Why Korea's MZs are drifting away from iPhone SEOUL, December 16 (AJP) - The conventional wisdom that iPhone users rarely switch ecosystems is beginning to fray in South Korea, where a small but notable share of Millennials and Gen Z (MZ) consumers are migrating to Samsung’s Galaxy lineup, driven less by price than by everyday usability. Net switching among users in their 20s has reached 11.3 percentage points in favor of Galaxy, according to Counterpoint Research, challenging Apple’s long-held grip on young Korean consumers. Analysts say the shift reflects practical considerations—from mobile payments and call recording to foldable form factors—that Apple has been slow to deliver in a market known for tech-savvy users. While iPhones still dominate among Koreans in their 20s, holding a 63 percent share compared with 35 percent for Galaxy, brand loyalty appears to be weakening. Only 52 percent of young iPhone users plan to stick with Apple for their next device, according to a survey of 3,045 respondents conducted by recruitment platform Catch. Another 40 percent said they intend to switch to Galaxy, a shift that could upend the balance if intentions translate into purchases. “I used to think iPhones made people look more artistic and stylish,” said Kim Arin, a Seoul-based professional in her 30s who recently switched to Galaxy. “But at some point, practicality started to matter more.” The transition becomes more pronounced as users enter the workforce. iPhone penetration among those aged 20–24 stood at 74 percent in mid-2023, compared with 55 percent among those aged 25–29, according to Gallup Korea. Galaxy’s share climbed to 44 percent in the older cohort, suggesting that daily usability increasingly outweighs brand identity once professional routines set in. Among iPhone users considering a switch, the most frequently cited reason was the convenience of Samsung Pay and its deep integration with Korea’s domestic payment infrastructure. Other factors included missing features such as call recording, flexible file transfers, and foldable displays, while price ranked lower. Emotional appeal placed near the bottom. “In South Korea, Apple Pay’s real-world acceptance remains limited compared with Samsung Pay,” said Lee Soo-joon, a professor at Sejong University’s College of Business. “Domestic issuer support initially centered on Hyundai Card, and the broader rollout is still incomplete.” The divide extends beyond payments. Lee noted that Samsung offers AI-powered photo editing and other advanced features without requiring paid subscriptions, while Apple continues to gate many functions behind additional fees. “In terms of AI, Apple is clearly behind,” Lee said. “If Apple wants to narrow this gap, strengthening AI capabilities is no longer optional—it’s essential.” Samsung’s foldable lineup is also reshaping competition at the premium end of the market. Industry data show that nearly half of Galaxy users in their 20s now opt for the Z series, led by the Z Flip, indicating that switching is occurring within high-end devices rather than toward budget models. “With foldable and tri-fold designs, Samsung is expanding screen real estate into territory that overlaps with tablets,” Lee said. “Apple’s new models lack that kind of scalability.” Offline retail trends reinforce the shift. An employee at a Casetify store in Seoul said demand for Galaxy foldable cases surged following the launch of the Flip 7 and Fold 7. “When those models came out, cases sold out for a while,” the employee said. “We didn’t see that with earlier versions, but now more customers in their 20s and 30s are clearly moving from iPhones to Galaxy.” Broader usage data underscore the tilt toward utility-driven choices. About 70 percent of Koreans aged 20–29 use Samsung Pay, the highest rate among all age groups, according to Gallup. Bank of Korea data show that more than 80 percent of early-career workers rely primarily on mobile payments, leaving little tolerance for ecosystems that still depend on physical cards. Apple retains a numerical lead among young users, and the shift does not signal an abrupt collapse. But the convergence of net-switching data, purchase intentions and premium-device adoption suggests that loyalty among Korean younger consumers is becoming conditional. Lee framed the trend as part of a broader reassessment of Apple’s post–Steve Jobs trajectory. “In Korea, there’s a growing perception that Apple has become more design-focused than function-driven,” he said. “iPhones still excel at design and security, but in a market where practical infrastructure matters, that’s no longer enough.” For now, the message from young Korean consumers is clear: smartphone choices are increasingly decided by daily usability, not brand mythology—and the balance is shifting. 2025-12-16 16:17:09

Incheon airport chief pushes back on president's call for cash-smuggling probe SEOUL, December 16 (AJP) - The head of South Korea’s Incheon International Airport Corporation said on Tuesday that a full investigation into allegations of cash smuggling using books would be virtually impossible, pushing back against an order issued by President Lee Jae Myung. Lee Hak-jae, chief executive of the airport operator, told a press conference in Incheon that searching for $100 bills concealed inside books would be unworkable in practice. “Conducting a full search for banknotes hidden in books is not feasible,” said Lee, a former three-term lawmaker of the opposition People Power Party. “It would disrupt airport operations and cause significant inconvenience to passengers.” President Lee had earlier raised concerns during a briefing by the Ministry of Land, Infrastructure and Transport about the possibility of smuggling large sums of money by hiding $100 bills in books. After Lee Hak-jae failed to give clear answers, the president publicly criticized him and instructed authorities to conduct a comprehensive investigation. Asked about alternative measures, Lee said the airport would strengthen existing security checks in response to public concern. “We will enhance current screening procedures in light of the president’s remarks and public interest,” he said, adding that the airport was open to proposals from customs authorities to improve detection methods. Lee also rejected calls for him to step down, saying his position was protected by a fixed term. “I have not considered resigning,” he said, adding that he had not received any direct communication from the presidential office regarding his status. Separately, Incheon International Airport outlined plans to ease congestion through airline relocations and expanded terminal operations. Low-cost carriers Air Busan and Air Seoul began operating from Terminal 2 in the third quarter, while Asiana Airlines is scheduled to move there on Jan. 14. The shift is expected to reduce congestion at Terminal 1, which currently handles about 66 percent of passengers, lowering the share to around 49 percent. Terminal 2 will see expanded capacity, including the addition of 119 security staff, an increase in parking spaces from 19,553 to 25,540, and an expansion of boarding gates from 47 to 63. The airport forecasts 73.52 million international passengers this year, with total passenger traffic reaching 74.04 million. Passenger numbers are projected to rise 2.1 percent next year to 75.07 million. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 15:51:24

Another turbulent year looms for Korea's petrochemical industry in 2026 Editor's Note: AJP is running a series on the 2026 outlook for South Korea's key industries, based on forecasts compiled by the Korea Chamber of Commerce and Industry (KCCI). The first installment examines petrochemicals. SEOUL, December 16 (AJP) - South Korea's battered petrochemical industry, already deep into streamlining and restructuring, is bracing for another difficult year in 2026, with conditions expected to remain cloudy and rain-soaked, according to an industrial "weather forecast" released by the Korea Chamber of Commerce and Industry (KCCI). Exports are projected to fall a further 6.1 percent next year, following an estimated 11.2 percent drop in 2025, as global oversupply continues to weigh heavily on prices and margins. Domestic output is expected to edge up just 0.9 percent to 20.67 million tons, reflecting capacity rationalization after an estimated 3.7 percent contraction this year. The global glut shows little sign of easing. China's share of global ethylene capacity has surged from 21 percent in 2022 to an estimated 25.2 percent this year, while worldwide oversupply is projected to widen to 49 million tons in 2025, up from 44.9 million tons last year. Restructuring has been most acute at the Yeosu petrochemical complex in South Jeolla Province, which accounts for roughly half of South Korea's total petrochemical capacity and produces 6.41 million tons of ethylene annually. During a visit last month, Trade, Industry and Energy Minister Kim Jung-kwan warned that companies failing to meet a December deadline for output cuts would be excluded from government relief measures. Under a government-mediated "voluntary pact" reached in August, three major petrochemical hubs agreed to roll back naphtha cracking output by up to 25 percent of total capacity. At the Daesan complex in South Chungcheong Province, Lotte Chemical and HD Hyundai Chemical have already submitted plans to scale down their naphtha cracking centers, while Ulsan-based producers SK Geo Centric and Korea Petrochemical are exploring partnership options. Progress elsewhere has intensified pressure on Yeosu-based producers to follow suit. Yeocheon NCC, the country's third-largest ethylene producer, reached a breakthrough this month after its joint owners Hanwha Solutions and DL Chemical reportedly agreed to finalize feedstock supply contracts that had been stalled for nearly a year over pricing disputes. The agreement clears the way for Yeocheon NCC to permanently shut down its No. 3 plant, which has been idle since August, eliminating 470,000 tons of annual capacity. The two shareholders have also agreed to convert a combined 300 billion won ($220 million) in loans into equity. Tensions, however, remain unresolved. DL Chemical said Monday that it had proposed shutting down Yeocheon NCC's larger No. 1 plant, which has capacity of 900,000 tons, a move Hanwha Solutions said had not been agreed upon. Industry sources interpret the proposal as DL's attempt to minimize its losses, noting that Hanwha consumes roughly 1.4 million tons of ethylene annually—nearly twice DL's usage of 735,000 tons. DL Chemical argued in a statement that closing either the No. 1 or No. 2 plant was the only viable option to stem ongoing losses. China's relentless capacity expansion has continued to erode margins across the naphtha-based value chain. Ethylene prices have fallen to about $740 per ton this month, down 17 percent from the start of the year, while propylene prices have dropped 15 percent to around $880 per ton. Analysts expect the oversupply to persist at least through 2027. Domestic demand has offered little relief. Output of vehicles for the domestic market fell 2.7 percent in 2024 to 4.13 million units, while construction activity has contracted by double digits for most of 2025. Rising imports of plastic and textile products have further squeezed demand for locally produced petrochemicals. "Under a conservative scenario involving SK Geo Centric in Ulsan, Yeocheon NCC's No. 1 plant in Yeosu and Lotte Chemical in Daesan, the industry could shed around 2.7 million tons, or 21 percent of domestic capacity," said Jeon Yu-jin, an analyst at iM Securities. "A more aggressive scenario that includes LG Chem's No. 1 plant would push cuts to about 3.9 million tons, or 30 percent." In its report, KCCI urged the government to elevate eco-friendly petrochemical technologies from a "new growth engine" to a "national strategic technology," a move that would lift tax credits by more than 10 percentage points. The group said stronger incentives could accelerate the industry's shift toward bioplastics, chemical recycling and electric-heated naphtha cracking. "China's manufacturing competitiveness is rising by the day, putting every producer on edge," said Lee Jong-myung, head of KCCI's industrial innovation division. "Companies must continue experimenting aggressively, including with AI, while the government needs to deliver bold regulatory reforms and incentive frameworks to support the transition." 2025-12-16 15:46:16

South Korea's Wemade to launch 'Mir M' role-playing game in China SEOUL, December 16 (AJP) - South Korean game developer Wemade said Tuesday it will officially launch its multiplayer online role-playing game Mir M in China next month, aiming to regain traction in the world’s largest gaming market. In China, the title will be released as Mir M: Twilight Double Dragons, a modern adaptation of Wemade’s long-running hit Legend of Mir 2. Legend of Mir 2 once dominated China’s online gaming market, capturing a 65 percent market share in 2004. The game was also listed in the Guinness Book of Records in 2005 after reaching 800,000 concurrent users. Wemade said it plans to capitalize on the franchise’s strong brand recognition to accelerate its re-entry into the Chinese market, where competition has intensified and regulatory scrutiny remains high. To improve its chances of success, the company has implemented an extensive localization strategy, incorporating feedback from multiple pre-launch tests and reflecting current player preferences in China. While retaining signature elements such as eight-directional grid-based combat and a quarter-view perspective, the game’s combat system, equipment progression and user interface have been redesigned for local audiences. Wemade has also added China-exclusive cinematic content and unique design features to enhance player immersion. An early access server launched on Dec. 4 has been operating smoothly, the company said, with user data set to carry over to the official release. Wemade said it is focusing on service stability and optimization ahead of the full launch. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-16 15:35:51

South Korea, US hold consultative talks to coordinate North Korea policy SEOUL, December 16 (AJP) - Officials from South Korea and the U.S. on Tuesday held talks to coordinate policies toward North Korea. According to the Ministry of Foreign Affairs, the consultative meeting among relevant ministries and agencies, led by Jeong Yeon-doo, head of the ministry's office of diplomatic strategy, was held in Seoul, with acting U.S. Ambassador to South Korea Kevin Kim in attendance. Defense and security officials from both countries also attended, discussing relevant issues and exchanging opinions. The ministry explained that the meeting was held to bolster close cooperation for the complete denuclearization of North Korea and other issues for the peace of the Korean Peninsula, proposing regular meetings for consistent policies toward the North. But amid discords between ministries, officials from the Ministry of Unification, which handles inter-Korean affairs, did not attend. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 15:33:45

Top security adviser heads to Washington to discuss implementation of bilateral agreements SEOUL, December 16 (AJP) - National Security Adviser Wi Sung-lak on Tuesday left for Washington for working-level talks with U.S. officials this week. His trip comes after South Korea and the U.S. released a comprehensive joint fact sheet last month detailing agreements on bilateral trade and security. Wi is also expected to discuss measures for peace and security on the Korean Peninsula. Just before his departure from Incheon International Airport, Wi said, "I will discuss two main issues in the U.S. – follow-up on the joint fact sheet and peace on the Korean Peninsula." Wi emphasized the need for in-depth discussions and coordination with multiple U.S. agencies to implement the agreements outlined in the joint fact sheet, which include a U.S. commitment to support the reprocessing of spent nuclear fuel, uranium enrichment, and the construction of nuclear submarines using U.S.-supplied fuel. Wi will meet with U.S. Secretary of State Marco Rubio and other officials to expedite the bilateral deal and share updates on progress. He also highlighted South Korea's diplomatic efforts to improve relations with its neighboring countries of China and Japan, which could help facilitate engagement with North Korea. Referring to President Lee Jae Myung's proposal to U.S. President Donald Trump to act as a "peacemaker" during their first summit in Washington, D.C. last summer, Wi said he plans to discuss strategies for bringing North Korea to the dialogue table. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 14:53:21

Korea's M2 growth quickens to 8.7% in Oct; BOK rejects FX link SEOUL, December 16 (AJP) -South Korea’s broad money supply (M2) has remained in the 8-percent growth range since August and accelerated further to 8.7 percent in October, the Bank of Korea said Tuesday, while pushing back against claims that the liquidity increase is driving the won’s weakness. According to the central bank’s monetary aggregates report, the average M2 balance stood at 4,471.6 trillion won in October, up 0.9 percent from the previous month and 8.7 percent from a year earlier, marking the third consecutive month of annual growth above 8 percent. M2 includes cash, demand deposits and short-term financial instruments such as money market funds and certificates of deposit. The October increase was driven mainly by a 31.5 trillion won rise in securities-related balances, reflecting heavy stock market investment amid a rally in domestic equities. Regular deposits increased by 9.4 trillion won, partly due to banks’ regulatory funding needs. By sector, households and nonprofit organizations recorded a 24.1 trillion won increase in M2 balances, while other financial institutions and corporations also contributed to the expansion. Narrow money supply (M1), which includes only cash and demand deposits, rose 0.2 percent month on month and 8.1 percent year on year. Amid growing debate over whether rapid M2 growth is fueling asset inflation and foreign-exchange volatility, the Bank of Korea said it would revise its monetary statistics in line with updated International Monetary Fund (IMF) guidelines, with revised figures scheduled for release on Dec. 30. From November data onward, the central bank will publish two versions of M2—the current series and a measure excluding securities-related balances—for at least a year, in an effort to clarify underlying liquidity conditions. Kim Min-soo, head of the BOK’s financial statistics team, said securities accounted for 3.3 percentage points of October’s 8.7 percent M2 growth, or about 40 percent of the total increase. “Without securities, the growth rate would have been below 6 percent in September,” he said. The central bank stressed that liquidity alone is not driving housing prices or the exchange rate. Park Sung-jin, head of the BOK’s market operations team, noted that South Korea’s M2 definition differs from that of the United States, where securities are excluded, cautioning against direct comparisons of liquidity conditions across countries. He added that recent housing price increases in the Seoul metropolitan area cannot be attributed solely to money supply growth, pointing to macroprudential measures that have slowed household lending. As for the won, Park said exchange-rate movements are being shaped more by overseas securities investment, exporters’ foreign-currency holdings, and broader capital flows than by domestic liquidity expansion. As of 2:40 p.m. Tuesday, the dollar reversed direction after falling to 1,468 won earlier to 1,475.60 won, up 4.80 won last close on heavy foreign stock selling. 2025-12-16 14:48:02

Sookmyung Women's University team develops light-activated technology to break down fat SEOUL, December 16 (AJP) - A research team at Sookmyung Women’s University, led by Professor Byun Jun-ho in the College of Pharmacy, has developed a new nanotechnology that uses light to selectively break down fat inside fat cells, a potential advance toward safer and more precise obesity treatments. The researchers said in the study, announced on December 16, that the approach targets fat without damaging surrounding tissue, addressing safety concerns linked to existing obesity treatments. Obesity is one of the most common chronic health conditions worldwide and is closely associated with diabetes, cardiovascular disease, and fatty liver disease. Current treatments rely largely on medication or surgery, which can cause systemic side effects or require invasive procedures, increasing demand for more targeted alternatives. The team focused on a natural cellular recycling process known as chaperone-mediated autophagy, or CMA. CMA helps maintain balance inside cells by breaking down specific proteins, and recent studies have shown it plays a key role in fat metabolism. To activate this process selectively, the researchers developed a nanoparticle system embedded in a hydrogel. The nanoparticles are coated with membranes derived from fat cells, allowing them to be absorbed primarily by fat cells rather than immune cells or nearby tissue. Each particle also carries a drug that promotes fat breakdown. When near-infrared light is applied, the nanoparticles generate mild heat that activates a key CMA-related protein, HSC70. This triggers the breakdown of a protective protein surrounding fat droplets, allowing fat-digesting enzymes to access and dismantle stored fat. The effect occurs only inside fat cells. In animal tests using mice fed a high-fat diet, the treatment led to significant weight loss and clear reductions in fat tissue size and triglyceride accumulation after light exposure. The researchers reported no abnormal findings in major toxicity indicators, including liver and kidney function, supporting the potential of the approach as a localized treatment. Byun said the study differs from existing light-based fat treatments that destroy fat cells directly. “This strategy selectively breaks down fat by precisely controlling the cell’s natural degradation system,” he said, adding that the approach could eventually be expanded to metabolic and aging-related diseases linked to impaired autophagy. The findings were published in Advanced Materials, an international journal in materials science and nanobiotechnology. The study was conducted in collaboration with researchers from Seoul National University, Korea University, and the Korea Institute of Materials Science. ◆Journal: Advanced Materials (impact factor 26.8, JCR top 2.2 percent) ◆Title: Selective Lipolysis by Photoactivation of Chaperone-Mediated Autophagy Using Adipocyte Membrane-Coated Nanoparticle in Hydrogel ◆DOI: https://doi.org/10.1002/adma.202418445 2025-12-16 14:30:49

Ferrari selects Samsung Display OLED panels for next-generation vehicles SEOUL, December 16 (AJP) - Ferrari will adopt automotive organic light-emitting diode (OLED) panels from Samsung Display for its next-generation vehicles, as the luxury sports carmaker seeks to enhance in-car digital experiences through advanced display technology. The Italian automaker said Tuesday Samsung Display’s panels were selected for their ability to support the innovative designs and form factors required for Ferrari’s future models. “Samsung Display’s expertise in designing and manufacturing thin and lightweight OLED panels is a clear advantage in enhancing the digital environment of Ferrari’s next-generation models,” Ernesto Lasalandra, Ferrari’s chief research and development officer, said in a statement. “In the luxury segment, improving the customer experience is key, and Samsung’s support was essential in introducing unprecedented custom advanced display solutions in the automotive industry,” he added. Lasalandra said the partnership reflects broader industry trends, including digitalization, user experience and premium branding, and highlights the growing role of cross-industry technology collaboration in driving automotive innovation. Park Jin-woo, executive vice president of Samsung Display, said the agreement underscores the South Korean company’s technological leadership in advanced displays. “When thinking of the world’s most iconic high-performance sports cars, Ferrari is the brand that comes to mind,” Park said, adding that both companies share values of passion, continuous innovation and a commitment to excellence. “Through this partnership, we aim to deliver exceptional value to consumers and further strengthen Samsung Display’s position as a leader in next-generation display innovation,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 14:27:57

Generative AI lowers barriers to cyberattacks as hacking cases jump in South Korea SEOUL, December 16 (AJP) - Hacking crimes in South Korea have surged alongside advances in artificial intelligence, as generative AI tools lower the barriers to launching cyberattacks, according to a report released by the Korean National Police University. The university’s Crime Policy Research Institute said 2,617 hacking cases were recorded between January and September this year, up 30.6 percent from the same period a year earlier. Of those cases, 551 were solved, lifting the arrest rate to 21 percent, an increase of 3 percentage points from last year. Despite the improvement, the institute said investigative outcomes remain constrained by the growing sophistication of hacking techniques. “While investigative capabilities have improved to some extent, the rapid evolution of hacking methods is making crime tracking and prevention increasingly difficult,” the institute said in the report. The expansion of online and cloud-based systems across the corporate and public sectors has widened the pool of potential targets, while hackers are increasingly using AI to accelerate and scale their attacks. Generative AI can automatically design attack scenarios based on learned hacking patterns, posing a qualitatively new threat. By reducing the need for advanced coding skills, the technology allows even relatively inexperienced users to carry out cyberattacks. Overall cybercrime also continued to rise, increasing 22.6 percent through September from a year earlier. Cases of cyber sexual violence climbed 22.4 percent over the same period, the institute said. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-16 14:13:13