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Half of high-ranking officials own multiple homes SEOUL, November 18 (AJP) - Nearly half of high-ranking government officials including lawmakers own two or more homes, a recent analysis shows. The analysis of some 2,581 senior officials, released by corporate tracker Leaders Index on Tuesday, found that 48.8 percent hold multiple homes, with 17.8 percent owning at least three. Real estate accounts for 58.7 percent of their total assets estimated at 5.71 trillion won. Apartments make up 58.9 percent, followed by sprawling private residences at 16.6 percent, multi-unit buildings at 8.6 percent, and others. Government officials own an average of 1.89 homes each, local government heads 1.87, and lawmakers 1.41. Nearly 30 percent of these properties, worth 1.33 trillion won, are concentrated in Seoul's affluent districts of Gangnam, Seocho and Songpa, south of the Han River. Cho Sung-myung, a district chief of Gangnam, owns the most properties, with 42 residential units and buildings. Among lawmakers, Park Min-kyu of the ruling Democratic Party (DP) owns the most, with more than a dozen properties including an apartment in Seocho and 11 studios in Gwanak, southwestern Seoul. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 10:40:38 -
LG H&H's wearable skincare device wins CES Innovation Award SEOUL, November 18 (AJP) - LG H&H's wearable skincare device “Hyper Rejuvenating Eye Patch” has been named the winner of CES 2026 Innovation Award in the beauty tech category, the company said Tuesday. The product combines skin-analysis algorithms, customized ingredient delivery and controlled light therapy in a lightweight wearable. The system comprises an AI-based skin diagnosis program, a bio-mimicking patch, a flexible LED patch and a headband controller. To use the device, AI scans and interprets aging indicators — including fine lines, wrinkles and dark circles — drawing on a database of 60,000 individuals. It then recommends specific cosmetic ingredients and delivers them to the skin through a suction-inspired patch designed to boost absorption. The patch technology was first introduced in April by the company’s luxury brand, The History of Whoo, under the name “Skin Activator Patch.” “We will continue integrating personalized solutions with next-generation wearables to deliver new customer experiences through future beauty tech research,” said Kang Nae-kyu, chief technology officer at LG H&H. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-18 10:34:39 -
POSCO chief calls for tech-led strategy to withstand global volatility SEOUL, November 18 (AJP) - POSCO Group Chairman Jang In-hwa called for stepped-up technological innovation to help the steel conglomerate manage an increasingly unpredictable business landscape, telling employees the company must accelerate development efforts and reinforce long-term competitiveness. Speaking Tuesday at the POSCO Group Tech Forum, Jang said the company needs a more collaborative approach to research and development as it adapts to shifts in global supply chains and demand patterns. “The importance of resource acquisition in steel and battery materials cannot be overstated,” he said, adding that employees should strengthen AI capabilities to support the group’s broader digital transformation. The two-day forum gathered more than 1,300 executives, engineers and researchers to review the company’s latest technological achievements and debate future priorities. The event was launched in 1989 as POSCO’s flagship platform for charting its R&D agenda. Since assuming office, Jang has pushed an innovation-led strategy, aiming to fortify the company’s existing steel and secondary battery materials businesses while identifying new areas of growth through a unified corporate R&D framework. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 10:13:33 -
PHOTOS: Kimchi — symbol of communal love, sharing SEOUL, November 17 (AJP) - As the cold grip of winter descends, kimchi transcends its role as a staple food in South Korea to become a powerful symbol of communal love and sharing. This spirit was vividly on display in Seoul on Nov. 17, where a massive kimchi-making event took place at Garak Market in Songpa-gu. It was to prepare thousands of heads of kimchi destined for low-income families and elderly residents living alone. Enduring the biting wind, volunteers worked tirelessly, stuffing salted cabbage leaves with a vibrant, pungent red seasoning. The spicy fragrance of the seasoning filled the chilly air as mountains of freshly prepared kimchi were meticulously stacked. Known as the Garak Kimjang Festival, this event is celebrating its 18th anniversary, having been a continuous tradition of giving since 2008. The event is a true community effort. Funding is secured through a collaboration between market merchants and the city government, while the labor relies on a diverse group of volunteers, including local citizens, foreign residents, and children. This year, the participants collectively made an estimated 80,000 heads of kimchi. The entirety of the finished product is slated for delivery to 10,000 vulnerable households across Seoul. Historically, Kimjang — the annual process of making large quantities of kimchi to last through the winter — was a major, multi-day undertaking. The meticulous work, which involves salting the cabbage, blending the seasoning, and stuffing the filling, was a crucial time when families and neighbors gathered to prepare for the long winter. However, this grand scale has begun to shrink. Factors such as changing family structures, reduced domestic kimchi consumption, and a general labor shortage have led to a decrease in the overall volume of homemade kimchi. The sight of entire neighborhoods coordinating this effort is now rare. Despite these modern changes, kimjang endures. It remains a deeply established custom that actively connects and preserves the memory of the Korean community's collective spirit. 2025-11-18 10:01:22 -
North Korea condemns Seoul's recent security deal with Washington as 'confrontational' SEOUL, November 18 (AJP) - North Korea denounced a joint fact sheet released last week outlining trade and security agreements between Seoul and Washington, warning that it will take countermeasures against what it called a "confrontational stance," state media reported on Tuesday. In a lengthy commentary, the state-run possession of nuclear submarine, disregarding the danger of the global nuclear arms race to be incurred by the nuclear proliferation to a non-nuclear state, and gave green light for the enrichment of uranium and the reprocessing of nuclear waste fuel, thus laying a springboard for its development into the 'quasi-nuclear weapons state,'" it said. The "strategic move" is "bound to cause a 'nuclear domino phenomenon' in the region and spark a hot arms race," it added. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 09:31:58 -
Hyundai Motor Group bets big on driverless cars, humanoid robots SEOUL, November 18 (AJP) - Hyundai Motor Group is making one of the most aggressive wagers yet on artificial intelligence in the global auto industry, unveiling plans to spend roughly 51 trillion won — about $38 billion — in the coming years to build an AI-driven manufacturing ecosystem centered on autonomous vehicles and humanoid robots. The investment, stretching from 2026 to 2030, signals the company’s belief that the automobile is rapidly evolving from a machine designed for transport into a mobile platform that reshapes how people use their time. At the same time, Hyundai is betting that factories — long optimized for speed and cost — will soon need to operate with a level of autonomy that mirrors the vehicles they produce. “Our mid- to long-term goal is to establish AI infrastructure and an advanced AI robotics value chain to transform the automotive industry,” a Hyundai official said. A cornerstone of Hyundai’s plan is a high-power AI data center capable of processing the staggering volumes of information produced by autonomous vehicles and physical robots. This facility will store petabyte-scale datasets and train models that must continuously interpret a shifting world: road conditions, human behavior, mechanical wear, and countless other variables. The company is also building what it calls a “Physical AI Application Center,” designed as a proving ground where robots can be tested for safety and reliability before being deployed to industrial settings. Hyundai says this will support a new business in customized robots and AI-based manufacturing services — including foundry operations and tailored machine designs. The move comes as South Korea — despite its strengths in semiconductors and advanced manufacturing — lacks dedicated research hubs in physical AI. That gap has left Hyundai trailing competitors in the United States and China, where companies like Tesla, Boston Dynamics, now owned by Hyundai but still U.S.-based in origin, and several Chinese EV makers are racing ahead on autonomous driving and humanoid robotics. Hyundai argues that building out AI infrastructure is no longer optional. Autonomous vehicles rely on dense networks of cameras, sensors, and high-precision maps to make rapid decisions in unpredictable environments. In factories, humanoid robots must identify hazards in real time and adapt to complex work routines once reserved only for humans. The company says the long-term goal is to collapse the boundaries between Hyundai’s products and the factories that build them. In this vision, autonomous cars and factory robots feed data into shared AI systems that optimize not only manufacturing but the vehicles’ own performance on the road. It is a sweeping reimagination of the auto business — one in which software and physical intelligence drive value, and where the factory floor becomes as important as the showroom. “Integrating vehicles and factories into a single intelligent ecosystem is essential for the future of mobility,” a company representative said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-18 09:23:33 -
Indian minister pushes shipbuilding cooperation during visit to South Korea SEOUL, November 17 (AJP) - Shri Hardeep Singh Puri, India's Minister of Petroleum and Natural Gas, spent two days in South Korea meeting shipbuilding and shipping leaders as part of India's effort to expand maritime cooperation under the country's Maritime Amrit Kaal Vision 2047. The minister toured the HD Hyundai Heavy Industries shipyard in Ulsan on November 17, calling the visit productive. The shipyard, described by the Indian Embassy as the world's largest, covers 1,680 acres. He said India's fast-growing energy and shipping sectors, driven by the Make in India initiative and supported by a young population, offer what he called a "golden opportunity" for Korean shipyards to "Make in India for the World." He noted that nearly 20 percent of global vessels are expected to either arrive in or depart from India in the next fifteen years. He also reviewed progress under an existing agreement with Cochin Shipyard Limited, saying plans for a block fabrication facility are expected to be finalised soon. According to the release, India's public-sector companies can procure as many as fifty-nine crude, LNG and ethane vessels. The visit followed his meeting on November 16 with HD Hyundai Chairman Chung Ki-sun at the company's Global R&D Center in Seongnam. The delegation was briefed on HD Hyundai's ship design capabilities and smart shipyard operation systems. Discussions focused on how these technologies could support India's plans to expand its commercial fleet and strengthen domestic shipbuilding. HD Hyundai noted that India aims to increase its fleet from 1,500 to 2,500 vessels and invest USD 24 billion under the Maritime Amrit Kaal Vision, including USD 8 billion recently announced for fleet expansion. Earlier on November 17, the minister met senior executives from major Korean shipping companies: An Byung-gil of Korea Ocean Business Corporation, Kim Sung-ick of SK Shipping, Seo Myung-deuk of H‑Line Shipping, and Sung Je-yong of Pan Ocean. He stressed that energy and shipping are tightly linked to India's economic growth. India's crude and gas imports, valued at more than USD 150 billion, move entirely by sea, yet only about 20 percent of this cargo is carried on Indian-flagged or Indian-owned vessels, the embassy said. The minister also met Kim Hee-cheul, President and CEO of Hanwha Ocean, in Seoul. According to the embassy, he encouraged the company to look at opportunities emerging in India's shipbuilding sector under the Make in India initiative and said Indian public-sector companies are ready to work with Korean partners on manufacturing LNG and crude carriers. 2025-11-17 17:38:08 -
Korean stocks kept up buoyance amid broad Asian listlessness SEOUL, November 17 (AJP) - South Korean shares climbed nearly 2 percent on Monday, sustaining momentum across otherwise listless Asian markets after Seoul and Washington finalized a bilateral trade deal that opened new business opportunities for shipbuilders, energy infrastructure firms and defense manufacturers. The KOSPI rose 1.9 percent to 4,089.25, while the small-cap KOSDAQ gained 0.5 percent to 902.67. Semiconductor stocks led the advance. Samsung Electronics rose 3.5 percent to 100,600 won ($69), and SK hynix jumped 8.2 percent to 606,000 won as investors welcomed their domestic investment commitments totaling 833 trillion won ($571 billion). Samsung pledged 450 trillion won in spending and 60,000 new hires over five years, while SK confirmed 128 trillion won in domestic investment. The Yongin semiconductor cluster alone may grow to 600 trillion won, with at least 14,000 to 20,000 jobs expected by 2029. Hyundai Motor Group announced 125 trillion won in local investments through 2030 and plans to hire 10,000 workers next year. LG Group laid out a 100 trillion won investment roadmap, while Hanwha said it would spend 11 trillion won in shipbuilding and defense. HD Hyundai and Celltrion plan to invest 15 trillion won and 4 trillion won, respectively. Food stocks also posted strong rallies. Samyang Foods gained 4.9 percent to 1,385,000 won, while Nongshim surged 9.4 percent to 462,000 won. Samyang said its third-quarter operating profit climbed 50 percent on-year to 131 billion won, with sales up 44 percent to 632 billion won on robust exports to the United States and China. IBK Investment & Securities raised its target price to 1.75 million won, and Yuanta Securities set it at 2 million won. Nongshim reported third-quarter revenue of 871.2 billion won, up 2.4 percent, while operating profit rose 44.7 percent to 54.4 billion won, driven by overseas demand. Revenue from foreign subsidiaries increased 14.4 percent to 266.1 billion won, offsetting a slight domestic decline. Analysts noted that references to Nongshim-like snacks and noodles in the new K-pop film K-Pop Demon Hunters further lifted investor sentiment. Brokerages raised their targets across the board: NH Investment & Securities to 560,000 won, Korea Investment & Securities to 600,000 won, Shinhan to 570,000 won, Samsung Securities to 509,000 won and Daishin to 520,000 won. NH analyst Joo Young-hoon highlighted double-digit revenue growth in China, Japan and Australia, adding that improving U.S. sales may support a fourth-quarter rebound. Elsewhere in Asia, the Nikkei 225 slipped 0.1 percent to 50,323.91. Shares tied to tourism and Chinese consumer spending fell sharply as tensions between China and Japan escalated. Shiseido plunged as much as 11 percent intraday, while Pan Pacific International Holdings — operator of Don Quijote stores — dropped nearly 10 percent, according to Bloomberg. Daishin Securities analysts Moon Nam-jung and Moon Gun-woo said Chinese travelers accounted for more than 21 percent of Japan’s foreign tourism spending last year, warning that continued tensions could weigh on sentiment toward Japan’s economy and equity market. Concerns about tariff-driven inflation and fading expectations of a near-term U.S. rate cut also pressured Tokyo shares. As of Sunday U.S. time, CME FedWatch data showed traders pricing in a 55.6 percent chance the Federal Reserve will hold rates steady in December, compared with a 44.4 percent chance of a cut — a sharp shift from last month, when markets assigned a 90 percent probability to a cut. Shanghai’s benchmark index fell 0.5 percent to 3,972.03, while Hong Kong’s Hang Seng Index declined 0.8 percent to 26,354.42. As in Japan, Chinese shares were weighed down by rising friction between Beijing and Tokyo, with analysts adding that the pullback also reflects profit-taking after Chinese stocks gained nearly 20 percent earlier this year. 2025-11-17 17:37:04 -
South Korea proposes military talks with North to set clear demarcation line SEOUL, November 17 (AJP) - South Korea’s Ministry of National Defense has formally proposed talks with North Korea to establish a clear baseline for the Military Demarcation Line (MDL), in what would be the first military dialogue between the two sides since 2018. Kim Hong-chul, director of the ministry’s Defense Policy Office, said Monday that North Korean troops have repeatedly crossed the MDL while constructing tactical roads, laying fences and planting mines inside the Demilitarized Zone. The activity, he warned, has heightened tensions and increased the risk of unintended clashes. “This situation raises the possibility of accidental military conflict,” Kim said, urging the North to accept talks aimed at reducing tensions and preventing miscalculations. Seoul has proposed that the discussions take place through the inter-Korean liaison channel at Panmunjeom, with the timing and precise format to be arranged if Pyongyang agrees. Kim noted that the current disputes over the boundary stem from the deterioration and loss of many original MDL markers installed after the 1953 armistice, leaving both sides with differing views of the line’s exact location. A defense ministry official said the markers were placed under the supervision of the Military Armistice Commission in August 1953, but maintenance effectively ceased in 1973 after North Korean forces opened fire on UN Command personnel performing repairs. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-17 17:35:21 -
South Korea flags 210 suspicious foreign housing deals, plans crackdown SEOUL, November 17 (AJP) - The South Korean government said on Monday it had uncovered more than 200 suspicious housing transactions involving foreign nationals over the past year. According to the Real Estate Supervision Task Force, operating under the Prime Minister’s Office, a review of 438 housing transactions involving foreigners between June 2024 and May 2025 found that nearly half — 47.9 percent — showed signs of illegality or regulatory breaches. Officials plan to expand the probe to include non-residential properties and land transactions by the end of the year. Of the 210 flagged cases, authorities said 162 involved false reporting of transaction amounts or dates. Investigators also identified 58 instances of illegal fund transfers and loan misuses. The task force said it would refer the cases to the Ministry of Justice, the National Tax Service and other agencies for further action. Under South Korean law, unauthorized commercial activity by foreign buyers can draw penalties of up to three years in prison or fines of up to 30 million won. Tax authorities will also investigate the suspected cases and plan to impose back taxes if necessary. "The violations by foreign nationals pose risks to the country’s housing market, which has experienced volatility in recent years," said Kim Kyu-chul, director general at the Ministry of Land, Infrastructure and Transport. “We will continue efforts to maintain market order by eradicating illegal practices in foreign real estate transactions." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-17 17:13:31