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Hyundai Motor expands ties with Japan's Toray to develop future mobility technologies SEOUL, October 27 (AJP) - Hyundai Motor Group said Monday it has signed an agreement with Japan’s Toray Group to collaborate on the development of advanced materials for next-generation mobility, from high-performance vehicles to lunar rovers and humanoid robots. The agreement was formalized at Hyundai’s headquarters in Seoul, with Kim Heung-soo, Hyundai’s head of global strategy, and Terada Miki, Toray’s senior executive vice president, in attendance. The partnership expands on the two companies’ existing collaboration, launched in April, to develop high-performance composite materials such as carbon fiber reinforced plastics — key to improving vehicle performance, safety, and efficiency. Under the new deal, Hyundai will oversee design and performance evaluation through its research and development center, while Toray will lead the development of next-generation carbon fiber composites. Together, the companies aim to accelerate innovation and open new market opportunities in future mobility technologies. “This agreement marks a significant milestone in our partnership, combining our strengths to innovate from research to commercialization,” Kim said in a statement. Toray’s Terada added that the company intends to enhance global competitiveness by creating innovative composite solutions with Hyundai. Hyundai officials said the collaboration underscores Hyundai’s broader push to expand beyond traditional carmaking and position itself as a leader in advanced mobility technologies — a strategy that now reaches from electric vehicles to aerospace and robotics. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 09:57:32 -
Lee begins ASEAN summit with talks with Cambodian PM SEOUL, October 27 (AJP) - President Lee Jae Myung, in Malaysia, begins his itinerary there by meeting Cambodian Prime Minister Hun Manet on the sidelines of the biannual Association of Southeast Asian Nations (ASEAN) summit on Monday. The two leaders are expected to discuss cooperation to combat online scams, phishing schemes, and other crimes following the recent revelation of a series of incidents in Phnom Penh that targeted South Koreans. Later in the day, Lee is set to discuss ways to strengthen the strategic partnership among ASEAN member countries. He also plans to propose hosting a special summit in 2029 to mark the 40th anniversary of South Korea-ASEAN relations. Lee may also run into newly elected Japanese Prime Minister Sanae Takaichi as well as Chinese Premier Li Qiang for the first time. With U.S. President Donald Trump also in attendance, a possible encounter could take place there ahead of the scheduled summit with him in Busan later this week, as he visits South Korea for the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju. Lee will wrap up his trip to Kuala Lumpur after holding talks with Malaysian Prime Minister Anwar Ibrahim before returning to South Korea. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 09:16:22 -
OPINION: Restructuring alone won't save Korea's petrochemical industry SEOUL, October 27 (AJP) - South Korea’s financial sector has joined the Ministry of Trade, Industry and Energy in urging the petrochemical industry to embark on a voluntary restructuring. The call is ambitious: companies are being asked to reduce naphtha cracking capacity by as much as 3.7 million tons — roughly 25 percent — and pivot toward higher-value specialty products. Creditors have gone so far as to warn that continued support could be withdrawn if companies fail to act. Yet voluntary restructuring has never come easily in a system long accustomed to government direction. For decades, industries in South Korea have looked to the state for guidance and protection. Now, they are being asked to take the lead — to assess their own competitiveness, absorb costs, and reconcile clashing interests. That shift will not happen overnight. The petrochemical sector, built on massive facilities designed for long-term operation, faces especially high hurdles. Transitioning to specialty chemicals may sound like a strategic fix, but it is neither simple nor guaranteed to succeed. Market competition is fierce, and pressure without partnership risks driving companies into deeper uncertainty. The government, too, bears responsibility for the current predicament. Since the 1990s, policymakers and experts have called for a shift toward precision and specialty chemicals. But those voices were often drowned out by political priorities — from green growth to carbon neutrality — that brought policy inconsistency rather than sustained industrial direction. The result is a sector caught between regulatory burden and global competition. Despite being the country’s fourth-largest export industry — contributing $48 billion last year, behind semiconductors, automobiles, and machinery — petrochemicals are often cast as environmental villains. Laws such as the Chemical Control Act, though well-intentioned, are viewed by many in the industry as obstacles to competitiveness. Meanwhile, soaring electricity costs have compounded the pressure: industrial power rates have climbed about 70 percent over the past three years, making them 15 percent higher than residential rates and significantly above U.S. levels. That economic imbalance has already pushed some producers to consider securing their own power sources. It also highlights a deeper problem — South Korea’s uneven approach to industrial energy pricing and sustainability. Turning to cheaper Chinese petrochemical imports may appear tempting, but history offers a warning. The 2011 urea shortage, which exposed the country’s overreliance on Chinese supplies, remains a painful reminder of how quickly dependence can become vulnerability. The path forward demands more than government directives or creditor ultimatums. What South Korea’s petrochemical sector needs is a coherent strategy — one that balances competitiveness, environmental responsibility, and energy reform. Without that, calls for “voluntary restructuring” will remain little more than rhetoric. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 08:49:44 -
S.Korean defense expo hits all-time high as global interest surges SEOUL, October 26 (AJP) - South Korea’s largest defense and aerospace exhibition wrapped up Sunday after an eight-day run, setting new records for business deals and attendance. The biennial Seoul International Aerospace and Defense Exhibition (ADEX) 2025 drew 600 companies from 35 countries and generated $44.9 billion (64.6 trillion won) in business consultations — a 53 percent rise from 2023, marking a new record. "The surge in consultations reflects growing trust and demand for Korean defense products amid global instability," the committee said. The exhibition hosted 86 senior defense officials from 54 countries, including ministers, chiefs of staff, and procurement heads. A total of 2,316 business meetings were held, including 63 government-to-government (G2G) talks, 753 government-to-business (G2B) sessions, and 1,500 business-to-business (B2B) consultations. Delegations from the United States, Egypt, Malaysia, the United Arab Emirates, Saudi Arabia, and Algeria showed interest in Korean-made aircraft such as the Surion helicopter, Light Armed Helicopter (LAH), and KF-21 fighter jet. Iraq, Romania, and the UAE discussed potential purchases of K2 tanks and K9 self-propelled howitzers, while Saudi Arabia explored space cooperation, including satellite technology. A total of 263,283 visitors attended the event, up 20 percent from 2023, underscoring rising global interest in Korea’s fast-growing aerospace and defense industries. 2025-10-26 17:50:37 -
N.Korean top diplomat's Russia visit coincides with Trump's Seoul visit SEOUL, October 26 (AJP) - North Korean Foreign Minister will visit Russia from Sunday and then is scheduled to travel to Belarus coinciding with U.S. President Donald Trump’s upcoming visit to South Korea, raising questions over the possibility of a U.S.–North Korea summit. The visit marks Foreign Minister Choe Son-hui’s first trip to Russia in a year, following her November 2024 meeting in Moscow with Foreign Minister Sergey Lavrov and President Vladimir Putin. North Korea’s Korean Central News Agency (KCNA) on Sunday reported that Choe will visit both Russia and Belarus at the invitation of their foreign ministries, without disclosing specific dates or discussion topics. If her trip extends to Belarus, it could overlap with Trump’s two-day visit to Seoul from Wednesday. Trump said he would "like to meet with Kim" during his visit to Asia. However, it is speculated that such a meeting is unlikely while Choe — a key figure in Pyongyang’s negotiations with Washington — is abroad. Choe has played a central role in past U.S.–North Korea summits, including the 2018 Singapore and 2019 Hanoi meetings, as well as the inter-Korean border encounter at Panmunjom, making her absence a significant obstacle to any potential talks. 2025-10-26 16:36:17 -
Lee departs for Malaysia to attend ASEAN summit SEOUL, October 26 (AJP) - President Lee Jae-myung left for Kuala Lumpur on Saturday to attend the Association of Southeast Asian Nations (ASEAN) summit. Lee, accompanied by First Lady Kim Hye-kyung, departed for a two-day visit on Saturday morning, according to the presidential office. Upon arrival, he will attend a dinner meeting with Korean residents in Malaysia to hear their concerns, including the rise in online scam cases affecting Koreans in Southeast Asia. On Monday, Lee will hold a bilateral summit with Cambodian Prime Minister Hun Manet to discuss ways to deepen their strategic partnership and strengthen cooperation against cyber and online crime. He will then attend the Korea-ASEAN Summit, where he is expected to present a vision for advancing the Comprehensive Strategic Partnership between South Korea and ASEAN. Lee will also take part in the ASEAN+3 Summit with China and Japan to discuss regional issues such as energy security and supply chain resilience, and explore ways to enhance trilateral cooperation through ASEAN. Later in the day, he will meet with Malaysian Prime Minister Anwar Ibrahim, this year’s ASEAN chair, to discuss expanding cooperation in trade, investment, infrastructure, and defense. After completing his visit, Lee will return home to prepare for the Asia-Pacific Economic Cooperation (APEC) summit to be held in Gyeongju from Wednesday to Friday. 2025-10-26 11:45:52 -
Viet Nam highlights its active role in APEC and close partnership with South Korea SEOUL, October 26 (AJP) - The Embassy of Viet Nam in Seoul reaffirmed Viet Nam's active and responsible participation in the Asia-Pacific Economic Cooperation (APEC) forum and underlined the country's strong cooperative ties with South Korea ahead of the APEC Economic Leaders' Meeting in Gyeongju. "Since joining APEC in 1998, Viet Nam has made active and responsible contributions to the forum, promoting peace, stability, cooperation, and regional economic integration," the embassy said in a statement. It noted that Viet Nam has helped maintain APEC's position as the region's leading mechanism for economic cooperation. Viet Nam is one of the few members to have successfully hosted APEC twice, in 2006 and 2017, and has been selected to host again in 2027. The embassy pointed out that Viet Nam has also taken on several important roles within APEC, including Executive Director of the APEC Secretariat from 2005 to 2006, as well as chairing and vice-chairing various key committees and working groups. Viet Nam currently leads the task force developing APEC's structural reform agenda for 2026 to 2030. "In every role, Viet Nam has shown a spirit of responsibility and remains one of the most active members in proposing and promoting APEC programs and initiatives," the statement said. It added that Viet Nam has proposed more than 150 cooperation projects across a wide range of areas, many of which have been highly regarded by member economies. Among the most notable achievements is Viet Nam's initiative to develop the APEC Vision 2040 and its accompanying action plan, which were adopted by APEC leaders at the 25th APEC Summit held in Da Nang in November 2017. The embassy also cited Viet Nam's proposals on green and sustainable growth, cooperation to address climate change, inclusive growth with support for small and medium-sized enterprises, and the introduction of the "Gender Inclusion Guidelines" to incorporate gender equity into all APEC policies and programs. The embassy said President Luong Cuong will attend and deliver remarks at the upcoming APEC Economic Leaders' Meeting and the APEC CEO Summit in Gyeongju, where he will present specific proposals to strengthen cooperation among member economies and respond to fast-changing global and regional developments. Viet Nam is actively preparing to host APEC in 2027. On July 28, the Vietnamese government held a ceremony to announce the establishment of the National Committee on APEC 2027, assigning ministries such as the Ministry of Foreign Affairs and the Ministry of Industry and Trade to take the lead in developing the theme, priorities, and core ideas for the event. Prime Minister Pham Minh Chinh emphasized five guiding principles for APEC 2027: promoting cooperation among APEC members; fostering innovation and creativity; enhancing unity, determination, and responsibility among government agencies and local authorities; encouraging participation from APEC members, the public, and the business community; and ensuring that the outcomes of the meetings contribute to each economy's growth and development. According to the embassy, Viet Nam's position and role have continued to rise as the country maintains strong political stability, pursues reform, and deepens integration with the global economy. Viet Nam's economy grew by 7.1 percent in 2024 and by 7.52 percent in the first half of 2025. The government has streamlined administrative structures, advanced institutional reforms, and strengthened participation in international cooperation frameworks. The embassy described Viet Nam–South Korea relations as one of the model partnerships within APEC. Since establishing diplomatic relations in 1992, the two countries have made remarkable progress, continuously upgrading their relationship to reach the level of a comprehensive strategic partnership — the highest tier in Viet Nam's diplomatic system. The statement noted that the top leaders of both countries have maintained regular exchanges to further enhance cooperation. Recently, the General Secretary of the Communist Party of Viet Nam, the country's highest leader, visited South Korea and held talks with President Lee Jae Myung. The two sides discussed a wide range of issues and agreed to strengthen political trust and expand comprehensive and practical cooperation across all sectors and international forums. Within APEC, Viet Nam and South Korea have worked closely together, sharing experiences in organizing and coordinating APEC cooperation initiatives. On the occasion of President Luong Cuong's visit to attend the APEC Summit in Gyeongju, the embassy said the two countries should continue to strengthen collaboration, with South Korea supporting Viet Nam's initiatives in APEC and holding high-level bilateral discussions to further advance their comprehensive strategic partnership. 2025-10-26 08:43:34 -
Geologist says Pohang earthquake was man-made, triggered by geothermal fluid injection SEOUL, October 24 (AJP) - The 2017 Pohang earthquake was a man-made disaster caused by fluid injection at a geothermal power plant, according to Kim Kwang-hee, professor of geological and environmental sciences at Pusan National University. Speaking at the policy forum "Pohang, Asking Again: Accountability and Prevention of Recurrence" held at the National Assembly Members’ Office Building in Seoul on October 23, Kim said the quake was an induced seismic event, not a natural one. "The Pohang earthquake was an induced event caused by fluid injection at a geothermal power plant," he said. Kim explained that from 2016 to 2017, tens of thousands of tons of water were injected roughly four kilometers underground. Soon after, the number of small tremors around the plant rose sharply. "The fluid raised pressure along the fault, disturbed stress balance, and eventually triggered the main shock with a magnitude of 5.4," he said. He noted that there had been almost no prior seismic activity near the site, a key sign the quake was not natural. "If it had been a natural event, we would have observed recurring seismic activity before the main quake," he said. "Instead, almost no earthquakes occurred before the injections began, and afterward, clusters of microearthquakes appeared. That’s a clear sign of causation." Kim outlined the sequence leading up to the main shock: drilling and fluid injection, a spike in microearthquakes, accumulation of fault stress, and finally, rupture. "When the fluid reduced friction on the fault surface and the accumulated stress passed its critical point, the fault ruptured," he said. The epicenter, he added, was located only about 600 meters from the injection well — a distance he said "supports this geological explanation." He criticized the plant operator for continuing operations despite warning signs. "Even though microearthquakes repeatedly occurred during fluid injection, operations were not suspended, and there was no real-time monitoring system in place," Kim said. "Failing to act on such warning signs clearly shows poor management." While emphasizing that geothermal energy remains a vital renewable source in the age of climate change, Kim cautioned that safety must come first. He called for mandatory real-time seismic monitoring and emergency shutdown procedures in future projects. "The Pohang case reminds us that technology and safety must progress together," he said. 2025-10-24 17:30:05 -
Experts urge easing proof standards, turning Pohang's quake legacy into a cultural asset SEOUL, October 24 (AJP) - Legal and academic experts called for fairer compensation standards and stronger accountability in the long-running case over the 2017 Pohang earthquake, saying South Korea must rebuild public trust while preventing similar disasters. The discussion took place on October 23 at the National Assembly Members’ Office Building in Yeouido, where the "Pohang Earthquake Damage Policy Seminar" gathered lawyers, professors, and local representatives. Panelists included Shin Eun-joo, professor of law at Handong Global University; Kim Eun-joo, Pohang City Council member; attorneys Gong Dae-ho and Kim Bu-jo; and Ha Dong-ho, professor at Konkuk University and president of the Korean Society of Earthquake Engineering. The 2017 quake, measuring magnitude 5.4, struck the city’s northwestern area, followed by a 4.6 aftershock in early 2018. It left about 2,000 people displaced and caused an estimated 84.57 billion won, or roughly 58.8 million dollars, in property losses. In 2018, residents filed a damages suit against the government, claiming the quake had been induced by geothermal energy testing. The first trial partly acknowledged the state’s responsibility, but the appeals court overturned the decision, citing a lack of scientific proof. Attorney Gong Dae-ho criticized the strict standard of proof applied to the case. "In environmental or medical lawsuits, courts often ease the burden of proof because causation is difficult to establish," he said. "Even with expert reports and findings from the Board of Audit and Inspection, the court dismissed the state’s responsibility for lack of evidence. When the state leads a project, the standard should be more flexible to reflect the imbalance between the parties." He warned that the judiciary must avoid treating such cases as technical disputes. "The Supreme Court’s decision will set a precedent for how government responsibility is judged in future disasters," he said. "The court should approach this issue with the public’s perspective in mind." Attorney Kim Bu-jo said the appellate court narrowly interpreted public officials’ duty of care, allowing the state to evade accountability. "The ruling said there was no clear violation of duty, even though proper oversight could have prevented the damage," he said. "Applying such rigid proof standards in cases between citizens and the government goes against the spirit of justice and erodes public confidence." Professor Shin Eun-joo said the court applied criminal-level standards to a civil case. "Civil cases require a lower threshold of proof," she said. "Judges should not mechanically apply the law but assess whether it makes sense in context. Sometimes, fairness requires easing the evidentiary burden." Beyond the courtroom, experts also raised concerns over South Korea’s limited technical capacity for disaster prevention. Professor Ha Dong-ho noted that the country still lacks enough field engineers specializing in seismic design. "There’s a serious shortage of engineers with practical experience in earthquake-resistant technology," he said. "Most of the training is available only at the graduate level. The government and private sector need to support these professionals rather than relying on them without fair compensation." The discussion also turned to how the city might transform its painful experience into a learning and tourism resource. Council member Kim Eun-joo said countries such as New Zealand, Japan, and Taiwan have turned post-quake recovery into educational and cultural opportunities. "New Zealand operates earthquake museums and safety experience centers that turn painful memories into assets for the community," she said. Kim said Pohang is collecting residents’ stories, photos, and records to build a public archive. "The city is making efforts to ensure that the earthquake is remembered and that its lessons continue to shape Pohang’s future," she said. 2025-10-24 17:16:42 -
East Asian markets upbeat before Trump's arrival next week SEOUL, October 24 (AJP) - Asian markets ended mostly higher Friday on optimism surrounding U.S. President Donald Trump’s upcoming Asian tour, which includes back-to-back summits with leaders of South Korea, China, and Japan. In Seoul, the KOSPI climbed 2.0 percent to close at 3,921.52, reclaiming the 3,900 threshold as chip bellwethers Samsung Electronics and SK hynix extended gains. Japan’s Nikkei 225 advanced 1.3 percent to 49,282.19, supported by expectations of renewed fiscal stimulus from Tokyo. Hong Kong’s Hang Seng Index added 0.7 percent to 25,967.98, buoyed by strength in property and industrial shares. China’s Shanghai Composite Index edged up 0.2 percent to 3,922.41, as investors looked past lingering concerns about U.S. export curbs on advanced chip technology. Elsewhere in Asia, sentiment was more mixed. In India, both benchmarks eased — the BSE Sensex slipped 0.3 percent to 84,301, and the NSE Nifty 50 fell 0.3 percent to 25,817 — weighed down by weakness in banking and FMCG stocks such as Hindustan Unilever and Kotak Bank. Traders cited anxiety over a possible new U.S. trade probe into China and rising crude prices that could stoke inflation. In Southeast Asia, Indonesia’s Jakarta Composite Index gained 0.5 percent to 8,312.57, driven by foreign buying in mining and consumer shares. Malaysia’s KLCI inched up 0.2 percent to 1,611.53, reversing early losses as bargain hunters supported industrial and utility counters. Singapore’s Straits Times Index rose 0.5 percent to 4,416.27. Taiwan’s TAIEX eased 0.4 percent to 24,388.21 on mild profit-taking in chipmakers, while Vietnam’s VN-Index continued its ascent, adding 0.8 percent to 969.2, led by property developers. 2025-10-24 16:54:22