Musinsa opens first overseas multi-brand store in Shanghai's Anfu Road SEOUL, December 19 (AJP) - South Korean fashion platform Musinsa has opened its first overseas multi-brand store in Shanghai on Friday, marking a strategic push to expand its offline presence in China’s rapidly shifting fashion retail market. The new store, located on Anfu Road — one of Shanghai’s most influential fashion districts — brings together 59 brands across three floors, including 44 Korean designer and accessory labels and a selection of Chinese and global sports brands. The company says the space is designed to act as a hub connecting Korean independent brands with young Chinese consumers, reflecting Musinsa’s broader plan to accelerate overseas expansion. Anfu Road, often compared to Seoul’s Seongsu-dong, is known for its concentration of flagship stores and high-end boutiques, making it a focal point for trend-conscious shoppers and influencers. Musinsa said the district’s mix of heritage buildings and modern retail aligns with its strategy to position Korean designer brands within culturally resonant urban locations. The Shanghai store features themed zones to help customers navigate products more intuitively. The first floor will run rotating pop-up concepts, beginning with “Musinsa Closet,” highlighting six Korean labels that have gained traction among Chinese shoppers. The second floor focuses on Musinsa’s curated brand coordination displays, while the third floor includes a “K-pop Zone,” featuring items worn by South Korean idol groups — a nod to local demand for celebrity-driven fashion cues. The store also incorporates design elements referencing Musinsa’s retail identity, including an artwork wall illustrating its flagship locations in Seoul and dedicated zones for sneakers and headwear. Musinsa said the Shanghai opening is intended to strengthen its position as a bridge between Korean designers and the Chinese market, adding that additional localized retail strategies are being explored for other major Chinese cities. 2025-12-19 17:01:22

KT Wiz infielder Hwang Jae-gyun to end 20-year baseball career SEOUL, December 19 (AJP) - Infielder Hwang Jae-gyun is retiring from baseball, the KT Wiz said on Friday. In a statement released by the club, Hwang said, "Despite a good offer from the club, I decided to retire after much consideration." He added, "Thanks to the fans who always supported me enthusiastically, I was able to play for 20 years." "It was a great honor to be selected for the national team and to compete in international sporting events such as the Olympics and Asian Games," he recalled. "I also hope to be remembered as a player who consistently performed well without major injuries." He also expressed his gratitude to his family, coaches, teammates, and the clubs he played for. Making his professional debut in 2007 with the now-defunct Hyundai Unicorns in the Korea Baseball Organization (KBO) league, Hwang played for the Kiwoom Heroes and Lotte Giants, and also had a brief stint with the San Francisco Giants in Major League Baseball in 2017. He then joined the KT Wiz in 2018 and spent the remainder of his career with the team. He appeared in 2,200 games, posting a .285 batting average, 2,266 hits, 227 home runs, and 235 stolen bases. KT Wiz will hold an official retirement ceremony for Hwang early next year. 2025-12-19 16:40:22

Bank of Korea takes rare moves to boost USD liquidity and defend won SEOUL, December 19 (AJP) -The Bank of Korea (BOK) on Friday moved to shore up foreign-exchange market liquidity to help stabilize the won, announcing temporary regulatory relief and incentives for financial institutions in desperate move to buttress the local currency without direct intervention. At an emergency meeting held Friday, the central bank’s Monetary Policy Board approved a six-month package of measures to be applied from January through June next year. The steps follow a joint government–BOK announcement a day earlier outlining a “flexible adjustment plan” for the foreign-exchange stability framework. Under the measures, the BOK will for the first time pay interest on excess foreign-currency reserve deposits held by financial institutions in hopes to keep their dollar holdings at home. Previously, banks earned no return on such deposits, but they will now receive interest benchmarked to the U.S. Federal Reserve’s target policy rate range of 3.50 to 3.75 percent. The board also decided to fully waive the foreign-exchange stability levy over the same period. The levy, imposed on non-deposit foreign-currency liabilities under the Foreign Exchange Transactions Act, was introduced to curb excessive foreign-currency borrowing. The waiver is expected to reduce banks’ dollar funding costs and encourage a greater supply of foreign currency to the market. Yoon Kyung-soo, director general of the BOK’s International Department, said the levy waiver alone would lower financial institutions’ foreign-currency funding costs by about 10 basis points. He added that paying interest on foreign-currency reserves would strengthen banks’ liquidity buffers while also supporting profitability. The BOK said the measures would reinforce exchange-rate stabilization efforts alongside regulatory easing announced by the government, which included postponing foreign-currency liquidity stress tests and raising the cap on foreign banks’ forward foreign-exchange positions from 75 percent to 200 percent. Yoon said the central bank convened the emergency monetary policy meeting after judging that recent exchange-rate movements reflected a severe imbalance between supply and demand, but stressed that “this is not a situation comparable to last year’s martial law-related crisis.” He noted that foreign-currency funds previously managed overseas would effectively remain in South Korea if deposited at the BOK, easing pressure on the market. He also said any early-January inflows of excess reserve deposits would be manageable, as foreign-exchange reserves are calculated at month-end. Potential increases in currency-hedging demand from the National Pension Service, he added, were unlikely to pose a major risk, though adjustments could take time. Earlier this week, the central bank has extended $65 billion currency swap arrangement with the NPS. The move marks the first emergency Monetary Policy Board meeting since December 4 last year, immediately after the declaration of martial law. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-19 16:39:25

South Korea's priciest land for 23rd year SEOUL, December 19 (AJP) - A prime commercial plot in Seoul’s iconic Myeong-dong shopping district has been named South Korea’s most expensive piece of land for the 23rd consecutive year. The 169-square-meter site, currently occupied by a Nature Republic flagship store, saw its officially appraised value for 2026 set at 188.4 million won ($145,000) per square meter. This represents a 4.4 percent increase from the 2025 valuation. The plot has held the top spot in the Ministry of Land, Infrastructure and Transport's annual rankings since 2004. Trailing closely behind the Nature Republic site is a 392-square-meter plot occupied by Woori Bank’s Myeong-dong branch, which ranked second with a 2026 valuation of 187.6 million won per square meter. 2025-12-19 16:20:28

Korea grand sale kicks off SEOUL, December 19 (AJP) - The Korea Grand Sale, hosted by the Ministry of Culture, Sports and Tourism and the Korea Tourism Organization, opened on December 17 and will run for 67 days until February 22, 2026. An opening ceremony was held in Myeongdong on December 17, featuring various performances to celebrate the launch. The festival is Korea's flagship promotional event targeting foreign tourists, combining shopping, culture, and tourism. Nationwide discounts and special offers are available across various sectors, including airlines and transportation, shopping, accommodation, food and beverage, beauty, healthcare, experiences, and convenience services. The event features diverse programs, including K-content experiences that allow international visitors to directly immerse themselves in Korean culture, with strong positive responses expected from foreign tourists. 2025-12-19 16:19:33

PHOTOS: Narye, the grand royal year-end ritual SEOUL, December 19 (AJP) - The National Gugak Center will stage its year-end performance Narye from December 18 to 21 at the Yeakdang Theater in Seocho District, Seoul. Narye is a traditional ritual that dates back to the Goryeo and Joseon dynasties. Held on the final night of the lunar year, it was performed in royal courts, government offices, and private homes to drive away lingering misfortune and malevolent spirits, while praying for peace and prosperity in the coming year. It was one of the largest year-end ceremonies of the court, bringing together royal performers and the most skilled folk entertainers of the time. The event is remembered as a rare royal celebration that temporarily set aside distinctions of rank and status. The Annals of the Joseon Dynasty note that on the day Narye was held, “even court historians were present but did not record the events,” suggesting that the occasion allowed an unusual degree of freedom. Various forms of popular entertainment of the era, including Yeonhwadaemu and other performances, were staged alongside the ritual. Building on this historical context, the upcoming production reimagines the courtly Narye through a contemporary lens. Storytellers and fictional spirit figures are introduced to guide the audience through the ritual sequence. What was once an all-night ceremony has been condensed into a 90-minute stage performance. The program is structured in four acts: Gocheonji, announcing the beginning of the ritual to heaven and earth; Seyeksin, appeasing the spirits; Gunahee, a series of performances meant to expel misfortune; and Gitaepyeong, offering prayers for a peaceful new year. Each act features musicians and dancers from the National Gugak Center’s Court Music Orchestra, Folk Music Orchestra, and Dance Company, presenting representative music and choreography associated with the royal rite. A defining feature of this production is its reinterpretation of the traditional Narye procedures through newly created choreography that remains rooted in ritual form while appealing to contemporary audiences. More than 130 performers from the National Gugak Center’s ensembles take part in the production. 2025-12-19 16:17:34

PHOTOS: Japan's imperial court at the heart of Seoul SEOUL, December 19 (AJP) -Inside the exhibition hall, order and formality define the presentation of Japanese court culture. Through the Long Ages of Time: Japanese Court Culture, currently on view at the National Palace Museum of Korea, traces the formation and development of Japan’s court traditions across historical periods. The exhibition was organized to mark the 20th anniversary of the National Palace Museum of Korea and the 60th anniversary of the normalization of diplomatic relations between Korea and Japan. A total of 39 artifacts from the Tokyo National Museum are being shown in Korea for the first time, including paintings, craft works, court attire, and materials related to court rituals. The exhibition focuses on the overall structure and characteristics of court culture. The exhibition introduces the court as a space where politics, daily life, and ritual functioned together. Records depicting court life, decorative objects, court clothing, and ceremonial materials illustrate how rank, role, and order were expressed within the court system. The exhibition gains additional context from its setting within the National Palace Museum of Korea, where permanent displays of Joseon royal culture are housed. Running from December 18, 2025, to February 22, 2026, the exhibition marks the first comprehensive introduction of Japanese court culture in Korea. 2025-12-19 16:12:59

KAI secures Surion helicopter contracts worth 71 billion won SEOUL, December 19 (AJP) - Korea Aerospace Industries (KAI) said Friday it has signed separate contracts to supply one Surion multipurpose helicopter each to the Korea Coast Guard and the Korea National Park Service. The Coast Guard contract is valued at 38.5 billion won, while the National Park Service deal totals 32.8 billion won, KAI said. Each contract covers one helicopter along with spare parts, ground support equipment and training for pilots and maintenance personnel. The helicopter for the Coast Guard will be equipped with a search radar, a high-performance electro-optical and infrared system, and an automatic identification system for ships to support maritime security and safety missions, the company said. The National Park Service helicopter will be configured for disaster response and will feature a newly developed firefighting water tank that is currently under development. Including the two latest contracts, KAI said it has secured orders for seven Surion helicopters for government use in 2025. In total, the company has signed contracts for 42 helicopters for government agencies, including the police, Coast Guard, forestry and fire services, and national parks, and has delivered 28 of them. KAI also delivered two firefighting helicopters to Iraq’s Interior Ministry in October under a contract signed last year, and that the aircraft have completed initial flights in preparation for operational deployment. KAI Chief Executive Cha Jae-byung said in a press release that he is pursuing overseas marketing based on the aircraft’s performance and mission equipment. 2025-12-19 16:09:47

Nine-year-old boy becomes South Korea's youngest professional go player SEOUL, December 19 (AJP) - A nine-year-old boy has become South Korea's youngest professional go or baduk player ever, the mind sport's governing body said on Friday. According to the Korea Baduk Association, Yoo Ha-jun earned professional status after passing the final qualification round the previous day, along with another young boy Pyo Hyun-woo who is 12 years old. The two stood out among about 55 under-12 apprentices to become South Korea's youngest professional Go players. At nine years, six months, and 12 days old, Yoo broke the previous record set in 1962 by baduk grandmaster Cho Hun-hyun. With the two new additions, the association now has 456 professional players, consisting of 366 men and 90 women. 2025-12-19 15:58:56

Korean digital platforms under threat and underprepared SEOUL, December 19 (AJP) - Global content platform TikTok announced more than $2 billion in annual safety investments on Thursday — a stark contrast to South Korea's major digital platforms, which are struggling to fend off both cyberattacks and real-world security threats. TikTok said the platform, which surpassed 1 billion monthly active users globally in 2021, continues to expand its reach, with more than 100 million videos uploaded each day. According to TikTok's second-quarter data, over 99 percent of content removed for policy violations was detected proactively, before users reported it. "We have strengthened our technology development, content moderation workforce and security infrastructure," said Yang Soo-young, a TikTok manager, speaking at the company's media day in Seoul. Beyond safety, TikTok has also emerged as a key conduit for the global spread of Korean culture. An analysis of data from more than 70 countries, including Korea, shows that roughly half of all K-culture hashtag posts created over the past three years were generated in just the past 12 months. Survey results indicate that 86 percent of U.S. consumers and 76 percent of Southeast Asian consumers say they learned more about Korean culture through TikTok, with Korean dramas and music driving interest in Korean products and brands. That proactive posture stands in sharp contrast to the mounting security crisis facing Korea's homegrown platforms. Coupang recently suffered a large-scale personal data breach affecting millions of users, while Naver and Kakao have become targets of bomb-threat posts this week, triggering police investigations. What began as online harassment has escalated into physical terror warnings, fueling public outrage and raising questions about the resilience of Korea's digital infrastructure. The gap in preparedness is reflected in spending. According to CEO Score's analysis of security investments by 585 companies from 2022 to 2024, Korean firms allocated just 0.1 to 0.13 percent of revenue to information protection. More critically, security spending accounted for only 6 to 6.2 percent of IT budgets — roughly half the U.S. benchmark of 13.2 percent. In Coupang's case, a former employee of Chinese nationality has been identified as a suspect, underscoring China's complex role in the global cybersecurity landscape. China ranks second worldwide in cybersecurity market size after the U.S., according to Statista's 2026 projections, while also harboring the world's second-largest hacker population — about 22 percent — trailing only North Korea at 33 percent. Despite being prime targets, Korean companies remain reluctant to invest meaningfully in security. The underlying calculus is economic. Since the launch of the Personal Information Protection Commission in August 2020 through September this year, 109.16 million cases of personal data leaks have been recorded, resulting in cumulative fines of 367.1 billion won ($249 million). That equates to roughly 3,300 won per breach — a trivial cost compared with the punitive damages imposed in Europe or the U.S., where data-protection penalties can be severe. "Investment alone won't solve everything, but investment has to come first," said Park Choon-sik, a professor in the Division of Information Security at Seoul Women's University. "Companies need to allocate at least 10 percent of their IT budgets to security. Only then can they hire specialists, build dedicated teams and meaningfully reduce damage." China has already moved in that direction. In 2023, it introduced its first cybersecurity insurance framework, offering tax breaks and insurance subsidies to encourage voluntary enrollment. The system establishes quantitative risk-assessment standards for key industries, standardizes cyber-risk evaluation and encourages insurers to diversify coverage, including liability protection. 2025-12-19 15:50:58