S. Korea's top startup festival COMEUP 2025 opens in Seoul attracting global startups and investors SEOUL, December 10 (AJP) - COMEUP 2025, South Korea's largest annual startup festival, opened Wednesday at COEX in Seoul, drawing hundreds of founders, investors, and corporate leaders from around the world for three days of conferences, exhibitions, and business matching sessions. The event, held from December 10 to December 12, features startups from 46 countries and more than 270 companies presenting products and technologies across deep tech, AI, climate technology, gaming, mobile services and other sectors. Seven countries, including Saudi Arabia and India, have set up national pavilions to highlight their startup ecosystems. Scores of attendees gathered in the hall for the opening ceremony, which marked the beginning of this year’s program under the slogan "Recode the Future." Minister of SMEs and Startups Han Seong-sook welcomed participants and emphasized the importance of collaboration across the ecosystem. She noted that 2025 marks the 30th anniversary of Korea’s Venture Business Association and the twentieth year of the government’s "growth ladder" fund. "Innovation cannot be completed alone," Han said, stressing that "startups, investors, global firms, and Korea’s major companies must work together for our startup ecosystem to grow and create new opportunities." Before the ceremony, Han met with Tareq Amin, CEO of HUMAIN, Saudi Arabia’s state-backed AI company established this year by the Public Investment Fund. The two discussed cooperation opportunities in AI and deep tech, as HUMAIN considers setting up a Korean branch and expands its engagement with Korean startups. Amin delivered a keynote speech outlining the rising importance of AI and digital infrastructure in shaping global industries. Rebellions CEO Park Sung-hyun, returning as a keynote speaker for the second year, shared insights from Korea’s semiconductor and deep-tech sectors and reflected on the evolving nature of entrepreneurial innovation. Over the next three days, COMEUP 2025 will host sessions on AI, climate solutions, mobile ecosystems, youth entrepreneurship, and founder culture. According to the Korea Startup Forum, the event organizer, more than 2,000 business meetings are expected, with venture capital firms, corporate venture capital teams, and accelerators participating. 35 global, large, and mid-sized companies are also taking part through booths and special programs designed to facilitate open innovation. 2025-12-10 15:00:41

Korea's job strength mostly led by temp hires in services, youth jobless deepens SEOUL, December 10 (AJP) - South Korea’s labor market continued to show an increasingly asymmetric pattern in November, with headline employment gains masking a deepening slump among young adults and a widening pool of NEET (not in education, employment or training) youth. The number of people on payroll reached 29.05 million, up 225,000 from a year earlier, yet employment among those aged 15 to 29 fell by 177,000 over the same period, according to the Ministry of Data and Statistics on Wednesday. The youth employment rate dropped 1.2 percentage points to 44.3 percent, extending its decline to a 19th consecutive month. Overall, job conditions improved modestly for older cohorts: employment rose 0.2 percentage point to 80.9 percent for those aged 30–39, 1.2 percentage points to 80.7 percent for those 40–49, and 0.5 percentage point to 78 percent for those 50–59. Youth unemployment deteriorated, climbing 0.2 percentage point month-on-month to 5.5 percent, more than double the national jobless rate of 2.2 percent. The divergence from older workers widened, as unemployment continued to fall among those aged 50 and above. The “idled” population — who voluntarily dropped out of the labor force despite being physically able — further underscored the strain on the young. People aged 15–29 accounted for 16.3 percent in the idled group, second to the retired age of 60 and older who made up 45.1 percent. Those who gave up job hunt after futile job search numbered 353,000, up 18,000. Employers cite a prolonged domestic slump across manufacturing, construction, and agriculture. Construction posted the sharpest decline, shedding 131,000 workers from a year ago, reflecting a deep downturn spanning housing, civil engineering, and infrastructure. Manufacturers cut 41,000 jobs — the smallest drop since October 2024 but still indicative of weak industrial momentum. Agriculture, forestry and fisheries lost 132,000 workers, or 8.6 percent, as employers increasingly turn to foreign labor to offset Korea’s high minimum wage. Most of November’s job gains came from the services sector, heavily reliant on temporary and irregular hires. Employment in healthcare and welfare services rose 281,000, or 9.3 percent, buoyed by demographic-driven demand. Jobs in arts, sports, and leisure increased by 61,000, reflecting a rebound in consumer-facing spending even as the broader economy slows. 2025-12-10 14:58:16

Park Chan-wook's film picks up more nominations at US awards SEOUL, December 10 (AJP) - Director Park Chan-wook's latest film "No Other Choice" has been nominated for the annual Critics Choice Awards to be presented early next month. Park's 12th feature, adapted from American writer Donald E. Westlake's novel "The Ax," earned two nominations for "Best Adapted Screenplay" and "Best Foreign Language Film." The 139-minute thriller revolves around a man who believes he has achieved everything in life until he is suddenly laid off and must find a new job to support his family. With the year-end awards season just beginning, the film also secured four Golden Globe nominations earlier this week, along with "Bugonia," a Hollywood remake of the 2003 South Korean film "Save the Green Planet!" The 31st Critics Choice Awards, which honor achievements in cinema and television, are scheduled to be held in Santa Monica, California on Jan. 4. 2025-12-10 14:46:29

SK Gas, POSCO form alliance to lead push for hydrogen ecosystem SEOUL, December 10 (AJP) - SK Gas and POSCO Holdings have launched a new industry alliance aimed at building a domestic blue hydrogen ecosystem in South Korea, as companies and public institutions move to accelerate the transition to lower-carbon energy. The “K-Blue Hydrogen Alliance” was inaugurated on Wednesday at the POSCO Center in Seoul, bringing together 15 organizations including SK Ecoengineering, POSCO, the Korea Agency for Infrastructure Technology Advancement, the Korea Institute of Industrial Technology and Korea Gas Corporation. The alliance seeks to commercialize blue hydrogen technologies and establish a Korean industrial ecosystem, as blue hydrogen — produced from natural gas with carbon capture — gains traction as a lower-emissions alternative in hard-to-abate sectors. The initiative follows an August forum hosted by the partners to discuss the role and scalability of blue hydrogen with academic and industry experts. The alliance will serve as a platform for joint research, policy coordination and industry collaboration. Under the agreement, members will focus on advancing hydrogen production technologies, carrying out demonstration projects and developing business models, while laying the foundations for a domestic industrial base. From next year, the alliance plans to conduct detailed technical and market studies, hold regular working-level meetings and finalize strategic cooperation frameworks among participants. “The launch of this alliance marks a new milestone for Korea’s hydrogen industry,” said Kim Chul-jin, vice president of SK Gas, adding that the group would work to build a comprehensive domestic blue hydrogen ecosystem. Kim Ki-soo, chief technology officer of POSCO Holdings, said the alliance would focus on delivering practical and verifiable results to support the country’s industrial energy transition. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-10 14:20:56

Busan subway to ban e-scooters, high-capacity lithium batteries over fire risk SEOUL, December 10 (AJP) - Busan plans to ban personal mobility devices and large-capacity backup batteries equipped with high-capacity lithium batteries from its subway system, citing growing fire safety concerns. The Busan Transportation Corporation said on Wednesday it is revising its passenger transport regulations to introduce the ban. The restrictions will apply to personal mobility devices that use lithium batteries and to backup batteries with capacities exceeding 160 watt-hours, roughly four times the size of typical portable power banks. Mobility aids used by people with disabilities will be exempt. The move follows a series of fires and smoke incidents linked to lithium batteries on urban rail systems. In September, the Ministry of Land, Infrastructure and Transport urged operators to minimize the carriage of devices with large lithium batteries, prompting other cities, including Seoul, to consider similar measures. Busan Transportation Corporation said internal reviews have been completed and that the rules could take effect as early as next month, subject to approval by its board and authorization by the city government. Once implemented, station staff will be authorized to prevent passengers from boarding or to ask them to disembark if they are found carrying restricted devices. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-12-10 14:02:39

Samsung SDI secures $1.36 billion U.S. deal, marking foray into LFP battery market SEOUL, December 10 (AJP) - Samsung SDI announced Wednesday its U.S. subsidiary has clinched a deal worth more than 2 trillion won ($1.36 billion) to supply lithium iron phosphate (LFP) batteries to an American energy infrastructure company, Samsung SDI America signed the multi-year contract with an undisclosed U.S. energy infrastructure developer and operator to supply LFP batteries for energy storage systems over three years starting in 2027. The deal represents about 15 percent of Samsung SDI's projected annual revenue of 13 trillion won. The batteries will be produced at Samsung SDI's Indiana plant, a joint venture with Stellantis that began operations in December 2024. The company said it is converting some electric vehicle battery production lines to ESS manufacturing in response to shifting market demand. The LFP cells will be installed in Samsung Battery Box 2.0, a 20-foot container integrating batteries with fire safety systems. "This large-scale, long-term ESS contract for LFP batteries is significant as it has enabled the company to secure a new market," a Samsung SDI spokesperson said. "We plan to expand supplies of ESS products with strong fire safety, performance and price competitiveness to global customers." The firm added that it is in talks with multiple global customers over additional LFP and nickel-cobalt-aluminum battery deals. U.S. demand for energy storage systems is projected to more than double to 142 gigawatt-hours in 2030 from 59 GWh this year, according to market research firm SNE Research, with growing preference for LFP chemistry due to its cost efficiency and safety. The deal comes two days after LG Energy Solution announced its contract with Mercedes-Benz to supply what industry analysts widely believe to be LFP cells, positioning the Korean battery makers to capitalize on American and U.S. efforts to reduce reliance on Chinese battery suppliers. 2025-12-10 13:51:24

ChatGPT unrivalled 2025 app winner in Korea SEOUL, December 10 (AJP) - OpenAI's generative artificial intelligence ChatGPT was the standout app winner in South Korea this year, expanding user base nearly threefold between January and November, according to analytics firm WiseApp/Retail Wednesday. The AI assistance recorded a 196.6-percent surge in users from January to November, far outpacing growth across Korea's most competitive sectors from ecommerce to beauty and fintech. Other fast risers included bargain-shopping app Daiso Mall, which grew 31.9 percent, followed by beauty retailer Olive Young at 30.8 percent and Samsung’s financial management app Monimo at 28.1 percent. Ecommerce platform Gmarket increased 26.5 percent, fashion mall Musinsa 21.1 percent, TikTok Lite 18.5 percent, KakaoPay 17.7 percent, TikTok 14.6 percent, and Naver Pay 14.4 percent. In monthly active users, ChatGPT also dominated. The app averaged 16.72 million users over the past 11 months — nearly double the next-largest platform measured. KakaoPay followed with 9.13 million monthly users, trailed by Olive Young at 8.59 million, TikTok at 7.94 million, Musinsa at 7.44 million, Gmarket at 6.64 million, Monimo at 6.04 million, Naver Pay at 5.42 million, TikTok Lite at 4.74 million, and Daiso Mall at 4.05 million. WiseApp/Retail’s survey is based on a sample of Android and iOS smartphone users in Korea and reflects a year in which AI tools broke decisively into mainstream consumer behavior, overtaking longstanding leaders across retail, payment, and entertainment categories. 2025-12-10 13:32:04

Asian markets continue to hold breadth until Fed chair speaks SEOUL, December 10 (AJP) - Asian markets moved cautiously on Wednesday as investors held their breadth ahead of the U.S. Federal Open Market Committee decision, due at 6 a.m. Thursday Korean Standard Time, leaving the region in a subdued holding pattern for clues on next year’s rate path. The Korean won was steady at 1,469 per dollar as of 10:50 a.m., with traders perplexed by speculation that the National Pension Service may issue foreign currency–denominated bonds as part of a won–dollar hedging strategy. The KOSPI slipped 0.2 percent to 4,135 in a classic wait-and-see stance ahead of the Fed. Foreign investors were net buyers of 48.8 billion won ($33.2 million), while retail investors sold 46.5 billion won and institutions offloaded 9.2 billion won. SK hynix climbed 2.3 percent to 580,000 won after reports it may pursue an American Depositary Receipt listing using its treasury shares, while Samsung Electronics moved the other way, falling 0.65 percent to 107,700 won as foreign-led profit-taking weighed on the stock. Battery names also rallied. Samsung SDI rose 2.9 percent to 319,000 won after securing a 2 trillion won contract to supply lithium iron phosphate (LFP) batteries for energy storage systems to a U.S. energy infrastructure company. Entertainment stocks saw a rare lift, with HYBE up 5 percent at 306,000 won on expectations of full-group BTS activity in 2026. Hyundai Motor Group shares were mostly weak. Hyundai Motor lost 2.3 percent to 300,000 won, and Hyundai AutoEver slipped 1.3 percent to 297,500 won. The tech-heavy KOSDAQ traded sideways near 932, with retail investors net buying 143 billion won, while foreigners sold 64 billion won and institutions 48 billion won. Japan’s Nikkei 225 was flat at 50,690 as investors likewise avoided directional bets before the FOMC outcome. A rotation into defensive consumer names lifted automakers: Toyota gained 1.8 percent to 3,120 yen ($19.9) on strong North American hybrid sales, while Honda surged 4.3 percent to 1,590 yen. Semiconductor stocks were softer, with Advantest down 0.75 percent at 20,105 yen, Tokyo Electron 0.2 percent lower at 33,520 yen, and Ibiden and Kioxia each down 0.45 percent. Taiwan’s TAIEX edged 0.5 percent higher to 28,315, supported by modest gains in semiconductor bellwethers. TSMC rose 0.7 percent to 1,490 Taiwan dollars ($47.8), while MediaTek advanced 0.7 percent to 1,430 Taiwan dollars. Across the Strait, Chinese equities opened lower after CPI data released just before the bell came in far below expectations, renewing concerns about persistent disinflation. The Shanghai Composite fell 0.55 percent to 3,888, slipping below the 3,900 threshold. The Shenzhen Component dropped 0.75 percent to 13,171, and Hong Kong’s Hang Seng Index declined 0.6 percent to 25,285. 2025-12-10 11:37:33

60s movie star Kim Ji-mee dies in US SEOUL, December 10 (AJP) - Veteran actress Kim Ji-mee, one of the biggest stars of South Korean cinema in the 1960s and 1970s, died of age-related complications in the U.S., film industry sources said Wednesday. She was 85. Born in 1940 in South Chungcheong Province, the prolific actress appeared in around 700 films since making her screen debut in director Kim Ki-young's 1957 film "Twilight Train," with her career spanning from the 1950s through the 1990s. Her personal life was as dramatic as her on-screen roles, with multiple high-profile marriages and divorces to prominent figures and top stars that often drew comparisons to Hollywood star Elizabeth Taylor. At the age of 18 in 1958, she married film director Hong Seong-gi, who was 16 years her senior, but the couple divorced in 1962. Later that year, she made headlines when she was arrested on adultery charges involving actor Choi Mu-ryong. She remarried him the following year, but their scandalous marriage also ended in 1969. She later lived with then-popular singer Na Hoon-a from 1976 to 1982, before marrying a doctor in 1991 in her fourth and final marriage, which also ended some 11 years later. After retiring from acting in the late 2000s, Kim moved to the U.S., settling near Los Angeles, California. Details about her funeral service have not been disclosed, but the Federation of Korean Filmmakers here said it will hold a memorial service in Seoul, honoring her legacy and cinematic achievements in South Korean film history. 2025-12-10 11:31:06

Peru to buy South Korea's K2 battle tanks, armored vehicles in $1.5 billion deal SEOUL, December 10 (AJP) - Peru has agreed to purchase South Korea’s domestically developed K2 main battle tanks, becoming the first Latin American country to acquire the platform, South Korea’s presidential office said on Wednesday. The contract, valued at about 2 trillion won ($1.5 billion), covers the supply of 54 K2 tanks and 141 armored vehicles, for a total of 195 units, and represents South Korea’s largest-ever defense export to Latin America. If implemented, the deal would mark the first deployment of K2 tanks in the Latin American region. President Lee Jae Myung welcomed the signing, saying it would significantly strengthen defense cooperation between the two countries and emphasizing the importance of building a mutually beneficial defense partnership. The signing ceremony was held in Peru on Sunday afternoon local time and was presided over by Peru’s President Jose Harry. Lee Yong-chul, head of South Korea’s Defense Acquisition Program Administration, attended the event on behalf of the Korean government. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-10 11:24:51