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Pyongyang answers Trump's overture with calibrated missile test SEOUL, October 29 (AJP) - U.S. President Donald Trump appeared to keep his hopes up for a rendezvous with North Korean leader Kim Jong-un during his short visit to South Korea for this year's Asia-Pacific Economic Cooperation events, and the North responded in a pointed yet carefully managed missile test. North Korea "conducted a test-fire of sea-to-surface strategic cruise missiles in the West Sea of Korea" on Tuesday, the state-run Korean Central News Agency (KCNA) reported the following day. The missiles flew about 7,800 seconds — roughly 130 minutes — before hitting a preset target. KCNA framed the launch as part of a broader effort to "steadily expand the sphere of application of war deterrents," presenting the test as a routine upgrade of its deterrence capacity. The timing coincided with Trump's touchdown in the southern port city of Busan and appeared to serve as Pyongyang's symbolic answer to the U.S. president's repeated public overtures for a meeting with Kim during his brief stay. Asked about the launch aboard Air Force One en route from Tokyo to Busan, Trump dismissed it lightly, saying Kim had been "launching missiles for decades." He reiterated that "at some point, we'll be involved with North Korea," adding that he hoped to meet the North Korean leader "not too distant future." Trump has been signaling openness to engagement since the start of his first Asia tour in his second presidency, focused on summits with ASEAN and APEC states as well as trade issues. He notably referred to North Korea as "a sort of a nuclear power," echoing Pyongyang's long-standing demand for implicit recognition of its nuclear status before talks resume with Washington. The measured missile test shows Pyongyang opting for leverage rather than immediate diplomatic reciprocation. Cho Han-bum, a senior researcher at the Korea Institute for National Unification, told AJP the launch was aimed at asserting North Korea's presence during a week when global attention is focused on the APEC summit. "APEC brings together countries across the Asia-Pacific," Cho said. "North Korea is part of the region, yet it cannot take part in the forum." He added that Foreign Minister Choe Son Hui's trip to Russia and her appearance at a Eurasian security meeting in Belarus also reflected Pyongyang's desire to remain visible during APEC week. The test's tone and design suggested deliberate restraint. Senior officials including Pak Jong Chon and Kim Jong Sik oversaw the launch, but Kim Jong-un did not attend — extending his recent pattern of skipping weapons tests to keep provocations controlled. Cho noted that cruise-missile activities do not violate U.N. Security Council resolutions and that firing inland from the sea rather than outward kept the provocation within managed limits. Still, the launch cast a muted shadow over the diplomatic choreography surrounding the APEC summit in Gyeongju, where Trump is scheduled to meet South Korean President Lee Jae Myung and Chinese President Xi Jinping. For Seoul, the episode underscores both the fragility of regional stability and the challenge of dealing with a Pyongyang that mixes provocation with strategic patience, while North Korea, with nothing to lose, would be content with the momentary spotlight. 2025-10-29 15:49:36 -
Lee rolls out red carpet for Trump as bilateral trade talks get underway SEOUL, October 29 (AJP) - U.S. President Donald Trump arrived in Gyeongju on Wednesday for the Asia-Pacific Economic Cooperation (APEC) summit and began the final leg of his Asia trip that included stops in Malaysia and Japan. Upon arrival, he headed to the CEO Summit as part of the APEC gathering and delivered a keynote speech, in which he said a trade deal with South Korea will be finalized "very soon," raising expectations for a possible breakthrough in stalled tariff-related negotiations between the two countries. The negotiations include how Seoul will fulfill its pledge to invest $350 billion in the U.S. agreed last Jury as part of a broader deal to lower reciprocal tariffs from 25 percent to 15 percent. Just ahead of the bilateral meeting with Trump later in the day which comes about two months after they first met in Washington, D.C. in August, President Lee Jae Myung decorated him with the Mugunghwa Medal, the country's highest honor, typically awarded to those who have made great achievements or significant contributions to the country. About 90 foreign leaders and their spouses have received the honor so far, with former President of West Germany Heinrich Lübke being the first in 1964, and Trump becoming the first U.S. president to receive it. The medal, produced by the Korea Minting and Security Printing Corporation, contains 712.5 grams of gold and 412.5 grams of silver and other alloys. The gold alone is valued at approximately 130 million Korean won or about US$91,000, reflecting a recent hike in prices. Trump also receive a gold-plated replica of the ancient Silla crown as a gift, symbolizing the summit's venue in Gyeongju, which was once the capital of the ancient kingdom of Silla that flourished for over 1,000 years. Earlier, Japan similarly rolled out the red carpet for him with lavish gifts including a gold-coated golf ball tailored to his taste and other gestures of flattery. 2025-10-29 15:41:45 -
SK Bioscience hosts Hilleman Institute board in Korea to deepen vaccine collaboration SEOUL, October 29 (AJP) - The board of the Hilleman Institute, a leading global vaccine research organization, visited SK Bioscience’s headquarters on Tuesday to explore deeper cooperation in vaccine development and manufacturing, the company said Wednesday. The visit marked a significant step in strengthening strategic ties between the two organizations. It was the first time the Hilleman Institute’s board — established by pharmaceutical giant MSD and the U.K.-based nonprofit Wellcome Trust — held a meeting in South Korea. The institute, based in Singapore, focuses on improving vaccine access and public health in low- and middle-income countries. During the visit, board members toured SK Bioscience’s research and production facilities, evaluating the company’s R&D infrastructure, manufacturing systems, and global commercialization capabilities. According to SK Bioscience, the delegation recognized the company’s potential as a collaborative hub for global vaccine research and production. Executives from both sides also held in-depth discussions on expanding joint research and technology exchange, building on their existing partnership. SK Bioscience and the Hilleman Institute signed a strategic collaboration agreement in 2023 to jointly develop a next-generation Zaire Ebola vaccine. Since then, the partnership has expanded to include process development, technology transfer, and vaccine candidate commercialization. “Hosting the Hilleman Institute’s board in Korea underscores the depth of our partnership,” said Ahn Jae-yong, president of SK Bioscience. “We look forward to expanding collaboration to strengthen the global vaccine supply chain and improve preparedness for infectious disease threats.” SK Bioscience aims to position itself as a central player in global vaccine research, leveraging partnerships with international health institutions to broaden access to next-generation immunization technologies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 15:35:27 -
Bank of Korea chief warns of risks from won-based stablecoin SEOUL, October 29 (AJP) - Bank of Korea Governor Lee Chang-yong voiced caution on Wednesday over the potential introduction of a won-denominated stablecoin, warning that such a digital currency could trigger capital outflows and heighten volatility in the currency market. “Many people might take the won stablecoin abroad, which is worrisome,” Lee told lawmakers during a parliamentary audit, stressing that a hasty rollout could pose financial stability risks. Lee said any move toward a stablecoin backed by the South Korean won should proceed in stages, beginning with limited tests led by commercial banks. “If foreign exchange outflows are well controlled, then we can expand,” he said. The governor also raised concerns that a won-based stablecoin could be exploited to evade regulations — an issue that has long troubled policymakers in South Korea. His comments came in response to Democratic Party lawmaker Ahn Do-geol, who advocated for the adoption of a domestic stablecoin. “My view is very different,” Lee said, emphasizing the need for prudence over speed. Lee added that even with the launch of a won stablecoin, demand for dollar-based digital currencies would likely persist, as many investors use them to shift assets into dollars. “The idea that dollar stablecoins will dominate our won payment market is premature,” he said, “but we must strengthen regulation as their use continues to grow.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 15:06:14 -
Global leaders gather for APEC CEO Summit SEOUL, October 29 (AJP) - Global business moguls and other leaders gathered for talks at the CEO Summit as part of the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju, which kicked off on Wednesday. The multilateral business roundtable, hosted by the Korea Chamber of Commerce and Industry (KCCI), is the largest ever, featuring more sessions, speakers, and high-level attendees. President Lee Jae Myung, along with leaders from major businesses like electronics giant Samsung's Lee Jae-yong and automaker Hyundai's Chung Eui-sun, attended the opening ceremony. Secretary-General of the Organisation for Economic Co-operation and Development (OECD) Mathias Cormann was also present, along with many international business figures. Now in its 30th year, the four-day gathering features 1,700 global business leaders from 21 Asia-Pacific countries and will wrap up with a keynote by Jensen Huang, CEO of NVIDIA on Friday. This year's theme focuses on connecting businesses and governments to build a better future, covering topics like artificial intelligence (AI), finance, and carbon neutrality. KCCI Vice Chairman Park Il-jun said, "Through this event, South Korea will be able to solidify its position as a key partner in global economic cooperation and emerge as a leading hub for the AI industry." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 14:48:12 -
Hanmi Semiconductor chairman increases stake in sign of confidence SEOUL, October 29 (AJP) - Hanmi Semiconductor said Wednesday that its chairman, Kwak Dong-shin, will buy 5 billion won (about $3.7 million) worth of company shares using his own funds. The purchase, expected to be completed by Nov. 26, will bring Kwak’s total personal investment in Hanmi shares since 2023 to 47.3 billion won, raising his stake from 33.47 percent to 33.50 percent. Hanmi Semiconductor is a global leader in TC bonder equipment — technology critical to the production of high-bandwidth memory, or HBM, a component increasingly vital to artificial intelligence chips. The company has focused heavily on intellectual property since 2002, filing more than 120 patents related to HBM manufacturing tools. Analysts say that confidence in Hanmi’s technological edge likely underpins Kwak’s decision to expand his holdings. Founded in 1980, Hanmi Semiconductor supplies roughly 320 clients worldwide. The company recently established a subsidiary, Hanmi Singapore, in the Woodlands district to provide enhanced local support for Micron Technology and other customers in Southeast Asia. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 14:15:10 -
South Korea sees births rise for 14th straight month SEOUL, October 29 (AJP) - South Korea recorded an increase in births for the 14th consecutive month in August, according to new government data released Wednesday. The National Data Office said 20,867 babies were born in August, a 3.8 percent increase from a year earlier. Births rose in 12 of the country’s 17 major regions, including Seoul and Busan, though declines continued in Daejeon, Sejong and several smaller provinces. The birth rate climbed to 4.8 per 1,000 people, up 0.1 percentage point from last year. The total fertility rate — the average number of children a woman is expected to have in her lifetime — rose slightly to 0.77 from 0.75 a year earlier, remaining far below the population replacement level of 2.1. Firstborn children accounted for most of the increase, up 2 percent from the previous year, while births of second and third or later children fell by 0.9 percent and 1.1 percent, respectively. Marriage rates also improved, a trend demographers say could signal modest stabilization in family formation. There were 19,449 marriages in August, up 11 percent year over year, while divorces fell by 5.5 percent to 7,196. Despite the recent uptick, South Korea continues to grapple with one of the lowest fertility rates in the world — a demographic challenge that threatens long-term economic growth and labor supply. Government efforts to reverse the decline, including childcare subsidies and housing incentives for young families, have so far yielded limited results. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 13:55:00 -
AI data centers are 'strategic national assets': Naver chief SEOUL, October 29 (AJP) - Naver’s chief executive, Choi Soo-yeon, urged greater institutional and policy support for artificial intelligence data centers, calling them essential to the next stage of digital development in South Korea. Speaking Wednesday at the APEC CEO Summit in Gyeongju, Choi emphasized that AI data centers had become foundational infrastructure for the global economy and said governments should treat them as strategic national assets. “The AI we are developing at Naver connects the digital ecosystem more intricately, supporting users, creators and sellers,” she said, noting that the company has built a “full-stack” AI ecosystem that integrates infrastructure, data and services. Choi said countries around the world were racing to build AI data centers as part of national industrial policy, and she called for South Korea to accelerate its own efforts through the government’s “AI highway” initiative. She proposed tax incentives, streamlined regulatory procedures and more flexible location rules to encourage investment in the sector. She also voiced support for a special law under discussion in South Korea’s National Assembly that would create a legal framework to promote AI data center development, describing it as “a foundation for transitioning the national industry to AI.” “AI should benefit everyone,” Choi said, adding that data centers — with their vast energy needs — must also address power supply and environmental sustainability challenges. “I hope this summit will mark a starting point for meaningful collaboration.” Choi spoke alongside Matt Garman, chief executive of Amazon Web Services, and Simon Milner, vice president at Meta, in a session devoted to AI’s role in the global economy. Earlier in the week, she had appeared at the APEC Future Tech Forum to discuss Naver’s AI strategy and ecosystem. In tandem with the summit, Naver is hosting a “Be Local Week” campaign in Gyeongju to showcase the city to foreign visitors. Choi visited the event site and met with local business owners to discuss regional growth and digital innovation. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 13:34:28 -
Asian shares mostly higher early Wed; KOSPI and Nikkei lead on chip momentum SEOUL, October 29 (AJP) - Asian markets were mostly higher early Wednesday, with Seoul and Tokyo continuing to set the pace for the region on the back of strong third-quarter earnings and ongoing enthusiasm for AI-related chips. Sentiment was also supported ahead of a potential U.S. Federal Reserve rate cut expected at this week’s FOMC meeting. Korea’s benchmark KOSPI rose 0.7 percent to hover around 4,040 after jumping 1.27 percent earlier, driven by a fresh rally in SK hynix following its record third-quarter performance. Retail investors maintained a hectic buying streak, adding 71.3 billion won ($49.8 million) in net purchases, while institutional profit-taking was largely absorbed by long-term investors such as pension funds. SK hynix outperformed with a 3.17-percent rise to 538,000 won after reporting a record operating profit of 11.38 trillion won ($7.9 billion) for the quarter. The company also confirmed it had finalized 2026 high-bandwidth memory (HBM) supply volumes with key clients including NVIDIA. Samsung Electronics, however, struggled to hold its recent milestone. The stock rose about 0.7 percent to 100,200 won as of 10:30 a.m., but showed little appetite for further gains. Despite better-than-expected quarterly earnings and plans to unveil its new “trifold” smartphone at APEC 2025, investors remained cautious ahead of NVIDIA CEO Jensen Huang’s visit to Korea and the results of NVIDIA’s HBM4 qualification process. Transformer-related stocks led broader gains. Hyundai Engineering & Construction surged more than 8 percent to 74,500 won after reports that a KEPCO-led consortium won a wind-power project in Saudi Arabia, boosting expectations for transformer demand. The momentum lifted LS Electric more than 6 percent to around 410,000 won and Hyosung Heavy Industries over 3 percent to 1.99 million won. Iljin Electric edged up only 0.7 percent to 51,800 won, with analysts noting it is less likely to benefit from the new orders. Among battery makers, Samsung SDI posted the strongest performance, climbing more than 6 percent to 331,000 won for a second day. Although its third-quarter results were soft, investors anticipate a fourth-quarter rebound driven by growing share in the North American energy storage system market and new electric-vehicle battery supply deals with Stellantis. In Tokyo, the Nikkei 225 rose more than 1.2 percent to around 50,850, supported by industrial and technology names after Japan and the United States announced a new joint investment framework the previous day. Hitachi, a nuclear-related heavyweight, gained 3 percent to 4,815 yen ($31.76), while Panasonic Holdings climbed over 2 percent to 1,866 yen. Mitsubishi Electric, a key supplier of power-grid solutions, jumped 4 percent to 4,240 yen. Advantest was the day’s standout, soaring 15.5 percent to about 20,900 yen, riding the global semiconductor rally sparked by the record results of Samsung Electronics and SK hynix. Across the region, Taiwan’s TAIEX advanced about 1 percent to 28,230. China’s Shanghai Composite Index briefly topped the 4,000 mark on Tuesday on optimism over potential progress in U.S.–China trade talks, but failed to maintain momentum as investors locked in profits. Markets also remained alert to how China’s economy may react to anticipated U.S. rate cuts. Hong Kong’s Hang Seng Index was closed for the Chung Yeung Festival holiday. 2025-10-29 11:26:21 -
Lee set to hold talks with Trump in Gyeongju SEOUL, October 29 (AJP) - President Lee Jae-myung on Wednesday is set to hold talks with U.S. President Donald Trump on Wednesday in South Korea's historic city of Gyeongju on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. Their meeting, scheduled for later in the day, comes about two months after they first met in Washington, D.C. in August, marking the shortest interval between reciprocal visits by the two leaders. Lee arrived in Gyeongju the previous day to prepare for the summit, inspecting the venue for the multilateral gathering ahead of Trump's arrival from Tokyo. Trump, who left Tokyo earlier in the day for the final leg of his Asia trip, which includes a stop in Malaysia, arrived at Gimhae International Airport in the southern port city of Busan. At their meeting, Lee and Trump are expected to discuss a broad range of economic and security issues to strengthen the bilateral alliance. In particular, much attention is given to whether the two sides can resolve differences in ongoing tariff-related negotiations, which involve Seoul's pledge last July to invest $350 billion in the U.S. as part of a broader deal to reduce reciprocal tariffs from 25 percent to 15 percent. Meanwhile, Trump is expected to receive a gold-plated replica of the ancient Silla crown as a gift, symbolizing the summit's venue in Gyeongju, which was once the capital of the ancient kingdom of Silla that flourished for over 1,000 years. Earlier, Japan similarly rolled out the red carpet for him with lavish gifts including a gold-coated golf ball tailored to his taste and other gestures of flattery. 2025-10-29 11:06:03