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KOSPI loses early gains as Asian stocks retreat on trade war flare-up SEOUL, October 14 (AJP) - South Korea’s record-setting morning session turned into broad selling by the close, as investors across Asia recoiled from a new chapter in the U.S.–China trade conflict. The benchmark KOSPI slipped 0.63 percent to 3,561.81, after hitting an intraday record high of 3,637.45 earlier in the day. The Kosdaq also dropped 1.46 percent to 847.96. Samsung Electronics, which spearheaded the morning rally on record-breaking third-quarter results, fell 1.39 percent to 92,000 won as investors locked in profits. SK Hynix declined 0.72 percent to 412,000 won. Foreign investors turned cautious after China imposed sanctions on U.S. subsidiaries of Hanwha Ocean in response to Washington’s new shipping curbs. In Taiwan, the TAIEX, which had tracked the early chip rally, closed 0.48 percent lower at 26,793.15. Japan’s Nikkei 225 was the biggest regional loser, tumbling 2.58 percent to 46,847.32 amid political upheaval. The collapse of the 26-year coalition between the ruling Liberal Democratic Party and its partner Komeito clouded the outlook for Sanae Takaichi’s rise as Japan’s first female prime minister. 2025-10-14 17:53:04 -
Naver Webtoon steals NY Comic Con show with Disney and BOOM extended family SEOUL, October 14 (AJP) - Naver Webtoon can no longer be seen as an exotic newcomer from Korea after its standout showing at the 2025 New York Comic Con (NYCC), held at the Javits Center in New York City from Oct. 9 to 12. One of the largest pop culture conventions in the United States, NYCC celebrates comics, graphic novels, animation, film, and television, drawing more than 200,000 fans from around the world each year. Webtoon's presence this year embodied everything the event stands for. Its growing partnership portfolio now includes global entertainment powerhouses such as the Walt Disney Company and U.S. comic publisher BOOM! Studios, giving it a commanding place alongside the world's most influential creative players. Marking its second consecutive appearance at NYCC, Webtoon showcased a vibrant lineup featuring characters from original series like "Teenage Mercenary" and "Omniscient Reader's Viewpoint," as well as popular IP collaborations with its North American publishing partners. The booth captivated visitors with immersive visuals, diverse art styles, and interactive storytelling experiences. Just two years ago, Webtoon's footprint at NYCC was virtually nonexistent. The sight of the platform's massive exhibition booth this year underscored how quickly its influence has expanded across North America, evolving from niche curiosity to mainstream force. According to Korea's Comic Industry White Paper, the U.S. e-comic market reached $1.87 billion in 2023, nearly double its size in 2018. Although post-pandemic consumption slowed slightly, online readership remains robust. Naver Webtoon owes much of its momentum to the U.S. market, which now accounts for around 20 million monthly active users — about 70 percent of its global readership. Its 2024 Nasdaq debut, which saw shares jump 10 percent on the first day of trading, symbolized not just investor confidence but the global recognition of Korean digital storytelling. Beyond the numbers, Webtoon continues to nurture a broad creative ecosystem. It runs open platforms that empower amateur artists and hosts international contests to discover new voices, enabling creators to shape stories that resonate within their own cultural contexts. The company now counts 26 million creators and over 64 million works worldwide, spanning genres from romance to mythology. Among its biggest success stories is "Lore Olympus," a breakout hit that swept the Harvey, Ringo, and Eisner Awards — the comic industry's top honors — all in the same year, marking a first for a webtoon. Fortune Business Insights projects that the global webtoon market will grow from $8.5 billion in 2025 to $13.7 billion by 2032, reflecting expanding demand for serialized digital storytelling. Webtoon Entertainment's second-quarter revenue climbed to $348 million, up 8.5 percent year-on-year, while operating losses narrowed by nearly 90 percent, signaling that the platform's global expansion is beginning to translate into profitability. "Japan and North America are our twin engines," a company spokesperson said. "We'll expand creator partnerships and build a stronger ecosystem in the U.S. The story of Webtoon has only just begun." 2025-10-14 17:16:14 -
From traditional to street, the K-food lineup rich for APEC summit SEOUL, October 14 (AJP) - It remains unclear whether the APEC summit in Gyeongju, South Korea, will stage a face-to-face meeting between the U.S. and Chinese leaders later this month, but organizers have ensured a rich and diverse lineup of Korean food and cuisine. Food industry leaders Nongshim, CJ Cheiljedang, and Kyochon F&B have joined household names like Samsung Electronics as official corporate sponsors of the event. They are joined by younger franchises such as Okdongsik and Young Dabang, showcasing a blend of traditional, fusion, and street-food experiences to global attendees. Nongshim, which commands nearly 50 percent of South Korea's ramyun market, will provide 10,000 packets of “Shin Ramyun” featuring characters from Netflix's hit animated series “K-pop Demon Hunters.” The noodle maker, which saw a major brand boost from the film’s global success, will also operate a booth where APEC visitors can enjoy instant noodles just like the characters in the animation. CJ Cheiljedang is set to feature a range of Korean staples including cupbap (rice cup), gim (seaweed) snacks, and tteokbokki (spicy rice cakes). The company’s global frozen-food brand “Bibigo,” already an official partner of the Los Angeles Lakers since 2021, will also be highlighted as part of the K-food showcase. Restaurant chains are taking varied approaches to promote their products. Kyochon F&B, best known for its fried-chicken franchise “Kyochon Chicken,” will operate food trucks at the venue to reinforce Korea’s reputation as the world’s fried-chicken capital. Newer brands such as Okdongsik, Young Dabang, and Buchang Bakery have been invited to offer a more diverse taste of Korean dining — spanning from traditional comfort dishes to trendy street food. Okdongsik, famed for its signature dwaeji gomtang (pork soup), was named one of New York City’s top 100 restaurants by The New York Times. Young Dabang, a snack-bar franchise serving modern variations of tteokbokki and pork cutlet, is also expanding abroad, with branches in the United States, Japan, and several Southeast Asian countries. Edward Lee, a Korean American chef known for his appearances on Netflix’s cooking competition “Culinary Class Wars,” will collaborate with chefs from Lotte Hotel to prepare the leaders’ welcome dinner on October 31. Food featured in Korean cultural exports like “K-pop Demon Hunters” and “Squid Game” continues to fuel the global appetite for Korean culture. Yet experts caution that sustaining the K-food boom will require a long-term strategy. “The continued growth of authentic Korean cuisine abroad will depend on effective localization, customization, and R&D,” said Seulki Lee, professor of Hotel and Tourism Management at Sejong University. “A fine balance between authenticity and versatility must be achieved to ensure Korean food retains its global appeal.” 2025-10-14 17:01:17 -
Lee calls for urgent rescue of kidnapped South Koreans in Cambodia SEOUL, October 14 (AJP) - President Lee Jae Myung on Tuesday called for using "all available resources" to bring South Korean nationals kidnapped in Cambodia home. During a cabinet meeting with key officials at the presidential office in Yongsan, Seoul, Lee urged officials to "promptly mobilize all available resources to secure the safety of South Korean citizens in Cambodia." His remarks came after the recent revelation that a South Korean college student who visited the Southeast Asian country after being lured by an online employment scam in August was later found to have been tortured to death. "Related ministries and government agencies should establish a regular communication channel between the security authorities of the two countries," Lee said, adding that all South Korean nationals kidnapped in Cambodia should be promptly located and brought home. To prevent similar incidents, he also stressed the need to tighten travel restrictions in areas with a high risk of crime. Last Friday, the Ministry of Foreign Affairs raised advisory levels for Phnom Penh, urging visitors to cancel or postpone trips to the Cambodian capital unless travel is urgent. Lee also called for ensuring sufficient staffing and budget allocations for embassies abroad so they can provide timely assistance to South Koreans in need. With the country's ambassadorial post to Cambodia vacant for more than three months, Seoul has been in consultations with Phnom Penh to increase the number of police officers at the embassy there, which currently has just three personnel, and to establish a dedicated task force within the Cambodian police to handle crime cases involving South Koreans. Crimes targeting South Koreans in Cambodia rose sharply, from single-digit cases in 2021 to around 200 in 2024, and have already surpassed 300 so far this year. According to the ministry, the whereabouts of about 80 South Korean citizens remain unknown, out of some 143 reported cases of individuals suspected of being kidnapped or missing. Cambodia has reportedly become a hub for multinational crime rings that kidnap victims and force them into online scams and phishing schemes. 2025-10-14 16:31:44 -
Korean petrochemical players mull exit from ever-crowding money-losing market SEOUL, October 14 (AJP) - South Korean petrochemical producers are opting to bow out of the China-dominant game as they struggle to stay afloat despite government-mandated streamlining and output controls. SKC and Kuwait's Petrochemical Industries Company (PIC) are reportedly seeking a buyer for their combined stake in joint venture SK picglobal, as market woes from Chinese oversupply and Middle Eastern competition have spilled over from basic petrochemicals to downstream products, threatening the viability of even high-value chemical makers. SK picglobal, established in 2020 when SKC spun off its chemical operations, produces propylene oxide and other specialty chemicals used in automotive interiors, cosmetics, and pharmaceuticals. SKC holds a 51 percent stake, while PIC owns the remaining 49 percent, which it acquired for about 536 billion won shortly after the spinoff. The joint venture was once considered a model of advanced materials innovation, pioneering domestic commercial production of propylene oxide, a key ingredient in polyurethane. After reporting a record operating profit of 332 billion won in 2021, SK picglobal fell into the red as an influx of cheap Chinese products eroded margins. The company posted a loss of 33 billion won in the first half of this year. The downturn mirrors the broader struggles across South Korea’s petrochemical industry, where companies expanded aggressively even as profit margins deteriorated. The country currently operates 10 naphtha crackers — four each in Yeosu and Daesan and two in Ulsan — with annual ethylene capacity of about 13 million tons, ranking fourth globally after China, the United States, and Saudi Arabia. Ethylene, a colorless and flammable gas with a faint sweet odor, is a fundamental building block for plastics and other petrochemical products. SK picglobal's flagship product, propylene oxide, is also a co-product of ethylene production. Domestic ethylene capacity is expected to rise further to nearly 14.7 million tons once S-Oil completes its Shaheen project in late 2026, adding pressure to an industry already squeezed by Chinese overproduction and new Middle Eastern entrants. In response, the government has brokered a "voluntary agreement" among producers to reduce naphtha cracking output by 2.7 to 3.7 million tons, or up to 25 percent of total capacity, as part of an industry restructuring effort. "Chinese competition, Middle Eastern entry, and ethylene overproduction are all battering Korean producers. Ethylene is constantly losing profitability," said a spokesperson for the Korea Chemical Industry Association. Alongside capacity cuts, companies are pursuing vertical integration to survive. By merging with naphtha producers, chemical manufacturers aim to lower costs and phase out excess capacity through facility closures. Lotte Chemical and HD Hyundai Oilbank are leading the effort at the Daesan complex in South Chungcheong Province, where they are in talks to consolidate operations. The two companies already collaborate through their joint oil venture, HD Hyundai Chemical. In Ulsan, SK Geo Centric and Korea Petrochemical are exploring a potential partnership. The Ulsan complex has an annual ethylene capacity of 1.76 million tons, smaller than Yeosu's 6.27 million tons and Daesan's 4.78 million tons. The Yeosu complex poses the biggest challenge, industry officials say, as it faces the largest required capacity cuts and involves multiple stakeholders, including Yeochun NCC, LG Chem, and Lotte Chemical. Negotiations have been slow and difficult. "Now with the Middle East also rushing into the competition, we need advanced technology to gain the upper hand," said Koo Su-jin, professor of petrochemical process engineering at Korea Polytechnics. "Korean petrochemical firms and the government should invest more in cutting-edge refining and catalyst technology to reduce nitrogen oxide and sulfur oxide emissions, which can strengthen global competitiveness." 2025-10-14 16:01:39 -
Samsung Electronics to gift stock-tied compensation for employees SEOUL, October 14 (AJP) - Samsung Electronics will grant company shares to employees tied to its stock performance over the next three years, the Korean tech giant announced Tuesday in an internal notice following record quarterly sales in the third quarter. The program, called Performance Stock Units (PSU), is designed to motivate employees by linking long-term compensation to the company’s future performance and share price growth. Unlike the company’s existing annual bonus system based on short-term results, the new scheme rewards employees with stock whose final value depends on multi-year outcomes. Under the plan, Samsung will grant 200 shares to Career Level 1–2 employees and 300 shares to Career Level 3–4 employees this month. The final number of shares to be distributed will be determined after three years based on the degree of stock price appreciation, with payments made in three equal installments starting in 2028. The higher the stock price rise over the three-year period, the greater the compensation employees will receive. The announcement follows Samsung’s best-ever quarterly sales and three-year high operating profit for the July–September period, with shares nearing the symbolic 100,000 won threshold. Shares closed 1.8 percent lower at 91,600 won on Tuesday on profit-taking. 2025-10-14 15:56:01 -
Samsung Elec's record-setting Q3 results signal strongest-yet chip boom SEOUL, October 14 (AJP) - Despite lingering doubts over the durability and scope of the so-called AI-fueled chip supercycle, Samsung Electronics’ record-setting earnings guidance for the third quarter has set a new benchmark for the ongoing semiconductor boom. The South Korean tech giant on Tuesday projected an operating profit of 12.1 trillion won ($9.1 billion) for the July–September period, more than doubling from the previous quarter and marking the strongest quarterly performance since the second quarter of 2022. Revenue also hit a new quarterly high of 86 trillion won, up 15.3 percent on quarter and 8.7 percent on year. The stellar rebound comes after Samsung, for the first time in memory chip history, temporarily ceded its No. 1 position to local rival SK hynix earlier this year amid delays in its transition to high-bandwidth memory (HBM), critical to powering AI chips. Although the company’s contract with AI leader Nvidia has stalled, Samsung has secured new orders from Advanced Micro Devices (AMD) and Tesla, signaling progress in its next-generation AI chip portfolio. While the firm does not release divisional breakdowns in preliminary guidance, industry watchers estimate that the Device Solutions (DS) division — responsible for semiconductors — earned between 5 trillion and 6 trillion won, up sharply from 400 billion won in the second quarter. Investor sentiment remains upbeat that the strong run will extend well into next year. Kim Dong-won, analyst at KB Securities, forecast Samsung’s 2025 operating profit at 53.5 trillion won, the highest since 2018, driven by rising DRAM profitability and higher foundry utilization rates. The optimism is underpinned by firming memory prices. According to DRAMeXchange, the average fixed transaction price for PC DRAM (DDR4 8Gb 1Gx8) in September was $6.30, up 10.5 percent from August and surpassing the $6 mark for the first time since January 2019. The rebound reflects supply cuts in generic DRAM as chipmakers focus on high-performance server memory. The strength extends across the industry. Micron Technology, the U.S.-based DRAM producer, posted an operating profit of $2.2 billion on $9.3 billion in revenue for its latest fiscal quarter. Analysts say memory makers such as Samsung, SK hynix, and Micron are next in line to benefit from the AI-driven surge that has already lifted TSMC and Nvidia. SK hynix, a frontrunner in HBM and AI memory, is expected to post a record 11.6 trillion won in third-quarter operating profit, according to Son In-jun of Heungkuk Securities, citing sustained DRAM and NAND shipments. TrendForce and other research firms forecast that average DRAM contract prices will continue to strengthen into the fourth quarter and next year, supported by resilient AI server demand and tight supply conditions. Samsung shares closed 1.8 percent lower at 91,600 won on Tuesday after hitting an intraday high of 96,000 won, as investors took profits following the earnings announcement. 2025-10-14 15:55:40 -
KT, Palantir CEOs meet in Seoul to deepen AI partnership SEOUL, October 14 (AJP) - South Korean telecom company KT said Tuesday its chief executive, Kim Young-seop, met with Alex Karp, the CEO of U.S. data analytics firm Palantir Technologies, in Seoul to discuss ways to expand the use of Palantir’s artificial intelligence platforms across South Korean industries. The meeting, held at KT’s headquarters in Gwanghwamun, centered on how to implement Palantir’s technology for local businesses in sectors ranging from finance to manufacturing and public services. Karp’s visit coincided with KT’s AX Leader Summit, an AI-focused forum that brought together senior executives from major Korean companies, including Woo Ki-hong of Korean Air, Kim Yong-beom of Meritz Financial Group, Koo Ja-kyun of LS Electric, and Lee Joo-tae of POSCO Holdings. KT is currently piloting Palantir’s AI platform in its cloud-based systems to evaluate their effectiveness in analyzing complex corporate data and supporting management decisions. The company said it has gained consulting and technical know-how through these trials and plans to package them into integrated AI services for Korean clients, particularly in sectors where data security is critical. “Our collaboration with Palantir will become a model for AI-driven innovation across South Korea’s key industries,” Kim said. “We aim to enhance decision-making and operational efficiency through responsible AI use.” Karp described the partnership as “a significant step forward in secure cloud-based data utilization and industry-specific innovation,” according to KT. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-14 15:50:32 -
PHOTOS: A fruit paradise born from Bangkok's dawn market SEOUL, October 14 (AJP) - The Thai Market was already alive with energy. The first impression upon entering was the sheer scale. The space stretched across what felt like several football fields, with a ceiling as high as a five-story building. Yet even that vastness was filled with the scent of fruit. The air was thick with the sweet, heavy fragrance of mangoes, durians, bananas, dragon fruit, and pineapples. Located about an hour’s drive from Suvarnabhumi Airport, this market—whose name, “Talaad Thai” literally means “Thai Market”—is the largest wholesale market in the country. Fruits were piled high like mountains. Pomelos and pineapples formed pyramids, and vendors stood atop trucks unloading crates with astonishing speed. Each section dedicated to a single fruit seemed to hold several tons. Trucks from across Thailand began arriving around 3 a.m., joined by motorbikes fitted with cargo platforms. Headlights flickered on one by one, engines rumbled, and the market woke to life. Once the fruit arrived, the real work began—unloading, trimming, sorting, and boxing. Teams of workers handled knives and boxes with the precision of professionals. Every piece was inspected for quality, graded by size, and packed for delivery. The entire process took place before dawn so the fruit could reach markets and restaurants across Bangkok by morning. The workers moved with the rhythm of a well-trained dance troupe. No one gave orders, yet everyone knew their role—one person tossing boxes from the truck, another catching and stacking them, others sorting and repacking. Their coordinated movements were seamless. The biggest attraction of Talaad Thai is its price. Even in Thailand, where food is known to be affordable, this market stands apart. Fruits here cost about 30 percent less than at regular stores or supermarkets. The reason is simple: there is no middleman. Farmers sell directly to restaurant owners and retailers. By morning, the fruit that arrived in the dark spreads across the city—from luxury hotel buffets to street stalls. Although it is a wholesale market, individuals can also buy here. Locals often come with friends or neighbors to share their purchases. The variety of fruit is astonishing. The durian section, unique to Southeast Asia, is especially memorable. Known as the “king of fruits,” durians are stacked by size, their rich aroma noticeable even meters away. At first the smell can be overwhelming, but it soon becomes familiar—earthy, nutty, and sweet. The banana section is equally striking, with green bunches stretching like a sea. Hundreds, even thousands of clusters are arranged neatly in rows. Mangoes, in contrast, display a palette of colors—yellow, green, and red-tinted varieties. Each type serves a different purpose: some are eaten fresh, others are used in cooking or juicing. Talaad Thai is not a tourist attraction. There are no flashy signs or English explanations, and the wet floors glisten with fruit juice. But that rawness is its charm. It offers a glimpse of everyday Bangkok—unfiltered and alive. The heat of the market before sunrise, the heaps of fruit tumbling from trucks, the scent rising to the high ceilings, and the swift hands of the vendors all reveal another face of the city. This is a side of Bangkok that guidebooks rarely show. Instead of golden temples or shopping malls, it shows how the city truly functions. Here, you can watch where the fruit eaten by millions of Bangkok residents each morning begins its journey. 2025-10-14 15:17:50 -
Korea's top delivery operator Woowa takes in No. 1 industrial accident claim infamy with pride SEOUL, October 14 (AJP) - Woowa Youths, the logistics arm of Woowa Brothers, operator of South Korea's largest food delivery platform Baemin, remains atop the corporate rank on industrial accident insurance claims, but admits the infamy with grace rather than excuse. According to Workers' Compensation and Welfare Service data provided to Democratic Party lawmaker Park Hae-cheol, Woowa Youths filed 1,135 industrial accident claims as of August this year, with 1,071 approved—a 94 percent approval rate. While the numbers suggest the company has achieved top accident statistics for the fourth consecutive year, Woowa officials say the data tell a different story. "There are around 480,000 to 500,000 active riders nationwide, which is far larger than the workforce of any single industry," a Woowa Youths official told AJP on Tuesday. "Our rate of accidents per 1,000 riders has actually been dropping every year. What you’re seeing is a reflection of our scale and the fact that we don’t reject claims. We accept nearly every rider’s application." In industries like construction or manufacturing, industrial accident claims are often met with resistance from employers who fear the financial or reputational fallout. Delivery riders, on the other hand, work as independent contractors and are free to file claims themselves, resulting in a naturally higher volume of applications. Company figures show that the overall accident rate among riders has dropped by more than half, from 2.93 percent in 2022 to 1.38 percent in 2024. Woowa Youths attributes this steady decline to the Baemin Rider School, a safety education program the company has operated since 2018. Originally located in Namyangju, a satellite city of Seoul, the school moved this year to a larger, purpose-built facility in Hanam City, east of the capital. Construction was completed in September, and the new site will begin full-scale operations in November. The training center offers real-world riding simulations and defensive driving courses for delivery workers. More than 20,000 riders have completed the program so far. Woowa Brothers, which dominates South Korea's food delivery market with a 58.7 percent share as of May 2025, according to pollster IGAWorks' Mobile Index, was the first in the industry to voluntarily provide industrial accident insurance to riders starting in 2015, years before it became mandatory by law. The company says its priority remains the safety and well-being of delivery workers, even as competition in the market intensifies. "We believe rider protection is not just a legal duty but a responsibility," the official said. "Education, safety investment, and fair compensation are what will make the delivery industry sustainable." 2025-10-14 15:08:50