Seoul nears nuke submarine ambition upon Trump blessing SEOUL, October 30 (AJP) - Whether by catering to personal ego or through a calculated diplomatic playbook, Seoul secured what had long seemed unattainable: U.S. backing for a nuclear-powered submarine, delivered during U.S. President Donald Trump's brief visit ahead of the Asia-Pacific Economic Cooperation (APEC) summit. Before departing Korea, Trump posted Thursday that Seoul would build its "Nuclear Powered Submarine in the Philadelphia Shipyards," signaling his approval of South Korea joining the exclusive club of nations operating nuclear-propelled submarines. During their summit prior to the announcement, President Lee Jae Myung formally requested U.S. support for securing nuclear fuel for submarine propulsion — the first time a South Korean leader has raised the matter directly with a U.S. president. Lee argued that diesel-electric submarines lack the underwater endurance needed to track North Korean and Chinese submarines, while nuclear propulsion would enhance regional surveillance and reduce the burden on U.S. naval assets. "Nuclear-powered submarines offer far greater endurance, speed and survivability, giving South Korea meaningful deterrent capability," said Shin Seung-ki, research fellow at the Korea Institute for Defense Analyses (KIDA). "For Seoul and Washington, the interests converge — South Korea deters the North, and the U.S. balances China." Nuclear-powered submarines rely on compact reactors rather than diesel engines, enabling months-long underwater operation and a larger weapons payload. Such vessels fall into two broad categories: SSBNs, capable of carrying nuclear weapons, and SSNs, which are conventionally armed. Seoul’s goal is an SSN, requiring nuclear fuel solely for propulsion. But the project touches one of the most sensitive elements of the alliance: whether nuclear fuel supplied to South Korea can be used for military purposes. Under the U.S.–ROK Atomic Energy Agreement, Seoul must obtain Washington's explicit consent to receive nuclear fuel or related reactor technology. Any amendment would require congressional review and lengthy negotiations — hurdles Trump's approval alone cannot erase. South Korea already operates advanced submarine platforms and is developing small modular reactor (SMR) technology that could eventually support naval propulsion. Still, experts emphasize that integrating such systems into an operational SSN requires time, funding and strict safeguards. "Given Korea's shipbuilding strength and reactor expertise, the project is technically feasible within seven to nine years," Shin said. "Once the National Assembly approves funding, forming the project team, designing, building and testing the vessel would follow that timeline." For Trump, the announcement dovetails with his push to revive U.S. shipbuilding and reinforce industrial partnerships that generate American jobs. For Seoul, it opens a rare diplomatic window to advance an agenda long stalled by proliferation concerns. The move also aligns with Trump's tariff strategy. Seoul's $350 billion investment package — including $200 billion in cash and $150 billion in shipbuilding cooperation under the MASGA (Make American Shipbuilding Great Again) initiative — directly involves the U.S. industry that will now host South Korea’s first nuclear-powered submarine program. The political calculus proved mutually beneficial: Lee projected decisive national-security leadership, while Trump showcased a strategic and industrial win rooted in allied cooperation. 2025-10-30 17:35:08

Court rules NewJeans must remain under ADOR, rejects bid for independence SEOUL, October 30 (AJP) - The future of K-pop girl group NewJeans — who shot to global stardom upon their 2022 debut — has been thrown into uncertainty after a Seoul court ruled in favor of their agency HYBE on Thursday. The court determined that all five members remain exclusively bound to ADOR, a HYBE sublabel, until 2029, regardless of their claims of contract breaches and unfair treatment. The decision extinguishes hopes for an early stage comeback for NewJeans, who severed ties with ADOR after the ouster of founder and former ADOR CEO Min Hee-jin last year over her alleged attempt to seize control of the label from HYBE. Min and NewJeans have since been engaged in separate legal battles against ADOR. The conflict spiraled into an ugly public feud beginning in April 2024, when Min accused HYBE and its chairman Bang Si-hyuk of copying NewJeans' concept for the debut of another girl group. HYBE and Bang are global names associated with BTS. Shares of HYBE jumped 5 percent to close at 324,500 won upon the removal of legal uncertainty. Following Min's resignation in August 2024, the NewJeans members notified ADOR of their unilateral termination of the contract. None of the teenage members attended the ruling on Thursday. In its decision, the court stated that ADOR's dismissal of Min "cannot be seen as a violation of the contract," adding that her media campaign "was not aimed at protecting NewJeans but at removing the group from ADOR." After mediation efforts collapsed, NewJeans resumed brief activities under the name NJZ, but their comeback was halted after a concert in Hong Kong in March when ADOR filed an injunction blocking the group from engaging in commercial promotions. NewJeans submitted multiple objections and appeals, all of which were dismissed — effectively preventing the members from performing or promoting without ADOR's approval since March. "The dismissal of former CEO Min Hee-jin alone does not prove ADOR lacked the capability or plans to manage NewJeans," the court said. "The contract does not stipulate that Min must personally oversee the group, and although she could have remained as an outside director or producer, she voluntarily resigned." HYBE has maintained that NewJeans can continue activities under ADOR without Min's involvement, claiming it has preparations in place for a full-length album comeback. Following the ruling, NewJeans' legal representative, Shin & Kim, said the team would immediately appeal. "We respect the court's decision," the firm said, "but the trust between NewJeans and ADOR has already been irreparably damaged. Under the current circumstances, it would be difficult for the members to return to ADOR and resume normal activities." The verdict is also a setback for Min, who recently established her new agency, OOAK (One of A Kind). NewJeans became an instant phenomenon upon their debut for reshaping K-pop's sound and visual identity and earned the label of “the idol for idols.” 2025-10-30 17:20:14

Asian stocks end flat Thursday as U.S.–China talks yield little beyond gestures SEOUL, October 30 (AJP) - Asian stock markets ended mostly flat on Thursday, as the highly anticipated summit between the United States and China produced little beyond diplomatic optics, offering no meaningful signals on trade or geopolitical issues. In Seoul, the benchmark KOSPI slipped 0.2 percent to 4,087, after a volatile session in which the index tested the 4,100 level and touched a fresh intraday high of 4,146.72. Among large caps, Hyundai Motor, Hanwha Ocean, Samsung Electronics, and SK hynix climbed 3.6 percent, 1.8 percent, 2.7 percent, and 6.9 percent, respectively. Their gains were attributed to renewed semiconductor momentum and relief after Seoul and Washington concluded negotiations on their tariff and investment deal. Japan’s Nikkei 225 edged up 0.04 percent to 51,325.61, with investors largely maintaining a wait-and-see stance ahead of the Bank of Japan’s next policy direction. China’s Shanghai Composite Index fell 0.7 percent to 3,986.90, as investors locked in recent profits and stayed cautious ahead of the U.S.–China meeting, which offered little clarity on economic or trade cooperation. Taiwan’s TAIEX slipped 0.03 percent to 28,287.53. The market stayed directionless as weakness in U.S. tech stocks, combined with mixed performance from major electronics names including TSMC, capped further gains. Investors also remained cautious, watching for any signs of easing tensions between Washington and Beijing. 2025-10-30 17:19:50

Korean tech giants vie to win attention with latest innovations at APEC GYEONGJU, October 30 (AJP) - A trifold handset stole the limelight as South Korean tech heavyweights vied to impress global visitors with next-generation technologies showcased across the Asia-Pacific Economic Cooperation (APEC) summit venue in Gyeongju. All the familiar Korean corporate names — Samsung Group, SK Group, Hyundai Motor Group and LG Electronics — mounted large-scale exhibitions at the Expo Park on Thursday, effectively offering a preview of what they may unveil at next year’s CES. Samsung Electronics drew the biggest crowds. Visitors passing through the company’s hypnotic digital columns were led into a hall of new foldables — the Galaxy Z Fold7 and Z Flip7 — and teased with a prototype "Tri-fold Phone." Resembling the latest Fold7 when shut, the unnamed model measures roughly 1.2 to 1.5 centimeters in thickness and expands to around 10 inches when fully unfolded. A company official said the device was "fully operational and market-ready," but declined to specify its launch schedule or price. Samsung's "Art Cube" installation also showcased curated works displayed on premium micro-LED panels, created in collaboration with artists Lee Kun-yong, Aerosyn-Lex Mestrovic, Saya Woolfalk, and Marc Dennis, delivering a fully immersive digital experience. SK Group emphasized the hardware backbone of the AI era. Its pavilion featured next-generation liquid cooling systems for energy storage, capable of partial cooldown, alongside glass substrates for advanced chip packaging expected to boost data-processing speeds by up to 40 percent. Although drained of fluid for safety, drawer-like casings demonstrated how batteries and data servers would be submerged in non-conductive coolants beneath tempered glass layers. A magnified digital model of SK's HBM4 series stood beside the fingernail-sized actual chips. SK Telecom manager Kim Dong-young explained how 12 vertically stacked layers enable the chipset’s exceptional AI performance. Robotics dominated Hyundai Motor Group's exhibition. Compact robotic platforms for logistics and parking-assistance robots capable of maneuvering vehicles in tight spaces showed the group’s expanded ambitions beyond automobiles. An official said a nano-mobility device resembling a wheelchair had already been deployed this year to support patients with physical disabilities or in hospital settings. Hyundai also demonstrated through scaled models how magnetic couplings could enable modular rear units for its purpose-built vehicles (PBVs). Owners could switch between a passenger cabin, pickup-style cargo box or mobile workstation by attaching magnetized modules. The group further laid out its hydrogen roadmap — from production and distribution to mobility solutions spanning land, air and maritime applications. In a nearby pavilion, Hyundai displayed the latest Nexo hydrogen SUV, rolled out in June. LG Electronics constructed a towering chandelier made from 28 transparent "Signature OLED T" units. Arranged in a circular formation, the wireless OLED screens allowed 360-degree viewing. Periodically, panels unfolded to reveal the razor-thin displays, highlighting how high-resolution TVs can now be built into near-invisible structures. Global tech giant Meta also joined the Korean-led showcase, presenting its second-generation AI glasses developed with Ray-Ban. Slightly bulkier than standard eyewear, the frames supported full voice-controlled AI assistance. Commands beginning with "Hey Meta" — such as "Turn on Taylor Swift's Red" — triggered responses through open-ear speakers embedded in both temples. A high-resolution front-facing camera was positioned on the right side, paired with a light-emitting privacy indicator on the left to signal recording. Korean-language support, however, was still under development, a Meta staffer said, noting the need for updates such as Celsius-based temperature readings and integration with apps like KakaoTalk before domestic release. One section of the venue, the K-Business Square, displayed a compressed timeline of South Korea's industrial ascent — from war-torn recovery to manufacturing powerhouse — ending with today’s advanced automation where robotic arms now replace factory-line labor. Gyeongju-themed digital works dotted the venue. A tapering three-tier media pillar paid homage to Seokgatap, the city's iconic Buddhist pagoda, while a hexagonal kaleidoscope tunnel projected shifting Silla-era motifs, including the kingdom's signature smiling roof tiles. Tech startups also added their flair. One popular booth featured an AI sketching robot capable of holding a natural conversation while drawing a caricature in real time with its pen-gripping mechanical hand. 2025-10-30 17:05:51

Leverage builds as South Korean investors chase stock gains SEOUL, October 30 (AJP) — South Koreans are taking on more debt to invest in stocks, as a wave of market optimism drives both leveraged trading and record cash holdings at brokerages. Margin loans — money borrowed from securities firms to buy shares — climbed above 25 trillion won ($18.1 billion) for the first time, reaching 25.1 trillion won as of Thursday, according to data from the Korea Financial Investment Association. That represents an 8 percent increase from 23.3 trillion won on Oct. 2, underscoring the growing appetite for risk among retail investors betting on further market gains. Investor deposits, which track the total balance of cash held in brokerage accounts, also hit a record 85.9 trillion won ($62.3 billion), up more than 5 trillion won in just over two weeks. The indicator, often seen as a barometer of investor confidence and buying power, has been climbing steadily this year. The surge in both deposits and margin borrowing comes as South Korea’s KOSPI index has rallied in recent weeks on expectations of interest rate cuts and stronger corporate earnings. Analysts warn, however, that the increased use of leverage could amplify volatility if market sentiment shifts, a lesson the country’s retail-heavy market has learned in past boom-and-bust cycles. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-30 16:55:46

Xi enters as Trump exits the APEC stage SEOUL, October 30 (AJP) - What should have been a venue for championing free trade and regional cooperation on shared challenges — from AI governance to climate change — instead turned into a geopolitical showcase between the world's two superpowers. Gyeongju, the ancient Silla capital hosting South Korea's first APEC summit in 20 years, became the stage for a U.S.–China hegemony face-off as President Xi Jinping arrived just as U.S. President Donald Trump wrapped up his appearances. Xi landed in Busan on Thursday for a three-day state visit, his first trip to South Korea in 11 years. Bilateral ties have never fully recovered from the fallout of Seoul's deployment of the U.S. THAAD missile-defense system in 2016. Meanwhile, Pyongyang–Beijing relations are at their strongest in decades — underscored by Xi escorting North Korean leader Kim Jong-un and Russian President Vladimir Putin during last month's "Victory Day" celebrations. Rather than heading straight to Gyeongju, Xi first held a closed-door meeting with Trump at a Busan air base amid widening trade friction spanning 100% tariffs, port fees, critical minerals, and soybeans. The 90-minute encounter, one of the most anticipated moments of this year's APEC week, produced little more than cordial optics — handshakes, pleasantries, and a mutual pledge to keep talking. "Zero to ten, with ten being the best — I'd say the meeting was twelve," Trump told reporters aboard Air Force One following what was likely his last engagement with Xi during the summit. "A lot of decisions were made... and we've concluded very many important points," he said without elaborating. Neither Washington nor Beijing provided details. With Trump's departure, APEC leaders moved quickly back to their formal agenda. Xi, for his part, is holding separate summits with his new counterparts in East Asia — Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae-myung. Xi meets Takaichi on Friday in their first summit since she took office earlier this month. Their chemistry remains uncertain, given the new prime minister's staunch nationalistic stance. Xi notably did not send a congratulatory message upon her inauguration, though Chinese Foreign Minister Wang Yi recently said Beijing "notes the positive signals" from the new cabinet, hinting at openness to dialogue. Discussions are expected to cover a partial resumption of Japanese seafood imports — suspended after the release of treated water from the Fukushima nuclear plant — as well as cooperation on rare earths and semiconductor equipment. Analysts say both sides have an incentive to restore practical ties given their intertwined industrial ecosystems. Xi is also meeting President Lee Jae-myung for the first time since Lee's snap-election victory in June. Lee, from the progressive Democratic Party, is traditionally seen as more open to Beijing. Talks are expected to address lifting China's ban on Korean cultural content, advancing Phase 2 negotiations of the Korea–China Free Trade Agreement, and expanding cooperation in semiconductors, AI, tourism, and service-sector investment. Phase 2 of the FTA would expand the current goods-focused agreement to cover services, digital trade, and high-tech industries. Seoul and Beijing are also likely to discuss extending visa waivers and enhancing joint responses to cybercrime and online fraud. Sensitive security topics — North Korea's nuclear and missile programs, illegal Chinese maritime structures in the West Sea, and tensions in the Taiwan Strait — are expected to be handled cautiously. Beijing may also raise concerns over deepening Seoul–Washington defense cooperation, particularly after Trump approved South Korea's plan to build nuclear-powered submarines. The outcomes of Xi's Gyeongju meetings are expected to help define Northeast Asia's diplomatic tone at a time when Seoul is navigating a delicate balance between Washington's strategic expectations and Beijing's growing regional ambitions. 2025-10-30 16:42:50

Lee stresses China's 'constructive role' for North Korea's denuclearization SEOUL, October 30 (AJP) - President Lee Jae-myung has stressed China's "constructive role" in maintaining peace and security on the Korean Peninsula, Beijing's Xinhua News Agency reported on Thursday. Lee said South Korea "urgently needs China's constructive role in order to achieve a substantive solution" for nuclear issues on the Korean Peninsula, in a written interview with the state-run news agency coinciding with Chinese President Xi Jinping's first visit to South Korea in about 11 years to attend the Asia-Pacific Economic Cooperation (APEC) summit in the country's historic city of Gyeongju this week. Lee also said that he "will work with China to strengthen strategic communication based on the consensus that peace and stability are in the common interests of both countries, and achieve denuclearization and peace on the peninsula." "South Korea remains committed to cooperation among APEC member economies and promoting the implementation of various collaborative projects. This aims to achieve shared prosperity and development, transforming APEC into an effective and substantive platform for cooperation," he added. Xi, who wrapped up his meeting with U.S. President Donald Trump in Busan earlier in the day, during which the two resolved most disputed issues including cutting U.S. tariffs on Chinese goods and lifting restrictions on exports of Chinese rare earths, is scheduled to sit down for talks with Lee on Saturday. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-30 16:32:48

Shinsegae Duty Free follows Shilla in retreat from Incheon airport as losses mount SEOUL, October 30 (AJP) - Another of South Korea’s leading duty-free operators is retreating from Incheon International Airport, as mounting rental costs and sluggish traveler spending continue to erode profits in what was once one of the world’s most lucrative retail hubs. Following Shilla Duty Free’s withdrawal last month, Shinsegae Duty Free said Thursday it will return part of its concession rights at the Incheon airport, citing heavy financial losses and an increasingly unpredictable business environment. According to a filing with the Financial Supervisory Service, the company’s board approved a plan to end operations in the DF2 zone, which includes shops selling cosmetics, perfumes, liquor and tobacco. Operations there are set to cease on April 28 of next year, after a mandatory six-month transition period stipulated in its contract with the airport. “The duty-free market faces continued uncertainty — including high exchange rates, a slowing economy, and changes in traveler spending,” Shinsegae Duty Free said in a statement. “Losses have reached a level that makes ongoing operation unsustainable.” The move underscores deep structural challenges facing South Korea’s duty-free industry, which has struggled to recover from the pandemic-era collapse in international tourism and the more recent decline in Chinese traveler spending — once the backbone of airport retail sales. Shinsegae Duty Free secured its Incheon lease in 2023 under a formula based on average customer spending, but falling sales and a weaker won inflated rent payments, pushing operations into the red. The company follows Shilla Duty Free, which last month gave up its DF1 concession, also citing unsustainable losses. Shilla reportedly incurred a penalty of around 190 billion won ($137 million) for the early termination. Shinsegae said it will now focus on improving profitability at its flagship Myeongdong store and continue operating in the DF4 zone, which sells fashion and accessories, at the airport. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-30 15:54:45

Hyundai Motor's Q3 profit dips 29% on U.S. tariff shock; shares hold firm on trade deal SEOUL, October 30 (AJP) - Hyundai Motor reported a sharp retreat in third-quarter operating profit Thursday as the spike in U.S. auto tariffs wiped more than $1 billion from the automaker’s bottom line, but reiterated that its EV and expansion strategy in the U.S. remains intact regardless of setbacks. South Korea’s largest automaker — and the world’s No. 3 as of March — said operating profit fell 29.6 percent on quarter and 29.2 percent on year to 2.54 trillion won ($1.78 billion). Revenue climbed to 46.72 trillion won, the highest for any third quarter, down 3.2 percent from the previous quarter but up 8.8 percent from a year earlier. The operating margin slumped to a three-year low of 5.4 percent. The company attributed the earnings shock to Washington’s hike of U.S. auto tariffs to 25 percent, a rate that remained in place for Korean exports even as the U.S. lowered duties on Japanese and European cars to 15 percent under separate bilateral agreements. Investors, however, looked past the weak results after Seoul and Washington reached an overnight deal to cut Korean auto tariffs to 15 percent as part of a broader $350 billion investment package from Korean companies. Hyundai Motor shares traded 2.8 percent higher at 265,250 won as of 2:45 p.m. in Seoul. Global shipments stayed resilient, with Hyundai cars selling 1,038,353 units in July-September period, up 2.6 percent from a year earlier but down 28,000 units from the previous quarter. SUVs accounted for the largest share with 659,000 units sold, followed by 327,000 passenger cars and 52,000 commercial vehicles. Eco-friendly models remained a key growth driver. Hyundai sold 252,000 eco-friendly vehicles, including 76,000 electric vehicles (EVs) and 161,000 hybrid electric vehicles (HEVs). While EV demand softened globally, sales in North America surged 90.3 percent as the company moved aggressively to clear remaining inventory after U.S. President Donald Trump scrapped federal EV subsidies. Fuel-cell electric vehicle (FCEV) sales also rose sharply to 4,000 units, driven by the launch of The All-New NEXO, up from 1,000 units in the second quarter. Hyundai also broke ground on Korea’s first hydrogen fuel-cell plant in Ulsan the same day, signaling its intention to accelerate growth in the FCEV segment. Despite the tariff relief, the company predicted sales setback in the U.S. in the fourth quarter due to the end of federal subsidy. To bridge the EV gap, Hyundai is rolling out hybrid version of Palisade SUV in North America. “The Palisade has always been one of our most profitable models,” Hyundai said. “With the tariff agreement lowering reciprocal rates to 15 percent, we expect even higher operating margins.” EV demand remains robust in Europe, supported by strict environmental regulations, generous subsidies, and the region’s planned 2035 ban on internal combustion engines, will likely offset the losses. The auto giant affirmed it will maintain on track in long-term EV pivot strategy, the company said in a conference call. The EV roadmap with battery partners LG Energy Solution and SK on including joint-venture plants also remains intact. 2025-10-30 15:29:49

PHOTOS: What to know about ancient gold crown among lavish gifts to Trump in Gyeongju SEOUL, October 30 (AJP) - A glittery gold-plated replica of an ancient crown was among the lavish gifts showered to U.S. President Donald Trump during his visit to South Korea for the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju this week. The eye-catching replica, symbolizing the summit's venue, once the capital of the ancient kingdom of Silla that flourished for over 1,000 years, was specially crafted by veteran artisan Kim Jin-bae in the historic city, North Gyeongsang Province. The original crown, along with many artifacts and relics, was unearthed long ago from Cheonmachong, a tomb in the province believed to be the burial site of kings, queens and other high-ranking nobles. The crown, weighing roughly 1.3 kilograms and standing 32.5 cm tall, features three leaf-shaped vertical ornaments and two deer antler-shaped decorations on its headband. For those who want to learn about the royal crown along with its symbolic power and prestige, a special exhibition on the occasion of the summit is being held until Dec. 14 at the Gyeongju National Museum. Located in Daereungwon, a complex of Silla-era tombs in the province, Cheonmachong measures 47 meters in diameter and 12.7 meters in height, though its occupant remains unknown. Around 11,297 artifacts were unearthed from the tomb in 1973 including Cheonmado, a painting on birch bark depicting a pure-white heavenly horse ascending into the sky, which has been designated as a national treasure. Visitors to the tomb are allowed to look around its restored interior. 2025-10-30 15:25:21