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Large-scale expo in Spain to promote Korean culture and products overseas SEOUL, September 17 (AJP) - Amid the resurgence of the Korean Wave, fueled by the global popularity of K-pop, a large-scale expo will be held in Spain next week to promote Korean culture and products overseas. The expo comes in celebration of the 75th anniversary of diplomatic relations between the two countries will run for three days in Madrid from Sept. 28 to 30, featuring participation from various industries including music, gaming, food, cosmetics, and tourism. It is the second of its kind, after the inaugural expo held in Toronto in August last year. Hosted by the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency, in cooperation with the Korea Tourism Organization and the Korea Agro-Fisheries & Food Trade Corporation, the expo will also provide business consultations for those interested in making inroads into the South Korean market. Various programs including exhibitions, performances, and interactive events are expected to amuse participants and other visitors during the expo. On the opening day, singer-songwriter Hong Isaac, known for several of his hit drama soundtracks, will perform on stage along with other singers including Ben and Cho Yu-ree. SIU, the creator of the country's largest portal Naver's hit webtoon series "Tower of God," will hold an autograph signing session for European fans. Over 60 South Korean companies including 20 cosmetics retailers will participate and seek new business opportunities in Europe. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-17 10:48:33 -
SK On names European sales head SK On, a major player in the global electric vehicle (EV) battery market, has created a new European sales division and appointed Thomas Eller as its head. The appointment of Eller, who has nearly two decades of experience at Continental and a history of working with top-tier automakers like BMW and Mercedes-Benz, signals SK On's intent to strengthen its presence in the critical European market. The company's strategy involves creating a "customized cooperation system" to provide more efficient, localized support to its European clients. This new approach aims to streamline communication and enhance responsiveness. SK On currently operates three battery production plants in Hungary, a key manufacturing hub in Europe. The new division's primary goal is to increase orders to improve the utilization and profitability of these facilities. This move mirrors SK On's earlier strategy in North America, where it appointed Rob Schnell as its regional head in February to strengthen sales capabilities and manage relationships with major clients such as Ford, GM, and Stellantis. The appointment of Eller is part of a broader, company-wide initiative to fortify its global sales network and respond more effectively to local market demands. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-17 10:20:18 -
POSCO chairman leads South Korea-Australia economic cooperation POSCO Group Chairman Jang In-hwa, acting as the South Korean chair for the South Korea-Australia Economic Cooperation Committee, is pushing for expanded cooperation beyond traditional economic ties. This push was the central theme of the 46th joint meeting of the committee, held at FKI Tower in Seoul. The gathering, attended by approximately 200 officials from both nations, including Australia-Korea Business Council chair Martin Ferguson, sought to strengthen ties in industry, innovation, and sustainability. For the first time, AI-based industrial safety and disaster response were highlighted as special topics, reflecting a new direction for the bilateral relationship. In the minerals session, participants highlighted successful joint ventures like POSCO Pilbara Lithium Solution, which processes Australian lithium ore for secondary battery materials. The meeting also showcased the achievements of the "Australia Core Resources Research Center," POSCO's first overseas resource research institute, underscoring the company's commitment to securing vital mineral supply chains. In a move to enhance disaster preparedness, POSCO announced a new social contribution project in collaboration with the National Disaster Relief Association. The initiative will draw on Australia's advanced disaster response systems, particularly those in New South Wales, to help local Korean communities respond more effectively to natural disasters. This initiative is a practical example of the expanded cooperation Chairman Jang advocated for. Chairman Jang underscored the importance of this broader collaboration, stating, "I hope both countries will expand cooperation beyond economic and industrial investments to include regional coexistence, industrial safety, and disaster response, paving the way for a sustainable future." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-17 10:14:34 -
South Korea prepares response to Mexico's tariff hike plan The South Korean government is taking steps to address Mexico's planned tariff hikes, a move that threatens to disrupt supply chains and raise costs for major South Korean companies. The tariffs, which are part of Mexico's new legislative initiative, are expected to target 1,463 product classifications, a significant increase from previous measures. Affected items include auto parts, steel, home appliances, and textiles — all sectors where South Korean firms have a major presence. South Korean firms, including Kia Motors, have heavily invested in Mexico, using it as an export hub to the United States under the USMCA (United States-Mexico-Canada Agreement) trade pact. These companies often import raw materials and components from South Korea for assembly in Mexico, making them vulnerable to new import duties. A Ministry of Trade, Industry and Energy official said, "We will work closely with industry and local embassies to minimize impacts on our companies through thorough monitoring." In the past, South Korean companies have used Mexico's tariff reduction programs, such as PROSEC (Program for Sectoral Promotion) and IMMEX (Manufacturing, Maquila, and Export Service Industry), to mitigate the effects of tariffs. However, the details of Mexico's new tariff plans are still unclear, raising concerns about whether these existing programs will be sufficient to absorb the economic impact. Mexican President Claudia Sheinbaum has stated that the tariffs are intended to protect domestic industries and are not aimed at any specific country. Despite this, South Korea is among the countries without a free trade agreement with Mexico that could be significantly affected. The new measures are currently under review by the Mexican Chamber of Deputies and, if approved, could take effect as early as Jan. 1 next year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-17 10:06:20 -
FM heads to Beijing to discuss Xi's possible visit to South Korea next month SEOUL, September 17 (AJP) - Foreign Minister Cho Hyun headed to Beijing on Wednesday, making his first trip to China since assuming his post. Cho is set to hold talks with his Chinese counterpart Wang Yi later in the day. Their discussions are expected to focus on Chinese President Xi Jinping's possible visit to South Korea late next month on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in the historic city of Gyeongju. Although Beijing has yet to confirm, Xi is highly likely to attend the multilateral gathering slated for Oct. 31 to Nov. 1. In an editorial published the previous day, China's state-run English daily Global Times said Cho's visit "reflects Seoul's proactive will to improve and develop relations with Beijing," and urged South Korea to work together to "confront" recent U.S. tariff pressures under U.S. President Donald Trump-led "unilateralism and protectionism." During Cho's two-day visit, North Korea-related issues are also expected to be on the agenda for the first bilateral foreign ministers' meeting. Amid concerns over China's stance on its traditional ally following North Korean leader Kim Jong-un's meeting with Xi and Russian President Vladimir Putin in Beijing earlier this month during China's "Victory Day" military parade marking the 80th anniversary of the end of World War II, Cho is likely to call for the denuclearization of the Korean Peninsula, stressing the need for China to play a "constructive role" in the process. 2025-09-17 10:00:32 -
Hyundai Motor joins international hydrogen energy conference in Japan Hyundai Motor Group said Wednesday that it participated in the 7th Hydrogen Ministerial Meeting and the 1st Sustainable Fuel Ministerial Meeting held at the Hilton Hotel in Osaka, Japan, on Sept. 15. The Hydrogen Ministerial Meeting, initiated in 2018, gathers officials from major countries and international organizations to discuss hydrogen energy promotion and global cooperation. This year, it was held alongside the 1st Sustainable Fuel Ministerial Meeting, co-hosted by Japan and Brazil, in connection with the 2025 Osaka-Kansai Expo. Under the theme of "Creating Demand," the meetings included ministers and vice ministers from 25 member countries, including South Korea, Japan, the EU, the UK, and Brazil, as well as representatives from international organizations like the Asian Development Bank, the International Renewable Energy Agency, and the International Energy Forum. Hyundai shared insights on raising awareness of global hydrogen initiatives, promoting low-carbon industry transitions through international cooperation, and building a sustainable hydrogen ecosystem. Ken Ramirez, Hyundai's VP of Energy & Hydrogen, stated, "Hydrogen is at a pivotal point as a key pillar of global energy transition. Continuous policy support and effective implementation are essential to realize its potential." He added, "To make hydrogen a competitive solution, we must link financial support with industry development and build infrastructure, investment, and policy frameworks together." Ramirez also highlighted hydrogen cooperation between South Korea and Japan, noting, "The Korea-Japan Hydrogen Dialogue in March reaffirmed our commitment to hydrogen collaboration, promising joint efforts to standardize and institutionalize the hydrogen ecosystem, accelerating its development." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-17 09:57:28 -
SK Innovation targets global market with battery recycling tech SK Innovation is set to enter the global battery recycling market with its proprietary Battery Metal Recycling (BMR) technology. The company announced on Wednesday that it signed a memorandum of understanding (MOU) with U.S. engineering firm KBR at the Fastmarkets Conference in Portugal. Under the agreement, KBR will combine its crystallization technology with SK Innovation's BMR technology for global sales, generating royalty revenue for SK Innovation. KBR, with about 34,000 employees and operations in over 80 countries, provides advanced engineering solutions across various sectors, including energy and infrastructure. Since 2017, SK Innovation has developed its battery recycling technology by integrating its expertise from the refining and petrochemical sectors. In 2021, the company established a facility capable of recovering lithium hydroxide from batteries equivalent to 800 electric vehicles annually, securing over 100 patents globally. Phil Seok Kim, head of SK Innovation's Environmental Science and Technology Institute, stated, "Our innovative lithium recovery technology meets EU battery regulations and has proven battery performance." Gautam Krishnaiya, KBR's CTO, praised the economic advantages of SK Innovation's technology over traditional methods, highlighting the synergy with KBR's crystallization technology. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-17 09:52:00 -
Lee vows practical diplomacy with US, China, Japan, and Russia SEOUL, September 16 (AJP) - President Lee Jae Myung said Tuesday that South Korea will pursue "practical diplomacy centered on national interest" to improve relations with the United States, China, Japan, and Russia. Speaking at a Cabinet meeting earlier in the day, Lee outlined the first of five foreign policy tasks under his administration, emphasizing that South Korea must navigate its diplomacy based on pragmatic choices rather than ideology. "We will move beyond rigid thinking and focus on advancing cooperation with the four major powers to protect and expand our national interest," he said, according to the Ministry of Foreign Affairs. The president highlighted that the strategic environment surrounding the Korean Peninsula is changing rapidly, with heightened tensions in Northeast Asia and shifting global supply chains. He said South Korea must strengthen relations with each of the four powers in ways that ensure balance and resilience. Lee noted that ties with the U.S remain the cornerstone of South Korea's security, particularly in deterring threats from North Korea. He also pointed to the depth of economic interdependence with China, which accounts for roughly one quarter of South Korea's exports. Relations with Japan have recently gained momentum. In late August, Lee held his first full bilateral summit with Japanese Prime Minister Shigeru Ishiba in Tokyo, where the two leaders reaffirmed cooperation on North Korea's nuclear and missile programs and agreed to expand collaboration in areas such as hydrogen, ammonia, and artificial intelligence. Relations with Russia remain complicated, particularly since South Korea joined international sanctions over the conflict in Ukraine. Still, the government views Moscow as an important factor in regional stability. At a reception in Seoul last week marking the 80th anniversary of the end of World War II, Russian Ambassador Georgy Zinoviev said, "Despite many difficulties, there are still possibilities for Russia and South Korea to restore practical and mutually beneficial cooperation." His remarks were widely seen as a signal that Moscow is open to improving ties under the new administration. Foreign Minister Cho Tae-yul briefed the Cabinet on the ministry's plan to advance this task, which includes holding regular high-level talks with Washington, Beijing, Tokyo, and Moscow and expanding platforms for dialogue on both security and economic issues. The ministry said the broader aim is to strengthen South Korea's voice in shaping regional order and to ensure that diplomacy serves the country's long-term prosperity and security. 2025-09-16 18:14:33 -
Orderly Gen Z-led uprising in Nepal strikes a chord with Young Koreans SEOUL, September 16 (AJP) - “They are better than us,” said one Korean viewer of a viral video showing Nepal’s royal palace on fire, recalling with bitterness former South Korean President’s stunt of declaring martial law last November. Another Korean remarked on YouTube, “It’s impressive how the Nepalese military maintained neutrality, focused on protection and mediation, and stayed true to their beliefs until the end.” YouTube clips documenting the dramatic developments in Nepal have drawn more than 1 million views, while similar content on Instagram has topped 590,000. Korean viewers expressed awe at the neutrality of Nepal’s armed forces and the orderly nature of the protests, where young civilians were even seen cleaning up streets before leaving riot sites. The demonstrations culminated in the resignation of Prime Minister KP Sharma Oli on Sept. 9. Soon after, thousands of young people turned to the online chat platform Discord to collect opinions and demand the dissolution of parliament and the creation of an interim government. Within days, both the president and the military accepted the proposal, and Nepal’s first female chief justice, Sushila Karki, was named interim prime minister through a Discord vote driven largely by Gen Z participants. One viewer likened the revolt to the watershed French Revolution. Much like the upheavals of the 19th century, young Nepalese became the driving force of mass anti-government protests, this time triggered by the government’s closure of social media platforms. In classic authoritarian fashion, officials justified the ban by citing noncompliance with new regulations and the spread of misinformation. But frustrations among Nepalese youth had been brewing long before the SNS sanctions, fueled by deepening social divides and resentment toward the so-called “nepo kids,” a small group of wealthy families flaunting their luxurious lifestyles online. According to the World Bank, more than 20 percent of Nepal’s 30 million people live in poverty. Youth unemployment reached 22 percent in 2022–23, with more than 2,000 young Nepalis crossing borders daily to seek jobs in the Middle East or neighboring countries. The anger of frustrated youth has also spilled beyond Nepal’s borders. In Indonesia, university students recently staged mass demonstrations after revelations that parliamentarians were collecting $3,000 monthly housing allowances — ten times Jakarta’s minimum wage. 2025-09-16 17:41:48 -
K-pop shares going "Up, Up, Up" in their "Golden" moment SEOUL, September 16 (AJP) - K-pop stocks are on a roll, humming along to the chart-topping "up, up, up" tune of "Golden" from Netflix's animated blockbuster "KPop Demon Hunters." The four household K-pop agencies have been riding on the Sony film's surprise success and its soundtrack. Shares of YG Entertainment have more than tripled from 32,300 won ($23.38) a year ago to 97,600 won this month. Those of SM Entertainment soared from 58,100 won to 141,600 won (+144 percent), HYBE advanced from 164,000 won to 286,500 won (+75 percent), and JYP Entertainment increased from 45,200 won to 76,100 won (+68 percent). The unexpected blowout of "KPop Demon Hunters" acted as a game changer. Against June 16, just before the film was released on June 20, shares of YG gained 12 percent from 87,200 won to 97,600 won (+11.9 percent). The label is associated with Teddy, the longtime YG producer and CEO of the Black Label, who joined the creation of "KPop Demon Hunters" OST. Shares of SM added a modest 4.5 percent while those of JYP remained unchanged. Shares of HYBE lost 4.5 percent during the same period. "'KPop Demon Hunters' is more than a box-office hit," said Meritz Securities media analyst Kim Min-young. "The film and OST are acting as an amplifier in the spread of Korean content." Underscoring the fad over K-pop, assets under management for the ACE Kpop Focus ETF topped 200 billion won ($150 million), nearly seven times greater than 30.2 billion at the end of December, according to the fund’s seller, Korea Investment Management. Launched in January 2024, the fund allocates 90 percent of its weighting to the four K-pop agencies. Its performance has outshone broader bullish markets. ACE Kpop Focus ETF has returned 57.4 percent so far this year, outperforming the KOSPI (34.4 percent) and Nasdaq 100 (13.5 percent). "The global K-pop fandom continues to expand steadily, stretching beyond Asia to the Americas, Europe, and emerging markets," noted Nam Yong-soo, head of ETF management at Korea Investment Management. He expected further room to grow, pointing to major events such as BLACKPINK's upcoming full-group album and world tour this year and BTS's scheduled return to group activities next year. Analysts agree K-pop stocks will bask in the "golden moment" that will lift them "up, up, up." 2025-09-16 17:32:06