• UNC says DMZ mine incident violated Korean War armistice SEOUL, September 30 (AJP) - The United Nations Command said Wednesday that the recent DMZ mine incident violated the Korean War armistice after an operable North Korean mine was found south of the Military Demarcation Line.
• Crisis Group warns DMZ blast raises escalation risks SEOUL, September 30 (AJP) - A recent land mine explosion in the Demilitarized Zone has underscored the risk of unintended escalation between the two Koreas at a time when Seoul and Washington are exploring renewed diplomacy with Pyongyang, experts at the International Crisis Group said Wednesday.
• BOK to add gold to its coffers for the first time since 2013 SEOUL, September 30 (AJP) — The Bank of Korea (BOK) is going gold shopping in December for the first time since February 2013, adding about one metric ton of domestically produced bullion to its foreign reserves.
• Korean securities issues plunge nearly 40% Aug amid rising yields SEOUL, September 30 (AJP) —South Korean securities offerings fell 38 percent on month in August on sluggish stock market and bond demand from higher rates, government data showed Wednesday.
• Korea's Aug factory output in steepest decline in 10 months SEOUL, September 30 (AJP) — South Korea's factory output tumbled 5.1 percent in August, while retail sales fell for a second month and equipment investment reversed July's gain, government data showed Wednesday.
• Korea's mortgage rates hit four-year high SEOUL, September 30 (AJP) — South Korea's average mortgage rate rose to 4.66 percent in August, its highest since November 2022, as borrowing costs increased across household and corporate loans, central bank data showed Wednesday.

AJP Briefing>

• Korea breaks ground on Boston-style biotech hub SEOUL, September 30 (AJP) - Construction of a state-backed lab complex for South Korean biotech startups began Wednesday in Incheon, the Ministry of SMEs and Startups said, with 60 companies due to move in on completion in November 2028. The K-Bio Lab Hub, modeled on Boston's LabCentral incubator, carries a total cost of 217.3 billion won ($160.4 million). Yonsei University is supplying the site on its Songdo campus, and Incheon city is funding construction. Fifty units for early-stage fi
• Japan leads Asian stocks while Korean bonds rebound SEOUL, September 30 (AJP) -Japanese shares led East Asian markets Wednesday as Seoul and Shanghai managed only modest gains amid a continued rise in U.S. Treasury yields, with the 30-year yield reaching a 24-year high. Japan’s Nikkei 225 rose 1.2 percent to 66,271.28 as of midday. South Korea’s KOSPI edged up 0.1 percent, while the Shanghai Composite gained 0.3 percent to 3,842.30. Hong Kong’s Hang Seng Index fell 0.25 percent to 24,463.22. The subdued regional performance fo

AJP ScaleUP

• Humanoid maker Aei Robot moves to mass production SEOUL, September 30 (AJP) - Aei Robot will spend 40 billion won ($29.5 million) on its first plant for mass-producing humanoid robots, the Ansan city government said. The company signs the agreement Wednesday at Hanyang University's ERICA campus in Ansan, south of Seoul, with the Gyeonggi Free Economic Zone Authority, the university and the city government. Construction of the three-story building, which will span about 10,000 square meters, begins in November and is due to finish in Octob
• NEX-I files for KOSDAQ IPO to raise up to 65 billion won SEOUL, September 28 (AJP) - South Korean cancer drug developer NEX-I has submitted a regulatory filing for a KOSDAQ listing, seeking to raise up to 65 billion won ($47.8 million) through an initial public offering (IPO). The company plans to offer 5 million shares at a proposed price range of 10,500 won to 13,000 won apiece, putting the total offering at between 52.5 billion won and 65 billion won. Korea Investment & Securities is the lead underwriter. Founded in 2021, NEX-I develops antib

ASIA Insight

• Big on scale, Asian Games competes for divided attention SEOUL, September 30 (AJP) - Takuya Enomoto knows the Asian Games are taking place in his country. He checks the results every day. Watching them is another matter. “I don't really have the time,” said Enomoto, a 33-year-old pharmacist in Japan. “It's not like the Olympics, where there's a lot of hype.” Busy with work, he rarely goes out of his way to watch an event live. Instead, he opens Yahoo once a day to check the scores. “That doesn't take th by Joonha Yoo
• Korea's mortgage bomb ticks as market rates surge SEOUL, September 29 (AJP) — Rapidly rising mortgage rates as domestic markets track a surge in U.S. Treasury yields are unnerving South Korean borrowers carrying more than $850 billion in housing debt and complicating the central bank’s fight against renewed inflationary pressure. Mortgage loans stood at 1,190.8 trillion won ($852 billion) at the end of June, accounting for about 63 percent of the country’s 1,891.3 trillion won in outstanding household loans, according to Bank by Kim Yeon-jae

AJP Watch

• G-Star goes global by chance as Korean publishers lose home ground SEOUL, September 30 (AJP) - South Korean game publishers are losing the battle for attention at home as short-form videos and streaming lure players away from marathon gaming sessions. Their retreat has a floor plan. Foreign publishers are filling the gaps at G-Star, the country's flagship game show in Busan this November, while Korean heavyweights chase audiences abroad. A floor plan released Tuesday for the Nov. 19–22 show in Busan lists Krafton and mid-sized Webzen as the only maj
• When ads stop looking like ads SEOUL, September 29 (AJP) - The digital wave has torn down the fence between advertising and entertainment in South Korea. Banks produce web dramas and variety shows. Retailers try short-form comedy. Brands commission songs and music videos, and even create their own idols. Construction companies are joining in, seeking an audience that can swipe past a conventional ad in seconds. As viewing shifts toward streaming services and algorithm-driven feeds, brands are no longer simply buying space

AJP Focus

• For young Koreans, subscriptions make more sense than ownership SEOUL, September 30 (AJP) - A recent Samsung Electronics sales pitch for newlyweds in Cheongdam, a high-end shopping district in southern Seoul, was unusual: the familiar lineup of refrigerators, washing machines and TVs was missing. Instead, the household appliance giant was selling a subscription package: kitchen and living room appliances bundled with care services and tailored to the size of a couple’s first home. The pitch reflected a changing calculation among younger South Koreans
• Samsung Q3 income to top $70 bn: consensus SEOUL, September 29 (AJP) - Samsung Electronics is expected to extend its milestone-setting earnings streak in the quarter ended September, eyeing a three-month operating profit of more than 100 trillion won ($70 billion) as the global memory boom rolls on. A recent one-month consensus compiled by financial data provider FnGuide puts July-September operating profit at around 106 trillion won, topping the previous quarterly record of 89.5 trillion won set just three months earlier. Revenue is pr