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  • The Plaza Hotel to Undergo Major Renovation, Closing for Three Years
    The Plaza Hotel to Undergo Major Renovation, Closing for Three Years The Plaza, a landmark in front of Seoul Plaza for half a century, is set to undergo a significant transformation. The hotel will close its doors at the end of September for a comprehensive renovation expected to last about three years. The existing configuration, which focuses on deluxe rooms, will be revamped to prioritize high-end suites, and the club lounge and business spaces will be expanded. Plans also include attracting a world-class fine dining restaurant and joining a global luxury hotel alliance.Hanwha Hotels & Resorts announced on August 19 that it will begin large-scale renovation work in early 2027 to mark the 50th anniversary of The Plaza. The hotel will cease operations on September 30, marking its first renovation in 16 years since 2010, with a target completion date set for 2029.The core of this renovation is the enhancement of guest rooms and business facilities. The current focus on deluxe rooms will shift to high-end suites, with workspaces integrated into the rooms. The plan aims to strengthen spaces and services targeting VIP clients, including senior government officials and global business leaders.Considering the high demand for meeting spaces, the club lounge will be significantly expanded, and service levels will be elevated.The food and beverage sector will also see improvements. The hotel plans to attract a world-class fine dining restaurant to complement the existing 'The Plaza Dining,' thereby enhancing its gourmet offerings.The Plaza will also broaden its connections with the global luxury hotel market. The hotel is pursuing membership in 'The Leading Hotels of the World (LHW),' an independent luxury hotel alliance that includes the Ritz Paris.The exterior of the hotel will maintain its original design from its establishment, preserving the symbolic significance of the hotel that has stood in downtown Seoul for fifty years while completely refurbishing the interior rooms and facilities.After the renovation, the hotel rooftop will be opened to the public.Hanwha Hotels & Resorts plans to install a dedicated elevator for direct access to the rooftop and create a rooftop garden. Visitors will be able to enjoy views of major areas in downtown Seoul, including City Hall, Gwanghwamun, Gyeongbokgung Palace, Deoksugung Palace, and the Blue House.The Plaza's renovation will coincide with the integrated development project of the Sogong 1, 2, and 3 districts. The project includes renovations of The Plaza in Sogong 1, the Hanwha Building in Sogong 2, and the Hanwha Financial Plaza in Sogong 3.All three buildings will retain their existing structures while being developed into urban complexes that incorporate hotel, business, cultural, and commercial functions.Currently, the project has received building permits, and subsequent procedures, including the review of building demolition, are underway. Hanwha Hotels & Resorts plans to complete the construction by 2029 in consultation with local governments.The Plaza's renovation aligns with Hanwha Group's high-end business strategy in its Life Solutions division.The premium resort ANTO, located at the foot of Bukhansan Mountain, has recently expanded its luxury offerings, including the introduction of poolside dining at 'Bueno Beach Club.'The Galleria luxury department store is also undergoing reconstruction with the involvement of renowned architect Thomas Heatherwick, enhancing both its interior and exterior, as well as VIP-related content. Once The Plaza's renovation is completed, Hanwha Group's high-end business centered around ANTO, The Plaza, and the Galleria luxury department store is expected to expand further.As The Plaza approaches its September closure, it will hold a customer appreciation event titled 'Memories of THE PLAZA.' Guests can submit photos and stories related to their experiences at the hotel through official social media channels or directly at the hotel until August 31, with a chance to win accommodation vouchers and branded products.A representative from Hanwha Hotels & Resorts stated, 'With the 50th anniversary, The Plaza will transform into a completely different high-end hotel. We thank our customers for their support and look forward to welcoming them back with a new level of space and service.'* This article has been translated by AI. 2026-08-19 08:36:10
  • Raon Secure Joins Upstages AI Foundation Model Consortium to Focus on AI Security
    Raon Secure Joins Upstage's AI Foundation Model Consortium to Focus on AI Security Security firm Raon Secure is joining a consortium led by Upstage to develop a proprietary artificial intelligence (AI) foundation model, focusing on integrating security technology with domestic large language models (LLMs) for practical applications in AI security.On August 19, Raon Secure announced its role in the AI security sector within the Upstage-led AI foundation model consortium.Upstage successfully passed the second phase evaluation conducted by the Ministry of Science and ICT on August 18, advancing to the final third project phase. The company plans to concentrate on the industrial validation and expansion of its own LLM, 'Solar,' aiming to select a final elite team by the end of the year.As a government-designated information security service provider, Raon Secure will combine its extensive experience in security response, white-hat consulting capabilities, and AI security technology with Upstage's Solar. This collaboration aims to automate the work of security professionals and jointly validate the application of autonomous AI security technology in industrial settings.Both companies plan to expand the technologies and validation results obtained from the AI foundation model project into critical national infrastructure and services closely related to citizens' lives. They are also pursuing the commercialization of AI-based autonomous security services that combine domestic LLMs with Raon Secure's AI security and authentication technology, as well as entry into global markets.Kim Tae-jin, Chief Technology Officer of Raon Secure, stated, “The task of developing AI models with domestic technology and protecting those models with domestic technology cannot be separated. We will ensure that the advanced security technologies developed in various fields support the national AI transition and establish security sovereignty.”* This article has been translated by AI. 2026-08-19 08:36:10
  • OpenAI Launches ChatGPT for Teens to Enhance Understanding Over Answers
    OpenAI Launches 'ChatGPT for Teens' to Enhance Understanding Over Answers OpenAI announced the launch of 'ChatGPT for Teens' on August 19, aimed at reducing the emotional dependency of adolescents on AI while enhancing their learning outcomes. The system automatically applies this version when it estimates a user to be under 18 or when a user identifies themselves as aged 13 to 17.The product is designed to encourage teens to understand concepts and solve problems independently rather than simply seeking answers through AI. Students preparing for exams can request explanations of unfamiliar concepts or work through practice problems step-by-step to assess their understanding.If the system detects that a user is attempting to find answers directly, ChatGPT will guide them into 'Study Mode,' encouraging participation in the problem-solving process. This mode was developed in collaboration with teachers, scientists, and education experts, featuring guiding questions, step-by-step learning support, thought process checks, and comprehension verification to assist students in solving problems rather than providing immediate answers.Additional features include a 'Responsible Task Reminder' that nudges users toward Study Mode if they attempt to skip assignments, quiz and learning visualization tools, and a 'Study Hours' function that activates Study Mode by default during times set by teens or their parents.Safety measures tailored for teen users are also implemented. Enhanced protective measures at the model and product levels aim to reduce exposure to harmful or developmentally inappropriate content in high-risk areas such as self-harm, violence, eating disorders, risky behaviors, and explicit sexual or violent content. These standards are based on OpenAI's 'Principles for Users Under 18,' which reflect developmental science research and expert opinions.For accounts linked to parents, they can set usage limits and manage certain settings. Parents will receive notifications if high-risk situations arise.However, OpenAI emphasized that while AI will assist with learning outside the classroom, the use of AI in educational settings should be led by teachers.Features to promote healthy and balanced usage are also included. Users will receive reminders to take breaks after extended use, and the system will continuously inform users that they are interacting with AI to prevent them from mistaking it for a human. According to guidelines for users under 18, ChatGPT is designed not to express romantic feelings or encourage emotional dependency, nor to imply that it possesses emotions or consciousness.Additionally, users are cautioned against sharing personal photos before uploading sensitive images, and initial guidance for teen users introduces learning and safety features. While simple customization options like color and voice are available, the design ensures that useful tools do not blur the boundaries of human relationships.* This article has been translated by AI. 2026-08-19 08:36:00
  • Market Preview: New York Stocks Decline for Third Day Amid Rising Interest Rates
    Market Preview: New York Stocks Decline for Third Day Amid Rising Interest Rates The New York stock market has declined for three consecutive days due to uncertainties in the Middle East and a surge in long-term government bond yields. With semiconductor stocks also facing profit-taking pressures, the domestic market is expected to open lower on the 19th. However, as the recent rise in interest rates has largely been reflected in the previous day's U.S. market, attention is on whether there will be a reduction in intraday losses.On the 18th (local time), the Dow Jones Industrial Average closed down 116.38 points (0.22%) at 53,343.40. The S&P 500 index fell 53.30 points (0.69%) to finish at 7,691.76, while the tech-heavy Nasdaq composite dropped 355.20 points (1.33%) to close at 26,289.71.As negotiations between the U.S. and Iran remain uncertain, rising international oil prices have reignited inflation concerns. President Donald Trump stated that there are no ongoing or scheduled negotiations with Iran, while Iranian officials warned that they would not reopen the Strait of Hormuz until the U.S. fulfills its commitments.Bond yields have also pressured the stock market. The yield on the U.S. 10-year Treasury note reached around 4.70%, while the 30-year yield climbed to 5.33%, marking the highest levels since 2007. The increase in long-term yields has been driven by rising fiscal deficits in major countries and an uptick in corporate bond issuance due to big tech's investments in artificial intelligence.Semiconductor stocks faced significant profit-taking, with the Philadelphia Semiconductor Index dropping 4.98%. Major semiconductor companies, including Micron (-7.06%), SanDisk (-8.89%), and Western Digital (-7.43%), all saw sharp declines. SK Hynix's American Depositary Receipts (ADRs) fell by 9.20%.The domestic market is also expected to open lower due to the weakness in U.S. semiconductor stocks and rising interest rates.In the pre-market on the 19th, as of 8:23 a.m., Samsung Electronics was down 4.8%, and SK Hynix was down 5.7%. Other major semiconductor and tech stocks, including SK Square (-6.6%) and Samsung Electro-Mechanics (-4.8%), also showed weakness.Market analysts believe that while the rise in long-term rates and the adjustment in semiconductor stocks may increase short-term volatility, the likelihood of a repeat of the abnormal supply-demand deterioration seen during the sharp drop in July is low. They note that the valuation burden on the KOSPI has significantly decreased, suggesting that additional downward pressure from rising rates will be limited.Han Ji-young, a researcher at Kiwoom Securities, stated, "The domestic market is expected to open lower due to the rise in long-term rates in major countries, the weakness in U.S. semiconductor stocks, and the sharp drop in KOSPI 200 night futures. However, the pressure from rising rates has largely been reflected in the previous day's sharp decline, so we may see a recovery in intraday losses."She added, "The proportion of single-stock leveraged trading has decreased from over 30% in July to below 5% currently, and the VKOSPI has dropped from the 80-90 point range to around 50 points, indicating that the absolute level of volatility is lower than before. With the KOSPI's forward P/E ratio around 5.6, the valuation burden is not significant, making it more appropriate to prepare for increased short-term volatility due to rising rates rather than expecting further crashes."* This article has been translated by AI. 2026-08-19 08:28:10
  • One in Four Adults in South Korea Affected by Fatty Liver Disease
    One in Four Adults in South Korea Affected by Fatty Liver Disease Contrary to the belief that excessive alcohol consumption is the primary cause of fatty liver disease, a recent study found that one in four South Korean adults suffers from metabolic dysfunction fatty liver disease (MASLD), which is often linked to obesity and diabetes. The risk varies based on lifestyle factors such as diet, exercise, smoking, and sleep.The Korea Disease Control and Prevention Agency's National Health Research Institute reported on August 19 that the prevalence of MASLD among South Korean adults is 24.1%, based on an analysis of data from the National Health and Nutrition Examination Survey.MASLD is a chronic liver disease characterized by the accumulation of fat in the liver, often accompanied by cardiovascular risk factors such as obesity and diabetes. Previously known as non-alcoholic fatty liver disease, it can progress to cirrhosis and is associated with cardiovascular diseases, necessitating ongoing management.The analysis utilized data from 20,311 men and women aged 19 to 80 who participated in the National Health and Nutrition Examination Survey from 2016 to 2021.The research team examined the relationship between MASLD and four lifestyle factors: healthy diet, sufficient physical activity, non-smoking, and adequate sleep.Sufficient physical activity was defined as engaging in moderate-intensity exercise for at least 150 minutes per week or high-intensity exercise for at least 75 minutes per week. Adequate sleep was considered to be an average of 7 to 9 hours per day. A healthy diet was classified as falling within the top 33.3% of the Korean dietary evaluation index.The findings revealed that the more healthy lifestyle habits individuals practiced, the lower their likelihood of having MASLD. Compared to those who followed 0 to 1 healthy habit, individuals adhering to 2 habits had a 17.5% lower chance of having the disease, while those following 3 to 4 habits had a 28.6% lower chance. Notably, practicing a healthy diet, sufficient physical activity, and non-smoking together resulted in approximately a 32% lower risk, demonstrating the most significant difference.This underscores the importance of not viewing fatty liver solely as an alcohol-related issue. The Korea Disease Control and Prevention Agency's National Health Information Portal also emphasizes that MASLD is closely linked to obesity, type 2 diabetes, dyslipidemia, and metabolic syndrome.Kim Min-joo, the lead researcher, stated, "Metabolic dysfunction fatty liver disease is closely connected to various cardiovascular risk factors, including obesity, insulin resistance, and abnormalities in blood pressure and lipids, making lifestyle management crucial."The results of this study were published online in the international journal BMC Public Health on June 24.* This article has been translated by AI. 2026-08-19 08:28:00
  • LG Energy Solution Launches Michigan Lansing Plant, Strengthening North American ESS Production
    LG Energy Solution Launches Michigan Lansing Plant, Strengthening North American ESS Production LG Energy Solution has officially commenced operations at its Michigan Lansing plant, accelerating its efforts in the rapidly growing North American energy storage system (ESS) market.On August 18, LG Energy Solution held an opening ceremony for the Michigan Lansing Plant (LG Energy Solution Michigan-Lansing). The event was attended by key figures including Michigan Governor Gretchen Whitmer, U.S. Secretary of the Interior Doug Burgum, and Congressman Tom Barrett, along with Hong Sang-woo, the Consul General in Chicago, and LG Energy Solution CEO Kim Dong-myung.The Lansing plant is LG Energy Solution's seventh production facility in North America. It will serve as a hybrid manufacturing hub for LFP batteries for ESS and NCM batteries for electric vehicles, with an annual production capacity exceeding 35GWh.The LFP products for ESS will be supplied to major clients in critical power infrastructure and AI data centers through LG Energy Solution's ESS system integration subsidiary, Vertech. As of the end of last year, LG Energy Solution secured approximately 140GWh in ESS orders in North America, with over 3 trillion won in new contracts obtained in the first half of this year alone.The electric vehicle batteries will be supplied to Toyota, the world's largest automaker, for models such as the 2027 Toyota Highlander produced at the Georgetown plant in Kentucky. LG Energy Solution and Toyota previously signed a battery supply agreement in 2023.With the launch of the Lansing plant, LG Energy Solution has completed its 'five production hub' system aimed at penetrating the North American ESS market. It is the only global battery manufacturer to establish such a diversified production system in the region.In particular, for the ESS business, LG Energy Solution plans to secure over 50GWh of LFP battery production capacity in North America by the end of this year, leveraging its proactively built production capabilities. The North American ESS market is rapidly growing, driven by the expansion of AI data centers and power grids.Kim Dong-myung, CEO of LG Energy Solution, stated, "The operation of the Lansing plant is a significant milestone that will accelerate LG Energy Solution's growth in North America. We will strengthen the U.S. battery ecosystem by building a state-of-the-art battery manufacturing network that supports the future of the American mobility industry and energy infrastructure, while expanding local production capabilities."* This article has been translated by AI. 2026-08-19 08:24:20
  • Kiwoom Securities Raises T&L Target Price, Citing Strong Profitability
    Kiwoom Securities Raises T&L Target Price, Citing Strong Profitability Kiwoom Securities reported on August 19 that T&L achieved record-high profitability without the benefit of tariff refunds. As a result, the firm raised its target price from 46,920 won to 48,000 won while maintaining a 'buy' rating.Shin Min-soo, a researcher at Kiwoom Securities, noted, "The gross profit margin for the second quarter rose by 12.4 percentage points year-on-year to 53.4%, surpassing the previous record set in the first quarter." He added, "Since the U.S. clients bear the tariffs, there were no one-time gains from tariff refunds."He further explained, "Starting from the first quarter, production efficiency of raw materials improved, leading to a significant drop in cost rates, and this trend of improving profit margins continued into the second quarter. With favorable exchange rates, we expect to maintain a gross profit margin of over 50% this quarter."T&L's second-quarter revenue reached 56 billion won, a 44.5% increase compared to the same period last year, while operating profit surged by 150.4% to 25 billion won. Although revenue fell short of market expectations by 2.1%, operating profit exceeded forecasts by 11.9%. The operating profit margin stood at 44.6%.Shin analyzed that "the impact of changes in inventory policy since March has dissipated, normalizing shipment volumes."The potential for new market entries through collaboration with 3M is also viewed positively. Shin stated, "Unlike last year, when we faced challenges due to tariffs and inventory policy changes, improved production efficiency will enhance profitability. Collaborating with 3M could facilitate entry into new markets through secured distribution channels."He also assessed that the valuation and dividend appeal are high. Currently, T&L's 12-month forward price-to-earnings ratio (PER) is 7.7, below the average of 10.6 since its listing. Shin projected that T&L's dividend per share (DPS) would reach 1,875 won, a 25% increase from the previous year, indicating an expected dividend yield of approximately 6.1% based on the closing price of 30,750 won on August 18.* This article has been translated by AI. 2026-08-19 08:24:10
  • Coinone Extends Partnership with KakaoBank for Real-Name Account Services
    Coinone Extends Partnership with KakaoBank for Real-Name Account Services Cryptocurrency exchange Coinone has extended its partnership with KakaoBank for real-name verification deposit and withdrawal accounts.On August 19, Coinone announced that it has completed the renewal of its contract with KakaoBank for the issuance of real-name verification accounts. The renewal followed an on-site inspection that reviewed the adequacy of the anti-money laundering (AML) system, and the Financial Intelligence Unit (FIU) has also approved the necessary changes related to the renewal.Coinone has maintained its relationship with KakaoBank since they first partnered in August 2022 for real-name verification accounts. The new contract extends the agreement for an additional year, until August 2027.Both companies plan to expand their collaboration beyond real-name account partnerships to include service integration. Currently, the KakaoBank app offers a 'View My Virtual Assets' service, allowing users to check their cryptocurrency holdings with Coinone and access related services directly.Coinone CEO Cha Myung-hoon stated, "We will do our utmost to create an environment where customers can trade with confidence, based on the long-standing partnership and operational expertise we have built with KakaoBank. We also aim to further expand the scope of our service collaboration between the two companies."* This article has been translated by AI. 2026-08-19 08:24:00
  • LG Chem Introduces Immunocytokine Candidate GNV205 for Solid Tumors
    LG Chem Introduces Immunocytokine Candidate 'GNV205' for Solid Tumors LG Chem announced it has begun preclinical studies for 'GNV205', an immunocytokine candidate acquired from domestic biotech company Genev. This initiative aims to evaluate the potential for developing next-generation immuno-oncology therapies and to expand its cancer treatment portfolio. In September 2022, LG Chem secured exclusive global development and commercialization rights for GNV205 through a contract with Genev, which included an upfront payment and additional conditional milestone payments and sales royalties during the development and commercialization phases. GNV205 is a fusion of a PD-1 antibody that releases immune suppression signals and the cytokine IL-2 (interleukin-2) that activates the immune system. It is designed to optimize activity in the highly acidic tumor microenvironment, allowing IL-2 to act selectively around cancer cells. This approach is expected to minimize systemic toxicity while enhancing the immune therapeutic effect. LG Chem plans to develop GNV205 as a next-generation treatment targeting patients who do not respond adequately to existing immuno-oncology therapies or have developed resistance. Genev, established in 2016, has been developing innovative drugs in oncology and central nervous system fields based on its proprietary drug development platform. Son Ji-woong, head of LG Chem's Life Sciences Division, stated, "We plan to continue expanding our oncology drug projects by balancing in-house research and the introduction of external innovative technologies. This collaboration signifies the expansion of innovative assets discovered by domestic biotech into a next-generation global oncology portfolio." Meanwhile, LG Chem reported a successful turnaround to profitability in the second quarter of this year, exceeding market expectations. The volatility in raw material prices due to conflicts in the Middle East has positively impacted profitability through favorable inventory lag effects. For the second quarter, LG Chem announced consolidated revenues of 14.1759 trillion won and an operating profit of 599.6 billion won. Notably, the life sciences division recorded revenues of 369 billion won and an operating profit of 60 billion won, driven by increased export shipments compared to the previous quarter.* This article has been translated by AI. 2026-08-19 08:24:00
  • Bitcoin Recovers to $64,000 Amid ETF Fund Inflows
    Bitcoin Recovers to $64,000 Amid ETF Fund Inflows Bitcoin's price rebounded to $64,000 as concerns over U.S. interest rate hikes eased, leading to renewed inflows into spot exchange-traded funds (ETFs) and improving investor sentiment.According to CoinMarketCap, Bitcoin was trading at $64,628 as of 8 a.m. on August 19, reflecting a 0.56% increase from the previous day.The rebound is attributed to a reduction in market worries regarding U.S. monetary policy. Recent trends in inflation and employment have led to expectations that the Federal Reserve is less likely to implement further interest rate hikes, reviving interest in riskier assets. As fears of sustained high interest rates diminish, there is a greater likelihood of capital flowing into volatile assets like cryptocurrencies.Additionally, the return of positive fund flows into Bitcoin spot ETFs has contributed to the favorable outlook. On August 17, U.S. spot Bitcoin ETFs recorded a net inflow of approximately $137.3 million, indicating a decrease in selling pressure from institutional investors, who had previously withdrawn about $385.2 million over the last five trading days.Most altcoins also saw price increases. Ethereum rose by 0.57% to $1,914, while Tether increased by 0.03% to $0.99. Ripple and Solana also gained 0.03% and 1.64%, respectively.Meanwhile, as of 8 a.m. on the same day, Bitcoin was trading at 90,840,000 won (approximately $64,269) on the domestic exchange Bithumb, marking a 0.10% decrease from the previous day. The 'Kimchi premium' stood at -0.45%, indicating that the price of Bitcoin traded domestically is lower than that in international markets.* This article has been translated by AI. 2026-08-19 08:20:00