Reality check for Korean divorces amid billionaire cases and romanticized shows SEOUL, November 13 (AJP) - Divorce is no longer a social taboo in traditionally conservative South Korea, with a steady stream of reality shows and court dramas themed around marital breakups — and real-life billion-dollar splits among chaebol families such as SK Group and Smilegate drawing intense public attention. But little about divorce is romantic for ordinary couples. Korea’s divorce rate stands at 2.1 per 1,000 people — roughly half the global average of four — yet litigation costs have soared and disputes have grown more combative as dependent spouses push for a bigger share of assets. The latest case to dominate headlines involves Smilegate founder and chairman Kwon Hyuk-bin, whose net worth is estimated at 8 trillion won ($5.8 billion). His wife is reportedly seeking half of Kwon’s full stake in the unlisted gaming company. “The divorce of the century” between SK Group Chairman Chey Tae-won and his ex-wife Roh So-young also returned to the spotlight last month after the Supreme Court overturned a lower court ruling ordering Chey to pay 1.38 trillion won ($1 billion). The eye-popping numbers have captivated the public, but family lawyers caution that these cases are outliers in a system where most settlements are far smaller — and where proving financial or domestic contribution remains notoriously difficult. “People see these chaebol divorces and assume they can claim half. We’re already seeing clients ask whether they too can receive this amount,” said Lee Eun-hae, a divorce attorney at VROIN Law Firm. “In reality, it’s very rare. Courts divide assets based on provable contribution — and if one spouse wasn’t engaged in income activities, a 50:50 split almost never happens.” Under Korean law, marital property is divided according to each spouse’s contribution to wealth accumulated during the marriage. Non-monetary efforts such as childcare and household labor are recognized but still undervalued in practice, Lee added. “For non-working spouses, it’s very hard to quantify household or emotional labor,” she said. “Most cases end around a 6:4 or 7:3 ratio, depending on the marriage length and whether there are children involved.” Although Korea’s official divorce rate has dipped in recent years, experts say the trend partly reflects delayed marriage registrations rather than fewer separations. Lawyers and sociologists note that younger couples are more pragmatic — marrying later, divorcing sooner, and often handling breakups discreetly without going through formal litigation. “Younger generations view divorce less as a stigma and more as an option,” Lee said. “Some couples even end their marriage quietly without going to court.” As wealth becomes increasingly concentrated, legal experts say Korea’s family-law framework must evolve to reflect modern partnerships — including fairer recognition of unpaid domestic work and clearer valuation standards in high-asset marriages. 2025-11-13 15:58:26

Sanguine KOSPI signals bumper IPO year in 2026 SEOUL, November 13 (AJP) - Rejuvenated stock markets, abundant liquidity from monetary easing, and renewed corporate confidence fueled by strong exports are setting the stage for a bumper year for South Korean initial public offerings in 2026. Among the most closely watched are K Bank — which has already filed its preliminary prospectus and is awaiting approval — as well as beauty-and-fashion leaders CJ Olive Young, Musinsa, and Gudai Global, the rising Korean retail brands with expanding global footprints. Their listings have been discussed for years but were repeatedly pushed back during the prolonged market slump. With the KOSPI on track for its best-ever performance and investment banks projecting next year’s index range anywhere between 4,500 and 7,500, sentiment has turned decisively optimistic. Musinsa and Gudai Global are expected to be the biggest attractions, with valuations that could approach 10 trillion won ($6.8 billion). Musinsa has confirmed its IPO intent and is expected to select a lead underwriter within the year, though final approval is still pending. The fashion platform aims to use IPO proceeds to accelerate global expansion, a strategy reiterated by CEO Park Jun-mo. Gudai, which joined the 1-trillion-won sales club last year, expects the time is ripe, with revenue estimated to top 1.7 trillion won this year on strong U.S. sales through Amazon. Musinsa has been strengthening its presence in Japan by appointing Mike Ikeda, former CEO of Dr. Martens Japan, to lead its local unit. Its platform now introduces more than 3,000 brands to Japanese consumers, with Japan sales surging 120 percent on-year in the third quarter. CJ Olive Young, a dominant K-beauty retailer with a strong brick-and-mortar network, is also seen as a prime IPO candidate, though company officials declined to confirm a near-term plan. Olive Young maintained robust offline traffic even during the pandemic thanks to product trials that have proven especially attractive to foreign tourists. It has recently ramped up online sales to expand its customer base. Despite mounting price competition from low-cost chains such as Daiso, Olive Young is still expected to benefit from the global wave of interest in Korean beauty over the next three to five years, according to Kim Ju-duck, dean of the Graduate School of Convergence Beauty at Sungshin Women’s University. Other potential IPO standouts include AI startup Upstage — targeting a valuation above 2 trillion won on the strength of its Large Language Model technology — and medical device firm Reves Med, which has passed its listing review and plans to go public next month. LS Group affiliate Essex Solutions is also undergoing preliminary KOSPI review. Both Upstage and Reves Med are considered unicorns with valuations exceeding 1 trillion won. This year’s IPO market contracted sharply, with total fundraising reaching just 3 trillion won in the first half, far below the 20 trillion won annually recorded during the 2021–2022 boom. But with the KOSPI up more than 70 percent year-to-date, retail deposits earmarked for stock investment have ballooned to 85 trillion won. Recent IPOs have also priced at the top of their indicative ranges, signaling strong investor appetite. Government initiatives to invigorate the capital market — including lower taxes on dividend income and expanded venture capital supply — further strengthen the environment for new listings. A senior asset management official noted that the administration’s commitment to boosting the market is likely to draw both fresh issuers and eager investors back into the IPO pipeline. 2025-11-13 15:54:23

NCSoft unveils Horizon Steel Frontiers game based on Sony IP SEOUL, November 13 (AJP) - NCSoft unveiled a new multiplayer game based on Sony Interactive Entertainment's popular Horizon franchise at the G-Star 2025 gaming convention on Thursday, marking its first major collaboration on the globally acclaimed intellectual property. The South Korean game developer revealed "Horizon Steel Frontiers," a massively multiplayer online role-playing game that adapts the Horizon universe to mobile devices, at the BEXCO convention center in the southeastern port city. The game represents a departure from the original series' single-player focus, emphasizing teamwork and tactical combat instead. The trailer showcased combat sequences featuring the franchise's signature bows and melee weapons against mechanical creatures, as well as a system allowing dozens of players to ride ground and aerial mounts simultaneously. The game will support cross-platform play between mobile devices and PCs at launch. "This project started from the idea of playing in the attractive Horizon world not alone, but together with others," said Lee Sung-gu, the game's executive producer. The development period has spanned about four years, excluding initial planning, he said. Lee said the game would focus on player-versus-environment gameplay rather than the player-versus-player combat that has dominated NCSoft's previous MMORPGs. The company plans to adopt what he called a "good business model" aligned with global standards, without random loot box mechanics common in Korean MMORPGs. NCSoft is targeting a simultaneous global release in late 2026 or early 2027, Lee said. Further details will be released gradually through the game's official website. During the sidelines of the collaborative preview, NCSoft also showcased other games including "Aion 2," its sequel of the well-acclaimed Aion game from 2008. 2025-11-13 15:53:33

How Trump's tariff ruling could affect South Korea's trade deal with US SEOUL, November 13 (AJP) - U.S. President Donald Trump's sweeping tariff policy faces headwinds as the Supreme Court is set to rule on the legality of tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The IEEPA is a 1970s-era U.S. law that grants the president broad authority to freeze assets or impose economic sanctions in response to emergencies that threaten national security or foreign policy. Trump invoked the law to impose tariffs on nearly all of the U.S.' major trading partners, declaring a national emergency over the country's trade deficit and fentanyl trafficking. Many critics argue that Trump has stretched the law far beyond its intended purpose. With the court's rock-solid conservative majority with six conversative justices out of nine, three have already raised skepticism about the legality of Trump's aggressive tariffs during an oral hearing last week. "There would be an economic disaster. It would be a national security disaster if we lost the case," Trump said on his social media earlier this week. His remarks followed comments he made on a separate occasion at the White House on Monday, saying, "We're going to issue a dividend to our middle income people and lower income people - about $2,000 - and we're going to use the remaining tariffs to lower our debt." If the court finds the tariffs illegal, as lower courts have ruled, the U.S. would have to refund billions of dollars it has collected, a scenario Justice Amy Coney Barrett described as a "mess." But that is unlikely to happen, as Trump is expected to come up with a Plan B or other measures. South Korea, as one of these countries hit by U.S. tariffs, has been closely monitoring developments to prepare for possible fallout, although it finalized tariff-related negotiations late last month during Trump's visit here after resolving some contentious issues from an initial deal in late July, in which the two sides agreed to lower reciprocal tariffs from 25 percent to 15 percent in return for massive investment in the U.S. Despite uncertainties over the legality of the tariffs, many believe the court's decision will not directly affect tariff deals already struck or related investment projects. In particular, the country's trade negotiations included a broad range of security issues such as defense cost-sharing for the upkeep of American soldiers here and the construction of nuclear-powered submarines. Meanwhile, Seoul and Washington were expected to soon sign an official document for the newly agreed deal and release a joint fact sheet detailing Seoul's pledge to invest $350 billion in the U.S. But the official signing has been repeatedly delayed due to some lingering issues and it still remains unclear when it will happen. 2025-11-13 15:40:25

LG, Mercedes-Benz explore deeper 'One LG' partnership for next-gen car parts SEOUL, November 13 (AJP) - South Korea's electronics giant LG Group said Thursday that it discussed expanding its “One LG” partnership with Mercedes-Benz, aligning its affiliates’ combined auto-parts capabilities for next-generation electric and software-defined vehicles. The meeting at LG Twin Towers in Yeouido, Seoul, coincided with the visit of Ola Källenius, chairman and CEO of Mercedes-Benz Group. Executives from LG Electronics, LG Display, LG Energy Solution and LG Innotek attended to review collaboration in EV components, batteries, vehicle displays, and autonomous-driving sensors. Under the “One LG” initiative, the four affiliates aim to provide integrated parts solutions combining infotainment systems, curved OLED displays, battery cells, and sensing modules. LG Electronics and Mercedes-Benz have already co-developed the panoramic OLED infotainment display used in the EQS model. LG Display has supplied plastic-based P-OLED panels for Mercedes-Benz’s MBUX Hyperscreen, while LG Energy Solution remains a key battery partner. LG Innotek is exploring cooperation in LiDAR and radar modules. Källenius said Mercedes-Benz and LG “share a vision of innovation, quality and sustainability, combining our strengths to set new standards for the global auto industry.” LG Electronics CEO Cho Joo-wan said the company would “further strengthen its strategic partnership with Mercedes-Benz based on its SDV solutions and proven technology.” 2025-11-13 15:09:33

Korea's Hyundai Motor Group relies on hybrid relief until EV appetite returns SEOUL, November 13 (AJP) - South Korea's Hyundai Motor Group has largely weathered headwinds from a sluggish electric-vehicle market and unfavorable U.S. tariff conditions by leaning aggressively into hybrid offerings. The group's two marques – Hyundai and Kia – sold 831,933 hybrid vehicles globally in the first nine months of 2025, up 27.2 percent from 654,067 units a year earlier, according to available data. At this pace, annual hybrid sales are projected to surpass 1 million units for the first time. Mid-size sport utility vehicles led the surge. The Tucson Hybrid sold 132,991 units and the Sportage Hybrid 120,054 units through September, rapidly replacing their gasoline counterparts in key markets including the United States and Europe. In exports, Tucson Hybrid sales were more than triple those of its gasoline equivalent. Hyundai said in its third-quarter earnings that robust SUV hybrid demand helped lift its U.S. market share to a record high, with hybrid sales up 3.6 percent on-year in the July–September period. Kia posted a 4.8 percent gain. The shift reflects mounting pressures on automakers from shrinking EV subsidies, higher battery costs, and tariff uncertainty. In the United States, where federal EV tax credits of up to $7,500 were eliminated last month, a wider industry pullback is unfolding. General Motors is reportedly weighing 1,200 job cuts at its Detroit EV plant, Ford Motor is reassessing its plan to build 200,000 EVs next year, and Nissan Motor has postponed the 2028 launch of two EV models. Hyundai halted production of the Genesis GV70 electric model at its Alabama plant and sharply increased output of the Santa Fe Hybrid, whose production jumped more than 140 percent to roughly 62,000 units through September. The automaker also launched the Palisade Hybrid in the U.S. in September. Since debuting in South Korea in April, the model sold 26,930 units through September, outpacing the gasoline version's 18,005 units. Hybrids are typically priced 3 million to 5 million won ($2,038–$3,397) higher than conventional vehicles but command stronger profit margins and face far less consumer resistance than fully electric models. The hybrid Palisade costs more than 5 million won above the gasoline version, yet delivers about 1.45 times greater fuel efficiency. Industry experts view hybrids as a pragmatic bridge during the transition to full electrification. "The biggest reason people prefer hybrid vehicles over electric vehicles is safety concerns. While hybrid vehicles do have batteries, they are comparatively smaller than those in full electric vehicles," said Lee Jae-won, a professor of energy engineering at Dankook University. "Charging remains an issue, as it takes much more time to fully charge an EV than to refuel a gasoline car. Given time, improved infrastructure and institutional support, we still believe electric vehicles will become the new norm," he said. Responding to questions about its hybrid push, Hyundai Motor Group said consumer hesitation around EVs remains strong and that hybrids serve as a necessary intermediate step. "We have been taking incremental steps toward electrification through hybrid vehicles rather than radical changes, and our strategy has aligned well to drive these successful hybrid sales," a Hyundai Motor Group spokesperson said. 2025-11-13 15:02:46

USD-KRW eases after testing above 1,1470 after verbal intervention SEOUL, November 13 (AJP) -The U.S. dollar softened after briefly topping 1,470 won during Thursday’s session in Seoul, as investment jitters eased following President Donald Trump’s signing of a bill to end the longest-ever U.S. government shutdown. The Korean won, already down 2 percent this month, initially faced renewed downward pressure as foreign investors took profits after their record stock buying, while the greenback strengthened on Washington’s return to normal operations. Selling by foreign investors — coupled with a weakening yen that underscored the recent pattern of bundling Korean and Japanese assets — further weighed on the local currency. But the removal of uncertainty surrounding the U.S. shutdown helped curb foreign stock selling and reversed the dollar’s direction, pushing it down to 1,467.70 won as of 1:20 p.m. Verbal intervention from Bank of Korea Governor Rhee Chang-yong also helped stabilize sentiment. In an interview with Bloomberg TV, Rhee cautioned that authorities could step in if currency movements become “excessive,” while noting that multiple forces — AI-driven stock volatility, dollar strength, Japan’s policy path, U.S.–China trade tensions, and Korea–U.S. investment frameworks — are simultaneously pressuring the exchange rate, limiting the scope for containing the won’s depreciation. Still, Min Kyung-won, an economist at Woori Bank, suggested signs of interventionist impact. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 13:36:57

Hankook Tire to supply tires for Volkswagen's new Tayron SUV SEOUL, November 13 (AJP) - South Korea’s Hankook Tire & Technology said on Thursday that it will supply original equipment tires for Volkswagen’s new crossover SUV, the Tayron. The new Ventus Evo SUV tires were developed in close technical collaboration with Volkswagen and are designed to deliver a quieter, more comfortable ride. Hankook said the tires feature an AI-developed compound that optimizes both performance and stability, while a specialized cuff design and tie-bars on the shoulder blocks reduce road noise. Advanced aramid materials and a redesigned tread pattern help improve handling and cornering performance at high speeds — attributes verified during testing at Germany’s Nürburgring Nordschleife, one of the world’s most demanding race circuits. The Ventus Evo SUV tires will be supplied in five sizes, from 18 to 20 inches, for the Tayron. Hankook Tire has been a key supplier to the Volkswagen Group, whose brands include Audi, Porsche, and Cupra. This year, Hankook began supplying tires for Volkswagen’s Tiguan, Porsche’s electric SUV Macan, and Cupra’s electric hatchback Born. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 13:36:56

Samsung showcases cinema screen technology at film festival in Los Angeles SEOUL, November 13 (AJP) - Samsung Electronics said on Thursday that it is serving as an official sponsor of the 11th Asian World Film Festival in Los Angeles, using the event to highlight its Cinema LED Onyx screen. The festival, which runs through Nov. 20 at the Culver Theater, features films from more than 30 Asian countries. Samsung’s Onyx screen — which uses self-emitting LED technology instead of a traditional projector — will be used for screenings throughout the week. Samsung said its Onyx display delivers “deeper contrast and more vivid color” than conventional projection systems, offering audiences greater visual clarity and brightness in both 2D and 3D formats. The company first introduced the technology in 2017 at Lotte Cinema World Tower in Seoul, and it is now installed at six theaters across South Korea. As part of the festival, Samsung will host a special session on Nov. 15 titled “Samsung Onyx: Redefining Cinema Experience,” exploring how LED cinema technology can enhance visual storytelling and audience immersion. “We hope filmmakers and audiences at the festival experience the future of cinema through the unparalleled immersion of Samsung Onyx,” said Jung Hoon, vice president of Samsung’s Visual Display Business. “We will continue to collaborate for the advancement of the film industry.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 13:25:56

Swedish embassy to spotlight this year's Nobel prize achievements SEOUL, November 13 (AJP) - A symposium spotlighting this year’s Nobel Prize laureates and their academic achievements will be held in Seoul on Monday, bringing together scholars and researchers from Korea and Sweden. Hosted by the Embassy of Sweden in Seoul and supported by the Sweden-Korea Education, Research, and Innovation Collaboration (SKERIC) and the Korean Academy of Science and Technology (KAST), the event aims to promote academic exchange while honoring the legacy of Alfred Nobel. SKERIC, a joint initiative run by eight major universities in both countries, supports young researchers and emerging innovators, helping them build international networks and strengthen their ability to address global challenges. The symposium will take place at Korea University at 2 p.m., where leading figures from both nations will gather for lectures and discussions. Experts from Korean and Swedish universities will speak on key themes from the 2025 Nobel Prizes — including physiology or medicine, chemistry, physics, economics and literature — while exploring ways to deepen cooperation in higher education, research and innovation. Established under the will of Swedish inventor Alfred Nobel, the Nobel Prize is widely considered one of the world’s most prestigious honors. Funded by Nobel’s estate built through his invention of dynamite, the prizes have been awarded since 1901 in physics, chemistry, physiology or medicine, literature and peace. “The Nobel Prize is about courage — the courage to push knowledge forward,” Swedish Ambassador to Seoul Karl-Olof Andersson said. “This symposium reflects the enduring friendship between Sweden and Korea, grounded in a mutual commitment to education, innovation, democracy and truth,” he added. 2025-11-13 12:45:58