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  • Gachon University Holds 2025 Graduation Ceremony for 1,890 Students
    Gachon University Holds 2025 Graduation Ceremony for 1,890 Students Gachon University held its 2025 graduation ceremony on August 20, awarding degrees to a total of 1,890 students, including 1,118 bachelor's, 687 master's, and 85 doctoral degrees. Graduates and their families gathered to celebrate the achievement, capturing their final moments at the university with photos in their caps and gowns. The ceremony was attended by approximately 3,000 people, including President Lee Gil-yeo, Gachon Foundation Chairman Song Seok-hyung, Vice President Choi Mi-ri, and Alumni Association President Song Seong-geun. For graduates, the ceremony marked a new starting point as they reflected on their university experiences and prepared for their future paths. With rapid technological changes, particularly in AI, there was a strong sentiment emphasizing the need for continuous learning and self-improvement after graduation. Undergraduate graduates are preparing to advance to the next stage based on their individual plans, whether that involves employment, further education, or new challenges. Graduate students are also expected to continue their work in their fields, leveraging the research and expertise they have developed. As they looked back on their time at the university, graduates expressed both nostalgia and excitement about showcasing their abilities in new environments. In his address, President Lee highlighted the importance of continuous self-innovation as a crucial skill in a rapidly changing society. He explained that with the spread of AI technology, it is vital not to remain stagnant with current knowledge and experiences but to adopt a mindset of learning new things. President Lee stated, "While a degree is a reward for your efforts at university, it does not guarantee success after graduation. Do not settle for the familiar; actively respond to change." He also emphasized that sharing personal experiences and embracing challenges in new fields can be a catalyst for growth. President Lee urged graduates to adopt a learning attitude during the process of taking risks rather than avoiding failure. He added, "New possibilities open up for those who continuously learn and adapt," encouraging graduates to carve their own paths based on the knowledge and experiences gained at the university. Meanwhile, the top undergraduate student award went to Lee Na-yul (22) from the Department of Chemistry, who received the President's Award. Jeong Jae-yun (42) from the Graduate School of Education's Physical Education major and Park Geun-hyung (30) from the Graduate School of Health's Physical Therapy major also received the President's Award.* This article has been translated by AI. 2026-08-20 17:08:00
  • Koreas Central Bank Faces Dilemma Amid Rising Long-Term Interest Rates
    Korea's Central Bank Faces Dilemma Amid Rising Long-Term Interest Rates The Bank of Korea's ability to maneuver its monetary policy is increasingly constrained. While lowering the benchmark interest rate seems difficult due to inflation, exchange rates, and household debt, the burden of raising rates is also significant given that household debt has surpassed 2,000 trillion won, particularly affecting vulnerable borrowers such as small business owners. Even if the benchmark rate is held steady, the rise in global long-term interest rates could keep domestic market rates elevated, effectively continuing the tightening effect.On July 16, the Bank of Korea raised the benchmark interest rate from 2.50% to 2.75%, marking a 0.25 percentage point increase. This decision was made amid strengthening growth driven by exports and investment, but with inflation remaining above target levels and ongoing financial stability risks. However, since the rate hike, market interest rates have not aligned with the Bank's expectations.On August 18, the yield on 30-year government bonds reached a record high of 4.751%. In contrast to the immediate aftermath of the rate hike, the yield on the 3-year bonds, which are sensitive to monetary policy, actually fell by 5 basis points, while the 10-year and 30-year bonds rose by 5 and 23 basis points, respectively. Short-term rates are heavily influenced by future rate expectations, but long-term rates are affected by global rates, inflation forecasts, and the supply and demand for government bonds. Thus, there is no guarantee that changes in the policy rate will lead to similar movements in long-term market rates.Lowering the benchmark rate again is not straightforward. The Bank of Korea cited inflation above target levels and threats to financial stability as reasons for the previous rate hike. With ongoing uncertainties in inflation due to geopolitical tensions in the Middle East and rising energy prices, hastily lowering rates could exacerbate the depreciation of the won and increase import price pressures. There is also the risk of reigniting the growth of housing prices and household debt.Conversely, raising rates further poses challenges. As of the end of the second quarter, household credit reached 1,979.8 trillion won, exceeding 2,000 trillion won for the first time. Given the increased debt levels, any additional rate hikes could significantly impact borrowers' principal and interest burdens and consumer spending.Vulnerable borrowers, such as small business owners and those with multiple debts, are particularly at risk. According to data submitted by the Bank of Korea to the National Assembly, a 0.25 percentage point increase in loan rates would raise the annual interest burden for small business owners by 1.8 trillion won. For small business owners with multiple debts, this figure would increase by 1.1 trillion won. The average interest burden per small business owner is estimated to rise by approximately 560,000 won.Repayment capacity is already deteriorating. As of the end of the first quarter, the amount of overdue loans for small business owners reached a record high of 22.3 trillion won, with a delinquency rate of 2.04%, the highest since the second quarter of 2015. The delinquency rate for loans to individual business owners from savings banks reached 12.79%. If further rate hikes occur, the risk of delinquencies and defaults among borrowers already struggling to repay their debts is likely to increase.The issue is that not raising the benchmark rate does not automatically ease financial conditions. If long-term interest rates in major countries like the United States remain high, domestic government bond and bank loan rates may not easily decline. Even if the Bank of Korea lowers the benchmark rate in the future, if long-term market rates do not decrease sufficiently, the reduction in mortgage or corporate borrowing rates will also be limited. This means that attempts to support the economy through rate cuts may not yield the expected results.Ultimately, the Bank of Korea faces a dilemma: while tightening is necessary to control inflation, exchange rates, and household debt, increasing tightening could exacerbate the financial distress of vulnerable borrowers and domestic consumption burdens. Additionally, as global long-term interest rates rise beyond the Bank's control, the options for policy action have narrowed. Whether to raise or lower rates presents a burden, and the independent movement of market rates complicates the monetary policy challenges currently facing the South Korean economy. 2026-08-20 17:08:00
  • Won extends gains, bonds end mixed
    Won extends gains, bonds end mixed SEOUL, August 20 (AJP) - The South Korean won extended its gains against the U.S. dollar on Thursday, while government bond yields ended mixed as longer maturities drew support from a decline in U.S. Treasury yields. The won strengthened 5.1 won from the previous session to close daytime trading at 1,392.6 per dollar, compared with Wednesday's close of 1,397.7. It marked the second straight daytime close below 1,400 and the lowest closing level since Sept. 23, 2025, with the currency briefly strengthening to 1,384.1 during the session. Exporter dollar selling and broader weakness in the U.S. currency supported the won early in the session, before importer demand and a weaker Japanese yen pared some of the gains. The KOSPI rebounded 5.89 percent to 6,852.58 following Wednesday's sharp selloff, with foreign investors returning to net purchases. South Korean government bonds ended mixed, with the three-year yield rising 1.3 basis points to 3.81 percent and the 10-year yield falling 1.4 basis points to 4.32 percent, according to final afternoon quotations from the Korea Financial Investment Association. Longer maturities outperformed, with the 30-year yield dropping 4.6 basis points to 4.68 percent, following an overnight decline in long-term U.S. Treasury yields. U.S. long-term yields fell after the Treasury announced an expansion of its bond buyback program, although the impact on shorter-dated Korean bonds remained limited. Shorter maturities remained relatively weak as investors continued to assess the domestic monetary policy outlook ahead of the Bank of Korea's Aug. 27 rate-setting meeting. Thursday's mixed close followed a broad bond rally the previous day, when the three-year yield fell 4.9 basis points to 3.80 percent and the 10-year yield dropped 4.5 basis points to 4.34 percent. 2026-08-20 17:06:16
  • KFTC Investigation Data Can Be Used in Damage Lawsuits; New Right for Whistleblowers to Request Reinvestigation
    KFTC Investigation Data Can Be Used in Damage Lawsuits; New Right for Whistleblowers to Request Reinvestigation The Korea Fair Trade Commission (KFTC) has expanded the use of its investigation data for damage lawsuits filed by affected companies. The revised law will also establish a procedure allowing whistleblowers to request a reinvestigation when the KFTC determines there is no violation.The KFTC announced that amendments to the Fair Trade Act and the Subcontracting Act passed the National Assembly on August 20.Under current law, while courts can request the KFTC to send case records, the KFTC is not explicitly obligated to comply. Concerns about breaching confidentiality obligations when submitting materials obtained during investigations have limited the use of KFTC data in civil lawsuits.The amended law allows courts to order the KFTC to submit materials after the KFTC has concluded its disposition on a case, provided that the parties involved have made significant efforts but still cannot secure necessary evidence. However, materials related to leniency for voluntary reporting, internal documents created for investigation and review, and documents restricted from disclosure under other laws are excluded from this requirement.While trade secrets are generally protected, courts can require their submission if deemed essential for proving legal violations or damages. In such cases, the court may limit who can access the materials and the scope of that access.A new confidentiality order system will be introduced to prevent the use of trade secrets obtained during litigation for purposes outside the trial or their disclosure to third parties. The grounds for a court to order the submission of materials will expand from merely proving damages to also include proving legal violations. The scope of application will also broaden from certain collusion and unfair trade cases to all damage claims under the Fair Trade Act.The same data submission system will apply to damage lawsuits under the Subcontracting Act. This will enable affected subcontractors to utilize KFTC investigation data to prove the primary contractor's illegal actions and the extent of damages.A new procedure for whistleblowers to request a reinvestigation will also be established. If the KFTC decides there is no violation, it must inform the whistleblower in writing of the decision and the reasons for it. The whistleblower can then request a reinvestigation within 30 days of receiving the notification.The validity of the reinvestigation request will be reviewed by a 'Whistleblower Reinvestigation Request Review Committee' composed of public officials and private members. If the request is deemed valid, the KFTC must assign a different investigator from the original case handler to conduct the reinvestigation. Specific procedures will be determined by presidential decree.The amendment also includes provisions to exclude the duration of effectively conducted dispute resolution from the calculation of the possible disposition period for subcontracting cases. However, periods during which a resolution request is withdrawn or dismissed, or where litigation halts the resolution process, will still be included in the disposition period. The starting point for calculating the period will change from the 'date of reporting' to the 'date of receipt of the report.'The revised law will be promulgated after passing through the government and the State Council, and is expected to take effect one year after its promulgation.* This article has been translated by AI. 2026-08-20 17:04:10
  • Long-Term Interest Rate Shock from U.S. Disrupts South Korean Economy with Over $1.5 Trillion in Debt
    Long-Term Interest Rate Shock from U.S. Disrupts South Korean Economy with Over $1.5 Trillion in Debt The long-term interest rate shock originating from the United States is putting pressure on South Korea's economy, which is grappling with over 2,000 trillion won in household debt and significant corporate refinancing burdens. As domestic government bond rates soar, corporate and bank bond rates are also rising, with mortgage rates approaching 7% again. Prolonged interest rate increases could not only suppress household consumption and business investment but also exacerbate vulnerabilities in sectors such as small businesses, marginal firms, and real estate project financing.According to the financial sector on August 20, the balance of household credit at the end of the second quarter reached 1,979.8 trillion won, surpassing 2,000 trillion won for the first time. This marks an increase of 25.9 trillion won over three months, the largest rise in nearly four years since the third quarter of 2021. The increase in loans related to housing, as well as other loans such as credit loans, has heightened the sensitivity of households to interest rates.Corporations and real estate project financing (PF) are also facing the burden of high interest rates. According to the Korea Securities Depository, the amount of corporate bonds maturing between September and December is expected to reach 22.3 trillion won. The delinquency rate for PF loans rose to 4.65% at the end of March, an increase of 0.77 percentage points from the previous quarter, with 16.4 trillion won classified as having significant or potential credit risk. If interest rates rise again, households and businesses already burdened with debt, as well as PF projects, will likely feel the impact more acutely.In this context, rising interest rates from the U.S. are pushing domestic financial costs higher. On August 18, the yield on the U.S. 30-year Treasury bond exceeded 5.3%, reaching its highest level in 19 years. This surge is attributed to the U.S. national debt surpassing $40 trillion for the first time, alongside fiscal pressures, increased Treasury supply, and inflation uncertainties.The shock quickly spread to the domestic bond market. The yield on South Korea's 30-year government bonds reached 4.751% on August 18, the highest since their first issuance in 2012. On that morning, the 30-year bond yield was 4.698%, while the 10-year bond yield stood at 4.335%. As government bond yields rise, the rates at which companies can actually secure funding are also increasing.On that day, the yield on AA- rated three-year corporate bonds was 4.505%, up about 1.6 percentage points from the 2.9% range a year earlier. This increase is not solely a reflection of rising government bond yields. The yield on three-year government bonds was 3.816%, resulting in a credit spread of 68.9 basis points (1 basis point = 0.01 percentage points) between the AA- rated three-year corporate bonds and government bonds. This indicates that additional costs are being added due to rising government bond yields and increased corporate credit risk.Companies that issued corporate bonds at interest rates of 2-3% during the low-rate period now face the possibility of refinancing at rates exceeding 4% as their bonds mature. While financially strong companies with sufficient operating profits can withstand this, those with high debt reliance or lower credit ratings may see increased interest costs lead to reduced investment and employment. Companies in worse financial situations may even find it difficult to refinance their corporate bonds.Households are also feeling the impact. The key benchmark rate for fixed-rate mortgage loans, the five-year financial bond yield, rose to 4.3967%, significantly higher than the same period last year. The fixed-rate mortgage rates at the four major banks (KB Kookmin, Shinhan, Hana, and Woori) have climbed to between 5.07% and 6.37%, with the upper end nearing 7%. If the rise in financial bonds continues, the burden on borrowers seeking new loans or having their rates reassessed will increase.With household debt exceeding 2,000 trillion won, even slight movements in interest rates can have a significant impact on the overall economy. Households that must allocate more income to interest payments will reduce consumption, while companies facing increased financial costs will cut back on investment and hiring. Small business owners, who are already relying on debt to cover operating costs amid declining sales, and marginal firms that struggle to cover even interest payments with operating profits are particularly vulnerable to rising interest rates. Additionally, as financial costs increase, the viability of less profitable PF projects may become even more challenging.Kim Dae-jong, a professor at Sejong University’s Business School, stated, "Even a 0.5 to 1 percentage point increase in interest rates could impose hundreds of thousands of won in additional interest burdens on households with large loans. This money will not be used for consumption, which could negatively impact the economy."* This article has been translated by AI. 2026-08-20 17:04:00
  • Copper Prices Surge Amid Growing Demand and Supply Constraints
    Copper Prices Surge Amid Growing Demand and Supply Constraints For investors finding gold prices prohibitive, copper is worth considering. With increasing demand driven by investments in artificial intelligence (AI) data centers and power grids, coupled with supply constraints, copper prices have reached record highs. However, even among copper exchange-traded funds (ETFs), returns can vary significantly based on the underlying assets, necessitating careful evaluation.According to the Ministry of Trade, Industry and Energy, on August 17, the London Metal Exchange (LME) spot price for copper hit $14,850 per ton. This marks an 18.13% increase since the beginning of the year and is the highest price on record.The potential for further increases in copper prices is high. Demand is rising due to the expansion of AI data centers and power grids, while production cannot be ramped up significantly in the short term. Additionally, production disruptions are exacerbating supply constraints. Ok Ji-hwa, a researcher at Samsung Securities, stated, "Copper producers are facing declining grades at aging mines and are struggling to initiate new projects and increase output. Despite investments amounting to billions of dollars, the slow pace of production increases raises concerns that new demand will not be met by supply."How can investors engage in copper investments? A straightforward option for individual investors is through ETFs. The domestic market offers copper investment ETFs such as 'TIGER Physical Copper' and 'KODEX Copper Futures (H)'. 'TIGER Physical Copper' invests in the spot price of copper, structured to invest in warehouse receipts for copper stored in government warehouses, allowing investment in the spot price without rollover costs associated with futures contracts. In contrast, 'KODEX Copper Futures (H)' is based on copper futures traded in the United States.Returns vary by product. From July 14 to August 14, 'KODEX Copper Futures (H)' rose by 3.07%, while 'TIGER Physical Copper' fell by 0.51%. This discrepancy arises because the two products track different copper prices. 'KODEX Copper Futures (H)' follows the price of copper futures traded in the U.S., while 'TIGER Physical Copper' reflects the LME spot price. Recently, speculation about potential tariffs on refined copper imports into the U.S. has led to increased demand for futures as investors seek to secure copper before tariffs are implemented, widening the price gap between spot and futures.If one expects the spot price of copper to rise in the medium to long term and wants to avoid costs associated with futures rollovers, a physical ETF is a good choice. Conversely, if one anticipates price strength in futures due to U.S. copper supply and tariff policies, a futures ETF may be a viable option.* This article has been translated by AI. 2026-08-20 17:04:00
  • Global Container Shipping Rates Surge 2.5 Times Amid Middle East Crisis
    Global Container Shipping Rates Surge 2.5 Times Amid Middle East Crisis The prolonged crisis in the Middle East has caused global container shipping rates to soar more than 2.5 times in six months, creating a mixed impact on domestic companies. While shipping firms are poised to benefit from higher rates, export manufacturers are facing increased logistics costs that pressure their profitability.According to the shipping industry on August 20, the Shanghai Containerized Freight Index (SCFI), which reflects global container shipping trends, reached a record high of 3355.24 as of August 14. This marks a significant increase from 1333 points at the end of February, prior to the outbreak of conflict in the Middle East.Shipping rates on Middle Eastern routes have hit all-time highs due to the impact of the conflict between the U.S. and Iran. The cost for one TEU (20-foot standard container) rose by $164 from the previous week to $5422. This is the first time this year that rates on Middle Eastern routes have surpassed $5000.Additionally, rates for shipments to the Americas have also increased, with the cost for one FEU (12-meter container) reaching $9568, up $278 from the previous week, and $6714 for the U.S. West Coast, an increase of $230.The surge in shipping rates is attributed to escalating geopolitical tensions in the Middle East, which have intensified recently. Rising international oil prices are also contributing to increased fuel costs for vessels, further pressuring shipping rates. The market anticipates that the prolonged crisis in the Middle East will delay the normalization of shipping capacity, leading to sustained high rates for the foreseeable future.The strong rates are a boon for domestic container shipping companies, particularly HMM, which relies heavily on its container business for revenue. HMM has reported a more than 50% increase in operating profit in the second quarter of this year, driven by rising shipping rates. The company expects a record performance in the third quarter, bolstered by high rates and increased cargo volumes ahead of the year-end and New Year consumption season.In contrast, export manufacturers are in a state of emergency. The rise in shipping rates directly translates to increased costs for transporting products overseas. Export companies, which are sensitive to external factors such as raw material prices and exchange rates, are facing heightened cost pressures as logistics expenses rise.A recent survey by the Korea International Trade Association of 219 domestic export manufacturers found that 83.1% identified 'rising shipping rates' as their biggest logistical challenge. The burden is expected to be particularly heavy for sectors like petrochemicals and food and agricultural products, where logistics costs constitute a significant portion of product prices.One industry insider noted, "For export volumes already contracted, it is difficult to adjust selling prices in response to rising shipping rates, meaning companies must absorb the increased costs. Especially when rates spike in a short period, the burden on exporters inevitably grows."* This article has been translated by AI. 2026-08-20 17:04:00
  • Busan National University Achieves Total Synthesis of Complex Natural Products
    Busan National University Achieves Total Synthesis of Complex Natural Products Researchers at Busan National University have successfully controlled the positional selectivity of the 'aryne reaction,' known for its high reactivity, to achieve the total synthesis of complex natural products derived from the polyphenol resveratrol found in grapes and wine.On August 20, the university announced that a research team led by Professor Yoon Hwa-young from the Department of Pharmacy has successfully synthesized laetevirenol A and isoampelopsin D, both natural products derived from resveratrol.Total synthesis refers to the complete creation of complex natural products starting from basic precursor materials through a series of chemical reactions.The aryne reaction is an organic chemistry process that generates a highly reactive intermediate between two adjacent carbons in an aromatic ring, forming new bonds. Its high reactivity has made it challenging to control the formation of bonds at desired locations.Natural products derived from resveratrol have attracted attention due to their diverse structures and potential medicinal applications, but their complex structures have made it difficult to synthesize them in desired forms or obtain various derivatives. Laetevirenol A, in particular, is noted for its complex structure as a resveratrol dimer with a phenanthrene skeleton formed by three bent benzene rings, making it a challenging natural product to synthesize.The research team compared the reactivity of aryne with various substituents and confirmed that using specific halogen-substituted aryne allows for the preferential formation of products at desired positions. Based on this, they constructed the phenanthrene skeleton and completed the total synthesis of laetevirenol A in nine steps from commercially available starting materials. For isoampelopsin D, they controlled the positional selectivity of the aryne-ene reaction to synthesize the target structure.The study was conducted with Professor Yoon Hwa-young as the corresponding author and Nguyen Huong as the first author, with contributions from Professor Lee Seok-woo of Chungnam National University, Professor Kim Yeon-jun of Pukyong National University, and Professor Jeong Gi-woong of Busan National University.The research teams from Chungnam National University and Pukyong National University conducted computational chemical analyses to investigate the reasons behind the controlled positional selectivity. They found that the reaction pathways and the stability of transition states vary depending on the substituents introduced to the aryne, and these differences influence the positional selectivity of the final products.The distortion energy of molecular structures and intermolecular interactions occurring at the transition state were identified as key variables. Evaluation of Antioxidant Activity of Derivatives: "It's Too Early for Material Discussions"Professor Jeong Gi-woong's team at Busan National University evaluated the biological activity of the derivatives obtained during the total synthesis process and found that most of the synthesized derivatives exhibited significant antioxidant activity, with some showing higher activity than the natural product itself.However, the research team clarified that the core achievement of this study lies not in proving the efficacy of new substances but in the advancement of synthetic techniques for creating complex compounds.Professor Yoon Hwa-young stated, "The antioxidant data is an additional result confirming the potential for various derivatives during the synthesis process," adding, "The main academic significance of this paper is establishing methodologies for controlling challenging chemical reactions."He emphasized that the essence of the research is to lay the groundwork for freely creating these derivatives rather than focusing solely on the antioxidant effects of specific substances.Professor Yoon further highlighted, "This research successfully applied the established positional selectivity of the highly reactive aryne in the total synthesis of complex natural products, and I expect that the methodologies developed will serve as a crucial foundation for future synthesis research of various natural products and derivatives using aryne, as well as exploring new medicinal applications."This research, supported by the Ministry of Science and ICT's research and development project, was published in the online edition of the Journal of the American Chemical Society (JACS) on August 4.* This article has been translated by AI. 2026-08-20 17:00:20
  • Why Young Adults Still Need Subscription Accounts Despite Low Chances
    Why Young Adults Still Need Subscription Accounts Despite Low Chances More young adults in their 20s and 30s are canceling their subscription accounts, believing their chances of winning a housing lottery are slim due to low scores. However, experts emphasize the importance of maintaining these accounts for long-term benefits, considering special supply options, subscription periods, and tax deductions.According to the Korea Real Estate Agency, as of July, there were 25,773,825 subscription account holders, a decrease of 60,209 from June and 410,282 from the beginning of the year. This decline indicates that many believe their chances of winning are low, even if they have an account. Nevertheless, experts argue that maintaining a subscription account is crucial for preparing for opportunities that match individual conditions, such as special supply.One of the main reasons to keep a subscription account is that winning a lottery is not solely determined by competition scores for general supply. Various special supply programs exist for newlyweds, first-time buyers, families with newborns, young adults, families with multiple children, and those caring for elderly parents. Depending on one’s life stage and circumstances, these programs can provide valuable opportunities. Notably, eligibility for special supply often hinges more on factors like housing status, marital and childbirth status, and income and assets than on competition scores.The subscription period is another reason to establish an account early. The eligibility for a subscription account is calculated from the initial registration date, making it advantageous to maintain the account for a longer duration.Additionally, subscribing to new housing offers the advantage of securing time to gather funds compared to purchasing existing homes. Unlike existing properties, new housing can take considerable time from the announcement of recruitment to actual move-in. Payments can be divided into down payments, interim payments, and final payments, aiding in long-term financial planning.Experts advise that the most important aspect of the subscription process is understanding one’s eligibility rather than merely focusing on winning. The type of supply and priority are determined by legal criteria, so it is essential to verify income, housing status, residence area, and subscription account duration in advance.Seojin Hyung, a professor at Kwangwoon University’s Department of Real Estate Law, noted, “Interest in subscriptions among those in their 20s and 30s has waned due to rising prices and low winning probabilities. However, there are cases where homes subject to price cap regulations are offered at lower prices than regular apartments. For those who find it challenging to secure a home immediately, it is necessary to consistently maintain a subscription account and prepare for long-term opportunities.”* This article has been translated by AI. 2026-08-20 16:56:20
  • Chip equipment maker rides surprise rally in tandem with Modernas triple-digit surge
    Chip equipment maker rides surprise rally in tandem with Moderna's triple-digit surge SEOUL, August 20 (AJP) - Shares of semiconductor equipment maker N2TECH hit their daily limit on Thursday as investors rushed into related South Korean stocks following Moderna's positive results from a late-stage cancer vaccine clinical trial. N2TECH's shares closed at 1,925 won on the junior KOSDAQ, up 29.98 percent from the previous session. The stock opened at 1,831 won and fell as low as 1,646 won before rebounding to the daily limit. The rally came after U.S. biotech firm Moderna and pharmaceutical giant Merck said their personalized mRNA cancer treatment showed positive results in a Phase 3 trial, marking a major step toward potential regulatory approval. The treatment was tested in patients with melanoma, a serious form of skin cancer. It is tailored to mutations in each patient's tumor and uses mRNA to give the immune system instructions to recognize and attack cancer cells. Shares of Moderna soared 176.97 percent in New York on Wednesday following the announcement, sparking a broader rally among South Korean stocks that investors associate with Moderna or mRNA technology. Somagen also closed at its daily limit of 3,750 won, up 29.98 percent, while ST Pharm jumped 11.68 percent to 110,900 won. N2TECH mainly makes equipment for semiconductor production. However, investors have viewed the company as a Moderna-related stock because it previously sought to distribute Moderna's COVID-19 vaccines in South Korea. Thursday's surge reflects growing investor interest in mRNA technology after the successful trial raised hopes that the technology used in COVID-19 vaccines could play a broader role in cancer treatment, although N2TECH is not directly involved in developing Moderna's cancer vaccine. AJP Takeaways • N2TECH shares closed at the daily limit of 1,925 won on Aug. 20, 2026, up 29.98 percent on the KOSDAQ. • The rally followed positive Phase 3 results for a personalized mRNA cancer treatment developed by Moderna and Merck for patients with melanoma. • Somagen also rose 29.98 percent to its daily limit on Aug. 20, while ST Pharm gained 11.68 percent. • N2TECH mainly makes semiconductor production equipment and is not directly involved in the cancer vaccine program, but investors have linked it to Moderna because of its past efforts to distribute the company's COVID-19 vaccines in South Korea. 2026-08-20 16:53:46