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  OPINION: Promise and peril of 'productive finance' in South Korea Oh Jung-geun, head of Free Market Research Institute SEOUL, October 29 (AJP) - When Lee Eok-won, South Korea’s new chairman of the Financial Services Commission, unveiled his vision for “financial transformation” on Sept. 15, his message was both ambitious and urgent. Lee called for “productive finance,” “consumer-centered finance,” and “trust finance” — a sweeping reform agenda meant to propel the country’s economic fu October 29, 2025
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  OPINION: What South Korea's MASGA initiative means for its alliance with US SEOUL, October 28 (AJP) - South Korea's alliance with the U.S., has long been a cornerstone of security on the Korean Peninsula, combining Washington's extended deterrence with Seoul's defense capabilities to counter North Korea's nuclear threats. But a confluence of new and complex issues is challenging the resilience of the alliance amid a rapidly shifting landscape in Asia and the broader Indo-Pacific region, driven by intensifying rivalry and trade disputes b October 28, 2025
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  OPINION: South Korea's defense rise owes debt to Russia SEOUL, October 28 (AJP) - President Lee Jae Myung recently declared that South Korea aims to become the world’s fourth-largest defense exporter by 2030 — a bold vision reflecting the country’s growing role in the global arms market. According to the Stockholm International Peace Research Institute, South Korea ranked 10th in defense sales in 2023. Its share of global arms exports surged from 1 percent in 2012–2016 to 2.8 percent in 2017–2021 on averag October 28, 2025
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  OPINION: China's rapid AI rise signals new phase in global race SEOUL, October 24 (AJP) - The race to dominate artificial intelligence is accelerating — and China is catching up fast. Once seen as lagging far behind Silicon Valley, China’s AI industry has surged forward, led by DeepSeek, a startup founded in 2023 that has quickly emerged as a formidable rival to OpenAI. Within two years, the company introduced its R1 model, which it claims outperforms OpenAI’s o1 system — and did so at a fraction of the cost, roughly October 24, 2025
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  OPINION: Potholes, aging tunnels, and tight budgets SEOUL, October 22 (AJP) - South Korea’s once-celebrated expressways and bridges are showing their age. A new analysis by Rep. Bok Ki-wang of the Democratic Party found that more than 26,000 potholes have appeared on highways across the country over the past five years, with most concentrated on older routes long overdue for repair. The Yeongdong Expressway, one of the nation’s busiest arteries linking Seoul and Gangwon Province, accounted for 27 percent of the tota October 22, 2025
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  OPINION: As aging deepens, South Korea confronts growing consumption slowdown SEOUL, October 22 (AJP) - South Korea’s economy expanded modestly in the second quarter, with gross domestic product rising 0.6 percent from a year earlier, reflecting persistent weaknesses in consumer spending that threaten to slow long-term growth. According to government data, private consumption increased 0.9 percent from a year earlier, while government spending rose 2.6 percent. Construction investment plunged 11.4 percent, offset by a 3.4 percent gain in facility inve October 22, 2025
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  OPINION: Coupang can't build Korea's AI future alone SEOUL, October 21 (AJP) - Artificial intelligence is fast becoming the engine of global economic growth. According to Precedence Research, the global AI market is projected to expand from 1,033 trillion won this year to more than 5,020 trillion won — about $3.68 trillion — by 2034. That figure is seven times South Korea’s annual budget and roughly half the size of the United States’ federal spending. Against this backdrop, South Korea has set its sig October 21, 2025
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  OPINION: Stricter regulations push young people's dreams of owning home further out of reach SEOUL, October 17 (AJP) - "I waited for the government to bring housing prices under control, but now it's almost impossible to buy a home even with dual incomes," lamented one salaried worker. Two years ago, he put off purchasing a home, but his dream has now collapsed, following a new set of even stricter real estate and loan regulations announced earlier this week by the Ministry of Land, Infrastructure and Transport. Under the measures aimed at curbing soaring ho October 17, 2025
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  OPINION: Korean rice could find second life — in a glass SEOUL, October 14 (AJP) - For generations, rice has been more than just food for Koreans — it has been the foundation of daily life and the symbol of a shared table. But that symbol is fading. In the 1970s, the average Korean ate more than 130 kilograms of rice each year. By 2024, that number had fallen to just 55.8 kilograms. As bread, noodles and ready-to-eat meals became more convenient, rice quietly lost its central place in the national diet. The decline is October 14, 2025
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  OPINION: South Korea's illusion of peace At the recent United Nations General Assembly, President Lee Jae Myung unveiled his "END Initiative," a plan aimed at ending the Cold War on the Korean Peninsula through exchange, normalization, and denuclearization. While presented as a flexible, multi-pronged approach, the initiative raises a critical, uncomfortable question: Does South Korea still suffer from the fatal illusion that North Korea can be coaxed away from its nuclear arsenal? The reality is that Lee&rs September 29, 2025