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  • Daishin Securities Accelerates Growth as It Aims for Major IB Status
    Daishin Securities Accelerates Growth as It Aims for Major IB Status Daishin Securities is rapidly improving its performance and strengthening its capital as it accelerates its leap toward becoming a major investment bank (IB). The company reported that its net profit for the first half of this year more than doubled compared to the same period last year, reaching 403.3 billion won, while its equity capital expanded to the mid-4 trillion won range. With a goal of entering the major IB sector by 2028, the growth strategy of Vice Chairman Yang Hong-seok, the third-generation owner, is gaining momentum.According to the financial investment industry on August 14, Daishin Securities' consolidated net profit for the first half of this year was 403.3 billion won, a 165.2% increase from 152.1 billion won in the same period last year.Among the top 10 securities firms by equity capital, Daishin Securities ranked ninth in net profit for the first half of the year. While its ranking remained unchanged from last year, the size of its net profit nearly tripled in one year.In the first half of this year, Mirae Asset Securities led with a net profit of 2.9 trillion won, followed by Korea Investment & Securities with 1.7 trillion won and Kiwoom Securities with 1.1 trillion won. Daishin Securities surpassed Hana Securities, which reported 273.1 billion won, although its ranking did not change, the increase in profit was significant.Notably, the improvement in performance was sharp in the second quarter. Daishin Securities reported a consolidated operating profit of 359.9 billion won for the second quarter, a 165.2% increase from the same period last year. Pre-tax profit reached 320.7 billion won, up 196.0%, and net profit was 257.8 billion won, a 242.8% increase.The increase in trading volume led to higher commission and credit income, while gains from the evaluation of held securities also boosted performance. Subsidiaries such as Daishin F&I and Daishin Savings Bank also experienced steady growth.Alongside its performance growth, Daishin Securities is also expanding its capital base, which is essential for its leap into a major IB. As of the end of June, the company's consolidated equity capital stood at 4.557 trillion won, an increase of over 300 billion won from 4.250 trillion won at the end of March.Daishin Securities has actively pursued capital expansion as it aims to enter the comprehensive financial investment business. By the end of 2023, its standalone equity capital was 2.8532 trillion won, falling short of the 3 trillion won requirement for designation as a comprehensive financial investment firm. Subsequently, in March 2024, it issued 230 billion won worth of redeemable convertible preferred shares (RCPS), meeting the 3 trillion won requirement, and was designated as the 10th comprehensive financial investment firm in the country by the Financial Services Commission in December of the same year.Daishin Securities' next goal is to become a major IB. The company aims to enter the major IB sector and obtain approval for its issuance business by 2028. It has designated the period from this year until 2028 as a 'capital expansion period' to establish a foundation for growth, with plans to significantly enhance profitability by 2030. A company official stated that there are currently no specific plans for additional capital expansion.Vice Chairman Yang is the grandson of the late Yang Jae-bong, the founder of Daishin Securities, and the son of Chairman Lee Eo-ryong of Daishin Financial Group. As the third-generation owner leading the group's growth strategy, Yang views entry into the major IB sector as a key task to elevate Daishin Securities' status.With a sharp improvement in performance this year and equity capital rising to the mid-4 trillion won range, the strategy for becoming a major IB is gaining strength. The extent to which Daishin Securities can maintain profitability while narrowing the capital gap with large securities firms will likely determine the success of Vice Chairman Yang's 'major IB leap' strategy.* This article has been translated by AI. 2026-08-14 15:44:00
  • Hwacheon County, Gangwon Education Office, and Education Support Office Collaborate on Education Innovation
    Hwacheon County, Gangwon Education Office, and Education Support Office Collaborate on Education Innovation In response to the declining school-age population and educational conditions in border areas, Hwacheon County, the Gangwon Special Self-Governing Province Education Office, and the Hwacheon Education Support Office are jointly addressing the call for education innovation leading areas. On August 14, Hwacheon County announced that the three institutions signed a memorandum of understanding at the Hwacheon County Office to establish a cooperative system for the designation of education innovation leading areas. The signing ceremony was attended by Hwacheon County Mayor Kim Se-hoon, Gangwon Special Self-Governing Province Education Superintendent Kang Sam-young, and Hwacheon Education Support Office Director Park Seong-gwan, who all signed the agreement. The three institutions agreed to develop an education innovation model tailored to local conditions and to work together to foster local talent and improve educational and residential conditions. Key areas of collaboration include establishing operational plans for education innovation leading areas, creating customized education innovation models, and fostering an educational ecosystem through the innovation of small schools. In particular, they plan to develop a 'Hwacheon-type linked curriculum' that reflects the geographical characteristics of the border area and the declining school-age population, aiming to implement it in schools. They will also explore ways to connect educational resources between schools and expand cooperation among small schools. The Hwacheon area faces challenges as individual schools struggle to operate diverse curricula and experiential activities due to a decrease in student numbers. To prevent a vicious cycle where declining student numbers lead to reduced school operations and families leaving the area, a system for jointly utilizing educational resources among schools, local governments, and communities is necessary. Being designated as an education innovation leading area is expected to enhance the foundation for expanding joint curricula among schools and local specialized programs, as well as linking personnel and facilities between local governments and educational institutions. The Ministry of Education plans to provide up to 2 billion won annually in special grants for selected areas for a maximum of five years. Mayor Kim Se-hoon stated, “This agreement is the first step in providing a higher quality educational environment for Hwacheon children and creating a virtuous cycle educational ecosystem where local talent stays and grows in Hwacheon. We will spare no administrative support to ensure we are designated as an education innovation leading area.”* This article has been translated by AI. 2026-08-14 15:32:00
  • Clean Country Reports Turnaround in Q2 Operating Profit
    Clean Country Reports Turnaround in Q2 Operating Profit Clean Country announced on August 14 that its operating profit for the second quarter reached 620 million won, marking a turnaround from a loss during the same period last year. Revenue for the quarter was 136.31 billion won, a 10.3% increase compared to the previous year.Profitability indicators also showed improvement. The gross profit for the second quarter was 22.26 billion won, up 45.0% from a year earlier, while the gross profit margin rose from 12.4% to 16.3%, an increase of 3.9 percentage points.For the first half of the year, consolidated revenue was 261.36 billion won, a 2.8% increase, and operating losses decreased by 6.7 billion won to 3.35 billion won.Clean Country attributed these results to visible outcomes from ongoing restructuring efforts that began last year. The company has proactively responded to fluctuations in raw material prices and reduced manufacturing costs through improved productivity. It has also enhanced manufacturing efficiency by reducing power consumption and expanding process automation, while continuously optimizing inventory management and marketing activities to improve its cost structure.Encouraged by these results, Clean Country plans to strengthen its profitability improvement efforts in the second half of the year. The company aims to continue enhancing cost competitiveness and operational efficiency while focusing on high-value products and growth channels to strengthen its business portfolio.A Clean Country representative stated, "We will continue to enhance cost competitiveness and productivity in the second half, focusing on high-value products and growth markets to maintain the trend of improving profitability."* This article has been translated by AI. 2026-08-14 15:32:00
  • Chugye University Holds KBO Group Viewing at Jamsil Baseball Stadium
    Chugye University Holds KBO Group Viewing at Jamsil Baseball Stadium Chugye University of Arts created a unique opportunity for students and staff to bond over sports. Breaking away from daily campus life, they united in enthusiastic cheers at the baseball stadium, enhancing their sense of community. On August 13, Chugye University announced that its University Innovation Support Project Team organized a group viewing of the KBO League as part of a cultural experience aimed at helping students settle into university life. Approximately 120 members of the Chugye community attended the event, watching the game between the Doosan Bears and Hanwha Eagles. Students and staff, who typically interact in different academic fields, came together to enjoy the lively atmosphere and connect with one another. This event was specifically designed to promote a stable university experience and foster a sense of belonging and community among students. The initiative was further enhanced by voluntary contributions for tickets and snacks, transforming the event into a cultural experience that bridged gaps between members. Lee Ha-eun, head of the university's broadcasting department and a student in the Department of Converging Arts, shared her thoughts on the event: "I usually have a busy schedule with classes, but cheering together with friends at the baseball game made me feel closer to them. I believe this will be a great memory in my university life." President Lim Sang-hyuk stated, "For students to feel a sense of belonging and continue their university life smoothly, it is essential to have not only educational programs but also natural interactions and community experiences among members. I hope this cultural experience serves as an opportunity for students and staff to communicate and feel a sense of connection as part of the university community. We will continue to operate various programs to support student satisfaction and integration into university life."Looking ahead, the University Innovation Support Project Team plans to strengthen collaboration and communication among members to enhance student retention and integration, offering participatory programs in various fields such as culture, arts, and sports.* This article has been translated by AI. 2026-08-14 15:24:00
  • LS Reports Record Q2 Operating Profit of 595.6 Billion Won, Up 153% Year-on-Year
    LS Reports Record Q2 Operating Profit of 595.6 Billion Won, Up 153% Year-on-Year LS has reported significant growth in its performance, driven by the expansion of artificial intelligence (AI) and the global increase in data centers, achieving an operating profit that surpasses last year's total in just the first half of this year.On August 14, LS announced that its Q2 revenue reached 11.236 trillion won, with an operating profit of 595.6 billion won. These figures represent increases of 40% and 153%, respectively, compared to the same period last year, marking the highest quarterly revenue and operating profit in the company's history.For the first half of the year, LS achieved a cumulative operating profit of 1.0717 trillion won, exceeding last year's total annual operating profit of 1.0526 trillion won. The cumulative revenue for the first half reached 20.528 trillion won, reflecting increases of 39% and 98.4% compared to the same period last year.This strong performance is attributed to the ongoing projects for replacing aging power grids, particularly in North America and Europe, and the expansion of AI data centers by major global tech companies. LS provides integrated solutions across the entire power infrastructure market, from copper production to transmission, transformation, and distribution. The combined order backlog for LS Cable, LS Electric, and other subsidiaries amounts to approximately 20 trillion won (as of the end of the first half, 19.5554 trillion won).Among its key subsidiaries, LS Cable has driven growth through the expansion of high-value products such as ultra-high voltage submarine cables and securing contracts for power supply systems for AI data centers in the U.S. LS Electric has achieved strong results through contracts for power equipment projects related to AI data centers and increased profitability from ultra-high voltage transformers. LS MnM has significantly improved its operating profit due to strong demand for premium copper and rising prices of precious metals and sulfuric acid products. LS I&D has seen a substantial increase in operating profit compared to the same period last year, driven by a surge in demand for special windings for transformers, particularly from its North American subsidiary, Essex Solutions.To sustain this growth, LS is investing in its power infrastructure sector, including LS Cable's submarine cable factory in Virginia and LS Electric's facilities in Texas and Utah. The company is also expanding investments in future businesses, such as secondary battery materials and critical minerals like rare earth elements. LS MnM (Onsan) and LS-LNF Battery Solutions (Saemangeum) are establishing a value chain for battery materials, including nickel sulfate and precursors, while LS Cable is securing a stable supply base for essential national materials like rare earth elements in collaboration with LS Eco Energy.An LS official stated, "In response to the power supercycle, we will strengthen reinvestment in our core and new business areas to establish a foundation for sustainable growth. We will also ensure financial soundness to respond to any market volatility through stable risk management and solid management practices."* This article has been translated by AI. 2026-08-14 15:20:00
  • HD Hyundai, TerraPower, and Hyundai Engineering Aim to Dominate U.S. SMR Market
    HD Hyundai, TerraPower, and Hyundai Engineering Aim to Dominate U.S. SMR Market HD Hyundai is intensifying efforts to capture the U.S. small modular reactor (SMR) market in collaboration with TerraPower and Hyundai Engineering.On August 14, HD Hyundai announced that Chairman Chung Ki-sun met with TerraPower founder and chairman Bill Gates, CEO Chris Levesque, and Hyundai Engineering CEO Lee Han-woo in Seoul.This meeting marked the first gathering of the top executives since the three companies signed a tripartite memorandum of understanding (MOU) in May to collaborate on next-generation sodium reactor projects.During the meeting, the executives discussed various cooperation strategies for the commercialization of land-based reactors based on the progress made so far.Chairman Chung expressed optimism, stating, "We expect to accelerate the commercialization of next-generation reactors based on a collaborative framework that encompasses technology, manufacturing, and EPC (engineering, procurement, and construction). We will actively respond to the growing demand for SMR power generation through independent technology development and collaboration with global companies."HD Hyundai has been refining the scope of its supply chain cooperation and plans to expedite investments in production facilities ahead of commercialization, aiming to supply 2-3 reactor vessels annually.In May, the three companies established a cooperation framework where TerraPower would provide sodium technology, HD Hyundai would manufacture the main reactor components, and Hyundai Engineering would handle EPC.Since beginning its investment in TerraPower in 2022, HD Hyundai has been producing cylindrical reactor vessels for sodium reactors, having secured an order from TerraPower in December 2024.In March 2025, the companies signed a strategic agreement to expand the manufacturing supply chain for sodium reactors, conducting research on manufacturing feasibility, cost competitiveness, and delivery schedules for over a year.Building on these achievements, HD Hyundai was designated as the preferred negotiator for the core equipment of TerraPower's sodium reactor main components in May.The meeting between Chairman Chung and Bill Gates took place approximately seven months after their encounter at the World Economic Forum Annual Meeting in Davos, Switzerland, in January. 2026-08-14 15:16:00
  • Despite Everything, Humanity Remains at the Center of Music
    Despite Everything, 'Humanity' Remains at the Center of Music 'Contemporary classical music' must connect with the society we live in today while performing the great legacies of the past,' said Kang Kyung-won, the 67-year-old artistic director of the Hic et Nunc! Music Festival, in a recent written interview. He added, 'This year’s program centers on the fusion of classical and modern music across various genres.'The festival, named after the Latin phrase meaning 'here and now,' embraces the present by incorporating elements of AI, literature, and visual arts. Scheduled from August 25 to September 3, this year’s event will feature 44 artists presenting 10 performances and programs.Kang explained that the main works share a common theme of exploring the deep inner self and senses of humanity through time and memory. 'These pieces start from trivial and fragmented memories and ultimately lead to profound questions about human existence,' he said.A highlight of the festival is the performance of 'Kafka-Fragmente,' celebrating the 100th anniversary of modern music master György Kurtág. This work translates fragments of Kafka’s diaries and letters into short, condensed music that captures complex human emotions.World-renowned tenor Ian Bostridge will perform Mahler’s song cycle, confronting themes of love, loss, life, death, and wandering. Another performance recreates a salon concert from Marcel Proust’s 'In Search of Lost Time,' delving into human introspection through memory and time.Kang grouped these performances under the keyword 'the outsider.' 'The characters in these works all seem to be eternal outsiders, having lost their sense of self or love, and wandering in search of meaning. I hope the audience can discover their own interpretation of 'here and now' within this rich and diverse spectrum,' he said.This year’s festival also addresses the topic of AI. Kang noted that AI has the potential to change not only the creation of classical music but also the very way we listen to it.He recalled the 'Flow Symphony,' which Sejong Soloists premiered two years ago at the Arts Center, commissioned from Professor Tod Machover of MIT Media Lab. This piece allows listeners to customize their experience by adjusting elements like the sound of flowing water, the ratio of string instruments, and the length of the piece using AI technology.A remark from Machover stuck with Kang: 'Future generations might ask, 'Did people really listen to the same piece of music repeatedly in that era?''Kang initially found it hard to imagine changing the way Beethoven’s Symphony No. 6 is listened to. However, he reflected, 'The way we listen to and experience music could change significantly in the future.'The experimentation continues. Sejong Soloists are preparing for the world premiere of 'Seoul City Symphony' next year in collaboration with MIT Media Lab and KAIST’s Urban AI Research Institute. This project will transform citizens’ participation, interviews, sounds, movements, and big data from Seoul into musical material, painting a portrait of the city.Kang stated, 'Without new technologies like AI, it would have been difficult to create works in this manner.'However, he emphasized that the future does not envision AI as the main agent in music. 'AI can be an important tool that uncovers sounds and patterns we have yet to discover, connects vast amounts of data in new ways, and expands the possibilities for audience participation in music,' he said.Yet, the core of music remains unchanged. 'In classical music, these technologies ultimately aim to awaken human emotions and create beauty, don’t you think? Personally, I believe that at the center of music, there will always be humanity and human attributes,' he concluded. 2026-08-14 15:16:00
  • Gwangmyeong Mayor Park Seung-won: We Will Remember Victims Pain and Testimonies
    Gwangmyeong Mayor Park Seung-won: 'We Will Remember Victims' Pain and Testimonies' Park Seung-won, the mayor of Gwangmyeong, stated on August 14, "We will not forget the pain of the victims and their courageous testimonies, and we will carry their wishes forward through peace and human rights." He is taking the lead in advocating for the rights and honor of the victims of the Japanese military's comfort women.During the '2026 Comfort Women Victims Memorial Day' ceremony held in front of the Statue of Peace at Gwangmyeong Cave, Mayor Park commemorated the victims and reflected on the significance of peace and human rights with the citizens.Attendees paid tribute to the victims through flower offerings and poetry readings, while also viewing an exhibition of poems centered around the statue, revisiting the historical significance of the comfort women issue.Mayor Park emphasized, "Remembering the pain of the victims is the starting point for protecting human rights and peace." This statement reflects his vision to ensure that the issue of comfort women is not relegated to the past but is expanded into values of human rights, dignity, and peace that our society must uphold today.He made it clear that by remembering the courageous testimonies of the victims and sharing the value of peace with citizens, he aims to pass on historical lessons to future generations.Gathering with citizens in front of the statue, Mayor Park highlighted the community's role in being "a Gwangmyeong that remembers and practices peace." He stressed the importance of continuing the values of history and human rights in daily life, centered around the Statue of Peace.Indeed, the Statue of Peace in Gwangmyeong was established in 2015 with funds voluntarily raised by citizens to commemorate the 70th anniversary of Korea's liberation.As a symbol of peace and human rights representing Gwangmyeong, it has been recognized for its establishment through the power of the citizens.Members of the Women's Council continue to maintain the 'Flower Garden for Peace' around the statue, allowing citizens to reflect on the meaning of peace.Citizens attending the ceremony expressed their unified hope for the complete restoration of the victims' rights and honor. They resonated with the sentiment that "not forgetting the voices of the victims is the most important form of remembrance" and that "properly remembering the past is essential for securing future peace," wishing for the statue to remain a symbol of peace and human rights in Gwangmyeong.Mayor Park reiterated his commitment to creating a city of peace and human rights in Gwangmyeong, made in collaboration with the citizens. He affirmed, "I will not forget the pain of the victims and their courageous testimonies," and emphasized the message of carrying that memory into the values of peace and human rights in the daily lives of citizens.He added, "I will work to create a Gwangmyeong where everyone is respected and can live peacefully." Meanwhile, Mayor Park plans to take further steps in Gwangmyeong, where history is remembered, to ensure that everyone is respected and can live peacefully.* This article has been translated by AI. 2026-08-14 15:16:00
  • SK Networks Reports 2nd Quarter Operating Profit of 24.8 Billion Won, Down 42.4% Year-on-Year
    SK Networks Reports 2nd Quarter Operating Profit of 24.8 Billion Won, Down 42.4% Year-on-Year SK Networks announced on August 14 that it recorded consolidated sales of 1.4445 trillion won and an operating profit of 24.8 billion won for the second quarter of this year. Compared to the same period last year, sales decreased by 4.7%, while operating profit fell by 42.4%.The decline in operating profit is attributed to strategic adjustments in marketing expenses for information and communication, anticipating intensified market competition following the abolition of the Mobile Device Distribution Improvement Act in the second half of last year. Additionally, advertising expenditures for new products from SK Intellix also impacted the results.Pre-tax profit reached 37.1 billion won, bolstered by increased valuation gains from investments in companies like Upstage and Phoenix Lab. SK Networks invested 25 billion won in Upstage as a lead investor in the Series B round at the beginning of 2024, followed by an additional 47 billion won through a call option and 50 billion won in the Series C round, acquiring an 11.7% stake.Upstage was recognized for its technology as the only startup selected in the first evaluation of the national AI foundation model project in January.Phoenix Lab, an AI startup established through SK Networks' early-stage business incubation program, was founded by Choi Sung-hwan, president of SK Networks, who personally recruited promising talents from Stanford University in the U.S. The company has developed and is currently offering 'K-LON', the first generative AI drug development solution based on RAG (Retrieval-Augmented Generation) in South Korea. Recently, it completed a seed investment round of $8 million, led by Menlo Ventures, marking the first instance of a startup from SK Networks' incubation program successfully attracting external investment.Walkerhill Hotel & Resort reported strong food and beverage sales, supported by over 70% room occupancy. SK Speedmate maintained solid profitability through increased customer visits for maintenance and the discovery of new clients for emergency services. Global trading subsidiary Glowide achieved more than double the operating profit compared to the same period last year, despite geopolitical risks such as U.S. tariffs and the U.S.-Iran conflict. InCross, which joined SK Networks this year, showed growth across all business areas, including expanding its marketing agency services and achieving record sales in the search advertising sector through its subsidiary Mindnock. Data and AI specialist Enkora saw increased revenue in its consulting and solutions divisions, driven by large project acquisitions.Additionally, SK Intellix enhanced brand recognition and preference for its health platform brand SK Magic by appointing actor Byun Woo-seok as its advertising model. In connection with this, it launched the 'Two Water Purifier', which allows users to choose between mineral and pure water, and the 'MEGA ICE Purifier', which produces ice that is twice the size and harder than regular ice, receiving a positive response from customers.The wellness robotics brand 'Namux' officially launched 'Safe Care', which uses autonomous driving and vision AI technology to identify intruders and detect hazardous situations, along with a remote monitoring service called 'Live View'.SK Networks plans to maximize efficiency across its business processes by applying AI while monitoring the unstable domestic and international business environment.A representative from SK Networks stated, "Despite the expansion of global geopolitical risks and uncertainties in the financial market, we have achieved various results across our business and investment portfolio. Based on a stable financial structure, we will secure the fundamental competitiveness of our business and support the AI transformation of our business and subsidiaries as an AI-centered holding company, accelerating our approach to future innovations with AI."* This article has been translated by AI. 2026-08-14 15:04:00
  • Koreas game groups press for production and e-sports tax breaks
    Korea's game groups press for production and e-sports tax breaks SEOUL, August 14 (AJP) - South Korea's game industry associations urged the government to extend tax relief to game production costs and e-sports tournaments, arguing that the country's most lucrative cultural export remains shut out of incentives its rivals take for granted. Five bodies, including the Korea Game Developers Association, the Korea Association of Game Industry and the Korea e-Sports Association, said in a joint statement on Friday that games account for about 60 percent of the country's content exports yet are excluded from the production-cost tax credit available to film, broadcast, over-the-top and webtoon producers. The groups said existing research and integrated investment credits fail to capture the outlays unique to game-making, such as planning, scenario writing, graphics and localization. Britain, France and Canada, they noted, run production rebate schemes of 25 percent to 30 percent or more. "A tax credit applied after the fact, to companies that actually host tournaments and spend the money, is an indispensable system," the associations said, warning that discretionary grants alone would not spur private investment. Citing a Korea Creative Content Agency study, they said a production-cost credit could generate about 2.26 trillion won ($1.59 billion) in output and roughly 15,000 jobs over five years. The associations also called for extending an expiring e-sports credit, now covering 10 percent of operating costs for tournaments held outside the capital region, urging that it be widened nationwide and raised to 20 percent before its scheduled expiry at the end of 2026. AJP Takeaways • The government's 2026 tax reform proposal moves the existing e-sports credit toward a spending-based grant system, a shift the industry opposes as narrower and less predictable than an automatic credit. • The push reflects a persistent gap: webtoons won a production credit effective 2026, but games and music remain excluded, despite repeated legislative attempts from both major parties. • The Ministry of Economy and Finance has resisted, arguing the film-oriented credit targets sectors with strong nation-branding and tourism spillovers — a rationale the game groups directly contest with their export-share figure. 2026-08-14 15:02:02