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South Korea, US to soon begin talks on revising nuclear energy pact, FM says SEOUL, October 23 (AJP) - Along with ongoing tariff-related negotiations, South Korea will soon begin talks with the U.S. to revise the bilateral nuclear energy pact, which currently prevents Seoul from reprocessing its spent nuclear fuel, Foreign Minister Cho Hyun said on Thursday. He made the comments during a radio interview, confirming that some consensus has been reached on revising the decades-long pact and that relevant discussions will take place soon as part of broader security talks. Cho said Seoul has "strongly" called for the right to reprocess spent nuclear fuel and enrich uranium, and the U.S. has signaled its willingness to consider the request. Seoul and Washington first signed the pact in 1974, which details the scope of nuclear technology South Korea can use for civilian purposes. Under the pact, South Korea has been restricted from reprocessing its own spent nuclear fuel rods and enriching uranium for power generation, as Washington fears that South Korea could obtain materials to produce nuclear weapons if allowed. This is why, after years of revision talks, the U.S. only agreed in 2015 to conduct joint research with South Korea on reprocessing spent nuclear fuel rods through a process known as pyroprocessing, which does not produce weapons-grade plutonium. Meanwhile, when asked whether the two countries could finally resolve several contentious issues in trade negotiations in time for next week's Asia-Pacific Economic Cooperation (APEC) summit, he said, "There is no strict deadline," explaining that President Lee Jae Myung has stressed "prioritizing national interests" to reach a deal that should be "commercially rational." He added, "If these conditions are not met, negotiations may take more time." Despite difficulties in ironing out the complex aspects of the negotiations such as how to fulfill and fund Seoul's $350 billion investment in the U.S., part of the deal reached last July to lower reciprocal tariffs from 25 percent to 15 percent, Cho pledged to achieve a "win-win" solution for both countries. 2025-10-23 10:34:12 -
LG Electronics to expand automotive software business SEOUL, October 23 (AJP) - LG Electronics said Thursday that it has joined SDVerse, a global automotive software marketplace established by General Motors, Magna, and Wipro — a move that underscores the South Korean company’s growing ambitions in vehicle software. Billed as the industry’s first open marketplace for automotive software, SDVerse brings together automakers, Tier 1 suppliers, and developers to accelerate software innovation across the mobility sector. The platform allows buyers to compare software offerings and verify quality standards, while giving sellers access to leading car manufacturers and suppliers. Through its participation, LG aims to expand its presence in the software-defined vehicle (SDV) ecosystem. The company plans to introduce a range of mobility software products on SDVerse, including its proprietary LG αWare platform. LG has already positioned itself as a key technology partner for global automakers, offering in-cabin sensing systems, telematics solutions, and its webOS content platform — technologies that enhance driver safety, connectivity, and entertainment. At the IAA Mobility 2025 exhibition in Munich last September, LG showcased its webOS-based in-vehicle platform, emphasizing its vision to transform cars into “living spaces on wheels.” “By providing proven automotive software solutions, we aim to accelerate innovation for our clients and partners,” said Eun Seok-hyun, president of LG’s mobility business division. “This collaboration will strengthen our competitiveness and contribute to a more dynamic automotive software ecosystem.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 10:16:37 -
Bank of Korea holds rate steady at 2.5% amid FX, housing instability SEOUL, October 23 (AJP) - The Bank of Korea kept its benchmark interest rate unchanged at 2.50 percent for October, maintaining its cautious stance amid continued volatility in foreign exchange and housing markets. The Monetary Policy Board decided to hold the overnight call rate steady for the sixth consecutive month, citing limited room for monetary easing as it monitors the impact of the pending Korea–U.S. trade deal linked to a $350 billion investment package and the government’s latest efforts to curb speculative home buying. The won has remained under pressure, with the dollar hovering near 1,430 won amid delays in the tariff negotiations between Seoul and Washington. Economists warn that a premature rate cut could further weaken the won and trigger capital outflows. Bond prices rose Wednesday on expectations that the central bank may move toward a rate cut at its final policy meeting in November to support slowing growth. Korea’s economy expanded 0.7 percent in the second quarter, with the central bank set to release its third-quarter GDP estimate next Tuesday. 2025-10-23 10:16:29 -
Taihan Cable & Solution expands South Africa plant to target region's growing power market SEOUL, October 23 (AJP) - South Korea's Taihan Cable & Solution is expanding its manufacturing footprint in Africa as part of a broader effort to strengthen its competitiveness in the region’s growing power infrastructure market. The cable manufacturer held a ceremony on Oct. 22 to mark the expansion of its power cable plant in South Africa, operated by its subsidiary M-TEC. The project is designed to meet surging demand for medium- and low-voltage cables, which account for more than 90 percent of the country’s underground power market. The upgraded facility effectively doubles M-TEC’s production capacity while improving quality and cost efficiency. The ceremony drew attendees from both government and industry, including Lester Bower of South Africa’s Department of Trade, Industry and Competition; representatives from state-owned utility Eskom; executives from Taihan Cable & Solution’s local partner CIH; South Korean Ambassador Yang Dong-han; and corporate leaders Kim Dae-heon of Hoban Group and Kim Jun-seok of Taihan Cable & Solution. “This investment allows us to better respond to local demand and expand exports across Africa,” Taihan Cable & Solution said in a press release. “We aim to play a key role in stabilizing South Africa’s power grid and in supporting the region’s energy transition as a comprehensive cable provider.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 10:05:53 -
Japanese director of Korean descent to visit Seoul next month to promote his hit film SEOUL, October 23 (AJP) - Japanese film director and screenwriter of Zainichi Korean descent Lee Sang-il will visit Seoul next month. His visit, slated for mid-November to promote his latest film "National Treasure," also known as "Kokuho" comes ahead of its release in here on Nov. 19. The film, an adaptation of a novel by Shuichi Yoshida that chronicles the passionate lives of men devoted to art over half a century, was an instant hit in Japan shortly after its release, drawing over 10 million viewers in about three months. The film also earned critical acclaim when it was invited to this year's Cannes Film Festival in France in May and the Busan International Film Festival (BIFF) in the country's southern port city last month. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 09:43:41 -
North Korea says it tested 'cutting-edge weapon system' SEOUL, October 23 (AJP) - North Korea has successfully test-fired hypersonic projectiles, state media reported Thursday, calling them a "new weapon system." The state-run activities are evidently aimed to continue to bolster up the war deterrent and their purpose is to strengthen self-defense," Pak said. While details about the projectiles were not disclosed, they are presumed to be short-range ballistic missiles equipped with a hypersonic glide vehicle (HGV). The North's announcement about the launch came a day after the Joint Chiefs of Staff (JCS) here said it detected the missiles around 8:10 a.m., which flew about 350 kilometers after being launched from an area south of Pyongyang. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 09:01:03 -
Government push for real estate watchdog stirs debate in South Korea SEOUL, October 23 (AJP) - The South Korean government is moving to create a new real estate oversight agency with investigative powers, a plan that has divided opinion among policymakers and industry experts. The Ministry of Land, Infrastructure and Transport said Thursday it is pushing for the establishment of the body under the Prime Minister’s Office to monitor illegal practices such as price manipulation, false listings, and fraudulent contracts. The proposed agency would be empowered to analyze tax, financial, and credit data to trace ownership and transaction patterns. The proposed agency is the latest in a series of measures the Lee Jae Myung administration has taken to rein in rising housing prices in Seoul and surrounding Gyeonggi areas. Supporters say the new authority could serve as a much-needed control tower, consolidating oversight now scattered among multiple government entities. They argue that clearer accountability could help restore fairness and transparency to a market often rattled by speculation and irregular trading. “Even one or two abnormal transactions can significantly distort prices in a market with limited listings,” said Nam Hyuk-woo, a researcher at Woori Bank. “A dedicated oversight body could help prevent such distortions.” Real estate agents have largely welcomed the move, saying it could help root out unlicensed brokers who often escape detection during joint inspections by the police and local governments. But critics warn that the agency could add another layer of bureaucracy and further chill an already subdued property market. “Tighter scrutiny — including recent tax audits on homes valued above 2 billion won — has already dampened buyer interest,” said one industry insider, who requested anonymity. Some academics and policy experts also questioned whether a new agency is necessary. “There is a risk that the organization will focus more on justifying its existence than achieving meaningful results,” said Lee Eun-hyung, a researcher at the Korea Construction Policy Institute. Ko Jun-seok, a professor at Yonsei University, agreed on the need to curb false listings but cautioned against overreach. “The government should coordinate with existing agencies rather than interfere excessively in market operations,” he said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 08:43:14 -
Sticky points still in place in final stretch of Korea–U.S. trade deal talks SEOUL, October 23 (AJP) - “It ain’t over till it’s over,” senior Seoul officials said as they wrapped up last-mile marathon talks in Washington over a trade agreement tied to South Korea’s $350 billion investment pledge in exchange for relief from a 25 percent U.S. import levy. After a two-hour meeting with U.S. Commerce Secretary Howard Lutnick, Kim Yong-beom, policy chief to President Lee Jae-myung, told reporters, “We discussed many remaining issues and made some progress. There are only a couple of issues left, but further discussion is needed.” He declined to call the talks the “final stage,” adding, “Negotiations aren’t over until they’re over,” hinting at lingering thorny issues. Kim’s cautious tone contrasted with the optimism he expressed earlier this week when he arrived in the U.S. with Industry Minister Kim Jung-kwan, who returned to Washington in less than a week for the same purpose. Asked whether another meeting with Lutnick was planned, Kim said, “It’s difficult to meet again in person. If further discussion is needed, it might be done virtually.” He maintained hope that the two sides could reach an agreement before U.S. President Donald Trump visits Korea for the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju on Oct. 31. “APEC is an important occasion for us,” he added. Seoul and Washington agreed last July on the headline figure of a $350 billion investment commitment, under which Korea would channel that amount into U.S. projects in exchange for a reduction of tariffs on Korean automobile imports — to 15 percent from 20 percent — and relief on other sector-specific duties. But the deal has stalled as Washington demands an up-front cash payment covering most of the pledged amount — a sum equivalent to nearly 80 percent of Korea’s foreign-exchange reserves and about 16 percent of its nominal GDP in 2024. Seoul is pushing for a ten-year installment plan, committing $20 billion per year with a 5 percent cash component, citing potential shocks to the economy and exchange rate. Washington, however, is pressing for a lump-sum structure similar to Japan’s arrangement, which largely followed U.S. conditions met during Trump's four-year term. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-23 07:50:32 -
KAIST tops student survey as applications continue to climb SEOUL, October 22 (AJP) - KAIST has been ranked the top university in South Korea among respondents in their 10s to 50s, according to the 2025 INUE–Korea Economic Daily University Survey, reflecting the school's growing reputation for innovation and creative education. The university said Wednesday that 6,991 students applied for early admission to its undergraduate program for the 2026 academic year, up 7.6 percent from a year earlier. The competition rate rose from 7.98 to 1 to 8.47 to 1, marking a fourth consecutive year of increase. Compared with 2023, the number of applicants has nearly doubled. The survey also showed a clear generational divide in perceptions of higher education. While younger respondents favored KAIST as the country's best university, those in their 60s and above ranked Seoul National University highest. Despite a shrinking student population and a decline in interest in science and engineering fields, KAIST said its steady rise in applicants demonstrates continued trust in its education model and global competitiveness. Graduate programs have seen similar growth, with applications increasing by an average of 9.5 percent annually over the past four years. International applicants surged 193 percent during the same period, a trend KAIST attributes to its strong research infrastructure and global faculty. Undergraduate retention has also improved. The number of students leaving before graduation fell from 126 in the 2022 academic year to 96 in 2024, while withdrawals to enter medical or dental schools dropped from 58 to 44. "Through systems like the no-major program and the PNR grading policy, we've expanded students' freedom in choosing careers and supported the growth of creative talent," said Kim Yong-hyun, Director of Admissions. President Lee Kwang-hyung added, "The steady rise in students choosing KAIST shows that our education and research are recognized globally. Younger generations now see KAIST as the university leading future innovation." 2025-10-22 19:47:28 -
Türkiye and Korea mark 75 years since Turkish Brigade's arrival SEOUL, October 22 (AJP) - A ceremony was held at the War Memorial of Korea in Seoul on October 22 to mark the 75th anniversary of the Turkish Brigade's arrival during the Korean War. The event, organized by the Turkish Embassy in the Republic of Korea, commemorated the landing of Turkish troops in Busan on October 17, 1950, as part of the United Nations Command. Around 21,000 Turkish soldiers served in Korea between 1950 and 1953, with nearly 900 killed and missing, while 244 were taken prisoner. A total of 462 Turkish soldiers remain buried at the United Nations Memorial Cemetery in Busan. Col. Nesimi Kaplan, Türkiye's Defense and Army Attaché, delivered a speech titled "Turkish Brigade's Role in the Korean War," recalling key battles fought by the brigade, including Kunu-ri, Yongin, the Iron Triangle near Chorwon, and the Vegas front near Incheon. "The Turkish Brigade fought fiercely in almost all important battle grounds starting with the first battles with the Chinese troops in a small hamlet named Kunuri," he said. He described how Turkish troops came under attack at Kunu-ri in November 1950 while advancing north. "Fighting for three days and three nights, they managed to break the overwhelming enemy encirclement, delayed the Chinese advance, and allowed an organized retreat for allied troops, albeit suffering high casualties reaching nearly 15 percent of all its troops," Kaplan said. He also shared the story of Pilot First Lieutenant Ali Muzaffer Erdönmez, one of two Turkish Air Force officers dispatched to Korea. "He completed 24 successful sorties but was shot down and martyred on April 21, 1951, when his aircraft crashed as a result of enemy fire while performing a bombing mission in North Korean airspace," Kaplan said. "First Lieutenant Muzaffer Erdönmez is the only air force personnel among our martyrs in Korea." Ambassador Salih Murat Tamer emphasized that Türkiye's involvement in the Korean War helped forge a lasting partnership between the two countries. "In 1950, when the Korean Peninsula was engulfed in war, Türkiye was among the first nations to respond to the United Nations' call," he said. "Our young soldiers crossed the sea not for conquest, but to defend freedom and human dignity." Recalling the Battle of Kumyangjang-ri, the ambassador said, "In that battle, the Turkish Brigade showed extraordinary courage and dedication under siege. Their steadfast defense changed the course of the war and remains a symbol of brotherhood and resolve." Tamer added that the sacrifice of Turkish soldiers became the foundation of today's bilateral ties. "On behalf of the Republic of Türkiye, I extend our heartfelt gratitude to the government and people of the Republic of Korea for preserving the memory of our fallen soldiers with sincerity and respect," he said. "May their souls rest in eternal peace, and may the brotherhood between Türkiye and Korea continue to grow stronger for generations to come." The ceremony concluded with a moment of silence in honor of the fallen soldiers and floral tributes at the memorial. 2025-10-22 19:38:05