Aju Press - Asia News Hub

Journalist

Latest by

Davichi Optical Fined $1.1 Million for Forcing Franchisees to Meet Sales Targets Davichi Optical, a chain of eyewear stores, has been penalized by the Fair Trade Commission for compelling its franchisees to meet specific sales targets. This marks the first case of its kind under franchise law regarding 'forced sales targets.'On August 17, the Fair Trade Commission announced it would impose a fine of 1.477 billion won (approximately $1.1 million) on Davichi Optical for violating franchise business laws, along with orders to prevent recurrence, notification orders, and payment orders.According to the commission's investigation, Davichi Optical mandated its franchisees to achieve sales targets based on the sales ratio of specific products. Specifically, franchisees were required to sell a certain percentage of eyewear frames priced over 100,000 won, specific products, and astigmatism correction lenses.Franchisees were monitored monthly for compliance, and those who failed to meet the targets were required to attend workshops and submit recovery plans. If they fell short for three consecutive months, they received notices threatening termination of their franchise agreements, indicating an abuse of their trading position.The investigation also uncovered violations related to the obligation to share costs for store environment improvements. Davichi Optical failed to meet the legal cost-sharing ratio for 15 franchisees who undertook store improvements at the company's request, and it did not cover 20% of the costs for new signage that it mandated.Additionally, the commission found that Davichi Optical conducted 652 advertising campaigns and 87 promotional events without the consent of all franchise owners, relying only on the approval of a few representatives.As a result, the Fair Trade Commission has issued a prohibition order, notification order, and imposed a fine of 1.477 billion won.A commission official stated, 'This action is the first case where setting sales ratios for specific products is considered a forced sales target. We will continue to monitor unfair practices that deprive franchise owners of their management freedom and shift costs onto them.'* This article has been translated by AI. 2026-08-17 12:04:10
Samsung Awards Scholarships to International Olympiad Representatives Samsung Electronics and its affiliates, Samsung Biologics and Samsung Bioepis, awarded scholarships to students representing South Korea at the International Olympiads, emphasizing their commitment to nurturing talent in science and technology.On August 11, Samsung Electronics' Device Experience (DX) division presented scholarships to six winners of the International Mathematical Olympiad at its Suwon campus. The Device Solutions (DS) division followed suit on August 13, awarding scholarships to five winners of the International Physics Olympiad at its Hwaseong campus, the company announced on August 17.Both division heads, Noh Tae-moon, CEO of the DX division, and Jeon Young-hyun, CEO of the DS division, personally participated in the award ceremonies.On August 14, Kim Kyung-ah, CEO of Samsung Bioepis, awarded scholarships to four winners of the International Biology Olympiad at the company's Songdo headquarters. After the ceremonies, the CEOs shared a lunch with the winners and their parents to offer encouragement.This year, the South Korean delegation achieved remarkable success, with all participants in physics (from 91 countries) and biology (from 78 countries) winning gold medals, securing first place overall in both subjects. In mathematics, the team earned three gold medals, two silver medals, and one honorable mention, finishing sixth overall.The scholarship initiative aims to highlight the importance of fundamental sciences and support future talent in science and technology. Since June 2025, Samsung Electronics has been collaborating with the Korean Mathematical Society and the Korean Physical Society, while Samsung Biologics has partnered with the Korean Society of Biology Education since January 2026 to continuously support national team selection, training, and participation fees.In addition to supporting the Olympiads, Samsung has been sponsoring the national team for the International Skills Olympics since 2007 and has been actively recruiting outstanding technical talent from high schools. The company also runs the 'SSAFY' program, which provides software and AI training for unemployed youth, further expanding its support for science and technology infrastructure.* This article has been translated by AI. 2026-08-17 12:04:00
Construction Association Faces Backlash Over 10 Billion Won Rental Fraud "I thought it would be safe since it was a building owned by a government-related organization. I never doubted it."A resident, referred to as A, signed a jeonse (long-term lease) contract for an officetel in Samseong-dong, Gangnam, based on trust in the 'credibility' of the property owner, the Construction Technology Association, a legal entity under the Ministry of Land, Infrastructure and Transport. Association staff held seminars in the building's basement, and the property manager personally addressed any issues that arose. A extended the contract and lived peacefully for five years based on this trust.However, in September 2023, A received a sudden notice demanding immediate eviction. The rental company had failed to pay rent to the association for several months, leading to the termination of the lease. The tenants had received confirmed dates and completed their residency registrations. At the time of signing, the real estate agent assured them it was a "safe property." Yet, none of the tenants received their jeonse deposits back. A total of 28 households were affected, with losses amounting to 10 billion won. The main culprit was a company with a mere 10 million won in capital.This company, Sovereign State, primarily engaged in leasing and management, had leased the entire annex from the Construction Technology Association and then re-leased it to individual tenants through a master lease arrangement. The tenants' contracts were with Sovereign, not the association, and their deposits were paid into Sovereign's corporate account. In this structure, even if Sovereign defaulted on rent and the contract with the association was terminated, the tenants had no legal basis to claim their deposits back from the original landlord, the association.Moreover, the original contract between the association and Sovereign included a confidentiality clause, preventing most tenants from realizing they were in a sublease agreement. This effectively blocked tenants from identifying the structural risks beforehand. The special terms in the contracts stated that the agreement was "approved by the association" and included a clause absolving the association of any responsibility. While the association's credibility lured tenants into trusting them, it also meant the association bore no responsibility in case of disputes.The problem was that the total deposit amount of 10 billion won was significantly understated in the sublease contract submitted by Sovereign to the association. For seven years, the association did not verify whether the rental payments were being made or the actual size of the deposits. It was only five months after the rent was overdue that the association notified tenants to vacate in September 2023.From young professionals to three foreign nationals, those who trusted the 'credibility' found themselves in a deeper trap. In a civil trial, the court recognized Sovereign's liability for damages, but the company had already lost its ability to repay, making it virtually impossible for tenants to recover their deposits. The deceptive sublease structure that amassed 10 billion won using the association's credibility remains in a regulatory blind spot."All my savings are gone"... Only a 3 million won bill remainsIn January 2024, the association filed an eviction lawsuit against the tenants of the annex and carried out forced evictions with court bailiffs. Subsequently, the association billed the households that exceeded the eviction deadline for usage fees amounting to 3 million won per month.The tenants' lives were shattered. Tenant B lost their entire deposit and had to move back in with their parents. B lamented, "I lost my savings, and now options like applying for housing or rental properties are gone." Tenant C, during the ongoing lawsuit, suffered a relapse of a previously cured illness due to extreme stress and passed away in 2024. Currently, C's husband is continuing the legal battle. Tenant D moved in using an inheritance from their mother, who passed away after battling cancer, but fell victim to the rental fraud just a month and a half later.While the tenants continue their deposit recovery lawsuits, the association's annex officetel is still accepting new tenants and operating normally. The current management company, Genstar Mate, was selected for asset management services in January 2025. According to the Public Procurement Service, the association posted a bid notice for "Construction Technology Association Asset Management Services" on December 31, 2024, and selected Genstar Mate as the winning bidder after a restricted competition bidding process.The investigative team from Aju Economy conducted tenant consultations for the officetel on the 23rd and 24th of last month. Genstar Mate stated that the previous rental fraud and forced eviction issues were "problems of the former company and are currently being resolved," asserting that they were appointed as the asset management company by the association. However, they also claimed, "Since the association is a public institution, there are no issues with the deposits," using the term 'public' to leverage the association's credibility.At a real estate agency in Gangnam, a representative stated, "The association cannot lease directly, so they delegated it to an external company," providing misleading information. The Construction Technology Association, which started as a private organization in 1987 and became a legal entity in 1995, has provisions in Article 5, Section 12 of its bylaws regarding the leasing and management of properties and facilities. Despite having no legal issues in acting as a direct party to lease contracts, incorrect explanations continue to be given.In the past, brokers and Sovereign leveraged the association's high credibility while failing to adequately inform tenants of the risks associated with sublease agreements. Recently, some improvements have been noted, with management companies and brokers providing prior information about past incidents or contract structures. Nevertheless, key information affecting contract safety, such as the association's actual legal status and ability to lease directly, continues to be misrepresented. While some risk factors are disclosed, the issue of information asymmetry, making it difficult for tenants to accurately assess contract safety, remains unresolved.Meanwhile, documents obtained by the investigative team reveal that Sovereign's business scope was not limited to the annex. Notices were sent to tenants in the main building, indicating that they would take over sublease contracts due to the termination of the lease with Sovereign. This has led tenants to strongly suspect collusion between the association and Sovereign regarding the transfer of leasing rights for the two buildings.In response, an association official stated, "It is difficult to provide specific answers as civil and criminal lawsuits are ongoing. We will explain after the trial concludes," adding that the forced evictions were a "legitimate action based on a court order."Newly Established Company Secures 10-Year Lease Rights in 57 DaysSovereign State, a newly established company with only 10 million won in capital, was selected as a long-term tenant for the Construction Technology Association's annex in April 2014. Despite the large-scale damages incurred, the association has yet to clarify the initial leasing process that led to the incident.During the civil lawsuit, the tenants requested the court to order the submission of all documents related to the tenant selection announcement, evaluation criteria, and board meeting minutes. However, the court dismissed this request, leaving the allegations of collusion in the selection process unverified.The reasons for the dismissal are disputed. Tenants argue that the association had no evaluation process and that no related documents or minutes exist, effectively blocking proof of existence. Conversely, the association claims it was dismissed on the grounds that it was unrelated to the sublease contract dispute. If the tenants' claims are true, the absence of such documents would directly contradict the association's own bylaws, which state in Article 39 that "leasing of significant assets must be approved by the board of directors," and that minutes must be kept and stored.While other service contract announcements issued around the same time remain available on the Public Procurement Service and association websites, the specific lease announcement for the annex cannot be found. The association stated, "We believe it was selected through a competitive bidding process," but has not provided any supporting documentation.The rapid acquisition of a 10-year lease by a newly established company within two months recalls the notorious 'Whimoon High School Foundation incident,' where a foundation pre-selected a specific company, established a corporation, and entered into a contract, leading to revelations of collusion and deposit misappropriation during the trial.Particularly, the association's history of opaque contracting practices amplifies suspicions. In a comprehensive audit by the Ministry of Land, Infrastructure and Transport in 2016, the association received a warning for entering into a private contract with a specific company despite receiving multiple proposals. In a 2021 audit, it was found that the association had proceeded with a private contract without a competitive bidding process, solely based on board approval. This raises concerns that the current lease agreement for the annex may have been handled in a similarly opaque manner.Tracking Accounts Reveals Misappropriation of Tenant Deposits for Electric Vehicle Charging StationsIt has been confirmed that a significant portion of the approximately 10 billion won in jeonse deposits paid by tenants into Sovereign State's corporate account was funneled through the personal account of CEO Choi or directly transferred to a related company, Sovereign EPS. The misappropriated deposits were reportedly used for real estate purchases in the Songdo area.When the investigative team visited the parking lot of the Rich Central Building in Songdo on the 24th of last month, they found that the electric vehicle charging station, once promoted as the largest in the country by Sovereign EPS, had been dismantled without a trace. The charging facilities, which included rapid chargers for a total of 60 vehicles, were completely removed, leaving only a crumpled opening ceremony banner behind.Sovereign EPS purchased the parking lot and car wash within the Rich Central Building for 3.689 billion won in the summer of 2022. As the company aggressively expanded, its debts spiraled out of control. An insider familiar with the situation stated, "At that time, total liabilities exceeded 30 billion won," adding that the structure involved using tenant deposits and external investments to cover debts. According to the first-instance ruling, Choi was aware of the liquidity crisis as early as April 2023, when rent payments began to fall behind. Nevertheless, he continued to sign contracts with new tenants and collect deposits.In April, the Seoul Central District Prosecutors' Office charged CEO Choi with fraud and forgery of documents, while director Yoo was charged with fraud and auditor Lee with forgery of documents, all without detention. Sovereign EPS was declared bankrupt in November of the previous year and is now in the liquidation phase, with related properties being auctioned off.Winning a Lawsuit but Unable to Recover 10 Billion Won: Ongoing AppealsIn November of last year, the Seoul Central District Court ruled partially in favor of 25 tenants who filed a damages claim against Sovereign. The court accepted all claims against Sovereign State and most claims against Choi and Yoo, excluding some interest on delayed damages. While the ruling opened a path for recovering deposits, the company's inability to repay makes actual recovery nearly impossible.The victims also sought legal accountability from the association, the primary landlord, arguing that the association had completed the establishment of the jeonse rights with Sovereign and neglected management and oversight despite being aware of the tenants' actual residency. However, the first-instance court ruled that the association had no legal obligation to manage or oversee the total amount of the sublease deposits, dismissing the claims. The court also rejected the victims' assertion that the association should have known about Sovereign's fraudulent activities, citing that Sovereign submitted forged contracts, making it impossible to ascertain the actual deposit amounts.Instead, the court imposed varying degrees of liability on the real estate agents who brokered the fraudulent leases, assigning them 20-40% of the compensation responsibility based on their negligence. Additionally, the Korea Association of Realtors and Seoul Guarantee Insurance, which had contracts with these agents, were also held jointly liable within the limits of each agent's guarantee. As a result, victims can now seek compensation not only from Sovereign and the brokers but also from the real estate association and the insurance company.The Korea Association of Realtors stated that "an appeal is ongoing, and once the ruling is finalized, claimants can request payment from the guarantee fund." Regarding the agents found liable, they added, "Members whose qualifications and registrations are canceled will lose all rights against the association." Seoul Guarantee Insurance (SGI) stated, "As individual contract conditions vary and involve financial transaction information, we cannot provide specific details at this time," but assured that they would comprehensively verify the occurrence of an insurance incident and related facts if a claim is filed.Need for Systematic Reforms: Caution Advised in Sublease ContractsThis incident highlights the legal and systemic blind spots associated with sublease agreements. Attorney Kim Dae-jin, head of the Housing Tenant Legal Support Center, pointed out the limitations faced by subtenants who cannot directly assert rights against landlords and must rely on tenants to exercise their rights on their behalf. The financial structure of leasing companies is also a concern. Kim explained, "Companies contract with landlords on 'high rent and low deposit' terms, while with subtenants, they use 'low rent and high deposit' terms to secure initial funds. This discrepancy often leads to financial difficulties."Attorney Woo Won-sang emphasized the issue of 'information asymmetry' that can arise before contracts are signed. Unlike landlords, sublessors do not appear in property registration documents, making it challenging for subtenants to verify whether the other party is the true rights holder.To address these issues, it has been suggested that public institutions, such as legal entities, should mandate minimum requirements like capital or insurance for subleasing companies when selecting them. Attorney Eom Jeong-sook noted that "without legislative changes, it can be realistically implemented through supervisory guidelines or amendments to bylaws and internal regulations of the relevant departments."Attorney Seok Seung-il pointed out that while requirements like capital or operational history may serve as minimal thresholds, they are unlikely to provide fundamental solutions. He stated, "Considering that the capital is not necessarily retained within the company, such requirements may not be effective in resolving the issues."He proposed a system that disperses risk externally, suggesting that a portion of the deposit be held by the landlord or a third party (such as a trust company) or that a guarantee insurance certificate for the deposit be issued and submitted, or that contract details be reported to the relevant authority. Implementing such measures could significantly prevent potential damages. Attorney Woo Won-sang also suggested utilizing subtenants' rights registration orders through tripartite contracts or specifying the original landlord's joint liability as part of specific systematic reforms.Conversely, there are calls for caution regarding increasing the original landlord's liability. Professor Seo Jin-hyung of Kwangwoon University expressed concern that imposing excessive responsibility on landlords could lead to moral hazard among intermediate tenants. If an intermediate tenant disappears after leasing at a high deposit, the original landlord could paradoxically bear the responsibility. Professor Seo cautioned, "Legally, it is difficult to completely prevent such damages," urging tenants to thoroughly verify their contractual counterparties and rights relationships.Experts unanimously warned against the inherent risks associated with sublease agreements. Kim In-man, head of the Real Estate Economic Research Institute, stated, "Given the nature of subleases, there are often no adequate means of recourse when issues arise, making it advisable to avoid such contracts altogether." Attorney Kim Dae-jin also advised that subtenants, who may not receive even minimal tenant protections, should avoid subleases above a certain amount. He emphasized, "If a contract is unavoidable, ensure thorough verification of ownership, landlord consent, and the amount of any prior deposits, and reconsider the contract if such information is not transparently provided."Meanwhile, the criminal trial for Sovereign's CEO Choi and director Yoo is scheduled to take place on the 21st.* This article has been translated by AI. 2026-08-17 12:04:00
Korean Lunar Probe to Head to Moon's South Pole by 2030 The Korean Aerospace Research Institute's 'Lunar Surface Radiation Detector (LVRAD)' is set to be launched to the Moon's south pole aboard a U.S. private lunar lander in 2030.On August 14, the institute announced that it signed an implementation agreement with NASA for the transportation of LVRAD on the lunar lander as part of the 'Commercial Lunar Payload Services' program.LVRAD is designed to measure cosmic radiation on the lunar south pole. It consists of a radiation dose and spectrometer to measure radiation penetration and a neutron spectrometer to assess the neutron environment. The data collected will be used to analyze the effects of radiation on the lunar lander and astronauts during both manned and unmanned missions.The institute plans to complete the development of the flight model by 2027 and transport it to the U.S. in line with NASA's lunar lander schedule. The launch is scheduled for 2030, but it may change depending on NASA's timeline. NASA will support the operation and data transmission of the detector on the lunar surface after the launch.However, the schedule for the payload is not solely determined by the Korean side. The private lunar lander carrying LVRAD is being developed by Intuitive Machines, which will include a total of seven scientific instruments, including LVRAD.Oh Tae-seok, head of the Korean Aerospace Research Institute, stated, "This implementation agreement will further solidify the collaboration between the institute and NASA for future lunar base development. We will continue to expand international cooperation to enhance lunar exploration technologies and strengthen our contributions to the global space science community." 2026-08-17 12:04:00
Debate Over Constitutional Amendment Heats Up on Liberation Day President Lee Jae-myung has proposed a constitutional amendment to change the presidential term to a four-year, two-term system and to decentralize some powers. This has sparked a flurry of debate within conservative circles. While many hold a negative view, some members of the People Power Party have suggested that the opposition should engage in discussions about the amendment, provided that the president declares he will not seek re-election.On the 17th, according to the People Power Party, Representative Kim Tae-ho stated on his Facebook page the day before, "If President Lee shows his intention not to seek re-election, I believe both parties can sincerely begin discussions on constitutional amendments."Kim emphasized, "If it is something that can help South Korean politics move forward and is for the benefit of the people, I will engage in dialogue with anyone."In contrast, party leader Jang Dong-hyuk and other leaders maintain a negative stance toward the president's proposed amendment. During a protest against infringement of voting rights on August 15 at Olympic Park in Songpa, Seoul, Jang raised his voice, saying, "We must ensure that Lee Jae-myung's re-election amendment is blocked at all costs."Chief Spokesperson Park Seong-hoon also spoke with reporters at the National Assembly the same day, stating, "The president's push for a constitutional amendment is a 'build-up' process to avoid prosecution after leaving office through an amendment that would allow for re-election. This discussion is being misused for personal protection, unrelated to the people or their livelihoods."Earlier, floor leader Jeong Jeom-sik criticized the amendment on his Facebook page on the 14th, saying, "No matter how you phrase it with terms like 'decentralized' or 'issues with the imperial presidency' or 'strengthening the National Assembly's powers,' the essence remains the same. It is an attempt at a 'prison break' through constitutional amendments to escape the president's judicial risks."He added, "If the president truly has even a shred of sincerity regarding the amendment, he should come forward and promise, 'There will be no re-election' and 'I will face trial immediately.' Without such promises, the government and ruling party's discussions on constitutional amendments will not gain any cooperation from the opposition."Opposition to the president's proposed amendment is widespread not only within the People Power Party but also across the conservative spectrum. The Reformist Party issued a statement on the 14th through spokesperson Lee Dong-hoon, saying, "There are repeated mentions of 'the people's choice' from those around the president. Do not try to deceive the public by hiding the possibility of extending power behind the guise of constitutional amendments. The president should first declare he will not seek re-election."Independent lawmaker Han Dong-hoon also issued a strong message against conditional amendments. On the same day, he stated on Facebook, "The president's proposed constitutional amendment will ultimately serve to resolve Lee Jae-myung's judicial risks. We must not fall into the trap of the 'Lee Jae-myung amendment' frame, even if it is conditional. We must protect the constitutional barrier that the people have worked hard to maintain."Meanwhile, President Lee stated on August 13 on his X (formerly Twitter) account, "My pledge and consistent position is to propose a constitutional amendment to change the presidential term to a four-year, two-term system, enabling responsible politics through mid-term evaluations and strengthening local autonomy and the basic rights of the people."He added, "If shortening the presidential term is necessary for the amendment, I am willing to accept that, which was my official position during the 2022 presidential election, and that thought remains unchanged."* This article has been translated by AI. 2026-08-17 11:56:00
Trump Orders Major Reduction of US-South Korea Military Drills Amid North Korea Outreach President Donald Trump directed a significant reduction in US-South Korea military exercises on August 16, 2026, signaling a softer approach toward North Korea while increasing pressure on South Korea.According to reports from AP and Reuters, Trump explained on his social media platform Truth Social, "Given that Chairman Kim Jong Un and I have a very good relationship, I am not pleased that the United States has long agreed to participate in joint military exercises with South Korea." He added, "It is too late to cancel the exercises, so I have instructed Defense Secretary Pete Hegseth to significantly reduce the joint military drills."Trump expressed dissatisfaction with the upcoming joint exercises, known as the Ulchi Freedom Shield (UFS), which are set to begin on August 17 and run until August 27.He criticized the exercises for being costly to the US and potentially provocative to North Korea. Trump stated that the joint drills are "very expensive," with a significant portion of the costs borne by the US, as usual.He also remarked that sending "entirely inappropriate and hostile signals" to countries that have not threatened the US and have shown respect is unacceptable. This suggests that Trump views North Korea not as an adversary but as a potential partner for improved relations.Given North Korea's strong criticism of the US-South Korea joint exercises as "invasion war drills," the reduction in military drills could be interpreted as an effort to ease tensions and create conditions for dialogue between the US and North Korea. Trump previously halted major US-South Korea military exercises to facilitate diplomatic efforts with Kim Jong Un, notably canceling the Ulchi Freedom Shield in 2018 after their first summit.Additionally, Trump posted a photo with Kim Jong Un on Truth Social the day before, highlighting their personal rapport. With increasing diplomatic pressures from the Iran conflict, there are indications that Trump may seek to resume talks with North Korea to showcase short-term diplomatic achievements ahead of the November midterm elections.Some analysts suggest that Trump's directive may also be a form of pressure on South Korea. He mentioned the reduction in drills alongside South Korea's refusal to participate in the Iran war. While he noted that the two issues might be "somewhat unrelated," there are speculations that his dissatisfaction with South Korea is reflected in the decision to reduce military exercises.Moreover, progress on a $200 billion investment project agreed upon during recent US-South Korea tariff negotiations has stalled. Adam P. Bloom, a senior analyst at Bloomberg Economics and former director for Korea and Mongolia at the National Security Council under both the Trump and Biden administrations, stated that the lack of progress on the investment agreement or the refusal to support the Iran war could reflect dissatisfaction with the South Korean government.The Financial Times pointed out that this move could heighten concerns among US allies in the Indo-Pacific, such as South Korea and Japan, about the reliability of the US as a security partner during Trump's presidency.In response, the Blue House issued a statement emphasizing that the US and South Korea have closely coordinated to maintain a robust joint defense posture and conduct joint exercises and training. They expressed hope that the friendly relationship between the US and North Korea would lead to meaningful dialogue, advancing peace and stability on the Korean Peninsula. 2026-08-17 11:40:00
Korean trade minister flies to US as $200 bln deal snags SEOUL, August 17 (AJP) - South Korea's industry minister arrived in Washington on Sunday and said that detailed disputes had surfaced in the final stretch of talks over a $200 billion investment package, casting doubt on a late-August announcement of the first project Minister of Trade, Industry and Resources Kim Jung-kwan told reporters at Dulles International Airport on August 16 (local time) that video conferences and working contacts had not resolved the issues and that the whole file needed sorting in one pass. The end of the month remains the goal, he said, though more has come up than expected. He made the trip three weeks after his last visit and without a chief trade negotiator. President Lee Jae Myung removed Yeo Han-koo from the post effective midnight on Aug. 15 through compulsory dismissal, a step rarely used against a political appointee, and gave no reason. No successor has been named. The $200 billion is the strategic investment portion of a $350 billion commitment made under last year's tariff agreement, which cut U.S. tariffs on Korean goods from 25 percent to 15 percent, with $150 billion allocated to shipbuilding. A joint fact sheet and a strategic investment memorandum released on Nov. 14 set the total to be pursued by January 2029 and capped outflows at $20 billion a year. Kim said he had received no warning that tariffs would rise if Seoul did not move faster. He said Trump had been calling for speed since early this year and that Seoul shared the aim, with a year already passing. Trump wrote on Truth Social on Jan. 26 that because the National Assembly had not enacted the trade deal, he was raising tariffs on Korean automobiles, lumber and pharmaceuticals and all other reciprocal tariffs from 15 percent to 25 percent. The increase was not carried out, and the National Assembly passed the special law on Korea-U.S. strategic investment on March 12. The tariff ceiling is the second front. The U.S. Trade Representative opened two Section 301 investigations in March, one into forced labor and one into structural overcapacity, and Korea was a target of both. The forced-labor measure took effect July 24 and raises most-favored-nation rates up to 12.5 percent rather than adding 12.5 points on top of them. The overcapacity finding has not been issued. Seoul's position is that the combined total must not exceed 15 percent. Kim said Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer had both said they would honor the spirit of the agreement, and that he would not prejudge the outcome. Washington had indicated late August for the overcapacity result, he said, but it now felt like it was running longer. He would not confirm that combined-cycle power generation remained the leading candidate for the first project, saying only to wait and see. Three weeks ago he said the first project was being discussed with energy at the center. Commercial reasonableness is the governing principle, and the law permits only investments whose principal and interest can be repaid over the investment period. Among the candidates Washington has proposed, few have been found commercially viable. Japan closed its tariff talks in July 2025 and announced its first two projects in February and March. Korea finished about three months later and has yet to name one. 2026-08-17 11:25:14
'Odyssey' Surpasses 5 Million Viewers in 13 Days, Tops Weekend Box Office for Two Weeks The film 'Odyssey' has surpassed 5 million viewers just 13 days after its release.According to the integrated ticketing system on August 17, 'Odyssey' exceeded 5 million cumulative viewers as of 10:22 a.m. on that day.This pace is similar to that of Christopher Nolan's domestic blockbuster 'Interstellar,' which reached 5 million viewers in 12 days.In comparison to other successful films this year, 'Odyssey' achieved this milestone faster than 'The King’s Affection,' which reached 5 million in 18 days, and 'The Army of the Dead,' which did so in 24 days. It also outpaced last year's box office hits 'Zootopia 2,' which hit 5 million in 19 days, and 'Avatar: The Way of Water,' which did so in 17 days.The film's weekend performance remained strong. The integrated ticketing system reported that 'Odyssey' attracted approximately 1.69 million viewers from August 14 to 16, surpassing its opening weekend figure of 1.33 million. It has held the top spot at the weekend box office for two consecutive weeks.The film also maintains a leading reservation rate. As of 10:25 a.m. on August 17, 'Odyssey' recorded the highest reservation rate for 15 consecutive days, indicating strong potential for continued success.Audience reactions further support its box office success. Positive reviews regarding the direction, music, sound, and performances by the cast have been noted on online ticketing sites and portals. The film is being recognized as suitable for family audiences, contributing to positive word-of-mouth.Having surpassed 5 million viewers in just 13 days, 'Odyssey' is currently showing in theaters nationwide.* This article has been translated by AI. 2026-08-17 11:16:00
MONSTA X Captivates 60,000 Fans at Istanbul Festival 그룹 몬스타엑스가 튀르키예 관객들과 만났다. 몬스타엑스(MONSTA X)는 지난 15일 현지시간 튀르키예 이스탄불 페스티벌 파크 예니카프에서 열린 ‘이스탄불 페스티벌(Istanbul Festival)’ 무대에 올랐다. 올해로 5회째를 맞은 ‘이스탄불 페스티벌’은 튀르키예의 대형 음악 축제 중 하나다. 이날 현장에는 약 6만명의 관객이 모인 것으로 전해졌다. 몬스타엑스는 ‘드라마라마(DRAMARAMA)’로 공연을 시작했다. 객석에서는 한국어 가사를 따라 부르는 떼창이 이어졌고, 한국어로 적힌 플래카드도 곳곳에서 포착됐다. 이어 ‘러시 아워(Rush Hour)’ 무대에서는 보컬과 퍼포먼스를 앞세워 공연 분위기를 끌어올렸다. 멤버들은 무대 중간 오랜만에 튀르키예를 찾은 소감을 전하며 현지 팬들에게 인사를 건넸다. 공연은 강렬한 곡과 감성적인 무대를 오가며 구성됐다. 몬스타엑스는 ‘더 드리밍(The Dreaming)’과 ‘그로잉 페인스(growing pains)’로 보컬 중심의 무대를 선보였고, 관객들은 휴대전화 플래시를 켜고 호응했다. 아티스트 Q&A 시간도 마련됐다. 셔누와 주헌은 과거 방송 촬영 이후 다시 튀르키예를 찾은 소회를 전했고, 멤버들은 다음에는 아이엠까지 함께 완전체로 다시 오고 싶다는 뜻을 밝혔다. 이후 ‘러브 킬라(Love Killa)’, ‘두 왓 아이 원트(Do What I Want)’, ‘버닝 업(Burning Up)’ 무대가 이어졌다. 객석에서는 다시 한국어 떼창이 이어졌고, 관객들은 노래를 따라 부르며 무대에 호응했다. 공연이 끝난 뒤에는 앙코르 요청이 이어졌다. 몬스타엑스는 다시 무대에 올라 ‘존(ZONE)’을 선보이며 공연을 마무리했다. 몬스타엑스는 소속사를 통해 “튀르키예 몬베베들을 직접 만날 수 있어 너무 행복했다. 몬베베 분들과 관객분들이 진심으로 호응해주시는 모습을 보며 큰 감동과 에너지를 받아가는 것 같다”고 소감을 밝혔다. 이어 “다음에는 아이엠까지 완전체로 꼭 다시 오고 싶다”며 “보내주신 응원에 보답할 수 있도록 앞으로도 좋은 무대와 음악으로 찾아가겠다”고 전했다. 한편 몬스타엑스는 오는 9월 4일 신보 ‘더 페이즈(The Phase)’를 발매하고 컴백한다.* This article has been translated by AI. 2026-08-17 11:12:00
President Lee's Approval Rating Hits Record Low at 43.0% Amid Decline President Lee Jae-myung's approval rating has dropped for five consecutive weeks, reaching a record low in the low 40s, according to a recent poll. Realmeter, commissioned by Energy Economy News, conducted a survey from August 10 to 14 among 2,511 adults aged 18 and older. The results showed that the positive evaluation of President Lee's governance fell by 0.3 percentage points to 43.0% compared to the previous week. The negative evaluation rose to 54.1%, an increase of 1.1 percentage points, marking the third consecutive week it has exceeded the positive rating outside the margin of error (±2.0 percentage points at a 95% confidence level). The percentage of respondents who answered 'don't know' was 2.9%. Regionally, the largest decline was seen in Incheon and Gyeonggi, where the approval rating fell by 2.6 percentage points to 41.5%. Busan, Ulsan, and Gyeongnam recorded 36.3%, while Daejeon, Sejong, and Chungcheong saw a drop to 41.3%, down 2.4 and 1.9 percentage points, respectively. Conversely, Daegu and Gyeongbuk experienced a 6.6 percentage point increase, reaching 36.4%. Jeonnam, Gwangju, and Jeonbuk also saw a rise of 2.8 percentage points to 73.5%. By age group, support among those in their 60s fell by 6.1 percentage points to 43.1%. The approval ratings for those in their 30s and 40s also declined, dropping 2.9 percentage points to 30.3% and 1.5 percentage points to 47.5%, respectively. Support among those in their 70s increased by 5.3 percentage points to 48.7%, while the approval rating for those in their 20s rebounded by 3.1 percentage points to 31.0%. In terms of ideological orientation, support among progressives fell by 4.6 percentage points to 59.1%. The centrist group also saw a decline of 1.9 percentage points to 43.4%, while support among conservatives rose by 4.8 percentage points to 22.4%. Realmeter analyzed that the decline in positive evaluations was due to accumulated distrust in policies, triggered by confusion over real estate tax reform and controversy surrounding comments on youth housing. In a separate survey conducted on August 13-14 among 1,004 adults aged 18 and older regarding party support, the Democratic Party recorded 47.9%, while the People Power Party stood at 33.1%. The Democratic Party's support increased by 3.3 percentage points, while the People Power Party saw a decrease of 4.5 percentage points. Aside from a 10.8 percentage point drop in Busan, Ulsan, and Gyeongnam (33.4%), the Democratic Party showed an upward trend in most regions. Realmeter noted that the Democratic Party's rise can be attributed to the upcoming party convention, which has strengthened the cohesion among party members and supporters. The support for the Justice Innovation Party was recorded at 2.5%, while the Reform Party garnered 2.2%. The Progressive Party received 1.9%, other parties accounted for 2.3%, and the undecided group made up 10.1%. Both surveys were conducted using a wireless automated response method. The margin of error for the presidential approval rating survey is ±2.0 percentage points at a 95% confidence level, with a response rate of 4.0%. The party support survey had a margin of error of ±3.1 percentage points at a 95% confidence level, with a response rate of 3.5%. For more details, refer to the website of the National Election Survey Deliberation Commission.* This article has been translated by AI. 2026-08-17 11:08:10