North Korea says it tested 'cutting-edge weapon system' SEOUL, October 23 (AJP) - North Korea has successfully test-fired hypersonic projectiles, state media reported Thursday, calling them a "new weapon system." The state-run activities are evidently aimed to continue to bolster up the war deterrent and their purpose is to strengthen self-defense," Pak said. While details about the projectiles were not disclosed, they are presumed to be short-range ballistic missiles equipped with a hypersonic glide vehicle (HGV). The North's announcement about the launch came a day after the Joint Chiefs of Staff (JCS) here said it detected the missiles around 8:10 a.m., which flew about 350 kilometers after being launched from an area south of Pyongyang. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 09:01:03

Government push for real estate watchdog stirs debate in South Korea SEOUL, October 23 (AJP) - The South Korean government is moving to create a new real estate oversight agency with investigative powers, a plan that has divided opinion among policymakers and industry experts. The Ministry of Land, Infrastructure and Transport said Thursday it is pushing for the establishment of the body under the Prime Minister’s Office to monitor illegal practices such as price manipulation, false listings, and fraudulent contracts. The proposed agency would be empowered to analyze tax, financial, and credit data to trace ownership and transaction patterns. The proposed agency is the latest in a series of measures the Lee Jae Myung administration has taken to rein in rising housing prices in Seoul and surrounding Gyeonggi areas. Supporters say the new authority could serve as a much-needed control tower, consolidating oversight now scattered among multiple government entities. They argue that clearer accountability could help restore fairness and transparency to a market often rattled by speculation and irregular trading. “Even one or two abnormal transactions can significantly distort prices in a market with limited listings,” said Nam Hyuk-woo, a researcher at Woori Bank. “A dedicated oversight body could help prevent such distortions.” Real estate agents have largely welcomed the move, saying it could help root out unlicensed brokers who often escape detection during joint inspections by the police and local governments. But critics warn that the agency could add another layer of bureaucracy and further chill an already subdued property market. “Tighter scrutiny — including recent tax audits on homes valued above 2 billion won — has already dampened buyer interest,” said one industry insider, who requested anonymity. Some academics and policy experts also questioned whether a new agency is necessary. “There is a risk that the organization will focus more on justifying its existence than achieving meaningful results,” said Lee Eun-hyung, a researcher at the Korea Construction Policy Institute. Ko Jun-seok, a professor at Yonsei University, agreed on the need to curb false listings but cautioned against overreach. “The government should coordinate with existing agencies rather than interfere excessively in market operations,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 08:43:14

Sticky points still in place in final stretch of Korea–U.S. trade deal talks SEOUL, October 23 (AJP) - “It ain’t over till it’s over,” senior Seoul officials said as they wrapped up last-mile marathon talks in Washington over a trade agreement tied to South Korea’s $350 billion investment pledge in exchange for relief from a 25 percent U.S. import levy. After a two-hour meeting with U.S. Commerce Secretary Howard Lutnick, Kim Yong-beom, policy chief to President Lee Jae-myung, told reporters, “We discussed many remaining issues and made some progress. There are only a couple of issues left, but further discussion is needed.” He declined to call the talks the “final stage,” adding, “Negotiations aren’t over until they’re over,” hinting at lingering thorny issues. Kim’s cautious tone contrasted with the optimism he expressed earlier this week when he arrived in the U.S. with Industry Minister Kim Jung-kwan, who returned to Washington in less than a week for the same purpose. Asked whether another meeting with Lutnick was planned, Kim said, “It’s difficult to meet again in person. If further discussion is needed, it might be done virtually.” He maintained hope that the two sides could reach an agreement before U.S. President Donald Trump visits Korea for the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju on Oct. 31. “APEC is an important occasion for us,” he added. Seoul and Washington agreed last July on the headline figure of a $350 billion investment commitment, under which Korea would channel that amount into U.S. projects in exchange for a reduction of tariffs on Korean automobile imports — to 15 percent from 20 percent — and relief on other sector-specific duties. But the deal has stalled as Washington demands an up-front cash payment covering most of the pledged amount — a sum equivalent to nearly 80 percent of Korea’s foreign-exchange reserves and about 16 percent of its nominal GDP in 2024. Seoul is pushing for a ten-year installment plan, committing $20 billion per year with a 5 percent cash component, citing potential shocks to the economy and exchange rate. Washington, however, is pressing for a lump-sum structure similar to Japan’s arrangement, which largely followed U.S. conditions met during Trump's four-year term. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 07:50:32

KAIST tops student survey as applications continue to climb SEOUL, October 22 (AJP) - KAIST has been ranked the top university in South Korea among respondents in their 10s to 50s, according to the 2025 INUE–Korea Economic Daily University Survey, reflecting the school's growing reputation for innovation and creative education. The university said Wednesday that 6,991 students applied for early admission to its undergraduate program for the 2026 academic year, up 7.6 percent from a year earlier. The competition rate rose from 7.98 to 1 to 8.47 to 1, marking a fourth consecutive year of increase. Compared with 2023, the number of applicants has nearly doubled. The survey also showed a clear generational divide in perceptions of higher education. While younger respondents favored KAIST as the country's best university, those in their 60s and above ranked Seoul National University highest. Despite a shrinking student population and a decline in interest in science and engineering fields, KAIST said its steady rise in applicants demonstrates continued trust in its education model and global competitiveness. Graduate programs have seen similar growth, with applications increasing by an average of 9.5 percent annually over the past four years. International applicants surged 193 percent during the same period, a trend KAIST attributes to its strong research infrastructure and global faculty. Undergraduate retention has also improved. The number of students leaving before graduation fell from 126 in the 2022 academic year to 96 in 2024, while withdrawals to enter medical or dental schools dropped from 58 to 44. "Through systems like the no-major program and the PNR grading policy, we've expanded students' freedom in choosing careers and supported the growth of creative talent," said Kim Yong-hyun, Director of Admissions. President Lee Kwang-hyung added, "The steady rise in students choosing KAIST shows that our education and research are recognized globally. Younger generations now see KAIST as the university leading future innovation." 2025-10-22 19:47:28

Türkiye and Korea mark 75 years since Turkish Brigade's arrival SEOUL, October 22 (AJP) - A ceremony was held at the War Memorial of Korea in Seoul on October 22 to mark the 75th anniversary of the Turkish Brigade's arrival during the Korean War. The event, organized by the Turkish Embassy in the Republic of Korea, commemorated the landing of Turkish troops in Busan on October 17, 1950, as part of the United Nations Command. Around 21,000 Turkish soldiers served in Korea between 1950 and 1953, with nearly 900 killed and missing, while 244 were taken prisoner. A total of 462 Turkish soldiers remain buried at the United Nations Memorial Cemetery in Busan. Col. Nesimi Kaplan, Türkiye's Defense and Army Attaché, delivered a speech titled "Turkish Brigade's Role in the Korean War," recalling key battles fought by the brigade, including Kunu-ri, Yongin, the Iron Triangle near Chorwon, and the Vegas front near Incheon. "The Turkish Brigade fought fiercely in almost all important battle grounds starting with the first battles with the Chinese troops in a small hamlet named Kunuri," he said. He described how Turkish troops came under attack at Kunu-ri in November 1950 while advancing north. "Fighting for three days and three nights, they managed to break the overwhelming enemy encirclement, delayed the Chinese advance, and allowed an organized retreat for allied troops, albeit suffering high casualties reaching nearly 15 percent of all its troops," Kaplan said. He also shared the story of Pilot First Lieutenant Ali Muzaffer Erdönmez, one of two Turkish Air Force officers dispatched to Korea. "He completed 24 successful sorties but was shot down and martyred on April 21, 1951, when his aircraft crashed as a result of enemy fire while performing a bombing mission in North Korean airspace," Kaplan said. "First Lieutenant Muzaffer Erdönmez is the only air force personnel among our martyrs in Korea." Ambassador Salih Murat Tamer emphasized that Türkiye's involvement in the Korean War helped forge a lasting partnership between the two countries. "In 1950, when the Korean Peninsula was engulfed in war, Türkiye was among the first nations to respond to the United Nations' call," he said. "Our young soldiers crossed the sea not for conquest, but to defend freedom and human dignity." Recalling the Battle of Kumyangjang-ri, the ambassador said, "In that battle, the Turkish Brigade showed extraordinary courage and dedication under siege. Their steadfast defense changed the course of the war and remains a symbol of brotherhood and resolve." Tamer added that the sacrifice of Turkish soldiers became the foundation of today's bilateral ties. "On behalf of the Republic of Türkiye, I extend our heartfelt gratitude to the government and people of the Republic of Korea for preserving the memory of our fallen soldiers with sincerity and respect," he said. "May their souls rest in eternal peace, and may the brotherhood between Türkiye and Korea continue to grow stronger for generations to come." The ceremony concluded with a moment of silence in honor of the fallen soldiers and floral tributes at the memorial. 2025-10-22 19:38:05

Koreans get serious about park golf, launching the first pro qualifying test SEOUL, October 22 (AJP) - Korea's love for golf is no secret, but the craze over its miniature, cheaper cousin turned serious this week as the nation hosted the world's first Professional Park Golf Pro Qualifying Test. The three-day competition began on Wednesday at Hanyeoul Park Golf Course in Pocheon, Gyeonggi Province, drawing 380 participants. Until just a few years ago, park golf — a hybrid between golf and croquet — was largely seen as a leisurely pastime for seniors. That perception has changed dramatically. It is now embraced across generations as an affordable, family-friendly sport enjoyed by both grandparents and grandchildren. Of the participants in the inaugural qualifying test, about 76 percent were in their 50s, while players in their 20s and 30s accounted for roughly 20 percent. According to the Korea Park Golf Association, registered membership has surged from 64,001 in 2021 to 183,788 in 2024, nearly tripling in three years. This year, the total topped 250,000, and when including unregistered players, the number is estimated to exceed half a million. "Park golf already had potential before COVID-19, but the pandemic made it explode in popularity," said Jeon Young-chang, executive vice president of the Korea Professional Park Golf Association, who opened Korea's first park golf course at Yeouido Hangang Park in Seoul. "Many golfers returning from overseas — and even regular golfers here — turned to park golf because of its lower cost and easier access. At first, people didn't take it seriously, but once they tried it, they found it incredibly fun." Originating in Hokkaido, Japan, in 1983 as part of a local park revitalization project, the sport was introduced to Korea in 2004 by Jeon. The rules are almost identical to regular golf, except players use a single mallet-like club on a shorter nine-hole course. Each hole measures up to 150 meters, compared to about 500 meters in standard golf, and a full round can be completed in about an hour. The sport's accessibility and low cost — often free or around 10,000 won ($7) for a three-hour round — have helped it expand beyond its senior base. Courses typically require no reservations and have flexible hours, making them easy for casual or spontaneous play. Younger players are also joining in. The Miss Korea Park Golf Team was launched last month to promote the sport among women and youth. "We played so well today — almost all holes-in-one," shrieked Kim Mi-sook, winner of the 38th Miss Korea title. "Many of us love outdoor activities like hiking or horseback riding, and park golf has become such a national trend that we decided to form a team." Lee Jae-won, a 27-year-old Miss Korea awardee and physical education graduate from Yonsei University, said she enjoyed the game's simplicity. "It's easy to start but has surprising depth — you really need precision and control," she said. For many, park golf has become both a hobby and a second career. Hyun Chang-min, 60, who traveled from Jeju Island to compete, said he started playing after seeing seniors on television. "It's so much fun — people say it's easier than golf, but using just one club actually makes it more challenging," he said with a laugh. Lee Jin-bok, 63, a KPGA-certified coach with three decades of experience training young golfers, also joined the qualifying test. "A friend introduced me to park golf five months ago, and I was instantly drawn to it," he said. "To establish it as a real professional sport, tournaments need to meet higher standards than amateur events. Prize money, sponsorships, and proper organization are key." Japan may have invented park golf, but Jeon believes Korea is now taking the lead. "Japan's scene has stagnated because it never produced star players — and without stars, a sport struggles to grow," he said. The inaugural Professional Park Golf Pro Qualifying Test runs through October 24. Of the 380 participants, the top 30 percent will earn professional certification and join Korea's first Professional Park Golf League, set to launch next April and run through November. 2025-10-22 19:06:46

South Korean stocks soar while other Asian markets mostly flat SEOUL, October 22 (AJP) - South Korean shares extended gains Wednesday, outperforming most Asian markets that moved flat to lower amid profit-taking. The benchmark KOSPI rose 1.56 percent to close at 3,883.68, while the KOSDAQ gained 0.76 percent to 879.15. Battery-related shares led the rally after a JP Morgan report showed global energy storage system (ESS) shipments in September jumped 105 percent year-on-year. LG Energy Solution climbed 3.09 percent to 450,500 won ($315.05), and Samsung SDI advanced 1.16 percent to 262,000 won. LG Chem surged 13.01 percent to 391,000 won after British activist fund Palliser Capital said the stock was trading at a 74 percent discount to its net asset value (NAV) — one of the steepest among major South Korean conglomerates. Hanwha Ocean jumped 9.69 percent to 132,400 won, boosted by expectations that its third-quarter operating profit will soar more than 1,000 percent from a year earlier on strong orders for high-value-added vessels. Semiconductor bellwethers Samsung Electronics and SK hynix, which have powered recent market rallies, extended modest gains. Samsung Electronics rose 0.82 percent to 98,300 won, and SK hynix added 0.52 percent to 481,500 won. On the KOSDAQ, EcoPro stood out, soaring 15.15 percent to 87,400 won. The supplier of cathode materials and precursors for secondary batteries has benefited from renewed optimism in the global EV and ESS markets. Elsewhere in Asia, Japan’s Nikkei 225 ended nearly flat, shedding 0.02 percent to close at 49,307.79 after recovering from earlier losses of 0.7 percent triggered by tech sell-offs. SoftBank Group dropped 4.9 percent to 23,700 yen ($156.15), weighed down by concerns over large-scale tech investments including its Stargate initiative. China’s Shanghai Composite Index slipped 0.07 percent to 3,913.76 as investors remained cautious amid lingering U.S.–China trade tensions. Taiwan’s TAIEX fell 0.37 percent to 27,648.91. 2025-10-22 17:15:29

Many women still endure severe stress despite expanded infertility support, study reveals SEOUL, October 22 (AJP) - Despite increased support for infertility treatments many women undergo severe physical and mental stress from repeated procedures, a new study reveals. The study, conducted by the Korea Institute for Health and Social Affairs and released on Wednesday, found that many women often suffer from serious complications such as ovarian hyperstimulation syndrome, ectopic pregnancies, and multiple pregnancies involving two or more fetuses. Multiple pregnancies, in particular, increase the risk of pre-eclampsia, diabetes, preterm birth, and other complications that can affect newborns' health. Long-term hormone therapy may also raise the risk of borderline ovarian tumors. Psychological distress was pronounced, as most respondents reported that depression and anxiety more than doubled following the procedures. Their mental health worsened with longer or more frequent treatments. Many said they felt frustrated, guilty, and socially isolated, with some even having contemplated suicidal thoughts. Despite these difficulties, only 8.3 percent had sought psychological counseling, indicating a lack of adequate support. Infertility cases in South Korea rose sharply from around 228,000 in 2020 to over 300,000 in 2023, with male infertility surpassing 100,000 last year. As of 2022, the annual number of related procedures reached 200,000 in 2022, with over 780,000 embryos created through in vitro fertilization (IVF). The government expanded support by increasing the coverage from 25 times per couple to 25 times per childbirth and also reducing out-of-pocket expenditures from 50 percent to 30 percent for women over 45. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-22 17:05:06

Unscripted diplomacy may steal the APEC Gyeongju show SEOUL, October 22 (AJP) - Last-minute agenda-setting bustle is in full swing with nine days left until the Asia-Pacific Economic Cooperation (APEC) summit brings together most-watched global leaders to the ancient city of Gyeongju, South Korea. Bets are high on a potential showdown between U.S. and Chinese leaders as stakes on the tariff war go ever higher. The stage sets the first meeting between South Korean President Lee Jae Myung and his Chinese counterpart Xi Jinping, as well as the diplomatic debut for Japan's new prime minister, Sanae Takaichi. Speculation about an impromptu encounter between U.S. President Donald Trump and North Korean leader Kim Jong-un adds to the intrigue. Unscripted diplomacy may steal this year's APEC, whose official agenda centers on trade, technology and inclusive growth. U.S.-China Summit? The biggest question heading into APEC week is whether Trump and Xi will hold their first face-to-face talks since Trump's return to the White House. Their last meeting took place in Osaka in June 2019 on the sidelines of the G20, months before trade negotiations between the two collapsed. The most recent leader-level contact came under the Biden administration at the 2023 APEC summit in San Francisco. Now, with tariff disputes dominating headlines, attention is again turning to the world's two largest economies. Chinese and U.S. officials are set to hold a high-level meeting in Malaysia this week, interpreted as groundwork for a potential Trump-Xi summit in Gyeongju. Expectations have grown as Washington signals possible movement on the issue. Trump said Monday he expected to strike a "fantastic deal" with China — describing it as a fair and reciprocal agreement similar to those recently signed with South Korea, Japan and the European Union (EU). He added that he planned to meet Xi during APEC in Korea, suggesting the summit could mark their first direct encounter in six years. Seoul's Bilateral Diplomacy with Tokyo and Beijing Working-level talks are also under way for a summit between South Korea and Japan, and discussions are ongoing for a possible meeting between South Korea and China. In Tokyo, Prime Minister Takaichi is preparing for her diplomatic debut. "South Korea is an important neighbor and a necessary partner in tackling global challenges," she said shortly after taking office, adding that she hopes to meet Lee soon. Her remarks signaled Tokyo's willingness to sustain dialogue even under a conservative administration. Still, her right-leaning cabinet has stirred unease in Seoul, where the APEC encounter is seen as the first test of a renewed bilateral relationship. Seoul's summit with China is also on the radar. Since his inauguration, Lee has met with the leaders of the U.S. and Japan but not with Xi, leaving a visible gap in his regional outreach. The upcoming APEC offers a natural venue to change that. "If Xi attends APEC but skips a summit with President Lee, that message would be enormous," said Lee Dong-gyu, a research fellow at the Asan Institute for Policy Studies. "It could be seen as Beijing deliberately distancing itself from the Lee administration. But I don't think China would want to damage the relationship to that extent." North Korea: Another Panmunjom Moment? Trump's visit to Gyeongju for APEC has reignited speculation over a possible meeting with Kim Jong-un. The memory of their impromptu handshake at Panmunjom in 2019 — arranged in less than 32 hours after Trump tweeted his willingness to meet Kim — continues to fuel rumors of another "surprise summit," though experts remain largely skeptical. Yoshihiro Makino, visiting professor at Hiroshima University, said the 2019 encounter was preceded by months of quiet coordination between Washington and Pyongyang, something absent this time. "There is no visible preparation, no working-level contact, no back channel between the two countries," he said. "If it happens, it would be purely a surprise encounter — nothing more, nothing less." Still, many agree that Trump's unpredictability makes such speculation impossible to dismiss entirely. Meanwhile, North Korea made sure it remains in the picture by firing multiple short-range ballistic missiles on Wednesday – its first launch since Lee took office in June and the first in about five months. The launch, coming just days before the APEC summit, appeared aimed at gaining diplomatic leverage. AJP contacted the White House to confirm whether a Trump-Kim encounter was discussed or included in the president's APEC schedule but has not yet received a response. Beyond the headline meetings, APEC's sidelines are expected to be packed. South Korea is arranging talks with Indonesia and Vietnam on supply-chain and artificial intelligence cooperation, with more diplomatic engagements expected throughout the week. 2025-10-22 16:33:01

INTERVIEW: Solana pivots to Korea as key APAC blockchain hub SEOUL, October 22 (AJP) - A passionate crypto community backed by financial stability and regulatory transparency rarely found across Asia-Pacific makes South Korea a key strategic focus for Solana, one of the world’s top five blockchain platforms, according to its regional head. "For us, South Korea within APAC is definitely one of our key strategic focus areas," said Alex Scott, head of Solana Middle East, in an exclusive interview with AJP during the Expand North Star event in Dubai last week. "The country combines strong financial institutions, clear regulations, and a passionate community of builders. Our focus is on connecting young startups with established institutions to strengthen the overall ecosystem." Hosted by the Dubai Chamber of Digital Economy, the event is one of the world’s largest tech and startup gatherings, bringing together blockchain innovators and investors from more than 100 countries. Alongside Ethereum, Solana ranks among the most widely used blockchain networks globally, supporting a wide range of digital services — from finance and gaming to enterprise technology — through its fast, low-cost system and native cryptocurrency, SOL. Scott described Korea as "one of the world’s most active crypto markets by participation and volume, with a strong developer base and a vibrant community." He highlighted programs such as the Seoulana Hackathon and Startup Village Seoul as examples of Korea’s creativity and innovation. "It’s where we consistently see outsized energy," he said, calling the country both "a demand center and a testbed for innovation." Scott said Solana’s strategy for Korea over the next 18 months focuses on four main pillars. The first is expanding the real-world use of stablecoins — digital currencies linked to fiat money such as the Korean won or the U.S. dollar. "We’re running proof-of-concept projects with local partners to test QR payments, remittances, and cash-in or cash-out services, while keeping regulations front and center," he said. "One pilot project is helping stores accept stablecoin payments so people can actually spend or withdraw digital money in Korea." He noted that Korea’s won-based stablecoin already leads the Asia-Pacific market, reflecting the country’s growing strength in digital finance. "Korea can be the proving ground for stablecoin utility in Asia," he added. "It has dense merchant networks, powerful super-apps that can scale services overnight, and advanced banks willing to design new payment systems — as long as regulation is built in from day one." The second pillar involves partnerships with financial institutions and tokenization, a process that turns traditional assets such as funds or ETFs into digital tokens that can be traded more efficiently. "We’re working with major financial institutions on tokenized funds and ETF-related products," Scott said. "We help them build the right infrastructure — from secure digital wallets to compliance tools — so they can operate safely and at scale." He cited a new partnership with Shinhan Investment Corp., one of Korea’s largest financial groups. "Through that partnership, we’re expanding Korea’s digital asset ecosystem and bringing more real-world assets onto the blockchain," he said. Solana is also collaborating with asset managers and brokers to develop tokenized funds and secure wallets with built-in KYC and AML systems to protect investors. The third focus area is nurturing Korea’s developer ecosystem. Solana is investing in hackathons, research grants, and training programs to foster what Scott calls a "Korea-first" generation of applications. "These include new tools in finance, CeDeFi — combining centralized and decentralized finance — and creative industries," he said. "These efforts not only attract young developers but also help connect startups with large companies, creating a continuous cycle of innovation between individuals and institutions." The final pillar centers on policy and regulation, ensuring that all Solana projects align with Korea’s evolving digital asset framework. "We’re closely following Korea’s policy framework for stablecoins and digital assets to make sure every project aligns with future regulations rather than operating in isolation," Scott said. "We expect rules around KRW-based stablecoins to advance quickly." He praised Korea’s open approach to innovation, adding, "Korea combines technical talent, strong financial institutions, and a forward-looking regulatory mindset. It’s where we can show the world what digital assets can actually do in real life — not just in theory." Looking beyond Korea, Scott said Solana sees the most promising opportunities across Asia’s finance, gaming, and digital infrastructure sectors. "In finance, stablecoin payments and cross-border transfers are the fastest ways to attract daily users, and that’s where Solana’s speed and low costs make a difference," he said. "In gaming and the creator economy, small digital payments and automatic rewards — for watching, creating, or trading — fit perfectly with Korea and Japan’s strong content industries. And in infrastructure, better wallet systems and secure digital networks for banks and brokers will open the door to larger institutional participation." He noted that Singapore’s blockchain market is driven mainly by institutions with clear licensing, while Japan focuses on gaming and creative industries supported by new Web3 policies. "Korea," he said, "sits between the two — with strong financial players, active users, and an ecosystem ready to lead Asia’s next wave of blockchain innovation." 2025-10-22 16:00:06