PHOTOS: Successful Italian "FORMAGGIAMO!" Event with Masterclass by Chef 'Fabri' SEOUL, November 25 (AJP) – The Italian cheese promotion campaign “FORMAGGIAMO!” wrapped up successfully after running from November 19 to 24 at High Street Italia in Sinsa-dong, Gangnam District, Seoul. On the opening day, Chef Fabrizio Ferrari, known as “Fabri,” hosted a masterclass featuring pasta dishes made with four different cheeses and a fusion dish of cheese kimchi fried rice combining Korean and Western flavors. “FORMAGGIAMO!” is part of the domestic program for this year’s 10th anniversary of the “Week of Italian Cuisine in the World,” an event held simultaneously across the globe. In South Korea, the campaign showcased the value and appeal of Italian cuisine through exhibitions, seminars, cooking shows, and tasting events. 2025-11-25 17:43:24

Korean Air to phase out plastic meal trays for eco-friendly alternatives SEOUL, November 25 (AJP) - Korean Air has decided to gradually replace its in-flight meal containers with ones with eco-friendly, sustainable alternatives as early as next month, the flagship carrier said on Tuesday. The airline will begin using containers made from plant-based, non-wood pulp materials on select routes in early December, with plans to expand their use across its entire fleet by the end of next year. The move is intended to reduce plastic use and carbon emissions as part of its commitment to corporate environmental responsibility. The new containers will replace those used for main dishes in economy class over the past 20 years. Made from materials such as wheat straw, sugarcane, and bamboo, they are considered eco-friendly because they do not require tree lumbering. The containers are also durable, maintaining their shape under high temperatures. Korean Air expects the switch to reduce carbon emissions by about 60 percent. "This is a long-term investment in environmental sustainability," said a Korean Air spokesperson. "As the global aviation industry moves toward decarbonization, we are committed to fulfilling our social responsibilities while continuing to provide quality service to our customers." Korean Air has been actively implementing environmental initiatives. In 2023, the airline replaced plastic cutlery with bamboo utensils. It also runs upcycling programs that transform old uniforms into medicine pouches and worn in-flight blankets into bags for hot water bottles. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 17:26:10

Asian stocks mostly rise as Taiwan, Shanghai lead gains SEOUL, November 25 (AJP) - Asian equities ended mostly higher on Tuesday, led by solid gains in Taiwan and mainland China, while early momentum in several tech-heavy indices faded by the close. South Korea’s benchmark KOSPI rose 0.3 percent to 3,857.78, paring back an early jump of more than 1 percent as enthusiasm around Google’s new generative AI engine, Gemini 3.0, cooled. Local chip and AI-related stocks saw limited spillover from the launch amid reports that Google is relying on its in-house silicon rather than Nvidia chips for inference. Foreign investors bought a net 116 billion won ($78.7 million), helping support the index, while retail investors and institutions booked profits. The won strengthened modestly to 1,472.7 won per dollar, though authorities’ efforts to curb volatility have had limited impact amid persistent structural pressures, including the U.S.–Korea rate gap and elevated household debt. Market bellwethers were mixed. Samsung Electronics climbed 2.69 percent to 99,300 won, nearing the psychologically important 100,000-won level, while SK hynix edged down 0.19 percent as foreign funds sold heavily. AI hardware names advanced, with Samsung Electro-Mechanics jumping 6.86 percent on strong demand for multilayer ceramic capacitors used in AI servers and EVs. Construction and infrastructure stocks also gained on optimism surrounding negotiations toward an end to the Russia-Ukraine conflict. Samsung C&T rose 4.82 percent and Hyundai Engineering & Construction added 1.84 percent. The KOSDAQ slipped 0.05 percent to 856.03 after giving up morning gains. Japan’s Nikkei 225 finished little changed, up 0.07 percent at 48,659.50. Semiconductor-related names were mixed: Advantest rose 4.18 percent and Tokyo Electron gained 3.05 percent, while Ibiden was flat. SoftBank Group tumbled 9.95 percent following the debut of Google’s Gemini 3.0, which investors viewed as intensifying competition in the AI ecosystem. Taiwan’s TAIEX outperformed regionally, jumping 1.54 percent to 26,912.17. Chip giant TSMC rose 2.91 percent and MediaTek climbed 3.04 percent, buoyed by sustained AI demand from the U.S. Hon Hai Precision slipped 0.45 percent amid concerns over weaker-than-expected performance at its EV joint venture with Yulon and speculation about the partnership’s future. China’s markets also advanced. The Shanghai Composite Index gained 0.87 percent to 3,870.02, supported by expectations that the Communist Party will unveil major ICT investment plans — such as 6G and cloud infrastructure — at its December economic policy meeting. Smart grid firm Qingdao Topscomm and cloud networking company Raisecom Tech both rose by the 10 percent daily limit. The SZSE Composite jumped 1.53 percent to 12,777.31, driven by biotech shares after Beijing created a new insurance category, the Commercial Health Insurance Innovative Drug List (CHIIDL), easing pathways for new drugs. Hualan Biological surged 11.21 percent, while Sinoma Science climbed 10.01 percent. Hong Kong’s Hang Seng Index was up 0.66 percent at 25,885 as of 4:45 p.m., with Xiaomi rallying 3.9 percent to HK$40.16. 2025-11-25 17:01:40

Unionized Seoul subway workers threaten strike after failed wage talks SEOUL, November 25 (AJP) - Unionized subway workers in Seoul threatened a full-scale strike at a press conference in front of Seoul City Hall on Tuesday. Seoul Metro, which operates subway lines 1 through 8, warned that they would strike unless their demands for higher wages, the hiring of more staff, and a halt to large-scale layoffs and pay cuts are met. The union added that an all-out strike would begin in the coming weeks if these demands are not addressed. They warned, "If workers' safety is not ensured through the hiring of more staff, we will begin a partial slowdown on Dec. 1, followed by a full-scale strike starting Dec. 12." The slowdown would involve delayed door closures and reduced train speeds, likely causing disruptions for commuters during the morning and evening rush hours. The two sides failed to narrow their differences in recent wage negotiations, with the union seeking a 3 percent salary increase while Seoul Metro offered just 1.8 percent, citing budget constraints. In a recent vote, 83.53 percent of unionized workers supported going ahead with the strike. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 16:45:31

Musinsa posts record profit for second straight year despite fashion industry downturn SEOUL, November 25 (AJP) - South Korean fashion platform Musinsa announced on Tuesday its cumulative operating profit through the third quarter rose more than 20 percent from a year earlier to surpass 70 billion won ($50 million), while revenue increased by double digits. Third-quarter operating profit on a consolidated basis increased 7.3 percent from a year earlier to 11.8 billion won, while revenue expanded 11.8 percent to 302.4 billion won. Cumulative operating profit through the third quarter reached 70.6 billion won, up 20.1 percent from 58.8 billion won a year earlier. Cumulative revenue reached 973 billion won, up more than 153 billion won from 819.6 billion won in the same period. The company opened new stores during the third quarter including Musinsa Standard locations in Gangdong and Ilsan, and 29CM stores in Seongsu. Musinsa Trading, the company's brand distribution subsidiary, also launched offline stores for global brands including Undercover and Y-3. Musinsa opened a Musinsa Standard flagship store on China's Tmall in September and a Musinsa Store official mall in October, participating in the Singles Day shopping festival. The company plans to open its first overseas Musinsa Standard store and a Musinsa Store Shanghai multi-brand shop in December. In Japan, Musinsa operated a three-week pop-up store in Tokyo's Shibuya in October featuring more than 80 domestic brands and expanded collaboration with local fashion e-commerce platform Zozotown. Cumulative fashion exports through the third quarter increased more than threefold from a year earlier. "The third quarter was a period focused on building inventory for the fall-winter season ahead of the year-end shopping peak season and investing in preparation for global market entry," CEO Park Jun-mo said. A Musinsa official added, "Next year we will expand our offline presence overseas in earnest, and naturally there will be investment costs as we deploy resources." 2025-11-25 16:43:05

Koreans spent nearly $6 billion abroad on cards in Q3, setting new record SEOUL, November 25 (AJP) - South Koreans’ overseas card spending hit an all-time high in the third quarter, buoyed by a rebound in outbound travel and steady demand for direct overseas purchases, the Bank of Korea said on Tuesday. Total spending abroad using credit and debit cards reached $5.93 billion between July and September, up 7.3 percent from the previous quarter’s $5.52 billion and surpassing the previous record of $5.71 billion set a year earlier. The central bank attributed the increase largely to stronger travel demand during the summer peak season. The number of South Koreans traveling overseas rose 4.8 percent on-quarter, from 6.77 million to 7.09 million. Credit card spending accounted for $4.09 billion, while debit card transactions totaled $1.84 billion, with both categories climbing more than 7 percent from the previous quarter. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 16:17:18

Asia leans online while US clings to doorbuster ritual in yearend shopping season SEOUL, November 25 (AJP) - The final three months of the year are the busiest for global retailers, with brands competing for visibility through discounts, clearance deals and year-end promotions. Korea’s “Sale Festa”—the nationwide bargain season running from late October to mid-November—remains modest in scale compared to America’s Black Friday and China’s Singles’ Day, but global reach is widening, powered by the strong performance of Korean appliances, beauty brands and increasingly influential fashion platforms. According to Jinkyung Goo, director at the Korea Institute for Industrial Economics and Trade (KIET), the differences stem from market structure: “The U.S. model originated from clearing year-end inventory across a vast territory with high logistics cost, while Korea and China adopted the season more as a consumption-activating tool driven by online retail ecosystems.” Industry estimates show that 2025 Sale Festa sales are projected to reach 9.5 trillion to 10 trillion won, up from roughly 8.7 trillion to 9 trillion won in 2024 and 7.6 trillion to 8 trillion won in 2023, driven almost entirely by platform-led promotions and rising cross-border demand. Unlike the United States, where shoppers still camp outside stores for doorbuster deals, Korea and China rarely see such scenes. The retail dynamics in both markets are now dominated by online ecosystems, with platforms aggressively capitalizing on user traffic spikes rather than clearing inventory. Goo adds that “Korea’s online penetration has become so strong that promotions naturally center on e-commerce rather than physical stores. Companies see bigger promotional effects online, so the season evolved digitally rather than through brick-and-mortar.” In Korea, platforms such as Olive Young, Musinsa, SSG, Coupang and LotteON rely on the Sale Festa brand to boost year-end revenue. They use app push notifications, flash deals, roulette-style coupons and tiered discount tools to convert user engagement into purchases. A Musinsa official noted that winter is the peak sales season for fashion platforms: “Outerwear sales determine the success of the year, and Black Friday helps us amplify brand revenue. This year about 4,500 brands participated, and we prepared logistics aggressively to prevent delivery delays.” The company added that Ugg boots, faux-fur jackets and half-coats emerged as top performers during this season. Musinsa’s “Sale Festa/Black Friday” sales surged 73 percent in 2022 and 44 percent in 2023, underscoring how platforms have turned the season into a strategic revenue engine. Korean consumers overwhelmingly shop online, with 51.5 percent preferring e-commerce over physical stores, according to the Korea International Trade Association. The United States remains an outlier, with Black Friday still functioning as a national ritual rooted in inventory clearing. Retailers such as Best Buy, Target and Walmart use the period to flush old stock ahead of year-end accounting. But even in the U.S., online sales now dominate: Black Friday 2024 online revenue hit $10.8 billion, up 10 percent year-on-year, with mobile transactions accounting for 55 percent, according to Adobe Analytics. Shopify merchants alone generated $11.5 billion during the Black Friday–Cyber Monday period. Still, the culture of crowds lining up at dawn remains uniquely American. China’s Singles’ Day dwarfs both markets. Fueled by aggressive discounting, mobile payments and livestream commerce, Alibaba posted 57.1 billion yuan (US$9.3 billion) in a single day as far back as 2014—more than U.S. Black Friday and Cyber Monday combined at the time. The ecosystem has since evolved into a full consumer-stimulus infrastructure tied directly to Beijing’s consumption-boosting policies. By 2021, 409 million Chinese shoppers—nearly a third of all internet users—were using livestream platforms for purchases. Goo explains, “China’s Singles’ Day scaled rapidly because livestream commerce and mobile payments created a promotional infrastructure at the national level. Unlike Korea, sheer market size means the ceiling for growth is much higher.” Category trends also differ. Electronics and household goods dominate U.S. demand, whereas Korea sees strongest traction in beauty, fashion and small appliances. China skews toward livestream-driven impulse purchases, premium imports and cross-border e-commerce. According to Korean retail platforms, Black Friday in Korea functions less as a ‘clearance’ period and more as a ‘sales accelerator.’ Olive Young and Musinsa both highlight that the domestic market already runs frequent seasonal promotions, reducing the role of Black Friday as a once-a-year deep-discount event. Despite the differences in culture and mechanics, all three markets share one theme: year-end shopping seasons have become a barometer of consumer confidence. Korea’s case is especially telling. The country’s domestic “Black Friday” shows how platforms—not big-box stores—now dictate consumption trends, reflecting a hyper-digitized retail landscape where algorithms, loyalty funnels and app engagement shape spending patterns far more than in-store displays. As Goo puts it, “For Korea’s version to scale further, platforms will need to expand their reach to overseas consumers. Domestic market size is limited, so long-term growth depends on strengthening cross-border accessibility.” 2025-11-25 16:04:19

Kim Sei-young climbs back into top 10 of women's golf rankings SEOUL, November 25 (AJP) - Golfer Kim Sei-young has climbed into the top 10 in the Rolex Women's World Golf Rankings, released on Tuesday. It marks her first time among the top-ranked players in three years and five months, as she moved up one spot from 11th last week. Kim's last appearance in the top 10 was in June 2022. Her resurgence came after an impressive LPGA Tour season, winning the BMW Ladies Championship in South Korea last month, her first victory in five years, followed by a sixth-place finish at the season-ending CME Group Tour Championship in Naples, Florida last week, securing her tenth top-10 finish of the season. Among her compatriots, Kim Hyo-joo is also in the top 10, currently ranked eighth. Atthaya Thitikul of Thailand retained the top spot, followed by American golfer Nelly Korda, Japan's Miyu Yamashita, Australia's Minjee Lee, and British golfer Charley Hull. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 16:03:48

South Korean cable producer TMC to tap US boom with IPO funds SEOUL, November 25 (AJP) - TMC, a South Korean industrial cable producer, said Tuesday it will use funds from its planned initial public offering to expand in the United States, aiming to capitalize on what it described as a “supercycle” driven by surging AI-related data demand. “At a time when the cable market has entered a new supercycle, we plan to strengthen our foothold in the expanding U.S. cable industry and secure new growth engines after listing,” CEO Ji Young-won told reporters in Seoul. Founded in 1991, TMC manufactures cables for ships, offshore plants, nuclear power facilities and optical communications, and is a leading supplier in South Korea’s marine cable market. The company will conduct an institutional bookbuilding process for IPO through Nov. 27, with retail subscriptions set for Dec. 3–4. TMC expects to raise 33.5 billion won from IPO, allocating 32 billion won for facility investments and 1.4 billion won for operating capital. The spending will support the expansion of U.S. production lines, completion of certification processes, and growth in high-value segments such as shipbuilding, nuclear, data centers and telecommunications infrastructure, Ji said. The company plans targeted U.S. investments across three sectors: nuclear power, shipbuilding, and broadband infrastructure. TMC established a production subsidiary in Texas in April, with manufacturing starting this month. TMC is also expanding in nuclear and optical cable segments. The company has secured contracts to supply cables for Shin Hanul Units 3 and 4, following earlier deals for Saeul Units 3 and 4, with deliveries to begin late next year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-25 15:43:57

PHOTOS: Seokpajeong, Seoul's hidden gem where royal history meets tranquil beauty SEOUL, November 25 (AJP) - Seokpajeong, an ancient pavilion with detached traditional residence buildings and gardens in central Seoul, is more than just a historical site, as it serves as a hidden oasis offering a peaceful retreat from the city's bustle. Located in the tranquil district of Buam-dong on the slopes of Mt. Inwangsan, the pavilion is awash in vibrant autumn leaves at this time of year, welcoming visitors with its seasonal beauty. Once used by Gojong, the last king of the Joseon Dynasty, as a secluded royal residence, Seokpajeong, which literally means a "pavilion on a rocky hill," was designated a tangible cultural asset in 1974 and has been preserved as a museum ever since. According to historical records and folklore, Seokpajeong originally belonged to a high-ranking official and the site's breathtaking landscape caught the eye of Heungseon Daewongun, Gojong's father and the period's most powerful political figure. When the official refused to sell, Daewongun devised a cunning plan and arranged for the young king to spend a night at the villa. Under royal protocol, no subject could live in a place once visited by the king, forcing the official to relinquish his cherished retreat. Enchanted by the natural beauty of the rocks and surrounding mountain scenery, Daewongun even adopted his pen name from the pavilion. The Chinese-style pavilion, with its granite floor, exudes a unique and exotic charm, setting it apart from other traditional pavilions. Along the path to the inner garden stands a giant rock shaped like an elephant. Believed to be a site of spiritual energy, it attracts many visitors who come to make wishes. Visitors can also look around the country's traditional roof-tiled houses or hanok, which consist of a main quarter, a guest room, and a separate wing connected by a small gate and stone walls, forming a square-shaped courtyard layout. Another highlight is an old pine tree, protected by the city for its historical significance. Its gnarled branches stand as silent witnesses to the site's centuries of history. 2025-11-25 15:31:33