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  • BYD Launches SEALION 6 DM-i Plug-in Hybrid SUV in South Korea
    BYD Launches SEALION 6 DM-i Plug-in Hybrid SUV in South Korea BYD has announced the launch of its next-generation plug-in hybrid (PHEV) SUV, the SEALION 6 DM-i, in South Korea. The vehicle can travel up to 70 kilometers in electric (EV) mode, as certified by the Ministry of Environment, making it ideal for short commutes and maximizing cost efficiency. With over 1.5 million units sold globally, the SEALION 6 DM-i is expected to perform well in the domestic market.According to industry sources on August 17, the SEALION 6 DM-i is currently completing domestic certification processes and is set to be registered as an eco-friendly vehicle. It is anticipated to go on sale as early as this month.The SEALION 6 DM-i is the first model featuring BYD's DM-i technology to be introduced in South Korea. This technology is based on the 'Electric-First Hybrid' philosophy, which prioritizes the electric motor for driving while the engine provides support when necessary. This allows for a quiet driving experience similar to that of an electric vehicle for short trips, while also reducing the burden of charging during longer journeys.The domestic model is equipped with an 18.3 kWh Blade Battery, enabling a maximum driving range of 70 kilometers in EV mode. It also supports a 3.3 kW Vehicle-to-Load (V2L) function and 18 kW DC fast charging, combining the convenience of an electric vehicle with the practicality of a PHEV.Globally, the SEALION 6 DM-i has established itself as BYD's flagship plug-in hybrid model. According to BYD, the cumulative sales of the SEALION 6 DM-i surpassed 1.5 million units last year, making it a best-seller among single plug-in hybrid SUVs.Market research firm Dataforce reported that the SEALION 6 DM-i, known as Seal U DM-i in Europe, achieved total sales of 72,667 units in Europe, ranking first in plug-in hybrid sales. The success of the SEALION 6 DM-i has contributed to a 446% increase in BYD's sales in the Philippines last year. In Brazil, BYD holds approximately 60% of the plug-in hybrid market.The vehicle's success is attributed to its 'electrification' and 'practicality.' A BYD representative stated, "Consumers around the world are responding positively because they can enjoy the benefits of electric vehicles while reducing the burden of charging."* This article has been translated by AI. 2026-08-17 18:04:00
  • Financial Supervisory Service Union Opposes Regional Relocation Plan
    Financial Supervisory Service Union Opposes Regional Relocation Plan The union of the Financial Supervisory Service (FSS) has strongly opposed the government's plan to relocate the agency to a regional area, urging for the withdrawal of the proposal. They argue that since most financial institutions, consumers, and listed companies are concentrated in the metropolitan area, moving the supervisory body could reduce oversight efficiency and lead to consumer harm.In a statement released on August 17, the FSS union stated, "It is a grave mistake to push a supervisory body, which should be at the forefront of financial oversight, back to a secondary position," and demanded an immediate halt to discussions about the relocation.The union criticized recent media reports suggesting that the FSS would be included in the second round of public institution relocations, which the government plans to announce at the end of this month. They claimed that the government is ignoring the voices of consumers and the financial sector, focusing solely on a uniform goal of relocating most public institutions.They emphasized the importance of accessibility to the metropolitan financial sector due to the nature of financial oversight. According to the union, 81.4% of all financial complaints, 91.6% of financial institution headquarters, 88.3% of on-site inspection targets, and 72.7% of listed company headquarters are concentrated in the metropolitan area.The union warned that a physical separation from the financial oversight field would lead to serious consumer harm, noting that FSS employees would have to travel back to Seoul for face-to-face meetings related to hundreds of permits and various reports each year, creating inefficiencies.Concerns were also raised about the increased burden on consumers due to rising supervisory costs. They argued that if business expenses increase due to relocation, it could lead to higher supervisory fees for financial institutions, ultimately passing costs onto consumers through increased loan rates and fees.Additionally, the potential weakening of supervisory capacity due to staff attrition was highlighted. The union stated, "If a significant number of key professionals leave due to the relocation, the supervisory capacity will decline sharply, and consumer harm will spread uncontrollably."* This article has been translated by AI. 2026-08-17 17:52:00
  • Despite Selling Pressure, Securities Firms Overseas Stock Fees Exceed 1 Trillion Won
    Despite Selling Pressure, Securities Firms' Overseas Stock Fees Exceed 1 Trillion Won Domestic securities firms have seen a significant increase in revenue from overseas stock fees, despite 'overseas investors' selling off large amounts of foreign stocks. The total commission income from overseas stock transactions for major securities firms has surpassed 1 trillion won for the first time this quarter.According to the Korea Financial Investment Association on August 17, the second-quarter revenue from foreign securities custody fees (overseas stock fees) for 12 securities firms, including Toss Securities, Mirae Asset, Kiwoom, Samsung, NH, Korea Investment, KB, Shinhan, Kakao Pay, Hana, Daishin, and Meritz Securities, totaled 1.0176 trillion won. This marks a 59.7% increase from the first quarter's 636.4 billion won and is the highest quarterly figure on record.Among the firms, Toss Securities showed the most remarkable growth. Its foreign securities custody fee revenue rose 76.3% from 124.4 billion won in the first quarter to 219.3 billion won in the second quarter, becoming the first domestic firm to exceed 200 billion won in quarterly commission income.Mirae Asset Securities also reported a 54.1% increase, from 115.4 billion won in the first quarter to 177.8 billion won in the second quarter. Kiwoom Securities increased from 80.4 billion won to 135.5 billion won, a rise of 68.5%, while Samsung Securities grew from 78.1 billion won to 121.5 billion won, up 55.6%, both surpassing 100 billion won.Other firms reported the following revenues: NH Investment Securities at 87.1 billion won, Korea Investment Securities at 74.2 billion won, KB Securities at 66 billion won, Shinhan Investment Securities at 57.9 billion won, Kakao Pay Securities at 34.4 billion won, Hana Securities at 21.2 billion won, Daishin Securities at 12.2 billion won, and Meritz Securities at 10.5 billion won.The increase in overseas stock fee income is attributed to a rise in trading volume. In the first quarter, overseas investors' trading volume in the U.S. stock market totaled $149.2 billion, with $78.9 billion in purchases and $68.3 billion in sales. In the second quarter, this volume increased to $170.5 billion, with $84.8 billion in purchases and $85.6 billion in sales.Despite the selling pressure in the second quarter, the overall trading volume expanded. Overseas investors, who had net purchased $10.64354 billion (15.978 trillion won) in the U.S. market in the first quarter, turned to net selling of $775.74 million (1.1003 trillion won) in the second quarter. In the Hong Kong market, net selling increased from $233.76 million in the first quarter to $318.02 million in the second quarter. The domestic market return account (RIA) policy, which offers a 100% capital gains tax exemption for funds returned to the domestic market until the end of May, is believed to have influenced this shift to net selling.In the Hong Kong market, the total trading volume, including both purchases and sales, rose from $2 billion in the first quarter to $2.7 billion in the second quarter. Although overseas stock investors turned to net selling, the increase in overall trading volume led to higher commission revenues for securities firms.A financial industry official stated, “Although overseas stock investors have shifted to net selling, the sales are still included in the trading volume, which translates to commission income for securities firms. The increased market volatility has likely led to more active buying and selling, contributing to the rise in overseas stock fee income.” 2026-08-17 17:44:00
  • KB Kookmin Bank Provides Support for Flood Victims in Gyeongnam
    KB Kookmin Bank Provides Support for Flood Victims in Gyeongnam KB Kookmin Bank is launching emergency support efforts to help residents in Gyeongnam recover from the recent heavy rainfall.On August 17, KB Kookmin Bank announced that it will provide urgent assistance to flood victims and emergency responders engaged in recovery efforts in the affected areas.The bank will first supply shelters (relief tents) to residents living in temporary evacuation centers. As recovery and relief activities ramp up, additional supplies, including emergency relief kits, will be provided. The bank is also preparing to operate food trucks at disaster recovery sites.Financial support will be extended to customers who have suffered actual damage from the flooding.Individual loan customers can receive emergency living stabilization funds of up to 20 million won, depending on the extent of their losses. For businesses, the bank will offer up to 500 million won in working capital and facility funds based on the costs needed for recovery. A special preferential interest rate of up to 1.0 percentage point will be applied to corporate loans. Customers whose loans are maturing can extend their loan terms without additional principal repayments while benefiting from the special preferential rate.To receive support, customers must submit a 'damage verification certificate' issued by the local administrative office to the bank. The application period is within three months from the date of the disaster.A representative from KB Kookmin Bank stated, "We hope this support will assist those affected by the sudden heavy rainfall and those working hard on recovery efforts. We will do our best to help residents in the affected areas return to their daily lives as soon as possible."* This article has been translated by AI. 2026-08-17 17:44:00
  • President Lee sends condolences to Indonesia after quake kills 53
    President Lee sends condolences to Indonesia after quake kills 53 SEOUL, August 17 (AJP) - President Lee Jae Myung expressed condolences on Monday to victims of the magnitude 7.7 earthquake that struck eastern Indonesia over the weekend, killing at least 53 people. "I cannot contain my sorrow at the news that a powerful earthquake in eastern Indonesia has caused great damage," Lee wrote on X, formerly Twitter. "On behalf of the government of the Republic of Korea, I extend my deep condolences to the victims and bereaved families who have lost precious family members and their homes in this sudden disaster," he said. Lee said search operations were still under way and that he hoped more survivors would be found. "As rescue and search work continues, I earnestly hope that even one more person returns safely to the arms of their family," he wrote. He also addressed the Indonesian government directly. "Under President Prabowo Subianto's leadership, I sincerely hope recovery proceeds quickly so that residents of the affected areas soon regain their peaceful daily lives," Lee said. Lee posted the message in both Korean and Indonesian and tagged Prabowo in the text. The earthquake struck at 5:58 a.m. Saturday local time off the northern coast of Flores Island in East Nusa Tenggara province. The United States Geological Survey placed the epicenter 68 kilometers north-northwest of the city of Ende at a depth of 10 kilometers. Indonesia's disaster management agency said at least 53 people had been killed and more than 1,300 homes damaged, over two-thirds of them severely. About 5,000 people have been forced from their homes. Landslides triggered by the quake blocked sections of the Trans-Flores Highway and cut off remote villages, slowing rescue teams. Hundreds of aftershocks followed the initial tremor. Flores has a history of severe seismic disasters. An earthquake of similar magnitude in December 1992 triggered a tsunami that killed about 2,500 people on the island. The South Korean government has not announced humanitarian assistance for the affected areas. 2026-08-17 17:36:16
  • Baseball Legend Baek In-cheon Passes Away, Honored by Family and Fans
    Baseball Legend Baek In-cheon Passes Away, Honored by Family and Fans Baek In-cheon, the legendary former manager who achieved a .400 batting average in the inaugural season of the KBO League, has passed away, prompting deep mourning within the baseball community.According to the Korea Baseball Organization (KBO), Baek's funeral was held on the morning of the 17th at Dankook University Hospital in Cheonan, South Chungcheong Province.The funeral was conducted as a KBO funeral, marking only the second instance of its kind, following former KBO acting president Lee Yong-il. Attendees included KBO President Heo Koo-yeon, Secretary General Park Geun-chan, former police baseball team manager Yoo Seung-an, and family members, all gathering to pay their respects.After the funeral, Baek was laid to rest at Rodem Park in Yongin, following a visit to Cheonan Memorial Park.Baek was found in cardiac arrest at his home in Cheonan on the morning of the 14th and was rushed to a nearby hospital. Despite temporarily regaining blood pressure and pulse after CPR, he ultimately succumbed to a severe condition caused by a brain hemorrhage at 6:41 a.m. on the 15th at Dankook University Hospital.On the day of his passing, all ten KBO teams held a moment of silence before games at five stadiums nationwide to honor the 'immortal hitter.'Born in 1942 in Wuxi, Jiangsu Province, China, Baek fled to South Korea during the Korean War and is regarded as a pioneer of Korean baseball. He played for Kyungdong High School and the Agricultural Bank (industrial baseball) before joining the Toei Flyers (now Nippon Ham Fighters) in Japan's professional baseball league in 1962. He established a solid reputation over 19 years in Japan, retiring in 1981.Upon returning to Korea in 1982, Baek became the first player-manager of the MBC Cheongryong, where he made history by achieving a .412 batting average in the league's inaugural season, a record that remains unbroken after 44 years.As a manager, Baek left a significant mark, leading the LG Twins, who acquired MBC Cheongryong in 1990, to a championship in his first year. He also managed the Samsung Lions and Lotte Giants during his career.* This article has been translated by AI. 2026-08-17 17:36:00
  • President Lee Offers Condolences Following Indonesia Earthquake
    President Lee Offers Condolences Following Indonesia Earthquake President Lee Jae-myung expressed his sorrow over the significant damage caused by the earthquake in eastern Indonesia.On August 17, he wrote on X (formerly Twitter), "I cannot help but feel deep regret upon hearing the news of the severe damage caused by the sudden disaster. On behalf of the South Korean government, I extend my heartfelt condolences to the victims and their families who have lost precious loved ones and their homes."He added, "As rescue and search operations are underway, I sincerely hope that even one more person can safely return to their family."Lee also expressed his hopes for a swift recovery under the leadership of Indonesian President Prabowo Subianto, wishing that the affected residents can quickly return to their peaceful daily lives.Earlier, an earthquake struck the northern coast of Flores Island in East Nusa Tenggara province at 5:58 a.m. local time on August 15, resulting in 51 fatalities by August 16.* This article has been translated by AI. 2026-08-17 17:32:20
  • Farmers Worry About Heavy Rain Damage Ahead of Chuseok Amid Heat and Drought
    Farmers Worry About Heavy Rain Damage Ahead of Chuseok Amid Heat and Drought 폭염과 가뭄으로 농작물 가격이 상승한 가운데 남부지방을 중심으로 극한 호우가 이어지고 있다. 최대 성수기인 추석을 앞두고 상품성이 악화될 수 있다는 농가의 우려가 확산되고 있다. 17일 행정안전부에 따르면 경남과 전남을 중심으로 호우 피해가 집중되고 있다. 이날까지 1명이 사망하고 4명이 다쳤다. 중앙재난안전대책본부는 18일까지 20~60mm가량의 비가 추가적으로 내릴 것으로 예상했다. 이날까지 누적 강수량은 △경남 거제 813.0mm △경남 통영 685.5mm △부산 강서 437mm △제주 서귀포(진달래밭) 375.0mm △경남 사천 360.5mm 등이다. 특히 경남 거제 124.5mm, 부산 강서 101.5mm, 경남 통영 97.4mm 등을 기록했다. 강우량이 시간당 100mm를 넘으면 우산을 쓰는 것이 무의미해지고 농경지 곳곳이 침수되는 수준이다. 이렇게 갑작스럽게 많은 비가 내릴 경우 사과·포도 등 노지 과수에서 상품성이 떨어질 수 있다. 단시간에 비가 집중되는 지역에서는 농경지와 작물 침수 피해도 우려된다. 폭우가 잦아들고 더위가 다시 찾아오면 농산물 작황에 더욱 치명적이다. 폭우로 채소의 뿌리와 과일의 열매 등이 썩은 뒤에 고온다습한 기후가 이어지면 병해충 피해가 확산될 수 있어서다. 대표적으로 탄저병, 무름병 등이 이런 환경에서 창궐한다. 추석을 한달가량 앞둔 시기라는 점도 농가의 우려사항이다. 국내 최대 성수기인 추석 전후로 대규모 농산물 소비가 이뤄지기 때문이다. 이 시기에 과채류의 상품성이 떨어지면 농가의 피해는 더욱 크게 느껴질 수밖에 없다. 호우가 집중된 경상남도는 단감과 배의 주산지인 만큼 농가의 우려가 크다. 폭염으로 농산물 가격이 오른 상황에서 가격 고공행진이 계속될 수 있다는 우려도 나온다. 한국농수산식품유통공사(aT) 농산물유통정보(KAMIS)에 따르면 오이(10개)와 배추 가격(1포기)은 각각 7977원, 3509원으로 1달 새 50.3%, 41% 올랐다. 무와 파도 각각 전달과 비교해 5.7%, 9.8% 가격이 비싸진 상황이다. 폭우 피해가 커지면 수급 상황에 부정적일 가능성이 크다. 정부도 대책 마련에 분주하다. 농촌진흥청은 폭우 피해 등에 대비해 농가가 즉시 실행할 수 있는 배수로 정비와 칼슘제 엽면시비 등 작물별 관리 요령을 현장에 전파하고 있다. 기상 변화에 따른 피해를 최소화하기 위해 지역별 생육 상황을 지속적으로 점검하고 현장 기술지원도 강화할 계획이다. 이승돈 농진청장은 "올여름은 폭염, 가뭄, 호우에 동시에 대응해야 하는 '복합 기상 재해' 상황"이라며 "작물별 생리적 특성을 기반으로 한 생육 단계별 맞춤 대응 전략을 통해 피해를 최소화할 수 있도록 각 기관의 역량을 모아야 한다"고 말했다. * This article has been translated by AI. 2026-08-17 17:28:00
  • Chinas Economic Indicators Decline in July Amid Xi Jinpings Tribute to Jiang Zemin
    China's Economic Indicators Decline in July Amid Xi Jinping's Tribute to Jiang Zemin Xi Jinping, the President of China, emphasized the need to actively respond to the challenges facing the country on August 17, as he praised former President Jiang Zemin's achievements in overcoming significant political and economic upheavals, including the Asian financial crisis. His remarks came on the 100th anniversary of Jiang's birth, coinciding with the release of July's economic indicators, which fell short of market expectations, highlighting a clear slowdown in China's economic growth. Poor July Economic Indicators Highlight Clear Economic Slowdown According to the National Bureau of Statistics of China, retail sales in July increased by only 0.6% compared to the same period last year, falling short of the 1.5% forecast by Reuters and the 1.0% growth rate recorded in June. Industrial production, which reflects corporate activity, also saw a modest increase of 4.5% year-on-year, below the previous month's growth of 5.3% and the market expectation of 4.8%. Fixed asset investment, a key driver of China's economy alongside exports and consumption, also showed weakness. From January to July, fixed asset investment decreased by 6.7% compared to the same period last year, worsening from a 5.7% decline in the first half of the year and falling short of the market expectation of a 6% drop. The urban unemployment rate in July rose to 5.2%, up from 5.0% in June. These economic indicators follow a second-quarter growth rate of 4.3%, the lowest quarterly growth in about three and a half years since the COVID-19 pandemic. Concerns are growing over downward pressure on the Chinese economy due to weak domestic demand and investment contraction. Sun Xiao, the chief statistician at the National Bureau of Statistics, stated, "The external environment is complex and volatile, and the industrial economy is still facing many difficulties and challenges in the process of transitioning from existing growth drivers to new ones." He also pointed out persistent issues such as insufficient effective demand, mismatches between production and sales, and severe cash flow pressures on some industries and companies. Xi Calls on Jiang's Crisis Management Experience, Warns of 'Strong Winds and Rough Waves' As China's economic growth slows, Xi's remarks during the 100th anniversary ceremony for Jiang Zemin drew attention to past experiences in overcoming crises. According to China Central Television (CCTV), Xi attended the ceremony in Beijing and delivered a significant 40-minute speech, reflecting on Jiang's achievements in economic reform, opening up, World Trade Organization (WTO) accession, and foreign and defense policies. Xi particularly noted that Jiang maintained economic development as a core task during a period of rapid international changes and serious political turmoil in China from the late 1980s to early 1990s. He highlighted Jiang's commitment to upholding the "Four Cardinal Principles" of socialism and the leadership of the Communist Party while continuing reform and opening up, asserting the country's independence, dignity, security, and stability through diplomatic efforts. Xi also praised Jiang for navigating through successive crises, including the Asian financial crisis in the late 1990s and the major floods in 1998, while maintaining the momentum of reform and economic growth. He remarked, "Comrade Jiang Zemin made bold decisions at critical junctures in history and calmly responded to risks and challenges." Bloomberg analyzed that Xi presented Jiang's model of economic development, reform, and strong party leadership as a way to navigate current domestic and international pressures. By placing economic growth at the center of policy while maintaining party leadership and social stability, Xi invoked Jiang's experiences as lessons for overcoming the current economic slowdown and geopolitical tensions. Xi stated that in the new journey of the new era, the country must firmly safeguard its sovereignty, security, and development interests while achieving both rapid economic growth and long-term social stability. He emphasized the need to actively respond to significant tests, such as "strong winds and rough waves, and even dangerous torrents," with a strong fighting spirit and exceptional fighting capabilities. The "strong winds and rough waves" mentioned by Xi are interpreted as a comprehensive reference to the domestic and international risks facing China, including geopolitical uncertainties from conflicts in the Middle East, trade and technology tensions with the United States, and issues related to Taiwan, as well as internal pressures from weak domestic demand and investment contraction. 2026-08-17 17:12:00
  • Samsung Fire & Marine Insurance Expands Healthcare Business Beyond Services
    Samsung Fire & Marine Insurance Expands Healthcare Business Beyond Services Samsung Fire & Marine Insurance is refining its healthcare business revenue model. The company is expanding its reach beyond providing health management services to policyholders by offering platforms to businesses and hospitals, as well as operating employee health management programs, thus venturing into business-to-business (B2B) operations.In the long term, the company plans to expand its business areas to include senior and home care in response to an aging society, and to connect personalized health management using medical and financial data. Additionally, it aims to validate whether healthcare services lead to improvements in actual insurance loss ratios and retention rates through data analysis, thereby enhancing its core insurance competitiveness.Lee Hae-sung, head of the healthcare business team at Samsung Fire & Marine Insurance, stated in a recent interview with Aju Economy, "The monetization of the healthcare business can be viewed in terms of indirect and direct revenue. Ultimately, our goal is to enhance customer value by supporting disease prevention, health management, and recovery after treatment, while also strengthening the sustainability of our core insurance business and developing healthcare into a new business model."Lee, an expert in the healthcare and bio fields, has previously worked at Samsung Electro-Mechanics Central Research Institute, Samsung Medical Center's Biomedical Engineering Research Institute, LG Life Sciences, SK Telecom, Johnson & Johnson Innovation Asia Pacific Center, and KT. Since 2023, he has been leading the healthcare business at Samsung Fire & Marine Insurance, which connects insurance and healthcare.Samsung Fire & Marine Insurance plans to accumulate data over a sufficient period to gradually validate the effects of health behavior changes, customer retention, and contributions to the core insurance business. Lee emphasized, "We need to accumulate data to objectively analyze the effects of service usage, health behavior changes, customer retention, and impacts on the core insurance business. Once the effects are proven, we expect to use this as a basis for designing health-promoting insurance products or new coverage and services in the future."The company is also solidifying direct revenue models. This includes paid services that allow existing policyholders to utilize health management services separately, as well as pursuing B2B operations by providing and operating Samsung Fire & Marine Insurance's healthcare platform 'Anyfit' for hospitals and businesses. Discussions are underway with pharmaceutical companies to integrate healthcare services into patient support programs during the new drug launch process, and programs are being operated for corporate employees to manage obesity and chronic diseases among those identified during health screenings.* This article has been translated by AI. 2026-08-17 17:04:20