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President Yoon Praises Trump's Decision to Scale Back US-South Korea Drills President Yoon Suk Yeol praised President Donald Trump's decision to reduce US-South Korea joint military exercises, calling it an effort to create conditions for dialogue aimed at peace on the Korean Peninsula. Yoon expressed his respect for Trump's decision, emphasizing his commitment to supporting Trump's role as a 'peacemaker' with his own role as a 'facilitator.'On the night of August 19, Yoon shared his thoughts on X (formerly Twitter), noting that he had seen Trump's recent social media messages and photos. He expressed agreement with Trump's intention to foster dialogue for establishing a peace regime on the Korean Peninsula through the reduction of joint exercises and field training.Yoon stated, "I respect President Trump's significant decision for peace on the Korean Peninsula," highlighting the importance of a peaceful security framework as the best asset for security. He expressed hope that this decision would lead to trust-building between North Korea and the US, the resumption of dialogue, and the establishment of a stable peace regime on the Korean Peninsula.Earlier, Trump had directed the scaling back of the 'Ulchi Freedom Shield' (UFS) exercises, referencing his relationship with North Korean leader Kim Jong Un. As a result, the US and South Korea shortened the UFS schedule from August 27 to August 21.Yoon recalled his first meeting with Trump at the White House over a year ago, where he positioned himself as a 'facilitator' for peace on the Korean Peninsula and requested Trump to take on the role of 'peacemaker.' He noted that the two leaders discussed restoring peace on the Korean Peninsula and resolving nuclear issues at the G7 summit and NATO summit, reiterating his commitment to actively promote and contribute to Trump's peacemaking efforts.This indicates that the South Korean government aims to take an active role as a facilitator in creating conditions for resuming dialogue between North Korea and the US.Yoon also reaffirmed South Korea's commitment to strengthening its self-defense capabilities. He mentioned that the country is increasing defense spending to achieve 3.5% of GDP in accordance with agreements between the US and South Korea, ensuring that it can adequately manage its own defense on the Korean Peninsula.He expressed agreement with Trump's direction that South Korea should take responsibility for its own security on the Korean Peninsula.Regarding Trump's recent inquiry about South Korea's willingness to participate in efforts for Iran's denuclearization, Yoon stated he responded with, "No thanks!" He explained that the South Korean government has repeatedly expressed its intention to actively participate in efforts by the US and the international community to restore freedom of navigation in the Strait of Hormuz.Yoon promised to continue close consultations with the US on practical contributions within the limits of domestic laws and policies. He concluded by expressing hope to meet Trump again in the near future.* This article has been translated by AI. 2026-08-20 07:40:00
Kim Do-young's Three-Run Homer Leads KIA to Fourth Straight Win Over Hanwha The KIA Tigers secured their fourth consecutive victory, powered by Kim Do-young's three-run homer.KIA defeated the Hanwha Eagles 6-3 on August 19 at Daejeon Hanwha Life Eagles Park in the 2026 Shinhan SOL Bank KBO League.According to Yonhap News, the game featured a pitching duel between Shirakawa Keisho and Owen White, with a tight contest unfolding until the later innings.KIA took the lead in the second inning when Oh Sun-woo hit a double and later scored on a ground ball. Harold Castro followed with a solo home run, extending the lead to 2-0.Hanwha, trailing behind, tied the game 2-2 in the seventh inning when Noh Si-hwan hit a two-run homer over the left-center fence.However, in the top of the ninth, KIA regained the lead at 3-2 when Park Jae-hyun delivered a timely hit with runners on first and second after two walks.With one out and runners on second and third, Kim Do-young launched a three-run homer to seal the victory.Kim Do-young recorded his 37th home run of the season, extending his lead over Austin Dean of the LG Twins, who has 32 home runs.In the bottom of the ninth, KIA's Lee Eui-ri came in as a reliever and secured the win with just four pitches, marking his third consecutive save.Meanwhile, Hanwha fell into a five-game losing streak.* This article has been translated by AI. 2026-08-20 07:28:00
Muan's Hyun-gyeong District Focuses on Safety for Vulnerable Residents The Hyun-gyeong District of Muan County is enhancing safety welfare for disaster-vulnerable groups by collaborating across welfare and fire safety sectors. District head Kang Seung-yong is expanding the focus of existing welfare services beyond just living support to include resident safety through the district's specialized initiative, 'Safe Living and Security Care.' Following an initiative in May, the district conducted housing safety inspections and improvement activities this month, involving the local welfare task force, the Muan Fire Department's 119 Safety Patrol, and volunteer firefighters. This initiative aims to proactively address the needs of households that are particularly vulnerable to various disasters, such as heatwaves, heavy rainfall, and fires, by identifying and mitigating potential hazards in their living spaces. Participants visited disaster-vulnerable households to assess their overall living conditions. Special attention was given to households with elderly residents, checking the status of aging electrical wiring and outlets, and identifying fire hazards such as the use of multi-plug adapters. Any identified safety risks and inconveniences were addressed immediately, while residents also received safety education on proper use of electrical appliances, fire prevention measures, and emergency response protocols in case of a fire. The 'Safe Living and Security Care' initiative aims to go beyond providing necessary welfare services to also ensure the safety of living environments for vulnerable groups. By linking the welfare task force's insights on vulnerable households with professional safety inspections from the fire sector, the initiative seeks to reduce potential gaps between welfare and disaster safety. Kang Seung-yong stated, "Welfare services should not only support residents' lives but also carefully monitor everyday risks. We will actively identify disaster-vulnerable groups and improve the risks identified on-site to create a safer Hyun-gyeong District for residents." Moving forward, the district plans to continue collaborating with relevant agencies and organizations to consistently monitor housing safety and risks for the elderly and disaster-vulnerable groups.* This article has been translated by AI. 2026-08-20 06:28:00
Song Ga-in Becomes the Face of Jindo Again with New Attractions Song Ga-in has once again become the face of her hometown, Jindo. The area now boasts attractions named after the singer, including a village, a road, and a park, turning her hometown into a tourist destination for her fans.On August 18, Jindo County reappointed Song Ga-in as its promotional model. She will participate in promotional activities to highlight the region's tourism, culture, and agricultural and marine specialties. The county plans to leverage her popularity to promote local festivals such as the Myeongnyang Battle Festival and the Jindo Mystical Sea Road Festival, as well as local products like daepa (large green onion), gugija (goji berry), seaweed, abalone, and Hongju (a type of traditional liquor).Song Ga-in is set to perform at the '2026 Myeongnyang Battle Festival,' which will take place from September 11 to 13 at the Jindo Nokjin Tourist Area and Jindo Bridge. She is expected to take the stage during the 'Myeongnyang Trot Night' event held during the festival.Beyond her role as a promotional model, Song Ga-in's connection to her hometown is evident in the many places bearing her name. One notable location is 'Song Ga-in Village,' which is not an official administrative district but rather the former name of a village in Jindo County's Jisan-myeon, where she spent her childhood. Following her victory on TV Chosun's 'Miss Trot,' the village gained national recognition as 'Song Ga-in Village.' The Korea Tourism Organization also promotes it as a tourist destination, complete with signage and photo spots in front of her childhood home.Jindo County has included Song Ga-in Village in its official tourist routes. The county's tourism website suggests an itinerary that connects Jindo Bridge, Jindo Dog Theme Park, Song Ga-in Village, Song Ga-in Park, and Sebang Sunset.The road leading to the village is also named after her. 'Song Ga-in Road' is an honorary road designated by Jindo County. Established in 2020 after gathering community input, this road stretches approximately 2 kilometers in the Jisan-myeon area, lined with trees on both sides.In addition to the village and road, there is also a park. Song Ga-in Park is located near Song Ga-in Village in Jindo County's Imhoe-myeon, Gojeong-ri. The county's official channels promote Song Ga-in Park as a tourist site that can be visited alongside Song Ga-in Village. The park features walking paths, pavilions, parking spaces, photo spots, and sculptures.Spanning about 1.5 hectares, Song Ga-in Park is not small. Jindo County reported that in 2022, they planted 80,000 pansies in the park area of 13,473 square meters. Seasonal flowers are planted to create a space where tourists can stroll and take photos.These three locations are not separate tourist sites but are interconnected. Jindo County's official tourism content introduces a route that links 'Song Ga-in Park → Song Ga-in Road → Song Ga-in's birthplace,' with a distance of approximately 1.5 kilometers from the park to her childhood home.* This article has been translated by AI. 2026-08-20 06:20:20
China's World Cup Experience: A Different Perspective The Chinese national team once again failed to qualify for the World Cup. However, the tournament was very much present in the Chinese market. As the event kicked off, advertisements featuring stars like Messi, Ronaldo, Mbappé, and Haaland continuously aired on Chinese television and shopping mall billboards. Chinese companies engaged in a fierce marketing competition, and stories of fans staying up all night to watch the matches were common.The final match between Spain and Argentina was broadcast simultaneously on CCTV1 and CCTV5, reflecting this enthusiasm. However, as the clock approached 6 a.m. during extra time, CCTV1 switched to regular news programming. In South Korea, it would be natural to delay news scheduling by a few minutes to accommodate the game. A notice appeared on the screen indicating that the match continued on CCTV5, meaning the game itself was not entirely lost.The halftime show, however, was a different story. While global pop stars took the stage, Chinese broadcasts filled that time with advertisements and match commentary. Some explained that they did not secure the rights to air the performance, while others on Chinese social media offered different interpretations.Such scenes are not uncommon in sports broadcasting. During the opening ceremony of the 2021 Tokyo Olympics, Chinese streaming platforms switched to other programs when the Taiwanese delegation entered. In the 2024 Paris Olympics opening ceremony, commentary on LGBTQ-related scenes was abruptly halted on CCTV.Similar patterns can be seen in films and dramas. In 'Minions: The Rise of Gru,' an explanation was added to the ending stating that the villain was captured and the protagonist returned home. In 'Friends,' some lines were deleted or translated with different meanings.The common thread is reconstruction rather than outright censorship. China does not block all external content nor does it broadcast it in its original form. The overarching narrative is accepted, but what is shown and how it is conveyed is redefined according to internal Chinese standards.Of course, localizing foreign content for domestic markets is not unique to China. However, in China, broadcasting regulations, industrial interests, cultural tolerances, and political sensitivities all play a role. This is why the same content can be consumed differently in China.These alterations may seem minor. Yet, on that halftime show, while many viewers around the world watched BTS perform, Chinese viewers saw local advertisements instead. For some, BTS's performance became a memorable part of the World Cup final, while for others, it was a scene that did not exist at all. Even while watching the same match, the worlds that linger in each person's mind are different. Such small discrepancies accumulate over time.When Chinese viewers react differently to the same event, we often think of differences in values or political leanings. However, during this World Cup, the images seen by Chinese viewers and those seen by us were not the same. Some scenes were omitted, some expressions altered, and some contexts were conveyed with different explanations.As what is seen and what is not seen accumulates, the very starting point for understanding the world changes. While we believe we are watching the same thing, we are actually seeing different things.- Choi Yeo-jin, CEO of MaxValue Capital, PhD candidate in International Communication at the Chinese Academy of Social Sciences 2026-08-20 06:04:00
POSCO International Transforms into Global Supply Chain Company POSCO International is evolving from its traditional role as a 'comprehensive trading company' to a comprehensive business company that directly designs and operates global supply chains. The company is moving beyond merely buying and selling goods to securing assets and establishing value chains in the energy, materials, and food sectors, covering everything from production to storage and distribution.In an interview with Aju Economy, Jeong Gyeong-jin, Vice President and Head of Management Planning at POSCO International, defined the company as a "comprehensive business company that directly designs and operates global supply chains."POSCO International directly owns and operates key business assets, including gas fields in Myanmar, Senex Energy in Australia, the Gwangyang liquefied natural gas (LNG) terminal, palm oil farms and refineries in Indonesia, and motor core production facilities both domestically and internationally.Vice President Jeong stated, "While traditional trading companies focused on connecting transactions, the current POSCO International's competitiveness lies in what assets and supply chains we secure and operate, rather than just what we buy and sell."He noted, "Although global markets are becoming increasingly uncertain, having resources, production bases, logistics infrastructure, and customer networks allows us to respond more proactively to market changes by directly managing the entire supply chain."Jeong emphasized that POSCO International has been evolving its business model in this direction, building connected supply chains in the energy, materials, and food sectors to create a sustainable profit structure.As part of this transformation, POSCO International's role within the group is also changing. While POSCO Holdings sets group-wide strategies and POSCO and POSCO Future M produce core products, POSCO International is taking on the role of a 'global business developer' that identifies resources and business opportunities worldwide and connects them to actual business.When asked how he envisions POSCO International being evaluated in the market five years from now, Jeong reiterated the importance of breaking away from the traditional trading company model. He stated, "The structure must be established where energy generates stable cash flow, materials expand future growth potential, and food supports supply chain stability and portfolio balance."He concluded, "If the market evaluates POSCO International as a comprehensive business company that directly designs and operates global supply chains, that is the image we aim to create."* This article has been translated by AI. 2026-08-20 05:04:10
Iran's Parliament Speaker Visits Iraq Amid UAE Trade Ban As the United Arab Emirates (UAE) announced a permanent trade embargo against Iran following the launch of two ballistic missiles aimed at its territory, Iranian Parliament Speaker Mohammad Bagher Ghalibaf visited Baghdad, Iraq. Analysts interpreted Ghalibaf's visit as a gesture to consolidate power, noting that he visited the site where Qassem Soleimani, the former commander of the Islamic Revolutionary Guard Corps, was killed by a U.S. strike six years ago. Ghalibaf also leads Iran's delegation in negotiations with the U.S. regarding peace talks.According to AFP, Ghalibaf arrived in Iraq for a three-day visit on August 19. At the site near Baghdad International Airport where Soleimani was killed, Ghalibaf stated, "Our visit today aims to strengthen a new order in the region and to enhance cooperation among all countries without foreign intervention." He added, "Today, resistance has become a global phenomenon that transcends the borders of Iran and Iraq." During his visit, Ghalibaf is expected to meet with Prime Minister Ali Al-Sudani and leaders of the largest Shiite political bloc in the Iraqi parliament.The report noted that Iraq is increasingly struggling to maintain a balance between Iran and the U.S., highlighting the competition between the two countries that has unfolded since 2003. Iran-backed militias are active in Iraq, and Prime Minister Al-Sudani, who came to power with U.S. support three months ago, has demanded these armed groups return their weapons by the end of September. However, pro-Iran militias have refused to comply. Arab Weekly reported that Iran has long viewed these militias as a pillar of regional security.On August 20, Ghalibaf is set to travel to Karbala, a Shiite holy site in Iraq, to participate in a memorial event for former Iranian Supreme Leader Ali Khamenei, who died following a U.S. airstrike on February 28.Meanwhile, Iran's trade with the UAE, a key trading partner, has been indefinitely halted. The UAE government announced a comprehensive trade embargo against Iran on August 19. According to The Hill, the UAE reported that two ballistic missiles fell into its territorial waters, one inside and one outside its maritime boundaries. The Jerusalem Post reported that both missiles were reportedly aimed at nearby maritime traffic.While there were no casualties from the missile attacks, the UAE Ministry of Defense stated it would respond firmly to any attempts that threaten its security. Following the missile incident, the UAE government decided to suspend trade with Iran indefinitely, as reported by CNBC. In response to the UAE's missile claims, Iranian Foreign Ministry spokesman Esmail Baghaei dismissed the allegations as "baseless speculation," denying that Iran had fired missiles at the UAE.* This article has been translated by AI. 2026-08-20 05:04:10
Korean Economy: Focus on Manufacturing and Semiconductor Competitiveness To seize growth opportunities in the age of artificial intelligence (AI), South Korea must maintain its semiconductor competitiveness while focusing on the transition of manufacturing to AI (M.AX), according to Kwon Nam-hoon, head of the Korea Institute for Industrial Economics and Trade. He emphasized the need for South Korea to create substantial added value centered on its strengths in semiconductors and manufacturing, rather than merely following the competition in AI software.In a recent interview with Aju Economy, Kwon stated, "The areas where our country is making money in the AI revolution are ultimately semiconductors and information technology (IT) devices." He noted that the potential for generating revenue through AI software or sovereign AI is significantly lower than through industries that utilize or are linked to AI.Kwon stressed, "The area where South Korea should truly compete is manufacturing," highlighting that M.AX is the most critical and urgent task among various discussions related to AI.Earlier this year, the Korea Institute for Industrial Economics and Trade projected that South Korea's exports would reach approximately $940 billion, a 30.3% increase from the previous year. Exports in the first half of the year also hit a record high of $496.7 billion, with discussions emerging about the possibility of achieving $1 trillion in annual exports. The Korea Development Institute recently forecasted that exports would total $1.745 trillion this year.Kwon remarked, "The talk of reaching $1 trillion in exports is very positive," acknowledging the significant impact of semiconductors. He explained that the surge in semiconductor exports, coupled with increased demand for IT equipment due to the expansion of AI data center construction, has contributed to this growth.He also noted that despite high exchange rates and turmoil in the Middle East, other sectors' exports did not suffer as much as expected, positively influencing overall export growth. Kwon commented, "Some of this was due to luck, and some was due to our effective responses," but cautioned that fortunate circumstances could change at any time, necessitating continued vigilance.However, the increasing reliance on semiconductors raises concerns. Kwon pointed out that since around 2010, exports from industries other than semiconductors and automobiles have not increased in nominal terms. He noted that since around 2015, automobile exports have also stagnated, leading to a situation where exports have effectively become a "one-tool" reliance on semiconductors.Looking ahead, Kwon identified potential risks, including a decline in export competitiveness due to the rising value of the Korean won, the relocation of key production facilities overseas, and competition from Chinese manufacturing. He expressed concern that if the $350 billion investment in the U.S. materializes, it could weaken South Korea's domestic production base.Kwon stated, "There has been a trend of important production facilities moving overseas, particularly centered around the U.S., and this trend is likely to accelerate, which could impact our domestic production capacity."He emphasized the need for M.AX to spread the benefits of the semiconductor boom across the manufacturing sector. However, he cautioned that simply making existing tasks easier through AI implementation does not constitute a genuine transformation.Kwon suggested that to promote M.AX, companies need to establish successful case studies and data frameworks for reference. He highlighted the importance of creating an environment where data can be collected and utilized at low cost while maintaining security, as well as standardizing data and enhancing the AI capabilities of existing workers.He explained that M.AX would only be effective if smart factories and digital transformation (DX) are sufficiently advanced. Kwon argued that the policies of the Ministry of Trade, Industry and Energy regarding M.AX and the Ministry of SMEs and Startups' smart factory initiatives should not be pursued as separate projects.Kwon noted, "Large companies have the capital and workforce to find their own paths, but the focus of M.AX should be on revitalizing small and medium-sized enterprises and the manufacturing ecosystem, which have weakened competitiveness."Kwon made it clear that while the export structure's heavy reliance on semiconductors poses risks, delaying domestic semiconductor investment is not an option. He warned that if South Korea's relative production capacity diminishes amid the global competition for semiconductor production facilities among the U.S., China, Japan, and Europe, it could weaken the country's industrial leadership.Kwon stated, "The global semiconductor market is expanding, and countries are competing to attract production facilities. If our production capacity shrinks in this process, we could face significant strategic challenges in the future, making it essential to increase domestic semiconductor production facilities."He evaluated the government's push for semiconductor mega projects as a policy aimed at maintaining this domestic production base. Kwon noted, "When the mega project was announced, there was mention of accelerating the completion of the Yongin semiconductor cluster," adding that the proactive approach to the mega project is a positive development.He also expressed confidence that even if semiconductor demand does not increase as expected, investments in infrastructure will still be beneficial. Kwon emphasized, "Industrial sites with stable power and water supply are crucial for maintaining domestic manufacturing capacity and developing regions. Investments will not be wasted, as other industries can also utilize them, not just semiconductors."For the semiconductor mega project to translate into actual investment and production, Kwon recommended improvements not only in power and water supply but also in the working hours of research and development personnel. He discussed the need for a "white-collar exemption" related to the 52-hour workweek for personnel in advanced industries like semiconductors, stating, "If we cannot demonstrate flexibility even in areas that require it, we cannot expect flexibility in other sectors either."Kwon proposed that if comprehensive institutional reforms are challenging, work hour flexibility should be implemented first in special zones related to mega projects. He stated, "If special zones are merely given more subsidies without addressing the actual regulatory bottlenecks, they will not succeed," adding that introducing a white-collar exemption could be a first step toward labor market flexibility.However, he cautioned against emphasizing labor market flexibility alone. Kwon asserted, "There is no disagreement on the premise that increasing labor system flexibility must also enhance stability," emphasizing that the issue is more about methodology than direction, making it practical to apply it first through special zones.Kwon stressed that the semiconductor boom does not automatically lead to improvements in South Korea's economic structure. He argued that opportunities secured through exports must be linked to expanding domestic production capacity, M.AX, and strengthening the manufacturing ecosystem to enter a new growth phase.He concluded, "When opportunities arise from outside, we must leverage them to change ourselves to reach a new stage. In times of increased uncertainty, we need a long-term perspective on the industry rather than short-term optimism or pessimism."* This article has been translated by AI. 2026-08-20 05:04:00
POSCO International's LNG Strategy Focuses on Midstream Investments POSCO International is prioritizing investments to strengthen its midstream capabilities in the liquefied natural gas (LNG) value chain, which encompasses procurement, trading, storage, and terminal operations. The company aims to enhance the efficiency of its integrated LNG value chain, from gas fields to power generation, to improve both profitability and capital efficiency.In an interview with Aju Economy, Jeong Gyeong-jin, Vice President and Head of Management Planning at POSCO International, stated, "We are focusing on connection points that can enhance the overall profitability of the value chain. Among these, I believe the midstream sector will be the most critical area moving forward."POSCO International's LNG operations are structured to integrate upstream assets, such as gas fields in Myanmar and Australia’s Senex Energy, with LNG procurement, trading, the Gwangyang LNG terminal, and power generation.Since merging with POSCO Energy in 2023, POSCO International has unified its gas field development and LNG procurement and trading capabilities with terminal and power generation operations into a single system. This integration has bolstered the group's energy procurement stability while allowing for more flexible responses to global energy price fluctuations and supply chain risks.Jeong emphasized, "The significance of the merger lies in the fact that the entire energy business has been integrated into one value chain. This has also positively impacted our ability to mitigate volatility across different businesses and secure stable cash flow."He noted that upstream gas field assets play a crucial role in ensuring stable resource acquisition and cash generation, while downstream power generation enhances demand stability and the overall reliability of the value chain.However, he stressed that the key to determining the efficiency and profitability of the entire value chain lies in the midstream sector. "By strengthening our capabilities in LNG procurement, trading, storage, and terminal operations, we can go beyond merely securing volumes to implement optimal procurement and sales strategies based on market conditions," he said.Jeong also pointed out that this approach would enhance both profitability and risk management capabilities, predicting that the efficiency of LNG operations will significantly influence profitability in the future.The recently established Singapore-based LNG subsidiary is part of this strategy to enhance midstream competitiveness. The plan is to increase flexibility in procurement and sales by leveraging long-term contracts, spot trading, regional price differences, and transportation and storage conditions in the global LNG market.Jeong remarked, "In the global LNG market, the ability to comprehensively utilize long-term contracts, spot trading, and regional price differences is becoming increasingly important. We plan to focus on strengthening our midstream competitiveness to enhance the flexibility and profitability of our entire portfolio."Despite the global energy transition, POSCO International remains committed to investing in LNG. The company believes that as coal power generation declines, LNG will serve as a stable bridge energy source, sustaining demand for a considerable period.Jeong stated, "Energy transition is not an overnight process where one energy source completely replaces another. It must be carried out gradually, considering stable power supply, carbon reduction, and economic viability."He particularly highlighted the Asian market, noting, "Asia's electricity demand continues to grow, and as coal power generation decreases, the demand for stable alternative energy sources is also expanding. In this context, LNG is a realistic bridge energy source during the energy transition."From a financial perspective, Jeong assessed the LNG value chain as highly attractive. Gas fields generate stable cash flow, terminals provide infrastructure-based revenue, and power generation serves as a demand outlet for secured LNG.By integrating procurement and trading functions, the company can flexibly manage volumes based on market prices and supply-demand conditions. POSCO International plans to leverage this foundation to enhance energy procurement stability at the group level.Additionally, the company aims to secure energy reliably for its key businesses, such as steel and secondary battery materials, thereby increasing its resilience against global energy price fluctuations and supply chain risks.POSCO International's investments are not limited to LNG. The company seeks to secure stable cash flow from energy while utilizing the current electric vehicle market stagnation as an opportunity for long-term supply chain development in the materials sector.Jeong noted, "While the growth rate of the electric vehicle market is adjusting, considering carbon neutrality policies and major automakers' electrification strategies, it is difficult to argue that the long-term growth trajectory of the electric vehicle and battery industries has changed. Rather, from the perspective of securing core raw material supply chains, the current adjustment phase may be an opportune time to proactively acquire competitive assets."He added, "POSCO International is not simply investing with the expectation of rising raw material prices; we are approaching this from the perspective of building a raw material supply chain connected to POSCO Group's secondary battery materials business." The strategy focuses on investing in assets with clear long-term demand that can create synergies within the group’s value chain.However, Jeong emphasized that while expanding investments in growth sectors such as energy and materials, maintaining capital efficiency and financial soundness remains a principle. He stated that rather than pursuing expansion solely due to market interest, the company will allocate capital to projects with confirmed profitability and investment recovery potential.Jeong concluded, "We must consider not only growth and strategy but also capital efficiency, cash flow, and investment recovery potential. We plan to actively secure growth opportunities centered around our core business pillars of energy, materials, and food while focusing on investments that can enhance financial soundness and long-term corporate value."He added, "If POSCO International's corporate value is evaluated differently in five years, it will not be due to the performance of a single business but because energy has created stable cash flow, materials have expanded future growth potential, and food has supported supply chain stability and portfolio balance."* This article has been translated by AI. 2026-08-20 05:04:00
Wang Yi Emphasizes Constructive Role for Peace and Stability on Korean Peninsula Foreign Minister Cho Hyun and Wang Yi, head of the Chinese Communist Party's Central Foreign Affairs Office and Foreign Minister, held a four-hour meeting and dinner in Seoul on the afternoon of August 19. Minister Cho introduced the vision for peaceful coexistence on the Korean Peninsula, which President Lee Jae-myung outlined in his Liberation Day speech, including multilateral discussions for ending the war. Wang emphasized China's commitment to playing a constructive role in ensuring peace and stability on the peninsula. According to the Ministry of Foreign Affairs, Minister Cho and Wang exchanged views on Korea-China relations and mutual interests ahead of the 24th anniversary of diplomatic ties between the two countries. Cho explained the South Korean government's efforts toward denuclearization and peace on the peninsula, urging China to play a constructive role in facilitating North Korea's return to dialogue. In his Liberation Day speech, President Lee stated, "We will embark on a journey to end the war and transform the unstable armistice system on the Korean Peninsula into a peace system," proposing discussions among the parties involved to end the long-standing conflict. Wang responded that China's policy toward the Korean Peninsula maintains continuity and stability, reiterating its commitment to a constructive role for peace and stability. He expressed hope for peaceful coexistence between North and South Korea and wished for continued stability and development on the peninsula. Minister Cho assessed that the reciprocal state visits by the leaders of both countries have solidified the momentum for a comprehensive restoration of Korea-China relations, emphasizing the need for concrete follow-up measures to benefit the lives of citizens in both nations. Cho also highlighted the South Korean government's strong support for the successful hosting of the APEC summit in Shenzhen in November, where South Korea will serve as the chair. He urged preparations for high-level exchanges during APEC to begin in earnest. Wang noted that the reciprocal state visits by the leaders have led to a shared understanding, contributing to the stable and continuous improvement of Korea-China relations. He mentioned that President Lee is actively considering a meeting with Chinese President Xi Jinping during the APEC summit in November and called for joint efforts to facilitate this. Wang invited Minister Cho to visit China, to which Cho expressed gratitude and emphasized the need to discuss a mutually convenient time for the visit through diplomatic channels. After the meeting, Wang addressed reporters' questions about whether China would mediate North Korea-U.S. talks, stating, "The North Korea-U.S. summit is a matter for the two sides to decide," but added that the U.S. should change its long-standing hostile policy toward North Korea. The meeting was attended by South Korean officials, including Deputy Minister Jeong Hee-hye, Director Nam Jin of the Northeast and Central Asia Bureau, Director Kim Seok-woo of the Bilateral Economic Bureau, Director Lee Seok-joo of the International Legal Bureau, and Minister-Counselor Yoo Bok-geun from the South Korean Embassy in China. Chinese officials included Ambassador to South Korea Xing Haiming, Deputy Foreign Minister Hua Chunying, Director of the Asian Affairs Department Shen Minjuan, Deputy Director of the News Department Chen Yaowu, and others. This Korea-China Foreign Ministers' meeting was the first since the meeting in Beijing last September, and it marked Wang Yi's first visit to South Korea since September 2021. Wang had previously visited South Korea in November to assist President Xi at the APEC summit in Gyeongju.* This article has been translated by AI. 2026-08-20 04:16:00