S. Korea's new regional carrier SUM Air to take off next year SEOUL, December 24 (AJP) - SUM Air, South Korea's new regional air mobility (RAM) carrier, is set to take off from France to Seoul on the last day of this year. Founded in 2022, the carrier plans to operate domestic routes as well as short-haul international routes to nearby destinations such as Japan and China within two hours of flight time. SUM means "island" in Korean, and the carrier plans to connect cities and islands, including Ulleung, Heuksan, and Baengnyeong, once their airports open. "SUM Air aims to address mobility challenges in regions with limited air connectivity and grow into a core regional carrier linking communities across Korea by revitalizing regional airports," said Choi Yong-duck, CEO of SUM Air. The company said its first aircraft completed livery painting at an aircraft facility in Toulouse, France, last week and will undergo safety and airworthiness verification before departing Toulouse on Dec. 31. The aircraft is scheduled to arrive at Gimpo International Airport on Jan. 2 via a ferry flight, which is operated without passengers or cargo, with stops at Ankara Esenboga International Airport in Türkiye, Tashkent International Airport in Uzbekistan, and Lanzhou Zhongchuan International Airport in China. The ATR 72-600, the latest model from ATR, is being introduced by SUM Air for the first time in Korea. Equipped with turboprop engines, it is designed to operate safely under challenging runway conditions, especially at regional airports around the world. Since its launch, the aircraft has recorded no cases of engine damage or shutdown caused by bird strikes. Its high-wing design also allows passengers to enjoy expansive ground views and is expected to enhance safety and punctuality in a domestic aviation market where the average aircraft age exceeds 10 years. 2025-12-24 12:28:55

Korea's consumer confidence dips as weak won fuels inflation fears SEOUL, December 24 (AJP) - South Korea’s consumer confidence fell in December as inflationary expectations rose amid persistent weakness in the won, survey data showed Wednesday. The composite consumer sentiment index (CCSI) for December dropped 2.5 points from November to 109.9, according to the Bank of Korea. While a reading above 100 indicates that optimism outweighs pessimism, several subindices pointed to growing household anxiety over economic conditions. The index measuring perceptions of current domestic economic conditions fell 7 points to 89, while the outlook for the next six months dropped 6 points to 96. The declines suggest a rising share of consumers believe conditions have deteriorated compared with six months earlier and remain uncertain about the near-term outlook. Employment sentiment also weakened. The employment opportunity index slid 3 points to 92, reflecting a cooling labor market as the number of “idled” young people surpassed 700,000 for the first time, according to data from Statistics Korea. Expectations for higher borrowing costs strengthened. The prospective interest rates index rose 4 points to 102, signaling broad expectations that the central bank could raise rates within the next six months. Analysts pointed to persistent hawkish signals from U.S. Federal Reserve Chair Jerome Powell and the tightening cycle in Japan as key drivers. Inflation concerns remained dominant. The prospective prices index rose 2 points to 148, reflecting widespread expectations that prices will continue to climb over the next year. The sentiment aligns with November consumer price data, which showed inflation rising 2.4 percent — the third straight month above the 2 percent level. Households cited fuel prices (45.8 percent), fresh food prices (45.0 percent), and utility costs (36.7 percent) as the main sources of inflation pressure, exacerbated by higher import prices as the won hovers near one of its weakest annual averages on record. Housing price expectations also firmed. The prospective housing prices index edged up 2 points to 121, underscoring the limited effectiveness of government measures to cool the Seoul property market. According to the Korea Real Estate Board, Seoul apartment prices had risen 8.25 percent as of Dec. 15, the fastest pace since the agency began compiling the data. By contrast, wage expectations softened. The prospective wages index slipped 1 point to 122, limiting households’ ability to offset rising living and housing costs. Perceptions of living standards also deteriorated. The current living standards index stood at 95 and the outlook index at 100, both down 1 point from the previous month. While the prospective household income index fell 1 point to 103, the expected household spending index remained unchanged at 110, suggesting many consumers see little room to cut spending despite stagnant income growth. 2025-12-24 11:47:02

Asian shares opens higher as Christmas Eve boosts sentiment SEOUL, December 24 (AJP) - South Korean and Japanese stocks opened higher on Wednesday, buoyed by the Christmas Eve spirit, while markets in China and Hong Kong stayed flat. In Seoul, the benchmark KOSPI rose 0.3 percent to 4,129.06 and tech-heavy KOSDAQ added 0.31 points to 919.87. Samsung Electronics fell 50 Korean won to 111,450 won ($76.2), while SK hynix gained 0.9 percent to 589,500 won. LG Energy Solution rose 0.6 percent to 390,500 won. Samsung Biologics declined 1.2 percent to 1,699,000 won. HD Hyundai Heavy Industries slid 1.7 percent to 524,000 won, and Doosan Enerbility lost 0.8 percent to 77,000 won. Hanwha Ocean, which jumped more than 12 percent on Tuesday, dropped 1.8 percent to 121,200 won. Auto stocks edged up with Hyundai Motor rising 2.4 percent to 294,000 won and Kia up 1.1 percent to 121,500 won. Entertainment stocks, which surged sharply the previous day, pulled back. HYBE slipped 0.2 percent to 324,000 won, JYP Entertainment fell 0.6 percent to 71,800 won, YG Entertainment declined 0.3 percent to 66,000 won, and SM Entertainment edged down 0.3 percent to 127,300 won. In the country's foreign-exchange market, the won was traded at 1,484.9 per dollar, up 1.3 won from the previous close. The rate dropped more than 20 won shortly after opening at 9 a.m., following verbal intervention by authorities. Officials from the Ministry of Economy and Finance and the Bank of Korea said in a statement aimed at stabilizing markets, "The weak won against the greenback is not desirable." After the comments, the won strengthened sharply to 1,465.5 per dollar at 9:05 a.m., and extended its gains to 1,458 per dollar by 9:40 a.m. The ministry also announced a couple of measures to address the recent surge in the won-dollar exchange rate. Under the plan, individual investors who sell overseas stocks and reinvest the proceeds long-term in the domestic stock market will receive temporary capital gains tax relief. The government will also introduce new forward exchange products for retail investors and provide additional tax deductions for those who hedge foreign exchange risk through forward contracts. In addition, domestic parent companies will face lower tax burdens on dividends received from overseas subsidiaries. In Japan, the Nikkei 225 gained 0.4 percent to 50,615.25. Japanese shares rose, but top market-cap stocks showed mixed results. The six largest stocks by market value all fell together. Toyota dropped 0.7 percent to 3,390 yen ($21.8). Mitsubishi UFJ Financial Group fell 0.8 percent to 2,494 yen, and SoftBank Group declined 1.4 percent to 17,495 yen. Sony slipped 0.9 percent to 4,032 yen, Hitachi edged down 0.1 percent to 5,004 yen, and Sumitomo Mitsui Financial Group lost 0.3 percent to 5,112 yen. Tokyo Electron rose 2.2 percent to 33,740 yen, and Advantest gained 1.7 percent to 20,000 yen. In China, the Shanghai Composite Index edged up 2.62 points to 3,881.72, and Hong Kong's Hang Seng Index gained 5.95 points to 25,754.06. All stock markets around the world will be closed for Christmas on Thursday. 2025-12-24 11:44:03

Restored incense burners at Gyeongbokgung Palace unveiled on Christmas Eve SEOUL, December 24 (AJP) - Two lids for incense burners at Gyeongbokgung Palace in central Seoul have recently been restored, the Korea Heritage Service (KHS) said on Wednesday. The newly-created lids, perfectly restored to fit the burners in front of the palace's main hall, were unveiled to the public on Christmas Eve and will remain permanently on display. The two identical burners are believed to have been made by melting down a large bell in 1866, during the reign of Gojong, the last king of the Joseon Dynasty. Each consists of a body with two handles and three legs, topped with a lid shaped like a dragon. The lids were stolen around 60 years ago, sometime between 1961 and 1962. 2025-12-24 11:06:39

A Christmas story from Seoul: in many shapes – and beyond SEOUL, December 24 (AJP) - In Seoul, Christmas does not arrive in a single shape. It appears instead in layers — some rooted in history, others carried forward by habit, and still others projected in light. The city’s winter traditions do not replace one another. They accumulate. The season often begins, quietly, with a tree. Few people realize that the Christmas tree itself, as celebrated across Western societies, traces its botanical origin to Korea. The Korean fir, native to the southern regions of the Korean Peninsula and growing naturally on Hallasan Mountain in Jeju, became the most popular species used for Christmas trees worldwide. In 1920, British botanist E. H. Wilson identified the species and introduced it to the academic community. Through cultivation and commercialization, it would become one of the world’s most beloved Christmas tree varieties. Korea encountered the Christmas tree early, though not without myth. Legend holds that the first person in Korea to see a Christmas tree was an empress, but no historical record confirms the story. What is documented is that in 1897, American missionaries set up a decorated tree in Jeong-dong, where many of them lived. In letters sent to American churches, they described Korean students gathering around the tree, astonished by a sight they had never seen before. That sense of wonder still surfaces each winter — but it is no longer confined to trees. Another tradition appears closer to the ground, at street level. The Salvation Army’s red kettle first appeared on the streets of Myeong-dong on Dec. 15, 1928. It was introduced by Joseph Baugh, a Swedish missionary and commander of the Salvation Army in Korea, who was moved by the plight of those driven to theft and homelessness by famine and drought. That year, around 20 kettles were placed across central Seoul, including in Myeong-dong and Jongno, collecting 812 won in the currency of the time. The kettles remain a fixture of the season, though their sound has grown softer. Fundraising peaked at 7.74 billion won ($5.3 million) in 2016, fell sharply to 2.1 billion won in 2021 during the pandemic, and stood at 2.16 billion won last year — reflecting tighter household budgets, changing habits and the city’s shift away from cash. Between the tree and the kettle, Seoul’s Christmas has long balanced celebration and restraint. In recent decades, the city has added movement. At Seoul Plaza, an ice rink opens beneath the winter sky. First launched in 2004, the Seoul Plaza Ice Rink has operated every year except in 2016 — when the plaza was cleared for candlelight demonstrations calling for the resignation of former President Park Geun-hye — and during the COVID-19 pandemic. Couples skate hand in hand. Children move cautiously beside their parents. This year, the rink runs through Feb. 8, with extended hours on weekends, Christmas Eve and New Year’s Eve. For visitors, the scale of the city’s winter offerings can be unexpected. “It’s definitely not as festive as here in Seoul,” said Max Rosenthal, 12, from Georgia, visiting Korea for the first time. “Definitely not,” his father, Jason Rosenthal, agreed. “I didn’t expect it to be this big — a lot bigger and better than I thought,” Max said. “They definitely play Christmas music everywhere.” “At all the events,” Jason added. “There’s so much to do and so many places to see the lights and festivals. We’ve spent Christmas in a few countries, like Madrid. It was festive, but only in certain areas. In Seoul, the whole city feels festive.” When asked about their favorite sights, Max pointed to the river. Jason added another: the light show at Gwanghwamun. Along the stream, lanterns offer a slower rhythm. The Seoul Lantern Festival, which began in 2009, is being held for the 17th time this year under the theme “My Light, Our Dream, Seoul’s Magic.” A total of 496 works are on display, with the exhibition expanded to Uicheon in Gangbuk-gu, stretching roughly 350 meters from Uigyo Bridge to Ssanghan Bridge. A special sculpture depicting a royal procession is also featured. The lanterns glow nightly from 6 p.m. to 10 p.m. through Jan. 4. Indoors, another tradition is reimagined. The Starfield Library inside COEX Mall, which opened in May 2017, installed its first Christmas tree that winter. This year’s Christmas festival, titled A Page of Christmas Wonder, centers on a 10-meter-tall tree made entirely of paper. According to Shinsegae Property, all decorations — from the tree to the surrounding installations — were crafted from paper, depicting the imagined journey of a boy who loves books. Outside, Seoul’s most contemporary expression of Christmas rises in light. The main branch of Shinsegae Department Store in Myeong-dong — Korea’s oldest department store, nearly a century old and once used as a U.S. military PX during the Korean War — has served as a media façade since 2009. Early Christmas themes included The Wizard of Oz and Cinderella. In 2021, the store removed all exterior advertising, added 400,000 lights and filled the façade entirely with video displays. In 2024, it completed a giant digital signage system that now operates year-round. All paths eventually lead to Gwanghwamun. This year’s Seoul Winter Festa runs through Jan. 4 under the theme “FANTASIA SEOUL.” The Gwanghwamun Market recreates a European-style Christmas market as a “Santa Village,” complete with a merry-go-round. Nearby, Seoul Light Gwanghwamun transforms the 630-year-old gate into a massive screen for media art, presented under the theme “Gwanghwa, Breathe with Light.” In Seoul, Christmas is not defined by a single symbol. It begins with a tree whose origins predate modern celebration, passes through a kettle that has marked hardship and generosity for nearly a century, and arrives — unmistakably — in light, motion and digital spectacle. Different forms, one season. And a city that chooses to show all of them at once. 2025-12-24 11:02:08

Lotus transforms Seoul showroom into immersive art gallery SEOUL, December 24 (AJP) - Lotus Cars Korea finished its art collaboration event at its flagship showroom in Seoul's upscale Gangnam district on Wednesday, merging contemporary Japanese art with high-end automotive design. The event, held from Dec. 21, drew guests from fashion, design, automotive and lifestyle sectors. London and Seoul-based creative directing teams Nazferatu and Aube Arte orchestrated the showcase. Japanese contemporary artist Ryota Daimon headlined the event with a live painting performance, using a vehicle as his canvas. The artist, known for fusing street culture with traditional Japanese aesthetics, transformed the car into what organizers described as an artistic object rather than mere transportation. Korean sculptor Oum Jeong-soon, whose work has featured at the Gwangju Biennale, contributed installation pieces exploring the relationship between space, objects and human presence. Bang & Olufsen's high-end audio systems provided an immersive soundscape throughout the venue. "This art collaboration was an attempt to extend Lotus's pursuit of performance and design sensibility into the broader lifestyle sphere," a Lotus Cars Korea official said. "We plan to continue expanding touchpoints with customers through brand activities that combine art, culture and spatial experiences." The company indicated it would pursue similar differentiated marketing initiatives in 2026, seeking to carve out a distinctive brand identity in South Korea's competitive luxury automotive market. 2025-12-24 10:55:59

Korean won rises 1.3% after strong verbal intervention SEOUL, December 24 (AJP) - The Korean won surged more than 1 percent against the U.S. dollar in early trading Wednesday in Seoul, as suspected dollar-selling flows followed a strong verbal warning from authorities, amplifying a broader retreat in the greenback across major currencies. The dollar fell 22.8 won to 1,459.2 won as of 10 a.m., outperforming the dollar index’s 0.34 percent decline to 97.61. In a joint message issued before the market opened, senior officials at the Ministry of Economy and Finance and the Bank of Korea warned of their "strong will and policy capacity" to curb what they described as "undesirable" and excessive weakness in the local currency. The warning came after the dollar briefly tested the 1,480-won level earlier this month, nearing its annual trough in April amid renewed market volatility triggered by Washington's tariff-related measures. A foreign-exchange trader, speaking on condition of anonymity, said a large volume of forward dollar selling and currency-hedging transactions appeared to enter the market in tandem with the authorities' verbal intervention. Earlier this month, the National Pension Service extended a US$65 billion foreign-exchange swap agreement, giving the fund greater flexibility to conduct strategic hedging when the exchange rate reaches certain thresholds. The suspected hedging activity has reinforced market expectations that authorities are effectively defending the 1,480-won level as a key psychological and policy line. 2025-12-24 10:30:13

North Korea spurs rural development ahead of key party congress SEOUL, December 24 (AJP) - North Korea has been holding a series of opening ceremonies for new factories in provincial areas, state media reported Wednesday. According to the state-run northern mountainous areas of Kilju," adding that projects to develop provincial areas would be further expanded. North Korea has already held a slew of similar events in recent weeks including those in North and South Hwanghae Provinces and Kangwon Province. These development projects, along with the recent grand openings of new hotels near Mt. Paektu, are part of the North's ambitious plans to narrow gaps between the modernized capital of Pyongyang and rural areas within 10 years, in an apparent effort to promote year-end achievements ahead of the country's key party congress scheduled for early next year. 2025-12-24 10:20:14

Fuel tax cuts extended until February SEOUL, December 24 (AJP) - The government decided to extend a fuel tax cut for another two months as it expires later this month. The Ministry of Economy and Finance said on Wednesday that the fuel tax cut will remain until the end of February next year to support people affected by volatile gas prices amid a rising cost of living. With the extension, the current tax reductions - 7 percent on gasoline and 10 percent on diesel and liquefied petroleum gas (LPG) - will remain in place until Feb. 28. The ministry also extended the current tax break for new car purchases until the first half of next year to boost private consumption. However, a temporary tax cut on power-generation fuels for state-run energy-related companies is set to end by the end of December in consideration of stable prices. The tax break has been extended almost every six months since November 2021 to support people hit by the economic slowdown since the outbreak of the coronavirus pandemic. 2025-12-24 09:37:48

Fire at apartment complex in Seoul leaves two in critical condition, dozens evacuated SEOUL, December 24 (AJP) - A fire broke out at an apartment complex in Songpa, southern Seoul, early Wednesday morning, leaving two people in cardiac arrest and dozens evacuated. According to fire authorities, the blaze started at around 5:36 a.m. on the fifth floor of the Olympic Athletes' Village, which was built just ahead of the 1988 Seoul Olympics to house athletes and journalists and was later converted into a residential complex. Rescue officials said a man and a woman in their 60s were found unconscious and remain in critical condition. Another man and woman in their 70s who were rescued at the scene suffered minor discomfort after being exposed to smoke, while some 35 residents evacuated on their own. Some 87 firefighters were mobilized, and the fire was fully extinguished at around 7:11 a.m., roughly 90 minutes after it broke out. Authorities are investigating the exact cause of the fire. 2025-12-24 08:59:18