Major offshore wind farm comes online, boosting Korea's clean energy push SEOUL, December 11 (AJP) - SK Innovation E&S said Thursday it has completed Jeonnam Offshore Wind Farm 1, the country’s largest privately financed offshore wind project, marking a milestone for South Korea’s efforts to expand renewable energy and meet its carbon-neutrality targets. A completion ceremony was held in Sinan, attended by Climate and Energy Minister Kim Sung-hwan, South Jeolla Province Governor Kim Young-rok and SK Innovation E&S President Lee Jong-soo. The fixed-bottom wind farm, located about 9 kilometers northwest of Sinan’s Jaeun Island, has an installed capacity of 96 megawatts. Equipped with 10 9.6MW turbines, it is expected to generate roughly 300 million kilowatt-hours of electricity annually — enough to power around 90,000 households — and cut carbon emissions by an estimated 240,000 tons per year compared with coal-fired generation, the company said. The project began in 2020 as a joint venture between SK Innovation E&S and Denmark-based Copenhagen Infrastructure Partners (CIP). It secured major permits in 2022, started construction in March 2023 and entered commercial operation in May 2025. Jeonnam Offshore Wind Farm 1 is the first renewable-energy project in South Korea to use non-recourse project financing, a structure that industry officials say could pave the way for greater private-sector participation in large-scale clean-energy developments. Its completion is expected to accelerate progress on an 8.2GW offshore wind complex planned near Imja Island — billed as the world’s largest — which aims for full operation by 2035. SK Innovation E&S and CIP plan to break ground on additional phases from 2027, targeting a combined 900MW capacity by 2031. “The completion of Jeonnam Offshore Wind Farm 1 is a meaningful step for the domestic offshore wind industry, contributing to carbon neutrality and strengthening regional cooperation,” said Lee Jong-soo, president of SK Innovation E&S. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 10:16:50

Seoul raises market watch after Fed rate cut SEOUL, December 11 (AJP) -South Korea’s deputy chiefs of fiscal, monetary and financial policy convened an emergency macro-financial meeting Thursday, after the U.S. Federal Open Market Committee (FOMC) delivered its third consecutive interest rate cut and signaled only limited easing ahead. The meeting — held via conference call — brought together Lee Hyoung-il, vice minister of economy and finance; Yoo Sang-dae, deputy governor of the Bank of Korea; Kwon Dae-young, vice chairman of the Financial Services Commission; and Lee Se-hoon, senior deputy governor of the Financial Supervisory Service. The officials reviewed immediate market reactions and discussed potential spillovers to Korea’s financial system. The usual post-Fed positive response was restrained. As of 10:00 a.m. Thursday, the KOSPI was up 0.6 percent to 4,161.14, while the KOSDAQ gained 0.5 percent to 939.33, extending a modest relief rally after the Fed’s decision. The won weakened 0.5 won to 1,467 per dollar, reversing earlier gains as foreign exchange volatility persisted. Officials noted that domestic stock markets remain broadly stable, but pointed to concerns over rising government bond yields and heightened swings in the foreign exchange market — vulnerabilities that could intensify under diverging global monetary conditions. The U.S. Federal Reserve on Wednesday reduced its benchmark federal funds rate by 25 basis points, bringing the upper bound to 3.75 percent, the lowest level in more than three years. The move completes three consecutive cuts since September, totaling 75 basis points of easing. Despite the latest cut, the Fed signaled caution about the path ahead. In its quarterly projections, FOMC officials penciled in just one rate cut in 2026, suggesting the central bank wants clearer evidence of easing inflation and labor market slowdown before resuming substantial policy accommodation. Fed Chair Jerome Powell said policymakers are “well positioned to wait and see how the economy evolves,” citing delayed employment and inflation data caused by the recent U.S. government shutdown. Private payroll data from ADP showed employers shed 32,000 jobs in November, underlining cooling momentum in the labor market. Global markets broadly expected the cut, but took note of the Fed’s downward revision to inflation forecasts and upward revision to growth expectations. U.S. Treasury yields fell and the dollar weakened following the announcement. Korean policymakers highlighted a growing policy divergence: while the U.S. appears set to continue gradual easing, Japan is approaching a rate hike, a rare tightening move for the Bank of Japan. This split among major central banks, they warned, could generate volatility across global asset classes, capital flows and exchange rates. Participants agreed the Korean economy is entering a phase where external shocks can transmit more quickly, requiring a reinforced monitoring regime. Vice Minister Lee emphasized the need to maintain a 24-hour joint monitoring system across fiscal, monetary and supervisory authorities. He called for “swift, coordinated responses” to any instability in financial or foreign exchange markets, underscoring Korea’s commitment to pre-emptive risk management. 2025-12-11 10:09:57

Oceans Minister offers to step down amid bribery allegations SEOUL, December 11 (AJP) - Minister of Oceans and Fisheries Chun Jae-soo resigned on Thursday, just a few days after allegations emerged that he accepted bribes from the powerful Unification Church, better known as the Moonies. The church is suspected of bribing a slew of lawmakers from both the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) to allegedly secure various favors including its long-pursued dream of constructing an underwater tunnel between South Korea and Japan. Speaking at Incheon International Airport upon his arrival from an overseas trip, Chun said, "Stepping down is the right thing to do as a public official." But Chun, one of close aides of President Lee Jae Myung, denied all the allegations, calling them "groundless," and stressed that the "government should not be shaken." "This will be clarified through investigations," he added. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 10:08:09

HD Hyundai Infracore's hydrogen engines recognized at global expo SEOUL, December 11 (AJP) - HD Hyundai Infracore’s hydrogen engines, the HX12 and HX22, were named “Best Pick” at the World Hydrogen Expo (WHE) 2025 Best Product Media Awards, the company said Thursday. The awards were decided by a panel of automotive journalists who assessed products displayed at the expo for innovation, technical competitiveness and commercialization potential. HD Hyundai Infracore’s HX12, an 11-liter hydrogen internal combustion engine for vehicles and power generation, was recognized for a second consecutive year and is scheduled for mass production next year. The newly unveiled HX22, billed as the world’s largest 22-liter hydrogen engine, features a V12 layout with a maximum output of 600 kW (816 horsepower) and continuous output of 477 kW (649 hp), a level of power the company said could cover the annual electricity needs of about 200 households. Judges cited its scalability and efficiency. The four-day WHE 2025 event drew about 25,000 visitors from 26 countries and featured 279 companies and institutions. Alongside the exhibition, the event hosted technical conferences, business matchmaking sessions and industry forums, reinforcing its role as an emerging global platform for the hydrogen economy. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 09:42:24

South Korea's Hanwha Aerospace showcases locally built K9 artillery in Egypt SEOUL, December 11 (AJP) - Hanwha Aerospace showcased its K9 self-propelled howitzers at the Egypt International Defense and Security Exhibition (EDEX 2025) in Cairo, drawing strong interest from regional visitors, the company said Thursday. The firm operated a joint exhibition space with Egypt’s Ministry of Defense, displaying the K9 howitzer alongside ground and guided weapon systems. The biennial exhibition, the largest of its kind in the Middle East and Africa, drew more than 450 companies and over 40,000 visitors. In 2022, Hanwha Aerospace secured a package export agreement with Egypt worth about 2 trillion won (approximately $1.5 billion), covering K9 self-propelled howitzers, K10 ammunition resupply vehicles and K11 command armored vehicles. At this year’s exhibition, six K9 units and associated K10 and K11 vehicles were displayed outdoors. The systems, scheduled for delivery to the Egyptian military in the first quarter of next year, are adapted for desert operations with specialized coatings and enhanced dust-protection features. Hanwha is manufacturing the K9 in Egypt with performance specifications matching systems produced in South Korea. Following delays linked to German engine supply, the company localized engine production to reduce supply-chain risk. South Korean engineers are supporting local facilities with assembly, welding and machining to stabilize production. The company plans to gradually expand local manufacturing of core components to deepen long-term industrial cooperation. Building on the K9 program, Hanwha aims to accelerate its expansion across the Middle East and North Africa defense markets. Other systems on display included the Chunmoo multiple rocket launcher, coastal defense missiles, a 40mm unmanned air defense system, L-SAM long-range surface-to-air interceptors and naval platforms, including submarines. “The Egyptian people take great pride in producing the K9 locally through technological cooperation with South Korea,” said Sung Il, head of Hanwha Aerospace’s Middle East and Africa division. “We aim to expand into broader regional markets through this partnership.” * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-11 09:24:56

Strike by unionized railway workers averted after overnight negotiations SEOUL, December 11 (AJP) - A full-scale strike by unionized railway workers in Seoul was averted early Thursday morning after a breakthrough was made during overnight negotiations between labor and management. State-run rail operator KORAIL's workers called off their planned strike after both sides tentatively agreed to further discuss key issues including bonus payments and safety measures, allowing all trains to run as scheduled. The union had demanded performance-based bonuses to be restored to 100 percent of base salary, matching other public enterprises, up from the current 80 percent. The Korean Public Service and Transport Workers' Union (KPTU), which operates Line 9 separately from Seoul Metro, which operates subway lines 1 through 8, also decided to call off its strike after reaching a deal on wages. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 09:11:57

Seoul to hold govt briefings for policy roadmap to president live SEOUL, December 11 (AJP) -South Korean President Lee Jae Myung will begin his first round of public-sector briefings starting Thursday, setting the stage for his administration’s initial policy roadmap across the economy, agriculture, labor, and data governance. Lee, who just completed his first six months in office, will receive reports from the Ministry of Economy and Finance, the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Employment and Labor, and the Data Agency, along with their affiliated institutions. The sessions will examine some of the administration’s most urgent as well as mid-term challenges: stabilizing the exchange rate and consumer prices, overhauling tax policy, expanding K-food exports, and rolling out a basic income program for rural regions. Labor and safety policy will also be a focal point. Officials are expected to outline plans to reduce industrial accidents and ensure the smooth implementation of the so-called Yellow Envelope Act, which strengthens protections for workers engaged in labor disputes. In total, the briefing process spans 228 public institutions, including 19 ministries, five offices, 18 agencies, and seven governmental committees. Meetings will be held across Sejong, Seoul, and Busan. Most sessions will be broadcast live to the public, with the exception of briefings related to diplomacy and national security. Lee has emphasized the significance of these inaugural briefings. At a recent Cabinet meeting, he instructed ministries to prepare “as if presenting a transparent national blueprint to the public, not merely reporting to the president,” underscoring his push for what he calls “national normalization” and Korea’s broader transformation agenda. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 07:30:07

OPINION: Morning 3K, Keep going My day begins with what I call a “morning 3K.” Since January, this routine has quietly reshaped my life. In summer, I rise at 5:30 a.m.; in early winter, at 6:30. As dawn breaks, I drink a glass of water and head to a nearby park. After a brief warm-up, I run three kilometers in about twenty minutes. The seasons have changed around me—spring, summer, fall, and now winter. In summer, sweat pours down, and I rinse my face with cool water. Even in late fall, I feel heat radiate from my body. After the run, I sit and listen to the world waking up. I never knew birds were so busy at dawn. This hour brings me a quiet, immense happiness. When my breath steadies, I stretch lightly to wake my joints and muscles before heading home. That single hour has become the most precious part of my day. This routine is more than just exercise. It is a ritual—a commitment to how I want to live. Before I began, I was worn down, living apart from my family, often drinking alone. As age crept in, so did loneliness and insomnia, clouding both body and mind. Choosing to move was, in many ways, choosing to live again. And the impact has been profound. The first gift was physical. Sweating in the morning stabilized my blood sugar, which had climbed from frequent drinking. My doctor confirmed the improvement, and I feel it every day. Mornings have become my clearest hours. I used to depend on coffee after lunch; now my focus holds naturally. My body sustains my mind instead of holding it back. Diet matters just as much. I don’t think, “I exercised, so I should eat less.” I eat well. My meals are simple: cabbage, cucumbers, tomatoes, and olive oil with soy sauce and vinegar. I always add eggs, tofu, or meat to maintain muscle. I don’t fear carbohydrates; I eat enough to recover. Preparing every meal myself feels like an act of self-respect. While it’s comforting when someone cooks for me, there is real satisfaction in nourishing myself with my own hands. Since starting this routine, my concentration and memory have sharpened. At sixty, it’s natural to expect decline. I certainly felt it—I was easily distracted, unable to sustain deep work. But after raising my heart rate each morning, I process daily stimuli more calmly. As a researcher, I spend hours analyzing complex data. Afternoons once felt impossible; now I focus longer and think more clearly. My writing comes faster, and information stays with me. Sometimes I regret not beginning sooner, but I remind myself: change is always possible, no matter the age. Sleep, too, becomes fragile as we grow older. I struggled to fall asleep and stay asleep. Since I began these morning routines, my nights have softened. By 10 p.m., I’m naturally sleepy, often dozing off while reading or watching TV. It’s not perfect, but it’s worlds better. Good sleep fuels my mornings, and good mornings strengthen my days. A gentle, sustainable cycle. In January, I added bodyweight exercises. I set simple daily goals: three sets of ten pull-ups, three sets of twenty push-ups, ten minutes (or one hundred reps) of squats, and three sets of one hundred calf raises. The key is consistency. I once thought daily exercise was unrealistic, but one habit changed everything: recording. Each day, I jot down what I did in a small notebook—not a sleek app. Seeing the pages fill up pushes me forward. For anyone struggling to maintain a routine, I recommend this humble tool. A small notebook can be a powerful companion. This morning, I ran another three kilometers. How long can I continue? Each day, I renew the promise to sustain this rhythm for life. Someday, I may slow down or shift to walking, but that doesn’t matter. What matters is the will to care for myself. Waking up and moving toward a healthier day is something I never want to lose. And each time I stand before the pull-up bar, I tell myself the same simple words: Keep going. Author's Background ▷Seoul National University, Economics ▷Hitotsubashi University, Ph.D. in Economics ▷Former Vice President, Korea Institute for International Economic Policy * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-11 07:22:47

SM warns of legal action vs online harassment of Winter after rumor with Jungkook SEOUL, December 10 (AJP) -SM Entertainment has issued a sharp warning over what it calls a surge of malicious online posts targeting aespa member Winter, the South Korean agency threatening to expand legal action against defamation, sexual harassment and fabricated rumors circulating after recent dating speculation involving BTS member Jungkook. In a statement released Wednesday, the agency said it was “fully aware of the seriousness” of the growing wave of harmful content — including sexual remarks, personal attacks, privacy breaches and deepfake materials. SM said it has been monitoring major online communities and social media platforms, where it identified “a large volume of malicious posts and comments” aimed at the singer. The company said it has already begun filing both criminal complaints and civil claims against individuals who created or spread such content, and will submit additional complaints as it reviews further evidence. The agency added that it has secured a substantial amount of data through ongoing monitoring and tip-offs, stressing that it will respond “without leniency.” The girl band star found herself in the hot seat amid swirling rumors linking her to BTS's JungKook. Claims that the two shared couple-style tattoos, nail designs and similar fashion items spread quickly across Korean social media, fueling speculation among fans. Until the defamation claim, neither SM Entertainment nor HYBE, Jungkook’s agency, has addressed the claims, a silence that has only stirred further curiosity among online users. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-10 17:48:22

Mystery thriller debuts at No. 2 on Netflix's non-English chart SEOUL, December 10 (AJP) - Netflix's latest South Korean series "The Price of Confession" ranked to No. 2 on the American streaming giant's chart for non-English-language shows, immediately after its release last week. Since its release on Dec. 5, the 12-episode series has racked up 2.2 million views as of Wednesday. It also made the top 10 lists in nine countries including Indonesia, Singapore and Thailand. The mystery thriller starring actresses Jeon Do-yeon and Kim Go-eun revolves around a woman accused of murdering her husband and another mysterious woman, as secrets and confessions and secrets unfold in a gripping pursuit of truth. Meanwhile, rom-com "Dynamite Kiss" starring Jang Ki-yong and Ahn Eun-jin topped the chart with 4.8 million views. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-10 17:23:20