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  • Naver Proposes Unified Labor Negotiations, Raising Tensions in IT Sector
    Naver Proposes Unified Labor Negotiations, Raising Tensions in IT Sector Naver's labor union is advocating for the consolidation of collective bargaining, currently conducted by individual subsidiaries, into a unified approach for the entire corporate group. This move has raised concerns among competitors, including Kakao and the gaming industry.On August 12, Oh Se-yoon, vice chair of the IT committee of the Korean Chemical and Textile Workers' Union and head of the Naver branch, spoke at a forum held at the National Assembly, stating, "The Naver branch is negotiating collective agreements with 15 companies, including Naver itself. Each year, over 100 negotiators from both labor and management spend more than 1,000 hours on negotiations, totaling 150 sessions annually."He continued, "Conducting separate negotiations on similar issues within the same corporate group incurs significant time and costs. Even with identical working conditions, subtle differences arise between corporations, leading to increased feelings of deprivation among subsidiary workers."Oh argued that the parent company effectively controls its subsidiaries, linking management and operations. He clarified that the goal of unified negotiations is not to standardize wages and benefits across all subsidiaries but to negotiate common labor conditions at the corporate group level while addressing individual company matters separately.Panelist Park Myung-jun, a senior researcher at the Korea Labor Institute, explained, "Reducing repetitive negotiations and adjustment processes at the corporate level can lower overall negotiation costs and establish common principles applicable to subsidiaries, allowing for more stable management of inter-company conflicts."Major IT companies, including Naver, express significant concerns about unified negotiations. The challenge lies in applying different wage compensations for profitable and unprofitable subsidiaries, which could lead to increased labor costs. Conflicts at one subsidiary could potentially trigger joint strikes or work stoppages across all subsidiaries.The key issue is whether the parent company has substantial control over the working conditions of its subsidiaries. Acknowledging this control could undermine the unique management rights of each subsidiary's CEO, raising concerns about management interference.Particularly, Kakao, which has multiple subsidiaries, and the gaming industry, with various development studios and affiliates, share similar corporate structures. If discussions on unified negotiations expand, labor relations could deteriorate rapidly.Meanwhile, the push for unified negotiations originated from Naver's subsidiary, Naver Z. While Naver agreed to a wage increase of 5.3%, Naver Z froze salaries due to market downturns. The union subsequently demanded a raise at the corporate level, leading to a breakdown in negotiations. The Gyeonggi Regional Labor Relations Commission attempted mediation, but it ended without significant results.* This article has been translated by AI. 2026-08-12 14:40:10
  • Kim Hak-kyun of Shin Young Securities: Reviving the KOSDAQ Market Requires Trust Restoration
    Kim Hak-kyun of Shin Young Securities: Reviving the KOSDAQ Market Requires Trust Restoration Kim Hak-kyun, head of the research center at Shin Young Securities, began his career as an analyst in 1997. He has worked at Shinhan Investment Corp., Korea Investment & Securities, and Mirae Asset Daewoo before leading the research center at Shin Young Securities. He has witnessed significant turning points in the Korean capital market, from the Asian financial crisis to the global financial crisis and the surge in the stock market following the COVID-19 pandemic. While the KOSPI has seen some growth, the KOSDAQ has struggled to escape its prolonged slump. How can the KOSDAQ market be revitalized?Kim emphasized that restoring market trust is essential. He stated, "There are too many stocks in the KOSDAQ, leading to poor management and significant information asymmetry. Successful companies in the KOSDAQ often move to the main board, but fundamentally, nothing changes. They leave due to the market's poor reputation."He pointed out, "In Korea, the KOSDAQ is the only market where venture investors can invest in listed companies and recoup their investments. If the KOSDAQ thrives, initial public offerings (IPOs) will increase, but the presence of too many questionable companies raises doubts about the market's integrity." He added, "The market was launched 30 years ago with an index of 1,000. It is unacceptable that it fluctuates around 800 now."Regarding government policies to revitalize the KOSDAQ, he said, "We need to first separate good companies from poor ones before implementing any revitalization measures. It would be beneficial to isolate stocks that are deemed difficult to remain in the public market. We need to distinguish between the good and the bad."Some have criticized the tightened delisting criteria as overly strict. Kim acknowledged that it is possible to argue that the current policies are excessive, but he stressed, "To revive the KOSDAQ market, we must reflect on the past 30 years of its existence."* This article has been translated by AI. 2026-08-12 14:40:10
  • High Volatility is the New Normal, Says Kim Hak-kyun of Shin Young Securities
    High Volatility is the New Normal, Says Kim Hak-kyun of Shin Young Securities Last month, the domestic stock market experienced extreme volatility, with fluctuations of hundreds of points in a single day. Despite Samsung Electronics and SK Hynix reporting record earnings, their stock prices plummeted, only to rebound the next day. Although the volatility has somewhat decreased in August, predicting market direction remains challenging. Some have even likened the stock market to a gambling table.Research centers at securities firms, tasked with analyzing and forecasting the market, find themselves in a difficult position, as the weight of their reports carries significant responsibility. How do seasoned market veterans view the current situation and what predictions do they offer?In a recent interview at the Shin Young Securities headquarters in Yeouido, Seoul, Kim Hak-kyun, head of the research center, shared his insights on the stock market outlook for the second half of the year. With 30 years of experience in the market, Kim stated, "We are currently in a market unlike any we have experienced before. While similar events have occurred in financial history, the phenomena we are witnessing now are unprecedented."However, he does not consider this extreme volatility to be a market crisis. He explained that the growth expectations generated by the new artificial intelligence (AI) industry, combined with the inherent volatility of memory semiconductors, create a natural process. He diagnosed, "High volatility is the new normal," emphasizing the importance of establishing investment principles that can withstand volatility rather than trying to predict market direction. Ultimately, he stressed that patience is key.Memory Semiconductors Historically Show High Stock Price VolatilityKim predicts that high volatility is likely to continue. He noted, "Samsung Electronics and SK Hynix are the most pivotal companies venturing into the uncharted territory of AI, and historically, memory semiconductors have exhibited significant stock price fluctuations. Given that these two companies account for over 50% of the market capitalization, their volatility will inevitably define the KOSPI."Of course, volatility is not always welcomed by investors, as it can lead to impulsive buying or panic selling. However, Kim clarified that volatility should not be viewed solely in a negative light. He remarked, "Prices often deviate from the average during upward movements, which is also a form of volatility in financial markets. It is not inherently good or bad."Concerns have arisen in some market circles that the recent adjustments in semiconductor stocks may signal a downturn in the AI investment cycle. Nevertheless, Kim believes that the structural growth trend in semiconductors remains intact. He pointed out, "SK Hynix's stock price has nearly increased 18 times in the past year, and Samsung Electronics has risen sevenfold. Stocks that have appreciated so much rarely decline gradually during corrections. The current adjustments are a natural process."He also highlighted differences from past memory semiconductor cycles, noting that the expansion of long-term supply contracts (LTAs) and increased AI investments have strengthened companies' profit resilience compared to the past. Kim stated, "While there are various concerns, one notable difference is that the likelihood of profits halving, as seen in the past, is low due to the increase in long-term supply contracts. When companies make significant profits, they can also return value to shareholders, which means the semiconductor sector is more likely to rebound rather than collapse." However, he added that given the heightened expectations in the market, "the rapid surges seen in the first half may not be repeated."Diverging Target Prices Reflect a Healthy Market DynamicRecently, target prices set by securities firms for Samsung Electronics and SK Hynix have varied significantly. This divergence reflects differing perspectives on performance and valuation amid a rollercoaster market. According to FnGuide, target prices for Samsung Electronics range from a low of 300,000 won to a high of 650,000 won, a gap of 350,000 won. This has led investors to question, "Whose forecast should we trust?"However, Kim views this divergence as a sign of a healthy market. He explained, "The nature of the stock market is that for someone to buy, there must be someone willing to sell. If I believe I can sell at a higher price, why would I sell? Each participant makes decisions for their own benefit, and that interplay is what constitutes the stock market."He continued, "No one knows the future with certainty. The existence of differing forecasts and logic is what shapes the market." He emphasized that if analysts all agreed on a positive outlook, stock prices would not form. In a situation where some recommend buying while others suggest selling, investors can make informed choices, creating a beneficial ecosystem.The differing forecasts from securities firms following the earnings announcements of Samsung Electronics and SK Hynix stem from varying perspectives on the future. Kim stressed, "This is a natural situation, and it is not unusual to have differing opinions."There is No Such Thing as a Stable Investment; Endurance is KeyFor investors seeking solutions, Kim advises that they should invest with "money they can afford to endure." He believes it is far more important to establish investment principles that can withstand volatility than to try to predict market direction. He stated, "There is no such thing as investing in a stable manner. Since we cannot predict the future, it is absolutely crucial to invest with money that can withstand volatility."He also clarified the distinction between investing and speculating. He noted, "First, you must buy reasonable stocks. Evaluating the appropriate value you can expect from an asset and believing that it will converge to that value when purchased below that price is investing. However, expecting someone else to buy at a higher price than you is speculation." Ultimately, he explained that investing focuses on the intrinsic value of a company rather than short-term price fluctuations.Kim defined the essence of stocks, stating, "Stocks are not fundamentally about buying low and selling high. They are about partnering with a business." He added, "In the stock market, anything can happen, but fundamentally, those who can endure volatility are the ones who make money."He quoted investment guru Charlie Munger, saying, "The stock market is a place where money moves from the impatient to the patient," emphasizing that those who believe in and can wait for good companies will achieve better long-term results.He also stressed the mindset of investors, saying, "Ironically, we invest to become wealthy, but if we do not invest like the wealthy, it is difficult to become wealthy. Just as a baseball player cannot hit a home run if they are too tense, it is necessary to relax and approach investing with a calm demeanor."Key Events to Watch in the Second Half: Nvidia, U.S. Interest Rates, Shareholder ReturnsLooking ahead to the remaining four months, Kim identified the sustainability of AI investments and U.S. monetary policy as key variables that will influence the stock market in the second half. He stated, "There are general expectations and concerns regarding AI, and it will be important to see what guidance CEO Jensen Huang provides."He added, "The other factor is interest rates. If the U.S. Federal Reserve continues to tighten aggressively, stock prices may face corrections. However, given that inflationary pressures in the U.S. are not excessive and the economy is not overheating, the likelihood of the Fed pursuing aggressive tightening is low."Additionally, he noted, "How Samsung Electronics and SK Hynix utilize their substantial profits for shareholders will also be crucial. The realization of shareholder returns and the extent of those returns will influence stock prices."Finally, regarding the KOSPI outlook for the second half, Kim stated, "I cannot predict a target, but I can assess whether the market is undervalued or overvalued. Currently, it seems to be quite cheap." However, he cautioned that the market dynamics differ from the rapid rise led by semiconductors in the first half, suggesting that the previously proposed '10,000 points' forecast may not unfold at the same pace as before, warranting further observation.* This article has been translated by AI. 2026-08-12 14:40:00
  • Yoon Sang-hos Paradise Lost to World Premiere at Toronto International Film Festival
    Yoon Sang-ho's 'Paradise Lost' to World Premiere at Toronto International Film Festival Yoon Sang-ho's new film 'Paradise Lost' has been officially scheduled for screening at the 51st Toronto International Film Festival.The film will have its world premiere on September 13 at 5:30 PM at the Royal Alexandra Theater. Yoon Sang-ho, along with actors Kim Hyun-joo and Bae Hyun-sung, will attend the red carpet event prior to the screening.Yoon, Kim, and Bae are set to arrive in Toronto on the morning of September 12 to begin their festival activities. The trio will participate in the red carpet and premiere, meeting international audiences for the first time.'Paradise Lost' is a psychological thriller that begins with the return of Ryu Seon-woo, a boy presumed dead after a camping school bus incident nine years ago, to his mother Ryu So-young, who lost her son in the tragedy.In the film, So-young relies on an AI program called 'Children of Paradise' to cope with her daily life. One day, her son Seon-woo, thought to be dead, returns home, leading to a complex coexistence with a son who is entirely different from the child she remembers.Kim Hyun-joo plays Ryu So-young, grappling with the dual burdens of loss and anxiety over her returned son. This marks her continued collaboration with Yoon Sang-ho following her roles in the series 'Hell' and films 'Jung-yi' and 'Seonsan.' Bae Hyun-sung portrays Ryu Seon-woo, the son who returns after nine years, embodying a character shrouded in mystery.The Toronto International Film Festival is the largest film festival in North America, serving as a platform for global distributors and media to gauge audience reactions to anticipated films for the latter half of the year. 'Paradise Lost' will be unveiled to the world at this festival, allowing for audience feedback ahead of its domestic release in October.Yoon Sang-ho has been invited to the Toronto International Film Festival for the second consecutive year, following his film 'Face.''Paradise Lost' is set to be released in domestic theaters in October.* This article has been translated by AI. 2026-08-12 14:40:00
  • PPP lawmaker hosts forum with group downplaying May 18 massacre
    PPP lawmaker hosts forum with group downplaying May 18 massacre SEOUL, August 12 (AJP) - Days after police raided Starbucks Korea over a marketing campaign accused of insulting the memory of the May 18 Gwangju Democratization Movement, People Power Party lawmaker Lee Jin-sook is set to co-host a forum with a right-wing group that disputes describing the 1980 bloodshed as a massacre planned by state authorities. Lee will hold the forum, titled “Reexamining the May 18 Democratization Movement,” with the New History National Movement at the National Assembly Library on Thursday. The event will examine the origins and course of the uprising, the historical meaning of the so-called “Gwangju spirit” and its influence on South Korean politics since democratization in 1987. The group, whose first stated principle is “Liberate Gwangju,” refers to the May 18 Democratization Movement as the “Gwangju Incident.” It argues that the casualties during the uprising resulted from a combination of circumstances and that it is inappropriate to characterize them as a massacre deliberately planned by state violence. Speakers include New History National Movement co-leader Lee Young-hoon, PenNMic senior journalist Kim Yong-sam and former PPP Gwangju official Joo Dong-sik. Joo is scheduled to speak under the title “May 18 as the main culprit behind the contamination and degeneration of the 1987 system.” Lawmakers from the ruling Democratic Party of Korea whose constituencies are in Gwangju criticized Rep. Lee Jin-sook. “Lee appears to be trying to strengthen her political standing by relying on far-right forces,” said Rep. Cho In-chul, criticizing Lee. “Her intentions are highly impure.” “During the 2024 confirmation hearing for the chair of the Korea Communications Commission, I asked Lee, who was then the nominee for the position, whether she thought it was correct to define it as the ‘May 18 Democratic Uprising,’ but she could not answer,” Cho said. The forum is “a clear distortion of history disguised as an academic event and a clear challenge to the democratic history of the Republic of Korea,” said Rep. Jung Joon-ho. The forum amounts to “secondary victimization,” Jung said. “It is infuriating that they are trying to turn the National Assembly, the hall of the people’s will, into a ‘free-for-all of historical distortion.’” Voices of criticism also emerged from within the People Power Party. “It is truly concerning that Lee is disparaging the May 18 Democratic Uprising and distorting history,” said former lawmaker Yoo Seong-min, who served four terms as a People Power Party lawmaker. “A political group that claims the Holocaust was not a massacre would have no place in Germany, the United States, Canada or any other country,” Yoo said. “The People Power Party, the main opposition party, should not allow one of its lawmakers to refer to the ‘Gwangju incident.’” “Politicians would be better off refraining from actions that unnecessarily cause conflict among the public,” said Rep. Woo Jae-jun, a member of the party’s Supreme Council. As of 1 p.m. Wednesday, 17 related news reports could be found online. According to the Korea Press Foundation, South Korea had more than 8,000 newspaper outlets as of Dec. 31, 2024. AJP contacted Rep. Lee Jin-sook and her aide for comment but did not receive a response. 2026-08-12 14:38:32
  • Worker Dies After Being Stung by Bees at Demolition Site in Goyang
    Worker Dies After Being Stung by Bees at Demolition Site in Goyang A worker died after being stung by bees at a demolition site in Goyang, South Korea, operated by IPARK Hyundai Industrial Development.On August 11, the Financial Supervisory Service's electronic disclosure system reported that a worker had died at the Nungok District 5 housing redevelopment project site.The incident occurred on July 24 during demolition work. The worker was installing dust and debris nets on scaffolding when he was stung by bees inside a scaffolding pipe. He subsequently lost consciousness due to breathing difficulties and had been receiving treatment until he passed away on August 8.The company stated it plans to establish measures to prevent a recurrence of such incidents. 2026-08-12 14:36:10
  • Lee accepts credentials of US Ambassador Steel and others
    Lee accepts credentials of US Ambassador Steel and others SEOUL, August 12 (AJP) - President Lee Jae Myung welcomed U.S. Ambassador to South Korea Michelle Steel on Wednesday in their first meeting since the Korean American and former congresswoman took up her post in Seoul. Lee greeted Steel at Cheong Wa Dae during a ceremony in which he received credentials from newly appointed ambassadors of four countries. After accepting Steel's credentials, Lee said, "Welcome," before posing with her for a commemorative photo. He then offered the same greeting to her husband, attorney Shawn Steel, who accompanied her to the ceremony, and posed for another photo. A credentials presentation ceremony is a formal diplomatic event in which a newly appointed ambassador presents a letter of credence issued by the head of state of the ambassador's home country to the head of state of the host country. Lee also received credentials from Portuguese Ambassador Vanda Maria Dias Stelzer Sequeira, United Arab Emirates Ambassador Jamal Abdullah Al Suwaidi and Irish Ambassador Sean Hoy. Steel, born in Seoul in 1955, spent part of her youth in Japan before moving to the United States with her family in 1975. She later built a political career in California, serving on the California State Board of Equalization from 2007 to 2015 and the Orange County Board of Supervisors from 2015 to 2021. A Republican, Steel served two terms in the U.S. House of Representatives from 2021 to 2025, representing California's 48th and later 45th congressional districts. She was among the first Korean American women elected to Congress. President Donald Trump nominated her as ambassador to South Korea in April, and the Senate confirmed her on June 17. Steel is the second Korean American to serve as U.S. ambassador to South Korea, after Sung Kim, and the first Korean American woman to hold the post. Steel arrived in South Korea on July 30 and has since begun a series of diplomatic and public engagements. Before Wednesday's meeting with Lee, she met National Security Adviser Wi Sung-lac on Aug. 4 to discuss key issues concerning the South Korea-U.S. alliance. AJP Takeaways: President Lee Jae Myung met U.S. Ambassador Michelle Steel at Cheong Wa Dae on Wednesday, their first meeting since she began her post in Seoul. Michelle Steel is the first Korean American woman to serve as U.S. ambassador to South Korea and the second Korean American to hold the position, after Sung Kim. Steel, a former Republican U.S. congresswoman from California, arrived in South Korea on July 30 and has begun diplomatic engagements focused on the South Korea-U.S. alliance. 2026-08-12 14:35:17
  • Hantap Hits Upper Limit for Second Day Following Major Share Purchase Announcement
    Hantap Hits Upper Limit for Second Day Following Major Share Purchase Announcement Hantap has recorded its upper limit for the second consecutive trading day, buoyed by news of a large share purchase by its largest shareholder.According to the Korea Exchange, as of 2:14 PM on August 12, Hantap's stock was trading at 2,795 won, up 645 won (30.00%) from the previous day. The stock had already reached the price limit (29.99%) the day before, continuing its strong performance.The surge in stock price is attributed to the decision by the largest shareholder to purchase 2 million common shares in the market to enhance shareholder and corporate value, which has stimulated investor sentiment. The company announced the plan in a disclosure the day before, stating that it intends to acquire approximately 3.3 billion won worth of common shares over about 30 days, from September 11 (settlement date) to October 10.The purchase price was based on the closing price of 1,654 won on August 10, the day before the announcement, and the actual acquisition volume and purchase price may vary depending on future stock price fluctuations.Market analysts interpret the largest shareholder's market purchase as a signal to support the stock price. Hantap disclosed on August 5 that it had been under the market capitalization threshold of 20 billion won for 25 consecutive trading days. If it fails to meet the market capitalization criteria by that day, it may be designated as a management stock on the next trading day.* This article has been translated by AI. 2026-08-12 14:28:00
  • Korean Cosmetics Company Kolmar Reports Record Q2 Earnings, Shares Surge 25%
    Korean Cosmetics Company Kolmar Reports Record Q2 Earnings, Shares Surge 25% Korean cosmetics company Kolmar has seen its shares surge over 25% following the announcement of record earnings for the second quarter of this year.As of 1:58 PM on August 12, Kolmar's stock was trading at 135,300 won, up 27,400 won (25.39%) from the previous trading day, according to the Korea Exchange.The company's second-quarter results exceeded market expectations, leading to improved investor sentiment.Kolmar reported consolidated revenues of 861.3 billion won and an operating profit of 110.3 billion won for the second quarter. This represents a 17.8% increase in revenue and a 50.2% rise in operating profit compared to the same period last year, marking the highest figures on a quarterly basis.Notably, the operating profit surpassed the market forecast of 94.9 billion won compiled by financial information provider FnGuide by approximately 16%. The net profit for the same period also rose to 70.6 billion won, a 68.9% increase.The company continued its growth trend in the first half of the year, with cumulative revenues reaching 1.5893 trillion won, up 14.8% year-on-year, and operating profit increasing by 41.8% to 189.2 billion won. The net profit for the first half was 130.6 billion won, reflecting a 100.9% increase.Kolmar attributed its success to the expansion of indie brands into global markets and the seasonal demand for skincare and sun care products, stating, "Orders increased, particularly for skincare and sun care products, due to the peak season and the continued launch of new products by global clients, resulting in record quarterly earnings."* This article has been translated by AI. 2026-08-12 14:24:10
  • Chun Ha-ram Enters Army Training Center After Haircut
    Chun Ha-ram Enters Army Training Center After Haircut Chun Ha-ram, the floor leader of the Reform Party, entered the Army Training Center in Nonsan on August 12. Assigned to the National Assembly's Defense Committee, he made this decision to directly experience the training and living conditions of military personnel.On the morning of August 12, the 40-year-old Chun had his hair cut short at a salon in the National Assembly in preparation for his training. This marks his second time entering a training center, having previously done so 14 years ago before serving as a public interest lawyer.Chun will undergo basic training for three days and two nights, starting on August 12, after which he will receive combat uniforms, gear, and supplies as part of the new recruit process.On the second day, he will participate in training exercises simulating wartime conditions, including comprehensive individual combat drills. From 9 p.m. until the early hours of the following day, he will take part in a 20-kilometer night march. On the final day, August 14, he is scheduled to complete a certification ceremony for new soldiers and conclude his training.Chun stated that he felt the need to experience military operations firsthand after being assigned to the Defense Committee. He expressed this sentiment during an appearance on CBS's 'Park Jae-hong's One-on-One Show' on August 10, saying, "Rather than discussing defense policy based solely on my previous experiences, I believe it is essential to update my experiences to develop more realistic policies."He also noted, "As one of the relatively younger members of the National Assembly, I sometimes fall into the illusion that my experiences are up to date. While I have concerns, I am determined to do my best."Chun's office communicated through a press release that since his assignment to the Defense Committee, he has been preparing for committee activities under the principle that "policies arise from the field, not from the desk." He aims to experience the conditions and treatment of military personnel who diligently carry out their duties for the country, even in extreme heat, and to reflect this in future Defense Committee activities and policy inquiries.* This article has been translated by AI. 2026-08-12 14:24:00