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  • Koreas won, bonds buck global trend after stocks dominate H1
    Korea's won, bonds buck global trend after stocks dominate H1 SEOUL, August 11 (AJP) - The KOSPI and chip stocks sucked up capital and attention in the first half, but as the second half gets under way, it is the Korean won and bonds that are bucking the global trend and gaining ground. Whether that strength can last is less certain. Their divergence from U.S. markets rests partly on short-covering in bonds and expectations of corporate dollar conversions supporting the won — forces that could prove temporary. The U.S. 10-year Treasury yield rose from 4.562 percent on July 10 to 4.713 percent on Aug. 10, an increase of 15.1 basis points. Over the same period, the equivalent yield rose 4.7 basis points in Japan and just 2.0 basis points in Korea. The currency move was even more striking. USD/KRW fell 5.8 percent over the period, while USD/JPY declined 2.0 percent, meaning the won appreciated nearly three times as much against the dollar as the yen did. That marks a sharp reversal from the first half, when the greenback gained 7.7 percent against the won, more than double its 3.5 percent advance against the yen. The rise in U.S. Treasury yields reflected mounting concerns over inflation, oil prices, the fiscal deficit and debt supply. The 30-year Treasury yield climbed to around 5.25 percent on Aug. 10, near its highest level in 19 years. Korea did not escape those pressures. But a sharp reversal in domestic positioning prevented them from feeding fully into Korean government bond yields. After the Bank of Korea raised its base rate from 2.50 percent to 2.75 percent on July 16, foreign investors initially positioned for further tightening. They subsequently reversed course, making net purchases of 137,410 three-year bond futures contracts over 12 consecutive sessions from July 23 through Aug. 7. The three-year Korean government bond yield fell from 3.959 percent to 3.669 percent during that period even as U.S. Treasury yields headed higher. The move points largely to short-covering rather than a fresh wave of long-term bond buying, leaving the market vulnerable once investors finish unwinding positions built around expectations of additional BOK tightening. Korea’s phased inclusion in the FTSE World Government Bond Index, which began in April, has provided a more durable source of demand and helped cushion the bond market. But foreign net investment in Korean bonds slowed to 0.8 trillion won in July from 4.5 trillion won in June, suggesting WGBI-related demand alone cannot explain the recent resilience. BOK research also indicates that much of the overseas passive money tracking bond indexes is currency-hedged, weakening the direct link between WGBI inflows and won appreciation. The currency has instead drawn support from Korea’s swelling export income. The country posted a record $49.73 billion current-account surplus in June, lifting the first-half surplus to $191 billion. Exporter dollar sales have been reinforced by expectations that part of the $26.5 billion raised through SK hynix’s U.S. American depositary receipt offering will eventually be converted into won to finance investment at home. No specific SK hynix conversion has been confirmed. But expectations of additional dollar supply were strong enough to help offset $4.6 billion of Korean retail purchases of U.S. stocks in July and 8.8 trillion won of foreign selling in Korean equities. The mystery is that money has been flowing out through overseas stock purchases and foreign equity selling, yet the won has strengthened sharply. The next complication comes from the BOK. Senior Deputy Governor Ryoo Sang-dai said Tuesday that another rate increase was likely unless an extraordinary shock intervened, arguing that stronger domestic demand would generate gradual but persistent inflation pressure. The remarks were explicitly his personal view. Ryoo is also due to retire on Aug. 20, before the BOK’s Aug. 27 policy meeting, meaning he will not vote on the next decision and limiting the remarks' direct policy weight. Markets nevertheless took notice without treating them as a new shock. The three-year Korean government bond yield closed 3.6 basis points higher at 3.812 percent but remained below its intraday high of 3.831 percent, suggesting Ryoo largely confirmed expectations already embedded in the market. Pressure was greater at the long end. The 10-year yield gained 6.2 basis points to close near its session high at 4.303 percent as higher U.S. yields and oil prices exerted greater pressure, steepening the Korean yield curve. The won strengthened as far as 1,412.24 per dollar before giving back some gains to trade around 1,417 late Tuesday. For Korea’s bond and currency markets, the question is now whether a move born partly from positioning and expectations can turn into something more durable. U.S. inflation and oil prices will test the global side of that divergence, while the BOK’s Aug. 27 meeting will test the domestic side. ___________________________________________________________________________________ AJP Takeaways • South Korea’s market momentum shifted from KOSPI and semiconductor stocks in the first half to the Korean won and government bonds in early second-half trading. • From July 10 through Aug. 10, Korea’s 10-year government bond yield rose just 2.0 basis points, compared with increases of 15.1 basis points in U.S. Treasuries and 4.7 basis points in Japan, while the won appreciated nearly three times as much as the yen. • Korean government bonds were supported by foreign short-covering in three-year futures and phased FTSE World Government Bond Index inclusion, although weaker July bond inflows suggest that support may fade as positions normalize. • The won drew strength from Korea’s record $49.73 billion June current-account surplus, exporter dollar sales and expected conversions of SK hynix’s $26.5 billion ADR proceeds, rather than mainly from currency-hedged WGBI inflows. • Ryoo Sang-dai reinforced expectations of another BOK rate increase, but his Aug. 20 retirement and the limited three-year yield reaction reduced the remarks’ direct market impact, leaving U.S. inflation, oil prices and the Aug. 27 BOK meeting as the next tests. 2026-08-11 17:29:33
  • Korea Exchange Faces Setbacks in Extended Trading Plans
    Korea Exchange Faces Setbacks in Extended Trading Plans The Korea Exchange's ambitious plans to extend trading hours are facing significant setbacks. The introduction of a pre-market has been postponed until the end of next year, and the launch of ETF trading in the aftermarket next month is now in jeopardy. This development diverges sharply from the original goal of establishing a 24-hour trading system by the end of 2027 to enhance competitiveness with global exchanges.According to financial industry sources on August 11, the Korea Exchange convened asset management firms on August 10 to gauge their interest in participating in aftermarket ETF trading. However, all firms reportedly expressed their intention to abstain. The exchange had previously sought to confirm demand for aftermarket ETF trading in March, July, and again in August, but the latest feedback indicates a lack of interest.Concerns regarding aftermarket ETF trading first emerged during a meeting of asset management executives on July 28, which focused on single-stock leveraged ETFs amid rising market volatility. Industry experts voiced that the timing for aftermarket ETF trading might be premature. Conversely, the Korea Exchange had anticipated that if larger asset managers showed interest, others would likely follow suit to maintain competitiveness. Initially, some firms had indicated a willingness to participate, but growing concerns over market volatility have shifted the landscape.Additionally, the decision by the Korea Exchange not to provide real-time indicative net asset values (iNAV) for ETFs traded in the aftermarket has added to the apprehension. Managing the disparity between the underlying asset value and market price is crucial for ETFs, and with limited trading of underlying assets after regular hours, determining fair prices becomes challenging. If the exchange does not provide iNAV, liquidity providers will need to independently calculate fair values and submit bids. The asset management sector has expressed worries that a widening gap between ETF prices and actual values during low liquidity periods could increase investor protection risks.The Korea Exchange finds itself in a difficult position. Its competitor, Nextrade, plans to expand its trading offerings to include ETFs by the end of the year. If the aftermarket ETF trading fails in September, the exchange risks losing the opportunity to dominate after-hours trading in ETF products.The challenges do not end there. Earlier this year, the Korea Exchange had announced plans to implement a 12-hour trading system starting June 29, with a pre-market from 7 to 8 a.m. and an aftermarket from 4 to 8 p.m. However, due to opposition from the securities industry labor union and concerns from the sector, the implementation was postponed to September 14, and in June, the pre-market launch was pushed back to the end of next year.Industry insiders are now questioning the feasibility of the vision presented by Jeong Eun-bo, chairman of the Korea Exchange, for a 24-hour trading system by the end of 2027. With the pre-market delayed until next year, there are doubts about whether the original timeline for achieving a 24-hour trading system can still be met. The initiative to extend trading hours, aimed at enhancing global competitiveness, appears to be stalling due to insufficient preparation and consensus among market participants.* This article has been translated by AI. 2026-08-11 17:24:10
  • Special Prosecutors Charge Former Fire Chief Heo Seok-gon Without Detention
    Special Prosecutors Charge Former Fire Chief Heo Seok-gon Without Detention Former Fire Chief Heo Seok-gon and former Deputy Fire Chief Lee Young-pal have been indicted for their involvement in the emergency martial law declared on December 3, following orders from former Minister of the Interior and Safety Lee Sang-min to cut off power and water to media outlets.The second comprehensive special prosecution team, led by Special Prosecutor Kwon Chang-young, announced on the afternoon of August 11 that they have charged Heo and Lee without detention for their roles in important duties related to insurrection.Heo is accused of receiving instructions from Lee to cooperate with police in cutting off power and water to MBC, JTBC, Hankyoreh, Kyunghyang Shinmun, and Kim Eo-jun's News Factory shortly after the martial law was declared. He allegedly relayed these orders to Lee.Subsequently, Lee reportedly called the Seoul Fire and Disaster Headquarters, asking them to cooperate if police requested assistance regarding the proclamation.Previously, the insurrection special prosecution team, led by Special Prosecutor Jo Eun-seok, indicted Lee for his orders to media outlets, charging him with important duties related to insurrection. Both the first and second trial courts found him guilty, and the case is currently awaiting a decision from the Supreme Court's full bench.The insurrection special prosecution team had investigated Heo and Lee for abuse of authority but concluded the case with a non-prosecution decision. However, the comprehensive special prosecution team has reopened the investigation, believing that the charges against them could be substantiated given the court's findings against Lee.* This article has been translated by AI. 2026-08-11 17:24:00
  • Typhoon Chan-hom Expected to Make Landfall in Eastern Japan Tonight
    Typhoon Chan-hom Expected to Make Landfall in Eastern Japan Tonight Typhoon Chan-hom is expected to make landfall along the eastern Pacific coast of Japan on the night of August 11. Unlike typical typhoons that approach from the south, this storm is taking an unusual path from the east to the west. Ibaraki Prefecture in the Kanto region, which includes the capital, is a likely landing point, with Fukushima Prefecture in the Tohoku region also being mentioned. Whichever location is hit, it will mark the first time since typhoon statistics began in 1951 that either prefecture has experienced a landfall. The typhoon is forecasted to cross Honshu from east to west and weaken into a tropical depression by August 12 along the Sea of Japan coast in western Japan. According to Japan's public broadcaster NHK, as of 2 p.m. on August 11, Typhoon Chan-hom was located about 130 kilometers southeast of Iwaki City in Fukushima Prefecture, moving southwest at 30 kilometers per hour. The central pressure of the storm is 985 hectopascals, with maximum sustained winds of 23 meters per second and gusts reaching 35 meters per second. Winds of 15 meters per second or more are being reported within 500 kilometers east and 390 kilometers west of the storm's center. In Ishinomaki City, Miyagi Prefecture, maximum gusts reached 23.7 meters per second at 1:30 p.m. The unusual path of this typhoon is attributed to a high-pressure system covering northern Japan, which is blocking its northward movement. The Asahi Shimbun reported that this high-pressure area is centered north of Hokkaido and extends widely to the Sea of Japan. Since 1951, there have only been three instances of a typhoon making landfall on the Pacific coast of the Tohoku region, occurring in 2016, 2021, and 2024. The Japan Meteorological Agency has warned that the typhoon's rare approach could lead to stronger winds and higher waves than usual along the Pacific coasts of Tohoku and Kanto. Wave heights are expected to reach up to 7 meters on August 11. The maximum wind speeds in Tohoku and Kanto, including the Koshin region, are forecasted to be 25 meters per second, with gusts up to 35 meters per second, making it difficult to drive at normal speeds. The warm, moist air brought by the typhoon, combined with cold air aloft, is expected to create unstable atmospheric conditions, leading to heavy rainfall in various areas. By noon on August 12, the expected rainfall over 24 hours is up to 180 millimeters in Tohoku and Kanto, 120 millimeters in the Tokai region, 100 millimeters in the Izu Islands, and 80 millimeters in Niigata Prefecture and Hokuriku. Additionally, another 24-hour period until noon on August 13 is expected to bring up to 150 millimeters in the Tokai region and 120 millimeters in both Tohoku and Kinki regions. The typhoon's approach coincides with the Obon holiday, causing disruptions to transportation and various events. Although Obon is not an official holiday, many businesses close during this time, leading to a surge in travelers. All Nippon Airways (ANA) reported that as of 9:30 a.m. on August 11, 58 flights arriving at or departing from Haneda and Narita airports were canceled, affecting approximately 11,000 passengers. Japan Airlines (JAL) also canceled four flights to and from Narita Airport. East Japan Railway Company announced potential delays and cancellations for the Tohoku Shinkansen. A fireworks festival scheduled for the afternoon of August 11 in Koto, Tokyo, was canceled, and ferry services between Oarai Port in Ibaraki Prefecture and Hokkaido were suspended on August 11 and 12. The Japan Meteorological Agency urged residents in Tohoku, Kanto, and other parts of eastern Japan to prepare for landslides, flooding in low-lying areas, and rising river levels. They also advised caution against strong winds, including gusts and tornadoes. After the typhoon passes on August 12, sudden heavy rain and hail may occur, particularly in southern Kanto due to the influence of cold air aloft.* This article has been translated by AI. 2026-08-11 17:16:00
  • Kim Yong-hyun Claims Innocence in Appeal Over Controversial Phone Delivery
    Kim Yong-hyun Claims Innocence in Appeal Over Controversial Phone Delivery Kim Yong-hyun, the former Minister of National Defense, who was sentenced to three years in prison for delivering a secure phone to former Army Intelligence Commander Noh Sang-won under false pretenses, asserted his innocence during the first hearing of his appeal. The Special Prosecutor's team for insurrection, led by Cho Eun-seok, stated that the original sentence was too lenient.The 12-2 Criminal Division of the Seoul High Court (Judges Jo Jin-goo, Kim Min-a, and Lee Seung-cheol) held the first hearing of Kim's appeal on August 11, addressing the charges of obstruction of public duty and evidence destruction. The hearing involved listening to both sides' arguments and rebuttals.The prosecution argued that given the defendant's position, the seriousness of the offenses, and the circumstances following the crimes, the three-year sentence was insufficient. They emphasized that the delivery of the secure phone to Noh, who was not authorized to receive it, resulted in significant harm to the national security system, particularly during a state of emergency.Regarding the evidence destruction charge, the prosecution claimed, "This is a crime that jeopardizes the existence of the state and undermines democratic order. It is incomparable to any other crime and has made it difficult to ascertain the facts."In contrast, Kim's defense team completely denied the allegations. They argued that the initial court's decision, which concluded that the secure phone was provided to a civilian with the intent to conceal its purpose, was incorrect.The defense maintained that there was no misunderstanding or confusion on the part of the responsible officials. They asserted that Kim Seong-hoon, the former deputy chief of the Presidential Security Service, believed Kim Yong-hyun understood the purpose of the secure phone and did not inquire further. They added that Kim Seong-hoon had confirmed with the operational staff that the phone could be provided.The defense also challenged the evidence destruction charge, claiming that Yang, who destroyed documents and devices after the state of emergency was declared, did so without intent. They argued that Yang viewed the actions as routine security measures and that if he had believed the documents would serve as evidence in a criminal case, he would not have acted as he did.The prosecution countered, stating, "After former President Yoon Suk-yeol declared a state of emergency, there was significant public interest, and investigations into the facts and accountability of key individuals were ongoing. Kim Yong-hyun was in a situation where he could potentially be a target of the investigation, and Yang intentionally destroyed evidence."Kim Yong-hyun expressed his dismay at being labeled a liar by the original court and the special prosecutor. He stated, "I did not unilaterally request the secure phone; I inquired with the security service about its availability. I want to clarify that the delivery occurred after I received confirmation that it could be provided." He also urged the court to ensure that no disadvantages befall the security service personnel and his colleagues who are fulfilling their duties.The court plans to hold another hearing on September 1 at 2 p.m. for witness examinations.Kim Yong-hyun was indicted for delivering the secure phone to Noh Sang-won on December 2, 2024, the day before the state of emergency was declared, and for instructing Yang, who served as his secretary, to destroy documents related to the emergency. The original court found him guilty on all charges and sentenced him to three years in prison.* This article has been translated by AI. 2026-08-11 17:16:00
  • Samsung brings cross-device gaming lineup to Gamescom 2026
    Samsung brings cross-device gaming lineup to Gamescom 2026 SEOUL, August 11 (AJP) - Samsung Electronics will showcase a gaming lineup spanning PCs, consoles and mobile devices at Gamescom 2026 in Cologne, Germany, as the South Korean tech giant seeks to connect its hardware portfolio across gaming platforms. The world's largest gaming exhibition will run from Aug. 26 to 30, with about 1,500 software, hardware and game content companies expected to participate. Last year's event drew 360,000 visitors, according to Samsung. Samsung's booth will feature products including its Odyssey G8 gaming monitor, 9100 PRO solid-state drive and Galaxy Z Fold8 Ultra. The Odyssey G8 supports a dual mode that switches between 6K resolution at 165Hz and 3K at 330Hz, alongside Nvidia G-SYNC compatibility and AMD FreeSync Premium. Visitors will also be able to play Pearl Abyss' open-world action-adventure title "Crimson Desert" on the Odyssey G8, while Samsung will offer gaming demonstrations on mobile devices including the Galaxy Z Fold8 Ultra and Galaxy S26 Ultra. Samsung will hold the world finals of its PlayGalaxy Cup on Aug. 27 and 28, featuring "PUBG Mobile." Ten teams that qualified from five regions — North America, Latin America, Europe, Southeast Asia and Southwest Asia — will compete in the tournament. 2026-08-11 17:12:52
  • President Lee: Protecting Heroes is Protecting the Nation
    President Lee: Protecting Heroes is Protecting the Nation 이재명 대통령은 11일 대한민국 최초의 소방 전문병원인 국립소방병원 개원을 맞아 “영웅을 지키는 것이 곧 국가와 국민을 지키는 것”이라고 말했다. 이 대통령은 이날 충북 음성군 국립소방병원에서 열린 개원식 기념사를 통해 “국가의 제1책무는 국민의 생명과 안전을 지키는 것”이라며 이같이 밝혔다. 그러면서 “이 위대한 과업을 재난 현장에서 온몸으로 감수해 내는 분들이 바로 소방공무원”이라고 강조했다. 정부는 의료진 기숙사 마련과 소방의학 연구개발(R&D)센터 확충, 24시간 응급의료체계 가동을 지원해 국립소방병원을 소방의료와 충북 지역 공공의료를 함께 담당하는 핵심 공공병원으로 육성할 방침이다. 이 대통령은 “한 치 앞이 보이지 않는 불길과 무너진 건물더미 속으로 가장 먼저 들어가고 가장 늦게 나오는 소방공무원들이 있기에 국민이 안심하고 하루하루를 보낼 수 있다”며 소방관들의 헌신에 감사를 표했다. 특히 이 대통령은 소방공무원들이 구조·구급 현장에서 입은 신체적·정신적 상처에 대해 국가 차원의 체계적인 관리가 필요하다고 강조했다. 이 대통령은 “다른 사람의 생명을 구하기 위해 뛰어든 순간이 정작 소방공무원들의 몸과 마음에는 큰 상처로 남았다”며 “국립소방병원이 소방공무원을 가장 깊이 이해하고 치료하는 든든한 안식처가 되기를 바란다”고 당부했다. 국립소방병원을 소방의학 연구의 중심으로 발전시키겠다는 구상도 내놨다. 세계적 수준의 임상 역량을 보유한 서울대병원의 의료 인력과 소방의학연구소가 축적한 데이터를 결합해 직무 수행 과정에서 발생하는 질병을 선제적으로 예방하고 치료하도록 하겠다는 것이다. 이 대통령은 “서울대병원 의료진이 안정적으로 근무할 수 있도록 기숙사를 마련하고 소방의학 연구와 의료 혁신을 뒷받침할 R&D센터도 확충해 나가겠다”며 “수준 높은 응급의료체계가 24시간 가동될 수 있도록 행정적·재정적 지원을 아끼지 않겠다”고 약속했다. 소방공무원뿐 아니라 충북 지역 주민을 위한 공공의료 기능도 강조했다. 이 대통령은 “국립소방병원이 대한민국의 중심인 충북에서 지역 공공의료의 거점 역할을 충실하게 수행할 것으로 기대한다”며 “제복 입은 영웅들과 지역 주민 모두의 건강을 책임지는 국가 핵심 공공병원으로 자리매김하도록 지원하겠다”고 밝혔다. 이 대통령은 개원식 이후 고압산소치료실과 심폐재활검사시스템실, 통합재활센터 등 병원 주요 시설을 둘러봤다. 고압산소치료 장비에 대한 설명을 들은 뒤에는 “일산화탄소 질식 환자가 치료받을 곳이 많지 않은데 이곳으로 오면 되겠다”고 말했다. 재활치료를 받고 있는 소방관에게는 부상 경위와 근무 기간 등을 물으며 “전문적으로 치료받을 수 있는 곳이 생겨서 좋겠다”고 격려했다. 현대자동차그룹이 기증한 보행재활로봇을 살펴본 뒤에는 지역 주민도 치료받고 있는지 확인하고, 치료 중인 주민에게 빠른 쾌유를 기원했다. 이 대통령은 시찰을 마친 뒤 사진 촬영과 악수를 요청하는 의료진 및 병원 직원들과 일일이 기념사진을 찍었다. 일부 촬영에는 강훈식 비서실장이 직접 나서기도 했다. 국립소방병원은 소방공무원의 화상과 근골격계 질환, 호흡기 질환, 외상후스트레스장애 등 직무 특성에 따른 질병을 전문적으로 진료하는 동시에 충북 중부권 주민을 위한 공공의료 서비스를 제공하게 된다.* This article has been translated by AI. 2026-08-11 17:08:00
  • Three Tax Deductions You Might Miss That Could Save You Money
    Three Tax Deductions You Might Miss That Could Save You Money The income tax withheld from monthly salaries is reconciled during the year-end settlement, allowing taxpayers to receive refunds for overpayments or make additional payments for underpayments. Experts advise that managing tax deduction items now, rather than waiting until the year-end settlement season, can significantly increase refund amounts.The first item to check is the usage ratio of credit and debit cards. Only the amount spent that exceeds a certain percentage of total salary is eligible for deductions, and generally, the deduction rates for debit cards and cash receipts are higher than those for credit cards. This is why consumers adjust their spending plans as the year-end approaches.Contributions to retirement savings and Individual Retirement Pension (IRP) accounts are also key tax-saving tools. Tax credits are available for contributions up to a certain limit, making these popular options among employees. Planning contributions in advance rather than making a lump sum payment at year-end can help reduce financial burdens.Medical expenses, education costs, and donations are also eligible for deductions. Expenses incurred for dependents can also qualify for deductions, so it is advisable to check related receipts and documentation in advance.For dual-income couples, it is important to evaluate who should claim the dependent deduction. Since the same family cannot be claimed for deductions by both partners, considering income levels and deduction items can lead to differences in refund amounts.Housing-related deductions are often overlooked. Rent tax credits for non-homeowners and deductions for contributions to comprehensive housing subscription savings can provide tax benefits if eligibility criteria are met.Experts emphasize that the year-end settlement process is not just about submitting documents in January or February; it is influenced by year-round spending, financial product subscriptions, and management of deduction items. The more prepared individuals are, the higher the likelihood of increasing their refund amounts.* This article has been translated by AI. 2026-08-11 17:04:00
  • Construction Companies Face Mixed Results in Overseas Projects
    Construction Companies Face Mixed Results in Overseas Projects Domestic construction companies are experiencing mixed results in their overseas operations. While existing overseas projects supported performance in the first half of the year, the ability to secure large contracts for nuclear power, liquefied natural gas (LNG), and data centers in the second half is expected to determine results for next year.According to the Korea Construction Industry Institute on August 11, the total value of overseas construction orders for the year is projected to reach between $27.57 billion and $30.24 billion. Given that domestic construction companies secured $11.281 billion in overseas orders in the first half, they will need to secure an additional $16.29 billion to $18.96 billion in the second half, representing an increase of at least 44% compared to the first half.In the first half, Hyundai Engineering & Construction led with overseas orders totaling $3.514 billion, largely due to securing major projects like an electric steel mill in the United States. The company plans to expand its overseas operations in the second half by pursuing large nuclear power projects, small modular reactors (SMRs), solar energy, and data centers. The Kozloduy nuclear power plant in Bulgaria has already entered the design phase, and its transition to an EPC contract is seen as a pivotal moment for expanding large nuclear projects.Samsung C&T has seen significant revenue from existing overseas projects. While it has secured new contracts for a semiconductor plant in Xi'an, China, and a data center in Malaysia, revenue recognition from ongoing projects has contributed to its performance. The company cited the ramp-up of high-tech construction and favorable progress in overseas plant projects as key factors for its improved results. In the second half, it plans to expand new orders in Southeast Asia, including data centers, SMRs, and renewable energy projects.Daewoo Engineering & Construction's overseas order backlog could change significantly depending on the outcome of large LNG project contracts in the second half. With increased prospects for securing major projects like the Papua New Guinea LNG and Mozambique's Rovuma LNG, the company has raised its overall new order target for the year from 18 trillion won to 27 trillion won, a 50% increase.GS Engineering & Construction reported an overseas order backlog of 24.9 trillion won at the end of the first half, accounting for about 33% of its total backlog of 75.3954 trillion won, indicating a solid existing overseas pipeline. The contract amounts for projects like the Singapore rail and tunnel have increased, leading to a slight rise in backlog compared to the end of last year. However, new orders for plants and infrastructure have decreased by 80.9% and 56.2%, respectively, compared to the same period last year, leaving the pursuit of follow-up plant and infrastructure orders as a challenge for the second half.DL E&C has a relatively greater need to supplement its overseas workload. The company has extensive experience in EPC for various power plants both domestically and internationally and is currently engaged in a local project in the U.S. The synergy with DL Energy, which has experience in power project development, investment, and operation in the U.S., is also anticipated.The second half is expected to see a competitive race among construction companies for overseas orders in North America and the Pacific. In the first half, orders from the Middle East, a traditional overseas construction stronghold, plummeted to $1.272 billion, a 77.2% decrease compared to the same period last year. In contrast, the North America and Pacific region saw a 165% increase to $7.246 billion, accounting for 64.2% of total orders.A representative from one construction company noted, “By sector, industrial facilities (plants) accounted for $8.474 billion, or 75.1% of total orders,” adding, “There is a noticeable shift in the focus of overseas orders from oil and gas plants centered in the Middle East to manufacturing facilities, LNG, and nuclear power in North America.”* This article has been translated by AI. 2026-08-11 17:00:20
  • Ruling Party Task Force to Establish Evaluation System for Elected Officials
    Ruling Party Task Force to Establish Evaluation System for Elected Officials The People Power Party's Task Force on Evaluation Innovation for Elected Officials has decided to conduct extensive field consultations and external research to establish a new evaluation system.During its second meeting held at the National Assembly on August 11, the task force agreed to gather a wide range of opinions from all elected officials affiliated with the party, including local and district heads, local council members, and senior former lawmakers. Additionally, the task force will work on developing a customized evaluation system that reflects the unique characteristics of each elected official through external research.The plan aims to derive a tailored evaluation system that comprehensively measures factors such as individual activity areas and contributions to party affairs, while scientifically addressing regional advantages and disadvantages. This approach seeks to continue the trend of data-driven quantitative assessments and region-specific adjustments established in previous evaluations of elected officials.The task force members particularly emphasized the importance of reflecting the opinions of the public and party members in the evaluation of elected officials, viewing this as a crucial step toward becoming a people-oriented party. Consequently, they agreed to explore practical and transparent methods to incorporate the voices of citizens and party members into the evaluation process.Jeong Hee-yong, the task force chair, stated, "Establishing a transparent system based on objective data and indicators is the starting point for evaluation innovation. We will complete a fair evaluation system that allows us to hear the voices of the public and party members, enabling the People Power Party to stand out as a competent party."On the same day, the task force also compared and reviewed the evaluation systems of its own party and other political parties. Jeong noted, "We have laid some groundwork in the past regarding evaluation systems, and this is a process of enhancing it by referencing examples from other parties. I will listen to various opinions."* This article has been translated by AI. 2026-08-11 17:00:00