AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Law Firm Hwa Woo Publishes Asset Succession Guide to Prevent Family Estrangement
    Law Firm Hwa Woo Publishes Asset Succession Guide to Prevent Family Estrangement Law Firm Hwa Woo, led by Managing Partner Lee Myung-soo, announced on August 21 the publication of a practical asset succession guide titled "Preventing Family Estrangement" in response to the growing trend of significant assets being passed down to the next generation.According to the Statistics Korea's provisional 2025 birth and death statistics, the number of deaths last year increased by 1.3% compared to the previous year, with a rise in fatalities among those aged 90 and above, as well as in their 70s, while the number of deaths in those under 60 generally decreased. As the proportion of elderly deaths rises rapidly, inheritance has become a pressing issue that nearly all families will face, rather than just a concern for a select few wealthy individuals."Preventing Family Estrangement" serves as an introductory guide covering a wide range of topics related to asset succession, including inheritance, gifting, and trusts, designed to be easily understood by anyone. Co-authored by attorney Yang So-ra, a specialist in inheritance and trusts who has handled numerous cases involving wealthy families and financial institutions, along with Baek Jeong-sik and Park Hyun-jeong, senior experts at Hwa Woo's Asset Management Center, the book aims to provide practical insights.The book explores various issues that families face today, from basic tools like statutory inheritance and wills to asset management using trusts, global inheritance, business succession, insurance claims trusts, dementia-related asset management, and retirement planning for single-person households.Rather than advocating for specific systems as the only solutions, the book explains optimal choices tailored to family assets, relationships, and circumstances, using real-life examples. It clearly distinguishes when wills and trusts are necessary and provides practical guidelines from pre-inheritance preparations to post-inheritance procedures.For parents approaching inheritance, the book offers guidance on how to leave their wishes clearly, while advising children on when and how to prepare for their parents' retirement and inheritance. It goes beyond merely passing on wealth, showing how to manage the legacy to maintain family harmony.Attorney Yang So-ra, head of the Asset Dispute Team and Family Litigation Team at Hwa Woo, is an expert who has handled numerous inheritance-related lawsuits and consultations for owners of publicly traded companies and high-net-worth individuals. Co-authors Baek Jeong-sik and Park Hyun-jeong are also leading trust practitioners in South Korea, having conducted tens of thousands of client consultations in the financial sector, providing them with deep insights into inheritance practices.Yang stated, "This new book is a practical guide for beginners feeling overwhelmed by inheritance, trusts, and estate management. I hope readers recognize the importance of estate management through various examples and make informed decisions."Baek and Park also added, "We recommend this book to parents and children seeking smooth asset succession without inheritance disputes, as well as professionals in the related industry, to help protect their own and their families' assets."Lee Myung-soo, managing partner of Hwa Woo, remarked, "Inheritance is no longer an issue for a select few wealthy individuals; it has become a reality that all families in our society must confront. Through the publication of this asset succession guide, Hwa Woo aims to provide practical assistance to clients in preserving their assets and relationships across generations."Meanwhile, Hwa Woo's Asset Management Center continues to release practical guides, following the publication of "The Art of Inheritance" in 2015 and "Inheritance and Gifting in One Volume" in 2025, with "Preventing Family Estrangement" being the latest addition. The new book is available for purchase at major online and offline bookstores.Founded in 2003, Law Firm Hwa Woo is one of South Korea's leading full-service law firms, providing a wide range of legal services with nearly 600 professionals offering insightful legal solutions to respond to rapidly changing industrial structures and policy shifts.* This article has been translated by AI. 2026-08-21 10:24:00
  • Kim Min-seok Responds to Internal Discontent Over Youth Committee Appointment
    Kim Min-seok Responds to Internal Discontent Over Youth Committee Appointment Kim Min-seok, the leader of the Democratic Party, stated on August 21 that he would consider incorporating the need for an elected youth committee member at the next party convention in response to internal controversies surrounding the recent appointment of a youth committee member. He emphasized, "I will attempt to make this change, even if it requires amendments."During a Supreme Council meeting in Gangneung, Kim remarked, "It would have been ideal to reflect youth representation among the five elected members, similar to the inclusion of women, but it was not feasible under the circumstances." This statement comes amid tensions between factions within the party regarding the introduction of an elected youth committee position. The pro-Lee Jae-myung faction advocated for an elected youth committee member, while the pro-Jung Cheong-rae faction opposed sudden changes to the rules.Previously, Choi Min-hee, the chief supreme council member, expressed her surprise on Facebook after Kim appointed re-elected lawmaker Jeon Yong-ki as the youth committee member during a parliamentary meeting. She criticized the lack of prior consultation with the supreme council, stating, "How can a decision be made properly if the list of nominees is suddenly revealed in a parliamentary meeting without any minimum consultation?"Choi further pointed out that during the party convention, Kim and the other two candidates had publicly promised to appoint a youth member to the committee and to conduct elections for the position. She questioned how the party could expect to gain support from the 2030 generation while failing to uphold even this public commitment.* This article has been translated by AI. 2026-08-21 10:20:00
  • ZEEKR Opens ZEEKR 7X Popup Store at Starfield Hanam
    ZEEKR Opens 'ZEEKR 7X Popup Store' at Starfield Hanam ZEEKR announced on August 21 that it will operate a popup store at Starfield Hanam to promote the competitive features of its mid-size electric SUV, the ZEEKR 7X.Running from today until August 25, the popup store is located in the Central Atrium of Starfield Hanam and is themed 'Urban Life & Family Life.' It aims to showcase the brand's luxury technology experience and the distinctive qualities of the ZEEKR 7X.The event will feature two units of the ZEEKR 7X Ultra, the highest trim level. The ZEEKR 7X Ultra is equipped with a 100kWh NCM battery from CATL and a dual-motor system, delivering a maximum output of 645 horsepower and a peak torque of 72.4 kg·m. It can accelerate from 0 to 100 km/h in just 3.9 seconds and has a maximum driving range of 440 km on a single charge, according to the Ministry of Environment's standard testing conditions.Additionally, the vehicle boasts various premium features, including automatic doors, air suspension, CCD electronic variable dampers, a 36.21-inch head-up display, second-row power sunshades, and the ZEEKR Sound Pro sound system, enhancing its competitive edge.The popup store will have professional docents and sales consultants on hand to provide detailed introductions to the vehicle's key convenience features, advanced technologies, and design elements.Customized purchasing consultations tailored to customers' lifestyles and preferences will also be available. Visitors can experience the practicality and innovative technology of the ZEEKR 7X firsthand, including a 5.3L refrigerator capable of temperature control from -6°C to 50°C and various storage options, or check them out using an interactive technology scanner.A customer engagement program is also planned. Visitors who complete a stamp tour during the event will receive ZEEKR brand merchandise, and various benefits will be offered to those who consult on-site.A ZEEKR Korea representative stated, "Starfield Hanam is the ideal space for family-oriented customers, who are the core demographic for the ZEEKR 7X, to naturally experience the vehicle in their daily lives. Through this popup store, we aim to directly convey the premium electrification experience and differentiated lifestyle value that the ZEEKR 7X offers, while continuously expanding our engagement with domestic customers."The ZEEKR 7X is available in three trims: Pro, Max, and Ultra, with prices set at 52.99 million won, 59.99 million won, and 69.99 million won, respectively.Details about the popup store's operating schedule and pre-reservation benefits can be found on the official ZEEKR Korea website and its official social media channels.* This article has been translated by AI. 2026-08-21 10:20:00
  • Toss Bank Reduces Overseas Remittance Fees by 1 Billion Won
    Toss Bank Reduces Overseas Remittance Fees by 1 Billion Won Toss Bank has reduced the fee burden for customers using its overseas remittance service by approximately 1 billion won since its launch.On August 21, Toss Bank announced that from January to last month, customers saved a total of 1 billion won in remittance fees through its 'Visible Overseas Remittance' service.Traditionally, overseas remittance methods incur costs of about 13,000 won per transaction, including a telegraphic transfer fee of 8,000 won and a minimum remittance fee of 5,000 won, according to the Consumer Portal of the Korea Federation of Banks. In contrast, Toss Bank currently waives the remittance fee of 3,900 won per transaction and does not charge intermediary fees as it bypasses intermediary banks. This fee waiver promotion will continue until December 31.By eliminating intermediary fees, Toss Bank differentiates itself from traditional overseas remittance services. Previously, customers often received less than the original amount sent due to fees deducted at each intermediary bank. This created inconveniences, especially when sending exact amounts for tuition or deposits, requiring additional remittances to cover any shortfall.Toss Bank's structure avoids intermediary banks, reducing both fee burdens and the likelihood of needing to send additional funds.The number of users is also rapidly increasing. From January to July this year, the monthly volume of overseas remittances through Toss Bank increased nearly fourfold. Among users, those in their 20s and 30s account for about 72%, indicating a growing demand for overseas remittances among younger customers, particularly for studying abroad or language training.A Toss Bank representative stated, "We have changed the perception that overseas remittance is difficult, slow, and insecure into one of speed and transparency. We will continue to expand the overseas remittance experience so that customers can send money with peace of mind and without burden."* This article has been translated by AI. 2026-08-21 10:20:00
  • Yoon Hong-geun of Genesis BBQ: Crises Signal New Choices
    Yoon Hong-geun of Genesis BBQ: Crises Signal New Choices Yoon Hong-geun, chairman of Genesis BBQ Group, stated, "Crises can be signals that demand new choices rather than obstacles that halt businesses."According to Genesis BBQ Group, Yoon made these remarks during a lecture at the 43rd HDI CEO Summer Forum held at the Topsten Hotel in Gangneung, Gangwon Province, on August 20.The forum, themed "The Next Frontier in the Age of Superintelligence: Finding Essential Competitiveness in an Era of Technological Overload," featured Yoon's lecture titled "Turning Crises into Opportunities: A Continuous Challenge Towards the World." The event was attended by over 130 CEOs from major domestic companies and institutions, including Kim Jong-gap, chairman of HDI.In his lecture, Yoon framed the past 31 years of BBQ not merely as a history of achievements but as a history of choices made during moments of crisis.He explained that despite various crises, including the 1997 IMF financial crisis, avian influenza, and rapidly changing dining trends, BBQ chose to innovate and pursue coexistence rather than remain complacent, which has been key to its competitiveness.In 2005, BBQ introduced its Golden Olive Chicken, which incorporated olive oil into chicken preparation, and established a training and quality management system centered around its Chicken University, continuing its innovation across products and operations.Yoon emphasized, "Building a large company is different from creating a sustainable one," highlighting the importance of not only external growth but also maintaining sustainable competitiveness.BBQ has also accelerated its international expansion. Since entering the overseas market in 2003 with its first store in Shanghai, China, it now operates approximately 800 stores across 57 countries, including North America, Central and South America, Southeast Asia, and Central Asia.This year, BBQ continues to expand its market presence, having opened its first store in Ho Chi Minh City, Vietnam, in May, and signed a master franchise agreement with a local company in Brunei, further broadening its reach in Southeast Asia.Yoon remarked, "You cannot become a leader in a new market by merely following the paths others have already created," adding, "BBQ's 31 years have been a time of challenges, choosing new paths and creating them during crises."He concluded by stating that in an era of rapid advancements in artificial intelligence and digital technology, it is crucial to clarify the value that must be provided to customers and the reason for a company's existence, continuously innovating based on that foundation.Yoon asserted, "In the future, BBQ will not settle for the status quo but will continuously challenge itself towards the global market, growing as a global brand that promotes the competitiveness of K-food worldwide."* This article has been translated by AI. 2026-08-21 10:16:00
  • Will China Join U.S. Sanctions Against Iran?
    Will China Join U.S. Sanctions Against Iran? U.S. Treasury Secretary Scott Besant announced plans to unveil a new economic sanctions strategy aimed at destabilizing the Iranian regime during a press conference on August 24. Attention is focused on whether China, the largest buyer of Iranian oil, will participate in these sanctions.In a CNBC interview on August 20, Besant described the upcoming sanctions as the most severe in history, likening them to a "one-two punch" following the ongoing maritime blockade. He urged allies to choose between siding with the U.S. or opposing it, emphasizing that China's reliance on the Gulf region for 50% of its energy makes the stability of the Strait of Hormuz beneficial for its interests. When asked if China would be included in the sanctions, he replied, "Some discussions are better kept private," avoiding a direct answer.China is viewed as a crucial supporter of Iran's economy. According to Iranian customs data, Iran exported an average of 1.6 million barrels of oil per day in 2024, with 90.8% (1.46 million barrels) going to China. This amounted to $11.8 billion, representing 4% of Iran's GDP of $310.1 billion.In 2010, Iran exported oil to over 20 countries, with China accounting for only 19% of its exports. However, after the U.S. imposed economic sanctions on Iran in 2011, most countries ceased purchasing Iranian oil. China, however, continued to import oil from Iran, and if it does not comply with U.S. sanctions, the effectiveness of these measures is likely to be limited. Max Maizlish, a researcher at the Foundation for Defense of Democracies, referred to China as Iran's "primary partner in evading sanctions," stating that without Chinese support, Iran would struggle to sustain its war efforts.Analysts suggest that China is unlikely to join U.S. sanctions this time, as it has previously deemed U.S. actions against Iran illegal. Chinese Foreign Minister Wang Yi met with Iranian Deputy Foreign Minister Abbas Araghchi in May, labeling U.S. and Israeli attacks on Iran as unlawful and calling for an immediate ceasefire.Following U.S. sanctions targeting Chinese companies like Hengli Petrochemical, the Chinese Ministry of Commerce issued a directive on May 2 instructing domestic firms not to recognize or comply with U.S. sanctions. This marked the first activation of the "Blocking Statute" established in 2021 to counteract the extraterritorial application of foreign laws. The People's Daily, the official newspaper of the Chinese Communist Party, commented on this, asserting that it would defend the rights of Chinese companies against U.S. overreach.Moreover, China has developed methods to circumvent U.S. sanctions. Its shadow tanker fleet has been transporting sanctioned oil to China, and smaller private refineries have been purchasing oil without engaging in dollar transactions, thus avoiding U.S. financial sanctions.However, some speculate that if the U.S. offers corresponding incentives, China might consider joining the sanctions. Robin Mills, CEO of Dubai-based energy consulting firm Qamar Energy, noted that China could leverage its purchases of Iranian oil in U.S.-China trade negotiations, linking the issue to core Chinese interests in Taiwan and the South China Sea.* This article has been translated by AI. 2026-08-21 10:16:00
  • Youngest Female Police Chief in Gangnam Sparks Mixed Reactions
    Youngest Female Police Chief in Gangnam Sparks Mixed Reactions The profile of the current police chief of Seoul's Gangnam Police Station, born in 1983, has become a topic of discussion.On August 21, an online community revealed the profile of the Gangnam Police Chief.According to the disclosed profile, the individual graduated from Yonsei University after attending Korean Samyook High School. She passed the 53rd National Administrative Examination in 2009 and worked as a civil servant at the Public Procurement Service.She reportedly chose a career in law enforcement at the suggestion of her father, who was also a police officer. She began her police career in 2013 as part of the 20th recruitment for experienced officers, taking a path different from the typical police promotion route.In 2020, she earned a master's degree in public administration from Seoul National University.After being promoted to police chief in January 2021, she served as a policy advisor for the Ministry of Justice's Criminal Justice Common System Operation Team and held the position of chief of the Gwacheon Police Station from February 2023 to February 2024.She then served as the head of the Women's Protection Division at the Seoul Police Agency, the Human Rights Protection Officer at the National Police Agency, and the head of the Youth Protection Division before being appointed as the first female chief of the Gangnam Police Station in December 2025.She holds several notable records, including being the second female police chief in police history and the first female head of the Information Division at the Chungbuk Police Agency in 2015.In 2021, she made history as the youngest female police chief at the age of 38. Her appointment as the first female chief of the Gangnam Police Station in 2025 garnered significant attention.The Gangnam Police Station is considered a key police station in Seoul, overseeing areas with high security demands and social interest, including Gangnam Station, Apgujeong, Cheongdam, and Samseong-dong, which are known for their high foot traffic and concentration of entertainment and commercial facilities.Online reactions to her profile have been mixed.Some users praised her achievements, stating, “That’s impressive,” “She’s elite,” and “It’s remarkable to see someone from the administrative exam background in the police force. I hope she does well despite the controversies.”Conversely, others raised questions about her police experience and the role of the Gangnam Police Chief.Comments included, “You can become a chief in Seoul without a background in serious crime,” and “Is that the Gangnam Police Station?”Some users referenced past controversies surrounding the Gangnam Police Station, including the Burning Sun incident, the suspicious death of a criminal case, the Rolls-Royce incident at Apgujeong Station, theft of seized items by a current police officer, attempts to cover up the incident involving YouTuber Tzuyang, the loss of Bitcoin worth 2.1 billion won, and conflicts of interest related to the Park Na-rae case, as well as the Yang Jeong-won fraud case.One user specifically linked the suspicious death case to the Burning Sun incident, suggesting that a re-investigation is necessary.* This article has been translated by AI. 2026-08-21 10:16:00
  • Rare Works by Masters Like Park Soo-keun and Kim Chang-yeol Featured in August Art Auctions
    Rare Works by Masters Like Park Soo-keun and Kim Chang-yeol Featured in August Art Auctions Rare works by masters of modern and contemporary Korean art will be featured in upcoming auctions this month. Notable pieces include Park Soo-keun's work, which is being auctioned for the first time in 40 years, Kim Chang-yeol's 'Water Drop,' which is making its domestic debut after being exhibited at the FIAC art fair in Paris 45 years ago, and a large-scale work by Kim Whanki from his New York period.Seoul Auction and K Auction will hold their respective art auctions on August 25 and 26 in Gangnam, Seoul. Seoul Auction will present 117 lots valued at approximately 9.1466 billion won, while K Auction will feature 102 pieces estimated at around 6.5 billion won, bringing the total to over 200 pieces worth more than 15 billion won across the two days.One of the standout pieces is Park Soo-keun's 'Tree and Woman' (estimated at 400 million to 800 million won), which showcases his signature themes of aged trees and women. This piece was part of the collection of Margaret Miller, a key patron of Park in the 1960s. It has been exhibited in several notable shows, including the 'Korean Impression Exhibition' at the Korean Art Museum in 1983 and the '20th Anniversary Exhibition of Park Soo-keun' at the Hyundai Gallery in 1985.Seoul Auction will also present Kim Chang-yeol's large work 'Water Drop' (estimated at 600 million to 1.2 billion won), which was first shown at the Stamply Gallery booth during the FIAC at the Grand Palais in Paris in 1981. This piece is characterized by its unique composition featuring golden droplets and a central rectangular window. Additionally, Kim Whanki's 1966 work '3-Ⅱ-66' (150 cm) will be auctioned, marking a significant transition in his style from concrete forms to full abstraction during his New York period.Early works from these masters are also garnering attention. Seoul Auction will feature Yoon Hyung-keun's 1968 piece 'Untitled,' known for its rich texture and blue hues, as well as Lee Ufan's four-panel folding screen 'Untitled' (1960), created shortly after his arrival in Japan in 1956. K Auction will showcase Yoon Hyung-keun's 'Umber-Blue' and Lee Ufan's 'With the Wind,' allowing for comparisons with their later representative series that established their unique styles.Additionally, Lee Dae-won's works 'Farm,' 'Pine Tree,' and 'Tree,' which have gained attention from the retrospective at the National Museum of Modern and Contemporary Art, Deoksugung, will be available alongside pieces by other modern masters such as Lee Jung-seob and Chun Kyung-ja.The auctions will take place at Seoul Auction's Gangnam Center at 4 PM on August 25 and at K Auction's headquarters in Sinsa-dong at 4 PM on August 26.* This article has been translated by AI. 2026-08-21 10:12:00
  • Corporate Loan Delinquency Rates Reach Highest Level in a Decade
    Corporate Loan Delinquency Rates Reach Highest Level in a Decade The delinquency rate for domestic banks' won-denominated loans reached its highest level in a decade as of June. Although the rate decreased from the previous month due to a large-scale cleanup of delinquent loans at the end of the quarter, the corporate loan delinquency rate has risen compared to a year ago. As the government promotes productive finance to expand funding for businesses and advanced industries, the importance of managing the soundness of corporate loans is increasing.According to the Financial Supervisory Service on August 21, the delinquency rate for won-denominated loans at domestic banks was 0.56% at the end of June, down 0.11 percentage points from the end of the previous month. However, this is an increase of 0.04 percentage points compared to the same month last year. This marks the highest level for June since 0.71% in June 2016.The decline in the delinquency rate from the previous month was significantly influenced by the end-of-quarter effect. Banks sold off 5.3 trillion won worth of delinquent loans in June, an increase of 3.8 trillion won from the previous month’s 1.5 trillion won. The amount of new delinquencies also decreased from 3.3 trillion won to 2.6 trillion won.By sector, the trends in corporate and household loans diverged. The corporate loan delinquency rate fell to 0.68%, down 0.16 percentage points from the previous month, but it rose by 0.08 percentage points compared to the same month last year. In contrast, the household loan delinquency rate decreased to 0.40%, down 0.05 percentage points from the previous month and 0.01 percentage points from the same month last year. Consequently, the gap between the delinquency rates for corporate and household loans widened to 0.28 percentage points, up from 0.10 percentage points in June 2024.Among corporate loans, the burden of soundness is particularly evident for small businesses. The delinquency rate for small businesses rose to 0.92%, up 0.13 percentage points from 0.79% in June last year. During the same period, the delinquency rate for individual business loans increased from 0.66% to 0.69%, a rise of 0.03 percentage points. The delinquency rates for large corporations and small businesses also increased by 0.08 percentage points each, reaching 0.22% and 0.82%, respectively.As the corporate loan delinquency rate rises compared to last year, simply increasing the supply of loans could also heighten banks' credit assessment and provisioning burdens. There are calls for risk-sharing measures through policy finance and guarantees to expand funding for relatively lower-credit small and innovative enterprises.The pace of new delinquencies has somewhat stabilized. The new delinquency rate in June was 0.10%, down 0.03 percentage points from the previous month and 0.01 percentage points from the same month last year. Additionally, household loans, including mortgage and credit loans, showed improvement compared to the previous year. The delinquency rate for mortgage loans was 0.28%, down 0.02 percentage points from the same month last year. The delinquency rate for credit loans, excluding mortgages, also decreased to 0.77%, down 0.01 percentage points during the same period.* This article has been translated by AI. 2026-08-21 10:12:00
  • KOSPI opens lower as US yield worries return
    KOSPI opens lower as US yield worries return SEOUL, August 21 (AJP) - South Korean stocks opened lower on Friday, giving back some of the previous session's sharp gains as higher U.S. Treasury yields, rising oil prices and losses on Wall Street weighed on investor sentiment. The benchmark KOSPI traded at 6,808.63 points at around 9 a.m., down 0.64 percent from the previous session. The junior KOSDAQ also fell 3.53 percent to 811.22, with losses considerably steeper among smaller growth stocks. The decline came after the KOSPI surged 5.89 percent the previous day, powered by a rebound in semiconductor heavyweights including SK hynix, after the chipmaker announced a record 40 trillion won (US$28 billion) share buyback plan. But major chipmakers bucked the broader decline in early trading. Samsung Electronics rose 0.18 percent to 271,500 won, while SK hynix gained 1.42 percent to 1,715,000 won. Samsung Electronics preferred shares climbed 3.61 percent to 198,100 won as of 9:35 a.m. Elsewhere among major stocks, losses were widespread. Samsung Electro-Mechanics dropped 4.94 percent to 1,327,000 won, LG Energy Solution fell 2.37 percent to 349,500 won and Hyundai Motor lost 1.38 percent to 411,750 won. Hanwha Aerospace slid 6.26 percent to 1,094,000 won, while HD Hyundai Heavy Industries declined 3.26 percent to 460,000 won. Financial stocks were mixed, with KB Financial rising 1.06 percent to 161,700 won and Shinhan Financial Group gaining 1.48 percent to 102,600 won. Samsung Life Insurance fell 1.01 percent to 294,000 won. The selloff was sharper on the KOSDAQ, where all 10 of the largest stocks shown in early trading were lower. Biotech platform developer Alteogen fell 5.74 percent to 320,000 won, while battery materials group EcoPro dropped 4.43 percent to 84,200 won and cathode-material maker EcoPro BM lost 5.26 percent to 108,100 won. Robot maker Rainbow Robotics slid 5.51 percent to 445,500 won. Semiconductor-related equipment and component makers also retreated. Jusung Engineering, which makes semiconductor manufacturing equipment, fell 1.35 percent to 174,900 won, while semiconductor and display equipment maker Wonik IPS dropped 3.25 percent to 110,200 won. Leeno Industrial, a maker of semiconductor testing components, declined 4.03 percent to 66,700 won, and laser-based semiconductor equipment maker EO Technics lost 2.53 percent to 404,500 won. Biotech companies were also weak, with HLB down 4.26 percent at 38,200 won and bispecific-antibody developer ABL Bio tumbling 6.67 percent to 77,000 won. Early trading showed investors turning cautious again. Retail investors bought a net 70.8 billion won ($50.7 million) of KOSPI shares, while foreign and institutional investors sold a net 20.6 billion won and 109.1 billion won, respectively. Program trading recorded net selling of about 183.9 billion won. The cautious start followed a broad retreat on Wall Street overnight, where higher Treasury yields and signs of weaker U.S. consumer spending weighed on stocks. The Dow Jones Industrial Average fell 1.32 percent, to 52,759.21 on Thursday. The S&P 500 dropped 0.87 percent to 7,641.16, while the Nasdaq Composite lost 1.00 percent to 26,067.17. Concerns about consumer spending deepened after Walmart, the largest U.S. retailer, reported that sales at its established U.S. stores rose just 2.6 percent in the second quarter, the slowest pace in six years. Its shares plunged 9.15 percent as high fuel prices added to worries that consumers could cut back on spending. Bond yields added to the cautious mood. The benchmark 10-year U.S. Treasury yield climbed 5 basis points to around 4.70 percent, while the 30-year yield rose about 4 basis points to 5.24 percent. The moves came just a day after yields briefly eased when the U.S. Treasury announced plans to expand its buyback of long-term government bonds. The program allows the Treasury to purchase bonds already trading in the market, making them easier to buy and sell. The measure helped calm global bond markets and supported Thursday's rebound in Korean equities, but investors remain concerned that heavy government borrowing and more debt issuance by big tech companies to fund artificial intelligence (AI)-related investment could keep yields elevated. Higher bond yields can weigh particularly heavily on technology and other growth stocks by increasing borrowing costs and reducing the value investors place on future earnings. Oil prices posed another risk, climbing more than 2 percent amid heightened tensions surrounding Iran. October Brent crude futures settled at $93.78 a barrel, while September West Texas Intermediate crude ended at $87.83. Friday's early decline marked a renewed test for the South Korean market after the previous day's powerful rebound, with investors watching whether semiconductor momentum can withstand another bout of pressure from higher global yields and oil prices. Meanwhile, the won strengthened, trading at 1,385.10 against the U.S. dollar as of 9 a.m., compared with 1,392.60 the previous day. AJP Takeaways • South Korea's KOSPI fell 0.64 percent to 6,808.63 as of 9:16 a.m. on Aug. 21, 2026, giving back part of its 5.89 percent surge on Aug. 20 as higher U.S. Treasury yields, rising oil prices and Wall Street losses weighed on sentiment. • Samsung Electronics rose 0.18 percent to 271,500 won and SK hynix gained 1.42 percent to 1,715,000 won, bucking the broader market decline after SK hynix's 40 trillion won ($28 billion) share buyback and cancellation plan helped fuel the previous session's rebound. • U.S. Treasury yields climbed on Aug. 20, with the 10-year yield reaching about 4.70 percent and the 30-year yield 5.24 percent, despite the U.S. Treasury's move to expand buybacks of long-term government bonds. • Walmart shares plunged 9.15 percent on Aug. 20 after the largest U.S. retailer reported its slowest second-quarter U.S. comparable-sales growth in six years, adding to concerns that high fuel prices could curb consumer spending. • The South Korean won strengthened to 1,385.10 per U.S. dollar as of 9 a.m. on Aug. 21, 2026, from 1,392.60 the previous day. 2026-08-21 10:11:54