Nineteen aspiring entrepreneurs will put their business ideas to the test in Seoul’s Ikseon-dong neighborhood Friday, showcasing products and services developed over five months in a city-backed program designed to turn local culture and resources into viable businesses. The Seoul Metropolitan Government said the pop-up event will run from 12:30 p.m. to 7 p.m. on the first floor of Stage X Ikseon, where visitors can try prototypes, offer feedback and help participants assess market demand. The teams are part of the fifth cohort of Local in Seoul, a program that trains young entrepreneurs to build brands rooted in the character, stories and resources of local neighborhoods. Since their selection in June, participants have prepared business ideas in four local commercial districts: Magok Art Street in Gangseo District, Konkuk Youth Street in Gwangjin District, Noryangjin Mannaro in Dongjak District and Gwanghui Road in Jung District. The projects range from tea-tasting kits inspired by East Asian traditions to interactive activities built around board games, emotion cards and illustrated

Korea's budget ministry said Monday it will begin reviewing spending restructuring measures in November for inclusion in the 2028 budget proposal, as part of efforts to develop detailed plans to improve spending efficiency. The Ministry of Planning and Budget unveiled the plan after incorporating 88 measures to cut spending by 44.2 trillion won ($33.4 billion) into the 2027 budget proposal. "In 2027, we plan to eliminate inefficient spending more promptly and precisely," Budget Minister Park Hong-geun said during a meeting of the Fiscal Management Strategy Committee. "We plan to begin identifying tasks in November and expand participation by private-sector experts and civil society groups," Park added. The budget ministry said it plans to harness artificial intelligence (AI) technologies to identify such tasks. "The government plans to use AI assistants to thoroughly review potential tasks, including issues raised by the National Assembly, the audit board and the press, and develop reasonable solutions by analyzing similar cases abroad," the ministry said.

A coalition of 180 civic organizations is urging the government to rewrite its first national population strategy, saying the plan risks sidelining families even as Korea confronts persistently low birthrates and mounting demographic challenges. The Federation for Korean Families made six demands at a news conference, Friday, at the National Assembly, calling for clearer fertility targets, stronger family support and a dedicated body to coordinate policies on marriage, childbirth, child-rearing and caregiving. The group said the government's first National Population Strategy Basic Plan fails to include a target for raising the total fertility rate, despite a previously announced goal of reaching 1.0 child per woman by 2030. The federation said indicators such as life satisfaction and labor force participation cannot, by themselves, show whether people who want to marry and have children are facing fewer obstacles. It called on the government to pair demographic targets with measures addressing housing costs, child-rearing expenses, work-life balance and access to caregiving time, arguin

A global network of Korean diaspora business leaders will connect 160 regional companies with overseas buyers this week in an effort to open new export markets for small and medium-sized enterprises (SMEs). The Overseas Koreans Agency said Monday it would host the two-day World Korean Business Export Consultation on Oct. 27-28 in Wonju, Gangwon Province, and Daejeon, in partnership with the two local governments. About 160 buyers, including 20 members of the OK-Biz business advisory group, will take part alongside 160 SMEs from the two regions. The event will offer tailored, one-on-one business consultations in sectors including food, beauty, information technology and biotechnology, matching companies with buyers based on their industries and commercial needs. The initiative aims to turn connections forged through the 24th World Korean Business Convention into concrete opportunities for regional businesses seeking to expand overseas, drawing on the advisory group's international business networks. The agency has previously worked with local governments, including Busan, Jeonnam-Gwangju S

The remains of a French veteran of the 1950-53 Korean War will be brought to Korea on Tuesday and buried at the U.N. Memorial Cemetery in Busan this weekend, fulfilling his wish that he be laid to rest in the country he fought for, the Ministry of Patriots and Veterans Affairs said Monday. Serge Archambeau, who died on June 5 at the age of 96, volunteered for the war and served as a bazooka gunner with the 3rd Company of the French Battalion, part of the United Nations forces, from October 1951 to September 1952. He fought in some of the war’s fiercest battles, including the so-called Battle of T-Bone Hill and the Battle of the Iron Triangle, and received the Cross for Military Valour with bronze star and other French honors. His remains will arrive at Incheon International Airport’s Terminal 2 on Tuesday. Roger Quintard, secretary-general of a French veterans’ association and executor of Archambeau’s will, will accompany them because the veteran’s family is unable to travel for health reasons. A ceremony marking the arrival of the remains will begin at 12:20 p.m. A Ministry o

A civic group has filed a complaint with police against Agriculture Minister Song Mi-ryung over the government's ongoing farmland survey, accusing her of abusing power, sources said Monday. The Seoul Metropolitan Police Agency received the complaint from the People's Welfare Countermeasure Committee on Sunday, claiming Song pressed ahead with the survey without sufficient consultation from farmers, causing anxiety among them, according to the sources. The government launched the comprehensive nationwide survey earlier this year in an effort to determine the actual ownership of farmland and prevent it from being used as a speculative asset. Critics, however, have voiced concerns over the survey, arguing that it could infringe on the property rights of farmers.

A man in his 80s, suspected of transporting more than 5 tons of narcotics aboard a fishing vessel in waters off South America in the early 2000s, has been repatriated to Korea after spending 22 years on the run, police said Monday. The Korean National Police Agency (KNPA) said the man, whose identity was withheld, was brought back home on Oct. 20 in coordination with the Busan Coast Guard after being deported by authorities in Ghana, where he had been hiding for about 22 years. The man is accused of transporting narcotics on behalf of a drug trafficking organization on five separate occasions in international waters off South America between 2002 and 2004, when he was serving as a supervisor of a deep-sea fishing vessel, and receiving payment for the shipments. The KNPA said the transported narcotics are believed to have been 5,385 kilograms of cocaine worth about 4.8 trillion won ($3.6 billion). The suspect fled to Ghana after his accomplices were arrested and lived there as an undocumented immigrant from around 2004. His repatriation came after the Busan Coast Guard placed him on Inter

Korea and the United States kicked off their combined air drills this week, focusing on counter-air and air interdiction missions aimed at enhancing wartime joint operations, the Air Force said Monday. The Freedom Flag exercise began Monday for a two-week run at Kunsan Air Base in Gunsan, about 180 kilometers southwest of Seoul, involving the allies' key aerial assets, including the Korean Air Force's F-15K, KF-16 and F-35A fighter jets, the armed force said in a release. The KC-330 transport aircraft and E-737 Peace Eye early warning and control aircraft will also be deployed for the exercise. The U.S. Air Force's F-16 Fighting Falcon jet, RC-135 reconnaissance plane and its Navy's MH-60S Seahawk helicopter, as well as the F-35B stealth fighter jet and the MQ-9 Reaper unmanned surveillance aircraft of the U.S. Marines Corps will also participate in the drills. The air forces will operate day and nighttime "mission planning cells" to exchange tactics and expertise, while refining wartime operational and mission execution procedures, the Air Force said. The missions are designed to enhance

The new presidential special inspector, Choi Kil-su, on Monday pledged to uphold political neutrality and professional independence as he began his duties inspecting irregularities involving the president's spouse and close relatives. Choi made the remarks to reporters at his office in central Seoul, following President Lee Jae Myung's formal appointment of him Friday to the post tasked with inspecting corruption allegations involving the president's family and close relatives, as well as senior presidential aides. He is the first presidential special inspector appointed since late 2016, following the post's creation in 2014. "I will uphold political neutrality and independence in carrying out my duties to the end," Choi told reporters, adding he feels a heavy responsibility and will work to meet the public's expectations. Choi also pledged rigorous inspections, saying he plans to serve as a "panopticon," a circular prison design that allows inmates to be constantly monitored. "Inspections are not something for which you have to wait, like the filings of complaints or lawsuits, but (basic

A special counsel team said Monday it plans to examine about 2.5 million ballots at a vote counting center this week as part of its probe into ballot shortages during the June 3 local elections. Special counsel Lee Tae-han's team will carry out the examination Wednesday at the Olympic Park Handball Gymnasium, which served as a vote counting center during the local elections marred by the shortages. The team plans to verify the 2.47 million ballots and other equipment at the site to check for irregularities, such as possible forgery, in the presence of observers chosen by the National Assembly, lawmakers and journalists. The team said the examination will not serve as a recount of the votes, which takes place when there is an objection to election results. "By thoroughly investigating various suspicions in this examination, we will do our best to resolve the public's skepticism on the fairness and management of public elections," the team said. Lee's team was launched last month to investigate the shortages that sparked a major public outcry after some voters were forced to turn back witho

President Lee Jae Myung's approval rating fell to 35.3 percent after rebounding the previous week, a poll showed Monday. In the poll conducted on 2,517 adults nationwide from last Monday to Friday by Realmeter, positive assessments of Lee's job performance fell 2 percentage points from the previous week. Lee's disapproval rating stood at 62.3 percent, up 1.9 percentage points from the previous week. Realmeter attributed the decline to growing concerns over the housing market and the economy, including the recent stock market plunge. The pollster also cited North Korea's threat to resume loudspeaker broadcasts toward the South and controversy over whether the chief of the Serious Crime Investigation Agency should attend Cabinet meetings. In a separate survey of 1,003 adults conducted between Thursday and Friday, support for the ruling Democratic Party of Korea fell 0.2 percentage point to 36 percent, while that of the main opposition People Power Party rose 1.7 percentage points to 42.6 percent. The survey on the president had a margin of error of 2 percentage points at a 95 percent confide

Lit Lounge opened the doors of its Itaewon location just about four years ago in late October 2022. Following a soft opening on Oct. 27 and 28, its grand opening was held on Saturday, Oct. 29, a day that would go down in infamy, after 159 people died in a crowd disaster in a narrow alley a little less than 400 meters away. "Lit Lounge's early existence was shaped by one of the most devastating tragedies in recent Korean history: The Itaewon Halloween crowd crush," said Jason Waller, owner of Lit Lounge. "For many of us operating businesses in Itaewon, the aftermath of this tragedy was even more devastating than the COVID-19 pandemic." It would have been understandable, maybe even advisable, if he just quit. But Waller, also known as Pinnacle TheHustler, decided to keep going. "I think the biggest reason I refused to close Lit Lounge was because I didn't want to look in the mirror and see someone who had given up. But for me, as long as I still believed in what I was building and I could still see a path forward, I wasn't ready to quit," he said. "And now, Lit Lounge, which started in 202

Seoul is bringing financial technology startups and global industry leaders together this week to explore how artificial intelligence (AI) could reshape personal finance while opening new paths to investment and growth for emerging businesses. Seoul Fintech Week 2026 began Monday and continues through Wednesday at Conrad Seoul and around the International Finance Centre in Yeouido, with the Seoul Metropolitan Government, Financial Supervisory Service and Shinhan Financial Group among its co-hosts. Held under the theme “AI-driven digital finance transformation: Finance that knows me,” the event will examine personalized financial services, AI agents and data-driven tools designed to tailor services to individual users. The opening ceremony on Monday included a speech by Seoul Mayor Oh Se-hoon and awards for three companies selected through the Finovation Challenge, a city-backed program supporting fintech startups through industry partnerships and real-world technology testing. Six companies — Advisor Lauren, Kleon, Momstay, First Value, Caring and Fairy Tech — were candidates for

Samsung Electronics Co. said Monday it aims to use artificial intelligence (AI) to cut the time needed to develop new semiconductor materials by three years. The company announced the goal at a forum hosted by the Korea Industry Association Forum, where participants discussed the use of AI in industrial research and development (R&D). "We aim to shorten the development period for new semiconductor materials from five years to two years using AI and increase the number of promising material candidates identified by more than fivefold," Choi Young-sang, an official at the Samsung Advanced Institute of Technology, the company's R&D center, said at the forum. Choi said semiconductor materials consist of multiple thin-film layers, creating more than 100 million possible material combinations for a seven-layer structure. However, researchers can conduct only about 50 experiments a month. "Under the conventional approach, which relies on researchers' experience and intuition, it can take months or even years to identify candidate materials. Data from failed experiments also has not been fully u

P&G Korea is expanding its community outreach by improving access to household products for visually impaired people and recycling plastic waste into public amenities such as benches. P&G Korea, the Korea Consumer Agency and a council of participating businesses jointly held a donation ceremony for household products with braille labels and a safety education session on Oct. 15 to mark the 47th White Cane Safety Day, which honors the achievements of blind and visually impaired people and celebrates the white cane as a universal symbol of their independence. Since 2022, P&G Korea has supported visually impaired people by providing household products and funding the production of braille tags and stickers. The company has donated 15 million won ($10,600) worth of household products, including Downy fabric enhancers and Head & Shoulders hair care products, as well as 2 million won to support the production of braille tags and stickers. This year, P&G Korea held its first household product safety education session for visually impaired students. The session was held for preschool and elemen

Hyundai Glovis is joining forces with Shopee to help Korean beauty brands navigate the logistical hurdles of overseas expansion, betting that smoother shipping and customs procedures can turn global demand for K-beauty into a larger business opportunity. The logistics company said Monday it began operating under an end-to-end logistics partnership with Shopee Korea this month, covering the full supply chain for Korean cosmetics brands seeking to sell through the e-commerce platform. Shopee, which has about 700 million users, is a leading e-commerce platform in Southeast Asia and Taiwan and has a significant presence in Brazil, according to Hyundai Glovis. The partnership will provide sellers with a single point of contact for domestic cargo pickup, air and sea freight, import and export customs clearance, local regulatory approvals and fulfillment services. Hyundai Glovis said the integrated system is intended to shorten delivery times and reduce the burden on cosmetics companies that have traditionally relied on separate providers for different stages of shipping, often creating bottlen

Alibaba Group’s e-commerce platforms generated an estimated 14.17 trillion won ($10.4 billion) in production across Korea’s economy last year through sales of Korean-registered brands to Chinese consumers, according to research released Monday. The study by Choi Seong-jin, a professor at Hanyang University, examined how the Chinese marketplaces Taobao and Tmall, along with other Alibaba platforms, help Korean companies reach overseas customers and expand domestic business opportunities. Transactions involving Korean-registered brands on Taobao and Tmall totaled about 7.1 trillion won in 2025, while sales attributed to Korea after adjustments for overseas distribution and service margins amounted to about 5.43 trillion won, the research found. The estimated domestic value-added effect was 5.06 trillion won, while related employment was estimated at 42,300 jobs. “Overseas sales of Korean brands through global online platforms can expand export opportunities while creating new demand for domestic industries, including raw-material suppliers, packaging manufacturers and logistics servi

Nongshim is taking Shin Ramyun beyond the instant noodle bowl, teaming up with a celebrated Los Angeles chef to give its signature spicy noodles a fine-dining makeover as the brand marks its 40th anniversary. The Korean food company said it was the only Korean food company participating in the Los Angeles Times’ “101 Best Restaurants in L.A.” event, held from Friday through Saturday at Barker Hangar in Santa Monica, California. The company operated a promotional booth featuring a Korean-inspired tasting lounge, an oversized Shin Ramyun package and anniversary-themed installations designed for photographs. The centerpiece was a pair of dishes developed with Jihee Kim, owner-chef of Perilla LA, a Korean restaurant selected for the Los Angeles Times’ list of the city’s 101 best restaurants for four consecutive years, from 2023 through 2026. One dish, “Shin Ramyun Original with Octopus & Slow-Roasted Tomato,” combines the noodles with octopus, roasted tomatoes and perilla leaves to deepen their savory flavor. The second, “Shin Ramyun Rosé with Burrata & Gim,” pairs the crea

Johnnie Walker, the scotch whisky brand owned by British drinks giant Diageo, has named Rosé of K-pop girl group BLACKPINK as its new brand partner, the company said Monday. The brand will run campaigns celebrating the Grammy-nominated singer’s creativity in Korea, Britain, Indonesia, China and other markets. The partnership kicks off Monday with a brand event at Bar 81 in Signiel Seoul, a luxury hotel in Lotte World Tower, Korea’s tallest building. At the event, Rosé will present her signature cocktail, the “Twist of Something Highball,” made with Johnnie Walker Black Label. The cocktail will later be served at other bars in Seoul, including venues on the Asia’s 50 Best Bars list and bars run by champions of World Class Korea, a Diageo-sponsored bartending competition. Through the partnership, Rosé will add her own style to collaborations exploring new expressions of the brand in culture, design and creativity, the company said. “I’m happy to expand my creative boundaries and try something new that connects different worlds through this collaboration with Johnnie Walker,

Korean burger and chicken chain Mom’s Touch will enter Kazakhstan, expanding its presence in Central Asia after entering Uzbekistan last year, the company said Monday. Mom’s Touch said it signed a master franchise agreement with Mom’s Touch Central Asia LLP, the restaurant arm of Kazakh food company Shin-Line Group. Under such agreements, a local partner gains the rights to open and operate stores and to sub-franchise in a given territory. The two companies aim to open more than 50 stores over the next 10 years. The first store is targeted for the first half of next year. The deal also covers neighboring Kyrgyzstan. Mom’s Touch said it will first establish the brand in Kazakhstan, Central Asia’s largest economy, and then gradually consider entering nearby markets. Founded in 1995, Shin-Line is Central Asia’s top ice cream maker, with a market share of more than 40 percent across the region. It exports to about 10 countries of the Commonwealth of Independent States, a grouping of former Soviet republics, through its own cold-chain logistics network. It also operates more than

Samsung SDI said Monday that its U.S. subsidiary, Samsung SDI America, has signed a 1-gigawatt-hour agreement to supply energy storage systems (ESS) to Alpha Omega Power, a U.S. utility-scale battery storage developer and independent power producer. The latest deal brings the total volume of agreements between the two companies to 1.5 gigawatt-hours, including an initial contract signed late last year. Alpha Omega Power plans to deploy the systems in large-scale power projects aimed at strengthening grid reliability and meeting rising electricity demand. Construction is scheduled to begin next year in the Western Electricity Coordinating Council and Electric Reliability Council of Texas markets. Under the latest agreement, Samsung SDI will supply its Samsung Battery Box 1.7, an integrated ESS equipped with nickel-cobalt-aluminum batteries. All cells and modules will be manufactured at the StarPlus Energy plant in Kokomo, Indiana, with deliveries scheduled to be completed by the end of this year. Samsung Battery Box 1.7 offers 17 percent higher energy density than its predecessor, Samsung

Unionized workers at South Korean steelmaker POSCO will launch an "indefinite" strike next week unless the company makes an acceptable offer in wage negotiations, the union said Monday. The warning came after wage talks between POSCO and the union broke down over the weekend. "Starting at 7 a.m. on Nov. 2, workers in non-core production lines at the company's plants in Pohang and Gwangyang will go on strike, excluding those in the blast furnace, heating and steelmaking lines," union spokesperson Park Chun-su said over the phone. The union remains open to negotiations if the company makes any meaningful new proposals before the strike begins, he said. "If the union launches the planned strike, the company will immediately activate an emergency operational response system and adjust production volumes to minimize the impact on customers and domestic demand industries," POSCO said in a statement. In September, unionized workers at the two plants in southern South Korea staged two rounds of partial strikes, marking the first industrial action by POSCO workers since the company was founded in

Shareholder return policies of Samsung Electronics and SK hynix are gaining market attention ahead of their announcements for third-quarter earnings, as investors see them as a key way to address the mismatch between the chipmakers' record-breaking profits and their sluggish share prices. Samsung Electronics is set to announce its three-month financial results during its earnings call on Thursday, while SK hynix said it will announce its results on its earnings call on Wednesday. Earnings are expected to be exceptionally strong, as surging demand for memory chips and continued supply bottlenecks have driven up average selling prices across the memory chip market. In its earnings guidance released Oct. 8, Samsung Electronics estimated third-quarter revenue of 195 trillion won ($146.96 billion) and operating profit of 107.4 trillion won. If realized, the company will become the first Korean company to surpass 100 trillion won in quarterly operating profit. SK hynix is expected to post 98.23 trillion won in revenue and 76.96 trillion won in operating profit during the same period, according

A man has died after falling from a building while trying to flee a Hong Kong police raid on a suspected drug den in Yau Ma Tei. The 42-year-old man, surnamed Kwong, was found unconscious outside 385-387 Reclamation Street at about 9.28pm on Sunday. He was rushed to Kwong Wah Hospital, where he was pronounced dead, police said on Monday. At 9.21pm, officers from the Organised Crime and Triad Bureau launched an operation at the building, breaking into a flat suspected of operating as a drug...

A 26-year-old warehouse worker has been injured in Hong Kong after being chased by three dogs and bitten by one of them on his way to work. A source said police received a report at around 8am on Monday from the victim, surnamed Leung, saying one of the dogs pounced on him as he was walking towards his workplace at a logistics company in Yuen Long’s Kam Pok Road. Paramedics arrived at the scene and found the victim with minor wounds. He was sent to Pok Oi Hospital for treatment. The source said...

An AI-generated Chinese rap song featuring some of the country’s most well-known historical figures has taken social media by storm. Titled “The One Who’s Been There” (Guo Lai Ren), the track crossed 100 million views across platforms in less than two weeks as it tapped into the anxieties of modern life. The song brings together 10 iconic figures from Chinese history and mythology – from revered poets and statesmen to the legendary Monkey King. Rather than reciting classical verses or lecturing...

An international arbitration body in Hong Kong is exploring business opportunities in the Middle East and Africa, citing the city’s neutrality and predictability as key draws for new markets amid rising geopolitical tensions. Domitille Baizeau, co-chairwoman of the Hong Kong International Arbitration Centre, said the city had benefited from an overall shift in global business growth from Europe to Asia, with overseas businesses increasingly choosing Hong Kong to arbitrate disputes. The...

Long before artificial intelligence became the next big thing in the tech industry, Wang Jian was crafting the foundational infrastructure that would eventually power it. In 2008, he joined Alibaba Group Holding – owner of the South China Morning Post – as chief architect and founded Alibaba Cloud in 2009, convincing the company’s leadership to invest heavily in building a cloud computing infrastructure from scratch. Today, Wang’s purview has expanded considerably. As an academician at the...

China on Sunday marked the 81st anniversary of its recovery of Taiwan and observed Taiwan Recovery Day, with commemorative events held across the Taiwan Strait to honor the shared history of resistance against Japanese aggression and reaffirm calls for national reunification.

Chinese researchers have found that the Yarlung Tsangpo River – soon to host the largest mega dam in the world – may face increased run-off and flood risks over this century. Using tree-ring width chronologies in the southeastern Tibetan Plateau, the team reconstructed the river’s run-off history from 1325 to 2020. Along with climate data, this was used to create a model that projected river run-off would increase under future climate scenarios, along with a possible increase in high-run-off...