Seoul expects details on nuke submarine and wartime command in SCM week SEOUL, November 03 (AJP) - Seoul and Washington are expected to discuss detailed plans for the transition of wartime operational control (OPCON) and South Korea’s nuclear-powered submarine initiative — two agenda items that could reshape the country’s self-defense posture — during this week’s high-level bilateral security talks. The 57th annual Security Consultative Meeting (SCM), set for Tuesday in Seoul, is expected to focus on adjustments to the combined defense strategy and the future direction of alliance cooperation. U.S. Defense Secretary Pete Hegseth arrived in Seoul on Monday and is scheduled to tour the Joint Security Area (JSA) with South Korean Defense Minister Ahn Kyu-baek later in the day. It marks the first time in eight years that the defense chiefs of both nations have jointly visited the inter-Korean border, following the 2017 trip by Song Young-moo and James Mattis. In line with President Donald Trump’s recent declaration of a “stronger-than-ever” alliance during his visit to Korea, the two ministers will meet South Korean and U.S. service members stationed in the JSA and reaffirm the importance of their combined defense posture. On Tuesday, Hegseth and Ahn will hold formal talks in Seoul as part of the SCM — the first since both governments launched new administrations. The meeting is widely seen as a key juncture to recalibrate alliance roles and adapt them to evolving regional security challenges. Two of the most closely watched topics will be the OPCON transfer and Seoul’s nuclear-powered submarine plan. During his flight to Kuala Lumpur last week for the ASEAN Defense Ministers’ Meeting Plus, Hegseth called Korea’s OPCON transition efforts “a commendable step forward.” Ahn has said Seoul “welcomes U.S. support for the transition” and aims to complete it within the current administration’s term. The nuclear-powered submarine issue is also expected to receive detailed treatment. The discussion follows an agreement reached by Presidents Lee Jae-myung and Donald Trump during last week’s APEC Summit in Gyeongju. Both governments are preparing a three-page “joint fact sheet” summarizing the agreement, reportedly stating that “the United States and South Korea will work together toward the construction of South Korea’s nuclear-powered submarines.” Separately, Seoul has been moving rapidly to build up autonomous defense functions. On Sunday, the Defense Ministry announced that South Korea’s fifth military reconnaissance satellite had been successfully launched from Cape Canaveral Space Force Station in Florida aboard a SpaceX Falcon 9 rocket. The satellite reached its designated orbit 14 minutes after liftoff and established contact with a ground station an hour later. With this launch, South Korea now has a complete fleet of five reconnaissance satellites, enabling around-the-clock monitoring of North Korea with an observation interval of roughly two hours. The ministry said the satellite network allows “independent, all-weather surveillance across the entire Korean Peninsula” and marks a “milestone in strengthening South Korea’s defense autonomy.” The latest satellite is equipped with a Synthetic Aperture Radar (SAR) sensor capable of detecting objects as small as 30 centimeters — even at night or through clouds and rain. The capability enables near real-time tracking of North Korean missile launches and troop movements, enhancing the precision of Seoul’s Kill Chain preemptive strike system. The ministry called the launch “a significant step toward self-reliant defense,” noting that it reduces Korea’s dependence on U.S. intelligence assets. The Defense Acquisition Program Administration (DAPA) plans to deploy about 40 small satellites over the next several years, with the first launch slated for late next year. This week’s SCM comes at a pivotal moment as Seoul’s expanding defense capabilities converge with Washington’s efforts to update alliance structures. Following Tuesday’s meeting, the two governments are expected to release a joint statement outlining agreements on OPCON transfer, submarine cooperation, defense cost-sharing, and long-term alliance priorities. 2025-11-03 17:07:27

HS Hyosung acquires Belgium's battery materials company for $145 million SEOUL, November 03 (AJP) - South Korea's HS Hyosung Group said Monday it has entered the next-generation battery materials market with the acquisition of EMM, the battery anode subsidiary of Belgium’s Umicore, for about 200 billion won, or roughly $145 million. The deal also includes the creation of a joint venture between the two companies to advance silicon anode technology. Umicore, specialized in materials science, has long been known for its expertise in battery components, catalysts, and semiconductor materials, as well as its historic role in early nuclear research — its facilities once hosted Marie Curie’s experiments on radon and uranium, according to HS Hyosung. The acquisition positions HS Hyosung at the forefront of efforts to commercialize silicon anodes, a technology widely regarded as the next leap in electric vehicle batteries. Silicon anodes can store more than 10 times the energy density of traditional graphite anodes, potentially slashing charging times and boosting vehicle range and efficiency. The investment reflects Vice Chairman Cho Hyun-sang’s push to strengthen Hyosung’s portfolio through core technologies and intellectual property, while integrating artificial intelligence into the company’s manufacturing and materials businesses. Cho reportedly led negotiations with Umicore, visiting Belgium several times to finalize the deal. HS Hyosung said it plans to invest 1.5 trillion won over the next five years to scale up production, beginning at its Ulsan facility. The expansion is expected to create high-value jobs and enhance South Korea’s competitiveness in the global battery supply chain. “Our goal is to build a foundation for the next generation of energy materials,” the company said in a press release. “This partnership will allow us to accelerate innovation in silicon anodes and strengthen our global position.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 16:54:52

Actor Yeo Jin-goo to join KATUSA next month SEOUL, November 3 (AJP) - Actor Yeo Jin-goo will begin his mandatory military service with the Korean Augmentation to the United States Army (KATUSA) next month. "Recruited as a member of KATUSA, Yeo will fulfill his 18-month military duty starting Dec. 15," his management agency said on Monday. "We ask for your continued support and encouragement until he returns healthy and more mature after completing his military duty," it added. But the exact time and location of his enlistment have not been revealed. Since his debut with a minor role in "Sad Movie" (2005), Yeo has appeared in various dramas and films including "A Frozen Flower" (2008), "Moon Embracing the Sun" (2012), "The Crowned Clown" (2019) and "Hijack 1971" (2024). * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 16:13:44

HD Hyundai joins hands with Siemens to spur digital transformation in shipbuilding SEOUL, November 03 (AJP) - South Korea's HD Hyundai has signed a partnership with Siemens of Germany to bring digital transformation and automation technologies to the United States shipbuilding industry. The companies signed a memorandum of understanding on Monday at the Lahan Select Hotel in Gyeongju, the venue for the Asia-Pacific Economic Cooperation summit. The agreement calls for collaboration in digital ship design, process automation, and data-driven quality management aimed at improving efficiency and cutting costs in U.S. shipyards. Under the partnership, HD Hyundai will combine its global shipbuilding expertise with Siemens’ digital twin and business platform technologies, which allow virtual modeling of vessels and production lines before physical construction begins. The collaboration will focus on automating assembly and installation processes — core steps in ship construction — and reducing errors through predictive analytics. The initiative also includes a workforce development program. HD Hyundai plans to use Siemens’ 30 training facilities across the United States to provide hands-on instruction for shipbuilding specialists. The two companies will also work with universities, including the University of Michigan and the Massachusetts Institute of Technology, to design curricula on digital engineering, advanced manufacturing, and process automation. “Maximizing production efficiency through digital and automation technologies is crucial for rebuilding the U.S. shipbuilding industry,” HD Hyundai said in a press release. “Our shipbuilding expertise, combined with Siemens’ digital capabilities, will create new opportunities in the U.S. market.” * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-03 16:10:04

POST-APEC: Seoul plays wise and practical in balancing role among global powers SEOUL, November 03 (AJP) -South Korea emerged from the Asia-Pacific Economic Cooperation summit with more than ceremonial optics, securing substantive outcomes from both Washington and Beijing while helping revive multilateral cooperation on shared challenges ranging from artificial intelligence to demographic headwinds. The two-day summit of 21 economies adopted the Gyeongju Declaration, reaffirming APEC’s pillars of trade and investment liberalization, business facilitation, and economic and technical cooperation. The statement also reflected Seoul’s priorities as host, highlighting artificial intelligence, demographic transition, and cultural industries as areas for expanded regional collaboration. President Lee Jae Myung, in his first major test as host of a multinational gathering, moved swiftly to lock in key gains from the United States. During U.S. President Donald Trump’s brief stop in Gyeongju ahead of the formal APEC agenda, the two leaders reached a long-sought settlement on a $350 billion investment and trade package that will lower U.S. tariffs on Korean automobiles from 25 percent to 15 percent. The framework consists of $200 billion in cash investments and $150 billion in shipbuilding projects linked to the Make America Shipbuilding Great Again initiative. Unlike Japan’s agreement signed a day earlier in Tokyo, which front-loads government-led financing, Seoul’s package spreads out spending over several years with a cap of $20 billion annually to prevent currency-market volatility. According to a presidential aide, the structure ensures “commercial rationality” through an equal sharing of returns until the principal is fully recovered, with adjustments possible if the investment is not recouped within 20 years. In one of the most unexpected gestures of the week, Trump endorsed Seoul’s ambition to develop a nuclear-powered submarine, calling it a symbol of “stronger-than-ever” ties. The vessel is slated to be built at Philly Shipyard, acquired last year by South Korea’s Hanwha Group. The U.S. has previously shared nuclear submarine technology only with Britain and Australia, making the concession particularly significant. The concessions came with their share of political theatre. Trump received a replica of an ancient Silla gold crown and the Grand Order of Mugunghwa, South Korea’s highest honor—gestures some U.S. media mocked as ill-timed amid domestic criticism of “king-like” symbolism surrounding Trump. Still, the pageantry helped secure tangible gains for Seoul and a comparatively more flexible deal than Japan’s $550 billion agreement. With Trump’s departure, Seoul shifted quickly to its other high-stakes guest: Chinese President Xi Jinping, making his first visit to South Korea in 11 years. President Lee pressed Xi to play a more active role in urging North Korea back to dialogue, arguing that stability on the peninsula is foundational for regional prosperity. Xi said China would continue efforts to “promote peace and stability,” though Pyongyang dismissed Seoul’s appeal as a “daydream,” according to Vice Foreign Minister Pak Myong Ho. The two countries signed agreements to expand their free trade pact, cooperate on combating online scams, and renew a 70-trillion-won ($49 billion) currency swap that had recently lapsed. Xi also reiterated China’s call for “genuine multilateralism” and proposed establishing a World Artificial Intelligence Cooperation Organization to coordinate global AI governance. On the sidelines, Lee held his first meeting with Japan’s new Prime Minister Takaichi Sanae. The leaders agreed to strengthen cooperation in trade, supply-chain resilience, and emerging technologies, while expanding dialogue on artificial intelligence and demographic challenges—core themes of this year’s APEC agenda. Both reaffirmed the importance of trilateral coordination with the United States in maintaining regional stability, even as Seoul and Tokyo pursue separate investment frameworks with Washington. The Gyeongju Declaration reaffirmed member economies’ commitment to the Putrajaya Vision 2040, a roadmap for open, predictable, and rules-based trade. While acknowledging “significant challenges” to the global system, the statement omitted the phrase “free and open trade” at Washington’s request. Leaders agreed to deepen cooperation on demographic risks and responsible AI development, noting the technology’s potential as both a growth engine and a source of social disruption. 2025-11-03 16:08:29

South Korea urges North Korea to come forward for talks SEOUL, November 3 (AJP) - The Ministry of Unification on Monday urged North Korea to break its silence and return to dialogue, stressing that opportunities for peace on the Korean Peninsula including talks with the U.S. remain open. "South Korea will continue to work toward restoring inter-Korean relations," said Ministry spokesperson Koo Byung-sam during a regular briefing, offering another conciliatory gesture to the isolated country. But the ministry refrained from commenting on why North Korea remained unresponsive to U.S. President Donald Trump's repeated proposals for talks during his visit to South Korea for the Asia-Pacific Economic Cooperation (APEC) summit in the country's southeastern city of Gyeongju last week. Despite Trump's eagerness to meet North Korean leader Kim Jong-un, talks between the two did not materialize, with the North launching a couple of ship-to-surface cruise missiles on the day of his arrival in South Korea, widely interpreted as a signal of rejection. Regarding North Korea's criticism of South Korea's pursuit of denuclearization on the Korean Peninsula, which came just ahead of President Lee Jae Myung's summit with Chinese President Xi Jinping last Saturday, Koo said denuclearization is a shared goal of the international community and that South Korea remains committed to it in cooperation with key allies and other relevant countries. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 15:42:23

Korean Economy/Business Calendar SEOUL, November 03 (AJP) - Nov. 4, Tue Consumer Price Index, October 2025 (Ministry of Data and Statistics) Q3 Results (EcoPro BM) Q3 Results (Krafton) Q3 Results (GS E&C) Nov. 5, Wed Economically Active Population Survey, August 2025 (Ministry of Data and Statistics) Q3 Results (Naver) Q3 Results (EcoPro and its subsidiaries) Q3 Results (Kakao Bank) Q3 Results (Doosan Enerbility) Q3 Results (Hanwha Solutions) Nov. 6, Thu Multicultural Population Dynamics Statistics, 2024 (Ministry of Data and Statistics) Balance of Payments in September 2025 - preliminary (Bank of Korea) Q3 Results (CJ ENM) Q3 Results (StudioDragon) Nov. 7, Fri Q3 Results (Kakao) Q3 Results (KT) Q3 Results (Doosan) Q3 Results (YG Entertainment) Nov. 10, Mon Trade Statistics by Business Characteristics, Q3 2025 - Preliminary (Ministry of Data and Statistics) Q3 Results (NHN) Q3 Results (HYBE) Nov. 11, Tue Social Survey Results 2025 (Ministry of Data and Statistics) Q3 Results (CJ Cheiljedang) Q3 Results (NCSOFT) Nov. 12, Wed Employment Trends, October 2025 (Ministry of Data and Statistics) Monetary and Liquidity Aggregates, September 2025 (Bank of Korea) Q3 Results (Pearl Abyss) Q3 Results (JYP Entertainment) Nov. 14, Fri Export/Import Price + Trade Indexes, October 2025 - preliminary (Bank of Korea) Nov. 18, Tue Household Credit, Q3 2025 - preliminary (Bank of Korea) Nov. 19, Wed International Investment Position, Q3 2025 - preliminary (Bank of Korea) Nov. 21, Fri PPI, October 2025 - preliminary (Bank of Korea) Nov. 25, Tue CSI, November 2025 (Bank of Korea) Nov. 26, Wed Population Trends, September 2025 (Ministry of Data and Statistics) BSI and ESI, November 2025 (Bank of Korea) Nov. 27, Thu Household Income and Expenditure Survey Results, Q3 2025 (Ministry of Data and Statistics) Nov. 28, Fri Industrial Activity Trends, October 2025 (Ministry of Data and Statistics) 2025-11-03 15:32:24

Foreign home purchases fall to 32-month low in S. Korea after new restrictions SEOUL, November 03 (AJP) - Purchases of residential properties by foreigners in the Seoul metropolitan area fell to their lowest level in nearly three years last month, following the government’s introduction of tighter restrictions on foreign real estate transactions. According to data from the court, 560 foreigners completed ownership transfers for homes in Seoul, Gyeonggi Province and Incheon in October — the fewest since February 2023, when only 427 transactions were recorded. Foreign purchases had climbed steadily earlier this year, from 606 in January to a peak of 1,051 in August, before slipping to 976 in September and continuing their decline in October. The downturn coincides with a new permit system for home purchases by foreigners, introduced on Aug. 26, which designated all of Seoul and several surrounding districts as restricted zones. The measure limits purchases to properties intended for residence and requires prior approval from local governments. The measure, part of a broader push to cool speculative housing demand, came amid growing public criticism that foreign buyers were gaining advantages in the housing market, including access to loans and tax loopholes. Under the new rules, foreigners seeking to buy houses must obtain government approval and move into the property within four months of purchase, maintaining residence for at least two years. Authorities have also intensified scrutiny of foreign real estate transactions, referring suspected tax evasion cases to the National Tax Service for investigation. Foreign home purchases dropped across all major regions in October: from 174 to 133 in Seoul, from 540 to 288 in Gyeonggi, and from 262 to 139 in Incheon. Chinese nationals accounted for the largest share with 438 transactions, followed by Americans with 133 and Canadians with 33. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 15:01:24

SK brings global tech giants as well as Korean startups in AI agent ecosystem SEOUL, November 03 (AJP) - SK Group, chip-strong and central to South Korea's AI ambitions through alliances with global leaders such as Nvidia, OpenAI and Amazon Web Services, is positioning itself as a front-runner in the emerging field of AI agent services by leveraging its strengths in high-performance memory chips, wireless networks and hyperscale data-center technologies. "AI is no longer a competition of scale, but a competition of efficiency. This paradigm shift is essential," SK Group Chairman Chey Tae-won said Monday at the opening of the conglomerate's annual AI summit for 2025. More than 30,000 attendees filled Seoul's COEX convention center, reflecting the intensity of AI investment and interest in Korea and signaling a broader shift toward autonomous Agent AI systems that require far more computing power than current AI applications. OpenAI chief executive Sam Altman, appearing via video message, highlighted the expanding partnership with SK, under which the Korean group's chip unit will supply 900,000 high-bandwidth memory (HBM) chips each month for the Stargate AI infrastructure project. Chey pointed to the maturation of inference models, accelerating business-to-business AI adoption, the rise of Agent AI, and intensifying sovereign AI competition as the four forces driving today's explosive computing demand. Global data-center investment reached $600 billion this year, he said, growing about 24 percent annually for the past five years. To ease chip supply bottlenecks, SK hynix is expanding production capacity at its Gwangju facility and pressing ahead with the Yongin semiconductor cluster, scheduled to begin operations in 2027. Each fab at Yongin will have roughly six times the capacity of the company's Cheongju M15X facility, Chey said. At the infrastructure layer, SK is building AI-optimized data centers in Ulsan with Amazon Web Services and in Korea's southwest region with OpenAI. "We are seeking the most efficient and ideal AI infrastructure structure," he said. Amazon chief executive Andy Jassy, in a video address, called SK a key partner in advancing global AI solutions, adding that performance improvements in semiconductors are becoming increasingly vital to building next-generation infrastructure. On the sidelines of the summit, universities and startups showcased Agent AI applications ranging from accessibility services to early childhood development. Chung-Ang University demonstrated an AI assistant that helps elderly and disabled users navigate restaurant kiosks by analyzing interfaces and presenting simplified choices. Yonsei University presented A-Eye, a walking-assistance service for the visually impaired that analyzes video input and provides real-time directions such as warning of obstacles or suggesting safe paths. Startup Todak Todac unveiled diagnostic tools that monitor muscle development, social interaction and cognitive patterns in young children, with plans to connect families to counselors for further support. SK stressed that it does not intend to compete with its partners but instead aims to create collaborative AI business opportunities. The group is already applying AI inside its manufacturing operations, including efforts to develop a fully autonomous memory-chip production system using Nvidia's Omniverse simulation platform. The summit also featured presentations from Nvidia's Tim Costa on next-generation semiconductor design, Kakao chief executive Chung Shin-a on sustainable AI agent development, and Anthropic co-founder Ben Mann on building safe and trustworthy AI systems. SK Group said it aims to contribute to building a Korean AI ecosystem that supports the government's goal of becoming one of the world's top three AI powers, with a focus on semiconductors, infrastructure and AI model development through partnerships with domestic and international companies. 2025-11-03 14:57:58

Celltrion wins Irish approval for purchase of Eli Lilly plant in New Jersey SEOUL, November 03 (AJP) - South Korean biopharmaceutical company Celltrion said Monday that it has received approval from the Irish government for its planned acquisition of Eli Lilly’s manufacturing facility in the United States, leaving only U.S. regulatory clearance before the deal can close. The Competition and Consumer Protection Commission of Ireland granted final approval for the purchase on Oct. 31, according to Celltrion. The deal requires the review under Irish competition law because it involves an Eli Lilly subsidiary that generates revenue in Ireland. Celltrion’s U.S. subsidiary is now seeking to acquire the New Jersey-based plant from Eli Lilly for about $330 million. Celltrion said the approval was granted swiftly thanks to what it called “effective communication and the anticipated benefits of the acquisition.” With U.S. approval now the final step, the company said it has encountered no significant issues in the acquisition process so far. "We will diligently prepare for the remaining steps to secure approval promptly," the company said in a press release. Celltrion aims to complete the deal by the end of the year, positioning the acquisition as part of its strategy to reduce tariff risks and strengthen global supply chain resilience amid geopolitical uncertainty. The company said it plans to integrate local production, packaging, logistics and sales to enhance operational efficiency. The company described the purchase as a “key driver” for expanding its global production capacity and boosting shareholder value. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-03 14:11:13