South Korea's Hyundai Glovis secures $720 million LNG transport contract SEOUL, November 27 (AJP) - Hyundai Glovis said on Thursday it has signed a long-term liquefied natural gas (LNG) shipping contract worth about 960 billion won ($720 million) with a major global trading company, marking one of the largest gas-transport deals in the company’s portfolio. The contract, which runs for up to 15 years, will be serviced by a newly built 174,000-cubic-meter LNG carrier — a vessel large enough to transport more than half of South Korea’s daily LNG consumption in a single voyage. The ship will be equipped with advanced cryogenic storage systems capable of maintaining LNG at –162 degrees Celsius. Beginning in 2029, the carrier will ship LNG from the U.S. Gulf Coast to major global markets. Hyundai Glovis said the deal will help strengthen its position in the expanding global gas shipping sector and support stable international energy supply chains. The LNG shipping industry relies on sophisticated cryogenic technology and strict safety management. The International Energy Agency’s Gas 2025 report projects global LNG trade to grow by 300 billion cubic meters by 2030, a roughly 40 percent increase from 2023, driven by the diversification of energy supply chains and rising maritime transport demand. Hyundai Glovis is seeking to diversify beyond its core automobile transport business into LNG, LPG, and ammonia shipping. Since 2024, it has operated one LPG and one LNG carrier, and it plans to introduce four additional LNG vessels by 2027 to service Middle Eastern clients. “We will continue expanding our fleet to strengthen competitiveness in the LNG shipping market and broaden our global customer network,” a company spokesperson said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 09:45:07

Fire at Hallym University forces hundreds of students to evacuate in Chuncheon SEOUL, November 27 (AJP) - Hundreds of students were evacuated overnight after a fire broke out at a university in Chuncheon, Gangwon Province, in the early hours of Thursday. The fire occurred at around 1:27 a.m. on the fourth floor of a dormitory at Hallym University. Fire alarms sounded, prompting 346 students to evacuate, and no injuries were reported. The blaze damaged part of the building including two electrical panels before being extinguished in about 20 minutes. Police and fire authorities are investigating the exact cause of the fire. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 09:23:11

National Assembly set to vote on arrest motion for PPP's former floor leader SEOUL, November 27 (AJP) - The National Assembly is set to decide on whether to pass the arrest motion for Choo Kyung-ho, the main opposition People Power Party (PPP)'s former floor leader over his alleged involvement in former President Yoon Suk Yeol's martial law debacle in December last year. Choo has been accused of interfering with parliamentary efforts to lift the martial law declared by Yoon on Dec. 3. The motion, initiated by independent prosecutors investigating the debacle, requires a majority of lawmakers present to pass. With the Democratic Party holding a majority, it is likely to be passed. If passed, a court will proceed with a hearing to determine whether to issue an arrest warrant for him. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 09:06:03

Homeplus sale stalls as main auction draws no bidders SEOUL, November 27 (AJP) - The planned sale of Homeplus has stalled after the main auction attracted no bidders, deepening uncertainty over the future of the South Korean hypermarket chain. Two companies had taken part in the preliminary bidding but both withdrew ahead of the final auction. The main auction closed at 3 p.m. on Wednesday with no proposals submitted. Sources from Homeplus said on Thursday it will continue to accept offers until Dec. 29, the deadline for filing a rehabilitation plan. The company added that if a qualified buyer emerges, the court may consider extending both the sale timetable and the plan-submission deadline. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-27 08:54:42

Delinquencies on Korea's mom-and-pop business loans hit highest level since 2015 SEOUL, November 27 (AJP) - Delinquencies on loans to South Korea’s mom-and-pop businesses rose to their highest level in more than nine years in the third quarter, even as the banking sector’s overall nonperforming loan (NPL) ratio edged down, the Financial Supervisory Service (FSS) said on Thursday. The NPL rate for personal business loans climbed 0.02 percentage points from the previous quarter to 0.61 percent, the highest since June 2015. The FSS attributed the rise to a weak economic environment and higher borrowing costs, which have placed growing pressure on small self-employed borrowers. Across the banking sector, the overall NPL ratio stood at 0.57 percent in September, down 0.02 percentage points from the previous quarter but up 0.04 percentage points from a year earlier. Total NPLs amounted to 16.4 trillion won, a decline of 2 trillion won from June. Corporate loans made up 13.1 trillion won of the total, household loans 3 trillion won, and credit card loans 300 billion won. Banks generated 5.5 trillion won in new NPLs during the July–September period, down 900 billion won from the previous quarter but up 400 billion won from a year earlier. Household loan defaults remained at 1.4 trillion won, while corporate loan defaults fell by 1 trillion won to 3.9 trillion won. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 08:43:38

North Korea highlights need for nuclear submarines North Korea's Korean Central News Agency criticized the recent U.S.-South Korea joint statement, claiming it reveals a hostile stance and could destabilize military security in the Asia-Pacific region. The agency argued that South Korea's pursuit of nuclear submarines could lead to a 'nuclear domino effect' and escalate an arms race. This response followed the joint fact sheet released on Nov. 14. North Korea's reaction is perplexing, given its own nuclear developments. The term 'nuclear domino' is particularly striking. If North Korea had not pursued nuclear weapons or submarines, it might have grounds to criticize South Korea. However, North Korea's nuclear arsenal is a significant global threat, making its stance questionable. Two motives may underlie North Korea's comments. First, it seeks to emphasize its status as a de facto nuclear state. Unlike official nuclear weapon states under the Nuclear Non-Proliferation Treaty (NPT), North Korea withdrew from the NPT after receiving nuclear technology and support. Recognizing North Korea as a nuclear state could encourage other countries, like Ukraine, to follow suit. Ukraine, once the third-largest nuclear power, might reconsider its stance due to its conflict with Russia. Second, North Korea's reaction may stem from anxiety over South Korea's potential acquisition of nuclear-powered submarines, which could disrupt China's maritime strategy. President Lee Jae-myung's push for nuclear submarines marks a significant shift in South Korea's defense capabilities. During a summit with President Trump, Lee highlighted the limitations of diesel submarines and advocated for nuclear fuel to enhance regional defense and reduce U.S. operational burdens. Critics argue that developing nuclear submarines could heighten regional tensions. However, historical evidence suggests tensions can escalate independently of such developments. North Korea's response underscores the strategic necessity for South Korea to pursue nuclear-powered submarines, emphasizing the importance of realistic power dynamics in international politics. Author's Background ▷Ph.D. in Political Science, University of Freiburg ▷Vice President, Korean Association of International Studies ▷Former Research Fellow, Korea Institute for National Unification * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 07:59:15

South Korea ushers in private-led space era with 4th Nuri launch GOHEUNG, South Korea, November 27 (AJP) - South Korea opened a new chapter in its space program Thursday with the successful fourth launch of the homegrown Nuri rocket — the first assembled by Hanwha Aerospace — marking a decisive shift toward a private sector–driven space industry. The 200-ton, three-stage rocket lifted off from the Naro Space Center at 1:13 a.m. and entered a sun-synchronous orbit 600 kilometers above Earth, deploying a next-generation medium satellite along with 12 cube satellites. The flight was completed in 18 minutes and 52 seconds, faster than the planned 21 minutes and 24 seconds, after its engines outperformed design specifications, according to Park Jong-chan of the Korea Aerospace Research Institute (KARI). The medium satellite made first contact with Antarctica’s King Sejong Station 42 minutes after launch, with further communications scheduled with ground stations in Daejeon and Norway’s Svalbard. Deputy Prime Minister Bae Kyung-hoon called the mission a “pivotal moment” as the country transitions from a government-led model to a private sector–driven space economy. “South Korea is committed to becoming a top-five space power, with ambitions stretching from lunar exploration to deep space,” he said. For the first time, Hanwha Aerospace led the manufacturing and assembly of Nuri, following a technology transfer agreement with KARI earlier this year. The transfer, valued at 24 billion won (US$16.2 million), gives Hanwha exclusive rights to produce and operate Nuri through 2032, covering design, manufacturing and launch operations. Launchpad and propulsion-test infrastructure remain under government control. Compared with Nuri’s third launch in May 2023, which reached 550 km and carried 500 kg of payloads, Thursday’s mission flew higher and carried 960 kg — nearly double the earlier load. Experts say the launch is a watershed moment in Korea’s emergence into the “new space” era. “This marks the true beginning of private-sector-led space development,” said Huh Hwan-il, aerospace engineering professor at Chungnam National University. “Japan transferred launch vehicle technologies to industry two decades ago, and Mitsubishi Heavy Industries now leads that market. Korea must prepare similar institutional groundwork to help companies fully utilize government-built capabilities.” The Korea Space Agency said it plans the fifth and sixth Nuri flights in 2026 and 2027, followed by a seventh in 2028. “We are planning next year’s budget to begin developing a next-generation launch vehicle building on Nuri’s technology,” said agency head Yoon Young-bin. South Korea’s steady push toward commercial space development — with Nuri now transitioning from state laboratories to private hands — positions the country to accelerate toward its long-term goal of joining the global top tier of space powers. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 07:40:31

Korean Inc.'s USD hoarding is inevitable as U.S. trade and FDI footprints deepen SEOUL, November 26 (AJP) - South Korea’s finance minister signaled the government had even asked major exporters for help in propping up the won — a reversal of the usual dynamic that underscores the urgency on the FX front. But expectations for meaningful action remain low, as companies tied to massive U.S. investment commitments have little incentive to part with their dollar reserves. The won’s annual average has already exceeded 1,400 per dollar this year, surpassing the 1997 Asian financial crisis level of 1,398.88, according to market data. The currency’s depreciation has coincided with Korean firms accelerating overseas investment, especially in the United States, while delaying dollar conversions amid deepening uncertainty over the dollar’s trajectory. Data from the Bank for International Settlements (BIS) shows Korea’s real effective exchange rate (REER) slid to 89.09 at the end of October — its lowest since August 2009. A REER below 100 signals an undervalued currency, reflecting broad weakness against major trading partners. The index is expected to fall further in November as the dollar has strengthened more than 3 percent over the past month. A weaker won traditionally boosts export competitiveness, but today’s environment is anything but typical. Korea’s biggest exporters are generating large dollar inflows while committing to multiyear overseas investments denominated in dollars — leaving them with few reasons to repatriate foreign currency. “Companies are hoarding dollars simply because they don’t expect the dollar to weaken,” said Jang Bo-seong, senior researcher at the Korea Capital Market Institute. “It is common sense to avoid a money-losing practice.” Jang noted that exporters naturally hedge by holding dollars, since payments for overseas investments, equipment and raw materials are often settled in dollars. “Without a clear signal that the dollar will weaken, holding dollar assets is seen as the safer choice.” Chipmakers — responsible for roughly a quarter of Korea’s exports — epitomize the mixed effects. A strong dollar boosts revenue on U.S.-denominated sales but simultaneously raises import costs for equipment and materials while inflating the won value of massive overseas investments. SK hynix, whose U.S. exposure is particularly large with about 70 percent of sales linked to American customers, says its FX posture hinges primarily on its investment cycle rather than daily market moves. “Dollar inflows from exports are managed in line with overseas investment, procurement and payment schedules,” a company official said, adding that hedging strategies are used to reduce volatility. Samsung Electronics, Hyundai Motor and LG Electronics either did not respond to requests for comment or declined to discuss their foreign-currency management. The corporate preference for holding dollars is now directly shaping FX market dynamics. “Foreign exchange markets are ultimately driven by supply and demand,” Jang said. “When large corporates hold onto dollars instead of converting them, it inevitably tightens dollar supply in the domestic market.” This imbalance is magnified by Korea’s massive overseas investment pledges. Korean companies have committed more than $350 billion to U.S. projects as they seek to hedge geopolitical risks and secure access to advanced manufacturing ecosystems. A persistently weak won raises the won-denominated cost of those investments, further reinforcing incentives to stockpile dollars. For now, authorities have little choice but to hope for a retreat in the dollar. “If the dollar index begins to decline meaningfully, companies may reassess their currency positions,” Jang said. “For the time being, however, holding dollars remains rational from a corporate risk-management perspective.” As the won tests levels unseen even during past crises, policymakers and markets alike are closely watching whether corporate dollar hoarding — once viewed as a cyclical defensive move — is becoming a structural feature of Korea’s FX landscape. 2025-11-26 18:02:56

PHOTOS: Korea Grand Sourcing Fair opens in Seoul, draws global buyers SEOUL, November 26 (AJP) — South Korea’s trade agency is hosting a large-scale sourcing fair in Seoul this week to boost global opportunities for K-beauty and K-food exporters. The Korea International Trade Association (KITA) opened the 2025 Korea Grand Sourcing Fair (KGSF 2025) on Tuesday at COEX, bringing together promising Korean exporters and major global buyers. First launched in 2009, the annual event has become a key platform for connecting domestic suppliers with international retailers. This year’s edition has drawn more than 150 overseas buyers from over 30 countries alongside over 850 Korean companies, aiming to secure new business partnerships. Riding the global wave of Korean culture, K-beauty and K-food companies account for about 70 percent of all participants, many of whom are seeking collaboration with major international retailers such as Walmart in the United States, Marui in Japan, Miniso in China, Malaysia’s Prema group, and Thailand’s Central Department Store. KITA expects more than 2,200 export consultations to take place over the two-day event. Visitors takes part in a business consultation at COEX in Seoul’s Gangnam District on Nov. 26, 2025. AJP 2025-11-26 18:01:22

Asian shares rise on AI tailwind; Chinese markets mostly flat SEOUL, November 26 (AJP) - Asian shares closed broadly higher Wednesday, lifted by renewed optimism over artificial intelligence following the debut of Google’s “Gemini 3.0” model. While sector performance varied across the region, sentiment improved as investors increasingly dismissed the notion of an AI bubble. The benchmark KOSPI climbed 2.67 percent to 3,960.87. Easing anxiety over the AI sector and direct market intervention by foreign exchange authorities served as the day’s strongest catalysts. Institutional investors led the rally, net buying 1.23 trillion won ($838 million). The surge was interpreted as a result of the National Pension Service and major brokerages stepping up domestic equity purchases after FX authorities urged reduced reliance on overseas assets. Foreign investors also turned net buyers, adding 516 billion won. Retail investors, however, sold 1.8 trillion won, reflecting both profit-taking and skepticism over the government’s use of pension funds in its stock and currency defense operations. Despite intervention, the Korean won closed at 1,471.2 won per dollar, down 5 won as of 4:45 p.m., suggesting FX measures have yet to meaningfully reverse the currency’s slide. Treasury yields fell across the curve amid the absence of tangible momentum toward exchange-rate normalization. The 3-year yield fell 2.3 basis points to 2.878 percent, while the 10-year yield dropped 2.2 basis points to 3.242 percent. Market heavyweights advanced, though with varying strength. Samsung Electronics posted the strongest gain, rising 3.52 percent to 102,800 won after drawing investor attention through its AI semiconductor supply partnership with Broadcom, a key collaborator of Alphabet. SK hynix reversed early losses and finished 0.96 percent higher at 524,000 won, though its positioning as an Nvidia partner — rather than an Alphabet-linked supplier — capped its upside. AI component makers rallied, with Samsung Electro-Mechanics jumping 6.42 percent to 257,000 won. Prospects for a Ukraine war ceasefire fueled a surge in reconstruction-related plays. Hyundai Engineering & Construction rose 7.73 percent to 65,500 won, Samsung C&T gained 3.28 percent to 236,000 won, and nuclear energy firm Doosan Enerbility advanced 5.71 percent to 77,700 won. ESS and battery stocks also enjoyed a sharp rebound on renewed confidence in AI-led demand. Samsung SDI rose 7.03 percent to 304,500 won, and LG Energy Solution climbed 5.32 percent to 435,500 won. Japan’s Nikkei 225 rose 1.85 percent to 49,559.07. Gains in semiconductor equipment bellwethers were more muted: Advantest rose 1.99 percent to 19,460 yen ($124.58), and Tokyo Electron inched up 0.23 percent to 31,170 yen. Ibiden, a key Nvidia partner, fell 3.75 percent to 10,905 yen after plunging more than 7 percent earlier. SoftBank Group rebounded 5.65 percent to 16,260 yen after a sharp drop the previous day tied to its OpenAI exposure rather than Alphabet’s ecosystem. Taiwan’s TAIEX also joined the rally, rising 1.85 percent to 27,409.54. MediaTek — reportedly involved in designing Alphabet’s next-generation AI chip — surged 9.7 percent to 1,300 Taiwan dollars ($41.5), while TSMC rose 1.77 percent to 1,440 Taiwan dollars on expectations of increased TPU manufacturing. In mainland China, the Shenzhen market led gains with the SZSE Component rising 1.02 percent to 12,907.83, driven by a surge in communication equipment stocks on expectations of increased state investment in information infrastructure. Shandong Zhongji Electrical jumped 13.21 percent to 543 yuan ($76.6). The Shanghai Composite slipped 0.15 percent to 3,864.18, weighed down by weak domestic consumption. The index’s heavy weighting toward state-owned enterprises, financial firms, and consumer staples amplified the impact of China’s slowdown. China’s 10-year Treasury yield fell to 1.83 percent on Nov. 21 — below Japan’s 1.84 percent — underscoring prolonged economic malaise. Hong Kong’s Hang Seng Index erased early gains and was trading nearly flat at 25,930 as of 4:45 p.m., up just 0.14 percent. 2025-11-26 17:42:21