Man arrested after knife attack on woman in southern Seoul SEOUL, November 21 (AJP) - A man was arrested after attacking a woman in her 20s with a knife at a crammer in Seoul's affluent district of Gangnam on Friday. According to police, the man fled the scene shortly after the incident, which occurred around 11:50 a.m. in Sinsa-dong, but was later apprehended in Mapo, western Seoul, after authorities tracked him using CCTV footage. The victim was taken to a nearby hospital with minor injuries, and police are investigating the details of the incident. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 14:06:43

National Museum of Korea set to open new gallery showcasing Islamic art SEOUL, November 21 (AJP) - The National Museum of Korea is set to open a new gallery featuring Islamic-themed art on its third floor starting Saturday. The exhibition is divided into three themes: religious art, cultural expansion, and court culture and manuscripts, covering Islamic art from the 7th to the 19th century. The first section showcases the essence of Islamic calligraphy, from early Quran manuscripts on parchment to large manuscripts from the Timurid Empire. Architectural elements like mihrab panels, mosque lamps, and prayer carpets are adorned with arabesque and geometric patterns, creating a sacred atmosphere. The gallery's dome and octagonal design are expected to enhance the immersive experience. The second section features astrolabes and celestial globes, highlighting Islamic curiosity about new worlds. Glass, ceramics, and metalwork crafted by Islamic artisans demonstrate the fusion of diverse artistic traditions. The third section focuses on the artistic and scholarly achievements of the Ottoman, Safavid, and Mughal empires. Luxurious carpets, textiles, and jewelry reflect imperial authority and sophistication. Manuscripts, supported by royal patronage, are celebrated as comprehensive cultural heritage, blending religion, literature, history, and science. An online preview of the gallery, led by curator Kwon Hye-eun, is scheduled for streaming on the museum's YouTube channel Friday evening. On Saturday at 1:00 p.m., Dr. Munia Sheikhab Abudaya, assistant curator at the museum will give a lecture on Islamic art. Visitors can attend on a first-come, first-served basis, and no reservations are necessary. Yoo Hong-jun, director of the museum, expressed hope that visitors will gain a deeper understanding of Islamic culture and appreciate the diversity and coexistence of human cultures. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 13:55:08

South Korea's biggest lenders move to curb home purchase loans SEOUL, November 21 (AJP) - KB Kookmin Bank and Hana Bank, two of South Korea’s largest lenders, said they will suspend new home purchase loans through the end of the year, a move that is expected to be followed by other major banks and could create a year-end “loan cliff” for prospective buyers. According to industry officials, KB Kookmin Bank will stop accepting new mortgage applications for home purchases beginning Nov. 22 on its online platforms and Nov. 24 at branches. The bank will also halt refinancing products from other lenders and suspend online credit loans starting Nov. 22. Hana Bank had already announced plans to curb new applications for mortgages and lease loans beginning Nov. 25, citing the need to control lending volumes amid heightened regulatory scrutiny. A KB Kookmin Bank spokesperson said the measures were intended to “maintain the soundness of our year-end household loan portfolio,” emphasizing that loans for living expenses — including home equity and lease loans — will continue to be available through December. The restrictions come as the government is making an all-out effort to rein in home prices in Seoul and surrounding areas. Banks also face pressure to manage rapidly expanding household debt, long considered one of the most persistent risks to South Korea’s financial stability. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 13:30:00

Korea's Hanwha and Emirati defense group EDGE upgrade air defense partnership Hanwha Aerospace signs MOU with UAE’s EDGE Group to expand defense AI cooperation SEOUL, November 21 (AJP) - South Korea's defense firm Hanwha Aerospace and Emirati state-owned defense conglomerate EDGE Group on Friday announced they have signed a memorandum of understanding (MoU) to expand joint develpment across advanced air and missile defense, long-range precision strike, unmanned systems, and defense AI. Under the agreement signed during the Dubai Airshow 2025 this week, the two defense majors will enter a range of cooperative programs such as advanced air-defense technologies that could enable integrated, multi-layered defense architectures tailored to the UAE’s future needs. The agreement follows recent high-level talks between South Korean and Emirati leaders during a state visit by President Lee Jae Myung and is intended to deepen bilateral cooperation in advanced defense and industrial technologies through public-private collaboration. Under the MOU, the companies will prioritize co-developing an AI platform for smart radar and unmanned ground vehicles (UGVs). The program will integrate environmental data collected in the UAE’s desert terrain with Hanwha’s AI models to build a Middle East-optimized smart-radar AI solution. EDGE’s Milrem Robotics — the Estonian-founded firm acquired by EDGE and developer of the tracked UGV THeMIS — will work with Hanwha on an autonomous-driving AI platform for next-generation UGVs. The THeMIS platform has accumulated extensive operational data from deployments in Ukraine, which the companies expect will enhance autonomous-mobility capabilities in Middle Eastern environments. Hanwha will also assist in upgrading the UAE’s layered air-defense architecture and support the establishment of an integrated maintenance, repair and overhaul (MRO) center for air-defense systems. The initiative includes enhancing existing medium- and short-range systems to improve interoperability. Additionally, Hanwha plans to broaden cooperation with Abu Dhabi Ship Building (ADSB), a subsidiary of EDGE, across ship repair, unmanned-surface-vessel development, and large-vessel design and construction. Sung Il, president of Hanwha Aerospace Middle East & Africa, said the Korea–UAE partnership in AI defense technology “can propel South Korea into the ranks of the world’s top three defense-AI powers,” adding that a joint venture could be considered to accelerate cooperation if needed. Khaled Al Zaabi, President – Platforms & Systems, EDGE, said, "This understanding reflects a shared ambition to advance the next generation of defence capabilities. Hanwha’s strengths across key domains, combined with our growing industrial base, create momentum for systems that strengthen national resilience and expand the UAE’s role as a leader in advanced technology. We see real potential to shape programmes that deliver lasting value for both nations.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 13:26:19

Polestar CEO touts Busan plant as key export hub for North America SEOUL, November 21 (AJP) - Michael Loscheller, chief executive of Polestar, stressed the strategic value of the company’s new production base in Busan, describing it as a critical link between Asian manufacturing and North American demand. Speaking to reporters in Seoul on Nov. 20, Loscheller said the plant has begun trial production of the Polestar 4 destined for North American markets. The facility, operated by Renault Korea, underwent a major upgrade this year to prepare for electric-vehicle assembly. Production was halted for five weeks while workers installed 68 new pieces of equipment. Loscheller said he recently saw the first Busan-built Polestar 4 vehicles arrive in Canada, a milestone he said highlights the plant’s growing importance to the company’s global supply chain. Polestar has no immediate plans to sell Busan-produced Polestar 4s in South Korea, but Loscheller suggested that could change, calling North American shipments “just the beginning.” He said quality considerations and U.S. tariffs on Chinese-made electric vehicles played a key role in choosing Busan as a manufacturing base. The company is enjoying strong momentum in South Korea, where sales climbed to 2,513 vehicles between January and October, up 484 percent from a year earlier. The Polestar 4, launched in August 2024, accounted for 2,167 of those deliveries. Loscheller credited the model’s design, sustainability features and performance for driving the surge, adding that Polestar intends to build on those strengths. Looking ahead, Polestar plans to introduce two higher-end models—the Polestar 3, a large electric SUV, and the Polestar 5, a grand tourer — positioned above the Polestar 4. Loscheller said he expects the new vehicles to further accelerate the brand’s growth both globally and in South Korea. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 13:22:24

Asian shares tumble on renewed U.S. tech rout, exposing regional market fragility SEOUL, November 21 (AJP) - Asian markets slid on Friday as a fresh selloff in U.S. tech reignited “AI bubble” fears and laid bare how deeply regional sentiment is tethered to Wall Street’s semiconductor cycle. Overnight, all three major U.S. indexes fell. Nvidia cooled 3.15 percent to $180.64, reversing its brief rebound. AMD plunged 7.84 percent to $206.02, while Micron Technology tumbled 10.87 percent to $201.37, clinging just above the psychologically important $200 line. South Korea’s KOSPI skidded 3.4 percent to 3,866 as of 10:30 a.m., slipping back below 3,900 after a brief recovery above 4,000 level on the previous day. Foreign investors dumped 1.58 trillion won ($1.1 billion) of Korean equities — the steepest net selling among major Asian markets — as concerns mounted over an AI-driven correction, a rapidly weakening won, and the index’s heavy concentration in a handful of mega-cap tech names. Retail investors scooped up 1.37 trillion won in dip-buying, while institutions added 243 billion won. SK hynix plunged 7.71 percent to 527,000 won, posting the sharpest loss on the main board. Samsung Electronics fell 4.57 percent to 96,000 won. The AI selloff spilled over into Korea’s power-equipment and nuclear-related names: Doosan Enerbility slid 5.7 percent to 73,300 won, and Hyosung Heavy Industries extended losses to 1,915,000 won. Still, pockets of resilience emerged. Lotte Energy Materials — which supplies copper foil used in Nvidia GPU substrates — gained 3.6 percent to 40,400 won. Naver rose 1.6 percent to 261,000 won on reports that it is making progress toward a merger with Dunamu, operator of Korea's largest virtual-asset exchange. Japan’s Nikkei 225 fell 1.8 percent to 48,928, a softer decline than Seoul’s but still burdened by the tech rout. Nvidia-linked suppliers were slammed: Advantest sank 10.3 percent to 18,695 yen, while Ibiden slid 8.3 percent to 11,495 yen. Some stocks, however, provided upside. Olympus jumped 5.24 percent to 2,098 yen after strong second-quarter results and a deeper push into medical devices. M3 added 7 percent to 2,637 yen. Mitsubishi Estate climbed 4.3 percent to 3,496 yen despite renewed chatter about yen carry-trade unwinding as the Bank of Japan inches closer to rate hikes. Taiwan’s TAIEX slid 2.9 percent to 26,638. TSMC dropped 3.44 percent to 1,405 Taiwan dollars, and MediaTek lost 3.4 percent to 1,145 Taiwan dollars. Chinese markets also softened. The Shanghai Composite dipped 1.1 percent to 3,887, while Hong Kong’s Hang Seng Index lost 1.58 percent to 25,428, tracking the broader tech downturn across the region. 2025-11-21 11:23:48

Coupang reports data breach affecting 4,500 customers SEOUL, November 21 (AJP) - Coupang, South Korea's leading e-commerce giant, said Friday it has detected a data breach affecting 4,500 customers. It informed customers the previous day that unauthorized access to personal information including names, email addresses, and order and delivery details was detected on Tuesday. After discovering the breach, Coupang blocked the access route used by the unknown third party. The company added that there is currently no evidence the stolen data has been misused but is monitoring for any potential harm. Coupang reassured customers that their payment information is secure, but advised them to remain cautious for suspicious messages or calls pretending to be from the company. The incident has been reported to relevant government agencies including the Ministry of Science and ICT. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 11:22:10

North Korean leader attends ceremony for new hydropower plant SEOUL, November 21 (AJP) - North Korean leader Kim Jong-un attended a ceremony marking the completion of a hydropower plant in Kangwon Province, state media reported on Friday. According to the state-run Rodong Sinmun, Kim visited the plant the previous day, the sixth to be built in the region amid the country's chronic electricity shortage. In his speech, Kim described the plant's completion as a significant achievement, praising the collaboration between the military and civilians in its construction and calling it a "fortress of socialist belief." The visit came just a few days after Kim attended the grand opening of a hospital near Pyongyang earlier in the week. These visits appear to be part of efforts to boast his key projects aimed at boosting the local economy ahead of the country's Party Congress, slated for early next year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 11:07:37

Hyundai's Casper Electric wins Germany's Golden Steering Wheel Awards SEOUL, November 21 (AJP) - Hyundai Motor’s Casper Electric has been named the “Best Car Under 25,000 Euros” at the 2025 Golden Steering Wheel Awards, one of Europe’s most influential automotive honors, the company said Friday. The award underscores the model’s rising prominence in Germany’s fiercely competitive small electric vehicle segment. Hyundai has been steadily broadening its EV lineup, building on the success of the Ioniq 5, and the Casper Electric has emerged as a key pillar of that strategy. As of October 2025, Hyundai has sold more than 30,000 units of the Casper Electric in Europe, with Germany accounting for roughly 31 percent of total sales. The model now dominates Germany’s small EV market with a share exceeding 35 percent, outpacing rivals including the Fiat 500 and Dacia Spring. First established in 1976, the Golden Steering Wheel Awards are jointly organized by Auto Bild and Bild am Sonntag and are widely regarded as among the most prestigious distinctions in the European auto industry. This year’s awards evaluated 72 vehicles across 13 categories, with assessments conducted by a panel of 17 expert judges. Judges praised the Casper Electric for its practicality, generous interior space relative to its size, fast-charging capability of up to 85 kW and competitive price point. “Casper Electric offers an accessible mobility solution for everyday life,” said Javier Martinet, Hyundai’s head of European operations. “Hyundai will continue expanding its electric lineup — from the Casper Electric to the Ioniq 9 — with a focus on advanced technology and design.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 10:20:51

Firefighters struggle to contain wildfire in Inje SEOUL, November 21 (AJP) - Firefighters are still battling a wildfire in the mountainous areas of Inje, Gangwon Province, with about 60 percent of the flames contained as of early Friday morning. According to the Korea Forest Service, more than 300 rescue officials were mobilized overnight to extinguish the blaze which broke out at around 5:30 p.m. the previous day, but the rugged mountain ranges made the operation difficult. Additional helicopters were also deployed at sunrise to help fully extinguish the fire. The affected area is estimated at 20 hectares, or roughly 49 acres. No injuries have been reported, but about a dozen villagers have evacuated to a temporary shelter. Once the fire is fully contained, fire authorities will investigate the cause and assess the damage. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-21 10:16:28