TRAVEL: Historic private academy in Nonsan NONSAN, December 04 (AJP) - Nine Confucian academies, known as seowon, from Korea's Joseon Dynasty (1392–1897), were officially inscribed as a UNESCO World Heritage Site in 2019, cementing their status as crucial institutions in East Asian history and education. The seowon were private, residential academies established by respected Confucian scholars. They served two primary functions: as a place for scholarly worship of revered sages and as an educational institution to prepare the next generation of civil servants and intellectual leaders. This system stood in contrast to the hyanggyo, which were the public, state-run schools of the era. The seowon’s blend of academic rigor and moral cultivation made them vital centers for Neo-Confucianism, the Joseon Dynasty's ruling ideology. Among the nine recognized sites is Donam Seowon, located in the city of Nonsan, South Chungcheong Province. The academy traces its origins back to the influential scholar Sagye Kim Jang-saeng (1548–1631). Kim dedicated over three decades to teaching his disciples at this location, beginning in 1602. Following his passing, his devoted students established the academy in 1634 to honor his life and continuing legacy. Donam Seowon, with its tranquil architecture and deep historical roots, now serves as a tangible link to Korea's rich intellectual past. 2025-12-04 15:18:09

Korea's income gap widens by largest rate in 3 years SEOUL, December 04 (AJP) - South Korea’s income gap between the top and bottom 20 percent of households widened to 5.78 times last year, snapping a three-year trend of improvement as income growth slowed and gains increasingly concentrated among high-income earners and older asset-holding households. According to the 2025 Household Finance and Welfare Survey released by the Ministry of Data and Statistics on Thursday, average household income rose 3.4 percent to 74.27 million won ($54,900) in 2024, the slowest increase in five years. Average household assets stood at 566.8 million won and liabilities at 95.34 million won as of March 2025. Housing and property assets accounted for 75.8 percent of total household assets, with the largest holdings among those in their 50s and 60s. Income growth slowed sharply across major categories—wages, business earnings and asset income—pulling down overall gains. Public and private transfer income, however, swung back into positive territory after a decline the previous year. Gains were heavily skewed toward upper-income households. The top 20 percent saw income climb 4.4 percent to 173.38 million won, while the bottom quintile posted a 3.1 percent increase and the second-lowest quintile just 2.1 percent. The pattern also diverged by age. Households headed by people in their 50s recorded a 5.9 percent income increase, supported by strong labor and asset gains. Those led by seniors aged 60 and older saw income rise 4.6 percent. In contrast, 40-something households posted a 2.7 percent rise, and those headed by adults under 40 saw income inch up only 1.4 percent amid weaker wage and asset gains and a decline in business income. The Gini coefficient for disposable income rose to 0.325 from 0.323, worsening for the first time since 2021. The income quintile ratio—comparing average income of the top 20 percent with that of the bottom 20 percent—expanded to 5.78 from 5.72. While inequality widened among working-age households, retirees moved in the opposite direction. For those aged 66 and older, both the Gini coefficient and quintile ratio improved, reflecting higher senior employment, increased national and basic pension benefits, and stronger asset income. The relative poverty rate among retirees fell 2.1 percentage points to 37.7 percent, the lowest level since the data series began in 2011. Non-consumption household spending—including taxes, social insurance contributions and interest payments—rose 5.7 percent to an average of 13.96 million won. Surveyed households estimated their “adequate” average monthly living cost after retirement at 3.41 million won, slightly higher than a year earlier. 2025-12-04 15:14:17

Yonsei University embroiled in another cheating scandal SEOUL, December 4 (AJP) - Another cheating incident has surfaced at Yonsei University, which was previously embroiled in a similar large-scale scandal. About 200 students took an online quiz for an education-related course early this month. Some allegedly shared questions and answers via anonymous chat rooms, while others collaborated using Google Docs, according to multiple university sources on Thursday. The online course had already faced cheating allegations during midterms in October, prompting the prestigious university to switch the final exam to an in-person format, though the quiz remained online. The university is currently conducting further investigations. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-04 14:48:26

Shinhan Financial Chairman Jin Ok-dong poised for extended term SEOUL, December 04 (AJP) - Shinhan Financial Group Chairman Jin Ok-dong is set to secure a second three-year term after delivering consecutive record earnings since taking office in March 2023. On Thursday, the group’s chairman nomination committee named Jin as its final candidate for the next chairman, following interviews with him and other shortlisted contenders, including Shinhan Bank President Jeong Sang-hyeok and Shinhan Investment Corp. CEO Lee Sun-hoon. The committee cited Jin’s “strategic insight, operational expertise and strong ethical leadership,” saying he had strengthened Shinhan’s performance and long-term competitiveness through digital transformation, overseas expansion and tighter internal controls. Born in 1961, Jin began his career at the state-run Industrial Bank of Korea in 1980 and joined Shinhan Bank in 1986, where he held key roles including Osaka branch manager and CEO of the Japanese subsidiary SBJ. Under Jin’s leadership since March 2023, Shinhan has posted steady record operating profits, excluding one-off factors. The group’s cumulative net income reached 4.46 trillion won in the third quarter, placing Shinhan on track to surpass the 5 trillion-won mark for the first time this year. Jin’s renewed term is expected to be finalized at the group’s annual shareholders’ meeting and board meeting in March. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-04 14:26:21

Driver sentenced to five years in prison for fatal crash in central Seoul SEOUL, December 4 (AJP) - A driver involved in a fatal crash in central Seoul last year was sentenced to five years in prison, as the Supreme Court on Thursday upheld the lower court's ruling. The man in his late 60s, identified by his last name Cha, was charged with violating traffic laws after crashing into pedestrians near City Hall in July 2024, killing nine people and injuring five others. Investigations revealed that he had mistakenly pressed the accelerator instead of the brake while driving in the wrong direction on a one-way, four-lane street, hitting pedestrians and oncoming vehicles. The initial court sentenced him to seven and a half years in prison, counting each death and injury as a separate crime. The appellate court, however, ruled that the crimes resulted from a single incident and reduced the sentence to five years. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-04 14:26:16

OpenAI Korea targets enterprise market as ChatGPT usage soars SEOUL, December 04 (AJP) - OpenAI Korea CEO Kim Kyung-hoon said the company aims to become the best partner for South Korean businesses transitioning to artificial intelligence, highlighting the rapid expansion of ChatGPT’s global footprint. Kim made the remarks Thursday at his first press conference since taking office in September. Kim said that daily message volume has jumped from 450 million in June last year to 2.63 billion this June, making AI “a part of everyday life.” “AI adoption will become increasingly important for businesses,” Kim said. “Given South Korea’s exceptionally high use of AI in daily life, building AI-integrated work environments is essential for corporate competitiveness.” Globally, 29 percent of users turn to ChatGPT for practical advice and 24 percent for information searches. In South Korea, usage skews more toward professional tasks: 29 percent of users rely on the tool for document translation and drafting, while 21 percent use it to obtain task-specific guidance. He said that broad consumer familiarity with AI is helping accelerate enterprise-level transitions. According to OpenAI, more than 800 million people now use ChatGPT weekly, enabling companies to run rapid pilot programs and scale AI projects more quickly. Representatives from GS Engineering & Construction and LG Uplus shared case studies at the event. GS E&C has deployed ChatGPT Enterprise to employees to improve workflow efficiency, while LG Uplus will unveil its “Agentic Callbot Standard” on Dec. 16 and a more advanced “Agentic Callbot Pro” next year to enhance customer-service automation. “AI transitions often start from the bottom up,” Kim said. “ChatGPT Enterprise is the first step, as we’ve seen in the productivity gains at GS Engineering & Construction.” OpenAI technologies are now being used by more than one million companies worldwide, Kim said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-04 14:07:52

Lee to discuss AI, semiconductor cooperation with SoftBank chairman SEOUL, December 4 (AJP) - President Lee Jae-myung is set to meet with SoftBank Chairman Masayoshi Son to discuss cooperation in advanced high-technology sectors including artificial intelligence (AI) and semiconductors. According to the presidential office on Thursday, their meeting is scheduled for Friday morning, with a focus on collaboration and infrastructure investment in these sectors. The meeting will also be attended by key officials including chief of staff Kang Hoon-sik, presidential policy chief Kim Yong-beom, Minister of Science and ICT Bae Kyung-hoon. SoftBank is speeding up its AI expansion in the U.S. through its "Stargate" project, working with OpenAI and Oracle to build large-scale AI infrastructure and data centers. South Korea aims to become one of the world's "top three AI powerhouses." Lee already met with OpenAI CEO Sam Altman and Nvidia CEO Jensen Huang in October to discuss cooperation in the field. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-04 13:50:54

Samsung teases new flagship chip for Galaxy S26 series SEOUL, December 04 (AJP) - Samsung Electronics on Thursday unveiled its upcoming mobile application processor, Exynos 2600, with a 30-second teaser video posted on its official YouTube channel. The Exynos 2600 is slated to power the next-generation Galaxy S26 series. The chip is reportedly the company’s first to be built with a cutting-edge 2-nanometer process. The teaser opens with the words, “In silence, we listened,” followed by promises that the new chip is “refined at the core” and “optimized at every level." While full technical specifications have not been revealed, early signals suggest the Exynos 2600’s neural-processing unit (NPU) and overall performance gains may position it as a serious competitor to other premium chips. The company said the Exynos 2600 will mark a significant milestone not only for Samsung’s smartphone line, but also for its semiconductor ambitions. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-04 13:48:45

K-beauty brand O'ngredients gains traction at home and abroad on strong skin-barrier lineup SEOUL, December 04 (AJP) - South Korean skincare brand O’ngredients is gaining momentum both domestically and overseas, backed by strong sales of its skin-barrier products and rising visibility on global e-commerce platforms. According to industry data, O’ngredients’ Skin Barrier Calming Lotion has surpassed cumulative sales of 3 million units in South Korea as of July 2025 and ranked first overall on CJ Olive Young’s online store in December 2024. The product has been one of the brand’s key drivers in the domestic market. Overseas, the brand is beginning to show early signs of traction. On Amazon US, the Skin Barrier Calming Lotion (220 milliliters) recorded sales of about 3,600 units as of November 2025, while its Skin Barrier Glow Mist entered the top 100 rankings in the lotion and face mist category within one month of its launch, according to company data. The growing international interest coincides with O’ngredients’ broader export expansion. Parent company Power Player said its founder and chief executive Kim Yu-jae recently received South Korea’s “2025 Venture Entrepreneur of the Year” award, alongside the government-backed “$5 million Export Tower,” which recognizes companies that achieve significant export milestones. The brand’s performance reflects a broader trend of K-beauty labels moving beyond trend-led marketing toward products centered on skin-barrier care and sensitive-skin solutions — a segment that is increasingly resonating with overseas consumers. O’ngredients has also expanded its offline presence, entering Costco Korea and extending distribution across major Japanese retail chains, including drugstores and specialty beauty outlets, as part of its push to strengthen its foothold in Asia. While global sales remain at an early stage compared with its domestic footprint, company data show the combination of strong repeat demand at home and improving overseas sell-through suggests the brand is positioning itself as part of the next wave of export-driven K-beauty growth. 2025-12-04 13:28:46

Asian market mostly flat early Thursday, KOSDAQ stands out SEOUL, December 04 (AJP) - Asian equities were mostly flat in early Thursday trading as investors stayed on the sidelines ahead of next week’s Federal Open Market Committee meeting in the United States. In Seoul, the benchmark KOSPI slipped 0.5 percent to 4,017.89, while the tech-heavy KOSDAQ surged 9.2 percent to 934.21 as of 9:01 a.m. The secondary market’s total capitalization topped the 500-trillion-won level for the first time, buoyed by reports that the government is preparing a stimulus package aimed at smaller-cap and growth stocks. Selling by both foreign and institutional investors weighed on the main board. Foreign investors unloaded 259 billion won ($176 million) worth of shares, and institutions sold a net 107.6 billion won. Retail investors stepped in as net buyers of 362.8 billion won. Samsung Electronics slipped 0.8 percent to 103,700 won and SK hynix fell 2.5 percent to 538,500 won. Large-cap names showed mixed performance: LG Energy Solution eased 0.1 percent to 417,500 won, KB Financial declined 1 percent to 130,400 won and HD Hyundai Heavy Industries lost 0.9 percent to 529,000 won. Hyundai Motor gained 3.8 percent to 276,500 won, Doosan Enerbility rose 1.8 percent to 79,800 won and Kia added 0.3 percent to 119,000 won. Entertainment shares were weaker across the sector. HYBE slipped 0.8 percent to 293,500 won, JYP Entertainment dipped 0.2 percent to 68,500 won, SM Entertainment fell 0.4 percent to 104,000 won and YG Entertainment eased 0.2 percent to 62,800 won. U.S. stocks closed higher Wednesday as fresh data pointed to cooling labor-market conditions. The Dow Jones Industrial Average rose 0.9 percent to 47,882.90, the S&P 500 gained 0.3 percent to 6,849.72 and the Nasdaq Composite added 0.2 percent to 23,454.09. Private-sector employment fell by 32,000 in November, according to ADP, sharply missing expectations for a 10,000 increase. Sentiment was dented somewhat by reports that Microsoft trimmed its revenue outlook for artificial-intelligence-related businesses. “Signs of weaker employment and easing inflation are reinforcing expectations for a Federal Reserve rate cut,” said Lee Sung-hoon, an analyst at Kiwoom Securities. He noted that growth shares, particularly in biosciences, typically benefit from lower interest rates, although the Korean market failed to reflect that trend at the open. Japan’s Nikkei 225 climbed 0.5 percent to 50,105.72. Toyota Motor rose 0.2 percent to 3,012 yen ($19.4), Honda Motor gained 0.9 percent to 1,516 yen and Nissan Motor added 0.5 percent to 364 yen, sending the country’s automakers modestly higher. SoftBank Group advanced 3 percent to 17,175 yen, Sony Group rose 0.4 percent to 4,407 yen and Nintendo gained 0.9 percent to 12,765 yen. In China, the Shanghai Composite Index edged up 0.1 percent to 3,881.55, while Hong Kong’s Hang Seng Index fell 0.1 percent to 25,728.64. 2025-12-04 11:40:56