BMW overtakes Tesla as top-selling imported car brand in South Korea SEOUL, November 05 (AJP) - BMW has overtaken Tesla to become South Korea’s best-selling imported car brand, as demand for foreign-made vehicles continued to rise this year despite a slowdown in October sales. According to data released Wednesday by the Korea Automobile Importers & Distributors Association (KAIDA), registrations of new imported passenger cars totaled 24,064 in October, up 13.2 percent from a year earlier. The figure, however, marked a 26.7 percent decline from September’s 32,834 units, a drop attributed largely to fewer business days due to the long Chuseok holiday period. Cumulative sales from January through October reached 249,412 vehicles, a 15.5 percent increase from the same period last year. BMW led the pack with 6,177 units sold in October, followed by Mercedes-Benz with 5,838 and Tesla with 4,350. The top 10 brands also included Volvo, Lexus, BYD, Toyota, Audi, Mini, and Porsche — underscoring the continued dominance of European automakers in the market. The Tesla Model Y Long Range was October’s best-selling individual model, with 2,424 units sold, trailed by the Mercedes-Benz E 200 and the BMW 520. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-05 11:10:55

PHOTOS: Dried persimmons from Sangju — taste of centuries SEOUL, November 05 (AJP) - Late autumn transforms Sangju in North Gyeongsang Province into a spectacle of vivid orange. This is the season when the autumn sun-kissed persimmons are harvested and processed into the region’s renowned specialty: Gotgam, or dried persimmons. Sangju is traditionally famed for persimmons, rice and silk. While modern crops like grapes and cucumbers have joined its list of specialties, it is the gotgam that defines the region. Sangju's dried persimmons are particularly prized for their exceptionally high sugar content and soft, tender flesh. This superior quality is no accident; the region boasts the perfect climate, characterized by warm, sunny autumn days and crisp, cool evenings — ideal conditions for the slow, meticulous drying process. The prestige of Sangju Gotgam stretches back centuries. Historical records from the Joseon Dynasty attest to its excellence, noting its designation as an official tribute item presented to the king. Today, the tradition continues on a massive scale. Sangju is proudly the world's largest producer of dried persimmons, with an annual output of approximately 7,500 tons. The region accounts for more than 60 percent of South Korea's total national production. Stepping into a processing facility is an unforgettable travel experience. The air is thick with the sweet, earthy scent of fresh fruit. Persimmons, glowing a vibrant orange, cascade from machines into sorting areas. Workers swiftly peel the fruit and then string the pale spheres onto skewers. From there, the magic begins: the strung persimmons are carefully hung, filling vast, three-story warehouses from floor to ceiling in what appears to be a gigantic, edible curtain. The transformation takes patience. For about 50 to 60 days, the persimmons undergo a natural drying process in the cool, circulating air. This slow method is key to preventing spoilage and maximizing longevity, yielding the chewy, sugar-dusted treat that has delighted Koreans for generations. As global interest in hansik (Korean cuisine) and its traditional foods surges — demonstrated by the global recognition of Korean food practices and the inclusion of persimmons in high-profile events like the APEC summit — Sangju Gotgam stands ready for its moment in the international spotlight. It's a testament to the community's commitment to preserving a time-honored tradition while embracing a global future. For travelers seeking a taste of Korean history, culture, and nature, a visit to Sangju in late fall offers a truly golden experience. 2025-11-05 10:49:58

INTERVIEW: Korean biz at home and abroad must unite to leverage and lengthen K-power:OKTA chair SEOUL, November 05 (AJP) -An economic bloc representing 50 million South Koreans and 7.5 million ethnic Koreans overseas — built on a self-sustaining trade and supply-chain network that links the manufacturing base at home with capital and distribution capabilities abroad — is the vision of the World Federation of Overseas Korean Economic and Trade Association (World-OKTA), its chair said. Korean entrepreneurs at home and abroad have risen to global prominence and must now “build a system where exports and imports co-exist,” creating a firmer foundation for the next generation of business leaders to grow under “one Korean identity,” said Park Jongbum. Park, recently re-appointed to lead the organization for a second term — the first back-to-back leadership in its 44-year history — oversees 155 overseas chapters run by more than 7,000 ethnic Korean entrepreneurs across 75 countries. To unite Korea’s domestic and overseas business assets, Park is championing a bill that would grant World-OKTA legal status as Korea’s seventh official business association — a long-pursued agenda he says is crucial to elevating the organization’s role. “It is not easy, as it would mean providing government-level support to businesses based overseas,” he said. “But a unified Korean business network is essential to withstand global headwinds such as supply-chain disruptions.” Park stressed that Korean SMEs continue to face major hurdles in entering foreign markets. “This is a challenging global environment. Koreans at home and abroad must widen cooperation through consistent, physical exchanges and communication,” he said. That urgency, he added, was reflected in the scale of last month’s expo in Incheon. The 2025 Korea Business Expo Incheon, held Oct. 27–29 in Songdo, brought together more than 1,100 members from 58 countries, 150 buyers from 21 countries, and 434 Korea-based companies. The event generated 3,809 business meetings involving projects valued at $228 million. Park underscored the symbolic significance of Incheon as the gateway of Korean migration. “Korean migration began in Incheon in 1902, when 120 people boarded a ship to Hawaii to work in sugar cane fields. Now, 123 years later, their descendants are returning to Incheon to buy Korean products. This is the second wave of Korean migration,” he said. Of World-OKTA’s roughly 7,000 members, about half are under the age of 39. These young entrepreneurs, Park noted, have built strong networks with youth-led Korean startups and actively share insights, experiences, and pride in Korean identity. Around 100 young business founders were invited to showcase their ideas, innovations, and products during a weeklong startup program held alongside the Songdo expo, giving them first-hand experience pitching to potential buyers and investors. While early-stage funding remains modest — $500,000 for one startup and $150,000 for another — Park believes opportunities will broaden as exchanges deepen and K-power rises globally. “K has become synonymous with a legacy brand,” he said. “We now attach ‘K’ to everything — K-defense, K-shipping, K-steel, K-chip, and of course K-food and K-content. Global familiarity with Korean products and culture has expanded, and it is the role of Korean businesses to keep that glow alive.” 2025-11-05 10:47:01

North Korea likely to pursue talks with US early next year, spy agency speculates SEOUL, November 5 (AJP) - North Korea will likely respond to U.S. President Donald Trump's repeated overtures after all, South Korea's spy agency believes. According to lawmakers who were briefed in a closed-door parliamentary audit at the National Intelligence Service (NIS)'s headquarters in southern Seoul on Tuesday, Pyongyang is expected to "pursue dialogue" with Washington sometime in March next year when South Korea conducts its annual joint military exercise with the U.S. But the NIS later clarified that it did not predict a summit at that time. It instead speculated that a turning point for the talks could come in March, coinciding with the exercise, as North Korea may want to leverage its close ties with Russia and improved relations with its traditional ally of China. Backing up this assessment, the NIS said it detected several signs that North Korean leader Kim Jong-un had been preparing for a meeting with Trump until the last minute just ahead of last week's Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, although their much-anticipated first rendezvous since Trump's inauguration for his second term did not ultimately materialize. Trump had repeatedly expressed his desire to meet Kim during his trip to South Korea on the sidelines of the multilateral gathering, but Kim remained silent, and Trump's overtures were met only with a couple of missile launches. "North Korea stressed its close relationship with Trump, suggesting that it considered a summit until the very last moment and may pursue talks later once conditions are met," said Park Sun-won of the ruling Democratic Party (DP), quoting the NIS. "Evidence obtained through various channels and sources suggests that North Korea had apparently been preparing for talks with the U.S. behind the scenes," added Lee Seong-kweun of the main opposition People Power Party (PPP). Since late September, North Korea has deliberately refrained from claiming its "nuclear power" status, a shift in its rhetoric and stance, while hinting at an intention to engage in talks with the U.S., provided that denuclearization is not included on the agenda, according to the NIS. Pyongyang has also been gathering intelligence on senior officials and other key figures involved in North Korean affairs in Washington, another signal of possible talks, although it still remains to be seen. Trump met Kim three times during his first term -- their historic first meeting in Singapore in June 2018, a second summit in Hanoi in February 2019 that ended in failure, and a brief, largely symbolic meeting at the border truce village of Panmunjom four months later. Since then, Trump has claimed on several occasions that he maintains a "good relationship" with Kim. 2025-11-05 10:16:08

South Korean, Japanese firms consider joint venture for next-generation chip materials SEOUL, November 05 (AJP) - Samsung Electro-Mechanics said on Wednesday that it had signed a memorandum of understanding with Japan’s Sumitomo Chemical Group to explore establishing a joint venture for producing glass cores, a key component in next-generation semiconductor packages. The agreement comes as they are seeking to strengthen their foothold in the fast-evolving semiconductor packaging industry, where new materials are increasingly critical to supporting artificial intelligence and high-performance computing. Glass cores are viewed as a breakthrough material for next-generation chips. Unlike conventional organic substrates, they offer superior flatness and lower thermal expansion, allowing for more densely packed circuits and improved performance in large-area semiconductor packages. Under the agreement, Samsung Electro-Mechanics, Sumitomo Chemical, and Dongwoo Fine-Chem — a Korean materials affiliate of Sumitomo — plan to combine their respective expertise and global networks to accelerate the development and commercialization of glass-core technologies. Samsung Electro-Mechanics will hold a majority stake in the proposed venture, with Sumitomo Chemical as a key investor. The companies said they plan to finalize share structures, business timelines, and a corporate name by next year. The joint venture’s headquarters and initial production site will be located at Dongwoo Fine-Chem’s facility in Pyeongtaek, south of Seoul. “Glass cores are a game-changer for the future substrate market,” said Jang Deok-hyun, president of Samsung Electro-Mechanics, in a statement. “This agreement brings together the cutting-edge capabilities of the three companies and lays the groundwork for new growth in advanced semiconductor packaging.” Sumitomo Chemical Chairman Keiichi Iwata said the partnership would “create significant synergy in the advanced semiconductor post-processing sector” and help build a “long-term strategic alliance.” Samsung Electro-Mechanics is currently producing glass package substrate prototypes at its Sejong facility and expects full-scale production through the new venture to begin after 2027. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-05 10:05:40

South Korea's stock market rides early wave of AI-driven supercycle SEOUL, November 05 (AJP) - South Korea’s stock market appears to be entering the early stages of what analysts are calling an artificial intelligence–driven “supercycle,” as investors pour into semiconductor, robotics, and infrastructure shares amid growing optimism about the country’s role in the global AI boom. The rally gained momentum following recent international events such as the APEC summit and Nvidia’s AI conference, both of which underscored the long-term potential of the technology. The benchmark KOSPI index briefly surpassed 4,200 on Nov. 3, hitting an all-time high, before easing to close at 4,121.74 on Nov. 4, down 100.13 points, or 2.37 percent. Even so, many analysts see the pullback as a pause in a broader upward trend. Much of the enthusiasm centers on South Korea’s AI ecosystem, particularly in semiconductor and data center infrastructure. Shares of SK hynix have surged nearly 183 percent this year, while Samsung Electronics is up 83 percent and Naver has gained about 41 percent — a reflection of booming demand for AI computing capacity. The rise of AI data centers has also fueled gains among power and equipment suppliers. HD Hyundai Electric’s stock has soared about 143 percent on demand for high-voltage transformers, while Iljin Electric has advanced 118 percent. Government-backed domestic data center projects have reached record order backlogs, feeding investor optimism that the momentum will continue. In the “physical AI” sector, companies linked to robotics and autonomous systems are also reaping benefits. Doosan Robotics’ shipments of collaborative robots are expected to climb 50 percent this year, lifting its shares by more than 84 percent. Rainbow Robotics, known for its AI-powered robotic arms, is up about 80 percent, while Hyundai Autoever has gained nearly 58 percent on hopes for its autonomous driving software. Analysts remain bullish on the outlook. Kim Byung-yeon, an analyst at NH Investment & Securities, projected that the KOSPI could reach 5,000 by 2026, citing structural shifts in industrial competitiveness rather than low interest rates. KB Securities offered a similar forecast, also setting a 2026 target of 5,000 and estimating that global AI data center investments could exceed $1 trillion by 2028. That optimism stands in contrast to mounting concern in the United States about an “AI bubble,” where companies such as Google and OpenAI face scrutiny over soaring R&D costs and potential overinvestment. According to a recent Bloomberg report, U.S. technology giants could collectively spend more than $1 trillion on AI development by 2025 — a pace that some analysts say risks overheating. South Korea’s approach, by contrast, has emphasized state-backed infrastructure and “green AI” initiatives designed to mitigate energy strain and foster long-term stability. Unlike in the U.S., where investor enthusiasm often outpaces corporate performance, South Korea’s AI boom has been accompanied by measurable earnings growth. SK hynix reported a 61.9 percent year-on-year increase in third-quarter operating profit, to 11.38 trillion won ($8.2 billion), driven by sales of high-bandwidth memory chips. Samsung’s shipments of AI server processors rose 1.8 times from the previous quarter, while Naver’s AI cloud business expanded its utilization rate beyond 20 percent, strengthening its recurring revenue base. Analysts say the country’s AI momentum is rooted less in hype than in hardware for now — and in the structural shifts that could redefine South Korea’s role in the global technology supply chain. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-05 09:46:22

Viral K-beauty powered by rich foundation palette for every skin tone SEOUL, November 04 (AJP) - “You guys have no idea how happy I am right now — it’s literally perfect. I can finally use their cushion foundation,” said @MissDarcei, a beauty influencer with more than 800,000 YouTube followers. Her excitement reflects a growing wave of international consumers who say Korean cushion foundations now work just as well on darker skin tones as they do on lighter ones. The secret behind the viral rise of K-beauty lies in its fast-expanding shade ranges, with some brands now offering up to 40 different tones designed to match a global, multiracial consumer base. TIRTIR and Clio may not be the best-known legacy beauty houses in Korea, but they have emerged as major forces on social media by redefining what a Korean base shade can be. TIRTIR became the first Korean brand to surpass 30 shades in a single line when it released 40 foundation tones in August 2024. The move targeted deeper and darker skin tones across the United States, Europe, and Latin America. Since launch, global cumulative sales have topped 13 million units, and more than 70 percent of the company’s total revenue now comes from foundation. Its Mask Fit Cushion has repeatedly dominated Sephora U.S. and Amazon’s base-makeup rankings, achieving a surge of more than 55,000 percent in overseas sales within months. A company comment will be added. Clio followed in January 2024 by expanding its Kill Cover foundation range to 20 shades, introducing newly developed darker tones to appeal to a broader spectrum of global consumers. The company strengthened its presence on TikTok and Amazon while accelerating entry into U.S. and U.K. retail channels. Clio recorded 430.5 billion won in revenue in 2024, up 25.7 percent from the previous year. Overseas sales rose 22 percent in the first half to 84 billion won, while domestic revenue increased 17 percent to 101.5 billion won. The momentum from these shade expansions has also reshaped Korea’s manufacturing base. Major OEM and ODM producers including Cosmax and Kolmar Korea have intensified pigment-development research to meet demand for darker shades and customized tones, reflecting global trends in multi-ethnic cosmetic science. “Korean cushion foundations are known for their outstanding quality. When I visited Korea in 2019, I planned on buying one but was disappointed because the shades were far too pale for my skin,” said Jenny Kim, a 30-year-old from Utah. “Now that the brands have expanded their shade range, I can finally use them.” Influencers such as Miss Darcei and Suellen Gomes, prominent among Black and Latinx audiences, have praised Korean brands for finally offering tones that match their skin. Hashtags including #TIRTIR and #Kbeautydiversity have gone viral across TikTok and YouTube as deeper-shade users share surprised reactions and before-and-after videos. The rise of inclusive Korean foundations did not happen overnight. K-beauty’s double-digit market share in the United States and Europe reflects years of experimentation, reformulation, and persistence by Korean brands determined to meet the expectations of global consumers. “The widening shade spectrum of Korean beauty brands appears to be having a significant impact on exports,” said an official at the Korea Trade-Investment Promotion Agency. While Western giants such as Fenty Beauty and MAC still lead with 50 to 60 shades respectively, Korean brands are narrowing the gap with surprising speed. TIRTIR now offers 40 shades globally, followed by Clio’s 20, while brands such as Hera and Laka provide fewer than ten. The shift marks a major philosophical transition in K-beauty: a move away from exporting a single, bright-skin ideal toward embracing a more universal, consumer-driven approach that recognizes skin tone diversity as a core part of global beauty culture. 2025-11-04 18:02:44

South Korea, U.S. reaffirm support for nuclear submarine plan SEOUL, November 04 (AJP) - Defense Minister Ahn Kyu-baek and U.S. Defense Secretary Pete Hegseth reaffirmed plans to move ahead with South Korea's nuclear-powered submarine program and other key alliance issues during the 57th Security Consultative Meeting held Tuesday at the Ministry of National Defense in Yongsan. The two discussed follow-up measures from last month's summit between President Lee Jae Myung and U.S. President Donald Trump in Gyeongju, where Trump approved South Korea's plan to develop a nuclear-powered submarine. At a joint press conference after the meeting, Hegseth said that Washington "fully supports" the initiative and confirmed that Trump's authorization remains valid. "President Trump wants America's allies to strengthen their own defense capabilities," he said. "South Korea represents a model ally in that regard, and we will actively support this effort while coordinating closely with related agencies such as the State Department and the Department of Energy." He added that both sides would continue to discuss the program in good faith and expressed confidence that it would lead to a positive outcome. Hegseth also noted South Korea's "world-class shipbuilding capabilities," saying the U.S. government hopes to expand cooperation beyond submarines to surface and combat vessels as well. Asked whether South Korea plans to pursue nuclear weapons, Ahn replied, "There will never be nuclear weapons development in the Republic of Korea." He emphasized that South Korea, as a party to the Nuclear Non-Proliferation Treaty, "cannot and will not possess nuclear arms," calling denuclearization of the Korean Peninsula an "unshakable commitment." The ministers also reviewed progress on the transfer of wartime operational control, a long-standing alliance issue. South Korea has completed its Full Operational Capability assessment, and verification procedures are underway. Both sides exchanged views on the timeline for completing the transition. Ahn briefed Hegseth on Seoul's plan to raise defense spending, and Hegseth welcomed the move, saying he was encouraged by South Korea's decision to invest more in missile and cybersecurity capabilities. The two also discussed the strategic flexibility of U.S. Forces Korea. When asked whether U.S. troops could be deployed in the event of a Taiwan Strait crisis, Hegseth stressed that Washington remains committed to maintaining stability on the Korean Peninsula while ensuring regional readiness. He added that South Korea would take the lead in conventional defense against North Korea while continuing close coordination with the United States. The Security Consultative Meeting, the highest-level defense coordination forum between the two countries, is held alternately in Seoul and Washington each year. Officials said this year's joint statement will be released after both governments finalize the fact sheet on security and trade issues from the Lee-Trump summit. 2025-11-04 17:52:01

Unification Ministry undergoes organizational revamp to restore inter-Korean relations SEOUL, November 4 (AJP) - In its latest organizational overhaul, the Ministry of Unification revived its office handling inter-Korean dialogue while abolishing the one responsible for addressing North Korea's human rights violations and related issues. The ministry said on Tuesday the newly streamlined structure for its affiliated agencies took effect at midnight, after going through relevant legislative procedures. The office, abolished two years ago under disgraced former President Yoon Suk Yeol's hardline stance against North Korea, was reinstated along with its subcommittees and relevant agencies including those overseeing the inter-Korean industrial complex in Kaesong. In line with the revamp, which appears to reflect President Lee Jae Myung's engagement policy toward North Korea and his series of conciliatory gestures since taking office earlier this year, the ministry's staff will increase from 533 to 600, with senior positions rising from 18 to 20, while the number of departments and teams will expand from 52 to 58. A ministry official explained that the reorganization, which involved renaming or merging some agencies, aims to normalize the ministry's functions and restore inter-Korean relations. Unification Minister Jeong Dong-young, marking his 100th day in his post late last month, stressed that the reorganization reflects the Lee administration's commitment to pursuing peace on the Korean Peninsula. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 17:44:28

Four out of ten Korean tech workers eye work abroad as firms vie to keep them home SEOUL, November 04 (AJP) - Four out of ten South Koreans employed in science and engineering say they want to work abroad in pursuit of higher compensation and better social recognition, underscoring the talent pressures Korean companies face as global competition intensifies in AI and IT. A recent Bank of Korea study found that 42.9 percent of salaried STEM-degree holders are considering relocating overseas within the next three years, and the share rises to about 70 percent among those in their 20s and 30s. Financial factors were the most frequently cited motivation, with 66.7 percent pointing to higher pay abroad. Yoon Yong-june, head of the macroeconomic studies team at the Bank of Korea's Research Department, noted that STEM professionals in countries such as the United States enjoy strong respect, high compensation, and greater career mobility. "Talented students often enter institutions like Stanford or MIT and then build careers in AI and IT in Silicon Valley, frequently becoming key innovators or founders," he said. "In Korea, by contrast, elite students in the post-IMF era increasingly opted for medical schools from the early 2000s onward, reflecting a preference for job security over engineering paths." Dissatisfaction was highest among workers in biotechnology, pharmaceuticals, and medical devices, followed by electronics and semiconductors, and IT and communications. Even in high-paying fields such as semiconductors and mobility, many master's and Ph.D.-level researchers said their compensation did not align with the performance of their companies. Korean firms in IT, software, and biotech maintained similar ratios of labor costs to sales, while the ratios in core manufacturing industries such as semiconductors, electronics, and automobiles were lower. In contrast, U.S. tech giants such as Apple and Tesla have achieved high profitability by outsourcing production and focusing on design, software, and platforms, enabling them to reinvest more aggressively in R&D and employee rewards. The report also pointed to structural drawbacks in Korea's R&D career path, where researchers are evaluated on short-term performance, hindering breakthrough research. It emphasized that incentives must be tied to long-horizon achievements. Korea's lack of a Nobel laureate in the sciences can explain the structural constraint. Recent shifts in the labor market, however, suggest engineering roles are regaining appeal. With the rise of chip supremacy and escalating compensation packages, applicants for semiconductor-related university programs outnumbered those for medical schools in this year's early admissions cycle, according to Jongro Academy in Seoul. Corporations are also moving aggressively to retain talent. Samsung Electronics announced a new Performance Stock Unit program that ties employee rewards directly to the company's share price. Under the plan, employees will receive Samsung stock based on share-price growth over the next three years, with 200 shares granted to entry- and junior-level workers and 300 shares to mid-level managers, vesting gradually from 2028. SK hynix, meanwhile, revised its annual bonus structure through a labor–management agreement reached in September. The company will allocate 10 percent of its annual operating profit to employee bonuses, a level that, given its workforce of around 33,600, amounts to more than 100 million won—about 70,000 dollars—per employee on average. 2025-11-04 17:35:17