Battery materials plant opens in Saemangeum complex SEOUL, October 01 (AJP) - LS-L&F Battery Solution, a joint venture between LS Corp. and battery materials maker L&F, inaugurated a precursor plant on Tuesday in the Saemangeum National Industrial Complex in Gunsan, North Jeolla Province. The 1 trillion won ($730 million) facility, spanning about 40,000 square meters, is expected to employ roughly 1,000 people, underscoring the government’s efforts to strengthen domestic supply chains in the fast-growing battery sector. The opening ceremony was attended by senior executives from LS Group and L&F, along with regional officials including North Jeolla Governor Kim Kwan-young. “This plant will be a key hub for K-battery materials, reducing reliance on China and accelerating our path to global leadership,” said LS Group Chairman Koo Ja-eun, noting that China currently controls about 80 percent of the global precursor market. The plant began trial operations in April and aims to gradually scale up production to 120,000 tons of precursor by 2029, a volume sufficient for about 1.3 million electric vehicles. LS-L&F Battery Solution was formed in October 2023 as part of LS Group’s push beyond its traditional businesses in electricity and materials into growth areas such as batteries, electric vehicles, and semiconductors. The expansion is supported by LS MnM, the group’s non-ferrous metal unit, which plans to invest 1.8 trillion won in new plants in Ulsan and Saemangeum by 2029 to produce nickel sulfate, a critical raw material for precursors. That output will feed into LLBS, which will then supply L&F for cathode manufacturing, creating what the company describes as a fully domestic battery materials value chain. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 13:55:32

South Korea's Sept exports at 3-year high and Q3 all-time high SEOUL, October 01 (AJP) - South Korea’s exports surged nearly 13 percent in September from a year earlier, extending growth for the fourth straight month on strong demand for semiconductors and automobiles, despite tariff-related setbacks in the United States. According to the Ministry of Trade, Industry and Energy, outbound shipments totaled $65.95 billion, up 12.7 percent on-year and the highest monthly tally since March 2022. For the July–September period, exports rose 6.6 percent to a record $185.03 billion, lifting cumulative shipments for the first nine months of the year by 2.2 percent to $519.78 billion. Officials noted that September gains partly reflected more working days, as the Chuseok holiday fell in the same month last year. On an average daily basis, exports slipped to $2.93 billion from $2.75 billion a year ago. Semiconductor shipments jumped 22 percent to $16.61 billion, powered by demand for AI servers and high-value memory products. Automobile exports, including electric and hybrid vehicles, gained 16.8 percent to $6.4 billion, while vessel exports climbed 22 percent to $2.89 billion, marking a seventh consecutive month of growth. Bio products and displays posted record September sales, while agricultural and cosmetic products also hit all-time highs, buoyed by the global popularity of Korean food and beauty items. By contrast, petrochemical and steel exports edged down on weak oil prices and global oversupply. Exports to the United States slipped 1.4 percent to $10.27 billion, dragged by a 2 percent fall in car sales. Shipments to China inched up 0.5 percent to $11.68 billion, ending a four-month slide, while most other regions recorded growth. Imports increased 8.2 percent to $56.39 billion, with energy purchases down 8.8 percent but non-energy imports up 12.5 percent. The monthly trade surplus widened to $9.56 billion, the largest for September since 2018. For the year to date, the surplus reached $50.47 billion, up $13.85 billion from a year earlier. “The robust trade results are meaningful, as they were achieved despite external headwinds such as U.S. trade barriers,” Trade Minister Kim Jung-kwan said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 13:48:41

Kakao rolls out 'Kakao Travel Pack' in 16 languages SEOUL, October 01 (AJP) - Kakao announced on Monday it will run a 'Kakao Travel Pack', mobility services in 16 languages, aiming at foreign visitors. The campaign aims to assist the increasing number of tourists expected due to global content popularity and the Asia-Pacific Economic Cooperation (APEC) summit. The 'Kakao Travel Pack' includes KakaoTalk, KakaoMap, and K-Ride, services popular among foreigners. KakaoTalk supports 16 languages, including English, Japanese, and Chinese, and offers free voice and video calls, local communication through open chat, and reservation services. KakaoMap provides rankings for restaurants and attractions and real-time public transport information. K-Ride, a mobility app for foreigners, supports four languages, allowing tourists to use KakaoT Blue, Venti, Black, and premium taxi services without language or payment issues. These services are available in over 30 countries, including the U.S., Japan, and Europe. To enhance accessibility, Kakao is advertising at key locations like Incheon International Airport, Myeongdong, and Seoul Station, and promoting on global social media platforms like Instagram and TikTok. This initiative responds to the growing demand for tourism. According to the Korea Tourism Organization, 15.6 million foreign tourists visited South Korea from January to August, a 15.8% increase from the previous year. The APEC summit and visa exemptions for Chinese group tourists are expected to further boost numbers. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 12:49:10

LG Elec eyes $1.8 bn Indian IPO, third largest in India for 2025 SEOUL, October 01 (AJP) - The Indian unit of South Korea’s household white-goods giant LG Electronics has set its initial public offering (IPO) price band at ₹1,108 to ₹1,140 per share, targeting up to $1.8 billion in proceeds. The listing, scheduled for Oct. 14, marks the third-largest IPO in India this year and second largest Korean IPO in the country following last year’s $3.3 billion Hyundai Motor India listing. Like Hyundai, LG’s IPO will be structured entirely as an offer for sale (OFS), with the Korean parent divesting a 15 percent stake—over 101 million shares—in its Indian subsidiary. Under the OFS format, no new equity will be issued, meaning the Indian unit itself will not receive funds from the flotation. If priced at the upper end of the band, LG Electronics India would command a valuation of over $12 billion. Proceeds will be channeled into future growth strategies at the group level, including equity investments, mergers and acquisitions, and B2B expansion aimed at bolstering long-term competitiveness. Some of the funds may also return to shareholders. India’s fast-growing home appliance market underpins LG’s confidence. Despite its 1.4 billion population, penetration of refrigerators, washing machines, and air conditioners remains relatively low, leaving substantial room for growth. Since its entry in 1997, LG has built an extensive local presence with two manufacturing bases, 51 regional offices, and more than 780 branded shops. A third factory at Sri City is underway to expand production capacity. Analysts expect LG to leverage IPO proceeds into strategic investments and partnerships, including backing promising startups and pursuing M&A opportunities, as it positions itself for the next decade of competition in India’s booming consumer market. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 11:07:52

South Korea, US agree to launch dedicated visa desk in Seoul SEOUL, October 1 (AJP) - South Korea has agreed with the U.S. to set up a dedicated visa desk at the U.S. Embassy in Seoul to streamline visa processes for South Korean companies investing in the U.S. The decision was made after the two sides met in Washington, D.C. on Tuesday for their first meeting since forming a working group to address the issue. The Ministry of Foreign Affairs here said the desk is expected to launch sometime in October, with details to be announced on the U.S. Embassy's website soon. The meeting was attended by officials from both countries' foreign, labor, and other relevant ministries, including Kevin Kim, a senior official from the U.S. State Department's Bureau of East Asian and Pacific Affairs. The U.S. clarified the activities allowed for workers under the B-1 business visa, confirming that they can apply for it to provide services including the installation and repair of equipment and devices in the U.S. The same activities are also permitted those under the Electronic System for Travel Authorization (ESTA). The clarification comes after a sweeping raid by U.S. immigration authorities, which detained more than 300 South Koreans, mostly employees of Hyundai Motor Group and LG Energy Solution, working at a joint electric vehicle battery plant under construction in Georgia, who held either ESTA or B-1/B-2 visas. Agreeing to strengthen cooperation between South Korean consulates and U.S. immigration agencies, the U.S. pledged to prevent similar incidents from happening again. South Korea stressed the need to fundamentally improve its visa-issuance process to facilitate investment and implement projects there, while the U.S. admitted legislative hurdles but pledged to come up with feasible solutions. LG Energy Solution welcomed the establishment of the dedicated visa desk, thanking the government for the swift measure. "We will thoroughly prepare and work diligently to complete the construction and operation of our U.S. plants as scheduled," the company said in a statement. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 10:12:42

[[South Korea-Japan Ties]] Seoul should forge strategic industrial alliance with Tokyo, KOTRA chief urges Editor's Note: Aju Business Daily is publishing a special series to mark the 60th anniversary of the normalization of diplomatic ties between South Korea and Japan. The series reflects on the renewed relationship between the two neighbors. SEOUL, October 1 (AJP) - "If South Korea becomes a reliable partner in Japan's major manufacturing projects including semiconductors, hydrogen, ammonia, secondary batteries, and shipbuilding, the country's competitiveness in advanced industry competitiveness can make a quantum leap," said Park Yong-min, head of the Korea Trade-Investment Promotion Agency (KOTRA)'s office in Tokyo. In an interview with Aju Business Daily on Sept. 16, he vowed, "KOTRA will be at the forefront of securing a competitive edge in exports." Park said that Japan increasingly recognizes the need to partner with South Korea amid the U.S.-China rivalry and its own focus on nurturing advanced industries. Reflecting on his career, Park said, "When I first started working in Japan about 30 years ago, there was skepticism about South Korea's technology and corporate resilience. Now, Japanese companies are actively seeking partnerships with South Korean firms." Since joining KOTRA in 1995, Park has worked in Japan, Canada, China, and the U.S.' Silicon Valley, supporting South Korean companies' global expansion. He now works in Japan, overseeing four trade offices while formulating strategies for South Korean firms seeking to expand into the Japanese market. Park explained that while the two neighbors were once competitors, they now complement each other, with South Korea focusing on manufacturing and Japan on materials and equipment. "For advanced industries to remain competitive, core technology, manufacturing, and component design must work seamlessly together, making the two countries ideal partners," he said. Japan serves as a perfect testbed for South Korean startups, offering a market 2.5 times larger than South Korea's, with geographic proximity and similar political and cultural backgrounds. Comparing Japan to Silicon Valley, he said, "While Silicon Valley teaches success, Japan is where business ideas can be turned into revenue." He highlighted promising sectors like artificial intelligence (AI), digital transformation, healthcare, and pet industries, where South Korean startups can address Japan's social issues like low birthrates and aging populations. Park cited Caplix, which launched an unmanned rental car solution in Okinawa in 2022, as an example. Caplix's facial recognition kiosks allow rental processes to be handled automatically, tackling labor shortages in Japan's aging society. Since Japan's Digital Agency was established in 2018, local governments have allocated significant budgets for digital transformation projects to address issues like automation, low birthrates, and aging populations. "KOTRA has supported South Korean startups and exporters by connecting them with local importers and helping them adapt to Japan's policy changes and relevant regulations," Park said. He emphasized that South Korea and Japan can form an effective value chain in advanced industries such as semiconductors, automobiles, batteries, and hydrogen, helping mitigate supply chain risks amid U.S.-China tensions and tariff disputes. "We are looking at sectors where South Korea and Japan can create a synergy through collaborative projects," he added. Park urged South Korean exporters to be proactive, stressing that many fail despite having high-quality products with competitive prices, due to a lack of understanding of Japan's customs procedures and distribution networks. "Without patience for lengthy administrative processes and bold local hiring and investment, success is difficult," he advised. "Now is the time to strengthen partnership as both South Korea and Japan seek new frameworks for cooperation," said Park, wrapping up the interview. "Within the broader framework of building a supply chain between the two countries, KOTRA is developing long-term projects such as expanding collaboration in research and development and forming joint ventures." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 09:44:02

MBK Partners weighs exit from Korea Zinc SEOUL, October 01 (AJP) - Facing mounting scrutiny from lawmakers and civic groups, MBK Partners is considering selling its stake in Korea Zinc, a move that could alter control of one of the world’s leading producers of nonferrous metals. A person briefed on the matter said on condition of anonymity that MBK is “reviewing its control over Korea Zinc, with an exit strategy as one option.” The stake could be transferred to Young Poong, the company’s largest shareholder, or potentially to another buyer. The review comes as MBK grapples with crises elsewhere in its portfolio. The private equity firm has faced backlash over a restructuring at Homeplus, one of South Korea’s largest retailers, and a data breach at Lotte Card. In response, it has issued a rare public apology and pledged $500 million to shore up shareholder confidence. Kim Byung-ju, MBK’s chairman and one of Asia’s most prominent private equity investors, has also been summoned by the National Assembly’s Political Affairs Committee to testify about the Homeplus case. His appearance is expected to intensify political pressure at a moment when lawmakers are seeking tighter oversight of private equity ownership in domestic companies. Industry insiders say MBK is eager to avoid a protracted dispute at Korea Zinc, which could draw further political and public scrutiny. But an exit may prove difficult: the firm is bound by a management cooperation agreement with Young Poong that carries penalty clauses for early withdrawal. Young Poong has signaled its intent to assert greater influence. “Korea Zinc does not belong to its management agent, Choi Yoon-beom,” the company said in a statement. “As the largest shareholder, we will ensure fair management.” Analysts note that MBK’s decision will serve as a test case for the balance of power between global private equity and domestic corporate governance in South Korea, where political headwinds are increasingly shaping boardroom outcomes. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 08:56:03

TRAVEL: A trip to Banguris Homestay, an authentic Malaysian experience to the core KUALA LUMPUR, October 1 (AJP) - Located in Selangor, one of Malaysia's largest states, the Sepang District is known as the Silicon Valley of Malaysia. Deeper within the district lies Banguris Homestay, a village dedicated to showing guests how real Malay people live. With around 20 government-certified houses available for homestays, visitors can enjoy naturally ventilated rooms and authentic Malaysian food. The town boasts near-zero crime rates, and most households have no fences or security measures, making for a safe yet open visit. Beyond the vast dragon fruit and palm tree plantations that cover most of the village, there's a hands-on experience center showcasing how Malay people used to live off the land. At Banguris Homestay main center, visitors can try extracting their own coffee beans the traditional way. The tour guide explains that in the old days, Malay farmers used wooden presses shaped like flat, pattern-less waffle machines to pop coffee beans from the coffee cherries. The beans are dried for a few days, then roasted to brew real coffee. Next, the experience center offers a full demonstration on how to pluck palm fruits from palm trees. Usually harvested twice a month, the fruits come in bulks of around 50 to 70 kilograms each, with poisonous spikes protruding from the stems. A seasoned worker hacks away excess palm leaves to reveal the fruit bulk, sawing it off in seconds. While dangerous to harvest, the fruit is one of the nation's major export items. Palm oil is extracted from the outer red flesh of the fruit, while the white seeds inside are used in many cosmetics. Under the shade of the trees, the tour guide gestures toward the next stop: harvesting rubber from rubber trees. Visitors can try peeling the bark off trees so rubber flows out like a stream. While only a few trees are available for simple demonstrations, actual harvesting usually begins early in the morning, as Malaysia's hot and humid air can easily spoil raw rubber. Once the liquid fills each gathering cup to the brim, it's sent to factories to harden and later processed for commercial use. Besides trying Malaysian farming methods, visitors to Banguris Homestay can also enjoy stick fishing in nearby rivers and visit cassava root factories to see how rural country folks process the sweet-smelling roots into crunchy snacks. 2025-10-01 08:50:57

Lee to hold talks with OpenAI CEO Sam Altman in Seoul SEOUL, October 1 (AJP) - President Lee Jae-myung is meeting with OpenAI CEO Sam Altman at the presidential office in Seoul on Wednesday. During the meeting, Lee is expected to seek Altman's advice on Soth Korea's strategy for transitioning to the artificial intelligence (AI) era, while encouraging collaboration with domestic companies and greater investment in the country. Lee has prioritized making South Korea one of the world's top three AI powerhouses and is actively promoting policies to foster related industries. Recently, Altman met with BlackRock CEO Larry Fink in New York, where he expressed his vision of making South Korea the AI hub of the Asia-Pacific region. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 08:24:35

[[Korea-Japan Ties]] South Korea weighs FTA with Japan amid US protectionism Editor’s Note: Aju Business Daily is publishing a special series to mark the 60th anniversary of the normalization of diplomatic ties between South Korea and Japan. The series reflects on the renewed relationship between the two neighbors. SEOUL, October 01 (AJP) - Facing growing protectionist pressures from Washington, South Korea is under increasing pressure to deepen economic ties with Japan as the two countries mark 60 years of diplomatic relations. Calls are mounting for a revival of talks on a long-stalled bilateral free trade agreement, though many in Seoul argue that joining a broader regional pact should take priority. Negotiations on a South Korea-Japan free trade deal have been frozen since 2012, hampered by decades of economic rivalry and unresolved historical issues. The debate has gained urgency after President Lee Jae Myung returned from the United Nations General Assembly in New York last month without progress on U.S. tariff disputes. South Korea’s trade minister, Yeo Han-gu, also met with U.S. Trade Representative Jamieson Greer, but the talks ended without a breakthrough. The lack of progress with Washington has prompted calls for a “Plan B.” But an FTA with Japan would not be without costs: South Korea has never recorded a trade surplus with its neighbor since relations were normalized in 1965, and over the past five years alone, it has posted a deficit of $88.6 billion. The Korea Institute for Industrial Economics and Trade has cautioned that a bilateral pact could deepen that imbalance, particularly through rising imports of automobiles, petrochemicals and electronics. Instead, many economists and officials are looking toward the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a Japan-led trade bloc that includes 12 countries such as Australia, Canada and Britain and accounts for 15 percent of global GDP. Deputy Prime Minister Koo Yoon-cheol recently said Seoul would explore membership, while Trade Minister Yeo has held talks with counterparts from Australia, New Zealand and Indonesia. Joining the pact would open South Korean exporters to markets such as Mexico, which is preparing to levy tariffs as high as 50 percent and with which Seoul has no bilateral free trade deal. Analysts say the benefits could outweigh those of a narrower Japan pact. “Evaluating the need for a South Korea-Japan FTA after joining the CPTPP is not too late,” said Jeong Seong-chun, a senior researcher at the Korea Institute for International Economic Policy. But hurdles remain steep. Domestic opposition, particularly from farmers worried about foreign competition, is strong. Membership requires unanimous consent from current members, and Japan has signaled it could use its leverage to press Seoul to resume imports of Japanese seafood — a sensitive issue tied to lingering fears over contamination from the Fukushima nuclear disaster. Still, analysts say the shifting trade environment may leave Seoul with little choice. With Washington doubling down on tariffs and supply chain controls, South Korea’s options may hinge less on resolving bilateral disputes with the United States than on securing a place in the regional trade architecture that Tokyo now leads. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-01 08:19:03