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  • Product recalls rise for 1st time in 3 years
    Product recalls rise for 1st time in 3 years SEOUL, August 10 (AJP) - The number of product recalls in South Korea rose last year for the first time in three years, the Korea Fair Trade Commission (KFTC) said on Monday. The customer watchdog, which compiled and analyzed recall data from various government agencies for last year, found that the total number of recalls reached 2,656, up 119 cases or 4.7 percent from a year earlier. It was the first increase since 2022, when the number of recalls stood at 3,586 before shrinking to 2,813 in 2023 and 2,537 in 2024. KFTC attributed the increase to stepped-up efforts to block hazardous products sold through overseas websites, as well as stricter safety guidelines for food and other products. Recalls of industrial products rose 8.6 percent to 1,282 and those of medical devices increased 8.5 percent to 308, while automobile recalls fell 24.8 percent to 300 and pharmaceutical recalls declined 13.5 percent to 295. As purchases through overseas websites expand and more hazardous foreign products flow into the domestic market, the government has strengthened monitoring through cooperation with relevant ministries and agencies. "We will continue to work closely with relevant agencies to thoroughly block hazardous products from being distributed in South Korea," a KFTC official said, adding that recall-related information is being shared on the state-run Consumer24 website so consumers can easily check whether they are affected. AJP Takeaways: - South Korea recorded 2,656 product recalls in 2025, up 119 cases, or 4.7 percent, from 2,537 in 2024, marking the first annual increase in recalls since 2022, according to the Korea Fair Trade Commission (KFTC). - Recalls had declined for two consecutive years before 2025, falling from 3,586 in 2022 to 2,813 in 2023 and 2,537 in 2024. - Industrial product and medical device recalls increased in 2025, rising 8.6 percent to 1,282 and 8.5 percent to 308, respectively, while automobile recalls fell 24.8 percent to 300 and pharmaceutical recalls declined 13.5 percent to 295. - The Korea Fair Trade Commission attributed the increase to stronger efforts to block hazardous products sold through overseas websites and tighter safety guidelines for food and other products, amid growing overseas online purchases and increased imports of potentially hazardous foreign products. - The South Korean government is strengthening interagency monitoring of hazardous products, while recall-related information is being shared on the state-run Consumer24 website to help consumers check whether products they have purchased are subject to domestic or overseas recalls. 2026-08-10 14:19:17
  • Police Consider Investigation into Allegations of Sexual Services for Referees by Korean Football Association
    Police Consider Investigation into Allegations of Sexual Services for Referees by Korean Football Association The police are examining procedural violations in the appointment of former South Korean national football team coach Hong Myung-bo and are also considering investigating past allegations of sexual services provided to referees. However, they emphasize that they must first assess basic investigative requirements, including the statute of limitations, since the incidents occurred 15 years ago.According to a report from Yonhap News on August 10, a Seoul police official stated during a regular briefing that when asked about the possibility of investigating the sexual service allegations involving the football association, "If we begin an investigation, we will consider it. We have not started yet."The official added, "It seems necessary to review the prosecutorial requirements, but we have not confirmed the details yet." This suggests that they need to evaluate the basic conditions for criminal prosecution, including the statute of limitations, before proceeding with any investigation.A report from the Ministry of Culture, Sports and Tourism, made public on August 7, revealed that the Korean Football Association provided sexual services to about ten foreign referees and supervisors during seven A matches and Olympic team games held in South Korea from March 2011 to March 2012. Payments were made using the association's corporate credit cards at massage parlors in Seoul's Gangnam district, Changwon in Gyeongnam, and Ulsan, ranging from hundreds of thousands to over one million won.For the police to initiate a formal investigation, there are numerous factors to consider. Under current law, they may contemplate charges of breach of trust or violations of the law on the punishment of prostitution. However, the statute of limitations of over 15 years typically applies only to serious crimes. If the allegations are proven true, but the statute of limitations has expired, compulsory investigations based on potential penalties would not be possible.Currently, the police are focusing their investigation on the process of appointing former coach Hong Myung-bo. They are closely examining whether there was any undue interference in the decision-making structure of the football association, from the recommendation by the Strengthening Committee to the board's approval.A police official stated that they had conducted searches at the Football Association headquarters in Jongno, Seoul, and in Cheonan, South Chungcheong Province, on August 6, and that the materials obtained are significant. "The Strengthening Committee recommends candidates, and the board makes decisions, so those documents are meaningful. We will assess the presence of any charges based on testimonies from related individuals," the official said.The police have summoned several figures from the football community who were part of the Strengthening Committee at the time and have also questioned Hong Myung-bo, who is under investigation, along with Lee Im-sang, the former technical director of the football association.Additionally, they have secured the mobile phone of former Football Association President Chung Mong-kyu. In response to allegations regarding the replacement of Chung's phone, the police emphasized, "We will thoroughly investigate that aspect as well."* This article has been translated by AI. 2026-08-10 14:16:00
  • Office Worker Wins $500,000 Lottery Prize During Lunch Break
    Office Worker Wins $500,000 Lottery Prize During Lunch Break An office worker who scratched off a lottery ticket purchased during lunch has won a first prize of 500 million won (approximately $500,000).On August 10, the lottery operator, Donghaeng Lottery, shared the story of the first prize winner, identified only as A. A regularly buys lottery tickets, including Lotto, Pension, and Spitto, during lunch or on the way home from work. About a month ago, A visited a lottery retailer on Wangsan Road in Dongdaemun District.After exchanging previously winning tickets for new ones, A returned to the office and secretly scratched off the new ticket. To A's surprise, it turned out to be a first prize winner worth 500 million won.A expressed excitement, saying, "I wanted to scream with joy, but since I was at work, I could only stomp my feet in happiness. I was so shocked that my hands and feet were trembling, and I think I stared blankly at my desk for a while."A added, "Due to a busy schedule, I was only able to claim the prize now, but receiving it has made the win feel even more real, and I am truly happy."Regarding plans for the prize money, A mentioned, "I am planning to move, so I will use the winnings to help secure a new home."The Spitto 1000 lottery works by matching one of the six numbers on the ticket with a lucky number to win a prize, with the first prize set at 500 million won.* This article has been translated by AI. 2026-08-10 14:12:00
  • TWICEs Jeongyeon Leaves JYP Entertainment to Join Baro Entertainment
    TWICE's Jeongyeon Leaves JYP Entertainment to Join Baro Entertainment Group TWICE's Jeongyeon is embarking on a new journey as an actress, Yoo Jeong-yeon. Baro Entertainment announced on August 10 that it has signed an exclusive contract with Yoo Jeong-yeon. The agency expressed its excitement, stating, "We are truly happy to form a valuable relationship with Yoo Jeong-yeon, who possesses diverse charms and limitless potential," adding, "We deeply resonate with her sincere attitude and passion for acting." Baro Entertainment also stated, "We will be a strong partner, providing unwavering support for Yoo Jeong-yeon as she takes on new challenges as an actress while continuing her group activities smoothly, based on the global presence she has built over the years as an artist." Yoo Jeong-yeon debuted with TWICE in 2015 and has since garnered love from fans both domestically and internationally for her captivating voice and consistent activities. In addition to her music career, she has also made a name for herself in various fields, including entertainment and as a host. With this new contract, Yoo Jeong-yeon plans to expand her career as an actress. Given that Baro Entertainment is involved in both actor management and film and drama production, there is keen interest in her future endeavors. Meanwhile, Baro Entertainment's roster includes actors Jin Goo, Byun Woo-seok, Gong Seung-yeon, Park Jung-woo, Lee Yoo-mi, Lee Hong-nae, Lee Soo-kyung, Lee Chae-min, and Kim Si-ah.* This article has been translated by AI. 2026-08-10 14:08:10
  • Controversy Arises Over Proposed Exceptions to 52-Hour Workweek in Mega Special Zone Law
    Controversy Arises Over Proposed Exceptions to 52-Hour Workweek in Mega Special Zone Law The government has indicated it may pursue exceptions to the 52-hour workweek as part of the Mega Special Zone Law for three major mega-projects aimed at local-led growth. This announcement has sparked opposition even within the ruling coalition as of August 10. The Democratic Party has stated it will monitor the government's developments closely, while the Justice Innovation Party and the Progressive Party have made it clear they oppose such measures.Han Jeong-ae, the Democratic Party's policy chief, held a press conference on August 9, addressing the differing opinions between the Ministry of Trade, Industry and Energy and the Ministry of Employment and Labor regarding the '52-hour workweek exception.' She remarked, "It is a natural phenomenon for there to be differences. If nothing is submitted to the National Assembly, that would be more unusual." She added, "There will likely be aspects that we can discuss in the National Assembly, and it would be beneficial to engage in thorough discussions with stakeholders at that time."Previously, Kim Jeong-kwan, the Minister of Trade, Industry and Energy, who has a background in business, argued for the necessity of exceptions to the 52-hour workweek to provide work opportunities for employees. In contrast, Kim Young-hoon, the Minister of Employment and Labor, who previously led the Korean Confederation of Trade Unions, expressed the need for a cautious approach.Opposition has also emerged from within the ruling coalition in the 22nd National Assembly. Shin Jang-sik, leader of the Justice Innovation Party, stated during a Supreme Council meeting that the '52-hour workweek' should not be a subject for negotiation. He emphasized the need to find alternative ways to promote the semiconductor industry, pointing out that similar arguments were made by An Deok-geun, the then-Minister of Trade, Industry and Energy, just before the impeachment of former President Yoon Seok-youl in March 2025.Shin further asserted, "The 52-hour work limit is a system born from the blood and tears of countless workers, including the late Jeon Tae-il and female factory workers. It is a precious social agreement achieved through public consensus on 'living like a human.' We should not entertain thoughts of undermining it. The government should present plans on how to implement and establish the 4.5-day workweek, which was a campaign promise of President Lee Jae-myung."Yoon Jong-o, the floor leader of the Progressive Party, also raised concerns during the Supreme Council meeting, questioning how jobs created in the region could be considered balanced development if they require longer hours, increased use of non-regular workers, and easier outsourcing.He added, "The competitiveness of advanced industries does not stem from long working hours. It arises from technological innovation, investment in research and development, skilled talent, stable energy and industrial infrastructure, and good jobs where workers want to stay long-term. The Mega Special Zone should not take labor back to the past while industries move toward the future. The Lee Jae-myung administration must clarify this point." 2026-08-10 14:08:00
  • Police Raid Highlights Scandal Involving Sexual Services for Referees in South Korean Football
    Police Raid Highlights Scandal Involving Sexual Services for Referees in South Korean Football The Korea Football Association is under scrutiny following a police raid related to allegations of misconduct in the hiring process of former national team coach Hong Myung-bo. The situation has intensified with revelations that the association provided sexual services to foreign referees in the past.A report from the Ministry of Culture, Sports and Tourism, made public on August 7, revealed that from March 2011 to March 2012, the Korea Football Association offered sexual services to over 10 foreign referees and officials during seven A matches and Olympic team games held in South Korea.The referees came from various countries, including Japan, the United Arab Emirates, Iran, Bahrain, and Uzbekistan. Payments were made using the association's corporate credit cards at massage parlors in Seoul's Gangnam district, Changwon, and Ulsan, ranging from hundreds of thousands to over one million won.During the seven matches officiated by these referees, the South Korean football team achieved five wins and two draws, remaining undefeated. This included victories in the final qualifiers for the 2012 London Olympics against Oman (2-0) and Qatar (0-0), as well as wins in the 2014 FIFA World Cup qualifiers against Kuwait (2-0) and Honduras (4-0), and draws against Serbia (2-2) and Poland (1-1), along with a win against the Chinese Olympic team (1-0).However, it is unlikely that this scandal will lead to direct disciplinary action from FIFA, as the statute of limitations for general violations under FIFA's ethics code is limited to 5 to 10 years. Given that these events occurred nearly 15 years ago, retroactive application of penalties is structurally challenging.Nonetheless, the fallout is expected to damage the association's credibility both domestically and internationally. Foreign media outlets are closely covering the controversy surrounding the Korea Football Association.The Japanese football media outlet The World described the allegations of sexual services as actions that undermine the fairness and ethics of sports, warning that the issue could have repercussions not only for the Korea Football Association but for the entire international football community.Japanese-language AFP and other outlets expressed shock at the involvement of Japanese referees in the scandal.The police raid conducted on August 6 has also drawn significant attention from foreign media. Major outlets, including Reuters, the Associated Press, The Washington Post, and Al Jazeera, reported on the police's search of the Korea Football Association headquarters in Seoul and the Chungnam Football Center in Cheonan as part of the investigation into allegations of misconduct in Hong's hiring.The search warrant executed that day reportedly included charges of obstruction of business. This marks the first time police have conducted a forced investigation into the Korea Football Association regarding this matter.Global football media outlet Goal.com highlighted the core allegation of the 'Bakery Scandal,' which involves an unauthorized individual offering the coaching position near the coach's home. Reports noted that the disappointing outcome of South Korea's elimination from the group stage of the 2026 North and Central America World Cup reignited public anger and revived an investigation that had stalled for over two years.AFP noted that the decision to bench Son Heung-min during the first half of the pivotal match against South Africa sparked outrage among fans, who jeered at Hong upon his return to the airport.Additionally, the Yomiuri Shimbun pointed out that questions about the transparency and fairness of the hiring process have arisen due to the connection between former Korea Football Association President Chung Mong-kyu and Hong, who graduated from the same university, especially following the criticism that erupted after the team's group stage exit from the North and Central America World Cup.* This article has been translated by AI. 2026-08-10 14:08:00
  • Daehan Optical Communication Rises 18% on U.S. Import Regulation Hopes
    Daehan Optical Communication Rises 18% on U.S. Import Regulation Hopes Daehan Optical Communication is experiencing a surge in stock prices following news of U.S. regulations on imports of Chinese optical transceivers.As of 1:48 PM on the Korea Exchange, Daehan Optical Communication's shares rose by 2,090 won (18.24%) to 13,550 won. Earlier in the day, the stock peaked at 13,430 won, marking a 17.19% increase.This upward trend is attributed to reports that the Federal Communications Commission (FCC) is moving forward with plans to restrict imports of Chinese optical transceivers, which are considered essential components for building artificial intelligence (AI) data centers.On August 4, Reuters reported, citing knowledgeable sources, that the FCC is pursuing a ban on imports of new Chinese optical transceivers.Market analysts suggest that as the technological rivalry between the U.S. and China intensifies, domestic optical communication companies may benefit from this situation. Kang Jin-hyuk, a researcher at Shinhan Investment Corp., stated, "In the context of ongoing U.S.-China competition, the FCC's import regulations on optical transceivers have led to a rise in certain optical communication stocks."At the same time, other optical communication-related stocks, including RFHIC, Wooree Net, and Inno Instrument, are also showing positive trends.* This article has been translated by AI. 2026-08-10 14:04:10
  • Woori Bank Enhances Mobile Plan Benefits, Offers Youth Plans with Zero Effective Cost
    Woori Bank Enhances Mobile Plan Benefits, Offers Youth Plans with Zero Effective Cost Woori Bank has effectively reduced the burden of communication costs to nearly zero for customers who sign up for its mobile plans by offering Naver Pay and additional discounts.On August 10, Woori Bank announced that its mobile service, Woori WON Mobile, is running a promotion throughout August aimed at significantly lowering communication costs for young customers with its "Use and Receive Final Benefit Price of 0 Won!" event.This promotion is available to customers aged 19 to 39 who sign up for the "Youth Dream Plan." Customers who enroll in this plan and participate in the event this month will receive 30,000 won in Naver Pay (Npay), and an additional 5,000 won if they activate their service with an eSIM.Depending on the plan, customers can receive discounts of up to 4,400 won per month for 36 months, along with Honey Money (integrated points from Woori Financial Group) for six months, allowing some plans to effectively cost 0 won. Customers who complete their activation by the 19th will also receive a coupon for a chicken set.Customers enrolled in the Youth Dream Plan can also benefit from the "Woori WON Data Coupon." This enhanced service allows users to access up to 20GB of data each month without needing a partner.Yoon Se-ra, head of Woori Bank's WON Mobile Division, stated, "We will continue to introduce differentiated communication and financial benefits tailored to the lifestyles of young people."* This article has been translated by AI. 2026-08-10 14:04:00
  • Rival parties vie to woo younger voters
    Rival parties vie to woo younger voters SEOUL, August 10 (AJP) - Support for the ruling Democratic Party (DP) showed a sharp generational split among young voters, plunging among those in their 20s while gaining ground among voters in their 30s, according to a survey by pollster Realmeter released on Monday. The survey showed the main opposition People Power Party (PPP) leading the DP 53.8 percent to 22.7 percent among voters aged 18 to 29, while the DP led the PPP 38.4 percent to 33.3 percent among those in their 30s, highlighting the widening divide among younger voters. The two rival parties are stepping up efforts to court voters in their 20s and 30s as shifting voting patterns and a growing share of politically unaffiliated young people turn the demographic into an increasingly important electoral battleground. The competition has become particularly visible ahead of the DP's Aug. 17 national convention, where the three candidates for party leadership - Chung-rae, Kim Min-seok and Song young-gil — have each unveiled proposals to expand political representation for younger generations. Jung has proposed appointing a young rank-and-file party member to the Supreme Council. He has also pledged to place two candidates representing people in their 20s and 30s — one man and one woman — in the party's proportional representation list for the 2028 parliamentary elections. Kim has proposed creating a permanent body directly under the party leader to focus on issues affecting people in their late teens through their 30s. The body would bring together lawmakers serving on parliamentary committees dealing with youth-related issues. He has also called for regular consultations between the government and the ruling party on youth policy and pledged to reserve one appointed Supreme Council seat for a young member. Song, meanwhile, has pledged to allocate both of the party leader's appointed Supreme Council seats to young members. He has also proposed developing former U.S. military land in Yongsan, central Seoul, to provide 50,000 homes for young people, newlyweds and those without homes, while offering airfare and overseas living expenses to 100,000 young people struggling to find jobs. The intensified focus comes after recent elections showed signs of weakening support for the DP among younger voters. In the 2025 presidential election, an exit poll conducted by South Korea's three major terrestrial broadcasters showed then-presidential candidate Lee Jae Myung receiving 41.3 percent among voters in their 20s. Conservative candidates Kim Moon-soo of the PPP and Lee Jun-seok of the Reform Party received 30.9 percent and 24.3 percent, respectively, giving the two candidates a combined 55.2 percent in the age group. Among voters in their 30s, Lee Jae Myung received 47.6 percent, compared with 32.7 percent for Kim and 17.7 percent for Lee Jun-seok. The PPP is also seeking to expand its appeal among younger voters. PPP leader Jang Dong-hyeok proposed in a parliamentary speech in February lowering the voting age from 18 to 16, arguing that younger citizens should be given greater opportunities to participate in politics. He called for discussions in the National Assembly on applying the lower voting age beginning with the June 3 local elections. The party has also sought to highlight issues it says are particularly important to younger voters including housing and concerns over fairness in the electoral process. It has criticized the current Lee administration's changes to real estate taxation, arguing that they could increase burdens on younger people and renters and make it more difficult for them to move up the housing ladder. Recent opinion polls underline the challenge facing both parties. Another poll by the National Barometer Survey released last week found a substantial generational divide over the government's housing policy. According to the poll, only 15 percent of respondents in their 20s and 17 percent of those in their 30s viewed the government's real estate policy positively, compared with 48 percent among both respondents in their 40s and 50s. Views of the Lee administration's overall direction showed a similar gap, with younger respondents considerably less positive than people in their 40s and 50s. The shift, however, does not necessarily translate into firm support for the conservative opposition. Korea Gallup figures cited for the fourth week of July showed the DP supported by 20 percent of respondents in their 20s and the PPP by 15 percent. The largest group — 58 percent — said they did not support any political party. The unaffiliated share among voters in their 20s had stood at 33 percent in a January survey. Among people in their 30s, support stood at 29 percent for the DP and 26 percent for the PPP. Korea Gallup has cautioned that weekly results broken down by age or region are based on smaller samples than its nationwide figures and should therefore not be interpreted as precise week-to-week trends. Its mid-July survey, for example, put overall support at 40 percent for the DP and 26 percent for the PPP, with 28 percent of respondents nationwide identifying with no party. The figures suggest that voters in their 20s and 30s remain a fluid constituency rather than a reliable support base for either major party, raising the stakes as both sides begin looking toward the 2028 parliamentary elections. "I don't think the difficulties young people face can be solved with just one or two policies. We need good jobs, stable and affordable housing, and a supportive environment for raising children, including parental leave," Rep. Kim Yoon of the DP said. "We also need to strengthen young people's political and policy representation so they can participate more actively in politics and policymaking and have a greater voice in the decision-making process," Kim added. 2026-08-10 14:00:02
  • Chinese Nvidia, Moore Threads, Sees 147% Revenue Growth in First Half of 2026, Plans Hong Kong Listing
    Chinese Nvidia, Moore Threads, Sees 147% Revenue Growth in First Half of 2026, Plans Hong Kong Listing Moore Threads (摩爾線程), known as the "Chinese Nvidia," reported a 147% increase in revenue for the first half of 2026 compared to the same period last year, continuing its rapid growth. As China accelerates its efforts to build a domestic AI computing ecosystem in response to U.S. sanctions, Moore Threads is also pursuing a listing on the Hong Kong Stock Exchange to enhance global fundraising and research and development investments.According to the South China Morning Post (SCMP), Moore Threads announced its plans for a Hong Kong listing on the evening of August 9 through a disclosure on the Shanghai Stock Exchange. The company stated that the listing would deepen its internationalization strategy, secure top research and development talent, and strengthen its corporate governance and core competitiveness. However, it added that discussions with relevant parties are ongoing, and specific details regarding the listing method and timeline will be finalized later.Moore Threads successfully debuted on the STAR Market, often referred to as China's Nasdaq, at the end of last year. Following its listing, the stock price surged, exceeding eight times the initial offering price of 114.28 yuan within just five trading days. This increase is attributed to heightened market expectations for the company as a representative of China's AI chip localization strategy amid tightening U.S. export controls on AI semiconductors.The move to pursue a dual listing in Hong Kong is seen as a strategy to secure funding in response to the growing demand for Chinese AI computing. Notably, Hong Kong offers greater accessibility for global institutional investors and foreign capital compared to the mainland market, which is expected to help Moore Threads expand its base of overseas investors and enhance its recognition in the global market.Guo Tao, a representative of the China Artificial Intelligence Association and an angel investor, told SCMP, "Listing in Hong Kong, a global capital hub, will attract sustained interest from foreign sovereign wealth funds and global technology research institutions. This could significantly elevate Moore Threads' status in the global industry."Guo estimated that following the Hong Kong listing, the company's valuation could reach between 150 billion and 170 billion yuan (approximately $23.3 billion). This is lower than its current market capitalization of about 281 billion yuan on the Shanghai Stock Exchange. Analysts suggest that while mainland investors place significant importance on policy expectations regarding AI independence and localization, global investors may focus more on cash flow, profitability, and product commercialization achievements.Moore Threads is considered one of the key beneficiaries of China's AI semiconductor independence. Like Nvidia, it develops high-performance GPUs across a range of products while also investing in software and developer ecosystem development. The company's GPUs have gained attention as they are included in the Chinese government's list of technologies related to localization, alongside major Chinese AI semiconductor firms such as Huawei, MetaX, T-head, Haiguang, and Birun Technology.Driven by the increasing demand for AI computing, Moore Threads has seen rapid improvements in its performance. In its report for the first half of the year, the company announced that its revenue reached 1.736 billion yuan, a 147% increase compared to the same period last year, nearly 2.5 times larger than the previous year.Profitability has also significantly improved. The net loss for the first half of the year was 11.5631 million yuan, down over 95% from a loss of 271 million yuan in the same period last year. As revenue grows rapidly, the company is moving closer to breaking even.Notably, the revenue for the first half of the year has already achieved about 65% of the annual revenue forecast of 2.68 billion yuan set by global investment bank JP Morgan in April. JP Morgan projects that Moore Threads' annual revenue could increase to 4.69 billion yuan next year.* This article has been translated by AI. 2026-08-10 13:48:10