Despite drone boom, South Korea lags behind amid heavy reliance on Chinese components SEOUL, November 14 (AJP) - South Korea's exports of drones have grown nearly tenfold over the past two years, yet the country still holds less than 0.5 percent of the global market. According to a report released on Friday by the Korea International Trade Association (KITA), the country's exports of drones surged from $2.81 million in 2022 to $27.54 million in 2024. "Despite the rise in export volumes, the country's market competitiveness still lags far behind that of major overseas players," said Kim Mu-hyun, a senior researcher at the KITA. Although the number of drone manufacturers has increased in response to surging demand in this nascent high-tech industry, many lack sufficient infrastructure and R&D facilities, hindering further growth. Among some 265 drone manufacturers surveyed by the Korea Institute of Aviation Safety Technology in 2023, only 71 had such facilities, forcing many of them to conduct limited experiments that constrain consistent research and development." Profitability is another concern for the industry. Last year's survey by the Ministry of Land, Infrastructure and Transport found that the country's drone market grew 12.1 percent to 1.1 trillion Korean won ($754 million) in 2023 from the previous year. However, of nearly 7,000 firms in the industry, average revenue stood at a mere 200 million won. According to market researcher Hana Institute of Finance, even firms with more than seven years in the industry posted average annual sales of just 350 million won. Among the major global players, China dominates the market, accounting for nearly 90 percent, followed by the U.S. and Israel. South Korea ranked 20th as of 2024, although it had jumped significantly over the previous three years. Most domestic firms have heavily relied on Chinese imports for essential parts and components, which account for nearly 70 percent of all drones made here. "In the long term, localization of core components is essential," Kim said. "But The country's heavy reliance on Chinese imports is not simply due to a lack of technical capability, but stems from structural issues such as low profit margins, often linked to a focus on low-cost models for civilian use," he explained. He added that developing commercial models is crucial for nurturing the industry, as this would stimulate demand among businesses, creating a virtuous cycle that increases the use of locally produced components. For example, in the U.S., retail giant Walmart has partnered with startups such as DroneUp, Zipline, and Flytrex to roll out drone-based commercial delivery services, leveraging its nationwide store network and IT infrastructure to provide these startups with stable demand. Swedish DIY retailer IKEA has deployed autonomous indoor drones developed by local startup Verity since 2021 to track and manage inventory across more than a dozen stores in Belgium, Germany, and other countries. 2025-11-14 17:15:47

HOT STOCK: ABL Bio extends rally as Eli Lilly deal spurs biotech optimism SEOUL, November 14 (AJP) - Shares of South Korean biotech company ABL Bio rose 6.5 percent Friday to 174,200 won ($119), extending a three-day rally that has propelled the stock into the top tier of the local market. At one point during trading, the stock jumped more than 17 percent. The surge follows ABL Bio’s announcement Wednesday of a major licensing agreement with U.S. pharmaceutical giant Eli Lilly. The deal, which could ultimately be worth up to 3.8 trillion won ($2.6 billion), is the third-largest technology transfer agreement in South Korea’s history. Under the terms, ABL Bio will receive a $40 million upfront payment and up to $2.56 billion in milestone payments, along with tiered royalties on future product sales. The stock gained 30 percent Wednesday and added 29 percent Thursday, reflecting investor enthusiasm over the high-profile partnership. Eli Lilly, based in Indianapolis, is one of the world’s most valuable pharmaceutical companies and ranks 100th on the Fortune 500 and 138th on the Forbes Global 2000. Kyobo Securities analyst Jung Hee-ryeong raised her target price for the company to 190,000 won and assigned a “buy” rating, noting that ABL Bio is “on track to reach 10 trillion won ($6.85 billion)” in market capitalization. As of Friday’s close, the company’s market cap stood at 9.6 trillion won ($6.56 billion), just shy of that milestone. Jung highlighted several upcoming catalysts for the stock. The company’s Grabody-B platform has already generated 9.2 trillion won in cumulative deals, and positive interim results from a Phase 2 clinical trial expected in 2026 could further boost its valuation. A joint study with Ionis Pharmaceuticals assessing the platform’s muscle-delivery potential is scheduled for publication in December, potentially expanding the platform’s perceived versatility. Additional drivers include new licensing agreements, data from ABL001’s bile duct cancer treatment, and accelerated approval filings expected in the first half of next year. Korea’s broader biotech sector has also gained momentum. The KRX Healthcare Index, which tracks 66 pharmaceutical and biotech companies, has risen 9 percent so far this month, outperforming the KRX Semiconductor Index, which gained 1.6 percent. Analysts expect the biotech rally to extend into early 2026, supported by deal activity, clinical trial updates, and the potential for U.S. interest rate cuts. Korea Investment & Securities recommended a range of firms with licensing potential — including LigandChem Bio, D&D Pharmatech, Hanmi Pharmaceutical, AprilBio, and Kolon TissueGene — alongside ABL Bio. “The ABL Bio–Eli Lilly deal revived investor confidence in Korean biotech firms’ global competitiveness,” said Wi Hae-joo, an analyst at Korea Investment & Securities. 2025-11-14 17:09:10

Samsung showcases AI-powered 6G communication in Silicon Valley SEOUL, November 14 (AJP) - Samsung Electronics on Friday hosted the Silicon Valley Future Wireless Summit 2025, showcasing its latest strides in artificial intelligence-driven communication systems and reaffirming its position at the forefront of next-generation 6G technology. The event drew more than 100 leaders from global telecom carriers, equipment manufacturers, government agencies, and academia. Samsung used the summit to present its advances in AI-native communication systems — technologies that integrate artificial intelligence directly into network infrastructure — and to demonstrate its AI-RAN (AI-based Radio Access Network) platform, which autonomously optimizes network performance using self-learning algorithms. The conference covered topics such as extended reality, sensing-communication convergence, AI-enabled wireless optimization, and predictive network maintenance, the company said. Jeong Jin-guk, executive vice president and head of Samsung's Advanced Communications Research Center, said the company aims to “maximize user experience and network efficiency by integrating AI into communication systems” and pledged to continue strengthening global partnerships to advance next-generation network technologies. 2025-11-14 16:53:40

Asian stocks tumble as Wall Street tech selloff, Fed uncertainty weigh on region SEOUL, November 14 (AJP) - Asian markets tumbled on Friday, dragged down by a sharp selloff in Wall Street’s biggest technology names and growing doubts over the Federal Reserve’s timetable for cutting interest rates. South Korea bore the brunt of the regional downturn. The benchmark KOSPI plunged 3.81 percent to close at 4,011.57, marking the steepest decline among major Asian indexes. Foreign investors offloaded 2.36 trillion won, or about $1.6 billion, in Korean shares, while institutional investors shed an additional 900 billion won. Retail traders stepped in as contrarians, buying a net 3.23 trillion won in a bid to scoop up battered blue chips. The selloff hit South Korea’s tech heavyweights particularly hard. Samsung Electronics sank 5.45 percent to 97,200 won, while SK hynix slid 8.5 percent to 560,000 won, tracking overnight losses in Nvidia and Tesla and a steep drop in the Philadelphia Semiconductor Index. Losses spread across sectors, but parts of the market found support after Seoul and Washington released a long-awaited tariff negotiation fact sheet during trading hours. HD Hyundai Heavy Industries rose 3.17 percent to 586,000 won, while Hanwha Ocean, owner of Philly Shipyard in the U.S., pared earlier losses to finish 1.07 percent lower at 129,100 won, after having fallen to 125,700 won. Elsewhere in the region, Japan’s Nikkei 225 dropped 1.77 percent to 50,376.53. SoftBank Group plunged 6.57 percent to 19,780 yen, while Furukawa Electric — whose shares had previously surged on AI optimism — slumped 9.47 percent. China’s Shanghai Composite Index fell 0.97 percent to 3,900.49 as investors trimmed exposure to risk assets amid fading expectations of a December U.S. rate cut. Taiwan’s TAIEX slid 1.81 percent to 27,397.50, with chip giant TSMC down 2.05 percent to 1,430 Taiwan dollars, leading declines across semiconductor and AI-linked stocks. Hong Kong’s Hang Seng Index was 1.77 percent lower at 26,545 late in the afternoon. Xiaomi fell 2.53 percent to 42.4 Hong Kong dollars during the broad tech pullback. 2025-11-14 16:44:30

Belgium marks King's Day in Seoul with focus on deepening ties SEOUL, November 14 (AJP) - The Embassy of the Kingdom of Belgium hosted a King's Day reception in Seoul on November 13, 2025, bringing together about 200 diplomats, business figures, academics, and media representatives at the Four Seasons Hotel. The evening combined national-day tradition with a look ahead to the 125th anniversary of Belgium–South Korea diplomatic relations next year. Opening his remarks, Ambassador Bruno Jans greeted the audience by saying, "Good evening, friends of Belgium," before reflecting on the roots of King's Day and the Belgian monarchy. He noted that the occasion pays tribute to Belgium's first king, Leopold I, and added, "This year marks the 12th anniversary of His Majesty King Philippe's accession to the throne." The ambassador emphasized that 2026 will be a significant year for both countries. "2026 will mark 125 years of diplomatic relations between Korea and Belgium, established in 1901," he said, recalling the history that links the two nations. He also pointed to another milestone next year, noting, "It will also mark 75 years since Belgian troops arrived during the Korean War." The embassy held a design competition for the 125th anniversary emblem, which drew 58 submissions from Belgium and South Korea. "Good things come in pairs," the ambassador said as he explained that the anniversary of bilateral relations and the wartime commemoration would frame next year's program of events. Reflecting on recent exchanges, the ambassador said Belgium had seen a year of "high-level visits," and highlighted the growing number of cultural and educational links. He also welcomed progress toward establishing a Belgian chamber of commerce in South Korea to support business cooperation. The reception featured performances by cellist Kang Seung-min, a laureate of the Queen Elisabeth Competition in Brussels, along with the saxophone quartet S.with. Guests continued conversations over the reception that followed, sharing views on the busy year of commemorative events planned for 2026. 2025-11-14 16:34:56

Beloved bagel chain becomes flashpoint in Korea's labor reckoning SEOUL, November 14 (AJP) - On most mornings, the line outside London Bagel Museum used to stretch down the block, a testament to the artisanal bakery chain’s grip on South Korea’s cafe-obsessed culture. Now the street is quiet, its pause in foot traffic reflecting a deeper national unease. The sudden death of a 26-year-old employee at the chain has ignited a furious backlash over long-standing labor abuses in the country’s food and beverage sector, where exacting hours, precarious contracts and relentless customer demand have long been treated as the price of success. According to data released by the National Assembly, London Bagel Museum recorded 63 industrial accidents approved for state compensation between 2022 and September 2025 — more than far larger food conglomerates such as SPC Samlip. Labor authorities have begun expanding inspections across the chain’s affiliates, citing evidence of repeated violations. The victim, a young worker at one of the brand’s busiest locations, had reportedly logged up to 80 hours in the week before he died, with months of 58-hour averages preceding it. The company has denied wrongdoing, attributing discrepancies to “attendance system errors,” while declining to hand over full timecard records to investigators. Employees say the problem runs deeper. Workers have described signing one-month “split contracts” designed to evade overtime obligations and being ordered to publicly read written apologies during morning meetings for small mistakes — a form of humiliation management that labor organizers say is common in the franchise sector. The scandal has revived memories of earlier tragedies. In 2022, a young worker was killed in a mixing machine at an SPC Group factory, prompting promises of sweeping reforms and a pledge to spend 1 trillion won ($730 million) on safety upgrades. Another worker died less than a year later. Watchdog groups note that only 0.3 percent of the promised funds appear to have gone toward hiring safety personnel. Behind the recurring crises is a structural problem, experts say: the nation’s labor protections were designed for mid- and large-sized companies, not for the patchwork of tiny franchise units that dominate the booming F&B landscape. “The core problem is that Korea’s labor law focuses on regular employees in larger firms, while most franchises operate with fewer than five workers,” said Lee Joo-hee, a sociology professor at Ewha Womans University. “These workers — often young and temporary — end up excluded from even basic protections like limits on working hours.” Government data show F&B employees work an average of 50.2 hours a week, the highest of any service industry. More than one-third are part-time or irregular workers. Yet the domestic bakery market has continued to swell, reaching 8.4 trillion won ($6.3 billion) last year, fueled by demand for premium brands like London Bagel Museum and SPC’s La Granus. Labor activists say that unless the government addresses the proliferation of subcontracting, unstable employment arrangements and enforcement gaps, the tragedies will only continue. The Labor Ministry is now reviewing new regulations that would mandate direct employment and full disclosure of work-hour data across the industry. For now, the crowds have thinned, and the country’s most sought-after bagel shop has become an unsettling symbol of a deeper crisis. What once looked like a booming culinary success story is now a stark reminder of the workers who kept it running — and the system that failed them. 2025-11-14 16:28:48

US to cap tariffs on Korean pharmaceuticals at 15 percent SEOUL, November 14 (AJP) - The United States has agreed to cap tariffs on South Korean pharmaceutical products at 15 percent, offering welcome relief to an industry that had faced threats of tariffs as high as 100 percent. The commitment was outlined in a joint fact sheet issued Friday (KST) by the White House and South Korea’s presidential office, following last month’s bilateral summit. The document states that Washington will ensure tariffs on Korean pharmaceutical goods do not exceed 15 percent. The agreement is tied to Seoul’s sweeping $350 billion investment plan in the U.S., with $200 billion earmarked for strategic industries and $150 billion for shipbuilding. In return, reciprocal U.S. tariffs on Korean automobiles, parts and other products will be lowered from 25 percent to 15 percent. “We view this as a very positive and fortunate outcome — pharmaceutical goods have been confirmed to receive most-favoured-nation treatment with a 15 percent tariff,” said the Korea Pharmaceutical and Bio-Pharma Manufacturers Association in a statement. The association noted that while generic drugs will maintain duty-free status, the fact sheet did not mention biosimilars, a gap it said will require monitoring. Likewise, the Korea Biotechnology Industry Organization welcomed the affirmation and said Korean firms were prepared for the worst. “Most domestic pharmaceutical and biotech companies expanding into the U.S. market — such as Celltrion — have taken steps to minimise tariff burdens by establishing contract-manufacturing facilities in the United States, so the impact is expected to be limited,” the organisation said. 2025-11-14 15:53:09

Lee to embark on South African trip for G20 summit SEOUL, November 14 (AJP) - President Lee Jae Myung will embark on a trip to attend the Group of 20 (G20) summit in South Africa next week, National Security Adviser Wi Sung-lac said during a press briefing on Friday. The multilateral gathering of global leaders is scheduled to take place in Johannesburg from Nov. 22 to 23, marking the first G20 summit held on the African continent. Lee is set to depart for the United Arab Emirates (UAE) on Monday, followed by a visit to Egypt before heading to South Africa. After a brief stop in Turkey, he is scheduled to return home on Nov. 26. 2025-11-14 15:04:03

Indian Film Festival opens in Seoul with focus on storytelling and cultural ties SEOUL, November 14 (AJP) - The 13th Indian Film Festival opened this week at the Korean Film Archive in Seoul, bringing a lineup of award-winning and widely acclaimed films to audiences in South Korea. The festival, organized by the Embassy of India together with local partners, began on November 12 with an evening ceremony attended by diplomats, cultural officials and film enthusiasts. Deputy Chief of Mission Nishi Kant Singh welcomed guests by noting how the festival has become a meeting point for shared cinematic appreciation. "Each year, the Indian Film Festival unites us in a powerful celebration of storytelling, deepening our collective cinematic bond and honoring the boundless creativity, diversity, and spirit of Indian cinema," he said. Singh highlighted the broader context of the event, pointing to the cultural dimension of India–South Korea relations. He said the two countries share more than trade and technology ties, adding that films remain one of the clearest ways to strengthen people-to-people understanding. "Films hold a unique power in strengthening people-to-people connections — transcending language and geography to touch hearts and inspire understanding," he said. This year's program includes titles such as 12th Fail, Manjummel Boys, English Vinglish, Zindagi Na Milegi Dobara, Hellaro and Anur (Eyes on the Sunshine). Screenings will continue through November across several cities, including Busan, Incheon, Yangsan, Miryang, Suncheon and Gwangju. The festival is running in partnership with the Korean Film Archives, Busan Cinema Centre, India Centre, Busan University of Foreign Studies, Mirim Theatre and the Asian Culture Centre. Singh also noted how Korean content has gained strong traction globally, including in India. He referenced films and series that have drawn international attention in recent years, describing them as examples of how locally rooted stories can reach audiences far beyond their home market. The Seoul leg of the festival continues at KOFA through November 15, with online reservations available via the Korean Film Archive website and on-site ticketing offered when seats remain available. 2025-11-14 14:53:25

South Korea tightens quarantine on Chinese poultry after detecting avian influenza genes SEOUL, November 14 (AJP) - South Korea has tightened inspections on processed poultry from China after the country’s quarantine authority detected genes linked to avian influenza in a shipment of duck ham. The Animal and Plant Quarantine Agency said Friday that the 21-ton shipment, imported on Nov. 2, tested positive for AI genetic material during routine screening. Officials emphasized that the finding did not involve a live virus and posed no risk of infection. The products were either destroyed or sent back and never reached consumers. The batch originated from a facility located near a Chinese plant where AI genes were found in August — a discovery that prompted Seoul to suspend imports from that site at the time. Now, regulators are expanding their caution. The agency has temporarily blocked imports from all producers within the same industrial complex and plans to run enhanced inspections on processed poultry from two additional areas in Inner Mongolia over the next month. “We will continue rigorous inspections of imported livestock products to prevent the entry of animal diseases,” said Choi Jeong-rok, the agency’s chief. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-14 14:38:27