AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Rising Long-Term Interest Rates Demand Attention from Households, Businesses, and Government
    Rising Long-Term Interest Rates Demand Attention from Households, Businesses, and Government The global bond market is experiencing turbulence, leading to a sharp rise in South Korea's long-term interest rates. Recently, the yield on the U.S. 30-year Treasury bond surpassed 5.3%, reaching its highest level since 2007, while long-term rates in Japan and major European countries have also hit multi-decade highs. This surge is attributed to heightened inflation concerns due to instability in the Middle East and rising international oil prices, compounded by worries over fiscal deficits and increased government bond issuance in major economies.South Korea is not immune to these trends. On August 18, the yield on the 10-year government bond rose to 4.382%, an increase of 0.069 percentage points in just one day, while the 30-year bond yield soared to 4.751%, setting a new record. In contrast, the yield on the 3-year bond, which is closely tied to the base rate, stands at 3.847%, highlighting the particularly pronounced rise in long-term rates. This indicates that the increase in long-term rates in the U.S. and other global markets is quickly transferring to South Korea's bond market.The issue is that rising government bond rates do not only affect bond investors. These rates serve as a benchmark for private financing costs, influencing the yields on corporate bonds and bank loans. On August 18, the yield on AA-rated corporate bonds for three years also increased to 4.542%. If high rates persist, companies will face higher costs when issuing corporate bonds or borrowing from banks, potentially leading to delays in capital investment and new projects. This is particularly concerning for heavily indebted companies and real estate project financing.Households are similarly affected. As banks' funding costs rise, there will be upward pressure on loan rates, including mortgage rates. With significant household debt, an increase in interest burdens will likely lead households to cut back on consumption first. If the government attempts to stimulate the economy by injecting money but market interest rates offset these efforts, it could hinder economic recovery. This is why the rise in long-term interest rates cannot be viewed solely as a financial market issue.The Bank of Korea's challenges are also deepening. Last month, the central bank raised the base rate from 2.50% to 2.75%. Even if adjustments to the base rate are made based on future economic conditions, there is a possibility that domestic market rates will not follow suit if global long-term rates remain high. Conversely, maintaining a tight monetary policy for an extended period to stabilize market rates could further increase the interest burden on households and businesses. The rise in global long-term rates could limit the central bank's policy options.Government finances are not exempt from these pressures. An increase in government bond rates means that the interest burden on new debt or refinancing existing bonds will rise. If the government excessively relies on bond issuance to expand fiscal spending, the increased supply of bonds could further push up long-term rates, creating a vicious cycle. Concerns about fiscal deficits and rising national debt are also at the root of the recent surge in long-term rates in major economies. The government should not end up increasing private financing costs while attempting to stimulate the economy through fiscal measures.The direction for response is clear. The government should spend on necessary fiscal measures while reducing non-essential expenditures and maintaining a long-term national debt management plan to uphold trust in public finances. Financial authorities should closely monitor whether the rise in market rates is leading to defaults among vulnerable borrowers, self-employed individuals, struggling companies, and project financing.Long-term interest rates represent the cost of money that the economy must bear over an extended period. When this cost rises sharply, it simultaneously pressures household consumption, business investment, and government fiscal capacity. While global rates are beyond our control, the resilience of our economy to withstand these shocks is in our hands. It is time to reduce debt and enhance trust in public finances. We must not take the warnings from the bond market lightly. 2026-08-19 15:08:00
  • Concerns Raised Over Chief Justice Cho Hee-daes Unilateral Nomination of New Justices
    Concerns Raised Over Chief Justice Cho Hee-dae's Unilateral Nomination of New Justices The Supreme Court's authority to nominate justices, granted by the Constitution, is a crucial element in maintaining the independence of the judiciary, alongside the president's appointment power and the National Assembly's consent. However, Chief Justice Cho Hee-dae's decision to bypass established protocols and notify the Blue House of new Supreme Court nominees in writing, without prior consultation, raises serious concerns about his unilateral approach and undermines the constitutional framework for cooperation between the branches of government.On August 18, the Supreme Court formally nominated Son Bong-ki, a 60-year-old chief judge at the Daegu District Court, to succeed former Justice Noh Tae-ack, who has been vacant for over five months. Additionally, Kim Sung-soo, a 57-year-old chief judge at the Seoul High Court, was nominated to replace Justice Lee Heung-gu, who is set to retire in September. The Supreme Court stated that the nominees were chosen based on their legal expertise, fair judgment, and the need for diversity within the court. Both nominees are noted for their non-affiliation with Seoul National University and their current roles as judges, which are seen as reducing political bias.The primary issue with this nomination process lies not in the candidates themselves but in the unprecedented disregard for established procedures. Previous chief justices have met directly with the president, who holds the appointment power, to discuss and coordinate nominations in a thorough manner. This process has been essential for preventing conflicts between the executive and judicial branches and fostering mutual respect. In contrast, Chief Justice Cho, facing disagreements with the Blue House, opted for a unilateral written notification, effectively bypassing the president and the Blue House. His brief response to reporters on his way to work on August 19, where he only offered a polite greeting, exemplified a troubling avoidance of accountability.The ruling Democratic Party has reacted strongly, with party leader Kim Min-seok stating at a Supreme Council meeting that Cho is engaging in judicial misconduct, likening his behavior to that of a delinquent student begging to be expelled. He called for Cho's immediate resignation, labeling him the worst chief justice since the end of Japanese colonial rule. Conversely, some opposition figures have defended Cho's actions as a principled stand for judicial independence, indicating a deepening conflict within the political landscape.The prolonged vacancy in the Supreme Court has already begun to adversely affect the public, as the delay in nominations has led to significant backlogs in court proceedings. The abrupt nominations, following months of inaction, have raised concerns about potential disruptions during the National Assembly's confirmation hearings and voting processes.Ultimately, the chief justice's failure to fulfill his public responsibilities has jeopardized the right of citizens to seek justice in appellate cases. The backdrop to Cho's decision to bypass the Blue House appears to be a power struggle over the candidates recommended by the nomination committee and the progressive female legal professionals the Blue House had hoped to consider. However, the unilateral written notification lacks both justification and legitimacy.This situation exemplifies a stubborn refusal to engage in constructive dialogue, hidden behind the facade of judicial independence. If Chief Justice Cho continues to prioritize his pride and obstinacy over constitutional procedures, he must bear full responsibility for the ensuing dysfunction within the judiciary and the resulting chaos in governance. 2026-08-19 15:08:00
  • Biotech firm surges after US approval of new cancer therapy
    Biotech firm surges after US approval of new cancer therapy SEOUL, August 19 (AJP) - Biotech firm Sillajen's shares surged on Wednesday, bucking a sharp market selloff, as the first U.S. approval of an oncolytic virus therapy in 11 years revived investor interest in companies developing similar cancer treatments. Its shares were trading 13 percent higher at 2,390 won in early afternoon trading after jumping as much as 29.79 percent to an intraday high of 2,745 won. The gain came despite a broad market selloff, with the benchmark KOSPI down more than 5 percent to around 6,477, triggering a sell-side sidecar. The rally came after the U.S. Food and Drug Administration (FDA) approved Replimune's Tudriqev on Aug. 6, a new cancer treatment that uses viruses to attack tumors. The drug is intended for certain patients with advanced melanoma, a serious form of skin cancer, whose disease continued to worsen despite immunotherapy, which helps the body's immune system fight cancer. It is used together with nivolumab, another medicine that helps the immune system attack cancer cells. Tudriqev is an oncolytic virus therapy, which uses modified viruses to target cancer cells. The technology has been studied for years, but few drugs have reached the market, putting fresh attention on other developers working in the field. Among them is Sillajen, which is developing the SJ-600 series, a group of experimental cancer drugs designed to avoid the body's natural defenses and remain active while traveling through the bloodstream. The firm says the therapy could reduce the amount of virus needed and potentially limit side effects. It develops treatments that aim to attack tumor cells while helping the body's immune system fight the disease. AJP Takeaways • Sillajen shares jumped 13 percent to 2,390 won as of 1:44 p.m. on Aug. 19, 2026, after rising as much as 29.79 percent during the session. • The rally followed the U.S. Food and Drug Administration's Aug. 6, 2026, approval of Replimune's Tudriqev, an oncolytic virus therapy for certain patients with advanced melanoma. • Sillajen is developing the SJ-600 series, experimental cancer drugs designed to remain active in the bloodstream by avoiding the body's natural defenses. 2026-08-19 15:05:52
  • OpenAI Pauses AI Reinforcement Learning for Safety Checks
    OpenAI Pauses AI Reinforcement Learning for Safety Checks As competition in generative artificial intelligence (AI) intensifies, OpenAI has announced a temporary pause in reinforcement learning for its latest model to conduct safety checks. This measure aims to manage potential security risks as AI models become more autonomous and capable of self-hacking.On August 19, OpenAI stated it would slow the expansion of its AI models and enhance monitoring, model behavior alignment, and security controls in isolated environments. Specifically, reinforcement learning for the latest frontier model will be suspended for approximately two weeks, during which small-scale training and safety evaluations will take place.This action is a response to security threats. As AI models evolve from merely generating responses to becoming agents that can autonomously access external tools and environments, the risk of unintended actions or impacts on external systems has increased.Previously, OpenAI disclosed instances where AI agents accessed external systems and performed hacking activities outside controlled environments. Additionally, the upcoming model 'Astra' has been flagged as potentially falling into the highest risk category in its internal cybersecurity risk assessment, prompting a halt in some development work.OpenAI plans to strengthen security controls to prevent models from escaping isolated environments and to establish network separation to ensure that any breaches of external services do not spread to the internet or internal development networks. The scope of red team testing and monitoring systems will also be expanded.Furthermore, OpenAI is enhancing measures to protect AI users. On August 18, it launched 'Youth ChatGPT' for users aged 13 to 17. If the system identifies a user as under 18 or if a user indicates they are between 13 and 17, a youth-specific experience will be applied, with increased protections for sensitive topics such as self-harm, violence, and eating disorders. Parents will also have features to manage usage time.In the youth service, interactions that encourage romantic feelings or emotional dependency will be limited. Educational features, including study modes and quizzes, will also be provided to support learning.* This article has been translated by AI. 2026-08-19 15:04:00
  • Korea Technology Guarantee Fund Partners with BNK Gyeongnam Bank to Support Future Strategic Industries
    Korea Technology Guarantee Fund Partners with BNK Gyeongnam Bank to Support Future Strategic Industries The Korea Technology Guarantee Fund announced on August 19 that it has signed a memorandum of understanding with BNK Gyeongnam Bank to provide productive financial support for the development of future strategic industries.The AtoF initiative refers to advanced strategic industries identified by the government as six key growth engines: artificial intelligence (AI), biotechnology, cultural content, defense, energy, and advanced manufacturing.This agreement aims to enhance financial accessibility for technology-based small and medium-sized enterprises (SMEs) in high-potential future strategic industries, thereby supporting their technological competitiveness and stable growth.Under the agreement, the Korea Technology Guarantee Fund will provide a guarantee support agreement worth 50 billion won based on a 5 billion won guarantee fee support from Gyeongnam Bank for AtoF-related companies. Gyeongnam Bank will support a guarantee fee of 0.5 percentage points for two years.The two institutions plan to actively identify promising companies in future strategic industries through this agreement and strengthen cooperation to ensure that productive finance is smoothly supplied to companies with high innovation and growth potential.Kwon Hyung-taek, chairman of the Korea Technology Guarantee Fund, stated, "To enhance the competitiveness of future strategic industries, it is crucial to provide timely funding to SMEs with excellent technology and innovative capabilities. The Korea Technology Guarantee Fund will actively support sustainable growth for outstanding technology companies by expanding cooperation with financial institutions."* This article has been translated by AI. 2026-08-19 15:04:00
  • Jeonbuks Bid for Third Financial Center Decision Expected This Year
    Jeonbuk's Bid for 'Third Financial Center' Decision Expected This Year Jeonbuk's bid to be designated as the 'Third Financial Center' will be decided this year. Financial authorities plan to conduct written evaluations and site inspections in the third and fourth quarters, assessing the potential for Jeonju to develop as an international financial center and the conditions for attracting financial companies.On August 19, the Financial Services Commission held its 53rd Financial Center Promotion Committee meeting, where it reviewed the 'Evaluation Plan for Jeonbuk Financial Center Designation' and the '7th Basic Plan for the Creation and Development of Financial Centers (2026-2028).'Jeonbuk Special Self-Governing Province submitted its financial center development plan to the Financial Services Commission on January 29. In May, the commission selected an evaluation research organization, which has formed a panel of 12 experts in economics, finance, and law. The panel will operate in three divisions: overall, finance, and development.The evaluation panel will assess the potential for development as an international financial center, the current status and attraction potential of domestic and foreign financial companies and related industries, management, education, living environment, and the conditions for securing professional personnel. The feasibility of the development plan, its impact on revitalizing the local economy, and the opinions of local residents and businesses will also be evaluated.The written evaluations and site inspections will take place in the third and fourth quarters of this year. The Financial Center Promotion Committee plans to review the evaluation results submitted by the research organization and decide on Jeonbuk's financial center designation by the end of the year. If designated, it will become the third financial center in the country, following Seoul and Busan.On the same day, the Financial Services Commission also finalized the 7th Basic Plan for Financial Centers, which will be applied over the next three years. The basic plan includes four key initiatives: enhancing innovation in the financial industry, building global-level financial infrastructure, revitalizing capital markets, and strengthening support for financial centers.To promote innovation in the financial industry, the plan aims to expand collaborative services between the financial sector and fintech, as well as improve the operation of regulatory sandboxes. Financial support for fintech companies and tailored assistance based on their growth stages will also be strengthened.In the digital finance sector, the plan will promote the transition to artificial intelligence in the financial sector and establish infrastructure for token securities and a comprehensive regulatory framework for digital assets. To enhance foreign investors' access to the domestic capital market, the plan will also expand English disclosures by listed companies.Strategies tailored to regional characteristics will be applied in Seoul and Busan. Seoul will focus on enhancing competitiveness in fintech and digital finance, while Busan will strengthen financial infrastructure and connections with local industries. Additionally, there will be an expansion of overseas investor relations events to support domestic financial companies' overseas expansion and attract foreign financial firms to Korea.* This article has been translated by AI. 2026-08-19 15:00:20
  • Instead of Gifts, Sharing: Park Seo-jins Birthday Tradition
    Instead of Gifts, Sharing: Park Seo-jin's Birthday Tradition As singer Park Seo-jin's birthday approaches in two days, attention is drawn to the fan club 'Dahbyeol' and its tradition of celebrating his birthday through donations and sharing.Park Seo-jin's birthday is on the 21st. Instead of just congratulatory ads or gifts, both the singer and his fans have added meaning to the occasion by extending warmth to those in need.This culture of fandom has been ongoing for some time. In 2021, Dahbyeol donated 30 million won to Severance Hospital in Sinchon, Seoul, on August 20, the day before Park Seo-jin's birthday. The funds were used to support adult patients with rare diseases and low-income children and adolescents. At that time, fans also donated 20 million won to the Green Umbrella Children's Foundation.In the same year, fans' voting led to another donation. On his birthday, August 21, Park Seo-jin received over 124.48 million votes on the celebrity ranking service 'Choi Aedol Celebrity,' earning him the title of 'Donation Fairy.' As a result, 500,000 won was donated in his name to the Milal Welfare Foundation.In 2023, Park Seo-jin personally contributed 10 million won to Severance Hospital, with the funds allocated for treatment and living expenses for patients with rare and intractable diseases. He had previously donated 10 million won to the same hospital in January of that year.The following year, the scale of donations from fans increased even further. According to Severance Hospital, 565 members of Dahbyeol raised 61,022,000 won to celebrate Park Seo-jin's 2024 birthday, which was donated to the hospital. The funds were used to support treatment costs for low-income children and adolescents. The hospital reported that the total amount donated by Park Seo-jin and his fan club to Severance Hospital exceeded 151,020,000 won.Charitable efforts were not limited to birthdays. In the same year, 1,092 Dahbyeol members conducted a donation relay in their fan cafe, raising 58,210,000 won for the Love Fruit Foundation, which was used to support living expenses for vulnerable groups, including children and adolescents.Dahbyeol stated that they participate in charitable activities to align with Park Seo-jin's commitment to giving back since his debut. In April of last year, they donated 117,400,000 won to the Love Fruit Foundation for recovery efforts following wildfires in the Yeongnam region.The support for the singer has expanded beyond advertisements and gifts to helping others. The charitable initiatives tied to Park Seo-jin's birthday showcase the positive influence of fandom culture.* This article has been translated by AI. 2026-08-19 15:00:20
  • Korean Animation Expands Audience with Hits Like Hachuping and Agaami
    Korean Animation Expands Audience with Hits Like 'Hachuping' and 'Agaami' 영화 '사랑의 하츄핑: 고래보석의 전설'이 '오디세이', '스파이더맨4' 등 할리우드 흥행 대작 사이에서도 누적 관객 70만 명을 넘어서며 뚜렷한 존재감을 드러내고 있다. 가족 단위 관객을 극장으로 이끌며 한국 애니메이션의 상업성을 다시 한 번 보여준 셈이다. '하츄핑'이 성공적인 흥행력을 보여준 가운데 한국 애니메이션은 '관객층 다변화'라는 다음 단계를 향해 나아간다. 애니메이션은 유아동을 위한 콘텐츠라는 고정관념을 넘어 다양한 관객층이 찾는 주류 장르로서 외연을 넓히려는 움직임이다. 이에 하반기 개봉하는 한국 장편 애니메이션들은 서사의 깊이와 기술력을 무기로 본격적인 관객층 확장에 나선다. 영유아 타깃의 캐릭터 중심 기획에서 벗어나 베스트셀러 소설과 동화를 원작으로 삼아 서사를 강조하고 과감한 연출 방식을 도입해 작품의 영화적 완성도를 끌어올리는 시도들이 이어지고 있다. 다음 달 9일 개봉하는 안재훈 감독의 장편 애니메이션 '아가미'는 구병모 작가의 동명 소설이 원작이다. 아가미가 생겨난 아이 '곤'을 통해 삶과 생존에 대한 어두운 은유를 그린다. 정해인, 강하늘, 이청아 등 대중적인 배우들이 성우진으로 합류했다. 원작의 묵직한 정서를 회화적인 2D 작화로 풀어낸 이 작품은 프랑스 안시국제애니메이션영화제 등에 초청되고 유럽, 일본 등에 선판매되며 해외에서 먼저 작품성을 인정받았다. 전 연령층의 공감을 이끌어낸 베스트셀러 동화 '긴긴밤'(루리 작가) 역시 풀 3D 애니메이션으로 제작돼 국제무대에 섰다. 마지막 남은 흰바위코뿔소와 버려진 펭귄을 통해 상실과 연대라는 깊이 있는 철학적 주제를 던진다. 언리얼 엔진 기반의 실시간 렌더링 기술을 통해 대자연과 동물의 감정선을 입체적으로 구현해 냈다. 이 작품은 한국 장편 애니메이션으로는 2013년 연상호 감독의 '사이비' 이후 13년 만에 제51회 토론토국제영화제 센터피스 부문에 공식 초청되는 성과를 거뒀다. 깊어진 서사를 온전히 묘사하기 위한 연출 방식의 진화도 눈여겨볼 대목이다. 19일 개봉하는 오성윤, 이춘백 감독의 창작 애니메이션 '길 위의 뭉치'는 국내 업계에서 이례적인 '선녹음 후작화' 방식을 도입했다. 178명의 제작진이 14만 5440장의 프레임을 그린 이 작품은 도경수, 박소담, 박철민 등 배우들의 실제 호흡과 연기를 캐릭터에 그대로 이식해 실사 영화에 버금가는 생동감을 극대화했다. 거장 봉준호 감독과 이동진 평론가로부터 "한국적 애니메이션에 대한 또렷한 응답"이라는 호평을 이끌어낸 바 있다. '사랑의 하츄핑'의 성공으로 극장용 애니메이션의 상업성을 충분히 확인했다. 남은 과제는 유아동 중심 소비 구조를 넘어 다양한 관객들을 끌어모으는데 있다. 문학 원작의 묵직한 주제 의식과 한층 진일보한 연출 기법을 들고나온 하반기 신작들의 성과가 향후 한국 애니메이션의 경쟁력을 가늠할 시험대가 될 전망이다.* This article has been translated by AI. 2026-08-19 15:00:00
  • Korea Exchange Faces Turmoil Over Management Evaluation Drop
    Korea Exchange Faces Turmoil Over Management Evaluation Drop The Korea Exchange is currently facing significant internal unrest following the recent notification from the Financial Services Commission regarding its 2025 management evaluation results. Historically, the exchange has received top ratings of S or A, but this time it was downgraded to a B, marking its first drop in ten years since 2016.The impact of this downgrade is substantial. Employee bonuses have been cut from 200% to 100% of their base salary, and the salaries of executives have also been reduced by millions of won. Employees, who have already been struggling with stagnant wages due to government controls on inflation since 2021, are expressing frustration, stating, "We are already constrained by government oversight, and now our bonuses have been halved, leaving morale at an all-time low." What led to this situation?◇ 12 Years of Financial Services Commission ControlCurrently, the Korea Exchange operates as a private corporation rather than a public enterprise, with major securities firms and financial institutions as its shareholders. However, in 2009, during the Lee Myung-bak administration, the government designated the exchange as a quasi-government agency, citing mismanagement. This designation imposed various regulations and restrictions on the exchange. After years of demands for deregulation, the exchange was officially removed from the public institution list in 2015.The issue lies in the conditions attached to this deregulation. The Financial Services Commission required the exchange to sign a separate 'management agreement' that, while labeled as an agreement, effectively allowed the commission to control the exchange's budget, employee salaries, and overall operations.Internal dissatisfaction stems from the perception that the exchange is merely a facade of a private company while still being subject to significant control. In fact, during the high inflation period in 2021, the exchange faced a wage freeze due to the commission's oversight. One employee remarked, "There seems to be a negative perception from the Financial Services Commission towards the exchange as a 'high-salary organization.' It would be strange if the government controlled Samsung Electronics' salaries. It's frustrating to be bound by a hierarchical relationship defined by this agreement."◇ Unclear Reasons Behind the DowngradeA more pressing concern is the ambiguous circumstances surrounding the downgrade from S to B.Reports indicate that the Financial Services Commission cited infrastructure stability issues, including a system failure in March 2025 that led to a seven-minute trading halt and the suspension of certain stocks, as a reason for the downgrade. However, many within and outside the exchange question whether a two-tier downgrade is justified given that the exchange reported a 67% increase in net profit to 708.9 billion won compared to the previous year.There are also speculations in the financial investment community that the controversy over single-stock leverage, which emerged earlier this year, may have influenced the evaluation. Critics argued that single-stock leverage involving companies like Samsung Electronics and SK Hynix increased volatility in the domestic market, leading the Financial Services Commission to feel pressured and significantly reduce the qualitative evaluation score of the exchange.The issue revolves around 'temporal consistency' and 'accountability.' This evaluation pertains to the performance of 2025. If the controversy over single-stock leverage, which arose in 2026, was retroactively factored into the evaluation, it raises concerns about the integrity of the assessment. Moreover, the introduction of single-stock leverage was not a unilateral decision by the exchange but a policy initiative approved by the Financial Services Commission and the Securities and Futures Commission.Some argue that while the financial authorities collaboratively established the policy, they are now placing the blame for the negative public sentiment and subsequent evaluation downgrade solely on the exchange. The Financial Services Commission maintains that the single-stock leverage and the downgrade are unrelated, emphasizing a blind evaluation process, but the lack of transparency regarding specific reasons for the downgrade has only fueled rumors and distrust.◇ "Global Competition is Fierce, Yet We Are Handcuffed"In the past, when the exchange held a 100% monopoly over the domestic market, the government's strong oversight and regulation may have been justified. However, the landscape has changed dramatically.With the launch of NextTrade, a multi-party trading company, in March 2025, the domestic exchange market has entered a phase of intense competition. Additionally, the battle for leadership in artificial intelligence, data, and derivatives with global exchanges in San Francisco, Tokyo, and Singapore is fierce. In a time when attracting top talent and adapting organizational structures is crucial, the exchange finds itself constrained by an outdated management agreement and opaque evaluation processes.The exchange's labor union has also called for the revision or abolition of the management agreement, arguing that it undermines financial competitiveness, but the barriers to change remain high. 2026-08-19 14:56:00
  • Finance minister denies discrimination against US firms amid business concerns
    Finance minister denies discrimination against US firms amid business concerns SEOUL, August 19 (AJP) - Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol said Wednesday that the South Korean government would never discriminate against foreign companies, stressing that businesses investing in the country should be treated the same as South Korean firms, regardless of where they are headquartered. At a luncheon meeting in central Seoul hosted by the American Chamber of Commerce in Korea (AMCHAM) in central Seoul, Koo made the remarks amid ongoing concerns in Washington over alleged "discriminatory treatment" of U.S. companies in South Korea including scrutiny of e-commerce giant Coupang and broader complaints involving major tech firms such as Apple, Google and Meta. U.S. lawmakers have argued that the country's regulatory actions may unfairly target American firms, while Seoul has consistently rejected the claims, saying all investigations are conducted in accordance with relevant laws regardless of nationality. Koo repeatedly emphasized the point throughout his speech, thanking foreign investors for their contributions to the South Korean economy. "We absolutely do not discriminate against companies," he said, adding that investors should be seen as "true Korean patriots." He also joked that AMCHAM "should be KOCHAM," arguing that companies operating in South Korea should be considered part of the domestic economy regardless of origin. Koo also outlined the government's so-called "3-4-5 Vision," which aims to raise the country's potential growth rate to 3 percent, make it one of the world's top four exporters and increase per capita income to US$50,000. The strategy is backed by three major initiatives focused on semiconductors, artificial intelligence (AI) data centers and physical AI. Koo also rejected concerns that Seoul was deliberately delaying its investment commitments to the U.S., saying there was "absolutely no intention" of doing so. AMCHAM Chairman and CEO James Kim said South Korea's growing global economic standing and the increasing prominence of companies such as Samsung and SK hynix underscored its potential to become a leading hub for investment, innovation, finance and business. Kim said realizing that potential would require continued efforts to address South Korea-specific regulatory barriers and bring its rules more closely in line with global standards. He also said AMCHAM's recent meetings in Washington showed that the next phase of the U.S.-Korea economic partnership should be built on tangible investment in strategic sectors, deeper technology cooperation and greater regulatory alignment, particularly in the digital economy. He added the bilateral relationship was increasingly being defined not only by the security alliance but also by investment, innovation, technology and public-private cooperation. Koo reiterated that foreign companies would continue to be treated equally. "The South Korean government views AMCHAM member companies not as foreign companies, but as members of the South Korean economy," he said. 2026-08-19 14:54:32