Asia leans online while US clings to doorbuster ritual in yearend shopping season SEOUL, November 25 (AJP) - The final three months of the year are the busiest for global retailers, with brands competing for visibility through discounts, clearance deals and year-end promotions. Korea’s “Sale Festa”—the nationwide bargain season running from late October to mid-November—remains modest in scale compared to America’s Black Friday and China’s Singles’ Day, but global reach is widening, powered by the strong performance of Korean appliances, beauty brands and increasingly influential fashion platforms. According to Jinkyung Goo, director at the Korea Institute for Industrial Economics and Trade (KIET), the differences stem from market structure: “The U.S. model originated from clearing year-end inventory across a vast territory with high logistics cost, while Korea and China adopted the season more as a consumption-activating tool driven by online retail ecosystems.” Industry estimates show that 2025 Sale Festa sales are projected to reach 9.5 trillion to 10 trillion won, up from roughly 8.7 trillion to 9 trillion won in 2024 and 7.6 trillion to 8 trillion won in 2023, driven almost entirely by platform-led promotions and rising cross-border demand. Unlike the United States, where shoppers still camp outside stores for doorbuster deals, Korea and China rarely see such scenes. The retail dynamics in both markets are now dominated by online ecosystems, with platforms aggressively capitalizing on user traffic spikes rather than clearing inventory. Goo adds that “Korea’s online penetration has become so strong that promotions naturally center on e-commerce rather than physical stores. Companies see bigger promotional effects online, so the season evolved digitally rather than through brick-and-mortar.” In Korea, platforms such as Olive Young, Musinsa, SSG, Coupang and LotteON rely on the Sale Festa brand to boost year-end revenue. They use app push notifications, flash deals, roulette-style coupons and tiered discount tools to convert user engagement into purchases. A Musinsa official noted that winter is the peak sales season for fashion platforms: “Outerwear sales determine the success of the year, and Black Friday helps us amplify brand revenue. This year about 4,500 brands participated, and we prepared logistics aggressively to prevent delivery delays.” The company added that Ugg boots, faux-fur jackets and half-coats emerged as top performers during this season. Musinsa’s “Sale Festa/Black Friday” sales surged 73 percent in 2022 and 44 percent in 2023, underscoring how platforms have turned the season into a strategic revenue engine. Korean consumers overwhelmingly shop online, with 51.5 percent preferring e-commerce over physical stores, according to the Korea International Trade Association. The United States remains an outlier, with Black Friday still functioning as a national ritual rooted in inventory clearing. Retailers such as Best Buy, Target and Walmart use the period to flush old stock ahead of year-end accounting. But even in the U.S., online sales now dominate: Black Friday 2024 online revenue hit $10.8 billion, up 10 percent year-on-year, with mobile transactions accounting for 55 percent, according to Adobe Analytics. Shopify merchants alone generated $11.5 billion during the Black Friday–Cyber Monday period. Still, the culture of crowds lining up at dawn remains uniquely American. China’s Singles’ Day dwarfs both markets. Fueled by aggressive discounting, mobile payments and livestream commerce, Alibaba posted 57.1 billion yuan (US$9.3 billion) in a single day as far back as 2014—more than U.S. Black Friday and Cyber Monday combined at the time. The ecosystem has since evolved into a full consumer-stimulus infrastructure tied directly to Beijing’s consumption-boosting policies. By 2021, 409 million Chinese shoppers—nearly a third of all internet users—were using livestream platforms for purchases. Goo explains, “China’s Singles’ Day scaled rapidly because livestream commerce and mobile payments created a promotional infrastructure at the national level. Unlike Korea, sheer market size means the ceiling for growth is much higher.” Category trends also differ. Electronics and household goods dominate U.S. demand, whereas Korea sees strongest traction in beauty, fashion and small appliances. China skews toward livestream-driven impulse purchases, premium imports and cross-border e-commerce. According to Korean retail platforms, Black Friday in Korea functions less as a ‘clearance’ period and more as a ‘sales accelerator.’ Olive Young and Musinsa both highlight that the domestic market already runs frequent seasonal promotions, reducing the role of Black Friday as a once-a-year deep-discount event. Despite the differences in culture and mechanics, all three markets share one theme: year-end shopping seasons have become a barometer of consumer confidence. Korea’s case is especially telling. The country’s domestic “Black Friday” shows how platforms—not big-box stores—now dictate consumption trends, reflecting a hyper-digitized retail landscape where algorithms, loyalty funnels and app engagement shape spending patterns far more than in-store displays. As Goo puts it, “For Korea’s version to scale further, platforms will need to expand their reach to overseas consumers. Domestic market size is limited, so long-term growth depends on strengthening cross-border accessibility.” 2025-11-25 16:04:19

Kim Sei-young climbs back into top 10 of women's golf rankings SEOUL, November 25 (AJP) - Golfer Kim Sei-young has climbed into the top 10 in the Rolex Women's World Golf Rankings, released on Tuesday. It marks her first time among the top-ranked players in three years and five months, as she moved up one spot from 11th last week. Kim's last appearance in the top 10 was in June 2022. Her resurgence came after an impressive LPGA Tour season, winning the BMW Ladies Championship in South Korea last month, her first victory in five years, followed by a sixth-place finish at the season-ending CME Group Tour Championship in Naples, Florida last week, securing her tenth top-10 finish of the season. Among her compatriots, Kim Hyo-joo is also in the top 10, currently ranked eighth. Atthaya Thitikul of Thailand retained the top spot, followed by American golfer Nelly Korda, Japan's Miyu Yamashita, Australia's Minjee Lee, and British golfer Charley Hull. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 16:03:48

South Korean cable producer TMC to tap US boom with IPO funds SEOUL, November 25 (AJP) - TMC, a South Korean industrial cable producer, said Tuesday it will use funds from its planned initial public offering to expand in the United States, aiming to capitalize on what it described as a “supercycle” driven by surging AI-related data demand. “At a time when the cable market has entered a new supercycle, we plan to strengthen our foothold in the expanding U.S. cable industry and secure new growth engines after listing,” CEO Ji Young-won told reporters in Seoul. Founded in 1991, TMC manufactures cables for ships, offshore plants, nuclear power facilities and optical communications, and is a leading supplier in South Korea’s marine cable market. The company will conduct an institutional bookbuilding process for IPO through Nov. 27, with retail subscriptions set for Dec. 3–4. TMC expects to raise 33.5 billion won from IPO, allocating 32 billion won for facility investments and 1.4 billion won for operating capital. The spending will support the expansion of U.S. production lines, completion of certification processes, and growth in high-value segments such as shipbuilding, nuclear, data centers and telecommunications infrastructure, Ji said. The company plans targeted U.S. investments across three sectors: nuclear power, shipbuilding, and broadband infrastructure. TMC established a production subsidiary in Texas in April, with manufacturing starting this month. TMC is also expanding in nuclear and optical cable segments. The company has secured contracts to supply cables for Shin Hanul Units 3 and 4, following earlier deals for Saeul Units 3 and 4, with deliveries to begin late next year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 15:43:57

PHOTOS: Seokpajeong, Seoul's hidden gem where royal history meets tranquil beauty SEOUL, November 25 (AJP) - Seokpajeong, an ancient pavilion with detached traditional residence buildings and gardens in central Seoul, is more than just a historical site, as it serves as a hidden oasis offering a peaceful retreat from the city's bustle. Located in the tranquil district of Buam-dong on the slopes of Mt. Inwangsan, the pavilion is awash in vibrant autumn leaves at this time of year, welcoming visitors with its seasonal beauty. Once used by Gojong, the last king of the Joseon Dynasty, as a secluded royal residence, Seokpajeong, which literally means a "pavilion on a rocky hill," was designated a tangible cultural asset in 1974 and has been preserved as a museum ever since. According to historical records and folklore, Seokpajeong originally belonged to a high-ranking official and the site's breathtaking landscape caught the eye of Heungseon Daewongun, Gojong's father and the period's most powerful political figure. When the official refused to sell, Daewongun devised a cunning plan and arranged for the young king to spend a night at the villa. Under royal protocol, no subject could live in a place once visited by the king, forcing the official to relinquish his cherished retreat. Enchanted by the natural beauty of the rocks and surrounding mountain scenery, Daewongun even adopted his pen name from the pavilion. The Chinese-style pavilion, with its granite floor, exudes a unique and exotic charm, setting it apart from other traditional pavilions. Along the path to the inner garden stands a giant rock shaped like an elephant. Believed to be a site of spiritual energy, it attracts many visitors who come to make wishes. Visitors can also look around the country's traditional roof-tiled houses or hanok, which consist of a main quarter, a guest room, and a separate wing connected by a small gate and stone walls, forming a square-shaped courtyard layout. Another highlight is an old pine tree, protected by the city for its historical significance. Its gnarled branches stand as silent witnesses to the site's centuries of history. 2025-11-25 15:31:33

Meet my new partner AI: Korea deploys AI on police and defense front SEOUL, November 25 (AJP) - South Korea is rapidly deploying artificial intelligence to reinforce law enforcement, public safety and national defense, accelerating the use of advanced technologies across frontline agencies. Police authorities are increasingly integrating AI into forensics, cold-case investigations and public-safety surveillance, while the Defense Ministry is building a large-scale AI data center equipped with up to 50,000 GPUs to support next-generation defense capabilities. AI arrives as a timely tool amid the rise of complex digital crimes — from last year's deepfake pornography crisis to intensifying crypto-scam networks. The National Police Agency rolled out its generative AI-powered investigation support system, KICS-AI, to police stations nationwide on Nov. 17. Built on LG's Exaone model, the platform is integrated with the police's internal criminal-justice information system. Roughly 36,000 investigators can now use the AI tool to summarize witness statements, analyze evidence and draft search-warrant applications. Drawing on internal crime data, the system helps investigators retrieve case-relevant precedents without relying on external services. Plans are underway to extend AI assistance to arrest and detention-warrant applications. The police agency also announced Sunday that it will establish a permanent AI division under the Future Policing Policy Bureau by year-end, consolidating AI-related staff scattered across multiple departments. The new unit will oversee AI deployment strategies, ethical standards and training programs. In addition, the agency is developing a 10 billion won ($6.78 million) AI chatbot service called "Everyone's Police Officer" to handle public inquiries around the clock. Once fully operational in 2028, police expect the service to raise the ratio of complaints processed within five days from 69 percent to 85 percent. On the traffic front, the police will begin pilot testing AI-powered cameras next month to catch vehicles blocking intersections. The trial will run through February at a major intersection in Seoul's Gangnam district, with nationwide expansion planned starting in 2027. AI is already proving its worth in cracking long-dormant cases. Police recently credited advanced DNA microanalysis for solving the Sinjeong-dong serial murder case after two decades — a breakthrough that has renewed hopes for nearly 500,000 cold cases that have remained unresolved for more than 20 years. "Police are likely to adopt AI even further, as modern security is based on statistics. AI could provide faster and more accurate predictions on cases," said Lee Yun-ho, professor emeritus of police and criminal justice at Dongguk University. "For instance, AI could quickly analyze crime patterns by region, time and victim profile, allowing police to be deployed more strategically for enhanced public safety." Beyond policing, the government is ramping up AI capabilities for national defense. On Monday, the Ministry of National Defense announced plans to build an integrated AI data center equipped with up to 50,000 GPUs, reflecting the view that future warfare will depend on linking drone and satellite command systems through unified AI infrastructure. The ministry aims to drive AI transformation across all operations — from unmanned autonomous systems to administrative support. Seven pilot projects are under way, including an "AI combat adviser" that analyzes battlefield information in real time to support decisions on fighter-jet deployment and missile launches. "Safety nowadays comes through advanced technology and specialization. It's not the number of enforcers that counts anymore — we need specially trained forces and the right technology to stay ahead," Lee said. 2025-11-25 15:19:29

Hyundai, Kia October sales fall in Europe despite market growth SEOUL, November 25 (AJP) - Hyundai Motor and Kia reported lower vehicle sales in Europe in October even as the regional market expanded, according to data released Tuesday by the European Automobile Manufacturers Association. The two automakers sold a combined 81,540 vehicles last month, down 1.4 percent from a year earlier. Hyundai’s sales slipped 1.4 percent to 41,137 units, while Kia posted a 2 percent decline to 40,403 units. Their combined market share fell to 7.5 percent, a drop of 0.5 percentage points from a year ago. Hyundai’s share eased to 3.8 percent, down 0.2 points, and Kia’s declined 0.3 points to 3.7 percent. The overall European market, however, grew 4.9 percent to 1,091,904 units. Hyundai’s top performers included the Tucson (9,959 units), Kona (6,717), and i10 (3,877). Kia’s bestsellers were the Sportage (11,960), Ceed (6,271), and EV3 (5,463). In the eco-friendly segment, Hyundai sold 6,536 units of the Tucson, 5,275 of the Kona, and 2,704 of the Casper Electric. Kia’s EV3 led its green lineup with 5,463 units, followed by the Niro at 3,635 and the EV4 at 1,410. From January to October, Hyundai and Kia’s cumulative European sales fell 2.8 percent to 879,479 units. Hyundai sold 443,364 vehicles during the period, down 1.5 percent, while Kia’s total dropped 4.1 percent to 436,115. Their combined market share for the first 10 months stood at 8 percent, down 0.4 percentage points from a year earlier. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 15:09:36

SK's bet on chips pays off as the Korean group eyes $82b milestone exports SEOUL, November 25 (AJP) -Chipmaking — led by high-bandwidth memory (HBM) — accounted for 65 percent of record-setting outbound shipments by South Korea’s SK Group, which is on track to post historic exports of 120 trillion won ($82 billion) this year. Group-wide exports across SK’s portfolio — spanning semiconductors, batteries, energy, and telecommunications — reached 87.8 trillion won between January and September, up nearly 20 percent from a year earlier. With the semiconductor upcycle accelerating, annual exports are expected to easily surpass last year’s 100-trillion-won milestone. SK hynix alone generated 56.7 trillion won in overseas revenue in the first three quarters, representing 65 percent of the group total, up from 54 percent last year. The group’s external performance has long hinged on chips. During the previous semiconductor supercycle in 2017, SK’s exports hit 78.1 trillion won, while the rebound in SK hynix’s earnings last year lifted group exports to 96.8 trillion won. The company’s global dominance in HBM — the backbone technology of AI accelerators — has made it not only the growth engine for the group but also an increasingly important pillar of the national economy, a group official noted. South Korea’s total exports for the first three quarters reached $185 billion, the largest tally since data tracking began in 2010. High-value memory semiconductors, including HBM, accounted for $46.6 billion and led overall export momentum. SK hynix is also driving gains through surging tax payments and stock market performance. Its corporate tax contributions soared to 4.3 trillion won through the third quarter, roughly 45 times the 94 billion won paid a year earlier. The company’s market capitalization stood at 379 trillion won based on Nov. 24 closing prices. The gains come as SK Group pushes ahead with restructuring and revitalizing loss-making units by securing next-generation growth drivers. Chairman Chey Tae-won’s 2012 decision to acquire SK hynix — despite significant internal opposition at the time — followed by years of sustained investment, paved the way for the semiconductor powerhouse it has become. “Under Chairman Chey’s leadership, SK Group continues to contribute to the national economy through investment and job creation in future-growth sectors such as AI, semiconductors, energy, and bio,” an SK Group official said. “We plan to steadily expand investment, targeting 128 trillion won domestically by 2028, while maintaining more than 8,000 annual hires.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 14:52:20

Celltrion secures Korea Eximbank financing for US biosimilar plant acquisition SEOUL, November 25 (AJP) - Korea Eximbank said Tuesday it will provide 350 billion won (about $237 million) in financing to support Celltrion’s acquisition of Eli Lilly’s biosimilar manufacturing plant in the United States. The acquisition is aimed at strengthening the Korean drugmaker’s supply chain and expanding its presence in the world’s second-largest biosimilar market. Celltrion earlier said it will spend a total of roughly 1.4 trillion won on acquisition, early operations and later expansion of the plant. The U.S. market is expected to grow rapidly as patents for blockbuster drugs worth more than 1 trillion won in annual sales expire. Washington’s continued push to lower healthcare costs through greater biosimilar uptake is also driving demand, the company said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 14:39:12

Kangaroo tribes thrive as Seoul's 30s hit record-low homeownership SEOUL, November 25 (AJP) - Only one in four Seoul residents in their 30s owns a home — the lowest rate on record — fueling the rise of "kangaroo tribes" who cannot afford to move out of their parents' home, let alone imagine starting their own family in a city where apartment prices are nearly three times higher than in other regions. New data released Tuesday by the National Data Portal shows 527,729 households in their 30s in Seoul lived in rental housing last year, an increase of 17,215 from a year earlier and the largest jump since records began in 2015. The number of homeowners in the same age group fell to 183,456, pushing the ratio of renters to owners to nearly three to one. The trend overlaps directly with marriage patterns. Seoul now reports the highest share of unmarried people in their 30s at 37.1 percent, a rate that has risen, along with the jobless rate. Lee Hong-ki, a 34-year-old, lives in a rented space paid for by his father, unable to secure a public-sector job despite four attempts. "I feel indebted and guilty, but I have no choice. It's not that I'm not trying," he said. Demographers note that household formation — not financial handouts — is the most decisive factor in whether young adults marry or have children, and that housing sits at the center of Korea's fertility crisis. "Marriage hasn't even crossed my mind, let alone dreaming of owning a home in Seoul," said 31-year-old Lee Ji-won, who commutes to work from Gyeonggi Province. Homeownership data also reveals widening structural divides. Of Korea's 16 million homeowners, 85.1 percent own a single property, while 14.9 percent — or 2.4 million people — are multi-homeowners. The share of multi-homeowners is highest far from Seoul, reaching 20 percent in Jeju, 17.4 percent in South Chungcheong Province, and 17 percent in Gangwon Province, compared with lower shares of around 13 percent in Gwangju, Incheon, and Gyeonggi Province. The pattern underscores a contradiction in Korea's real-estate landscape: Seoul residents struggle to buy even one home, while falling prices in regional markets allow property owners there to accumulate multiple homes. The affordability gap has widened most dramatically in the past decade. According to Real Estate R114, the average Seoul apartment price reached 1.3 billion won ($881,595), versus 354.6 million won in non-capital regions, leaving a 945.1 million won gap that has remained in record territory for four straight years. A decade ago, the gap was just 311 million won — meaning the disparity has nearly tripled in ten years — driven by steady price increases in Seoul and broad declines outside the capital. Analysts expect the gulf to widen further. Government measures rolled out this year have also raised entry barriers for first-time buyers. Tighter loan-to-value and debt-service ratio rules now require more cash upfront to qualify for mortgages, effectively shutting out younger buyers who rely on borrowing to enter the market. The frustration is particularly acute for Seoul residents in their 20s and 30s, who face stagnant wages, rising rents, and shrinking prospects of catching up with housing inflation. Young Koreans, however, cannot let go of the homeownership dream. A Korea Land & Housing Institute survey of 700 single-person renters aged 19 to 39 found that 83.2 percent believe homeownership is essential for financial security and stable living. When asked which policies would help most, respondents cited home-purchase financing support (24.3 percent), long-term jeonse deposit assistance (22.3 percent), expanded public rental housing (18.6 percent), and publicly subsidized apartment sales (14.4 percent). The findings point to a consistent reality: Korea's demographic future will depend on whether young adults can afford to leave their parents' homes and form households — something increasingly out of reach in Seoul without a structural shift in housing affordability. 2025-11-25 14:31:18

Hanwha Systems expands Gumi plant with new high-tech defense facility SEOUL, November 25 (AJP) - South Korea's Hanwha Systems has opened a new production complex in Gumi, North Gyeongsang Province, following a 2.8 trillion won (approximately $2.1 billion) investment aimed at expanding its next-generation defense and electronic systems capabilities. The company said Tuesday that a completion ceremony was held at the site, with CEO Son Jae-il, local government officials, lawmakers, military officials, and partners among the 250 attendees. The expansion doubles the Gumi site to 89,000 square meters and is intended to strengthen South Korea’s defense industrial base while supporting rising global demand for advanced military systems. The new facility includes a cleanroom dedicated to precision manufacturing of electro-optical systems, radar components, and naval combat equipment. Hanwha Systems expects the plant to serve as a core export base and a center for technological innovation. In naval systems, the company plans to accelerate development of AI-enabled technologies, including automated engagement systems, autonomous vessel navigation, and intelligent propulsion control — critical capabilities for future unmanned platforms. The Gumi plant will produce multifunction radars and advanced combat systems, both key export categories for Hanwha Systems. The company has secured several major overseas contracts in recent years, including a $1.3 billion agreement with the UAE in 2022, a $1.2 billion deal with Saudi Arabia in 2024, and an $860 million contract with Iraq this year. It is also expanding its footprint in Southeast Asia, supplying combat systems to 13 vessels in the Philippine Navy. “The Gumi facility is meaningful not only for Hanwha Systems but for the local community,” CEO Son said. “It will support economic revitalization, create quality jobs, and serve as a strategic base for the sustainable growth of Korea’s defense industry.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 14:02:48