Asian shares lower early Thursday, Korea flat on rate freeze SEOUL, October 23 (AJP) - Asian markets opened lower Thursday as investors locked in profits following Wall Street’s overnight decline, though a few selective gainers held their ground. In Seoul, the main indices hovered near flat after the Bank of Korea kept its policy rate unchanged for a sixth consecutive month, underscoring the complex uncertainties weighing on the economy. The KOSPI inched up 0.1 percent to 3,888.2, while the KOSDAQ was little changed at 879.24. SK hynix returned to positive territory, retrying record levels, while Samsung Electronics slipped 1.8 percent to 96,900 won despite overnight confirmation by Elon Musk about Samsung Electronics joining TSMC in the production of its AI5 chips powering its next-generation Tesla fleet. Hanmi Semiconductor, a key high-bandwidth-memory (HBM) equipment maker, eased 0.7 percent to 150,700 won as analysts cited profit-taking after the U.S. market slump. Battery makers also weakened. LG Energy Solution dipped 0.4 percent to 450,200 won after Tesla’s weaker-than-expected results, and EcoPro Materials lost 3 percent to 67,000 won. Parent EcoPro, which had surged more than 15 percent Wednesday, gave back 2.5 percent to 85,200 won on the KOSDAQ. By contrast, LG Chem extended its momentum, adding 0.7 percent to 394,000 won after Wednesday’s 13-percent jump triggered by Palliser Capital’s activist campaign urging value-enhancing reforms. ISU Chemical soared over 20 percent to 9,200 won, following a limit-up rally the previous session. Company officials said they could not identify any specific catalyst for the move. In Tokyo, the Nikkei 225 dropped 1.5 percent to around 48,560, dragged by SoftBank Group, down another 3 percent to 22,900 yen ($150.5). Defense contractors outperformed, with Sumitomo Heavy Industries up 7 percent to 3,930 yen and Kawasaki Heavy Industries gaining 2.7 percent to 10,800 yen on optimism over Prime Minister Sanae Takaichi’s pledge for stronger defense spending. The Shanghai Composite Index opened around the 3,880, down roughly 0.7 percent. Shares related to natural resources and trade advanced across the board, while property and technology stocks declined broadly. Taiwan’s TAIEX fell 0.8 percent to 27,410, erasing the prior day’s mild gains. 2025-10-23 11:31:18

HOT STOCK: Hanwha Ocean surges on LNG boom, defense tech spotlight SEOUL, October 23 (AJP) - Shares of Hanwha Ocean are sailing full speed ahead, buoyed by a swelling orderbook for liquefied natural gas (LNG) carriers and upbeat earnings expectations. The stock traded 3.7 percent higher at 137,100 won ($95) as of 10:15 a.m. Thursday in Seoul, after soaring nearly 10 percent the previous day. Hanwha Ocean has gained more than 20 percent so far this month, reflecting investor optimism over robust third-quarter results and sustained global demand for LNG carriers. The rally accelerated following the company’s strong showing at Seoul ADEX 2025, where it unveiled AI-driven naval technologies, and amid reports that South Korea’s trade envoy urged China to lift sanctions affecting Hanwha Ocean’s U.S. affiliates. Investor sentiment was further boosted by the government-backed K-Shipbuilding Tech Alliance and expectations of strong quarterly earnings fueled by a steady stream of LNG and special-purpose vessel orders. The convergence of defense export hopes, policy support, and easing geopolitical pressure has propelled Hanwha Ocean to its highest level in over a year, outpacing most large-cap stocks on the Kospi. The company’s shares have more than tripled from their annual opening of 37,800 won after taking the banner “Make American Shipbuilding Great Again”—the flagship slogan of South Korea’s U.S. investment drive announced during President Lee Jae-myung’s visit to Washington in August. Hanwha Ocean is set to release its third-quarter earnings on Monday, with analysts projecting an operating profit nearly three times higher than a year earlier. The frenzy over shipbuilding shares underscores a growing bet on a new seaborne boom. “Shipbuilding is a cyclical business, typically following 20- to 30-year patterns,” said Lee Eun-chang, senior researcher at the Korea Institute for Industrial Economics and Trade. “The last peak came in 2011. Under ordinary circumstances, the next boom might not arrive until around 2040, but shifts in global energy policy and geopolitics are reshaping the timeline.” While Korean shipbuilders may not fully regain their dominance over China, Washington’s moves to curb Chinese shipbuilding practices could open fresh opportunities for Korean yards, Lee added. Eom Kyung-ah, a shipbuilding and shipping industry analyst at Shinyoung Securities, pointed to the growing anticipation ahead of the APEC Summit, noting that U.S.–Korea cooperation in shipbuilding is emerging as a key agenda item—with Hanwha Ocean and Hyundai Heavy Industries positioned as central players. 2025-10-23 11:30:07

LG CNS donates AI legal support system for refugees to UNHCR SEOUL, October 23 (AJP) - LG CNS has donated an artificial intelligence–based legal support system to the United Nations High Commissioner for Refugees (UNHCR) to improve legal assistance for refugees in South Korea. The system, developed jointly by LG CNS and UNHCR, was officially handed over during a ceremony in Seoul on Oct. 17, attended by LG CNS President Hyun Shin-kyun and UN High Commissioner for Refugees Filippo Grandi. The AI system — named Agentic Works — is intended to improve legal protection for refugees in South Korea and support lawyers handling asylum cases. By analyzing application materials, interview transcripts, and multilingual documents, the platform can help generate legal drafts in a fraction of the time it currently takes. According to the company, the system can reduce document preparation from several days to just a few hours. Refugee applications are frequently rejected because of language barriers, procedural complexity, and insufficient documentation. LG CNS said its AI solution will help address these issues by enabling lawyers to input and verify essential information more accurately and efficiently. “This program reflects our commitment to using AI not only to advance industry, but to solve pressing social issues,” Hyun said at the signing ceremony. “We hope it will make a meaningful difference for refugees facing legal challenges.” Grandi welcomed the initiative, calling it an example of technology being used for humanitarian support. “This collaboration shows how AI can overcome barriers such as language and help ensure refugees receive the legal support they need,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 10:51:04

South Korea, US to soon begin talks on revising nuclear energy pact, FM says SEOUL, October 23 (AJP) - Along with ongoing tariff-related negotiations, South Korea will soon begin talks with the U.S. to revise the bilateral nuclear energy pact, which currently prevents Seoul from reprocessing its spent nuclear fuel, Foreign Minister Cho Hyun said on Thursday. He made the comments during a radio interview, confirming that some consensus has been reached on revising the decades-long pact and that relevant discussions will take place soon as part of broader security talks. Cho said Seoul has "strongly" called for the right to reprocess spent nuclear fuel and enrich uranium, and the U.S. has signaled its willingness to consider the request. Seoul and Washington first signed the pact in 1974, which details the scope of nuclear technology South Korea can use for civilian purposes. Under the pact, South Korea has been restricted from reprocessing its own spent nuclear fuel rods and enriching uranium for power generation, as Washington fears that South Korea could obtain materials to produce nuclear weapons if allowed. This is why, after years of revision talks, the U.S. only agreed in 2015 to conduct joint research with South Korea on reprocessing spent nuclear fuel rods through a process known as pyroprocessing, which does not produce weapons-grade plutonium. Meanwhile, when asked whether the two countries could finally resolve several contentious issues in trade negotiations in time for next week's Asia-Pacific Economic Cooperation (APEC) summit, he said, "There is no strict deadline," explaining that President Lee Jae Myung has stressed "prioritizing national interests" to reach a deal that should be "commercially rational." He added, "If these conditions are not met, negotiations may take more time." Despite difficulties in ironing out the complex aspects of the negotiations such as how to fulfill and fund Seoul's $350 billion investment in the U.S., part of the deal reached last July to lower reciprocal tariffs from 25 percent to 15 percent, Cho pledged to achieve a "win-win" solution for both countries. 2025-10-23 10:34:12

LG Electronics to expand automotive software business SEOUL, October 23 (AJP) - LG Electronics said Thursday that it has joined SDVerse, a global automotive software marketplace established by General Motors, Magna, and Wipro — a move that underscores the South Korean company’s growing ambitions in vehicle software. Billed as the industry’s first open marketplace for automotive software, SDVerse brings together automakers, Tier 1 suppliers, and developers to accelerate software innovation across the mobility sector. The platform allows buyers to compare software offerings and verify quality standards, while giving sellers access to leading car manufacturers and suppliers. Through its participation, LG aims to expand its presence in the software-defined vehicle (SDV) ecosystem. The company plans to introduce a range of mobility software products on SDVerse, including its proprietary LG αWare platform. LG has already positioned itself as a key technology partner for global automakers, offering in-cabin sensing systems, telematics solutions, and its webOS content platform — technologies that enhance driver safety, connectivity, and entertainment. At the IAA Mobility 2025 exhibition in Munich last September, LG showcased its webOS-based in-vehicle platform, emphasizing its vision to transform cars into “living spaces on wheels.” “By providing proven automotive software solutions, we aim to accelerate innovation for our clients and partners,” said Eun Seok-hyun, president of LG’s mobility business division. “This collaboration will strengthen our competitiveness and contribute to a more dynamic automotive software ecosystem.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 10:16:37

Bank of Korea holds rate steady at 2.5% amid FX, housing instability SEOUL, October 23 (AJP) - The Bank of Korea kept its benchmark interest rate unchanged at 2.50 percent for October, maintaining its cautious stance amid continued volatility in foreign exchange and housing markets. The Monetary Policy Board decided to hold the overnight call rate steady for the sixth consecutive month, citing limited room for monetary easing as it monitors the impact of the pending Korea–U.S. trade deal linked to a $350 billion investment package and the government’s latest efforts to curb speculative home buying. The won has remained under pressure, with the dollar hovering near 1,430 won amid delays in the tariff negotiations between Seoul and Washington. Economists warn that a premature rate cut could further weaken the won and trigger capital outflows. Bond prices rose Wednesday on expectations that the central bank may move toward a rate cut at its final policy meeting in November to support slowing growth. Korea’s economy expanded 0.7 percent in the second quarter, with the central bank set to release its third-quarter GDP estimate next Tuesday. 2025-10-23 10:16:29

Taihan Cable & Solution expands South Africa plant to target region's growing power market SEOUL, October 23 (AJP) - South Korea's Taihan Cable & Solution is expanding its manufacturing footprint in Africa as part of a broader effort to strengthen its competitiveness in the region’s growing power infrastructure market. The cable manufacturer held a ceremony on Oct. 22 to mark the expansion of its power cable plant in South Africa, operated by its subsidiary M-TEC. The project is designed to meet surging demand for medium- and low-voltage cables, which account for more than 90 percent of the country’s underground power market. The upgraded facility effectively doubles M-TEC’s production capacity while improving quality and cost efficiency. The ceremony drew attendees from both government and industry, including Lester Bower of South Africa’s Department of Trade, Industry and Competition; representatives from state-owned utility Eskom; executives from Taihan Cable & Solution’s local partner CIH; South Korean Ambassador Yang Dong-han; and corporate leaders Kim Dae-heon of Hoban Group and Kim Jun-seok of Taihan Cable & Solution. “This investment allows us to better respond to local demand and expand exports across Africa,” Taihan Cable & Solution said in a press release. “We aim to play a key role in stabilizing South Africa’s power grid and in supporting the region’s energy transition as a comprehensive cable provider.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 10:05:53

Japanese director of Korean descent to visit Seoul next month to promote his hit film SEOUL, October 23 (AJP) - Japanese film director and screenwriter of Zainichi Korean descent Lee Sang-il will visit Seoul next month. His visit, slated for mid-November to promote his latest film "National Treasure," also known as "Kokuho" comes ahead of its release in here on Nov. 19. The film, an adaptation of a novel by Shuichi Yoshida that chronicles the passionate lives of men devoted to art over half a century, was an instant hit in Japan shortly after its release, drawing over 10 million viewers in about three months. The film also earned critical acclaim when it was invited to this year's Cannes Film Festival in France in May and the Busan International Film Festival (BIFF) in the country's southern port city last month. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 09:43:41

North Korea says it tested 'cutting-edge weapon system' SEOUL, October 23 (AJP) - North Korea has successfully test-fired hypersonic projectiles, state media reported Thursday, calling them a "new weapon system." The state-run activities are evidently aimed to continue to bolster up the war deterrent and their purpose is to strengthen self-defense," Pak said. While details about the projectiles were not disclosed, they are presumed to be short-range ballistic missiles equipped with a hypersonic glide vehicle (HGV). The North's announcement about the launch came a day after the Joint Chiefs of Staff (JCS) here said it detected the missiles around 8:10 a.m., which flew about 350 kilometers after being launched from an area south of Pyongyang. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 09:01:03

Government push for real estate watchdog stirs debate in South Korea SEOUL, October 23 (AJP) - The South Korean government is moving to create a new real estate oversight agency with investigative powers, a plan that has divided opinion among policymakers and industry experts. The Ministry of Land, Infrastructure and Transport said Thursday it is pushing for the establishment of the body under the Prime Minister’s Office to monitor illegal practices such as price manipulation, false listings, and fraudulent contracts. The proposed agency would be empowered to analyze tax, financial, and credit data to trace ownership and transaction patterns. The proposed agency is the latest in a series of measures the Lee Jae Myung administration has taken to rein in rising housing prices in Seoul and surrounding Gyeonggi areas. Supporters say the new authority could serve as a much-needed control tower, consolidating oversight now scattered among multiple government entities. They argue that clearer accountability could help restore fairness and transparency to a market often rattled by speculation and irregular trading. “Even one or two abnormal transactions can significantly distort prices in a market with limited listings,” said Nam Hyuk-woo, a researcher at Woori Bank. “A dedicated oversight body could help prevent such distortions.” Real estate agents have largely welcomed the move, saying it could help root out unlicensed brokers who often escape detection during joint inspections by the police and local governments. But critics warn that the agency could add another layer of bureaucracy and further chill an already subdued property market. “Tighter scrutiny — including recent tax audits on homes valued above 2 billion won — has already dampened buyer interest,” said one industry insider, who requested anonymity. Some academics and policy experts also questioned whether a new agency is necessary. “There is a risk that the organization will focus more on justifying its existence than achieving meaningful results,” said Lee Eun-hyung, a researcher at the Korea Construction Policy Institute. Ko Jun-seok, a professor at Yonsei University, agreed on the need to curb false listings but cautioned against overreach. “The government should coordinate with existing agencies rather than interfere excessively in market operations,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 08:43:14