Rare lung disease drug fails to secure health insurance coverage in Korea SEOUL, September 06 (AJP) - A breakthrough medication for a rare lung disease has been denied health insurance coverage in South Korea, leaving desperate patients to bear the full cost of treatment. According to the Health Insurance Review & Assessment Service on Saturday, the Tyvaso inhalation solution was rejected on Thursday during its ninth pharmaceutical benefit evaluation committee meeting of 2025. The drug, developed by U.S. based United Therapeutics Corporation and domestic copyrights owned by Korean firm Antrogen, was seeking coverage for pulmonary hypertension associated with interstitial lung disease, a serious and progressive disease. The denial effectively blocks patients from accessing the only approved treatment for the fatal condition, which gradually hardens lung tissue while dangerously elevating blood pressure in pulmonary arteries. Patients suffer severe breathing difficulties and declining physical capacity before ultimately facing life-threatening heart complications. The disease carries a grim prognosis, with five-year survival rates hovering around just 30 percent. For most patients, lung transplantation remains the sole hope, though the path is fraught with obstacles and lengthy waiting periods. Clinical trials demonstrated that Tyvaso reduced the risk of clinical worsening by 55 percent, offering patients precious time to await transplants or extend their lives. The drug had emerged as the only therapeutic option for this devastating condition. Medical experts argue the medication meets all criteria for essential drugs under current regulations, including lack of alternative treatments and proven clinical benefits for life-threatening conditions affecting small patient populations. About 1,671 patients were on lung transplant waiting lists between 2009 and 2020, with 31 percent dying while awaiting procedures. The drug was first applied for insurance coverage in June of last year but faced rejection, prompting a second attempt in February targeting severely ill patients with similarly disappointing results. 2025-09-06 15:16:33

[[K-Pop]] aespa's "Rich Man" album tops iTunes charts in 14 countries SEOUL, September 06 (AJP) - South Korean girl group aespa claimed the top spot on iTunes Top Songs charts in 14 countries with their sixth mini-album "Rich Man," their agency SM Entertainment said Saturday. The album, released Friday, dominated charts in 14 countries including Thailand, Taiwan, and Russia. It also secured positions within the top 10 in 29 countries including the United States, France, and Japan. "Rich Man" swept China's digital music platforms, capturing first place on QQ Music's overall and EP digital album sales charts while earning "Platinum" certification for surpassing 1 million yuan (about $140 million) in sales revenue. The album also topped Kugou Music's digital album sales chart and Tencent Music's K-pop rankings. The title track of the same name climbed to 10th place on domestic streaming platform Melon's Top 100 chart as of 1:40 p.m. Saturday, also claiming the top spot on Japanese music platform AWA's real-time trending chart. The record features six tracks in a range of styles, including hip hop, R&B, and pop. The title track "Rich Man" is described as a dance song driven by rough electric guitar riffs and an addictive topline, paired with shifting band sounds meant to highlight the group’s vocals and energy. "We all really liked the fact that we didn’t portray the meaning of 'Rich Man' literally through money or through like luxury, and it was portrayed more creatively," aespa member Giselle told British music magazine NME on Friday. "It was more about being happy and confident with yourself, rich in a mindful way." 2025-09-06 14:20:18

South Korea-US trade complaints double as Trump tariffs undermine FTA benefits SEOUL, September 06 (AJP) - South Korean exporters are grappling with mounting trade barriers as complaints about US market access surged to twice last year's levels, undermining benefits from the bilateral free trade agreement amid Washington's protectionist pivot. Trade grievances filed with South Korea's FTA support center jumped to 1,526 cases in the first seven months of this year, already surpassing the full-year 2024 total of 1,380 cases, according to data from the Ministry of Trade, Industry and Energy. The spike contrasts sharply with complaints about other major trading partners, which fell by half during the same period. China-related trade issues dropped to 1,787 cases while ASEAN concerns fell to 1,196 cases. U.S. trade complaints had been declining steadily from 1,746 cases in 2021 to 1,380 in 2023, before this year's dramatic reversal following President Donald Trump's return to the White House in January. Trump's administration has prioritized protectionist policies, wielding tariffs as a primary tool despite the Korea-U.S. FTA. While Seoul negotiated a reduction in reciprocal tariffs from 25 percent to 15 percent in July, Korean companies still face significantly higher barriers than the duty-free access they previously enjoyed. "Export companies' FTA utilization rates are steadily rising, but the gap between large corporations and small businesses still reaches 20 percentage points," said Democratic Party lawmaker Heo Jong-sik, who obtained the trade ministry data. The most common complaints involved certificate of origin issues, accounting for 3,870 cases, followed by product classification problems and tariff rate disputes, highlighting the complex bureaucratic hurdles now facing Korean exporters in their largest overseas market. 2025-09-06 11:01:56

US immigration raid at Hyundai Motor, LG Energy Solution battery plant comes amid ongoing economic cooperation SEOUL, September 06 (AJP) - U.S. immigration authorities arrested 475 people including about 300 South Korean nationals at a Hyundai Motor Group battery plant construction site in Georgia, creating diplomatic tensions just weeks after Seoul pledged billions in American investments. The sweeping raid Friday (local time) at the 3000-acre Hyundai Motor Group-LG Energy Solution joint venture facility came as the two countries were conducting follow-up negotiations on tariffs and investment plans following an Aug. 25 summit between Presidents Lee Jae Myung and Donald Trump. Homeland Security Investigations called it the largest single-site immigration enforcement operation ever conducted, targeting workers across multiple contractor levels at the electric vehicle battery manufacturing plant under construction. Hyundai Motor Group has committed to investing $26 billion across the United States over four years as part of Trump's push to revitalize American manufacturing. Chairman Chung Eui-sun personally announced the investment plan at the White House in March with Trump present. The timing has raised eyebrows among Korean officials and business leaders, coming amid Trump's broader campaign to use tariffs as leverage to attract foreign investment while simultaneously cracking down on illegal immigration. Most arrested South Korean workers allegedly entered on short-term visitor visas or through the visa waiver program but worked illegally at the construction site, violating immigration law despite the project's strategic importance to U.S.-Korea economic ties. The raid highlights a dilemma facing Korean companies: the U.S. government actively courts foreign investment while failing to provide sufficient work visas for overseas firms, forcing them to rely on limited pools of skilled American workers. Seoul responded swiftly to the crisis, with Foreign Ministry spokesperson and Deputy Minister Lee Jae-woong warning that "the rights and interests of our investment companies' economic activities and our nationals must not be unfairly violated during U.S. law enforcement processes." The ministry dispatched consular officials to the scene and established an emergency response team. Lee added Korea also conveyed its concerns and regret to the U.S. Embassy in Seoul, urging American authorities to ensure Korean nationals' legitimate rights are not violated during the enforcement process. Industry observers suggest the operation may signal to foreign investors that major investments don't guarantee immunity from immigration crackdowns, potentially complicating Trump's manufacturing revival strategy. Hyundai remained silent on the incident while LG Energy Solution said it was closely monitoring the situation and continuing cooperation with relevant authorities. Construction at the battery plant has been suspended, though Hyundai's electric vehicle production lines continue normal operations. Trump addressed the raid at a White House press conference, saying, "They were illegal aliens and ICE was just doing its job." "And we have, as I understand it, a lot of illegal aliens, some not the best of people, but we had a lot of illegal aliens working there." 2025-09-06 10:29:04

South Korea launches task force to develop AI-powered smart cities SEOUL, September 05 (AJP) - South Korea's Ministry of Land, Infrastructure and Transport has established a dedicated task force to spearhead the development of artificial intelligence-driven cities, marking a significant step beyond traditional smart city initiatives. The newly formed task force held its inaugural meeting on Friday, bringing together departments specializing in urban development, architecture, and mobility alongside key research institutes and public corporations. The ambitious AI city concept represents an evolution from existing smart city infrastructure, which has primarily focused on bus information systems, integrated urban control centers with CCTV networks, and smart crosswalks. Unlike conventional approaches, the AI city model aims to harness vast urban datasets to predict traffic congestion, energy consumption patterns and safety concerns before they emerge. The system would deliver personalized services across multiple sectors to citizens. The government has allocated 4 billion won (about $2.87 million) in next year's budget for selecting pilot city sites and developing comprehensive project blueprints for the AI-specialized demonstration cities. "The AI city represents a new future urban model that goes beyond simple technology adoption, where artificial intelligence takes the lead in urban planning and operations to revolutionize citizens' daily lives," said Lee Sang-joo, deputy minister for territorial and urban policy at the ministry. "Through this task force, we ask related agencies to work closely together so that policy formulation and implementation processes can be organically connected, and we will realize the Korean-style AI city vision by promptly creating results that citizens can experience." 2025-09-05 13:51:04

South Korea's egg prices surge ahead of traditional holiday Chuseok amid supply shortage SEOUL, September 05 (AJP) - South Korea's egg prices are expected to climb further as the Chuseok, traditional Korean thanksgiving holiday season, is set to take place in early October. Also, supply constraints stemming from extreme summer heat continue to squeeze the market. The Korea Rural Economic Institute projected Friday wholesale egg prices would reach 1,900 to 1,950 won (around $1.43 to $1.47) per 10 extra-large eggs in September, marking a potential 15.7 percent increase from the same period last year. The price surge, which began in April, has persisted for nearly six months. Wholesale egg prices breached the 1,900 won threshold in June with a 16.7 percent year-on-year increase, followed by rises of 19.4 percent in July and 20.1 percent in August. The institute attributed the sustained price pressure to an aging laying hen population and heat-related supply disruptions. Daily egg production is forecast to drop 1.1 percent to 49 million eggs this month compared to last year. Industry analysts point to additional factors contributing to the supply crunch, including recent animal welfare regulations that limit the number of hens per cage and outbreaks of highly pathogenic avian influenza that have reduced overall production capacity. Consumer prices have already felt the impact, with retail egg costs jumping 8 percent over the past year, according to Statistics Korea. The average nationwide price for 30 extra-large eggs hit 7,356 won in August, the highest level since July 2021. The government has scrambled to address mounting inflation concerns ahead of Chuseok, when demand for agricultural products traditionally spikes. Officials plan discount campaigns with major retailers and egg producers to ease the burden on consumers. Authorities acknowledged they have yet to identify the root causes behind the dramatic price increases. The Agricultural Ministry said investigations into potential price manipulation remain ongoing, while industry groups have pledged to normalize pricing within the week. The Rural Development Administration reported successful trials of automated temperature control systems in chicken farms during the summer months, citing their critical importance for poultry welfare as chickens struggle to regulate body temperature in extreme heat, which significantly reduces quality egg production. Relief may not come until after the holiday period ends. The institute forecasts wholesale prices will remain around 1,900 won through November before declining as new laying hens enter production and seasonal demand subsides. 2025-09-05 11:12:27

Korea's top business lobby ties economic recovery to green growth SEOUL, September 04 (AJP) - South Korea’s most powerful business lobby urged the government Thursday to pair consumer stimulus with an ambitious green transition as the country struggles with sluggish growth and rising climate pressures. The Federation of Korean Industries, which represents the country’s largest conglomerates, presented a seven-point “renewal” strategy that it said could both spur household consumption and advance the nation’s carbon neutrality goals. The initiative borrows from China’s trade-in policies, which encourage consumers to replace outdated goods with cash rebates for newer, more efficient products. The plan underscores growing pressure on policymakers to find ways of jump-starting Asia’s fourth-largest economy, which has been buffeted by weak consumer spending, global trade frictions and the costs of a low-carbon transition. The proposals cover a wide range of sectors: transforming homes into high-efficiency “smart” dwellings, accelerating the shift to green mobility, overhauling aging infrastructure, upgrading artificial intelligence systems, and expanding cultural and residential development. Much of the plan hinges on large-scale replacement of old vehicles and appliances. The federation called for scrappage subsidies to retire internal combustion cars and broadened incentives for electric and hydrogen vehicles, including tax breaks and direct subsidies. It also urged the government to extend programs that support energy-efficient appliances and expand eligibility for consumers. On the industrial front, the group recommended greater support for “smart green” industrial complexes and new carbon-reduction incentives to speed companies’ environmental transitions. For housing, it pushed for easing regulations on reconstruction projects and loosening floor-area restrictions to make green remodeling more attractive to private developers. “The seven tasks proposed by FKI serve as a roadmap to inject vitality into the stagnant economy and secure future growth engines,” said Lee Sang-ho, head of the federation’s economic and industrial research department. “The government needs to actively consider this as a means to improve Korea’s economic fundamentals by enhancing productivity across all sectors.” 2025-09-04 16:15:41

South Korea finds lifeline in Southeast Asia as US tariffs weigh on exports SEOUL, September 04 (AJP) - South Korea’s exports to Southeast Asia surged in August, offsetting declines in shipments to the United States as Washington’s trade barriers increasingly disrupt bilateral flows. Exports to the Association of Southeast Asian Nations rose 12 percent from a year earlier to a record $10.89 billion, the trade ministry said Thursday. It was the third consecutive month of growth to the bloc, which has become an increasingly vital market for Korean manufacturers. For the second month in a row, exports to ASEAN outpaced those to the United States, a shift last seen in late 2023. U.S.-bound shipments tumbled 12 percent, the sharpest fall this year, while exports to China slipped 2.9 percent. Semiconductors led the rebound in Southeast Asia, with sales up 47 percent to $2.7 billion, fueled by investments in artificial intelligence and data centers. Shipments of vessels soared nearly 360 percent, while oil products rose 16 percent and petrochemicals 13 percent, though pricing pressure from Chinese competitors tempered gains. South Korean conglomerates are also deepening their footprint in the region. Hyundai Motor and steelmaker POSCO are building new factories and export hubs in Malaysia, Indonesia and Vietnam, underscoring ASEAN’s growing role in Korea’s global supply chain strategy. Economists say the region could soon eclipse both the United States and China as South Korea’s most dynamic export market, driven by its young demographics, expanding middle class and rapid digital transformation. Still, risks loom. Chinese imports to five major ASEAN economies grew 6 percent between 2021 and 2024, compared with just 0.1 percent for Korean goods, according to a recent trade agency report. And much of Korea’s export strength remains tied to semiconductors, many of which are shipped to Vietnam for packaging and testing before being re-exported to the United States — a structure that leaves Korean trade exposed to geopolitical tensions. 2025-09-04 16:08:37

Nongshim taps Netflix hit 'KPop Demon Hunters' to rival Samyang SEOUL, September 4 (AJP) - Nongshim, South Korea’s largest instant noodle maker, has teamed up with the hit Netflix animation "KPop Demon Hunters" in a bid to challenge Samyang Foods, whose fiery Buldak noodles have become a global social media sensation. The collaboration places characters from the series on packaging for Nongshim’s flagship Shin Ramyun and Shrimp Crackers. The show, which has been streamed more than 260 million times worldwide, prominently depicts cup noodles resembling Nongshim products — a link the company seized on to create what it calls a “natural synergy.” Nongshim also released special edition Shin Ramyun cups featuring designs seen in the series, with three versions highlighting the protagonists Rumi, Mira and Zoey. The move underscores intensifying competition in the $50 billion global instant noodle market, where Samyang has built a cult following with its hyper-spicy Buldak line, propelled by online “fire noodle” challenges and celebrity endorsements. Analysts see Nongshim’s foray into entertainment tie-ins as a creative counteroffensive aimed at younger consumers. The strategy comes as the company faces sluggish earnings. In the second quarter, Nongshim reported consolidated revenue of 867.7 billion won, a modest 0.8 percent increase, while operating profit slipped 8.1 percent to 40.2 billion won. “We expect recovery in North American operations in the second half, with price increases of about 10 percent implemented in July having a positive impact on third-quarter results,” said Shim Eun-joo, an analyst at Hana Securities. Investors appear encouraged by the brand’s pop culture play. Since the partnership was announced on Aug. 20, Nongshim shares have surged about 19 percent. 2025-09-04 11:00:14

South Korea signals fresh push to join Asia-Pacific trade bloc SEOUL, September 3 (AJP) - The South Korean government said on Wednesday that it would consider joining a sweeping Asia-Pacific trade pact, reviving long-dormant discussions as the country looks to diversify export markets amid heightened uncertainty over U.S. trade policy. The announcement came during an economic ministers’ meeting led by Deputy Prime Minister and Finance Minister Koo Yoon-cheol, where officials also outlined support measures for exporters hit by recent tariff negotiations with Washington. The government said it would “review CPTPP membership to secure an economic alliance network with like-minded countries.” South Korea first weighed joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, in 2021 under former President Moon Jae-in. The effort stalled in the face of fierce opposition from farmers worried about an influx of agricultural imports. The renewed interest reflects Seoul’s growing unease over its dependence on the United States and China, its two largest trading partners, as tensions between the superpowers deepen and protectionist policies spread. Officials say that large-scale free trade agreements are becoming more important for safeguarding access to global markets. The CPTPP, which took effect in 2018 after the United States pulled out of its predecessor pact, now counts 12 members including Japan, Canada, Australia, Mexico and the United Kingdom. Together, they represent about 14 percent of global economic output. Securing entry would not be straightforward. All existing members must approve new applicants, and Japan holds particular influence. While ties between Seoul and Tokyo have warmed under President Lee Jae Myung, longstanding disputes — including South Korea’s ban on Japanese seafood imports following the 2011 Fukushima nuclear disaster — remain major obstacles. At home, agricultural groups are also expected to resist any move toward membership. For now, officials stressed that the government is only beginning a review process, with any formal application requiring extensive consultations and approval at the highest levels. 2025-09-03 15:27:28