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Rookie boy band to hold three-day Tokyo Dome concert early next year SEOUL, September 16 (AJP) - Rookie boy band RIIZE will hold a concert in Japan early next year, their management agency SM Entertainment said on Tuesday. According to the agency, their three-day concert is scheduled for Feb. 21 to 23 in Tokyo. "They will meet fans at Tokyo Dome for three days, just two years and five months after their debut in September 2023, becoming the fastest K-pop boy band to perform on such a large-scale stage, a testament to their immense popularity both at home and abroad." Meanwhile, the six-member boy band, currently on their world tour making stops in some 22 cities across Asia and North America until early next year, will hold a concert in Bangkok, Thailand, this weekend. 2025-09-16 13:44:11 -
South Korean auto exports hit record high despite global tariffs South Korea's automobile industry is demonstrating remarkable resilience in the face of global economic pressures, reporting record-breaking exports and strong domestic performance for the second consecutive month. According to a report released by the Ministry of Trade, Industry and Energy, Tuesday, the sector's growth was driven by robust demand for eco-friendly vehicles and a successful pivot to new markets. Auto exports reached a record $5.5 billion in August, marking an 8.6 percent increase from the same period last year and representing the highest value ever recorded for the month. The cumulative export value from January to August also hit a new high of $47.7 billion, underscoring the sustained strength of the industry. While exports to North America saw a decline, the overall surge was led by strong demand from Europe, driven primarily by the sale of eco-friendly vehicles. The report highlights the critical role of the eco-friendly vehicle segment in the export boom. Overseas shipments of these vehicles grew by 26.6 percent to 69,000 units, extending an eight-month streak of growth. Electric vehicle (EV) exports were a key driver, soaring by 78.4 percent to 23,000 units. The EV3 model, in particular, was a top performer, leading sales across European markets. The domestic market mirrored the export success, with sales increasing by 8.3 percent year-on-year to 139,000 units. Eco-friendly cars captured a significant share of the domestic market, accounting for more than half of all sales with a 36.1 percent increase to 70,000 units. EV sales alone jumped by 55.7 percent to 24,000 units, while hybrid, plug-in hybrid, and hydrogen fuel cell vehicles also experienced considerable growth. The robust demand at home and abroad spurred an increase in production. Domestic auto production rose by 7.1 percent to 321,000 units, marking the highest August output since 2013. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-16 13:37:40 -
Seoul holds off US trade deal despite Japan's tariff edge SEOUL, September 16 (AJP) - South Korea is holding out in protracted trade negotiations with the United States and resisting pressure to sign a deal quickly even as Washington grants Japan a softer tariff regime that could erode Korean competitiveness. According to the Federal Register, the U.S. Commerce Department confirmed a preferential 15 percent tariff rate on Japanese automobiles and auto parts starting Tuesday, a significant discount from the 27.5 percent rate applied to most foreign-made cars under President Donald Trump’s protectionist trade agenda. The lower duty was part of a July agreement under which Tokyo pledged $550 billion in U.S. investments. Seoul reached a similar framework accord with Washington in July that included a $350 billion Korean investment pledge, but its signing has been delayed as negotiators wrangle over execution details. Trade Minister Yeo Han-koo, arriving in Washington this week for talks with U.S. Trade Representative Jamieson Greer, stressed the complexity of the negotiations, saying, “The devil is in the details. We are having intense discussions on the specifics,” while adding that Seoul would not be swayed by “every twist and turn” in the talks. At stake is how Korea will deliver its $350 billion commitment. Seoul prefers to minimize direct equity stakes, offering guarantees instead, while U.S. officials are pressing for a deal closer to Japan’s structure—one that allows Washington to select and oversee investment projects, with profits shared between the two countries. The debate has been further complicated by a high-profile immigration raid at the construction site of a Korean joint-venture battery plant in Georgia, which raised tensions over labor and regulatory issues. Kim Yong-beom, chief presidential secretary for policy, underscored the risks of a rushed deal, warning that implementing the $350 billion package “has implications for our entire economy. We cannot compromise our long-term stability just to narrow a short-term tariff gap in autos.” Industry Minister Kim Jung-kwan returned from Washington last week without a breakthrough after talks with Commerce Secretary Howard Lutnick, highlighting the deadlock. Whether Yeo’s visit will provide a turning point remains uncertain, as Korean automakers uneasily watch their Japanese rivals gain an immediate edge in the U.S. market. 2025-09-16 13:26:43 -
KOSPI rises to new all-time high for 5th straight day SEOUL, September 16 (AJP) - South Korea's benchmark KOSPI index surged at the open on Tuesday, hitting a new all-time high for the fifth consecutive trading day and extending a historic rally. As of 9:23 a.m., the KOSPI was trading at 3,428.88, up 21.57 points (0.63 percent) from its previous close. The index opened strong at 3,421.13, immediately surpassing the record of 3,407.31 set just Monday. The new record marks the 11th consecutive session of gains for the index, driven by a positive overnight close on Wall Street. All three major U.S. indices finished higher on Monday (local time). The Dow Jones Industrial Average gained 49.23 points (0.11 percent) to close at 45,883.45. Both the S&P 500 and the Nasdaq Composite closed at new record highs, rising 0.47 percent and 0.94 percent, respectively. In the KOSPI market, major tech stocks are leading the advance. SK hynix is trading up 2.04 percent at 337,750 won, while market leader Samsung Electronics rose 0.52 percent to 76,900 won. 2025-09-16 10:19:16 -
Soundtrack of K-pop anime continues historic run on Billboard charts SEOUL, September 16 (AJP) - One of the main theme songs from Netflix's hit South Korean anime "KPop Demon Hunters" stayed atop the U.S. Billboard Hot 100 singles chart this week, extending its streak on No. 1 for five weeks. "Golden" from the anime's soundtrack, claimed the No. 1 spot on the chart for a fifth week, becoming the "sole longest-leading hit by an animated act in the chart's 67-year history," Billboard said Monday. The song debuted at No. 81 following its release in late June and spent about 12 weeks on the chart before reaching No. 1 several weeks ago. The catchy song, by South Korean-American singer-songwriter Ejae along with American singers Audrey Nuna and Rei Ami, went viral thanks to the popularity of the anime, which tells the story of fictional K-pop superstars with "secret powers to protect their fans from supernatural threats." Along with "Golden," three other songs from the 12-track album like "How It's Done," "Soda Pop," and "Your Idol" also made the top 10. The soundtrack for the 100-minute film directed by Korean Canadian Maggie Kang also topped the Billboard 200 albums chart this week, achieving the milestone of reaching No. 1 on both of Billboard's main singles and albums charts. It is the first time in nearly five years that a K-pop album and one of its tracks have simultaneously topped both charts, since K-pop juggernaut BTS achieved the feat in December 2020 with their album "BE" and its title track "Life Goes On." 2025-09-16 09:54:59 -
Hyundai Motor averts strike with union deal SEOUL, September 16 (AJP) - Hyundai Motor's labor union has reached a new wage and collective agreement with management, averting a full-scale strike after months of tense negotiations. The agreement was finalized after a vote by union members. According to the company, Tuesday, 52.9 percent of its union members who participated approved the deal. The new agreement includes a 100,000 won monthly increase in the base salary, a performance bonus package of 450 percent plus 15.8 million won, 30 shares of company stock, and a 200,000 won gift certificate. Notably, the union’s primary demand to extend the retirement age was not granted. However, both parties have agreed to continue discussions and collaborate on the issue in preparation for any future government legislation that might alter the retirement age. The resolution comes after 21 rounds of negotiations since June. The union had staged partial, 2-to-4-hour strikes from Sept. 3 to 5 due to a breakdown in talks, and had also threatened a general strike. This ended a six-year streak of strike-free collective bargaining for Hyundai Motor. 2025-09-16 09:51:02 -
Korean firms explore stakes in $45 billion Alaska LNG project SEOUL, September 15 (AJP) - South Korean companies are emerging as early partners in a multibillion-dollar plan to export natural gas from Alaska, signaling growing alignment between Seoul’s energy ambitions and Washington’s push to expand liquefied natural gas (LNG) exports. Posco International last week became the first Korean firm to formally engage with Glenfarne Alaska LNG, the project’s developer, signing a preliminary agreement that covers potential LNG imports and steel pipe supply. If finalized, the nonbinding deal could lead to a 20-year contract for one million tons of LNG annually, while positioning Korea’s steelmakers to help construct the 807-mile pipeline linking Prudhoe Bay to the Nikiski port near Anchorage. Other Korean steel producers — including SeAH Steel, HUSTEEL and Nexsteel — are closely monitoring opportunities to provide the 42-inch-diameter pipes required for the line. Conglomerates such as SK, Hanwha and GS are also examining possible participation in energy-related aspects of the development. The $45 billion project, which aims to begin operations around 2030, is approaching a final investment decision by year’s end, according to Glenfarne and industry officials. Korea Gas Corporation, the state-run importer, is considering redirecting some of its LNG contracts from Middle Eastern suppliers to U.S. producers, part of a strategy to diversify energy sources and narrow the trade imbalance with America. 2025-09-15 17:43:41 -
Park Chan-wook's latest film wins award at Toronto film fest SEOUL, September 15 (AJP) - Director Park Chan-wook's latest film "No Other Choice" received an award at the Toronto International Film Festival (TIFF), which wrapped up on Sunday. The thriller, an adaptation of American writer Donald E. Westlake's novel "The Ax," won the inaugural International People's Choice Award, a prize given to the most popular international film at the festival as voted by audiences. The feat came after the film's lead actor Lee Byung-hun was honored with the Tribute Award last week, which is presented to recognize individuals with "distinguished achievements in filmmaking." The top prize, the People's Choice Award, at this year's TIFF, which does not have a jury-led competition section and is also decided by audiences' votes, went to "Hamnet" by Chinese-born director Chloé Zhao. Park's 12th feature, which 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, is set for release here next week. It will also serve as the curtain-raiser for this year's Busan International Film Festival in the southern port city, which opens later this week and runs until Sept. 26. 2025-09-15 17:35:56 -
North Korea vows nuclear weapons program to remain 'irreversible' SEOUL, September 15 (AJP) - North Korean state media on Monday condemned Washington for infringing on the country's sovereignty, citing a statement from its permanent mission to the U.N. in Vienna, where it reiterated that its status as a nuclear weapons state is "irreversible" under its constitution and vowed to "thoroughly oppose and reject" any attempt to change it. "We strongly denounce and reject the U.S. provocative act of revealing once again its invariable hostile intention against while openly interfering in its internal affairs and infringing upon its sovereignty," the state-run Korean Central News Agency (KCNA) reported. It also claimed that the U.S.' repeated calls for denuclearization amounted to a "grave political provocation" and showed that the U.S. had "no intention to coexist" with the North. The statement, in which Pyongyang claimed that its nuclear arsenal is an "inevitable option" to counter what it called Washington's "persistent nuclear threat," came at a recent meeting of the International Atomic Energy Agency's (IAEA) Board of Governors in Vienna, shortly after the U.S. reaffirmed its commitment to the "complete denuclearization of North Korea." North Korea also insisted that the IAEA has "no legal right or moral justification to interfere in the internal affairs" of the country, which it says lies outside the Non-Proliferation Treaty. Cho Han-bum, a senior researcher at the Korea Institute for National Unification, said North Korea appears to be justifying its nuclear development by leveraging closer ties with Russia while restoring its relationship with China following its leader Kim Jong-un's recent visit to Beijing. "By strengthening ties with its traditional allies of Russia and China, Pyongyang aims to justify its nuclear weapons program and resist international pressure for denuclearization," he said. "It could also be a signal that Pyongyang will not engage in talks if denuclearization is on the agenda," he added. Meanwhile, Kim's powerful sister, Yo-jong, warned the previous day that South Korea's joint military exercises with Japan and the U.S. would bring "bad results," calling them a "reckless show of force." The annual exercise, which began Monday, runs until Friday. 2025-09-15 16:53:35 -
K-beauty leaders sell assets, seek growth abroad as competition with indie brands intensifies SEOUL, September 15 (AJP) - South Korea’s top cosmetics companies are accelerating restructuring efforts, selling assets and seeking new growth channels as they confront intensifying competition from a rising wave of independent K-beauty labels. Industry officials said Monday Aekyung Industrial, best known for its dual portfolio of cosmetics and household goods, is preparing for a transfer of ownership to Taekwang Group. Cosmetics account for 40 percent of its revenue and generated 29.1 billion won ($21 million) in operating profit last year, outpacing the household goods unit. In July, Taekwang amended its articles of incorporation to include cosmetics manufacturing and sales, signaling a push to expand in beauty. Analysts expect the new ownership to reduce Aekyung’s heavy reliance on China, which makes up 70 percent of its export revenue, and to diversify into new markets. LG Household & Health Care, another pillar of South Korea’s beauty sector, is exploring the sale of its beverage arm, which reported 1.82 trillion won ($1.4 billion) in revenue last year. The company has tapped Samjong KPMG as its lead restructuring adviser. The beverage unit’s profitability has slipped in recent years, prompting LG to double down on its core beauty business. The company has also moved into beauty devices, acquiring LG Electronics’ Pra.L brand in June and partnering with the biotech firm Mimetics to develop needle-free delivery technology for home use. New products using the system are expected early next year. Amorepacific, South Korea’s largest cosmetics maker, is concentrating on overseas growth. The company aims to raise the share of global revenue to 70 percent by 2035, up from about half today. The firm's 2023 acquisition of the skincare brand CosRX strengthened its foothold overseas, and its “Pentagon 5” strategy lays out expansion across five regions: Korea, North America, Europe, India and the Middle East, China, and the broader Asia-Pacific. 2025-09-15 15:52:44