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  • HD Hyundai chief set to meet Bill Gates in Seoul
    HD Hyundai chief set to meet Bill Gates in Seoul SEOUL, August 13 (AJP) - Bill Gates, founder and chairman of U.S. nuclear energy firm TerraPower, is set to meet HD Hyundai chairman Chung Ki-sun in Seoul this week to discuss ways to expand cooperation in small modular reactors (SMRs), according to industry sources on Thursday. Their meeting comes about seven months after they last met on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, in January. The Microsoft founder is also scheduled to meet with Prime Minister Han Seong-sook and National Assembly speaker Cho Jeong-sik, as well as executives from SK and HD Hyundai, during his visit to Seoul. SK and HD Hyundai are major shareholders in TerraPower, which Gates founded in 2008 to develop next-generation nuclear technologies. HD Hyundai has been strengthening its partnership with TerraPower in the SMR sector, with the conglomerate's shipbuilding holding company, HD Korea Shipbuilding & Offshore Engineering, investing US$30 million in the U.S. nuclear company. HD Hyundai has since been involved in the development of TerraPower's 345-megawatt Natrium sodium-cooled fast reactor in Wyoming. In March last year, Chung and Gates also signed a memorandum of understanding to expand the manufacturing and supply chain for the commercialization of the Natrium reactor. Following further meetings and discussions, HD Hyundai Heavy Industries, an affiliate of HD Hyundai, signed a deal with TerraPower to supply equipment for the reactor and was selected as a preferred manufacturer of its key components. HD Hyundai is also developing technologies to use SMRs as marine power sources, combining its shipbuilding expertise with next-generation nuclear technology. AJP Takeaways: - Bill Gates, founder and chairman of TerraPower, is scheduled to meet HD Hyundai Chairman Chung Ki-sun in Seoul on Aug. 13, 2026, to discuss expanding cooperation in small modular reactors or SMRs. - Bill Gates is also scheduled to meet Prime Minister Han Seong-sook, National Assembly Speaker Cho Jeong-sik, and executives from SK and HD Hyundai during his visit to Korea. - HD Korea Shipbuilding & Offshore Engineering, HD Hyundai's shipbuilding holding company, invested US$30 million in TerraPower, strengthening the two companies' partnership in advanced nuclear energy. - HD Hyundai is participating in TerraPower's 345-megawatt Natrium sodium-cooled fast reactor project in Wyoming, while HD Hyundai Heavy Industries has been selected as a preferred manufacturer of key reactor components. - HD Hyundai and TerraPower are expanding cooperation beyond the Natrium reactor, with HD Hyundai also developing technologies to use SMRs as marine power sources by combining its shipbuilding expertise with next-generation nuclear technology. 2026-08-13 09:21:38
  • South Korea to Boost Nuclear Power Exports with Safety Regulation Support
    South Korea to Boost Nuclear Power Exports with Safety Regulation Support The South Korean government is set to enhance its approach to nuclear power exports by supporting not only construction and technology but also the establishment of safety regulation systems. The initiative aims to increase export competitiveness, particularly targeting countries like Vietnam and the Philippines that are pursuing new nuclear power projects.On August 13, the Ministry of Trade and the Nuclear Safety Commission announced the signing of a memorandum of understanding (MOU) at the Korea Trade Insurance Corporation in Seoul to facilitate the successful overseas deployment of Korean-style nuclear power plants.Under this agreement, the Ministry and the Commission will continuously share information on the status of overseas nuclear projects, regulatory conditions by country, and cooperation needs. They will also assist in building regulatory frameworks tailored to the project stages in the target export countries, leveraging the regulatory experience accumulated in South Korea during the design, construction, and operation of nuclear power plants.Previously, when regulatory cooperation was requested from abroad, the Ministry would relay the demand to the Commission, which would respond individually with specialized agencies. This new framework will integrate nuclear exports with regulatory cooperation from the initial stages of projects, allowing for a coordinated response.Countries looking to introduce new nuclear power must establish relevant laws, permitting processes, and technical standards, as well as develop regulatory bodies and specialized personnel. The International Atomic Energy Agency (IAEA) recommends that countries seeking to adopt nuclear power secure regulatory frameworks and licensing capabilities before selecting technology suppliers.The South Korean government is particularly focused on the Southeast Asian market, where countries like Vietnam and the Philippines are showing interest in new nuclear projects. Following the signing of the MOU, a meeting between the Ministry and the Commission reviewed the status of nuclear projects in Vietnam, the Czech Republic, and the Philippines, and discussed country-specific strategies based on regulatory cooperation examples from the United Arab Emirates and the Czech Republic.Additionally, Korea Electric Power Corporation, Korea Hydro & Nuclear Power, the Nuclear Export Industry Association, the Korea Atomic Energy Safety Technology Institute, and the Korea Atomic Energy Control Technology Institute signed separate agreements. The government will define cooperation directions for each country, allowing relevant agencies to carry out specific regulatory cooperation tasks.Minister of Trade Kim Jeong-kwan stated, "We have established an official cooperation framework that systematically links nuclear exports with regulatory cooperation, consolidating the expertise of both ministries and related agencies. We will comprehensively respond to the diverse cooperation needs of countries introducing new nuclear power, such as Vietnam."Chairman Choi Won-ho of the Nuclear Safety Commission remarked, "We will promote regulatory cooperation tailored to the conditions and needs of countries that are targets for our nuclear exports, based on our accumulated regulatory experience and expertise."* This article has been translated by AI. 2026-08-13 09:20:20
  • Zhu Rongji, Former Chinese Premier, Dies at 98
    Zhu Rongji, Former Chinese Premier, Dies at 98 Zhu Rongji, the former Premier of the State Council of China, passed away on August 12 at the age of 98. Following his death, Chinese media outlets have been commemorating his achievements, while social media users express their condolences.Throughout his life, Zhu was known for his impactful statements. He was appointed Premier in March 1998 during the National People's Congress. In his first press conference, he declared, "Whether there are minefields or cliffs ahead, I will move forward without looking back," vowing to work tirelessly until his last breath.In a notable anti-corruption meeting in 1998, he famously stated, "To eradicate corruption, we must start with the big fish. I have prepared 100 coffins; 99 are for corrupt officials, and the remaining one is for me."During the devastating floods in the Yangtze River basin in 1998, he visited a poorly constructed levee in Jiangxi Province and criticized local officials, saying, "You claimed it was as solid as a steel wall, yet the levee is as weak as tofu." He harshly condemned the substandard construction.In a 2002 press conference, responding to public perceptions that he was intimidating, he acknowledged, "I have slammed the table and glared, but I have never frightened ordinary citizens; my focus was solely on corrupt officials."While visiting Hong Kong in 2002, he remarked, "If Hong Kong does not thrive, the responsibility lies not only with you but also with us. If Hong Kong, returned to the motherland, falters under our watch, we will be the nation's sinners," before passionately declaring, "I love Hong Kong!"When asked in 2000 what legacy he hoped to leave after his retirement, Zhu replied, "If the people say Zhu Rongji was an honest official, not a corrupt one, I would be satisfied. If they could say I did some good work, that would be even better."In March 2000, ahead of China's accession to the World Trade Organization (WTO), Zhu expressed his views at a press conference, stating, "If President Bill Clinton prevents China's WTO membership, he will regret it for the next 20 years. To add to that, the U.S. will regret it for a century." He emphasized that China made significant concessions during the negotiations and that U.S. economic interests would greatly benefit from China's WTO membership. 2026-08-13 09:20:10
  • KNSI Soars Nearly 100% on First Day of KOSDAQ Listing
    KNSI Soars Nearly 100% on First Day of KOSDAQ Listing KNSI, a company specializing in satellite communication antennas, has seen its stock price nearly double on its first day of trading on the KOSDAQ.As of 9:16 a.m. on August 13, KNSI's shares were trading at 21,950 won, up 10,950 won (99.55%) from the initial public offering price of 11,000 won. The stock opened at 19,000 won, which is 72.7% higher than the IPO price.Founded in 2001, KNSI develops and manufactures satellite communication antennas for maritime and military applications, including products for surface ships and submarines. The company is also expanding its business into next-generation electronic phased array (ESA) flat panel antennas.During the IPO process, institutional investors showed significant interest. From July 27 to 31, 2,024 institutions participated in the demand forecast, resulting in a competition ratio of 938.24 to 1. The final IPO price was set at the upper end of the proposed range, at 11,000 won.The funds raised will be used to expand research and development personnel for military and ESA flat panel antennas, enhance infrastructure, introduce ESA measurement and RF design software, and secure key raw materials. Meanwhile, the stock price has shown a significant upward trend since the market opened, reflecting strong investor interest in newly listed shares.* This article has been translated by AI. 2026-08-13 09:20:10
  • Deputy Prime Minister Koo Yoon-cheol to Announce Youth Employment Recovery Plan
    Deputy Prime Minister Koo Yoon-cheol to Announce Youth Employment Recovery Plan Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol announced plans to swiftly unveil a recovery strategy for youth employment in response to ongoing job market challenges. The government aims to implement tailored measures for the manufacturing and construction sectors while promoting corporate investment centered around three major mega projects to create quality jobs.On August 13, Koo convened a meeting at the Government Seoul Complex, which included the Emergency Economic Headquarters, the Economic Relations Ministers' Meeting, and the Task Force for Special Management of Living Prices. The agenda included discussions on the response to the Middle East conflict, measures to stabilize prices and supply of agricultural and marine products amid heatwaves and droughts, and support for innovation and investment in businesses.Last month, the number of employed individuals increased by 108,000 compared to the same month last year, marking a two-digit growth for the first time in four months. The increase followed a decline of 40,000 in May, with subsequent gains of 63,000 in June and 108,000 in July.However, employment challenges persist among youth and in the manufacturing and construction sectors. The prolonged conflict in the Middle East, along with heatwaves and drought in some regions, are cited as potential risks to employment and prices.Koo stated, “The government will promptly prepare and announce a recovery plan for youth employment and will also develop tailored employment measures for struggling sectors such as manufacturing and construction.”He emphasized the need to accelerate the three mega projects while creating a virtuous cycle where corporate investment leads to enhanced growth and the creation of quality jobs favored by young people.The government will support the activation of delayed on-site projects that have been stalled due to regulatory issues despite corporate demand. In the Gumi and Pohang national industrial complexes, the government will allow not only the establishment of secondary battery manufacturing but also the entry of secondary battery resource recycling businesses, aiming to attract approximately 100 billion won in new investments.For large-scale industrial complexes like the Yongin semiconductor cluster, the government plans to improve the system to allow separate permits for factory expansions, independent of existing building permits. This change is expected to facilitate the swift execution of around 25 trillion won in investments.In the Ochang Science Industrial Complex, a bio company will be allowed to expand its factory using adjacent land, supporting approximately 530 billion won in new investments.Safety standards for industrial robots will be revised to encompass new types, including collaborative and mobile robots. The government will introduce performance-based fire safety design using computer simulations for six key advanced strategic industries: semiconductors, secondary batteries, displays, biotechnology, robotics, and defense.To support new industries and 100% renewable energy (RE100) demand, the limit for designated restricted business zones within industrial complexes will be expanded from the current 30% to 50%.The government is also responding to supply instability in agricultural and marine products due to heatwaves and droughts. It plans to invest 2.2 billion won in discounts for fertilizers and nutrients for cabbage, radishes, fruits, and vegetables, and increase the budget for high-temperature response equipment in aquaculture from 5.8 billion won last year to 9.4 billion won this year.Depending on supply conditions, the government plans to release stockpiled cabbage and radishes into the market and offer discounts of up to 50% on major agricultural and marine products until the Chuseok holiday.The second phase of the 'Everyone's Startup' project will also begin recruitment this month. The government plans to select 10,000 successful candidates in early October, followed by regional auditions and a national competition to determine the final winner. By November, mentoring will be provided through 170 specialized incubation institutions, and specialized leagues will be operated for global, university, youth, and social ventures.* This article has been translated by AI. 2026-08-13 09:20:00
  • Ottogi to Raise Prices on Cup Noodles and Dumplings Next Month
    Ottogi to Raise Prices on Cup Noodles and Dumplings Next Month Ottogi will increase prices on some of its cup noodles and dumpling products.The company announced on August 13 that starting September 7, it will raise the ex-factory prices of 29 items across 11 cup noodle brands by an average of 6.7% and 16 items across 3 dumpling brands by 7.7%.The price adjustments will affect products including Jin Ramen, Yeol Ramen, Sesame Ramen, and Cup Noodles, as well as select items from the premium dumpling brand 'X.O.' The changes will first apply at large supermarkets, with retail prices adjusted through discussions with distributors.As a result, the expected retail price for the Jin Ramen Spicy Cup (110g) and Yeol Ramen Cup (105g) will increase by 100 won, from 1,200 won to 1,300 won each. The Sesame Ramen Cup (110g) is expected to rise by 150 won, from 1,400 won to 1,550 won.Among the dumpling products, the X.O. Gyoza (324g×2) and Gyoza with Shrimp & Crab (324g×2) will see a price increase of 1,000 won, from 10,480 won to 11,480 won each.However, all instant noodles, which account for about 60% of total noodle sales, will not see any price increases.Ottogi cited rising costs of raw materials and packaging due to high exchange rates and fluctuations in international oil prices as the reasons for the price hike. The company has been working on improving production efficiency and reducing costs, but it determined that price adjustments for some items were unavoidable due to prolonged cost pressures.An Ottogi representative stated, "Due to the cumulative cost burden from rising prices of key raw materials and packaging, we have decided to adjust the ex-factory prices of some products. We have kept the prices of instant noodles stable to consider consumer burden and will continue to strive to minimize price increase factors while ensuring stable product supply."Earlier, Nongshim also raised the ex-factory prices of 43 brands of noodles, snacks, and beverages by an average of 5.8% starting August 1. The average price increase by item was 6.0% for cup noodles, 5.5% for snacks, and 7.7% for beverages. 2026-08-13 09:20:00
  • Celltrions Three ADC Drug Candidates Receive FDA Fast Track Designation
    Celltrion's Three ADC Drug Candidates Receive FDA Fast Track Designation Celltrion announced that all three of its antibody-drug conjugate (ADC) candidates have received Fast Track designation from the U.S. Food and Drug Administration (FDA). This designation allows the company to closely collaborate with the FDA on development and approval strategies, aiming to expedite global commercialization.The FDA's Fast Track program is designed to facilitate the development and review of drugs that treat serious conditions and fill unmet medical needs. With this designation, Celltrion can engage in close consultations with the FDA throughout the clinical development process, receiving active support in clinical design and approval strategy.On August 13, Celltrion revealed that its ADC candidate 'CT-P73' has been designated as a Fast Track target by the FDA. This means that all three ADC candidates currently undergoing Phase 1 trials (CT-P70, CT-P71, CT-P73) have received Fast Track status.The Fast Track designation for CT-P73 specifically targets treatment indications for patients with recurrent and metastatic cervical cancer who have a history of platinum-based chemotherapy (PBC).Celltrion is conducting Phase 1 trials for CT-P70, CT-P71, and CT-P73, which target c-MET, Nectin-4, and tissue factors, respectively. CT-P70 received Fast Track designation from the FDA in December of last year, while CT-P71 was designated in April.Celltrion plans to directly manage the development and global commercialization of the most competitive candidates among the three ADCs, aiming to cultivate them as key drivers of long-term new drug revenue. For candidates that are favorable for strategic partnerships, the company intends to pursue licensing agreements to explore early monetization opportunities through royalties and milestone payments.A Celltrion representative stated, "We will strategically choose between in-house development and commercialization or technology transfer for each candidate based on a thorough evaluation of clinical data and market potential, thereby enhancing both the long-term growth value and early monetization prospects of our new drugs."Celltrion aims to complete Phase 1 Part 1 trials for two of the three ADC candidates by the end of this year and plans to sequentially announce topline results starting in the first half of next year. The company also intends to rapidly advance into Part 2 for dose optimization. The fastest-developing candidate, CT-P70, is targeting a Part 2 entry by March of next year.Additionally, Celltrion plans to apply for Fast Track designation for its multi-antibody candidate CT-P72 within this year. Following the ADCs, the company aims to expand its new drug pipeline with multi-antibodies and strengthen the long-term growth foundation of its new drug sector by linking development-stage achievements with commercialization strategies.* This article has been translated by AI. 2026-08-13 09:16:00
  • Special Prosecutor Charges Yoon Suk Yeol and Shin Won-sik for Justifying Martial Law
    Special Prosecutor Charges Yoon Suk Yeol and Shin Won-sik for Justifying Martial Law The second comprehensive special prosecutor team, led by Kwon Chang-young, has indicted former President Yoon Suk Yeol and former National Security Director Shin Won-sik for allegedly attempting to justify martial law on December 3. The prosecutor's office applied the charge of important duties related to insurrection to Shin, while determining that his level of involvement warranted a non-custodial indictment, differentiating his responsibility from that of his co-defendant, Kim Tae-hyo.On August 12, the special prosecutor's office indicted Yoon for abuse of power and Shin for important duties related to insurrection and abuse of power, both without detention.Yoon is accused of directing the dissemination of messages justifying martial law to key allies, including the United States, the United Kingdom, Japan, and the European Union, from December 3 to the following day. The special prosecutor's office believes Yoon's orders were communicated through Shin and Kim to the presidential office and the Ministry of Foreign Affairs.The special prosecutor's office determined that Shin, in collusion with Yoon and Kim, disseminated messages justifying martial law to certain countries, which they classified as actions that went beyond mere abuse of power and constituted participation in insurrection. They concluded that Shin played a crucial role in securing the legitimacy of the insurrection and garnering external support.However, the treatment of Shin's case differed from that of Kim, who was arrested and indicted on July 29 for the same charges. While Shin faced similar allegations, the special prosecutor's office deemed his level of involvement to be relatively lighter than Kim's, leading to a non-custodial indictment. This indicates that while both were involved in the same criminal structure, their specific roles and responsibilities were viewed as distinct.Yoon was not separately charged with important duties related to insurrection, as he is already facing trial for being the leader of the insurrection in connection with martial law. Therefore, only the abuse of power charge was applied in this case.This indictment is noteworthy as it considers actions taken to justify martial law after its repeal as an extension of the insurrection. The special prosecutor's office views the end of the insurrection not as the repeal of martial law on December 4, 2024, but rather as the passage of the impeachment motion against Yoon on December 14 of the same year. Consequently, actions taken to communicate the legitimacy of martial law after its declaration are included under the charge of important duties related to insurrection.This perspective differs from that of the special prosecutor team, led by Jo Eun-seok, which argues that the repeal of martial law should be seen as the end of the insurrection. Future trials are expected to address the specifics of Shin's involvement and whether actions taken to justify martial law after its repeal can be classified as insurrection.The comprehensive special prosecutor has requested the court to consolidate the cases of Yoon and Shin with that of Kim, which has already been submitted for trial. This is interpreted as an effort to prove the process of disseminating the martial law justification messages and the collusion among the three in a single trial.* This article has been translated by AI. 2026-08-13 09:12:00
  • People Power Party Plans Legal Action After Election Commission Rejects Appeals
    People Power Party Plans Legal Action After Election Commission Rejects Appeals The National Election Commission has rejected all appeals from the People Power Party regarding the invalidation of elections for seven regional heads, including Seoul. Jang Dong-hyuk, the party's leader, stated that the matter will ultimately require a special investigation, indicating plans for legal action.On August 13, the People Power Party reported that Jang expressed on his Facebook page the expectation that the Election Commission would dismiss the party's election appeals. He noted that the Commission claimed there were violations related to a shortage of ballots and interruptions during voting, but argued that these did not affect the election results.Previously, the Election Commission dismissed appeals concerning elections for proportional representatives in the Seoul City Council, as well as the mayors of Incheon, Busan, Ulsan, and the governors of Gyeonggi Province, Chungcheongbuk-do, and the integrated mayor of Gwangju.While the Commission acknowledged that there were violations regarding ballot shortages and voting interruptions in the Seoul mayoral election, it concluded that these did not impact the election results, leading to the dismissal of the appeal. Recently, the Commission also rejected appeals related to the Seoul mayoral election filed by general voters.Election appeals are procedures for contesting the validity of elections based on issues related to election management. Once an appeal is submitted to the Election Commission, the Appeals Review Committee must make a decision within 60 days. If the appeal is dismissed, the appellant can file a lawsuit within 10 days of receiving the notification.Jang emphasized, "Ultimately, we will have to pursue a special investigation and proceed with election litigation. The National Election Commission must be held accountable for its dismissal of our appeal." He reiterated plans for legal action, claiming that the Commission failed to properly assess the grounds for the election invalidation appeal.He criticized the Commission's conclusion, stating, "They say there was cheating, but since the rankings didn't change, it's fine. No one knows whether the rankings changed or not. This appeal was about determining whether the election results were affected or not. Yet, the Commission arbitrarily concluded that it did not have an impact, which is a self-serving response."Jang concluded, "We will not stop fighting until the truth is revealed and the people's votes are restored. We will continue to fight alongside the youth and citizens."* This article has been translated by AI. 2026-08-13 09:12:00
  • NOL Money by NOL Universe Celebrates One Year with 430,000 Subscribers
    NOL Money by NOL Universe Celebrates One Year with 430,000 Subscribers NOL Universe's prepaid payment service, NOL Money, has marked its first anniversary. The service, which offers payment benefits tailored for travel and leisure, has established itself as a key component in enhancing customer experience on the platform.Since its launch in August 2025, NOL Money has seen steady growth, surpassing 430,000 total subscribers. Both the number of users and transaction amounts have more than tripled compared to the first month of its launch. The highest usage categories include domestic accommodations, performances and exhibitions, and domestic leisure products. Notably, from January to July 2026, the average monthly transaction frequency for NOL Money users was approximately 26% higher than that of regular payment customers, indicating a successful cycle of repeated service use.NOL Money offers a maximum of 2% rewards on payments made after charging the account. Accumulated points can be freely used across various categories on the platform, including accommodations, transportation, leisure, and performance tickets.Starting in September, NOL Universe plans to enhance its existing rewards by introducing immediate discounts on select products when paid with NOL Money. The company also aims to strengthen payment convenience through ongoing partnerships with various financial institutions.Yoon Hyun-mo, Chief Product Officer of NOL Universe, stated, "NOL Money seamlessly connects all leisure activities, from accommodations to performances, into a single payment experience, driving high repeat usage and satisfaction. We plan to continue expanding connectivity between various services and enhancing the payment experience, allowing customers to naturally transition between travel and leisure on one platform."In addition to enhancing payment convenience and benefits, NOL Universe is broadening user advantages through its largest discount event of the year. The NOL platform will conduct the final discount and live special price event of the NOL Day campaign until August 17. For domestic travelers, it will offer accommodation discount coupon packs worth up to 200,000 won and showcase major hotels, resorts, and leisure products at discounts of up to 70%.Various benefits for international travel are also available. Every day at 10 a.m., the platform issues coupons for up to 50% off international flight tickets and up to 10% off international accommodations on a first-come, first-served basis. Additionally, it provides ongoing 5% discount coupons for popular routes to Japan, China, and Taiwan, as well as for overseas package deals.Discounts for performances and exhibitions have also been added. Popular shows such as the musical "Gwanghwamun Sonata," "Portrait of a Boy," and the play "Socrates Paradox" are available at discounts of up to 60%. Furthermore, every day at 10 a.m., the platform distributes performance and exhibition coupon packs worth a total of 11,000 won on a first-come, first-served basis, and customers who complete their viewing will receive an additional 6,000 won discount coupon.* This article has been translated by AI. 2026-08-13 09:08:20