Asian markets hardly move on Suneung Day, awaiting end of U.S. shutdown SEOUL, November 13 (AJP) - Asian markets were largely unmoved on Thursday as investors waited for confirmation of an end to the U.S. government shutdown. In Seoul, the KOSPI and KOSDAQ inched up to 4,153.35 and 911.88, respectively, as of 11:20 a.m. The market opened at 10:00 a.m.—one hour later than usual—due to the nationwide Suneung college entrance exam. The Korean won weakened further, with the dollar gaining 4.60 won to hit a new annual high of 1,474.1 won despite fresh verbal intervention from authorities. Large-cap stocks traded narrowly, with none among the top 10 names moving beyond a 1-percent range. Samsung Electronics rose 0.9 percent to 104,000 won ($71), while SK hynix gained 0.5 percent to 620,000 won. LG Energy Solution slipped 0.2 percent to 474,500 won, and Hyundai Motor eased 0.2 percent to 275,000 won. Entertainment agency HYBE surged 5.3 percent to 306,500 won following reports that all five members of NewJeans, under its subsidiary label ADOR, would return to the company. Meritz Securities raised its target price for HYBE to 380,000 won from 370,000 won, citing projected profit contributions of 6–7 billion won ($4.1–4.8 million) next year from NewJeans’ resumed activities and as much as 20–30 billion won annually from 2027. HYBE, valued at around 13 trillion won, manages top K-pop acts including BTS, SEVENTEEN, TOMORROW X TOGETHER, ENHYPEN, LE SSERAFIM, and ILLIT. On the KOSDAQ, ABL Bio soared 27.3 percent to 161,300 won after announcing a $2.6 billion technology transfer deal with U.S. pharma giant Eli Lilly for its Grabody-B bispecific antibody platform. Japan’s Nikkei 225 rose 0.5 percent to 51,336.57, supported by modest gains among automakers. Toyota and Honda each added 0.3 percent, Nissan rose 0.9 percent, while Sony climbed 1.3 percent. Fast Retailing fell 1 percent, and SoftBank extended declines with a 3.4 percent drop. In China, the Shanghai Composite slipped 0.1 percent to 3,995.66, while Hong Kong’s Hang Seng Index fell 0.3 percent to 26,844.56 amid continued caution across regional markets. 2025-11-13 11:33:28

PHOTOS: Record number of students sit for annual university entrance exam SEOUL, November 13 (AJP) - More than 550,000 students take the annual university entrance exam at around 1,300 test venues nationwide on Thursday. The number of test-takers increased by about 6 percent or 31,504 students, compared to last year, the highest in seven years since 2019, when 594,924 students took the exam. This is attributed to those born in 2007, known as the auspicious "Year of the Golden Pig," taking the exam, which is anticipated to make university admissions even more competitive. Moreover, the smaller medical school quotas this year are likely to heighten competition among the highest-scoring applicants. Reflecting the country's obsessive zeal for higher education, South Korea maintains a university enrollment rate of nearly 70 percent, ranking first among OECD countries for the 17th consecutive year. Given the significant impact that admission to prestigious universities can have on students' future careers and social status, the exam has become more than just a test, it is an annual "big day" for many South Koreans. Students perform at a high school in southern Seoul on Nov. 12, 2025, just a day ahead of the annual university entrance exam. AJP Yoo Na-hyun 2025-11-13 11:30:35

K Shipbuilding wins $333 million tanker orders from European clients SEOUL, November 13 (AJP) - South Korea’s mid-sized shipyard K Shipbuilding said on Thursday that it had signed contracts with two European shipping companies to build five tankers worth about $333 million. The orders, finalized on Nov. 6 and 12, include three 115,000-ton crude oil tankers and two 50,000-ton petrochemical tankers, the company said. All of the new vessels will comply with the International Maritime Organization’s standards for greenhouse gas emissions. “This order reaffirms our long-standing expertise and competitiveness in the medium-sized tanker sector,” the company said in a press release. “We will continue to strengthen our technology and quality to solidify our leading position in this market.” The deal adds to a strong year for K Shipbuilding, which has benefited from a global upswing in ship orders tied to energy transport and environmental upgrades. As of the third quarter of 2025, the company reported $670 million in cumulative sales. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 10:58:05

INTERVIEW: Korean economist sees AI as key to breaking out of low growth SEOUL, November 13 (AJP) - South Korea has a rare chance to escape years of sluggish growth if it can harness artificial intelligence as a new engine of productivity, according to Jeon Kwang-woo, chairman of the Institute for Global Economics and a former head of the Financial Services Commission. In an interview with Aju Business Daily, Jeon said the country’s economy — long constrained by an aging population, weak investment, and slowing exports — could find renewed momentum in the global race for AI leadership. “Artificial intelligence can be a catalyst for growth,” he said, adding that the challenge is to ensure that innovation “does not deepen inequality or social polarization.” South Korea’s economy expanded 1.2 percent in the third quarter, beating expectations. The Bank of Korea now estimates that if growth in the final quarter remains above minus 0.1 percent, full-year expansion could reach roughly 1 percent. The International Monetary Fund recently raised its 2025 forecast for South Korea from 0.8 percent to 0.9 percent, while global investment banks see growth in the 1 percent range. Even so, Jeon noted that South Korea continues to lag behind major economies, where growth averages 2 to 3 percent. “Low growth has become structural,” he said. To address it, he called for policies that boost labor productivity, technological competitiveness, and corporate investment, supported by a more dynamic financial system. Jeon pointed to recent developments in the AI industry as a promising sign. NVIDIA chief executive Jensen Huang’s plan to supply 260,000 GPUs to South Korea, he said, represents not only a technological opportunity but also a strategic hedge against U.S.–China tensions. “We must expand infrastructure such as data centers and energy supply to take advantage of this AI momentum,” Jeon said. South Korea’s government has pledged to make the country one of the world’s top three AI powers, but Jeon cautioned that fiscal prudence will be essential. “Spending must focus on areas with strong multiplier effects, such as AI infrastructure,” he said. “Excessive cash handouts could undermine financial stability.” He also warned of potential labor market polarization as automation advances. “AI will reduce labor demand in some sectors,” he said. “The government and businesses should prepare through retraining programs and stronger safety nets for vulnerable groups.” Despite concerns about a possible AI bubble, Jeon remains optimistic that the technology will continue to drive exports — especially in semiconductors — and lift South Korea’s growth to the upper 1 percent range next year. But he cautioned that policy uncertainty and geopolitical risks, including renewed U.S.–China tariff tensions, could still weigh on the outlook. “AI is not a guarantee of growth,” he said. “It’s an opportunity — one we must seize carefully, with both innovation and inclusion in mind.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 10:37:59

North Korean, Laotian FMs meet in Pyongyang to strengthen ties SEOUL, November 13 (AJP) - The foreign ministers of North Korea and Laos met in Pyongyang to discuss ways to strengthen bilateral cooperation, the state-run Korean Central News Agency (KCNA) reported on Thursday. North Korean Foreign Minister Choe Son-hui and her Laotian counterpart Thongsavanh Phomvihane pledged to implement agreements reached by their leaders in October to strengthen friendship and cooperation between the two countries, according to KCNA. Their meeting, which was followed by a banquet dinner in a friendly atmosphere, appears to be a follow-up to last month's summit between North Korean leader Kim Jong-un and Laotian President Thongloun Sisoulith in Pyongyang. North Korea has been expanding its diplomatic relations with traditional allies such as Laos and Viet Nam, while also strengthening ties with China and Russia. Laos has maintained close ties with North Korea since establishing diplomatic relations in June 1974. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 10:24:20

South Korea's CU convenience chain opens first US store in Hawaii SEOUL, November 13 (AJP) - South Korea’s largest convenience store operator, BGF Retail, has opened its first American location in Honolulu, Hawaii. The store opened this week in the popular destination for Asian tourists and home to a sizable Korean community. The launch follows the establishment of BGF Retail Hawaii in May and a master franchise agreement with WKF Inc., a local company that will manage operations under the CU brand. Under the deal, BGF Retail will collect royalties while WKF oversees local management. The store is situated in a bustling commercial area catering to office workers, hotel guests, and tourists. With the theme “K-Food Meets Aloha,” the location blends Korean convenience store culture with local tastes, offering both imported and locally inspired items. Among its products are popular Korean snacks and ready-to-eat meals. CU’s menu also emphasizes freshly prepared foods and local favorites such as Spam musubi and loco moco. To meet strong coffee demand, CU partnered with Island Vintage Coffee to offer locally roasted beans and brewed drinks. BGF Retail plans to expand from its Honolulu flagship to Waikiki Beach and Ala Moana, with a goal of 50 stores within three years. “CU’s U.S. entry highlights the global appeal of Korean convenience stores and strengthens our role as a K-culture platform,” said Hong Jeong-guk, vice chairman of BGF Retail. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 10:01:02

South Korea's Lotte Chemical sells Pakistani unit in streamlining push SEOUL, November 13 (AJP) - South Korea's Lotte Chemical said on Thursday that it had completed the sale of its controlling stake in its Pakistani subsidiary, Lotte Chemical Pakistan Limited. Lotte’s withdrawal from Pakistan underscores a broader trend among South Korean chemical companies seeking to pare back exposure in emerging markets with volatile currencies, while investing more heavily in specialty and sustainable chemical products that promise higher margins. Lotte Chemical sold its 75.01 percent stake in the subsidiary to PTA Global Holding Ltd, a joint entity formed by AsiaPak Investments Limited of Pakistan and the UAE-based Montage Commodities FZCO. The transaction, valued at 98 billion won, or about $72 million, closed on Nov. 12 following a public tender offer in September. Including 29.6 billion won in dividends received earlier this year, Lotte said it had secured a total of 127.6 billion won from the sale. Lotte Chemical Pakistan operates a plant that produces 500,000 tons of purified terephthalic acid (PTA) annually, a key raw material used in polyester fibers, industrial yarns, and PET bottles. The divestment marks another step in Lotte Chemical’s ongoing restructuring, as the company moves to concentrate on higher-value businesses. Since 2023, the Pakistani subsidiary had been classified as a non-core asset, with the company citing management risks linked to financial support and currency volatility in the local market. “We will continue our business restructuring to strengthen core competitiveness and expand our specialty portfolio, particularly in high-performance engineering plastics and advanced materials,” Lotte Chemical said in a press release. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 09:49:02

Another body recovered at Ulsan power plant with one worker still missing SEOUL, November 13 (AJP) - Another body was recovered early Thursday morning from the rubble of a thermal power plant in the southeastern city of Ulsan. According to rescue workers, a man in his 30s was retrieved from the debris at the state-run utility Korea East-West Power at around 1:18 a.m. This brings the death toll to six, with one person still missing. The incident occurred when a 60-meter boiler tower suddenly fell during demolition work last Thursday, trapping seven of the nine workers at the site. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 09:41:24

K-pop sensation NewJeans signal full-group comeback by returning to ADOR under HYBE SEOUL, November 13 (AJP) - NewJeans, the breakout K-pop act that shot to global fame upon debut in 2022 but became embroiled in a bitter dispute with its agency last year, is poised for a full-group comeback after members began signaling their return to ADOR, a move that lifts a major litigation burden for the parent manager HYBE ahead of the long-anticipated comeback of K-pop superstar BTS. On Wednesday, members Haerin and Hyein announced that they would return to ADOR, saying they had decided to respect the recent court ruling and rejoin the agency after “thoughtful consideration with their families and discussions with ADOR,” according to a statement posted on X. The remaining members — Minji, Hanni, and Danielle — told a local media outlet that they also intended to return. “One member is currently in Antarctica, which delayed communication, and we have not yet received a response from ADOR, so we are announcing this separately. We look forward to continuing to perform with sincerity,” they said. ADOR responded that it was “verifying the intentions of Minji, Hanni, and Danielle regarding their return.” If all five members rejoin, it would mark 348 days since the group abruptly cut ties with ADOR by unilaterally terminating their contracts on Nov. 29 last year, following a highly publicized fallout involving former ADOR chief and group mentor Min Hee-jin. Last month, the Seoul Central District Court ruled in favor of ADOR, saying the exclusive contracts signed in 2022 remain valid, effectively barring the members from pursuing independent activities or signing with other labels. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-13 07:42:24

Why Korea should benchmark Japan in tweaking retirement age and managing super-aged society SEOUL, November 12 (AJP) - Korea, under strong pressure from labor unions, is moving to extend the statutory retirement age to 65 as it enters a super-aged demographic structure, but the shift could strain public finances and the national pension system if it fails to draw voluntary participation from the private sector, responsible for most hiring. Korea's two largest umbrella unions are urging the progressive government and ruling party to mandate a "blanket, unconditional extension to 65 without wage cuts" within the year. The ruling Democratic Party has proposed raising the statutory retirement age gradually to 65 by 2033, in line with the scheduled rise in the national pension eligibility age. Korea joined the ranks of "super-aged" societies last year, with people aged 65 and older accounting for more than 20 percent of the population. Although the legal retirement age is 60, the national pension does not begin paying benefits until age 63 — a threshold that will rise to 65 by 2033. The gap has left many seniors with insufficient income and pushed labor force participation among those 65 and older to 37.3 percent in 2023, the highest in the OECD. Korea also records the OECD's highest senior poverty and suicide rates. Japan, which encountered rapid aging decades earlier, offers lessons on how to manage the transition. Tokyo began addressing the issue 25 years ago and provided companies with autonomy and time to adjust. The Japanese government implemented a 12-year grace period, first introducing retirement-age guidelines in 1986 as a "non-binding obligation" before making them legally enforceable in 1998. The same gradual approach applied to raising the effective retirement age to 65: in 2000, Japan revised the Act on Stabilization of Employment of Elderly Persons, requiring companies to "make efforts" to ensure employment until age 65. If Korea implements its proposed legislation this year without similar staging, the Korea Enterprises Federation (KEF) warns that the benefits will accrue mainly to full-time workers at large firms and public institutions with strong unions. The business lobby estimates the additional annual employment cost at roughly 30 trillion won ($20.6 billion) — equivalent to hiring around 900,000 workers aged 25 to 29. Moreover, only 21.8 percent of Korean workplaces currently operate under a mandatory retirement system, meaning gains would disproportionately flow to workers in big corporations and the public sector. This helps explain mounting opposition from younger job seekers. Experience from the 2016 introduction of the current 60-year retirement age also suggests unintended consequences. According to the Bank of Korea, the policy increased employment among workers aged 55 to 59 by about 80,000 by 2024, but reduced employment among those aged 23 to 27 by 110,000. For every additional older worker retained, employment for young workers fell by 0.4 to 1.5. Japan's approach since 2006 gives companies three options: extend the retirement age, abolish retirement limits altogether, or provide continued employment for older workers under new contracts. As of April this year, companies must offer continued employment to anyone wishing to work until 65. Under this system, employees formally retire at the designated age but are rehired with adjusted pay and conditions, allowing firms to retain experienced workers while managing labor costs. Watami Co., which operates restaurant chains such as Subway and TGI Fridays in Japan, recently raised its retirement age to 65 and introduced a program enabling employees to work until 75. The move addresses both labor shortages and the desire of older workers to remain active. As of June 2022, 99.9 percent of Japanese companies with 21 or more employees had adopted one of the three systems, effectively lifting the retirement age to 65 in practice, according to the Ministry of Health, Labour and Welfare. More than 65 percent of companies have either formally extended the retirement age or abolished it altogether. 2025-11-12 17:22:56