Journalist

Kim Yeon-je
  • KOSPI survives broad Asian stock slide U.S. bank concerns
    KOSPI survives broad Asian stock slide U.S. bank concerns SEOUL, October 17 (AJP) - Major Asian stock markets fell across the board Friday amid renewed jitters over the financial health of U.S. regional banks. Korean shares, however, defied the trend, extending their rally to fresh record highs. The benchmark KOSPI finished nearly flat but managed to notch a new closing high of 3,748.8, supported by strong gains in battery stocks after data showed global electric vehicle sales hit an all-time high in September. EcoPro soared 27.04 percent to 73,300 won ($51.38), while LG Energy Solution added 3.21 percent to close at 434,000 won. Defense stocks retreated as optimism grew over potential cease-fire talks in Ukraine. Hanwha Aerospace slid 2.56 percent to 912,000 won, and LIG Nex1 dropped 3.15 percent to 431,000 won. Elsewhere in Asia, sentiment soured following the negative U.S. news. Japan’s Nikkei 225 lost 1.44 percent to 47,582.15, and Taiwan’s TAIEX declined 1.25 percent to 27,302.37. On the mainland, China’s Shanghai Composite Index fell 1.95 percent to 3,839.76, pressured by simultaneous declines in CPI and PPI data as well as renewed anxiety over Washington’s threat of 100-percent tariffs. Hong Kong’s Hang Seng Index also tumbled about 2.7 percent, hovering near the 25,200 level. 2025-10-17 17:11:42
  • Exchange, brokers warn as Koreas margin loans surge nearly 50%
    Exchange, brokers warn as Korea's margin loans surge nearly 50% SEOUL, October 17 (AJP) - Leveraged stock investment in South Korea has soared nearly 50 percent this year to surpass 23 trillion won ($16.4 billion), as the benchmark KOSPI’s 50-percent rally fueled aggressive borrowing for equity trades — prompting warnings from regulators and market participants. The balance of margin accounts at securities firms reached 23 trillion won, up 49 percent from 15.8 trillion won at the end of 2024, according to data released Friday by the Korea Financial Investment Association (KOFIA) and the Korea Exchange (KRX). In a joint statement, KOFIA and KRX cautioned investors about the risks of leveraged trading, emphasizing that excessive borrowing could amplify losses in the event of a market downturn. They noted a particularly sharp increase in margin borrowing among investors under 30 and over 50, raising concern about overexposure among retail investors and retirees. Margin trading allows investors to borrow funds from brokers to purchase shares, with those shares serving as collateral. If stock prices fall below maintenance levels, the collateral value erodes, triggering forced liquidations, or margin calls, at depressed prices — a process that can exacerbate market volatility. 2025-10-17 16:13:26
  • Koreas job growth in September hits 19-Month high, manufacturing still tepid
    Korea's job growth in September hits 19-Month high, manufacturing still tepid SEOUL, October 17 (AJP) - South Korea saw the largest job addition in 19 months in September, driven mainly by service-sector hiring under government stimulus measures, while manufacturing and youth employment remained sluggish, data showed Friday. According to the Ministry of Data and Statistics, the number of employed people aged 15 and over reached 29.15 million in September, an increase of 312,000 from a year earlier. It was the largest on-year gain since February 2023, when employment rose by 329,000. The headline employment data has stayed positive throughout the year, but gains were uneven across sectors and age groups. Employment among young people aged 15 to 29 fell by 146,000, marking the steepest decline among all age groups. Workers in their 50s also continued to lose jobs for the ninth consecutive month. In contrast, those aged 60 and older added 380,700 positions, more than offsetting the declines in younger cohorts. By industry, the largest job gains were seen in health and social welfare services, which added 304,000 positions (a 10.1 percent increase), followed by arts, sports and recreational services with 75,000 (up 14.5 percent) and education services with 56,000 (up 2.9 percent). The nation’s traditional backbone sectors continued to shed workers. Construction lost 84,000 jobs (down 4.1 percent), and manufacturing contracted by 61,000 (down 1.4 percent). The agriculture, forestry and fisheries sector also saw a sharp fall, losing 146,000 jobs (down 9.1 percent). Among self-employed workers, those with employees increased by 30,000, partly reflecting government support programs such as livelihood recovery subsidies. In contrast, self-employed without employees declined by 80,000, and family workers decreased by 20,000. The number of unemployed persons stood at 635,000, up 12,000 from a year earlier, led largely by workers in their 30s to 50s. Meanwhile, the population classified as “inactive,” who have given up job hunting, increased by 42,000 (up 1.7 percent) to 2.52 million. On a brighter note, the number of inactive people aged 15 to 29 and those in their 30s fell by 34,000 and 12,000, respectively. 2025-10-17 15:36:19
  • Asian stocks upbeat, KOSPI leads the pack to new highs
    Asian stocks upbeat, KOSPI leads the pack to new highs SEOUL, October 16 (AJP) - Asian shares extended gains on Thursday as expectations for a U.S. rate cut outweighed concerns over renewed trade tensions between Washington and Beijing. Korea’s benchmark KOSPI jumped 2.49 percent to close at a record high of 3,748.37, driven by strong foreign and institutional buying. Nine of the top 10 blue chips advanced, led by an 8 percent surge in Hyundai Motor and a 7 percent rise in Kia Motors amid growing optimism for a breakthrough in Seoul–Washington tariff talks. The Supreme Court’s ruling on SK Group Chairman Chey Tae-won’s $1 billion divorce case drew heavy attention, sending related stocks in mixed directions. SK hynix climbed 6.98 percent to 452,000 won (US$318.61), while holding company SK Inc. slid 5.62 percent to 218,500 won. Preferred shares of SK Discovery, another Chey-affiliated firm, eased 1.25 percent to 35,550 won. Elsewhere in the region, Taiwan’s TAIEX continued its upward momentum, rising 1.36 percent to 27,647.87, while Japan’s Nikkei 225 added 1.27 percent to close at 48,277.74. China-related markets remained subdued. The Shanghai Composite Index fluctuated throughout the session before ending 0.1 percent higher at 3,916.23, while the Shenzhen Component Index slipped 0.25 percent to 13,086.41. Data from the National Bureau of Statistics showed declines in both the consumer price index and producer price index, heightening concerns over slowing domestic demand. Markets in Hong Kong and Singapore opened lower as financial shares retreated. Investors worried that further U.S. rate cuts could compress banking-sector margins. The Hang Seng Index and Straits Times Index were each down about 0.3 percent in afternoon trading. 2025-10-16 17:13:25
  • Korean Economy/Business Calendar
    Korean Economy/Business Calendar SEOUL, October 16 (AJP) - Oct. 22, Wed Producer Price Index (Bank of Korea) Economically Active Population Survey (Ministry of Data and Statistics) Oct. 23, Thu Monetary Policy Meeting (Bank of Korea) Q3 Results/ Conference Call (Samsung Heavy Industries) Oct. 24, Fri Finance and Economy Minister’s business trip to the U.S. (- Oct. 27) Oct. 27, Mon 2023 Income Mobility Statistics Results (Ministry of Data and Statistics) Q3 2025 Results (Hanwha Ocean) Oct. 28, Tue October 2025 CSI (Bank of Korea) 2025 Q3 Real GDP (Bank of Korea) Oct. 29, Wed October 2025 BSI (Bank of Korea) 2024 Annual Corporate Performance Analysis (Bank of Korea) Q3 2025 Results (SK hynix) Oct. 30, Thu Q3 2025 Final/Conference Call (Samsung Electronics) Q3 2025 Results (LG Energy Solution) Q3 2025 Results (Samsung SDS) Oct. 31, Fri Sept. Industrial Activity Data (Ministry of Data and Statistics) Q3 2025 Final Results (LG Electronics) 2025-10-16 17:03:30
  • SK chiefs divorce case sent back to lower court
    SK chief's divorce case sent back to lower court SEOUL, October 16 (AJP) - The Supreme Court of Korea on Thursday sent the high-profile divorce case of SK Group chairman Chey Tae-won and his estranged wife Roh Soh-yeong back to the high court. The top court found flaws in the lower courts' assessment of Roh's contribution to the conglomerate's growth, ruling that some 30 billion Korean won (US$21 million) in slush funds from Roh's father, the late former President Roh Tae-woo, which were funneled into SK Group, cannot be considered assets jointly accumulated by the couple. The court clarified that such illegally raised funds constitute bribes and therefore cannot be subject to property division, requiring a recalculation of the couple's marital assets. The court also determined that stocks or cash donated or disposed of by Chey in the course of managing the conglomerate cannot be subject to division if they are no longer held. However, the court finalized its order for Chey to pay 2 billion won in alimony, dismissing his appeal. Thursday's partial referral to the lower court came after the appellate court, which overturned the previous ruling in May last year, ordered Chey to pay Roh 1.38 trillion won (about US$970 million) in property division and 20 billion won in alimony, marking it as the most expensive divorce case in the country's history. In the first trial in December 2022, Roh sought 50 percent of Chey's shares in SK Holdings, the conglomerate's parent company, but the court upheld Chey's argument that she had not contributed to his acquisition of the shares, which he inherited from his father. SK Group appeared relieved by the court's decision to remand the case in favor of Chey, allowing him to avoid the worst-case scenario of having to sell off stakes in SK affiliates to pay astronomical sums to Roh, which could have jeopardized his control over the conglomerate. "We respect the court's decision," Chey's legal representatives said in a press release, adding, "It is fortunate that the misunderstandings and factual errors in the appellate court's ruling have been rectified." But looming uncertainties over the prolonged divorce settlement sent SK shares tumbling, down 5.62 percent from the previous trading session to close at 218,500 won. Chey is the chief of the country's second-largest conglomerate after Samsung. The couple married in September 1988 and have three children between them. In December 2015, Chey revealed that he had a child out of wedlock and later filed for divorce in July 2017 as the two failed to agree on the terms of separation. 2025-10-16 10:41:37
  • Asian shares lifted by dovish Powell comments
    Asian shares lifted by dovish Powell comments SEOUL, October 15 (AJP) - Asian stocks finished broadly higher on Wednesday after dovish remarks from U.S. Federal Reserve Chair Jerome Powell raised hopes for additional monetary easing. The KOSPI jumped 2.68 percent to close at 3,567.28, while the secondary Kosdaq added 2 percent to 864.72. Semiconductor shares extended their rally, powering the broader market. Samsung Electronics surged 3.71 percent to a new high of 95,000 won ($66.83), and SK hynix climbed 2.31 percent to 421,000 won. Hanwha Ocean rebounded 1.94 percent to 105,100 won, recovering quickly from the setback following Chinese sanctions on its units. In China, the Shanghai Composite Index rose 1.2 percent to 3,912.21, even as shares of rare-earth producers such as China Northern Rare Earth Group slumped amid stalled U.S.–China trade talks. Japan’s Nikkei 225 snapped a multi-day losing streak, rising 1.76 percent to 47,672.67, while Taiwan’s TAIEX advanced 1.8 percent to 27,275.71. Asian markets found relief after Fed Chair Jerome Powell signaled an end to quantitative tightening, offsetting jitters over renewed U.S.–China tensions and reviving expectations of further rate cuts this year. 2025-10-15 17:57:58
  • Foreign investors turn heavy buyers of Korean stocks and bonds in September
    Foreign investors turn heavy buyers of Korean stocks and bonds in September SEOUL, October 15 (AJP) - Foreign investors became net buyers of more than US$9 billion worth of Korean stocks and bonds in September, marking a sharp turnaround from a $600 million net outflow in August and signaling a recovery in confidence toward the Korean capital market, the central bank said Wednesday. According to data from the Bank of Korea, net foreign inflows into Korean securities reached $9.12 billion last month — $4.34 billion in equities and $4.48 billion in bonds. Foreign investment in local stocks extended its fifth consecutive month of net inflows, with September's figure the largest since February 2024. The turnaround was even more pronounced in the debt market, where foreign investors injected nearly $5 billion, contrasting with an outflow of $770 million in August. The credit default swap (CDS) premium, a key gauge of sovereign credit risk, narrowed by 1 basis point from August, reflecting improved sentiment toward Korea’s credit standing. Borrowing conditions remained generally stable. The short-term foreign borrowing spread edged up 1 basis point from August, while the medium- to long-term spread climbed 9 basis points. The addition rate on foreign currencies, an indicator of funding costs for raising foreign-denominated capital, also remained steady. 2025-10-15 16:55:42
  • KOSPI loses early gains as Asian stocks retreat on trade war flare-up
    KOSPI loses early gains as Asian stocks retreat on trade war flare-up SEOUL, October 14 (AJP) - South Korea’s record-setting morning session turned into broad selling by the close, as investors across Asia recoiled from a new chapter in the U.S.–China trade conflict. The benchmark KOSPI slipped 0.63 percent to 3,561.81, after hitting an intraday record high of 3,637.45 earlier in the day. The Kosdaq also dropped 1.46 percent to 847.96. Samsung Electronics, which spearheaded the morning rally on record-breaking third-quarter results, fell 1.39 percent to 92,000 won as investors locked in profits. SK Hynix declined 0.72 percent to 412,000 won. Foreign investors turned cautious after China imposed sanctions on U.S. subsidiaries of Hanwha Ocean in response to Washington’s new shipping curbs. In Taiwan, the TAIEX, which had tracked the early chip rally, closed 0.48 percent lower at 26,793.15. Japan’s Nikkei 225 was the biggest regional loser, tumbling 2.58 percent to 46,847.32 amid political upheaval. The collapse of the 26-year coalition between the ruling Liberal Democratic Party and its partner Komeito clouded the outlook for Sanae Takaichi’s rise as Japan’s first female prime minister. 2025-10-14 17:53:04
  • From traditional to street, the K-food lineup rich for APEC summit
    From traditional to street, the K-food lineup rich for APEC summit SEOUL, October 14 (AJP) - It remains unclear whether the APEC summit in Gyeongju, South Korea, will stage a face-to-face meeting between the U.S. and Chinese leaders later this month, but organizers have ensured a rich and diverse lineup of Korean food and cuisine. Food industry leaders Nongshim, CJ Cheiljedang, and Kyochon F&B have joined household names like Samsung Electronics as official corporate sponsors of the event. They are joined by younger franchises such as Okdongsik and Young Dabang, showcasing a blend of traditional, fusion, and street-food experiences to global attendees. Nongshim, which commands nearly 50 percent of South Korea's ramyun market, will provide 10,000 packets of “Shin Ramyun” featuring characters from Netflix's hit animated series “K-pop Demon Hunters.” The noodle maker, which saw a major brand boost from the film’s global success, will also operate a booth where APEC visitors can enjoy instant noodles just like the characters in the animation. CJ Cheiljedang is set to feature a range of Korean staples including cupbap (rice cup), gim (seaweed) snacks, and tteokbokki (spicy rice cakes). The company’s global frozen-food brand “Bibigo,” already an official partner of the Los Angeles Lakers since 2021, will also be highlighted as part of the K-food showcase. Restaurant chains are taking varied approaches to promote their products. Kyochon F&B, best known for its fried-chicken franchise “Kyochon Chicken,” will operate food trucks at the venue to reinforce Korea’s reputation as the world’s fried-chicken capital. Newer brands such as Okdongsik, Young Dabang, and Buchang Bakery have been invited to offer a more diverse taste of Korean dining — spanning from traditional comfort dishes to trendy street food. Okdongsik, famed for its signature dwaeji gomtang (pork soup), was named one of New York City’s top 100 restaurants by The New York Times. Young Dabang, a snack-bar franchise serving modern variations of tteokbokki and pork cutlet, is also expanding abroad, with branches in the United States, Japan, and several Southeast Asian countries. Edward Lee, a Korean American chef known for his appearances on Netflix’s cooking competition “Culinary Class Wars,” will collaborate with chefs from Lotte Hotel to prepare the leaders’ welcome dinner on October 31. Food featured in Korean cultural exports like “K-pop Demon Hunters” and “Squid Game” continues to fuel the global appetite for Korean culture. Yet experts caution that sustaining the K-food boom will require a long-term strategy. “The continued growth of authentic Korean cuisine abroad will depend on effective localization, customization, and R&D,” said Seulki Lee, professor of Hotel and Tourism Management at Sejong University. “A fine balance between authenticity and versatility must be achieved to ensure Korean food retains its global appeal.” 2025-10-14 17:01:17