Lee to lead large entourage for his trip to China SEOUL, December 31 (AJP) - President Lee Jae Myung will be accompanied by a group of financial leaders on his trip to China next week for a summit with President Xi Jinping. Among his entourage is Shinhan Financial Group Chairman Jin Ok-dong, who will join Lee during his state visit to China from Jan. 4 to 7, according to industry sources on Tuesday. With the Korea Chamber of Commerce and Industry (KCCI) organizing the entourage, Jin, who chairs the business lobby's financial committee, would be the sole top financial executive. Several heads of major banks including KB Kookmin Bank CEO Lee Hwan-ju, Hana Bank CEO Lee Ho-sung, Woori Bank CEO Jung Jin-wan and NH Nonghyup Bank CEO Kang Tae-young will also be part of the delegation, along with business tycoons and leaders. While their detailed itinerary has not been finalized, a large number of the delegation are expected to help strengthen cooperation between Seoul and Beijing. Lee is expected to lead an entourage of about 200 businesspeople including the heads of the country's four largest conglomerates such as Samsung chief Lee Jae-yong, SK Group chairman Chey Tae-won, who also leads the KCCI, Hyundai Motor Group chairman Chung Eui-sun and LG Group chairman Koo Kwang-mo. 2025-12-31 15:36:39

K-haircare push expands in US as LG H&H's Dr. Groot draws crowds in New York SEOUL, December 31 (AJP) - South Korea’s K-beauty influence is extending into the hair-care sector as LG Household & Health Care’s derma scalp-care brand Dr. Groot drew nearly 1,700 visitors during a pop-up event in New York earlier this month, reflecting growing overseas interest in Korean premium hair-care products. Dr. Groot operated a two-day “pop-up truck” in Manhattan on Dec. 11–12, offering scalp-analysis services and product trials that the brand said were designed to introduce its treatment-focused hair-care concept to US consumers. The event attracted long queues despite sub-zero temperatures, according to the company on Wednesday. The activation comes amid rapid sales momentum in North America, where Dr. Groot posted year-on-year growth of about 800 percent in the first half of 2025. LG H&H has been expanding its presence in the region as global demand rises for scalp-care products marketed under the “K-haircare” banner. The pop-up also drew attention from major social-media influencers, including Bretman Rock, who visited on both days and generated online content that helped push total impressions related to the event to around 30 million as of Dec. 30, LG H&H said. Other beauty creators, such as Matt Loves Hair and Via Lia, also shared content from the site. “We will continue expanding overseas activations to strengthen global awareness of our hair-care brands,” an LG H&H official said. “Competition in the US is growing, and building consumer familiarity remains a priority.” 2025-12-31 15:30:31

To shorten working hours, Korea wants employers to pay strictly by hours  SEOUL, December 31 (AJP) - South Korea is known for long working hours. The five-day workweek is only a generation old, and the 52-hour cap has been in place for less than eight years. Average working hours remain above the OECD average, and the government now wants to address this by overhauling the way wages are calculated. It plans to tackle the loosely defined "comprehensive wage" system, under which various allowances and overtime pay are bundled into an annual or monthly salary. The government aims to require employers to track actual working hours and compensate overtime strictly based on recorded time. The move marks the first attempt to bring under statutory control a wage practice that has long been tolerated through court rulings rather than explicitly defined in labor law. The comprehensive wage system largely exists for employer convenience, allowing a preset amount of overtime, night work and holiday pay to be included in monthly salaries when tracking actual hours is deemed difficult. The practice is not stipulated in the Labor Standards Act but has been permitted in limited cases through Supreme Court rulings dating back to the 1970s. The term itself became widely used in the 1990s and gradually spread as a common pay arrangement. The system has been especially prevalent in sectors such as information technology (IT) and gaming, where long working hours are common. In practice, however, many companies have failed to pay additional compensation even when employees worked beyond the hours implicitly covered by their salaries, drawing criticism that the system has enabled unpaid overtime and wage violations. Labor experts say the controversy stems from a gap between the law's wording and how it has been enforced. The Labor Standards Act requires employment contracts to clearly specify both wages and agreed working hours, defined as the hours set within statutory limits by agreement between employers and workers. "If the law is interpreted literally, comprehensive wage arrangements are fundamentally inconsistent with this framework," said Jung Bong-soo, a labor attorney at KangNam Labor Law Firm. He added that in reality, many white-collar workers have a fixed number of overtime hours — such as 20 or 24 hours per month — vaguely included in their salaries, with no additional pay even when they work longer. "Strictly speaking, most of these practices amount to violations of the law," he said. To address the issue, the government plans to require employers to guarantee full pay even when workers perform fewer hours than agreed, while mandating additional compensation for any work exceeding the agreed hours. As a core measure, all companies would be required to record actual working hours for overtime, night and holiday work. Wage ledgers would have to include detailed information on working days and overtime hours, institutionalizing transparent tracking and management of working time. The Ministry of Employment and Labor said it intends to make clock-out records mandatory for overtime work across all businesses, with detailed requirements to be laid out in forthcoming legislation. The legal package is also expected to include a provision prohibiting after-work text orders. Korea currently has no explicit rules governing after-hours contact, with disputes handled indirectly under workplace harassment or overtime regulations. Some labor scholars caution that stronger enforcement will be crucial if the reforms are to have any real impact. "Supervision of working hours has been weak due to limited administrative capacity," said Kim Sung-hee, a professor at Korea University's Graduate School of Labor Studies. "Without clear, binding rules on how and when the measures apply, recommendations alone will not bring about change." Labor attorney Jung also noted that South Korea already has a legally defined "discretionary work system" for jobs where working time is genuinely difficult to measure. Expanding its application in line with industry characteristics and job roles could help reduce confusion surrounding comprehensive wage practices. The debate comes amid persistent concerns over South Korea's long working hours compared with other advanced economies. South Korea continues to rank among the countries with the longest working hours in the developed world. According to OECD data cited by the government, annual working hours stood at 1,859 last year, compared with an OECD average of 1,708. Although the figure has declined from 2,071 hours in 2015, South Korea still ranks near the top among member countries. Countries such as Germany, the Netherlands, Denmark and France report fewer than 1,500 working hours per year, while the United States — the next highest among major economies — stands at around 1,810 hours. The government says its latest measures are aimed at narrowing that gap by making long hours more visible — and more costly — for employers. 2025-12-31 15:10:19

Asian Culture Calendar SEOUL, December 31 (AJP) - South Korea Dec. 31 – Jan. 1 Yeosu Hyangiram Sunrise Festival Dec. 31 – Jan. 1 Homigot Sunrise Festival Dec. 31 – Jan. 1 Jeongdongjin Sunrise Festival Jan. 10 – Feb. 1 Hwacheon Sancheoneo Ice Festival Jan. 31 – Feb. 8 Taebaeksan Mountain Snow Festival Japan Dec. 31 – Jan. 1 NO LIMIT! COUNTDOWN 2026 Jan. 14 Shittenoji Doya Doya Festival Jan. 20 – Feb.8 Kobe Luminarie Thailand Jan. 10 – 11 Khon Kaen International Marathon 2026 Jan. 15 – 18 Thailand International Boat Show 2026 Jan. 16 – 18 EDC Thailand 2026 Jan. 24 – 25 Bangkok Music City 2026 Singapore Jan. 8 – 11 Singapore Motorshow 2026 Jan. 22 – 31 Singapore Art Week 2026 2025-12-31 15:05:01

Korean Economy/Business Calendar SEOUL, December 31 (AJP) - Jan 8 (Thu) 3rd–4th Quarter 2025 Flow of Funds (Preliminary) - Bank of Korea Jan 2nd week (estimate) Q4 Results (Preliminary) - Samsung Electronics Q4 Results (Preliminary) - LG Electronics Q4 Results (Preliminary) - LG Energy Solution Jan 14 (Wed) Dec. 2025 Export and Import Price Index & Terms of Trade Index (Preliminary) - Bank of Korea Dec. 2025 Annual Employment Trends - Ministry of Data and Statistics Nov. 2025 Household Income and Expenditure Trends - Bank of Korea Jan 20 (Tue) Dec. 2025 Producer Price Index (Preliminary) - Bank of Korea Jan 22 (Thu) 4Q & 2025 GDP (Preliminary) - Bank of Korea Jan 23 (Fri) Jan. 2026 Consumer Sentiment Index - Bank of Korea Jan 4th Week (estimate) Q4 Results - SK hynix Q4 Results - Hyundai Motor & Kia Jan 27 (Tue) Jan. 2026 BSI & ESI - Bank of Korea Dec. 2025 Weighted Average Rate - Bank of Korea Jan 28 (Wed) Nov. 2025 Population Trends - Ministry of Data and Statistics Jan 30 (Fri) Dec. & 2025 Industrial Activity Trends - Ministry of Data and Statistics 2025-12-31 15:04:30

South Korea to launch Asia-Pacific's first AI Basic Law on Jan. 22 SEOUL, December 31 (AJP) - South Korea will become one of the first countries in Asia-Pacific to enforce comprehensive artificial intelligence legislation on Jan. 22, but unlike the European Union's stringent compliance regime, Seoul is opting for a business-friendly approach with at least a one-year grace period before imposing penalties. The Ministry of Science and ICT said on Wednesday that the government will provide consulting services and financial support to help companies voluntarily comply with the new obligations rather than imposing immediate fines, a stark contrast to the EU AI Act which began enforcing bans on certain AI systems from February 2025. The law, officially titled the Framework Act on the Development of Artificial Intelligence and the Creation of a Foundation for Trust, marks a shift from non-binding guidelines to a legally enforceable framework. It establishes grounds for research and development support, training data infrastructure, and workforce development while mandating transparency and safety measures. Under the new regulation, generative AI providers must attach watermarks or identification labels to AI-generated content to combat deepfakes and misinformation. Operators of "high-impacting AI" systems that could significantly affect lives, safety, or fundamental rights will face heightened risk management requirements. Separately, the ministry announced that major platform operators including Naver, Kakao, and Netflix will be required to strengthen customer service systems from Feb. 12, 2026. These companies must provide multi-channel support including AI chatbots and automated response systems, with real-time human agent connections when needed. The government also unveiled plans to launch the K-STAR visa program from January to attract top science and technology talent from overseas. Foreign students in science and engineering fields who receive university presidential recommendations will be eligible to apply for residency or permanent resident status regardless of employment status. South Korea's measured approach mirrors Japan, which enacted its AI Promotion Act in May 2025 with no explicit penalties, relying instead on voluntary compliance and reputational incentives. The United States remains without comprehensive federal AI legislation, with U.S. President Donald Trump signing an executive order in December seeking to preempt state-level regulations while calling for a "minimally burdensome" national standard. China has quietly removed plans for a comprehensive AI law from its 2025 legislative agenda, opting instead for a phased approach that prioritizes pilot programs, technical standards, and targeted rules over early codification. Beijing is relying on existing statutes and sector-specific measures to manage AI-related risks while keeping compliance costs low, though observers note this leaves firms navigating fragmented frameworks and overlapping obligations. 2025-12-31 14:53:39

Cold snap grips Seoul on New Year's Eve SEOUL, December 31 (AJP) - A cold wave advisory was issued for Seoul and surrounding areas on Wednesday as sub-zero temperatures gripped the capital on New Year's Eve. Such an advisory is issued when morning temperatures are expected to drop by more than 10 degrees Celsius from the previous day, or at least 3 degrees below the seasonal average, or when the morning low is forecast to remain at or below -12 degrees for two or more consecutive days. As the bitter cold snap is expected to linger through the weekend, the Seoul Metropolitan Government plans to maintain 24-hour monitoring in collaboration with local districts and agencies, while ensuring shelters and emergency facilities are well-equipped. The city is also stepping up safety measures for major year-end events and other activities at popular scenic spots, where crowds are expected to gather to watch the first sunrise of the coming year. Seoul Mayor Oh Se-hoon also ordered officials to implement preventive measures and closely monitor vulnerable people including the elderly. 2025-12-31 14:45:15

Hanwha Systems wins $30 mln deal to supply combat systems to Philippine Navy SEOUL, December 31 (AJP) - Hanwha Systems said on Wednesday it has signed a contract worth about 40 billion won ($30 million) to supply additional combat management systems (CMS) and tactical data links (TDL) for two next-generation frigates of the Philippine Navy. The deal covers CMS and TDL equipment for two 3,200-ton-class frigates, the company said. A CMS, often described as a warship’s “brain,” integrates data from onboard sensors to detect and assess threats in real time and to command weapons systems during combat operations. A TDL enables naval units to share tactical information in real time, enhancing interoperability and operational effectiveness. A Hanwha Systems official said interoperability with existing naval platforms is critical in modern naval warfare, expressing confidence in continued exports of the company’s combat systems to the Philippines. The company is seeking to expand exports to regions including the Middle East, Southeast Asia, the United States and South America, with the goal of becoming a leading “K-defense” provider of maritime solutions. Hanwha Systems has previously exported its CMS to the Philippine Navy in several phases: for two 2,600-ton frigates in 2017; a performance upgrade for three 3,000-ton frigates in 2019; two 3,100-ton patrol vessels in 2022; and six 2,400-ton offshore patrol vessels in 2023. The CMS and TDL systems will be customized to the Philippines’ complex maritime operating environment, which spans more than 7,600 islands, the company said. 2025-12-31 14:38:19

South Korea's Daebang, Woomi, Jungheung builders face probe for unfair internal dealings SEOUL, December 31 (AJP) - South Korea’s antitrust watchdog said on Wednesday it had uncovered four cases of unfair internal transactions involving large business groups this year, imposing a combined 93.5 billion won ($70 million) in fines and referring three companies to the prosecution. Corrective orders and fines were issued against Daebang Construction, Jungheung Construction, Woomi Construction and CJ Group, while the three builders were reported to prosecutors, according to the Fair Trade Commission. The commission said it identified violations of the Monopoly Regulation and Fair Trade Act, including unfair support among affiliates and the provision of undue benefits to them. Woomi Construction received the largest penalty, 48.3 billion won, followed by Daebang Construction with 20.5 billion won, Jungheung Construction with 18 billion won, and CJ Group with 6.5 billion won. In Woomi’s case, the company, while acting as the main developer on several apartment projects, selected five affiliates with limited construction experience as non-lead contractors and allocated them substantial work volumes. The practice was found to have significantly undermined fair competition in the housing construction market. Daebang Construction and two subsidiaries were found to have resold large parcels of public housing land they had been allocated to another affiliate, Daebang Industrial Development, and its five subsidiaries, effectively transferring development project rights within the group. Jungheung Construction was penalized for providing credit guarantees to support funding for housing and industrial projects run by family-controlled affiliates. The commission said the support enabled those affiliates to raise funds, including through asset-backed and other securitized loans. 2025-12-31 14:19:18

Cooking show returns to top spot as most-watched non-English series on Netflix SEOUL, December 31 (AJP) - The second season of Netflix's hit South Korean series "Culinary Class Wars" has remained at the No. 1 spot for a second consecutive week since its release earlier this month. According to the global streaming giant's ranking website Tudum, the series garnered 4.7 million views last week, the highest among non-English TV shows overall. The previous season also claimed the top spot for three consecutive weeks when it was released in September last year. With the first three out of 13 episodes released on Dec. 16, the survival show features an intense culinary battle between lesser-known chefs, referred to as "Black Spoons," and celebrity chefs known as "White Spoons." 2025-12-31 14:07:05