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Trump to meet Xi at APEC despite trade disputes, US official says SEOUL, October 14 (AJP) - U.S. President Donald Trump is expected to hold talks with Chinese President Xi Jinping in South Korea later this month, a senior U.S. trade official said. In an interview with Fox Business on Monday, Treasury Secretary Scott Bessent said the two leaders will meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, which is scheduled to take place in the southeastern city of Gyeongju from Oct. 31 to Nov. 1. "I believe that meeting will still be on," Bessent said, adding that "there has been substantial communications" over the weekend. He made the comments just days after Trump hinted that he might cancel his meeting with Xi in protest of Beijing's new restrictions on exports of rare earths. "I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems no reason to do so," Trump said abruptly last Friday, accusing China of taking an "extraordinarily aggressive position" on trade. He also threatened to impose additional tariffs of 100 percent on Chinese exports to the U.S. But later that day, he softened his tone, saying he would travel to South Korea "regardless" and suggesting the meeting could still take place. The latest development came after China announced plans to tighten export controls on rare earths, key materials used in the production of electronic devices, weapons, and other high-tech products, amid the two countries' ongoing trade disputes and rivalry. 2025-10-14 09:28:58 -
INTERVIEW: Samyang's food research chief leads push for healthier kind of sweetness SEOUL, October 14 (AJP) - As South Korean consumers increasingly seek healthier diets, the nation’s food industry is rapidly moving toward low-sugar and zero-sugar products. Among the companies leading this shift is Samyang, which has emerged as a major player in the market for allulose, a natural, low-calorie sweetener. Samyang began producing allulose in 2016, becoming one of the first Korean firms to enter the zero-calorie sweetener market. The ingredient offers about 70 percent of sugar’s sweetness but with almost no calories. It is now widely used in beverages, sauces and desserts that aim to cut sugar without sacrificing taste. This year, Samyang became the first foreign company to receive China’s new food ingredient certification for allulose — a recognition of its technological and global competitiveness. To learn more about the company’s strategy and research, we spoke with Han Jeong-sook, head of Samyang’s Food Research Center. Q: What exactly is allulose, and why is it gaining attention? A: Allulose is a monosaccharide with a structure similar to fructose. It provides a sweetness close to that of sugar but has nearly zero calories. Because it doesn’t affect blood sugar or insulin levels, it’s suitable for low-sugar or diabetic-friendly products. Unlike other sweeteners, it also replicates sugar’s key functions — such as viscosity and caramelization — without digestive side effects. Q: How does Samyang’s production process differ from others? A: We use naturally derived microorganisms to produce enzymes that convert fructose into allulose. This process is recognized as non-GMO, which is rare globally. It reflects our focus on transparency and safety, two qualities that consumers value highly. Q: What challenges did you face in the early stages? A: When we started, allulose was still unfamiliar to the food industry. There was little knowledge about how to apply it, and high production costs made it hard to compete. Over time, we stabilized our process, improved productivity, and achieved better economic efficiency. Q: When did allulose start to gain traction in the market? A: The turning point came as zero-calorie drinks and low-sugar products became popular. Consumers began to notice allulose because it delivers a sugar-like taste without the calories. Today, it’s used in sauces, desserts and even ice cream. Q: Samyang has mentioned combining allulose with dietary fiber. Could you explain that research? A: We’re studying combinations of allulose with fibers like resistant maltodextrin. These blends could improve gut health and help control blood sugar while maintaining sweetness and texture. It’s part of our broader goal to make sweetness functional as well as enjoyable. Q: How is Samyang expanding internationally? A: Demand for allulose is growing quickly in North America, the world’s largest low-sugar market. We’re expanding collaborations with local companies and plan to enter Europe, Australia and Southeast Asia. Our established regulatory framework will help us accelerate this expansion. Q: What new areas of research are you focusing on? A: Allulose is already used in beverages, bakery products, dairy, sauces and gummies. Our next step is to apply it to health and sports nutrition. We’re also studying its anti-obesity and antioxidant properties, which could lead to applications in functional foods. Q: As a research leader, what is your long-term goal? A: People naturally crave sweetness, but it should be something they can enjoy safely. Samyang’s mission is to create healthy sweetness — products that blend allulose with fibers and proteins to provide both taste and wellness. Our vision is simple: to let people enjoy sweetness without guilt. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-14 08:52:35 -
Samsung Elec estimates best-ever revenue and 3-year high OP for Q3 SEOUL, October 14 (AJP) - Samsung Electronics signaled a strong comeback in the latter half of the year, well beating market expectations with an estimated three-year high operating profit of 12.1 trillion won ($9.1 billion) and record-breaking revenue, fully riding on the chip boom driven by artificial-intelligence engines. Revenue reached a historic quarterly high of 86 trillion won in the three months ended September, up 15 percent from 74.6 trillion won in the previous quarter, according to the earnings guidance released Tuesday by the South Korean tech giant whose businesses range from semiconductors to smartphones and consumer electronics. It marks the first time the company’s quarterly sales have surpassed the 80-trillion-won threshold. Although Samsung does not disclose divisional details in its preliminary figures, market analysts project record-high sales from its Device Solutions division, which includes the memory and foundry businesses. Based on the stronger-than-expected headline numbers, operating profit from the semiconductor segment is estimated to approach 6 trillion won, up from 400 billion won in the second quarter. Shares of Samsung Electronics opened strong, up 2.8 percent at 95,900 won as of 9:10 a.m. Seoul. 2025-10-14 08:20:32 -
Kazakhstan taps South Korea as key partner for its national drive towards digital powerhouse SEOUL, October 13 (AJP) - Kazakhstan, the Central Asian hub eager to break away from its raw materials-based economy, is turning to South Korea as a strategic partner in its ambitious push to become a global digital and artificial intelligence powerhouse. A high-profile government delegation will visit Seoul this week to present Kazakhstan’s institutional and systemic transformation, highlighting the Alatau Smart City project as its flagship initiative. “Kazakhstan has focused heavily on digital transformation,” said Nurgali Arystanov, Kazakhstan’s ambassador to South Korea, in an interview with AJP ahead of the Alatau Rise with Kazakhstan forum in Seoul on October 15–16. “Every ministry now has a department of information technology, and most administrative work is handled digitally. This shows how serious we are about building a digital society.” The envoy pointed to the shared aspirations of Astana (formerly Nur-Sultan) and Seoul to become global digital leaders. He said Kazakhstan’s digital strategy aligns closely with South Korea’s national drive under President Lee Jae Myung to integrate AI into public services. President Kassym-Jomart Tokayev announced last month an ambitious goal to transform Kazakhstan into a fully digital nation within three years by embedding AI across all sectors. His administration recently launched the Ministry of AI and Digital Development to spearhead the initiative. “Both our countries are working toward the same goal — to make people’s lives better through technology,” Arystanov said. Located 47 kilometers north of Almaty, the Alatau Smart City is designed as a next-generation urban model integrating artificial intelligence, the Internet of Things, green energy, water-saving systems, and urban air mobility, with plans for an international airport. The Kazakh government has looked to Shenzhen and other global innovation hubs for inspiration, seeking foreign investment through special legal status and generous tax incentives. “Alatau City is not just a construction project,” Arystanov said. “It represents a new way of living — sustainable, smart, and connected. We see Korea as a natural partner because of its advanced technology and our long-standing trust.” Kazakhstan sees Korea as an ideal partner for its digital transition, backed by a robust oil-based economy growing by five to six percent annually and a highly digital-literate workforce that makes up 60 percent of its 18 million people. South Korea is already Kazakhstan’s third-largest investor after Russia and the Netherlands, with some 876 Korean-capital companies operating in the country, according to the ambassador. Tourism and people-to-people exchanges are also on the rise, with weekly flight connections between Seoul, Busan, Astana, Almaty, and Shymkent now averaging 20 services — a 20 percent increase from last year. The Seoul forum aims to elevate bilateral economic ties to a new level. The delegation includes senior officials from Kazakhstan’s ministries of economy, land, transport, infrastructure, investment, and digital development, who plan to detail investment incentives, tax breaks, and supportive measures such as 30-day visa-free entry and English-language accessibility through the Astana International Financial Center’s common law framework. Historic ties also reinforce the partnership. Kazakhstan is home to about 120,000 ethnic Koreans, a community that continues to serve as a bridge between the two nations. On September 23, the Kazakhstan-Korea Friendship Association was launched in Seoul under Kwak Young Kil, chairman of Aju Media Corporation, as a platform for cultural, tourism, sports, and business exchanges. Academic and research cooperation is also expanding, with Kazakhstan’s education minister recently visiting Korean universities and encouraging Korean firms to consider establishing R&D centers in Kazakhstan. 2025-10-14 08:00:00 -
IAA Korea, Clebus team up to digitize art through NFTs SEOUL, October 13 (AJP) - IAA Korea, the Korean branch of the International Association of Art (IAA), has signed a partnership with NFT technology company Clebus to push the art industry into the digital era and expand the global reach of K-art. The agreement marks a rare collaboration between a traditional fine arts institution and a blockchain firm, signaling a growing recognition of NFT technology in the global art world. The signing ceremony took place on September 24 in Seoul’s Jongno district. IAA Korea and Clebus agreed to work together to develop new business models for both the domestic and international art markets. Their plan covers not only painting and sculpture but also illustration, animation, and accessory design, transforming these into NFT-based content for exhibition, sale, and rental. IAA Korea President Lee Kwang-soo, who also serves as a board member of the IAA headquarters in Paris, said he expects the partnership to serve as "an important turning point for the global art market." The two sides plan to focus on creating an NFT-linked art trading platform while developing joint revenue models such as pre- and post-purchase arrangements and consignment sales. IAA Korea has invited Clebus to the IAA World General Assembly set for October 29 and is preparing to extend the partnership to the IAA’s Paris headquarters to strengthen global cooperation. One of the most eye-catching outcomes of the agreement is that Clebus’s art characters have been designated as official mascots of the IAA. It is an unusual move for a K-character to represent an international art organization, and both sides see it as a key step toward promoting K-art on the global stage. Clebus said it hopes the two characters will "grow into globally beloved K-characters, following the success of 'Kpop Demon Hunters.'" Founded in 2019, Clebus is a technology firm that has expanded into blockchain services. Since 2022, the company has provided NFT certification and membership platforms to luxury brands such as Hansung Motor, an official Mercedes-Benz dealer in South Korea, demonstrating its technical expertise and market experience. The collaboration between IAA Korea’s international network and Clebus’s NFT technology is expected to accelerate the digital transformation of South Korea’s art scene and open new opportunities for K-art in global markets. 2025-10-13 17:44:01 -
Swedish crown princess to visit Korea this week to deepen bilateral ties SEOUL, October 13 (AJP) - Sweden’s Crown Princess Victoria will make an official visit to South Korea this week, accompanied by a high-level business delegation, in a trip aimed at bolstering economic and diplomatic cooperation between the two nations, Seoul’s Foreign Ministry said Monday. The visit, scheduled for Oct. 15 to 17, will include meetings with President Lee Jae Myung and Prime Minister Kim Min-seok to discuss ways to strengthen collaboration in trade, investment, science, and cultural exchange. It will be the first official visit to South Korea by a Swedish heir to the throne in a decade. During her stay, the crown princess is also expected to visit Panmunjeom, the border village within the Demilitarized Zone that has long symbolized the division of the Korean Peninsula. She will attend the Korea–Sweden partnership meeting, which brings together government and industry leaders from both countries, and pay respects at the Swedish War Memorial in Busan, honoring Sweden’s contributions to the United Nations forces during the Korean War. “The visit will serve as a foundation for future-oriented cooperation between the two countries,” the Foreign Ministry said in a statement. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-13 17:35:37 -
Sookmyung startup Labincube brings Nobel-winning material into everyday use SEOUL, October 13 (AJP) - A startup from Sookmyung Women's University has brought a Nobel Prize-winning scientific material into people’s daily lives. Labincube, founded by Professor Choi Kyung-min from the Department of Chemical and Biological Engineering, became the first company to use Metal-Organic Framework (MOF) materials in consumer products such as air purifiers and cosmetic fillers. Professor Choi previously worked as a postdoctoral researcher in the laboratory of UC Berkeley Professor Omar Yaghi, one of this year's Nobel Prize winners in chemistry. Building on that connection, Labincube, a subsidiary of Sookmyung’s technology holdings company, signed a technical advisory agreement with Professor Yaghi and succeeded in commercializing MOF-based products in 2024 for the first time anywhere in the world. MOFs are porous materials that can selectively trap or separate specific molecules through tiny openings. They have mainly been used in fields like petrochemicals and semiconductors, but Labincube found a way to adapt them for consumer use, expanding their reach into home appliances, beauty products, and biotechnology. In the home appliance sector, the company worked with LG Electronics to apply MOF materials to air purifiers that remove harmful gases and odors more effectively. In the beauty field, it incorporates MOFs into fillers and skin boosters to improve product stability and performance. Labincube is also developing environmental products that remove moisture and carbon dioxide from the air, as well as bio-materials that could replace antibiotics and antihistamines. The company’s progress led to its selection for the Ministry of SMEs and Startups' "Baby Unicorn" program this year, which supports promising early-stage startups. Shin Ji-young, head of Sookmyung's Office of Industry-Academic Cooperation, said the achievement shows how the university's startup system can link world-class scientific research with technologies that improve daily life. She noted that as Sookmyung approaches its 120th anniversary in 2026, it is continuing to evolve as a research-driven university that connects basic science with practical innovation. Professor Choi said that Nobel-winning science often feels distant from everyday experience, but MOF technology is different. It is already being used in air purifiers and bio-materials, he said, adding that it is meaningful that a South Korean university startup was the first in the world to make this possible. 2025-10-13 17:25:29 -
Samsung Electronics Q3 profit set to double from last qtr on chip rebound SEOUL, October 13 (AJP) - Samsung Electronics is expected to report third-quarter operating profit of 10.14 trillion won ($7.6 billion), more than doubling from the previous quarter and marking its strongest July–September performance, fueled by a sharp recovery in memory chip prices and progress in landing contracts for AI chips. The South Korean tech giant, due to release preliminary earnings before market open Tuesday, is projected to have logged a 10.4 percent on-year gain in operating profit and more than doubled from 4.68 trillion won in the second quarter, according to market consensus compiled by FnGuide. The estimate has been revised upward by over 20 percent as DRAM prices recovered sharply. The main driver of the turnaround is the Device Solutions division, which encompasses the memory and foundry businesses. Analysts attribute the rebound to a steep rise in DRAM contract prices, higher shipments of HBM chips for AI servers, and improved utilization at fabrication plants. According to TrendForce, prices of mainstream DRAM chips used in servers, smartphones, and PCs surged 172 percent year-on-year in the third quarter. Samsung has been working to narrow the high-bandwidth memory (HBM) gap with SK hynix, which dominates supply to AI chip leader Nvidia. While Samsung has yet to finalize a deal to provide HBM products to Nvidia, its broader memory and foundry momentum has underpinned the earnings recovery. In the previous quarter, SK hynix surpassed its longtime rival with an operating profit of 9.2 trillion won on revenue of 22.2 trillion won, dethroning Samsung for the first time in memory profitability. Despite lagging in HBM, analysts expect strong quarters ahead for Samsung and other chipmakers as global AI and data infrastructure demand remains robust. Morgan Stanley last week raised its price target for Samsung by 14 percent to 111,000 won, citing “improvement in memory prices and AI server demand” as well as Samsung’s “competitiveness in AI-related semiconductors.” Still, some analysts warn that memory prices could face renewed pressure in the fourth quarter as supply expands. Samsung also faces external risks such as potential U.S. tariff hikes on semiconductors, which could push up device costs and dampen global demand. Samsung shares closed at 93,300 won on Monday, nearing the psychologically significant 100,000-won mark for the first time in months ahead of its earnings release. 2025-10-13 17:13:29 -
K-beauty buttresses Korean exports while defining global mainstream SEOUL, October 13 (AJP) - Beauty has joined chips and cars as another defining powerhouse for Korea, with K-beauty now shaping trends and commanding markets in two of the world's largest economies. Korea ranked as the world’s third-largest cosmetics exporter last year, trailing only France and the United States. In both the U.S. and Japanese markets, Korean beauty products have overtaken long-dominant French labels to become the top imported cosmetics. According to the Ministry of Food and Drug Safety, Korea's cosmetics exports hit a record $5.51 billion in the first half of this year, up 14.8 percent from a year earlier. Shipments have maintained a near-unbroken streak — $9.2 billion in 2021, $8 billion in 2022, $8.5 billion in 2023, and $10.2 billion in 2024 — weathering global slowdowns with only a brief dip during China’s market contraction in 2022. Even as Korea's total exports fell 7.5 percent in 2023 before rebounding 8.1 percent last year, cosmetics shipments grew 6.3 percent and 20.3 percent, respectively, according to the Korea International Trade Association (KITA). The rise of K-beauty has coincided with a strategic pivot away from China, where nationalist consumption trends and local favoritism squeezed out Korean products. The share of cosmetics exports to China plunged from 34.7 percent in 2023 to 19.6 percent ($1.08 billion) in the first half of this year — the first time it dropped into the 10-percent range. By contrast, exports to the U.S. and Japan climbed 17.7 percent and 15.7 percent, respectively. In the U.S. market, Korean cosmetics exports surged to $1.71 billion last year, surpassing France's $1.26 billion, followed by Canada, Italy, China, Mexico, the United Kingdom, and Japan. Building on this momentum, Korean beauty retailers are expanding aggressively overseas. CJ Olive Young, the country's largest health and beauty chain, established a local subsidiary in Los Angeles earlier this year after opening its Japanese branch in May 2024. Its first U.S. store is slated to open by year-end, signaling a deeper K-beauty push into the global mainstream. Olive Young has become a major growth engine for CJ Group, maintaining double-digit expansion despite remaining unlisted. In the second quarter, the company reported 1.46 trillion won ($1.07 billion) in sales, up 21 percent from a year earlier, with 144 billion won in net profit — marking its eighth consecutive quarter surpassing the 1 trillion won revenue mark. For the first half of 2025, sales rose 17.9 percent year-on-year to 2.7 trillion won, and net profit gained 17.1 percent to 270 billion won. Analysts forecast Olive Young's annual revenue could exceed 5 trillion won this year — a record for the retailer. The government is also throwing its weight behind the beauty boom. The Ministry of SMEs and Startups plans to designate 500 innovative products across cosmetics, fashion, lifestyle, and food as "K-Export Strategy Items" by 2030. About 80 items will be selected this year, with similar additions annually over the next five years. "The cosmetics industry now has a high proportion of exports driven by small and medium-sized enterprises," said Kim Do-wan, an official in charge of global growth policy. "To ensure continued expansion, we need to nurture these smaller brands. We're identifying promising companies with export potential and providing targeted support so they can strengthen their global competitiveness." 2025-10-13 16:54:01 -
Pyongyang's new ICBM blends technical ambition with political theater SEOUL, October 13 (AJP) - North Korea unveiled a new intercontinental ballistic missile (ICBM), the Hwasong-20, during a military parade in Pyongyang last Friday, underscoring its continued drive to advance long-range missile capabilities—possibly with Russian assistance—and to strengthen its leverage ahead of any potential resumption of dialogue with the United States. The Oct. 10 parade, marking the 80th anniversary of the founding of the Workers' Party of Korea, showcased North Korea's latest strategic weapons, including new hypersonic and cruise missiles. Senior officials from China, Russia, and Vietnam attended as VIPs, highlighting Pyongyang's bid to demonstrate solidarity within the emerging "neo-Cold War" axis. The Hwasong-20 is believed to be an upgraded solid-fuel ICBM featuring a high-thrust engine and a carbon-fiber composite motor casing. North Korea claims the new engine can generate up to 1,971 kilonewtons of thrust—roughly enough to lift 200 tons. Unlike traditional solid-fuel engines that rely on heavy metal casings, the use of a carbon-fiber composite shell reduces weight, allows for larger propellant capacity, and boosts thrust efficiency—critical advantages for long-range missile performance. Visually, the missile's diameter appears slightly larger than its predecessor, the Hwasong-19, and its rounder nose suggests room for additional re-entry vehicles—detachable warheads capable of targeting multiple locations, an essential feature of modern ICBMs. The 11-axle transporter erector launcher (TEL) appears unchanged, and analysts estimate the Hwasong-20 could have a theoretical range of up to 15,000 kilometers, enough to strike the U.S. mainland. "Overall, the Hwasong-20 looks almost identical to the Hwasong-19, using the same TEL," said Shin Seung-ki, research fellow at the Korea Institute for Defense Analyses (KIDA). "The missile's nose appears slightly rounder, which may allow it to carry more re-entry vehicles—perhaps six to eight compared with four or five on the Hwasong-19." Shin added that Russian technical support or materials may have contributed to the upgrade, citing the deepening military cooperation between Pyongyang and Moscow. Despite the apparent sophistication, experts remain cautious about the missile's actual capabilities. The Hwasong-20 has so far undergone only ground testing and has not yet been flight-tested, leaving its real-world performance unproven. South Korea's Unification Ministry noted that while Kim Jong-un avoided direct mention of the U.S. or South Korea in his speech, the display itself carried a clear strategic signal. "From North Korea's perspective, unveiling this type of strategic weapon itself carries a message to South Korea and the U.S.," ministry spokesperson Koo Byung-sam said Monday in Seoul. Analysts see the parade as Pyongyang's latest effort to position itself as a de facto nuclear power on par with Russia and China. "North Korea's message is clear," said Yang Uk, research fellow at the Asan Institute for Policy Studies. "Pyongyang is signaling that it can strike the U.S., that it sees itself standing shoulder to shoulder with Russia and China, and that no one should expect it to give up its nuclear weapons." 2025-10-13 16:46:48