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Belgium marks King's Day in Seoul with focus on deepening ties SEOUL, November 14 (AJP) - The Embassy of the Kingdom of Belgium hosted a King's Day reception in Seoul on November 13, 2025, bringing together about 200 diplomats, business figures, academics, and media representatives at the Four Seasons Hotel. The evening combined national-day tradition with a look ahead to the 125th anniversary of Belgium–South Korea diplomatic relations next year. Opening his remarks, Ambassador Bruno Jans greeted the audience by saying, "Good evening, friends of Belgium," before reflecting on the roots of King's Day and the Belgian monarchy. He noted that the occasion pays tribute to Belgium's first king, Leopold I, and added, "This year marks the 12th anniversary of His Majesty King Philippe's accession to the throne." The ambassador emphasized that 2026 will be a significant year for both countries. "2026 will mark 125 years of diplomatic relations between Korea and Belgium, established in 1901," he said, recalling the history that links the two nations. He also pointed to another milestone next year, noting, "It will also mark 75 years since Belgian troops arrived during the Korean War." The embassy held a design competition for the 125th anniversary emblem, which drew 58 submissions from Belgium and South Korea. "Good things come in pairs," the ambassador said as he explained that the anniversary of bilateral relations and the wartime commemoration would frame next year's program of events. Reflecting on recent exchanges, the ambassador said Belgium had seen a year of "high-level visits," and highlighted the growing number of cultural and educational links. He also welcomed progress toward establishing a Belgian chamber of commerce in South Korea to support business cooperation. The reception featured performances by cellist Kang Seung-min, a laureate of the Queen Elisabeth Competition in Brussels, along with the saxophone quartet S.with. Guests continued conversations over the reception that followed, sharing views on the busy year of commemorative events planned for 2026. 2025-11-14 16:34:56 -
Beloved bagel chain becomes flashpoint in Korea's labor reckoning SEOUL, November 14 (AJP) - On most mornings, the line outside London Bagel Museum used to stretch down the block, a testament to the artisanal bakery chain’s grip on South Korea’s cafe-obsessed culture. Now the street is quiet, its pause in foot traffic reflecting a deeper national unease. The sudden death of a 26-year-old employee at the chain has ignited a furious backlash over long-standing labor abuses in the country’s food and beverage sector, where exacting hours, precarious contracts and relentless customer demand have long been treated as the price of success. According to data released by the National Assembly, London Bagel Museum recorded 63 industrial accidents approved for state compensation between 2022 and September 2025 — more than far larger food conglomerates such as SPC Samlip. Labor authorities have begun expanding inspections across the chain’s affiliates, citing evidence of repeated violations. The victim, a young worker at one of the brand’s busiest locations, had reportedly logged up to 80 hours in the week before he died, with months of 58-hour averages preceding it. The company has denied wrongdoing, attributing discrepancies to “attendance system errors,” while declining to hand over full timecard records to investigators. Employees say the problem runs deeper. Workers have described signing one-month “split contracts” designed to evade overtime obligations and being ordered to publicly read written apologies during morning meetings for small mistakes — a form of humiliation management that labor organizers say is common in the franchise sector. The scandal has revived memories of earlier tragedies. In 2022, a young worker was killed in a mixing machine at an SPC Group factory, prompting promises of sweeping reforms and a pledge to spend 1 trillion won ($730 million) on safety upgrades. Another worker died less than a year later. Watchdog groups note that only 0.3 percent of the promised funds appear to have gone toward hiring safety personnel. Behind the recurring crises is a structural problem, experts say: the nation’s labor protections were designed for mid- and large-sized companies, not for the patchwork of tiny franchise units that dominate the booming F&B landscape. “The core problem is that Korea’s labor law focuses on regular employees in larger firms, while most franchises operate with fewer than five workers,” said Lee Joo-hee, a sociology professor at Ewha Womans University. “These workers — often young and temporary — end up excluded from even basic protections like limits on working hours.” Government data show F&B employees work an average of 50.2 hours a week, the highest of any service industry. More than one-third are part-time or irregular workers. Yet the domestic bakery market has continued to swell, reaching 8.4 trillion won ($6.3 billion) last year, fueled by demand for premium brands like London Bagel Museum and SPC’s La Granus. Labor activists say that unless the government addresses the proliferation of subcontracting, unstable employment arrangements and enforcement gaps, the tragedies will only continue. The Labor Ministry is now reviewing new regulations that would mandate direct employment and full disclosure of work-hour data across the industry. For now, the crowds have thinned, and the country’s most sought-after bagel shop has become an unsettling symbol of a deeper crisis. What once looked like a booming culinary success story is now a stark reminder of the workers who kept it running — and the system that failed them. 2025-11-14 16:28:48 -
US to cap tariffs on Korean pharmaceuticals at 15 percent SEOUL, November 14 (AJP) - The United States has agreed to cap tariffs on South Korean pharmaceutical products at 15 percent, offering welcome relief to an industry that had faced threats of tariffs as high as 100 percent. The commitment was outlined in a joint fact sheet issued Friday (KST) by the White House and South Korea’s presidential office, following last month’s bilateral summit. The document states that Washington will ensure tariffs on Korean pharmaceutical goods do not exceed 15 percent. The agreement is tied to Seoul’s sweeping $350 billion investment plan in the U.S., with $200 billion earmarked for strategic industries and $150 billion for shipbuilding. In return, reciprocal U.S. tariffs on Korean automobiles, parts and other products will be lowered from 25 percent to 15 percent. “We view this as a very positive and fortunate outcome — pharmaceutical goods have been confirmed to receive most-favoured-nation treatment with a 15 percent tariff,” said the Korea Pharmaceutical and Bio-Pharma Manufacturers Association in a statement. The association noted that while generic drugs will maintain duty-free status, the fact sheet did not mention biosimilars, a gap it said will require monitoring. Likewise, the Korea Biotechnology Industry Organization welcomed the affirmation and said Korean firms were prepared for the worst. “Most domestic pharmaceutical and biotech companies expanding into the U.S. market — such as Celltrion — have taken steps to minimise tariff burdens by establishing contract-manufacturing facilities in the United States, so the impact is expected to be limited,” the organisation said. 2025-11-14 15:53:09 -
Lee to embark on South African trip for G20 summit SEOUL, November 14 (AJP) - President Lee Jae Myung will embark on a trip to attend the Group of 20 (G20) summit in South Africa next week, National Security Adviser Wi Sung-lac said during a press briefing on Friday. The multilateral gathering of global leaders is scheduled to take place in Johannesburg from Nov. 22 to 23, marking the first G20 summit held on the African continent. Lee is set to depart for the United Arab Emirates (UAE) on Monday, followed by a visit to Egypt before heading to South Africa. After a brief stop in Turkey, he is scheduled to return home on Nov. 26. 2025-11-14 15:04:03 -
Indian Film Festival opens in Seoul with focus on storytelling and cultural ties SEOUL, November 14 (AJP) - The 13th Indian Film Festival opened this week at the Korean Film Archive in Seoul, bringing a lineup of award-winning and widely acclaimed films to audiences in South Korea. The festival, organized by the Embassy of India together with local partners, began on November 12 with an evening ceremony attended by diplomats, cultural officials and film enthusiasts. Deputy Chief of Mission Nishi Kant Singh welcomed guests by noting how the festival has become a meeting point for shared cinematic appreciation. "Each year, the Indian Film Festival unites us in a powerful celebration of storytelling, deepening our collective cinematic bond and honoring the boundless creativity, diversity, and spirit of Indian cinema," he said. Singh highlighted the broader context of the event, pointing to the cultural dimension of India–South Korea relations. He said the two countries share more than trade and technology ties, adding that films remain one of the clearest ways to strengthen people-to-people understanding. "Films hold a unique power in strengthening people-to-people connections — transcending language and geography to touch hearts and inspire understanding," he said. This year's program includes titles such as 12th Fail, Manjummel Boys, English Vinglish, Zindagi Na Milegi Dobara, Hellaro and Anur (Eyes on the Sunshine). Screenings will continue through November across several cities, including Busan, Incheon, Yangsan, Miryang, Suncheon and Gwangju. The festival is running in partnership with the Korean Film Archives, Busan Cinema Centre, India Centre, Busan University of Foreign Studies, Mirim Theatre and the Asian Culture Centre. Singh also noted how Korean content has gained strong traction globally, including in India. He referenced films and series that have drawn international attention in recent years, describing them as examples of how locally rooted stories can reach audiences far beyond their home market. The Seoul leg of the festival continues at KOFA through November 15, with online reservations available via the Korean Film Archive website and on-site ticketing offered when seats remain available. 2025-11-14 14:53:25 -
South Korea tightens quarantine on Chinese poultry after detecting avian influenza genes SEOUL, November 14 (AJP) - South Korea has tightened inspections on processed poultry from China after the country’s quarantine authority detected genes linked to avian influenza in a shipment of duck ham. The Animal and Plant Quarantine Agency said Friday that the 21-ton shipment, imported on Nov. 2, tested positive for AI genetic material during routine screening. Officials emphasized that the finding did not involve a live virus and posed no risk of infection. The products were either destroyed or sent back and never reached consumers. The batch originated from a facility located near a Chinese plant where AI genes were found in August — a discovery that prompted Seoul to suspend imports from that site at the time. Now, regulators are expanding their caution. The agency has temporarily blocked imports from all producers within the same industrial complex and plans to run enhanced inspections on processed poultry from two additional areas in Inner Mongolia over the next month. “We will continue rigorous inspections of imported livestock products to prevent the entry of animal diseases,” said Choi Jeong-rok, the agency’s chief. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-14 14:38:27 -
South Korea, US release details of bilateral trade and security agreements SEOUL, November 14 (AJP) - South Korea and the U.S. have completed a joint fact sheet detailing the two countries' trade and security agreements, President Lee Jae Myung said during a press briefing on Friday. "Trade negotiations and security consultations, the biggest variables affecting the country's national security and the economy, have finally been concluded," Lee said. It comes about two weeks after Lee reached a tariff-related deal with U.S. President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in Gyeongju late last month. The agreement includes Seoul's US$350 billion investment plan in the U.S., with $200 billion allocated to strategic industries and $150 billion to shipbuilding, in return for lowering reciprocal tariffs on cars, parts, and other products from 25 percent to 15 percent. To minimize the impact on the foreign exchange market, the annual investment cap is set at $20 billion. The fact sheet includes Washington's approval of South Korea's plan to build nuclear-powered submarines using U.S.-supplied fuel, as well as a U.S. commitment to support for reprocessing spent nuclear fuel and enriching uranium. In a statement released by the White House, the U.S. said it "supports the process that will lead to civil uranium enrichment and spent fuel reprocessing for peaceful uses." The fact sheet also includes provisions regarding the continued presence of American forces here and the transfer of wartime operational control to South Korea during Lee's term. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-14 14:29:48 -
HMM's $2.8 billion value slide fuels talk of POSCO takeover SEOUL, November 14 (AJP) - HMM's market value has fallen by more than 4 trillion won ($2.8 billion) in the past five months, sharpening speculation that POSCO Holdings could soon move to acquire South Korea's largest container line as the carrier struggles with collapsing freight rates and a steep drop in profits. POSCO signaled last month during its third-quarter earnings call that a potential deal remained in its "early review" phase and that no significant progress had been made. Still, people familiar with the matter say the steelmaker has assembled a heavyweight advisory team — including Samil PwC and Boston Consulting Group — to explore the feasibility of an acquisition. The renewed scrutiny comes as HMM on Thursday posted an earnings shock for the July-to-September period. Operating profit plummeted 80 percent from a year earlier to 296.8 billion won, deepening the decline from the second quarter, when income slipped 64 percent. The carrier blamed the rout on deteriorating global shipping conditions. The Shanghai Containerized Freight Index averaged 1,481 points in the third quarter, down 52 percent from a year earlier, as trade volumes weakened under escalating tariff disputes and a glut of Chinese capacity weighed on prices. HMM said its performance remained "relatively high' in a depressed market, but investors have been unconvinced. The company's shares have dropped 19 percent since mid-June to 19,420 won as of Thursday market closure, erasing roughly 4.5 trillion won in market capitalization and bringing its value to 18.35 trillion won. Analysts see little chance of a rebound as geopolitical tensions and pricing pressure persist. "Global container market rates remain fluid depending on carriers' supply adjustments, with structural limitations to fare increases," said Jung Yeon-seung, an analyst at NH Investment & Securities. "While HMM is diversifying its fleet led by bulk carriers, near-term operating profit recovery will be challenging as container rates stabilize downward." For POSCO, timing may be favorable. HMM's share price now sits nearly 30 percent below the 26,200 won price used in the company's 2.2 trillion won buyback completed in September. Attention is focused on whether the carrier's main shareholder, state-owned Korea Development Bank, will move to divest its stake. POSCO has acknowledged that it is reviewing potential synergies from an acquisition, though KDB has said all options remain open. The Korea Ocean Business Corporation, which holds a similar-sized stake, said it is working to identify a "private" owner for HMM but stressed that discussions remain preliminary. "We alone cannot make any decisions, and we are to cooperate with any decisions made with related government bodies," a KOBC spokesperson said. HMM — formerly Hyundai Merchant Marine — absorbed key assets and the trans-Pacific East Coast route of Hanjin Shipping after its collapse in 2017. KDB owns 35.42 percent of the company and KOBC 35.08 percent, with their combined stakes temporarily diluted during the share buyback before rising again after a retirement of roughly 8.1 percent of outstanding shares. POSCO faces mounting pressures of its own, including weak steel demand, high U.S. tariffs and persistent Chinese dumping. Its fast-growing battery materials division is also pushing forward with diversification amid sluggish electric vehicle sales. The group spends an estimated 3 trillion won annually on logistics to import coal, iron ore and battery materials, and it has argued that an HMM acquisition could lower freight costs while offering a hedge against global supply-chain disruptions. But the idea has met resistance from Korea's shipping industry. The Korea Shipowners' Association and several domestic operators have voiced strong opposition, warning that "if POSCO, whose main business is steel, acquires HMM, not only will professional shipping management become difficult, but the entire Korean shipping industry will face heightened risks should POSCO's business deteriorate." 2025-11-14 14:28:19 -
Study finds crypto prediction markets drew global attention to S. Korea's impeachment SEOUL, November 14 (AJP) - A research paper published on November 12, 2025, in the MDPI-published journal Information examines how cryptocurrency users around the world reacted to and financially engaged with South Korea's 2024 impeachment crisis. The article, titled "From E-Democracy to C-Democracy: Analyzing Transnational Political Discourse During South Korea's 2024 Presidential Impeachment on Polymarket," analyzes real-time activity on a blockchain prediction platform during the constitutional showdown. The study was conducted by Park Han-woo, Kim Jae-hun, and Norhayatun Syamilah Osman of YeungNam University's Digital Convergence Business program, Cyber Emotions Research Center and Big Local Big Pulse Lab. Park, who has examined digital political behavior for many years, shared the publication to highlight how online engagement is changing as financial tools and Web3 platforms become more common. The paper focuses on Polymarket, a blockchain-based prediction site where users place bets on political outcomes using cryptocurrency. On December 14, 2024, as the National Assembly passed the impeachment bill, more than 15.8 million dollars had already been wagered on whether the president would leave office before the end of the year. Users overseas adjusted their positions in real time as events unfolded in Seoul. The authors describe this emerging pattern as "cryptocurrency-enabled democracy," or c-democracy. In this model, political conversation and financial speculation take place in the same space. Users debate, share links, or post casual remarks while expressing their expectations through money staked on the result. The study analyzed 582 comments from 83 users shortly after the vote. Although Polymarket does not release demographic information, many commenters identified themselves as posting from the United States, Europe or Asia. The authors argue that this shows how prediction markets can create transnational communities around domestic political events. Distinct user groups appeared in the data. Some posted detailed political analysis and outside sources, while others reacted with short comments or memes. A smaller group placed large wagers while saying very little. One of the study's key observations is that expressive participation and financial participation did not always align. The authors acknowledge the limits of studying a single event and a crypto-literate user base, but they note that the impeachment crisis offered a clear view of how online political participation is evolving as digital communities and financial tools overlap. The study was submitted on September 30, revised on November 6, accepted on November 8 and published on November 12 by MDPI. The publisher operates a large network of open-access journals and is recognized for its rapid publication. 2025-11-14 13:55:58 -
KAI, Samsung team up to develop AI chips for defense systems SEOUL, November 14 (AJP) - Korea Aerospace Industries has formed a strategic partnership with Samsung Electronics to develop next-generation semiconductors for defense applications. KAI said Friday that it had signed a memorandum of understanding with Samsung at its headquarters in Sacheon, South Gyeongsang Province, to cooperate on the research, design and production of artificial intelligence and radio-frequency chips for aerospace and defense systems. The companies plan to establish joint working groups and build a long-term technology roadmap that adapts advanced civilian semiconductor technology for use in military hardware. The initiative is part of a broader effort by KAI to localize critical components used in weapon systems, from communications to sensors, amid rising geopolitical uncertainty and global supply-chain disruptions. Defense semiconductors require exceptional reliability and security standards, and the companies said they would prioritize meeting those demands while developing a more resilient supply base. KAI said the partnership would expand over time to include a wider range of defense-focused chip technologies and broader ecosystem development. “This strategic partnership with Samsung, a global leader in semiconductors, will be crucial for developing on-device AI semiconductors in the defense sector,” Cha Jae-byeong, KAI’s chief executive, said in a statement. “We aim to enhance South Korea’s defense industry and sovereign AI competitiveness.” Han Jin-man, president of Samsung’s foundry division, said the agreement would help advance the localization of defense-grade AI chips while reinforcing the domestic semiconductor ecosystem. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-14 13:45:32