HOT STOCK: Innotech rockets to the ceiling on KOSDAQ debut on chip-related hype SEOUL, November 07 (AJP) - Innotech, a South Korean maker of environmental test equipment, quadrupled on its KOSDAQ debut Friday, underscoring the frenzied appetite for anything tied to chipmaking. The shares opened at 50,300 won — 242 percent above the initial public offering (IPO) price of 14,700 won — and immediately hit the daily permissible ceiling of 58,800 won ($40). The stock stayed locked at the upper limit throughout the session despite a sweeping rout that dragged both the KOSPI and KOSDAQ down around 2 percent. KB Securities was the sole underwriter. Founded in 2013, Innotech specializes in reliability and environmental testing systems that simulate extreme conditions — from minus 70 to plus 250 degrees Celsius — to verify durability against heat, humidity, and vibration. Such systems are essential across semiconductor, battery, display, and automotive manufacturing, where production stability and quality assurance hinge on precision testing. By developing proprietary technologies and offering integrated services from design and manufacturing to maintenance, the company has reduced reliance on imported equipment. This strategy helped Innotech secure major clients including Samsung Display, Samsung Electronics’ Mobile Division, and Samsung SDI between 2019 and 2023. The firm has also expanded overseas with a Vietnam subsidiary and around $5 million in exports. Financial performance has strengthened steadily. Revenue rose from 6.4 billion won in 2021 to 16.7 billion won ($11.46 million) last year, representing a compound annual growth rate of 27.1 percent over four years. Investor demand for the IPO was overwhelming. Institutional book-building drew a subscription ratio of 1,072 to 1, pushing the pricing to the top of the indicative range. Retail demand was even stronger, with 410,000 bids, a competitive ratio of 2,427 to 1, and deposits swelling to 7.85 trillion won. A KB Securities official said Innotech’s growth prospects in displays, semiconductors, and secondary batteries “drew strong interest from both institutional and individual investors.” Innotech plans to use the proceeds to develop next-generation testing systems for semiconductors and batteries, expand R&D, and strengthen its global customer network. CEO Jang Seok-jun said the firm aims to become “a leading global provider of complex reliability and environmental testing equipment through continued technological innovation.” 2025-11-07 16:25:34

PHOTOS: Fall festivals for international students SEOUL, November 07 (AJP) - South Korean universities are rolling out diverse cultural events this fall to integrate a growing international student body, which surpassed 200,000 in 2024. As the number of foreign students continues to rise, universities across the country are hosting festivals aimed at fostering cultural exchange and community. In Suwon, Gyeonggi Province, Ajou University hosted its annual "Ajou International Day," showcasing the diverse cultures of its students. The festival featured booths where international students presented traditional clothing and food from their home countries, offering a hands-on experience of global culture to the entire campus community. In Busan, Pukyong National University focused on inter-student mingling by holding a "Global Sports Day." The athletic event provided a lively setting for foreign students to engage and socialize with their South Korean peers through various activities. 2025-11-07 16:08:51

South Korea's top enterprise software company sold to Swedish PEF SEOUL, November 07 (AJP) - Douzone Bizon, South Korea’s leading enterprise software provider, has been acquired by Swedish private equity firm EQT Partners for 1.3 trillion won, or about $940 million. The company said Friday that founder Kim Yong-woo, who held a 22.3 percent stake, and Shinhan Financial Group, with 34.8 percent, sold their shares to EQT’s special-purpose vehicle, Doronicum. The Swedish firm will control 37.6 percent of voting rights, becoming the new majority shareholder. Founded in 1991, Douzone Bizon has long dominated South Korea’s market for accounting and enterprise resource planning (ERP) software for small and medium-size businesses. Over the past decade, it expanded into public-sector digital services and launched its cloud-based platform, WEHAGO, in 2011. Despite its market leadership, Douzone has faced criticism for high service costs, user complaints, and governance concerns tied to Kim’s family management. EQT said the acquisition reflects its commitment to expanding in Asia and to supporting Douzone Bizon’s transformation into a broader digital business ecosystem. Industry insiders said EQT could eventually make a tender offer for remaining shares, a move that might lead to Douzone Bizon’s delisting from the Korean stock market. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-07 15:47:32

Azerbaijani ambassador calls for lasting peace at Victory Day reception in Seoul SEOUL, November 07 (AJP) - The Embassy of the Republic of Azerbaijan in Seoul hosted a Victory Day reception on Thursday to commemorate the country's 2020 Patriotic War. The event, held at the Grand Hyatt Seoul, brought together around 100 guests, including foreign diplomats, South Korean government officials, business representatives, scholars, and members of the media. Azerbaijani Ambassador to South Korea Ramin Hasanov said the day marked the end of long-standing injustice and the restoration of Azerbaijan's territorial integrity. He noted that the victory liberated about 20 percent of the country's territory that had been under occupation for decades and reaffirmed its sovereignty in line with international law. The 2020 conflict, known in Azerbaijan as the Patriotic War, was a six-week confrontation between Azerbaijan and Armenia over the Nagorno-Karabakh region and nearby areas. The fighting ended in November 2020 under a Russia-brokered ceasefire, with Azerbaijan regaining control of much of the territory it lost in the early 1990s. Since then, the two countries have been engaged in talks aimed at reaching a comprehensive peace treaty and finalizing their border. In August 2025, they announced a framework peace agreement during negotiations in Washington, pledging mutual recognition of territorial integrity and regional cooperation. Although tensions remain, both sides have publicly expressed their intention to pursue peace through diplomacy. Ambassador Hasanov said 2025 has been declared Azerbaijan's "Year of Constitution and Sovereignty" and described the Washington peace agreement as a turning point for the region. He added that Azerbaijan and Armenia had jointly appealed for the closure of the OSCE Minsk Group, which had long mediated negotiations, saying the decision reflected both countries' readiness to handle talks directly. He also spoke about reconstruction in the liberated areas under Azerbaijan's Great Return Program, noting that more than 50,000 people have already resettled in newly rebuilt towns and villages. He said the development plan includes green energy infrastructure to create sustainable living conditions for returning residents. Addressing humanitarian issues, Ambassador Hasanov called for cooperation in providing accurate landmine maps and determining the fate of thousands of Azerbaijanis who went missing during earlier conflicts. He said reconciliation and coexistence would require continued goodwill and mutual confidence-building efforts. "Achieving lasting peace is not merely an act of goodwill but a duty toward all people in the region," he said, emphasizing Azerbaijan's commitment to stability and security through peaceful means. Ambassador Hasanov ended his speech on a cultural note, describing music as "a universal language that connects hearts and souls." He introduced a joint performance by Azerbaijani and Korean musicians featuring works by Uzeyir Hajibeyli, the Azerbaijani composer born in Shusha, calling the performance symbolic of peace and national revival. Guests later viewed a short film reflecting on the meaning of Victory Day, followed by the musical performance. The evening continued in a cordial atmosphere. 2025-11-07 15:30:09

At least three dead after collapse at retired power plant in Ulsan SEOUL, November 7 (AJP) - Search operations are underway at a thermal power plant in southeastern city of Ulsan on Friday, after a large structure collapsed during demolition work the previous day. Two workers were rescued shortly after the incident at the state-run utility company Korea East-West Power, while two others were found earlier in the day but pronounced dead. One victim who was found trapped under debris also died, bringing the death toll to three. They were among nine workers at the site when the incident occurred. According to rescue officials there, two workers still remain missing, while two others are trapped in the rubble and feared dead. The collapse occurred around 2 p.m. on Thursday, when a 60-meter boiler tower fell while workers were dismantling it with explosives. Most of them were reportedly employed as subcontractors for the company. 2025-11-07 15:18:52

Korean robotics sector battles Chinese and Japanese competition as it bets on AI-driven revival SEOUL, November 07 (AJP) - South Korea's industrial robotics sector is struggling to find a breakthrough as it rapidly loses home ground to Chinese and Japanese rivals and faces the risk of new tariff barriers in the United States. Responding to appeals from domestic manufacturers, the Ministry of Economy and Finance on Thursday announced provisional anti-dumping tariffs of 21.17 percent to 43.6 percent on multi-jointed industrial robots with four or more axes from China and Japan. The duties will apply for four months from Nov. 21 through March 20. The measure marks South Korea's first anti-dumping action on industrial robots in 20 years as the government seeks to shield local producers from "predatory pricing by foreign competitors." Industrial robots account for about half of Korea's 6 trillion won (4 billion dollars) robotics market. Of the country's 2,525 robotics firms, 567 focus on industrial applications, according to late-2024 government data. The duties target major manufacturers including Japan's Kawasaki Heavy Industries, Fanuc and Yaskawa Electric, as well as China's Kuka Robotics. The Trade Commission will continue investigations through March 20 before determining final tariff rates. Domestic complaints say foreign companies have been undercutting Korean products by selling 28 percent to 44 percent below market rates. One Korean firm's complaint filed in March 2024 said China's Kuka and Japan's Fanuc sold robots at steep discounts to clear inventory. Chinese and Japanese incursions into Korea's market have intensified pressure on domestic suppliers. Korean industrial robotics makers, led by HD Hyundai Robotics and Yuil Robotics, now command only 30 percent of the home market. Their position is even weaker globally, where China dominates robot installations with 54.4 percent market share, supported by prices 20 percent to 30 percent lower than Korean models and extensive state backing. Even if finalized, the anti-dumping duties offer limited relief as local firms confront a new challenge abroad. Last month, the US Commerce Department launched a Section 232 investigation into whether imports of robots, industrial machinery and medical devices threaten national security. The probe includes industrial robots and other computer-controlled mechanical systems such as stamping, cutting, welding and metalworking equipment. The department will submit recommendations to the White House within 270 days, after which the president will decide on potential tariffs. As a US ally and major supplier of industrial robots, Korea's exports are already governed under the Wassenaar Arrangement, which regulates dual-use technologies among member states. While the agreement makes security threats or improper technology transfers highly unlikely, Korean companies fear that the investigation could delay investments and affect operations. According to industry insiders, LG Electronics, LG Chem and LG Energy Solution recently submitted an opinion paper to the US Commerce Department highlighting risks to their American facilities. The companies wrote: "Robots and industrial machines are core capital goods essential to production." They added: "Applying tariffs or other import restrictions to a wide range of robots and industrial machines could result in unintended negative consequences including cost increases and reduced productivity and efficiency." Other Korean companies have submitted similar filings, including Doosan Robotics, which acquired US robotics solutions firm ONExia last July. Despite mounting challenges, industry leaders see promise in the AI-driven robotics boom. During a visit to Seoul, NVIDIA CEO Jensen Huang said Korea is best qualified to spearhead the robotics era and pledged to supply 260,000 GPUs to accelerate automation. "Robots are bringing innovation across daily life through convergence with AI, going beyond manufacturing efficiency," said Kim Jin-ho, president of the Korea Association of AI Robot Industry, during opening remarks at Robot World 2025 on Wednesday. "With the expanding role of robots in physical AI and healthcare, the golden age of robotics has arrived." 2025-11-07 14:38:32

Behind the buzz over K-Pop Demon Hunters, K-contents score meagerly this year SEOUL, November 07 (AJP) - Korean contents have enjoyed spectacular global exposure this year through major streaming platforms, but without the halo of K-Pop Demon Hunters — the rare breakout that dominated global charts — the industry can hardly claim meaningful wins amid a dearth of blockbuster titles, mounting production costs, and waning originality. The third-quarter results of CJ ENM, Korea’s largest entertainment and media group, offer a glimpse into this year’s K-drama performance. On Thursday, the company reported consolidated revenue of 1.12 trillion won ($830 million) and a modest operating profit of 17.6 billion won for the July–September period. Its media platform unit logged an operating loss of 3.3 billion won. The film and drama division returned to the black with a profit of 6.8 billion won, helped largely by additional distribution in Latin America and the Middle East. Industry data show that while Korean IP remakes overseas continue to grow — from 22 in 2020 to nearly 40 this year — profitability has narrowed as production budgets balloon and domestic platforms rely more heavily on global OTT partnerships. According to the Bank of Korea, the nation’s royalties balance swung to a deficit of $8.5 billion in September from $0.6 billion in August, reflecting rising payments for foreign IP. On the small screen, the pipeline has been thin and underwhelming. Average TV ratings for Studio Dragon — the flagship behind Queen of Tears and Castaway Diva — fell to 7.5 percent from 9.3 percent in 2023. The number of new titles achieving double-digit viewership dropped from six to three. The studio produced 19 new dramas this year, down from 31 last year and 28 in 2023. “On the surface, K-content still looks strong, but from an industrial standpoint the creative pipeline has weakened,” said Jin Lee, professor of cultural content studies at Hanyang University. “Korean studios are shifting toward co-productions with global OTTs, which help overseas expansion but reduce creative control and profit margins.” TVING, CJ ENM’s streaming arm, saw monthly active users rise 8.6 percent year on year, but its domestic market share remains below 10 percent — far behind Netflix’s 45 percent. “Consumers now watch what they want and leave,” Lee added. “For Korean platforms, sustaining loyalty and cumulative growth has become extremely difficult.” CJ ENM’s film business showed a similar pattern. Among roughly 24 theatrical releases between 2023 and 2024, only eight broke even. Mid-budget films such as Exhuma and The Escape significantly outperformed expectations. Film revenue rose 12 percent on year to 372.8 billion won, but operating margins narrowed to 1.8 percent from 3.2 percent a year earlier. Across the broader market, Korean films attracted 71 million theatergoers in 2024 — up 18 percent on year but still 46 percent below pre-COVID levels. Average terrestrial drama ratings fell to 6.7 percent this year from 8.2 percent in 2023, while cable shows excluding Queen of Tears averaged 4.9 percent, the lowest since 2020. Industry watchers cite complacency and idea fatigue for the slowdown. “Historical or fantasy series are considered safe because they ‘look Korean,’ but over-repetition risks a creativity deficit,” Lee said. CJ ENM said it will continue to deepen partnerships with global media groups while improving returns on content investment. A company official said it aims to “expand global influence through strategic collaboration” and enhance profitability across its content and platform businesses. 2025-11-07 14:31:06

OPINION: C5+1 Summit — A New Chapter for Central Asia's Growth and Partnership SEOUL, November 07 (AJP) - On November 6, 2025, the C5+1 Summit between the United States and the five Central Asian nations convened in Washington, D.C., marking the 10th anniversary of the framework’s launch and opening a new chapter for regional cooperation. Currently, six major global partners — the United States, Japan, the European Union, China, India, and the Republic of Korea — have established similar C5+1 platforms with Central Asian states. This reflects their shared understanding of Central Asia’s strategic significance, not only as a vital geopolitical crossroads but also as a region endowed with abundant natural resources essential to sustaining modern economies. Korea, too, is preparing to host its first-ever C5+1 Summit next year, signifying its growing engagement with the region. Since their independence, the Central Asian republics have focused on nation-building based on social stability and, in recent years, have advanced toward modernization through reforms and openness. These efforts have yielded tangible progress — evidenced by the expanding network of C5+1 mechanisms established with leading global powers. Against this backdrop, the second U.S.–Central Asia Summit being held in Washington carries profound significance for the region’s political, economic, and strategic future. The world is undergoing transformation at a pace never before seen. For Central Asia, the early 1990s were already a period of tremendous change, yet today’s challenges represent something even greater — a civilizational transition confronting all humanity. As some now refer to a new era of “AI sapiens” beyond “Homo sapiens,” nations are compelled to adapt swiftly and wisely. Reflecting such global shifts, the Republic of Korea hosted the APEC Summit last week under the theme “Bridge. Business. Beyond.”, emphasizing connection, innovation, and prosperity. Kazakhstan, in particular, is accelerating institutional reforms to achieve economic diversification and enhance digital governance. Through timely policy measures — including improving the trade and investment environment, strengthening transportation connectivity, ensuring energy security, advancing digital transformation, and fostering high-tech industries such as AI and robotics — Kazakhstan is preparing for a new era in line with global dynamics. President Kassym-Jomart Tokayev stands out as a leader endowed with extensive domestic and international experience, a deep understanding of global trends, and the wisdom to translate these insights into national progress. His leadership ensures that Kazakhstan will continue to navigate change with vision and pragmatism. Just as the Republic of Korea, during its recent APEC engagements, achieved substantial cooperation outcomes with major partners such as the United States, China, and Japan, it is hoped that the U.S.–Central Asia Summit (C5+1) had yielded similarly meaningful results. This gathering has served as a catalyst for Central Asian nations to forge new paths of partnership, growth, and innovation amid the rapidly evolving global order. 2025-11-07 14:26:33

After APEC glow, Korean businesses confront hard reality of 'regulatory bomb' SEOUL, November 07 (AJP) - Just days after South Korea wrapped up the Asia-Pacific Economic Cooperation summit and concluded tariff negotiations with the United States, the nation’s business community is facing a surge of new domestic regulations — a shift that many executives describe as abrupt and burdensome. The government and the ruling party are moving quickly to advance legislation that would raise the retirement age to 65, accelerate national greenhouse gas reduction targets, and curb industrial energy consumption. Business groups say the measures could stifle competitiveness and investment. “It’s like a regulatory bomb has been dropped right after the APEC summit,” said one executive at a major conglomerate on condition of anonymity. “The mood changed overnight.” During the APEC summit, some of South Korea’s largest corporations — including Samsung, Hyundai, SK, and LG — played visible roles in supporting President Lee Jae Myung’s diplomatic agenda. Executives joined U.S. investment discussions and shipbuilding cooperation talks, aligning their business strategies with the government’s foreign policy push. But less than a week after the summit, many are now grappling with proposals that they say could weigh heavily on growth. The ruling Democratic Party’s plan to finalize the legislation for the retirement age extension by the end of the year has drawn particular criticism. Companies warn that such a move could further strain hiring for younger workers and deepen labor market polarization. The government’s plan to reduce greenhouse gas emissions by up to 60 percent by 2035 has also raised alarm among manufacturers, who argue that the target overlooks worsening economic conditions, including oversupply from China and sluggish domestic demand. Adding to the unease is a proposal to cut industrial energy consumption by 0.1 percent over the next five years — a goal businesses say clashes with the surging electricity needs of data centers, artificial intelligence, and semiconductor plants. “Rather than simply extending the retirement age, it would be more effective to strengthen reemployment systems tied to wage and productivity adjustments,” said Kim Sang-bong, an economics professor at Hansung University. “The government should listen to industry concerns and refine these policies through cooperation, not confrontation.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-07 14:09:04

North Korea launches ballistic missile into East Sea SEOUL, November 7 (AJP) - North Korea launched an unidentified ballistic missile into the East Sea, military authorities said on Friday. The Joint Chiefs of Staff (JCS) said it detected suspicious activities at around noon, shortly before the missile was fired from North Pyongan Province. According to JCS, the missile, believed to be short-range, flew 700 kilometers before splashing into the sea near Kilju in North Hyanggyong Province. Friday's launch is the seventh this year and comes about two weeks after the previous provocation on Oct. 22, when North Korea fired several short-range missiles, just ahead of last week's Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju. The previous day, the North denounced the latest U.S. sanctions on eight North Korean individuals and two entities allegedly involved in cyber fraud and other illicit money-laundering schemes. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-07 13:46:25