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  • Korean Semiconductor Workers Trapped in 52-Hour Trap Amid Free Labor
    Korean Semiconductor Workers Trapped in '52-Hour Trap' Amid Free Labor A researcher with 12 years of experience in the advanced process development department of a domestic semiconductor company reported working nearly 50 hours of unpaid overtime in June. With the deadline for next-generation memory supply to clients just weeks away, the researcher, referred to as A, had already exhausted the 150-hour limit for overtime allowed over three months in just two months.A's department, focused on yield improvement and process technology, is at the forefront of semiconductor research and development (R&D), analyzing hundreds of steps from wafer input to completion to identify defects and improve yield. During critical development periods leading up to product launches, researchers monitor yield analysis equipment continuously for 36 hours or more, tracking wafer defects. This is why teams often work day and night shifts to keep the labs operational.A expressed frustration, stating, "The company enforces a mandatory PC shutdown to comply with the 52-hour work week and even requires documentation for overtime. When a multi-million won test wafer is running in the equipment and data is pouring in, leaving on time without completing the work results in losses that the team must bear."The strict enforcement of the 52-hour work week is disrupting research continuity in major semiconductor facilities, leading to a normalization of unpaid overtime. Despite the government's implementation of flexible work systems, such as selective and flexible working hours, there are clear limitations in meeting the rapid pace of next-generation semiconductor development.According to anonymous posts on workplace communities, semiconductor researchers are lamenting their need to work unpaid overtime to improve memory quality. One commenter noted, "Today, I just tagged out and am on my way to the convenience store for some fresh air. I hope the measurement results turn out well after working like this."In 2021, the government amended the Labor Standards Act to extend the accounting period for selective working hours from one month to three months for R&D positions in fields like semiconductors and software development. This change aimed to provide more flexibility during critical project periods.However, industry insiders argue that the system remains ineffective. While it allows for concentrated overtime in specific weeks, the average weekly working hours within the three-month period still cannot exceed 52 hours.Despite complaints from the field, the government maintains that the current labor system is sufficient to address overtime needs. Recently, Minister of Employment and Labor Kim Young-hoon stated, "Even with the special overtime system in place, companies do not even apply for it," emphasizing that the situation can be managed without exceptions to the 52-hour rule.Under the current Labor Standards Act, the special overtime system is limited to emergencies, disasters, or unexpected equipment failures, making it difficult to obtain approval for R&D work, which requires continuity.A semiconductor industry representative noted, "To apply for special overtime, individual worker consent is required, and companies must strictly prove a surge in workload. If an application is rejected, the company risks being targeted for intensive inspections or labeled as an illegal employer, which discourages them from applying. The low application rate is not due to the adequacy of the current system but rather the stringent approval requirements."In contrast, semiconductor competitors like the U.S. and Taiwan recognize exceptions to work hour regulations for R&D personnel, allowing them to work around the clock. Micron has eliminated overtime limits for its research staff using a 'white-collar exemption,' while TSMC operates a 24/7 R&D system with three shifts.An Ki-hyun, executive director of the Korea Semiconductor Industry Association, emphasized, "The global semiconductor competition is a harsh race where a few months can determine success or failure in technology development. Only Korea is tying the hands of its researchers with uniform work hour regulations, making it urgent to introduce flexible work systems for key R&D positions."* This article has been translated by AI. 2026-08-11 18:04:10
  • Semiconductor Special Law Takes Effect, Supporting Development to Mass Production
    Semiconductor Special Law Takes Effect, Supporting Development to Mass Production The Semiconductor Special Law's enforcement decree took effect on August 11, expanding support for domestic semiconductor materials, parts, and equipment (known as 소부장) from research and development (R&D) to mass production verification. Following the government's announcement of a 10-year, 1 trillion won "Together Growth Project" the previous day, Samsung Electronics and SK Hynix are establishing infrastructure to test products developed by their partners in environments close to actual production processes. This initiative aims to reduce the commercialization bottleneck faced by domestic 소부장 companies, which have struggled to transition from technology development to customer validation.The enforcement decree of the Semiconductor Special Law, which began today, clarifies the basis for the Semiconductor Industry Competitiveness Enhancement Special Committee, chaired by the President, and the operation of special accounts. It establishes a framework for supporting clusters, R&D, and workforce training under a long-term plan rather than through individual departmental projects.For 소부장 companies, securing "mass production data" is considered a higher hurdle than funding. New equipment or materials cannot be delivered based solely on performance verification; they must undergo long-term validation for yield rates, operational efficiency, and compatibility with existing equipment in customer processes. The government is allocating 20 billion won for reliability assessments and 25 billion won for mass production performance evaluations this year to connect developed products with actual production lines.Support to lower the verification barriers for 소부장 companies has also been specified. The government will assist in operating testbeds and reducing facility rental costs to enable small and medium-sized 소부장 companies, which may struggle to establish their own clean rooms or expensive analytical equipment, to verify product performance and mass production feasibility.The "Together Growth Project" announced the previous day aligns with this direction. The government plans to invest 1 trillion won over the next decade in projects where large and small companies collaborate from technology development to verification and mass production. It will provide 5 trillion won in cooperative trade financing for exporting 소부장 companies and establish a new fund of approximately 5 trillion won for promising 소부장 and fabless companies. Unlike previous financial support, this initiative aims to link verification and purchasing stages.Samsung Electronics and SK Hynix are also expanding their mass production verification spaces. Samsung is pursuing the establishment of a mass production-linked testbed to validate partner products and facilitate actual deliveries. SK Hynix is constructing a "Trinity fab" in the Yongin semiconductor cluster, with an investment of about 860 billion won. The plan includes initially placing 40 pieces of equipment in a clean room of approximately 1,000 pyeong, allowing partners to validate products in an environment similar to mass production lines, with operations targeted to begin in May 2027.Verification history can also be leveraged for overseas expansion, as global semiconductor companies require mass production data during the adoption of new equipment. This verification infrastructure could enhance the export competitiveness of domestic equipment manufacturers, who need to reduce reliance on the Chinese market and expand their customer base in the U.S. and Europe.Lee Hyun-cheol, SK Hynix's head of purchasing strategy, stated regarding the Trinity fab, "We aim to support 소부장 companies in shortening the verification period for mass production by establishing verification infrastructure similar to that of mass production fabs."* This article has been translated by AI. 2026-08-11 18:04:00
  • High-End Gaming Monitors Sell Out as OLED Demand Surges from Samsung and LG
    High-End Gaming Monitors Sell Out as OLED Demand Surges from Samsung and LG Premium gaming monitors priced over 2 million won are selling out rapidly, reflecting a vibrant market driven by increasing demand for performance over price, particularly in refresh rates, response times, and image quality that can determine game outcomes.In this competitive landscape, Samsung and LG are vying for market leadership by emphasizing high-performance features such as 6K ultra-high resolution and OLED technology.According to the electronics industry on August 11, LG Electronics' 39-inch 'LG UltraGear Evo AI OLED Gaming Monitor,' launched in May, sold out within 16 minutes of its initial release. The additional stock that arrived at the end of last month was also confirmed to be sold out in about two weeks. Despite its high price of around 2 million won, demand surged, prompting LG to initiate further production, with plans to supply additional units starting in September.LG is enhancing the performance of its gaming monitors. Earlier this year, the company introduced its premium 'UltraGear Evo' lineup featuring AI technology, which includes on-device AI capabilities such as '5K AI Upscaling' to enjoy all content at 5K clarity. According to market research firm IDC, LG's gaming monitor brand 'UltraGear' achieved a 29.3% market share in South Korea in the first quarter of this year, ranking first.Samsung Electronics is also strengthening its gaming monitor lineup by promoting ultra-high resolution. The company unveiled four new models of the 2026 Odyssey gaming monitors, including the industry's first 32-inch 'Odyssey G8' that supports 6K ultra-high resolution. The OLED product range has also expanded, with the 27 and 32-inch 'Odyssey OLED G8' supporting 4K resolution and a maximum refresh rate of 240Hz. The 32-inch OLED G7 features a dual mode that allows switching between 4K at 165Hz and FHD at 330Hz. Samsung will showcase the Odyssey G8 and other models at Gamescom 2026, the world's largest gaming exhibition, in Cologne, Germany, targeting global gamers.The push by Samsung and LG for high-performance gaming monitors is driven by a rapid shift in premium demand towards OLED in the monitor market. Consumers who do not prioritize performance tend to choose low-cost LCDs, while those seeking high-performance products are increasingly skipping mid-range LCDs in favor of OLEDs, highlighting a clear market polarization.According to market research firm Omdia, the share of LCD monitors priced between $600 and $800 plummeted from 16% in 2022 to just 2% last year. Similarly, the share of LCD products priced over $800 dropped from 16% to 4% during the same period. In contrast, the share of OLED monitors priced over $800 surged from 1% to 20%. Gaming monitors are emerging as a new demand source for OLED, surpassing stagnant TV and smartphone markets.The competition among finished product manufacturers is also extending to the panel market. Samsung Display and LG Display, which dominate the OLED market for monitors, are engaged in a technological competition for gaming panels, focusing on ultra-high refresh rates and resolutions. According to Omdia, Samsung Display held a 70.7% market share in the monitor OLED market by revenue in the second quarter of this year, while LG Display accounted for 29.3%.Samsung Display is expanding its quantum dot (QD)-OLED gaming monitor lineup. Recently, it introduced a 31.5-inch quantum dot-OLED monitor that simultaneously achieves 4K UHD resolution and a 360Hz refresh rate, with a maximum of 680Hz in FHD. Earlier this year, it began mass production of a 34-inch 360Hz quantum dot-OLED featuring a 'V-Stripe' pixel structure, supplying it to global monitor manufacturers.LG Display is also competing with its high-performance gaming OLED panels. Its 27-inch DFR (variable refresh rate and resolution) OLED panel offers an industry-leading 720Hz refresh rate in high refresh rate mode and can achieve QHD resolution with a 540Hz refresh rate in high-resolution mode. A representative from LG Display stated during a conference call for the second quarter earnings report, "We plan to strengthen our high-value product lineup, including gaming OLED monitors, and expand shipments in line with the accelerating shift from LCD to OLED in the monitor market."* This article has been translated by AI. 2026-08-11 18:04:00
  • Embracing Discomfort: Real Opportunities in the Brazilian Market
    Embracing Discomfort: Real Opportunities in the Brazilian Market “I always had to be the last one.” This is a reflection from the protagonist, Zeze, in the Brazilian novel ‘My Sweet Orange Tree.’ While the context differs, the feeling of waiting to be last is not unfamiliar in Brazil. Traffic jams are common, and long lines at hospitals and banks are the norm. However, just because people are accustomed to waiting doesn’t mean they want to. The moment alternatives arise, consumers choose cost over waiting.Traditionally, our companies have viewed Brazil through three main lenses: industrial goods, consumer goods, and public demand. These approaches remain valid today. However, focusing solely on these three pillars in a market of 200 million can lead to missing significant nuances. The universal domestic market reveals what is inconvenient in everyday life and what shifts when something disappears.It is at this intersection that innovation becomes a demand. The innovation discussed here is not merely about speed. It involves alleviating surrounding inconveniences such as costs, administration, and payment, and redesigning the user experience itself. While speed may open doors, it is the subsequent process innovations that expand the market. This transformation is already evident throughout daily life in Brazil.Transportation exemplifies an innovation that expands touchpoints. Sem Parar began with automatic toll payments, but consumer response was not just about the convenience of automatic payments. It eliminated the time spent stopping, searching for payment methods, and collecting receipts, even if it meant paying a monthly fee. This experience has broadened to include payment touchpoints for parking, refueling, car washes, and drive-thrus. The public parking payment app Zul+ has also consolidated various procedures, such as related taxes, fines, and insurance, which drivers previously had to check separately, into a single interface. This goes beyond simplifying payments; it reduces the hassle of moving, parking, and managing a vehicle.Healthcare represents an innovation in operational structure. The shared consultation model has transformed the administrative aspects surrounding medical care. Mobile platforms handle appointments, while kiosks manage on-site registration, payments, and document issuance. When the time comes, the doctor meets the patient directly. This structure allows consultations to proceed without dedicated administrative staff. The burdens of space, scheduling, registration, payment, and document issuance that a solo practitioner would typically bear have shifted to the platform. As a result, doctors are no longer confined to a physical location and can provide care across various regions, while patients can see a doctor more quickly and closer to home. This innovation goes beyond merely simplifying appointments; it changes how medical personnel and facilities are utilized.The private sector is not the only one making strides. Pix is a government initiative that has reduced transaction costs for payments, broadening market options. The Brazilian Central Bank's payment system, Pix, has cut down on transfer and payment delays to mere seconds, but its success is not solely about speed. It has brought transactions into the mobile realm for consumers who struggle with account openings or credit card approvals, small businesses burdened by fees and equipment, and transactions previously tied to business hours and payment confirmations. Payments for street snacks, domestic help wages, and business transactions are now moving in real-time within this payment network. Pix has already garnered over 170 million users and has emerged as a leading payment method for online purchases, surpassing credit cards. The government-built payment infrastructure has transformed both consumption and sales methods.What these developments indicate is clear: opportunities in Brazil's domestic market extend beyond the products themselves. They also encompass the reduced burdens of time, cost, and procedures during the user experience, which adds value. The 200 million domestic consumers cannot be fully understood through the existing three pillars alone. While industrial goods, consumer goods, and public demand remain relevant, narrowing the target is essential to see the market clearly. To fully leverage the value of this vast domestic market, one must also recognize the common demands that lie beyond these boundaries. Such demands manifest repeatedly across various touchpoints in consumers' daily lives. The fourth pillar, which alleviates discomfort and enables better choices, is crucial. Industries and products may segment the market, but experiences that reduce inconvenience unite dispersed consumers. At this juncture, the 200 million domestic consumers finally become a cohesive market./Kwon Jun-seop, Director of KOTRA São Paulo Trade Office 2026-08-11 18:04:00
  • Hanssem and Hyundai Livart Sustain Performance Amid Construction Market Slowdown
    Hanssem and Hyundai Livart Sustain Performance Amid Construction Market Slowdown As the construction market continues to slow and uncertainty looms over the housing sales sector, South Korea's leading home furnishing companies, Hanssem and Hyundai Livart, reported similar trends in their second-quarter results. The stagnation in revenue appears to have been offset by cost reductions and restructuring efforts.According to the furniture industry on August 11, both companies experienced a decline in sales but a significant increase in operating profit. Hanssem reported consolidated sales of 417.2 billion won and an operating profit of 11.3 billion won for the second quarter. While sales decreased by 9.2% compared to the same period last year (459.4 billion won), operating profit surged over 400% from 2.3 billion won, marking 13 consecutive quarters of profitability. However, net profit fell to 4.8 billion won, an 85.2% decrease from the previous year.Hyundai Livart, which announced its results on August 4, showed a similar pattern. The company reported consolidated sales of 373.1 billion won for the second quarter, down 9.0% from 409.9 billion won a year earlier, but operating profit rose by 9.4% to 5.6 billion won from 5.1 billion won. Net profit saw a dramatic increase of 507.4%, reaching 3.7 billion won.The improvement in Hanssem's performance was largely driven by its rehouse segment, which saw a 13% increase in sales year-on-year. This growth was attributed to rising demand for apartment transactions and renovations, particularly in key product categories such as kitchens, bathrooms, and storage solutions. In the home furnishing sector, sales of the storage furniture line 'Signature' increased by 12%, while the Swive sofa series, including 'Swive the Master,' saw a 46% rise in sales.Notably, the growth of premium lines was significant. Combined sales of the premium kitchen brands 'Kitchen Bach' and 'Euro Kitchen' increased by 40% compared to the same period last year, and sales of the bathroom solution 'Easy Bath 5,' launched in February, surged by 80% in June compared to its first month of release.Additionally, the company undertook restructuring efforts by closing inefficient stores and reorganizing distribution channels.A Hanssem representative stated, "While external risks will persist in the second half of the year, we will consistently strengthen the competitiveness of our core products, enhance customer experiences through distribution channels, and elevate brand value through focused marketing to solidify our position as an industry leader."Hyundai Livart's profit improvement was primarily driven by cost reductions and operational efficiencies. The company noted that the ongoing construction market slowdown has led to a decrease in the supply of built-in furniture, impacting sales. However, through efficient management, operating profit was slightly increased compared to the previous year.There were notable differences across business segments. The B2B sector continued to grow, while the decline in built-in furniture supply affected overall sales. Its affiliate, Zinus, faced challenges in the mattress business, but production rates at overseas facilities in Indonesia, China, and Cambodia improved.Hyundai Livart plans to accelerate its restructuring and business diversification efforts. The company aims to continue focusing on profitability through efficient management while actively pursuing new housing maintenance projects and B2B contracts to lay the groundwork for a sales rebound.A Hyundai Livart representative commented, "We plan to actively pursue new housing maintenance projects and B2B contracts to continuously expand our sales."* This article has been translated by AI. 2026-08-11 18:00:00
  • Korea, Tajikistan industry officials meet ahead of C5 summit
    Korea, Tajikistan industry officials meet ahead of C5 summit SEOUL, August 11 (AJP) - Ahead of the first Korea-Central Asia Summit in September, South Korea and Tajikistan on Tuesday discussed expanding economic cooperation in critical minerals, supply chains and new technologies. South Korean Vice Minister of Trade, Industry and Resources Moon Shin-hak met Isojon Qurbonzoda, Tajikistan's first deputy minister of industry and new technologies, in Seoul to discuss projects that could produce tangible economic outcomes at the upcoming summit. The two sides discussed creating a regular C5+Korea Industry Ministers' Meeting, bringing together South Korea and the five Central Asian countries — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. They also discussed a memorandum of understanding on bilateral cooperation in industry and new technologies and ways to expand exchanges among companies through a Korea-Central Asia Business Summit. The first Korea-Central Asia Summit is scheduled to be held in South Korea on Sept. 16-17, according to the Foreign Ministry. Seoul has been preparing for the inaugural gathering through a series of senior officials' meetings and established a 17-member private advisory committee covering seven fields. The summit is expected to serve as a platform for South Korea to deepen ties with the five Central Asian states, an increasingly important region for energy, critical minerals, infrastructure and supply-chain cooperation. Critical minerals were a major focus of Tuesday's meeting. Tajikistan has deposits of gold, silver and antimony, while South Korea is seeking to diversify supplies of minerals needed for its advanced manufacturing industries. The two countries will hold their first Korea-Tajikistan Minerals Forum in Seoul on Wednesday, bringing together government officials, institutions and companies to discuss mineral policies, joint exploration, investment, financing and supply-chain development. Moon said the forum could connect Tajikistan's resource potential with South Korea's mineral exploration and development technologies and its demand for raw materials. The government hopes the talks will lead to specific projects that can be presented when leaders meet in September. Economic ties between the two countries remain relatively small but have expanded sharply in recent years. Bilateral trade reached US$354 million in 2025, according to Korea International Trade Association data cited by the Foreign Ministry. "With their abundant resources and growth potential, Tajikistan and other Central Asian countries are important partners for Korea," Moon said, adding that Seoul would work to turn the discussions into concrete cooperation in industry, supply chains and critical minerals at the September summit. AJP Takeaways: - South Korea and Tajikistan are expanding cooperation in critical minerals, supply chains and advanced technologies ahead of the first Korea-Central Asia Summit in Seoul on Sept. 16-17. - Critical minerals will be a key focus, with the first Korea-Tajikistan Minerals Forum set for Wednesday to explore joint projects in mineral exploration, investment, financing and supply-chain development. - Seoul is seeking concrete economic outcomes from the September summit, including a possible C5+Korea Industry Ministers' Meeting and stronger business ties with resource-rich Central Asian countries. 2026-08-11 17:57:31
  • KOSPI closes higher as record August exports lift chip stocks
    KOSPI closes higher as record August exports lift chip stocks SEOUL, August 11 (AJP) - South Korean stocks closed higher on Tuesday, buoyed by record exports in early August that lifted semiconductor shares, although lingering uncertainty over the Strait of Hormuz limited gains. The benchmark KOSPI rose 0.73 percent to 6,345.53, extending gains for a second straight session. The index opened 0.95 percent lower at 6,240.06 before reversing course, though gains remained limited through much of the session. The turnaround came after stronger export figures released shortly after the opening provided fresh momentum for chip stocks. The country's exports rose 45.3 percent from a year earlier to US$21.3 billion in the first 10 days of August, the highest level ever recorded for the period, according to preliminary customs data. Semiconductor exports were a major driver, surging 155 percent to $10 billion. Chips also accounted for a much larger share of total exports, with their share rising about 20 percentage points from a year earlier. The figures helped semiconductor heavyweights rebound from early weakness. Samsung Electronics climbed 4.13 percent to 239,500 won, while SK hynix edged up 0.35 percent to 1,425,000 won after falling around 3 percent earlier in the session. The market's upside was limited, however, by continued uncertainty over the Strait of Hormuz. Reports overnight said Iran had rejected direct negotiations with the United States unless Washington ended sanctions and military threats and agreed to compensate Iran for war damage, leaving investors uncertain over prospects for reopening the key shipping route. Trading flows were modest across investor groups. Foreign and institutional investors bought a net 44.3 billion won ($31 million) and 30.5 billion won worth of KOSPI shares, respectively, while individuals sold a net 70.7 billion won. Foreign investors showed stronger buying in the futures market. They purchased a net 476.5 billion won in KOSPI200 futures, while institutions bought 123.3 billion won. Individuals sold a net 545.8 billion won. Overall trading activity, meanwhile, increased from the previous session, with KOSPI turnover reaching 21.94 trillion won, about 2 trillion won higher than the prior day. Market volatility also continued to ease. The KOSPI200 Volatility Index, or VKOSPI, fell 11 percent to around 61, its lowest level since early May. The decline followed a 7.99 percent drop Monday, when the index fell below 70 for the first time since late May. Among other large-cap stocks, SK Square slipped 0.42 percent to 945,000 won, Samsung Electro-Mechanics lost 0.94 percent to 1,262,000 won, LG Energy Solution dropped 3.54 percent to 354,500 won and Hyundai Motor declined 1.23 percent to 403,000 won. Samsung Biologics, meanwhile, rose 2.55 percent to 1,609,000 won, while Samsung Life Insurance gained 3.21 percent to 289,500 won and Samsung C&T advanced 2.53 percent to 344,500 won. By sector, pharmaceuticals gained 3.02 percent, IT services rose 2.73 percent and insurance stocks added 2.47 percent. Transportation equipment and parts fell 3.37 percent, while metals lost 2.67 percent and food and tobacco declined 2.41 percent. The junior KOSDAQ followed a similarly volatile path. The index closed 0.39 percent higher at 857.84 after swinging sharply between losses and gains. It opened 0.69 percent lower at 848.59 and fell as much as 1.64 percent before surging as much as 2.42 percent. The index later gave up most of those gains before edging back into positive territory near the close. Retail investors were the sole net buyers on the KOSDAQ, purchasing 435.1 billion won worth of shares. Foreign and institutional investors sold a net 360 billion won and 96.6 billion won, respectively. Some of the KOSDAQ's largest stocks came under selling pressure. Alteogen, a biotechnology company and the KOSDAQ's largest stock by market capitalization, fell 5.89 percent to 327,500 won after a sharp gain in the previous session. Battery materials holding company EcoPro dropped 3.42 percent to 90,300 won, while its cathode materials unit EcoPro BM lost 4.36 percent to 109,800 won. Semiconductor equipment and materials stocks bucked the weakness. Jusung Engineering surged 12 percent, Wonik IPS gained 6 percent and Jeju Semiconductor climbed more than 3 percent. By sector, machinery and equipment gained 2.38 percent, distribution rose 2.12 percent and transportation and warehousing added 1.77 percent. General services fell 2.31 percent, while financials lost 1.45 percent and paper and wood declined 1.06 percent. Trading turnover reached 6.77 trillion won on the KOSDAQ. Trading on alternative exchange Nextrade's pre-market and main-market sessions totaled 12.57 trillion won. The Korean won strengthened to 1,417.50 per dollar from 1,418.40 at the previous close. Regional markets showed a mixed picture, with Japan's stock market closed for the Mountain Day holiday in observance of Mountain Day, a national public holiday celebrated annually on Aug. 11 since 2016 to give people an opportunity to connect with nature and appreciate the blessings of mountains. China's Shanghai Composite fell 0.82 percent to 3,934.09, while Hong Kong's Hang Seng Index was down 1.10 percent at 25,652.82 in late trading. AJP Takeaways: - South Korea's KOSPI rose 0.73 percent to 6,345.53 on August 11, 2026, reversing early losses and extending its winning streak to a second session. - South Korean exports surged 45.3 percent year on year to $21.3 billion during August 1-10, 2026, the highest level ever recorded for the period, while semiconductor exports jumped 155 percent to $10 billion. - Samsung Electronics gained 4.13 percent to 239,500 won and SK hynix rose 0.35 percent to 1,425,000 won, helping drive the KOSPI's intraday reversal. - The KOSPI200 Volatility Index (VKOSPI) fell 11 percent to around 61 on Aug. 11, 2026, its lowest level since early May, signaling an easing in recent market volatility. 2026-08-11 17:53:04
  • Conflict Over Jang Dong-hyuks Leadership Sparks Calls for Party Vote
    Conflict Over Jang Dong-hyuk's Leadership Sparks Calls for Party Vote Conflicts over the leadership of Jang Dong-hyuk, head of the People Power Party, have escalated from the National Assembly to the party's grassroots. Responsible party members demanding Jang's resignation argue that a party-wide vote is necessary for re-endorsement, while the Responsible Party Members Council warns against using the names of responsible members as political weapons.Park In-kyu, who is leading the signature campaign for Jang's resignation, held a press conference in front of the National Assembly on August 11, stating, "The calls for Jang's resignation have not ceased, but no one within the party has stepped up responsibly."At the conference, he revealed a petition signed by approximately 27,000 party members and citizens urging Jang's resignation, criticizing that he had delivered this petition to 33 senior lawmakers but received official responses from none.He added, "The reality of the People Power Party is that it is safer to remain silent out of fear of backlash from the hardline supporters, labeling legitimate criticism as 'internal strife.'" He pointed out that the party is suppressing dissenting voices while holding disciplinary measures and the potential for changing local party leaders.Park further argued that a party-wide vote should be conducted to allow members to directly decide on Jang's resignation and the party's direction. If Jang refuses to accept this, he plans to gather support from 20% of responsible members to invoke the party's recall system.In response, the People Power Party's Responsible Members Council stated, "Do not misrepresent 20,000 signatures as the will of 1 million responsible members," and criticized the movement for attempting to turn the party into a battleground for factions.Spokesperson Yoo Young-dae issued a statement emphasizing that while they do not oppose criticism or calls for resignation of the party leader, they firmly oppose using the names of party members to advance specific political agendas.Yoo highlighted that responsible members should not be political pawns for specific factions and urged that if a party-wide vote is necessary, it should follow the proper procedures outlined in the party's constitution and regulations. He cautioned that pouring all political energy into ousting the party leader would not lead to reform but merely a power struggle. He stated, "While it is free to support or oppose the party leader, the party's constitution and democratic procedures must be upheld."The party leadership has maintained a strategy of ignoring the signature campaign. Jang responded briefly on August 5, questioning whether the opinions of just over 20,000 party members could represent the will of more than 1 million members, and has not issued an official statement since. Chief Spokesperson Park Chung-kwon also told reporters that Jang has not been briefed on the matter recently and feels there is no need to respond.* This article has been translated by AI. 2026-08-11 17:52:00
  • 100 days to go for 2027 CSAT
    100 days to go for 2027 CSAT A student sets a timer while solving problems at Etoos 247 Academy's Daechi branch in Gangnam-gu, Seoul, 100 days before the 2027 College Scholastic Ability Test (CSAT), August 11, 2026. 2026-08-11 17:48:41
  • 100 days to go for 2027 CSAT
    100 days to go for 2027 CSAT A student receives counseling at Etoos 247 Academy's Daechi branch in Gangnam-gu, Seoul, 100 days before the 2027 College Scholastic Ability Test (CSAT), August 11, 2026. 2026-08-11 17:46:34