Korea JoongAng Daily - Daily News from Korea

This article is by Jin Eun-soo and read by an artificial voice. The company is targeting 100 trillion won ($71.5 billion) in sales by 2030, focusing on accelerating its business-to-business (B2B) operations and platform-based services. As part of the restructuring, LG Electronics disbanded its Business Solutions division, which had been responsible for B2B solutions across various sectors including digital signage, EV chargers and IT devices such as laptops and monitors. The company has transfered these individual businesses to other divisions, making the structure more intuitive and solution-oriented. The company's robot cleaner, for example, has been integrated into the Home Appliance Solution division alongside other household products. The laptop and monitor businesses have moved to Media Entertainment Solution, aligning them with the existing TV business and smart TV platform. The company also established a new Eco Solution that will be in charge of the heating, ventilating and air conditioning (HVAC) business. The HVAC business, which LG Electronics considers critical in driving B2B growth, will now be managed separately. The division will also include the EV charger business, a key component of the company's strategy to reach its sales goal in six years. In keeping with its Vision 2030 to become a "smart life solution company," LG has added "solution" to the name of each division. To further enhance B2B capabilities, the company has created a dedicated team within its overseas sales division. It has added the role of AI control tower to its Chief Strategy Office as the company seeks to take the lead in the AI transition. The office has been tasked with setting the direction of future strategies. LG Electronics' executive reshuffle was minimal, with 42 promotions, including the promotion of Kim Young-lak from the domestic sales division to president in recognition of his leadership in transitioning to a subscription model for household products. Throughout its affiliates, LG Group made 121 promotions this year, down from last year's 139. Of these, 86 were executive promotions, also down from last year's 99. The group explained that it "mostly maintained executives with an abundance of experience in their fields considering shifts in the global market and rising uncertainty in the business environment." "Swiftly responding to changes in the external environment and expediting the decision-making process by slimming down the organization and downsizing the number of promotions" were the intentions behind the latest reshuffle, according to LG Group. The conglomerate said 23 percent of the new executive promotions have been made in the fields of AI, bio and clean tech.

This article is by Jin Eun-soo and read by an artificial voice. Top executives from major conglomerates in Korea collectively opposed proposed amendments to the Commercial Act, claiming that they undermine corporate values and competitiveness. Samsung Electronics President Park Seung-hee, SK Group President Lee Hyung-hee and Hyundai Motor Executive Vice President Kim Dong-wook were among 16 executives who gathered Thursday morning to issue the joint statement in a rare collective move indicating the urgency of the matter. "We request that the National Assembly take more care of policies and budgets aimed at reviving Korea's economy instead of making revisions to the Commercial Act and legislating regulations," the statement read. "If the amendments pass, multiple companies will suffer lawsuits and attacks from foreign speculative funds, making it difficult to ensure normal operation of the boards and hindering efforts to discover new growth engines. Ultimately, this could significantly undermine corporate competitiveness, leading to a devaluation of Korean stocks." The Democratic Party has been pushing for revisions to Korea's Commercial Act aimed at expanding the responsibilities of board members, prioritizing shareholder rights and improving corporate governance. One revision would obligate the board to protect the interests of all shareholders and treat them fairly, which is intended to penalize board members if certain business decisions are made for the sake of protecting the interests of the owners, known as chaebols in Korea. Such proposed revisions have received much backlash from Korea's business circle, which claims that it erodes normal business management across the board. "There is a need to revamp the system in order to prevent unintentional harm against minority shareholders that could arise in the process of restructuring a business for efficiency," the statement said. "But an alternative approach is advised, such as revising the Capital Market Act." The chief executives' request comes at a time of maximized uncertainty with a new U.S. administration set to take office amid slow economic growth internally. "We request that the government expedite supportive measures while other countries are waging full-fledged wars in advanced industries in the face of protectionism and not miss a golden opportunity," it said. The leaders promised to leap forward more aggressively. "We will try to find new businesses and create more jobs regardless of external or internal factors," their statement said. "We will focus on pioneering new markets and innovating technology in order to raise our competitiveness in exports and reignite the growth engines of Korea's economy."

This article is by Kim Ji-ye and read by an artificial voice. SINGAPORE - After the success of Disney+'s Moving (2023), the platform is returning with another heartwarming series based on a Kang Full webtoon, titled "Light Shop," which portrays a touching human story with a hint of horror. "Kang Full's works carry an emotion that truly moves people," director Kim Hie-won said during a press conference on Wednesday for the upcoming series, held at Marina Bay Sands in Singapore. "I was deeply moved by it myself, the actors brought their emotion to life in their performances, and I believe it's something I've infused into the project in my own way." Based on the original webtoon, which debuted in 2011, the series follows the mysterious story of a light shop at the end of a dark alley, where customers with hidden secrets visit. The series is set for release on Dec. 4. It features numerous renowned actors, including Ju Ji-hoon as the light shop owner, Park Bo-young, Um Tae-gu, singer and actor Seolhyun, Kim Min-ha and more. The series was written by Kang Full, marking his second collaboration with Disney+ after "Moving," and directed by Kim Hie-won, a well-known actor who also appeared in the webtoonist's previous project. It is Kim's directorial series debut, an experience he described as one that taught him the importance of staying "humble." "To be honest, when I was acting, I think I used to be fueled by my own sense of pride," director Kim said. He then praised the work of the actors while making the series. "But as I kept interpreting the writer's work, I realized how extraordinary the details were and thought that the actors' performances were far better than mine. Also I was deeply impressed by how the staff poured their heart and passion into the project, and I came to truly respect them. It made me think, 'I really need to stay humble.'" He also shared that the first moment of shooting the series was the most unforgettable. As a director, he had to adopt a different perspective when involved in the project. "I was really nervous, and I think I was focused on finding the right balance between what would make the story enjoyable and relatable for the audience," he said. "'Light Shop' is quite a unique drama. So, I had to consider how to make the story relatable to viewers while also ensuring its uniqueness, without making the viewers feel overwhelmed." Despite being Kim's directorial debut, the actors and the screenwriter all praised his talent. "I think that the world of 'Light Shop' is a little complex, but Kim understood the world better than anyone else," Kang Full said. "When telling a story, I really feel that people are at the core of it, and I was truly impressed by the director's deep understanding of the characters and humanity." Ju shared that he had no doubt about the project with director Kim, especially after witnessing the flawless preproduction. He also reflected on his experiences while working with the director as an actor. "When I worked with Kim as an actor, I found it fascinating how he carried a third-person perspective over the whole set, and sure enough, he started directing," Ju said. "Having worked on many projects myself, I personally believe that preproduction is everything, and I was amazed by how thoroughly everything was prepared. On a set with a well-prepared environment and story, I was able to act freely and comfortably." The actors and director praised the series for its vivid portrayal of human emotions, which sets Kang Full's works apart from others and gives audiences much to look forward to. "The series reflects Kang Full's unique love for humanity," Park said. Ju said the upcoming series is one he is proud of, adding, "I personally saw it and found it very interesting. So, I'm happy to recommend it to viewers."

This article is by Cho Jung-woo and read by an artificial voice. Popular hotspots across Seoul are set to shine brightly this winter season as the city government announces its winter festival to begin next month. The Seoul Metropolitan Government on Thursday announced that the annual Seoul Winter Festa will take place from Dec. 13 to Jan. 5 at six iconic locations in central Seoul - Gwanghwamun, Gwanghwamun Square, the Cheonggyecheon, Seoul Plaza, Dongdaemun Design Plaza (DDP) and Bosingak - featuring colorful media facades, light sculptures and lanterns. This year's Winter Festa, themed "Soul Prism" and carrying the slogan "Shine Together," marks the second year the city government consolidated different winter events into a single celebration. The festival will officially begin at 6 p.m. on Dec. 13, with the lighting of the Gwanghwamun area and the Cheonggyecheon, a landmark stream flowing through downtown Seoul. During the opening ceremony, the newly restored woldae - a broad stone platform at the entrance of Gwanghwamun in Jongno District - will be set up as an "arena" where visitors can celebrate the festival's kickoff. The woldae was fully restored last year to how it used to look 100 years ago during the Joseon Dynasty (1392-1910), before it was destroyed during the Japanese colonization of Korea. On Dec. 31, Bosingak will host both the countdown event and the traditional bell-tolling ceremony, starting at 11:35 p.m. As the New Year is welcomed following the bell-tolling ceremony, a 30-meter-diameter sun-shaped structure will rise, celebrating the start of 2025. According to the city government, this year's structure is more than twice the size of last year's. K-pop performances will be held before and after the countdown event. Visitors will also receive LED bracelets controlled remotely by festival organizers, creating an interactive light show as they celebrate the New Year. A simultaneous countdown event will take place at DDP, featuring laser shows and fireworks displays. Gwanghwamun and DDP will also host media facades to illuminate the area. At Gwanghwamun, light installations by artists like David Hartono from Italy, David Hugonot from France and Yim Tae-kyu from Korea will brighten the winter evenings. At DDP, visitors will experience messages of hope through works by artists such as Jean Jullien. Gwanghwamun Square will transform into a Christmas market featuring a 14-meter-tall (46-foot-tall) Christmas tree. The market will bring 141 small merchants to sell their products, according to the city government. A special highlight of this year's Winter Festa is an exhibition of the upcoming season two of the Netflix series "Squid Game" (2021-) at Gwanghwamun Square. Around 500 participants will also march in a 1-kilometer (0.6-mile) parade from Seoul Square to Gwanghwamun, promoting the upcoming Netflix series. Other major attractions include the lantern festival along the Cheonggyecheon, showcasing around 240 light installations and the skating rink opening at Seoul Plaza. Additionally, SeoulCon, a content fair for influencers, will also be held as part of the Winter Festa from Dec. 28 to Jan. 1 around DDP. Some 3,500 teams from 50 countries are anticipated to join the event to show parts of Seoul to their fans.

This article is by Kim Min-young and read by an artificial voice. A hacking incident five years ago in which 58 billion won ($41.5 million) in cryptocurrency was stolen from a South Korean exchange has been confirmed to have been perpetrated by North Korea. The South Korean National Police Agency announced Thursday that North Korean hacker groups Lazarus and Andariel were involved in the theft of 342,000 Ethereum tokens from the cryptocurrency exchange Upbit in November 2019. The stolen assets are now worth 147 billion won. Police deduced that North Korea was behind the theft by analyzing North Korean IP addresses, cryptocurrency transaction records, linguistic traces of North Korean terminology and evidence obtained in cooperation with the U.S. Federal Bureau of Investigation. Although there have been UN reports and statements by foreign governments about North Korea's cryptocurrency-hacking activities, this marks the first time a domestic investigative agency has officially confirmed such involvement. According to police, 57 percent of the stolen assets were traded off for Bitcoin at a price 2.5 percent lower than market price through three exchange sites. These sites are also suspected of being created by North Korea. The rest of the stolen cryptocurrency was laundered through 51 overseas exchanges across 13 countries, including the United States and China. Police were unable to confirm how the stolen 58 billion won was ultimately utilized. Most overseas exchanges reportedly did not respond to requests from South Korean police to return the misappropriated cryptocurrency. However, police confirmed that a portion of the misappropriated cryptocurrency was stored in a cryptocurrency exchange based in Switzerland. After providing evidence to the Swiss prosecution, the police, in cooperation with the prosecution and the Ministry of Justice, pursued mutual legal assistance in criminal matters with Switzerland. Last month, police eventually recovered approximately 4.8 Bitcoin tokens, valued at around 600 million won. The recovered cryptocurrency was then returned to Upbit. While this is the first confirmed instance of North Korea targeting a domestic exchange, its hacking organizations have long been known in the international community for stealing virtual assets. In July, India's largest cryptocurrency exchange suffered over $200 million in damages due to an external attack, with Lazarus identified as the main culprit. Around the same time, a Japanese cryptocurrency exchange lost $35 million in a theft also suspected to have been carried out by Lazarus. According to a report published in March by the UN Security Council Sanctions Committee on North Korea, the state was estimated to have stolen about $3 billion through cyberattacks on cryptocurrency-related businesses from 2017 to 2023, with investigations ongoing into 58 suspected cases. In the past, North Korea secured foreign currency through legitimate means such as exporting overseas labor and trade. However, these avenues have been largely blocked by international sanctions. In addition to Lazarus and Andariel, other well-known North Korean hacking groups include Kimsuky and APT38, all of which are linked to the Reconnaissance General Bureau, North Korea's military intelligence agency. "We will do our best not only in investigating the methods and perpetrators of cyberattacks, but also preventing harm and helping with recovery," said the police.

This article is by Lee Soo-jung and read by an artificial voice. Noise from North Korean loudspeakers potentially harms the health of South Koreans living in border adjacent regions, according to recent mental health survey results released Thursday. Of 102 residents of areas along the inter-Korean border in the city of Gimpo in Gyeonggi, 29 were classified as "high-risk" or "requiring special attention." The city's mental health center conducted a diagnostic survey between Nov. 8 and 14 in three villages in the hamlets of Walgot-myeon and Haseong-myeon. Most of the villagers in their 70s and 80s showed symptoms of sleep disorders, stress and anxiety. Residents of the border areas claimed that noise from the North's loudspeakers had inflicted physical or psychological harm since September - when the North began the loudspeaker broadcast around the clock. "I cannot fall asleep at night because the grotesque loudspeaker noise, which sounds like metal scrapping, plays day and night," one resident said. He added that living as usual is difficult due to the anxiety of not knowing what could happen. An official from Gimpo's health office said the city "plans to provide psychological therapy sessions for the affected residents and help them to receive treatment from psychiatrists if they wish." Gangwha County in Incheon also said its residents were distressed due to the North's anti-South loudspeaker broadcasts. Of 78 residents of Dangsan village located in the hamlet of Songhae-myeon, approximately 10 percent said they have suffered from loudspeaker broadcasts airing sounds of sirens, ghosts and animals, according to an on-site survey conducted earlier this month. Dangsan village is an area that receives the loudest anti-South broadcasts. "The broadcasts usually grow the loudest between 1 a.m. and 5 a.m., giving all 147 households in the village sleep disorders," said Ahn Hyo-chul, 66, a representative from Dangsan village. "Some residents are inevitably taking sleeping pills as the North's broadcasts become noisier daily," Ahn added. The Incheon city government decided to spend 350 million won (about $250,000) to install soundproofing equipment at 35 family homes in Dangsan village. The county office will check the effectiveness of the sound-absorbing equipment at the homes and review any needed improvements. The county office added that it will expand support to loudspeaker-affected households by consulting with the Ministry of the Interior and Safety and the Incheon city government. It believes the North's broadcasts have impacted 22,600 county residents.

This article is by Park Hyun-ju, Lee Yoo-jung, Lim Jeong-won and read by an artificial voice. Russia launched an intercontinental ballistic missile (ICBM) at Ukraine for the first time Thursday, according to media reports. In a statement, the Ukrainian Air Force said a Russian attack on the city of Dnipro using cruise missiles was conducted between 5 and 7 a.m. and targeted enterprises and critical infrastructure, Reuters reported. The ICBM was reportedly launched from Astrakhan, a Russian city near the Caspian Sea. Where it was targeted, what damage it inflicted and what kind of missile was used remains unclear. The Kremlin, when asked about the ICBM launch, said to "refer to the Defense Ministry" without elaborating further. However, the British newspaper The Telegraph reported earlier that the Russian military was preparing to launch an RS-26 ICBM from a military base in Astrakhan toward Kyiv, citing a report by a Russian media outlet. Germany's DPA news agency reported that air raid alerts sounded throughout Ukraine due to the ICBM launch by Russia early Thursday. ICBMs can be equipped with nuclear or conventional warheads and have ranges of thousands of kilometers. The launch comes after Russia responded to recent attacks on its territory with the American-made Army Tactical Missile System (ATACMS) by adjusting its nuclear doctrine to allow the use of nuclear weapons "against non-nuclear states that are supported by nuclear powers. " Russia's decision, which shakes the "balance of terror" maintained since the Cold War, primarily targets the United States, Britain and France, which are established nuclear powers, as well as Ukraine, a non-nuclear state supported by those three nations. Experts say South Korea, an ally of the United States, could also be included on Russia's list of nuclear targets if Seoul provides Kyiv with lethal weapons. Following the ATACMS strike on Tuesday, Ukraine attacked Russian territory using British-supplied Storm Shadow air-to-ground missiles for the first time this week, Bloomberg reported on Wednesday, citing a Western official. The official, who requested anonymity in the Bloomberg report, explained that the British government had approved the use of the Storm Shadow in response to the North Korean military's deployment of troops to Russia. He added that the British government views the North Korean deployment as an escalation of the conflict in Ukraine. The Telegraph also reported that fragments of Storm Shadow missiles were found in the village of Marino in the Kursk region of Russia, citing a Russian military blogger, on Wednesday. Kursk is the area where North Korean troops have been deployed. Britain is believed to have followed suit and authorized the use of the Storm Shadow to attack internationally recognized Russian territory after the United States recently lifted restrictions on the use of ATACMS, with a range of about 300 kilometers (186 miles), on Russian territory. The nuclear doctrine signed by Russian President Vladimir Putin on Tuesday includes a clause that defines an attack by a non-nuclear state supported by a nuclear state as "a joint attack with a nuclear state." This means Russia could target all countries that are allied or cooperating with a nuclear state. In addition to nuclear powers such as the United States, Britain and France that provide weapons to Ukraine, their North Atlantic Treaty Organization (NATO) allies could also be included as nuclear attack targets, depending on the situation. Some point out that even South Korea, an ally of the United States, is a "non-nuclear state receiving support from a nuclear power." The South Korean government has not ruled out providing weapons to Ukraine in response to North Korea's dispatch of troops to Russia. If Ukraine uses weapons provided by South Korea to attack Russia, Moscow could use this as an excuse to make Seoul subject to its nuclear doctrine. At the same time, Russia's nuclear doctrine also says that "i...

This article is by Yim Seung-hye and read by an artificial voice. Historical records say that kings in the Joseon Dynasty (1392-1910) used to have five meals a day. Two of those were called surasang, or royal court cuisine, comprised of rice, soup and side dishes. They typically included grilled or steamed meat or fish, braised dishes, seasoned vegetables and salted seafood. One serving was given in the morning at 10 a.m. and another at 5 p.m. Since the king's health and well-being were directly tied to the nation's safety and stability, it was crucial for the palace chefs, called suksu, to prepare the best dishes with the best seasonal ingredients possible. For this, the Saongwon, or the office of the royal kitchen, is said to have had some 400 culinary staff working at the same time. So, what kinds of dishes went on the king's table? A special exhibition exploring royal court cuisine and the culinary culture of the Joseon Dynasty, including the meals enjoyed by the king, queen and royal family, kicked off on Wednesday at the special exhibition hall on the second floor of the National Palace Museum of Korea in central Seoul. Titled "Royal Court Cuisine: A Table of Respect and Sharing," the exhibition was co-organized by the museum and the Korean Royal Cuisine Culture Foundation. Royal court cuisine represents the pinnacle of traditional Korean cuisine, showcasing its most diverse and exquisite forms. This culinary tradition is also recognized as Intangible Cultural Heritage. The exhibition features over 200 artifacts along with a recreated model of surasang, video materials and various items from the palace kitchen, such as bowls, cooking tools and traditional trays known as soban. Visitors can also see related historical records and royal protocols known as uigwe, which document the banquet scenes and paintings. There is a book on food written by the palace physician, a book of recipes recorded by the palace matron as well as reproductions of full surasang from the days of King Gojong and King Sunjong. The other three meals for the king were not as heavy as surasang. Chefs usually prepared 12 side dishes for King Gojong and King Sunjong's surasang, but seven for most of the other Joseon kings. One of the three lighter meals was served before breakfast in the early morning, with the next given during lunch and the last provided as a late-night snack before bed. These meals consisted of lighter dishes such as porridge and noodles. The types of foods for these lighter meals varied depending on the king's preferences and health. For example, it is recorded that King Sejong enjoyed meat, while King Yeongjo preferred a vegetarian diet. King Yeonsan is said to have favored raw meat. The palace's office of the royal kitchen, the Saongwon, is divided into three departments. The Sojubang prepared everyday meals, the Suragan arranged simple dishes and prepared the royal table and the Saenggwabang handled desserts and confectionaries. The royal chefs were all men during the Joseon Dynasty and female workers in the royal kitchen were only given assistant jobs. Visitors can also witness different types of bowls and plates used in the royal kitchen at the exhibition and also learn about how the royal chefs worked together to prepare not just everyday meals for the king but also ceremonial food for royal ancestral rites and banquet dishes. "At a time when K-Food is drawing global attention, we are delighted to present a meaningful exhibition showcasing the royal court cuisine culture, which represents the origin and pinnacle of K-Food," said Jeong Yong-jae, director of the National Palace Museum of Korea, during a press conference held for the exhibit on Tuesday. The exhibition runs until Feb. 2.

This article is by Cho Yong-jun and read by an artificial voice. CJ CheilJedang will invest 800 billion won ($571 million) the construction of new food manufacturing facilities in the United States and Hungary, the Korean food company said Thursday. The food company selected Dunavarsany, south of the capital city of Budapest, as its European manufacturing hub. It will spend 100 billion won on manufacturing facility, on a 115,000-square-meter (28.4-acre) site, which will produce Bibigo dumplings and later expand to fried chicken. The Hungarian factory will supply Bibigo dumplings across Europe - a food market that grows 30 percent annually. "The company also plans to use Hungary as a base for further expansion into Central and Eastern European countries, including Poland, the Czech Republic and Slovakia, as well as the Balkans," CJ CheilJedang said. CJ CheilJedang will also invest 700 billion won into a new U.S. factory is located in Sioux Falls, South Dakota. Schwan's Company, a food firm CJ CheilJedang acquired in 2018, will operate the facility. Built on a 575,000 square meter site, it will be the largest Asian food manufacturing facility in North America upon its completion in 2027. The U.S. factory will house production lines for the company's Bibigo steamed dumplings and egg rolls, which the company sells to other businesses. "South Dakota was chosen for its central location, robust infrastructure […] and favorable business environment with strong support from local and state governments," CJ CheilJedang said in a press release Thursday. The company has a 42 percent share of the consumer dumpling market in the United States, which Schwan's expects to increase with the completion of the South Dakota factory. It aims to sell more rolls in the country as well. The groundbreaking ceremony took place Nov. 13 with Schwan's CEO Brian Schiegg, South Dakota Gov. Kristi Noem and CJ CheilJedang Food CEO Pak Min-sok in attendance. CJ CheilJedang and Schwan's currently operate 20 food production facilities in the United States. It also operates a production base in Germany, having acquired German frozen food firm Mainfrost in 2018.

This article is by Lim Jeong-won and read by an artificial voice. Ukraine attacked Russian territory using British-supplied Storm Shadow air-to-ground missiles for the first time, Bloomberg reported on Wednesday, citing a Western official. The official, who requested anonymity in the Bloomberg report, explained that the British government had approved the use of the Storm Shadow in response to the North Korean military's deployment of troops to Russia. He added that the British government views the North Korean deployment as an escalation of the conflict in Ukraine. The British daily newspaper The Telegraph also reported that fragments of Storm Shadow missiles were found in the village of Marino in the Kursk region of Russia, citing a Russian military blogger, on Wednesday. Kursk is the area where North Korean troops have been deployed. Britain is believed to have followed suit and authorized the use of the Storm Shadow to attack internationally recognized Russian territory after the United States recently lifted restrictions on the use of American-made Army Tactical Missile System (ATACMS), tactical ballistic missiles with a range of about 300 kilometers (186 miles), on Russian territory. British Prime Minister Keir Starmer, who attended the G20 summit in Rio de Janeiro, Brazil, said on Monday that "we must strengthen support for Ukraine" and that "we cannot allow Russian President Vladimir Putin to win." A source told the Financial Times that discussions about using the Storm Shadow took place during informal talks between Western leaders and officials during the G20 summit. The British Prime Minister's Office and the Defense and Foreign Offices refuse to comment on Ukraine's use of the Storm Shadow, citing operational security. The BBC reported that the British cabinet was careful not to appear to have taken the lead in using the Storm Shadow for fear of a strong Russian backlash. British Defense Secretary John Healy said in Parliament on Wednesday that Ukraine's actions on the battlefield "speak for themselves," without making any other comments concerning Ukraine. Britain has reportedly been more proactive than the United States in lifting restrictions on Ukraine's use of long-range missiles. On Tuesday, Ukraine fired six ATACMS missiles for the first time toward Bryansk, a Russian region that borders Ukraine. The Storm Shadow, jointly developed by Britain and France, is an air-to-ground cruise missile with an operational radius of 250 kilometers. It is considered a powerful weapon for penetrating enemy bunkers and ammunition depots. The BBC pointed out that since Ukraine is unlikely to possess many Storm Shadow missiles, Kyiv must have chosen its targets carefully. It also said the use of Storm Shadow is unlikely to make a big difference on the battlefield because the authorization for their use came too late. Ukraine had long requested the use of Western-made long-range missiles on Russian territory. In the meantime, Russia reportedly moved its bombers, missiles and infrastructure far from the Ukrainian border and out of the Storm Shadow's range.

This article is by Kim Ji-ye and read by an artificial voice. SINGAPORE - The Walt Disney Company has teamed up with talented creators from Korea and beyond once again to bring tales that captivate hearts across generations as it celebrates four years of crafting original stories in the Asia-Pacific (APAC) region. "As we embark on our fourth year into local content production, we will build our global foundation by delivering new stories from APAC - stories that have enduring and global resonance," Luke Kang, the president of The Walt Disney Company Asia Pacific, said Wednesday during the 2024 Disney APAC Content Showcase. The event kicked off on Wednesday at Marina Bay Sands in Singapore and will run for two days, concluding on Thursday. The global content company began creating original works with local APAC creators in 2021 and has since released over 100 pieces of original content, including Korea's "Moving" (2023) and Japan's "Shogun," from the region. Though it has been less than half a decade, the global industry has recognized the importance of APAC creators, referring to the region as the "central" focus of its content strategy and a "key component" of Disney+'s portfolio. "When I look around the world, there's no region that makes me more excited - a region with rich stories to uncover, a deep pool of talent and an undeniable passion for great storytelling," Dana Walden, the co-chairman of Disney Entertainment, said during the press showcase. "I've been so impressed by our world-class APAC originals." During the showcase, the company unveiled its upcoming lineup from its array of studios, including Disney, 20th Century Studios, Searchlight Pictures, Walt Disney Animation Studios, Pixar, Lucasfilm and Marvel, offering plenty for audiences to anticipate. It announced films such as Disney's "Mufasa: The Lion King" and "Snow White," Walt Disney Animation Studios' "Moana 2" and "Zootopia 2," Pixar's "Hoppers," Lucasfilm's "The Mandalorian and Grogu," and Marvel Studios' "The Fantastic Four: First Steps," "Thunderbolts*" and "Captain America: Brave New World." Marvel Studios' President Kevin Feige appeared in a live video call with the press, sharing behind-the-scenes insights and thoughts about upcoming Marvel films. While teasing the new films, he was discreet about the asterisk in "Thunderbolts*," saying the reason behind the unexpected punctuation "will be revealed at some point during the movie." Anthony Mackie, who plays the new Captain America and stars in "Captain America: Brave New World," appeared in person to discuss the film and his role. The new movie is set for release in February 2025. The actor shared that his take on Captain America differs in action from the original, relying more on "wit than fists" and "his brain than brawn." "Well, I don't have the serum. It's very different," Mackie said. "If you have the serum, you can fight anybody, and you don't have to worry about anything. But when you don't have the serum, you have to be smart and kind of engineer different ways of defeating them." With numerous Disney projects, including those from APAC, in production and set for release, Kang shared his vision for the company. "We are bringing new stories and new worlds to everyone every day, creating memories that will last generations."

This article is by Cho Yong-jun and read by an artificial voice. Hyundai Motor has unveiled its flagship EV, the Ioniq 9 - a three-row SUV with a design inspired by "Doctor Who" that also taps into Korean heritage. "We wanted to create the Ioniq 9 as something that's less daunting; it doesn't look and feel so huge on the outside, but when you get inside, you realize it is big," Head of Hyundai Global Design Center and Hyundai Motor Group Vice President Simon Loasby told the Korea JoongAng Daily during a media preview event for the Ioniq 9 held in Los Angeles in November. The Ioniq 9 was officially unveiled at the premier event held in Los Angeles, California on Wednesday and will headline the Hyundai Motor booth at the upcoming LA Auto Show. It will first hit the Korean market in early 2025 before launching in other regions including the United States and Europe. The new EV will be built at Hyundai's Georgia Metaplant, which started production of the Ioniq 5 in October. Muñoz was named Hyundai Motor's first non-Korean CEO on Nov. 15, and will start the job on Jan. 1, 2025. While not as squared off as the ioniq 5, the Ioniq 9 features similar pixel-inspired headlamps that generated excitement to many for a perceived 80s retro vibe. The British designer, however, said the motif dates back further than that. "You can say that it's a 600-year-old design language," Loasby said, explaining that the pixelated concept can be dated back to the creation of hangul as an alphabet that features squared-off shapes. "But it doesn't look old-fashioned or historical," he added. The squared-off pixel design, which is also shared by the company's hydrogen-powered concept SUV, the Initium, appeals to all generations, according to the head designer. Loasby said while he had his first encounter with pixels in the 70s video game Pong, the younger generation links the design language to their smartphones or games like Roblox and Minecraft. Another Korean-heritage inspired design was the car's " hanbok line": a single diagonal crease running down the second-row door panel that was inspired by the diagonal collar line seen on typical versions of the traditional Korean garment. The British designer was also inspired by Tardis - a fictional time machine from the renowned BBC TV series "Doctor Who" - in the Ioniq 9 concept: bigger on the inside than it is on the outside. This is because the Ioniq 9 - despite the likely classification of midsize SUV in the United States - is Hyundai's largest SUV so far that will be perceived as a big vehicle in both Korea and In Europe. While not considered "huge" in the United States, it was designed as a "big car for big families and a big amount of space" around the world, according to Loasby. The Ioniq 9 is sized at 5,060 millimeters (199 inches) in length, 1,980 millimeters in width and boasts a wheelbase of over 3 meters at 3,130 millimeters, larger than the three-row petrol and diesel-powered SUV Palisade and Kia's three-row SUV EV9. The car is also equipped with a 110.3 kilowatt-hour next-generation battery from SK On, giving it an estimated range of 532 kilometers (330 miles) for the rear-wheel drive model. And the Ioniq 9, indeed, felt roomy on the inside, with six or seven seats available depending on the spec. The six-seater version, which features independent rear seats, felt particularly comfortable as the top-of-the-line Caligraphy trim offers electronically controlled second-row seats that provide seat massaging, leg support, generous recline and are heated and ventilated. The third-row seats also felt adequate for most adults, offering fairly decent legroom for passengers under 5 foot 11 and roomy headroom for most. Both the second and third rows feature cup holders and USB-C charging of up to 100 watts, enough to fast-charge a MacBook. Similar to the EV9, the Ioniq 9 has optional rotating second-row seats, providing better accessibility when installing booster seats. The second-row seats can al...

Read what today holds in store for you under the 12 signs of the zodiac, each represented by an animal. Our astrologer Cho Ku-moon explores saju (the four pillars of destiny) and geomancy for your prospects on wealth, health and love while offering advice on the direction of your luck and fortune. Thursday, Nov. 21, 2024 (Oct. 21 on the lunar calendar) Rat Wealth: average Health: good Love: encountering Lucky direction: south 1936: May spend money pleasantly. 1948: A welcome meeting may occur. 1960: Communication with others may flow well. 1972: New opportunities or information may arise. 1984: Possible new appointment or contract. 1996: Meeting with friends or a date. Ox Wealth: average Health: good Love: joyous Lucky direction: south 1937: Blood is thicker than water. 1949: There is always something to learn, even with age. 1961: Expect positive results in ongoing tasks. 1973: May face joyful dilemmas. 1985: Could receive a favorable proposal. 1997: May have meaningful interactions with seniors. Tiger Wealth: fair Health: fair Love: generous Lucky direction: northwest 1938: Assign responsibilities to the right person. 1950: Giving kindness brings blessings in return. 1962: Be accommodating and understanding. 1974: Sometimes it's better to take a small loss. 1986: Appreciate the beauty of patience. 1998: Focus on your physical appearance and fitness. Rabbit Wealth: fair Health: fair Love: generous Lucky direction: north 1939: Nothing especially good or bad. 1951: Take a warm bath for your health. 1963: There are both pros and cons. 1975: Think thoroughly before deciding. 1987: It isn't over until it's truly over. 1999: Dive into reading humanities books. Dragon Wealth: average Health: good Love: joyful Lucky direction: west 1940: Say what you want to say. 1952: Be proactive, not passive. 1964: Don't put off today's tasks for tomorrow. 1976: A day for progress over setbacks. 1988: You may be blessed with food. 2000: Pleasant meetings or news may arrive. Snake Wealth: fair Health: fair Love: jealous Lucky direction: north 1941: Avoid eating cold food. 1953: A tree with many branches always sways in the wind. 1965: What the right hand does, the left should not know. 1977: Remain neutral on both sides. 1989: Aim for average; no need for perfection. 2001: Be humble and avoid showing off. Horse Wealth: good Health: strong Love: united Lucky direction: south 1942: Two is better than one, and three is even better. 1954: Everything may seem satisfactory today. 1966: Save even a little to make it bigger. 1978: Your influence and authority may grow. 1990: You may feel confident from head to toe. 2002: A sense of unity between you and others. Sheep Wealth: average Health: good Love: joyous Lucky direction: west 1943: You may receive filial respect or praise. 1955: Might receive a gift or hospitality. 1967: Communication will flow and work may gain momentum. 1979: Efforts will be rewarded. 1991: Promising offers or information may come your way. 2003: Embrace challenges and have an adventurous spirit. Monkey Wealth: spending Health: cautious Love: frustrating Lucky direction: north 1944: Avoid crowded places. 1956: Avoid interfering or taking initiative. 1968: Avoid both being bossy or showing submissive behaviors. 1980: Avoid disrespecting seniors. 1992: Keep things quiet. 2004: Use kind, considerate words. Rooster Wealth: spending Health: cautious Love: frustrating Lucky direction: west 1945: See a doctor immediately if unwell. 1957: Reality may differ from plans. 1969: Watch and wait; don't get involved. 1981: Neither solicit favors nor accept them. 1993: Hard work may not bring praise. 2005: Dreams and reality can differ. Dog Wealth: average Health: good Love: happy Lucky direction: east 1946: Lady Luck may be on your side. 1958: Enjoy the rewards of raising children. 1970: You may achieve your goals and feel accomplished. 1982: Live life with a positive mindset. 1994: Savor small but certain joys. 2006: A day filled wi...

This article is by Sarah Kim and read by an artificial voice. Ukraine fired six U.S.-supplied long-range missiles at Russia's southwestern Bryansk region, Moscow's Defense Ministry said Tuesday. This marks the first reported use of the American-made Army Tactical Missile System, known as ATACMS, within Russia, and comes as Russian President Vladimir Putin earlier Tuesday formally lowered Moscow's threshold for the use of nuclear weapons. Russia's Defense Ministry said in a statement that Ukraine's military used six ATACMS to strike a facility in the Bryansk region at 3:25 a.m. Moscow claimed that five of the missiles were shot down and another was damaged. It said that fragments led to a fire at a military facility, but there were no casualties or damages. Senior U.S. and Ukrainian officials confirmed that the Ukrainian military used the missiles to strike into Russia for the first time, reported the New York Times Tuesday. The report said that the predawn attack struck an ammunition depot in Bryansk, citing Ukrainian officials. U.S. President Joe Biden on Sunday authorized the first such use of ATACMS by Kyiv, likely in response to North Korean troops joining Russia's war on Ukraine. In response, Putin on Tuesday approved of lowering the bar for a nuclear strike in response to a broader range of conventional attacks. Russia's updated nuclear doctrine reflects that an attack from a nonnuclear state, if backed by a nuclear power, will be treated as a joint attack on Russia. He added that the use of nuclear weapons would be a "last resort measure." The U.S. government informed the South Korean government in advance of its decision to allow Ukraine to use U.S.-supplied ATACMS for strikes inside Russia, Seoul's presidential office said Monday. When asked whether Washington had shared information ahead of its authorization for the use of the missile system, a senior presidential official told reporters on the margins of the G20 summit in Rio de Janeiro, Brazil, on Monday, that Seoul has been "notified of the U.S. decision." The surface-to-surface ballistic missiles, fueled by solid rocket propellant, are manufactured by Lockheed Martin and have a range of approximately 300 kilometers (186 miles). The presidential official said that South Korea has made no decision regarding providing lethal arms to Ukraine, though President Yoon Suk Yeol has previously indicated that Seoul could consider the possibility depending on the development of military ties between Pyongyang and Moscow. Kyiv's missile strike came as Russia's war on Ukraine marked its 1,000th day, and shows a significant shift in policy from the outgoing Biden administration before U.S. President-elect Donald Trump takes office in two months. Trump, in turn, signaled during his campaign that he was keen on swiftly ending the war, prompting concerns from NATO countries that this could lead to significant Ukrainian concessions. Russian Foreign Minister Sergei Lavrov, who attended the G20 summit instead of Putin, told reporters in Rio de Janeiro Tuesday that Ukraine's "multiple use of ATACMS in the Bryansk region last night signals a desire for escalation," adding that utilizing such "sophisticated missiles without American involvement is unfeasible." The U.S. embassy in Kyiv, in turn, temporarily shuttered its doors after being warned on Wednesday of a "potential significant air attack" after Russia vowed to respond after Ukraine's missile strike. The embassy said in a statement that "out of an abundance of caution," its doors will be closed and staff have been instructed to shelter in place, while recommending U.S. nationals to "be prepared to immediately shelter in the event an air alert is announced." South Korea's National Intelligence Service (NIS) briefed lawmakers on the situation regarding Ukraine's missile launch on Russia on Wednesday, and Democratic Party Rep. Park Sun-won told reporters afterward that Putin's revision of his country's nuclear doctrine "sends a...

This article is by Michael Lee and read by an artificial voice. South Korea's National Intelligence Service (NIS) told the country's lawmakers on Wednesday that some North Korean troops have been assigned to a Russian airborne brigade and naval infantry unit and begun participating in combat against Ukrainian forces. In a closed-door briefing to the National Assembly's Intelligence Committee, officials from the NIS said they believe approximately 11,000 North Korean soldiers were transferred to the Kursk region in western Russia in late October after completing "adjustment training," according to People Power Party (PPP) Rep. Lee Seong-kweun and Democratic Party Rep. Park Sun-won. The NIS officials told lawmakers the North Korean troops are receiving training in anti-drone tactics from their Russian counterparts and that some have already participated in battle. According to information recently released by South Korean, U.S. and Ukrainian officials, the North's troops have been deployed to the Kursk region, where Ukrainian forces launched a counter-invasion in August to divert Russian military manpower from eastern Ukraine. NIS officials also told lawmakers some North Korean soldiers may have already been killed or injured while fighting, adding that the NIS is currently analyzing combat circumstances, Russian strategies involving the North's troops and the number of casualties incurred. Pentagon spokesperson Sabrina Singh said in Washington on Tuesday that Russian casualties currently average around 1,200 a day but did not provide a number for dead or injured North Korean soldiers. Singh also said the United States views North Korea as cobelligerents with Russia. The NIS noted that recent media reports on North Korean soldiers being killed or taken prisoner appear to conflict with each other or with official assessments thus far, adding that the agency is currently conducting its own analyses. The arms shipped by Pyongyang include not only missiles, but also 170-millimeter (6.69-inch) self-propelled artillery systems and 240-millimeter multiple rocket launchers, according to the NIS. PPP Rep. Kang Dae-sik said last month that North Korea is running its munitions factories at full capacity to support Russia, citing a report by South Korea's Defense Ministry. The report estimated that the North had delivered 20,000 containers likely filled with munitions to Russia via the northeastern port city of Rajin since the shipments were first detected via satellite reconnaissance last year. If completely filled, the containers could hold up to 9.4 million 152-millimeter shells, the report said. Of the 200 munitions factories presumed to be in North Korea, the report said the North appears to be operating those that produce weapons bound for Russia at "full capacity." According to the NIS, Choe Son-hui, North Korea's foreign minister, may have held "very important" talks with Russian President Vladimir Putin on "sensitive" issues during her visit to Moscow earlier this month, which highlighted deepening ties between the two countries. The NIS also noted that North Korean leader Kim Jong-un may visit Russia, but did not specify further.

This article is by Kim Ju-yeon and read by an artificial voice. [NEWS IN FOCUS] A recent surge in Korean tourists booking flights or travel packages to China on the back of a surprise visa exemption by Beijing could face a stall amid reports of denied entry and strict itinerary requirements. While reservations for travel to the neighboring country have spiked in Korea since the exemption announcement early this month, the reports of complications threaten to dampen the uptick in demand. The Chinese Embassy in Seoul put out a statement on Tuesday cautioning passengers to clearly state the purpose of their visit when going through immigration. Boomers hike mountains, MZs go to Shanghai Disneyland Major travel agencies, e-commerce platforms and flight booking sites saw an immediate rise in reservations for Chinese travel packages and flights after the policy was announced on Nov. 1. It took effect from Nov. 8 and is set to end in December of next year. Reservations on China-bound routes departing from Korea booked between Nov. 2 to Nov. 8 were up 100 percent compared to the amount booked the week before the announcement, according to Trip.com. Online marketplace Interpark Triple said 61 percent more customers reserved Chinese travel packages in early November compared to the same period in October, with the total number of packages booked rising by 91 percent. The uptick in numbers is highly attributed by industry sources to the convenience that comes with the no-visa policy. Chinese travel visas notoriously demanded excessively personal information such as academic backgrounds as well as the occupations and ages of parents and spouses. Private companies would charge, at minimum, around 100,000 won ($72) for visa agency services. "The demand in China-bound tourism first spiked after April, when a rule that required tourists to submit physical copies of their passports was abolished," said Lee Yoon-woo, a spokesperson for Mode Tour. "There was then a plateau after demand stabilized, but the recent policy exempting Koreans from visas boosted demand once again," he said. With more Korean tourists turning their sights on the Chinese mainland following the announcement, travel service providers have been scrambling to offer the best deals. Travel agencies are especially expanding their packages tailored for younger people, among whom demand for Chinese tourism - typically sought out by middle-aged and older people - has increased. Mode Tour, for instance, is expanding packages to involve flexible schedules that cater to younger travelers' preferences for exploring sites in their own time, as well as increasing the number of packages for city destinations. While older people generally seek nature-based packages for destinations such as Mount Paektu and Zhangjiajie with its sandstone columns, younger people tend to like urban areas like Beijing and Shanghai, according to the agency's spokesperson. Gmarket on Tuesday launched a sale for its Chinese travel packages for popular destinations, all with their own themes, such as one named "Waterparks at Hainan" and another titled "Shanghai enjoyed with Disneyland." The company said it would continue discounts for its Chinese travel services as it expects steady demand. "Chinese tourism is characterized by its short travel distance [from Korea] and accessibility, and we expect a lot of customers seeking an easygoing trip to China due to the visa exemption policy," a spokesperson said in a news release. Concerns linger over passport control Despite the visa exemption policy, some China-bound travelers have experienced difficulties with immigration, leading to travel agencies setting up measures to assist with better documentation preparation and emergency situations, while the Chinese Embassy issued a cautionary notice on the very issue. A Korean traveler was denied entry into China on Nov. 15, according to Beijing's mission in Seoul on Tuesday. The passenger had been diagnosed with tube...

This article is by Lee Jae-lim and read by an artificial voice. IBM's circuit-based commercial quantum computer, which became operational on Wednesday at Yonsei University's campus in Songdo, Incheon, aims to leverage qubits to make medical treatments cheaper. Yonsei's researchers hope that the Quantum System One, powered by a 127-qubit processor, will cut the cost of life-saving drugs by orders of magnitude. "R&D [research and development] that goes into biotech can be painfully expensive, and unlike other industrial sectors, it is one where initial cost does not always translate into profitability," Cheong Jae-ho, head of Yonsei's quantum computing project team, said at a press event commemorating the deployment of the Quantum System One at the Songdo campus on Wednesday. Pfizer's Beqvez, for example, is reportedly listed at $3.5 million in the United States prior to insurance and other rebates. "With quantum technology, we could potentially reduce the cost to around $300,000 or even $30,000," Cheong said of the hemophilia B gene therapy that the U.S. Food and Drug Administration greenlit in April. The computer can achieve this, Cheong said, by better simulating molecules to help researchers target the proteins associated with specific diseases and find compounds that can regulate their functions. Chip giant Nvidia has also made forays into the space. "These compounds may include antibodies, proteins, or small molecules," Cheong said. "The process of discovering and optimizing these substances is highly calculation-intensive, making quantum computing a powerful tool in this area." The university plans to dedicate a full research team to the computer, which will partner with domestic firms from the consultation to implementation stages as they implement quantum technology in their respective sectors. Quantum computers can solve highly complex calculations much faster and with greater precision than traditional computers. Unlike classical computers, which process bits that represent either zero or one, quantum computers use qubits that can exist in a superposition of both zero and one simultaneously. This unique property allows qubits to represent multiple states at once, enabling quantum computers to perform parallel processing and significantly boost computational efficiency. Yonsei University has exclusive rights to fully utilize the IBM processor and is paying IBM an annual licensing fee for its use. With the quantum computer in operation, Yonsei University is currently constructing a quantum complex, consisting of a quantum computing center and R&D facility on the Songdo campus, which is scheduled to open in March 2025. Multiple bio firms and medical facilities, including Samsung Biologics and Celltrion, are headquartered in Incheon.

This article is by Cho Jung-woo, Kim Seo-won and read by an artificial voice. Labor unionists and farmers' groups held a large-scale rally in downtown Seoul on Wednesday, criticizing the Yoon Suk Yeol government and demanding the president's resignation. The demonstration - organized by the Korean Confederation of Trade Unions (KCTU) and the National Farmer's Federation - took place in front of Sungnyemun in Jung District, central Seoul. Protesters condemned the government's inaction amid ongoing inflation and falling rice prices, referring to it as poor management. "Despite facing a climate crisis where crops are destroyed by heavy rain and rice yields suffer from extreme heat, the government has done nothing," one of the leaders of the Korean Women Peasants Association said during the rally. Yang Kyung-soo, the head of the KCTU, further criticized the government, saying that the Yoon administration "shows no interest in the lives of laborers and farmers." According to the organizers, around 10,000 union members participated in the rally. Police estimated the figure to be at around 6,000. Protesters occupied all lanes of the road leading to Sungnyemun from Sejong-daero during the event. At least 6,600 police officers were dispatched in case of possible physical clashes. The event included smaller rallies at five locations across Jung District, starting around 12:30 p.m., before participants gathered for the main demonstration at 3 p.m. After the rally, protesters marched toward Seoul Station, about 1 kilometer (0.6 miles) from Sungnyemun. The march was shorter than anticipated, as the event was scheduled to conclude by 5 p.m. The weekday demonstration disrupted the lives of many nearby office workers. "I had to wear earphones at work because the noise was so loud," said a 30-year-old office worker at a company near the rally's stage. "I'm also worried that traffic will be heavy after work." Wednesday's rally took place less than two weeks after the KCTU held a large-scale protest in downtown Seoul on Nov. 9. The event drew some 30,000 participants, according to police. Unlike the earlier protest, Wednesday's event concluded without clashes between protesters and the police. During the previous rally, 11 individuals were detained at the site for allegedly obstructing official duties. According to police, protesters assaulted officers, occupied Sejong-daero for hours and ignored orders to disperse. Prosecutors sought arrest warrants for four of the 11 detained individuals, but all requests were rejected by the court last week. Ahead of the rally, Kim Bong-sik, commissioner of the Seoul Metropolitan Police Agency, warned on Monday against illegal activities during large-scale demonstrations. The KCTU has announced plans to hold another rally on Dec. 7.

This article is by Shin Ha-nee and read by an artificial voice. The International Monetary Fund (IMF) is now projecting the Korean economy to grow 2.2 percent this year and 2 percent next year, lowering both of its previous forecasts. Warning of downside risks amid persisting uncertainties, it urged structural reform for Korea to address slowing growth potential and a shrinking population. "Growth is expected to reach 2.2 percent in 2024, supported by strong semiconductor exports while partially offset by a weak recovery of domestic demand," said Rahul Anand, IMF mission chief for Korea, during a press conference in central Seoul on Wednesday. While noting that Korea's inflation is projected to remain close to the 2 percent target range next year, Anand stressed that "uncertainties around the outlook remain high and the risks are tilted to the downside." Under Article IV of the Article of Agreement, the IMF annually dispatches its mission staff to monitor member countries' economies. The IMF Article IV delegation, led by Anand, visited Korea from Nov. 7 to Wednesday for its annual consultation. In its end-of-mission press release, the IMF projected Korea's economy to grow 2.2 percent this year, lower than its prior forecast of 2.5 percent, and 2 percent next year, also down from the previously-expected 2.2 percent. "Strong economic fundamentals and sound macroeconomic policies have helped the Korean economy navigate through multiple global shocks in recent years," Anand told the local press. "In recent years, economic growth has recovered, inflation has steadily declined and financial stability risks have decreased." The IMF identified Korea's rapidly aging population as its key mid-term challenge, calling for structural reform to address the low productivity. "Comprehensive reforms are needed to tackle the declining labor force, including through alleviating economic constraints that hold back Korea's fertility rate, increasing female labor force participation and attracting foreign work talent," said Anand. The government's budget proposal for next year, which prioritized fiscal soundness, is "appropriate," noted the mission chief, but added that "more ambitious consolidation will be needed to create the space to meet significant long-term spending pressures." Anand also stressed that the authorities' "foreign exchange intervention should remain limited to preventing disorderly market situations."

Lotte Department Store's "Christmas Market" opens in the square behind Lotte World Mall and Lotte Tower on Wednesday. The event, running under the theme "Wonderful Showtime" through Jan. 5 of next year, features 41 booths and shops from such brands as Wooderful Life, which offers products made from sustainable wood, and housewares store Room Copenhagen along with various food options. The market also features a Christmas tree and carousel that is free to ride for anyone with a ticket, which costs 2,000 won ($1.44), along with an ice rink decorated by fashion brand Chanel. Shinsegae Department Store is also getting into the festive mood as it continues its tradition of illuminating the facade of its flagship store in Jung District, central Seoul, with Christmas-themed imagery. The exterior of the building is covered in a 1,292-square-meter (13,907-square-foott) digital screen - the size of three basketball courts - and is a popular attraction around this time of year, with the city's real-time data detecting a crowd of around 40,000 in the Myeong-dong Special Tourist Zone as the videos started at 6 p.m. on Nov. 9 and 10.