Gov't task force heads to Cambodia amid rising crimes targeting South Koreans SEOUL, October 15 (AJP) - The government sent a task force to Cambodia on Wednesday to investigate the rising number of crimes targeting South Koreans there. According to the Ministry of Foreign Affairs, the team, led by Vice Foreign Minister Kim Jin-ah, headed to Phnom Penh along with officials from the National Police Agency and other investigators. The dispatch comes after recent revelations of a series of kidnappings, detentions and brutal tortures involving South Koreans, including the case of a South Korean college student who traveled to the Southeast Asian country after being lured by an online employment scam in August and was later found to have been tortured to death. Kim and the task force aim to find and rescue victims and detainees, and also meet with Cambodian officials to seek cooperation for the joint investigation of the student's death. According to the ministry, about 80 South Korean citizens remain unaccounted for, out of some143 reported cases of individuals suspected of being kidnapped or missing. To minimize diplomatic disruptions, former Ambassador to Lebanon Park Il will oversee embassy operations in Cambodia, as the ambassadorial post there remains vacant. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-15 11:13:10

Seoul's indie game festival Beverocks opens ticket sales with Naver Webtoon onboard SEOUL, October 15 (AJP) -The largest indie game festival in the Seoul metropolitan area, Beverocks 2025, has begun early ticket sales, officially kicking off this year’s event. For the first time, the festival will feature games based on Naver Webtoon IPs and will host the experimental game showcase Out of Index as part of its expanded lineup. Smilegate Future Lab announced earlier this week that early-bird tickets for Beverocks 2025, set to run from December 5 to 7 at Dongdaemun Design Plaza (DDP) in Seoul, are now available. Tickets can be purchased through Naver Reservation and Ticketlink, with a super early bird discount of 67 percent off the regular 15,000-won admission price available until October 19. Now in its fourth year, Beverocks has drawn more than 28,000 visitors, establishing itself as South Korea’s leading indie game festival. This year’s event will showcase around 80 curated indie titles both online and offline. A key highlight will be the debut of prototype games based on popular Naver Webtoon series, developed through the Bever Jam game jam. Attendees will be able to play these games on-site. In addition, the Out of Index festival, known for spotlighting unconventional and experimental titles, will be held entirely within Beverocks, adding to the variety of experiences on offer. Oh Sook-hyun, director of Future Lab, said, “With the name change this year, we’re embracing major changes. Our goal is to make Beverocks a platform for indie creators to grow and for visitors to discover new and inspiring indie games.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-15 11:02:13

Asian markets open mixed amid renewed tariff disputes between US and China SEOUL, October 15 (AJP) - Asian stock markets opened mixed on Wednesday, reflecting varied investor sentiment across the region. In Seoul, the benchmark KOSPI rose 39 points at around 3,601 in early trading, while the junior Kosdaq gained 5.2 points to open at 853.2. Japanese shares climbed even higher, with the Nikkei 225 jumping 599.4 points to 47,446.7, buoyed by strong buying in technology and manufacturing stocks. Not all Asian bourses joined the rally though. In China, the Shanghai Composite Index slipped 24.3 points to 3,865.2 amid renewed trade tensions between the U.S. and China, despite U.S. President Donald Trump's more accommodative tone just a day after he threatened to impose additional tariffs of 100 percent on Chinese exports in response to Beijing's plans to restrict exports of rare earths. In Hong Kong, the Hang Seng Index also dropped 448 points to 25,441. 2025-10-15 10:38:53

Kathakali performance opens 11th Sarang Festival in Seoul SEOUL, October 15 (AJP) - The 11th edition of Sarang: The Festival of India in Korea opened on Tuesday evening with a dazzling Kathakali performance at Ewha Womans University's Samsung Hall in Seoul. Around 300 people from South Korea, India, and other countries filled the hall, their attention drawn to the vibrant rhythms and colorful movement unfolding on stage. The air was alive with music as the deep beat of drums, the clash of cymbals, and the resonant chanting of singers created a soundscape that carried the audience into another world. Dancers, dressed in ornate costumes with intricate face paint and towering headpieces, moved with precision and grace. Each gesture and expression told part of an age-old story, weaving emotion and mythology into a single flow. The performance was led by the renowned artist Sreenathan Sreenatha Mandiram and his troupe, invited by the Embassy of India in Seoul to mark the start of this year's Sarang Festival. In his opening remarks, Chargé d'Affaires Shri Nishi Kant Singh described Sarang as "a celebration of mankind's love for life and a reflection of the diversity that the world represents." He also spoke about the enduring cultural ties between India and South Korea, tracing back to the legend of Queen Heo Hwang-ok of Ayodhya and the historical Buddhist exchanges that followed. Kathakali, which emerged in the southern Indian state of Kerala in the 17th century, is one of India's most distinctive classical dance traditions. The art form combines dance, drama, music, and mime, using elaborate gestures and facial expressions instead of spoken dialogue. The stories are usually drawn from the Hindu epics—the Ramayana and the Mahabharata—and are performed through stylized movements accompanied by live percussion and song. Following the Seoul performance, the troupe will continue its tour with shows in Kunsan, Nami Island, Busan, and Miryang, as well as workshops for local dance students. The Sarang Festival, organized annually by the Embassy of India in collaboration with Korean partners, will feature a range of cultural events across South Korea throughout the season. 2025-10-15 10:10:20

Signiel Busan named Asia's 'leading beach hotel' for second consecutive year SEOUL, October 15 (AJP) - Signiel Busan in South Korea's southern port city of Busan has been named Asia's "Leading Beach Hotel" for the second consecutive year, the luxury hotel said on Wednesday. The recognition came from the World Travel Awards, which has selected winners through votes cast by travel experts and industry professionals across more than 160 countries since 1993. Located near Haeundae Beach, the hotel is praised for its panoramic ocean views from all rooms, luxurious interiors, and top-tier facilities and amenities. Its year-round infinity pool, offering ever-changing views of Haeundae, proves popular with guests. The hotel also features ChaoLan, a Michelin-listed modern Cantonese restaurant, along with diverse dining options, a luxury spa, and a lounge, all contributing to its acclaim. General Manager Shim Young-min said the hotel is proud of the latest recognition. "Being selected for the second consecutive year by the prestigious World Travel Awards is an honor. We will continue to endeavor to enhance our facilities and services," he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-15 09:49:16

Hyundai to face massive tariff costs if US maintains 25% rate on car exports SEOUL, October 15 (AJP) - Hyundai Motor could face massive annual costs of more than 8 trillion won if the U.S. maintains a 25-percent tariff on exports of its vehicles, according to a report by NICE Credit Rating. The report estimated Hyundai's annual tariff burden at 8.4 trillion won if South Korea remains subject to a 25-percent rate, compared to 15 percent for the European Union and Japan. This would make Hyundai's costs the highest among major global automakers, surpassing GM (7 trillion won), Toyota (6.2 trillion won), and Volkswagen (4.6 trillion won). The tariffs could also squeeze Hyundai's operating profit margin from 9.7 percent to 6.3 percent. GM trails Hyundai in tariff costs and declining profits, partly due to its manufacturing facility in South Korea, which shipped about 420,000 vehicles to the U.S. last year. If South Korea's tariff rate is reduced to 15 percent and implemented as initially agreed in July, Hyundai's tariff costs would fall to 5.3 trillion won, with an operating margin of 7.5 percent, suggesting that a swift reduction in tariffs is necessary. Despite these challenges, the report remains optimistic about Hyundai's ability to manage tariff burdens, citing its strong profitability and financial flexibility, but also warns that competitors with lower tariff rates could gain ground in the U.S. market. The potential downturn in the U.S. auto market next year makes tariff reductions more urgent, as current demand fueled by tariff-related price hikes could decline, affecting overall sales. The report concludes that declining sales in major markets combined with increased incentives would further erode automakers' profitability. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-15 09:21:24

KOSPI loses early gains as Asian stocks retreat on trade war flare-up SEOUL, October 14 (AJP) - South Korea’s record-setting morning session turned into broad selling by the close, as investors across Asia recoiled from a new chapter in the U.S.–China trade conflict. The benchmark KOSPI slipped 0.63 percent to 3,561.81, after hitting an intraday record high of 3,637.45 earlier in the day. The Kosdaq also dropped 1.46 percent to 847.96. Samsung Electronics, which spearheaded the morning rally on record-breaking third-quarter results, fell 1.39 percent to 92,000 won as investors locked in profits. SK Hynix declined 0.72 percent to 412,000 won. Foreign investors turned cautious after China imposed sanctions on U.S. subsidiaries of Hanwha Ocean in response to Washington’s new shipping curbs. In Taiwan, the TAIEX, which had tracked the early chip rally, closed 0.48 percent lower at 26,793.15. Japan’s Nikkei 225 was the biggest regional loser, tumbling 2.58 percent to 46,847.32 amid political upheaval. The collapse of the 26-year coalition between the ruling Liberal Democratic Party and its partner Komeito clouded the outlook for Sanae Takaichi’s rise as Japan’s first female prime minister. 2025-10-14 17:53:04

Naver Webtoon steals NY Comic Con show with Disney and BOOM extended family SEOUL, October 14 (AJP) - Naver Webtoon can no longer be seen as an exotic newcomer from Korea after its standout showing at the 2025 New York Comic Con (NYCC), held at the Javits Center in New York City from Oct. 9 to 12. One of the largest pop culture conventions in the United States, NYCC celebrates comics, graphic novels, animation, film, and television, drawing more than 200,000 fans from around the world each year. Webtoon's presence this year embodied everything the event stands for. Its growing partnership portfolio now includes global entertainment powerhouses such as the Walt Disney Company and U.S. comic publisher BOOM! Studios, giving it a commanding place alongside the world's most influential creative players. Marking its second consecutive appearance at NYCC, Webtoon showcased a vibrant lineup featuring characters from original series like "Teenage Mercenary" and "Omniscient Reader's Viewpoint," as well as popular IP collaborations with its North American publishing partners. The booth captivated visitors with immersive visuals, diverse art styles, and interactive storytelling experiences. Just two years ago, Webtoon's footprint at NYCC was virtually nonexistent. The sight of the platform's massive exhibition booth this year underscored how quickly its influence has expanded across North America, evolving from niche curiosity to mainstream force. According to Korea's Comic Industry White Paper, the U.S. e-comic market reached $1.87 billion in 2023, nearly double its size in 2018. Although post-pandemic consumption slowed slightly, online readership remains robust. Naver Webtoon owes much of its momentum to the U.S. market, which now accounts for around 20 million monthly active users — about 70 percent of its global readership. Its 2024 Nasdaq debut, which saw shares jump 10 percent on the first day of trading, symbolized not just investor confidence but the global recognition of Korean digital storytelling. Beyond the numbers, Webtoon continues to nurture a broad creative ecosystem. It runs open platforms that empower amateur artists and hosts international contests to discover new voices, enabling creators to shape stories that resonate within their own cultural contexts. The company now counts 26 million creators and over 64 million works worldwide, spanning genres from romance to mythology. Among its biggest success stories is "Lore Olympus," a breakout hit that swept the Harvey, Ringo, and Eisner Awards — the comic industry's top honors — all in the same year, marking a first for a webtoon. Fortune Business Insights projects that the global webtoon market will grow from $8.5 billion in 2025 to $13.7 billion by 2032, reflecting expanding demand for serialized digital storytelling. Webtoon Entertainment's second-quarter revenue climbed to $348 million, up 8.5 percent year-on-year, while operating losses narrowed by nearly 90 percent, signaling that the platform's global expansion is beginning to translate into profitability. "Japan and North America are our twin engines," a company spokesperson said. "We'll expand creator partnerships and build a stronger ecosystem in the U.S. The story of Webtoon has only just begun." 2025-10-14 17:16:14

From traditional to street, the K-food lineup rich for APEC summit SEOUL, October 14 (AJP) - It remains unclear whether the APEC summit in Gyeongju, South Korea, will stage a face-to-face meeting between the U.S. and Chinese leaders later this month, but organizers have ensured a rich and diverse lineup of Korean food and cuisine. Food industry leaders Nongshim, CJ Cheiljedang, and Kyochon F&B have joined household names like Samsung Electronics as official corporate sponsors of the event. They are joined by younger franchises such as Okdongsik and Young Dabang, showcasing a blend of traditional, fusion, and street-food experiences to global attendees. Nongshim, which commands nearly 50 percent of South Korea's ramyun market, will provide 10,000 packets of “Shin Ramyun” featuring characters from Netflix's hit animated series “K-pop Demon Hunters.” The noodle maker, which saw a major brand boost from the film’s global success, will also operate a booth where APEC visitors can enjoy instant noodles just like the characters in the animation. CJ Cheiljedang is set to feature a range of Korean staples including cupbap (rice cup), gim (seaweed) snacks, and tteokbokki (spicy rice cakes). The company’s global frozen-food brand “Bibigo,” already an official partner of the Los Angeles Lakers since 2021, will also be highlighted as part of the K-food showcase. Restaurant chains are taking varied approaches to promote their products. Kyochon F&B, best known for its fried-chicken franchise “Kyochon Chicken,” will operate food trucks at the venue to reinforce Korea’s reputation as the world’s fried-chicken capital. Newer brands such as Okdongsik, Young Dabang, and Buchang Bakery have been invited to offer a more diverse taste of Korean dining — spanning from traditional comfort dishes to trendy street food. Okdongsik, famed for its signature dwaeji gomtang (pork soup), was named one of New York City’s top 100 restaurants by The New York Times. Young Dabang, a snack-bar franchise serving modern variations of tteokbokki and pork cutlet, is also expanding abroad, with branches in the United States, Japan, and several Southeast Asian countries. Edward Lee, a Korean American chef known for his appearances on Netflix’s cooking competition “Culinary Class Wars,” will collaborate with chefs from Lotte Hotel to prepare the leaders’ welcome dinner on October 31. Food featured in Korean cultural exports like “K-pop Demon Hunters” and “Squid Game” continues to fuel the global appetite for Korean culture. Yet experts caution that sustaining the K-food boom will require a long-term strategy. “The continued growth of authentic Korean cuisine abroad will depend on effective localization, customization, and R&D,” said Seulki Lee, professor of Hotel and Tourism Management at Sejong University. “A fine balance between authenticity and versatility must be achieved to ensure Korean food retains its global appeal.” 2025-10-14 17:01:17

Lee calls for urgent rescue of kidnapped South Koreans in Cambodia SEOUL, October 14 (AJP) - President Lee Jae Myung on Tuesday called for using "all available resources" to bring South Korean nationals kidnapped in Cambodia home. During a cabinet meeting with key officials at the presidential office in Yongsan, Seoul, Lee urged officials to "promptly mobilize all available resources to secure the safety of South Korean citizens in Cambodia." His remarks came after the recent revelation that a South Korean college student who visited the Southeast Asian country after being lured by an online employment scam in August was later found to have been tortured to death. "Related ministries and government agencies should establish a regular communication channel between the security authorities of the two countries," Lee said, adding that all South Korean nationals kidnapped in Cambodia should be promptly located and brought home. To prevent similar incidents, he also stressed the need to tighten travel restrictions in areas with a high risk of crime. Last Friday, the Ministry of Foreign Affairs raised advisory levels for Phnom Penh, urging visitors to cancel or postpone trips to the Cambodian capital unless travel is urgent. Lee also called for ensuring sufficient staffing and budget allocations for embassies abroad so they can provide timely assistance to South Koreans in need. With the country's ambassadorial post to Cambodia vacant for more than three months, Seoul has been in consultations with Phnom Penh to increase the number of police officers at the embassy there, which currently has just three personnel, and to establish a dedicated task force within the Cambodian police to handle crime cases involving South Koreans. Crimes targeting South Koreans in Cambodia rose sharply, from single-digit cases in 2021 to around 200 in 2024, and have already surpassed 300 so far this year. According to the ministry, the whereabouts of about 80 South Korean citizens remain unknown, out of some 143 reported cases of individuals suspected of being kidnapped or missing. Cambodia has reportedly become a hub for multinational crime rings that kidnap victims and force them into online scams and phishing schemes. 2025-10-14 16:31:44