Lee Soon-jae, titan of Korean acting, dies at 91 SEOUL, November 25 (AJP) - Lee Soon-jae, one of South Korea’s most distinguished and enduring actors, died early Tuesday at the age of 91, his family confirmed. With a career spanning nearly seven decades, Lee was widely regarded as the country’s oldest active actor until health issues forced him to step back last year. Born in 1934 in Hoeryong in what is now North Korea, Lee moved to Seoul at age four. His early life coincided with Korea’s liberation from Japan and the outbreak of the Korean War, events he often recalled as formative to his worldview. Lee discovered acting while studying philosophy at Seoul National University. Inspired by Laurence Olivier’s Hamlet, he debuted in 1956 with the play “Beyond the Horizon.” In 1965, he joined TBC as a contracted actor, becoming a pillar of early Korean broadcasting. His 1991–92 drama “What Is Love?” reached a record-breaking 65 percent viewership, cementing his status as a household name. Lee’s portrayal of a stern, traditional father reflected the social values of the era and left an enduring imprint on Korean TV history. Even in his late 80s, Lee remained committed to the stage. His performance in “King Lear” — delivering more than 200 minutes of dialogue — drew critical acclaim for its depth and stamina. He continued acting until October last year, when he suspended activities due to health concerns. His final major accolade came in 2022 when he became the oldest recipient of the KBS Drama Grand Prize. Lee also briefly entered politics, serving as a lawmaker after being elected in 1992 with the then-ruling Democratic Liberal Party. He later dedicated himself to nurturing future actors, serving as a distinguished professor at Gachon University’s Department of Performing Arts. Throughout his long career, Lee was celebrated not only for his performances but for his deep devotion to craft. His passing marks the end of an era for Korean performing arts. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 07:35:38

Lee's approval rating edges up to 55.9% SEOUL, November 24 (AJP) - President Lee Jae Myung's approval rating has inched up to 55.9 percent, up 1.4 percentage points from the previous week, pollster Realmeter said on Monday. According to the nationwide poll of over 2,500 people aged 18 and older conducted from Nov. 17 to 21, some 40.5 percent of respondents disapproved of Lee's performance, down 0.7 percentage points. The uptick in approval was attributed to his recent diplomatic achievements including a US$150 billion memorandum of understanding (MOU) signed during his tour of the Middle East and South Africa, while worsening financial indicators such as the country's benchmark KOSPI falling below 3,900 points and a deteriorating won against the dollar may have influenced unfavorable views. In a separate survey of over 1,000 respondents last week, the ruling Democratic Party (DP) garnered 47.5 percent of support, up 0.8 percentage points from a week ago, while the main opposition People Power Party (PPP) suffered a further slide to 34.8 percent, down 0.6 percentage points. The minor Reform Party and the Rebuilding Korea Party earned 3.8 percent and 2.9 percent, respectively, followed by the left-wing Progressive Party at 1.1 percent. Both surveys were conducted via automated phone responses, with participation rates of 4.8 percent and 3.7 percent. More details are available on the National Election Commission's website. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 14:18:31

Turbine shuts down again at Shin Hanul nuclear reactor, causing safety concern SEOUL, November 24 (AJP) - Korea Hydro & Nuclear Power (KHNP) said on Monday that the turbine generator at Shin Hanul Unit 1, a 1.4 million-kilowatt reactor, shut down automatically while the plant was ramping up output. At around 6:11 p.m., Sunday, the company reported that an “exciter” device had failed, cutting off the supply of current to the generator’s electromagnet — a component crucial for power generation. The exciter shutdown forced the turbine to stop, even though the reactor continued operating. The plant is currently running at about 50 percent capacity, KHNP said. Officials at the headquarters have launched an investigation into the cause of the exciter failure and are preparing remedial measures. Shin Hanul Unit 1 recently came back online on Nov. 21 after a scheduled maintenance period that began on Aug. 25. The reactor had experienced a similar turbine shutdown in August of the previous year. A KHNP spokesperson emphasized that, while the issue caused a shutdown of the turbine, it did not directly implicate safety-critical systems, and steps are being taken to prevent recurrence. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 10:15:55

Sticky points still in place in final stretch of Korea–U.S. trade deal talks SEOUL, October 23 (AJP) - “It ain’t over till it’s over,” senior Seoul officials said as they wrapped up last-mile marathon talks in Washington over a trade agreement tied to South Korea’s $350 billion investment pledge in exchange for relief from a 25 percent U.S. import levy. After a two-hour meeting with U.S. Commerce Secretary Howard Lutnick, Kim Yong-beom, policy chief to President Lee Jae-myung, told reporters, “We discussed many remaining issues and made some progress. There are only a couple of issues left, but further discussion is needed.” He declined to call the talks the “final stage,” adding, “Negotiations aren’t over until they’re over,” hinting at lingering thorny issues. Kim’s cautious tone contrasted with the optimism he expressed earlier this week when he arrived in the U.S. with Industry Minister Kim Jung-kwan, who returned to Washington in less than a week for the same purpose. Asked whether another meeting with Lutnick was planned, Kim said, “It’s difficult to meet again in person. If further discussion is needed, it might be done virtually.” He maintained hope that the two sides could reach an agreement before U.S. President Donald Trump visits Korea for the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju on Oct. 31. “APEC is an important occasion for us,” he added. Seoul and Washington agreed last July on the headline figure of a $350 billion investment commitment, under which Korea would channel that amount into U.S. projects in exchange for a reduction of tariffs on Korean automobile imports — to 15 percent from 20 percent — and relief on other sector-specific duties. But the deal has stalled as Washington demands an up-front cash payment covering most of the pledged amount — a sum equivalent to nearly 80 percent of Korea’s foreign-exchange reserves and about 16 percent of its nominal GDP in 2024. Seoul is pushing for a ten-year installment plan, committing $20 billion per year with a 5 percent cash component, citing potential shocks to the economy and exchange rate. Washington, however, is pressing for a lump-sum structure similar to Japan’s arrangement, which largely followed U.S. conditions met during Trump's four-year term. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 07:50:32

Taiwan to surpass South Korea in per capita GDP in 2025: IMF SEOUL, October 20 (AJP) - South Korea is set to lose its long-held economic edge over Taiwan this year, according to new projections from the International Monetary Fund. The IMF expects South Korea’s per capita gross domestic product to fall to 37th place globally, while Taiwan’s rises to 35th, marking the first time in 22 years that Taiwan will surpass its East Asian rival. In its World Economic Outlook released on Oct. 15, the IMF estimated South Korea’s GDP per capita at $35,962 for 2025, down 0.8 percent from last year’s $36,239. The decline pushes South Korea down three spots among the world’s 197 economies. Taiwan's GDP per capita, by contrast, is expected to climb 11.1 percent from $34,060 last year to $37,827 this year, driven by a resilient technology sector and strong export performance. The increase would move Taiwan up to 35th place globally. The shift underscores a broader divergence between the two economies that have long been seen as industrial peers — both export-driven, high-tech nations that transformed rapidly in the latter half of the 20th century. But in recent years, Taiwan’s booming semiconductor industry and diversified export base have helped it outpace South Korea’s more uneven growth, which has been slowed by weak consumption and a sluggish property market. The IMF projects South Korea will reach a GDP per capita of $40,802 by 2028, hitting the $40,000 milestone a year earlier than previously forecast. Still, the nation’s global ranking is expected to slide further — to 38th next year, 40th in 2028, and 41st in 2029 — as other advanced economies grow faster. Taiwan’s trajectory, meanwhile, remains sharply upward. The IMF expects the island to surpass the $40,000 mark next year, reaching $41,586, and to rise to 31st place globally. By 2030, Taiwan’s per capita income is projected to exceed $50,000. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 10:13:41

Overdue credit card loans rising fast in South Korea SEOUL, October 20 (AJP) - South Koreans are falling behind on their credit card bills at a record pace, as higher interest rates and tighter bank lending drive more households to rely on card loans to make ends meet. According to data released by the office of Rep. Kang Min-kook of the main opposition People Power Party, citing the Financial Supervisory Service, credit card debt overdue for more than a month reached nearly 1.5 trillion won ($1.1 billion) as of the end of August — the highest level since records began. The total amount of overdue card loans — including cash advances and card-based personal loans — has more than doubled over the past four years. At the end of 2021, outstanding overdue card loans stood at 718 billion won. That figure rose to 860 billion won in 2022, 983 billion won in 2023, and 1.1 trillion won last year. By August this year, the total had surged to 1.5 trillion won. The delinquency rate — the share of overdue debt compared with total card loans — has climbed even more steeply. It rose from 1.9 percent at the end of 2021 to 2.2 percent in 2022, 2.4 percent in 2023 and 2024, and 3.3 percent as of this August, according to the data. Analysts say the trend reflects growing pressure on low- and middle-income borrowers, who have struggled with rising living costs and a cooling job market. Many have turned to card-based borrowing as commercial banks tighten access to traditional loans amid concerns about household debt levels. “With bank loans becoming harder to access, vulnerable borrowers are turning to card loans for funding,” Rep. Kang said in a press release. “This could pose a risk to the financial soundness of card companies, and financial authorities should provide guidance to manage bad debts and sales.” South Korea’s household debt, among the highest in the world relative to GDP, has long been viewed as a vulnerability for Asia’s fourth-largest economy. Economists warn that the recent surge in credit card delinquencies could signal rising financial distress among consumers — and add pressure on regulators. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 09:54:57

'Progress' made in tariff Talks with US, deal expected before APEC summit SEOUL, October 20 (AJP) - Expectations are growing for a possible breakthrough in tariff negotiations with the U.S. as "significant progress" appears to be made. Presidential policy chief Kim Yong-beom, who returned from Washington, D.C., on Sunday, said, "Significant progress was made in negotiations with the U.S., as most issues have been settled." Though some areas still require adjustments, he expressed optimism about reaching a deal to finalize trade talks before the upcoming Asia-Pacific Economic Cooperation (APEC) summit, which is scheduled to be held in the historic city of Gyeongju from Oct. 31 to Nov. 1. When asked how Seoul would fulfill its pledge to invest US$350 billion in the U.S., agreed in late July to lower reciprocal tariffs from 25 percent to 15 percent, Kim declined to comment on specific details. But he explained that the U.S. recognized the difficulties of making the investment in full and "upfront," as claimed by U.S. President Donald Trump, with both sides working to come up with mutually beneficial arrangements. Regarding currency swap deals as part of protective measures should a lump-sum cash payment be made, he said the U.S. fully understands the potential impact on the foreign exchange market. Finance Minister Koo Yun-cheol, who met with U.S. Treasury Secretary Scott Besant on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting in the U.S., also returned the same day but declined to comment on the ongoing tariff negotiations. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 09:40:48

Lee outlines phased approach to North Korea's denuclearization at UN SEOUL, September 24 (AJP) - President Lee Jae Myung outlined his vision for peace on the Korean Peninsula in a keynote speech at the UN General Assembly in New York on Tuesday. Speaking seventh, he pledged to end Cold War-era hostility and confrontations in the region and to promote global peace through his so-called "END initiative," which highlights exchange, normalization, and denuclearization as its key principles. "History tells us that exchange and cooperation are the quickest paths to peace. We will make these efforts step by step to achieve sustainable peace," he said. He also expressed his willingness to support North Korea in normalizing its standing on the global stage, while working to improve inter-Korean relations. Regarding North Korea's denuclearization, he said he will pursue a practical, phased approach, starting with halting, then reducing, and ultimately eliminating its nuclear weapons. Emphasizing the need to rebuild trust and mutual respect between the two Koreas, Lee added, "South Korea will not seek reunification by attempting to absorb the North or by engaging in any hostile actions." Lee concluded his speech by calling for multilateral collaboration to address global challenges, stressing the UN's core principles of cooperation and trust. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-24 09:21:37