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BlackRock's Samsung stake surpasses Lee family as KOSPI soars SEOUL, September 25 (AJP) - Samsung Electronics Co. remains a top pick for BlackRock Inc., which has reaped outsized gains from its bullish bet on the KOSPI — this year's best-performing major equity index globally. The world's largest asset manager now holds a larger stake in Korea's chip titan than the controlling Lee family. BlackRock owns 5.07 percent of Samsung Electronics, a position valued at 25.4 trillion won ($18.1 billion) based on Tuesday's closing price of 85,400 won per share. By comparison, the combined holdings of Samsung Electronics Chairman Lee Jae-yong and other Samsung family members are worth 24.6 trillion won. In its latest disclosure to the Financial Supervisory Service, BlackRock reported ownership of more than 5 percent in 10 listed companies, including Korea's four major financial holding groups, representing 1.1 percent of total KOSPI market capitalization. Crossing the 5 percent threshold grants the firm voting rights in shareholder decisions. During the 2024 to 2025 proxy season, BlackRock Fund Advisors supported about 89 percent of management proposals but backed only 90 percent of director appointments, signaling more assertive shareholder engagement, particularly on board independence. The U.S. asset manager has also drawn attention in Korea by signing a memorandum of understanding with the Ministry of Science and ICT on artificial intelligence investment — a move that could lead to multibillion-dollar projects in the country. 2025-09-25 11:36:19 -
Busan Museum to showcase Shakespeare First Folio and Harry Potter first edition in special exhibition SEOUL, September 25 (AJP) - The Busan Museum, located in South Korea's second-largest city, will open a major international exchange exhibition, "Writers Revealed: From Shakespeare to 500 Years of Literature and Art," on September 30, bringing together rare treasures from the canon of English literature. The show will run until January 18, 2026. The exhibition features 140 works spanning five centuries, including portraits of 78 celebrated authors, handwritten manuscripts, letters, and first editions. Among the highlights is the Shakespeare First Folio, the playwright's first collected volume of plays, which will be showcased in South Korea for the first time. Only about 230 copies of the First Folio remain in existence worldwide. First published in 1623, it contains many of Shakespeare's greatest works, such as "Macbeth" and "Twelfth Night." Other rare items on display include Shakespeare's only lifetime portrait, a first edition of "Pride and Prejudice," a poetry collection published under pseudonyms by the Brontë sisters, Charles Dickens' handwritten manuscript of "Great Expectations," Arthur Conan Doyle's original manuscript of "The Adventure of the Veiled Lodger," letters by Oscar Wilde, and a Harry Potter first edition containing J.K. Rowling's notes. More recent works will also be featured, including the manuscript of the 2019 Booker Prize-winning novel "Girl, Woman, Other" by Bernardine Evaristo. The museum said the exhibition is designed to provide a multifaceted look at the lives and creative journeys of the writers behind some of the most enduring works in the world of literature. Busan Museum Director Jeong Eun-woo said the exhibition represents "a meaningful opportunity to encounter the great writers of world literature in one place." 2025-09-25 11:11:51 -
Park Chan-wook's latest film draws over 300,000 on opening day SEOUL, September 25 (AJP) - Director Park Chan-wook's latest film "No Other Choice" attracted over 331,000 moviegoers on its opening day, instantly climbing to the top spot at the box office. The Korean Film Council on Thursday said the thriller starring Lee Byung-hun and Son Ye-jin topped the box office upon its release the previous day, setting the highest opening record among his previous hits like "Decision to Leave" in 2022 and "The Handmaiden" in 2016. Park's 12th feature, an adaptation of American writer Donald E. Westlake's novel "The Ax," revolves around a man who believes he has achieved everything in life until he is suddenly laid off and must find a new job to support his family. It also served as the curtain-raiser for this year's Busan International Film Festival in the southern port city, which wraps up on Friday. Riding on the hype, the film is expected to continue to draw hordes of moviegoers, as it was released in time for this year's long Chuseok holiday, which begins next week. 2025-09-25 11:06:13 -
Hanmi Global expands in Middle East with Kuwait, Saudi contracts SEOUL, September 25 (AJP) - Hanmi Global announced on Thursday that it had secured a series of construction management contracts in the Middle East. The company won three construction supervision contracts from Kuwait’s Public Authority for Housing Welfare, valued at about 31 billion won, or roughly $22 million. In Saudi Arabia, it secured a separate deal worth 16 billion won to provide project management services for part of the kingdom’s vast Green Riyadh initiative. Together, the contracts amount to about 47 billion won, or $34 million, equal to nearly one-fifth of the company’s overseas revenue last year. In Kuwait, Hanmi Global will oversee projects in Abdullah City, a sprawling development southwest of Kuwait City that includes 1,600 housing units and related infrastructure such as roads and lighting. The city has become a showcase for South Korea’s smart city technology, the product of years of collaboration between the two governments. Since 2017, Korea Land and Housing Corporation has been in charge of the city’s master plan and design, while Hanmi Global joined the effort last year as a program management partner. The new contracts further cement Hanmi Global’s foothold in Kuwait, where it has steadily built its presence by handling multiple aspects of the Abdullah City project. The deal also coincides with the 50th anniversary of construction cooperation between South Korea and Kuwait, a relationship often described by officials as a model of public-private partnership. In Saudi Arabia, Hanmi Global will manage work in Zone 7 of the Green Riyadh program, one of the world’s largest urban greening projects. Launched in 2019 by King Salman and Crown Prince Mohammed bin Salman, the initiative is a centerpiece of the kingdom’s Vision 2030 development plan and carries a total budget of about $10 billion. Zone 7 alone covers 22 square kilometers. “The Middle East, including Saudi Arabia, Kuwait and the United Arab Emirates, presents abundant opportunities for global construction firms,” the company said in a statement. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-25 10:54:08 -
Lee meets US top tariff negotiator, pushes for progress in trade talks SEOUL, September 25 (AJP) - President Lee Jae Myung met with U.S. Treasury Secretary Scott Bessent in New York and expressed hopes for progress in tariff negotiations which should be "commercially rational." Their meeting on the sidelines of the UN General Assembly came about a month after the two met during Lee's visit to Washington for his first bilateral talks with U.S. President Donald Trump. Lee emphasized that trade talks should be "in line with the interests of both countries," as close cooperation in security and economic areas is crucial for maintaining the bilateral alliance between Seoul and Washington, his chief secretary for policy Kim Yong-beom told reporters during a press briefing, quoting him as saying. In response, Bessent said that the two sides may face temporary or short-term difficulties in negotiations, but they will "fully overcome" them, as the bilateral alliance is strong. Praising South Korea as an "important trade partner" once again, he highlighted the importance of bilateral cooperation in sectors like shipbuilding. Lee also explained that South Korea's foreign exchange reserves, market structure, and other economic infrastructures, which significantly differ from Japan's, should be taken into account in the ongoing trade talks which include Seoul's massive US$350 billion investment pledge to Washington. Earlier, in an interview with Reuters, Lee warned that without currency swap deals with the U.S., Trump's demand for a cash investment could lead to a repeat of the 1997 Asian financial crisis. 2025-09-25 10:31:31 -
Autonomous navigation advances as Samsung Heavy completes trans-Pacific test SEOUL, September 25 (AJP) - Samsung Heavy Industries said on Thursday that it had successfully tested an artificial intelligence–based autonomous navigation system on a trans-Pacific voyage, a milestone in the shipping industry’s push toward automation and efficiency. The system, known as Samsung Autonomous Ship (SAS), was installed on a 15,000-TEU container vessel operated by Evergreen Marine of Taiwan. The ship departed Oakland, Calif., on Aug. 25 and arrived in Kaohsiung, Taiwan, on Sept. 6, after traveling thousands of miles across the Pacific Ocean. Over the course of the voyage, the SAS platform analyzed weather patterns and sea conditions every three hours, issuing 104 navigational guidance recommendations and taking automatic control of the vessel 224 times, the company said. The system optimized speed and routing to conserve fuel while ensuring the ship arrived on schedule. Shipping accounts for about 90 percent of global trade, but the industry has been slow to adopt automation compared with aviation or automotive sectors. Companies and regulators have wrestled with safety concerns, liability questions and the sheer complexity of guiding massive vessels through unpredictable seas. Japan, Norway and China have all carried out trials of autonomous or remotely operated ships in recent years, with the technology often framed as a way to reduce fuel consumption, cut carbon emissions and relieve pressure on crews. Samsung Heavy Industries, one of the world’s largest shipbuilders, has been developing autonomous navigation systems for more than a decade. Its latest test reflects a shift from collision-avoidance support toward what the company calls “economic navigation” — maintaining steady speeds, optimizing fuel efficiency and improving punctuality. “SAS has evolved from a collision-avoidance support system to one that maintains economic speed and punctuality, contributing as an eco-friendly solution to the global shipping industry,” said Lee Dong-yeon, head of Samsung’s Shipbuilding and Marine Research Institute. Lee said it would continue working with Evergreen to refine the technology, with a focus on route optimization and further fuel savings. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-25 10:04:52 -
OPINION: Bogota's first metro train is wake-up call for South Korea In September 2025, Bogota welcomed its first-ever metro train, a sight that many Colombians thought they might never live to see. After seven decades of delays, false starts, and political infighting, the arrival of a sleek Chinese-built train was celebrated across the Colombian capital as a long-awaited triumph. But for South Korea, watching from afar, it should serve as something else: a moment of reckoning. As someone who worked closely on infrastructure cooperation between South Korea and Colombia from 2022 to 2024, I saw both the potential and the frustration. Colombia, a country of 50 million people and one of Latin America’s most important economies, has long been desperate to modernize its transportation systems. Its commuters endure some of the longest daily travel times in the region. The Bogota metro project — Line 1, a $5 billion contract awarded to a Chinese consortium — is only the beginning. A second line is already on the table, and more will follow. Yet despite years of bilateral goodwill — Colombia was one of the few Latin American nations to send troops during the Korean War — South Korea has been conspicuously absent. Not a single Korean company bid for Bogota's Line 2, even though Colombian partners showed real interest in their participation. Meanwhile, Chinese firms secured Line 1 and are well positioned for the future, deepening Beijing’s footprint in Latin America. Why did South Korea miss this chance? The answer lies not in cost competitiveness or technical capacity. Korea’s construction and engineering companies are world-class, and Colombian officials welcomed their expertise. The problem was structural: South Korea has not learned to combine economic logic with diplomatic strategy. Large-scale infrastructure projects are not decided on spreadsheets alone. They hinge on early engagement, policy financing, and above all, visible political support. China understands this. Its success is not simply a matter of offering cheap loans — those account for only a fraction of its advantage. What matters more is the full package: state-backed finance, government-to-government frameworks, and a willingness to stand behind its companies in tough negotiations. South Korea, by contrast, has treated projects like Bogota's metro as primarily a private-sector issue. But companies hesitate when they don’t feel their government’s weight behind them. Institutional gaps and corporate caution combine to create paralysis. By the time opportunities arise, the window has closed. The arrival of Bogota's first metro train is more than a civic milestone. It is also a geopolitical signal. Latin America’s infrastructure needs are vast — estimated by the World Bank and Inter-American Development Bank at 3 to 5 percent of GDP annually — yet the region invests less than half that. Whoever steps in to fill the gap will not only shape Latin America’s cities but also its political alignments for decades to come. For South Korea, this is the lesson: rhetoric about friendship and cooperation is not enough. What counts is showing up at the right moment with the right tools — financing, technology, training, and political will. Colombians celebrated the train’s arrival not because it was Chinese, but because it finally happened. If South Korea wants to be part of Latin America’s future, it must move beyond missed opportunities and offer timely, tangible support. History rewards those who respond when it matters most. Bogota's metro is proof of that — and a reminder to South Korea that time waits for no one. About the author -Former Deputy Ambassador to Colombia -Global Ambassador, Korea Railroad Corporation -Senior Advisor, Dentons Colombia * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-25 09:44:37 -
OPINION: The age of restless youth Kim Sang-chul, director of Global Business Research Center The world today feels as if it is locked in a cycle of turmoil. Wars drag on, economies falter, and political dysfunction seems the rule rather than the exception. For many, especially young people, frustration has boiled over into anger, and anger into action. In recent months, Southeast Asia has seen its youngest citizens — largely Gen Z — take to the streets in protest. From Jakarta to Manila, Dhaka to Dili, demonstrations against corruption, unemployment, and inequality have erupted. The grievances echo across borders: poverty, political impunity, and a profound sense of uncertainty about the future. Commentators have drawn parallels to the Arab Spring of 2010, when disillusioned youth in Tunisia set off a chain of uprisings across the Middle East. Yet, much like the Arab Spring, early flashes of political change have rarely translated into lasting economic improvement. This is not confined to Asia. Latin America, long known for its political volatility, has witnessed its own wave of youthful frustration. The so-called "Pink Tide" of leftist governments promised equity and progress, but corruption and cycles of political revenge — where presidents are jailed soon after leaving office — have fueled cynicism. For Gen Z, now entering adulthood in these societies, hope is in short supply. Even in developed democracies, the discontent is unmistakable. The United States remains polarized by the legacy of Trumpism, with Gen Z voters caught in the crosscurrents of economic anxiety and culture wars. In Western Europe, far-right populism is gaining traction, driven by concerns over jobs, migration, and national identity. Across continents, the common thread is a young generation increasingly unwilling to accept the status quo. Geopolitics further complicates the picture. Nations entangled in China’s Belt and Road Initiative now grapple with unsustainable debt and a loss of economic sovereignty. In places like Nepal and Kenya, debt distress has spilled into the streets, where protesters denounce political elites seen as too close to Beijing. Elsewhere, governments labeled as "pro-Russia" or "pro-China" have become lightning rods for popular anger. South Korea may appear insulated from these upheavals, but it is hardly immune. Its own MZ generation — Millennials and Gen Z combined — faces an unforgiving reality. A record 420,000 graduates are not economically active, while more than 600,000 young Koreans struggle to find stable work. Political dysfunction, coupled with widening inequality, has left many doubting whether the system works for them. The country’s politics is also steeped in retribution: former presidents jailed, rivals investigated, endless cycles of payback that deepen cynicism. The picture is stark: a global generation born into crises — financial crashes, climate change, pandemics — now stepping into adulthood with little faith in traditional politics. For governments, the question is not whether youth will erupt, but when. Gen Z has already shown it is restless, resourceful, and globally connected. In many places, it is leading the protests of today. The larger question is whether it can also shape the solutions of tomorrow. About the author -Master's in International Economics, Yonsei University -Ph.D. in Business Administration, Business School Netherlands -KOTRA, from 1983 to 2014, Beijing, Tokyo, LA Trade Center Director -Professor, East Seoul University, Department of Chinese Business * This column, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-25 09:14:53 -
Lee chairs UN debate on AI, calls for global cooperation SEOUL, September 25 (AJP) - President Lee Jae Myung presided over an open debate at the UN General Assembly in New York on Wednesday, becoming the first South Korean leader to do so. The debate, chaired by Lee as the country assumed this month's rotating role as a non-permanent member, focused on how to tackle opportunities and challenges brought about by the rapid development of artificial intelligence (AI) and other cutting-edge technologies. Participants including representatives from the 15 UN Security Council member states discussed how AI is rapidly transforming global security and called for collaborative responses. Emphasizing that now is the time to address "new threats and challenges posed by AI," Lee called for multilateral cooperation to ensure international peace and security. Lee also highlighted South Korea's efforts to promote the proper use of AI, while working with the international community to come up with collaborative measures. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-25 09:02:57 -
Medical schools lose appeal as semiconductor careers promise six-figure salaries SEOUL, September 24 (AJP) - University applicants are increasingly opting for majors that guarantee employment at major companies after graduation, rather than medical schools, which have long been the preferred choice among many top-scoring students. This shift is particularly evident at Hanyang University, Korea University, and Sogang University, which offer semiconductor-related courses and similar programs in partnership with businesses, often leading to guaranteed positions at SK Hynix and other tech companies. According to the country's one of the largest crammer Jongro Academy, these three universities have seen a surge in the number of applicants to begin their academic year next year, with Hanyang receiving 1,171 applications for 32 openings, followed by Sogang with 970 applications for 20 openings, and Korea University with 337 applications for 28 openings. The surge in applications has made admission at these schools more competitive than a year ago, although Korea University's rate slightly declined after it increased its intake of new students. The surge appears to reflect expectations of six-figure salaries at SK hynix, buoyed by the semiconductor giant's soaring profits thanks to its global dominance in the high-bandwidth memory (HBM) market. According to financial research firm FnGuide, the company's operating profit this year is projected at 38.23 trillion won ($28 billion), a 62 percent jump from last year. Moreover, the company, which has around 33,600 employees as of the first half of this year, recently agreed with its labor union to allocate 10 percent of operating profits to bonuses, meaning each employee is expected to receive an average bonus of roughly 100 million won ($74,000), making it a magnet for many job seekers. By contrast, other university programs linked to companies like Samsung Electronics, Hyundai Motor, and LG Display saw a decline in the number of applicants. The number of applicants to medical schools and related majors such as pharmaceuticals, oriental medicine, and veterinary medicine also shrank to 51,194 this year, a sharp drop from 72,351 last year. In South Korea, admission to medical schools has long been regarded as the pinnacle of academic accomplishment, making them highly competitive and traditionally attracting the country's highest-scoring students, as they provide both job security and high income in a society that often measures success with professional achievement. But those days are gone, maybe. With the rapid growth of artificial intelligence (AI), demand for advanced memory chips such as HBM has surged worldwide, with SK hynix at the forefront as a leading global supplier and a key partner of Nvidia, attracting many students and aspiring professionals eager to join one of the world's most promising industries. Experts predict this trend will continue. "Students and many young professionals these days prefer secure jobs, so business-linked university programs are becoming their biggest draw and are expected to remain popular," said Lim Sung-ho, the crammer's CEO. 2025-09-24 17:58:42