OPINION: Human cost of overnight delivery SEOUL, December 16 (AJP) - South Korea’s lightning-fast delivery services, including overnight and same-day options, have become a defining feature of its retail industry and a source of national pride. For consumers, the appeal is clear: fresh groceries and online purchases arriving at the doorstep by morning. Yet behind this convenience lies a less visible cost, borne by delivery workers who endure punishing night shifts and unsafe working conditions. To sustain overnight delivery, workers spend the night sorting, inspecting and packing goods at logistics centers. Drivers then take to the roads while most of the country sleeps, navigating fatigue and heightened accident risks. Medical experts warn that prolonged night work disrupts circadian rhythms, increasing the likelihood of chronic illness and workplace accidents. In 2021, delivery companies, labor unions, the government and consumer groups reached an agreement aimed at curbing excessive night work and removing sorting duties from drivers’ responsibilities. Four years on, however, the reality on the ground has barely changed. Many drivers continue to work close to 70 hours a week, often without the ability to rest even when sick. The human cost of this system was underscored on Dec. 10, when a delivery driver in his 30s died in an accident after completing an overnight delivery on the southern island of Jeju. Subsequent investigations found that he worked six days a week for an average of 11.5 hours a day, clocking more than 83 hours a week when night premiums were included. He reportedly even worked on his scheduled day off using another person’s identification. This was not simply a matter of individual choice. It reflects a structural problem in an industry where long hours are effectively required to earn a livable income. Recognizing delivery drivers as workers, rather than independent contractors in name only, must mean enforcing limits on working hours and strengthening safety protections. Some companies point to annual earnings of up to 69 million won ($50,000) as evidence that drivers are well compensated. Yet after accounting for vehicle maintenance, fuel and other expenses, take-home income often falls below 40 million won, less than that of many office workers, despite far harsher conditions. Inadequate heating and cooling at logistics centers further expose workers to extreme temperatures throughout the year. Delivery services have become an essential part of daily life in South Korea, functioning in practice as a public utility. Yet meaningful political and regulatory attention tends to follow only after fatal incidents. The convenience enjoyed by consumers should not come at the expense of workers’ health and lives. As the world’s 12th-largest economy, South Korea can afford to place safety and sustainability ahead of sheer speed. The new government and the National Assembly must confront the risks inherent in night deliveries and move beyond symbolic agreements to implement enforceable legal and systemic reforms. A society that requires delivery workers to prove their worth through exhaustion and sacrifice is neither just nor sustainable. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 08:44:03

Seoul FX authorities extend $65 bn currency swap with NPS SEOUL, December 16 (AJP) -South Korea’s foreign exchange authorities have agreed to extend a $65 billion currency swap arrangement with the National Pension Service (NPS) through the end of 2026, as policymakers step up efforts to stabilize the won amid rising overseas investment flows and renewed market volatility. The Ministry of Economy and Finance and the Bank of Korea (BOK) in a joint statement on Monday said that the extension will help "absorb the pension fund’s demand for U.S. dollars during periods of market stress," easing pressure on the spot foreign exchange market. The arrangement with the central bank, which had been due to expire at the end of this year, allows the NPS to obtain dollars via swap transactions rather than buying them directly in the open market when rebalancing or expanding its overseas portfolio. Although foreign exchange reserves will temporarily decline by the size of the swap during the contract period, authorities stressed that the funds will be fully restored at maturity, making the impact on reserves transitory. Authorities added that hedging foreign assets through swap transactions would help the NPS mitigate exchange-rate volatility risks associated with its overseas investments, while also supporting the pension fund’s long-term returns. The NPS swap facility was first introduced in September 2022 with a $10 billion ceiling, at a time when the won was under heavy pressure amid aggressive U.S. rate hikes. Since then, the limit has been expanded steadily as overseas investment by Korea’s largest institutional investor has grown. The cap was raised to $35 billion in April 2023, $50 billion in June 2024, and further to $65 billion in December 2024, underscoring the authorities’ increasing reliance on the mechanism as a structural FX stabilizer rather than a temporary crisis tool. Policymakers have said the won’s recent weakness has been driven largely by increased U.S. equity investments by domestic investors and the NPS, alongside profit-taking by foreign investors following strong gains in the Korean stock market. The won has neared 1,500 won in recent weeks, prompting authorities to deploy a range of measures to safeguard financial stability. The currency reacted immediately to news of the extension. The dollar fell 7 won to 1,470.50 won late Monday, though officials cautioned that FX risks remain elevated given global monetary uncertainty and persistent capital outflows. Last month, the finance ministry, the BOK, the NPS and the Ministry of Health and Welfare, which oversees the pension fund, established a four-way consultation body to coordinate responses to foreign exchange market developments. The extension signals that Seoul is prepared to use institutional coordination rather than direct market intervention as its first line of defense against currency instability, as capital flows continue to test the resilience of Korea’s open financial system. NPS, the world's third largest institutional player, manages 1,100 trillion won ($750 billion), with more than 40 percent invested overseas, spanning U.S. equities, global bonds, private equity and infrastructure. These allocations require large and recurring purchases of foreign currency—primarily U.S. dollars—particularly during periods of portfolio rebalancing or strong global equity inflows. 2025-12-16 08:06:12

Korea Zinc strikes strategic alliance with US for $7.4 smelter project SEOUL, December 16 (AJP) -Korea Zinc has struck a strategic alliance with the U.S. government, including defense authorities, to build a $7.4 billion critical-minerals smelter—supporting Washington’s effort to cut reliance on China while shoring up its own defenses against a hostile takeover at home. The world’s largest non-ferrous metal smelter is deepening its alignment with Washington through a large-scale U.S. expansion that places it at the center of America’s push to rebuild domestic supply chains for critical minerals used in defense systems, semiconductors, artificial intelligence infrastructure and advanced manufacturing. At the core of the plan is a Tennessee-based integrated smelter, to be developed through Korea Zinc’s U.S. platform Crucible Metals, with total project investment estimated at $7.4 billion, combining equity, debt financing and U.S. government support. The initiative has drawn explicit backing from Washington. U.S. Commerce Secretary Howard Lutnick described the project as a “big win” for the United States, saying it would materially strengthen America’s industrial and security supply chains. He said the facility is expected to produce 540,000 tons of essential materials annually, supplying inputs critical to defense systems, advanced chips, AI infrastructure and next-generation manufacturing, while reducing U.S. dependence on China and other geopolitically sensitive sources. To fund the expansion, Korea Zinc’s board on Monday approved a 2.85 trillion won ($1.94 billion) rights offering scheme , involving 2.21 million new shares priced at 1.29 million won per share, or about a 10% discount to market prices. The shares will be allocated to Crucible JV, the U.S. joint-venture vehicle, with a one-year lock-up. Proceeds will be injected into Crucible Metals Holdings, which oversees U.S. operations. Additionally, Korea Zinc will provide long-term debt guarantees of up to $3.0 billion, extending through 2040, for borrowings by U.S. affiliate Crucible Metals LLC. The guarantee amount equals roughly 58% of the company’s consolidated equity, underscoring the scale of the financial commitment. The U.S. government will also take a direct equity role. The U.S. Commerce Department plans to grant $210 million to Crucible Metals under the CHIPS and Science Act, with the funds provided directly to the U.S. entity and the department acquiring a corresponding stake in the joint venture. Korea Zinc said the U.S. government and American strategic partners will collectively hold around 40% of the JV’s voting rights, while Korea Zinc will take a 9.99% stake. Through the JV structure, U.S. entities are also expected to gain an indirect ownership interest of about 10% in Korea Zinc. The announcement initially sent Korea Zinc shares sharply higher, reflecting investor optimism about the geopolitical tailwind and the strategic value of anchoring production in the United States at a time when critical minerals have become a cornerstone of industrial and national security policy. But the move has intensified controversy at home. Korea Zinc is facing a hostile takeover attempt led by Young Poong Group and private equity firm MBK Partners, which argue the U.S. project functions as a management entrenchment strategy that burdens the company with excessive financial risk. Korea Zinc has rejected that characterization, saying the U.S. expansion is a strategic necessity rather than a takeover defense. The company argues that closer alignment with Washington secures long-term competitiveness, access to policy support and subsidies, and demand tied to defense and advanced manufacturing—advantages that few global peers can replicate. In a separate capital measure, Korea Zinc said it will cancel 680,010 treasury shares Tuesday, reducing total outstanding shares from 19,343,263 to 18,663,253, a move expected to partially offset dilution from the new issuance. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-16 07:38:46

Qatar National day reception SEOUL, December 15 (AJP) - A reception commemorating Qatar National Day was held today at The Shilla Hotel in Seoul. Hosted by H.E. Khalid bin Ibrahim Al-Hamar, Ambassador of the State of Qatar to the Republic of Korea, the event celebrated Qatar National Day (December 18), which marks the day when Sheikh Jassim bin Mohammed Al Thani, the founder of the State of Qatar, assumed leadership and unified the nation. The reception served as a meaningful occasion to reaffirm the friendship and cooperation between Korea and Qatar. 2025-12-15 21:40:43

2025 ESG Management Awards SEOUL, December 15 (AJP) - Economic Daily presented its 2025 ESG Management Awards to 13 companies on December 15 at Seoul's Press Center. Award recipients included major financial institutions KEB Hana Bank, Industrial Bank of Korea, Mirae Asset Securities, NH Investment & Securities, Korean Federation of Community Credit Cooperatives, Hanwha Life Insurance, and KB Kookmin Card, as well as leading corporations Samsung Electronics, Hyosung Group, SamKoo INC, BHC, Karrot, and Kakao. The awards recognize companies driving sustainable growth and contributing to Korea's economic development through exemplary ESG management practices. 2025-12-15 21:39:05

OPINION: Uzbekistan-Turkmenistan, regional proximity, mutual trust and outcomes of cooperation SEOUL, December 15 (AJP) - Today, the process of mutual integration and sustainable development among the Central Asian republics has entered a new phase. Recent reforms and transformations in Uzbekistan are contributing not only to the development of the entire region but also to the strengthening of mutual trust between countries. These changes are increasingly having a tangible impact on the lives of the people living across the region. In particular, bilateral cooperation between Uzbekistan and Turkmenistan has entered a new phase. Today, Turkmenistan is considered one of Uzbekistan’s key partners across multiple sectors, including trade and economic cooperation, transport and logistics, energy, and water resource management. From 2017 to 2024, trade and economic relations between the two countries steadily expanded. As a result, Turkmenistan’s exports to Uzbekistan surged from $105.4 million in 2017 to $1.48 billion by the end of 2024, representing nearly a 14-fold increase. Uzbekistan’s exports to Turkmenistan also grew from $53.2 million in 2017 to $133.9 million in 2024. These figures reflect the consistent growth in bilateral trade volumes and the strengthening of economic ties between the two nations. Turkmenistan’s exports to Uzbekistan are dominated by mineral fuels and petroleum products, which in 2024 accounted for 95.8% of total exports, representing nearly the entire export composition. By contrast, Uzbekistan’s exports to Turkmenistan are relatively diversified, with industrial and chemical products taking the lead. Notably, fertilizers comprised 17.7% of Uzbekistan’s exports to Turkmenistan in 2024, emerging as a key item in bilateral trade. Both countries still possess untapped potential to further enhance these trade figures. Leveraging international transport corridors through seaports to facilitate experimental shipments could significantly expand transport and logistics connections. Maintaining the positive momentum in bilateral trade and potentially doubling its volume in the coming years will require strategic utilization of transport and logistics capabilities, underscoring the importance of coordinated economic planning between Tashkent and Ashgabat. To realize these strategic objectives, Uzbekistan and Turkmenistan implemented a free trade regime on February 25, 2025. Under this framework, customs duties on a wide range of goods produced in both countries have been abolished, trade restrictions removed, and bilateral trade procedures simplified, facilitating smoother commercial exchanges. Further advancing economic cooperation, a cross-border trade zone was inaugurated as a tangible outcome of the leaders’ meeting in Tashkent on November 17, 2025. This initiative links Shovot District in Uzbekistan’s Khorezm Region with Tashhovuz Province in Turkmenistan, creating new opportunities for border-area trade and enhancing connectivity between the two nations’ economies. Looking ahead, transport and logistics stand out as one of the key economic drivers capable of giving a strong impetus to Uzbekistan–Turkmenistan relations. During high-level meetings, special attention has been given to creating favorable conditions for the effective use of transit potential, including the provision of mutual incentives and concessions for freight transportation. Maximizing transit capacities will, in turn, support the active development of transport corridors along the “East–West” and “North–South” axes, leveraging facilities such as the Turkmenbashi Port, thereby facilitating mutually beneficial economic objectives. In conclusion, the strengthening of bilateral cooperation, the emergence of new regional linkages, and the development and implementation of forward-looking projects will serve the long-term interests of the peoples of both Uzbekistan and Turkmenistan. 2025-12-15 20:27:46

South Korea and Türkiye revisit historic bonds, map future partnership in Seoul SEOUL, December 15 (AJP) - The first 5,000-strong Turkish brigade, codenamed North Star, landed in South Korea on Oct. 19, 1950, just months after North Korea's invasion in June. Deployed under the United Nations Command, the Turkish contingent was not just second to arrive to South Korea's rescue after the United States, but also the second-largest contributor among the 16 nations involved in the war. Nearly 1,000 Turkish soldiers were killed or wounded while defending a country many had never seen before. Türkiye's connection to the Korean Peninsula goes back as far as more than 1,500 years ago, when the Göktürk Khaganate supported Goguryeo, one of Korea's ancient kingdoms. After the war, Turkish troops remained to help rebuild civilian life, establishing the Ankara School and Orphanage for Korean war orphans. The institution operated until the 1960s and remains a powerful symbol of humanitarian solidarity. For these reasons, relations between Seoul and Ankara are often described as a rare "blood brotherhood." That shared history was revisited Monday at a photo exhibition hosted at Korea University, which traced bilateral ties since the outbreak of the Korean War. The event brought together diplomats, policy experts, academics, and business leaders from both countries, creating an atmosphere of emotional resonance as well as strategic reflection. Seoul and Ankara are now drawing on a deep reservoir of shared history as they seek to expand cooperation into energy, technology and strategic industries, amid growing global polarization and middle-power diplomacy. High-level public-private discussions followed, aimed at moving the relationship beyond symbolism toward more reciprocal, future-oriented cooperation. The talks built on a memorandum of understanding signed during President Lee Jae Myung's state visit to Türkiye last month. The discussions were part of the "Türkiye Meetings," co-hosted by the Embassy of the Republic of Türkiye in the Republic of Korea and the Korea University Graduate School of International Studies' International Policy Forum. The gathering added substance to summit-level agreements reached on Nov. 24 and coincided with Türkiye's Language and Diaspora Day on Dec. 15. The newly expanded MoU framework covers defense cooperation, nuclear energy, high-tech industries, infrastructure and finance, as well as digital infrastructure and green energy. Both sides underscored the growing role of middle powers as the global order becomes more polarized, fragmented and increasingly shaped by great-power rivalry. One focal point of discussion was South Korea's potential participation in Türkiye's Sinop Nuclear Power Plant project. For Seoul, the project represents an opportunity to expand its global nuclear footprint; for Ankara, it promises long-term technological reliability and greater strategic autonomy in energy. What distinguishes the 2025 MoUs, however, is their breadth. Beyond defense and nuclear energy, cooperation is set to expand into digital transformation, artificial intelligence, biotechnology, smart manufacturing, renewable energy, and the green-hydrogen economy. Dr. Nam Seung-wook said nuclear cooperation could serve as a cornerstone of broader industrial alignment, pointing to efforts to "integrate Korea's high-tech manufacturing strengths with Türkiye's production base and market linkages" to build a "resilient, uninterrupted supply chain." He noted that the two governments had laid institutional groundwork through a bilateral joint statement and a subsequent MoU, adding that the framework opens the door for South Korea to participate in Türkiye's planned second nuclear power plant in Sinop, including early-stage work such as site evaluation. Such cooperation, he said, is increasingly expected to extend beyond simple exports toward "joint development and production" in both nuclear energy and related strategic industries. With South Korea facing land constraints for large-scale renewable projects, Türkiye's abundant solar, wind, and geothermal resources present a natural complement. Türkiye's growing status as a regional energy hub also aligns with South Korea's push to secure diversified and stable energy supply chains. Participants at the Türkiye Meetings included Deputy Chief of Mission Esra Dogan Grajover, while Korea University officials—led by GSIS International Policy Forum Board Chair Kim Byung-ki—hosted the event on behalf of the graduate school and its affiliated research institutes. Speaking at the event, the Turkish Deputy Chief of Mission underscored the emotional foundation of bilateral ties, describing the Korea–Türkiye relationship as "deeply rooted in shared sacrifice and mutual respect." Recalling the Korean War, she noted that Turkish soldiers who crossed oceans to defend South Korea are remembered not as outsiders but "as brothers who helped save the nation." Looking ahead, she said the recent visit of President Lee Jae Myung to Ankara was "a testament to many more achievements to come," pointing to expanding cooperation in energy, defense, technology and people-to-people exchanges, and adding that the growing partnership reflects a shared vision of building "many 75 years to come." Addressing the broader strategic context, Grajober said the partnership between South Korea and Türkiye is increasingly shaped by shared global challenges, citing "global security, economic resilience, technological transformation, sustainable development." In that environment, she argued, reliable partnerships matter more than ever, asking, "who could be more trustworthy than a brother tested in difficult times." As both countries look ahead, officials emphasized that the challenge now lies in translating historic goodwill into sustained, project-based cooperation—anchored not only in memory, but in shared strategic interests for the decades ahead. 2025-12-15 18:00:15

Korean won at record low signals monetary policy failure SEOUL, December 15 (AJP) - The Korean won hovering near its weakest level on record is set to ripple across the economy, from higher inflation and capital outflows to a deepening discount on Korean assets and companies. The dollar closed Monday in Seoul at 1,472.2 won, down 5.30 won, as the yen strengthened broadly on expectations of a rate hike in Japan later this week. The modest pullback offered only fleeting relief for policymakers. Authorities were alarmed enough to convene an emergency meeting on Sunday, attended by the finance minister, central bank governor, financial regulators and senior officials from the presidential office, welfare ministry and industry ministry, after the dollar approached 1,480 won in over-the-counter trading. Despite the brief rebound, the won’s slide has reached historic proportions. The average dollar-won exchange rate for the year through Dec. 14, 2025, stands at 1,420 won — surpassing the previous record of 1,394.7 set in 1998, when South Korea was under an International Monetary Fund bailout. The longer-term trend is equally troubling. The won has weakened steadily since 2021, initially reflecting ultra-loose global liquidity during the pandemic, followed by aggressive post-pandemic monetary tightening. What stands out now is a clear decoupling. The won is falling sharply against the backdrop of dollar softening and rate cuts in the U.S. So far this month, the won has lost 0.7 percent against the dollar, while most major currencies have gained. Economists increasingly point to excess liquidity as the root cause. Korea’s policy normalization has proceeded more slowly and cautiously than elsewhere, largely out of concern over household debt levels, among the highest in the world. “If I had to summarize the reason for the exchange rate rise in one word, it would be ‘liquidity,’” said Kim Gwang-seok, director of economic research at the Korea Institute for Industrial Economics & Trade. Korea’s broad money supply (M2) grew 8.5 percent year over the year as of September, according to the Bank of Korea. Even excluding exchange-traded funds, growth stood at 6.3 percent — up to three times faster than the United States’ 4.6 percent and Japan’s 1.8 percent. An oversupply of won inevitably erodes its value. “When M2 expands, inflation rises, household debt swells, and exchange-rate instability accelerates as the supply of won increases,” said Moon Hong-cheol, an analyst at DB Securities. The liquidity glut has spilled across borders. Korean nationals’ overseas equity purchases surged to $18 billion in October — six times the $2.93 billion foreign investors put into Korean stocks — according to Bank of Korea data. Flush with cash, Koreans are choosing foreign assets over domestic ones, a telling verdict on confidence in the won. Large-scale capital commitments abroad are also adding pressure. The $350 billion in promised investments in the United States, agreed during bilateral trade negotiations, are widely cited as another structural source of net won outflows. Unlike Japan, which benefits from a standing currency swap line with the U.S., South Korea has limited buffers, relying on foreign-currency bond issuance or returns from overseas assets — constraints that weigh on its dollar liquidity. A weak won quickly feeds into prices. Import costs are rising even as global energy prices fall. South Korea’s import price index rose 2.6 percent on month and 2.2 percent on year in November, the steepest monthly increase since April last year. This came despite Dubai crude averaging $64.47 per barrel, down from $65 in October, underscoring how exchange rates — not commodity prices — are driving inflationary pressure. Beyond households, prolonged currency weakness threatens longer-term damage to Korean Inc. Cross-border mergers and acquisitions reached nearly $3 billion as of September, up 54 percent on year, accounting for 13 percent of the $20.65 billion in foreign direct investment pledged by the third quarter, according to the Ministry of Trade, Industry and Energy. FDI inflows jumped 36.5 percent to $3.07 billion as a won that averaged 4 percent weaker than last year’s level effectively discounted Korean assets. High-profile targets such as Lotte Rental and IGIS Asset Management have drawn aggressive foreign interest — a grim reminder of past episodes when distressed Korean companies were snapped up during IMF crisis in what felt like fire sales. Underlying growth also weighs over the currency prospects. “Semiconductor exports have increased, but the domestic economy has failed to emerge from its slump, and shrinking domestic investment is entrenching a low-growth trajectory,” the Korea International Trade Association said in a report last week, calling for structural reform. “Attempts to manage currency supply and demand without addressing fundamental structural issues will ultimately fall short,” the report warned. 2025-12-15 17:53:58

Korean and foreign brokerages chant KOSPI 5,000 for next year SEOUL, December 15 (AJP) - South Korea’s benchmark KOSPI has hovered around the 4,000 level throughout December, entering a consolidation phase after a stunning rally that lifted the index 64 percent so far this year. But after catching its breath, the market may be setting its sights on the next psychological milestone — 5,000 — in 2026, according to a growing chorus of domestic and foreign brokerages. Among 11 local brokerages that have published 2026 outlooks, the average upper-end forecast stands at 4,979, while the average lower-end projection is 3,737. Roh Dong-gil, an analyst at Shinhan Investment & Securities, predicted that the Korean stock market will enter “an uncharted new world” next year, driven by structural expansion in corporate earnings. “Growth sectors such as artificial intelligence, semiconductors, secondary batteries, healthcare and renewable energy will lead earnings growth,” Roh said. KB Securities analyst Lee Eun-taek also forecast what he described as a “best-ever bull market,” contingent on government-led capital market reforms and a strengthening won reinforcing investor confidence. Foreign investment banks are even more bullish. JPMorgan expects the KOSPI to reach 5,000 next year, Citi sees it climbing to 5,500, while Macquarie has raised its target to 6,000. Talk of a 7,500 KOSPI has also entered market discourse. In a report released on Nov. 6, KB Securities set its 2025 target at 5,000, while outlining a long-term bull-case scenario of 7,500. The optimism is underpinned by expectations of a bumper year for South Korea’s memory chip industry, widely seen as the main engine of economic growth in 2025. Both domestic and global institutions have recently upgraded their growth forecasts for the Korean economy. Nomura raised its 2026 GDP growth projection to 2.3 percent from 1.9 percent, while the OECD forecasts 2.2 percent. The Korean government, the Korea Development Institute and the International Monetary Fund each project 1.8 percent growth, while the Korea Institute of Finance sees 2.1 percent. Earnings expectations for major chipmakers are fueling the bullish case. SK hynix’s operating profit is forecast at 74.65 trillion won ($50.66 billion) next year, up 75.2 percent from this year, while Samsung Electronics’ operating profit is projected to jump 114.4 percent to 83.24 trillion won. Together, the two firms are expected to drive aggregate earnings growth among KOSPI-listed companies in 2025. Additional tailwinds include strong earnings momentum in AI-related sectors, government-led capital market reforms, and expectations of dollar weakness amid declining global interest rates. Many strategists believe a liquidity-driven rally could begin next year as the U.S. Federal Reserve continues its easing cycle, having already cut rates three times this year. Samsung Securities, in particular, expects the share of pro-Trump policymakers within the Fed to increase, amplifying calls for further rate cuts. With Chair Jerome Powell’s term set to expire in May, the next Fed leadership could tilt toward a more growth-friendly stance aligned with former President Donald Trump’s policy preferences. Still, economists warn against excessive optimism. “Levels such as 6,000 or even 7,500, as projected by Macquarie or some local brokerages, represent the extreme end of bullish scenarios,” said Kim Dae-jong, a professor of business administration at Sejong University. “Such targets would require a synchronized combination of global liquidity easing, a semiconductor supercycle and effective policy reform,” he said. “KOSPI 5,000 is not simply about economic recovery,” Kim added. “It ultimately depends on how far corporate profit structures improve and how deeply capital market reforms take root.” 2025-12-15 17:52:28

Ex-military intelligence chief sentenced to two years in prison over martial law involvement SEOUL, December 15 (AJP) - Noh Sang-won, former chief of South Korea's military intelligence unit, was sentenced to two years in prison on Monday for privacy violations and other charges related to disgraced former President Yoon Suk Yeol's botched martial law debacle last year. The Seoul Central District Court found Noh guilty of gathering personnel information as well as accepting bribes. He was also fined 24.9 million Korean won (US$17,000). It was the first verdict among cases related to the debacle investigated by independent prosecutors led by Cho Eun-suk, who had sought a three-year prison sentence for Noh. Noh was accused of illegally obtaining military personnel data between September and December last year to form a unit investigating election fraud, and of accepting cash and gift vouchers in exchange for promotions. The court ruled that Noh had prepared for Yoon's Dec. 3 martial law declaration, saying his actions and inappropriate use of data were gravely serious and could not be dismissed as mere privacy breaches. Noh avoided a harsher sentence as the court granted leniency, considering that the data was not leaked outside the military and the bribery attempt failed. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-15 17:41:30