Journalist

Seo Hye Seung
  • Koreas Q3 GDP adds stronger than expected 1.2% on quarter, sentiment weakens
    Korea's Q3 GDP adds stronger than expected 1.2% on quarter, sentiment weakens ] Seoul, October 28 (AJP) -South Korea’s economy grew faster than expected in the third quarter, expanding 1.2 percent on quarter on the back of a rebound in capital investment and a modest recovery in consumer spending, according to preliminary data from the Bank of Korea on Tuesday. The stronger-than-expected growth — up from 0.7 percent in the second quarter and following a 0.2 percent contraction in the first — was largely driven by renewed capital spending in semiconductors and shipbuilding, alongside higher household consumption supported by two rounds of government stimulus vouchers. On year-on-year basis, GDP grew 1.7 percent, compared with 0.6 percent in the second quarter and zero growth in the first, keeping the country on track to meet the central bank's 0.9 percent annual growth target for 2025. Consumer spending rose 1.3 percent, accelerating from a 0.5 percent gain in the previous quarter, while capital investment jumped 2.4 percent, reversing from contractions of 2.1 percent and 0.4 percent in the second and first quarters, respectively. Exports increased 1.5 percent, slowing from a 4.5 percent gain in the second quarter, reflecting how record outbound shipments were concentrated in chips while other items faced headwinds from renewed U.S. tariff measures. The better-than-expected GDP headline number was broadly ignored by the financial markets as they looked forward. The KOSPI retreated 1 percent in early Tuesday session as institutions took profit after a near 10-percent surge from an almost uninterrupted two-week rally. The Korean won slipped 1.4 versus the U.S. dollar to 1,434.9. The fourth-quarter outlook remains jittery as concerns over housing market and trade uncertainties weighed over consumer and business confidence. The Composite Consumer Sentiment Index for October edged down 0.3 points to 109.8, signaling softer optimism as worries mount over high home prices and fragile trade conditions, according to BOK's separate release on Tuesday. While most sub-indices stayed stable — current living conditions at 96, living-conditions outlook at 100, household income outlook at 102, and spending outlook at 110 — the future economic outlook fell three points to 94. “The prolonged South Korea–U.S. trade negotiations and renewed U.S.–China tensions have dampened overall sentiment,” said Lee Hye-young, head of the Bank’s economic sentiment survey team. The housing price outlook index was up 10 points to 122, the highest since October 2021, amid steep apartment gains in the Seoul metropolitan area. The interest-rate outlook rose two points to 95, reflecting concerns about exchange-rate volatility and real-estate inflation. Expected inflation for the next year ticked up 0.1 percentage point to 2.6 percent, while perceived inflation over the past year remained unchanged at 3.0 percent. Corporate sentiment also remained downbeat. The Business Sentiment Index for November, released by the Federation of Korean Industries, came in at 94.8, marking the 44th consecutive month below the neutral 100 threshold since April 2022. Manufacturing sentiment at 96.8 stayed flat, while non-manufacturing at 92.8 fell three points, pulling down the overall index. Within manufacturing, general machinery and equipment at 120.0 and textiles and apparel at 107.1 showed upbeat expectations, while food and beverages and automobiles were neutral at 100. Sectors such as pharmaceuticals projected further declines. Among service sectors, information and communications at 112.5, professional services at 106.7, and utilities at 105.3 maintained positive outlooks, but transportation and warehousing at 80.8 dragged overall sentiment lower. “Increased foreign exchange volatility and global supply chain instability are aggravating business difficulties,” said Lee Sang-ho, head of the FKI’s economic and industrial division. Regardless of the relief in the third quarter, Korea is expected to end the year at its weakest growth since the pandemic outbreak year and perform worst among key Asian players. 2025-10-28 08:40:33
  • Trump to hold back-to-back summits with Korea, China, Japan during APEC week
    Trump to hold back-to-back summits with Korea, China, Japan during APEC week SEOUL, October 24 (AJP) -U.S. President Donald Trump will embark on a week-long Asian tour next week, making stops in Malaysia, Japan, South Korea, and China for a series of summit talks with regional leaders coinciding with the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, the White House confirmed Thursday. White House Press Secretary Karoline Leavitt said Trump’s first stop will be Malaysia, where he will meet Prime Minister Anwar Ibrahim on Sunday and attend a working dinner of Association of Southeast Asian Nations (ASEAN) leaders. He will then travel to Japan on for his first meeting with new Japanese Prime Minister Sanae Takaichi Tuesday before heading to South Korea’s southern port city of Busan on Wednesday for a two-day stay as the host country prepares for the APEC forum. Trump is scheduled to hold bilateral meetings with President Lee Jae Myung Wednesday and Chinese President Xi Jinping before he departs for home on Thursday, Leavitt said. In Gyeongju, the U.S. president is also expected to deliver a keynote address at the APEC CEO luncheon and attend the APEC leaders’ working dinner, although he will not be present for the official APEC summit sessions set for Oct. 31–Nov. 1. Trump’s trip comes as Washington and its Asian counterparts grapple with trade frictions — including negotiations to finalize South Korea’s $350 billion investment package in exchange for U.S. tariff relief, and ongoing tit-for-tat measures between the United States and China. 2025-10-24 07:44:31
  • K-pop Demon Hunters take down U.S. Billboard charts and TV shows
    K-pop Demon Hunters take down U.S. Billboard charts and TV shows SEOUL, October 09 (AJP) - The fictional K-pop idol group remains unstoppable in its reign over global music charts as Netflix’s animated sensation K-pop Demon Hunters extends its historic run on the U.S. Billboard rankings — now bolstered by viral television performances. According to Billboard on Monday (local time), the film’s original soundtrack (OST) reclaimed the top spot on both the Hot 100 singles chart and the Billboard 200 albums chart, marking its second double-crown achievement within a month. Eight tracks from the album simultaneously appeared on this week’s Hot 100. The lead single “Golden” by the virtual girl group HUNTR/X held No. 1 for the seventh consecutive week, and eighth overall, on the Hot 100. Their onscreen rivals Saja Boys also landed in the Top 10 with “Your Idol” at No. 7 and “Soda Pop” at No. 10. Other standout tracks — “How It’s Done” (No. 17), “Takedown” (No. 30), and “Free” (No. 31) — continued to dominate streaming charts. The K-pop Demon Hunters soundtrack has now stayed within the Billboard 200’s Top 10 for 15 straight weeks since debuting at No. 8. Billboard said the ranking reflects a mix of traditional album sales, streaming-equivalent albums (SEA), and track-equivalent albums (TEA). Adding to its cultural momentum, the trio of real-life artists behind HUNTR/X — EJAE, Audrey Nuna, and Rei Ami — made their television debut on NBC’s The Tonight Show Starring Jimmy Fallon last week, performing “Golden” in a dazzling blend of animated visuals and live choreography. The performance went viral within hours, topping YouTube’s trending music chart. Earlier this month, Saturday Night Live also featured a comedy sketch inspired by the film, in which segments of “Golden” and “Takedown” were performed live — signaling the franchise’s crossover from animation into real-world pop culture. Released earlier this year, K-pop Demon Hunters follows a K-pop girl group that battles evil spirits through music. With high-energy choreography, cinematic visuals, and distinctly Korean motifs — including a tiger mascot named Duffy and a gat-wearing magpie — the film became Netflix’s most-watched original animation, surpassing 300 million views worldwide. Cited as the most successful K-pop–inspired project to date, critics say the phenomenon redefines the boundaries between pop fandom, digital storytelling, and global music marketing — proving the enduring, universal appeal of Korea’s creative ecosystem. 2025-10-09 10:00:47
  • Suicide Becomes Leading Cause of Death for Koreans from Teens to 40s
    Suicide Becomes Leading Cause of Death for Koreans from Teens to 40s SEOUL, September 25 (AJP) -Suicide has become the leading cause of death among South Koreans from their teens through their 40s, with self-inflicted deaths overtaking cancer among people in their 40s for the first time since records began in 1983, according to a government report released Wednesday. The Statistics Korea data showed suicides accounted for 26.0 percent of deaths among those in their 40s in 2024, surpassing cancer at 24.5 percent. The total number of suicide deaths reached 14,872 last year, the highest since 2011 and up 6.4 percent from a year earlier. The suicide rate rose to 29.1 per 100,000 people — also the highest since 2011. Men were more than twice as likely to take their own lives as women, with rates of 41.8 versus 16.6 per 100,000. South Korea’s suicide rate stands out sharply on the global stage, with an OECD-standardized rate of 26.2 per 100,000 — more than double the OECD average of 10.8. Suicides among younger groups also climbed. Among teenagers, suicides accounted for 48.2 percent of all deaths, up from 46.1 percent a year earlier. In the 30s age group, the share rose to 44.4 percent from 40.2 percent. Overall deaths in Korea increased 1.7 percent last year to 358,569, reversing a pandemic-era decline. The daily average was 980 deaths. More than half (54.1 percent) were aged 80 or older, reflecting the country’s fast-aging demographics. Cancer remained the top cause of death overall, responsible for nearly one in four fatalities (24.8 percent). The cancer mortality rate stood at 174.3 per 100,000, led by lung cancer (38.0), liver cancer (20.4), colorectal cancer (19.0), pancreatic cancer (16.0), and stomach cancer (14.1). Deaths from prostate cancer (+9.7 percent), esophageal cancer (+9.0 percent), and pancreatic cancer (+6.7 percent) rose sharply year-on-year. 2025-09-25 15:31:12
  • Seoul holds off US trade deal despite Japans tariff edge
    Seoul holds off US trade deal despite Japan's tariff edge SEOUL, September 16 (AJP) - South Korea is holding out in protracted trade negotiations with the United States and resisting pressure to sign a deal quickly even as Washington grants Japan a softer tariff regime that could erode Korean competitiveness. According to the Federal Register, the U.S. Commerce Department confirmed a preferential 15 percent tariff rate on Japanese automobiles and auto parts starting Tuesday, a significant discount from the 27.5 percent rate applied to most foreign-made cars under President Donald Trump’s protectionist trade agenda. The lower duty was part of a July agreement under which Tokyo pledged $550 billion in U.S. investments. Seoul reached a similar framework accord with Washington in July that included a $350 billion Korean investment pledge, but its signing has been delayed as negotiators wrangle over execution details. Trade Minister Yeo Han-koo, arriving in Washington this week for talks with U.S. Trade Representative Jamieson Greer, stressed the complexity of the negotiations, saying, “The devil is in the details. We are having intense discussions on the specifics,” while adding that Seoul would not be swayed by “every twist and turn” in the talks. At stake is how Korea will deliver its $350 billion commitment. Seoul prefers to minimize direct equity stakes, offering guarantees instead, while U.S. officials are pressing for a deal closer to Japan’s structure—one that allows Washington to select and oversee investment projects, with profits shared between the two countries. The debate has been further complicated by a high-profile immigration raid at the construction site of a Korean joint-venture battery plant in Georgia, which raised tensions over labor and regulatory issues. Kim Yong-beom, chief presidential secretary for policy, underscored the risks of a rushed deal, warning that implementing the $350 billion package “has implications for our entire economy. We cannot compromise our long-term stability just to narrow a short-term tariff gap in autos.” Industry Minister Kim Jung-kwan returned from Washington last week without a breakthrough after talks with Commerce Secretary Howard Lutnick, highlighting the deadlock. Whether Yeo’s visit will provide a turning point remains uncertain, as Korean automakers uneasily watch their Japanese rivals gain an immediate edge in the U.S. market. 2025-09-16 13:26:43