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Asian markets rebound in tandem with Wall Street recovery SEOUL, November 06 (AJP) - Asian stocks closed higher on Thursday, snapping a sharp two-day selloff as easing concerns over an AI bubble and a rebound on Wall Street lifted sentiment across the region. South Korea’s benchmark KOSPI rose 0.55 percent to 4,026.45, recovering from the “Black Wednesday” rout the previous day. Retail investors bought 885 billion won ($611 million) of shares and institutions added 832 billion won, while foreign investors sold 1.7 trillion won, reversing earlier intraday gains of more than 1.5 percent. Semiconductor leaders were mixed. SK hynix rose 2.42 percent to 593,000 won after reaching an intraday high of 607,000 won. Samsung Electronics slipped 1.19 percent to 99,400 won, falling back below the key 100,000-won threshold as foreigners offloaded more than seven million shares. AI-related stocks remained under pressure. Naver, which had surged the previous session on record quarterly earnings, fell 5.21 percent to 264,000 won on heavy profit-taking by foreign investors. Power-grid and transformer names extended recent gains. Hyosung Heavy Industries added 1.62 percent to 2,255,000 won, HD Hyundai Electric rose 0.81 percent to 875,000 won, and LS Corp. jumped 5.58 percent to 217,500 won on optimism over its electricity value-chain businesses including LS Cable and LS Electric. Japan’s Nikkei 225 gained 1.19 percent to 50,810.50, partially recovering Wednesday’s steep drop. Daikin Industries surged 7.79 percent to 19,295 yen ($125.3) after reporting stronger-than-expected earnings on robust industrial cooling demand. China’s Shanghai Composite Index advanced 0.97 percent to 4,007.76, reclaiming the 4,000 mark. Rare-earth producer Inner Mongolia Baotou Steel Union was steady at 2.7 yuan ($0.38) as momentum in the segment eased after U.S.-China trade talks. Cutting-tool maker Beijing Worldia Diamond Tools rose 10.7 percent to 56.13 yuan. Elsewhere in the region, Taiwan’s TAIEX gained 0.66 percent to 27,899.45, and Hong Kong’s Hang Seng Index climbed 2.12 percent to 26,485.90. 2025-11-06 17:56:30 -
Over-crowded Korean coffee market squeezes small franchises to venture overseas SEOUL, November 06 (AJP) - Koreans are the world's most avid coffee consumers, and the market has now grown so dense that smaller franchises are increasingly looking abroad to survive. According to Euromonitor, Koreans on average drank 416 cups of coffee per person last year, the highest in the Asia-Pacific region. Consumption far outstripped Singapore's 290 cups and Japan's 281 cups, and was nearly six times the regional average of 57. By the end of 2022, Korea had around 100,000 coffee shops nationwide — almost double the 52,000 stores operated collectively by the country's four major convenience-store chains (GS25, CU, 7-Eleven, Emart24). Coffee shops also outnumbered chicken restaurants, which totaled 81,000. Coffee franchise brands numbered 886, exceeding the 669 chicken franchises. With such density, prices vary widely: budget chains sell Americanos for 1,500–2,000 won ($1.38), while premium cafés charge 4,500–5,500 won. Budget chains have expanded rapidly amid long-running economic pressures and high youth unemployment. The top five value brands — Mega MGC, Compose Coffee, Paik’s Coffee, The Venti, and Mammoth Coffee — operate around 11,000 stores nationwide, more than double the 4,800 outlets run by the top five premium chains: Starbucks, Twosome Place, Hollys, Coffee Bean, and Angel-in-us. Even market heavyweight Starbucks Korea shows signs of plateauing. Its store count edged up from 2,009 at the end of 2023 to 2,050 in the first half of 2024. Twosome Place saw similarly modest growth, rising from 1,670 to 1,700 stores. By contrast, Mega MGC Coffee is racing toward the 4,000-store milestone. After passing 3,000 stores in May 2023, it reached 3,500 by March and more than 3,800 by August 2024 — adding roughly 800 locations in just over a year. Its operator, N-House, has posted solid financial gains: revenue grew from 315.8 billion won in 2022 to 455.8 billion won in 2023 and is estimated to reach 545.9 billion won this year. Operating profit jumped from 54.5 billion won in 2022 to 104.3 billion won in 2023 and 118.1 billion won in 2024, keeping margins near 20 percent for three consecutive years. Starbucks Korea, operated by SCK Company, recorded 3.1 trillion won in sales last year, up 5.8 percent from 2022. But its store expansion rate has declined sharply — from 8.7 percent in 2021, when Emart acquired the company, to 6.1 percent in 2023. With domestic expansion reaching its limits, small and mid-sized franchises are turning overseas. Mega MGC Coffee opened its first overseas branch in Ulaanbaatar, Mongolia, last May and has grown to five locations within a year. Paik's Coffee has focused on Southeast Asia, expanding from its first Manila store in 2016 to 18 outlets across the Philippines and Singapore. Compose Coffee launched its third store in Singapore this year and is expected to accelerate expansion after management rights were acquired by Jollibee Foods, a major Philippine restaurant conglomerate. The Venti embarked on global expansion this year with its first store in Canada, followed by openings in Vietnam and Jordan, tailoring Korean-style menus to local tastes. Mammoth Coffee entered Japan with its first store, marking the brand's overseas debut. According to the Food Information Statistics System, the global coffee market has grown steadily since 2019 and is projected to reach $174.1 billion by 2028, up 20 percent from 2025 — offering headroom for Korean franchises seeking growth beyond a home market that has little space left to fill. 2025-11-06 17:56:16 -
Korea's record Jan-Sept current account flags deepening reliance on chip exports SEOUL, November 06 (AJP) - South Korea’s thriving semiconductor business has pushed the country’s current account surplus to its largest-ever level for September, but the details point to a growing dependence on a narrow set of export engines. Preliminary Bank of Korea data show the current account logged a $13.47 billion surplus in September, lifting the cumulative black to a record $82.77 billion for the January–September period — up 23 percent from a year earlier. The goods balance contributed a surplus of $14.24 billion, supported by a 9.6 percent rise in exports to $67.2 billion. From January to September, the goods surplus totaled $85.9 billion, about $14.2 billion higher than a year age. Semiconductors and shipbuilding remained the primary drivers of growth. Chip exports surged 22.1 percent on-year to $16.79 billion, fueled by strong global demand for high-bandwidth memory (HBM) chips. SK hynix posted an operating profit of 11 trillion won ($7.7 billion) in the third quarter, while Samsung Electronics recorded 7 trillion won in chip earnings, underscoring the industry’s outsized contribution to Korea’s external balance. Ship exports also climbed 23.8 percent to $2.77 billion on robust global orders for LNG carriers and other high-value vessels. Hanwha Ocean reported a record third-quarter operating profit of 290 billion won ($200 million). Steel exports offered further support, rising 2.5 percent to $4.01 billion as signs of stabilization emerged despite continued competition from Chinese producers. Korea’s services sector remained a structural drag. The services balance posted a $3.32 billion deficit in September, widening the cumulative shortfall to $22.7 billion in the first nine months of the year — about $5 billion deeper than a year earlier. The travel account continues to make up the largest red. Inbound visitors climbed 16 percent on-year to 14 million, but revenue gains were subdued as solo and small-group travelers replaced big-budget tour groups, reducing duty-free and package-tour spending. The intellectual property (IP) account logged an $850 million deficit, compared with a $660 million shortfall a year earlier, highlighting Korea’s struggle to monetize its cultural output. A Korea Chamber of Commerce and Industry (KCCI) report found no Korean names among the world’s top 50 IP-based goods revenue earners. The United States dominated the list with 32 companies — including Netflix and The Walt Disney Company, followed by Japan – home to Sony Pictures - with seven. Even the hit K-pop–themed Netflix animation “K-pop Demon Hunters” is based on IP owned by Netflix, which acquired the rights from Japan’s Sony Pictures — a reminder that Korea’s expanding cultural footprint often rests on foreign-controlled intellectual property. 2025-11-06 17:54:56 -
Ramyeon now spans hundreds of varieties, but the classic spicy still gets the last gulp SEOUL, November 06 (AJP) - Ramyeon, Korea’s signature instant noodle, sits at the forefront of the K-food boom, even being marketed vigorously through K-Pop Demon Hunters as its varieties keep evolving with a widening global footprint. The range now spans hundreds of flavors and formats — from trendy mala and truffle to butter-soy and black-garlic blends — though the original spicy profile remains the undisputed classic. Korea’s agri-food exports surpassed $10 billion (about 14 trillion won) this year, marking the earliest-ever point at which the milestone was reached, according to the Korea Agro-Fisheries & Food Trade Corporation (aT). The United States is the largest consumer at $1.72 billion, up 15.3 percent from a year earlier. Europe grew 15.8 percent to $772 million, followed by GCC countries at $296 million (up 9.6 percent) and the CIS at $461 million (up 5.6 percent). Among export categories, ramyeon led the surge, bolstered by explosive demand in the U.S. and Europe. Ramyeon exports soared 24.7 percent to $1.116 billion. Seaweed exports increased 14.1 percent to $877 million, while kimchi exports rose 3.2 percent to $125 million. Grape exports jumped 45.2 percent to $35 million. The proliferation of Korean restaurants worldwide — propelled by the global boom in K-content — also boosted sauce exports by 9.2 percent to $315 million. For many foreign visitors, tasting ramyeon has become a must-do Korean experience. Convenience stores have reported sharp spikes in sales following the resumption of visa-free group tours for Chinese visitors in late September. Between Sept. 29 and Oct. 12, sales to Chinese tourists at around 20 GS25 stores in Myeong-dong and Seongsu surged 111 percent compared to the previous two weeks. CU stores in Myeong-dong and Hongdae saw an 89 percent rise, while 7-Eleven branches in Myeong-dong reported a 50 percent increase. Buldak-bokkeum-myeon and Shin Ramyun were the top sellers, often stocked prominently at store entrances. The buying frenzy has been amplified by Xiaohongshu, China’s Instagram-like platform, where viral videos on must-buy Korean convenience-store items and travel shopping lists have shaped consumer behavior. Shopping habits once guided by tour agencies are increasingly molded by online micro-trends. Korean ramyeon has also transformed into an experience-based attraction. The rise of 'Ramyun Library' stores — where customers can choose noodles and cook them on-site — has made the ramyeon aisle a tourism hotspot. CU opened its first 'Ramyun Library' in Hongdae in 2023 and has since expanded the model to 55 stores nationwide. According to BGF Retail, ramyeon sales at these locations rose 153.8 percent year-on-year between January and September. Courtney from Canada, visiting Seoul with friends, said she was surprised by the novelty. "It’s like a whole experience here. Back home we don’t have machines that let you cook noodles right in the store," she said. Sophie from Austria said social media influenced her trip. "I first learned about Korean ramyeon on TikTok, and it’s what brought me to Seoul. Korean noodles are thicker and saucier than others. Buldak Ramyeon is my favorite," she said. A CU part-timer in his 20s said spicy varieties dominate tourist purchases. "Buldak and Buldak Carbonara are the most popular. Foreign visitors really love Korean-style spicy noodles," he said. 2025-11-06 17:49:29 -
South Korean FM to visit Cambodia to discuss measures against scam crimes SEOUL, November 6 (AJP) - Foreign Minister Cho Hyun will visit Cambodia to discuss measures to combat online scams involving South Koreans. He is scheduled to leave for Phnom Penh this weekend, spokesperson Lee Jae-woong said in the ministry's regular press briefing on Thursday. During his three-day trip, Cho plans to meet with Cambodia's foreign and interior ministers to discuss cooperation in combating scam crimes while enhancing bilateral relations. He will also meet with South Koreans living there. Lee said, "Both countries are in discussions to launch a joint task force between their police agencies as early as possible, as agreed last month," adding that it will help address scam crimes in Cambodia involving South Koreans. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-06 17:20:33 -
Washington requests 'more time' to sign tariff deal with Seoul, FM says SEOUL, November 6 (AJP) - Amid growing speculation over why South Korea and the U.S. are still unable to sign a memorandum of understanding (MOU) for their recent tariff-related deal, which was finalized on the sidelines of last week's Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, Foreign Minister Cho Hyun said on Thursday that Washington has requested "more time." When asked what has caused the delay, Cho said during a parliamentary hearing, "Given the deal's vast scope, it is just taking time to check and fine-tune details between the two sides through an extensive review process." "I have heard that the U.S. side is in the final stage of review with relevant government agencies there," he explained, assuring lawmakers who had raised concerns about possible disagreements over specific terms or other issues. Cho added that both sides have already exchanged near-final drafts, hinting at the deal's imminent signing along with the release of a joint fact sheet outlining all the details. Nevertheless it remains to be seen when it will happen, as it has been repeatedly delayed. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-06 17:00:34 -
TRAVEL: Finding solace at temple high on mountain BONGHWA, November 06 (AJP) - I recently undertook a stay at Cheongnyangsa Temple in Bonghwa, North Gyeongsang Province. The experience was an immersion in a landscape and a tradition that demands both effort and reward. While Cheongnyangsan Mountain may not be among Korea’s highest peaks, its rugged, sheer cliffs and dramatic stone pinnacles deliver an astonishingly grand and theatrical scene. Cheongnyangsa is strategically built halfway up the mountain, meaning your journey begins with a test of endurance. From the parking lot, it's a strenuous 30-minute climb up a steep path. Be warned: for those unaccustomed to mountain walking, simply reaching the temple can feel like a major feat. But the reward is instant. Looking down from the temple grounds, the view is nothing short of breathtaking: the temple buildings are perfectly framed by peaks alight with the deep reds and golds of late autumn foliage. It’s a vista that elicits an involuntary gasp of wonder. The Temple Stay itself is a structured cultural program designed to allow visitors to briefly experience the life of a monastic practitioner. My itinerary included a temple pilgrimage, Buddhist ritual, circling the pagoda, a peaceful free walk, and, most powerfully, the striking of the temple bell. The resonant tolling of the massive bell just after sunset, echoing through the now-silent mountain sanctuary, was an unforgettable, first-time experience. It carried a solemn weight — a sacred rhythm that compelled deep introspection. A single night at Cheongnyangsa offered a precious opportunity for self-reflection amidst the cool, crisp air of the autumn woods. The dramatic scenery extends far beyond the main temple. A further 30-minute hike up the trail leads to Eungjinjeon retreat. This sacred annex is a marvel, appearing to hang precariously from the cliff face, backed by colossal rock formations. Encircled by flaming red maple trees and capped by the clear blue autumn sky, Eungjinjeon is arguably the most poignant spot to soak in Cheongnyangsan’s seasonal beauty. For the ultimate panorama, a viewpoint about halfway up the trail offers a magnificent glimpse of the entire mountain range and the Cheongnyangsa Temple nestled peacefully in the valley below. Keep pushing onward, and you’ll find a remarkable piece of engineering. After about an hour of climbing a steep trail, you reach the Sky Bridge. This 90-meter-long, 70-meter-high suspension bridge connects the Jaranbong and Seonhakbong Peaks at an altitude of 800 meters. Standing on the bridge, connecting these two formidable peaks, I felt fully immersed in the brilliant, fiery climax of the late autumn mountainside. The Temple Stay is a cherished traditional cultural experience that offers a glimpse into the history and spiritual culture of Korean Buddhism. Operating in 158 temples across South Korea, the program has become a highly popular method for weary modern citizens to heal the mind and body. Last year, the program hit an all-time high, hosting over 332,000 participants. The Temple Stay's appeal is also soaring internationally, with 31 temples now specializing in foreign visitors and employing dedicated language staff. Temples are currently offering a 50 percent discount on Temple Stay participation fees throughout the month of November — a perfect chance to experience this unique blend of spirituality and rugged natural beauty. 2025-11-06 17:00:07 -
South Korea's AI and climate goals on collision course SEOUL, November 06 (AJP) - South Korea plans to invest $17 billion by 2030 to build an "AI expressway" and take the lead in the global AI race, a vision strengthened by NVIDIA's pledge to supply next-generation GPUs powerful enough to anchor five hyperscale AI data centers. Yet how the country intends to reconcile this ambition with its climate commitments is increasingly unclear. Under an energy rationalization strategy released this week, the Ministry of Climate, Energy and Environment aims to cut national energy consumption to 211 million tons of oil equivalent (toe) by 2029 from 212 million toe in 2024. Climate Minister Kim Sung-hwan described the shift as the foundation for "a transformation toward a carbon-free green civilization." But the core drivers of Korea's AI goals demand the opposite direction. SK Group and Amazon Web Services are pushing ahead with more than $5 billion in hyperscale data center investments. Each server requires up to four times the power of a conventional unit, while cooling needs run four to ten times higher to sustain heavy GPU workloads. Hyperscale facilities—warehouse-sized sites with upward of 5,000 to over a million servers—consume electricity equivalent to at least 100,000 households. A new facility under construction in Ulsan could demand twenty times that amount, according to industry estimates. "The government's AI roadmap could derail on power shortages," Lee Young-tak, head of SK Telecom's growth support office, warned during a National Assembly forum in September. The numbers suggest a significant mismatch. Korea's total generation capacity is roughly 109 gigawatts. Yet government data show the country will need 732 new data centers by 2029, requiring nearly 49 gigawatts of electricity—almost half of today's available capacity. "That's equivalent to constructing 53 additional nuclear reactors," Lee said, arguing that such risks are absent in current policy planning. These projections do not include NVIDIA's more recent commitment to deliver an additional 260,000 GPUs to Korean customers. People Power Party lawmaker Na Kyung-won noted that each high-end NVIDIA GPU draws roughly 1.4 kilowatts. The total would require around 400 megawatts—demanding dense power racks, advanced liquid-cooling systems, and high-speed networking infrastructure. She estimated this load alone would match the entire annual output of the Shin-Kori Unit 1 or Saewool Unit 1 reactor for six to twelve months. The Yongin semiconductor cluster adds to the strain. Once fully operational, the cluster is expected to require 16 gigawatts, an amount equal to about 60 percent of the combined apparent capacity of the Seoul and Namseoul substations, according to the National Assembly Research Service. Yet Korea's current grid struggles even with existing facilities. Among 318 power system impact assessment requests submitted to Korea Electric Power Corporation since August, only 21 received final approval as of September—a 6.6 percent success rate—according to PPP lawmaker Kim Sung-won. Infrastructure projects face chronic delays as well. A major high-voltage direct current line designed to move surplus power from the East Coast to the Seoul metropolitan area is seven years behind schedule due to local opposition. Transmission bottlenecks have forced coal plants in the Yeongdong region to operate at just 20 to 30 percent capacity despite available supply. Layered onto these constraints is the government's reluctance to expand nuclear power. The energy ministry is pursuing a nuclear reduction policy focused on raising renewable capacity to 100 gigawatts by 2030. The Nuclear Safety and Security Commission has continued to postpone a restart decision for Kori Unit 2, despite the near-completed approval process. Ten large reactors will reach the end of their operating licenses by 2029. Failing to extend those reactors could leave a power gap larger than Seoul’s annual electricity consumption by 2030—just as AI, semiconductor fabrication, and hyperscale data centers place unprecedented stress on the grid. 2025-11-06 16:48:22 -
KCC unveils glass designed to prevent bird collisions SEOUL, November 06 (AJP) - KCC Glass said Thursday it has developed South Korea’s first bird-safe glass. The product, named SAVIRDS, employs a sandblasting technique that etches subtle patterns across the surface of the glass. The markings, spaced five centimeters apart, are visible to birds and recognized as obstacles — reducing the risk of fatal collisions that have become a growing environmental concern. SAVIRDS recently received certification from the American Bird Conservancy, meeting the organization’s standards for bird-collision prevention. The launch comes amid increasing alarm over bird fatalities caused by glass structures. A 2019 report estimated that nearly eight million birds die each year in South Korea after flying into transparent or reflective windows. In response, the government amended the Wildlife Protection and Management Act in 2022, requiring public buildings to incorporate bird-safety measures into their designs. Conventional solutions — such as applying films or stickers — have proven difficult to maintain over time. KCC says SAVIRDS offers a more durable alternative, with permanently etched patterns that require no additional maintenance. The glass can also be processed like standard glass and features a special coating that improves insulation, combining wildlife protection with energy efficiency. KCC plans to promote SAVIRDS first for use in public buildings, before expanding to commercial and residential structures. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-06 15:46:27 -
Two rescued, at least seven missing after structure collapse at power plant in Ulsan SEOUL, November 6 (AJP) - A large structure collapsed at a thermal power plant in the southeastern city of Ulsan on Thursday, trapping believed to be seven people under the debris, authorities said. The incident occurred at around 2 p.m. at the state-run utility company Korea East-West Power. According to firefighters, two individuals were rescued shortly after the collapse, while search efforts continue for the remaining victims. Authorities are investigating the cause of the collapse and assessing the extent of the damage. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-06 15:45:01