KOSPI sinks below 4,000 as U.S. tech selloff deepens; KRW nears 1,460 per USD SEOUL, November 07 (AJP) - Asian stocks tumbled on Friday as a sharp overnight correction in U.S. technology shares reignited concerns about a potential “AI bubble,” sending investors toward safe-haven assets and pushing the Korean won to its weakest level in months. The won briefly touched 1,458.0 per U.S. dollar during intraday trading, pressured by simultaneous foreign selling, lingering uncertainties surrounding U.S. tariff negotiations, and a broad pullback from risk assets after the renewed tech rout on Wall Street. The dollar eased slightly to 1,457.35 won as of 4:40 p.m., up 9.65 won from the previous session, whereas it lost 0.24 yen to 153.50 yen. The Nasdaq slump was led by Tesla and Nvidia, both key customers for South Korean suppliers. Additional pressure came from renewed scrutiny of OpenAI’s financial structure, which revived questions about overheated AI valuations, while U.S. labor concerns resurfaced after data indicated 150,000 layoffs in October, clouding the broader economic outlook. Sentiment further weakened on reports that at least six of the nine U.S. Supreme Court justices expressed skepticism over the legality of the Trump administration’s reciprocal tariffs, dimming prospects for timely policy clarity and complicating expectations for near-term Federal Reserve rate cuts. South Korea’s benchmark KOSPI fell 1.81 percent to 3,953.76, slipping below the 4,000 threshold for the first time in weeks. Foreign investors sold a net 433.3 billion won ($297 million), and institutions offloaded 220 billion won, while retail investors stepped in to buy 651.3 billion won on bargain hunting. Semiconductor bellwethers retreated in tandem, with Samsung Electronics down 1.31 percent to 97,900 won and SK hynix sliding 2.19 percent to 580,000 won. EV-linked stocks tracked Tesla’s decline, with Samsung SDI tumbling 4.97 percent to 306,000 won and LG Energy Solution dropping 1.38 percent to 463,500 won. Some stocks managed to resist the broader weakness. Kakao rose 3.46 percent to 62,800 won after reporting record-high third-quarter earnings driven by advertising, platform services and music-related content revenue. Innotech, a manufacturer of reliability and environmental test equipment and a key supplier to Samsung Display and Samsung Electronics, delivered a standout KOSDAQ debut. The stock surged 300 percent from its offering price of 14,700 won to close at 58,800 won, one of the session’s few bright spots. Across the region, Japan’s Nikkei 225 lost 1.21 percent to 50,270 as technology and AI-related names weighed heavily, with semiconductor test equipment maker Advantest down 5.54 percent to 19,960 yen ($130) and SoftBank Group tumbling 6.87 percent to 1,600 yen. China’s Shanghai Composite Index slipped 0.25 percent to 3,997 after export and import data disappointed, reinforcing concerns over sluggish domestic demand. Taiwan’s TAIEX fell 0.89 percent to 27,651.41, pressured by global tech weakness, while Hong Kong’s Hang Seng Index was down 1.02 percent at 26,214 as of 4:15 p.m., with Xiaomi sliding 3 percent to HK$42.1 ($5.4) amid a broad selloff in Chinese technology stocks. 2025-11-07 16:47:58

Korea's growing multicultural families test social readiness for diversity SEOUL, November 07 (AJP) - Interracial marriage in South Korea, once largely associated with aging rural bachelors seeking younger spouses from Southeast Asia, has evolved as cross-border unions expand into Europe and North America — underscoring the need for a more systematic framework for addressing depopulation and building an inclusive society. Government data show that one out of every 20 babies born in Korea last year was part of a multicultural family, and both marriages and births involving foreign spouses are on the rise. Interracial marriages surpassed 21,000 in 2024, the highest in five years, and babies born to such families increased for the first time in 12 years. “The rise reflects a rebound in international marriages held back during the COVID-19 period and a more foreign-friendly living environment,” an official from the statistics office said. Stories of multicultural households are also becoming more visible in everyday media. On YouTube, the Korean–British couple behind the channel “Jin and Hattie” has amassed 9.8 million subscribers, while Indian TV personality Abhishek ‘Lucky’ Gupta and German broadcaster Daniel Lindemann — both of whom rose to fame on JTBC’s Abnormal Summit — have drawn additional attention after marrying Korean women. The demographic makeup of these marriages offers additional clues. Unions between Korean men and foreign women accounted for 71.2 percent of all international marriages last year, followed by marriages between Korean women and foreign men at 18.2 percent, and marriages between naturalized Koreans at 10.6 percent. Vietnam remains the most common nationality among foreign wives at 26.8 percent, while the United States led among foreign husbands at 7 percent. Despite the rise in marriages, interracial divorces fell slightly to 7,992 cases last year — a 2 percent decline — suggesting improvements in regulation, support systems, and cultural awareness. The share of multicultural divorces in all divorces remained steady at 8.8 percent. Birth trends also signal a notable shift. The number of babies born to multiracial families reached 13,416 in 2024, up 10.4 percent from the previous year, marking their first rebound since 2012 and accounting for 5.6 percent of all newborns. Yet parenting remains the biggest challenge for these couples. According to the 2024 National Survey on Multicultural Families, more than 70 percent of multicultural households reported difficulties raising children. Families with preschool-age children pointed to having “no one to help when the child is sick,” while parents of school-age children cited financial burdens. Although awareness of government programs is relatively high, participation remains low. While 83.4 percent of single-parent multicultural families knew about child support subsidies, only 40.2 percent received them, largely due to language barriers and bureaucratic hurdles. Such challenges often surface in popular culture. A recent TV program featuring a Canadian mother in Korea showed how her young child, fluent in Korean, struggled to communicate with her because of her limited language skills. The episode resonated widely, highlighting the cultural and emotional strain that can arise in everyday family life. Despite these obstacles, outcomes for multicultural children are improving. The college enrollment rate for students from multicultural families rose to 61.9 percent, up sharply from 40.5 percent three years earlier. With more than 1.12 million residents now living in multicultural households — over 5 percent of the population — Korea’s demographic profile is undergoing a structural transformation. As the country debates long-term solutions to low birthrates and labor shortages, multicultural families are emerging as an increasingly vital part of its social future. 2025-11-07 16:45:42

South Korea to launch special benefit program to nurture scientists and AI experts SEOUL, November 7 (AJP) - The government will foster scientists and related professionals by offering a range of benefits to support their research and other studies, the Ministry of Science and ICT said on Friday. The ministry plans to finalize concrete plans for such a program with an aim to launch it by the second half of next year. Under the program, about 20 scientists will be selected annually over the next five years to receive research grants, stipends, and various other benefits. "To attract top talent and boost scientific research, a record 35.3 trillion won has been allocated to research and development (R&D) in the government's budget," said Ha Jung-woo, presidential adviser for artificial intelligence (AI) and future strategies and former employee of the country's largest portal Naver, during a press briefing. "The government plans to expand science-focused schools and other specialized educational institutions to nurture students and young prodigies into AI experts, while aiming to attract 2,000 foreign specialists by 2030," he added, stressing the need to also enhance the competitiveness of provincial universities. "Under President Lee Jae Myung's strong commitment to transforming South Korea into a science and technology powerhouse, the government also plans to raise R&D spending to about five percent of the total annual government expenditure," Ha explained. Expressing optimism about a recent increase in applicants for science and math majors at universities, he hoped the upcoming program would further accelerate this trend. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-07 16:41:33

HOT STOCK: Innotech rockets to the ceiling on KOSDAQ debut on chip-related hype SEOUL, November 07 (AJP) - Innotech, a South Korean maker of environmental test equipment, quadrupled on its KOSDAQ debut Friday, underscoring the frenzied appetite for anything tied to chipmaking. The shares opened at 50,300 won — 242 percent above the initial public offering (IPO) price of 14,700 won — and immediately hit the daily permissible ceiling of 58,800 won ($40). The stock stayed locked at the upper limit throughout the session despite a sweeping rout that dragged both the KOSPI and KOSDAQ down around 2 percent. KB Securities was the sole underwriter. Founded in 2013, Innotech specializes in reliability and environmental testing systems that simulate extreme conditions — from minus 70 to plus 250 degrees Celsius — to verify durability against heat, humidity, and vibration. Such systems are essential across semiconductor, battery, display, and automotive manufacturing, where production stability and quality assurance hinge on precision testing. By developing proprietary technologies and offering integrated services from design and manufacturing to maintenance, the company has reduced reliance on imported equipment. This strategy helped Innotech secure major clients including Samsung Display, Samsung Electronics’ Mobile Division, and Samsung SDI between 2019 and 2023. The firm has also expanded overseas with a Vietnam subsidiary and around $5 million in exports. Financial performance has strengthened steadily. Revenue rose from 6.4 billion won in 2021 to 16.7 billion won ($11.46 million) last year, representing a compound annual growth rate of 27.1 percent over four years. Investor demand for the IPO was overwhelming. Institutional book-building drew a subscription ratio of 1,072 to 1, pushing the pricing to the top of the indicative range. Retail demand was even stronger, with 410,000 bids, a competitive ratio of 2,427 to 1, and deposits swelling to 7.85 trillion won. A KB Securities official said Innotech’s growth prospects in displays, semiconductors, and secondary batteries “drew strong interest from both institutional and individual investors.” Innotech plans to use the proceeds to develop next-generation testing systems for semiconductors and batteries, expand R&D, and strengthen its global customer network. CEO Jang Seok-jun said the firm aims to become “a leading global provider of complex reliability and environmental testing equipment through continued technological innovation.” 2025-11-07 16:25:34

PHOTOS: Fall festivals for international students SEOUL, November 07 (AJP) - South Korean universities are rolling out diverse cultural events this fall to integrate a growing international student body, which surpassed 200,000 in 2024. As the number of foreign students continues to rise, universities across the country are hosting festivals aimed at fostering cultural exchange and community. In Suwon, Gyeonggi Province, Ajou University hosted its annual "Ajou International Day," showcasing the diverse cultures of its students. The festival featured booths where international students presented traditional clothing and food from their home countries, offering a hands-on experience of global culture to the entire campus community. In Busan, Pukyong National University focused on inter-student mingling by holding a "Global Sports Day." The athletic event provided a lively setting for foreign students to engage and socialize with their South Korean peers through various activities. 2025-11-07 16:08:51

South Korea's top enterprise software company sold to Swedish PEF SEOUL, November 07 (AJP) - Douzone Bizon, South Korea’s leading enterprise software provider, has been acquired by Swedish private equity firm EQT Partners for 1.3 trillion won, or about $940 million. The company said Friday that founder Kim Yong-woo, who held a 22.3 percent stake, and Shinhan Financial Group, with 34.8 percent, sold their shares to EQT’s special-purpose vehicle, Doronicum. The Swedish firm will control 37.6 percent of voting rights, becoming the new majority shareholder. Founded in 1991, Douzone Bizon has long dominated South Korea’s market for accounting and enterprise resource planning (ERP) software for small and medium-size businesses. Over the past decade, it expanded into public-sector digital services and launched its cloud-based platform, WEHAGO, in 2011. Despite its market leadership, Douzone has faced criticism for high service costs, user complaints, and governance concerns tied to Kim’s family management. EQT said the acquisition reflects its commitment to expanding in Asia and to supporting Douzone Bizon’s transformation into a broader digital business ecosystem. Industry insiders said EQT could eventually make a tender offer for remaining shares, a move that might lead to Douzone Bizon’s delisting from the Korean stock market. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-07 15:47:32

Azerbaijani ambassador calls for lasting peace at Victory Day reception in Seoul SEOUL, November 07 (AJP) - The Embassy of the Republic of Azerbaijan in Seoul hosted a Victory Day reception on Thursday to commemorate the country's 2020 Patriotic War. The event, held at the Grand Hyatt Seoul, brought together around 100 guests, including foreign diplomats, South Korean government officials, business representatives, scholars, and members of the media. Azerbaijani Ambassador to South Korea Ramin Hasanov said the day marked the end of long-standing injustice and the restoration of Azerbaijan's territorial integrity. He noted that the victory liberated about 20 percent of the country's territory that had been under occupation for decades and reaffirmed its sovereignty in line with international law. The 2020 conflict, known in Azerbaijan as the Patriotic War, was a six-week confrontation between Azerbaijan and Armenia over the Nagorno-Karabakh region and nearby areas. The fighting ended in November 2020 under a Russia-brokered ceasefire, with Azerbaijan regaining control of much of the territory it lost in the early 1990s. Since then, the two countries have been engaged in talks aimed at reaching a comprehensive peace treaty and finalizing their border. In August 2025, they announced a framework peace agreement during negotiations in Washington, pledging mutual recognition of territorial integrity and regional cooperation. Although tensions remain, both sides have publicly expressed their intention to pursue peace through diplomacy. Ambassador Hasanov said 2025 has been declared Azerbaijan's "Year of Constitution and Sovereignty" and described the Washington peace agreement as a turning point for the region. He added that Azerbaijan and Armenia had jointly appealed for the closure of the OSCE Minsk Group, which had long mediated negotiations, saying the decision reflected both countries' readiness to handle talks directly. He also spoke about reconstruction in the liberated areas under Azerbaijan's Great Return Program, noting that more than 50,000 people have already resettled in newly rebuilt towns and villages. He said the development plan includes green energy infrastructure to create sustainable living conditions for returning residents. Addressing humanitarian issues, Ambassador Hasanov called for cooperation in providing accurate landmine maps and determining the fate of thousands of Azerbaijanis who went missing during earlier conflicts. He said reconciliation and coexistence would require continued goodwill and mutual confidence-building efforts. "Achieving lasting peace is not merely an act of goodwill but a duty toward all people in the region," he said, emphasizing Azerbaijan's commitment to stability and security through peaceful means. Ambassador Hasanov ended his speech on a cultural note, describing music as "a universal language that connects hearts and souls." He introduced a joint performance by Azerbaijani and Korean musicians featuring works by Uzeyir Hajibeyli, the Azerbaijani composer born in Shusha, calling the performance symbolic of peace and national revival. Guests later viewed a short film reflecting on the meaning of Victory Day, followed by the musical performance. The evening continued in a cordial atmosphere. 2025-11-07 15:30:09

At least three dead after collapse at retired power plant in Ulsan SEOUL, November 7 (AJP) - Search operations are underway at a thermal power plant in southeastern city of Ulsan on Friday, after a large structure collapsed during demolition work the previous day. Two workers were rescued shortly after the incident at the state-run utility company Korea East-West Power, while two others were found earlier in the day but pronounced dead. One victim who was found trapped under debris also died, bringing the death toll to three. They were among nine workers at the site when the incident occurred. According to rescue officials there, two workers still remain missing, while two others are trapped in the rubble and feared dead. The collapse occurred around 2 p.m. on Thursday, when a 60-meter boiler tower fell while workers were dismantling it with explosives. Most of them were reportedly employed as subcontractors for the company. 2025-11-07 15:18:52

Korean robotics sector battles Chinese and Japanese competition as it bets on AI-driven revival SEOUL, November 07 (AJP) - South Korea's industrial robotics sector is struggling to find a breakthrough as it rapidly loses home ground to Chinese and Japanese rivals and faces the risk of new tariff barriers in the United States. Responding to appeals from domestic manufacturers, the Ministry of Economy and Finance on Thursday announced provisional anti-dumping tariffs of 21.17 percent to 43.6 percent on multi-jointed industrial robots with four or more axes from China and Japan. The duties will apply for four months from Nov. 21 through March 20. The measure marks South Korea's first anti-dumping action on industrial robots in 20 years as the government seeks to shield local producers from "predatory pricing by foreign competitors." Industrial robots account for about half of Korea's 6 trillion won (4 billion dollars) robotics market. Of the country's 2,525 robotics firms, 567 focus on industrial applications, according to late-2024 government data. The duties target major manufacturers including Japan's Kawasaki Heavy Industries, Fanuc and Yaskawa Electric, as well as China's Kuka Robotics. The Trade Commission will continue investigations through March 20 before determining final tariff rates. Domestic complaints say foreign companies have been undercutting Korean products by selling 28 percent to 44 percent below market rates. One Korean firm's complaint filed in March 2024 said China's Kuka and Japan's Fanuc sold robots at steep discounts to clear inventory. Chinese and Japanese incursions into Korea's market have intensified pressure on domestic suppliers. Korean industrial robotics makers, led by HD Hyundai Robotics and Yuil Robotics, now command only 30 percent of the home market. Their position is even weaker globally, where China dominates robot installations with 54.4 percent market share, supported by prices 20 percent to 30 percent lower than Korean models and extensive state backing. Even if finalized, the anti-dumping duties offer limited relief as local firms confront a new challenge abroad. Last month, the US Commerce Department launched a Section 232 investigation into whether imports of robots, industrial machinery and medical devices threaten national security. The probe includes industrial robots and other computer-controlled mechanical systems such as stamping, cutting, welding and metalworking equipment. The department will submit recommendations to the White House within 270 days, after which the president will decide on potential tariffs. As a US ally and major supplier of industrial robots, Korea's exports are already governed under the Wassenaar Arrangement, which regulates dual-use technologies among member states. While the agreement makes security threats or improper technology transfers highly unlikely, Korean companies fear that the investigation could delay investments and affect operations. According to industry insiders, LG Electronics, LG Chem and LG Energy Solution recently submitted an opinion paper to the US Commerce Department highlighting risks to their American facilities. The companies wrote: "Robots and industrial machines are core capital goods essential to production." They added: "Applying tariffs or other import restrictions to a wide range of robots and industrial machines could result in unintended negative consequences including cost increases and reduced productivity and efficiency." Other Korean companies have submitted similar filings, including Doosan Robotics, which acquired US robotics solutions firm ONExia last July. Despite mounting challenges, industry leaders see promise in the AI-driven robotics boom. During a visit to Seoul, NVIDIA CEO Jensen Huang said Korea is best qualified to spearhead the robotics era and pledged to supply 260,000 GPUs to accelerate automation. "Robots are bringing innovation across daily life through convergence with AI, going beyond manufacturing efficiency," said Kim Jin-ho, president of the Korea Association of AI Robot Industry, during opening remarks at Robot World 2025 on Wednesday. "With the expanding role of robots in physical AI and healthcare, the golden age of robotics has arrived." 2025-11-07 14:38:32

Behind the buzz over K-Pop Demon Hunters, K-contents score meagerly this year SEOUL, November 07 (AJP) - Korean contents have enjoyed spectacular global exposure this year through major streaming platforms, but without the halo of K-Pop Demon Hunters — the rare breakout that dominated global charts — the industry can hardly claim meaningful wins amid a dearth of blockbuster titles, mounting production costs, and waning originality. The third-quarter results of CJ ENM, Korea’s largest entertainment and media group, offer a glimpse into this year’s K-drama performance. On Thursday, the company reported consolidated revenue of 1.12 trillion won ($830 million) and a modest operating profit of 17.6 billion won for the July–September period. Its media platform unit logged an operating loss of 3.3 billion won. The film and drama division returned to the black with a profit of 6.8 billion won, helped largely by additional distribution in Latin America and the Middle East. Industry data show that while Korean IP remakes overseas continue to grow — from 22 in 2020 to nearly 40 this year — profitability has narrowed as production budgets balloon and domestic platforms rely more heavily on global OTT partnerships. According to the Bank of Korea, the nation’s royalties balance swung to a deficit of $8.5 billion in September from $0.6 billion in August, reflecting rising payments for foreign IP. On the small screen, the pipeline has been thin and underwhelming. Average TV ratings for Studio Dragon — the flagship behind Queen of Tears and Castaway Diva — fell to 7.5 percent from 9.3 percent in 2023. The number of new titles achieving double-digit viewership dropped from six to three. The studio produced 19 new dramas this year, down from 31 last year and 28 in 2023. “On the surface, K-content still looks strong, but from an industrial standpoint the creative pipeline has weakened,” said Jin Lee, professor of cultural content studies at Hanyang University. “Korean studios are shifting toward co-productions with global OTTs, which help overseas expansion but reduce creative control and profit margins.” TVING, CJ ENM’s streaming arm, saw monthly active users rise 8.6 percent year on year, but its domestic market share remains below 10 percent — far behind Netflix’s 45 percent. “Consumers now watch what they want and leave,” Lee added. “For Korean platforms, sustaining loyalty and cumulative growth has become extremely difficult.” CJ ENM’s film business showed a similar pattern. Among roughly 24 theatrical releases between 2023 and 2024, only eight broke even. Mid-budget films such as Exhuma and The Escape significantly outperformed expectations. Film revenue rose 12 percent on year to 372.8 billion won, but operating margins narrowed to 1.8 percent from 3.2 percent a year earlier. Across the broader market, Korean films attracted 71 million theatergoers in 2024 — up 18 percent on year but still 46 percent below pre-COVID levels. Average terrestrial drama ratings fell to 6.7 percent this year from 8.2 percent in 2023, while cable shows excluding Queen of Tears averaged 4.9 percent, the lowest since 2020. Industry watchers cite complacency and idea fatigue for the slowdown. “Historical or fantasy series are considered safe because they ‘look Korean,’ but over-repetition risks a creativity deficit,” Lee said. CJ ENM said it will continue to deepen partnerships with global media groups while improving returns on content investment. A company official said it aims to “expand global influence through strategic collaboration” and enhance profitability across its content and platform businesses. 2025-11-07 14:31:06