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South Korea, Inter-American Development Bank plan AI cooperation hub SEOUL, October 27 (AJP) - South Korea and the Inter-American Development Bank have agreed to establish a cooperation hub focused on artificial intelligence, part of a broader effort to deepen economic and technological partnerships between South Korea and Latin America. The agreement came during the seventh Korea–Latin America Business Summit in Seoul, where Deputy Prime Minister and Economy and Finance Minister Koo Yun-cheol met with IDB President Ilan Goldfajn. The two leaders signed a letter of intent outlining plans for collaboration in artificial intelligence, critical minerals, and energy. Under the new framework, South Korea and the IDB will jointly develop an AI cooperation hub aimed at facilitating knowledge exchange and helping Korean companies expand into Latin American markets. Koo said the initiative would serve as a platform for linking Korean technological expertise with regional development opportunities. Goldfajn congratulated South Korea on the 20th anniversary of its accession to the IDB and thanked Seoul for its continued support of Latin America’s development. The two sides also agreed to strengthen efforts to expand the presence of Korean professionals within the IDB. Goldfajn emphasized the importance of attracting more Korean talent to the institution, citing ongoing initiatives such as internship programs and a Korean-language website to increase engagement. Officials said the partnership reflects a growing convergence between South Korea’s technological ambitions and Latin America’s push to modernize key industries, marking a new phase in a two-decade relationship that has evolved from development aid to strategic collaboration. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 14:56:28 -
BTS's RM to speak at APEC CEO Summit this week SEOUL, October 27 (AJP) - RM, the leader of K-pop juggernaut BTS, will deliver a keynote speech at the CEO Summit on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju this week. Although specific details remain under wraps, he is scheduled to speak for about 10 minutes on Wednesday, focusing on the country's soft power and how cultural creativity can nurture local industries. Over 1,700 global business leaders, including Nvidia CEO Jensen Huang and CATL Chairman Zeng Yuqun, are expected to converge in the historic city to discuss the latest developments in technology as well as major global issues from artificial intelligence and semiconductors to energy and culture. RM previously spoke at the United Nations' General Assembly in 2018 as a global youth representative and delivered a message of hope during the coronavirus pandemic in 2020, garnering international attention. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 14:33:23 -
South Korea, Saudi Arabia deepen ties in shipbuilding, automobiles, AI under Vision 2030 SEOUL, October 27 (AJP) - South Korea and Saudi Arabia agreed on Monday to expand cooperation across a range of industries — including shipbuilding, automobiles, and artificial intelligence — as the two nations seek to strengthen ties aligned with Riyadh’s Vision 2030 initiative. Moon Shin-hak, South Korea’s deputy minister of trade, industry and energy, met with Abdullah bin Ali Al-Ahmari, Saudi Arabia’s deputy minister of industry and mineral resources, in Seoul to discuss joint projects and support for South Korean companies operating in the kingdom. The talks followed the fifth Korea-Saudi Vision 2030 Committee meeting held in September, where the two sides reviewed progress on flagship cooperation projects. During Monday’s meeting, Moon highlighted South Korean companies’ role in advancing Saudi Arabia’s Vision 2030 goals — particularly in industrial diversification and technology development — and called for continued support from the Saudi government. Both countries agreed to strengthen collaboration on major industrial projects, including the International Maritime Industries (IMI) shipyard in the King Salman Maritime Complex and Hyundai Motor’s assembly plant in King Abdullah City. They also discussed advancing eco-friendly ship technologies and developing hydrogen infrastructure for next-generation vehicles. Moon proposed expanding cooperation in artificial intelligence and digital infrastructure, including semiconductor development, data centers, and smart manufacturing systems. He also suggested joint initiatives in emerging fields such as digital twins, cloud computing, and robotics. Al-Ahmari welcomed the proposals, saying Riyadh viewed South Korea as a key partner in building high-tech industries and sustainable manufacturing capacity. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 14:27:14 -
Korea-France Space Forum highlights growing partnership in space exploration SEOUL, October 27 (AJP) - Government officials, scientists, and industry leaders from South Korea and France gathered in Seoul on Monday for the fifth Korea-France Space Forum, underscoring the two nations’ expanding collaboration in space exploration and technology. Held at the Four Seasons Hotel, the forum brought together representatives from the Korea Space Agency and France’s National Centre for Space Studies, known as CNES, as well as executives from major aerospace companies and research institutions. The event featured presentations on national space strategies and panel discussions on strategic autonomy, reusable launch vehicles, and the future of commercial space services. Discussions centered on how the two countries can strengthen cooperation in areas such as next-generation orbital systems, satellite operations, and space security. In the session on strategic space autonomy, experts from both sides explored developments in reusable launch vehicle technologies and examined how private companies could contribute to government-led space security efforts. France, a leading member of the European Space Agency, is regarded as a global leader in space transportation and satellite navigation. South Korea, which recently launched its national space agency, is accelerating its push to develop independent launch capabilities and expand international partnerships. “The Korea-France Space Forum offers an important platform for dialogue and collaboration,” said Lionel Suchet, chief operating officer of CNES. “Our two nations have complementary expertise, and this exchange helps us move forward together in the new era of space development.” Yoon Young-bin, head of the Korea Space Agency, said the forum would “help lay the groundwork for joint research, technology exchange, and innovative industrial partnerships.” The forum concluded with the signing of a comprehensive cooperation agreement between the two agencies, setting the stage for deeper collaboration in exploration, satellite technology, and the commercial space sector. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 14:02:58 -
Kevin Kim appointed acting US envoy to Seoul SEOUL, October 27 (AJP) - Kevin Kim, a senior official in the U.S. State Department, "has been appointed Chargé d'Affaires, ad interim," the U.S. Embassy in Seoul said in press release on Monday. Kim "previously served as senior bureau official for the Bureau of East Asian and Pacific Affairs and deputy assistant secretary for Japan, Korea, and Mongolia," it said, adding that he will work with embassy staff and the South Korean government to enhance "mutual interests and shared values" as well as Washington's "ironclad commitment" to the biliteral alliance. It also shared that the department expressed its "deep gratitude" to outgoing Acting Ambassador Joseph Yoon for his "leadership and dedication in advancing the Unites States' interests." Kim, like his predecessor, is of Korean descent and handled North Korea-related affairs at the department from 2018 to 2020, assisting then-Special Representative for North Korea Stephen Biegun. It seems unusual that another acting ambassador will assume the role, given that the post is meant to be filled temporarily until a formal envoy is appointed, which requires Senate confirmation and takes several months. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 14:01:33 -
KOSPI breaks 4,000 for first time in 45 yrs, Nikkei also at historic high SEOUL, October 27 (AJP) - Korean and Japanese stock markets celebrated historic milestones Monday, with both the KOSPI and Nikkei breaking past symbolic thresholds for the first time in their histories. The KOSPI jumped 2.3 percent to 4,032.49 around midday, topping the 4,000 mark for the first time in its 45-year history. Bellwethers Samsung Electronics and SK hynix led the charge, each hitting record levels — 100,000 won ($70) and 500,000 won, respectively. Advancers outnumbered decliners 595 to 282, with institutional investors net buying nearly 600 billion won, while retail investors offloaded about 485 billion won to take profits from recent rallies. The surge drew international attention after The Wall Street Journal cited Korea as one of this year’s best-performing markets, with the KOSPI’s 64-percent rise far outpacing other major indices — the MSCI All Country World ex-USA Index gained about 26 percent, the S&P 500 15 percent, Germany’s DAX 22 percent, Japan’s Nikkei 225 24 percent, and the U.K.’s FTSE 100 18 percent. Petrochemical and battery shares extended their red-hot run, with Isu Chemical hitting the daily upper limit with a 30-percent surge, and EcoPro soaring 12 percent by midday. The KOSDAQ also advanced 1.8 percent to 899.05, nearing the 900 mark for only the second time since its first-ever breach 19 months ago. “Foreign investors are returning to the Korean market in full force, drawn by attractive valuations and strong earnings momentum,” said Lee Jae-hyun, analyst at Mirae Asset Securities. In Tokyo, the Nikkei 225 surged 2.1 percent to 50,230.45, marking the first time Japan’s premier stock index has crossed the 50,000 threshold. The rally followed a U.S.-China trade framework deal reached over the weekend in Kuala Lumpur and growing expectations of another U.S. Federal Reserve rate cut at the upcoming policy meeting. Sentiment was further boosted by anticipation of bilateral talks between U.S. President Donald Trump and Chinese President Xi Jinping later this week in Seoul. Elsewhere in Asia, China’s Shanghai Composite gained 0.5 percent to 3,890, Taiwan’s TAIEX rose 0.7 percent, and Hong Kong’s Hang Seng Index climbed 0.9 percent. 2025-10-27 11:55:35 -
Korean crypto platforms under scrutiny for ties to sanctioned Cambodian exchange SEOUL, October 27 (AJP) - South Korean cryptocurrency exchanges have been drawn into a widening money-laundering network tied to North Korean hackers, with transactions flowing through a Cambodian exchange under U.S. sanctions surging nearly 1,400-fold in a year, government data show. According to figures submitted to lawmakers by the Financial Supervisory Service, the total volume of cryptocurrency traded between South Korea’s five largest exchanges — Upbit, Bithumb, Coinone, Korbit, and GOPAX — and Cambodia’s Huiwon Guarantee reached 12.8 billion won, or about $9.2 million, last year. That marks a dramatic rise from just 9.22 million won in 2023. Huiwon Group, which operates the Cambodian exchange, has been identified by U.S. and British authorities as a transnational criminal organization involved in online scams and money laundering for North Korea’s Lazarus Group, a hacking collective accused of stealing billions of dollars in cryptocurrency. Bithumb accounted for the vast majority of the transactions, with its dealings with Huiwon soaring from 9.22 million won in 2023 to 12.4 billion won last year, and another 2.1 billion won recorded by May this year. Upbit, the nation’s largest exchange, also saw a sharp increase, from zero in 2023 to 360 million won in 2024. Nearly all of the funds — about 99.9 percent — were traded in Tether, or USDT, a stablecoin pegged to the U.S. dollar that has become a preferred vehicle for illicit cross-border transfers due to its liquidity and relative anonymity. South Korean exchanges have come under criticism for failing to act swiftly after the U.S. Treasury imposed sanctions on Huiwon Group earlier this year. Despite the designation, several platforms reportedly continued processing related transactions for months. Bithumb only moved to block transactions on May 2 — one day after the sanctions announcement. “The sharp rise in stablecoin transactions between South Korea and Cambodia demands serious scrutiny,” Rep. Lee Yang-soo of the main opposition People Power Party, said Monday. “Financial authorities must strengthen oversight to prevent domestic platforms from becoming conduits for laundering by foreign crime organizations.” The Financial Supervisory Service has not yet commented publicly on whether it plans to investigate the exchanges involved. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-27 11:14:57 -
'Sticking points' still remain in trade negotiations with US ahead of Trump visit, Lee says SEOUL, October 27 (AJP) - South Korea remains "stuck on key points" over the details of the country's investment pledge to the U.S., President Lee Jae Myung said in an interview with Bloomberg conducted last Friday and released on Monday. The pledge was part of a broader trade deal last July, in which Seoul agreed to invest US$350 billion in the U.S. in return for lowering reciprocal tariffs from 25 percent to 15 percent, but the two sides have remained deadlocked over how to fund the massive investment, with negotiations stalled since then. "The method of investment, the amount of investment, the timeline and how we will share the losses and divide the dividends - all of these remain sticking points," Lee said. "The U.S. will of course try to maximize its interests, but it mustn't be to the extent that causes catastrophic consequences for South Korea." But he added, "The discussion is ongoing, and there are some differences of opinion, but the delay does not necessarily mean that this is a failure," further elaborating that the two allies "will be able to reach a rational result that is acceptable to all sides and this is what has to be done." Lee's comments come as he is set to hold talks with U.S. President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju later this week, suggesting that the two sides may not be able to resolve their differences in time to finalize the deal. 2025-10-27 11:06:25 -
South Korean institute to collaborate with University of Missouri on atomic energy SEOUL, October 27 (AJP) - The Korea Atomic Energy Research Institute and the University of Missouri have signed a five-year agreement to deepen cooperation in nuclear research and development, South Korea’s Ministry of Science and ICT said Monday. The agreement, signed at the institute’s headquarters in Daejeon, establishes a framework for joint research, personnel exchanges, and shared use of facilities. The two institutions will collaborate in six key areas: reactor technology, measurement systems, radioisotopes, neutron beams, materials science, and advanced computing. The partnership will include joint training programs and international research planning, with both sides expected to expand cooperation through shared reactor design and operational expertise. “South Korea, once a recipient of U.S. nuclear technology aid, now stands as an equal partner in next-generation research development,” Ku Hyuk-chae, South Korea’s first vice minister of science and ICT. Joo Han-kyu, president of the Korea Atomic Energy Research Institute, said, "The collaboration will establish a sustainable model for technological cooperation following our research reactor exports.” Mun Y. Choi, president of the University of Missouri, described the agreement as “a model for Korea–U.S. nuclear research collaboration,” expressing optimism about the long-term impact on scientific exchange between the two countries. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 10:36:32 -
Defense chiefs of South Korea, US to hold annual security talks in Seoul next week SEOUL, October 27 (AJP) - South Korean and U.S. defense chiefs will meet in Seoul next week. According to the Ministry of National Defense, Defense Minister Ahn Kyu-back will hold talks with U.S. Secretary of War Pete Hegseth for their annual Security Consultative Meeting (SCM) in Seoul on Nov. 4. The working-level talks between the two, which will cover key military policies and security issues, mark the first such meeting since the new administrations of both countries took office earlier this year. "A wide range of topics will be discussed to strengthen the bilateral alliance in a future-oriented and mutually beneficial manner, in response to changing security environments and threats," the ministry said. These include coordination on policies toward North Korea, a combined defense posture, extended deterrence, regional security cooperation, and collaboration in the defense industry. In a press release earlier, the U.S. Department of War said Hegseth will "applaud Seoul's willingness to step up on defense spending and assume greater responsibility for the alliance's deterrence and defense," suggesting that the modernization of the bilateral alliance will be discussed including possible changes to the role of U.S. Forces Korea (USFK) and adjustments to South Korea's defense spending. Discussions on the transfer of wartime operational control (OPCON) to Seoul are also expected to be on the agenda. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-27 10:09:44