South Korea, Italy reaffirm economic ties as 'complementary commons' SEOUL, September 5 (AJP) - South Korea and Italy reaffirmed their commitment to strengthening bilateral economic cooperation at the first business forum in Seoul on Friday, with a focus on advanced technology as both countries face resource constraints and aging populations. The forum, co-hosted by the Italian Embassy in South Korea, the Italian Trade Agency (ITA), the Italian Ministry of Foreign Affairs and International Cooperation, and the Federation of Korean Industries (FKI), along with Confindustria, the General Confederation of Italian Industry, brought together more than 300 representatives from both countries, including government officials and business leaders from the manufacturing, energy, and technology sectors. Italian Ambassador to South Korea Emilia Gatto opened the event, highlighting that around 80 Italian companies and 150 Korean companies had gathered, stressing that the two nations are not only strong trade partners but are also increasingly cooperating in innovation and research. She said, "This event marks the beginning of a new chapter in economic relations, grounded in the dynamism and innovative capabilities of both countries." South Korea's Deputy Trade Minister Park Jong-won emphasized that the two countries share a history of overcoming resource constraints through industrial innovation. He said, "Since the establishment of diplomatic ties in 1884, our two countries have deepened our engagement in politics, economy, culture, and people-to-people exchanges. As peninsular nations with limited resources, both countries have achieved significant growth by overcoming historic hardships and challenges." Italian Vice Minister of Enterprises and Made in Italy Valentino Valentini echoed these views, saying that South Korea and Italy face similar challenges as resource-limited economies with aging populations. He asked attendees, "Are we competitors or are we complementary commons?" He added, "Our industrial system generates 1.5 trillion euros ($1.75 trillion) in turnover, with SMEs contributing 45 percent to national exports. This flexibility needs to integrate the digital revolution and AI while maintaining our innovative production edge," saying that South Korea has similarly transcended the middle-technology phase while leading in semiconductors and artificial intelligence (AI). Valentini also touched on cultural aspects, saying, "South Korea has also become a global creative and cultural powerhouse, from K-pop to cinema, from design to digital arts. While Italy continues our Renaissance legacy through fashion, architecture, and industrial design, together we represent a unique fusion where Eastern innovation meets Western craftsmanship, creating synergies across entertainment, technology, and luxury markets." Since the implementation of the South Korea-EU Free Trade Agreement (FTA) in 2012, bilateral trade between the two countries has shown consistent growth. Total trade volume increased from $8.08 billion in 2012 to $12.6 billion in 2024, marking a growth rate of 55.9 percent. South Korean imports of Italian products grew from $4.8 billion to $7.7 billion (60.4 percent), while exports to Italy rose from $3.2 billion to $4.9 billion (53.1 percent). South Korea is now the largest consumer of "Made in Italy" products per capita in Asia, with more than half of Italy's exports to South Korea concentrated in the fashion and luxury goods sectors. 2025-09-05 17:25:01

Kim Jong-un and Xi Jinping pledge unshakable ties through summit meeting SEOUL, September 05 (AJP) - North Korean leader Kim Jong-un and Chinese President Xi Jinping met in Beijing on Thursday for their first summit in nearly seven years, signaling an effort to revive ties that had weakened as Pyongyang deepened its alignment with Moscow. The two leaders held talks at the Great Hall of the People on Thursday, the day after attending China's "Victory Day" military parade marking the 80th anniversary of the end of World War II. According to the state-run Korean Central News Agency (KCNA), Kim's visit was a "historic occasion which further strengthened the political trust and strategic cooperation" between the two countries, highlighting the "invariability and invincibility" of bilateral ties forged in their shared "socialist" struggle. Kim reaffirmed Pyongyang's support for Beijing, stating that North Korea would "ever invariably support and encourage the stand and efforts" of China to defend the "sovereignty, territorial integrity and development interests." Xi, for his part, emphasized the resilience of the relationship, calling China and North Korea as "good neighbors, good friends and good comrades who share the destiny and help each other." According to KCNA, Xi said, "No matter how the international situation may change, this stand will not change." After the talks, China's Ministry of Foreign Affairs issued its own statement. Regarding the Korean Peninsula issue, "China has maintained an objective and just position, and will continue to step up coordination with the DPRK and make utmost efforts to preserve peace and stability on the Korean Peninsula." The ministry added that Pyongyang praised Beijing's "just position" and expressed its willingness to work more closely with "China at the U.N. and other multilateral platforms" to safeguard common interests. North Korea also voiced hopes of expanding mutually beneficial trade and economic cooperation to deliver "more fruitful outcomes." Notably, the official statements from the two countries diverged on a key point. While China highlighted the Korean Peninsula issue, North Korea made no mention of it. At the same time, neither side mentioned denuclearization. During Kim's four previous trips to China in 2018 and 2019, official statements included Kim's commitment to denuclearization and Xi's endorsement of that goal. This time, such language was absent, suggesting a clear shift in priorities toward reinforcing political and economic ties. Kim wrapped up his fifth and longest trip to China on Thursday with his armored train leaving Beijing Station around 10 p.m. His stay in the capital lasted about 54 hours, part of a four-night and five-day overall visit. He is expected to arrive back in Pyongyang on Friday afternoon. Meanwhile, his daughter, Ju-ae, who was spotted upon arrival in Beijing, did not appear at subsequent events, including the parade and summits. 2025-09-05 17:04:52

PHOTOS: Journey back to Joseon in heart of Seoul, Buam-dong's Mok-in Museum SEOUL, September 05 (AJP) - Tucked away in the quiet residential neighborhood of Buam-dong, Jongno-gu, the Mok-in Museum Mokseokwon feels like a hidden treasure waiting to be discovered. The first sight upon entering is the outdoor exhibition garden, where more than 800 stone carvings are spread across the grounds. Large and small statues stand at every corner, evoking the atmosphere of a Joseon-era stone mason’s workshop. Scholar statues and childlike figures appear to meet the visitor’s gaze no matter which direction one turns. Paths and stairways guide guests to different vantage points, allowing the entire garden to be viewed from multiple angles. Below the outdoor space, the underground exhibition hall holds the museum’s most striking collection: more than 12,000 wooden figurines. Descending the stairs feels like stepping into another world, mysterious and slightly eerie. Under soft lighting, row upon row of carved wooden figures stand in dense formation, each with a unique face and posture. Some carry objects on their heads, others brandish swords mid-swing, while some appear dressed for a wedding with colorful hanbok and painted cheeks. Many carry playful or satirical expressions, grinning broadly or pulling mischievous smiles. Among the most memorable displays are the funeral bier decorations. The bier, once used to carry the deceased, is flanked by wooden guardians standing tall and upright, believed to guide souls safely to the afterlife. These were not merely decorative objects but reflections of ancestral beliefs and spirituality. Looking closely, one sees the fine workmanship of past artisans—the carved folds of clothing, the contours of faces, and the details etched into wood. Comparing figurines from different regions highlights distinct local characteristics, adding another layer of interest. In one corner of the outdoor garden, roof tiles once used in traditional architecture are displayed. Known as maksae giwa, these decorative end tiles were believed to ward off misfortune and invite blessings. Each tile carries its own expressive design, as if ancient guardians once perched on rooftops have gathered here. Another gallery showcases Haiju white porcelain from the late Joseon era, produced in Hwanghae Province. Their simple yet elegant forms glow under subtle lighting, distinct from Chinese porcelain. Especially striking are the pieces adorned with Hangul inscriptions rather than the more common Chinese characters. From painted animals to written phrases, the collection reveals the essence of Joseon-era ceramics. The rooftop garden offers sweeping views of Seoul’s skyline and the ridges of Bukhansan Mountain. Arranged across the terrace are large traditional jars, some painted, some dented or overturned, glowing softly in the sunlight against the green backdrop. It is a harmonious blend of folk art and natural scenery, offering visitors the feeling of a time slip into Korea’s past at the edge of a modern city. Leaving Mokseokwon, it is clear this museum holds meaning far beyond its collections. The 12,000 wooden figures, 800 stone sculptures, roof tiles, jars, and porcelains are all time capsules carved and shaped by ancestors. They preserve everyday life, faith, and creativity, carried forward through art into the present. 2025-09-05 15:10:32

Joint Korean university team uses magnetic nanohelices to control electron spins at room temperature SEOUL, September 05 (AJP) - Researchers from Korea University and Seoul National University have created tiny magnetic structures that can control the spin of electrons at room temperature, a breakthrough that could push spintronics — a new kind of electronics — closer to real-world use. The study, led by Professor Kim Young-keun of Korea University and Professor Nam Ki-tae of Seoul National University, was published in Science on September 4, 2025. Their team successfully made "nanohelices," or spiral-shaped magnetic structures, that filter electron spins based on their handedness, or chirality. This could help build faster, more energy-efficient electronic devices in the future. Spintronics is a new way to process information using the spin of electrons rather than just their charge. It promises smaller, faster, and less power-hungry data storage and computing. However, one of the main challenges has been finding materials that can easily and reliably control spin direction. The team discovered that combining shape and magnetism can solve this problem. By making spiral structures out of magnetic materials, they discovered that they could control the direction of spin simply using geometry and the material’s natural magnetism — and it works at room temperature. "These nanohelices achieve spin polarization exceeding about 80 percent, just by their geometry and magnetism," said Professor Kim. "It is a rare combination of structural chirality and intrinsic ferromagnetism, and it works at room temperature. We do not need complex magnetic circuits or cooling systems." To build the nanohelices, the researchers used an electrochemical method and added tiny amounts of chiral organic molecules like cinchonine or cinchonidine. These molecules acted like templates that helped the metal form into spirals with either left-handed or right-handed twists. This kind of control is well known in organic chemistry but almost never achieved in metals. Once the helices were made, the team showed that right-handed ones allowed one spin direction to pass through, while blocking the opposite spin. That makes them function like spin filters. This is the first time this effect has been observed in a 3D inorganic structure. To prove the handedness of each nanohelix, the researchers invented a test based on electromotive force, or emf. When they rotated a magnetic field around the helices, the left- and right-handed spirals generated opposite emf signals. This lets them measure chirality even in materials that do not react to light. Because the nanohelices are magnetic, they can also send spin information across long distances — even without being aligned in a specific direction. This effect did not happen in non-magnetic versions of the same helices, showing that magnetism is essential for this behavior. The team also built a working solid-state device that showed different electrical signals depending on whether it used left- or right-handed helices. This shows that the technology can be used in real electronic devices. "Chirality is well-known in organic chemistry and biology, where the left or right twist of a molecule can determine how it functions," said Professor Nam. "But controlling chirality in metals is extremely difficult. We achieved it here just by adding a small amount of chiral molecules, which is a major breakthrough in materials chemistry." Professor Kim said, adding: "We believe this system could become a platform for chiral spintronics and help design more advanced magnetic nanostructures." The team’s technique also allows them to control not just the direction of the twist, but also how many strands the helix has, which could open even more possibilities in future electronics. 2025-09-05 14:12:23

South Korea launches task force to develop AI-powered smart cities SEOUL, September 05 (AJP) - South Korea's Ministry of Land, Infrastructure and Transport has established a dedicated task force to spearhead the development of artificial intelligence-driven cities, marking a significant step beyond traditional smart city initiatives. The newly formed task force held its inaugural meeting on Friday, bringing together departments specializing in urban development, architecture, and mobility alongside key research institutes and public corporations. The ambitious AI city concept represents an evolution from existing smart city infrastructure, which has primarily focused on bus information systems, integrated urban control centers with CCTV networks, and smart crosswalks. Unlike conventional approaches, the AI city model aims to harness vast urban datasets to predict traffic congestion, energy consumption patterns and safety concerns before they emerge. The system would deliver personalized services across multiple sectors to citizens. The government has allocated 4 billion won (about $2.87 million) in next year's budget for selecting pilot city sites and developing comprehensive project blueprints for the AI-specialized demonstration cities. "The AI city represents a new future urban model that goes beyond simple technology adoption, where artificial intelligence takes the lead in urban planning and operations to revolutionize citizens' daily lives," said Lee Sang-joo, deputy minister for territorial and urban policy at the ministry. "Through this task force, we ask related agencies to work closely together so that policy formulation and implementation processes can be organically connected, and we will realize the Korean-style AI city vision by promptly creating results that citizens can experience." 2025-09-05 13:51:04

68 countries to join Seoul Defense Dialogue next week SEOUL, September 05 (AJP) - The defense ministry will host the 14th Seoul Defense Dialogue (SDD) in central Seoul from Monday to Wednesday, bringing together senior officials from around the world. Launched in 2012, the annual forum is designed to promote peace on the Korean Peninsula and strengthen regional security cooperation. This year, more than 1,000 participants from 68 countries and international organizations are expected to attend, according to the ministry. Defense ministers from Japan, South Africa, Mongolia, Croatia and the Philippines will join vice defense ministers from eight countries and the chairman of NATO’s military committee as panelists in key sessions. Japan’s Defense Minister Gen Nakatani will visit Seoul for the first time in a decade and is set to hold talks with South Korean Defense Minister Ahn Kyu-baek. Participants are expected to discuss pressing global security issues, including ways to ease military tensions, restore strategic stability and build future security capabilities. "The SDD is a platform for the international community to strengthen cooperation and pursue common goals for peace and stability," a ministry official said. "It will also help South Korea enhance its role as a responsible member of the global community." 2025-09-05 13:32:20

SK hynix maintains DRAM market lead over Samsung in second quarter SEOUL, September 05 (AJP) - SK hynix retained its position as the world's largest DRAM manufacturer in the second quarter of 2025, widening its lead over Samsung Electronics as high-bandwidth memory (HBM) demand continued to drive growth, according to data released Friday by market research firm Omdia. Global DRAM industry revenue increased 17.3 percent quarter-over-quarter to $30.92 billion, driven by rising contract prices and increased HBM shipments. SK hynix expanded its DRAM market share to 39.5 percent in the second quarter from 36.9 percent in the first quarter, maintaining the top position it first claimed in early 2025. Samsung Electronics' market share declined to 33.3 percent from 34.4 percent during the same period, keeping the company in second place for the second consecutive quarter. The gap between the two South Korean memory manufacturers widened significantly, with SK hynix's lead expanding from 2.5 percentage points in the first quarter to 6.2 percentage points in the second quarter. In absolute terms, SK hynix generated $12.23 billion in second-quarter DRAM revenue compared to Samsung's $10.3 billion, a difference of more than $1.9 billion. SK hynix's dominance stems largely from its leadership in the high-bandwidth memory market, where it holds over 50 percent market share and serves as the primary supplier to major technology companies including NVIDIA. The company has reportedly sold out its entire 2025 HBM production capacity and is currently negotiating contracts for 2026 deliveries. Market research firm TrendForce corroborated the findings, reporting SK hynix's DRAM market share increased from 36 percent to 38.7 percent between the first and second quarters. SK hynix's second-quarter performance marks the first time since 1992 that Samsung has lost its global DRAM market leadership position, ending a 33-year streak at the top of the memory industry. 2025-09-05 13:31:52

Ruling and opposition party leaders to meet with acting US ambassador SEOUL, September 05 (AJP) - The leaders of South Korea's two main political parties, Jung Chung-rae of the ruling Democratic Party (DP) and Jang Dong-hyeok from the main opposition party People Power Party (PPP), are scheduled to hold separate talks with acting United States Ambassador Joseph Yun, who has been serving as acting ambassador since January, at the National Assembly on Friday. Jung, leader of the ruling party, is set to meet Yun at 3 p.m. in his office at the Assembly's main building. Yun will then meet with Jang, who leads the main opposition party, at 4 p.m. The discussions are expected to focus on follow-up measures to the recent South Korea-U.S. summit and reaffirming the bilateral alliance between the two nations. Jung is also likely to raise trade concerns. On Thursday, he met with leaders of small and medium-sized businesses who expressed frustration over U.S. tariffs of up to 50 percent on steel and aluminum exports. They said exports to the U.S. had fallen sharply last month and appealed for political support. Jung was elected the new leader of the Democratic Party on August 2. Jang was elected the new leader of the People Power Party on August 26. 2025-09-05 13:30:47

South Korea's credit card firms post profit drop as delinquency hits decade high SEOUL, September 05 (AJP) - South Korea's credit card companies saw their combined net profits sink more than 18 percent in the first half of the year, with delinquency rates climbing to their highest point in over a decade, according to data released Friday by the Financial Supervisory Service (FSS). Net profits stood at 1.2251 trillion won ($8.79 billion) for the January–June period, down 18.3 percent from a year earlier. The slide came even as revenue rose by 331.1 billion won ($238 million), because overall costs jumped by 604.9 billion won ($434 million). The increase in expenses was largely tied to higher loan loss provisions, which climbed 264.3 billion won ($190 million), as well as 11.3 billion won ($8.1 million) in additional interest costs. Merchant fee income also slipped by 291.1 billion won ($209 million). Asset quality weakened noticeably. As of the end of June, the delinquency rate on total receivables was 1.76 percent, up 0.11 percentage points from the end of last year. It marked the highest level since late 2014, when the figure stood at 1.69 percent. Non-performing loans rose as well, with the ratio increasing from 1.16 percent at the end of last year to 1.3 percent. The loan loss reserve ratio edged down slightly to 106.3 percent from 108.1 percent. On the other hand, capital adequacy remained solid. The sector's adjusted capital ratio improved 0.3 percentage points to 20.7 percent, comfortably above the regulatory minimum of 8 percent. An FSS official said net profits took a hit because of "reduced merchant fee income and increased loan loss costs," while stressing that "although delinquency rates and non-performing loans have gone up, loss absorption capacity remains 2025-09-05 13:26:46

South Korea's egg prices surge ahead of traditional holiday Chuseok amid supply shortage SEOUL, September 05 (AJP) - South Korea's egg prices are expected to climb further as the Chuseok, traditional Korean thanksgiving holiday season, is set to take place in early October. Also, supply constraints stemming from extreme summer heat continue to squeeze the market. The Korea Rural Economic Institute projected Friday wholesale egg prices would reach 1,900 to 1,950 won (around $1.43 to $1.47) per 10 extra-large eggs in September, marking a potential 15.7 percent increase from the same period last year. The price surge, which began in April, has persisted for nearly six months. Wholesale egg prices breached the 1,900 won threshold in June with a 16.7 percent year-on-year increase, followed by rises of 19.4 percent in July and 20.1 percent in August. The institute attributed the sustained price pressure to an aging laying hen population and heat-related supply disruptions. Daily egg production is forecast to drop 1.1 percent to 49 million eggs this month compared to last year. Industry analysts point to additional factors contributing to the supply crunch, including recent animal welfare regulations that limit the number of hens per cage and outbreaks of highly pathogenic avian influenza that have reduced overall production capacity. Consumer prices have already felt the impact, with retail egg costs jumping 8 percent over the past year, according to Statistics Korea. The average nationwide price for 30 extra-large eggs hit 7,356 won in August, the highest level since July 2021. The government has scrambled to address mounting inflation concerns ahead of Chuseok, when demand for agricultural products traditionally spikes. Officials plan discount campaigns with major retailers and egg producers to ease the burden on consumers. Authorities acknowledged they have yet to identify the root causes behind the dramatic price increases. The Agricultural Ministry said investigations into potential price manipulation remain ongoing, while industry groups have pledged to normalize pricing within the week. The Rural Development Administration reported successful trials of automated temperature control systems in chicken farms during the summer months, citing their critical importance for poultry welfare as chickens struggle to regulate body temperature in extreme heat, which significantly reduces quality egg production. Relief may not come until after the holiday period ends. The institute forecasts wholesale prices will remain around 1,900 won through November before declining as new laying hens enter production and seasonal demand subsides. 2025-09-05 11:12:27