Asian stocks open lower as Wall Street closes for Thanksgiving SEOUL, November 28 (AJP) - South Korea's benchmark KOSPI opened lower on Friday morning, dropping 1 percent to 3,947.53. The decline was driven by foreign investors offloading shares worth a net 260.9 billion Korean won (US$17.8 million), while domestic retail and institutional investors bought a net 258.1 billion won and 9.4 billion won, respectively. But the tech-heavy junior KOSDAQ began the day higher, gaining 3 percent to 906.31 and extending a three-day upward trend. Among blue chips, Samsung Electronics lost 2 percent to 101,400 won ($69) and SK hynix declined 1.5 percent to 536,000 won. Shares of LG Energy Solution dropped 5.4 percent to 414,500 won, while Samsung Biologics shed 1.3 percent to 1.62 million won. Doosan Enerbility slipped 0.8 percent to 77,000 won. HD Hyundai Heavy Industries retreated 2.9 percent, Hanwha Aerospace fell 1.5 percent, and Naver dropped 2.4 percent. By contrast, automakers edged higher. Hyundai Motor rose 0.8 percent to 263,500 won and Kia added 0.3 percent to 114,350 won. Entertainment stocks rose across the board. The country's entertainment behemoth HYBE climbed 1.2 percent to 301,000 won, JYP Entertainment jumped 3.7 percent to 67,600 won, SM Entertainment 3.1 percent to 105,500 won, and YG Entertainment 3.4 percent to 64,300 won. Meanwhile, U.S. markets were closed overnight for the Thanksgiving holiday, with both equity and bond trading shut for the federal observance. In Japan, Tokyo's Nikkei 225 declined 0.2 percent to 50,053.85, about an hour after the day's trading session. Major Japanese companies had a mixed start, with shares of Toyota Motor slipping 0.2 percent to 3,131 yen ($20) and SoftBank Group dropping 1 percent to 16,670 yen. Meanwhile, Honda Motor rose 1.1 percent to 1,575 yen, and Nintendo gained 1 percent to 13,305 yen. In China, Shanghai Composite Index fell 0.4 percent shortly after the open to 3,861.68, while Hong Kong's Hang Seng Index dropped 0.2 percent to 25,882. 2025-11-28 11:46:31

Lawmaker Jang Kyung-tae accused of sexual assault SEOUL, November 28 (AJP) - Lawmaker Jang Kyung-tae of the ruling Democratic Party has been embroiled in a sexual assault scandal after a complaint was filed with police. According to the Seoul Metropolitan Police Agency, Jang allegedly sexually harassed a woman at a gathering in Seoul late last year. Jang immediately denied the allegations, posting a message on Facebook saying, "I will firmly respond including legal action against these false accusations." In response to the allegations, the party's leader Jeong Cheong-rae has ordered an internal investigation. Meanwhile, rumors have been circulating that Lee Jun-seok, the leader of the minor centrist Reform Party, was also at the gathering. Lee has vowed to take legal action for defamation against those spreading what he called "false information." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 11:09:18

Fresh cold snap grips nation SEOUL, November 28 (AJP) - A cold snap swept across the country on Friday, with morning temperatures dropping below zero and strong winds making it feel even colder. According to the Korea Meteorological Administration, cold air from the northwest caused temperatures to plunge below the seasonal average. In some central regions, temperatures fell 5 to 7 degrees Celsius, compared to the previous day. While temperatures are forecast to rise slightly in the afternoon, most regions will see fluctuations of over 10 degrees Celsius between morning lows and daytime highs. Daytime highs are expected to range from 5 to 12 degrees, with Seoul at 7 degrees, Daejeon at 9 degrees, Daegu at 10 degrees, and Busan at 12 degrees. Most regions will see winds exceeding 55 km/h, with gusts over 70 km/h expected in the mountainous areas of Gangwon. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-28 10:40:20

Hanwha Ocean secures $725 million order for 4 container ships from HMM SEOUL, November 28 (AJP) - South Korea’s Hanwha Ocean announced Friday that it has secured a $725 million (1.07 trillion won) order from HMM to build four container ships. The deal is part of HMM’s broader strategy to transition to eco-friendly vessels and bolster the competitiveness of South Korea’s shipping and shipbuilding sectors. Hanwha Ocean said it will leverage its advanced container ship construction technology and extensive project experience to deliver high-value vessels. This latest order brings Hanwha Ocean’s total confirmed ship orders to 41, including 17 very large crude carriers, 17 container ships, six LNG carriers, and one icebreaker research vessel, with a combined value of approximately $7.7 billion. The company’s growing order book reflects strong demand for advanced and environmentally friendly vessels amid rising global shipping regulations and the industry’s shift toward decarbonization. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 10:24:17

South Korea forms council to speed up development of next-generation aircraft engine SEOUL, November 28 (AJP) - South Korea is accelerating efforts to develop next-generation aircraft engines. The Ministry of Trade, Industry and Energy said Friday it, together with related government bodies, inaugurated a council to review development plans for advanced propulsion systems for future fighter jets and streamline cooperation across ministries. Only a handful of countries — including the United States, the United Kingdom, France and Russia — possess homegrown aircraft engine technology. The sector requires heavy investment, long development timelines and strict regulatory oversight, making it one of the most strategically sensitive areas in defense manufacturing. Officials say domestic development could significantly cut maintenance costs currently paid to overseas suppliers and strengthen the export competitiveness of Korean-built fighter aircraft. In January, the Defense Acquisition Program Administration (DAPA) set out a preliminary roadmap for the program, outlining priorities such as workforce training and the establishment of core infrastructure. The newly formed council will work to avoid budget duplication among agencies and will hold regular discussions on major R&D challenges. Lee Sun-hye, a senior official at the trade ministry, said technological self-reliance and supply-chain stability were essential for the program’s success. Choi Seung-wook of the Ministry of Land, Infrastructure and Transport stressed that securing proper certification would be crucial for both domestic deployment and overseas sales. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 10:17:57

PHOTOS: Seoul Station marks 100 years of history SEOUL, November 27 (AJP) - Seoul Station is marking its 100th anniversary this year with a commemorative exhibition that revisits the landmark’s century-long transformation and its role in Korea’s modern history. First opened in 1925 as Gyeongseong Station, the building has borne witness to some of the most significant chapters of the nation’s past — from Japanese colonial rule and the push for modernization to liberation, national division, industrialization and democratization. The old station building was closed in 2004 and later reopened in 2011 as a cultural complex now known as Culture Station Seoul 284. The anniversary exhibition, held inside the historic structure where personal memories and national history converge, runs through Nov. 30. It traces the evolution of the original station over the past century and is organized around three themes: past, present and future. One highlight is the display of an original manuscript of the Great Dictionary of the Korean Language, discovered in a station warehouse shortly after Korea’s liberation from Japanese rule in 1945. Curators say the artifact adds historical resonance to the exhibition’s broader look at the station’s enduring legacy. 2025-11-28 10:07:10

Korea's Oct factory output dips steepest in 5 years on chipmaking cutback SEOUL, November 28 (AJP) - South Korea’s industrial output shrank at the steepest rate in five years in October on a sharp contraction in semiconductor activity that again underscored the economy’s heavy dependence on chipmaking, government data showed Friday. According to the Ministry of Data and Statistics Industrial Output data, mining and manufacturing output declined 4 percent on month, the steepest drop since 7.5 percent in May 2020, and 8.1 percent on year, the sharpest since 8.3 percent in April 2023 amid global supply disruptions. The slump was led by semiconductors, where output plunged 26.5 percent on year — the biggest contraction in 43 years. The fall reflects a tightening supply of legacy chips as Korean foundries divert capacity toward long-term AI and data-center clients and higher-performance semiconductor lines. Weakness extended beyond manufacturing. Service-sector output slipped 0.6 percent on month, contributing to a 2.5-percent overall industry-wide decline, the largest drop since February 2020 at the onset of the pandemic. 2025-11-28 09:27:25

OPINION: Lessons from the fall of the western Roman empire for Trump's 'America First' policy SEOUL, November 28 (AJP) - Romulus Augustulus is known as the last emperor of the Western Roman Empire, deposed in 476 AD by Germanic warrior Odoacer who became the first barbarian king of Italy. Historians do not hold him directly responsible for the empire's fall, as he was a puppet emperor placed by his father. Responsibility for the fall Germanic military leader Odoacer rose to power in Rome. His father Edeco was close to Attila the Hun. Odoacer's rise and Romulus's deposition marked a painful yet intriguing chapter for Rome. If Odoacer had Roman lineage, he might have restored Rome, but he pledged allegiance to the Eastern Roman emperor and ruled Italy as king. The fall of the Western Roman Empire has long been debated. Just as Rome wasn't built in a day, it didn’t collapse overnight. Emperor Valentinian III (reigned 425-455) is often blamed for weakening the empire. He assassinated Flavius Aetius, the "last Roman," who had defeated Attila, leading to chaos and Odoacer's rise. The concept of "foederati" emerged during Odoacer's time. These were tribes that provided military support to Rome in exchange for land and resources. The practice grew as Romans avoided military service, and Rome struggled with defense costs. The movement of Germanic tribes due to the Huns also contributed to this need. Comparisons with the U.S. Is it too much to compare Trump's "America First" mantra with the fall of the Western Roman Empire? Aetius's death ended competent leadership in the Roman army, similar to the perceived decline in U.S. leadership. The U.S. faces internal and external challenges, and Trump's policies reflect a response to these threats. However, like Rome, the U.S. may struggle to overcome these issues alone. Climate crisis as a greater threat A declaration on the climate crisis was adopted at the recent Group of 20 (G20) summit in South Africa, despite opposition from the U.S. The declaration emphasized climate change, an issue U.S. President Donald Trump administration frequently downplayed. Trump, who did not attend the summit, later announced that South Africa would not be invited to the next G20 meeting in Florida. The U.S. also skipped the COP30 climate conference in Brazil, with only three other countries absent. This absence signals a lack of U.S. leadership on climate issues, as the country is a major greenhouse gas emitter. The final agreement at COP30 omitted key fossil fuel reduction language, highlighting political retreat. ProPublica and The Guardian reported that Trump's policies could lead to 1.3 million additional heat-related deaths globally, mostly in poorer regions. The study was based on projected emissions under Trump's policies. As the Western Roman Empire fell due to external pressures, the 21st-century climate crisis poses a similar threat. Trump's actions resemble those of Valentinian III, undermining leadership when it's most needed. If the U.S. decline is inevitable, it may be time to consider a post-empire world. A cooperative approach could offer a constructive path forward, learning from the mistakes of Trump and Valentinian III. An Chi-yong, the director of the ESG Research Institute and a professor at Ajou University. * This article, published by Aju Business Daily, was translated by AI. 2025-11-28 09:00:06

Hanwha Ocean shifts focus to Canada after losing Polish submarine deal SEOUL, November 28 (AJP) - Hanwha Ocean said on Friday it will pivot toward future defense export opportunities after losing out on Poland’s next-generation submarine program. “Despite strong support from the South Korean government and the public, we were unable to secure the Polish contract,” the company said in a press release. The shipbuilder said it will now redirect its focus to Canada, where the government is preparing one of the world’s largest conventional submarine procurement programs. Ottawa plans to replace its aging Victoria-class fleet with 12 diesel-electric submarines of about 3,000 tons, with deliveries expected from the mid-2030s. The project is valued at up to 60 trillion won ($44 billion) and could become South Korea’s biggest-ever defense export deal if a domestic bidder prevails. Hanwha Ocean and rival HD Hyundai Heavy Industries are competing against Germany’s ThyssenKrupp Marine Systems (TKMS) for the contract. Canada is expected to make a decision by May, after proposals are submitted in March. “We are determined to deliver results that reflect South Korea’s global standing in maritime defense,” Hanwha Ocean said, thanking the government and the public for “unwavering support” as it seeks its next major export win. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-28 08:55:04

South Korea's Daum portal to spin off as AXZ after 11 years under Kakao SEOUL, November 28 (AJP) - South Korea’s No. 2 portal site Daum will be spun off into a standalone company named AXZ on Dec. 1, marking its first legal separation from Kakao in 11 years in a bid to revive competitiveness in the portal business, industry officials said Friday. Kakao will transfer Daum’s service rights to AXZ, a subsidiary established in May to prepare for the split. The move ends a decade-long integration following Kakao’s 2014 merger with Daum Communications. Starting next month, AXZ will operate Daum’s key services, including search, news, shopping, online communities and email. Tistory, the long-running blogging platform, will also be overseen by AXZ under a plan announced last month. The spin-off is designed to restore agility at Daum, whose development pace slowed under Kakao’s sprawling corporate structure. “The separation will strengthen our portal expertise and create a more flexible environment for experimentation, enabling swift, independent decision-making and new value creation,” a Kakao official said. Ahead of the transfer, Kakao updated its privacy policy on Nov. 24, removing Daum from its list of data-processing services and deleting related data-collection provisions across Daum pages and customer centers. Despite the legal separation, the two companies will continue to share certain user data. AXZ will supply Kakao with information from Daum’s integrated search, news consumption patterns and Tistory logs, which Kakao plans to use to improve personalized recommendations and advertising within KakaoTalk. Industry analysts say this reflects the continued need for data synergies across the broader Kakao ecosystem. Users will also see changes to the login procedure for Daum Games, which is operated by Kakao Games. The unified Daum-Kakao account login system will be revised following the split. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-28 08:43:21