Stray Kids earn six new RIAA certifications SEOUL, November 27 (AJP) - K-pop boy band Stray Kids received six new certifications from the U.S. Recording Industry Association of America (RIAA) on Wednesday. They earned a "gold" certification for their latest album "Karma," after selling over 500,000 copies in the U.S. since its release in August this year, bringing their total certified albums to six, including the previous ones like "Ate," "Maxident," and "5-Star." They also received four more certifications for their singles such as "Case-143," "Chk Chk Boom," "Lalalala," and "S-Class." Additionally, "God's Menu," the lead track from their album "Go Live" released in June 2020, earned their first “platinum” certification after selling over one million copies there. Originally created to recognize artists and track recording sales, the certification programs "have come to stand as a benchmark of success for any artist - whether they've just released their first song or a greatest hits album," according to the RIAA. Meanwhile, Stray Kids continue to make history on the Billboard 200 chart, as "Karma" ranks 45th this week, marking 13 consecutive weeks in the top 100. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 16:46:08

Sticky prices and weak won to stretch Korea's belt-tightening to next year SEOUL, November 27 (AJP) - Koreans tightened their belts through most of the year as stubborn inflation and the steepest depreciation of the won eroded purchasing power, government data showed Thursday. Nominal household income rose 3.5 percent on year in the July–September period to 5,439,000 won ($3,713), while real income—adjusted for inflation—grew 1.5 percent, supported largely by government stimulus handouts, according to the Ministry of Data and Statistics. But the aid program did little to lift actual spending. Real household consumption fell for a third straight quarter, the longest downturn since the pandemic-hit year of 2020, underscoring the gap between chilled domestic demand and the hot stock, housing, and chip-export markets powering broader economic data. The income boost was driven mainly by government-issued consumption coupons distributed between July and November. Earned income inched up 1.1 percent, and business income rose just 0.2 percent, while public transfer income — government benefits and subsidies — surged 40 percent to 744,000 won, the highest since records began in 2020. With income growth stagnating and inflation proving sticky, families cut back on their biggest discretionary burden — private education — and scaled down recreational spending. Household expenditures centered on essentials and summer vacations. Consumer sentiment improved sharply in November, reaching its highest level in eight years, but the optimism has yet to translate into stronger consumption. Debt remains a heavy drag. Households are unlikely to see further relief after Bank of Korea Governor Rhee Chang-yong signaled an end to the easing cycle to curb leveraged asset investment and defend the sinking won. As of Nov. 20, outstanding household loans at the five major commercial banks stood at 769.27 trillion won, up 2.65 trillion won in November alone — already exceeding October's full-month increase. Daily loan growth has climbed to its fastest pace since July. "Given the three- to six-month lag in the pass-through from a weak won to import prices and then consumer prices, inflation pressure is likely to build during the first half of next year," said Kim Myung-sil, analyst at iM Securities. "The rise in market rates and diminished expectations for a rate cut will weigh on business investment — particularly in construction — and hurt household consumption," added Park Ju-noo, analyst at Hana Securities. 2025-11-27 16:31:27

LG Electronics names home appliance chief as new CEO SEOUL, November 27 (AJP) - LG Electronics has appointed Ryu Jae-cheol, head of its Home Appliance & Air Solution (H&A) division, as chief executive officer, replacing Cho Joo-wan. The board approved the leadership change on Thursday as part of its executive appointments and organizational restructuring. Ryu, known for his technical background and operational experience within LG’s flagship appliance unit, will be tasked with sharpening the company’s competitiveness across all business lines. The reshuffle includes 34 executive promotions with two new presidents, two vice presidents, nine senior executives and 21 executives. Cho Joo-wan, who stepped down as CEO, is credited with laying the groundwork for a more service-oriented business model and improving LG’s global competitiveness. The leadership handover marks the company’s first CEO change in four years. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 16:14:59

Kia successfully tests remote driving on public roads SEOUL, November 27 (AJP) - Kia has become the first South Korean automaker to successfully demonstrate remote driving on public roads. Remote driving allows a vehicle without a driver to be operated from a control center via 4G and 5G mobile networks. Considered a near-term solution compared with fully autonomous systems, the technology can intervene when self-driving functions fail and is drawing growing interest for applications in car-sharing, logistics and mobility support in underserved areas. Kia received a regulatory sandbox exemption from the transport ministry in April, clearing the way for pilot operations. It then formed a team with Socar, SUM and KT to conduct demonstrations in Jeju and Hwaseong. Under the partnership, Kia led the overall project; Socar provided its car-sharing platform; SUM developed remote driving solutions and operated test vehicles; and KT supplied network infrastructure. The consortium built a remote-operation system for Kia’s PV5 purpose-built vehicle, with reinforced communications and safety controls. Following initial internal testing, the group conducted a one-month road trial in Jeju. The PV5 vehicles logged roughly 70 hours of remote operation and about 1,000 kilometers on routes including Jeju Airport–Socar Terminal and Jeju Airport–Yongduam. Data gathered from the Jeju trial will be used to further refine the technology, with additional tests planned in collaboration with local governments. “Remote driving technology can improve convenience for citizens in areas with limited public infrastructure and can be expanded to various industries such as car-sharing and logistics,” a Kia official said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 15:55:39

No-fly zone around Cheong Wa Dae to expand as Lee prepares to move in SEOUL, November 27 (AJP) - A no-fly zone around the former presidential office of Cheong Wa Dae in central Seoul is expected to be expanded, once President Lee Jae Myung returns to the palatial compound by the end of this year. Lee, who took office in early June following the impeachment of former President Yoon Suk Yeol over his botched Dec. 3 declaration of martial law, was unable to immediately use the compound due to the need to enhance security and overhaul facilities, and has been temporarily working at his predecessor's office in Yongsan. The current no-fly zone, which covers roughly a 3.7-kilometer radius around both the presidential office in Yongsan and a nearby residence in Hannam-dong, is likely to be expanded to 6.5 kilometers, nearly double the range. The expansion appears to be intended to counter intrusions and any potential attacks amid the growing threat posed by drones and unmanned vehicles. Meanwhile, with several months of extensive construction and renovation work nearly complete, Lee is expected to move in soon. 2025-11-27 15:44:09

Naver plays down Nasdaq talk as it moves to absorb crypto exchange Dunamu SEOUL, November 27 (AJP) - Naver has pushed back on speculation that its fintech arm could seek a Nasdaq listing after absorbing Dunamu, operator of South Korea's largest cryptocurrency exchange Upbit, as it must address regulatory hurdles before taking the big step. "We have no confirmed plans to pursue a Nasdaq listing for Naver Financial at this time," CEO Choi Soo-yeon said Thursday at a press briefing at Naver's headquarters in Seongnam. "Even if we consider going public in the future, we will prioritize enhancing shareholder value and contributing to the development of capital markets." Her remarks came a day after the board approved a stock-swap deal giving Naver Financial full ownership of Dunamu. Under the terms, each Dunamu share will be exchanged for 2.54 shares of Naver Financial, valuing Dunamu at roughly 15 trillion won and Naver Financial at about 5 trillion won. The transaction—about $14 billion in implied value—faces extensive regulatory scrutiny. The Financial Supervisory Service will review whether the merger could infringe shareholder rights or create financial-stability risks by combining mobile payments with cryptocurrency services. The Fair Trade Commission is expected to assess whether integrating Naver's vast user-data network with Dunamu's crypto-trading data could create undue market power. Meanwhile, South Korea's digital-asset rulebook remains unsettled. A bill governing stablecoin issuance and the broader Digital Asset Basic Act has been held up amid disagreements between the Bank of Korea and ruling-party lawmakers, injecting further uncertainty into the approval process. Regulators may take a year or longer to complete their review. If the merger is cleared and the combined unit seeks an IPO, listing venue will be a pivotal decision. A Nasdaq debut is considered plausible: Naver already trades on the KOSPI, and leaving Dunamu shareholders with non-voting, unlisted shares would likely trigger opposition. Naver also has recent U.S. market experience through last year's listing of Webtoon Entertainment. "A Nasdaq listing would significantly boost Naver Financial's credibility and open doors to global institutional investors," said Hwang Suk-jin, professor at Dongguk University's Graduate School of International Affairs and Information Security. "The timing may not be now, but the opportunity remains open." Mirae Asset Securities, previously the second-largest shareholder of Naver Financial with a 30 percent stake, declined to comment on potential IPO plans but welcomed the merger decision. Dunamu said it had no information to share regarding listing intentions. Upon closing, Dunamu Chairman Song Chi-hyung is expected to become the largest shareholder of the combined entity with about 19.5 percent. Naver's stake in Naver Financial would fall from 69 percent to roughly 17 percent. Shareholders vote May 22, with the deal slated to close by June 30 if approved. The merger news was tempered Thursday when Dunamu disclosed that about 54 billion won in Solana-based assets had been transferred to an undesignated wallet early that morning, prompting Upbit to suspend all crypto deposits and withdrawals. The company said it would cover any losses with its own assets and stressed that customer funds would not be affected. 2025-11-27 15:41:44

PHOTOS: Farewell to actor Lee Soon-jae SEOUL, November 27 (AJP) - The funeral for beloved South Korean actor Lee Soon-jae was held Thursday morning at the Asan Medical Center in Seoul. Younger colleagues shed tears as they bade a final farewell to Lee, a veteran who maintained an undying passion for acting throughout a lifetime spanning theater, television, and film. In her eulogy, actress Ha Ji-won paid tribute to his legacy. "He was not only an iconic actor representing Korea, but a true artist who never lost his humility before his craft and never ceased to question himself," she said. 2025-11-27 15:13:27

Teaching remains top career choice among schoolchildren SEOUL, November 27 (AJP) - Becoming an athlete was the most frequently cited future dream among elementary school students when asked what they want to be, while middle and high school students most often said they want to become teachers, a survey released on Thursday reveals. The annual survey of about 12,000 students conducted in May and June by the Ministry of Education by the Ministry of Education and the Korea Research Institute for Vocational Education and Training, showed similar results to the previous year, as many schoolchildren dreamed of securing stable jobs like teaching. Among elementary students, becoming an athlete topped the list at 14.1 percent, maintaining its lead for eight consecutive years since 2018. It was followed by doctor (6.6 percent), YouTuber (4.8 percent), teacher (4.5 percent), and chef (3.9 percent), with rankings unchanged from last year. But the most sought-after job among middle school students was teacher at 7.5 percent, followed by athlete (5.4 percent), doctor (3.6 percent), police officer (3.2 percent), and nurse (2.9 percent). Teaching was also the most favored career among high school students at 7.6 percent. Becoming a teacher has been the top choice for middle and high school students since 2015. Some 64.9 percent of high schoolers want to attend college, slightly down from 66.5 percent last year, while those seeking employment rose 2.3 percentage points to 15.6 percent. About 11.2 percent remain undecided. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 15:05:10

Funeral held for South Korean volunteer killed in Ukraine SEOUL, November 27 (AJP) - A funeral was held in Kyiv earlier this week for a South Korean man who died fighting in Russia's war in Ukraine, the Ministry of Foreign Affairs here said on Thursday. Ukrainian authorities informed the South Korean government of his death, and his funeral service was held last Tuesday, with South Korean consular officials in attendance. Identified by his last name Kim, the man in his 50s is believed to have been killed earlier this year during combat in Donetsk in southeastern Ukraine. The ministry has been providing consular assistance to Kim's family. Further details about his identity have not been disclosed, but AFP released images showing Ukrainian soldiers honoring him beside a coffin draped with the South Korean flag. Reports of South Koreans volunteering to fight in Ukraine have surfaced previously, but the actual number of people who went there remains unknown. Among them was Rhee Keun, a famous YouTuber and former special warfare officer in the South Korean Navy. In March 2022, he flew to Ukraine to help fight against the Russian invasion but returned home just two months later due to injuries and shared some of his battlefield experiences from the front lines. It is illegal for a South Korean national to take part in a war in another country without government authorization, and offenders face at least one year behind bars. Rhee said at the time, "I could not sit idly by without using my military tactics and expertise to help Ukraine just because I was afraid of punishment. If I return alive, I will take responsibility for my actions." He was handed down a suspended prison sentence for illegally entering Ukraine to fight as a volunteer soldier, along with multiple other charges. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-27 14:25:30

South Korean food firms tap K-beauty boom for new growth SEOUL, November 27 (AJP) - South Korean food companies are accelerating their push into cosmetics and “inner beauty” products as slowing consumption and rising costs squeeze margins in their core businesses. The globally recognized K-beauty sector — supported by steady global demand and a strong manufacturing base — is emerging as an attractive diversification route. Industry sources say hy has expanded its probiotics research into skincare, developing products that use its HY7714 skin probiotic strain. Since debuting its first ampoule in 2023, the company has rolled out sunscreen and modeling packs, reinforcing a brand strategy that links nutritional supplements with topical skincare. Other firms are securing manufacturing capabilities directly. HiteJinro Group, best known for its alcoholic beverages, acquired cosmetics ODM producer B&B Korea — maker of brands such as d’Alba and Medicube — through its subsidiary Seoyoung E&T. The move enables the group to extend its portfolio into broader lifestyle businesses. Shinsegae Food has opted for an investment-led approach, committing 50 billion won to C&C International, a color cosmetics ODM company. Through participation in the “Beauty Synergy 2025 Private Equity Fund” established by Ascent Equity Partners, the company secured a 36.9 percent stake. The investment is aimed at establishing a stable revenue source without taking on direct manufacturing or sales operations. Companies are drawn to the beauty sector’s different profit structure. Food production is vulnerable to swings in global grain prices and logistics costs, while cosmetics typically face lower cost volatility. Premium and high-functionality products also tend to deliver higher gross margins, with branding and channel strategy playing an outsized role. Food companies, analysts say, can leverage strengths in raw-material development, quality control and marketing as they expand into beauty. K-beauty’s global growth is another factor. South Korean cosmetics exports reached a record $5.5 billion in the first half of the year, up 14.8 percent from a year earlier, according to customs data. Markets are diversifying beyond China and the United States, with exports to South America climbing from $15.3 million in 2020 to $70.2 million last year, driven by rising demand in Brazil, Chile and other emerging markets. “With domestic food consumption stagnating, there’s mounting urgency around finding new growth drivers,” an industry official said. “K-beauty, with its expanding global footprint, is increasingly seen as a promising option.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-27 14:23:38