South Korea performs third-best in Q3 real GDP growth in OECD scale SEOUL, November 26 (AJP) -SEOUL, November 26 (AJP) - The South Korean economy performed third-best among 26 economies of the Organization for Economic Cooperation and Development (OECD) in the third quarter, according to preliminary compiling by OECD, the Bank of Korea said Wednesday. Korea’s real GDP grew 1.166 percent in the July–September period, ranking third out of 26 countries that had released preliminary estimates, Israel topped the list with 2.967 percent growth, driven largely by a sharp rebound from a –1.1 percent contraction in the second quarter. Indonesia, continuing its streak of robust expansion, placed second at 1.216 percent. China recorded 1.1 percent growth, performing behind Korea’s quarterly rate for the first time in more than three years — since the second quarter of 2022. Korea’s third-quarter performance marks a dramatic turnaround from earlier this year. In the first quarter, GDP fell –0.219 percent, weighed down by weak consumer sentiment following the national emergency decree, placing Korea 34th among 37 economies. The economy rebounded in the second quarter, expanding 0.675 percent on the back of strong exports despite cross-tariff shocks from the United States, lifting Korea’s ranking to 10th. The Bank of Korea is expected to raise its 2025 growth outlook in its revised economic forecast on Thursday. Jungwoo Park, economist at Nomura Securities, in its recent report observed rising equity and housing prices are generating a wealth effect that will help revive consumption. “Growth next year is likely to outpace Korea’s potential growth rate (of around 1.8 percent),” he said. He perceived that the Bank of Korea’s rate-cutting cycle is effectively over. “We expect the BOK to support the government’s expansionary fiscal stance and keep the policy rate unchanged at 2.50 percent through the end of next year,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-26 07:26:00

K-Food diplomacy: strengthening South Korea-Middle East ties The Middle East, historically a hub of the ancient Silk Road, is now witnessing a surge in K-food popularity, broadening cooperation between South Korea and the region. As of October, K-food exports to the United Arab Emirates (UAE) rose 23.2% from the previous year, reaching $275 million. The South Korean government views the Middle East as a strategic market for diversifying K-food exports. Efforts include easing halal certification burdens, supporting local store entries, and participating in events like the Gulfood International Food Expo. Plans for next year include funding halal production lines and establishing a halal K-food section in Middle Eastern online stores. On Nov. 19, the Ministry of Agriculture, Food and Rural Affairs hosted an event in Abu Dhabi, inviting 30 local influencers and UAE graduates to showcase K-halal food and K-food tech. First Lady Kim Hye-kyung, during her Middle East tour for the G20 summit, also promoted K-food, drawing significant interest. Attendees praised dishes like bibimbap and kimbap, highlighting K-food's popularity. The event featured fresh produce like strawberries grown with Korean smart farm technology in the UAE desert, and exported Korean pears and grapes. Processed foods such as ramen and banana milk were also displayed. Notably, Korean beef, recently halal-certified and exported to the UAE, attracted attention, marking a significant milestone in introducing Korean culinary culture to the Middle East. Food serves as a gentle form of diplomacy, akin to the ancient Silk Road's trade routes. K-food is now forging a 'path of taste,' enhancing economic and cultural partnerships between South Korea and the Middle East. The South Korean government aims to continue supporting K-food as a key driver of trust and cooperation along this modern Silk Road. The author is the Korean Minister of Agriculture, Food, and Rural Affairs. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-26 07:14:59

OPINION: Azerbaijan's Path to Peace and Progress SEOUL, November 25 (AJP) - Although geographically distant, Korea and Azerbaijan have come closer thanks to a series of meaningful events. One such moment unfolded when the Embassy of the Republic of Azerbaijan in Seoul hosted a special ceremony on Nov. 6 to commemorate Victory Day, observed annually on Nov. 8. The event brought together dignitaries, foreign ambassadors, and prominent figures from Korea’s political, economic, scientific, media, and cultural spheres, as well as members of the Azerbaijani diaspora. It served not only to honor Azerbaijan’s military achievements but also to celebrate its enduring cultural heritage and expanding diplomatic presence on the global stage. The commemoration highlighted two milestones: Azerbaijan’s 2020 victory in the 44-day Patriotic War and its rich cultural legacy. Under President Ilham Aliyev’s leadership, the victory resulted in the liberation of occupied territories, including Garabakh, enabling the return of hundreds of thousands of displaced citizens. Azerbaijan’s Ambassador to Korea, Ramin Hasanov, noted that the achievement represented not only the restoration of territorial integrity but also a triumph of justice and international law. He emphasized that Azerbaijan remains firmly committed to peace. While the victory marked a historic turning point, the country continues constructive dialogue with Armenia to sign a peace treaty, which has recently been initialed, as well as to advance border delimitation efforts. Post-war priorities include large-scale demining, the reconstruction of Garabakh and Eastern Zangezur, and improving living conditions for returning residents. Ambassador Hasanov also highlighted positive diplomatic developments following President Aliyev’s August 2025 visit to Washington, while acknowledging ongoing challenges such as humanitarian demining, the fate of missing persons, and safeguarding the rights of the Western Azerbaijani Community. He further praised the “Great Return Program,” through which more than 50,000 displaced citizens have already resettled in their homeland. The ceremony featured a Victory Day documentary, a refined concert by Korean musicians, and a banquet, offering guests an opportunity to reflect on Azerbaijan’s resilience and the significance of the occasion. At this moment of commemoration on November 6, news of a major diplomatic breakthrough further underscored Azerbaijan’s new chapter. I was heartened to learn that the leaders of Azerbaijan and Armenia had signed a historic accord at the White House on August 8, 2025, under the auspices of U.S. President Donald Trump. President Ilham Aliyev and Prime Minister Nikol Pashinyan shook hands as President Trump hailed the agreement as “historic,” noting that “it’s been a long time coming.” The accord is expected to reopen key transport routes between the two nations and strengthen U.S. engagement in the South Caucasus. For more than three decades, Azerbaijan and Armenia had been divided by the tragic conflict over the former Nagorno-Karabakh region of Azerbaijan. The fierce battles of the late 1980s and 1990s left deep wounds on both sides. This new peace agreement now offers long-awaited hope for reconciliation and lasting peace in a region long burdened by division and sorrow. Building on this renewed spirit of peace and cultural continuity, special presentations of Kitabi-Dada Gorgud—an ancient Azerbaijani epic and a monument of the Turkic world—were held at Seoul National University on Nov. 12 and at the National Assembly Members’ Office Building on Nov. 17. Supported by the Fund for Support to Azerbaijani Diaspora, the events introduced the Korean translation of six chapters of the epic, bringing together Korean dignitaries, members of the Azerbaijani diaspora, and students. With 1,000 copies donated to libraries nationwide, the Korean edition underscores the deepening cultural ties between Azerbaijan and Korea. Jointly translated by Azerbaijani and Korean scholars, it contributes meaningfully to promoting Azerbaijan’s heritage and strengthening mutual understanding. Believed to have been composed between the 9th and 11th centuries from ancient oral traditions, Kitabi-Dada Gorgudis a foundational spiritual monument of the Turkic world, celebrating heroism, homeland, and the triumph of good over evil. Today, it is regarded as a vivid reflection of the lifestyle, values, and heroic spirit of the ancestors of the Azerbaijani people and an essential component of the cultural heritage of the Turkic world. Its influence continued through Nizami Ganjavi (1141–1209), Azerbaijan’s legendary poet and writer, whose five-part masterpiece Khamsa enriched world literature with universal themes of love, justice, and wisdom. Together, these works reflect Azerbaijan’s dual heritage—its heroic Turkic traditions and its profound classical humanism—and continue to resonate in modern cultural exchanges, especially with Korea. Between 2009 and 2011, joint archaeological excavations in Gabala uncovered artifacts strikingly similar to those in Gyeongju, Korea’s ancient Silla capital, suggesting early Silk Road contacts. These discoveries inspired the 2015 sister-city partnership between Gabala and Gyeongju. Nizami’s Leyli and Majnun, recently translated into Korean, has also become an enduring cultural bridge, deepening mutual understanding between the two nations. Ultimately, Azerbaijan’s Victory Day celebration in Seoul—combined with the recent peace accord in Washington—symbolizes a nation moving from conflict to cooperation, and from resilience to renewal. Today, Azerbaijan stands as a confident, forward-looking country: rebuilding its land, engaging the world through diplomacy, and honoring its deep historical roots as it enters a new era of peace and global leadership. Moreover, the Korean translation of Kitabi-Dada Gorgud—an ancient Azerbaijani epic and monument of the Turkic world—showcases Azerbaijan’s rich heritage while strengthening cultural ties between Korea and Azerbaijan. --About the author-- The author, Choe Chong-dae, is a columnist and senior member of the Royal Asiatic Society Korea. He is also an international cultural and historical affairs enthusiast. He has contributed regular opinion columns to The Korea Times for over four decades. He is an editorial board member of the Newsletter of the Korea-America Association and the founding director of the Korea-Swedish Association. In 2010, he was awarded Sweden's Royal Order of the Polar Star, one of the country's most prestigious honours. 2025-11-25 17:56:42

PHOTOS: Nuri stands upright for its journey into space SEOUL, November 25 (AJP) - South Korea completed the vertical installation of its homegrown launch vehicle Nuri on November 25, ahead of its fourth mission scheduled for 1:10 a.m. on November 27. The rocket now stands secured on the launch pad, waiting for its final countdown. Nuri will carry 13 satellites into space, including the next-generation medium-sized satellite No. 3 and twelve CubeSats. The payloads will test technologies across a wide range of fields — from space medicine and satellite disposal to navigation, Earth observation, and 6G communication. The final launch decision will be made eight hours before liftoff, based on weather and overall space environment conditions. 2025-11-25 17:48:17

PHOTOS: Successful Italian "FORMAGGIAMO!" Event with Masterclass by Chef 'Fabri' SEOUL, November 25 (AJP) – The Italian cheese promotion campaign “FORMAGGIAMO!” wrapped up successfully after running from November 19 to 24 at High Street Italia in Sinsa-dong, Gangnam District, Seoul. On the opening day, Chef Fabrizio Ferrari, known as “Fabri,” hosted a masterclass featuring pasta dishes made with four different cheeses and a fusion dish of cheese kimchi fried rice combining Korean and Western flavors. “FORMAGGIAMO!” is part of the domestic program for this year’s 10th anniversary of the “Week of Italian Cuisine in the World,” an event held simultaneously across the globe. In South Korea, the campaign showcased the value and appeal of Italian cuisine through exhibitions, seminars, cooking shows, and tasting events. 2025-11-25 17:43:24

Korean Air to phase out plastic meal trays for eco-friendly alternatives SEOUL, November 25 (AJP) - Korean Air has decided to gradually replace its in-flight meal containers with ones with eco-friendly, sustainable alternatives as early as next month, the flagship carrier said on Tuesday. The airline will begin using containers made from plant-based, non-wood pulp materials on select routes in early December, with plans to expand their use across its entire fleet by the end of next year. The move is intended to reduce plastic use and carbon emissions as part of its commitment to corporate environmental responsibility. The new containers will replace those used for main dishes in economy class over the past 20 years. Made from materials such as wheat straw, sugarcane, and bamboo, they are considered eco-friendly because they do not require tree lumbering. The containers are also durable, maintaining their shape under high temperatures. Korean Air expects the switch to reduce carbon emissions by about 60 percent. "This is a long-term investment in environmental sustainability," said a Korean Air spokesperson. "As the global aviation industry moves toward decarbonization, we are committed to fulfilling our social responsibilities while continuing to provide quality service to our customers." Korean Air has been actively implementing environmental initiatives. In 2023, the airline replaced plastic cutlery with bamboo utensils. It also runs upcycling programs that transform old uniforms into medicine pouches and worn in-flight blankets into bags for hot water bottles. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 17:26:10

Asian stocks mostly rise as Taiwan, Shanghai lead gains SEOUL, November 25 (AJP) - Asian equities ended mostly higher on Tuesday, led by solid gains in Taiwan and mainland China, while early momentum in several tech-heavy indices faded by the close. South Korea’s benchmark KOSPI rose 0.3 percent to 3,857.78, paring back an early jump of more than 1 percent as enthusiasm around Google’s new generative AI engine, Gemini 3.0, cooled. Local chip and AI-related stocks saw limited spillover from the launch amid reports that Google is relying on its in-house silicon rather than Nvidia chips for inference. Foreign investors bought a net 116 billion won ($78.7 million), helping support the index, while retail investors and institutions booked profits. The won strengthened modestly to 1,472.7 won per dollar, though authorities’ efforts to curb volatility have had limited impact amid persistent structural pressures, including the U.S.–Korea rate gap and elevated household debt. Market bellwethers were mixed. Samsung Electronics climbed 2.69 percent to 99,300 won, nearing the psychologically important 100,000-won level, while SK hynix edged down 0.19 percent as foreign funds sold heavily. AI hardware names advanced, with Samsung Electro-Mechanics jumping 6.86 percent on strong demand for multilayer ceramic capacitors used in AI servers and EVs. Construction and infrastructure stocks also gained on optimism surrounding negotiations toward an end to the Russia-Ukraine conflict. Samsung C&T rose 4.82 percent and Hyundai Engineering & Construction added 1.84 percent. The KOSDAQ slipped 0.05 percent to 856.03 after giving up morning gains. Japan’s Nikkei 225 finished little changed, up 0.07 percent at 48,659.50. Semiconductor-related names were mixed: Advantest rose 4.18 percent and Tokyo Electron gained 3.05 percent, while Ibiden was flat. SoftBank Group tumbled 9.95 percent following the debut of Google’s Gemini 3.0, which investors viewed as intensifying competition in the AI ecosystem. Taiwan’s TAIEX outperformed regionally, jumping 1.54 percent to 26,912.17. Chip giant TSMC rose 2.91 percent and MediaTek climbed 3.04 percent, buoyed by sustained AI demand from the U.S. Hon Hai Precision slipped 0.45 percent amid concerns over weaker-than-expected performance at its EV joint venture with Yulon and speculation about the partnership’s future. China’s markets also advanced. The Shanghai Composite Index gained 0.87 percent to 3,870.02, supported by expectations that the Communist Party will unveil major ICT investment plans — such as 6G and cloud infrastructure — at its December economic policy meeting. Smart grid firm Qingdao Topscomm and cloud networking company Raisecom Tech both rose by the 10 percent daily limit. The SZSE Composite jumped 1.53 percent to 12,777.31, driven by biotech shares after Beijing created a new insurance category, the Commercial Health Insurance Innovative Drug List (CHIIDL), easing pathways for new drugs. Hualan Biological surged 11.21 percent, while Sinoma Science climbed 10.01 percent. Hong Kong’s Hang Seng Index was up 0.66 percent at 25,885 as of 4:45 p.m., with Xiaomi rallying 3.9 percent to HK$40.16. 2025-11-25 17:01:40

Unionized Seoul subway workers threaten strike after failed wage talks SEOUL, November 25 (AJP) - Unionized subway workers in Seoul threatened a full-scale strike at a press conference in front of Seoul City Hall on Tuesday. Seoul Metro, which operates subway lines 1 through 8, warned that they would strike unless their demands for higher wages, the hiring of more staff, and a halt to large-scale layoffs and pay cuts are met. The union added that an all-out strike would begin in the coming weeks if these demands are not addressed. They warned, "If workers' safety is not ensured through the hiring of more staff, we will begin a partial slowdown on Dec. 1, followed by a full-scale strike starting Dec. 12." The slowdown would involve delayed door closures and reduced train speeds, likely causing disruptions for commuters during the morning and evening rush hours. The two sides failed to narrow their differences in recent wage negotiations, with the union seeking a 3 percent salary increase while Seoul Metro offered just 1.8 percent, citing budget constraints. In a recent vote, 83.53 percent of unionized workers supported going ahead with the strike. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 16:45:31

Musinsa posts record profit for second straight year despite fashion industry downturn SEOUL, November 25 (AJP) - South Korean fashion platform Musinsa announced on Tuesday its cumulative operating profit through the third quarter rose more than 20 percent from a year earlier to surpass 70 billion won ($50 million), while revenue increased by double digits. Third-quarter operating profit on a consolidated basis increased 7.3 percent from a year earlier to 11.8 billion won, while revenue expanded 11.8 percent to 302.4 billion won. Cumulative operating profit through the third quarter reached 70.6 billion won, up 20.1 percent from 58.8 billion won a year earlier. Cumulative revenue reached 973 billion won, up more than 153 billion won from 819.6 billion won in the same period. The company opened new stores during the third quarter including Musinsa Standard locations in Gangdong and Ilsan, and 29CM stores in Seongsu. Musinsa Trading, the company's brand distribution subsidiary, also launched offline stores for global brands including Undercover and Y-3. Musinsa opened a Musinsa Standard flagship store on China's Tmall in September and a Musinsa Store official mall in October, participating in the Singles Day shopping festival. The company plans to open its first overseas Musinsa Standard store and a Musinsa Store Shanghai multi-brand shop in December. In Japan, Musinsa operated a three-week pop-up store in Tokyo's Shibuya in October featuring more than 80 domestic brands and expanded collaboration with local fashion e-commerce platform Zozotown. Cumulative fashion exports through the third quarter increased more than threefold from a year earlier. "The third quarter was a period focused on building inventory for the fall-winter season ahead of the year-end shopping peak season and investing in preparation for global market entry," CEO Park Jun-mo said. A Musinsa official added, "Next year we will expand our offline presence overseas in earnest, and naturally there will be investment costs as we deploy resources." 2025-11-25 16:43:05

Koreans spent nearly $6 billion abroad on cards in Q3, setting new record SEOUL, November 25 (AJP) - South Koreans’ overseas card spending hit an all-time high in the third quarter, buoyed by a rebound in outbound travel and steady demand for direct overseas purchases, the Bank of Korea said on Tuesday. Total spending abroad using credit and debit cards reached $5.93 billion between July and September, up 7.3 percent from the previous quarter’s $5.52 billion and surpassing the previous record of $5.71 billion set a year earlier. The central bank attributed the increase largely to stronger travel demand during the summer peak season. The number of South Koreans traveling overseas rose 4.8 percent on-quarter, from 6.77 million to 7.09 million. Credit card spending accounted for $4.09 billion, while debit card transactions totaled $1.84 billion, with both categories climbing more than 7 percent from the previous quarter. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 16:17:18