HOT STOCK: Korean refiners rally on Russia sanctions, petrochemicals join ride SEOUL, October 24 (AJP) - South Korean refinery shares surged Friday as oil prices spiked following U.S. sanctions on Russia’s top refiners, Rosneft and Lukoil, elevating petrochemical sector long weighed down by overcapacity and an industrial slowdown. SK innovation, the market leader, jumped 7.6 percent to 133,900 won ($93.2), while S-Oil gained 2.5 percent to about 74,900 won. The rally followed a sharp climb in West Texas Intermediate (WTI) and Brent crude prices after Washington’s move against Moscow’s oil giants. With Russia ranking as the world’s No. 3 producer after the U.S. and Saudi Arabia, any restriction on its exports threatens to tighten global supply and push prices higher. Rising crude prices typically widen refining margins, improving profitability for refiners. This time, momentum also extended to petrochemical stocks, as higher feedstock costs tend to raise product prices. LG Chem hit a fresh high of 401,000 won after climbing 3 percent intraday, while smaller ISU Chemical soared by the daily limit for three straight sessions — leaping to 12,400 won from 5,850 won a week earlier. Refiners are broadly expected to report stronger third-quarter earnings. According to Yuanta Securities Korea analyst Hwang Kyu-won, SK innovation is likely to swing back to profit in the third quarter. “Dubai crude prices rose by more than $3 a barrel, which appears to have boosted refinery margins,” Hwang said. Consensus data from FnGuide projects SK innovation’s Q3 operating profit at about 201.8 billion won, driven mainly by its refining business. S-Oil is also expected to return to profit this quarter. Hanwha Investment & Securities analyst Lee Yong-wook forecast operating profit of 274.3 billion won, noting that “refining-segment profit is projected to reach 144 billion won, marking a sharp rebound from a 440 billion won loss in the previous quarter.” Despite rising competition from Chinese refiners, Korea’s oil refining industry remains among the world’s most competitive. In jet fuel alone, the country’s “Big Four” — SK innovation, S-Oil, HD Hyundai Oilbank, and GS Caltex — command roughly 30 percent of global market share, a position they have held for several years. Most analysts agree that Korean refiners tend to benefit whenever concerns mount over tighter oil supply — and Friday’s rally offered a timely reminder. 2025-10-24 16:53:30

D-7: Korean Inc. to indulge APEC guests with latest innovations SEOUL, October 24 (AJP) - A drone gala will light up the night sky and hydrogen-powered limousines will shuttle guests who can try out the world's first tri-fold smartphones. K-Pop Demon Hunters-themed snacks and K-beauty items will be everywhere. All things Korean — now globally adored — will fill the APEC venue in Gyeongju next week as Korean Inc. flaunts its latest innovations and hottest creations. From semiconductor titans to clean-energy pioneers, this year's APEC in Korea will bring together some 1,700 CEOs and executives from 21 economies. While trade talks between the U.S. and China are likely to dominate headlines, businesses are preparing to capitalize on the gathering in one of the world's most digital-savvy, high-tech manufacturing hubs. Hosted by the Korea Chamber of Commerce and Industry (KCCI), the APEC CEO Summit runs from Oct. 28 to 31 under the slogan "Bridge, Business, Beyond." It serves as the region's premier platform for industry diplomacy — where innovation and investment often move faster than politics. Who's coming, what's on the table NVIDIA CEO Jensen Huang, making his first official visit to Korea in 15 years, will deliver a keynote on Oct. 31, sharing his outlook for artificial intelligence and robotics. He is expected to meet Samsung Electronics Chairman Lee Jae-young and SK Group Chairman Chey Tae-won to discuss cooperation on high-bandwidth memory and AI chips. SoftBank's Masayoshi Son is also expected, though not yet confirmed. His attendance could advance talks on large-scale AI infrastructure and investment. Huang and Chey have been collaborating on the StarGate Project — a mega-scale AI alliance linking SK Group, NVIDIA, SoftBank, and OpenAI. If schedules align, Gyeongju could see a rare three-way meeting among Huang, Chey, and Son. Top executives from Google, Microsoft, Amazon, Meta, Citigroup, J.P. Morgan, Johnson & Johnson, and international bodies such as the OECD, World Bank, and Asian Development Bank will also attend. Korean conglomerates step up For South Korea's major groups, APEC doubles as both a business fair and a showcase of soft power. Hanwha Group will stage a massive fireworks-and-drone gala over Bomun Lake on Oct. 31, featuring 50,000 fireworks and 2,000 drones. Hyundai Motor Group will provide 192 official vehicles, including hydrogen-powered buses and Genesis sedans, for visiting leaders. LG Group is running global APEC ad campaigns across Seoul, New York, and London, while LG Uplus handles on-site telecom networks. Lotte Group oversees hotels, catering, and cruise lodging. Samsung Electronics plans to unveil its new tri-fold smartphone, underscoring next-generation display leadership, and SK Group will host the FutureTech Forum AI, where Chey Tae-won will present Korea's AI ecosystem strategy. According to organizers, 66 Korean companies are sponsoring or supporting the summit. Local small and mid-sized firms from North Gyeongsang Province will showcase homegrown foods and beverages at the APEC Economic Exhibition Hall — a once-in-a-lifetime chance to pitch to global buyers on home turf. APEC boost: who stands to gain Sectors tied to semiconductors, batteries, and infrastructure stand to benefit directly from APEC momentum. Discussions on AI and data infrastructure are expected to favor SK hynix and Samsung Electronics, key suppliers to global cloud firms. SK hynix shares have jumped 41.5 percent over the past month — from 357,500 won ($260) to 506,000 won ($367) — while Samsung Electronics gained 15.8 percent, from 85,400 won ($62) to 98,900 won ($72). Hyundai Motor and Kia rose 16 percent and 11 percent respectively in the same period, buoyed by expectations of clean-mobility and hydrogen cooperation. According to KCCI and Deloitte, the APEC events could generate an economic impact of 7.4 trillion won ($5.3 billion) and create about 22,000 new jobs — leaving a long-term mark on both Korea's global business diplomacy and its innovation brand. 2025-10-24 16:49:33

Seoul gears up for Halloween with safety measures SEOUL, October 24 (AJP) - The Seoul Metropolitan Government said Friday that several safety measures have been implemented in about a dozen areas in the capital, ahead of Halloween later this month. Under the measures effective until Nov. 2, district officials, police, and firefighters in coordination with the Ministry of the Interior and Safety will carry out patrols, inspections, and traffic control in Seoul's entertainment district of Itaewon, trendy alleys around Hongik University, and other popular hip streets in Gangnam and Seongsu-dong. Emergency hotlines, temporary shelters, and other facilities will be set up to ensure safety and respond immediately to any urgent situations or accidents. Medical personnel will be stationed throughout the areas, with ambulances on standby. Starting this weekend, hundreds of safety personnel and other officials will be deployed to manage crowds and monitor density levels to prevent accidents. The latest measures come after the 2022 Halloween stampede tragedy, in which 159 people, mostly young, died in a crowd crush. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 16:48:39

South Korea makes baby step in same-sex recognition through census inclusion SEOUL, October 24 (AJP) - South Korea has taken a small but symbolic step toward recognizing diverse family structures by including cohabiting couples for the first time in its national census — a quiet shift in a country still wrestling with traditional views on marriage and gender. The 2025 Population and Housing Census, conducted from Wednesday through mid-November, now includes a new category for "unmarried cohabiting partners," the Ministry of Data and Statistics said. Couples may select this option regardless of gender — meaning same-sex partners can, for the first time since the census began in 1925, identify their household relationship in official records. Conducted every five years on a sample of 20 percent of all households, the census provides core data on Korea’s population, housing, and family composition. "The new category was introduced to reflect the growing number of people living together even though they are not legally married," a ministry official said. "We decided to specify 'unmarried cohabiting partner' as a separate option to better capture the range of cohabiting relationships that exist in society. Social surveys also show that public perceptions of unmarried cohabitation are becoming more positive." The addition has been welcomed by LGBTQ+ and civil rights advocates. Yi Ho-rim, executive director of Marriage for All Korea, which campaigns for the legalization of same-sex marriage, called the move "a landmark moment." "It's the first time the existence of people living with same-sex partners will be visible through official national statistics," Yi said. "This could inform future discussions on legalizing same-sex marriage in Korea." Still, many remain cautious in a society where same-sex relationships face stigma and legal invisibility. "Because respondents must enter personal details such as name and workplace, it's uncertain how many same-sex couples will choose to disclose their status," Yi added. "Nevertheless, it's an important first step toward institutional recognition of diverse family forms." The updated census will offer Korea's first official dataset on the scale and distribution of unmarried cohabiting couples. Similar systems already exist in many European countries — including France, the Netherlands, and Belgium — where registered cohabitation provides tax and welfare benefits comparable to marriage. Most European nations have also legalized same-sex marriage and permit joint adoption. For now, South Korea's baby step marks a statistical acknowledgment — not yet legal recognition — but one that many see as a quiet milestone in a society where even data can drive social change. 2025-10-24 16:46:10

Pohang earthquake victims call for justice and stronger prevention measures SEOUL, October 24 (AJP) - The National Assembly Members’ Office Building in Yeouido, Seoul, was filled with citizens on Thursday morning as a forum titled "Pohang, Asking Again: Accountability and Prevention of Recurrence" took place on October 23. Residents of Pohang, victims’ groups, and experts in law and geology gathered to discuss the long-running damages lawsuit stemming from the 2017 Pohang earthquake, which is now under review by the Supreme Court. Many described the moment as "the real beginning." The event was co-hosted by Democratic Party lawmaker Lim Mi-ae, the city of Pohang, and Aju News Corporation, with support from North Gyeongsang Province and the provincial assembly. Speakers included attorney Gong Bong-hak, who represents the joint lawsuit filed by Pohang earthquake victims, and Kim Kwang-hee, professor of geological and environmental sciences at Pusan National University. They reviewed the legal and scientific aspects of the case, while citizens called for a clear acknowledgment of the earthquake’s cause and the state’s accountability. Kang Chang-ho, head of the Pohang 11.15 Earthquake Citizens’ Countermeasure Committee, said many residents still struggle with trauma and financial hardship eight years after the quake. He criticized what he called the government’s passive administrative response during the lengthy legal process. Lee Kang-bok, a resident of Heungha-eup in Pohang’s Buk-gu district, said, "We still live in a house with cracked walls. Even if it takes time, we need a proper ruling this time." Another resident, Jang Du-dae from Haksan-dong, said, "If the earthquake was caused by human activity, then the government should take responsibility. It’s time for agencies to stop passing the blame to one another." During the panel discussion, experts focused on how to prevent similar incidents. They suggested mandatory geological surveys before starting geothermal or renewable energy projects and proposed a government-led risk assessment system. Professor Kim said drilling in earthquake-prone areas without prior investigation should never happen again and that the state’s oversight must be stronger even during pilot projects. Attorney Gong added that victims were not seeking large compensation but rather acknowledgment and responsibility from the government. Participants said the discussion gave them a rare opportunity to speak directly to lawmakers and officials. Many expressed hope that the issue will move beyond debate and lead to concrete policy action. 2025-10-24 16:16:49

Son Heung-min vies for 'Newcomer of the Year' after stellar MLS debut season SEOUL, October 24 (AJP) - Son Heung-min of Los Angeles FC (LAFC) has been named for Major League Soccer (MLS)'s "Newcomer of the Year." According to the finalists for the American league's year-end awards announced on Friday, Son was named among them. The awards recognize the "top performers during the regular season" across 16 MLS clubs. With the winners set to be announced in early December, other contenders for the award include Danish footballers Anders Dreyer of San Diego FC and Philip Zinckernagel of Chicago Fire FC. After his record-breaking transfer to LAFC from Tottenham Hotspur in the English Premier League, where he had spent more than a decade as one of Spurs' key players, Son recently wrapped up his MLS debut season with 10 appearances, scoring nine goals and three assists. Meanwhile, nominees for the "Most Valuable Player" include Son's teammate Denis Bouanga, Dreyer, Brazilian footballer Evander of FC Cincinnati, Argentine footballer Lionel Messi of Inter Miami CF and English player Sam Surridge of Nashville SC. 2025-10-24 15:55:24

SK hynix, Samsung cash in on supercycle with stocks in record-setting rally SEOUL, October 24 (AJP) - Korea’s memory titans Samsung Electronics and SK hynix are reaping record windfalls from a red-hot chip market driven by the transition to higher-performance memory that underpins the digital and automation era — yet both remain cautious about expanding production for fear of another abrupt downturn. Investors show little concern for now, pushing both stocks to fresh highs. The combined market capitalization of Samsung Electronics and SK hynix topped 1,000 trillion won ($700 billion) for the first time on Friday. Samsung’s market value reached 584.2 trillion won (plus 64 trillion won in preferred shares), while SK hynix climbed to 370.9 trillion won in morning trading. The demand surge is straining supplies not only of high-bandwidth memory (HBM) — essential for AI servers, data centers, and GPUs — but also of mass-market DRAM used in PCs, laptops, and smartphones, as chipmakers redirect wafer capacity toward HBM and other high-margin products. Spot prices for mainstream DDR4 8Gb DRAM jumped to $7.30 this week, up 265 percent from April and the highest since October 2018, according to DRAMeXchange. UBS expects contract prices to rise 10–17 percent in the fourth quarter, while TrendForce projects an 8–13 percent gain in standard DRAM, widening to 13–18 percent when HBM products are included. Unlike past inventory-driven booms, ongoing supply crunch is structural. SK hynix has devoted most of its advanced process capacity to HBM production for Nvidia and other AI chipmakers, while Samsung continues to ramp up 2-nanometer HBM output to improve yields. Because HBM stacks multiple chips vertically, wafer throughput is less than half that of traditional DRAM, tightening legacy supply. While many investors see the sustained HBM shortage as fueling the next memory supercycle, some analysts warn the picture is more nuanced. “HBM supply has actually caught up with demand, and prices are softening,” said Song Myoung-seob, analyst at iM Securities. “What’s tight is conventional DRAM — production has been shifted to HBM, and server makers are rushing to stock up inventory ahead of possible tariff changes.” Song estimates global memory demand will expand 19.5 percent this year, outpacing an estimated 18.2 percent increase in supply. He added that Micron faces setbacks in server-grade DDR5, further constraining availability. Analysts say the DRAM-HBM cycle could extend into the first half of 2026 if AI server build-outs and enterprise upgrades persist. But others caution that rapid fab expansions in Korea, the United States, and Taiwan could spark a correction if demand falters. Either way, Samsung and SK hynix face the delicate task of balancing short-term windfalls with longer-term capacity discipline in a market moving faster than ever. 2025-10-24 15:47:52

South Korean government signals tighter oversight of nuclear exports SEOUL, October 24 (AJP) - South Korea’s trade minister expressed concern on Friday over an escalating dispute between two state-run energy companies, saying the conflict underscored the need for clearer governance in the country’s nuclear export program. The conflict centers on a roughly $1 billion cost adjustment related to the Barakah nuclear power plant in the United Arab Emirates — South Korea’s first nuclear export project, which began operations in 2021. The disagreement has reportedly escalated to arbitration at the London Court of International Arbitration. At a parliamentary audit, Trade, Industry and Energy Minister Kim Jung-gwan said the dispute between Korea Electric Power Corp. (KEPCO) and Korea Hydro & Nuclear Power (KHNP) “should not have occurred,” and that his ministry would review ways to establish a unified framework for future nuclear projects abroad. Lawmakers raised concerns that both companies submitted sensitive documents to foreign law and consulting firms during the proceedings, potentially exposing national assets. “This situation raises serious questions about governance and security in overseas nuclear operations,” said Democratic Party lawmaker Kim Dong-ah. Minister Kim acknowledged the ministry’s responsibility in the matter and said discussions were underway to consider a more centralized export system. He noted that other major nuclear-exporting nations operate under strong government-led frameworks, in contrast to South Korea’s divided structure between KEPCO and KHNP. “We are reviewing institutional improvements to prevent such conflicts from recurring,” Kim said, signaling a potential policy shift toward tighter oversight of nuclear export projects. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 15:25:04

No-fly zones, strict aerial restrictions set for next week's APEC summit in Gyeongju SEOUL, October 24 (AJP) - Flights and other aerial activities will be restricted near the vicinity of next week's Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju, the Ministry of Land, Infrastructure and Transport said on Friday. To ensure safety during the summit scheduled for Oct. 31 to Nov. 1, the no-fly zone will be in effect from next Monday until Nov. 2 at Gimhae International Airport, applying to all aircraft including drones and ultralight vehicles except for some regular passenger flights and those with emergency missions. All aircraft except authorized ones are prohibited from entering a 3.7-kilometer radius around the summit's venue and a 9.3-kilometer radius around the airport, while a broader 18.5-kilometer radius requires prior approval from military authorities. The ministry, in cooperation with police and personnel from the National Intelligence Service and Ministry of Defense, will conduct around-the-clock surveillance to monitor and detect unauthorized flights, drones, and jamming equipment. Violators could face fines of up to 3 million Korean won. A ministry official called for public attention and support to ensure the successful hosting of the multilateral gathering. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 15:10:19

North Korea breaks ground on memorial for troops killed in Russia SEOUL, October 24 (AJP) - North Korea has begun building a war memorial in Pyongyang to honor soldiers who were dispatched to assist Russia's war in Ukraine and died there, state media reported Friday. According to the KCNA, a groundbreaking ceremony for the construction of the memorial took place the previous day with its leader Kim Jong-un in attendance, along with Russian Ambassador to North Korea Aleksandr Matsegora and other embassy officials. In his speech, Kim said, "Pyongyang will always be with Moscow. Our friendship and unity will last forever," hailing the memorial as a "symbol of the most righteous people and the strongest army." "Just one year ago from today the last group of the combatants of our expeditionary forces left for Russia. They, strongly feeling the weight of their heavy mission, made a forceful march towards the battlefield in the alien land," he added. This is the first time North Korea has built a museum commemorating troops deployed overseas, following a decision made in May. North Korea is believed to have sent more than 10,000 soldiers to Russia in exchange for economic aid and military technology from Moscow. At least 2,000 North Korean soldiers have been killed or wounded in Russia's Kursk region near the Ukrainian border, according to estimates by South Korea's spy agency in September. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 14:34:26