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  Santa rally in Asia kicks off on wobbly note SEOUL, December 23 (AJP) - Asian equity markets opened Tuesday on a fragmented footing, as the first session of the traditional five-day “Santa rally” window failed to deliver a uniform year-end surge. With momentum cooling after recent gains, investors across the region adopted a wait-and-see stance. In Seoul, the benchmark KOSPI rose 0.57 percent to 4,129 as of 10:45 a.m., extending gains for a second day after Monday’s 2 percent rally. Foreign and instituti December 23, 2025
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  Korean won nears annual trough despite all-out defense SEOUL, December 23 (AJP) - The Korean won is nearing its annual trough of 1,487.6 per dollar last seen on April 9, when global markets reeled from renewed risk aversion triggered by Donald Trump’s tariff barrage, despite all-out defensive efforts by South Korean authorities. The dollar closed Tuesday in Seoul at 1,483.6 won, up 3.5 won even as the dollar index eased 0.23 percent to 98.072 and the greenback softened against the Japanese yen — underscoring idiosyncratic w December 23, 2025
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  POSCO invests $3 million in US humanoid robot startup in push for 'physical AI' SEOUL, December 23 (AJP) - POSCO DX is making a strategic investment in a U.S.-based industrial humanoid robot startup as it seeks to accelerate automation and improve safety at heavy industrial sites such as steel mills. POSCO DX, led by Chief Executive Shim Min-seok, said on Tuesday it will invest $2 million in Persona AI and collaborate with the company on joint robot development. Including a separate $1 million investment from a fund backed by POSCO Technology Investment, the December 23, 2025
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  Nearly 90% of North Korean defectors satisfied with life in South Korea, survey finds SEOUL, December 23 (AJP) - About eight in 10 North Korean defectors say they are satisfied with their new life in South Korea, a survey reveals. The Korea Hana Foundation on Tuesday released its survey of around 2,500 North Korean defectors who arrived in Seoul between January 1997 and December last year. This year's survey, conducted through face-to-face interviews by about 76 specialized counselors, with a response rate of 86.4 percent or around 2,160 respondents, found tha December 23, 2025
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  Hyundai E&C joins offshore wind farm project in $480 million deal SEOUL, December 23 (AJP) - Hyundai Engineering & Construction (Hyundai E&C) said on Tuesday it has signed a construction contract worth 668.4 billion won ($480 million) to participate in an offshore wind farm project off Sinan, South Jeolla Province, a development with a total construction cost of 2.64 trillion won. The project, led by Hanwha Ocean, calls for the installation of 26 offshore wind turbines, each with a capacity of 15 megawatts, in waters southeast of Uido December 23, 2025
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  Korean automaker KGM partners with Samsung SDI on developing EV battery packs SEOUL, December 23 (AJP) - South Korean automaker KG Mobility (KGM) has signed a memorandum of understanding with Samsung SDI to form a strategic partnership aimed at developing and commercializing electric vehicle battery packs. Under the agreement, the two companies will jointly develop cylindrical nickel-cobalt-aluminum (NCA) battery packs and cooperate closely on high-voltage battery pack development, testing and production. The project will use Samsung SDI’s cylind December 23, 2025
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  New phone activations require face verification under pilot program SEOUL, December 23 (AJP) - Starting Tuesday, anyone activating a new mobile phone in South Korea must undergo face verification in addition to presenting an ID. The Ministry of Science and ICT said it launched a pilot program for stricter identity checks to prevent phones from being illegally activated for crimes such as voice phishing and smishing. Under the program, face verification will be mandatory for new activations at in-person sign-up counters run by major telecom oper December 23, 2025
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  KAI-backed AI firm Meissa raises $7 million ahead of planned 2026 IPO SEOUL, December 23 (AJP) - Korea Aerospace Industries (KAI) said on Tuesday that Meissa, a drone- and satellite-based geospatial artificial intelligence company in which it is a strategic investor, has completed a 9.7 billion won ($7 million) pre-IPO equity financing round. The deal brings Meissa’s cumulative funding to 35 billion won, the company said, adding that the proceeds will be used to upgrade its business operations. Meissa is targeting an IPO in the second half o December 23, 2025
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  Unionized rail workers postpone strike for now SEOUL, December 23 (AJP) - Unionized railway workers called off their planned all-out strike after receiving a new offer on bonus payments overnight. State-run rail operator KORAIL's workers, who had planned to go on strike starting with the first train on Tuesday unless the agreements are fulfilled, said they would discuss further on performance-based bonuses, as management proposed gradually restoring them from 80 percent of base pay to 90 percent next year and to full pay in December 23, 2025
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  South Korea unveils roadmap to move chemical sector up global value chain SEOUL, December 23 (AJP) - South Korea will revamp public-private research and development in its chemical industry to accelerate a shift toward higher value-added and environmentally friendly production, the government said on Tuesday, aiming to lift the sector’s global standing by 2030. The Ministry of Trade, Industry and Energy said it launched a chemical industry innovation alliance at a ceremony held at the Lotte Hotel in central Seoul, attended by representatives fro December 23, 2025