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  • Ingenia Therapeutics Surges 7% on First Day of KOSDAQ Listing
    Ingenia Therapeutics Surges 7% on First Day of KOSDAQ Listing Ingenia Therapeutics is experiencing a 7% increase on its first day of trading on the KOSDAQ market on August 18.According to the Korea Exchange, as of 1:37 PM, Ingenia Therapeutics shares were trading at 12,940 won, up 930 won (7.75%) from the previous trading day.The company opened at 10,960 won, which is 8.67% lower than its initial public offering (IPO) price. The stock initially fell to 9,900 won, representing a 17.50% drop from the IPO price, but later rebounded.Previously, Ingenia conducted a public offering for individual investors on July 30 and 31, achieving a competition rate of 3.09 to 1. The demand forecast for institutional investors, held from July 20 to 24, recorded a competition rate of 50.4 to 1. Consequently, the final IPO price was set at 12,000 won, the lower end of the company's proposed range, raising approximately 60 billion won in total.Founded in 2018 in Boston, Ingenia Therapeutics is a biopharmaceutical company focused on developing antibody drugs to address diseases related to microvascular damage.Han Sang-yeol, CEO of Ingenia Therapeutics, stated, "We have reached a significant turning point with our KOSDAQ listing. We will focus on generating results from our subsequent pipeline and aim to prove our technological capabilities in the global market while growing alongside our shareholders."* This article has been translated by AI. 2026-08-18 13:48:00
  • Ministry of SMEs Supports Traditional Markets in Gyeongnam After Heavy Rain
    Ministry of SMEs Supports Traditional Markets in Gyeongnam After Heavy Rain The Ministry of SMEs and Startups announced that Deputy Minister Lee Byung-kwon visited traditional markets in Gyeongnam on August 18 to assess the damage and listen to the concerns of merchants. He inspected the recovery situation at Gohyeon Market in Geoje and Seoho Market in Tongyeong.According to the Korea Meteorological Administration, record rainfall began on August 15 during the Liberation Day holiday, causing significant damage in the Geoje and Tongyeong areas. As of 9 a.m. that day, the cumulative rainfall in Geoje reached 957 mm.The Ministry reported that the heavy rainfall affected 15 markets in the Gyeongnam region, resulting in flooding and landslides. All 100 stores in Gohyeon Market were reported to have suffered from flooding and landslide damage, while 150 out of 300 stores in Seoho Market were also affected.To ensure timely support for affected merchants, the Ministry is coordinating with local governments, regional SMEs and Startups agencies, and the Small Enterprise and Market Service to establish a response system. They have requested safety inspections from Korea Electric Power Corporation to prevent electrical and gas accidents due to flooding and plan to expedite the recovery process for electrical and gas facilities from the usual 2.5 months to within 10 days.A one-stop support center is being operated to assist with the issuance of disaster verification documents and to provide financial support, including policy funds and guarantees, for rapid recovery.Additionally, a new safety inspection system will be implemented to identify markets vulnerable to flooding, which will be linked to a traditional market safety management package program.Deputy Minister Lee Byung-kwon expressed his condolences to the merchants affected by the heavy rain, stating, "I extend my deepest sympathies to the traditional market merchants who have suffered due to the heavy rainfall. We will closely communicate with relevant departments, local governments, and related agencies to support rapid recovery so that they can return to their livelihoods as soon as possible."* This article has been translated by AI. 2026-08-18 13:44:00
  • Blue House Denies Reports of Semiconductor as First U.S. Investment Project
    Blue House Denies Reports of Semiconductor as First U.S. Investment Project The Blue House stated on August 18 that reports suggesting a semiconductor project is under discussion as the first strategic investment in the U.S. are inaccurate.A Blue House official responded to questions from reporters regarding the strategic investment in the U.S., saying, "We ask for your understanding that we cannot confirm specific details of discussions between South Korea and the U.S."One media outlet reported that the government had initially prioritized the energy sector for the first U.S. investment project, but the negotiation dynamics changed as the U.S. strongly demanded investment in domestic memory production facilities.* This article has been translated by AI. 2026-08-18 13:44:00
  • Young workers hit hardest by job losses in AI-exposed industries
    Young workers hit hardest by job losses in AI-exposed industries SEOUL, August 18 (AJP) - Industries heavily exposed to artificial intelligence (AI) accounted for 94 percent of the decline in jobs covered by the National Pension Service (NPS) among younger workers over the past four years, the Bank of Korea said Tuesday. However, it cautioned that the findings do not prove AI caused the job losses. The number of jobs held by people aged 15 to 29 fell by 285,000 between June 2022 and June 2026. About 268,000 of those lost jobs were in industries with high exposure to AI. Over the same period, the number of jobs held by people in their 50s increased by 230,000 with 173,000 or 75.2 percent, of the new jobs in industries with high exposure to AI. BOK researchers said the trend shows that technology may be making it harder for younger workers to find jobs, while experienced workers are more likely to remain in demand because they can manage or work with AI. The pattern points to a possible hollowing-out of the first rung of Korea's career ladder even though AI has yet to produce a clear economy-wide deterioration in employment. The findings were based on data from about 16 million workers covered by the NPS, along with employment and unemployment data from the country's economically active population. AI exposure was calculated by assessing the technical potential for generative AI to perform or accelerate occupational tasks and then weighting those estimates according to the occupational composition of each industry. The measure therefore captures jobs' potential exposure to AI rather than companies' actual use of the technology, while the findings represent the researchers' analysis rather than the central bank’s official policy position. Youth employment declined particularly sharply between June 2022 and June 2026 in information services, down 31.4 percent, publishing, down 27.4 percent, computer programming and systems integration, down 16.6 percent, and professional services, down 11.6 percent. The losses were larger in industries where generative AI was used primarily to automate tasks, while no comparable pattern emerged in industries where the technology was used mainly to augment human work. Youth employment declines were relatively mild in the highest quartile of augmentation-oriented industries, suggesting that how companies deploy AI may matter more for employment than adoption alone. The deterioration was also visible among educated job seekers, with unemployment among college-educated young people averaging 7.0 percent since November 2022, compared with 5.4 percent among those with junior-college education or less. A broader measure of labor underutilization averaged 9.6 percent among young college graduates, against 8.5 percent for the less-educated group, although BOK researchers cautioned that education is only an indirect proxy for exposure to AI. Average monthly entries by young workers into regular jobs in highly exposed industries fell to 29,100 from July 2022 through June 2026, compared with 32,600 between January 2016 and December 2019. Average monthly exits from those industries into non-employment, meanwhile, rose by about 32 percent to 4,900 from 3,700. The share of young people among newly hired workers also dropped to 29.3 percent from 2024 to 2026 - from 36.9 percent during the six years through 2019, reinforcing evidence that entry into stable employment is narrowing. Despite the concentrated pressure, aggregate employment and unemployment have not yet departed decisively from their longer-term trends, suggesting that the impact of AI is being distributed unevenly across industries, age groups and career stages. An estimated 51.8 percent of Korean workers used generative AI at work in 2025, nearly double the 26.5 percent recorded in the United States. AI is unlikely to be the sole explanation for the decline in youth employment, as companies have also unwound pandemic-era overhiring, shifted toward experienced recruits and reduced their reliance on long-term internal training, BOK researchers said. The spread of remote and hybrid work may have further weakened the informal mentoring through which junior employees traditionally acquired skills from senior colleagues. The findings suggest that AI may be accelerating an erosion of the conventional career ladder that had already begun rather than independently creating the problem. BOK researchers called for AI-era apprenticeship programs combining real workplace assignments, the use of AI tools and structured guidance from experienced employees. They also proposed support for companies' mentoring and training costs, potentially through a "career formation subsidy," rather than relying solely on wage subsidies for young recruits. Tax and financial incentives should remain neutral between investment in technology and investment in human capital so that companies are not encouraged to adopt low-quality automation merely because it is cheaper than training workers, the researchers said. The longer-term outcome remains uncertain, however, as young workers' high rates of AI adoption and adaptability could eventually make them some of the biggest beneficiaries once new tasks and occupations emerge. AJP Takeaways: - AI-exposed industries accounted for 268,000, or 94 percent, of the 285,000 decline in pension-covered youth jobs between June 2022 and June 2026. - Jobs held by people in their 50s rose by 230,000, pointing to what BOK researchers describe as seniority-biased technological change. -Youth job losses were deeper where AI automated tasks but milder where the technology augmented human work. 2026-08-18 13:43:54
  • Water Quality in Busans North Port Improved by 30% After Cleanup Efforts
    Water Quality in Busan's North Port Improved by 30% After Cleanup Efforts Busan's North Port landscape canal, known as Byeollit Canal, has seen a nearly 30% improvement in water quality compared to a year ago.This improvement is attributed to effective on-site management, including the removal of aquatic plants and the installation of floating debris barriers.The Busan Port Authority (BPA) announced on August 18 that continuous environmental maintenance and systematic water quality management have enhanced both the aesthetics and water quality of the North Port landscape canal.According to BPA, compared to the second quarter of the previous year, dissolved inorganic nitrogen (DIN) improved by 66%, dissolved inorganic phosphorus (DIP) by 71%, and dissolved oxygen (DO) saturation by 20%. Consequently, the water quality index (WQI) has improved by approximately 30%.These measurements are part of a post-environmental impact assessment conducted quarterly as part of the North Port redevelopment project. The assessments are carried out by a specialized environmental evaluation agency and include various factors such as water quality, air quality, noise and vibration, and marine sediment.A BPA development department official explained, "The second quarter assessment was conducted at the end of May, right after the removal of aquatic plants and the installation of barriers." He added, "The third quarter assessment was conducted on the 13th, and results are expected in early October."An environmental quality assessment firm stated, "Considering the changes in key water quality indicators and on-site conditions, the ongoing environmental improvement measures have positively contributed to the water quality enhancement of the landscape canal."In addition to water quality indicators, the amount of floating debris entering the canal has significantly decreased. A BPA official noted, "Since the installation of the barriers, the amount collected has decreased by nearly 70-80%, as reported by on-site collection staff."BPA believes that the structure allows debris from outside the canal to enter, and that blocking the entrance has led to physical improvements. The tidal range in the North Port is relatively small, at about 1 to 1.5 meters, making the barrier effective. They noted that conditions differ from ports like Incheon, where the tidal range can reach 8 to 9 meters, making direct comparisons difficult.However, these results are limited to the Byeollit Canal section and do not reflect the overall water quality improvement in the North Port area. There are concerns that seasonal and rainfall variations may cause quarterly fluctuations, indicating the need for ongoing monitoring to assess trends.BPA emphasized that for long-term and fundamental water quality improvement, it is necessary to implement a separate sewer system project led by the city of Busan to prevent sewage inflow from the surrounding urban area. This project aims to separate and treat domestic sewage and rainwater through improved sewer systems.Song Sang-geun, BPA President, stated, "Continuous on-site management and environmental improvement efforts are leading to better water quality in the landscape canal," adding, "We will carefully manage the landscape canal to ensure that citizens visiting the North Port can enjoy a cleaner and more pleasant waterfront space."* This article has been translated by AI. 2026-08-18 13:40:00
  • KOSPI Falls After Initial Surge as Institutional Selling Increases
    KOSPI Falls After Initial Surge as Institutional Selling Increases The KOSPI index initially rose over 2% to recover the 7,200 level but reversed course as institutional selling intensified. Despite foreign buying driven by strong semiconductor stocks, weakness in some large-cap shares limited the index's gains.As of 1:14 PM on August 18, the KOSPI was trading at 6,943.47, down 34.47 points (0.49%) from the previous trading day.The index opened at 7,127.77, up 149.83 points (2.15%), and peaked at 7,216.62 early in the session before declining. It fell back below the 7,000 mark amid increased profit-taking pressure following recent gains.At this time, institutions were net sellers of 1.01 trillion won, while individuals and foreigners were net buyers of 564.1 billion won and 529.7 billion won, respectively, absorbing the institutional sell-off.Among the top market-cap stocks, Samsung Electronics (-0.82%), Samsung Electro-Mechanics (-5.13%), Hyundai Motor (-3.09%), LG Energy Solution (-4.19%), Samsung Biologics (-1.10%), and KB Financial (-0.71%) were all declining. In contrast, SK Hynix (2.37%), SK Square (1.39%), Samsung Life (3.82%), and Samsung C&T (1.36%) were on the rise.Notably, Samsung Electronics, which had shown early strength, reversed its gains and turned negative, while SK Hynix maintained its upward trend, albeit with reduced gains, showcasing a differentiated performance within the semiconductor sector.At the same time, the KOSDAQ index recorded a decline of 18.30 points (2.12%), reaching 846.35. The KOSDAQ started positively but expanded its losses as foreign and institutional selling increased.In the KOSDAQ market, foreigners and institutions were net sellers of 91 billion won and 218.7 billion won, respectively, while individuals were net buyers of 320 billion won, helping to defend the index.Among the top KOSDAQ stocks, Alteogen (-3.50%), EcoPro (-4.70%), EcoPro BM (-5.06%), Rainbow Robotics (-3.59%), Wonik IPS (-0.51%), Rino Technology (-3.11%), and ABL Bio (-3.45%) were all down, while JUSUNG Engineering (3.09%), HLB (0.93%), and EoTechnics (3.71%) saw gains.* This article has been translated by AI. 2026-08-18 13:24:00
  • Vietnams Kim Sang-sik Leads Team to 23 Matches Unbeaten, Eyes ASEAN Cup Final
    Vietnam's Kim Sang-sik Leads Team to 23 Matches Unbeaten, Eyes ASEAN Cup Final The Vietnam national football team achieved a 2-0 victory against Malaysia in an away match, positioning themselves favorably for the final of the ASEAN Modern Cup 2026, often referred to as the 'Southeast Asian World Cup.' Under Coach Kim Sang-sik, the team extended their unbeaten streak to 23 matches, but Kim expressed dissatisfaction with the team's performance.On August 17, local media reported that Vietnam defeated Malaysia 2-0 in the first leg of the ASEAN Modern Cup 2026 semifinals held in Kuala Lumpur. Nguyen Suan Son scored the opening goal in stoppage time of the first half, followed by an own goal from Malaysian defender Paris Danis in the second half, securing a two-goal lead on the road.Vietnam will face Malaysia again on August 19 at My Dinh Stadium in Hanoi for the second leg of the semifinals. With a two-goal advantage from the first leg, they are in a strong position to advance to the final. If they progress, they will host the second leg of the final at home, which is another favorable factor for Vietnam.Two Achievements: Away Goals and 23-Match Unbeaten StreakDespite struggling to create scoring opportunities throughout the first half, Vietnam managed to break the deadlock just before halftime. Nguyen Suan Son headed in a cross from Truong Tien Anh, shaking the Malaysian net.In the closing moments of the second half, an additional goal was scored when Malaysian defender Paris Danis inadvertently sent the ball into his own net while attempting to block a pass from Nguyen Quang Hai, giving Vietnam a 2-0 lead. Vietnam held on to their lead without conceding, securing a valuable away victory.This win marks Vietnam's 23rd consecutive match without defeat (20 wins, 3 draws) under Coach Kim, the longest unbeaten streak in the history of the Vietnam national football team. They have not lost since a 1-1 draw with India in October 2024.In the 2024 ASEAN Cup, Vietnam claimed the title by winning both legs of the final against Thailand and is now seeking to defend their championship in this tournament.Coach Kim Sang-sik: 'We won, but need to improve our performance'However, Coach Kim provided a measured assessment following the match. In a press conference, he acknowledged that while Vietnam achieved victory and kept a clean sheet, they failed to fully implement the tactical movements they had prepared.The repeated interruptions due to VAR reviews and referee decisions also disrupted the flow of the game. Kim noted that Vietnam struggled to maintain control of the match due to ineffective pressing and attacking transitions.Malaysia's coach Tan Cheng Hoe has promised a strong response in the second leg. He recognized Vietnam's quick counterattacks and finishing ability but emphasized that losing one match does not conclude the overall contest, vowing to turn the tide.With Malaysia likely to adopt an aggressive approach from the outset, preventing early goals and maintaining control of the match will be crucial for Vietnam's chances of advancing to the final.* This article has been translated by AI. 2026-08-18 13:24:00
  • Samsung Electronics Service Reaches Final Agreement on Wage and Labor Contract
    Samsung Electronics Service Reaches Final Agreement on Wage and Labor Contract Samsung Electronics Service has reached an early agreement on its 2026 wage and labor contract. Amid a surge in demand for appliance repairs during the heatwave, the company and labor union have joined forces to ensure stable service delivery.According to industry sources, Samsung Electronics Service and its labor union signed the final agreement on August 12 at the Samsung Electronics CS Academy in Suwon, Gyeonggi Province.The signing ceremony was attended by key figures including Kim Young-ho, Vice President and CEO of Samsung Electronics Service; Ko Eun-ha, Vice Chair of the National Metal Workers' Union; and Kim Ji-hoon, Chair of the Samsung Electronics Service Union.This agreement was reached after 12 negotiation sessions that began in April and continued through July. It includes an average wage increase of 4.1%, as well as enhancements to employee benefits such as increased maternity and congratulatory payments, relaxed eligibility for long-term service leave, and a review of reemployment policies after retirement.By finding common ground earlier than in previous years, the company and union aim to alleviate concerns over potential service disruptions during the summer. With a significant rise in service requests for air conditioners and other appliances due to the ongoing heatwave, both parties are focused on minimizing customer inconvenience and improving service quality.A representative from Samsung Electronics Service stated, "With the early conclusion of negotiations, we will respond with enhanced customer service."* This article has been translated by AI. 2026-08-18 13:12:00
  • Samsung Display Resumes Construction of Asan A7 Plant After Five Years
    Samsung Display Resumes Construction of Asan A7 Plant After Five Years Samsung Display is resuming construction of its new factory in Asan, South Chungcheong Province, after a five-year halt, aiming to strengthen its leadership in the small and medium-sized organic light-emitting diode (OLED) market. The company plans to proactively respond to the growing demand for OLEDs in foldable phones and various IT devices such as laptops and tablets.According to industry sources on August 18, Samsung Display held an investment review committee meeting on August 7, where it approved the resumption of structural work on the A7 plant in Asan. The company will begin the construction bidding process this month, with plans to start building in early 2027 and complete the facility by early 2028. The site has been idle since construction was temporarily halted in 2021.The surge in demand for premium displays has driven this investment resumption. Currently, Samsung Display supplies small and medium-sized OLEDs for Samsung Electronics' Galaxy Z series and flagship models, as well as Apple iPhones, through its A3 line in Asan. However, analysts suggest that the existing production lines have reached their spatial limits due to the introduction of new high-performance equipment.The recent expansion of the foldable phone market has also significantly increased display demand. Foldable phones require larger display areas for both cover and main panels compared to traditional bar-type smartphones, meaning that as sales rise, the pressure on display supply increases proportionately. Global PC manufacturers like Dell, HP, and Lenovo are increasing their adoption of OLEDs in IT products, while Apple is also expanding the application of OLEDs to iPads, accelerating demand for medium and large IT panels.The expansion of the A7 line aligns with Samsung's ongoing mega-project investment plans in the Chungcheong region. Samsung Display aims to invest a total of 67 trillion won in the display sector by 2040, developing the Asan facility into a production base for smartphone and IT panels, as well as ultra-high-resolution micro-displays for next-generation extended reality (XR) devices.* This article has been translated by AI. 2026-08-18 13:04:10
  • Hanmi Semiconductor Invests 130 Billion Won to Build Eighth Factory Amid Equipment Shortage
    Hanmi Semiconductor Invests 130 Billion Won to Build Eighth Factory Amid Equipment Shortage Hanmi Semiconductor is increasing global semiconductor equipment supply through a major new investment.On August 18, Hanmi Semiconductor announced that it will establish its 'Eighth Factory' by acquiring a factory from Mercury, located in the Incheon Juwan National Industrial Complex, covering an area of 20,578 square meters (approximately 6,230 pyeong).This acquisition marks the largest area among its existing factories. A total of 130 billion won will be invested, including the purchase cost of 56 billion won. To expedite infrastructure development, the company opted for the acquisition of an existing factory rather than new construction. After remodeling, mass production is targeted for the second quarter of 2027.The Eighth Factory will produce next-generation semiconductor equipment, including TC bonders and hybrid bonders for high-bandwidth memory (HBM), as well as 2.5D packaging equipment and BOC·COB equipment. Once both the Eighth Factory and the hybrid bonder factory, 'Seventh Factory,' which is scheduled for completion in the first half of next year, are operational, Hanmi Semiconductor's total production line will expand to 113,448 square meters (approximately 34,318 pyeong), making it the world's largest production facility for HBM bonders.This decision comes about a year after a significant investment of 100 billion won in the Seventh Factory in 2025. As global semiconductor companies continue to expand their factories, the company aims to proactively enhance its production capacity to secure a competitive edge in the market.According to the Semiconductor Equipment and Materials International (SEMI), global semiconductor equipment sales are projected to grow from $165.9 billion (approximately 244 trillion won) this year to $229.5 billion (approximately 337 trillion won) by 2028.A Hanmi Semiconductor official stated, "Our core competitiveness lies in our ability to supply equipment in a timely manner according to our clients' investment plans. Through the investments in the Seventh and Eighth Factories, we will secure production capacity in advance and respond stably to demand." 2026-08-18 13:04:00