OPINION: China's rare earth leverage tests America — and its allies SEOUL, October 31 (AJP) - At the APEC summit in Gyeongju, the summit between the leaders of the United States and China drew intense global scrutiny. After months of escalating trade friction, the world watched as Washington and Beijing sought a breakthrough. No major trade deal emerged. Still, the two sides agreed to a temporary pause in their hostilities: China postponed its planned export restrictions on rare earth elements, announced on Oct. 9, while the United States suspende October 31, 2025

OPINION: Embracing 'creative destruction' in South Korea's shipping industry SEOUL, October 30 (AJP) - This year’s Nobel Prize in Economics celebrated the power of innovation and sustainable growth through the lens of “creative destruction.” Co-recipient Prof. Peter Howitt underscored the need for a competitive environment that enables market leaders to keep innovating — a concept rooted in Joseph Schumpeter’s classic theory that progress is driven as much by destruction as by creation. That message resonates deeply with Sou October 30, 2025

[OPINION] Multilateral cooperation powers Asia-Pacific growth as openness, innovation shape future SEOUL, October 29 (AJP) - At the Gyeongju Hwabaek International Convention Center in South Korea, representatives from the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) will soon gather to chart a new blueprint for shared growth. As a responsible major country and an active participant, contributor and leader in Asia-Pacific cooperation, China calls for openness and inc October 29, 2025

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

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

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

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

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

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

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