at the crown, which grows about one centimeter per month, allowing investigators to reconstruct a timeline of use. Teenage girls, Chung noted, are becoming particularly vulnerable. Diet pills marketed as performance-boosting or slimming aids often serve as a gateway. “It starts with curiosity,” she said. “But it becomes dependency.” She is firmly opposed to cannabis legalization, describing marijuana as a stepping-stone drug rather than a harmless endpoint. “People rarely stop at marijuana,” she said. “They move on to something stronger. It never ends there.” Chung’s commitment to public education remains central to her work. She recently returned to her alma mater, Sookmyung Women’s University, to deliver a special lecture — and was struck by the packed hall. “The students were so earnest,” she said. “It was touching.” She recalled her own student days, when she served as vice president of the student council, an era when campus leadership structures borrowed heavily from military terminology. “I was like a brigadier general,” she said with a smile. “The student council president was the division commander.” Occasionally, she sees the long arc of her influence. After one lecture, a former student told her she had pursued pharmacy and later joined the NFS after reading Chung’s book. “Just one student like that,” Chung said, “makes every talk worthwhile.” Some of her most enduring professional ties were forged abroad. In 1989, as a junior analyst, Chung applied for the British government’s Chevening Scholarship. Her request initially faced resistance within the NFS — no woman, let alone an unmarried one, had studied abroad before. She persisted. A British Embassy official, Warwick Morris, kept her scholarship slot open. Chung later studied forensic science at King’s College London. Years later, Morris returned to Seoul as British ambassador. By then, Chung was deputy director of the NFS. He later presented her with a British royal honor on behalf of Queen Elizabeth II. The two still exchange Christmas letters, and Chung visits his home whenever she is in London. Her ambitions now extend beyond her formal career. Chung hopes to build a science museum that helps young students approach science without fear. “Science shouldn’t intimidate anyone,” she said. “If a museum can make it approachable, that’s my next mission.” 2025-12-25 10:47:53
  • Asian shares opens higher as Christmas Eve boosts sentiment
    Asian shares opens higher as Christmas Eve boosts sentiment SEOUL, December 24 (AJP) - South Korean and Japanese stocks opened higher on Wednesday, buoyed by the Christmas Eve spirit, while markets in China and Hong Kong stayed flat. In Seoul, the benchmark KOSPI rose 0.3 percent to 4,129.06 and tech-heavy KOSDAQ added 0.31 points to 919.87. Samsung Electronics fell 50 Korean won to 111,450 won ($76.2), while SK hynix gained 0.9 percent to 589,500 won. LG Energy Solution rose 0.6 percent to 390,500 won. Samsung Biologics declined 1.2 percent to 1,699,000 won. HD Hyundai Heavy Industries slid 1.7 percent to 524,000 won, and Doosan Enerbility lost 0.8 percent to 77,000 won. Hanwha Ocean, which jumped more than 12 percent on Tuesday, dropped 1.8 percent to 121,200 won. Auto stocks edged up with Hyundai Motor rising 2.4 percent to 294,000 won and Kia up 1.1 percent to 121,500 won. Entertainment stocks, which surged sharply the previous day, pulled back. HYBE slipped 0.2 percent to 324,000 won, JYP Entertainment fell 0.6 percent to 71,800 won, YG Entertainment declined 0.3 percent to 66,000 won, and SM Entertainment edged down 0.3 percent to 127,300 won. In the country's foreign-exchange market, the won was traded at 1,484.9 per dollar, up 1.3 won from the previous close. The rate dropped more than 20 won shortly after opening at 9 a.m., following verbal intervention by authorities. Officials from the Ministry of Economy and Finance and the Bank of Korea said in a statement aimed at stabilizing markets, "The weak won against the greenback is not desirable." After the comments, the won strengthened sharply to 1,465.5 per dollar at 9:05 a.m., and extended its gains to 1,458 per dollar by 9:40 a.m. The ministry also announced a couple of measures to address the recent surge in the won-dollar exchange rate. Under the plan, individual investors who sell overseas stocks and reinvest the proceeds long-term in the domestic stock market will receive temporary capital gains tax relief. The government will also introduce new forward exchange products for retail investors and provide additional tax deductions for those who hedge foreign exchange risk through forward contracts. In addition, domestic parent companies will face lower tax burdens on dividends received from overseas subsidiaries. In Japan, the Nikkei 225 gained 0.4 percent to 50,615.25. Japanese shares rose, but top market-cap stocks showed mixed results. The six largest stocks by market value all fell together. Toyota dropped 0.7 percent to 3,390 yen ($21.8). Mitsubishi UFJ Financial Group fell 0.8 percent to 2,494 yen, and SoftBank Group declined 1.4 percent to 17,495 yen. Sony slipped 0.9 percent to 4,032 yen, Hitachi edged down 0.1 percent to 5,004 yen, and Sumitomo Mitsui Financial Group lost 0.3 percent to 5,112 yen. Tokyo Electron rose 2.2 percent to 33,740 yen, and Advantest gained 1.7 percent to 20,000 yen. In China, the Shanghai Composite Index edged up 2.62 points to 3,881.72, and Hong Kong's Hang Seng Index gained 5.95 points to 25,754.06. All stock markets around the world will be closed for Christmas on Thursday. 2025-12-24 11:44:03
  • A Christmas story from Seoul: in many shapes – and beyond
    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 Koreas stocks edge up, China and Japan trade flat
    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
  • Koreas bio-health exports eye bumper year in 2026 on global growth
    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
    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
    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: Koreas Hwandan Gogi controversy winds down
    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