INTERVIEW: UAE, Korea deepening hydrogen and CCS partnership as they look beyond nuclear SEOUL, November 04 (AJP) - The governments of the United Arab Emirates and South Korea are engaged in "high-level discussions" on joint hydrogen production and hydrogen logistics for future transportation and supply, according to a senior UAE energy official. His Excellency Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the UAE Ministry of Energy and Infrastructure (MoEI), said hydrogen will play a central role in both countries' long-term decarbonization strategies. "Hydrogen has enormous potential for the future, especially in the near term. I see blue hydrogen playing a major role initially, and as production scales up, green hydrogen will come into the picture over the next decade or so," he said in an exclusive video interview with AJP during ADIPEC 2025, which opened Monday in Abu Dhabi. The UAE, backed by abundant natural gas and expanding renewable energy assets, aims to become a major global producer of hydrogen and derivatives such as ammonia. With strong sunlight, the country is also well positioned to scale up production of green hydrogen through solar-based power. Al-Olama said there is "significant potential for cooperation not only with the Korean government but also with the private sector," emphasizing that Korea remains one of the UAE's most trusted partners in energy development. Decarbonization through carbon capture and storage is another area where Abu Dhabi is looking for Korean expertise in what its top officials called the "post-Barakah era," referring to cooperation beyond the landmark Barakah Nuclear Power Plant. Built with South Korean technology, Barakah is the Middle East's first commercial nuclear facility. Its first reactor began operation in 2020, and all four units were running by 2024, marking South Korea's first nuclear export and a milestone in the UAE's broader agenda to reduce dependence on oil and reach net-zero emissions. "The UAE already has extensive experience in capturing emissions from steel plants and refineries and then storing or reusing them in our oil and gas fields," he said. "These proven cases provide a valuable foundation for joint technology development with Korea." He noted that Korea's strengths in carbon-neutral technologies, combined with the UAE's industrial base, could accelerate the development of a regional low-carbon energy ecosystem. Al-Olama did not elaborate on specific ventures currently under review or name potential corporate partners, but noted that Korean companies are likely to be considered with priority, given the strong foundation of trust and proven partnership established through the Barakah project. "We have already seen the success of this partnership through the Barakah Nuclear Plant, and I believe there will be many more joint achievements in the future," he said. During the APEC Summit in Korea last week, President Lee Jae-Myung met with Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, calling the 2009 Barakah contract a "turning point" in bilateral relations. Since establishing diplomatic ties in 1980, the UAE and Korea have expanded cooperation across energy, construction, and industrial technology, and Al-Olama said the relationship is now branching into new areas of innovation and sustainability. Water management is emerging as another field of bilateral partnership. Al-Olama said the Ministry is working closely with K-water to explore the deployment of AI-based systems to reduce non-revenue water—losses caused by leaks across the national pipeline network. The goal is to apply detection models that can identify weak points earlier and significantly raise the efficiency of water infrastructure. "We are learning from Korea's successful examples of AI applications in infrastructure management and are adopting many of those practices in the UAE," he said. He added that there is active dialogue and concrete progress underway between K-water and UAE's utility providers. Al-Olama described the evolving UAE–Korea energy partnership as a strategic alliance moving beyond individual engineering projects toward broader technological cooperation. He said combining the two countries' capabilities in AI, hydrogen, carbon capture, and water technology could offer a new model for global energy transition. The official also encouraged more Korean firms to pay attention not only to ADIPEC but also to the Global Energy Efficiency Alliance, an initiative launched by the UAE government. "Energy is essential for economic growth and prosperity, but we must manage it intelligently to achieve the right impact," he said. This year's ADIPEC, one of the world's largest energy conferences, hosted more than 2,250 exhibitors, including major Korean companies such as Samsung E&A. The event served as a global platform for setting the next direction of the energy industry as it moves toward cleaner, smarter systems. Al-Olama highlighted that the Global Energy Efficiency Alliance gathers governments, private companies, financiers, and NGOs on a single platform. "Korea has many companies with the expertise and technologies to enhance energy efficiency, and these companies can help industries in the UAE and around the world become more energy-efficient," he said. 2025-11-04 17:34:59

Asian markets retreat as regional winners KOSPI and Nikkei give way to profit-taking SEOUL, November 04 (AJP) - Asian stocks fell across the board Tuesday as profit-taking swept through the region, with South Korea’s KOSPI posting the steepest loss among major Asian benchmarks and Japan’s Nikkei 225 also tumbling sharply. South Korea’s KOSPI slid 2.37 percent to close at 4,121.74, wiping out the previous day’s gains. Foreign investors dumped 2.2 trillion won ($1.5 billion) worth of shares, joined by institutional investors who offloaded 498.6 billion won. Individual investors, however, stepped in aggressively, net buying 2.6 trillion won as they searched for bargains in a market that recently enjoyed historic momentum. Chip heavyweights that had powered recent rallies on strong earnings and the so-called “Jensen Huang effect” reversed sharply. Samsung Electronics sank 5.58 percent to 104,900 won, while SK hynix fell 5 percent to 589,000 won. Both had surged in recent weeks on record quarterly results and NVIDIA CEO Jensen Huang’s high-profile visit to Seoul, but succumbed to heavy profit-taking. SK hynix’s pullback was further intensified after the Korea Exchange designated the stock as an “investment alert,” citing excessive use of margin accounts following its more than 10 percent jump the previous session. Defense stocks that had soared on blockbuster earnings also retreated. Hanwha Aerospace slipped 3.07 percent to 1,010,000 won, while Hyundai Rotem fell 5.93 percent to 230,000 won. By contrast, copper and cable shares rallied after Microsoft CEO Satya Nadella warned in a podcast that “the AI industry will face bottlenecks if power supply issues are not resolved.” Taihan Cable surged 7.75 percent to 27,100 won, and LS, the parent of LS Cable, gained 2.3 percent to 222,500 won. The tech-heavy KOSDAQ bucked the broader decline, rising 1.31 percent to 926.57, led by a strong rebound in biotech. HLB, the fifth-largest company on the index, jumped 13.68 percent to 53,600 won after announcing plans to issue 201 billion won ($140 million) in exchangeable bonds to U.K.-based hedge fund LMR Partners. In Japan, the Nikkei 225 dropped 1.74 percent to 51,497.20, as investors locked in profits following the index’s run of record highs. AI-linked names led the pullback, with Advantest tumbling 5.86 percent to 21,780 yen ($141.8) and SoftBank Group sliding 7 percent to 25,160 yen. Cable-related stocks in Tokyo mirrored Seoul’s strength, with Sumitomo Cable jumping 7.3 percent to 412 yen, lifted by Nadella’s comments on looming power-supply constraints. Elsewhere in the region, China’s Shanghai Composite Index dipped 0.41 percent to 3,960.19 on persistent unease over U.S.–China trade tensions. Taiwan’s TAIEX lost 0.77 percent to 28,116.56, while Hong Kong’s Hang Seng Index fell 0.79 percent to 25,952.40. 2025-11-04 17:34:29

Game developer Krafton posts robust revenue in Q3 SEOUL, November 4 (AJP) - Game developer Krafton has posted a hefty 870.6 billion Korean won (US$605 million) in its third-quarter revenues, up 21 percent from a year earlier, driven by robust growth in its PC and mobile gaming operations. According to a regulatory filing released on Tuesday, the maker of "PUBG: Battlegrounds" saw its quarterly operating profit rise 7.5 percent year-on-year to 348.6 billion won. The strong quarterly performance pushed nine-month cumulative operating profit to a record 1.05 trillion won, the first time the company has surpassed the 1 trillion won milestone since its founding. Krafton attributed the surge to its PC platform, with revenue surging 29 percent year-on-year to hit a quarterly record of 353.9 billion won, fueled by the popularity of the PUBG franchise and various collaborations with popular artists and auto brands. Its mobile division also generated 488.5 billion won, largely due to record performance from the Battlegrounds series, exclusively available in India. To grow its popular battle royale game, the developer plans to expand ongoing IP collaborations and upgrade it into a next-generation platform with a new game engine and more diverse, user-engaging content. Krafton is also working on about a dozen new projects, with plans to unveil "Palworld Mobile" at the annual G-STAR gaming exhibition in Busan, slated for Nov. 13. "We will continue to strengthen our specialized capabilities while expanding our IP lineup across various genres," Krafton said. It added that it is building a Graphics Processing Unit (GPU) cluster worth 100 billion won and developing a 500-billion-parameter foundation model in partnership with SK Telecom as part of its strategy to become a leading company in the AI-led era. Even with strong performance, Krafton's shares fell slightly, closing at 279,000 won, down 0.18 percent from the previous session. 2025-11-04 16:48:50

Korean streamer TVING to launch K-content hub on Disney+ in Japan SEOUL, November 04 (AJP) - South Korean streaming platform, TVING, said Tuesday it has formed a partnership with Disney+ to enter the Japanese market. TVING said it will launch the “TVING Collection on Disney+” in Japan, offering a curated lineup of original Korean series, including Transit Love, Pyramid Game, and Yumi’s Cells, along with other popular titles from CJ ENM, its parent company. Japan is one of the world’s largest and most competitive streaming markets. According to market research firm Precedence Research, Japan’s over-the-top (OTT) streaming market was valued at about $8 billion in 2024 and is projected to grow by 22.5 percent annually through 2034. Japanese audiences are also among the most active consumers of Korean dramas and reality shows in Asia. Disney+ held a 9 percent share of Japan’s streaming market last year, up 34 percent from 2022, according to the Korea Creative Content Agency. It trails Netflix (21.5 percent), local platform U-Next (17.9 percent), Amazon Prime Video (13.1 percent), and sports streaming service DAZN (9.4 percent). Instead of launching its own platform in Japan, TVING adopted a “shop-in-shop” model, integrating its content within Disney+ to increase exposure and reduce financial risk — a strategy similar to its earlier collaboration with Apple TV. Industry analysts say the approach allows TVING to expand its global footprint without the heavy costs of operating an independent service abroad. For Disney+, the partnership reflects a growing emphasis on localization and regional storytelling. Celebrating its fifth anniversary in Japan this year, the company has sought to attract younger and more diverse audiences by pairing its blockbuster franchises with popular Asian originals. “Partnering with Disney, a company with a long and storied legacy, offers an opportunity to showcase TVING’s content effectively to Japanese viewers,” said Choi Joo-hee, TVING’s chief executive. “We aim to bring compelling Korean stories to audiences around the world, beyond our domestic success.” Tamotsu Hiiro, CEO of the Walt Disney Company Japan, said the collaboration “marks an important milestone” as Disney+ broadens its content mix. “By combining Korean storytelling with Disney’s global blockbusters and local hits, we hope to deliver a richer viewing experience for Japanese audiences,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 16:38:39

Prosecutors raid Korea Zinc, brokerages in expanding stock issuance probe SEOUL, November 04 (AJP) - South Korean prosecutors carried out additional raids on Korea Zinc and securities firms involved in the company’s stock issuance plan, widening an investigation into alleged violations of capital market laws. A joint investigation team of the Seoul Southern District Prosecutors’ Office, led by Chief Prosecutor Kim Jin-ho, searched Korea Zinc’s headquarters and other locations on Tuesday, seizing computers and internal records. Investigators also raided the offices of Mirae Asset Securities, the lead underwriter, and KB Securities, a co-underwriter, as well as certain departments at Hana Bank. The probe centers on allegations that Korea Zinc, one of the world’s largest zinc smelters, may have engaged in unfair trading practices related to its 2.1 trillion won ($1.5 billion) stock issuance plan announced on Oct. 30 last year, shortly after a share buyback. Authorities suspect the firm may have concealed plans to use the new share sale to finance the earlier buyback. Mirae Asset is reported to have begun due diligence for the offering on Oct. 14, despite Korea Zinc’s public statements that it had no plans to alter its financial structure following the repurchase. The Financial Supervisory Service, citing concerns over possible investor confusion, ordered Korea Zinc to revise its securities filing, prompting the company to withdraw the issuance on Nov. 13. The Financial Services Commission later referred the case to prosecutors, citing potential violations of capital rules. Tuesday's searches follow earlier raids in April, when prosecutors seized documents from six corporate offices — including Korea Zinc, Mirae Asset, and KB Securities — and five residences linked to the case. Prosecutors are examining whether executives at Korea Zinc or its financial partners coordinated to mislead investors or profit from undisclosed information ahead of the planned stock sale. Korea Zinc shares closed down 3.07 percent, or 32,000 won, at 1,011,000 won on Tuesday. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 15:42:59

Former President Moon Jae-in to promote his bookstore on YouTube SEOUL, November 4 (AJP) - Former President Moon Jae-in is planning to appear on a YouTube channel to promote his bookstore, a former close aide revealed in a radio program on Tuesday. Tak Hyun-min, Moon's former protocol secretary and now a professor at Mokpo National University, said that Moon is preparing to share his thoughts and connect with followers on the channel, where he will appear regularly along with Tak to introduce a couple of books each week. Episodes on the channel are expected to be filmed in Seoul or at his bookstore in Yangsan, South Gyeongsang Province, which he has been running since leaving Cheong Wa Dae in May 2022 after completing his presidential term. The first episode featuring Moon is set to be available later this month. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 15:40:06

POST-APEC: Korea gains major traction in AI push with Nvidia backing SEOUL, November 04 (AJP) - South Korea — once considered a latecomer in the race to artificial intelligence — has rapidly gained global momentum by leading regional governance discussions and securing tens of billions of dollars in investment tied to next-generation chips, hyperscale data centers, and physical AI infrastructure. Its hosting of the APEC Summit and CEO meetings served as a global stage, pulling in top players such as OpenAI, Nvidia, Samsung Electronics, and SK hynix — collectively representing the supply chain powering the AI supercomputing era. South Korea has lined up high-profile commitments worth more than $20 billion across AI data centers, chip supply pipelines, AI agents, and robotics-related platforms over the past two weeks alone. Of that, Nvidia's promised supply of next-generation GPUs — up to 260,000 units — represents nearly $10 billion in hardware firepower, enough to build five to six massive supercomputing centers. During a 20-minute address at the APEC CEO Summit, Nvidia founder Jensen Huang said the reservation of Blackwell-generation GPUs for Korea reflects his "deep confidence" in the country's future in AI. "Korea has the software expertise, deep technical capability, and manufacturing capability to become a powerhouse in AI and robotics," Huang said. Amazon Web Services CEO Matt Garman also announced plans to invest over $5 billion in Korea by 2031 to expand AI-related cloud infrastructure. He held separate talks with the chiefs of Lotte Group, GS Group and LG Electronics to discuss enterprise cloud acceleration. Korea's Ministry of Science and ICT additionally signed an MoU with the United States on cooperation in AI, next-generation communications, biotechnology, quantum science and space. As host, South Korea secured a consensus among all 21 APEC member economies to adopt the APEC AI Initiative — the first collective AI framework proposed within the group. Member countries agreed to cooperate on safe AI transformation, with public, private and academic sectors jointly developing infrastructure and governance guidelines. The momentum is striking given that Korea only enacted its basic AI law last year. President Lee Jae Myung, who took office in June, has been aggressively positioning Korea at the forefront of AI governance and industrial adoption. In his budget pitch at the National Assembly Tuesday, he called next year's spending plan "Korea's first budget for the AI era," allocating 10.1 trillion won for AI — more than triple this year's level. Lee plans to invest 6 trillion won over five years in AI transformation across robotics, automobiles, shipbuilding, semiconductors, appliances and smart factories. The government will also expand AI use in public services, train 11,000 advanced AI specialists, and support nationwide adoption of AI skills for all citizens. Huang's commitment of 260,000 GPUs — a dramatic increase from Korea's current stock below 100,000 — could fundamentally reshape the country's AI compute landscape. The GPU, often described as the "crude oil of the AI age," is the primary power source for model training, inference and physical AI applications. The Nvidia supply alone, estimated at over $7 billion, gives Korean tech companies a rare opportunity to turbocharge domestic AI model development and platform competitiveness. OpenAI echoed that sentiment in an Oct. 23 report: "With its world-class technology ecosystem, strong industrial and digital infrastructure, and globally respected talent, Korea has all the foundations to become one of the next great AI powerhouses." Despite the optimism, Korea's AI trajectory faces potential geopolitical headwinds. In a CBS interview aired Nov. 2, U.S. President Donald Trump suggested he could restrict Nvidia's Blackwell chips from being exported outside the United States. "We don't give the Blackwell chip to other people," Trump said. The comment was directed at China, but experts warn the timing — coming just days after Nvidia's large-scale commitment to Korea — could raise uncertainty over future export rules or licensing conditions. 2025-11-04 15:35:31

Dismantling work begins on South Korea's long-shuttered nuclear reactor SEOUL, November 04 (AJP) - Doosan Enerbility has begun dismantling South Korea’s first commercial nuclear reactor, which was shut down in 2017. The company said on Tuesday that it signed a contract with Korea Hydro & Nuclear Power to remove non-controlled area facilities at the Kori Unit 1 plant, located near the southeastern city of Busan. The project represents the first phase of dismantling Kori Unit 1, which began operations in 1978 and was permanently shut down in 2017 due to safety concerns. The government approved its final decommissioning plan in June, paving the way for physical dismantling work to begin. Doosan Enerbility, leading a consortium with HJ Heavy Industries and KEPCO KPS, will remove secondary systems — including turbines, piping and auxiliary equipment — by 2028. The signing ceremony in Seoul was attended by Jo Seok-jin, vice president of Korea Hydro & Nuclear Power, and Kim Jong-doo, president of Doosan Enerbility’s nuclear business group. “This project carries historical significance as the first dismantling of a commercial nuclear power plant in Korea,” Kim said in a statement. “We are committed to leveraging our decades of expertise to ensure its safe and successful completion.” Doosan Enerbility has positioned the project as a springboard for expanding its presence in the global nuclear decommissioning market. According to the International Atomic Energy Agency, the number of reactors permanently shut down worldwide is projected to rise from 214 to 588 by 2050, as more countries retire aging nuclear facilities. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 15:13:51

HOT STOCK: Samsung SDI shares jump on report of Tesla battery deal SEOUL, November 04 (AJP) - Shares of Samsung SDI climbed more than 4 percent in afternoon trading on Tuesday following a news report that the South Korean battery maker may supply more than 3 trillion won ($2.08 billion) worth of energy-storage system batteries to Tesla over the next three years. As of 2:20 p.m. in Seoul, Samsung SDI’s stock was up 4.1 percent at 340,500 won, extending gains after the report circulated in local media. The company, a unit of Samsung Group, develops rechargeable batteries for electric vehicles, energy-storage systems and IT devices, as well as electronic materials for semiconductors and displays. The report said Tesla’s demand for energy-storage systems, or ESS, has grown rapidly amid heavy investment in artificial intelligence data centers — prompting the U.S. electric vehicle maker to seek additional battery suppliers. If finalized, the deal could involve batteries produced at Samsung SDI’s factory under construction with Stellantis in Kokomo, Indiana, according to the report. When the Indiana project was announced in October 2023, CNBC reported that the two companies planned to invest about $3.2 billion in the facility. Industry analysts estimate that the potential Tesla supply agreement could reach an annual capacity of roughly 10 gigawatt-hours. Samsung SDI, however, denied that a deal had been concluded. “Reports suggesting that a deal between the two companies had been finalized are not true,” a company spokesperson said. “Negotiations are still underway, and the company has issued a regulatory filing to clarify the matter.” The market reaction also lifted sentiment toward Samsung SDI’s suppliers, including EcoPro BM, which produces cathode materials used in the company’s batteries. EcoPro BM reported an operating profit of 50.7 billion won ($36.6 million) for the third quarter, marking its third consecutive quarterly profit, driven by higher sales of energy-storage materials and investments in nickel refining projects in Indonesia. EcoPro BM, which also supplies SK On, said its 10 percent stake in an Indonesian nickel smelting project has helped stabilize raw material sourcing and improve profitability. The company expects further growth once its new plant in Debrecen, Hungary, begins operations. 2025-11-04 14:36:28

Unification minister sends condolences to former North Korean figurehead SEOUL, November 4 (AJP) - Unification Minister Jeong Dong-young on Tuesday expressed condolences over the death of North Korea's former perennial nominal head of state Kim Yong-nam. In a statement, Jeong said, "We express our condolences over Kim's death and extend our deepest sympathies to his family on behalf of the government," adding that Kim had led the North Korean delegation to the 2018 Pyeongchang Winter Olympics, contributing to inter-Korean dialogue. Jeong also recalled meeting him in Pyongyang in June 2005 and September 2018, during which they discussed ways to improve inter-Korean relations and promote peace on the Korean Peninsula. With inter-Korean communication channels currently severed, the ministry opted to release a public statement rather than send a condolence message, according to a ministry official. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 14:34:31