South Korea's KakaoBank posts record profit in 2025, eyes overseas expansion SEOUL, February 04 (AJP) - South Korean internet-only lender KakaoBank reported record annual earnings on Wednesday with pledges to pursue overseas expansion and mergers and acquisitions to secure future growth. In a regulatory filing, KakaoBank said net profit last year rose 9.1 percent to a record 480.3 billion won ($360 million), compared with 440.1 billion won a year earlier. The bank said declining market interest rates weighed on interest income, but noninterest income posted strong growth. Operating revenue reached 3.08 trillion won. Interest income fell 2.9 percent to 2 trillion won from 2.06 trillion won the previous year, while noninterest income jumped 22.4 percent to 1.1 trillion won, surpassing 1 trillion won for the first time and accounting for more than 35 percent of total operating revenue. Annual fee and platform revenue rose to 310.5 billion won, supported by growth in lending and investment platform services as well as advertising operations, the bank said. To diversify revenue sources, KakaoBank plans to introduce new services this year, including foreign-currency accounts in the second quarter and financial services for foreign customers in the fourth quarter to strengthen its deposit base. The bank is also expanding overseas operations. Superbank in Indonesia, in which KakaoBank holds a stake, completed an initial public offering, prompting a change in accounting treatment and generating a first-quarter valuation gain of 99.3 billion won, the bank said. KakaoBank is also moving ahead with plans to establish a virtual bank in Thailand in partnership with Thai financial holding company SCBX. To reinforce existing businesses and expand into new areas, KakaoBank said it is reviewing acquisition opportunities focused on nonbank financial sectors, including payments and capital companies. Chief Financial Officer Kwon Tae-hun said acquiring a capital firm could help the bank enter market segments not easily accessible to internet-only lenders. While profitability has softened following the recent interest rate cycle, such a deal could deliver strong returns during future rate upturns, he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-04 15:55:30

KakaoBank Posts Record 480.3 Billion Won Net Profit, Eyes Payments and Capital M&A Internet-only lender KakaoBank said it posted another record year on the back of rising noninterest income such as fees, even as interest income fell. The company said it will focus this year on overseas business and mergers and acquisitions to secure longer-term growth drivers. KakaoBank said in a regulatory filing on Tuesday that its net profit for last year totaled 480.3 billion won, up 9.1% from 440.1 billion won a year earlier, marking its highest annual result. Interest income declined amid factors including falling market rates, but gains in noninterest income kept overall growth intact. Of last year’s operating revenue of 3.0836 trillion won, interest income was 1.9977 trillion won, down 2.9% from 2.0565 trillion won the previous year. Noninterest income rose 22.4% to 1.0886 trillion won, topping 1 trillion won for the first time and accounting for more than 35% of operating revenue. Annual fee and platform revenue came to 310.5 billion won, helped by growth in its loan and investment platform and advertising business. KakaoBank said it plans to roll out new services this year to diversify revenue. It said it will launch a foreign-currency account in the second quarter and services for foreign customers in the fourth quarter to strengthen its deposit business with new customer segments. The bank also said it will expand overseas operations. It said Indonesia’s Superbank, in which KakaoBank has invested, went public, prompting a change in accounting treatment for its stake and resulting in a first-quarter valuation gain of 99.3 billion won. KakaoBank also said it is speeding up the establishment of a Thailand “virtual bank” in cooperation with Thai financial holding company SCBX. To bolster existing businesses and enter new ones, KakaoBank said it is reviewing acquisitions focused on nonbank financial areas such as payments and capital companies. Kwon Tae Hoon, KakaoBank’s chief financial officer, said a capital company is a positive M&A target because it would allow entry into new markets that internet banks have not been able to reach. He said profitability has weakened after a period of rising rates, but the financial contribution could be significant when considering return on equity levels during boom periods. 2026-02-04 15:42:00

Lee honors war veterans, others with Lunar New Year gifts SEOUL, February 4 (AJP) - President Lee Jae Myung has extended Lunar New Year greetings through gifts to war veterans, the underprivileged, and other vulnerable groups, with the country's biggest holiday just around the corner, Cheong Wa Dae said on Wednesday. The gift package contains a bowl-and-spoon set and ingredients for hearty meals consisting of grains, vegetables, and other local staples selected from across the country, as part of efforts to promote regional development and national unity. More specifically, it features rice from Daegu; other grains from Buan, North Jeolla Province, Yeongwol, Gangwon Province, and Jeju Island; soy sauce from Yangpyeong, Gyeonggi Province; and mushrooms from Cheongyang, South Chungcheong Province. Recipients include prominent figures who have contributed to the country's development, war heroes and their families who sacrificed their lives for the country, and victims who fought for democracy. The gifts reflect Lee's hope that warm, home-cooked meals will bring calm and consolation to recipients' daily lives. In a message, Lee said, "I hope the whole family can sit together around a warm table," adding, "I will work even harder so that tomorrow will be better than today and help you feel real change in your lives." 2026-02-04 15:34:31

Price war at home as K-beauty expands overseas SEOUL, February 04 (AJP) - The quality of K-beauty is no longer in question. With low entry barriers and easy access to standardized ingredients and manufacturing, producing cosmetics has become relatively simple. What now separates winners from losers is speed, packaging, branding and, increasingly, price. As Korean beauty brands continue to expand their global footprint — especially in the United States — competition at home is intensifying around affordability. While K-beauty has evolved from a viral trend into a major export industry, its fiercest battle is unfolding on domestic shelves. That rivalry is sharpening with the latest move by Musinsa, which said it will open the first standalone offline store for its private-label brand Musinsa Standard Beauty on Feb. 12 at Hyundai Department Store’s Mokdong branch in Seoul. The opening marks its formal entry into South Korea’s fast-growing ultra-low-priced cosmetics segment. The move places Musinsa in direct competition with Daiso, which has built a mass-market following around cosmetics priced mostly between 1,000 won and 5,000 won ($0.75 to $3.75). Daiso’s budget beauty line has become a magnet not only for local shoppers but also for foreign tourists seeking affordable K-beauty souvenirs. “Whenever I visit Korea, I clear out the Daiso cosmetics aisles with my credit card,” said Ashley Lee, a Korean American living in the United States. “My colleagues back home always ask me to bring back specific products.” According to Daiso, overseas card transactions across its stores jumped about 60 percent in 2025 from a year earlier. At its Myeongdong Station branch — one of the most popular locations for tourists — foreign card sales rose roughly 40 percent year-on-year from January to November. “The Myeongdong store is among our busiest for foreign visitors, and beauty products are our top-selling category there,” a company official said. Sales data underline how rapidly budget beauty has grown. At Asung Daiso, cosmetics sales surged 85 percent in 2023, 144 percent in 2024 and 70 percent in 2025, making the segment one of the fastest-expanding corners of Korea’s retail market. Larger players, including Olive Young and major hypermarkets, have since moved in, intensifying competition for value-conscious consumers. Musinsa is positioning itself squarely in that battleground. Its Musinsa Standard Beauty products are mostly priced between 3,900 won and 5,900 won ($2.90 to $4.40) — slightly above Daiso’s entry-level range but well below typical mid-priced offerings at health-and-beauty chains. The pricing reflects an effort to carve out a “value-for-money” niche rather than compete directly in premium branding. Its first beauty-only store will span about 30 square meters and showcase around 20 core products, suggesting a pilot format designed to test demand. “The Mokdong store features a dedicated space solely for our beauty line,” a Musinsa official said. “After launching ultra-low-priced products last September, transaction volumes grew rapidly, giving us confidence in this segment.” “In cosmetics retail, online and offline channels have to work together,” said Kim Ju Duk, a professor of the beauty industry department at Sungshin Women’s University. “When consumers can test products in person, it has a direct impact on purchase decisions, and that experience often leads to repeat purchases online later.” He added that Musinsa’s move could meaningfully lift sales. “Olive Young’s growth accelerated after it started running online and offline channels in parallel around 2017 and 2018. If Musinsa follows a similar path, this offline push could turn out to be a very effective strategy.” The company is treating the store as a testbed, citing Mokdong’s dense student population and surrounding academies as key factors. If successful, similar beauty-focused outlets could follow. The push comes as foreign demand increasingly shapes the K-beauty market. Retailers in districts such as Myeongdong and Seongsu report rising purchases by overseas visitors, many of whom favor lower-priced skincare and cosmetics for everyday use or gifts. Against that backdrop, analysts see Musinsa’s move as a bet that price competitiveness — not just trend-driven marketing — will define the industry’s next phase. “Foreign customers already account for about 25 percent of transactions for Musinsa Standard Beauty,” a company official said. “As our offline presence expands, exposure to overseas visitors will grow naturally.” The brand’s flagship stores, including its Myeongdong outlet, already draw roughly half of their customers from abroad, according to the company. With competitive pricing and manufacturing partnerships with firms such as Cosmax, Musinsa expects foreign demand to continue rising. Musinsa entered the private-label beauty business in 2021 with affordable functional products, but sharpened its strategy after forming a partnership with Cosmax in September last year. Since then, it has expanded its low-cost lineup and plans further collaborations, including with Dashu and LG Household & Health Care. Under its current roadmap, Musinsa aims to position Musinsa Standard Beauty as a sub-10,000-won value brand, while differentiating its other private labels — Oddtype and Whizzy — in color cosmetics. The company plans to focus on online channels at home and offline expansion overseas for those brands. While sales data from the Mokdong store are yet to emerge, broader market figures point to rising stakes. With Daiso posting triple-digit growth in some years and foreign demand adding momentum, the fight for Korea’s budget beauty consumers is no longer a sideshow. It is becoming one of the industry’s main fronts. 2026-02-04 15:24:12

Hanwha Ocean's 2025 profit nearly quadruples on LNG carrier, naval ship demand SEOUL, February 04 (AJP) - Hanwha Ocean's operating profit nearly quadrupled in 2025 from a year earlier, driven by strong sales of liquefied natural gas (LNG) carriers and special-purpose vessels. In a regulatory filing on Wednesday, the South Korean shipbuilder reported revenue of 12.69 trillion won ($9.5 billion) for 2025, up 18 percent from the previous year, while operating profit surged 366 percent to 1.11 trillion won. The company attributed the earnings improvement to increased deliveries of high-margin LNG carriers and growth in its defense-related ship business. Stabilized production boosted the contribution of LNG carriers within its commercial ship segment, while revenue from special-purpose vessels edged higher as construction progressed smoothly on the first three Jangbogo-III Batch-II submarines. Operating profit also benefited from a product mix shift toward higher-value vessels, improved productivity following production stabilization and continued cost-reduction efforts. Hanwha Ocean said that it has secured orders worth $10.05 billion so far this year, including contracts for 13 LNG carriers, 20 very large crude carriers and 17 container ships. Order intake increased from $8.98 billion a year earlier despite global orders for its core ship types falling to below 70 percent in vessel numbers, the company said. The shipbuilder also gave a positive outlook for the year ahead. A company official said revenue growth is expected to continue as vessel prices, particularly for LNG carriers, remain elevated, while profitability should stay solid as revenue increasingly comes from higher-return projects. Profitability is also expected to improve further as full-scale production begins on additional naval programs, including the second Jangbogo-III Batch-II submarine and the fifth and sixth Ulsan-class Batch-III frigates, alongside efforts to secure large overseas contracts, the official said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-04 14:55:01

Korea Automotive Technology Institute, AP위성 sign MOU on space-mobility technology The Korea Automotive Technology Institute said it is moving to strengthen global competitiveness in the space-mobility industry. The institute said it signed a memorandum of understanding with AP위성 on Tuesday at AP위성’s headquarters in Seoul’s Geumcheon district to cooperate on securing technological competitiveness in space mobility and building an innovation-driven industrial ecosystem. The institute said the agreement comes as major countries, including the United States with its Artemis program and “Moon to Mars architecture,” as well as China, Europe and Japan, accelerate crewed lunar and Mars exploration. It said the partnership aims to secure core next-generation space-mobility technologies and respond to fast-changing global markets. Under the MOU, the two organizations plan to pursue joint research on space-mobility development projects, along with technology development, performance verification and the creation of evaluation systems, and to expand cooperation over time. Planned areas of cooperation include developing a prototype model for lunar exploration mobility and developing artificial intelligence-integrated avionics for space mobility. Jin Jong-wook, the institute’s president, said space mobility is a key industry that will shape future national competitiveness and requires advanced technology and cross-disciplinary capabilities. “Through this cooperation, we will secure homegrown core technologies and promote the creation of an innovative ecosystem, actively contributing to the development of South Korea’s space industry and strengthening its competitiveness,” Jin said.* This article has been translated by AI. 2026-02-04 14:45:00

Trade chief vows to find 'mutually beneficial' tariff solution with US SEOUL, February 4 (AJP) - Officials from South Korea and the United States have been working closely to come up with a "reasonable solution" to tariff-related issues after U.S. President Donald Trump's abrupt threat last week to raise tariffs, Minister of Trade, Industry and Resources Yeo Han-koo said on Wednesday. While wrapping up his weeklong trip to Washington, D.C., Yeo told reporters that he met with numerous U.S. government officials including representatives from the Office of the U.S. Trade Representative, as well as members of Congress and business groups such as the U.S. Chamber of Commerce, to figure out what lies behind Trump's threat. Trump warned last week that he would raise reciprocal tariffs on Seoul from 15 percent back to 25 percent, citing delays in implementing a broader deal between the two allies reached in October last year, which includes Seoul's massive investment pledges to the U.S. Expressing concern over the potential impact of tariff increases on businesses and industries, the minister conveyed Seoul's commitment to implementing the agreement. Yeo further explained that he met with about 20 U.S. lawmakers to address their concerns and clarify any misunderstandings related to the deal, discussing necessary legislative or administrative procedures to facilitate the agreement. "We will continue discussions with the U.S. to find a mutually beneficial solution," he said. Yeo returns home on Thursday. 2026-02-04 14:43:19

South Korea’s MU:DS museum brand to debut in Europe at Milan Korea House South Korea’s national museum merchandise brand MU:DS is set to make its European debut.  The National Museum Foundation of Korea said Tuesday it will present MU:DS at Korea House in Italy from Feb. 5 to 22 during the 2026 Milan-Cortina d’Ampezzo Winter Olympics.    Korea House, operated by the Ministry of Culture, Sports and Tourism and the Korean Sport & Olympic Committee, will be set up at Villa Necchi Campiglio, a historic building in central Milan. The foundation said it plans to introduce visitors to K-culture through MU:DS, which reinterprets Korean cultural heritage with a modern sensibility.    MU:DS will appear under the global slogan, “MU:DS, K-Culture Unboxed - Reimagining Tradition, Redefining K-Culture.” For the event, the foundation selected 96 products across five themes: pensive bodhisattva, celadon, white porcelain, mother-of-pearl lacquerware and K-pop Demon Hunters.  It said items drawing on Korean motifs highlighted by the popularity of Netflix’s animated “K-pop Demon Hunters” — including a gat hat, magpie-and-tiger imagery and the Irwolobongdo screen — will be featured prominently.  The foundation called the appearance MU:DS’ first official entry into the European market. To mark it, 19 popular items will be sold on-site, including a “Pensive Bodhisattva” miniature from the “Mind” series, a magpie-and-tiger badge and key rings.    The foundation said it aims to use Korea House not only for sports diplomacy but also as a distribution platform showcasing Korean lifestyle products.  It said museum merchandise sales totaled 41.3 billion won last year. MU:DS also sold out within a week when it was introduced alongside an overseas traveling exhibition of items donated by the late Lee Kun-hee at the Smithsonian’s National Museum of Asian Art in Washington.    Jeong Yong-seok, president of the National Museum Foundation of Korea, said, “It is meaningful to share the beauty of our cultural heritage at the Winter Olympics, a festival for people around the world.” He added, “This expansion into Europe will be an important turning point in confirming the global competitiveness of K-goods,” and said he hopes MU:DS becomes a national representative brand people worldwide want to own.    Separately, the foundation said it will support Naver’s group cheering event for the Winter Olympics for two days starting Feb. 15 by providing items including a “Denny Taegeukgi” key ring and a miniature bag inspired by a zoomorphic earthenware vessel.    Korea House will operate from 11 a.m. to 8 p.m. Visitors can enter by reserving through the official website or applying on-site.   2026-02-04 14:39:00

Songs and poems told by hands SEOUL, February 04 (AJP) - Poetries were read and choir songs sung, but not aloud at Modu Art Theater in Seodaemun, western Seoul on Feb. 3. At 2 p.m., the 6th Korean Sign Language Day commemorative ceremony, hosted by the Ministry of Culture, Sports and Tourism, began not with applause, but with raised hands, flowing gestures and attentive silence. Each movement carried rhythm. Each pause held meaning. Here, language was not spoken — it was performed. Korean Sign Language Day, observed annually on Feb. 3, is a statutory anniversary designated to promote Korean Sign Language as the unique language of the deaf, with equal status to spoken Korean. Beyond recognition, the day serves as a reminder that communication takes many forms — and that all deserve respect. This year’s ceremony, held at Modu Art Theater in Seoul, was themed: “Today connected by language, tomorrow continued by culture!” The message resonated through every performance. On stage, performers translated emotions into space. Love, longing, humor and hope traveled through fingertips and wrists. Poems were not read, but shaped in the air. Songs were not sung, but drawn with palms and arms. The audience followed each story with their eyes, learning to listen without sound. For many participants, Korean Sign Language is more than a tool — it is a mother tongue, a bridge to identity, and a living archive of shared memory. Organizers emphasized that it is also a cultural asset belonging to society as a whole, not only to the deaf community. Between performances, moments of stillness lingered. A raised hand. A gentle nod. A collective breath. In those pauses, the essence of the day became clear. Language does not always arrive through ears. Sometimes, it reaches the heart through hands. 2026-02-04 14:28:04

BTS Comeback D-45: Seoul scrutinizes crowd safety and price gouging SEOUL, February 04 (AJP) - As visitor numbers are expected to rise ahead of BTS’s comeback in March, the Seoul Metropolitan Government has begun reviewing comprehensive measures, including crowd safety management and a crackdown on price gouging. On Wednesday, Seoul Mayor Oh Se-hoon chaired a meeting at 10 a.m. to review key issues surrounding the BTS comeback event and discuss measures to ensure public safety and welcome global fans. During the meeting, officials reviewed event safety plans to ensure that both residents and international visitors can enjoy the city safely. Measures to minimize potential inconvenience for foreign tourists using accommodation facilities, curb price gouging at traditional markets, and expand entertainment offerings such as performances and exhibitions were also discussed. With large crowds expected at key locations such as Gwanghwamun Square and Seoul Plaza, comprehensive safety management measures will be implemented. These include strengthening reviews of safety plans through expert consultations and dividing the main event areas into smaller zones to prevent crowd-related risks. Event organizers will deploy sufficient safety personnel in line with expected crowd sizes, positioning them at venues and other areas around event sites where large crowds are anticipated. The city will also step up monitoring crowd movements. Using real-time urban data and CCTV systems from the city’s disaster and safety control center, officials will closely track crowd density. On-site conditions will be shared with event organizers and relevant agencies, including police, fire authorities and district offices—to enable immediate responses based on risk levels. On the day of the concert, the city will implement safety measures tailored to each stage of the event. Before and after the performance, crowd flows will be guided to prevent congestion and ensure smooth entry and exit, while additional steps will be taken during the show to avoid overcrowding in specific areas. Firefighters, emergency personnel and vehicles will be deployed, and emergency routes will be secured in preparation for potential incidents. Transportation measures will also be introduced, including the possibility of subway trains passing through nearby stations without stopping and bus route diversions due to road controls. Additional on-site safety steps include securing sufficient restroom facilities, suspending rentals of the city’s bike-sharing service and shared personal mobility devices to ensure pedestrian safety, and cracking down on illegal street vendors and illegal parking. Multilingual safety messages will also be displayed on stage screens and electronic boards at Seoul Plaza. To prevent harm to both foreign visitors and residents, the city will step up efforts to curb unfair business practices. Joint inspections with district offices will focus on compliance with accommodation price display rules and on cracking down on practices such as pressuring guests to cancel reservations. To stabilize accommodation prices, the city plans to work with online travel agencies through industry meetings and cooperate with related organizations, including the Korea Hotel Association and the Seoul Tourism Association. To help disperse demand, accommodation-dense areas outside Jongno and Jung districts will be promoted through the Visit Seoul website. The city will also conduct on-site inspections using undercover inspectors posing as customers to crack down on price gouging and other unfair trade practices. The city officials will also create a festive atmosphere that both domestic and international visitors can enjoy. Streets and public spaces across Seoul will be decorated to welcome global fans, alongside a range of tourism and hands-on experience programs. Around the time of the BTS performance, street performances, random dance festivals and other programs will be held at major locations such as Dongdaemun Design Plaza, Seoul Plaza and Han River parks. It also plans to offer special experiential events for global fans and residents, including unique programs using the Han River bus. Mayor Oh Se-hoon said that holding BTS’s comeback concert at Gwanghwamun Square, in the heart of Seoul, presents a prime opportunity to showcase the city’s appeal as a global cultural capital to the world. He added that the city will take a comprehensive approach—covering crowd safety, price gouging and entertainment offerings—to make Seoul a truly global tourism destination that people from around the world can enjoy. 2026-02-04 14:17:54