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South Korea Condemns Japanese Officials' Visit to Yasukuni Shrine The South Korean government expressed strong disapproval on August 15 regarding the Japanese officials' offerings and visits to the Yasukuni Shrine, which honors war dead, including convicted war criminals. The Ministry of National Defense summoned Takeshi Nagayoshi, the Japanese defense attaché in South Korea, to protest against Defense Minister Shinjiro Koizumi's visit to the shrine, the first by a sitting defense minister in two years.In a statement, the Foreign Ministry criticized the actions of Japanese leaders, stating, "We cannot help but express our dismay at the repeated offerings and visits to the Yasukuni Shrine, which glorifies Japan's past invasions and enshrines war criminals, reflecting a retrogressive attitude toward history."The ministry urged Japanese leaders to confront history and demonstrate genuine reflection and remorse through their actions, emphasizing that this is crucial for building a future-oriented Korea-Japan relationship based on mutual trust.Kim Hak-jo, the director of international policy at the Defense Ministry, conveyed strong objections to Nagayoshi regarding Koizumi's visit, expressing regret over the glorification of Japan's colonial past and aggressive wars associated with the shrine. Kim also stated that the defense minister's visit contradicts efforts to foster a future-oriented relationship based on trust between South Korea and Japan, expressing serious concerns over the implications. On this day, which marks both Korea's Liberation Day and Japan's defeat in World War II, Japanese Prime Minister Sanae Takaichi did not visit the shrine but made an offering as the president of the ruling Liberal Democratic Party. Four current ministers, including Koizumi, Hitoshi Kikawada, Kimiko Onoda, and Minoru Kiuchi, participated in the shrine visit, alongside key officials from the ruling party in an unusual group visit.* This article has been translated by AI. 2026-08-15 16:12:10 -
South Korea Condemns Japanese Officials' Visit to Yasukuni Shrine The South Korean Ministry of Foreign Affairs criticized Japanese officials' visits to the Yasukuni Shrine on August 15, stating, "We cannot help but express our dismay."In a statement, the ministry said, "The government is dismayed by the actions of responsible Japanese leaders who continue to offer tributes or visit the Yasukuni Shrine, which glorifies Japan's past invasion wars and enshrines war criminals, reflecting a retrogressive disregard for history."The ministry urged Japanese leaders to confront history and demonstrate genuine reflection and remorse through their actions, emphasizing that this is a crucial foundation for building a future-oriented Korea-Japan relationship based on mutual trust.On this day, which marks both Korea's Liberation Day and Japan's defeat in World War II, Japanese Prime Minister Sanae Takaichi did not visit the shrine but made a monetary offering in her capacity as the president of the Liberal Democratic Party.Four current ministers, including Defense Minister Shinjiro Koizumi, Okinawa and Northern Territories Affairs Minister Hitoshi Kikawada, Economic Security Minister Kimi Onoda, and Minister of State for Economic and Fiscal Policy Minoru Kiuichi, visited the Yasukuni Shrine. Key officials from the ruling Liberal Democratic Party also participated in a rare group visit.* This article has been translated by AI. 2026-08-15 15:48:00
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Candidates Highlight Ties to Honam Region in Democratic Party Leadership Race As the Democratic Party's convention approaches in two days, candidates for party leader are emphasizing their connections to the Honam region to garner support. Jung Cheong-rae highlighted his status as a 'son-in-law' of Honam, while Song Young-gil referred to himself as a 'son,' and Kim Min-seok identified as a 'grandson.'At a joint speech event held on August 15 at the Naju Sports Park in Jeonnam, Jung stated, "I, Jung Cheong-rae, a son-in-law of Honam from Jangjin County, am here to greet you. Thanks to former President Kim Dae-jung's painful leg, South Korea can walk straight. Because of the internet laid down by him, our country became a powerhouse in internet technology, and as part of a cultural policy that supports without interfering, we became a cultural powerhouse with BTS." He added, "As an internet powerhouse, I will push forward with the Honam semiconductor cluster with my drive and determination. I will ensure its success," while also expressing his commitment to maintaining loyalty to President Lee Jae-myung.Song introduced himself by saying, "As a son of Honam from Goheung, I am finally here to greet you all. I was the first young blood recruited by former President Kim, served as a secretary to former President Roh Moo-hyun, and was the head of the campaign for former President Moon Jae-in, as well as the chief campaign chair for President Lee. Who are the roots of the Democratic Party's administration?"In response to Jung's claims of victories in the 6-3 local elections and the National Assembly by-elections, Song labeled it 'creative accounting.' He argued, "If we do not elect a new management team based on creative accounting, the next general election and the Seoul mayoral by-election will not be easy." Kim stated, "I spent three years in prison in Gwangju, and there is an elementary school built by my great-grandfather in Jindo, Jeonnam. Jeonnam is my birthplace, while Jeonbuk is my residence and where I will spend my later years." He promised, "As a son of Gwangju and a grandson of Jeonnam, I will work with President Lee to secure the future of Gwangju and Jeonnam." He also remarked, "When the government wavers and approval ratings fluctuate, the government shakes. There should be no conflict between the party and the government. To ensure a stable party-government unity, I will join hands with President Lee to robustly open the golden age of Honam through mega-projects." 2026-08-15 15:08:10
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Candidates Highlight Ties to Honam Region in Democratic Party Leadership Race As the Democratic Party's convention approaches in two days, candidates for party leader are emphasizing their connections to the Honam region to garner support. Jung Cheong-rae highlighted his status as a 'son-in-law' of Honam, while Song Young-gil referred to himself as a 'son,' and Kim Min-seok identified as a 'grandson.' They also underscored their ties to the late President Kim Dae-jung, a symbol of Honam politics.At a joint speech event held on August 15 at the Naju Sports Park in Jeonnam, Jung stated, "I, Jung Cheong-rae, a son-in-law of Honam from Jangjin County, am here to greet you." He added, "Thanks to President Kim's painful leg, South Korea can walk straight. Because of the internet laid down by President Kim, our country became a powerhouse in internet technology, and as part of a cultural policy that supports without interference, we became a cultural powerhouse with BTS."He continued, "From an internet powerhouse to an AI powerhouse, I will drive the Honam semiconductor cluster with my momentum and determination. I will ensure its success," while expressing his commitment to maintaining loyalty to President Lee Jae-myung.Song introduced himself, saying, "As a son of Honam from Goheung, I am finally here to greet you all." He noted his past roles, including being the first young recruit brought in by President Kim, serving as a secretary to the late President Roh Moo-hyun, and as the head of the campaign committee for former President Moon Jae-in. "Who are the roots of the Democratic Party's administration?" he asked.In response to Jung's claims of victories in the 6-3 local elections and the National Assembly by-elections, Song labeled them as 'creative accounting.' He asserted, "If we do not elect a new management team based on creative accounting, the next general election and the Seoul mayoral by-election will not be easy."Kim stated, "I spent three years in prison in Gwangju, and there is an elementary school built by my great-grandfather in Jindo, Jeonnam. Jeonnam is my birthplace, while Jeonbuk is my residence and where I will spend my later years." He promised, "As a son of Gwangju and a grandson of Jeonnam, I will work with President Lee to secure the future of Gwangju and Jeonnam."He also remarked, "When the government wavers and approval ratings fluctuate, the government shakes. There should be no conflict between the party and the government. I will work hand in hand with President Lee to ensure stable party-government unity and open a golden era for Honam through major projects."* This article has been translated by AI. 2026-08-15 15:08:00
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Korean retail investors reload on risk at home, abroad SEOUL, August 15 (AJP) - South Korean retail investors are edging back into risk after July's market washout, with brokerage cash returning above 100 trillion won, margin borrowing rising for a seventh straight session and traders piling back into a triple-leveraged U.S. semiconductor fund. Investor deposits — cash sitting in brokerage accounts and available for securities purchases — rose to 100.07 trillion won ($70.6 billion) on Aug. 13, up 91.9 billion won from the previous session, according to the Korea Financial Investment Association. The balance returned above 100 trillion won after three trading days. The rebound is modest compared with the liquidity that powered Korea's first-half stock frenzy. Investor deposits peaked at a record 139.69 trillion won on June 4, before sliding to 97.93 trillion won on Aug. 11. Even after the latest recovery, the pool remains nearly 40 trillion won, or 28 percent, below that peak. The decline did not necessarily mean investors have abandoned Korean equities. Some cash may already have been deployed into stocks or moved to other investments. Risk appetite itself has returned more quickly. Outstanding margin-financing loans rose to 30.93 trillion won on Aug. 13, marking a seventh consecutive increase. The balance had dropped to around 27.4 trillion won on Aug. 4 during the market's deleveraging, meaning borrowing has recovered by roughly 13 percent from that trough. The same willingness to take leveraged risk is showing up overseas. Korean investors net bought $662.85 million of Direxion Daily Semiconductor Bull 3X Shares, better known by its ticker SOXL, on Aug. 12 and 13, according to Korea Securities Depository's SEIBro portal. They bought $544.46 million on Aug. 12 and another $118.39 million the following day, abruptly reversing heavy selling earlier in the month. SOXL seeks to deliver three times the daily performance of the Philadelphia Semiconductor Index, making gains — and losses — substantially more volatile than movements in the underlying chip stocks. The latest purchases mark another sharp change of direction for Korea's so-called Seohak ants, a Korean term for individual investors trading foreign equities. Donghak (East-bound) refers to investors dedicated to home stocks. They had sold a net $1.64 billion of SOXL through Aug. 11, including $664.39 million on Aug. 3 alone, after aggressively accumulating the product during the previous month. The two-day buying spree reduced their August net selling in the fund to $976.08 million through Aug. 13. The reversal coincided with a rebound in U.S. semiconductor shares. The Philadelphia Semiconductor Index climbed to 12,456.00 on Aug. 13 from 10,447.49 on July 29 as fears that the semiconductor cycle was approaching a peak eased. SOXL itself rose more than 25 percent to $145.36 on Aug. 13 from $114.72 at the end of July. Korean investors' two-day net purchases of SOXL were about 13 times the $62.09 million they put into Alphabet, the second-biggest net purchase during the period. Their SOXL holdings were valued at $6.56 billion as of Aug. 12, making the leveraged fund their fourth-largest U.S. equity position after Tesla, Nvidia and Alphabet. SOXL had ranked only 10th at the end of April. The buildup follows months of unusually aggressive trading in the product. Korean investors net bought $40.87 million of SOXL in June before purchases exploded to $3.79 billion in July. They began August as heavy sellers before returning to the buy side this week. Their appetite for U.S. stocks more broadly has also held up. Korean investors were net buyers of $1.16 billion in U.S. equities through Aug. 13, extending a net-buying streak that began in June. July purchases were much larger at $4.67 billion. Amazon, SpaceX and Alphabet ranked as the three largest net purchases so far this month. AJP Takeaways Investor deposits recovered above 100 trillion won, but remain about 28 percent below their June record, showing that market liquidity has yet to return to first-half levels. Leverage is rebuilding faster than cash: margin-financing balances rose for a seventh session to 30.93 trillion won, while Korean investors bought $662.85 million of triple-leveraged SOXL in two days. The chip trade remains the center of retail risk-taking: SOXL has become Korean investors' fourth-largest U.S. equity holding despite the violent reversal between July's buying spree and early-August selling. 2026-08-15 14:59:55 -
Magnitude 7.7 Earthquake in Indonesia's Flores Island Leaves at Least 20 Dead A magnitude 7.7 earthquake struck off the northern coast of Flores Island in eastern Indonesia, resulting in at least 20 fatalities and six injuries, according to a report by AFP on August 15.According to Yonhap News, AFP cited local rescue officials who reported that the earthquake occurred in the Nusa Tenggara Timur province, affecting four villages where the deaths were recorded.One official stated, "According to reports, six people were injured, and two remain trapped under the rubble." Authorities are focusing on locating the trapped victims, but rescue operations are facing challenges due to landslides that have blocked several roads.The earthquake struck at 5:58 a.m. local time, followed by 52 aftershocks ranging from magnitudes 3.6 to 6.2. Tremors were felt across most areas of Flores Island, and local rescue teams are conducting operations throughout the region.Indonesia is located on the Pacific Ring of Fire, an area known for frequent earthquakes and volcanic eruptions.* This article has been translated by AI. 2026-08-15 14:52:00
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Seongnam Mayor Shin Sang-jin Honors Independence Heroes on Liberation Day Shin Sang-jin, the mayor of Seongnam, expressed on August 15 that "the courage and sacrifice of our forebears, who gave everything to reclaim our nation, have become the solid foundation of a free and prosperous Republic of Korea." On that morning, Mayor Shin attended the '81st Liberation Day Ceremony' held at the city hall's Onnuri Room, reflecting on the historical significance of liberation and sharing the joy of freedom with independence activists, their families, and members of the Liberation Association. The ceremony included an opening, a national tribute, a commemorative speech by Im Kyung-soo, head of the Seongnam chapter of the Liberation Association, Mayor Shin's congratulatory address, a performance by the Seongnam City Arts Group, singing of the Liberation Day song, and a cheer for independence. In his address, Mayor Shin stated, "The steadfast will and spirit of sacrifice shown by our forebears laid the groundwork for our liberation. We will carry forward the emotions of that day and the spirit of independence to vigorously open the future of both the Republic of Korea and Seongnam." Through the ceremony, Mayor Shin clearly conveyed his message that the values of liberation achieved through the sacrifices of our forebears will be translated into administrative efforts to improve citizens' lives and enhance Seongnam's future competitiveness. Mayor Shin emphasized, "The 9th term of the elected government will create tangible changes under the vision of 'Seongnam, the Standard of Korea,' realizing a city where all citizens can feel pride," adding, "We will carry on the spirit of 'a country with a solid foundation' emphasized by Ahn Chang-ho and 'a country of high culture' envisioned by Kim Gu in Seongnam." This aligns with the core direction of the 9th term, which is 'Rightly, Quickly, Completing Hopeful Seongnam.' Mayor Shin plans to rapidly implement changes in the livelihood sector that directly affect citizens' lives based on transparent and trusted administration, while also pushing forward policies to enhance Seongnam's future competitiveness, including redevelopment in Bundang and the old city, advanced industries, future mobility, and transportation network expansion. Above all, during the 9th term, he is committed to policies that enhance both citizens' lives and urban competitiveness, such as completing a diamond-shaped advanced industry belt, fostering future industries like artificial intelligence and data, addressing subway blind spots, promoting the Gyeonggi Southern Metropolitan Railway, and providing welfare throughout the life cycle, including 'end-of-life care at home.' Citizens attending the ceremony reflected on the meaning of liberation while holding the national flag, observing the event in a calm yet meaningful atmosphere. Independence activists, their families, and members of the Liberation Association took time to remember the sacrifices of their forebears, while citizens also reflected on the importance of safeguarding today's freedom and prosperity. The event featured a congratulatory performance by the Seongnam City Arts Group, singing of the Liberation Day song, and cheers for independence, creating a moment to share the significance of liberation with the community. Meanwhile, Mayor Shin has identified creating tangible results that citizens can feel in their daily lives as a key task of his administration in the 9th term, continuing responsible governance that strengthens livelihoods and safety.* This article has been translated by AI. 2026-08-15 14:36:00
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Samsung, hynix literally 'people's stocks' with entries near 1 in 4 Koreans SEOUL, August 15 (AJP) - Minority-shareholder entries at Samsung Electronics and SK hynix nearly doubled from a year earlier to 11.43 million at the end of June, a tally equivalent to about 22 percent of South Korea's population, underscoring how the first-half chip frenzy dramatically broadened ownership of the country's two memory giants. Minority shareholders held nearly seven out of every 10 shares in both chipmakers — 66.24 percent of Samsung Electronics and 67.98 percent of SK hynix. The comparison is illustrative rather than a literal head count. Investors owning both Samsung and SK hynix are counted once by each company. Still, the pace expansion has been extraordinary. The two chipmakers had a combined 5.73 million minority-shareholder entries at the end of June 2025. The number increased by 5.70 million, or 99.5 percent, over the following 12 months. At the end of 2025, Samsung had 4,195,927 minority shareholders, while SK hynix had 1,186,328, putting their combined total at 5.38 million. In just six months, the two companies added about 6.05 million shareholder entries, an increase of 112 percent. Samsung's year-end figure comes from its business report, while SK hynix's filing put its end-2025 minority-shareholder base at 1.19 million. Samsung remained by far the more widely held stock as its price is more accessible. It closed Friday at 274,500 won ($193.77), roughly one-sixth of SK hynix's 1,645,000 won. Its minority-shareholder count reached a record 7,971,242 at the end of June, up 2.92 million from 5,049,085 a year earlier and 3.78 million from the end of 2025. The six-month increase alone was about 90 percent. The two stocks had a spectacular run this year, helped by AI chip boom. After turning higher in the second half of last year, the stock's monthly average price climbed from 65,087 won in July 2025 to 108,724 won in December. The rally accelerated this year, with Samsung moving above 150,000 won in January to peak at 374,500 won on June 19. SK hynix's pull was even greater. Its minority-shareholder base jumped to 3,461,526 at end-June from 681,671 a year earlier — an increase of 2.78 million, or about 408 percent. From the end of 2025 alone, the number nearly tripled. Minority shareholders held 67.98 percent of its issued shares at the end of June. The influx tracked SK hynix's rise to the center of the global artificial-intelligence investment boom. Demand for high-bandwidth memory, or HBM, used alongside AI processors propelled its earnings and valuation to unprecedented levels. On June 22, SK hynix briefly overtook Samsung Electronics as South Korea's most valuable listed company, ending the session with a market capitalization of about 2,080 trillion won. Samsung's minority shareholders held 66.24 percent of its issued shares at end-June, remarkably close to the 67.98 percent held by their counterparts at SK hynix. Minority shareholders collectively owned roughly two-thirds of each of Korea's flagship chipmakers, giving changes in dividends, buybacks, capital expenditure and governance unusually broad consequences for the investing public. Samsung has carried the nickname of a "people's stock" for years. Its minority-shareholder population jumped from 2.15 million at the end of 2020 to more than 5 million in 2021 during the pandemic-era retail-investing boom. The number later retreated as the stock struggled. By the end of 2025, Samsung's minority-shareholder count had fallen to 4.20 million, down from 5.16 million a year earlier, as recovering share prices encouraged some investors to take profits. The first half of 2026 reversed that trend with force. SK hynix followed an even steeper trajectory. Its minority-shareholder base stood at just 681,671 in June last year and 1.19 million at year-end before vaulting above 3.46 million six months later. After both stocks reached record highs in June, the market turned violently in July as leveraged positions unwound and investors reassessed valuations across the global AI trade. By July 30, Samsung had fallen 44.7 percent from its recent peak, while SK hynix had dropped 55.7 percent from its high, although both subsequently recovered part of those losses. The KOSPI ended July down about 22 percent, its worst monthly performance in years, after a rally heavily concentrated in its two semiconductor giants reversed. The first-half chip boom did more than reshape profits, market capitalization and the KOSPI. It expanded direct exposure to the semiconductor cycle across a far wider swath of Korean investors — spreading both the rewards of the AI boom and the risks of its volatility. AJP Takeaways Samsung Electronics and SK hynix recorded 11.43 million minority-shareholder entries at end-June, nearly double the 5.73 million recorded a year earlier and equivalent to about 22 percent of Korea's population. The influx accelerated during the first-half chip frenzy: their combined shareholder tally more than doubled from 5.38 million at the end of 2025, with SK hynix's count nearly tripling in six months. The boom also widened exposure to the downside. The shareholder figures were recorded near June's market peak, shortly before Samsung and SK hynix suffered steep declines during July's market rout. 2026-08-15 14:30:03 -
China Condemns Japanese Politicians' Yasukuni Shrine Visits as Provocation The Chinese government strongly condemned the visits by Japanese politicians to the Yasukuni Shrine and the donation made by Prime Minister Sanae Takaichi on August 15, calling it a "provocation to the post-war international order."According to Yonhap News, the Chinese Foreign Ministry issued a statement in response to inquiries regarding the visits by Japanese politicians to the Yasukuni Shrine, where Class A war criminals are enshrined, and Takaichi's donation. The ministry stated, "We strongly condemn Japan's negative actions and have conveyed solemn protests and strong criticism to Japan."The ministry emphasized, "During World War II, Japan committed horrific crimes by waging aggressive wars," adding that "Yasukuni Shrine is a spiritual tool and symbol of Japanese militarism." It further stated, "This is an insult to historical justice and a challenge to the basic norms of civilization, as well as a provocation to the post-war international order."Highlighting that this year marks the 80th anniversary of the Far East International Military Tribunal (Tokyo Trials), the Chinese Foreign Ministry asserted, "Correctly understanding and addressing history is a prerequisite for Japan's return to the post-war international community," and emphasized that it is a crucial measure to gauge whether Japan maintains peaceful development and to establish a political foundation for developing relations with neighboring countries.On August 15, a day that marks both Korea's Liberation Day and Japan's defeat in World War II, Takaichi, in her first year as Prime Minister, made a donation to the Yasukuni Shrine in her capacity as the president of the ruling Liberal Democratic Party. While Takaichi had regularly visited Yasukuni on August 15 before taking office, it is believed she refrained from visiting this year due to backlash from neighboring countries such as South Korea and China.Some ministers, including Defense Minister Shinjiro Koizumi, visited Yasukuni Shrine, marking the seventh consecutive year that current Japanese officials have done so. Key officials from the ruling Liberal Democratic Party also made an unusual group visit to the shrine. This was the first time in two years that a sitting defense minister visited Yasukuni on Japan's defeat day, following former Defense Minister Minoru Kihara in 2024.* This article has been translated by AI. 2026-08-15 14:24:00
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Nexon and Krafton Approach '5 Trillion Club' with Record Half-Year Revenues Nexon and Krafton have both surpassed 2.5 trillion won in revenue for the first half of 2026, increasing the likelihood of becoming the first South Korean gaming companies to join the '5 trillion club.' Last year, Nexon set the record for the highest annual revenue among domestic game companies at 4.5 trillion won, while Krafton has taken the lead in the annual revenue race by outperforming Nexon in the first half.Nexon was the first domestic game company to exceed 4 trillion won in annual revenue in 2024, but no South Korean game company has yet achieved 5 trillion won in annual revenue.According to the gaming industry on August 15, Krafton reported a first-half revenue of 2.66 trillion won and an operating profit of 972.5 billion won, marking a 73.3% and 38.3% increase, respectively, compared to the same period last year. This performance accounts for about 80% of last year's total annual revenue of 3.33 trillion won.Nexon also reported a first-half revenue of 2.56 trillion won (273.3 billion yen) and an operating profit of 837.9 billion won (89.4 billion yen), achieving a 17% and 13% increase, respectively, compared to the previous year, setting a record for the highest half-year performance.In the first half, Krafton outperformed Nexon by 1.01 trillion won in revenue and 1.35 trillion won in operating profit. Krafton's rapid growth is attributed to the success of its existing key intellectual properties (IPs) and new IPs. The revenue from the 'PUBG' franchise increased by 25% compared to the same period last year.The recently launched 'Subnautica 2' surpassed 5 million copies sold within 22 days of its release, contributing 232.5 billion won to the revenue of the Subnautica IP in the first half. The performance of ADK Group, an advertising and content company acquired last year, was also included in Krafton's results.Nexon continued its growth driven by the 'MapleStory' franchise and the release of 'Ark Raiders' last October. Notably, the revenue from the MapleStory franchise in the second quarter increased by 63% compared to the previous year, reaching a record high for the quarter. However, the decline in revenue from the Chinese version of 'Dungeon & Fighter Mobile' continues, and the performance of major IPs like MapleStory in the second half is expected to impact overall results.Despite the strong performance in the first half, some analysts caution that it may be premature to predict both companies will reach the 5 trillion won mark. Krafton's reliance on PUBG and the performance of new titles, along with Nexon's recovery in the Chinese market and the success of new releases in the second half, are seen as critical factors. Shinhan Investment Corp. positively assessed the platformization of PUBG and the success of 'Subnautica 2,' suggesting that Krafton has established a foundation for launching multiple mid-sized new titles based on stable cash generation.YuJin Investment Corp. raised its revenue forecast for Krafton this year from 4.61 trillion won to 4.87 trillion won, but still expects it to fall short of the 5 trillion won mark by about 130 billion won.Nexon is also expected to continue its growth this year. Analysts project a consensus annual revenue of 5.07 trillion yen for 2026, reflecting an increase of about 6.8% from last year.The industry believes that whether either company can actually achieve 5 trillion won will depend on the growth of existing IPs and the performance of new titles in the second half. An industry insider noted, “There is growing interest in the annual revenue competition between the two companies. If Krafton maintains its lead through the end of the year, it could mark the entry of the first South Korean company into the '5 trillion club' and intensify the competition for revenue leadership.”* This article has been translated by AI. 2026-08-15 14:08:00