Korea-France Space Forum highlights growing partnership in space exploration SEOUL, October 27 (AJP) - Government officials, scientists, and industry leaders from South Korea and France gathered in Seoul on Monday for the fifth Korea-France Space Forum, underscoring the two nations’ expanding collaboration in space exploration and technology. Held at the Four Seasons Hotel, the forum brought together representatives from the Korea Space Agency and France’s National Centre for Space Studies, known as CNES, as well as executives from major aerospace companies and research institutions. The event featured presentations on national space strategies and panel discussions on strategic autonomy, reusable launch vehicles, and the future of commercial space services. Discussions centered on how the two countries can strengthen cooperation in areas such as next-generation orbital systems, satellite operations, and space security. In the session on strategic space autonomy, experts from both sides explored developments in reusable launch vehicle technologies and examined how private companies could contribute to government-led space security efforts. France, a leading member of the European Space Agency, is regarded as a global leader in space transportation and satellite navigation. South Korea, which recently launched its national space agency, is accelerating its push to develop independent launch capabilities and expand international partnerships. “The Korea-France Space Forum offers an important platform for dialogue and collaboration,” said Lionel Suchet, chief operating officer of CNES. “Our two nations have complementary expertise, and this exchange helps us move forward together in the new era of space development.” Yoon Young-bin, head of the Korea Space Agency, said the forum would “help lay the groundwork for joint research, technology exchange, and innovative industrial partnerships.” The forum concluded with the signing of a comprehensive cooperation agreement between the two agencies, setting the stage for deeper collaboration in exploration, satellite technology, and the commercial space sector. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 14:02:58

Kevin Kim appointed acting US envoy to Seoul SEOUL, October 27 (AJP) - Kevin Kim, a senior official in the U.S. State Department, "has been appointed Chargé d'Affaires, ad interim," the U.S. Embassy in Seoul said in press release on Monday. Kim "previously served as senior bureau official for the Bureau of East Asian and Pacific Affairs and deputy assistant secretary for Japan, Korea, and Mongolia," it said, adding that he will work with embassy staff and the South Korean government to enhance "mutual interests and shared values" as well as Washington's "ironclad commitment" to the biliteral alliance. It also shared that the department expressed its "deep gratitude" to outgoing Acting Ambassador Joseph Yoon for his "leadership and dedication in advancing the Unites States' interests." Kim, like his predecessor, is of Korean descent and handled North Korea-related affairs at the department from 2018 to 2020, assisting then-Special Representative for North Korea Stephen Biegun. It seems unusual that another acting ambassador will assume the role, given that the post is meant to be filled temporarily until a formal envoy is appointed, which requires Senate confirmation and takes several months. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 14:01:33

KOSPI breaks 4,000 for first time in 45 yrs, Nikkei also at historic high SEOUL, October 27 (AJP) - Korean and Japanese stock markets celebrated historic milestones Monday, with both the KOSPI and Nikkei breaking past symbolic thresholds for the first time in their histories. The KOSPI jumped 2.3 percent to 4,032.49 around midday, topping the 4,000 mark for the first time in its 45-year history. Bellwethers Samsung Electronics and SK hynix led the charge, each hitting record levels — 100,000 won ($70) and 500,000 won, respectively. Advancers outnumbered decliners 595 to 282, with institutional investors net buying nearly 600 billion won, while retail investors offloaded about 485 billion won to take profits from recent rallies. The surge drew international attention after The Wall Street Journal cited Korea as one of this year’s best-performing markets, with the KOSPI’s 64-percent rise far outpacing other major indices — the MSCI All Country World ex-USA Index gained about 26 percent, the S&P 500 15 percent, Germany’s DAX 22 percent, Japan’s Nikkei 225 24 percent, and the U.K.’s FTSE 100 18 percent. Petrochemical and battery shares extended their red-hot run, with Isu Chemical hitting the daily upper limit with a 30-percent surge, and EcoPro soaring 12 percent by midday. The KOSDAQ also advanced 1.8 percent to 899.05, nearing the 900 mark for only the second time since its first-ever breach 19 months ago. “Foreign investors are returning to the Korean market in full force, drawn by attractive valuations and strong earnings momentum,” said Lee Jae-hyun, analyst at Mirae Asset Securities. In Tokyo, the Nikkei 225 surged 2.1 percent to 50,230.45, marking the first time Japan’s premier stock index has crossed the 50,000 threshold. The rally followed a U.S.-China trade framework deal reached over the weekend in Kuala Lumpur and growing expectations of another U.S. Federal Reserve rate cut at the upcoming policy meeting. Sentiment was further boosted by anticipation of bilateral talks between U.S. President Donald Trump and Chinese President Xi Jinping later this week in Seoul. Elsewhere in Asia, China’s Shanghai Composite gained 0.5 percent to 3,890, Taiwan’s TAIEX rose 0.7 percent, and Hong Kong’s Hang Seng Index climbed 0.9 percent. 2025-10-27 11:55:35

Korean crypto platforms under scrutiny for ties to sanctioned Cambodian exchange SEOUL, October 27 (AJP) - South Korean cryptocurrency exchanges have been drawn into a widening money-laundering network tied to North Korean hackers, with transactions flowing through a Cambodian exchange under U.S. sanctions surging nearly 1,400-fold in a year, government data show. According to figures submitted to lawmakers by the Financial Supervisory Service, the total volume of cryptocurrency traded between South Korea’s five largest exchanges — Upbit, Bithumb, Coinone, Korbit, and GOPAX — and Cambodia’s Huiwon Guarantee reached 12.8 billion won, or about $9.2 million, last year. That marks a dramatic rise from just 9.22 million won in 2023. Huiwon Group, which operates the Cambodian exchange, has been identified by U.S. and British authorities as a transnational criminal organization involved in online scams and money laundering for North Korea’s Lazarus Group, a hacking collective accused of stealing billions of dollars in cryptocurrency. Bithumb accounted for the vast majority of the transactions, with its dealings with Huiwon soaring from 9.22 million won in 2023 to 12.4 billion won last year, and another 2.1 billion won recorded by May this year. Upbit, the nation’s largest exchange, also saw a sharp increase, from zero in 2023 to 360 million won in 2024. Nearly all of the funds — about 99.9 percent — were traded in Tether, or USDT, a stablecoin pegged to the U.S. dollar that has become a preferred vehicle for illicit cross-border transfers due to its liquidity and relative anonymity. South Korean exchanges have come under criticism for failing to act swiftly after the U.S. Treasury imposed sanctions on Huiwon Group earlier this year. Despite the designation, several platforms reportedly continued processing related transactions for months. Bithumb only moved to block transactions on May 2 — one day after the sanctions announcement. “The sharp rise in stablecoin transactions between South Korea and Cambodia demands serious scrutiny,” Rep. Lee Yang-soo of the main opposition People Power Party, said Monday. “Financial authorities must strengthen oversight to prevent domestic platforms from becoming conduits for laundering by foreign crime organizations.” The Financial Supervisory Service has not yet commented publicly on whether it plans to investigate the exchanges involved. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-27 11:14:57

'Sticking points' still remain in trade negotiations with US ahead of Trump visit, Lee says SEOUL, October 27 (AJP) - South Korea remains "stuck on key points" over the details of the country's investment pledge to the U.S., President Lee Jae Myung said in an interview with Bloomberg conducted last Friday and released on Monday. The pledge was part of a broader trade deal last July, in which Seoul agreed to invest US$350 billion in the U.S. in return for lowering reciprocal tariffs from 25 percent to 15 percent, but the two sides have remained deadlocked over how to fund the massive investment, with negotiations stalled since then. "The method of investment, the amount of investment, the timeline and how we will share the losses and divide the dividends - all of these remain sticking points," Lee said. "The U.S. will of course try to maximize its interests, but it mustn't be to the extent that causes catastrophic consequences for South Korea." But he added, "The discussion is ongoing, and there are some differences of opinion, but the delay does not necessarily mean that this is a failure," further elaborating that the two allies "will be able to reach a rational result that is acceptable to all sides and this is what has to be done." Lee's comments come as he is set to hold talks with U.S. President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju later this week, suggesting that the two sides may not be able to resolve their differences in time to finalize the deal. 2025-10-27 11:06:25

South Korean institute to collaborate with University of Missouri on atomic energy SEOUL, October 27 (AJP) - The Korea Atomic Energy Research Institute and the University of Missouri have signed a five-year agreement to deepen cooperation in nuclear research and development, South Korea’s Ministry of Science and ICT said Monday. The agreement, signed at the institute’s headquarters in Daejeon, establishes a framework for joint research, personnel exchanges, and shared use of facilities. The two institutions will collaborate in six key areas: reactor technology, measurement systems, radioisotopes, neutron beams, materials science, and advanced computing. The partnership will include joint training programs and international research planning, with both sides expected to expand cooperation through shared reactor design and operational expertise. “South Korea, once a recipient of U.S. nuclear technology aid, now stands as an equal partner in next-generation research development,” Ku Hyuk-chae, South Korea’s first vice minister of science and ICT. Joo Han-kyu, president of the Korea Atomic Energy Research Institute, said, "The collaboration will establish a sustainable model for technological cooperation following our research reactor exports.” Mun Y. Choi, president of the University of Missouri, described the agreement as “a model for Korea–U.S. nuclear research collaboration,” expressing optimism about the long-term impact on scientific exchange between the two countries. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 10:36:32

Defense chiefs of South Korea, US to hold annual security talks in Seoul next week SEOUL, October 27 (AJP) - South Korean and U.S. defense chiefs will meet in Seoul next week. According to the Ministry of National Defense, Defense Minister Ahn Kyu-back will hold talks with U.S. Secretary of War Pete Hegseth for their annual Security Consultative Meeting (SCM) in Seoul on Nov. 4. The working-level talks between the two, which will cover key military policies and security issues, mark the first such meeting since the new administrations of both countries took office earlier this year. "A wide range of topics will be discussed to strengthen the bilateral alliance in a future-oriented and mutually beneficial manner, in response to changing security environments and threats," the ministry said. These include coordination on policies toward North Korea, a combined defense posture, extended deterrence, regional security cooperation, and collaboration in the defense industry. In a press release earlier, the U.S. Department of War said Hegseth will "applaud Seoul's willingness to step up on defense spending and assume greater responsibility for the alliance's deterrence and defense," suggesting that the modernization of the bilateral alliance will be discussed including possible changes to the role of U.S. Forces Korea (USFK) and adjustments to South Korea's defense spending. Discussions on the transfer of wartime operational control (OPCON) to Seoul are also expected to be on the agenda. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 10:09:44

Hyundai Motor expands ties with Japan's Toray to develop future mobility technologies SEOUL, October 27 (AJP) - Hyundai Motor Group said Monday it has signed an agreement with Japan’s Toray Group to collaborate on the development of advanced materials for next-generation mobility, from high-performance vehicles to lunar rovers and humanoid robots. The agreement was formalized at Hyundai’s headquarters in Seoul, with Kim Heung-soo, Hyundai’s head of global strategy, and Terada Miki, Toray’s senior executive vice president, in attendance. The partnership expands on the two companies’ existing collaboration, launched in April, to develop high-performance composite materials such as carbon fiber reinforced plastics — key to improving vehicle performance, safety, and efficiency. Under the new deal, Hyundai will oversee design and performance evaluation through its research and development center, while Toray will lead the development of next-generation carbon fiber composites. Together, the companies aim to accelerate innovation and open new market opportunities in future mobility technologies. “This agreement marks a significant milestone in our partnership, combining our strengths to innovate from research to commercialization,” Kim said in a statement. Toray’s Terada added that the company intends to enhance global competitiveness by creating innovative composite solutions with Hyundai. Hyundai officials said the collaboration underscores Hyundai’s broader push to expand beyond traditional carmaking and position itself as a leader in advanced mobility technologies — a strategy that now reaches from electric vehicles to aerospace and robotics. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 09:57:32

Lee begins ASEAN summit with talks with Cambodian PM SEOUL, October 27 (AJP) - President Lee Jae Myung, in Malaysia, begins his itinerary there by meeting Cambodian Prime Minister Hun Manet on the sidelines of the biannual Association of Southeast Asian Nations (ASEAN) summit on Monday. The two leaders are expected to discuss cooperation to combat online scams, phishing schemes, and other crimes following the recent revelation of a series of incidents in Phnom Penh that targeted South Koreans. Later in the day, Lee is set to discuss ways to strengthen the strategic partnership among ASEAN member countries. He also plans to propose hosting a special summit in 2029 to mark the 40th anniversary of South Korea-ASEAN relations. Lee may also run into newly elected Japanese Prime Minister Sanae Takaichi as well as Chinese Premier Li Qiang for the first time. With U.S. President Donald Trump also in attendance, a possible encounter could take place there ahead of the scheduled summit with him in Busan later this week, as he visits South Korea for the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju. Lee will wrap up his trip to Kuala Lumpur after holding talks with Malaysian Prime Minister Anwar Ibrahim before returning to South Korea. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 09:16:22

OPINION: Restructuring alone won't save Korea's petrochemical industry SEOUL, October 27 (AJP) - South Korea’s financial sector has joined the Ministry of Trade, Industry and Energy in urging the petrochemical industry to embark on a voluntary restructuring. The call is ambitious: companies are being asked to reduce naphtha cracking capacity by as much as 3.7 million tons — roughly 25 percent — and pivot toward higher-value specialty products. Creditors have gone so far as to warn that continued support could be withdrawn if companies fail to act. Yet voluntary restructuring has never come easily in a system long accustomed to government direction. For decades, industries in South Korea have looked to the state for guidance and protection. Now, they are being asked to take the lead — to assess their own competitiveness, absorb costs, and reconcile clashing interests. That shift will not happen overnight. The petrochemical sector, built on massive facilities designed for long-term operation, faces especially high hurdles. Transitioning to specialty chemicals may sound like a strategic fix, but it is neither simple nor guaranteed to succeed. Market competition is fierce, and pressure without partnership risks driving companies into deeper uncertainty. The government, too, bears responsibility for the current predicament. Since the 1990s, policymakers and experts have called for a shift toward precision and specialty chemicals. But those voices were often drowned out by political priorities — from green growth to carbon neutrality — that brought policy inconsistency rather than sustained industrial direction. The result is a sector caught between regulatory burden and global competition. Despite being the country’s fourth-largest export industry — contributing $48 billion last year, behind semiconductors, automobiles, and machinery — petrochemicals are often cast as environmental villains. Laws such as the Chemical Control Act, though well-intentioned, are viewed by many in the industry as obstacles to competitiveness. Meanwhile, soaring electricity costs have compounded the pressure: industrial power rates have climbed about 70 percent over the past three years, making them 15 percent higher than residential rates and significantly above U.S. levels. That economic imbalance has already pushed some producers to consider securing their own power sources. It also highlights a deeper problem — South Korea’s uneven approach to industrial energy pricing and sustainability. Turning to cheaper Chinese petrochemical imports may appear tempting, but history offers a warning. The 2011 urea shortage, which exposed the country’s overreliance on Chinese supplies, remains a painful reminder of how quickly dependence can become vulnerability. The path forward demands more than government directives or creditor ultimatums. What South Korea’s petrochemical sector needs is a coherent strategy — one that balances competitiveness, environmental responsibility, and energy reform. Without that, calls for “voluntary restructuring” will remain little more than rhetoric. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 08:49:44