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Global Inflation Drives Synchronization of Long-Term Interest Rates in Korea and the U.S. The rise in long-term interest rates in the United States has led to a corresponding increase in South Korea's long-term interest rates, primarily driven by global inflation shocks. Notably, during the transmission of these global shocks to domestic long-term rates, expectations regarding the Bank of Korea's future monetary policy had a greater impact than investors' risk compensation.According to a report released on September 20 by the Bank of Korea's Economic Research Institute, the synchronization of long-term interest rates between Korea and the U.S. significantly increased following the global financial crisis in 2008 and during the global inflation shock in 2021. This phenomenon not only reflects the movement of both countries' long-term rates in the same direction but also shows a simultaneous expansion and contraction in the volatility of these rates.The research team found that the contribution of global inflation shocks to the synchronization of long-term interest rates was the highest at 41.0%. This was followed by U.S. long-term interest rates at 22.7%, the monetary policy of the Federal Reserve at 18.3%, and the U.S. economy at 18.0%.In particular, during the transmission of external shocks, including global inflation to Korean long-term interest rates, the 'policy expectations' pathway, which reflects expectations about future central bank policy rates, played a crucial role. In contrast, the influence of the risk compensation pathway, which adjusts the term premium of long-term interest rates, was relatively small.Specifically, of the 0.385 contribution of global inflation shocks to the synchronization of long-term interest rates between Korea and the U.S., the policy expectations pathway accounted for 0.361, while the risk compensation pathway contributed only 0.023. This indicates that when global inflation shocks are transmitted to Korean rates, market expectations regarding future domestic monetary policy have a significantly greater impact than changes in investors' risk compensation.This trend was also confirmed in the context of the Federal Reserve's unconventional monetary policies, such as quantitative easing (QE). An analysis of interest rate movements five days before and after major policy announcements revealed that the U.S. 10-year Treasury yield fell by an average of 34.2 basis points (1 basis point = 0.01 percentage points), while the Korean 10-year yield dropped by 17.9 basis points. Of the decline in Korean rates, the policy expectations pathway accounted for 10.9 basis points, while the risk compensation pathway contributed 7.0 basis points.The Bank of Korea noted that the synchronization of long-term interest rates between Korea and the U.S. may be an inevitable phenomenon due to changes in global conditions. However, it suggested that effective communication with the market could help manage these expectations and potentially mitigate the synchronization effect.* This article has been translated by AI. 2026-09-20 12:04:00 -
KISA Receives International Recognition for Internet Resource Management The Korea Internet & Security Agency (KISA) announced that it passed the "Internet Resource Management Status Inspection" conducted by the Asia-Pacific Network Information Centre (APNIC) on September 20.APNIC is an international non-profit organization that manages and distributes Internet Protocol (IP) addresses and Autonomous System (AS) numbers for 56 countries and regions in the Asia-Pacific.Since 2023, APNIC has been conducting inspections for member countries to verify the accuracy of Internet resource registrations and compliance with international policies. South Korea was included in this year's inspection.The inspection focused on nearly a decade of Internet address allocation history. The countries under review included Taiwan, Vietnam, and India, among others, which manage IP addresses after receiving delegation from APNIC.KISA, as the national Internet address management agency, submitted relevant data, including approximately 112 million IPv4 addresses and 5,261 IPv6 address blocks managed by 1,097 member organizations, including domestic telecommunications companies and businesses.Lee Sang-jung, head of KISA, stated, "Accurate management of Internet resources is the foundation for stable Internet operation and routing security. We will continue to systematically manage address resources in accordance with international standards and create a safe Internet usage environment." 2026-09-20 12:04:00
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Samsung C&T Selected for $1.8 Billion Seongsu 3 District Redevelopment Samsung C&T has been selected as the construction company for the redevelopment project in the Seongsu 3 District of Seoul. According to the construction industry on September 20, the Seongsu 3 District redevelopment association held a regular general meeting on September 19, where it voted to approve Samsung C&T as the construction company. A total of 669 out of 959 association members participated in the vote, with 598 in favor, 61 against, and 10 abstentions or invalid votes. The Seongsu 3 District redevelopment project aims to transform approximately 114,193 square meters in Seongsu-dong 2-ga, Seongdong-gu, into a 72-story residential complex. Samsung C&T had previously submitted bids alone in both the first and second rounds, resulting in consecutive failures due to a lack of competition. The estimated construction cost proposed by the association is 1.8275 trillion won. The association is currently conducting a comprehensive review based on designs from Haean Architectural Firm and plans to finalize detailed contracts and review procedures incorporating Samsung C&T's alternative designs. Samsung C&T has proposed the project name 'Raemian Levir.' The payment method for association members is suggested to be 0% for the contract and interim payments, with 100% due upon occupancy. The relocation costs will be fully covered, with a loan-to-value ratio (LTV) of 100% for both basic and additional relocation expenses.* This article has been translated by AI. 2026-09-20 11:56:00
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Kumho Construction Selected as Preferred Bidder for Songdo Severance Hospital Project Kumho Construction will begin the construction of the Songdo Severance Hospital, which has a total floor area of 145,000 square meters.On September 20, Kumho Construction announced that it was selected as the preferred bidder for the construction of the Songdo Severance Hospital, a project commissioned by Yonsei University Health System on September 18.This project involves building a comprehensive hospital with three underground floors and 13 above-ground floors in the Songdo International City, Incheon, with a total construction cost of 391 billion won.Kumho Construction has extensive experience in constructing medical facilities. It is currently working on the new Wonju Severance Christian Hospital, which has a budget of approximately 227.2 billion won. This facility will consist of an 11-story main building above ground and a five-story annex, also above ground, with a total construction cost of about 227.2 billion won.Recently, the company secured the contract for the construction of the second hospital of Wonju Yonsei Medical Center. This project will have a total floor area of 11,964 square meters, with one underground floor and seven above-ground floors, and a total project cost of 65 billion won. The hospital is set to begin operations in June 2028.Kumho Construction is also expanding its portfolio in the construction sector. It has recently secured contracts for projects including Samsung Electronics' plant in Korea, the Kintex parking complex, and the Jangji parking lot redevelopment project.A representative from Kumho Construction stated, “The Songdo Severance Hospital will not only enhance local medical infrastructure but also strengthen the competitiveness of the Songdo Bio Cluster. We will do our utmost to ensure the successful execution of this project based on our accumulated experience and expertise in constructing medical facilities.” 2026-09-20 11:56:00
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Cho Kuk Calls for Ending Politics of Derision and Division Cho Kuk, head of the Innovation Policy Research Institute of the Innovation Party, stated on September 20 that President Lee Jae-myung should put an end to 'politics of derision' and 'divisive politics.'In a post on his Facebook, Cho explained, "On September 19, President Lee clarified the circumstances surrounding his cancellation of a controversial post mentioning himself," adding that the president emphasized the importance of solidarity and cooperation.Earlier, on September 18, President Lee shared a supportive post related to his press conference on X (formerly Twitter), stating, "It is very comforting." However, the post's author was known to have used derogatory terms like 'Moon Jae-in, Cho Kuk, Kim Eo-jun, Jeong Cheong-rae, and Yoo Si-min' in the past, leading to controversy. Following this, President Lee deleted the post and requested in a new post titled 'The President's Friend' that hate speech be refrained from.Cho argued, "The attitude of 'The President's Friend' becomes a source of hateful incitement and reasons for criticism against the president, rather than expanding support and empathy. Ironically, this puts the president in a difficult position, which is what those who wish to divide the factions want."He particularly emphasized that those who have engaged in destructive politics, turning allies into enemies while fostering an ecosystem of hate and animosity, should heed the president's words and work towards unity within the ruling camp.Cho made a polite yet firm request to lawmakers, political figures, commentators, and YouTubers who identify as 'pro-Lee' to immediately cease 'politics of derision' and 'divisive politics' in line with the president's intent.He also urged them to remember the president's words that 'we are all allies of Moon Jae-in, Roh Moo-hyun, Kim Dae-jung, and Lee Jae-myung,' stating, "We must revive the spirit of mutual respect and solidarity to strengthen the health of our factions and the foundation of national governance."* This article has been translated by AI. 2026-09-20 11:48:00
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People Power Party Calls for Transparency on Kim Seung-won's Resignation The People Power Party on September 20 urged the government and ruling party to disclose the circumstances surrounding the submission and delivery of a petition reportedly submitted by former aides of Kim Seung-won, who resigned as a candidate for Minister of Justice.Choi Bo-yoon, the party's chief spokesperson, stated in a commentary that "the receipt of the petition, the delivery route, and the timing of sharing it with the verification line must be made public immediately."Choi emphasized, "Unless it is clarified whether the petition was received, and if so, when and how it was shared with the verification line, it remains unexplained why President Yoon weighed the appointment until the next day." She added, "The longer the silence continues, the more the responsibility for the suspicion falls on the Blue House."She further called for an explanation of why the pre-verification and hearing verification processes lagged behind public judgment and insisted on a comprehensive reassessment of the personnel system. Choi also urged the Democratic Party to cooperate with investigations into the allegations raised.Additionally, she called on President Yoon to directly apologize to the public for the repeated failures in appointments and to clarify the allegations of undue influence and the involvement of Kim Hyun-ji, the head of the Blue House's first secretariat.Choi concluded, "When a candidate resigns, it only leaves a vacancy; it does not eliminate the allegations. The pursuit of truth, investigations, and legal and political accountability must begin now."Earlier, KBS reported that a former aide to Kim submitted a petition to the Blue House containing allegations of sexual harassment, additional drunk driving, and abuse of power. Kim's camp responded, stating, "The rumors about the petition reported in the media are either inaccurate or exaggerated and erroneous. We will confirm and review the facts regarding the reporting and its content before taking necessary actions."* This article has been translated by AI. 2026-09-20 11:40:00
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Hwang Sun-woo and Kim Young-bum Advance to Men's 100m Freestyle Final Korean swimmers Hwang Sun-woo (Gangwon Provincial Office) and Kim Young-bum (Gangwon Provincial Office) have both advanced to the final of the men's 100m freestyle event.Hwang Sun-woo recorded a time of 48.13 seconds in the preliminaries of heat 5 at the 2026 Aichi-Nagoya Asian Games, held at the Tokyo Aquatics Center on September 20, securing the second-fastest time overall.Kim Young-bum, competing in heat 4, finished with a time of 48.34 seconds, earning him the third-fastest time overall to qualify for the final.China's Pan Zhanle took first place overall with a time of 48.07 seconds.With both of Korea's sprinting stars reaching the final, attention is now focused on the medal competition. Hwang Sun-woo is a bronze medalist in this event from the 2022 Hangzhou Asian Games.The final is scheduled to take place at 5:57 PM at the same venue. 2026-09-20 11:28:00
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Shin Ji-eun Wins Bronze in Women's Individual Time Trial at 2026 Aichi-Nagoya Asian Games Shin Ji-eun (Geumsan County Office) secured a bronze medal in the women's individual time trial at the 2026 Aichi-Nagoya Asian Games, marking the first medal for the South Korean team in the competition.On September 20, Shin recorded a time of 36 minutes and 56.14 seconds on the Shinchiro cycling road course. She finished third, following Kazakhstan's Rinat Sultanova, who took gold with a time of 36 minutes and 23.72 seconds, and China's Zhang Hao, who earned silver with 36 minutes and 28.40 seconds.This achievement represents the first medal for the South Korean delegation at this event.Starting tenth among 15 competitors, Shin passed the first checkpoint in 12 minutes and 58.31 seconds, placing fourth overall. She then increased her speed, completing the second segment in 11 minutes and 51.39 seconds, which brought her up to third place with a cumulative time of 24 minutes and 49.70 seconds.Maintaining her pace in the final segment, Shin finished with a time of 36 minutes and 56.14 seconds, securing her third-place position.Having earned a valuable medal in her first event, Shin will aim for additional medals in the team pursuit, Madison, and omnium events scheduled for the 29th.* This article has been translated by AI. 2026-09-20 11:20:20
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Kim Min-seok Calls for Cooperation on Constitutional Reform Following President Lee Jae-myung's Denial of Reelection Intent Kim Min-seok, leader of the Democratic Party, urged the People Power Party on September 20 to engage in serious discussions on constitutional reform, stating, "Now that President Lee Jae-myung has officially denied any intention to seek reelection, it is time to shift to earnest discussions on constitutional amendments."During a press conference marking the launch of the Constitutional Reform Promotion Team at the National Assembly, Kim noted, "President Lee has repeatedly mentioned constitutional reform and has clearly addressed the obstacles raised by the opposition party."Previously, the People Power Party had insisted that the Democratic Party abandon any talk of constitutional reform, particularly regarding the issue of 'reelection amendments' directed at President Lee. Following a press conference on September 18, where President Lee clarified his position, Kim called on the People Power Party to actively participate in discussions on constitutional reform.Kim expressed confusion over the People Power Party's demands for President Lee to renounce reelection, despite his stated lack of interest in it, asserting, "It is time to move beyond nitpicking and engage in serious discussions on constitutional reform."He emphasized the need for amendments that include the spirit of the May 18 Gwangju Democratization Movement and the Busan-Masan Protests, reforms to the power structure for political system improvement, and the reflection of dignified social rights in the constitution.Kim highlighted the importance of constitutional amendments for the success of the Lee Jae-myung administration and national unity, recalling the historical legacies of former Democratic presidents. He stated, "We will honor the legacy of Kim Dae-jung, who achieved continuous governance success, and remember the history of Roh Moo-hyun, who was sacrificed by the political prosecution while attempting to unify the nation. We will create a history of the Lee Jae-myung government that fully realizes the constitutional reforms initiated by Moon Jae-in."* This article has been translated by AI. 2026-09-20 11:20:00
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Houthi Rebels Target Riyadh with Missile Attack Amid Escalating Conflict Saudi Arabia reported on September 19 that Houthi rebels, aligned with Iran, attempted to attack the capital Riyadh with a ballistic missile. This marks the first time Riyadh has been directly targeted since the escalation of conflict between Saudi Arabia and the Houthis over the Iran War.According to reports from AFP and others, the Saudi-led coalition announced that it intercepted a ballistic missile fired by the Houthis toward Riyadh early that morning. The coalition emphasized that the Houthis also attempted to attack civilians and civilian infrastructure in the regions of Bisha, Taif, Farasan, and Yanbu, but these efforts were thwarted by Saudi air defense systems. However, the coalition's announcement came a significant time after the attacks occurred.Reports indicated that explosions were heard in Riyadh until the morning, and smoke was seen rising near King Khalid International Airport. Foreign media also reported a fire at a fuel tank belonging to Saudi state oil company Aramco, prompting firefighters to respond. No specific reports of casualties or property damage have been confirmed.Saudi civil defense authorities issued and later lifted air raid alerts for Riyadh and several other areas from the previous night into the morning. This was the first air raid alert issued for Riyadh since the escalation of conflict between Saudi Arabia and the Houthis.The Houthis acknowledged conducting military operations targeting Saudi Arabia. Yahya Saree, a military spokesperson for the Houthis, stated in a statement that they carried out two military operations against Saudi Arabia using ballistic missiles, cruise missiles, and drones.Saree claimed, "The first operation targeted sensitive facilities in Riyadh, while the second operation aimed at Aramco facilities in Yanbu," adding that they would continue to target Saudi military capabilities until the blockade of Yemen is lifted.This attack comes as the Houthis have been expanding their offensive within Yemen. Recently, they captured the key port of Mocha in western Yemen and have extended their influence to Perim Island, located at the entrance of the Red Sea and Bab el-Mandeb Strait.As the Houthis intensify their attacks on Saudi Arabia, the likelihood of a renewed escalation in the Yemeni civil war, which has remained relatively quiet since a ceasefire in 2022, is increasing. Concerns are growing that clashes between Iran and Saudi Arabia could spill over into the Yemeni front, heightening security risks in the Red Sea and Bab el-Mandeb Strait. 2026-09-20 11:08:20