Former North Korean figurehead dies at 97 SEOUL, November 4 (AJP) - North Korea's former perennial nominal head of state, Kim Yong-nam, has died at the age of 97, state media reported on Tuesday. The state-run Korean Central News Agency (KCNA) said leader Kim Jong-un, accompanied by premier Pak Tae-song and other top officials, visited a memorial altar in the small hours and expressed "deep condolences over his death." According to the KCNA, the nonagenarian, who had served under the hereditary dynasty from founder Kim Il-sung through his son Kim Jong-il to his grandson and current leader, died the previous day from multiple organ failure caused by complications of cancer-related acute poisoning. Kim, who is no relation to the ruling Kim family, held the ponderous title of "president of the presidium of the Supreme People's Assembly" from 1998, maintaining his position as the titular head through leadership changes without facing demotion or political purges while playing a key role in foreign affairs until his retirement in 2019. The funeral is scheduled to be held as a state event later in the week. 2025-11-04 09:55:24

OPINION: Trump's 'beautiful' tariffs and waning trust in US power SEOUL, November 04 (AJP) - U.S. President Donald Trump calls tariffs the “most beautiful word.” True to that conviction, he has wielded them like a hammer — striking friends and foes alike, unsettling global markets, and testing the limits of American diplomacy. He claims these hard-edged tactics have brought results: smoother negotiations with South Korea and Japan, a temporary truce with China, and what he boasts are eight global conflicts “resolved” under his watch. He has even called himself a “peacemaker” deserving of the Nobel Peace Prize. Yet behind the “America First” slogan lies a pattern of contradictions. Trump’s foreign policy often advances not the interests of the United States, but those of Donald Trump. It is, in truth, "Trump First." His tariff wars have generated political theater but little economic stability. Inflation rose, growth slowed, and the fiscal deficit widened — all outcomes at odds with his promises of prosperity. Rather than asking the wealthiest Americans and corporations to contribute more, he signed what he called the “One Big Beautiful Act,” a sweeping tax cut that drained federal revenues while enriching those already at the top. Even his confrontation with China, ostensibly to preserve American leadership, has been more symbolic than strategic. When negotiations grew difficult, he stepped back — earning the derisive nickname “TACO,” for retreating under pressure. His combative trade policies toward allies have further weakened the anti-China coalition the United States spent decades building. Trump’s pledge to revive American manufacturing, meanwhile, has run aground on practical limits. The United States faces a shortage of skilled workers and a lack of industrial infrastructure. Foreign firms may open automated factories on U.S. soil to avoid tariffs, but such facilities create few jobs and do little to restore the nation’s competitive edge. His approach to global conflict follows the same pattern: short-term deals instead of lasting peace. His administration’s promotion of cryptocurrencies, paired with the surge in gold prices, has even raised questions about confidence in the U.S. dollar — the cornerstone of American economic power. What unites these efforts is not a clear vision of America’s role in the world, but a relentless pursuit of self-promotion. Projects such as “Trump Coin” and the “Gold Card” investment-immigration program appear less about national interest than personal gain. His tax policies, too, have disproportionately benefited the wealthy — including his own family. Political scholar James David Barber, in The Presidential Character, described leaders like Trump as “active-negative”: driven by an urgent need to change the world but lacking a constructive purpose. Like Richard Nixon, he is ambitious yet insecure, and dangerously susceptible to flattery from foreign strongmen who know how to exploit his ego. Hopes that a second Trump term might bring maturity or steadier judgment have so far proved unfounded. Surrounded by loyalists who echo rather than challenge him, he seems more convinced than ever of his own infallibility. This self-assurance, combined with impulsive decision-making, poses growing risks for the United States — and for the world. As the rivalry between Washington and Beijing deepens, other nations are reminded of a postwar adage: “Don’t trust the United States, don’t be deceived by the Soviet Union, and Japan will return.” The message endures: alliances must be valued, but independence preserved. For South Korea, that means maintaining its strategic balance — upholding the alliance with the United States while guarding against over-reliance. In an era defined by uncertainty, restraint and prudence may prove far wiser than any “beautiful” tariff or self-declared peace deal. About the author -Former South Korea's Ambassador to Myanmar and Australia -Special Envoy for the National Assembly * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 09:43:44

South Korea's martial law crisis revisited at IBA by leading constitutional scholar SEOUL, November 04 (AJP) - South Korea has successfully defended its democratic institutions in the face of its first declaration of martial law under a democratic government and a surge of disinformation that culminated in a presidential impeachment, a leading Korean constitutional scholar told a global legal audience. Sung Nak-in, former president of Seoul National University and one of Korea’s foremost constitutional experts, detailed the short-lived but deeply damaging martial-law crisis before more than 5,000 delegates at the International Bar Association (IBA) Annual Conference in Toronto, which runs from Sunday to Friday. He spoke at the session titled “Democracy in Crisis: What Is the Role of Access to Justice?” on Monday. South Koreans witnessed the imposition of martial law for the first time in over four decades when then-President Yoon Suk Yeol — a former prosecutor general — made a sudden late-night televised declaration on Dec. 3, 2024. The order was nullified hours later after opposition lawmakers pushed through a legislative veto with the help of civilians who rushed to the National Assembly at midnight to secure entry and enable the vote. Yoon was impeached on Dec. 14 and later arrested and tried on multiple charges. A snap presidential election was held in June, bringing current President Lee Jae Myung to office. Sung, a Paris-educated scholar of constitutional law, described how South Korean society navigated political upheaval, social fragmentation, economic strain, and a proliferation of conspiracy theories and fake news by relying firmly on the rule of law and democratic procedures. The IBA represents more than 80,000 legal professionals from 170 countries. This year’s conference addresses a wide range of global legal challenges including AI and law, business law, climate justice, and the rule of law. 2025-11-04 09:20:28

South Korea's crypto curbs push investors to foreign exchanges SEOUL, November 04 (AJP) - The number of South Korean investors holding large sums in overseas cryptocurrency exchange accounts has more than doubled in a year, reflecting both the global market’s resurgence and growing frustration with South Korea’s restrictive trading environment. According to data from the National Tax Service, 2,320 South Koreans reported offshore crypto accounts exceeding 500 million won (about $360,000) by the end of last year — a two-fold increase from the previous year. The number of such investors was 1,043 in 2021 and 1,432 in 2022, before surging amid last year’s cryptocurrency boom. Under South Korea’s foreign financial account reporting system, individuals and corporations must declare any overseas accounts that hold more than 500 million won at any point during the year. Crypto holdings were newly included in this requirement beginning in June 2023. Of all the accounts reported last year, 75.3 percent were linked to Binance, the world’s largest cryptocurrency exchange — a sharp rise from 52.7 percent in 2022. Industry sources say Binance’s popularity stems from its wide range of trading products and high leverage options, which appeal to risk-tolerant investors but are restricted or banned in South Korea. Binance allows derivatives trading with leverage of up to 125 times, offers low fees, and lists 437 cryptocurrencies — compared with 294 on Upbit, South Korea’s dominant exchange. Upbit, constrained by local regulations and the 2021 enforcement of the Financial Information Act, focuses mainly on conservative spot trading. The gap underscores a broader concern that South Korea’s digital asset market could become increasingly isolated as tighter regulations limit innovation and investment opportunities. Capital inflows to domestic exchanges have slowed in recent years, while global platforms have continued to expand. “Expanding institutional participation and allowing foreign investors into the local market are essential to boost liquidity,” said an official from a domestic exchange who requested anonymity because of the sensitivity of the issue. “Without structural reform, South Korean exchanges will lose their competitiveness.” Industry officials and lawmakers have urged regulators to ease restrictions and encourage market openness, warning that continued rigidity could push more investors offshore — and leave the country’s crypto sector behind. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-04 08:54:59

Korea's HD Korea Shipbuilding posts milestone Q3 profit on brisk vessel sales SEOUL, November 03 (AJP) - HD Korea Shipbuilding & Offshore Engineering Co. on Monday reported its best-ever quarterly performance since adopting a holding-company structure, with operating profit more than doubling from a year earlier to surpass 1 trillion won ($733 million) for the first time. Operating profit jumped to 1.05 trillion won in the July–September period on revenue of 7.6 trillion won, up 21 percent on year. Net income surged nearly fourfold to 876.7 billion won, the company said in a regulatory filing. HD Hyundai Heavy Industries' stock rose 1.16 percent to close at 479,500 won. The flagship shipbuilder of HD Hyundai credited the robust results to a global shipbuilding boom and an increase in high-value vessel deliveries, which more than offset seasonal production slowdowns. Higher ship prices and productivity gains in the commercial vessel business also helped lift profitability, executives said during a conference call Monday. By segment, the shipbuilding division posted an operating profit of 865.8 billion won, up 129 percent from a year earlier, on revenue of 6.20 trillion won, a 16.5 percent increase. The engine and machinery business saw revenue rise 31 percent to 823.6 billion won amid growing demand for dual-fuel engines under tighter global emissions rules, with operating profit soaring 138 percent to 243.2 billion won. The offshore plant division recorded revenue of 280.4 billion won, buoyed by major project deliveries, but swung to a loss due to one-off expenses. HD Korea Shipbuilding serves as the intermediate holding company overseeing HD Hyundai Heavy Industries, HD Hyundai Mipo Dockyard, and HD Hyundai Samho Heavy Industries—together forming the country’s single largest shipbuilding group. 2025-11-03 17:49:02

Asian markets recover, KOSPI and Nikkei continue to test new highs SEOUL, November 03 (AJP) - Asian stocks rebounded on Monday, with South Korea and Japan extending their record-setting rallies on expectations of stronger chip-sector earnings and upbeat corporate results. The benchmark KOSPI jumped 2.78 percent to a new closing high of 4,221.87. Retail investors drove the rally, purchasing 651.2 billion won ($456 million) worth of shares, followed by institutions with 443.2 billion won. Foreign investors sold about 795 billion won, taking profits after the recent surge. Chip stocks again led the charge. SK hynix soared 10.9 percent to 620,000 won ($434.2), marking another all-time high as brokerages including Nomura Securities and Goldman Sachs raised profit estimates. Nomura projected the memory maker’s operating profit to reach 99 trillion won in 2026 and top 100 trillion won in 2027. Samsung Electronics also advanced, adding momentum to the sector’s upward trend. Defense stocks strengthened after reporting strong quarterly results. Hanwha Aerospace climbed 6.44 percent to 1,042,000 won, while Hyundai Rotem gained 6.07 percent to 244,500 won. Both companies said their defense divisions accounted for the bulk of third-quarter earnings, with operating profit rising 79 percent at Hanwha and 102 percent at Rotem. Japan’s Nikkei 225 advanced 2.12 percent to an all-time high of 52,411.34. Konami surged 16.81 percent to 25,740 yen ($167.19) after posting a 48 percent increase in second-quarter operating profit. Japan Tobacco rose 8.93 percent to 5,365 yen on a 27.2 percent profit gain, while Hitachi added 7.15 percent to 5,318 yen, supported by solid third-quarter results and news of a new high-speed rail project in Italy. China’s Shanghai Composite Index edged up 0.55 percent to 3,976.52, trimming last week’s losses. Analysts said gains were limited as the outcome of the Trump–Xi summit largely matched market expectations. Hong Kong’s Hang Seng Index was up 1 percent at 26,160 as of 4:15 p.m., helped by its relative insulation from mainland market pressures. Taiwan’s TAIEX added 0.36 percent to close at 28,334.59, rounding out a broadly positive session for Asian equities. 2025-11-03 17:46:27

Korean brands still in hangover over Jensen Huang's Seoul evening binge SEOUL, November 03 (AJP) - There was nothing casual about the tech boys' night-out in Seoul for "chimaek" — the beloved chicken-and-beer pairing — given the multi-trillion-dollar businesses they represent and the influence they wield over the global economy. The APEC week has officially ended, but the afterglow — and hangover — from Thursday's late-night binge among Nvidia CEO Jensen Huang, Samsung Electronics Chairman Lee Jae-yong, and Hyundai Motor Group Chairman Chung Eui-sun continues to ripple across Korean markets, from stocks to retail sales. The rare sight of the trio — who collectively helm corporate empires near $6 trillion at the time — squeezing into a fried-chicken joint offered an intimate glimpse into the personal lives of some of the world's wealthiest and most influential figures. The scene went instantly viral worldwide. According to Google Trends, global search interest in "chimaek" surged after the meetup, climbing to a score of more than 75 out of 100 the next day — a clear sign of heightened curiosity about Korea's distinctive drinking and food culture. Huang also displayed enthusiasm for Korea's "somaek" — a soju-beer mix — after Samsung's Lee demonstrated the "Tera Tower," Korean liquor company Hite Jinro's beer-soju blending gadget that went viral following its 2022 debut. Somaek is a quintessential Korean drinking ritual often accompanied by games or social gatherings. The term even inspired the global hit "APT." by BLACKPINK's Rosé and Bruno Mars — a reference to a Korean drinking game that propelled the song's popularity. The frenzy extended far beyond the tech sphere, delivering an unexpected viral marketing bonanza for Korean consumer brands. Shares of Kyochon F&B — the only listed fried-chicken franchise — jumped more than 10 percent in early trading, while rival chains BBQ and BHC reported spikes in sales inquiries. Videos of Huang greeting fans outside the restaurant and handing out Korean snacks like banana-flavored milk spread rapidly across social media. Binggrae, the company that produces the banana milk, swiftly seized the moment, posting on Friday: "Giving away 100 banana milks! Thank you, Mr. Huang!" The company said it will randomly select 100 commenters by Thursday to receive an e-gift card and plans to accelerate export promotions while global attention is fixed on the brand. Even the red ginseng product Huang received from a fan drew fresh attention. The item — from Jung Kwan Jang, Korea's leading ginseng producer — was also featured among hospitality gifts provided to visiting leaders at hotels in Gyeongju during the APEC summit. "Korean consumers are especially drawn to products with stories," said Lee Eun-hee, honorary professor of consumer studies at Inha University. "It's not just about taste or quality. People find joy in consuming things tied to a narrative or cultural context. With social media amplifying that storytelling, these moments attract even more attention." After the chimaek spectacle came serious and win-win business. At the APEC CEO Summit, Huang announced Nvidia's plan to supply up to 260,000 GPUs — worth roughly 14 trillion won — to Korean partners, including Samsung, SK Group, Hyundai Motor, and Naver Cloud. Samsung, in turn, will provide next-generation HBM4 memory essential for Nvidia's top-tier GPUs, securing a stable components pipeline amid intensifying global AI demand. Nvidia's collaboration with Hyundai Motor is also expected to deepen, positioning the U.S. chipmaker's "Drive" platform as a potential backbone for Korea's fast-evolving autonomous driving ecosystem. 2025-11-03 17:41:28

Roster unveiled ahead of football matches later this month SEOUL, November 3 (AJP) - South Korea will have this year's final friendlies with Bolivia and Ghana later this month. The Korea Football Association on Monday unveiled the roster for the national team ahead of upcoming matches against Bolivia in Daejeon on Nov. 14 and Ghana in Seoul on Nov. 18. The roster includes regular call-ups who play for overseas clubs such as Son Heung-min of Los Angeles FC in Major League Soccer (MLS), Lee Jae-sung and Kim Min-jae of Bundesliga clubs Mainz 05 and Bayern Munich, and Lee Kang-in of Paris Saint-Germain Among the notable inclusions is striker Cho Gue-sung of Danish Superliga club Midtjylland, who is returning about 20 months after his last appearance in March 2024 due to knee surgery and related complications. Head coach Hong Myung-bo, who recently met him in Denmark, said, "The coaching staff assessed his condition several times and concluded he is fit for the matches." Yang Min-hyeok, a forward for Portsmouth on loan from Premier League club Tottenham Hotspur, is rejoining the national team after eight months, while Kwon Hyuk-kyu of FC Nantes earned his first call-up under Hong's leadership. The squad will gather next week to prepare for the matches at a new facility for national football players in Cheonan, South Chungcheong Province, marking the first time it will be used since opening last month. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 17:40:23

PHOTOS: 2025 Small Business Convention opens with craftsmanship and passion on display SEOUL, October 31 (AJP) - The 2025 Korea Small Business Convention opened on October 31 at KINTEX in Goyang, Gyeonggi Province. Now in its 20th year, the convention is South Korea’s largest annual event dedicated to small business owners, aimed at elevating their social and economic standing while fostering communication and unity within the community. Held under the theme "Small Businesses Opening Today, Connecting Tomorrow’s Korea," this year’s event celebrates the achievements of entrepreneurs across the country and explores new drivers for growth. Over two days, the convention features an opening ceremony, skills competitions, exhibitions, and seminars. From October 31 to November 1, more than 1,540 small business owners from across the country are showcasing their skills and creativity in the 2025 Small Business Skills Championship. Organized by associations including the Korea Outdoor Advertising Association, the Korea Bakers Association, the Korea Makeup Artists Association, the Korea Florists Association, and the Korea Culinary Masters Association, the competition spans categories such as advertising design, baking, makeup, floral arrangements, and culinary arts. Contestants approached their craft with remarkable focus and sincerity. In an age when artificial intelligence is transforming industries, the passion expressed through their hands filled the venue with energy. Machines may evolve, but human touch and sincerity remain irreplaceable. The skill and dedication on display illuminated this year’s championship, reminding visitors that the beauty of human craftsmanship endures beyond time. 2025-11-03 17:30:07

Kazakhstan goes all-in on AI in bid to emerge as regional leader ASTANA, November 03 (AJP) - Soviet-era government buildings in Kazakhstan’s capital now hum with modern servers and fiber-optic cables as the Central Asian nation pushes to reposition itself as the region’s leading digital economy. The country of 20 million has already emerged as a GovTech leader, ranking 24th globally in the UN’s e-Government Development Index and 10th in online services. It is now doubling down with an expansive AI strategy built on supercomputing infrastructure, hyperscale datacenters and an unusual pitch to global investors: partnership without geopolitical complications. “We’re not just building infrastructure. We’re building a national AI platform that gives every government agency access to the same tools, from large language models to 120 government databases,” Dmitriy Mun, Vice Minister of AI and Digital Development, told AJP in an exclusive interview. Kazakhstan’s digital overhaul has been decades in the making. Mun noted that the country has more than 25 years of experience in GovTech, beginning with physical service centers, then digitization, then mobile platforms. By the time COVID hit, the foundation was in place for a major shift toward digital public services. A key breakthrough came with the Smart Bridge platform, a marketplace for government APIs that allows private banks and companies to tap directly into state databases. Its people can access government services through private banking apps, with cashless payments accounting for 85 percent of transactions. The eGov mobile app has 11 million users — 96 percent of the adult population — accessing more than 1,000 services without visiting an office. Kazakhstan launched its National AI Platform in December 2024. The platform has signed 43 use cases across government, with 10 already implemented and a roadmap for 50 AI agents. An AI assistant called eGov AI has handled more than 800,000 user requests in four months. Another agent, e-Otinish AI, processes 160,000 of the country’s 4 million annual citizen appeals across 15 agencies. Qazaq Law answers legal questions with 86 percent accuracy, and a reengineering assistant helps civil servants identify regulatory changes needed to streamline procedures. The Smart Data Ukimet platform aggregates data from over 120 state databases, powering the Digital Family Card, which tracks 6 million families and delivers 4 million proactive public services automatically. Kazakhstan’s AI ambitions depend heavily on access to compute. The country operates a supercomputer built on 63 NVIDIA H200 GPUs under the ALEM.AI initiative. Securing the hardware required extended conversations with the United States beginning in 2023, Mun said, given Kazakhstan’s proximity to China and Russia. The country initially considered working with Groq but pivoted when the startup moved to an API-only model. A second NVIDIA-based system with 62 GPUs now serves Samruk-Kazyna, the state holding company, and a third supercomputer is planned for universities. Kazakhstan treats high-grade compute as a strategic asset, offering tax exemptions and preferential customs treatment. Mun said the resource-rich country's biggest constraint is not capital but talent. “We really need new talents who understand both AI and the processes in their field. I need experts in AI in oil, AI in logistics. I need to mix knowledge with AI.” Kazakhstan plans to train one million people in AI over the next three to four years. Nineteen universities are establishing AI faculties that combine technology with sector-specific majors, with students paired with industry partners. Primary schools are also introducing AI curricula. Datacenter capacity is expanding rapidly. Kazakhstan plans to build 200 megawatts of capacity with $1.5 billion in investment between 2025 and 2030, with more than four projects already underway. Special Economic Zones offer zero VAT, corporate tax exemptions and customs-duty waivers to attract hyperscale operators. The cloud services market has grown to $110 million as of late 2024. South Korea has emerged as a key partner in Kazakhstan’s digital push. Officials say the two countries already have five years of experience in data management cooperation, with ongoing projects ranging from speech detection tools to the Maui City smart-city initiative. Mun said he hopes to strengthen partnerships in datacenter construction, smart-city pilots in Astana and Almaty, and joint education programs. “What I would like to learn more about is smart cities in Korea — flying taxis, air taxis,” he said. Asked which sectors stand to gain the fastest from AI adoption, Mun cited agriculture, oil, mining and logistics. Samruk-Kazyna has already developed an AI agent roadmap across these areas. “We are in the top ten in the OECD online services index. We have the most powerful supercomputer in Central Asia. We have strong AI talent — Higgsfield AI, a Kazakh startup, recently became a unicorn. We have special economic zones with tax benefits,” he said. “Kazakhstan offers opportunity and stability. We are strategically located between Europe, China and South Asia. Major hyperscale projects are underway.” The scale of activity reflects that ambition: hyperscale datacenters under construction, AI agents processing millions of citizen queries, universities rolling out AI programs and the government treating compute capacity as a national strategic priority. Whether Kazakhstan successfully establishes itself as Central Asia’s digital hub remains uncertain, but with $1.5 billion committed to datacenter infrastructure and NVIDIA-powered supercomputers already in operation, the country is placing a determined bet on AI-driven transformation. 2025-11-03 17:24:42