Seoul expects details on nuke submarine and wartime command in SCM week

SEOUL, November 03 (AJP) - Seoul and Washington are expected to discuss detailed plans for the transition of wartime operational control (OPCON) and South Korea’s nuclear-powered submarine initiative — two agenda items that could reshape the country’s self-defense posture — during this week’s high-level bilateral security talks. The 57th annual Security Consultative Meeting (SCM), set for Tuesday in Seoul, is expected to focus on adjustments to the c

November 3, 2025

HS Hyosung acquires Belgium's battery materials company for $145 million

SEOUL, November 03 (AJP) - South Korea's HS Hyosung Group said Monday it has entered the next-generation battery materials market with the acquisition of EMM, the battery anode subsidiary of Belgium’s Umicore, for about 200 billion won, or roughly $145 million. The deal also includes the creation of a joint venture between the two companies to advance silicon anode technology. Umicore, specialized in materials science, has long been known for its expertise in batter

November 3, 2025

Actor Yeo Jin-goo to join KATUSA next month

SEOUL, November 3 (AJP) - Actor Yeo Jin-goo will begin his mandatory military service with the Korean Augmentation to the United States Army (KATUSA) next month. "Recruited as a member of KATUSA, Yeo will fulfill his 18-month military duty starting Dec. 15," his management agency said on Monday. "We ask for your continued support and encouragement until he returns healthy and more mature after completing his military duty," it added. But the exact time an

November 3, 2025

HD Hyundai joins hands with Siemens to spur digital transformation in shipbuilding

SEOUL, November 03 (AJP) - South Korea's HD Hyundai has signed a partnership with Siemens of Germany to bring digital transformation and automation technologies to the United States shipbuilding industry. The companies signed a memorandum of understanding on Monday at the Lahan Select Hotel in Gyeongju, the venue for the Asia-Pacific Economic Cooperation summit. The agreement calls for collaboration in digital ship design, process automation, and data-driven quality manageme

November 3, 2025

POST-APEC: Seoul plays wise and practical in balancing role among global powers

SEOUL, November 03 (AJP) -South Korea emerged from the Asia-Pacific Economic Cooperation summit with more than ceremonial optics, securing substantive outcomes from both Washington and Beijing while helping revive multilateral cooperation on shared challenges ranging from artificial intelligence to demographic headwinds. The two-day summit of 21 economies adopted the Gyeongju Declaration, reaffirming APEC’s pillars of trade and investment liberalization, business facilitatio

November 3, 2025

South Korea urges North Korea to come forward for talks

SEOUL, November 3 (AJP) - The Ministry of Unification on Monday urged North Korea to break its silence and return to dialogue, stressing that opportunities for peace on the Korean Peninsula including talks with the U.S. remain open. "South Korea will continue to work toward restoring inter-Korean relations," said Ministry spokesperson Koo Byung-sam during a regular briefing, offering another conciliatory gesture to the isolated country. But the ministry refrained from c

November 3, 2025

Korean Economy/Business Calendar

SEOUL, November 03 (AJP) - Nov. 4, Tue Consumer Price Index, October 2025 (Ministry of Data and Statistics) Q3 Results (EcoPro BM) Q3 Results (Krafton) Q3 Results (GS E&C) Nov. 5, Wed Economically Active Population Survey, August 2025 (Ministry of Data and Statistics) Q3 Results (Naver) Q3 Results (EcoPro and its subsidiaries) Q3 Results (Kakao Bank) Q3 Results (Doosan Enerbility) Q3 Results (Hanwha Solutions) Nov. 6, Thu Multicultural Population Dynamic

November 3, 2025

Foreign home purchases fall to 32-month low in S. Korea after new restrictions

SEOUL, November 03 (AJP) - Purchases of residential properties by foreigners in the Seoul metropolitan area fell to their lowest level in nearly three years last month, following the government’s introduction of tighter restrictions on foreign real estate transactions. According to data from the court, 560 foreigners completed ownership transfers for homes in Seoul, Gyeonggi Province and Incheon in October — the fewest since February 2023, when only 427 transaction

November 3, 2025

SK brings global tech giants as well as Korean startups in AI agent ecosystem

SEOUL, November 03 (AJP) - SK Group, chip-strong and central to South Korea's AI ambitions through alliances with global leaders such as Nvidia, OpenAI and Amazon Web Services, is positioning itself as a front-runner in the emerging field of AI agent services by leveraging its strengths in high-performance memory chips, wireless networks and hyperscale data-center technologies. "AI is no longer a competition of scale, but a competition of efficiency. This paradigm shift is

November 3, 2025

Celltrion wins Irish approval for purchase of Eli Lilly plant in New Jersey

SEOUL, November 03 (AJP) - South Korean biopharmaceutical company Celltrion said Monday that it has received approval from the Irish government for its planned acquisition of Eli Lilly’s manufacturing facility in the United States, leaving only U.S. regulatory clearance before the deal can close. The Competition and Consumer Protection Commission of Ireland granted final approval for the purchase on Oct. 31, according to Celltrion. The deal requires the review under Irish

November 3, 2025