Samsung's double-folding smartphone raises stakes in global foldable phone race SEOUL, December 03 (AJP) - Samsung Electronics has unveiled the Galaxy Z TriFold, the company’s first smartphone capable of folding twice, marking its most ambitious entry yet in the fast-evolving foldables segment. The device was officially launched at a media event in Seoul on Tuesday, after being previewed at the APEC CEO Summit in October. “The Galaxy Z TriFold represents the evolution of our smartphone design and engineering capabilities since our first foldable phone in 2019,” said Lim Sung-taek, vice president at Samsung Electronics. The handset adopts an “in-folding” mechanism that allows both sides of the display to fold inward. The screen measures 6.5 inches when closed and expands to 10 inches when fully unfolded, effectively functioning as a compact tablet. It is equipped with Qualcomm’s Snapdragon 8 Elite processor and a 200-megapixel wide-angle camera aimed at boosting productivity from shooting to editing. Samsung priced the 512GB model at 3.59 million won ($2,500), making it more expensive than Apple’s iPhone 17 Pro Max 2TB, which retails for 3.19 million won. The launch comes as Samsung looks to strengthen its position in the global foldable smartphone market. The company held a 9 percent share in the second quarter, ranking third behind Huawei’s 45 percent, according to Counterpoint Research. Analysts expect competition to intensify if Apple enters the segment. “The TriFold could trigger explosive growth in the foldable market, showcasing new possibilities for foldable phones,” Vice President Lim said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-03 09:48:34

Korea fast-tracks special laws to rescue steel and petrochemical sectors SEOUL, December 03 (AJP) - South Korea’s steel and petrochemical industries are coming under renewed strain amid a global economic slowdown and intensifying competition from China, prompting the government to move quickly on targeted legislation to stabilize two of the country’s most critical industrial pillars. Following the recent passage of the K-Steel Act, the Petrochemical Industry Competitiveness and Support Act is also expected to clear the National Assembly soon, according to multiple officials on Dec. 2. The twin laws mark one of the most interventionist industrial policy moves in years, reflecting rising deficits, weak margins and partial production shutdowns across the sector. Calls for a legal framework have grown louder as companies including Lotte Chemical and HD Hyundai Chemical submit restructuring plans. The special legislation is designed to smooth corporate overhaul processes and provide government backing for a shift toward higher-value production. Under the K-Steel Act, the steel industry is designated as essential to national security and economic stability, enabling broader support for R&D, investment and supply-chain management. It also establishes a special committee under the Prime Minister to coordinate industrial strategy and allows limited antitrust exemptions for joint investment and cooperation projects—an unusual step that underscores the severity of current pressures. The petrochemical bill goes further on financial and regulatory support, offering tax incentives, policy loans, regulatory easing and workforce retraining to facilitate restructuring. Such sector-specific laws are rare in Korea and typically reserved for moments of significant structural or geopolitical risk. The push comes as the U.S.–China tech rivalry reshapes global trade flows and China’s massive capacity expansion shifts it from a net petrochemical importer to a price-setting producer. This has depressed global margins and intensified competition for Korean firms. Despite a mild pickup in export volumes this year, profitability remains depressed due to price falls. Domestic petrochemical plants operated at 70–80 percent capacity in the first half, with operating margins sliding steadily since 2022. To avert deeper losses, the government recently urged companies to cut ethylene output by 2.7–3.7 million tons. Industry officials expect the pending legislation to accelerate overdue restructuring. “Once the special laws go into effect, companies will finally be able to push ahead with long-delayed restructuring and efficiency upgrades,” said one industry official, noting that follow-up support and policy consistency will determine the effectiveness of the overhaul. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-03 09:30:58

South Korea should remember Dec. 3 as Democracy Memorial Day "A year has passed since the insurrection, yet darkness still lingers," said the ruling party leader, reflecting on the chaos following former President Yoon Suk Yeol's declaration of martial law. This statement underscores the ongoing turmoil in society. Since last December, this column has frequently criticized the martial law, mentioning terms like 'impeachment,' 'presidential election,' 'special prosecutor,' and 'People Power Party.' Even when not directly discussing martial law, related terms like 'diplomacy' and 'prosecution' have naturally surfaced. More articles on this topic are expected. As the special investigation into the insurrection nears completion, revelations continue, such as the justice minister's controversial communication with the first lady. The repeat of 'state manipulation' following the impeachment of Park Geun-hye has further angered the public. Despite Yoon's earlier promise to accept legal and political responsibility, his actions in court suggest otherwise. The past year has been tumultuous, marked by Yoon's failed arrest and release. On Nov. 26, the first trial of key figures indicted for martial law concluded. The special prosecutor labeled their actions as a 'terror against South Korean democracy.' While the appropriateness of the sentencing is debatable, holding those responsible is crucial. The court's first ruling is expected on Jan. 20. The People Power Party, now in opposition, appears unchanged from a year ago. Despite pledging to apologize for martial law and impeachment, internal discord persists. The party leader's stance resembles that of the ousted president, reflecting a regressive mindset. A consistent, reflective stance on martial law is necessary for public forgiveness and effective governance. The government is considering designating Dec. 3 as 'Democracy Memorial Day.' The martial law, the first since 1979, highlighted the importance of democracy and the constitution. Despite the failure of Yoon's 'coup,' support for his actions remains, posing a dangerous threat. To prevent future constitutional crises, strict legal action and continued emphasis on the day's significance are essential. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-03 09:23:53

South Korea's FX reserves rise for sixth month to $430.7 billion SEOUL, December 03 (AJP) - South Korea’s foreign exchange reserves climbed for a sixth straight month in November, rising by $1.84 billion to $430.66 billion — the highest level since August 2022 — the Bank of Korea (BOK) said on Wednesday. The steady increase follows a five-year low of $404.6 billion recorded in May. The central bank said the latest gain was driven by higher investment returns and an uptick in foreign-currency deposits held by domestic financial institutions. By asset type, securities including government and corporate bonds rose by $1.39 billion to $379.35 billion. Deposits increased by $490 million to $26.43 billion. Gold holdings were unchanged at $4.79 billion. As of end-October, South Korea ranked ninth globally in foreign reserves. China topped the list with $3.343 trillion, followed by Japan, Switzerland, Russia, India, Taiwan, Germany and Saudi Arabia. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-03 08:46:10

Court rejects arrest warrant for PPP's former floor leader SEOUL, December 3 (AJP) - A court denied an arrest warrant for Choo Kyung-ho, the former floor leader of the main opposition People Power Party (PPP) early Wednesday morning. The Seoul Central District Court rejected the warrant sought by prosecutors over his alleged involvement in disgraced former President Yoon Suk Yeol's martial law debacle in December last year, citing considerable legal disputes surrounding the charges. Choo has been accused of interfering with parliamentary efforts to lift the martial law declared by Yoon on Dec. 3 by repeatedly changing locations to prevent lawmakers from voting for it. The court said Choo has been cooperating with the investigation into the debacle and that there is no risk of flight or evidence tampering. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-03 08:43:44

South Korean brokerages post higher profit in Q3 SEOUL, December 03 (AJP) - South Korean securities firms posted a combined net profit of 2.49 trillion won in the third quarter, up 37.6 percent from a year earlier but down 12.6 percent from the previous quarter, preliminary data from the Financial Supervisory Service (FSS) showed on Wednesday. The sector’s average return on equity rose to 2.6 percent from 2.1 percent a year earlier, supported by a rebound in stock markets that lifted commission income. However, higher interest rates weighed on bond trading, dragging overall quarterly profit lower. As of end-September, the industry’s total capital stood at 100.7 trillion won, up 4.2 trillion won over three months. The average net capital ratio increased to 920.2 percent, with all firms comfortably above the regulatory minimum of 100 percent. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-03 08:40:30

Kookmin University professor named among world's top 2 percent food science researchers SEOUL, December 02 (AJP) - Kookmin University said in a recent announcement that Jang Yoon-ji, who teaches in the university's Department of Food and Nutrition, has been listed among the 2025 Top 2% Scientists compiled by Stanford University and Elsevier. The listing evaluates citation indicators and research impact to identify leading scholars across global fields, and the university noted that Jang's inclusion highlights her influence in food safety and food science research. Jang's recent work focuses on global food safety challenges, including the spread of antibiotic-resistant bacteria and foodborne pathogens. She has concentrated on bacteriophage-based technologies that selectively eliminate harmful bacteria while avoiding the broad-spectrum limitations of conventional antimicrobials. Her team has developed powder, hydrogel and antimicrobial film formulations with improved stability and controlled-release features, applying them to food surfaces and packaging materials to explore more precise and environmentally sustainable safety solutions. Her research portfolio includes several projects supported by the National Research Foundation of Korea, such as studies on microbiome shifts and safety assessments related to phage applications in food systems, as well as the development of selective pathogen control using surface-modified carbon dots. With support from the Ministry of Agriculture, Food and Rural Affairs, she is also working on postbiotic formulations tailored to the intestinal environments of older adults and infants. Additional work includes designing phage-control technologies that regulate phages inhibiting beneficial microorganisms during fermentation. These projects contribute to functional materials for vulnerable populations, offer pathways toward antibiotic alternatives and support the development of sustainable food safety technologies across the broader food industry. "It is meaningful to expand the scope of research based on selective microbial-control technologies and to contribute to building sustainable food safety capabilities for both Kookmin University and Korea," Jang said. 2025-12-02 17:47:51

Cold wave advisory issued in Seoul with sub-zero temperatures expected SEOUL, December 2 (AJP) - A cold wave advisory was issued for all 21 districts of Seoul and surrounding areas on Tuesday, just before a new cold snap hit the capital in the evening. Such an advisory is issued when morning temperatures are expected to drop by more than 10 degrees Celsius from the previous day, or at least 3 degrees below the seasonal average, or when the morning low is forecast to remain at or below -12 degrees for two or more consecutive days. Morning temperatures on Wednesday are expected to plunge below zero, with daytime highs remaining low in most areas as chilly winds blow. In collaboration with local districts and relevant agencies, the Seoul Metropolitan Government will maintain 24-hour monitoring and ensure shelters are equipped with emergency and winter essential supplies. To ensure the safety of elderly and other vulnerable people, the city plans to conduct phone checks and in-person visits as needed. 2025-12-02 17:13:32

Aju Media Group and Vision Culture sign partnership for WAIFF Seoul 2026 SEOUL, December 02 (AJP) - Aju Media Group and Vision Culture signed a memorandum of understanding (MOU) on Tuesday to form a strategic partnership for the successful hosting of the “World AI Film Festival (WAIFF) Seoul 2026.” The signing ceremony was held at Aju Media Group’s headquarters in Jongno-gu, central Seoul. The event was attended by Aju Media Group Chairman Kwak Young-gil, President Lim Kwu-jin, Vision Culture Chairman Byun Jun-yeon, and WAIFF Seoul Chair Lee Catalina. Under the agreement, Aju Media Group will serve as the official media partner for “WAIFF Seoul 2026,” which is scheduled to take place in March next year. The two sides will cooperate across several areas, including production and coverage of WAIFF Seoul-related content, media support for the opening and awards ceremonies, promotion and reporting through domestic and international media channels, joint planning of programs, interviews, and on-site documentation. WAIFF is an international, network-based film festival that explores the artistic fusion of film and artificial intelligence. It was established by Institut EuropIA in Nice, France, and has expanded into a global event hosted in France, Brazil, Japan, China, and South Korea. The first edition of WAIFF took place in April this year in Nice, near Cannes. It received more than 1,500 film submissions from 85 countries, drawing around 200 festival officials and over 1,000 attendees. 2025-12-02 17:10:50

Asian markets mixed on yen carry trade fears as KOSPI outperforms SEOUL, December 02 (AJP) - Asian equity markets were mixed on Tuesday as investors weighed the growing risk of a yen carry trade unwind sparked by rising expectations of a Bank of Japan interest rate hike. Korea’s KOSPI stood out as the region’s strongest performer, drawing sizable foreign inflows even as most other Asian benchmarks stalled or slipped. The Korean won strengthened slightly to 1,468.9 per dollar, up 2 won from the previous session, supported by foreign capital moving into Seoul’s markets and a renewed push by financial authorities urging exporters and institutions to convert dollar earnings into won. Still, analysts noted that Korea’s M2 money supply growth remains higher than in other major economies, suggesting that currency stabilization will require more time and potentially further policy measures. The KOSPI jumped 1.9 percent to 3,994.93, briefly approaching the psychologically significant 4,000 line as investors repositioned amid heightened volatility in Japan. Monday’s trade data, which showed a surplus, added momentum. Foreign investors bought 1.21 trillion won ($800 million) in Korean equities, while institutions purchased 393 billion won. Retail investors sold 1.58 trillion won, locking in recent gains. Large-cap technology stocks led the advance. SK hynix climbed 3.72 percent to 558,000 won, reclaiming the 550,000-won level for the first time in weeks. Samsung Electronics added 2.58 percent to 103,400 won, consolidating its hold above the symbolic “100,000-Electronics” threshold. Carmakers, which had slumped the previous day, rebounded sharply: Hyundai Motor rose 4.52 percent to 266,000 won and Kia gained 4.19 percent to 117,000 won. Shipping stocks also surged following the latest trade data, with Pan Ocean up 11.17 percent, Korea Line rising 9.04 percent, and Hyundai Glovis climbing 3.93 percent. Japan’s Nikkei 225 ended largely flat at 49,303.45, giving back early gains as BOJ tightening expectations solidified. Financial stocks climbed on the prospect of higher rates, with Mitsubishi UFJ Financial Group up 2.46 percent. But analysts cautioned that a full-scale unwind of yen-funded carry positions could trigger broader market stress. Japanese industrial and robotics names were notable gainers. Fanuc rose 6.51 percent, and Yaskawa Electric advanced 4.67 percent, reflecting optimism that the export downturn may be bottoming and capital expenditure could soon pick up. Exporters that had benefited from yen weakness, including Toyota, retreated, with the automaker falling 1.2 percent. Taiwan’s TAIEX mirrored Korea’s strength, closing 0.81 percent higher at 27,564.27, led by TSMC, which gained 1.42 percent. MediaTek, after a sharp rally in recent days, slipped 2.08 percent on valuation concerns. Mainland Chinese markets remained among the region’s weakest as investors assessed the potential impact of a BOJ rate hike on regional liquidity. The Shanghai Composite fell 0.42 percent to 3,897.71, and the SZSE Component declined 0.68 percent to 13,056.70. Hong Kong’s Hang Seng Index, which touched 26,264 earlier in the day, pared gains to trade 0.14 percent higher at 26,067 as of 4:40 p.m. 2025-12-02 17:06:45