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

Turkey picks SK Plasma as partner in drive for domestic plasma-derived medicines SEOUL, November 25 (AJP) - South Korea's SK Plasma has been selected as the technology export partner for Turkey’s national initiative to localize production of plasma-derived medicines, with the firm set to build a plasma fractionation facility through a new joint venture. The company said Tuesday it signed a shareholder agreement in Ankara with the Turkish Red Crescent to establish a joint venture, Proturk, and construct a plasma fractionation plant — its second overseas export of such facilities following a project in Indonesia. SK Plasma was chosen last year over several multinational pharmaceutical firms in Turkey’s competitive tender for the localization project. Since then, the company has signed an MOU with the Turkish Red Crescent and finalized investment structures and commercial terms. The initiative is being highlighted as a major government-industry collaboration, with South Korean Ambassador to Turkey Jeong Yeon-doo involved in coordinating the project. The signing ceremony was attended by SK Plasma CEO Kim Seung-joo and Turkish Red Crescent President Fatma Meric Yilmaz. Visiting South Korean President Lee Jae Myung welcomed the agreement, noting SK Plasma’s role in Turkey’s localization strategy. Under the deal, SK Plasma will receive technology transfer fees and hold a 15 percent stake in Proturk. The remaining 85 percent will be owned by the Turkish Red Crescent’s investment arm and affiliated government agencies. Proturk plans to build the facility in Cubuk, Ankara, with an annual processing capacity of 600,000 liters of plasma. The plant will produce key plasma-derived products, including albumin, immunoglobulin for immune deficiency treatment, and factor VIII for hemophilia A. Until the plant begins operations, SK Plasma will manufacture albumin and immunoglobulin at its Andong facility using plasma supplied from Turkey. The company will also train Turkish technical personnel as part of the technology transfer. Turkish Red Crescent President Yilmaz said the partnership with SK Plasma is “vital to securing sovereignty in essential medical products,” while CEO Kim Seung-joo emphasized the importance of building production infrastructure quickly and expanding opportunities in countries seeking independence in critical healthcare supplies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 13:49:56

Korea targets Arctic route cooperation in talks with Denmark, UK SEOUL, November 25 (AJP) - South Korea is sharpening its focus on Arctic shipping corridors as it launches a weeklong maritime diplomacy effort in Denmark and the United Kingdom, aiming to expand cooperation on emerging polar routes and secure broader international backing for its maritime agenda. The Ministry of Oceans and Fisheries said Tuesday Minister Jeon Jae-soo will meet Denmark’s Minister for Industry, Business and Financial Affairs on Nov. 26 to sign memorandums of understanding covering green and digital shipping routes and logistics. Seoul is also set to hold high-level talks with Maersk, the Danish Shipping Association, and the Danish Maritime Authority, with the Arctic route highlighted as a priority area for collaboration. From Nov. 27 to 28, Jeon will attend the 34th International Maritime Organization (IMO) Assembly in London. He will also meet IMO Secretary-General Arsenio Dominguez and Singapore’s Minister for Transport, Jeffrey Sio, to seek support for South Korea’s bid to host the 2028 UN Ocean Assembly and to advance preparations for next year’s World Maritime Day event in South Korea. Jeon will lead last-minute negotiations as the IMO Assembly decides whether South Korea will secure a 13th consecutive term on the IMO Council. “Through cooperation with the IMO and key maritime partners such as Denmark, we aim to strengthen the resilience of global maritime logistics and advance eco-friendly and digital transitions,” Jeon said. “The Ministry is committed to pioneering Arctic routes as a top national priority.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 13:38:11

Sitcom at 70 and stage at 90, Korea's eternal actor Lee Soon-jae SEOUL, November 25 (AJP) - "I'm forever indebted to you," 90-year-old actor Lee Soon-jae told television viewers on Dec. 31 last year after becoming the oldest recipient of the KBS top acting award in 2024. Since his debut in 1957, he appeared in more than 100 TV dramas, embracing any role — comedy, historical epic, classical theater — so long as he could act. Lee, who passed away on Nov. 25 at age 91, was a “born actor” who never feared challenge and moved effortlessly across genres. From traditional historical dramas to sitcoms, films, and stage productions, he remained a model of passion for younger performers until his final days. Born in 1934 in Hoeryong, North Hamgyong Province, and raised in Seoul from age four, Lee discovered acting early. At Daejeon High School he staged plays with friends, and at Seoul National University he helped revive the theater club in 1956 alongside Shin Young-kyun, Lee Nak-hoon, and Hwang Eun-jin. That same year he made his stage debut in "Beyond the Horizon". The following year he appeared on Korea’s first television broadcaster, DBK, in the drama Beyond Horizon, introducing his face to the small screen. In his early career, as an exclusive actor for TBC, Lee performed in more than 100 dramas. Through the 1980s he remained prolific across television and film, though largely in supporting roles. His breakthrough came at age 57. In 1991 he portrayed Lee Byung-ho, a patriarchal print-shop owner, in the MBC drama "What Is Love." The show averaged a record 59.6 percent viewership, and the nation embraced “Daebal’s father.” Riding the drama’s popularity, Lee successfully ran for the National Assembly in 1992. Even during his political years, he continued acting in "Ambition", "Farewell", "Bathhouse Men", and other series. After leaving politics in 1996, he returned fully to the screen. In 1999 he played Yoo Ui-tae, the strict yet warm-hearted physician and mentor to Heo Jun, in the MBC historical drama "Heo Jun", marking a dramatic image shift and winning renewed acclaim. He went on to appear in a wide range of works — from historical blockbusters like Sangdo, Jang Hee-bin, Immortal Admiral Yi Sun-sin, and Lee San to contemporary dramas such as The Heungbo Family. Lee’s second golden era arrived with the 2006 MBC sitcom "High Kick!." Shedding his stern image, he played a cranky but harmless traditional-medicine doctor. A notorious scene where he is caught watching adult videos earned him the nickname “Yadong Soon-jae,” endearing him to the young generation. At 72, he won the MBC Entertainment Grand Prize for the role. Despite the grueling five-day-a-week shoot, he once said he worked harder after hearing that hospitalized patients found rare moments of laughter watching the show. In 2008 he moved audiences again as an oboe player battling dementia in "Beethoven Virus." In the 2011 film I Love You, he portrayed a prickly but tender elderly man whose love story left theaters in tears. He continued to show comedic chemistry in "High Kick Through the Roof (2008)", including a late-life romance with the late Kim Ja-ok and playful quarrels with on-screen son-in-law Jung Bo-suk. In 2013, Lee joined the cast of tvN’s travel variety show "Grandpas Over Flowers" alongside Shin Goo, Park Geun-hyung, and Baek Il-sub. His tireless energy — studying instead of sleeping on flights, shooting without complaint — earned him praise from young viewers as a “true adult.” He led the ensemble through the 2014, 2015 and 2018 seasons. In his later years, he returned frequently to his first love: the stage. Even in his eighties, he endured the physical and mental demands of live theater. In 2021, at age 87, he delivered a celebrated performance in "King Lear", performing barefoot with flowing white hair and reciting nearly 200 minutes of lines without falter, drawing critical acclaim. Last year, he appeared in "Waiting for Godot… Waiting," though health issues forced him to cancel some shows. He vowed to return “in healthy form,” but doctors recommended three months of rest, prompting concerns among the public. His lifetime of relentless work was rewarded late. In 2024, he won the KBS Drama Award for his role as a veteran actor who can hear a dog’s voice in Dog Sound, becoming the oldest-ever winner of the network’s top prize. “I always believed a chance would come someday, so I kept preparing,” he said tearfully in his acceptance speech. “Today I received this beautiful, precious award.” In 2025, he was named a Korea PD Award winner in the actor category, though worsening health prevented his attendance. Lee Soon-jae leaves behind a legacy unmatched in Korean performing arts — a career that spanned nearly seven decades, countless genres, and generations of audiences who grew up with his voice, his authority, his mischief, and above all, his devotion to the craft of acting. 2025-11-25 13:31:59

Asian markets ride on Google-powered U.S. tech rally SEOUL, November 25 (AJP) - Asian markets climbed Tuesday on another AI-driven rally from the United States — this time powered by Google’s late-cycle breakthrough with Gemini — lifting semiconductor shares across the region. The benchmark KOSPI was up 1.2 percent at 3,892 as of 10:30 a.m., tracking overnight rebounds in the Nasdaq and the Philadelphia Semiconductor Index. Gains were capped ahead of the Bank of Korea’s Monetary Policy Board meeting on Thursday. Foreign investors led the rise with 30.3 billion won (20.5 million dollars) in net purchases, followed by institutions with 14.8 billion won. Retail investors sold 26.1 billion won to lock in profits. The KOSDAQ added 0.76 percent to 863. The U.S. dollar eased to 1,473.1 won, down 2.1 won from the previous close, after fiscal and monetary authorities formed an FX stabilization team with the National Pension Service, one of the world’s largest institutional investors and a major holder of U.S. assets. Samsung Electronics climbed 2.8 percent to 99,400 won, and SK hynix gained 2.1 percent to 531,000 won. The Philadelphia Semiconductor Index jumped 4.6 percent, lifting Nvidia partners globally, though the upside was limited as Gemini 3.0 relies on Google’s own inference chips, reducing immediate spillover demand for external suppliers. The construction sector surged on renewed expectations of a Ukraine ceasefire and post-war rebuilding. Hyundai Engineering & Construction rose 2.85 percent to 61,400 won, and Samsung C&T advanced 3.44 percent to 225,500 won. The sector gained momentum as the U.N. and World Bank estimate more than 524 billion dollars will be needed for Ukraine’s reconstruction over the next decade. Construction equipment stocks retreated after Monday’s sharp gains. HD Hyundai Construction Equipment fell 2.1 percent to 93,500 won. Defense stocks weakened on cooling geopolitical momentum. Hanwha Systems declined 1.37 percent to 46,750 won, and LIG Nex1 slipped 1.52 percent to 388,000 won. Hyundai Rotem, however, rose 0.9 percent to 176,500 won on expectations of potential demand for railway vehicles in Ukraine’s rebuilding phase. Japan’s Nikkei 225 climbed 0.8 percent to 49,021.5, boosted again by semiconductor-related shares. Advantest rose 5.73 percent to 19,365 yen, Ibiden added 2.5 percent to 11,610 yen, and Tokyo Electron gained 3.2 percent to 31,130 yen. Taiwan’s TAIEX rose 1.54 percent to 26,913. TSMC climbed 2.9 percent to 1,415 Taiwan dollars, MediaTek gained 2.61 percent to 1,180 Taiwan dollars, and Hon Hai Precision Industry rose 1.6 percent to 225 Taiwan dollars. Greater China markets also advanced, led by technology shares. The SZSE Composite Index rose 1.2 percent to 12,732, lifted by electric vehicle–related stocks including CATL, which gained 1 percent to 374.5 yuan. Hong Kong’s Hang Seng Index gained 0.9 percent to 25,952. Xiaomi climbed 3.52 percent to 40 Hong Kong dollars, and Alibaba Group Holding added 3.4 percent to 160 Hong Kong dollars. The Shanghai Composite Index edged up 0.46 percent to 3,854, a milder rise than its regional peers. 2025-11-25 11:58:26

Ultra-fine dust advisory issued for Seoul SEOUL, November 25 (AJP) - An ultra-fine dust advisory has been issued for the Seoul metropolitan area overnight, the Seoul Research Institute of Public Health and Environment said on Tuesday. Such advisories are issued when the hourly average concentration of PM2.5 exceeds 75 µg/m³ for more than two consecutive hours. PM 2.5, which is about 1/30th the size of a human hair, can pass through the filters of the human respiratory system, causing greater harm to the body than regular fine dust. The institute said a high density of fine dust was caused by accumulated pollutants from outside and inside the country, combined with stagnant air conditions. The institute said, "Vulnerable people such as the elderly, children, and those with respiratory diseases are advised to refrain from outdoor activities. Those going outside should wear masks and avoid areas with heavy traffic." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 10:27:34

Naver Financial, Dunamu to merge in $13.5 billion deal creating Korea's fintech giant SEOUL, November 25 (AJP) - Naver Financial, the country's top mobile payment provider, and Dunamu, operator of South Korea's largest cryptocurrency exchange Upbit, will merge in a landmark deal valued at around 20 trillion won ($13.5 billion). The boards of both companies are set to convene on Wednesday to approve the merger, with a joint press conference scheduled for Thursday at Naver's headquarters in Seongnam, south of Seoul. The combined entity would become Korea's largest fintech company. Naver founder Lee Hae-jin and Dunamu Chairman Song Chi-hyung are expected to attend the announcement, with other executives from both firms, including Naver CEO Choi Soo-yeon and Dunamu Vice President Kim Hyung-nyun, will also be present. The transaction will be structured as a comprehensive stock swap, with Dunamu shareholders exchanging their stakes for newly issued Naver Financial shares. Upon completion, Dunamu will become a wholly-owned subsidiary of Naver Financial. Market observers estimate a swap ratio of one Dunamu share for three Naver Financial shares, based on Dunamu's valuation of about 15 trillion won and Naver Financial's valuation of about 5 trillion won. The merger faces regulatory scrutiny from South Korea's Fair Trade Commission, which will examine whether the combination of the nation's leading payment platform and dominant crypto exchange could stifle market competition. Financial regulators are also expected to assess potential systemic risks from integrating volatile cryptocurrency operations with mainstream payment infrastructure. Both companies are expected to frame the consolidation as a strategic imperative rather than a bid for market dominance, arguing that Korean platforms must scale up and integrate blockchain technology to compete against global technology giants expanding into financial services. The merged company aims to build a "Web3" financial ecosystem combining Naver's extensive platform reach with Dunamu's blockchain expertise, positioning itself as a formidable challenger in Asia's rapidly evolving digital finance landscape. 2025-11-25 10:26:35

Kia's EV6 GT outperforms Model Y, Polestar 4 in German magazine's comparison test SEOUL, November 25 (AJP) - Kia’s high-performance EV6 GT has topped a comparative test by German automotive magazine Auto Motor und Sport, outperforming Tesla’s Model Y and the Polestar 4, the company said Tuesday. The publication, one of Germany’s most influential auto outlets, assessed the three models across seven categories: body, safety, comfort, powertrain, driving performance, environmental performance, and cost. The EV6 GT scored 597 points overall, ahead of the Model Y’s 574 points and the Polestar 4’s 550. Kia’s flagship EV delivered particularly strong results in the powertrain and driving performance categories, which examine output, acceleration, dynamics and handling. The EV6 GT delivers up to 448 kW — rising to 478 kW with launch control — outpacing the Model Y’s 378 kW and the Polestar 4’s 400 kW. It accelerates from 0 to 60 mph in 3.5 seconds, beating the Model Y’s 5 seconds and the Polestar 4’s 3.8 seconds. Mid-range acceleration was also a standout: the EV6 GT reached 62 mph from 37 mph in 1.5 seconds, faster than both rivals. The model also led the safety category, posting the shortest braking distance from 62 mph at 33.6 meters. The Model Y recorded 36.1 meters and the Polestar 4 stopped at 37.1 meters. “We are pleased that the EV6 GT performed so strongly against established competitors in a respected German publication,” a Kia spokesperson said. “We will continue expanding our EV lineup to deliver new electrification experiences to our customers.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 10:13:20

South Korea's central bank widely expected to freeze rate at Thursday's meeting: Survey Bank of Korea Governor Lee Chang-yong at the Oct. 23 monetary policy meeting/ Photo by Joint Press Corps SEOUL, November 25 (AJP) - The Bank of Korea is widely expected to keep its benchmark interest rate unchanged at 2.50 percent at its final policy meeting of the year, slated for Thursday, as it prepares to lift growth projections for both 2024 and 2025. The anticipated hold comes amid firmer economic activity and persistent concerns over a weak won, rising home prices and elevated household debt — factors that analysts say have effectively ended the rate-cut cycle that began last year. A survey by Aju Business Daily of 10 bond and macroeconomic analysts showed unanimous expectations for another rate hold at the Nov. 27 meeting, marking the fourth straight pause. Nine of the experts expect one dissenting vote in favor of a cut, while one respondent anticipates full consensus. Currency and property market pressures remain central to the bank’s cautious stance. The won has hovered over 1,470 per dollar recently. “With the exchange rate at 1,470 won, cutting rates is burdensome,” said Park Sang-hyun, an analyst at iM Securities. “Real estate prices in Seoul remain unstable, making a hold inevitable.” Cho Yong-gu of Shin Young Securities said stronger economic indicators and ongoing government efforts to stabilize housing and currency markets reduce the likelihood of a cut. “Economic forecasts are being revised upward. A rate cut seems unlikely,” he said. Markets are now watching for signals on whether the easing cycle has formally ended. Analysts say the key indicators will be the size of the revisions to next year’s growth outlook and the bank’s forward guidance through early 2026. A forecast that exceeds Korea’s potential growth rate — estimated at about 1.8 percent — would strengthen the case that no further cuts are coming. “If the growth forecast is raised to around 2 percent, expectations for a rate cut next year will diminish significantly,” said Ahn Ye-ha of Kiwoom Securities. Eighty-eight percent of surveyed experts expect the central bank to raise this year’s growth outlook from 0.9 percent to over 1 percent, and next year’s from 1.6 percent to 1.8–1.9 percent. Park of iM Securities said a revision is “highly likely,” citing the base effect and a recovery in the semiconductor sector. BOK Governor Lee Chang-yong has also hinted at a possible upgrade in the bank’s growth projections, reinforcing expectations that the easing phase is over. Four of analysts surveyed said the May rate cut marked the end of the cycle, with the central bank now entering a prolonged hold. Kang Seung-won of NH Investment & Securities expects the policy rate to eventually settle at 2.25 percent after the first half of next year, while noting that the exchange rate and updated growth forecasts remain crucial. Meritz Securities’ Yoon Yeo-sam predicted the 2.50 percent rate would likely stay in place through 2026. “We’ll see improved economic and inflation forecasts in this meeting,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 10:00:09

Seoul, Ankara agree to strengthen cooperation in defense, nuclear energy SEOUL, November 25 (AJP) - President Lee Jae Myung met with Turkish President Recep Tayyip Erdoğan in Ankara on Monday, where the two leaders agreed to enhance cooperation across various sectors. In a joint press conference after their talks, Lee began his remarks by saying that this year marks the 75th anniversary of Turkey's participation in the Korean War (1950–1953), referring to the country as a "brother nation." He added, "Bilateral relations have strengthened rapidly since the two countries established diplomatic relations in 1957." Citing Turkey's program to develop and produce its indigenous battle tank, Altay, Lee said, "We agreed to continue cooperating on defense-related projects to expand joint production, technological cooperation, and training exchanges." He pledged support for Turkey's project to build a nuclear power plant in Sinop, saying, "South Korea's advanced nuclear technology will contribute significantly to the project." Lee also expressed his hopes to expand cooperation in advanced high-tech sectors including renewable energy, artificial intelligence (AI), and digital technologies. After wrapping up his brief stop in Turkey, the final leg of his 10-day overseas trip, Lee is scheduled to return home on Wednesday. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 09:43:10