Police raid e-commerce giant Coupang's Seoul offices in data breach probe SEOUL, December 09 (AJP) - Implying full-scale government scrutiny, South Korean police on Tuesday raided Coupang’s Seoul offices over the massive data breach that exposed the personal information of an estimated 33.7 million accounts. The Seoul Metropolitan Police Agency’s Cyber Investigation Division began the search-and-seizure at around 11 a.m. at Coupang’s offices in Songpa-gu. A 17-member investigative team, led by a superintendent-level chief, was deployed to confiscate internal documents and server logs believed to be linked to the breach. The move suggests authorities are examining potential security negligence by the e-commerce giant. Police officials said the seizure was necessary to determine the full scope of the incident and track how the breach unfolded. Legal and public pressure on Coupang has mounted as consumer confidence deteriorates rapidly. Data from IGAWorks MobileIndex shows that Coupang’s daily active user count has dropped by more than 2.04 million since the company disclosed the breach, sliding into the mid-15-million range as of December 6. Analysts note that many users appear to have left the platform after checking whether their accounts were affected. The investigation, which began after Coupang filed an initial report on November 18, is increasingly centered on a former Chinese employee identified by the company as the primary suspect. Police, however, emphasize that the inquiry remains wide-ranging and that conclusions will depend on digital forensics and internal record analysis. Given the scale of Coupang’s systems, the raid is expected to continue beyond a single day to process the extensive volume of data. Authorities said no secondary crimes, such as phishing attempts or home break-ins, have been confirmed so far using the exposed information. The forced judicial intervention underscores the severity of the governance lapses facing South Korea’s dominant online retailer, as investigators probe not only the breach itself but the safeguards that failed to prevent it. 2025-12-09 14:11:52

Record M2 fuels weak won structure, binds policy for Seoul authorities SEOUL, December 09 (AJP) - South Korea's broad money supply has ballooned to levels last seen during the pandemic stimulus peak, and the liquidity glut is weighing heavily on the won while narrowing policy maneuvering room for authorities. M2 money supply, which includes bonds, time and savings deposits, and equity-type deposits, grew 8.5 percent to a record 4,430.5 trillion won ($3.01 trillion) as of September, Bank of Korea (BOK) data showed. The growth far outpaces Korea’s sub-1 percent economic growth and is the steepest since November 2021, when fiscal and monetary stimulus was deployed at full scale to fight the pandemic recession. Twin fiscal and monetary easing, asset inflation driven by hectic stock and housing purchases, and a widening current-account surplus all contributed to the extraordinary liquidity build-up. Korea’s current-account surplus from January to October reached 89.58 billion dollars, the highest ever for the period and on track for an annual record of 115 billion dollars. The supplemental spending package approved in June added further liquidity, including 13.9 trillion won in consumption coupons across two rounds, according to the Korea Development Institute. Korea’s M2 also counts Exchange Traded Funds (ETFs), unlike other countries. ETF balances swelled alongside the near 70-percent rally in the KOSPI so far this year. Even excluding ETFs, M2 growth stands at 6.3 percent, still sharply above the U.S.’s 4.6 percent and more than three times Japan’s 1.8 percent. BOK Governor Rhee Chang-yong acknowledged in a November rate briefing that “looking at the money flowing into the stock market, foreign exchange market, and real estate currently, it is true that a lot of liquidity has been released.” The classic rule of thumb is that too much money supply dilutes currency value. Experts argue the imbalance reflects policy failures, as radical stimulus inflated asset prices more than it strengthened the underlying economy. Former Financial Services Commission Chairman Kim Seok-dong pointed to the world’s highest level of household debt as the structural outcome of this misalignment. Without remedying household leverage, which restricts both upward and downward policy flexibility, he said, the weak-won structure cannot be resolved. Household loans reached an all-time high of 1,845 trillion won as of September. The household debt-to-GDP ratio stood at 89.7 percent in the second quarter, the second-highest globally. Mortgage loans accounted for 1,159.6 trillion won, more than 60 percent of total household loans, underscoring persistent demand for housing. The stock boom added to the pressure: margin loan financing jumped to 27 trillion won as of December 5, up 68.5 percent from six months earlier, according to the Korea Financial Investment Association. Analysts warn that the rapid monetary expansion risks stoking inflation and strengthening the debt cycle, further undermining the currency. The won has hovered around 1,470 per dollar for about a month, roughly 8 percent weaker than in June. Prolonged fixation in the upper 1,400 range, or a move toward 1,500, would raise concern for an economy dependent on imported energy and materials. Inflation has remained above 2 percent for three consecutive months, rising 2.4 percent in October from a year earlier. Fuel prices have also jumped. The average gasoline price in Seoul reached 1,807 won per liter on December 7, up more than 80 won from early October, according to KNOC’s Opinet. Under textbook conditions, defending the currency would require raising the policy rate. But the BOK faces a bind: growth is crawling, prices remain elevated, and household leverage makes additional tightening risky. As pressure builds, excess domestic liquidity has begun to escape through foreign exchange markets. Korean nationals’ overseas stock purchases surged to 18 billion dollars in October, more than double September’s 8.5 billion and six times the 2.93 billion dollars foreign investors deployed into Korean stocks. Institutional outflows add structural pressure. The National Pension Service allocates 37.3 percent of its assets to overseas equities and 58 percent when including bonds and alternatives, creating chronic demand for foreign currency. Authorities warn that textbook metrics alone will not calm the market. KB Kookmin Bank economist Lee Min-hyuk noted that Korea’s ratio of short-term foreign debt to foreign reserves is 38.3 percent, far below the 286 percent recorded at the height of the 1997 crisis. But he cautioned that leaving the weak-won structure unattended risks unnecessary FX market spending and, eventually, erosion of foreign confidence. 2025-12-09 14:02:15

South Korea's single-person households top 8 million for first time SEOUL, December 09 (AJP) - The number of single-person households in South Korea surpassed 8 million for the first time last year, with people aged 70 and older accounting for the largest share, according to government data released on Tuesday. A report by the National Data Agency showed the country recorded 8.045 million one-person households, representing 36.1 percent of all households. The proportion has risen steadily since 2019. People aged 70 and above accounted for 19.8 percent of single-person households, overtaking those under 29, who made up 19.2 percent. The gap widened to 2 percentage points from 0.5 percentage points the previous year. Among elderly households living alone, women accounted for a significantly larger share. About 1.165 million women aged 70 and older lived alone, compared with 425,000 men. The agency said higher life expectancy among women was a key factor behind the gap. Regionally, nearly 40 percent of single-person households were concentrated in the Seoul metropolitan area. Gyeonggi Province recorded the largest number at 1.775 million, followed by Seoul with 1.661 million. Busan and South Gyeongsang Province reported 548,000 and 502,000 households, respectively. Seoul recorded the highest proportion of single-person households at 39.9 percent. Average annual income for single-person households stood at 34.23 million won, up 6.2 percent from a year earlier, while average monthly spending was 1.689 million won, or 58.4 percent of spending by multi-person households. Their average assets were valued at 223.02 million won, equivalent to 39.3 percent of the national household average. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-09 13:55:36

BTS' Jungkook makes cover of Rolling Stone magazine SEOUL, December 9 (AJP) - Jungkook, a member of K-pop juggernaut BTS, has been featured on the cover of monthly magazine Rolling Stone. Jungkook became the first South Korean artist to appear on the cover of the British edition of the influential music industry trade magazine, with online versions also featuring him in China, France, India, the Philippines and the U.S. "This is a time where I can evaluate whether I can take another leap forward," he told the magazine. "Rather than doing the same kind of performances or similar songs repeatedly, I'm trying new things and continuing to evolve so I can show different sides of myself." He added, "I want to be an artist who doesn't get dragged by the flow, but creates the flow." Recently, his solo tracks surpassed a combined total of 10 billion streams on Spotify as of the end of November, making him the first K-pop solo artist to reach the milestone. His single "Seven" has also accumulated 2.6 billion streams since its release in July 2023. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-09 13:49:30

PHOTOS: South Korean Navy launches new high-speed patrol vessels SEOUL, December 09 (AJP) -The Republic of Korea Navy and the Defense Acquisition Program Administration (DAPA) held an integrated launching ceremony on December 8, 2025, for four new high-speed patrol vessels (Patrol Killer Medium, Rocket – PKMR Batch-II). These vessels, named Chamsuri-231, 232, 233, and 235, represent a significant upgrade to South Korea's naval capabilities, designed to bolster coastal defense and rapidly respond to maritime threats. 2025-12-09 13:41:38

Asian markets remain reserved in FOMC week SEOUL, December 09 (AJP) - Asian equity markets remained cautious ahead of the Federal Reserve’s Federal Open Market Committee (FOMC) meeting this week, with investors bracing for any signal that may accompany the widely expected interest-rate cut. Despite Seoul’s show of resolve — underscored most recently by a rare meeting between the prime minister and the Bank of Korea governor — the dollar ended its brief decline and turned upward, gaining 1.4 won to 1,470.90 won per dollar. South Korea’s KOSPI is trading 0.6 percent lower at 4,128.6 as of 10 a.m. Foreign investors are selling 183.9 billion won versus retail investors’ net buying of 117.7 billion won and institutional buying of 51.3 billion won. Blue-chip names are under pressure. Samsung Electronics is down 0.65 percent at 108,800 won, a relatively mild decline thanks to rising prices in legacy semiconductors, particularly conventional DRAMs. SK hynix, more exposed to external sentiment given its concentration in high-value chips such as HBM, is trading 2.25 percent lower at 564,000 won. LG Energy Solution, which jumped the previous day after securing a 2 trillion won electric-vehicle battery deal, is 2 percent lower at 442,000 won. Rival Samsung SDI is down 1.59 percent at 309,000 won. Among the day’s gainers is HD Hyundai Heavy Industries, rising 6.45 percent to 579,000 won, buoyed by news of its planned shipyard project in India’s Tamil Nadu region and expectations that it could gain an edge in the Korea Destroyer Next-Generation (KDDX) program. Japan’s Nikkei 225 is little changed at 50,532.07, stabilizing as U.S. semiconductor stocks rose overnight. Nvidia partner Ibiden is 3.4 percent higher at 13,175 yen (84.51 dollars), while Tokyo Electron is up 1.36 percent at 33,700 yen. But the yen carry-trade pressure persists: Mitsubishi Estate is down 2.4 percent at 3,728 yen, and Tokyu Fudosan Holdings is down 2.45 percent at 1,416 yen. Taiwan’s TAIEX is 0.3 percent lower at 28,210. TSMC is down 0.3 percent at 1,490 Taiwan dollars (47.75 dollars) on profit-taking, and MediaTek is 0.35 percent lower at 1,435 Taiwan dollars. On the mainland, the Shanghai Composite Index is steady at 3,920, while the Shenzhen Component is 0.3 percent lower at 13,291. Hong Kong’s Hang Seng Index is trading 0.2 percent lower at 25,702. 2025-12-09 11:32:42

Latest song by SM founder's rookie girl band makes US radio chart SEOUL, December 9 (AJP) -Multinational girl band A20 MAY's latest song has been included in this week's top 40 chart compiled by U.S. Mediabase. Their song "PAPARAZZI ARRIVE" reached No. 39 on the chart released on Sunday, which is calculated based on the most played songs on radio stations in North America. The quintet with Mandarin-speaking and Chinese-American members, groomed by Lee Soo-man, the founder of SM Entertainment who later left his namesake company amid allegations including tax evasion and unfair business practices, have already made multiple entries on the chart with their debut single "Under My Skin" in April and their follow-up song "BOSS" in June and July. The girls are set to perform at iHeartRadio Z100's annual holiday concert Jingle Ball in New York slated for Dec. 12, along with big names like Ed Sheeran, MONSTA X, and Nelly. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-09 11:06:55

South Korea's MegazoneCloud expands US push amid AI, cloud services boom SEOUL, December 09 (AJP) - South Korea’s MegazoneCloud is accelerating its expansion in the United States, targeting $300 million in revenue next year as demand for artificial intelligence and cloud migration continues to rise. The company said it will deepen cooperation with Amazon Web Services (AWS) and expand its U.S. workforce and sales network to drive growth. U.S. revenue stood at $29 million last year. The expansion plan was unveiled at the annual AWS re:Invent conference in Las Vegas on Dec. 3. Chief Executive Officer Yeom Dong-hoon, newly appointed U.S. Chief Revenue Officer John Providence and Chief Technology Officer Scott Weber outlined plans to scale operations in major markets including New York, California and Texas. MegazoneCloud said its strategy centers on a close alliance with AWS. Yeom said his experience leading AWS’s global partner organization would help the company expand strategic partnerships and address gaps in AWS’s professional services capability. “We will fill demand that AWS cannot meet directly due to resource constraints,” Yeom said. The company plans to move beyond cloud infrastructure management into higher-value services such as generative AI, data modernization and quantum computing. It currently operates an in-house AI platform, “Air Studio,” and a security brand, “Halo." Initial target industries include automotive, manufacturing and financial services. The company said it plans to expand from its existing work with Hyundai Motor America to broader automotive supply chains and pursue large-scale projects with U.S. clients, including the PGA Tour. To improve efficiency, MegazoneCloud said it will establish a 24-hour operating model by integrating engineers in South Korea and Vietnam with U.S.-based teams, using time-zone differences to provide continuous development and support. Despite perceptions that the U.S. market is mature, Yeom said substantial growth opportunities remain. “We aim to deliver meaningful results in the U.S. by applying proven strategies from Korea and Vietnam,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-09 10:54:04

South Korean PM meets BOK chief amid KRW concerns SEOUL, December 09 (AJP) - South Korean Prime Minister Kim Min-seok and Bank of Korea Governor Rhee Chang-yong held an unusual closed-door meeting early Tuesday, signaling the government’s reinforced determination to arrest the prolonged weakness of the Korean won that is rippling through every corner of Asia’s fourth-largest economy — from inflation and purchasing power to investment sentiment and long-term growth potential. The meeting, held at the government complex in Seoul, was notable in itself. The central bank governor typically meets monthly with the finance minister and the Financial Services Commission chair; direct consultations with the prime minister are rare. Kim said “uncertainties remain despite back-to-back gains in GDP growth and an improvement in consumer sentiment,” pledging that the administration would “solidify the economic recovery and extend it to stabilizing people’s livelihoods.” He highlighted government efforts to ease food-price burdens, revitalize regional economies, and expand growth potential through artificial intelligence and innovation. Rhee said the Bank of Korea will continue research on structural reforms to strengthen long-term growth potential while maintaining close communication and cooperation with the government as foreign-exchange volatility persists. The meeting comes as the finance ministry prepares a sweeping package of measures — including tax incentives to increase dollar supply, expanded hedging tools for pension funds, and new liquidity-support mechanisms — to counter what policymakers increasingly see as a currency-driven threat to macro stability. The Korean won has hovered around 1,470–1,480 won per dollar for nearly a month. Separately, the government continues to operate a four-party FX consultative body — bringing together the finance ministry, the Bank of Korea, the National Pension Service and the welfare ministry — to coordinate market-smoothing efforts and prevent disorderly swings in the won. The dollar rose 0.50 won to 1,470 won as of 10:25 a.m. in Seoul Tuesday. The article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-09 10:23:36

K-leggings stretch across Asia as XEXYMIX, Andar accelerate regional expansion SEOUL, December 09 (AJP) - South Korean athleisure brands known for form-fitting designs tailored to Asian body types are gaining strong traction across Southeast Asia, riding the broader “K-everything” wave sweeping the region. XEXYMIX, led by Chief Executive Lee Soo-yeon, said Tuesday it recently wrapped up a three-day pop-up in Jakarta — a key step in deepening its presence in Indonesia, one of Southeast Asia’s fastest-growing fitness and wellness markets. The “XEXYMIX in the City” event, held Dec. 5–7 at About Us Brasserie, blended retail with experiential marketing, offering pilates sessions, wellness programs and collaborations with local studios including Gaon Pilates Studio. Indonesian influencers such as Namira Adzani and Jessy Kusno helped amplify the brand’s visibility, drawing both fitness enthusiasts and new customers. Industry analysts say Korean athleisure’s regional appeal stems from its meticulous, fit-driven approach — a contrast with many Western labels whose sizing and proportions often miss the mark for Asian consumers. “U.S. brands often struggle with sizing for Asian women,” said Ellen Suh, a Seoul-based consumer in her 40s. “XEXYMIX fits me the best. With a smaller lower body, I can barely find the right size in U.S. brands. Korean leggings are designed for Asian physiques, offer more size options, and pay close attention to areas like the waistline, belly pooch and lower body parts, making them more comfortable and less revealing.” XEXYMIX has been widening its Asian footprint through fitness-led partnerships and sporting events, including Indonesia’s Sundays Fest yoga event, the XEXY Braid Tennis Tournament and sponsorship of Garmin Run Indonesia. The brand already operates in Japan, Taiwan and China, and plans to enter additional Southeast Asian markets such as Thailand and the Philippines. Rival athleisure brand Andar is pursuing a similar strategy. After establishing footholds in Japan and the United States, Andar has been expanding across Asia, betting on rising demand for premium leggings that combine compression, stretch and everyday wearability. XEXYMIX said the Jakarta pop-up not only heightened brand awareness but also provided valuable insight into local preferences. “This project allowed us to engage directly with both current and potential customers,” a company spokesperson said. “We will continue to strengthen our presence by working closely with local partners and expanding our omnichannel strategy.” 2025-12-09 10:19:53