Telecom Companies Launch AI Communication System for Chuseok Holiday, Offering Free Video Calls The three major telecommunications companies in South Korea—SK Telecom, KT, and LG Uplus—are implementing a special communication system utilizing artificial intelligence (AI) to prepare for increased communication traffic during the Chuseok holiday. They will also offer free video call services during this period.On September 18, the companies announced that they will operate a situation room from September 24 to 27, coinciding with the Chuseok holiday, to manage the anticipated surge in commun September 18, 2026

Artists Unaware of Proposed Overhaul of Arts Promotion Law “This is essentially creating a new legal framework, yet many are unaware of it. No one knows about this amendment.” The proposed overhaul of the Arts Promotion Law by the government has sparked significant backlash from the cultural and arts community. Despite its potential to greatly impact the sector, the initiative has proceeded without discussions with artists. Critics argue that the policy direction, which treats art as an 'industry,' could stifle basic arts. Hajang-ho, a policy committe September 18, 2026

HD Hyundai Electric Enters European Offshore Wind Market with Transformers and Reactors HD Hyundai Electric has become the first domestic power equipment company to supply transformers and reactors to a European offshore wind farm.On September 17, HD Hyundai Electric announced the departure of a large offshore substation (OSS) via a post on its official LinkedIn account. The post featured images of the 275kV transformers and reactors being installed at the offshore substation as it left the PTSC M&C yard in Vung Tau, Vietnam, heading to the site in the Baltic Sea off Poland.This sh September 18, 2026

Seoul Commercial Real Estate Transactions Reach 2.6 Trillion Won Amid Shift in Deal Dynamics The Seoul commercial and office real estate market is experiencing a shift as the influence of large transactions on overall deal volume has lessened, leading to a more distributed pattern of mid-sized deals. According to a report from AlSquare on September 18, AlSquare Analytics analyzed data from the Ministry of Land, Infrastructure and Transport, revealing that in July, the transaction volume for Seoul's commercial and office real estate reached 2.6272 trillion won, with 184 transactions reco September 18, 2026

Barun and H&H Lawyers Host Seminar on Australian Market Entry and Investment Strategies Barun Law LLC, led by attorneys Lee Dong-hoon, Lee Young-hee, and Kim Do-hyung, announced on September 18 that it co-hosted a seminar with the Australian law firm H&H Lawyers on September 17 at the Barun Building. The seminar focused on 'Entering Australia: Investment and Global Asset Transfer Strategies.'As Korean companies and investors increasingly enter the Australian market, issues such as local corporate establishment, investment structures, foreign investment regulations, real estate inve September 18, 2026

Lotte Card Issues $300 Million in Overseas ABS, Demonstrating Funding Capability Lotte Card has diversified its funding channels by issuing overseas asset-backed securities (ABS). The company announced on September 18 that it has issued $300 million (approximately 404.1 billion won) in overseas ABS. This ABS is backed by credit card receivables. Mitsubishi UFJ Financial Group (MUFG) and Société Générale participated as investors, with an average maturity of 3.5 years. Lotte Card explained that it issued the ABS at competitive interest rates compared to domestic corporate September 18, 2026

Charity Bazaar 'Rise Up' Supports Youth Preparing for Independence Enjoy browsing good items while helping youth preparing for independence. A unique charity bazaar is taking place in the heart of Cheongdam-dong, Seoul. The 'Rise Up Vol.1' charity bazaar features a variety of brands from fashion to beauty, food and beverage, and home goods. 'Rise Up' is a social contribution project personally planned by Yang Ji-hae, CEO of Metro City. The theme of the inaugural event focuses on youth preparing for independence. These young individuals, who have been under September 18, 2026

President Yoon Meets UAE's Khaldoon Al Mubarak to Discuss AI and Defense Cooperation President Yoon Suk Yeol is set to meet Khaldoon Khalifa Al Mubarak, the Chief Executive Officer of the Abu Dhabi Executive Office, on September 18 to discuss ways to enhance practical cooperation between South Korea and the United Arab Emirates (UAE).According to the Blue House, President Yoon will receive Al Mubarak at 2 p.m. at the Blue House. The two leaders will evaluate ongoing collaborations in defense, artificial intelligence (AI), culture, nuclear energy, and space, and discuss future di September 18, 2026

Korean Won Declines Slightly Amid Falling International Oil Prices The won-dollar exchange rate is showing a slight decline.As of 9:22 a.m. on September 18, the exchange rate in the Seoul foreign exchange market is 1380.3 won against the U.S. dollar. The rate at 6 a.m. today was 1381.5 won, down 0.7 won from the previous day's reference rate at 3:30 p.m.This decline is attributed to reduced uncertainty in the financial markets following the Federal Reserve's interest rate hike.The dollar also showed a slight weakening. The dollar index (DXY), which reflects the September 18, 2026

Heavy Rain Expected in Jeju, Strong Winds Advisory On September 18, rain is falling in Jeju, the southern coast of Jeollanam-do, the eastern coast of Gyeongbuk, the northeastern mountains, and in Busan, Ulsan, and Gyeongnam due to easterly winds.According to Yonhap News, Jeju, located at the boundary of cold and warm air, is expected to receive rain at a rate of 20 to 30 mm per hour until the afternoon.The rain is expected to mostly stop by the afternoon.The anticipated rainfall amounts are as follows: 10 to 50 mm in Jeju (excluding the northern September 18, 2026