Director Park Chan-wook wins award at film festival in Spain SEOUL, October 20 (AJP) - Award-winning director Park Chan-wook added another gong under his belt as he won an award given to the best director with his latest film "No Other Choice." Park won the award at this year's Sitges Film Festival, which wrapped up in Spain last Sunday. The festival, the world's largest genre film festival, showcases fantasy and horror films celebrated for their creativity. Park has long been the festival's favorite, having previously won awards for "Oldboy" (2003), "Three… Extremes" (2004), "I'm a Cyborg, But That's OK" (2006), "Night Fishing" (2011), and "The Handmaiden" (2016). Earlier the thriller was invited to the Venice International Film Festival last month, becoming the first South Korean film in more than a decade to compete there. About a week later, it also won the International Audience Award at the Toronto International Film Festival. Park's 12th feature, an adaptation of American writer Donald E. Westlake's novel "The Ax," revolves around a man who believes he has achieved everything in life until he is suddenly laid off and must find a new job to support his family. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 15:21:54

South Korea's Hanwha Systems showcases high-resolution radar satellite SEOUL, October 20 (AJP) - South Korea's Hanwha Systems has revealed a new radar satellite that can capture extremely detailed images from space, marking a major step in South Korea’s space and defense ambitions. The company, along with Hanwha Aerospace and Hanwha Ocean, showcased the Very Low Earth Orbit (VLEO) Ultra High Resolution (UHR) Synthetic Aperture Radar (SAR) satellite for the first time at the Seoul International Aerospace and Defense Exhibition (ADEX) 2025 in Ilsan, Monday. Operating at altitudes below 400 kilometers, the VLEO UHR SAR satellite can detect objects as small as 15 centimeters — like a cell phone or a water bottle — surpassing the resolution of current top-tier radar satellites. The breakthrough could transform how South Korea observes and gathers data from space. Hanwha Systems said it plans to expand beyond building satellites to offer satellite imaging services and AI-based image analysis. The company also displayed a range of advanced radars, including systems for the KF-21 fighter jet, unmanned combat aircraft, and Gray Eagle-STOL drone. In a joint effort with Italy’s Leonardo, Hanwha unveiled the GRIFO-EK radar for light combat aircraft, attracting strong interest from the defense sector. Hanwha also presented an AI-powered integrated air defense system that can identify and respond to threats at various altitudes and distances. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 14:29:24

Speculation mounts over Trump–Kim meeting as Panmunjom tours suspended during APEC summit SEOUL, October 20 (AJP) - Tours to the truce village of Panmunjom will be suspended from late October to early November, coinciding with the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju next week. "There will be no tours to Panmunjom provided by the ministry during that period," said Gu Byung-sam, a spokesperson for the Ministry of Unification on Monday, adding that any further inquiries should be directed to the United Nations Command (UNC), which governs the demilitarized zone between the two Koreas. In coordination with the UNC, the ministry has offered group tours twice daily of up to 40 people, mostly consisting of government officials and researchers from state-run institutions. The temporary halt is fueling speculation about a possible surprise meeting between North Korean leader Kim Jong-un and U.S. President Donald Trump, who is scheduled to make a brief visit to the historic city for the summit, which is scheduled to take place from Oct. 31 to Nov. 1. Talks of such a meeting have already surfaced after CNN reported over the weekend that U.S. officials are "quietly discussing" it, "though many are skeptical that it will ultimately happen." In 2019, Trump and Kim had a photo-op at Panmunjom with only about a day's notice, shortly after exchanging messages on X, formerly Twitter, suggesting a similar event could occur again. But the UNC merely said it would not comment on hypothetical situations related to the matter, adding that requests for access to the Joint Security Area (JSA) are handled in accordance with safety and relevant procedures. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 14:26:06

KAI teams up with US defense firm to develop manned-unmanned aircraft systems SEOUL, October 20 (AJP) - Korea Aerospace Industries (KAI) said Monday it had signed a memorandum of understanding with Kratos Defense & Security Solutions, a U.S. defense company known for its unmanned aerial systems, to collaborate on manned-unmanned teaming technology. The agreement seeks to establish a partnership in developing systems that integrate piloted aircraft with drones — known as manned-unmanned teaming, or MUM-T — for the domestic market, with an eye toward future expansion overseas. KAI has identified MUM-T platforms as one of its six next-generation growth areas. Earlier this year, the company unveiled KAILOT, an artificial intelligence pilot brand, as part of a broader push to advance autonomous flight technology. Kratos, based in San Diego, has built a reputation as a key player in the U.S. defense sector, producing systems such as the XQ-58 Valkyrie and BQM-167 aerial target drones. Over the past decades, the company has supplied high-performance drones for the U.S. military and recently achieved milestones in collaborative combat aircraft and MUM-T operations. The partnership comes as South Korea seeks to merge artificial intelligence and autonomous flight into its next generation of combat systems. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 14:16:07

South Korean Air Force to work with science ministry to develop quantum-based weapons SEOUL, October 20 (AJP) - The Ministry of Science and ICT and the South Korean Air Force signed an agreement Monday to collaborate on developing next-generation weapon systems powered by quantum technology. The signing took place at the KINTEX convention center in Ilsan, northwest of Seoul. Quantum technologies — long touted for their potential to revolutionize both civilian and military systems — could enable GPS-independent navigation, stealth detection, and even the disruption of encrypted communications. Under the agreement, the ministry will provide the Air Force with technical consulting and infrastructure support, while the Air Force plans to incorporate quantum applications into future weapons development requirements. “This agreement will promote the development of advanced weapon systems using quantum technology, strengthening national defense and achieving technological independence,” said Ryu Je-myung, the second vice minister of science. “It is also expected to enhance the competitiveness of K-defense.” Air Force Chief of Staff Gen. Son Seok-rak added that the military would “actively cooperate with the science ministry to secure innovative technologies such as quantum radar and hybrid combat systems.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 14:03:39

Asian shares broadly higher early Mon, led by Nikkei's rally to new highs SEOUL, October 20 (AJP) - Asian markets opened higher across the board Monday, led by Japan, as political uncertainties eased following Sanae Takaichi’s likely premiership and sentiment in China improved after the central bank left its loan prime rates unchanged for October. Japan’s Nikkei 225 surged 2.6 percent in early trading to hit fresh record highs after reports of a political breakthrough in Tokyo — a coalition deal between the ruling Liberal Democratic Party and the Japan Innovation Party — paving the way for Takaichi’s appointment as prime minister. The KOSPI opened 0.71 percent higher at 3,775.4 but soon hovered near flat as investors took a breather from last week’s record-setting rally driven by optimism over a possible tariff deal with the United States. Market participants also stayed cautious ahead of Thursday’s Bank of Korea monetary policy meeting and Friday’s release of the U.S. consumer price index. Among major movers, SK hynix extended its record-breaking climb, rising 2.3 percent to 477,500 won (US$ 335.69), while Samsung Electronics slipped 0.6 percent to around 97,000 won. LG Electronics jumped 5.6 percent to about 89,000 won after its third-quarter earnings beat market expectations. In China, the Shanghai Composite Index edged up 0.6 percent to around 3,862, while Hong Kong’s Hang Seng Index advanced 2 percent to 25,753, recovering losses from last week. Taiwan’s TAIEX rose 1.7 percent to 27,761, and Singapore’s Straits Times Index traded higher in off-market hours. 2025-10-20 11:28:18

More South Koreans likely involved in scam frauds in Cambodia SEOUL, October 20 (AJP) - Statistics suggest that more South Koreans are involved in scam frauds and phishing schemes in Cambodia than previously estimated. According to data from the Ministry of Justice submitted to lawmaker Park Chan-dae of the ruling Democratic Party and revealed on Monday, the number of South Koreans who traveled to Cambodia but did not return has risen sharply in recent years. The figure was 113 in 2021, but surged to a whopping 3,209 in 2022, 2,662 in 2023, and 3,248 in 2024. As of August this year, 864 had not returned. The number of travelers to the Southeast Asian country surged from 5,476 in 2021 to 108,820 in 2024. In the first eight months of this year, 67,609 have traveled there. It is also believed that many people may have entered Phnom Penh via neighboring countries such as Thailand and Viet Nam, which are not reflected in local official statistics. Supporting this, Cambodia's immigration data shows higher numbers, with 60,740 South Koreans entering in 2022 and 192,305 in 2024. For this reason, experts suggest the actual number involved in scam-related crimes may far exceed the estimated 1,000, as some enter Cambodia illegally via China. Emerging evidence and testimony from witnesses indicate that far more South Koreans may have faced detention, violence, and organ trafficking than officially reported. Park emphasized the need for a thorough review of travel records and consular data to tackle the issue. Meanwhile, police are seeking arrest warrants for 59 of the 64 suspects who were detained in Cambodia over alleged online job scams and other crimes and brought home last Saturday. Four were released, and one was denied an arrest warrant by prosecutors. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 11:23:45

South Korea's DAPA signs pact with Brazil's Embraer to expand transport aircraft partnership SEOUL, October 20 (AJP) - South Korea’s defense procurement agency has signed an agreement with Embraer, Brazil’s leading aerospace manufacturer, to deepen industrial ties and expand Korean participation in the company’s global supply chain. According to the Defense Acquisition Program Administration (DAPA) on Monday, the agency signed a memorandum of understanding with Embraer S.A. during the Seoul International Aerospace and Defense Exhibition (ADEX) 2025 in Goyang, just outside Seoul. The agreement aims to increase the use of Korean-made components in Embraer aircraft exported around the world and to promote broader defense collaboration between the two countries. Founded in 1969, Embraer is one of the world’s top three civilian aircraft manufacturers, with more than 9,000 aircraft delivered globally. In recent years, the company has been expanding its footprint in the military sector with its C-390 Millennium transport aircraft, which has been adopted by several air forces, including those of Brazil and Portugal. South Korean small and medium-sized suppliers are already contributing key components to the C-390 program, with exports valued at about 450 billion won ($330 million). Those same parts are expected to be used in the aircraft to be acquired by the South Korean Air Force. Under the new memorandum, DAPA and Embraer plan to broaden cooperation, allowing Korean firms to become part of Embraer’s global supply network and explore new defense opportunities in Korea and beyond. “Korean companies play a crucial role in the C-390 project, and this MOU will broaden our cooperation,” Bosco da Costa Jr., CEO of Embraer Defense & Security, said in a statement. “We hope to create new success stories in the global defense market with our Korean partners.” Kang Joong-hee, who heads DAPA’s aviation business division, said the agreement marked “a significant step toward a collaborative growth model that goes beyond a simple buyer-seller relationship between Korea and Brazil.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 11:19:20

Animated film 'Your Letter' sold to over 160 countries ahead of global release SEOUL, October 20 (AJP) - Animated film "Your Letter" has been sold to over 166 countries ahead of its global release. Countries where the film has been pre-sold include Japan, Indonesia, Italy, Malaysia, Singapore, Spain, Thailand, and the U.K. Praised after its premiere at the Ottawa International Animation Festival in September last year, the 96-minute film was released here the following month. Starting with its overseas release in Viet Nam earlier this month, the film is set to hit local theaters in Indonesia and Malaysia this week, and in Singapore and Thailand next week. It is also scheduled for release in North America early next year. Directed by Kim Yong-hwan, the film tells the story of a student who transfers to a rural school and finds a mysterious letter that leads her on a treasure hunt. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 10:14:44

Taiwan to surpass South Korea in per capita GDP in 2025: IMF SEOUL, October 20 (AJP) - South Korea is set to lose its long-held economic edge over Taiwan this year, according to new projections from the International Monetary Fund. The IMF expects South Korea’s per capita gross domestic product to fall to 37th place globally, while Taiwan’s rises to 35th, marking the first time in 22 years that Taiwan will surpass its East Asian rival. In its World Economic Outlook released on Oct. 15, the IMF estimated South Korea’s GDP per capita at $35,962 for 2025, down 0.8 percent from last year’s $36,239. The decline pushes South Korea down three spots among the world’s 197 economies. Taiwan's GDP per capita, by contrast, is expected to climb 11.1 percent from $34,060 last year to $37,827 this year, driven by a resilient technology sector and strong export performance. The increase would move Taiwan up to 35th place globally. The shift underscores a broader divergence between the two economies that have long been seen as industrial peers — both export-driven, high-tech nations that transformed rapidly in the latter half of the 20th century. But in recent years, Taiwan’s booming semiconductor industry and diversified export base have helped it outpace South Korea’s more uneven growth, which has been slowed by weak consumption and a sluggish property market. The IMF projects South Korea will reach a GDP per capita of $40,802 by 2028, hitting the $40,000 milestone a year earlier than previously forecast. Still, the nation’s global ranking is expected to slide further — to 38th next year, 40th in 2028, and 41st in 2029 — as other advanced economies grow faster. Taiwan’s trajectory, meanwhile, remains sharply upward. The IMF expects the island to surpass the $40,000 mark next year, reaching $41,586, and to rise to 31st place globally. By 2030, Taiwan’s per capita income is projected to exceed $50,000. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-20 10:13:41