Bakery chain Paris Croissant to be split into operating, investment entities SEOUL, November 24 (AJP) - South Korea’s SPC Group said Monday it will divide its affiliate Paris Croissant into two separate business and investment entities as part of a corporate restructuring plan approved at a board meeting on Nov. 21. The company began notifying employees of the changes, which it said are intended to streamline decision-making and clarify the responsibilities of Paris Croissant, which also functions as a de facto holding company within the group. A shareholder meeting to finalize the plan will be held before the end of the year, SPC said. As part of the overhaul, Paris Croissant will merge with SPC Co., its wholly owned subsidiary that provides legal, public relations, and compliance support for the group. These functions will continue after the merger. SPC Group emphasized that all employees will remain in their current roles and that there will be no changes to pay, working conditions or benefits. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 16:18:37

South Korea's mobile download speeds triple global peers, report shows SEOUL, November 24 (AJP) - South Korea’s telecommunications operators delivered mobile download speeds more than three times faster than those in other major countries last year, according to a report released Monday by the Korea Telecommunications Operators Association (KTOA). Average download speeds across South Korea reached 1,025.52 Mbps in 2024, roughly 3.8 times higher than the 268.01 Mbps average recorded across seven benchmarked countries, the association said. The performance further cemented South Korea’s position as a global leader in mobile network quality. Even compared with the fastest overseas city surveyed — San Francisco, at 501.05 Mbps — South Korea’s download speeds were more than double. Upload speeds in South Korea averaged 90.12 Mbps, about 1.6 times higher than the 53.88 Mbps average overseas. Latency stood at 20.01 milliseconds, less than half the 53.64 milliseconds recorded in the comparison markets, indicating significantly more stable and responsive connections. The report noted that while 5G network quality continues to improve globally, many foreign cities still face coverage limitations, including inconsistent service on subway systems. South Korea also topped international rankings for public Wi-Fi performance. Public hotspots provided an average download speed of 463.55 Mbps, nearly 10 times the 48.26 Mbps average measured abroad. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 15:52:25

South Korean man found dead in bag in Viet Nam SEOUL, November 24 (AJP) - The body of a man believed to be South Korean was discovered inside a large bag in Viet Nam, the Ministry of Foreign Affairs said on Monday. According to the South Korean Consulate General there, the body was found inside a large blue bag near a residential area in Ho Chi Minh City the previous day. "We are in close communication with local authorities and will provide necessary consular support," said a ministry official, declining to give further details, citing that "the relevant investigation is ongoing." Local police identified the body as South Korean and cordoned off the area. Two South Korean suspects, who reportedly fled the scene by taxi as bystanders gathered, are being questioned after their arrest. Police are working to determine the time and cause of death as the body was found in a state of decomposition. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 15:17:56

Hanwha Ocean hosts Canadian industry chief in bid for submarine project SEOUL, November 24 (AJP) - Canadian Industry Minister Mélanie Joly visited Hanwha Ocean’s shipyard in Geoje on Monday, underscoring Ottawa’s deepening evaluation of Hanwha’s bid in Canada’s 60-trillion-won submarine procurement project. Joly’s trip follows a visit by Canadian Prime Minister Mark Carney on Oct. 30. Although she had originally planned to accompany him, Joly was unable to due to scheduling conflicts, the company said. At the Geoje facility, Hanwha Ocean executives — including CEO Kim Hee-chul — gave Joly a tour of two of its advanced vessels: the newly launched Jang Yeong-sil and Jang Bogo-III Batch II submarines. The visit is seen as a signal that Canada is not only assessing military capability but also weighing broader industrial and economic cooperation. The Canadian industry ministry plays a pivotal role in shaping strategy around industrial policy, supply chains, and the country’s economic security under the Carney government. The submarine procurement project, originally conceived as a defense acquisition, has evolved into a strategic industrial policy initiative. Hanwha Ocean described Joly’s visit as signifying “a deeper evaluation of the project's industrial, technological, and economic feasibility,” distinct from the more symbolic nature of the prime minister’s earlier visit. During Carney’s trip, Hanwha representatives pitched a wide-ranging offer to Canada, covering not just submarines but potential cooperation in defense, space, sustainable energy, and critical minerals. CEO Kim said Joly’s visit “marks the project's transition into a truly competitive phase,” and pledged that Hanwha Ocean would deliver “optimal solutions for the Canadian Navy while acting as a reliable partner for Canada’s industrial growth.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 15:05:02

Activist fund presses Stick Investment for succession plan, share buyback SEOUL, November 24 (AJP) - Activist fund Align Partners Capital Management has publicly urged private equity firm Stick Investment to disclose its leadership succession plan and carry out a share buyback. Align, which holds a 7.63 percent stake, released an open letter on Monday demanding that the company present a value-enhancement roadmap by Jan. 19. The fund argued that Stick Investment remains significantly undervalued, noting that its return on equity stood at just 0.3 percent in the 12 months through the third quarter, despite managing more than 10 trillion won in assets. Align said the company’s long operating history, industry networks and investment expertise — a set of “intangible assets” accumulated over 26 years — should support a higher valuation. Align called for internal reforms, including a clear succession plan and a revamped compensation structure. It proposed using half of Stick Investment’s treasury shares to offer stock-linked incentives to future leaders and to attract key talent, with the remaining shares to be canceled to reduce dilution. The activist fund also urged the firm to make greater use of leverage and pursue strategic investments to increase assets under management and expand earnings. It further requested a long-term growth strategy and improvements in board independence and expertise. Align criticized what it described as insufficient communication with shareholders, particularly regarding employee stock compensation involving 22.19 percent of treasury shares issued as restricted stock units. Align said it became a shareholder in February last year and has since held four private meetings and sent five letters to management without meaningful progress — prompting the move to a public campaign. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 14:45:38

South Korea boasts fastest mobile download speeds in world SEOUL, November 24 (AJP) - South Korea's three major telecom companies have been found to offer download speeds more than three times faster than those in major countries worldwide. According to a report released by the Korea Telecommunications Operators Association (KTOA) on Monday, their average download speed last year was 1,025.52 megabits per second (Mbps), about 3.8 times higher than the 268.01 Mbps recorded across seven surveyed countries including Japan, Germany, and the U.S. Even compared to the fastest U.S. city, San Francisco, which recorded 501.05 Mbps, South Korea's speeds are more than twice as fast, cementing the country's leading position in telecom service quality. The average upload speed in South Korea was 90.12 Mbps, 1.6 times higher than the surveyed countries' average of 53.88 Mbps. While 5G quality is improving worldwide, South Korea maintains its edge, with some foreign cities still struggling to provide reliable service in areas such as subways. Public Wi-Fi in South Korea also ranks among the best, with an average download speed of 463.55 Mbps—nearly 10 times the average of 48.26 Mbps in other countries. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 14:44:01

PHOTOS: Christmas scenes across Seoul SEOUL, November 21 (AJP) - With Christmas now only a month away, early holiday scenes are appearing throughout central Seoul. Large trees have been set up in major plazas and along busy streets, and rows of ginkgo and pine are wrapped in bright seasonal lights. Visitors pause to take photos against the glowing decorations, enjoying the quiet excitement that settles over the city at the end of the year. 2025-11-24 14:30:33

PHOTOS: Gangwon's ski season officially opens SEOUL, November 24 (AJP) - With the early cold settling in this year, two major resorts in Gangwon Province — Yongpyong Ski Resort and Phoenix Park in Pyeongchang — opened their slopes on November 21 to mark the start of the 2025–2026 winter season. During the first weekend after opening, November 22–23, the two resorts drew an estimated 5,500 visitors at Yongpyong and about 4,100 at Phoenix Park. Skiers and snowboarders who had been waiting for winter crowded the lift lines, their anticipation visible even as they waited for their turn. 2025-11-24 14:25:34

Lee's approval rating edges up to 55.9% SEOUL, November 24 (AJP) - President Lee Jae Myung's approval rating has inched up to 55.9 percent, up 1.4 percentage points from the previous week, pollster Realmeter said on Monday. According to the nationwide poll of over 2,500 people aged 18 and older conducted from Nov. 17 to 21, some 40.5 percent of respondents disapproved of Lee's performance, down 0.7 percentage points. The uptick in approval was attributed to his recent diplomatic achievements including a US$150 billion memorandum of understanding (MOU) signed during his tour of the Middle East and South Africa, while worsening financial indicators such as the country's benchmark KOSPI falling below 3,900 points and a deteriorating won against the dollar may have influenced unfavorable views. In a separate survey of over 1,000 respondents last week, the ruling Democratic Party (DP) garnered 47.5 percent of support, up 0.8 percentage points from a week ago, while the main opposition People Power Party (PPP) suffered a further slide to 34.8 percent, down 0.6 percentage points. The minor Reform Party and the Rebuilding Korea Party earned 3.8 percent and 2.9 percent, respectively, followed by the left-wing Progressive Party at 1.1 percent. Both surveys were conducted via automated phone responses, with participation rates of 4.8 percent and 3.7 percent. More details are available on the National Election Commission's website. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 14:18:31

South Korea's HD Hyundai secures biggest container ship deal since 2007 SEOUL, November 24 (AJP) - HD Hyundai has secured its biggest container ship order since the 2007 shipbuilding boom, landing a deal worth 2.13 trillion won ($1.44 billion) to build eight ultra-large container vessels for South Korean carrier HMM. HD Korea Shipbuilding & Offshore Engineering, the group’s shipbuilding arm, said Monday it signed a contract to construct eight 13,400 TEU container ships equipped with LNG dual-fuel engines. The ships — each 337 meters long, 51 meters wide and 27.9 meters high — will be delivered by the first half of 2029. Two will be built by HD Hyundai Heavy Industries and six by Hyundai Samho Heavy Industries. The vessels will feature enlarged fuel tanks and dual-fuel propulsion systems designed to boost efficiency and reduce emissions. HD Hyundai said the order marks its largest for container carriers in nearly two decades, underscoring a rebound in demand as global shipping companies invest in greener, more fuel-efficient fleets. The win also caps a strong year for the shipbuilder, which has booked orders for 72 container ships totaling 720,000 TEUs, the highest among South Korean shipyards. Despite carrying higher price tags than rivals, HD Hyundai’s ships are widely regarded as cost-effective over their full operating life, the company said. Since 2023, the company has outfitted its vessels with HiNAS Control, an autonomous navigation and voyage-optimization system developed by Avikus. HD Hyundai says the system has improved fuel efficiency by 15 percent and cut carbon emissions by a similar margin in real-world operations. “We are strengthening our position in the global market with our proprietary technology and customer confidence,” the company said in a press release. “We will continue to lead the decarbonization of shipbuilding and shipping with eco-friendly, high-efficiency vessels.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-24 13:45:06