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Citibank Korea Reports Record Q2 Net Profit of 186.8 Billion Won Citibank Korea achieved its highest-ever net profit for the second quarter, driven by increased non-interest income and reduced costs amid favorable capital market conditions.The bank reported a net profit of 186.8 billion won for the second quarter, an 86% increase compared to the same period last year. This marks the largest quarterly profit in its history. Cumulative net profit for the first half of the year reached 319.6 billion won, a 75% increase from the previous year, also setting a record for the first half.Total revenue for the second quarter was 368.2 billion won, reflecting a 27% increase. Notably, non-interest income surged to 257.1 billion won, a 59% rise, primarily due to increased revenues from foreign exchange, derivatives, and securities, spurred by strong capital market performance.In contrast, interest income fell to 111.1 billion won, a 14% decrease, attributed to a decline in the net interest margin (NIM), which stood at 1.81%, down 0.53 percentage points from the same period last year.As of the end of the second quarter, the Bank for International Settlements (BIS) capital adequacy ratio was 28.24%, while the common equity tier 1 capital ratio was 27.37%.Yoo Myung-soon, CEO of Citibank Korea, stated, "Despite the volatile market conditions, we have achieved significant results by actively leveraging our capabilities in key business areas such as foreign exchange, capital markets, and securities services, resulting in the highest quarterly net profit in our history."* This article has been translated by AI. 2026-08-14 16:24:00 -
KOSPI Approaches 7000 Mark as Foreign Investors Buy 3 Trillion Won The KOSPI index surged by over 2%, nearing the 7000 mark, driven by strong foreign buying. The KOSDAQ also showed volatility, briefly turning negative before closing slightly higher. Both indices have now recorded five consecutive days of gains.On August 14, the Korea Exchange reported that the KOSPI closed at 6977.94, up 164.60 points (2.42%) from the previous trading day. The index opened at 6995.67, up 182.33 points (2.68%).In the securities market, individual and institutional investors sold a net 1.98 trillion won and 1.06 trillion won, respectively. In contrast, foreign investors purchased a net 3.38 trillion won.Most of the top market capitalization stocks in the KOSPI ended higher, including Hyundai Motor (up 8.12%), Samsung Electro-Mechanics (up 3.66%), SK Hynix (up 3.45%), Samsung Life Insurance (up 3.26%), SK Square (up 3.13%), Samsung Electronics (up 2.24%), Samsung C&T (up 1.10%), LG Energy Solution (up 0.82%), and KB Financial Group (up 0.24%). However, Hanwha Aerospace (-1.94%) and Samsung Biologics (-0.96%) saw declines.Meanwhile, the KOSDAQ closed at 864.65, up 3.28 points (0.38%). The index opened at 868.07, up 6.70 points (0.78%), but at one point fell to 845.41, down 15.96 points (1.85%).In the KOSDAQ market, individual and institutional investors sold a net 1.64 trillion won and 1.08 trillion won, respectively, while foreign investors bought a net 2.76 trillion won.The top stocks in the KOSDAQ showed mixed results. IOTech (up 6.61%), EcoPro BM (up 1.75%), EcoPro (up 1.19%), Rainbow Robotics (up 0.80%), and HLB (up 0.58%) gained, while Wonik IPS (-2.83%), ABL Bio (-3.00%), Peptron (-1.37%), Alteogen (-1.10%), JUSUNG Engineering (-0.84%), Rino Technology (-0.70%), and Samchully Pharmaceutical (-0.21%) declined.Analysts noted that foreign buying supported the KOSPI's rise. Lee Kyung-min, a researcher at Daishin Securities, stated, "The KOSPI briefly surpassed the 7000 mark due to easing concerns over the Federal Reserve's interest rate hikes and improved investor sentiment in the memory sector. However, profit-taking after five consecutive days of gains led to some pullback in the index."He added, "As foreign investors continue to buy for four consecutive days, a differentiated market trend is emerging based on sector-specific news."* This article has been translated by AI. 2026-08-14 16:20:10
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Lotte Insurance Reports 2nd Quarter Net Profit of 1.3 Billion Won Amid Capital Improvement Lotte Insurance reported a significant decline in its net profit for the second quarter of this year, dropping 96.4% compared to the same period last year. However, the company's capital adequacy indicators showed some improvement due to an increase in basic capital and net assets.On August 14, Lotte Insurance announced that it recorded an operating profit of 3.1 billion won and a net profit of 1.3 billion won for the second quarter. These figures represent decreases of 93.6% and 96.4%, respectively, from the same period last year. Cumulatively, the company reported an operating loss of 25.4 billion won and a net loss of 18.5 billion won for the first half of the year, compared to an operating profit of 61.3 billion won and a net profit of 47.5 billion won in the first half of the previous year.The insurance operating profit for the second quarter was 26.5 billion won, down 19.5% from 32.9 billion won in the same quarter last year. In contrast, investment income shifted from a profit of 15.4 billion won in the second quarter of last year to a loss of 23.5 billion won this year, primarily due to evaluation losses in interest-bearing assets and some foreign currency assets resulting from rising market interest rates.For the first half of the year, the cumulative insurance operating profit was approximately 53.7 billion won, while the investment sector incurred a loss of about 79.2 billion won. The gross insurance premiums for long-term protection insurance in the second quarter reached 638.6 billion won, a 1.6% increase compared to the same period last year.At the end of the second quarter, the insurance contract margin (CSM) stood at 22.431 trillion won, a decrease of 265.9 billion won from the previous quarter, reflecting adjustments made in accordance with the modernization of actuarial assumptions.Capital indicators showed improvement. As of the end of the second quarter, the provisional basic capital was minus 91 billion won, an increase of approximately 259.8 billion won from minus 350.9 billion won at the end of the previous quarter. The basic capital K-ICS ratio rose by 16.0 percentage points, from -21.4% to -5.4%. However, both the basic capital and the basic capital K-ICS ratio remain in negative territory. Net assets increased by 288.8 billion won to 993.5 billion won, with the total K-ICS ratio reported at 161.9%.* This article has been translated by AI. 2026-08-14 16:20:10
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Public Opinion on Lee Jae-myung's Proposed Four-Year Presidential Term Amid Low Approval Ratings President Lee Jae-myung's mention of a 'decentralized constitutional amendment' has sparked controversy, prompting the Blue House to take early action to quell the situation. However, on the same day, Lee's approval rating hit a record low since taking office, leading to online criticism such as, 'Don't ruin the country, just step down,' and 'Worry about being disqualified from office rather than seeking re-election.'The Blue House stated on the 14th that it believes a four-year term for a president with enhanced parliamentary powers has the highest level of public acceptance. A Blue House official commented to reporters, 'We recognize the issues associated with a powerful presidential system.'The official added, 'We aim to address the limitations of a powerful presidency by transitioning to a term-limited presidency, but this does not mean we are advocating for a parliamentary system or specifically endorsing a decentralized presidential system.'The problem arises as Lee's performance ratings are at their lowest, and the possibility of constitutional amendments has intensified public backlash. Online users expressed sentiments like, 'Hearing about re-election plans, even if it means shortening your term, is truly chilling,' and 'Why pursue a constitutional amendment? What is the hidden agenda?' Many questioned, 'Who among the public supports a four-year term?'Comments such as 'The public does not want this,' 'Who exactly are you referring to as the public?' and 'I don't understand why you want to pursue a constitutional amendment' also surfaced.One user remarked, 'Stop making horrifying statements and focus on your trial,' adding, 'Consider stepping down with a disqualification ruling after restoring the national debt you increased over the past year and fixing the security, diplomatic, and economic mess you created.'Another user stated, 'You have demonized past presidents like Syngman Rhee and Park Chung-hee as dictators for 40 years, and now you want to serve a second term? Especially in a situation where public trust has been shattered due to election fraud? After ruining the national economy? This is true dictatorship.'Some users reacted to the approval rating survey results, saying, 'If Gallup shows this, the actual public sentiment must be even worse,' and '44% in a phone interview means you've already entered the 30% range.' 2026-08-14 16:20:00
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SK Square Reports Record Q2 Operating Profit of 19 Trillion Won Driven by SK Hynix SK Square has achieved its highest quarterly profit ever, bolstered by strong performance from SK Hynix.On August 14, SK Square reported consolidated revenue of 3.285 trillion won, operating profit of 19.2354 trillion won, and net profit of 18.675 trillion won for the second quarter of this year. While revenue decreased by 19.2% compared to the same period last year, operating profit surged approximately 13.7 times, and net profit increased by 12.9 times.For the first half of the year, cumulative operating profit reached 27.5137 trillion won, and net profit was 27.0498 trillion won, marking the highest figures ever for a half-year period. This represents an increase of nearly nine times compared to the operating profit of 3.0543 trillion won and net profit of 3.0594 trillion won recorded in the first half of last year.SK Square explained that the strong performance of its key portfolio company, SK Hynix, along with a business portfolio restructuring focused on artificial intelligence (AI) and semiconductors, and shareholder return policies, have contributed to the increase in corporate value.The discount rate on net asset value (NAV), a key indicator of corporate value enhancement plans, decreased from 50.1% at the end of the second quarter last year to 38% as of August 13. A lower NAV discount rate indicates that the value of the assets held by the holding company is being reflected in its stock price.SK Square aims to reduce the NAV discount rate to below 30% by 2028 and achieve a return on equity (ROE) that exceeds the cost of equity (COE) from 2026 to 2028. The company is also working to increase its price-to-book ratio (PBR) to over 1 by 2028.The restructuring of its portfolio to focus on AI and semiconductors is ongoing. In January, SK Square sold digital advertising company InCross to SK Networks, and in June, it sold app market operator OneStore to Nexters.The company will continue its shareholder return policy. SK Square has completely retired 40 billion won worth of treasury shares acquired in the first half of the year. An additional 70 billion won in treasury shares will be repurchased and retired by early next year. Since 2023, SK Square has been buying back and retiring treasury shares annually. In new investments, the company is reviewing targets centered on the semiconductor value chain and is investing in AI and semiconductor firms in the U.S. and Japan through its overseas investment firm, TGC Square.Kim Jeong-kyu, CEO of SK Square, stated, “We will actively communicate with shareholders to enhance corporate value while preparing for AX innovation and new investments in semiconductors.”* This article has been translated by AI. 2026-08-14 16:20:00
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Jun. K to roll out 'Your Lips' on Aug. 17 SEOUL, August 14 (AJP) - JUN. K of 2PM will release a new digital single, "Your Lips," featuring Wendy of Red Velvet, on Aug. 17, JYP Entertainment said Friday. The album will be released at 6 p.m. (0900 GMT), marking JUN. K's latest solo release after his fourth mini album, "Dear my muse" in September of 2025. Ahead of the release, JYP has been rolling out teaser photos through JUN. K's official social media channels. The latest images, released at midnight Friday, show the singer in a dark, minimal setting lit by sharp lighting, giving the single a more restrained and cinematic mood. Rather than building the rollout around a large-scale concept, the teasers keep the focus on JUN. K's tone and the romantic atmosphere of the song. JUN. K took part in writing the lyrics for "Your Lips," according to JYP. He has long been involved in songwriting for both his solo work and 2PM, including the group's hit song "My House," as well as tracks from "Dear my muse." The new single pairs JUN. K with Wendy, bringing together two vocalists known for controlled, expressive delivery. JYP described the song as a romantic track built around sweet lyrics and the contrast between the two singers' voices. "Your Lips" will be released on major music platforms on Aug. 17. AJP Takeaways · JUN. K of 2PM will release digital single "Your Lips" featuring Wendy of Red Velvet on Aug. 17 at 6 p.m. KST. · The release follows his solo track "Midnight Ticket" and fourth mini album "Dear my muse." · JYP has been releasing teaser photos built around a restrained, cinematic mood ahead of the single. 2026-08-14 16:14:03 -
Prime Minister Han Seung-soo Prioritizes Housing Supply, Vows Weekly Site Inspections Prime Minister Han Seung-soo emphasized on August 14 that housing supply is her top priority, pledging to personally inspect construction sites weekly to monitor progress. She announced the activation of a rapid supply inspection team within the Prime Minister's Office and plans for regular government-wide meetings to accelerate housing supply.During the first government-wide rapid housing supply inspection meeting held at the Government Seoul Complex, Han stated, "We must execute this plan swiftly to deliver tangible results that the public can feel." This meeting took place just a day after the government announced measures aimed at stabilizing the rental and sales markets and a comprehensive financial plan for the real estate sector.Attendees included Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol, Minister of Agriculture, Food and Rural Affairs Song Mi-ryung, Minister of Planning and Budget Park Hong-geun, Financial Services Commission Chairman Lee Ok-won, and First Vice Minister of Land, Infrastructure and Transport Kim I-tak, among 18 officials from relevant ministries and public institutions.Han noted that while there was positive feedback on the government's consolidated supply measures and support from the housing construction industry for revitalizing private supply, there were also calls for proof of execution through actual construction results. She stressed, "The key is execution and the speed at which we can complete these measures. Rapid supply is crucial to meet public expectations, and we must manage the implementation meticulously to adhere to the planned schedule."She explained that convening a government meeting immediately after the announcement was a clear indication of the government's commitment to execution. Han reiterated, "The reason for holding the first government-wide rapid housing supply inspection meeting just a day after the announcement is to ensure we execute this plan swiftly and achieve results that the public can feel."Moving forward, she stated that housing supply would remain her top priority, with weekly site inspections and close monitoring of project progress alongside the rapid supply inspection team. The government will also hold regular meetings to address collaboration and coordination issues among relevant ministries and swiftly resolve any obstacles encountered during project implementation. Progress on supply measures will be continuously reported to the Cabinet.Han called for expanded financial support to alleviate housing burdens for young people and newlyweds. She stated, "We will provide specialized housing finance programs tailored to the needs of youth and actively identify and resolve the 'marriage penalty' that disadvantages newlyweds, lowering the barriers for prospective homeowners to secure loans."Financial support for housing developers will also be strengthened. Han committed to quickly identifying and implementing detailed tasks that can be felt directly in the field, such as enhancing financial support for developers to promote housing supply.She emphasized that housing supply is a national issue that cannot be solved by any single ministry alone, requiring collaboration from the entire government. "All relevant institutions, including central and local governments and financial institutions, must work together," she said.Han urged ministries and agencies to share any difficulties encountered during the process immediately and work together to resolve them, emphasizing the need for rapid information sharing and collaboration. Administrative procedures and work methods will also be improved to match the speed of supply, with plans to streamline document review processes and handle permits and compensation simultaneously to reduce project timelines.However, she cautioned that the quality and safety of housing must not be compromised in the name of speed. Han stated, "We must change the way the government has operated to increase supply speed, but we must also ensure the quality and safety of housing meet public expectations."She concluded by stating that this meeting should mark the beginning of rapid and practical housing supply that the public can feel, calling for active cooperation from ministers and public institutions.* This article has been translated by AI. 2026-08-14 16:12:00
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Chinese Stock Market Recovers Slightly Amid Strong Optical Module Sector The Chinese stock market, which had declined the previous day, saw a slight increase today. Analysts suggest that investors are adopting a wait-and-see approach ahead of corporate earnings announcements. The Shanghai Composite Index closed up 0.01% at 3,927.18, the Shenzhen Component Index rose 0.45% to 14,354.31, and the ChiNext Index gained 1.12% to finish at 3,626.30.Reports indicated that the valuation of Chinese technology stocks has risen significantly compared to their U.S. counterparts, contributing to a weak morning session. The Financial Times noted that the Shanghai STAR50 Index has surged 29% this year, with a price-to-earnings ratio exceeding 150, compared to 35 for the Nasdaq 100, highlighting a substantial disparity.Additionally, the upcoming listing of Unitree on the Shanghai Stock Exchange has generated considerable excitement, with individual investors reportedly oversubscribing by more than 8,000 times. This influx of capital into the IPO market is seen as a potential negative for overall market liquidity.Despite the morning's weakness, the Chinese stock market rebounded in the afternoon as bargain-hunting activity increased. Major tech companies are releasing their second-quarter earnings, which are still showing solid results, positively influencing market sentiment.China's major financial institution, Zhongjin Securities, stated, "We maintain our view that the Chinese stock market will experience a gradual upward trend. The index is expected to resume its upward trajectory after a period of adjustment, although the pace of growth may be slower than in the past." They added, "The index will not rely solely on storytelling but will change based on clear validation and performance." Notably, stocks related to optical modules saw significant gains today. Jianqiao Technology hit its upper limit, while Changyingtong recorded a substantial increase. Wanlian Securities commented, "The domestic and international optical internet industries are thriving, with an increase in demand for 800G optical modules and the large-scale commercialization of 1.6T optical modules. Key Chinese companies are expected to benefit significantly due to their strengths in technology, production capacity, and large-scale delivery experience." The pharmaceutical and biotech sectors also continued their upward trend, with Shenqi Pharmaceutical and Boji Pharmaceutical reaching their upper limits. Shanghai Securities reported that while the pharmaceutical and biotech sectors are experiencing favorable developments due to changes in policy environment, global expansion successes, and performance improvements, the sector's valuation has remained at historically low levels for an extended period. Furthermore, the enhancement of capabilities through AI is expected to drive a reevaluation of the value of innovative drug sectors.Meanwhile, the People's Bank of China set the yuan's daily reference rate against the dollar at 6.7878, a decrease of 0.0010 yuan from the previous day, reflecting a 0.01% increase in the value of the yuan.* This article has been translated by AI. 2026-08-14 16:12:00
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Colonial ghosts haunt Korea's celebrity descendants SEOUL, August 14 (AJP) — Actress Hayoung thought she was telling a family story. Speaking on television about coming from four generations of doctors, she proudly recalled a great-grandfather who had studied Western medicine in Japan, opened one of Seoul's early Western-style clinics and, she said, treated Emperor Gojong. Soon, internet users were digging through colonial-era records. They identified the relative as Ahn Sang-ho, whose name appeared in organizations associated with cooperation with imperial Japan. What followed had little to do with Hayoung's latest acting role. Instead, just before South Korea marks the 81st anniversary of liberation from Japanese colonial rule on Aug. 15, the 35-year-old actress found herself at the center of a much older argument: How far should responsibility for collaboration reach across generations? The question is particularly combustible in Korea, where disputes over forced labor, wartime sexual slavery and territory continue to keep memories of Japan's 1910-45 colonial rule politically alive. But Hayoung's case is more complicated than the online shorthand that quickly took hold. Ahn's name appears on a 1916 roster of governors of the Daejeong Chinmokhoe, an organization that promoted assimilation between colonial Korea and Japan. His name also appeared on a 1909 committee formed to mourn Ito Hirobumi, the Japanese statesman assassinated by Korean independence activist Ahn Jung-geun. Yet Ahn was not included in the widely cited Encyclopedia of Pro-Japanese Collaborators, published in 2009, and historians differ over whether the records are enough to classify him as a collaborator. Historian Sim Yong-hwan has cautioned against applying that label solely because someone's name appeared in an organization associated with colonial rule. Bang Hak-jin, secretary-general of the Center for Historical Truth and Justice, has said Ahn's participation in such organizations is documented but that the available evidence did not meet the threshold for inclusion in the dictionary. Former Independence Hall director Lee Jun-sik has taken a stricter position, arguing that serving as a governor of an organization promoting assimilation should itself be regarded as collaboration. Those distinctions largely vanished once the debate moved online. Posts began describing Hayoung simply as the descendant of a "chinilpa," a deeply charged Korean term commonly used for people regarded as collaborators with imperial Japan. Hayoung herself has not expressed support for Japan's colonial rule or involvement in any colonial-era activity. Yet the controversy rapidly spread beyond historical debate, drawing in her television appearances, her family's wealth and eventually the companies that had hired her. Samsung Electronics removed six advertisements featuring the actress from its official YouTube channel, while other brands also withdrew campaigns. The episode unfolded just as her Netflix romance drama "Our Sticky Love," co-starring Chung Hye-in, had reached No. 5 among the platform's non-English television series after airing in the first week of August. A history that never fully went away The intensity of the reaction is difficult to understand without Korea's unfinished reckoning with collaboration after liberation in 1945. A special committee established to investigate Koreans accused of assisting Japanese colonial rule was dismantled in 1949 amid political resistance. Many of those accused were never prosecuted, and some retained or later regained wealth and influence. South Korea returned to the issue decades later. A government commission operating from 2005 to 2009 identified 1,006 people as having engaged in pro-Japanese and anti-national activities. A separately compiled private dictionary applied broader criteria and named nearly 4,800 people. More than eight decades after liberation, "chinilpa" remains more than a historical classification. It can function as a political accusation, a moral judgment and, in the age of social media, a label capable of spreading faster than the evidence behind it. Whether that stigma should extend to descendants is another matter. The young Koreans interviewed by AJP did not generally argue that it should. "I sometimes feel bad when someone gets criticized just because they are a descendant," said Kang Seung-yeon, a 21-year-old university student from Seoul's Dongjak district. But Kang said Hayoung's own television appearances made the reaction more complicated. "In Hayoung's case, I think the things she said on television probably made people view the situation more negatively," she said. Kim Su-hwan, a 35-year-old office worker from Gangdong district, had never heard of the actress before the controversy erupted. "I don't think this is a witch hunt just because she's a collaborator's descendant," Kim said. Nor, he said, did the online debate look entirely one-sided. "People with different opinions are busy arguing with each other in the comments." That divide is visible across social media. Some users rejected the idea that Hayoung should bear responsibility for something her great-grandfather may have done nearly a century ago. Others were less concerned with inherited guilt than with whether wealth and social status acquired during the colonial period might have survived across generations among families that benefited under Japanese rule. Others pushed back against that assumption as well. There is no evidence that Hayoung's family's present-day wealth came from Ahn Sang-ho's colonial-era activities. When ancestry met privilege The tenor of the controversy shifted after older clips of Hayoung began circulating alongside the historical material. In footage from a 2025 cooking program, she said her family home had five refrigerators and joked that food sometimes went to waste because no one finished it. The comment had nothing to do with colonial history when it was made. Neither, on its own, did talking about generations of doctors in her family. But after internet users identified Ahn, those remarks were recirculated through a different lens: not simply as family anecdotes, but as displays of inherited status. For some younger Koreans, that was the point at which the controversy stopped being primarily about ancestry. "Korea clearly has a painful history when it comes to pro-Japanese collaborators, but in Hayoung's case I think a lot of the problem came from being careless about what she said," said Kim So-young, a 23-year-old student. She cited the comments about the refrigerators and the family's medical background. "I think people did not respond well because it sounded like she was boasting," Kim said. "Then people started looking further into her family history." For Kim, having an ancestor suspected of collaboration was not enough on its own to justify the reaction. "Being a celebrity means your livelihood depends on how you are seen," she said. "You have to be careful and humble." Timing intensified the scrutiny. The controversy erupted in the run-up to Liberation Day, when stories of independence fighters, colonial repression and Koreans who cooperated with Japanese authorities return to the center of public attention. Sim has offered a similar interpretation of the episode, saying the anger appeared to be driven less by Hayoung's bloodline than by the impression that she had proudly presented a family history she did not fully understand. Hayoung later acknowledged that point herself. In an apology posted on Instagram, she said she had known her great-grandfather only through fragmentary stories passed down within the family. She said she began examining historical records after the controversy and learned about his activities connected to pro-Japanese organizations. Her agency had initially dismissed the allegations as baseless. It reversed its position after confirming the authenticity of the 1916 roster and apologized for responding before adequately checking the historical record. Korea has seen it before Hayoung is hardly the first Korean celebrity to discover that an ancestor's colonial-era record can suddenly become part of a modern career. Actor Kang Dong-won faced controversy in 2017 over his maternal great-grandfather. Criticism intensified after his agency sought the removal of articles discussing the family history. Kang later apologized, saying he had not properly understood his ancestor's record. Actress Lee Ji-ah responded differently after reports emerged about her grandfather. She visited the Center for Historical Truth and Justice to examine historical documents herself and later said that no circumstance could justify collaboration. Musician Jeon Beom-sun disclosed his own descent from a figure associated with collaboration before public controversy forced the issue. Those cases suggest that ancestry alone does not determine the scale of the backlash. How a public figure discusses that history — and how the person responds once it emerges — can matter just as much. The opposite dynamic also carries weight. Actor Yoon Ju-bin is the grand-nephew of independence fighter Yoon Bong-gil, one of Korea's most celebrated anti-colonial activists. He kept that connection largely out of public view for years after making his acting debut and has said his family warned him against using Yoon's name for commercial benefit. That contrast has resurfaced during the debate over Hayoung. One family connection can become a source of suspicion if it appears to have been celebrated without scrutiny. Another can generate respect precisely because it was not exploited. More than inherited guilt Hayoung's case ultimately offers little evidence of a simple generational vendetta against descendants of people associated with colonial rule. The young Koreans interviewed by AJP did not say people should be condemned because of their bloodline. Their judgments were more conditional. For some, whatever Ahn Sang-ho did should have no bearing on how his great-granddaughter is judged today. For others, the issue became harder to separate from Hayoung herself after she publicly expressed pride in a family history that she later acknowledged she did not fully know. The historical question remains unsettled as well. Ahn's participation in organizations associated with colonial rule is documented. But historians still disagree over how that participation should be classified, and he was not among those included in the best-known private dictionary of collaborators. There is also no evidence that Hayoung's family's present wealth originated from his colonial-era activities. What the controversy reveals instead is how quickly separate questions can collapse into one another in South Korea: what an ancestor did, whether descendants benefited, how wealth is displayed and what responsibility a person has when invoking family history in public. For most Koreans alive today, Japanese colonial rule survives through textbooks, films, family stories and national commemorations rather than personal memory. The generation that experienced it directly is rapidly disappearing. The argument has not disappeared with them. Eighty-one years after liberation, Korea is still deciding not only how to remember those who collaborated and those who resisted, but where historical responsibility ends and the lives of their descendants begin. AJP Takeaways: · Actress Hayoung is facing backlash ahead of South Korea's Aug. 15 Liberation Day after colonial-era records linked her great-grandfather Ahn Sang-ho to organizations associated with cooperation with imperial Japan. · Ahn appeared in records tied to pro-Japanese organizations but was not included in the 2009 Encyclopedia of Pro-Japanese Collaborators. Historians remain divided over whether his activities warrant the collaborator label. · Interviews with Koreans in their 20s and 30s suggest the controversy is not simply about inherited guilt. Hayoung's remarks about her family's wealth and four-generation medical pedigree have also fueled criticism. 2026-08-14 16:11:37 -
Foreigners lift KOSPI while other Asian market quiet SEOUL, August 14 (AJP) -Foreign money kept buying Seoul for a fifth straight session Friday, but this time the leadership came from telecom and automakers rather than the two chipmakers that drove both the market's first-half rally and its July collapse. The KOSPI closed at 6,977.94, up 164.60 points, or 2.42 percent, ending the week 11.5 percent higher and edging back toward the 7,000 level it surrendered a month ago on July 13. Foreign investors bought a net 3.04 trillion won ($2.14 billion), while domestic individuals and institutions sold into the rally. The rebound has come on relatively thin trading. The index remains about 26 percent below the record intraday high of 9,385.59 reached in June, before a July collapse that left the KOSPI down 22.19 percent for the month, its steepest monthly loss since the 2008 global financial crisis. Samsung Electronics and SK hynix also remain well below their June highs despite Friday's gains. KOSPI turnover totaled 26.73 trillion won Friday, less than 40 percent of the 67.26 trillion won traded during the June peak when the index was above 9,000. Individuals sold a net 1.98 trillion won and institutions 1.06 trillion won, leaving foreigners as the clear buyers. That split has characterized much of the August recovery. Retail investors, badly hit by July's leverage unwind, have continued selling into the rebound rather than following foreign money back into the market. Telecom led the sector gains, rising 8.5 percent as SK Telecom jumped 10.5 percent to 100,500 won. The company gave no confirmed reason for the move. Autos followed with a 6.2 percent gain. Hyundai Motor surged 8.2 percent to 453,000 won, a day after its Genesis luxury brand unveiled a next-generation hybrid system and said the GV80 Hybrid would launch next month. The chipmakers advanced without dominating the market. Samsung Electronics gained 2.4 percent to 274,500 won. SK hynix rose 3.3 percent to 1,645,000 won, still well below levels reached during its June surge. Refiners also attracted buying, with oil and gas shares up 5.8 percent. The session was far from one-directional. The KOSPI opened at 6,995.67 and briefly cleared 7,000 to reach 7,010.86 before falling as low as 6,848.43 as investors took profits. It recovered into the close. Softer-than-expected U.S. producer-price data released overnight supported the opening advance. The U.S. producer price index was unchanged in July from June, below market expectations for a 0.2 percent increase, while its annual increase slowed to 4.7 percent from 5.5 percent. The KOSDAQ, the secondary market dominated by smaller and technology companies, closed at 864.65, up 3.28 points, or 0.4 percent, after spending much of the session below Thursday's close. Foreign investors were net sellers there, underscoring the junior market's weaker participation in the broader August rebound. Elsewhere in the region, Tokyo's Nikkei 225 gained about 0.6 percent, while the Shanghai Composite was little changed. The won traded at 1,419.10 per dollar, slightly stronger than Thursday. AJP Takeaways: Foreigners remained the engine of the KOSPI rebound, buying a net 3.04 trillion won Friday as domestic retail and institutional investors sold. Market leadership broadened beyond semiconductors, with telecom and autos outperforming Samsung Electronics and SK hynix. The recovery remains fragile beneath the headline gain: the KOSPI is still about 26 percent below its June record and Friday turnover was less than 40 percent of the June peak. Foreign money kept buying Seoul for a fifth straight session on Friday, and this time the leadership came from telecom and automakers rather than the two chipmakers that both built and broke this market. The KOSPI closed at 6,977.94, up 164.60 points or 2.42 percent, ending week 11 percent higher and edging toward the 7,000 market it surrendered a month ago on July 13. Foreign investors bought a net 3.04 trillion won ($2.14 billion) while domestic individuals and institutions sold into them. The rebound has been modest in thin trade. The index remains roughly 26 percent below the record 9,385.59 it reached in June, before a July collapse that ranks as the worst month in the market's history, and Samsung Electronics and SK hynix are both far from their June highs even after Friday's gains. Trade turnover nearly halved to 26.73 trillion won Friday from 67.26 trillion won during the June peak when the key index traded above 9,000 mark. Individuals sold a net 1.98 trillion won ($1.40 billion) and institutions a net 1.03 trillion won ($724 million). That split has been the shape of the entire August recovery. Retail money that was forced out during July's margin unwind is not coming back into the bounce. Wireless telecom led all sectors, up 8.5 percent, on a 10.5 percent jump in SK telecom to 100,500 won ($70.82). The company gave no confirmed reason for the move. Autos followed, up 6.2 percent. Hyundai Motor rose 8.2 percent to 453,000 won ($319.22), a gain local brokerages read as positioning ahead of the Genesis GV80 hybrid, whose launch plan the group disclosed on Thursday. The chipmakers advanced without leading. Samsung Electronics gained 2.4 percent to 274,500 won ($193.44). SK hynix rose 3.3 percent to 1,645,000 won ($1,159.19), still around 37 percent below the level it first passed in June. Refiners also drew buying, with oil and gas up 5.8 percent. The session was not one-directional. The index opened above 6,995, briefly cleared 7,010, then fell as low as 6,848 as institutions took profits, before recovering into the close. Softer than expected U.S. producer price data for July, released overnight, supported the open. The KOSDAQ, the secondary market for smaller and technology companies, closed at 864.65, up 3.28 points or 0.4 percent, after spending much of the session below Thursday's close. Foreign investors were net sellers there, and the junior market has lagged the whole rebound. Elsewhere in the region, the Nikkei 225 in Tokyo closed at 68,713.80, up 0.6 percent, with Kioxia up 3.8 percent, SoftBank Group up 2.9 percent and Advantest up 2.6 percent. The composite index in Shanghai was little changed. The won traded at 1,419.10 per dollar, slightly stronger than Thursday. 2026-08-14 16:08:35