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  • More Koreans see themselves as better off than Japanese
    More Koreans see themselves as better off than Japanese SEOUL, August 14 (AJP) - South Koreans increasingly see themselves having a higher standard of living than people in Japan, a survey released ahead of Liberation Day showed. According to a survey released Thursday by online polling platform Now & Survey, 37.2 percent held that view, compared with 23.3 percent who said people in Japan had a higher standard of living. The poll, conducted by South Korean IT company Elimnet Inc.’s survey platform, questioned 1,007 adults nationwide from Aug. 7 to 10 ahead of the country's 81st Liberation Day on Saturday, which marks Korea's liberation from Japanese colonial rule in 1945. The survey had a margin of error of plus or minus 3.1 percentage points at a 95 percent confidence level. Perceptions of the two countries' overall economic strength were much closer. Some 33.5 percent said Korea had the stronger economy, while 30.0 percent chose Japan. The largest group, 36.5 percent, viewed the two economies as roughly equal. The gap widened sharply when respondents looked a decade ahead. More than half, or 51.9 percent, expected Korea to have a stronger economy than Japan in 10 years, compared with 14.0 percent who expected Japan to be stronger. Views also differed by age. Respondents aged 60 and older were the only age group more likely to see Japan as the stronger economy, pointing to a generational divide in how the two countries are perceived. Confidence in Korea was more pronounced when respondents assessed individual industries. Respondents were asked to compare competitiveness in 13 sectors on a five-point scale, with 1 indicating a strong Japanese advantage and 5 a strong Korean advantage. Korea was rated as more competitive in nine of the 13 sectors. Semiconductors ranked highest at 4.25, followed by cultural content at 4.07 and shipbuilding and marine industries at 4.01. Artificial intelligence and software scored 3.73, followed by rechargeable batteries at 3.72 and electronics and home appliances at 3.71. Defense came in at 3.59, while biotechnology and healthcare scored 3.26 and automobiles and mobility 3.24. The confidence was less clear in industries more dependent on core technologies. Advanced materials, components and manufacturing equipment and precision machinery and robotics both scored 3.17, while aerospace came in at 3.09. With scores only slightly above the neutral midpoint of 3, respondents viewed the two countries as broadly comparable in these fields. Basic science and core technologies ranked last at 2.69 and were the only category in which Japan was seen as having an advantage. The score was 1.56 points below that of semiconductors, the highest-ranked sector, showing a contrast between confidence in the country’s major industries and Japan's perceived strength in the fundamental technologies behind them. Despite differences in how the two economies were perceived, respondents broadly supported closer economic ties. 70 percent agreed that Korea should expand economic cooperation with Japan to sustain its long-term growth, while just 4.2 percent opposed it. The survey also asked respondents about Korea's achievements since liberation. Economic growth ranked first at 49.4 percent, followed by the global rise of K-content at 31.0 percent. Industrialization and export growth came next at 29.7 percent, followed by the development of democracy at 27.0 percent. AJP Takeaways • A Now & Survey poll conducted from Aug. 7 to 10, 2026, found that 37.2 percent of South Korean adults viewed living standards in South Korea as higher than in Japan, compared with 23.3 percent who viewed Japan's as higher. • On overall economic strength, 36.5 percent viewed South Korea and Japan as roughly equal, while 33.5 percent rated South Korea higher and 30.0 percent rated Japan higher. • Looking 10 years ahead, 51.9 percent expected South Korea to have a stronger economy than Japan, compared with 14.0 percent who expected Japan to be stronger. 2026-08-14 14:40:30
  • Blue House: Four-Year Term Presidential System Most Acceptable to Public
    Blue House: Four-Year Term Presidential System Most Acceptable to Public The Blue House stated on August 14 that a "four-year term presidential system" that strengthens the National Assembly's authority has the highest level of public acceptance regarding President Lee Jae-myung's plans for constitutional reform. This reaffirmation comes after remarks from People Power Party lawmaker Kim Tae-ho, who indicated that President Lee is open to pursuing a decentralized constitutional reform even if it means shortening his term.A Blue House official spoke with reporters at the Chunchugwan, saying, "We empathize with the issues surrounding the imperial presidency and believe that a four-year term presidential system with enhanced National Assembly authority is the most acceptable to the public."The official clarified, "This is not a parliamentary system but rather a way to address the limitations of the imperial presidency through a term system." They also noted that they are not specifically referring to a decentralized presidential system.The Blue House identified the National Assembly as the main body for pursuing constitutional reform. The official emphasized, "Constitutional amendments require the agreement of more than 200 members of the National Assembly, so it is preferable for discussions and initiatives to occur within the Assembly. The President has consistently stated that reforms should be pursued through consensus."Earlier, during a golf meeting with President Lee in early July, lawmaker Kim Tae-ho proposed a decentralized constitutional reform, to which President Lee reportedly responded that he believes constitutional amendments should be pursued even if it means shortening his term.According to Kim, President Lee dismissed opposition claims that the constitutional reform is aimed at extending terms or enabling long-term rule, stating, "There is a required voting threshold in the National Assembly for constitutional amendments, so if the People Power Party opposes it, it cannot pass."While the Blue House previously stated that it is difficult to confirm the President's private schedule and remarks, it has now clarified that the direction of the constitutional reform is a four-year term presidential system.As the Blue House outlines its constitutional reform plans, President Lee's approval rating has fallen to its lowest level since taking office.A survey conducted by Realmeter from August 3 to 7, commissioned by the Energy Economy Newspaper, found that President Lee's approval rating dropped by 2.6 percentage points to 43.3%. This marks the lowest figure since his inauguration and represents a decline for four consecutive weeks.Negative evaluations of his performance rose by 2.5 percentage points to 53.0%, surpassing positive evaluations by 9.7 percentage points. The phenomenon of negative evaluations exceeding positive ones, known as a "dead cross," has continued for two weeks.In a separate survey conducted from August 6 to 7 among 1,007 voters, the Democratic Party recorded a support rate of 44.6%. This is the first time the Democratic Party's support has surpassed President Lee's approval rating by 1.3 percentage points. In the previous survey, President Lee's approval rating was 45.9%, while the Democratic Party's was 45.1%, indicating a reversal in just one week.The margin of error for the presidential approval rating survey is ±2.0 percentage points at a 95% confidence level, with a response rate of 4.0%. The margin of error for the party support survey is ±3.1 percentage points at a 95% confidence level, with a response rate of 3.4%. Both surveys were conducted using a random automated response method, and further details can be found on the website of the National Election Survey Deliberation Commission.* This article has been translated by AI. 2026-08-14 14:36:00
  • Dongkuk Pharmaceutical Reports Record First-Half Operating Profit of 53.4 Billion Won
    Dongkuk Pharmaceutical Reports Record First-Half Operating Profit of 53.4 Billion Won Dongkuk Pharmaceutical has achieved its highest-ever first-half performance, driven by balanced growth in its health and beauty (H&B) and pharmaceutical sectors.On August 14, Dongkuk Pharmaceutical announced in its semi-annual report that it recorded consolidated sales of 509.9 billion won, an operating profit of 53.4 billion won, and a net profit of 43.6 billion won for the first half of the year. These figures represent increases of 11.5%, 12.6%, and 20.9%, respectively, compared to the same period last year.On a standalone basis, the company reported sales of 436.5 billion won, an operating profit of 47.8 billion won, and a net profit of 40.8 billion won, marking increases of 16.7%, 23.4%, and 32.9% year-on-year. The company attributed its profitability to improved efficiency in sales and management expenses alongside revenue growth.In the health and beauty sector, the growth of the derma-cosmetic brand Centellian24 led the way. Centellian24 expanded its distribution network in North America, Europe, Japan, and Southeast Asia, resulting in a 566% increase in overseas sales in the second quarter compared to the previous year. The brand has broadened its reach through major offline channels such as Watsons, Beautrium, Central Department Store, and Conbee, as well as online platforms. This strategy of leveraging the trust built as a pharmaceutical company to expand into consumer goods has been credited with driving sales growth.The pharmaceutical division also continued its stable growth. In the second quarter, sales in the prescription drug (ETC) segment increased by 10.5% year-on-year, while cumulative sales for the first half rose by 9.4%. Key products driving this growth included the cholesterol-lowering drug Atovanduo, the osteoarthritis treatment Celebron, and the anti-ulcer medication Rabedon.In the over-the-counter (OTC) segment, the company is expanding its portfolio of existing brands and general products, while also broadening its business through pharmacy cosmetics brand Madeca Pharma and the derma vegan cosmetic brand Luoncel.Sales in the health supplement sector surged by over 40% compared to the first half of last year. The health supplement brand MyFit has achieved cumulative sales of approximately 47 billion won since its launch.On the global front, the company is expanding the overseas supply of its prostate cancer treatment Lorelin, general anesthetic Propofol, and antibiotic raw material Teicoplanin. Uresco has signed a licensing and supply agreement worth 39 billion won over the next decade with Spanish pharmaceutical company FAES FARMA for 13 countries in Latin America, including Mexico, Colombia, and Chile.The company plans to expand its pipeline of new products and businesses through drug delivery system (DDS) technology development and open innovation.* This article has been translated by AI. 2026-08-14 14:32:00
  • Samsung Biologics and Labor Union Reach Agreement on Post-Adjustment
    Samsung Biologics and Labor Union Reach Agreement on Post-Adjustment Samsung Biologics and its labor union have reached an agreement on post-adjustment regarding wage increases and improvements to personnel systems. This development raises hopes for a shift in the long-standing labor dispute towards negotiations.On August 14, the Samsung Biologics labor union announced, "During the 24th round of collective bargaining held on August 11, the company presented a proactive opinion on post-adjustment, which the union has positively reviewed and agreed to accept." The union added that representatives from both sides would submit the signed document to the Incheon Regional Labor Commission today. Samsung Biologics also confirmed, "We have agreed to conduct post-adjustment with the union."Post-adjustment refers to a mediation process that occurs after the initial mediation has concluded, aimed at resolving labor disputes with mutual consent from both parties. It can only begin with the agreement of both sides, with the labor commission facilitating the process.Following a breakdown in negotiations, the Samsung Biologics union conducted partial strikes in April and a full strike from May 1 to May 5, and has since engaged in a legal struggle by refusing overtime and holiday work.The two sides have shown differing views on wages, bonuses, and personnel systems. The union is demanding an average wage increase of 14%, a bonus of 30 million won per person, and a distribution of 20% of operating profit as bonuses. In contrast, the company has proposed a 6.2% wage increase and a one-time payment of 6 million won.* This article has been translated by AI. 2026-08-14 14:32:00
  • Daebon Korea Shares Surge 14% on Expansion of TBK Sauce Business Abroad
    Daebon Korea Shares Surge 14% on Expansion of TBK Sauce Business Abroad Daebon Korea's stock is experiencing a surge following news of its expansion into international markets for its proprietary sauce brand.As of 1:54 PM on August 14, the Korea Exchange reported that Daebon Korea's shares rose by 2,030 won (14.41%) to 16,120 won compared to the previous trading day.Earlier, Daebon Korea announced that CEO Baek Jong-won visited a local restaurant in Los Angeles, where he introduced menu items utilizing 'TBK (The Born Korea) sauces' and discussed product supply and application methods.During his visit, Baek showcased 11 types of TBK sauces and engaged with restaurant staff regarding supply and menu integration strategies.Daebon Korea is also in discussions with local companies in the U.S. and Thailand regarding the supply and distribution of TBK sauces. The company is considering signing a memorandum of understanding (MOU) later this year if negotiations progress.The expectation that Daebon Korea's sauce business could establish itself as a significant source of overseas revenue is reflected in the stock price, especially if the supply chain expands beyond food and distribution companies to include local dining establishments.Previously, Daebon Korea focused on expanding its restaurant brands internationally, but it is now broadening its overseas business scope to include sauces and food products. The collaboration with U.S. dining establishments is expected to accelerate the expansion of its food brand's international distribution network.* This article has been translated by AI. 2026-08-14 14:28:00
  • Koreas Land Ministry Considers Housing Supply at Yongsan Childrens Garden
    Korea's Land Ministry Considers Housing Supply at Yongsan Children's Garden The possibility of utilizing land, including the Yongsan Children's Garden within Yongsan Park, for housing supply has resurfaced.Kim I-tak, the First Vice Minister of Land, Infrastructure and Transport, stated on MBC Radio's 'Kim Jong-bae's Focus' on August 14 that he would discuss the potential use of certain areas, including the Children's Garden, for housing supply with the Seoul city government.Kim noted, "Yongsan Park covers about 1 million pyeong, and the Children's Garden is approximately 90,000 pyeong. A million pyeong is an enormous area, comparable to Yeouido." He added that he intends to negotiate with the city regarding the potential use of the Children's Garden.However, the Children's Garden was not included in the list of new housing supply candidates announced by the government the previous day. Although it was mentioned as a potential site before the announcement, the Seoul city government opposes the idea of supplying housing in the Children's Garden.Kim also pointed out that there are other returned lands that could be used for housing supply. He mentioned, "In addition to the Children's Garden, there are lands returned from the U.S., including Camp Kim and other embassy residences." He emphasized that some areas around Yongsan Park should be utilized for housing supply aimed at youth and future generations.Conflicts regarding prior consultations with the Seoul city government are expected to continue. The city expressed regret over the lack of prior discussions related to the government's supply measures announced the previous day.Additionally, the development of the Taereung Golf Course in Nowon District, which was proposed as a supply site in the January 29 measures, is expected to gain momentum. Kim stated, "A couple of days ago, the Cultural Heritage Administration approved the World Heritage Impact Assessment. Domestic procedures are complete, and we expect to finish the UNESCO process this year." He added that land surveys will begin in the second half of the year.Kim also indicated that the government plans to announce additional public housing sites, which will include 73,000 housing units plus more, as early as late September or in October.He explained, "The announced figure of 73,000 units involves administrative procedures such as drafting reports. Each parcel is related to individual property rights, and if even one is omitted, it could lead to lawsuits." He noted that the administrative process, including preparing reports for public review, takes time.On the previous day, the government designated three new public housing districts in Gangseo District, Seoul, and in Namyangju and Gwangju in Gyeonggi Province, planning to supply a total of 27,000 housing units, with additional sites to be announced later.* This article has been translated by AI. 2026-08-14 14:28:00
  • Hanwha Aerospace to Enhance K9 Self-Propelled Howitzer Accuracy
    Hanwha Aerospace to Enhance K9 Self-Propelled Howitzer Accuracy Hanwha Aerospace is set to develop advanced ammunition technology that will increase the accuracy of the K9 self-propelled howitzer by approximately six times.On August 14, Hanwha Aerospace announced that it has been selected as the preferred negotiator for the 'Ballistic Correction Fuse System Development Project' for 155mm ammunition used in the K9 self-propelled howitzer. The Defense Acquisition Program Administration (DAPA) plans to invest 164.2 billion won in this project by 2032.The ballistic correction fuse is a key component that enhances the precision of existing 155mm ammunition. Mounted at the front of the projectile, it adjusts the trajectory based on a Global Positioning System (GPS) after launch, thereby improving hit rates. The new ballistic correction fuse can replace the traditional fuses currently used in existing ammunition, increasing its versatility.Hanwha Aerospace anticipates that the implementation of the ballistic correction fuse will reduce the impact error range of the K9 self-propelled howitzer to about one-sixth of its current level. This means that fewer rounds will be needed to accurately strike long-range targets. The South Korean military has been working to enhance ammunition precision since the mid-2000s to extend the range of self-propelled howitzers.A Hanwha Aerospace official stated, "The ballistic correction fuse is a core technology for future artillery systems, and we will actively contribute to the localization of advanced defense technology and the expansion of K-defense exports."In addition, Hanwha Aerospace signed a contract in April for the additional supply of 112 K9 self-propelled howitzers to Finland. Currently, the K9 is being supplied to over ten countries, including Poland, Norway, Australia, Egypt, and Romania.* This article has been translated by AI. 2026-08-14 14:20:00
  • KOSPI Stabilizes Around 6900 While KOSDAQ Turns Lower
    KOSPI Stabilizes Around 6900 While KOSDAQ Turns Lower The KOSPI index showed signs of stabilization around the 6900 level on August 14. The KOSDAQ started the day with gains but turned lower in the afternoon, trading around the 850 mark.According to the Korea Exchange, as of 1:14 PM, the KOSPI was trading at 6917.95, up 104.61 points (1.54%) from the previous trading day. The index opened at 6995.67, up 182.33 points (2.68%), and peaked at 7010.86 early in the session before fluctuating around the 6900 level.In the securities market, foreign investors were net buyers of 1.54 trillion won worth of stocks, while individual and institutional investors sold a net 520 billion won and 997.7 billion won, respectively.Among the top market capitalization stocks in the KOSPI, Hyundai Motor (up 7.65%), SK Square (up 3.85%), Samsung Electro-Mechanics (up 3.59%), SK Hynix (up 3.26%), Kia (up 3.06%), Samsung Life Insurance (up 2.74%), HD Hyundai Heavy Industries (up 2.02%), Samsung Electronics (up 1.03%), and Samsung C&T (up 0.96%) saw gains. Conversely, Hanwha Aerospace (down 2.78%), Samsung Biologics (down 0.83%), LG Energy Solution (down 0.68%), and KB Financial (down 0.06%) experienced declines.Kang Jin-hyuk, a researcher at Shinhan Investment Corp, noted, "The KOSPI continued its upward trend after the U.S. Producer Price Index (PPI) announcement eased interest rate concerns. After briefly surpassing the 7000 mark, profit-taking occurred, supported by foreign investors who have been net buyers for four consecutive trading days."At the same time, the KOSDAQ was trading at 861.25, down 0.12 points (0.01%) from the previous trading day. The index opened at 868.07, up 6.70 points (0.78%), and reached a high of 879.29 before turning lower.In the KOSDAQ market, individual investors were net buyers of 339.7 billion won, while foreign and institutional investors sold a net 112.4 billion won and 221.7 billion won, respectively.The top market capitalization stocks in the KOSDAQ showed mixed results. Stocks such as IOTech (up 6.34%), Rainbow Robotics (up 1.21%), EcoPro BM (up 1.05%), Samchundang Pharm (up 0.26%), and EcoPro (up 0.11%) rose. In contrast, Wonik IPS (down 3.42%), ABL Bio (down 3.00%), JUSUNG Engineering (down 2.34%), Alteogen (down 0.94%), Rino Technology (down 0.84%), and Peptron (down 0.76%) fell. HLB remained unchanged.Kang added, "The KOSDAQ appears to be taking a breather after a recent rebound due to excessive declines, with profit-taking emerging. While stocks related to physical AI have performed relatively well, the overall decline in major market capitalization stocks has contributed to the downturn."* This article has been translated by AI. 2026-08-14 14:16:00
  • Retinal Selected for Ministry of SMEs and Startups Global TIPS Program
    Retinal Selected for Ministry of SMEs and Startups' Global TIPS Program Retinal announced it has been selected for the Global TIPS R&D program by the Ministry of SMEs and Startups on August 14.This program aims to assist promising technology companies in enhancing their technologies and expanding into international markets by linking private investment with government R&D.Founded in 2016, Retinal specializes in display-based artificial intelligence (AI) glass optical modules, designing, developing, and manufacturing the core components of AI glasses.According to the company, the Ministry recognized Retinal's unique optical technology, product development capabilities, and the growth potential of the global AI glass market, leading to its selection for support. The goal of developing ultra-lightweight and ultra-thin optical modules to overcome the wearability limitations of existing smart glasses was also highly regarded.Retinal will receive 5 billion won in R&D funding over the next four years for the development of ultra-lightweight optical modules for glasses and for global commercialization. The company plans to reduce the thickness of its optical modules from the current approximately 7.5 mm to 3.5 mm, cutting it by more than half.Kim Jae-hyuk, CEO of Retinal, stated, "Expectations are rising for the expansion of the global AI glass market. With this selection, we will further enhance our optical technology and introduce an overwhelming next-generation optical module."* This article has been translated by AI. 2026-08-14 14:12:00
  • Actor Jung Eun-pyo Upset Over Unauthorized Use of Sons Image in Ad
    Actor Jung Eun-pyo Upset Over Unauthorized Use of Son's Image in Ad Actor Jung Eun-pyo expressed his displeasure over an advertisement that used unauthorized photos and videos of his son, Jung Ji-woong, who is currently attending Seoul National University.On August 12, Jung Eun-pyo shared on his Instagram, "A few days ago, I received a tip from a subscriber that an influencer was using photos and videos of Ji-woong and me to promote a book."The post included the phrase, 'Jung Eun-pyo's son, who only read books since childhood, ended up at Seoul National University,' along with clips from a past television appearance featuring the father-son duo. It also made it appear as if Jung Eun-pyo was personally recommending the book.Jung Eun-pyo stated, "While both Ji-woong and I like the book, I believe advertising without permission is a different matter, so I politely commented asking for it to be removed."He added, "Initially, they sent me a direct message (DM) with the advertising text. While it seemed to convey that the book is good and has received praise, that doesn’t justify unauthorized advertising."Fortunately, he noted, "I received a message apologizing for taking down the post right away," and mentioned that he blocked the influencer's Instagram account.Finally, he remarked, "I wonder if that person will face any repercussions, but blocking them is the best action I can take. I hope there are no negative feelings towards the publisher, as it is not their fault."Previously, Jung Eun-pyo and his son gained popularity by appearing on the SBS variety show 'Star Junior Show: Bungeoppang.' In 2022, it was reported that Jung Ji-woong had been accepted into Seoul National University, which garnered significant attention.* This article has been translated by AI. 2026-08-14 14:12:00