Journalist
By Han Ji-yeon, Chung Hye-hoon
ellenshs@ajunews.com
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Sitcom at 70 and stage at 90, Korea's eternal actor Lee Soon-jae SEOUL, November 25 (AJP) - "I'm forever indebted to you," 90-year-old actor Lee Soon-jae told television viewers on Dec. 31 last year after becoming the oldest recipient of the KBS top acting award in 2024. Since his debut in 1957, he appeared in more than 100 TV dramas, embracing any role — comedy, historical epic, classical theater — so long as he could act. Lee, who passed away on Nov. 25 at age 91, was a “born actor” who never feared challenge and moved effortlessly across genres. From traditional historical dramas to sitcoms, films, and stage productions, he remained a model of passion for younger performers until his final days. Born in 1934 in Hoeryong, North Hamgyong Province, and raised in Seoul from age four, Lee discovered acting early. At Daejeon High School he staged plays with friends, and at Seoul National University he helped revive the theater club in 1956 alongside Shin Young-kyun, Lee Nak-hoon, and Hwang Eun-jin. That same year he made his stage debut in "Beyond the Horizon". The following year he appeared on Korea’s first television broadcaster, DBK, in the drama Beyond Horizon, introducing his face to the small screen. In his early career, as an exclusive actor for TBC, Lee performed in more than 100 dramas. Through the 1980s he remained prolific across television and film, though largely in supporting roles. His breakthrough came at age 57. In 1991 he portrayed Lee Byung-ho, a patriarchal print-shop owner, in the MBC drama "What Is Love." The show averaged a record 59.6 percent viewership, and the nation embraced “Daebal’s father.” Riding the drama’s popularity, Lee successfully ran for the National Assembly in 1992. Even during his political years, he continued acting in "Ambition", "Farewell", "Bathhouse Men", and other series. After leaving politics in 1996, he returned fully to the screen. In 1999 he played Yoo Ui-tae, the strict yet warm-hearted physician and mentor to Heo Jun, in the MBC historical drama "Heo Jun", marking a dramatic image shift and winning renewed acclaim. He went on to appear in a wide range of works — from historical blockbusters like Sangdo, Jang Hee-bin, Immortal Admiral Yi Sun-sin, and Lee San to contemporary dramas such as The Heungbo Family. Lee’s second golden era arrived with the 2006 MBC sitcom "High Kick!." Shedding his stern image, he played a cranky but harmless traditional-medicine doctor. A notorious scene where he is caught watching adult videos earned him the nickname “Yadong Soon-jae,” endearing him to the young generation. At 72, he won the MBC Entertainment Grand Prize for the role. Despite the grueling five-day-a-week shoot, he once said he worked harder after hearing that hospitalized patients found rare moments of laughter watching the show. In 2008 he moved audiences again as an oboe player battling dementia in "Beethoven Virus." In the 2011 film I Love You, he portrayed a prickly but tender elderly man whose love story left theaters in tears. He continued to show comedic chemistry in "High Kick Through the Roof (2008)", including a late-life romance with the late Kim Ja-ok and playful quarrels with on-screen son-in-law Jung Bo-suk. In 2013, Lee joined the cast of tvN’s travel variety show "Grandpas Over Flowers" alongside Shin Goo, Park Geun-hyung, and Baek Il-sub. His tireless energy — studying instead of sleeping on flights, shooting without complaint — earned him praise from young viewers as a “true adult.” He led the ensemble through the 2014, 2015 and 2018 seasons. In his later years, he returned frequently to his first love: the stage. Even in his eighties, he endured the physical and mental demands of live theater. In 2021, at age 87, he delivered a celebrated performance in "King Lear", performing barefoot with flowing white hair and reciting nearly 200 minutes of lines without falter, drawing critical acclaim. Last year, he appeared in "Waiting for Godot… Waiting," though health issues forced him to cancel some shows. He vowed to return “in healthy form,” but doctors recommended three months of rest, prompting concerns among the public. His lifetime of relentless work was rewarded late. In 2024, he won the KBS Drama Award for his role as a veteran actor who can hear a dog’s voice in Dog Sound, becoming the oldest-ever winner of the network’s top prize. “I always believed a chance would come someday, so I kept preparing,” he said tearfully in his acceptance speech. “Today I received this beautiful, precious award.” In 2025, he was named a Korea PD Award winner in the actor category, though worsening health prevented his attendance. Lee Soon-jae leaves behind a legacy unmatched in Korean performing arts — a career that spanned nearly seven decades, countless genres, and generations of audiences who grew up with his voice, his authority, his mischief, and above all, his devotion to the craft of acting. 2025-11-25 13:31:59 -
Korean consumer confidence most upbeat in eight years SEOUL, November 25 (AJP) - South Koreans turned markedly more upbeat about the economy in November, buoyed by the stock market’s record-setting rally, the settlement of a tariff deal with the United States, and stronger-than-expected third-quarter growth led by resilient exports. The Consumer Sentiment Index (CCSI) rose 2.6 points from October to 112.4, the highest since 113.9 in November 2017, the Bank of Korea said Tuesday. A reading above 100 signals optimism about current and future economic conditions. The strongest improvement came from future economic outlook, which jumped 8 points to 102. Current economic assessment and household-income expectations also gained, while views on current living conditions and household spending remained unchanged. The index measuring assessments of the economy compared with six months earlier stayed below the neutral 100 at 96, but the reading improved by five points from October and stands far above its long-term average of 72. Expectations for economic conditions six months ahead climbed eight points to 102, reflecting easing uncertainties after Korea finalized a trade agreement with the United States that had clouded export prospects to the world’s largest market. Job-market sentiment remained weak at 95, though improved from 91 a month earlier and well above the March trough of 72. Perceived inflation over the past year held steady at 2.9%, and expectations for inflation a year ahead were unchanged at 2.6%. Grocery prices—particularly agricultural and fishery products—were cited as the biggest inflation burden by 51% of respondents, followed by utility bills (36%) and fuel prices (30.5%). 2025-11-25 09:20:46 -
NPS pushed to front line of FX defense as KRW sinks to crisis levels SEOUL, November 24 (AJP) - South Korea’s fiscal and monetary authorities, constrained in their ability to slow the won’s steep decline, are turning to an unlikely player for relief: the National Pension Service (NPS), the country’s largest institutional investor and one of the biggest structural movers of the dollar–won rate. Working-level officials from the NPS met finance ministry counterparts at the Sejong Government Complex on Monday. In a press statement, the finance ministry said it has formed a joint "council" with the NPS, the Ministry of Health and Welfare that oversees the pension, and Bank of Korea to "monitor" the foreign exchange impact of the fund's overseas investment portfolio. The irony is that the fund is one of the biggest sellers of Korean currency as it finances a record expansion of its overseas portfolio—especially U.S. equities concentrated in the same big-tech and AI names now at the center of global bubble concerns. The dollar has strengthened more than 3 percent over the past month, nearing 1,480 won—a level touched only during extreme stress periods such as the 2009 global financial crisis or this April’s political turmoil. The won’s weakness has persisted even as foreign investors were record buyers of Korean shares last month, only to abruptly reverse course amid renewed fears of overvalued AI stocks in the U.S. Finance Minister Koo Yun-cheol, after meeting with the Bank of Korea governor and top financial regulators earlier this month, underscored the need to “improve structural imbalances” in FX supply and demand. The government has been consulting with major exporters and the NPS to help “smooth” excessive won depreciation. A giant investor—and a structural source of dollar demand Policymakers’ concern centers on the sheer offshore footprint of the NPS, one of the world’s largest institutional investors. As of end-August, the fund managed 1,322 trillion won, with 486.4 trillion won—36.8 percent—allocated to global equities, according to official data. Separate U.S. SEC filings show that U.S. holdings now form the sharpest edge of this exposure. In a Form 13F filed on Nov. 4, the NPS reported $128.8 billion in U.S. equities across 552 companies, up 11.2 percent from the previous quarter as both buying and valuations increased. At the top of its holdings sit Nvidia, Apple, Microsoft, Amazon, and Meta—America’s AI and cloud heavyweights. According to Fintel, the NPS holds roughly 49.6 million Nvidia shares, making it one of the world’s largest institutional shareholders. From the government’s perspective, the NPS is simultaneously a potential stabilizer in the FX market and a structural driver of dollar demand. Korean individuals separately hold $99.85 billion in overseas securities as of September. The NPS features prominently in recent FX-related verbal intervention, but its mission is fundamentally long-term: sustaining retirement payouts in a rapidly aging society. Its mid-term allocation plan calls for a continued increase in overseas and risk assets while trimming domestic bonds to improve returns. Each incremental shift into foreign stocks requires fresh dollar buying—a persistent downward force on the won that no one-off FX operation can meaningfully offset. This dynamic also explains why movements in Korea’s FX reserves remain modest despite recent volatility. Authorities, however, cannot exert too much pressure without inviting accusations of politicizing the nation’s last-resort retirement savings. Still, the combination of record overseas allocation and an AI-heavy portfolio is one of the most sensitive macro-financial issues facing policymakers. Analysts doubt the NPS will bend easily to government wishes. Details of Monday’s meeting remain sealed, but the market’s verdict was clear: the dollar gained an additional 3.9 won to close at 1,475.90. 2025-11-24 16:47:00 -
Trump Burger and Silla gold crown in Gyeongju APEC-themed travel package SEOUL, November 21 (AJP) - A “Trump” hamburger named after the U.S. president who enjoyed it during his visit to South Korea for the Asia Pacific Economic Cooperation (APEC) event — along with a chance to view authentic Silla dynasty crowns instead of the replica that pleased the VIPs — are among the highlights of a new tourism package launched to capitalize on APEC summit week in late October. Gyeongsangbuk-do Culture & Tourism Corporation (GCTO) will be offering a two-day “Gyeongju APEC Trail” tour through domestic travel agencies. The program reproduces the key sites, meals, and cultural stops experienced by world leaders and their spouses during the APEC Summit held in Gyeongju. The tour begins at Gyeongju Expo Park inside the Bomun Tourist Complex, where travelers can enter a full-scale reproduction of the APEC summit venue — the same setting where leaders from 21 economies gathered to negotiate agendas ranging from supply-chain resilience to digital governance. Visitors then move to the Hilton Gyeongju, where the “Trump Cheeseburger Set,” specially ordered by the U.S. president during summit week, will be served. Inside the hotel’s Wooyang Museum of Art, travelers can explore the exact venue where the joint Foreign and Trade Ministers’ Meeting was held. In the afternoon, the group visits Bulguksa Temple, which hosted the program for leaders’ spouses and daughters during the summit, offering a hands-on encounter with Silla Buddhist heritage. After dinner, travelers enjoy night-time attractions newly installed at Bomun Lake Square, including the APEC symbolic sculpture, immersive media art at Yukbuchon, and a lakefront 3D light show. The itinerary also includes premium Korean dishes featured during summit week — including the seafood pancake from Kolon Hotel that appeared on Xi Jinping’s dinner table for two consecutive nights. On day two, breakfast is served at Gyeongju Jungang Market, where Hong Kong Chief Executive John Lee and his wife famously praised the local “sundae gomtang” and “somerigukbap.” Travelers then tour major heritage sites, including Daereungwon, Cheomseongdae, and the National Museum of Gyeongju, where six Silla gold crowns — including one shown only as a replica during the APEC spouses’ program — are now on special display. The tour closes with a visit to Hwangnidan-gil that hosted K-Beauty Pavilion, to which U.S. White House spokesperson Karoline Leavitt visited immediately after the Korea–U.S. summit and posted the unpacking of her shopping of Korean beauty products. Souvenir recommendations include APEC’s official dinner liquor, Gyo-dong Beopju, and Hwangnam-ppang, to which Chinese President Xi showed liking. The package, priced in the 100,000-won (around $70) range per person, includes round-trip chartered bus service from the Seoul metropolitan area, one night of lodging, three meals, admission fees, a guide, and insurance. “By transforming APEC’s most memorable moments into a travel experience, we aim to elevate Gyeongju’s cultural brand value,” said Kim Nam-il, CEO of GCTO. The city has already seen a measurable boost. According to Hana Card data, foreign visitors spent 3.22 billion won in Gyeongju between Oct. 27 and Nov. 2 — more than triple last year’s level. Beauty-sector transactions surged more than fourfold, while hotel spending tripled. Even after the summit ended, foreign visitor spending remained nearly 50 percent higher than a year earlier, suggesting that the APEC spotlight is delivering a lasting tourism windfall. 2025-11-21 14:10:54 -
Samsung narrowly steals back No. 1 DRAM rank from SK hynix Q3- CFM SEOUL, November 20 (AJP) - South Korea's Samsung Electronics has narrowly reclaimed its No. 1 rank in global DRAM sales in the third quarter after yielding the position to its home rival SK hynix in the first half for the first time amid the surge in high-bandwidth memory (HBM) demand. The shift underscores rapidly strengthening DRAM prices due to frantic stockpiling of memory chips that power servers and a wide range of electronic devices, driven by fears of supply shortages as manufacturers prioritize output for AI servers, a latest market study showed. According to China Flash Market (CFM) data posted earlier this week, Samsung Electronics accounted for 34.8 percent of global DRAM sales in the third quarter, up 29.6 percent on quarter and edging SK hynix at 34.4 percent, whose quarterly gain slowed to 12.4 percent. Micron also logged a big of 27.1 percent, closely trailing in third place with a 22.4 percent share. The latest DRAM data mirrors a cut-throat market without the clear, decisive winner seen in past cycles, as AI reshapes the DRAM segment amid structural output shortages from hyperscale servers to laptops, intensified by growing demand for high-performance chips and sanctions on Chinese producers of legacy memory. The global DRAM market expanded 24.7 percent on quarter and 54 percent on year to $40.037 billion in the third quarter, while the NAND Flash market grew 16.8 percent to $18.422 billion. Combined, the semiconductor memory market reached a record $58.459 billion and is expected to continue its record-setting streak in the fourth quarter, the Chinese market watcher said. Both DRAM average selling prices and bit shipments increased in the past quarter, lifting quarterly revenues for all suppliers. Samsung returned to the No. 1 position, driven by an 85 percent quarter-on-quarter surge in HBM bit shipments and strong pricing in conventional DRAM, pushing its total DRAM revenue to a historic high. Chinese memory suppliers also accelerated capacity to offset the supply gap left by some competitors exiting older product lines, expanding their market presence amid rising prices. Samsung Electronics, which also produces smartphones, comfortably retained the top spot in the sales of NAND Flash powering mobile devices with a 29.1 percent share, followed by SK hynix at 19.2 percent and Japan’s Kioxia at 16.5 percent. Global NAND Flash revenue reached $18.422 billion in the third quarter, rising 16.8 percent on quarter but declining 3.1 percent on year. Although bit shipments continued to increase, rapid inventory reductions and migration to more advanced nodes have constrained output for some suppliers heading into the final quarter, the report said. 2025-11-20 10:07:19 -
Seoul finally puts Lone Star saga behind after ICSID declares complete win SEOUL, November 19 (AJP) -South Korea has finally put to rest its years-long investment dispute with U.S. private equity firm Lone Star, after the International Centre for Settlement of Investment Disputes (ICSID) overturned its earlier ruling that ordered Seoul to pay $216.5 million in compensation plus interest over the fund’s 2012 sale of a Korean bank. “The government's compensation liability — about 400 billion won at today’s exchange rate — has been retroactively cancelled,” Prime Minister Kim Min-seok said late Tuesday, announcing the final ruling by the Washington-based tribunal. Instead, Lone Star has been ordered to cover South Korea's legal expenses of 7.3 billion won ($5 million) within 30 days. The nullification marks a rare reversal by ICSID: only eight such cases have been overturned out of 503 settlements since the tribunal’s establishment in 1972. Seoul appealed the arbitral court’s 2022 decision, which had partially sided with Lone Star’s claim that it incurred losses of $4.67 billion due to alleged government interference in the sale of Korea Exchange Bank (KEB). The presidential office welcomed the ruling as a “correction” of the earlier interpretation. Lone Star purchased KEB in 2003 for 1.38 trillion won during the banking failures that followed South Korea’s Asian financial crisis and 1998 International Monetary Fund bailout. After multiple failed attempts to offload the lender, the fund sold KEB to Hana Financial Group in 2012 for 3.92 trillion won. The two sides have been locked in legal battles ever since, with Lone Star alleging that Seoul’s heavy involvement in the sale process depressed the bank’s value. 2025-11-19 07:25:39 -
Korean institutions primary driver of KOSPI gain and reap big from their long bet SEOUL, November 18 (AJP) - South Korean institutional investors have emerged as the primary force behind the KOSPI’s world-leading rally this year, reaping sizable gains from their long-position strategy fueled largely through exchange-traded funds (ETFs). Domestic financial institutions made aggressive bets on Korean equities via ETFs, significantly boosting their bottom line. According to the Korea Exchange, foreigners have been net sellers of 5.86 trillion won (around $4 billion) and retail investors 13.19 trillion won so far this year, taking profits after the record-setting rally. Despite this offloading, the KOSPI has maintained one of the strongest performances among major global indices — rising more than 60 percent — thanks to steady long positioning by local institutions, predominantly financial investment firms. Institutions purchased a net 8.61 trillion won this year, with financial investment accounts alone buying 19.09 trillion won. Financial funds maintained a net-buying stance for most of the year except January. Financial investment accounts refer to brokerage-run proprietary trading divisions that execute arbitrage, hedging, and market-making strategies. Their yearly positions typically net out to near zero, but the surge of ETF inflows has shifted that pattern. When money flows into ETFs, brokers are required to buy the underlying stocks, and these purchases appear in market-making accounts — contributing to consistent net buying by financial investment firms. Analysts note this ETF-driven structure is now offsetting the impact of foreign selling. Even with foreigners unloading around 9 trillion won this month, passive ETF inflows have kept the KOSPI’s upward momentum intact. Passive funds do not shift positions abruptly, reducing the risk of sharp corrections. “The influence of financial investments and ETF flows is becoming more significant than foreign investors in driving the domestic stock market,” said Heo Jae-hwan of Eugene Investment & Securities. “This structure helps limit the downside even if the pace of gains slows.” The long-term bet has been especially lucrative for insurers, who account for a large share of Korea’s typically-long institutional capital. According to the Financial Supervisory Service's electronic disclosure system, Hanwha Life Insurance posted accumulated net profit of 768.9 billion won as of September, up 5.8 percent from a year earlier. Its investment income more than doubled, jumping from 195.6 billion won to 582.2 billion won. Samsung Life’s net profit rose 3 percent to 2.232 trillion won in the third quarter, despite a 6.7-percent drop in insurance profit, as investment income expanded 9 percent to 1.38 trillion won. Kyobo Life also reported a 1.2-percent rise in net profit to 904.1 billion won, driven by an almost 50-percent surge in investment returns. Shinhan Life logged the strongest growth among insurers, with net profit up 10 percent to 514.5 billion won as investment income more than doubled to 128.6 billion won. 2025-11-18 11:00:58 -
Chip sales to the U.S. and Nvidia take up 70% and 27% of SK hynix revenue as of Sept SEOUL, November 17 (AJP) -SK hynix sold 45.18 trillion won ($31 billion) worth of memory chips to the United States as of September this year, up 65 percent from the seven-month period of last year and taking up 70 percent of the South Korean chipmaker's revenue as of the third quarter. According to the full third-quarter disclosure, the chipmaker owed 17.35 trillion won in revenue to a single buyer as of September, more than doubling from 6.1 trillion won in the same period a year ago and accounting for about 27 percent of the company's 64.32 trillion won in accumulated sales for 2025. SK hynix has an exclusive contract with Nvidia for high-bandwidth memory (HBM)3E and will be rolling out HBM4 next year. The DRAM maker dominates global sales of HBM that powers AI chips. SK hynix accounted for 39 percent of the global DRAM market and 22 percent of NAND flash memory market as of June. Shares of SK hynix soared 7 percent to 599,500 won as of 2:20 p.m. ahead of Nvidia's earnings release. 2025-11-17 14:29:01 -
Korean and Japanese businesses to hold forum on bilateral FTA and economic bloc SEOUL, November 11 (AJP) - South Korean and Japanese business leaders, academics and media professionals will gather next week in Seoul to discuss how Asia’s second- and fourth-largest economies can align to build a tech-driven economic bloc and better navigate global uncertainties. The Korea-Japan Business Forum, co-hosted by Aju Media Group (AJP, ABC, Aju Business Daily) and Japan’s NNA, will take place on Nov. 19 at the Seoul Foreign Correspondents’ Club. Participants will explore the shifting global order and the challenges posed by a second Donald Trump presidency, as well as opportunities for deeper economic cooperation between the two neighbors. The event comes as Korea Chamber of Commerce and Industry Chairman and SK Group leader Chey Tae-won prepares to outline a Korea-Japan economic and AI partnership in Tokyo — a vision he has been promoting alongside the idea of a bilateral free trade agreement to create an economic bloc rivaling the U.S., European Union and China. 2025-11-11 14:11:36 -
K-pop nears "golden moment" by scoring big on Grammy nominations SEOUL, November 08 (AJP) -K-pop is approaching a “golden moment” on the global stage as a wave of Korean female artists secured nominations in top categories for the 68th Annual Grammy Awards. “APT.,” BLACKPINK member Rose’s collaboration with Bruno Mars, and “Golden,” an original soundtrack piece from Netflix’s blockbuster anime KPop Demon Hunters, were both shortlisted for major honors including Song of the Year and Best Pop Duo/Group Performance. The Recording Academy announced the 2026 nominees across 95 categories on Thursday ahead of the Feb. 1 ceremony at Crypto.com Arena in Los Angeles. Rose earned multiple nods, with “APT.” shortlisted for Song of the Year and Record of the Year — two of the Grammys’ prestigious “Big Six” general field categories — in addition to Best Pop Duo/Group Performance. Golden" from "Kpop Demon Hunters" was nominated for the Song of the Year, Best Pop Duo/Group Performance, Best Song Written for Visual Media and Best Remixed Recording. The film was also nominated for Best Compilation Soundtrack for Visual Media. International girl group Katseye under Hybe, the label behind K-pop superband BTS -- was nominated for the Best New Artist and the Best Pop Duo/Group Performance. It marks the first Grammy nominations for K-pop act since BTS received a nomination with "My Universe," a collaboration single with global pop icon Coldplay, in 2023. If any of them take home a Golden Gramophone in February, it would be the first for a Korean artist. Rose's "APT”, a track from her first full-length album, "rosie” dominated major music charts in South Korea and abroad after its release for its addictive hook rhythm and playful twist on Korean’s drinking game. In September, Rose won Song of the Year at the MTV Video Music Awards in the United States for "APT." "Golden" is performed by Korean American artists Ejae, Audrey Nuna and Rei Ami as the singing voices behind fictional girl group Huntr/x. It achieved a milestone for K-pop, topping both the U.S. Billboard Hot 100 and the British Official Singles Chart Top 100. Additionally, 2025 Tony-awarded Korean musical and Broadway hit "Maybe Happy Ending" was nominated for Best Musical Theater Album. Final-round voting to select the winners will run from Dec. 12 through Jan. 5. 2025-11-08 11:40:28