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  • KOSPI rebounds sharply on SK hynixs buyback plan
    KOSPI rebounds sharply on SK hynix's buyback plan SEOUL, August 20 (AJP) - South Korea's benchmark KOSPI opened sharply higher Thursday, with SK hynix shares jumping more than 6 percent as the chipmaker began buying back 40 trillion won (US$28.8 billion) of its own shares. The index rose 159.10 points or 2.5 percent to 6,630.27 points shortly after the day's trading began. That recovered about two-fifths of the previous session's 398.66-point plunge, when the main index in Seoul fell 5.8 percent and the Korea Exchange triggered a sidecar, a five-minute halt on program sell orders imposed when KOSPI 200 futures fall 5 percent or more. SK hynix traded at 1,592,000 won, up 92,000 won or 6.1 percent after plunging 9.8 percent in the previous session. Samsung Electronics rose 3.0 percent to 255,000 won. SK hynix said the previous day that its board had approved the repurchase and cancellation of 24.07 million shares or about 3.3 percent of its outstanding shares, in what the company called the largest treasury share cancellation by a listed Korean company. The buyback will run from Thursday through Nov. 19. The chipmaker also vowed to return more than 50 percent of its cumulative free cash flow to shareholders from 2025 to 2027, up from the previous ceiling of 50 percent. The announcement came after a sell-off that had erased roughly half of the stock's market value since its late-June peak. Foreign investors were not the ones buying. They sold a net 188.0 billion won ($135 million) of main-board shares in the opening minutes, and institutions sold a net 250.1 billion won ($180 million). Individuals bought a net 405.1 billion won ($292 million). The rebound was also narrow. Samsung Electro-Mechanics fell 2.9 percent to 1,347,000 won ($970), KB Financial Group lost 2.5 percent to 162,300 won ($117) and Hyundai Motor slipped 0.7 percent to 411,000 won ($296). The junior KOSDAQ rose 15.73 points or 1.9 percent to 840.19. Biotechnology was among the strongest sectors on the junior market, rising 5.7 percent after Moderna shares closed nearly 177 percent higher in New York on positive late-stage clinical trial data for a personalized melanoma vaccine developed with Merck. The Nikkei 225 in Tokyo was up 0.7 percent at 65,810.95, snapping two straight losing sessions. The won traded at 1,388.30 per dollar, slightly stronger than the previous day. 2026-08-20 09:53:41
  • Innospaces Sebit Test Flight Ends Early, Shares Plunge 23%
    Innospace's 'Sebit' Test Flight Ends Early, Shares Plunge 23% Innospace's shares are plummeting following news that the test flight of its multipurpose suborbital rocket, 'Sebit,' ended prematurely.As of 9:19 a.m. on the Korea Exchange, Innospace's stock was trading at 6,200 won, down 1,880 won (23.27%) from the previous trading day. The stock opened at 6,470 won and briefly fell to 5,830 won during the session.The sharp decline is attributed to the announcement that the Sebit test flight concluded earlier than planned. Innospace reported that the flight, conducted at the Alcântara Space Center in Brazil on August 19 at 4:30 p.m. local time, was cut short.Sebit is a first-stage rocket equipped with a 3-ton hybrid rocket engine, designed to transport payloads below an altitude of 100 kilometers. After ignition from its launch pad, the rocket took off normally, but deviations from the planned trajectory were detected during the flight, leading to its early termination.According to Innospace, Sebit landed within the maritime safety zone off Brazil, and there were no injuries or damage to facilities. The company is currently analyzing the collected data to determine the flight's altitude, distance, time, and the reasons for the mission's early conclusion. After identifying the exact cause and detailed flight results, Innospace plans to implement necessary improvements and proceed with follow-up test flights.* This article has been translated by AI. 2026-08-20 09:52:00
  • University Presidents Prioritize Financial Support Over Student Welfare
    University Presidents Prioritize Financial Support Over Student Welfare University presidents across South Korea are primarily focused on securing financial support and attracting international students, highlighting concerns over the survival of their institutions. As the demand for significant investments in artificial intelligence (AI) infrastructure grows, interest in fundamental aspects of higher education, such as student welfare and support for minority groups, has significantly declined.On August 20, the Korean Council for University Education (KCUE) released findings from its "2026 KCUE University President Survey (II): Higher Education in the AX Era." The survey, conducted from June 2 to July 10, included responses from 144 out of 192 member universities, yielding a response rate of 75.0%.The survey revealed that the top priority for university presidents is overwhelmingly financial support programs (79.9%, or 115 universities), followed by attracting and educating international students (60.4%, or 87 universities). Other concerns include recruiting new students (45.8%) and curriculum and academic restructuring (43.1%).Notably, interest in securing development funds increased by 5.6 percentage points from the previous year, ranking eighth, underscoring the urgency for universities to diversify their funding sources.This urgency is compounded by the upcoming challenges of the AI transition. Over 93.7% of university presidents believe that increased investment is necessary to establish an AI environment, with a strong emphasis on building AI infrastructure and developing AI-based curricula and content.However, no university reported being able to fully fund these initiatives independently. About 89.4% of responding universities (127 institutions) indicated that substantial government support is essential, while 55.5% (80 universities) acknowledged the need for investment but have yet to formulate specific plans due to funding shortages.In response, university presidents identified expanding government contributions to the Special Account for Higher and Lifelong Education as their top priority for effective funding solutions. They also called for restructuring local education finance grants and establishing a stable legal funding structure. Additionally, they expressed a commitment to cultivating "convergent talent" that integrates AI into various fields of study.Conversely, areas of direct support and protection for university members received the least attention from presidents. Interest in hiring and staffing (11.8%) and student welfare services, such as dormitories and meal plans (10.4%), was low. Support for student mental health (8.3%) and improvements to laboratory equipment (7.6%) also fell below 10%. The lowest priority, ranked 16th, was support for minority students, including those with disabilities and multicultural backgrounds, with only two universities (1.4%) indicating it as a concern.There is also a noticeable imbalance in the academic ecosystem. While there is a strong push for training advanced AI talent, 36.8% of universities (53 institutions) reported difficulties in maintaining basic and pure academic programs due to declining student demand, reflecting the harsh realities faced by universities prioritizing survival.Lee Gi-jeong, president of the KCUE, stated, "While universities broadly recognize the necessity of transitioning to an AI environment, the reality is that they cannot pursue this solely with their own resources. Higher education funding is a strategic investment for national competitiveness, and it is essential to expand stable and structural funding, such as increasing government contributions to the Special Account for Higher and Lifelong Education, while also fostering collaboration among universities to jointly develop and share AI-based platforms that are challenging to establish independently."* This article has been translated by AI. 2026-08-20 09:48:00
  • Domestic Private Equity Market Hit Hard by MBK Controversy, $5.6 Billion in Investments in First Half
    Domestic Private Equity Market Hit Hard by MBK Controversy, $5.6 Billion in Investments in First Half The domestic private equity (PE) market in South Korea has been severely impacted by the controversy surrounding MBK Partners, leading to a sharp decline in investor sentiment. Major limited partners (LPs), including the National Pension Service, have completely halted new investments, and the combination of high interest rates and volatility in the domestic stock market has further dampened M&A activities among local PEFs.According to a report released on August 20 by Samjong KPMG, titled 'Global PE Investment Trends and Outlook for the Second Half of 2026,' the total amount of PE investment in South Korea for the first half of 2026 was $5.6 billion, with only 69 deals recorded. This represents a mere 8.3% share of the overall PE investment market in the Asia-Pacific region. In contrast, South Korea's market share had exceeded 11-14% from 2018 to 2022, indicating a significant downturn in domestic PE investment activities.The primary reason for the sluggish domestic PE market has been identified as the suspension of new domestic PE investments by major LPs, including the National Pension Service, due to the fallout from the MBK controversy. Additionally, global economic uncertainties and rising borrowing costs have negatively affected control acquisition transactions in the domestic PE sector.Conversely, as the high exchange rate persists, global PE firms with substantial capital have increased their acquisitions of quality domestic assets. The report notes that as more companies consider selling non-core assets amid the high exchange rate, foreign PE firms with ample capital are selectively investing in high-skilled precision manufacturing sectors, such as semiconductors and automotive parts, as well as K-beauty and K-culture export companies.Industry experts believe that the recovery of the domestic PE market in the second half of this year will depend on whether major LPs, including pension funds and mutual aid associations, resume their investment activities.Samjong KPMG stated, 'Plans for investments by pension funds and mutual aid associations are scheduled for the second half of 2026, indicating a potential for recovery in domestic PE investment.' They also predicted that interest from domestic and foreign PE firms would expand beyond traditional buyouts into various investment areas.* This article has been translated by AI. 2026-08-20 09:44:20
  • Hyundai Marine & Fire Insurance Offers Discounts for Vehicles with Pedal Misoperation Prevention Devices
    Hyundai Marine & Fire Insurance Offers Discounts for Vehicles with Pedal Misoperation Prevention Devices Hyundai Marine & Fire Insurance is expanding its discounts for car insurance to include vehicles equipped with pedal misoperation prevention devices. The company announced on August 20 that it has added the 'pedal misoperation safety assistance device' to its 'advanced safety device discount policy' for car insurance. This will apply to contracts effective from August 21 onward. Depending on the number of advanced safety devices installed, customers can receive discounts of up to 24.1% on their car insurance premiums. The pedal misoperation safety assistance device detects when a driver confuses the accelerator and brake pedals, preventing sudden acceleration or warning the driver. It helps prevent pedal misoperation accidents that can occur in low-speed driving areas, such as parking lots or crowded commercial districts. Hyundai Marine & Fire Insurance previously included parking collision prevention assistance devices (PCA) in its discount offerings last October and has now increased the number of eligible advanced safety devices from seven to eight with the addition of the pedal misoperation safety assistance device. A company representative stated, "As social interest in preventing pedal misoperation accidents grows, the role of insurance companies is expanding beyond compensation for accidents to include prevention. We hope this revision contributes to the wider adoption of advanced safety devices and the establishment of a safe driving culture."* This article has been translated by AI. 2026-08-20 09:44:00
  • Inspire Accelerates Global Tourism Hub Strategy Connecting South Korea, China, and Japan
    Inspire Accelerates 'Global Tourism Hub' Strategy Connecting South Korea, China, and Japan As South Korea's inbound tourism market shows a clear recovery due to the easing of visa policies for China, Inspire Entertainment Resort is rapidly establishing partnerships across the inbound sectors of China, Japan, and domestically to attract foreign tourists.Recent statistics from the Korea Tourism Organization and Korea Credit Data (KCD) indicate a significant surge in the number of foreign visitors and card sales, revitalizing the tourism market. The trend in inbound tourism is shifting towards personalized travel and experiential content.In response, Inspire is actively utilizing its vast infrastructure within the resort to implement tailored strategies for attracting tourists from different countries. The resort features three five-star hotel towers with 1,275 rooms, a 15,000-seat arena, an indoor water park, an outdoor entertainment park, and a 150-meter-long digital entertainment street. In its first year of operation, Inspire welcomed over 4 million visitors.Building on this competitive edge, Inspire is focusing on targeting individual tourists (FIT) in the Chinese market through live commerce and online platforms. On July 22, Inspire participated in a live commerce broadcast on Ctrip, China's largest online travel agency (OTA), to conduct a solo promotion.During the broadcast, Inspire CEO Ko Kyu-beom appeared alongside Ctrip Vice President Sunny Sun to introduce the 'playcation' experience, which combines entertainment and relaxation, to Chinese consumers. Inspire emphasized its infrastructure that allows for a comfortable experience of Korean culture without the hassle of navigating a busy urban environment, highlighting the arena, shopping mall, and Aurora Night Market. The broadcast featured four discounted packages tailored to Chinese customers' spending habits.In addition, Inspire is expanding its engagement with Chinese customers by operating an official WeChat mini program and hosting concerts featuring artists from the Greater China region, such as Jang Hak-woo and Lim Jun-geol.In the Japanese market, Inspire is focusing on securing high-value MICE (Meetings, Incentives, Conferences, and Exhibitions) demand through corporate events and incentive tourism. Last month, Inspire signed a memorandum of understanding with the third division of JTB Business Solutions, Japan's largest travel agency, to establish a cooperative framework for attracting outbound groups and MICE demand from Japan.With a total of 1,275 rooms and the largest convention facilities in the country, Inspire is conveniently located just 15 minutes from Incheon International Airport, making it well-suited for attracting large MICE groups. Through this collaboration, Inspire aims to solidify its position as a K-MICE destination in line with the Korea Tourism Organization's strategy to attract high-value tourists and expand the premium MICE market.Inspire is also diversifying its collaborative network with the domestic inbound travel industry. On August 8, Inspire co-hosted the 'Inbound Business Connect 2026' event with the Korea Association of Travel Agents (KATA). Approximately 250 representatives from major inbound travel agencies attended, where Inspire presented new inbound tourism product development directions utilizing complex tourism content such as the arena and Le Space, garnering industry attention.An Inspire representative stated, "In the changing global tourism trends, close and diverse collaboration with key partners from South Korea, China, and Japan is essential for diversifying the attraction of foreign tourists. We aim to combine our world-class MICE infrastructure, unique entertainment facilities, and differentiated playcation content with the expertise of the domestic and international travel industry to become a leading tourism destination in Asia."* This article has been translated by AI. 2026-08-20 09:40:00
  • Modernas 177% Surge Boosts Samyang Biopharm Amid Cancer Vaccine Optimism
    Moderna's 177% Surge Boosts Samyang Biopharm Amid Cancer Vaccine Optimism Samyang Biopharm surged to its daily limit early in the trading session. Following a significant rise in Moderna's stock price due to the successful results of a Phase 3 clinical trial for its mRNA cancer treatment, investors flocked to Samyang Biopharm, which is considered a related stock.As of 9:10 a.m. on the Korea Exchange, Samyang Biopharm's shares were trading at 56,200 won, up 12,900 won (29.79%) from the previous trading day.On the New York Stock Exchange, Moderna announced that its patient-specific mRNA cancer treatment, developed in collaboration with Merck, successfully reduced the risk of cancer recurrence and metastasis in high-risk melanoma patients during a Phase 3 trial, leading to a staggering 177% increase in its stock price.The positive results from the large-scale Phase 3 trial for the personalized mRNA cancer treatment have heightened market expectations for mRNA-based cancer therapies.Samyang Biopharm is classified as a related stock in the domestic market due to its pipeline for mRNA-based cancer vaccines and its gene delivery system platform.The company's gene delivery platform, SENS (Selectivity Enabling Nano Shell), utilizes biodegradable polymers and ionic lipids to deliver drugs for gene therapies. It is also conducting research and development on mRNA cancer vaccines, including SYP-2135.Additionally, the company bolstered investor sentiment with the announcement of its research results prior to the market opening. Samyang Biopharm revealed that a paper detailing the non-clinical research results of its gene delivery system 'NanoReady,' which can be used for mRNA cancer vaccines, was published in the international journal 'Journal of Controlled Release.'NanoReady, part of the SENS platform, is a nanoparticle delivery system that combines self-developed lipids and biodegradable polymers. It is designed to selectively deliver mRNA to dendritic cells in the spleen, allowing for the production of personalized cancer vaccines containing antigen information tailored to individual cancer characteristics, according to the company.Building on this research achievement, Samyang Biopharm plans to advance the development of its own mRNA cancer vaccine pipeline while also expanding its platform business through global technology transfers and joint drug development. 2026-08-20 09:40:00
  • Korean Film Commission Visits Taste of Prison Set to Review Mid-Budget Film Support
    Korean Film Commission Visits 'Taste of Prison' Set to Review Mid-Budget Film Support The Korean Film Council visited the set of the mid-budget film 'Taste of Prison,' which is part of its production support program.On August 19, Han Sang-jun, chairman of the Korean Film Council, visited the filming location at 'Papillon Zip' in Jeongnam, Jangheung, where he held a meeting with the production team and cast.'Taste of Prison' is one of the selected projects under the Korean Film Council's '2025 Mid-Budget Korean Film Production Support Program.' The film, produced by Jupiter Film, is a culinary comedy that tells the story of a star chef and inmates in a prison kitchen.The mid-budget film production support program was launched in 2025 to revitalize the Korean film ecosystem and encourage new productions amid a decline in investment following the COVID-19 pandemic. The initiative aims to attract private investment and promote mid-budget film production.This site visit was organized to assess the current situation of mid-budget film productions and to hear about any challenges faced during the production process. The Korean Film Council has previously visited the sets of other mid-budget supported projects, including 'Six Liars College Students,' 'My First Graduation,' 'The Ripple,' and 'Gardeners.'After touring the set, Han held a meeting with director Kim Gu-jung and actors Lee Sun-bin, Park Ji-hwan, Bae Hyun-sung, Park Young-kyu, Jo Bok-rae, Jo Dong-in, and the crew.Han stated, 'To overcome the stagnation of Korean cinema and make a comeback, it is crucial to activate mid-budget films that provide strong support. I will spare no effort in providing diverse support to ensure that films like 'Taste of Prison,' which have originality and artistic value, can be completed in a stable environment.'Meanwhile, the Korean Film Council selected 16 mid-budget Korean film projects for production support in April of this year, confirming a total production cost support of 19.86 billion won. An additional budget of 26 billion won for further support will be announced in September. 2026-08-20 09:40:00
  • Fukuoka Ranked Top Destination for Korean Travelers During 2026 Chuseok
    Fukuoka Ranked Top Destination for Korean Travelers During 2026 Chuseok As the 2026 Chuseok holiday approaches, the travel preferences of South Korean tourists heading to Japan are shifting. According to an analysis of booking data from the online travel platform Rakuten Travel, Fukuoka has emerged as the most popular destination for Korean travelers during this holiday period. It is followed by Oita, Hokkaido, Tokyo, Okinawa, and Hyogo. Fukuoka, which ranked third last year, has climbed two spots to take the lead this year. The city's appeal lies in its short flight time and minimal travel burden, allowing visitors to enjoy both urban shopping and nearby hot spring resorts within a limited schedule. Oita, which secured the second spot, is also favored for its renowned hot spring destinations, such as Beppu and Yufuin, catering to holiday relaxation needs. Notably, Hyogo Prefecture has made a significant entry into the top rankings. Previously, travel in the Kansai region was primarily centered around Osaka and Kyoto, but recent expansions in flight routes have broadened options to include surrounding small cities. Hyogo offers diverse attractions, including Kobe's culinary scene, shopping, Arima Onsen, and Himeji Castle, making it an appealing alternative for those seeking a more localized travel experience. As travel demand diversifies from major cities to smaller towns and hot spring areas with distinct regional characteristics, the criteria for accommodation selection are becoming more stringent. Rakuten Travel plans to support tailored bookings for holiday travelers based on its extensive accommodation network, which includes large hotels, traditional ryokans, and resorts, along with over 10 million local review data. Kim Tae-gwang, country manager of Rakuten Travel Korea, emphasized the importance of providing meticulous services tailored to individual preferences and schedules during the holiday season, which typically sees a concentration of short-distance travel. He stated that the company aims to continue offering differentiated travel experiences based on its comprehensive accommodation infrastructure across Japan.* This article has been translated by AI. 2026-08-20 09:36:20
  • Navers Digital Twin Platform Adopted as National Standard in Saudi Arabia
    Naver's Digital Twin Platform Adopted as National Standard in Saudi Arabia Naver's cloud-based digital twin platform has received official approval from the Saudi Arabian government and has been adopted as a national standard platform. This development lays the groundwork for Naver's digital twin business to expand beyond individual projects to encompass local governments across Saudi Arabia.On August 20, Naver announced that its digital twin platform has been officially approved by the Saudi Digital Government Authority (DGA) for use by local governments.Following this approval, the Saudi Ministry of Municipal and Rural Affairs recently sent a letter to local governments recommending the priority adoption of the Naver platform for their smart city initiatives. This establishes a foundation for linking digital twin and digital urban planning projects being pursued individually by local governments at a national level.The Saudi government plans to utilize Naver's digital twin platform to transition urban planning and operations, as well as asset and infrastructure management and urban safety, to a data-driven approach. By sharing the data and operational experiences accumulated by local governments, the efficiency of the dispersed digital transformation projects across cities will also be enhanced.Naver plans to strengthen collaboration with the Saudi government and local partners, expanding the application of its technologies, including digital twin, artificial intelligence (AI), and cloud services.Chae Sun-joo, Naver's Head of Strategic Business and Chair of Naver Innovation, stated, “The adoption of this national standard is significant not only for validating Naver's technological capabilities but also for the trust and proven results we have built locally. We aim to leverage this as a stepping stone to integrate our technological strengths in digital twin, AI, and cloud into urban infrastructure development across Saudi Arabia, solidifying our position as a key technology partner in the region's digital transformation.” 2026-08-20 09:36:20