Lee departs for Malaysia to attend ASEAN summit SEOUL, October 26 (AJP) - President Lee Jae-myung left for Kuala Lumpur on Saturday to attend the Association of Southeast Asian Nations (ASEAN) summit. Lee, accompanied by First Lady Kim Hye-kyung, departed for a two-day visit on Saturday morning, according to the presidential office. Upon arrival, he will attend a dinner meeting with Korean residents in Malaysia to hear their concerns, including the rise in online scam cases affecting Koreans in Southeast Asia. On Monday, Lee will hold a bilateral summit with Cambodian Prime Minister Hun Manet to discuss ways to deepen their strategic partnership and strengthen cooperation against cyber and online crime. He will then attend the Korea-ASEAN Summit, where he is expected to present a vision for advancing the Comprehensive Strategic Partnership between South Korea and ASEAN. Lee will also take part in the ASEAN+3 Summit with China and Japan to discuss regional issues such as energy security and supply chain resilience, and explore ways to enhance trilateral cooperation through ASEAN. Later in the day, he will meet with Malaysian Prime Minister Anwar Ibrahim, this year’s ASEAN chair, to discuss expanding cooperation in trade, investment, infrastructure, and defense. After completing his visit, Lee will return home to prepare for the Asia-Pacific Economic Cooperation (APEC) summit to be held in Gyeongju from Wednesday to Friday. 2025-10-26 11:45:52

Viet Nam highlights its active role in APEC and close partnership with South Korea SEOUL, October 26 (AJP) - The Embassy of Viet Nam in Seoul reaffirmed Viet Nam's active and responsible participation in the Asia-Pacific Economic Cooperation (APEC) forum and underlined the country's strong cooperative ties with South Korea ahead of the APEC Economic Leaders' Meeting in Gyeongju. "Since joining APEC in 1998, Viet Nam has made active and responsible contributions to the forum, promoting peace, stability, cooperation, and regional economic integration," the embassy said in a statement. It noted that Viet Nam has helped maintain APEC's position as the region's leading mechanism for economic cooperation. Viet Nam is one of the few members to have successfully hosted APEC twice, in 2006 and 2017, and has been selected to host again in 2027. The embassy pointed out that Viet Nam has also taken on several important roles within APEC, including Executive Director of the APEC Secretariat from 2005 to 2006, as well as chairing and vice-chairing various key committees and working groups. Viet Nam currently leads the task force developing APEC's structural reform agenda for 2026 to 2030. "In every role, Viet Nam has shown a spirit of responsibility and remains one of the most active members in proposing and promoting APEC programs and initiatives," the statement said. It added that Viet Nam has proposed more than 150 cooperation projects across a wide range of areas, many of which have been highly regarded by member economies. Among the most notable achievements is Viet Nam's initiative to develop the APEC Vision 2040 and its accompanying action plan, which were adopted by APEC leaders at the 25th APEC Summit held in Da Nang in November 2017. The embassy also cited Viet Nam's proposals on green and sustainable growth, cooperation to address climate change, inclusive growth with support for small and medium-sized enterprises, and the introduction of the "Gender Inclusion Guidelines" to incorporate gender equity into all APEC policies and programs. The embassy said President Luong Cuong will attend and deliver remarks at the upcoming APEC Economic Leaders' Meeting and the APEC CEO Summit in Gyeongju, where he will present specific proposals to strengthen cooperation among member economies and respond to fast-changing global and regional developments. Viet Nam is actively preparing to host APEC in 2027. On July 28, the Vietnamese government held a ceremony to announce the establishment of the National Committee on APEC 2027, assigning ministries such as the Ministry of Foreign Affairs and the Ministry of Industry and Trade to take the lead in developing the theme, priorities, and core ideas for the event. Prime Minister Pham Minh Chinh emphasized five guiding principles for APEC 2027: promoting cooperation among APEC members; fostering innovation and creativity; enhancing unity, determination, and responsibility among government agencies and local authorities; encouraging participation from APEC members, the public, and the business community; and ensuring that the outcomes of the meetings contribute to each economy's growth and development. According to the embassy, Viet Nam's position and role have continued to rise as the country maintains strong political stability, pursues reform, and deepens integration with the global economy. Viet Nam's economy grew by 7.1 percent in 2024 and by 7.52 percent in the first half of 2025. The government has streamlined administrative structures, advanced institutional reforms, and strengthened participation in international cooperation frameworks. The embassy described Viet Nam–South Korea relations as one of the model partnerships within APEC. Since establishing diplomatic relations in 1992, the two countries have made remarkable progress, continuously upgrading their relationship to reach the level of a comprehensive strategic partnership — the highest tier in Viet Nam's diplomatic system. The statement noted that the top leaders of both countries have maintained regular exchanges to further enhance cooperation. Recently, the General Secretary of the Communist Party of Viet Nam, the country's highest leader, visited South Korea and held talks with President Lee Jae Myung. The two sides discussed a wide range of issues and agreed to strengthen political trust and expand comprehensive and practical cooperation across all sectors and international forums. Within APEC, Viet Nam and South Korea have worked closely together, sharing experiences in organizing and coordinating APEC cooperation initiatives. On the occasion of President Luong Cuong's visit to attend the APEC Summit in Gyeongju, the embassy said the two countries should continue to strengthen collaboration, with South Korea supporting Viet Nam's initiatives in APEC and holding high-level bilateral discussions to further advance their comprehensive strategic partnership. 2025-10-26 08:43:34

Geologist says Pohang earthquake was man-made, triggered by geothermal fluid injection SEOUL, October 24 (AJP) - The 2017 Pohang earthquake was a man-made disaster caused by fluid injection at a geothermal power plant, according to Kim Kwang-hee, professor of geological and environmental sciences at Pusan National University. Speaking at the policy forum "Pohang, Asking Again: Accountability and Prevention of Recurrence" held at the National Assembly Members’ Office Building in Seoul on October 23, Kim said the quake was an induced seismic event, not a natural one. "The Pohang earthquake was an induced event caused by fluid injection at a geothermal power plant," he said. Kim explained that from 2016 to 2017, tens of thousands of tons of water were injected roughly four kilometers underground. Soon after, the number of small tremors around the plant rose sharply. "The fluid raised pressure along the fault, disturbed stress balance, and eventually triggered the main shock with a magnitude of 5.4," he said. He noted that there had been almost no prior seismic activity near the site, a key sign the quake was not natural. "If it had been a natural event, we would have observed recurring seismic activity before the main quake," he said. "Instead, almost no earthquakes occurred before the injections began, and afterward, clusters of microearthquakes appeared. That’s a clear sign of causation." Kim outlined the sequence leading up to the main shock: drilling and fluid injection, a spike in microearthquakes, accumulation of fault stress, and finally, rupture. "When the fluid reduced friction on the fault surface and the accumulated stress passed its critical point, the fault ruptured," he said. The epicenter, he added, was located only about 600 meters from the injection well — a distance he said "supports this geological explanation." He criticized the plant operator for continuing operations despite warning signs. "Even though microearthquakes repeatedly occurred during fluid injection, operations were not suspended, and there was no real-time monitoring system in place," Kim said. "Failing to act on such warning signs clearly shows poor management." While emphasizing that geothermal energy remains a vital renewable source in the age of climate change, Kim cautioned that safety must come first. He called for mandatory real-time seismic monitoring and emergency shutdown procedures in future projects. "The Pohang case reminds us that technology and safety must progress together," he said. 2025-10-24 17:30:05

Experts urge easing proof standards, turning Pohang's quake legacy into a cultural asset SEOUL, October 24 (AJP) - Legal and academic experts called for fairer compensation standards and stronger accountability in the long-running case over the 2017 Pohang earthquake, saying South Korea must rebuild public trust while preventing similar disasters. The discussion took place on October 23 at the National Assembly Members’ Office Building in Yeouido, where the "Pohang Earthquake Damage Policy Seminar" gathered lawyers, professors, and local representatives. Panelists included Shin Eun-joo, professor of law at Handong Global University; Kim Eun-joo, Pohang City Council member; attorneys Gong Dae-ho and Kim Bu-jo; and Ha Dong-ho, professor at Konkuk University and president of the Korean Society of Earthquake Engineering. The 2017 quake, measuring magnitude 5.4, struck the city’s northwestern area, followed by a 4.6 aftershock in early 2018. It left about 2,000 people displaced and caused an estimated 84.57 billion won, or roughly 58.8 million dollars, in property losses. In 2018, residents filed a damages suit against the government, claiming the quake had been induced by geothermal energy testing. The first trial partly acknowledged the state’s responsibility, but the appeals court overturned the decision, citing a lack of scientific proof. Attorney Gong Dae-ho criticized the strict standard of proof applied to the case. "In environmental or medical lawsuits, courts often ease the burden of proof because causation is difficult to establish," he said. "Even with expert reports and findings from the Board of Audit and Inspection, the court dismissed the state’s responsibility for lack of evidence. When the state leads a project, the standard should be more flexible to reflect the imbalance between the parties." He warned that the judiciary must avoid treating such cases as technical disputes. "The Supreme Court’s decision will set a precedent for how government responsibility is judged in future disasters," he said. "The court should approach this issue with the public’s perspective in mind." Attorney Kim Bu-jo said the appellate court narrowly interpreted public officials’ duty of care, allowing the state to evade accountability. "The ruling said there was no clear violation of duty, even though proper oversight could have prevented the damage," he said. "Applying such rigid proof standards in cases between citizens and the government goes against the spirit of justice and erodes public confidence." Professor Shin Eun-joo said the court applied criminal-level standards to a civil case. "Civil cases require a lower threshold of proof," she said. "Judges should not mechanically apply the law but assess whether it makes sense in context. Sometimes, fairness requires easing the evidentiary burden." Beyond the courtroom, experts also raised concerns over South Korea’s limited technical capacity for disaster prevention. Professor Ha Dong-ho noted that the country still lacks enough field engineers specializing in seismic design. "There’s a serious shortage of engineers with practical experience in earthquake-resistant technology," he said. "Most of the training is available only at the graduate level. The government and private sector need to support these professionals rather than relying on them without fair compensation." The discussion also turned to how the city might transform its painful experience into a learning and tourism resource. Council member Kim Eun-joo said countries such as New Zealand, Japan, and Taiwan have turned post-quake recovery into educational and cultural opportunities. "New Zealand operates earthquake museums and safety experience centers that turn painful memories into assets for the community," she said. Kim said Pohang is collecting residents’ stories, photos, and records to build a public archive. "The city is making efforts to ensure that the earthquake is remembered and that its lessons continue to shape Pohang’s future," she said. 2025-10-24 17:16:42

East Asian markets upbeat before Trump's arrival next week SEOUL, October 24 (AJP) - Asian markets ended mostly higher Friday on optimism surrounding U.S. President Donald Trump’s upcoming Asian tour, which includes back-to-back summits with leaders of South Korea, China, and Japan. In Seoul, the KOSPI climbed 2.0 percent to close at 3,921.52, reclaiming the 3,900 threshold as chip bellwethers Samsung Electronics and SK hynix extended gains. Japan’s Nikkei 225 advanced 1.3 percent to 49,282.19, supported by expectations of renewed fiscal stimulus from Tokyo. Hong Kong’s Hang Seng Index added 0.7 percent to 25,967.98, buoyed by strength in property and industrial shares. China’s Shanghai Composite Index edged up 0.2 percent to 3,922.41, as investors looked past lingering concerns about U.S. export curbs on advanced chip technology. Elsewhere in Asia, sentiment was more mixed. In India, both benchmarks eased — the BSE Sensex slipped 0.3 percent to 84,301, and the NSE Nifty 50 fell 0.3 percent to 25,817 — weighed down by weakness in banking and FMCG stocks such as Hindustan Unilever and Kotak Bank. Traders cited anxiety over a possible new U.S. trade probe into China and rising crude prices that could stoke inflation. In Southeast Asia, Indonesia’s Jakarta Composite Index gained 0.5 percent to 8,312.57, driven by foreign buying in mining and consumer shares. Malaysia’s KLCI inched up 0.2 percent to 1,611.53, reversing early losses as bargain hunters supported industrial and utility counters. Singapore’s Straits Times Index rose 0.5 percent to 4,416.27. Taiwan’s TAIEX eased 0.4 percent to 24,388.21 on mild profit-taking in chipmakers, while Vietnam’s VN-Index continued its ascent, adding 0.8 percent to 969.2, led by property developers. 2025-10-24 16:54:22

Rare freshwater fish returns to life in Seoul's Cheonggyecheon Stream SEOUL, October 24 (AJP) - Cheonggyecheon has run through the heart of Seoul for more than six centuries — once a bustling stream in the old market district during the Joseon Dynasty, later entombed beneath concrete as the city modernized. Since its restoration in 2005, the waterway has evolved from a civic project into a living symbol of ecological renewal — proof that nature, when given room and care, can return even to the center of a metropolis. Nearly 20 years on, scientists have confirmed the presence of swiri (Coreoleuciscus splendidus), a rare freshwater fish native only to the Korean Peninsula and known to inhabit clean, fast-flowing streams. Its discovery, announced by the National Science Museum, underscores how far Cheonggyecheon's ecosystem has come since its rebirth. "It was both surprising and delightful to find swiri in Cheonggyecheon," said Dr. Hong Yang-ki of the National Science Museum. "This fish survives only in pristine, swiftly moving waters — so its presence shows that the stream's water quality has been consistently well maintained." The museum's survey covered six sites along the stream, from Cheonggye Plaza to its confluence with the Jungnangcheon River, revisiting the exact locations studied two decades ago. Earlier monitoring ended in 2019, but this year's findings revealed striking biodiversity gains — from bitterling and chub to endemic Korean species such as Rhodeus uyekii and Zacco koreanus. Before restoration began in 2003, Cheonggyecheon supported only a handful of pollution-tolerant fish like carp and mudfish. Today, its clear waters sustain a balanced ecosystem of species adapted to varying flow speeds and habitats. This year's findings marked a milestone: "We discovered newly hatched juvenile swiri for the first time since restoration," Dr. Hong said. "It means they're not just surviving, but breeding naturally within Cheonggyecheon itself." Researchers plan to conduct seasonal follow-up surveys and share results with Seoul City to shape long-term conservation strategies. Once buried beneath a highway overpass, Cheonggyecheon now hums again with the quiet pulse of life — a reminder that even in a city of ten million, nature can still find its way home. 2025-10-24 16:54:10

HOT STOCK: Korea's battery stocks going up, up, up — but analysts warn against chasing golden moment SEOUL, October 24 (AJP) - South Korea’s secondary battery shares are leading Seoul’s tech-driven rally, fueled by stronger electric vehicle (EV) sales and booming demand for energy storage systems (ESS). As of 3:15 p.m. Friday, Ecopro jumped 5.6 percent to 85,100 won ($59), extending its surge amid renewed optimism in the battery sector. LG Energy Solution rose 4.8 percent to 465,500 won, supported by sustained institutional buying across major battery makers. Isu Chemical soared by the KOSDAQ’s daily limit of 30 percent to 12,690 won, emerging as one of the index’s top performers on heavy speculative trading. The rally is powered by multiple tailwinds. Global EV sales hit a record 2.1 million units last month — up 26 percent year-on-year — beating market expectations and restoring confidence. Meanwhile, ESS demand tied to AI infrastructure has become a major growth driver. Analysts estimate U.S. installations could reach 120 GWh, growing 25 percent annually, as AI data centers require massive batteries to stabilize power use — with ESS margins often higher than those of EV batteries. Adding to the hype, China’s Chery unveiled a 600 Wh/kg solid-state battery prototype on Oct. 18 — nearly double the current lithium-ion density — targeting commercialization by 2027. That lifted sentiment toward Korean suppliers in the solid-state supply chain. Short covering has further amplified gains, with L&F’s short interest reaching 25 percent of float, triggering forced buying. But beneath the euphoria, structural weaknesses persist. Korean battery makers’ utilization rates remain at 40–50 percent, far below the 90 percent achieved by China’s CATL and BYD. Their heavy bet on high-end NCM batteries backfired as Chinese rivals dominated the mass market with cheaper LFP technology. As a result, Korea’s global market share slipped to 16.4 percent in the first half of 2025, down 5.4 points year-on-year, while Chinese firms seized 49.7 percent in Europe — overtaking Korea for the first time. The slowdown has shown in earnings. LG Energy Solution’s operating profit plunged 73.4 percent in 2024, ending with a $430 million Q4 net loss. Samsung SDI posted its first quarterly deficit in seven years, prompting a 2 trillion-won rights issue, while SK On initiated workforce restructuring. The elimination of U.S. EV tax credits adds another headwind, echoing Europe’s experience — where EV sales fell 27.4 percent in Germany and 15.9 percent in Sweden after subsidy cuts. Analysts now warn against chasing the golden moment. Shinhan Investment Securities described the surge as “rotation-driven rather than earnings-led.” Yuanta Securities’ Han Byung-hwa — famed for predicting the 2019 biotech crash — cautioned that battery-material valuations are “a bubble with no other way to describe it,” with price-to-sales ratios averaging 9.9× versus 1.1× for cell makers. The three Ecopro affiliates now account for 16 percent of total KOSDAQ market capitalization, up from 4 percent at the start of the year. LS Securities’ Jung Kyung-hee noted that “while investor interest in battery stocks is surging alongside the KOSPI rally, demand growth is slowing.” She added that Korean firms remain overvalued relative to global peers, with EV recovery still fragile and China-centric — leaving much of the upside likely to flow to Chinese suppliers expanding aggressively in Europe. 2025-10-24 16:53:47

HOT STOCK: Korean refiners rally on Russia sanctions, petrochemicals join ride SEOUL, October 24 (AJP) - South Korean refinery shares surged Friday as oil prices spiked following U.S. sanctions on Russia’s top refiners, Rosneft and Lukoil, elevating petrochemical sector long weighed down by overcapacity and an industrial slowdown. SK innovation, the market leader, jumped 7.6 percent to 133,900 won ($93.2), while S-Oil gained 2.5 percent to about 74,900 won. The rally followed a sharp climb in West Texas Intermediate (WTI) and Brent crude prices after Washington’s move against Moscow’s oil giants. With Russia ranking as the world’s No. 3 producer after the U.S. and Saudi Arabia, any restriction on its exports threatens to tighten global supply and push prices higher. Rising crude prices typically widen refining margins, improving profitability for refiners. This time, momentum also extended to petrochemical stocks, as higher feedstock costs tend to raise product prices. LG Chem hit a fresh high of 401,000 won after climbing 3 percent intraday, while smaller ISU Chemical soared by the daily limit for three straight sessions — leaping to 12,400 won from 5,850 won a week earlier. Refiners are broadly expected to report stronger third-quarter earnings. According to Yuanta Securities Korea analyst Hwang Kyu-won, SK innovation is likely to swing back to profit in the third quarter. “Dubai crude prices rose by more than $3 a barrel, which appears to have boosted refinery margins,” Hwang said. Consensus data from FnGuide projects SK innovation’s Q3 operating profit at about 201.8 billion won, driven mainly by its refining business. S-Oil is also expected to return to profit this quarter. Hanwha Investment & Securities analyst Lee Yong-wook forecast operating profit of 274.3 billion won, noting that “refining-segment profit is projected to reach 144 billion won, marking a sharp rebound from a 440 billion won loss in the previous quarter.” Despite rising competition from Chinese refiners, Korea’s oil refining industry remains among the world’s most competitive. In jet fuel alone, the country’s “Big Four” — SK innovation, S-Oil, HD Hyundai Oilbank, and GS Caltex — command roughly 30 percent of global market share, a position they have held for several years. Most analysts agree that Korean refiners tend to benefit whenever concerns mount over tighter oil supply — and Friday’s rally offered a timely reminder. 2025-10-24 16:53:30

D-7: Korean Inc. to indulge APEC guests with latest innovations SEOUL, October 24 (AJP) - A drone gala will light up the night sky and hydrogen-powered limousines will shuttle guests who can try out the world's first tri-fold smartphones. K-Pop Demon Hunters-themed snacks and K-beauty items will be everywhere. All things Korean — now globally adored — will fill the APEC venue in Gyeongju next week as Korean Inc. flaunts its latest innovations and hottest creations. From semiconductor titans to clean-energy pioneers, this year's APEC in Korea will bring together some 1,700 CEOs and executives from 21 economies. While trade talks between the U.S. and China are likely to dominate headlines, businesses are preparing to capitalize on the gathering in one of the world's most digital-savvy, high-tech manufacturing hubs. Hosted by the Korea Chamber of Commerce and Industry (KCCI), the APEC CEO Summit runs from Oct. 28 to 31 under the slogan "Bridge, Business, Beyond." It serves as the region's premier platform for industry diplomacy — where innovation and investment often move faster than politics. Who's coming, what's on the table NVIDIA CEO Jensen Huang, making his first official visit to Korea in 15 years, will deliver a keynote on Oct. 31, sharing his outlook for artificial intelligence and robotics. He is expected to meet Samsung Electronics Chairman Lee Jae-young and SK Group Chairman Chey Tae-won to discuss cooperation on high-bandwidth memory and AI chips. SoftBank's Masayoshi Son is also expected, though not yet confirmed. His attendance could advance talks on large-scale AI infrastructure and investment. Huang and Chey have been collaborating on the StarGate Project — a mega-scale AI alliance linking SK Group, NVIDIA, SoftBank, and OpenAI. If schedules align, Gyeongju could see a rare three-way meeting among Huang, Chey, and Son. Top executives from Google, Microsoft, Amazon, Meta, Citigroup, J.P. Morgan, Johnson & Johnson, and international bodies such as the OECD, World Bank, and Asian Development Bank will also attend. Korean conglomerates step up For South Korea's major groups, APEC doubles as both a business fair and a showcase of soft power. Hanwha Group will stage a massive fireworks-and-drone gala over Bomun Lake on Oct. 31, featuring 50,000 fireworks and 2,000 drones. Hyundai Motor Group will provide 192 official vehicles, including hydrogen-powered buses and Genesis sedans, for visiting leaders. LG Group is running global APEC ad campaigns across Seoul, New York, and London, while LG Uplus handles on-site telecom networks. Lotte Group oversees hotels, catering, and cruise lodging. Samsung Electronics plans to unveil its new tri-fold smartphone, underscoring next-generation display leadership, and SK Group will host the FutureTech Forum AI, where Chey Tae-won will present Korea's AI ecosystem strategy. According to organizers, 66 Korean companies are sponsoring or supporting the summit. Local small and mid-sized firms from North Gyeongsang Province will showcase homegrown foods and beverages at the APEC Economic Exhibition Hall — a once-in-a-lifetime chance to pitch to global buyers on home turf. APEC boost: who stands to gain Sectors tied to semiconductors, batteries, and infrastructure stand to benefit directly from APEC momentum. Discussions on AI and data infrastructure are expected to favor SK hynix and Samsung Electronics, key suppliers to global cloud firms. SK hynix shares have jumped 41.5 percent over the past month — from 357,500 won ($260) to 506,000 won ($367) — while Samsung Electronics gained 15.8 percent, from 85,400 won ($62) to 98,900 won ($72). Hyundai Motor and Kia rose 16 percent and 11 percent respectively in the same period, buoyed by expectations of clean-mobility and hydrogen cooperation. According to KCCI and Deloitte, the APEC events could generate an economic impact of 7.4 trillion won ($5.3 billion) and create about 22,000 new jobs — leaving a long-term mark on both Korea's global business diplomacy and its innovation brand. 2025-10-24 16:49:33

Seoul gears up for Halloween with safety measures SEOUL, October 24 (AJP) - The Seoul Metropolitan Government said Friday that several safety measures have been implemented in about a dozen areas in the capital, ahead of Halloween later this month. Under the measures effective until Nov. 2, district officials, police, and firefighters in coordination with the Ministry of the Interior and Safety will carry out patrols, inspections, and traffic control in Seoul's entertainment district of Itaewon, trendy alleys around Hongik University, and other popular hip streets in Gangnam and Seongsu-dong. Emergency hotlines, temporary shelters, and other facilities will be set up to ensure safety and respond immediately to any urgent situations or accidents. Medical personnel will be stationed throughout the areas, with ambulances on standby. Starting this weekend, hundreds of safety personnel and other officials will be deployed to manage crowds and monitor density levels to prevent accidents. The latest measures come after the 2022 Halloween stampede tragedy, in which 159 people, mostly young, died in a crowd crush. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 16:48:39