Coupang's $1.2 bn compensation plan suspected as marketing, not atonement SEOUL, December 29 (AJP) -Already in the hot seat for what many see as a dismissive attitude toward consumers and regulators, Coupang has drawn fresh public backlash in South Korea with its $1.2 billion compensation plan widely seen as marketing tactic to retain customers rather than offering genuine redress. The e-commerce giant said Monday it would distribute 1.685 trillion won worth of purchase vouchers to 33.7 million current, former and withdrawn users whose personal information was exposed in a data breach disclosed last month. The package — the largest ever announced in South Korea in response to a data-leak incident — applies to Wow paid members, regular users and even former account holders who received official notification. Under the plan, customers will receive four one-time vouchers totaling 50,000 won: 5,000 won each for Coupang and Coupang Eats, and 20,000 won each for Coupang Travel and the luxury platform Alux. The vouchers, which can be used only within Coupang’s ecosystem, will be issued starting Jan. 15. Coupang said the program reflects its determination to “take responsibility and restore customer trust.” Harold Rogers, the company’s interim Korea chief executive, said the firm “deeply reflects on the concern and inconvenience caused” and would make customer trust its top priority. Despite the scale of the package, public reaction has been largely negative, reflecting lingering distrust toward the company. "What it says sounds more like a customer-retention campaign,” one commenter wrote on a major online community. “Even the compensation makes you shop at Coupang in the end,” another widely shared comment read. One accused the company of “trying to lure back users who already left, using compensation as bait.” A closer look finds that only 10,000 won of the total compensation applies to Coupang’s most frequently used services, while the remaining 40,000 won is tied to platforms with far lower usage rates. Because the compensation takes the form of in-platform vouchers rather than cash, it also can forces users to continue spending within Coupang’s ecosystem, blurring the line between restitution and marketing. In absolute terms, the size of the compensation is striking. At 1.685 trillion won, it is more than three times larger than SK Telecom’s 500 billion won compensation package announced earlier this year following its own data breach. The amount also exceeds Coupang Inc.’s combined net profit for the first three quarters of 2025 by more than four times and is roughly 17 times its full-year profit in 2024. At the heart of the backlash is Coupang's aloofness toward public accountability. The U.S.-listed company, whose revenues are generated almost entirely in Korea, has faced repeated criticism over labor practices and governance issues, as well as founder and chairman Bom Kim’s refusal to attend National Assembly hearings. A recent survey by polling firm Realmeter underscores the depth of public dissatisfaction. According to the poll, 69.1 percent of respondents said Kim was avoiding accountability by hiding behind his U.S. citizenship. When asked about appropriate punitive measures, 32 percent supported criminal punishment for those responsible, while 29.4 percent favored business suspension. The controversy appears to be influencing consumer behavior. Some 60 percent of respondents said the scandal had already affected their use of Coupang services. Of those, 26.1 percent said they were considering deleting their accounts, 18.5 percent said they had reduced usage, and 16.1 percent said they had already stopped using the platform. Support was also strong for institutional sanctions, with 63.2 percent backing legislation that would restrict or bar entry into Korea for foreign executives who fail to appear before the National Assembly without legitimate justification. The survey was conducted on Dec. 26 among 512 adults nationwide using an automated response system, with a response rate of 4.4 percent. 2025-12-29 13:40:15

NewJeans full comeback ruled out after Danielle's exit SEOUL, December 29 (AJP) - ADOR confirmed Monday that K-pop girl group NewJeans members Minji and Hanni will resume activities under the agency, while Danielle has been notified of the termination of her exclusive contract, to finalize a four-member return for the K-pop sensation. According to the agency, “Hanni recently visited Korea with her family and had extensive talks with ADOR, during which she had time to review the events leading up to the dispute.” Following what the company described as candid and in-depth discussions, Hanni decided to accept the court’s ruling and continue working with ADOR. ADOR added that “Minji is also in ongoing talks with the company, as both sides seek to reach a mutual understanding of the situation. The agency, however, said it had concluded that continuing its relationship with Danielle would be difficult and notified her of the termination of her exclusive contract. ADOR also stated that “it plans to seek legal accountability from one of Danielle’s family members and former ADOR CEO Min Hee-jin, whom the company says bear significant responsibility for triggering the dispute and delaying the group’s return.” ADOR said its recent discussions revealed that the members had been exposed over a long period to “distorted and one-sided information,” which led to misunderstandings about the company and ultimately escalated into a legal conflict. The agency added that both ADOR and the artists plan to address the controversies that arose during the conflict at a later date, with details on timing and format still under discussion. “ADOR will do its utmost to resolve the matter amicably and ensure that NewJeans can return to fans as soon as possible,” the company said. NewJeans announced in November 2024 that it would seek to terminate its contracts with ADOR, citing the agency’s alleged failure to fulfill its obligations. After months of legal proceedings, a court in October once again ruled in favor of ADOR in its lawsuit seeking confirmation of the contracts’ validity. Last month, ADOR said members Haerin and Hyein had also expressed their intention to return. 2025-12-29 11:37:48

Asian markets diverge as investors navigate ex-dividend effects SEOUL, December 29 (AJP) - Major Asian equity markets moved in different directions in the final week of December, as investors digested ex-dividend adjustments alongside shifting policy and sector-specific signals. South Korea’s stock market extended its rally despite the ex-dividend cutoff, while Japan slipped under selling pressure tied to dividend adjustments and inflation concerns. The benchmark KOSPI rose 1.45 percent to 4,190 as of 10 a.m. Monday, posting a second straight gain and marking the strongest performance among major Asian markets. The index continued its late “Santa rally” even after dividend eligibility ended last week. Retail investors led the advance, net buying 378.1 billion won ($263.4 million), while institutions and foreign investors turned net sellers, offloading 344.0 billion won and 20.0 billion won, respectively, following the ex-dividend date. The won strengthened to 1,435.3 per dollar, up 9.7 won from the previous session, a move widely attributed to tangible measures such as forward exchange selling and currency hedging after recent verbal intervention by authorities. Blue-chip stocks advanced on multiple positive catalysts. Samsung Electronics climbed 2.1 percent to 119,500 won, supported by reports that it passed performance tests for its next-generation HBM4 chips and equipped its latest application processor with an in-house GPU. Investor sentiment was also lifted by the company’s expansion into automotive electronics through its Harman unit’s €1.5 billion ($1.76 billion) acquisition of German auto supplier ZF’s advanced driver-assistance systems business. SK hynix surged 6 percent to 635,000 won after being lifted from “investment warning” status. The rally was fueled by heavy buying and reports that HBM3E prices have risen more than 20 percent, alongside bullish forecasts such as Nomura Securities’ projection that the chipmaker’s operating profit could reach 100 trillion won in 2026. The Korean chipmakers are also set to gain if the mass-scale earthquake in Taiwan causes disruption in chipmaking activities in the country, home to around 70 percent of global chip supplies. Other stocks recently freed from investment warnings also jumped, with Hanwha Aerospace gaining 8 percent to 70,000 won and SK Square rising 3.5 percent to 346,500 won. Naver advanced 3.6 percent to 240,000 won, benefiting from user inflows into its Naver Plus Store following a massive data breach at Coupang that affected about 33.7 million accounts and reportedly led to a decline in the e-commerce giant’s daily active users. Shares linked to autonomous driving also moved higher. Hyundai AutoEver climbed 5.3 percent to 305,500 won, while Hyundai Mobis rose 2.9 percent to 368,500 won. By contrast, LG Energy Solution slipped 2 percent to 375,500 won upon back-to-back EV fallout. After it lost contract with Ford earlier in the month, the company also reported the cancellation of another deal with U.S. battery pack maker Freudenberg Battery Power Systems. The tech-heavy KOSDAQ gained 0.6 percent to 925, supported by retail net buying of 200.0 billion won. Japan’s Nikkei 225 fell 0.32 percent to 50,587, weighed down by ex-dividend selling and stronger-than-expected inflation data that reinforced expectations the Bank of Japan could pursue additional rate hikes. Major stocks were mostly weaker, with Toyota Motor down 0.2 percent to 3,373 yen ($21.6). Semiconductor-related shares also declined, as Advantest slipped 1.4 percent and Disco fell 1.9 percent, though Ibiden bucked the trend, rising 1.1 percent to 6,690 yen following its stock split. Taiwan’s TAIEX opened 0.35 percent higher at 28,654. MediaTek gained 1 percent to 1,400 Taiwan dollars ($44.6) after announcing a joint development with Japan’s Denso on an automotive system-on-chip for advanced driver assistance. Foxconn rose 1.8 percent to 230 Taiwan dollars on growing optimism over AI server shipments. In mainland China, Hong Kong stocks outperformed regional peers. The Hang Seng Index rose 0.8 percent to 26,038 after the United States extended tariff exemptions on Chinese-made semiconductors for another 18 months, lifting Semiconductor Manufacturing International Corp. 3 percent to 73 Hong Kong dollars ($9.4). Meanwhile, China’s mainland benchmarks were little changed, with the Shanghai Composite at 3,964 and the Shenzhen Component at 13,580. 2025-12-29 11:14:03

President Lee Jae-myung's first commute to Blue House SEOUL, December 29 (AJP) - President Lee Jae-myung arrived at the Blue House main building for the first time on Dec. 29, holding a morning tea time with aides and marking the beginning of the Blue House era. President Lee's commute to the Blue House comes about seven months after his inauguration and about three years and seven months after the Yoon Suk-yeol administration moved the presidential office to Yongsan in May 2022. At 12 a.m. on this day, the Phoenix Flag, symbolizing the South Korean head of state, was raised at the Blue House. The official name of the presidential office has been reverted to "Blue House" (Cheong Wa Dae) and the official emblem is also being changed. The presidential office's completion of the return to the Blue House within the year is interpreted as a symbolic expression of the will to break from the Yongsan era, which was stained by the Dec. 3 emergency martial law declaration and impeachment, and to accelerate a future-oriented approach to state affairs. 2025-12-29 10:40:54

Lee begins work at Cheong Wa Dae as presidential office moves back SEOUL, December 29 (AJP) - President Lee Jae-myung worked his first day at Cheong Wa Dae on Monday as the presidential office moved back to the sprawling presidential compound in central Seoul. The relocation comes about 1,330 days after the office moved to Yongsan in May 2022 with the inauguration of his predecessor Yoon Suk Yeol, who was impeached over his Dec. 3 declaration of martial law last year. Lee arrived there at about 9 a.m., greeted by supporters who gathered outside chanting his name. Lee will continue commuting from his current residence in Hannam-dong for the time being, as repairs to the official residence are not yet finished. Upon relocation, a symbolic flag representing the country's head of state was raised at Cheong Wa Dae again. The flag features the national flower mugunghwa or rose of Sharon at the center, flanked by two mythical phoenixes facing each other. 2025-12-29 10:37:45

KAIST team develops one-second powder to stop battlefield bleeding SEOUL, December 29 (AJP) - Researchers at the Korea Advanced Institute of Science and Technology have developed a powder-based hemostatic agent that can stop heavy bleeding within approximately one second of contact. The technology is designed to improve the survival rates of soldiers in combat environments where excessive blood loss is the leading cause of death. The Korea Advanced Institute of Science and Technology (KAIST) announced on December 29 that a joint research team led by Professor Steve Park from the Department of Materials Science and Engineering and Professor Jeon Sang-yong from the Department of Biological Sciences created the material. The project included the participation of an active-duty South Korean Army major to ensure the technology meets the practical demands of the battlefield. Traditional hemostatic agents often come in the form of patches, which are difficult to apply to deep or irregularly shaped wounds. These patches can also lose effectiveness in high-temperature or humid environments. To overcome these limitations, the KAIST team developed a powder that can be sprinkled directly into any wound shape, instantly forming a strong physical barrier. The new material, named AGCL powder, is made from natural substances including alginate, gellan gum, and chitosan. When the powder touches blood, it reacts with calcium ions naturally present in the body. This reaction causes the powder to turn into a solid hydrogel in about one second, sealing the wound. Chitosan further strengthens this seal by binding with blood components. The AGCL powder can absorb blood weighing more than seven times its own weight. In testing, it demonstrated a sealing pressure of over 40 kilopascals, which is strong enough to withstand heavy, high-pressure bleeding even when external pressure is applied by hand. This performance significantly exceeds that of existing commercial products. Animal testing showed that the powder is safe and promotes healing. It resulted in a hemolysis rate of less than 3 percent and a cell survival rate of over 99 percent, while also providing 99.9 percent antibacterial protection. In liver surgery experiments, the powder reduced blood loss and shortened bleeding time compared to current medical products, with liver functions returning to normal within two weeks. The powder remains stable for two years even when stored at room temperature in high humidity. This durability makes it suitable for use in combat zones, disaster areas, or regions with limited medical infrastructure. While developed for military use, the researchers noted the technology can be applied to civilian emergency medicine and surgical procedures. "The core of modern warfare is minimizing the loss of life," said Park Kyu-soon, a doctoral student at KAIST and a major in the South Korean Army who served as the first author of the study. "I started this research with a sense of mission to save even one more soldier. I hope this technology will be used to save lives in both national defense and civilian medical fields." The research was supported by KAIST and received the Minister of National Defense Award at the 2024 KAIST-KNDU Defense Academic Conference. (Paper information) Journal: Advanced Functional Materials (impact factor 19.0) Title: An Ionic Gelation Powder for Ultrafast Hemostasis and Accelerated Wound Healing DOI: https://doi.org/10.1002/adfm.202523910 2025-12-29 10:35:34

Budget minister nominee defines Korea under near-term perfect storm SEOUL, December 29 (AJP) -Lee Hye-hoon, a former three-term opposition lawmaker and economist tapped as the inaugural Minister of Planning and Budget, on Monday described the South Korean economy under a near-term "perfect storm", requiring a fundamental rethink of government spending priorities are set. “We need an approach that finds and eliminates unnecessary spending, while investing boldly in people’s livelihoods and growth,” Lee said as she reported for work at her temporary office at the Korea Deposit Insurance Corp. in Seoul, a day after her nomination. Observing the economy in "structural and complex" crisis, she named structural challenges: a population crisis, climate change, deepening polarization, sweeping industrial and technological disruption, and the decline of regional communities. She described the situation not as an unforeseen “black swan,” but as a “gray rhino” — a widely recognized and repeatedly warned-of risk that has long been ignored until becoming dangerous. “The challenges we face today were visible for a long time,” she said. “What we are dealing with now is the result of failing to respond early enough.” Lee said the newly created Ministry of Planning and Budget was established to move beyond short-term, reactive policymaking and instead serve as a “strategic planning control tower” for the country’s future. She stressed the need to more tightly link planning and budgeting, rather than allocating funds on a case-by-case basis. “I will ensure that taxpayers’ money becomes investment for the future, and that this investment in turn improves people’s lives,” she said. “That is how we create a virtuous strategic cycle.” Lee, a long-time critic of cash-driven fiscal expansion pursued by liberal governments, stopped short of commenting on Lee Jae Myung administration's expansionary fiscal stance, saying she would speak on the matter separately. 2025-12-29 10:28:43

Celltrion wins FDA nod for phase 1 trial of bispecific antibody cancer drug SEOUL, December 29 (AJP) - Celltrion said Monday it has secured U.S. Food and Drug Administration (FDA) approval to begin a phase 1 clinical trial of CT-P72/ABP-102, a bispecific antibody drug designed to treat HER2-expressing solid tumors. The drug, co-developed with U.S.-based Abpro, employs a T-cell engager mechanism that links immune cells directly to cancer cells expressing the HER2 protein. Celltrion plans to begin dosing patients next year following preparatory procedures, according to a company statement. Preclinical studies presented at the Society for Immunotherapy of Cancer conference in November showed the drug suppressed tumors in mice with both high and low HER2 expression, while demonstrating tolerability in primate toxicity tests at doses up to 80 milligrams per kilogram. "CT-P72/ABP-102 is a multispecific antibody candidate that showed potential for improved therapeutic index through antibody binding adjustments in preclinical stages," a Celltrion official said. The approval marks Celltrion's second regulatory milestone for its novel drug pipeline in recent months, following the FDA's fast-track designation for its antibody-drug conjugate CT-P70. Celltrion aims to expand its pipeline to 20 novel drug candidates by 2027, including 10 in clinical stages, as it seeks to reduce its reliance on biosimilar products. 2025-12-29 10:22:41

Coupang offers compensation to 33.7 million users over data breach SEOUL, December 29 (AJP) - Coupang will compensate its users over a massive data breach, the e-commerce giant said on Monday. Starting mid-January, the U.S.-listed company will distribute 1.68 trillion Korean won (US$1.17 billion) in compensation, providing 50,000 won in purchase vouchers per person to paid Wow subscribers, regular users, and former customers who have closed their accounts. The voucher package, set to be distributed on Jan. 15, includes 5,000 won each for Coupang's main shopping platform and its food delivery service Coupang Eats, as well as 20,000 won for travel products and an additional 20,000 won for affiliated luxury beauty and fashion items. Those eligible for compensation will be notified via text message. The compensation plan comes a day after Coupang founder Kim Bom-suk issued his first public apology since the incident, which was revealed on Nov. 18 and involved the leak of sensitive personal information of around 33.7 million customers. The U.S.-based founder apologized the previous day for his belated response, saying he initially believed it was best to "communicate only after all the facts were confirmed." "In retrospect, this was a poor judgment. While Coupang worked tirelessly to resolve the situation, I should have expressed my deepest regrets and sincere apologies from the beginning. My heart has been heavy ever since I first learned of the data breach," Kim said. The compensation package appears aimed at appeasing customers amid an exodus of subscribers from the platform. However, public outrage continues, as the package is seen as insufficient and non-substantive. Moreover, Kim has repeatedly failed to appear for questioning, while only the company's nominal and interim CEO attended a parliamentary hearing on Dec. 17 and offered vague and evasive answers. Interim CEO Harold Rogers, who replaced former CEO Park Dae-jun following his resignation over the breach earlier this month, said the compensation is a "responsible measure for our customers" and pledged that the company would "fulfill its responsibilities to the end" in a statement. "I once again deeply apologize to our customers," he added. Meanwhile, Coupang said it had traced a former employee responsible for the data leak and recovered the equipment used in the hacking. 2025-12-29 10:07:40

Trading in dollar-pegged stablecoins surges as won weakens SEOUL, December 29 (AJP) - As the Korean won weakens against the greenback, trading in dollar-pegged stablecoins has surged, with volumes growing 2.4-fold over the past three months. Rising demand for dollars for overseas investment has boosted trading in stablecoins that can serve as a dollar substitute. According to data from the Bank of Korea, stablecoin trading rebounded sharply after hitting a low in June. Monthly trading value for dollar stablecoins (USDT, USDC and USDS) across South Korea's five major crypto exchanges - Upbit, Bithumb, Coinone, Korbit and Gopax - fell to 7.1 trillion won in June, the lowest since September 2024 (5.2 trillion won). But volumes then surged to 11.3 trillion won in July, 12.1 trillion won in August and 16.9 trillion won in September. September's trading volume was the highest since February (24.6 trillion won), though it remained well below December of last year (31.7 trillion won), when the broader crypto market surged on expectations for U.S. President Donald Trump's second term. Average daily trading showed a similar trend, falling to 238 billion won in June, the lowest since September 2024 (174.3 billion won) before climbing to 363.2 billion won in July, 391.1 billion won in August and 563.2 billion won in September. The BOK's latest figures do not include October, but trading that month is estimated to have risen further. Upbit's own tally showed October trading volume for USDT, a leading stablecoin, at about 6.9 billion tokens, up more than 30 percent from September's roughly 5.2 billion. The rebound has been attributed to the weakening won, which depreciated sharply against the dollar, from 1,366.95 in June to 1,423.36 in October. A crypto market insider said investors expecting further gains in exchange rates may have bought stablecoins to acquire dollars, boosting trading volumes. The broader crypto market rally, with bitcoin hitting an all-time high in October, also likely contributed as well. Meanwhile, discussions on introducing won-denominated stablecoins are likely to be delayed until next year, as related legislation remains pending at the National Assembly. The main focus of the debate is whether they should be limited to banks or extended to nonbank institutions such as fintech firms. 2025-12-29 09:52:06