• South Korea proposes military talks with North to clarify MDL SEOUL, October 23 (AJP) - South Korea renewed its call for military talks with North Korea on Friday to clarify the Military Demarcation Line (MDL), restore military communication lines and prevent accidental border clashes.
• SK drops Solidigm IPO amid regulatory and shareholder pressure SEOUL, October 23 (AJP) - SK hynix has dropped plans to list its U.S. NAND flash subsidiary Solidigm amid pressure from South Korean regulators and minority shareholders over the potential erosion of shareholder value.
• Coupang ups U.S. political giving near 20% since Korea data breach SEOUL, October 23 (AJP) -Coupang’s U.S. political action committee stepped up fundraising and political donations following its massive data breach in South Korea, U.S. filings showed on Thursday.
• North Korea suspected of planting nearly 100 mines along DMZ SEOUL, October 23 (AJP) -North Korea has planted nearly one million land mines in the Demilitarized Zone (DMZ) over the last two years, the South Korea military reported during the parliamentary hearing period.
• Shinsegae chairman returns to E-Mart helm amid Starbucks fallout SEOUL, October 23 (AJP) - Shinsegae Group Chairman Chung Yong-jin was named co-CEO of E-Mart on Friday as the retail conglomerate unveiled a sweeping management reshuffle aimed at strengthening accountability and internal oversight, five months after a Starbucks Korea marketing controversy sparked nationwide criticism.
• BYD cars banned from US base in Okinawa, with USFK possibly next SEOUL, October 23 (AJP) - Chinese-made BYD electric vehicles will be banned from Kadena Air Base in Okinawa, Japan, starting next week, U.S. Forces Japan (USFJ) said on Friday, citing concerns that the vehicles could collect sensitive information about military facilities.

AJP Briefing>

• KOSPI sinks below 5,400 as Meta's AI spending fuels tech selloff SEOUL, October 23 (AJP) — South Korean stocks fell sharply at Friday's open, sending the benchmark KOSPI below 5,400 as concerns over the mounting costs of artificial intelligence (AI) investments triggered another selloff in semiconductor shares. The KOSPI stood at 5,353.48 as of 9:40 a.m., down 3.26 percent from previous close of 5,533.77. The index opened 2.36 percent lower at 5,403.17 before extending its decline. The junior KOSDAQ dropped 3.45 percent to 737.76, extending losse
• KOSPI wipes out prior gains as BOK pauses rate hikes SEOUL, Oct. 22 (AJP) - South Korean stocks fell 3.5 percent on Thursday, wiping out the previous session's gains, as the Bank of Korea paused its rate tightening while leaving the door open to further hikes. The move added pressure to a chip rally that was already losing momentum. The benchmark KOSPI shed 201.89 points or 3.52 percent to close at 5,533.77. Samsung Electronics lost 4.0 percent and SK hynix 5.5 percent as foreigners turned net sellers again after a single day of buying. The

AJP ScaleUP

• Regenerative medicine firm soars above IPO price on KOSDAQ debut SEOUL, October 22 (AJP) - Regenerative medicine firm MS Bio more than doubled from its initial public offering (IPO) price on its KOSDAQ debut Thursday before paring gains later in the day. The stock climbed as high as 19,650 won (US$14.81), about 2.5 times its IPO price of 7,800 won. It was trading at 12,920 won as of around 5 p.m. in after-hours trading, up 65.64 percent from the offering price. The firm priced its shares at the top of its proposed range of 6,800 won to 7,800 won after insti
• LS ELECTRIC shares fall despite major deal for US data center project SEOUL, October 19 (AJP) - Shares of South Korean power equipment maker LS ELECTRIC fell more than 4 percent in early trading on Monday amid broader concerns over a potential artificial intelligence (AI)-related investment bust, despite securing a 168.9 billion won (US$125.2 million) contract to supply electrical equipment for a U.S. data center project in 2027. The stock fell as low as 150,000 won before recovering to 158,800 won as of around 9:50 a.m. LS ELECTRIC will supply switchgear to its

ASIA Insight

• Korean chip bonuses spill over to competition SEOUL, October 22 (AJP) - Chipmakers in South Korea and Taiwan keep a civil distance despite cutthroat competition to advance chip technology and recruit talent. But the extraordinary AI chip windfall has turned heads in Taiwan’s cleanrooms as workers watch their Korean counterparts collect lavish rewards from the industry’s newfound riches. Union officials at U.S. memory chipmaker Micron Technology’s Taoyuan operation began a 24-hour warning strike Thursday, pressing for a p by Candice Kim
• Korea and Taiwan reap chip bounty, but currencies split the harvest SEOUL, October 21 (AJP) — Chip powerhouses South Korea and Taiwan have been enjoying a bumper harvest, but their stock and currency markets have shared unevenly in the bounty in the second half. Samsung Electronics and SK hynix, which powered a stock-buying frenzy that nearly doubled the KOSPI earlier this year, have surrendered much of their gains. The Korean benchmark’s remaining advance is now roughly half Taiwan’s 60-percent surge. In the currency market, however, Korea h by Kim Yeon-jae

AJP Watch

• Can a president consult an AI oracle? SEOUL, October 23 (AJP) - ChatGPT and Claude vie for headlines and users with faster and smarter upgrades, but in South Korea Gemini suddenly came into focus as an AI sage after President Lee Jae Myung disclosed he had consulted the Google chatbot on a matter of state. Lee, an avid social media user, wrote earlier this week that he had asked Gemini whether the heads of new prosecutorial and investigative agencies should attend weekly Cabinet meetings. He shared what he described as Gemini&rsqu
• Call of Duty's fictional Korean war hits close to home SEOUL, October 22 (AJP) - North Korea’s preparations to resume propaganda broadcasts and its recent missile tests have renewed tensions on the Korean Peninsula, alongside accusations that it planted a border mine that wounded three South Korean soldiers. For South Koreans watching the destruction in Ukraine and the Middle East, the prospect of similar devastation reaching their own streets carries a particular dread. For those who survived the 1950–53 Korean War, it also carries mem

AJP Focus

• BOK chief's inflation outlook hints rates unlikely to come down before '28 SEOUL, October 22 (AJP) - Bank of Korea Governor Shin Hyun-song on Thursday credited the board’s two successive summer rate hikes with helping cool inflation and steady currency and debt markets while signaling that rates won't likely come down before 2028. Speaking after the monetary policy board unanimously held the base rate at 3.00 percent, Shin described the pause as the payoff from acting early. The BOK raised rates by a quarter percentage point in both July and August after ho
• Korea's rice farmers struggle to keep a staple—and a livelihood—alive SEOUL, October 20 (AJP) - Rice farming is a labor as old as Korea’s 5,000-year history, its harvest a staple of daily meals and an essential ingredient in the country’s cuisine. Yet the farmers sustaining that legacy face a difficult squeeze: aging hands, costly machinery and a changing appetite for the grain they grow. In Icheon, a city in Gyeonggi Province famed for its premium rice, autumn brings both the harvest and a festival celebrating it. Beyond the festival grounds, the wo