Waseda University awards honorary doctorate to LS Chairman Koo Ja-yeol SEOUL, October 19 (AJP) - Waseda University conferred an honorary doctorate in law upon Koo Ja-yeol (Christopher Koo), chairman of LS Group's board of directors, at a ceremony attended by about 100 dignitaries from academia and business circles. The award ceremony took place at 4 p.m. on Saturday at the Aizu Museum on the university's campus, with Korea University President Kim Dong-won and Waseda University President Tanaka Aiji among the distinguished guests. Koo, who joined LG International Corp. (now LX International Corp.) in 1978, served as LG Group chairman for about nine years from 2013, transforming the conglomerate into a global enterprise with over 100 operations across 25 countries. During the early 1990s, he led LG International Corp.'s Japan regional headquarters, gaining firsthand experience in Korea-Japan economic cooperation. The veteran businessman has played a pivotal role in bilateral relations, serving on the Seoul-Tokyo Forum board during periods of diplomatic tensions and facilitating regional cooperation through business summits and economic conferences. "Chairman Koo established the Korea-Japan Special Exchange Committee after assuming the chairmanship of the Korea International Trade Association, playing a crucial role in restoring economic trust between the two nations through sustained dialogue with Japanese political and business leaders," Tanaka said during the ceremony. In his acceptance speech delivered in fluent Japanese, Koo said receiving the honorary doctorate was "a deeply meaningful event that symbolizes the trust and exchanges between the two universities," adding that he felt "a sense of responsibility as it embodies expectations to become an exemplary leader for both Korea and Japan." 2025-10-19 09:16:13

KOSPI survives broad Asian stock slide U.S. bank concerns SEOUL, October 17 (AJP) - Major Asian stock markets fell across the board Friday amid renewed jitters over the financial health of U.S. regional banks. Korean shares, however, defied the trend, extending their rally to fresh record highs. The benchmark KOSPI finished nearly flat but managed to notch a new closing high of 3,748.8, supported by strong gains in battery stocks after data showed global electric vehicle sales hit an all-time high in September. EcoPro soared 27.04 percent to 73,300 won ($51.38), while LG Energy Solution added 3.21 percent to close at 434,000 won. Defense stocks retreated as optimism grew over potential cease-fire talks in Ukraine. Hanwha Aerospace slid 2.56 percent to 912,000 won, and LIG Nex1 dropped 3.15 percent to 431,000 won. Elsewhere in Asia, sentiment soured following the negative U.S. news. Japan’s Nikkei 225 lost 1.44 percent to 47,582.15, and Taiwan’s TAIEX declined 1.25 percent to 27,302.37. On the mainland, China’s Shanghai Composite Index fell 1.95 percent to 3,839.76, pressured by simultaneous declines in CPI and PPI data as well as renewed anxiety over Washington’s threat of 100-percent tariffs. Hong Kong’s Hang Seng Index also tumbled about 2.7 percent, hovering near the 25,200 level. 2025-10-17 17:11:42

Seoul mulls expanding organ donor criteria amid dire shortage SEOUL, October 17 (AJP) - Korea is considering expanding its organ donor eligibility to include patients who experience cardiac arrest after withdrawing life-sustaining treatment, joining a small group of countries that permit organ donation beyond brain-dead cases. The move comes amid an acute shortage of transplantable organs, with patients waiting an average of four years for a transplant. Whether the policy change can meaningfully ease the growing backlog remains uncertain, given Korea’s traditionally conservative views on organ donation. The Ministry of Health and Welfare on Thursday unveiled its first Comprehensive Plan for Organ Donation and Transplantation (2026–2030), which includes allowing donations from patients who have given prior consent for both the discontinuation of life-sustaining treatment and organ donation. Under the proposal, organ donation would be permitted after cardiac death—once life-support systems are removed and death is confirmed. Similar frameworks have long been implemented in the United States, the United Kingdom, and Spain. “I’ve already registered as an organ donor,” said Kim Eun-jeong, a 58-year-old travel specialist who has signed documents for both treatment withdrawal and organ donation. “But I worry that if any of my family members object when the time comes, my wish may not be honored.” In Korea, even if a patient chooses to withdraw life-sustaining treatment, the process cannot proceed if any family member opposes it. The restriction often prevents individuals from making their own end-of-life choices, fueling debate over whether family consent should outweigh personal autonomy. The government aims to raise the national organ donation registration rate from 3.6 percent in 2023 to 6 percent by 2030, and increase the number of brain-dead donors per million people from 7.8 to 11 during the same period. Yet demand continues to outpace supply. The number of patients on transplant waiting lists has surged from 43,182 in 2020 to 54,789 in 2025, while the number of donors fell from 478 to 397. On average, candidates wait four years, and as long as seven years and nine months for kidney transplants. Roughly 8.5 people die each day while waiting for an organ. 2025-10-17 17:09:27

Chinese sanctions on Hanwha Ocean could affect MASGA project, Seoul official warns SEOUL, October 17 (AJP) - South Korea’s top defense procurement official warned on Friday that recent Chinese sanctions against Hanwha Ocean’s U.S. subsidiaries could eventually hinder a joint shipbuilding initiative between Seoul and Washington. During a parliamentary audit session, Suk Jong-geon, commissioner of the Defense Acquisition Program Administration, said the Chinese sanctions could affect the Make American Shipbuilding Great Again (MASGA) project, an effort to bolster collaboration between the two allies’ naval industries. “The impact may not be immediate, but there is a potential for future disruption,” Suk told lawmakers in response to a question from Rep. Yoo Yong-won of the main opposition People Power Party. Earlier this week, China’s Ministry of Commerce announced a ban on transactions with five subsidiaries of Hanwha Ocean, including Hanwha Philadelphia Shipyard and Hanwha Shipping. The South Korean conglomerate is a key participant in MASGA, a project that gained visibility when President Lee Jae Myung visited the Philadelphia shipyard during his U.S. trip in August. Suk said that while no contracts have yet been signed under MASGA, the sanctions could complicate the procurement of specialized shipbuilding equipment from outside the United States. He added that his agency had not yet conducted a detailed assessment of possible financial losses. Rep. Yoo estimated that the sanctions could lead to losses of up to $60 million. The lawmaker also called for the swift conclusion of the Reciprocal Defense Procurement Agreement (RDP-A), which would allow South Korean firms to participate directly in U.S. government defense contracts. Suk confirmed that the agreement is awaiting approval from the White House National Security Council and emphasized that it is critical to the success of the MASGA initiative. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-17 16:33:23

Chipotle lands, In-N-Out pops up — Korea rises as test kitchen for Western tastes SEOUL, October 17 (AJP) - South Korea is fast becoming the test kitchen for Western food giants eyeing Asia. Chipotle, one of America’s leading fast-casual chains, has chosen Seoul to gauge Asian palates for its Mexican flavors, while California-based In-N-Out Burger has returned with a second pop-up event — underscoring how Western brands increasingly view Korean “Zenners” as the first benchmark to crack the regional market. Chipotle last month partnered with Korea’s SPC Group to open its first restaurants in South Korea and Singapore in 2026, marking its first Asian venture in a decade. The U.S. burrito chain, which operates more than 3,800 locations worldwide, posted $3.06 billion in second-quarter 2025 revenue, up 3 percent on year, following double-digit growth through 2024. “I’ve been waiting 13 years for Chipotle to come to Korea. Now I can finally taste the same burrito bowls I had in the U.S.,” said Jennifer, a 30-year-old Seoul resident who frequented the chain while living in California. Whether the enthusiasm can last is another question. Korean consumers are notoriously demanding and adventurous, often flying overseas purely for new dining experiences. Five Guys debuted in Seoul’s Garosu-gil in June 2023 with much fanfare, selling 30,000 burgers in its first week, but its importer Hanwha Galleria is now reportedly reviewing its partnership amid slowing sales. Shake Shack Korea, which topped global sales in 2017 after its Gangnam launch a year earlier, has also lost luster as boutique local burger brands won over customers with greater customization and freshness. That demanding market has long fascinated In-N-Out, whose pop-ups spark feverish anticipation. Its latest event on Wednesday in Seoul’s Cheongdam district — the second after 2019 — drew hours-long lines. “I tried to get an Animal-Style burger at the 2019 pop-up but couldn’t — it sold out after I waited two hours. This time I came three hours early,” said James Kim, 32. Still, both the chain and its local partners remain cautious about sustaining that buzz. Timing, experts say, is crucial. “When Taco Bell entered Korea in 2010 and 2014, the timing wasn’t right — Korean consumers had little exposure to Mexican food. But now their tastes have broadened, so Chipotle might fare differently,” said You Hyun Alex Suh of the Consumer Trend Analysis Center. Success will hinge on how fast newcomers adapt to local preferences — sometimes at the cost of brand identity. A Cinnabon Korea spokesperson said the chain drastically reduced sugar content to suit local tastes. “We had to tone down the sweetness significantly because most Koreans don’t like overly sweet desserts,” the spokesperson said. The shifting landscape mirrors a wider change across Asia’s food scene, where Korean consumers are seen as early adopters setting trends for neighboring markets while insisting on customization, quality, and health consciousness. “How well Chipotle manages to balance authenticity with adaptation will determine whether it thrives here — or ends up like others who couldn’t,” said Suh. 2025-10-17 16:30:23

Hyunmoo-5 deployment to begin by year-end amid rising North Korean ICBM threat SEOUL, October 17 (AJP) - South Korea will begin deploying its 8-ton "Hyunmoo-5" ballistic missile by the end of this year, as part of its effort to reinforce deterrence against North Korea's advancing nuclear threat. The Defense Ministry confirmed the plan to AJP on Friday, saying the Hyunmoo-5 — dubbed the "monster missile" for its unprecedented payload — has entered the operational fielding phase and is planned for mass production, with deployment set to begin by year-end. The Hyunmoo-5, an intermediate-range ballistic missile with an estimated warhead wight of eight tons, was first unveiled during last year's Armed Forces Day ceremony. The missile was designed to strike underground bunkers and command posts, as North Korea conceals much of its weapons infrastructure underground, serving as a key asset in Seoul's Korean Massive Punishment and Retaliation (KMPR) strategy — one of the three pillars of the nation's defense framework, alongside the Kill Chain and Korea Air and Missile Defense (KAMD) systems. Defense Minister Ahn Kyu-baek recently said in an interview with Yonhap that a next-generation missile system with greater range and payload capacity is also under development to reinforce what officials describe as a credible conventional deterrent against Pyongyang's growing nuclear arsenal. "The Hyunmoo-5 was designed both as a deterrent against North Korea's advancing nuclear capabilities and as a powerful means of retaliation should deterrence fail," said Shin Seung-ki, research fellow at the Korea Institute for Defense Analyses (KIDA). He added that its operational impact could be comparable to a nuclear weapon depending on how it is employed. Pyongyang recently unveiled its new Hwasong-20 intercontinental ballistic missile (ICBM) during a military parade marking the 80th anniversary of the Worker's Party, escalating concerns over its strategic reach. The new weapon is believed to be a solid-fuel, multi-stage ICBM with an estimated range of around 15,000 kilometers, potentially capable of reaching the U.S. mainland. In comparing the two systems, analysts note that Hyunmoo-5's heavier warhead weight, Mach-level speed, and bunker-penetrating design are optimized for neutralizing underground command facilities, while Hwasong-20's strength lies in strategic nuclear deterrence and long-range strike capability. "If North Korea has dug more than 100 meters to hide key command posts or important weapons systems, we now possess a weapon capable of destroying those sites," Shin said. "Just as we feel threatened by North Korea's nuclear arsenal, they can regard the Hyunmoo-5 as a comparable threat." Since North Korea currently has no ballistic-missile interception capability, there is effectively no system that can stop Hyunmoo series once launched. There was also a strategic rationale behind the decision to reveal the weapon. Systems like the Hyunmoo-5 had not been publicly displayed before, and details such as production volume and deployment schedules usually remain classified — a rare disclosure that also signals Seoul's intent to project confidence in its conventional deterrence amid escalating tensions on the peninsula. 2025-10-17 16:26:29

Exchange, brokers warn as Korea's margin loans surge nearly 50% SEOUL, October 17 (AJP) - Leveraged stock investment in South Korea has soared nearly 50 percent this year to surpass 23 trillion won ($16.4 billion), as the benchmark KOSPI’s 50-percent rally fueled aggressive borrowing for equity trades — prompting warnings from regulators and market participants. The balance of margin accounts at securities firms reached 23 trillion won, up 49 percent from 15.8 trillion won at the end of 2024, according to data released Friday by the Korea Financial Investment Association (KOFIA) and the Korea Exchange (KRX). In a joint statement, KOFIA and KRX cautioned investors about the risks of leveraged trading, emphasizing that excessive borrowing could amplify losses in the event of a market downturn. They noted a particularly sharp increase in margin borrowing among investors under 30 and over 50, raising concern about overexposure among retail investors and retirees. Margin trading allows investors to borrow funds from brokers to purchase shares, with those shares serving as collateral. If stock prices fall below maintenance levels, the collateral value erodes, triggering forced liquidations, or margin calls, at depressed prices — a process that can exacerbate market volatility. 2025-10-17 16:13:26

Lee's approval rating drops to lowest level since taking office SEOUL, October 17 (AJP) - President Lee Jae Myung's approval rating has dropped to a record low since he took office in June this year. According to a survey of over 1,000 adults conducted earlier this week by pollster Gallup Korea and released on Friday, Lee's approval rating stood at 54 percent, down one percentage point from a similar survey at the end of September. His disapproval rating also rose to 35 percent, while about 10 percent of respondents remained undecided. Most positive responses toward him were attributed to his performance in the economic and diplomatic areas, cited by 16 percent and 15 percent of respondents, respectively. However, diplomacy was also the top reason for negative ratings at 18 percent, followed by pro-China moves including temporary visa-free entry for Chinese visitors, difficulties in livelihood, authoritarian-style decisions, political wrangling, and excessive populist policies. But Lee's approval rating surpassed 50 percent in all regions except Seoul (48 percent) and the conservative stronghold of Daegu and North Gyeongsang Province (42 percent). Gwangju and the Jeolla provinces had the highest approval at 78 percent, followed by Incheon and Gyeonggi Province (56 percent). By age, support was highest among those in their 40s (74 percent) and 50s (64 percent), but fell below 50 percent among people in their 20s and those aged 70 and older. Support for the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) inched up to 39 percent and 25 percent, respectively, each rising one percentage point from the previous survey, while a whopping 28 percent of respondents said they do not support any party. Gallup analyzed that while overall ratings remained stable, the reasons for disapproval shifted slightly, adding that a set of recent measures to curb the real estate market announced earlier this week were not yet fully reflected in the latest poll. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-17 15:54:15

Korea's job growth in September hits 19-Month high, manufacturing still tepid SEOUL, October 17 (AJP) - South Korea saw the largest job addition in 19 months in September, driven mainly by service-sector hiring under government stimulus measures, while manufacturing and youth employment remained sluggish, data showed Friday. According to the Ministry of Data and Statistics, the number of employed people aged 15 and over reached 29.15 million in September, an increase of 312,000 from a year earlier. It was the largest on-year gain since February 2023, when employment rose by 329,000. The headline employment data has stayed positive throughout the year, but gains were uneven across sectors and age groups. Employment among young people aged 15 to 29 fell by 146,000, marking the steepest decline among all age groups. Workers in their 50s also continued to lose jobs for the ninth consecutive month. In contrast, those aged 60 and older added 380,700 positions, more than offsetting the declines in younger cohorts. By industry, the largest job gains were seen in health and social welfare services, which added 304,000 positions (a 10.1 percent increase), followed by arts, sports and recreational services with 75,000 (up 14.5 percent) and education services with 56,000 (up 2.9 percent). The nation’s traditional backbone sectors continued to shed workers. Construction lost 84,000 jobs (down 4.1 percent), and manufacturing contracted by 61,000 (down 1.4 percent). The agriculture, forestry and fisheries sector also saw a sharp fall, losing 146,000 jobs (down 9.1 percent). Among self-employed workers, those with employees increased by 30,000, partly reflecting government support programs such as livelihood recovery subsidies. In contrast, self-employed without employees declined by 80,000, and family workers decreased by 20,000. The number of unemployed persons stood at 635,000, up 12,000 from a year earlier, led largely by workers in their 30s to 50s. Meanwhile, the population classified as “inactive,” who have given up job hunting, increased by 42,000 (up 1.7 percent) to 2.52 million. On a brighter note, the number of inactive people aged 15 to 29 and those in their 30s fell by 34,000 and 12,000, respectively. 2025-10-17 15:36:19

INTERVIEW: K-Park in Kazakhstan's smart city embodies fortitude of ethnic Koreans — past and future SEOUL, October 17 (AJP) - The K-Park Project, rising in Kazakhstan’s flagship smart city of Alatau, encapsulates both the endurance of the Koryo-saram—descendants of Korean settlers across the Russian Far East in the 19th and early 20th centuries—and their forward-looking confidence as a thriving minority in Kazakhstan’s digital transformation drive. "K-Park is not merely a memorial project. It is a symbol of gratitude toward the Kazakh people who embraced our ancestors—and a message to the next generation: never be afraid," said Yuriy Tskhay, founder of the Caspian Group, one of Kazakhstan’s largest conglomerates with business interests spanning urban development and finance, in an interview with AJP. Tskhay, named among Kazakhstan’s 50 most influential business leaders by Forbes, described K-Park as "a collective endeavor of the entire Koryo-saram community," noting that "nearly every Korean business leader in Kazakhstan has contributed to the effort." Tskhay and the Caspian Group play a central role in the Kazakh government’s grand campaign to build Alatau, a fully digitalized and AI-powered city north of Almaty. He joined a high-level government delegation to Seoul this week to seek Korean participation and partnership in the project. The first Korean migrants crossed the Tumen River into Russian territory in 1863, with larger waves following Japan’s annexation of Korea in 1910. Neither North nor South Koreans, the community’s fate changed in 1937 when Stalin’s Soviet regime deported roughly 172,000 Koreans to Central Asia. Tskhay, himself born into one of those deported families, said the K-Park project embodies "the endurance, gratitude, and aspirations of all Koryo-saram descendants." Located within Alatau City, K-Park is envisioned as a cultural and business hub for ethnic Koreans across Eurasia. The sprawling Alatau project—spanning 880 square kilometers, roughly 1.1 times the size of Busan—involves a 25-trillion-won (about $18 billion) government investment and is designed to host 1.9 million residents and 1.1 million jobs. It will feature four major zones for industry, finance, tourism, and education. "The idea emerged when Koryo-saram leaders from different fields—culture, business, journalism—came together to create a symbolic space," Tskhay explained. "After many discussions, we agreed on a center that would blend culture and commerce, and serve as a Eurasian hub for Korean cultural industries." Ground was broken in September, with completion scheduled for 2027—coinciding with the 90th anniversary of the 1937 deportation. "When our ancestors arrived, Kazakhstan itself was struggling," said Tskhay. "Yet the Kazakh people shared their land and food. K-Park is our way of passing that gratitude on and showing how far we’ve come." More than 300 people attended the groundbreaking ceremony, which culminated in a moving rendition of the Korean folk song "Arirang," echoing across the site. "It was one of the most emotional moments of my life," Tskhay recalled. "Kazakhstan gave me the chance to study, build a business, and earn respect—it shaped who I am." A former boxer and coach, Tskhay credits his athletic background with his grit and perseverance. "When I first visited New York, the cultural shock was transformative," he said. "But my first ten years in business were brutally hard—I knew nothing beyond boxing. No one believed in my vision, but that struggle became my foundation." To younger generations, Tskhay offers a message of self-belief. "There’s no such thing as impossible. If you set a goal and work toward it daily, you’ll achieve it," he said. "My parents once told me to 'live quietly' to survive—but that era has ended. Now is the time to act, to speak, and to lead." Looking ahead, Tskhay hopes K-Park will serve as both a tribute and a springboard—connecting ethnic Koreans across borders under a shared vision. "Our ancestors focused on survival; now it’s our turn to focus on progress," he said. "K-Park should stand as a living testament—not only to the generosity of the Kazakh people, but also to the enduring spirit of the Koryo-saram." 2025-10-17 15:17:40