Salaried workers to get fewer public holidays next year SEOUL, June 30 (AJP) - Salaried workers or those with a five-day workweek will have 118 days off next year including weekends, one day fewer than this year, the Korea Aerospace Administration said Monday. There will be 52 Sundays and 20 national holidays including Lunar New Year's Day and other make-up holidays. Three national holidays - Memorial Day, Liberation Day, and National Foundation Day - fall on a Saturday while some others such as March 1 Independence Movement Day and Buddha's Birthday will fall on a Sunday and be substituted with a day off the following Monday. The longest holiday is the Lunar New Year break that lasts five days in mid-February, followed by Chuseok or Korean Thanksgiving which will be four days long in September. Several holidays falling on weekends mean there will be fewer days off next year, as make-up holidays will not be granted for some. 2025-06-30 14:53:58

'Squid Game' Season 3 spurs retail frenzy in South Korea SEOUL, June 30 (AJP) - As Squid Game returns to screens for its third season, South Korea’s retail sector is turning the Netflix juggernaut into a merchandising powerhouse, deploying immersive pop-ups, collectible goods, and brand collaborations to capture the momentum of the global hit. From convenience store chains to luxury department stores, businesses are rushing to stake their claim in what has become one of the year’s most aggressively commercialized entertainment franchises. GS25, a major Korean convenience store operator, has partnered with Netflix to release a series of exclusive products tied to the new season. The lineup includes a lenticular T-Money transit card featuring the show’s returning mascot Younghee and newcomer Cheolsu, a jump rope-shaped jelly candy nearly two meters long, and chewy dalgona cookies that pay homage to the viral “dalgona challenge” from Season 1. The products are on display at Netflix’s official Squid Game pop-up at Gwanghwamun Plaza, which runs through July 6. According to GS Retail, its various collaborations with Netflix have sold more than 30 million items to date, including 6.3 million Squid Game-branded products. The franchise alone has generated more than 12 billion won, or about $8.6 million, in revenue. “We aim to go beyond the boundaries of a traditional convenience store and position ourselves as a cultural platform through collaborations with world-renowned Korean content,” said Lee Jeong-pyo, head of marketing at GS Retail. At the high end of the retail spectrum, Shinsegae — South Korea’s premier department store group — has launched its own multi-city pop-up initiative as the only official Korean merchandising partner for Squid Game Season 3. The first leg of the pop-up spans Shinsegae’s flagship Gangnam store and its Centum City location in Busan, where visitors are greeted by life-sized pink guards, mascot statues, and experiential zones designed to attract crowds. The displays will run through July 10 before relocating to Daegu and Seoul’s Times Square Mall from July 18 to 31. The department store’s retail program includes over 200 officially licensed items, ranging from apparel and lifestyle accessories to reimagined Korean game kits. Participating brands include J.Lindeberg, Odd Sox, CAPL, and Breezefi. Purchases made with Shinsegae credit cards qualify for additional discounts, reinforcing the commercial pull of the collaboration. The retail push underscores a broader evolution of Squid Game — from a dystopian drama to a full-fledged global brand platform. With immersive marketing, collectible merchandise, and high-profile partnerships, the show’s off-screen presence is now nearly as elaborate as its on-screen world. 2025-06-30 14:27:03

POSCO to launch lithium extraction project in US SEOUL, June 30 (AJP) - POSCO Holdings said on Monday that it plans to produce lithium in the United States for the first time, positioning itself at the forefront of efforts to localize battery material supply chains in North America. In a memorandum of understanding signed with Australia’s Anson Resources, POSCO will build and operate a demonstration plant in Green River City, Utah, deploying its proprietary direct lithium extraction (DLE) technology. The agreement marks the first instance of a Korean company attempting to extract the key battery metal on U.S. soil. Under the terms of the partnership, Anson will provide lithium-rich brine feedstock and land access at its concession site, while POSCO will test the commercial feasibility of its DLE technology, which the company has been developing since 2016. The facility, expected to break ground next year, is designed to validate POSCO’s method for recovering lithium from low-concentration brine — an approach the company says could unlock previously inaccessible reserves and help diversify global supply. Lithium, a critical component in electric vehicle batteries and energy storage systems, is currently sourced largely from salt flats in South America and hard rock mines in Australia. POSCO estimates that as much as 87 percent of the world’s lithium reserves are found in salt lake brines, but conventional extraction methods rely on slow, land-intensive evaporation processes ill-suited for regions like the United States. POSCO’s technology, by contrast, offers a more compact and potentially faster method of extracting lithium from brines, making it an attractive alternative for resource development in North America, where environmental and regulatory hurdles can hinder large-scale evaporation projects. The initiative also comes as the Trump administration places renewed emphasis on domestic sourcing of critical minerals. Trump has imposed tariffs on a range of imports, including steel, POSCO’s flagship business, fueling interest among Korean manufacturers in U.S.-based production. POSCO currently operates lithium operations in Argentina with an annual capacity of 25,000 tons and a 43,000-ton facility in Yulchon, South Korea, that processes spodumene ore. Combined, these sites supply enough lithium hydroxide to power roughly 1.6 million electric vehicles per year. 2025-06-30 14:19:53

Technocrat-turned-executive to guide Korea's energy policy SEOUL, June 30 (AJP) - In a move signaling South Korea’s deepening commitment to pragmatic industrial policy, President Lee Jae-myung on Sunday nominated Kim Jung-kwan, a technocrat-turned-corporate strategist, as the next Minister of Trade, Industry and Energy. The choice of Kim, currently president of Doosan Enerbility, places a seasoned public servant with cross-sector experience at the helm of a ministry central to Korea’s energy transition and industrial competitiveness. Born in 1968 in the southwestern county of Jangseong, Kim's path reflects South Korea’s archetypal elite technocrat. He graduated from Seoul National University with a degree in economics before earning a doctorate in the same field from the University of Missouri in 2002. After passing the nation’s civil service exam in 1993, he embarked on a public career shaped by fiscal planning and economic strategy. Over nearly two decades in government, Kim rotated through pivotal roles at what is now the Ministry of Strategy and Finance. He worked on service-sector policy, government bond markets, and long-term economic planning, steadily gaining a reputation as a behind-the-scenes thinker who bridged detail with big-picture policy. He also served abroad, including a stint at the International Bank for Reconstruction and Development, where he focused on concessional finance for developing countries. Back home, he held key posts at the Bank of Korea, steering conversations on capital markets and global macroeconomics. But it was his pivot to the private sector in late 2018 that distinguished him from many of his technocratic peers. Joining the Doosan Group — one of South Korea’s leading conglomerates— he became a high-ranking strategist and later moved to Doosan Enerbility, a core player in the country’s push into next-generation nuclear and renewable energy. There, he oversaw global marketing efforts and worked directly with foreign governments to tailor energy solutions to local policy environments — an approach his colleagues said combined government savvy with business pragmatism. In announcing his nomination as the trade minister, Presidential Chief of Staff Kang Hoon-sik described Kim as “a practical talent” uniquely positioned to translate policy vision into execution. “He understands both the intent behind government decisions and the realities industries face,” Kang said during a press briefing. Kim’s nomination comes as South Korea seeks to recalibrate its energy strategy amid intensifying global competition in advanced manufacturing and growing urgency around decarbonization. The country has pledged to expand its nuclear energy capacity while investing in hydrogen and wind power. Analysts say Kim’s appointment signals a focus on technocratic continuity and market-aligned policymaking — a blend that may help the Lee administration navigate a complex industrial future. 2025-06-30 11:28:23

South Korean pair claims maiden LPGA victory at Dow Championship in Michigan SEOUL, June 30 (AJP) - Golfers Im Jin-hee and Lee So-mi secured their maiden LPGA title by winning the Dow Championship in the U.S. on Sunday. In the fourth and final round of the championship in Midland, Michigan, the South Korean pair finished at 20-under 260, leading to a playoff in which they birdied the first hole to beat the American team of Megan Khang and Lexi Thompson. Another South Korean team, Park Sung-hyun and Yoon Ina, tied for fourth at 11-under. With Sunday's victory, Im and Lee, both in their second year on the LPGA Tour, became the first South Koreans to win the championship, which was first held in 2019 as a unique four-day tournament where players team up in pairs to compete with varied formats. Their feat also brought South Korea's tally of LPGA victories this season to four, after Kim A-lim, who captured the season opener by winning the Hilton Grand Vacations Tournament of Champions in Florida in February; Kim Hyo-joo, who won the Ford Championship in Arizona in April; and Ryu Hae-ran, who claimed the Black Desert Championship in Utah the following month. Im and Lee each took home a winning purse of $399,510. 2025-06-30 11:19:10

Regulators target Aekyung, SK Chemicals over humidifier disinfectant scandal SEOUL, June 30 (AJP) - South Korea’s antitrust regulator has launched enforcement proceedings against Aekyung Industrial and SK Chemicals after the two companies failed to comply with orders to publicly acknowledge their responsibility in one of the country’s deadliest consumer product scandals. The Fair Trade Commission (KFTC) has issued examination reports recommending prosecution for both firms, according to industry sources. In 2018, the commission imposed fines totaling 161 million won (approximately $118,000) and ordered the companies to publish statements disclosing their legal violations in connection with a toxic humidifier disinfectant that has been linked to the deaths of more than 1,740 people and serious lung injuries in nearly 6,000 others. Both companies challenged the ruling through administrative litigation. But the Supreme Court ultimately upheld the sanctions — against Aekyung in 2023 and SK Chemicals in 2024 — making the orders legally binding. Despite this, the companies failed to carry out the required public disclosures within the 30-day period mandated by fair trade regulations, according to the KFTC. The regulator is expected to hold hearings in the coming weeks to consider further penalties. The humidifier disinfectant crisis, which erupted over a decade ago, remains one of South Korea’s gravest public health disasters. The chemicals, used by millions of households, proved especially harmful to vulnerable groups such as pregnant women and young children. Aekyung and SK Chemicals were found to have manufactured and distributed the disinfectants without properly assessing the health risks, according to court rulings and government investigations. 2025-06-30 10:59:20

N. Korean leader Russian culture minister, pushes for stronger cultural ties SEOUL, June 30 (AJP) - North Korean leader Kim Jong-un met with Russian Culture Minister Olga Lyubimova in Pyongyang on Sunday, highlighting growing cultural cooperation between the two countries. The visit marked one year since the signing of the North Korea-Russia Treaty on Comprehensive Strategic Partnership, which took place during Russian President Vladimir Putin's visit to Pyongyang in June last year. The meeting was held at the headquarters of the Workers' Party of Korea and was attended by Russian Ambassador Aleksandr Matsegora. According to Pyongyang's state media Korean Central News Agency (KCNA), the conversation was friendly and warm throughout. Kim described the 2023 treaty as a "substantial contribution to the co-prosperity, development, and promotion of the well-being" of both nations. He emphasized that while all areas of cooperation are important, cultural and artistic exchange plays a vital role in "strengthening the foundation of the public mindset" and in deepening "friendship, mutual understanding, and shared sentiment" between the peoples of the two countries. "To that end, we need to expand our cultural exchange and learn more about each other's traditions," he said. Lyubimova expressed her appreciation for Kim's attention to the Russian delegation's visit. She said it was a meaningful time to be in Pyongyang, "when the strength and resilience of the DPRK-Russia friendship have become even more evident," and cultural cooperation had reached "the highest level in history." After the meeting, Kim and Lyubimova attended a joint performance at the East Pyongyang Grand Theatre. The event featured Russian performers from the Pyatnitsky State Academic Russian Folk Choir and the Gzhel Moscow State Academic Dance Theater, as well as North Korean artists. The program included traditional Russian songs and dances along with North Korean pieces such as "Arirang." One performance included background images showing North Korean soldiers in Ukraine's Kursk region waving both the DPRK and Russian flags. Kim presented a floral basket to the Russian performers and said he believed the visit would help further strengthen "the militant comradeship and feelings of friendship between the two countries." His daughter, Kim Ju Ae, was present throughout the event and stood by his side during conversations with Lyubimova and Ambassador Matsegora. Later that day, North Korean Culture Minister Sung Jong Gyu and Lyubimova met at the Mansudae Assembly Hall and signed a cultural cooperation agreement covering the years 2025 to 2027. The Russian delegation also visited Pyongyang's Liberation Tower, a monument commemorating Soviet soldiers who died fighting Japanese forces in Korea during World War II. North Korea has continued to spotlight its deepening ties with Russia since the start of the war in Ukraine, reinforcing its alignment through military cooperation, high-level exchanges, and joint cultural initiatives. Kim Jong Un meets Russian culture minister, pushes for stronger cultural ties 2025-06-30 09:47:10

President Lee names key Cabinet picks, tapping bureaucratic, political veterans SEOUL, June 29 (AJP) - President Lee Jae-myung on Sunday unveiled a slate of high-profile cabinet nominees, selecting experienced bureaucrats and longtime political allies to lead his administration through a pivotal early phase. The appointments include key posts overseeing the economy, judicial reform, education, and national safety. Koo Yun-cheol, a veteran technocrat and former chief of the Office for Government Policy Coordination, was tapped as Deputy Prime Minister and Minister of Economy and Finance. Koo is expected to play a central role in steering the administration’s economic strategy. Lee also nominated five-term Democratic Party lawmaker Jeong Seong-ho, a longtime confidant, as Minister of Justice. Jeong is slated to lead the administration’s efforts on judicial and prosecutorial reform, one of Lee’s central campaign pledges. Another five-term Democratic Party veteran, lawmaker Yun Ho-jung, was named Minister of the Interior and Safety. Yun, who served as chief strategist for Lee’s presidential campaign, will oversee the government’s broad restructuring of the nation’s investigative agencies, including the police. The nominations reflect Lee’s reliance on trusted political allies and career officials with deep administrative experience. Jeong, in particular, is seen as one of Lee’s closest associates, having supported him since his initial presidential bid in 2017. Despite representing the conservative-leaning northern Gyeonggi constituencies of Dongducheon, Yangju, and Yeoncheon, Jeong has secured five consecutive terms, signaling strong local support and bipartisan credibility. He also served as chair of the talent recruitment committee for Lee’s campaign, helping shape the framework for the new cabinet and presidential office appointments. Yun, who represents Guri in Gyeonggi Province, similarly brings longstanding loyalty to the administration, having directed Lee’s campaign operations throughout the race. For education minister and deputy prime minister, Lee nominated Lee Jin-sook, the former president of Chungnam National University. She is expected to helm efforts to modernize South Korea’s education system amid demographic decline and rising concerns over academic inequality. Kim Jung-kwan, president of Doosan Enerbility, was named Minister of Trade, Industry and Energy. Jeong Eun-kyeong, the former commissioner of the Korea Disease Control and Prevention Agency, was nominated as Minister of Health and Welfare. Jeong gained national recognition during the Moon Jae-in administration for her leading role in South Korea’s COVID-19 response. As part of the announcement, former prosecutor Bong Wook was appointed as the senior presidential secretary for civil affairs, and Jeon Seong-hwan was appointed as senior secretary to the president for public engagement and social cohesion. 2025-06-29 16:26:56

Loan cap in South Korea risks deepening housing inequality SEOUL, June 29 (AJP) - A sweeping new lending regulation which took effect Friday is shaking South Korea’s housing market, drawing mixed reactions from economists and homebuyers alike. The rule, which caps home mortgage loans at 600 million won (approximately $430,000), is intended to curb speculative buying and stabilize soaring home prices in Seoul. But critics warn it could further squeeze middle-class buyers out of the market. Under the new regulation, even high-income households that qualify for the maximum loan would still need at least 860 million won in cash to purchase an average apartment in Seoul, where prices now hover around 1.46 billion won. The measure effectively limits access to the city’s real estate market to wealthier individuals with significant liquidity. The policy is expected to affect more than 1.27 million households — roughly 74 percent of Seoul’s 1.71 million apartment units — according to government data. Until now, buyers in high-priced districts such as Gangnam and Seocho, where average apartment prices exceed 3 billion won, were allowed to borrow up to 50 percent of a property's value. That translated to loans of 1.5 billion won or more. Going forward, however, financing will be capped at just 600 million won, requiring buyers to bring upwards of 2.5 billion won in cash to secure a property. Analysts say the rule is likely to entrench existing inequality in the market, limiting entry to high-income professionals and so-called “cash-rich” buyers. “We’re seeing the emergence of a housing market that caters almost exclusively to the wealthy,” said one housing policy researcher in Seoul. “This could deepen socioeconomic divisions.” At the same time, there are growing concerns about a potential “exodus” of demand from central Seoul to outlying districts, including the greater Gyeonggi Province and Incheon, where housing is more affordable. While the regulation may suppress demand in the short term, some economists warn of a balloon effect, as buyers shift their focus to lower- and mid-priced areas in search of alternatives. In the immediate term, a slowdown in transactions across the capital region appears inevitable. The new policy also ties loan issuance to actual occupancy, further narrowing the pool of eligible buyers to end-users rather than investors or multiple-home owners. Some in the industry are sounding alarms about potential workarounds and unintended consequences. “There’s a high likelihood of people turning to secondary lenders or even illegal channels,” said a realtor in Seoul’s Banpo-dong. “As the rules tighten, so do the methods to evade them.” 2025-06-29 14:06:38

PHOTOS: Special counsel team opens inquiry into Yoon Suk Yeol SEOUL, June 29 (AJP) - A special counsel team concluded its initial round of questioning with former President Yoon Suk Yeol, Sunday, as part of an ongoing investigation into alleged insurrection related to his declaration of martial law on Dec. 3. Yoon was allowed to leave after 15 hours of interrogation. Prosecutors, however, plans to summon him again at 9 a.m. Monday for further inquiry. The session marked a striking moment of reversal for Yoon, who was questioned for the first time inside the very prosecutors’ office where he once served — and where he rose to national prominence leading a special counsel probe into former President Park Geun-hye’s corruption scandal. 2025-06-29 10:05:42