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Coway's overseas business powers double-digit revenue growth SEOUL, August 08 (AJP) - South Korean home appliance rental company Coway reported double-digit revenue growth in the second quarter, driven by robust overseas demand and steady sales of premium products in its home market. Revenue rose 14.6 percent from a year earlier to 1.44 trillion won ($1.04 billion) in the April-June quarter, while operating profit increased 4.3 percent to 253.2 billion won, according to the company. First-half revenue climbed 13.9 percent to 2.77 trillion won, with operating profit rising 11.1 percent to 504.1 billion won. International operations remained Coway's strongest growth engine, with overseas revenue surging 24.2 percent year-on-year to 587.5 billion won. Malaysia, the company's largest overseas market, generated 434.5 billion won in quarterly revenue, while sales also increased in the United States, Thailand and Indonesia. Domestic revenue rose 7.7 percent to 786.8 billion won, supported by strong demand for premium products including ice water purifiers and BEREX beds and massage chairs. Net additions of domestic rental accounts increased 51.6 percent from a year earlier to 242,000 during the quarter. Coway said it plans to strengthen its position in the premium home wellness market and diversify its product portfolio to sustain growth in the second half of the year. "Our strong sales momentum and expanding rental account base at home and abroad once again demonstrated the resilience of our business in the second quarter," Chief Financial Officer Kim Soon-tae said in a statement. He said the company would continue expanding its premium product lineup and growth drivers in the second half. 2026-08-08 17:48:47 -
Naver begins monetizing AI as Kakao prioritizes ecosystem over near-term revenue SEOUL, August 08 (AJP) - South Korea's two largest internet platforms are taking increasingly different approaches to monetizing artificial intelligence, with Naver beginning to generate new advertising revenue from AI-powered search while Kakao focuses on building an AI agent ecosystem before pursuing meaningful revenue growth. Naver said its AI services are already contributing to advertising revenue after integrating sponsored content into AI-powered search features such as AI Briefing and AI Tab, allowing the company to monetize search areas that previously generated little or no advertising income. Speaking during the company's second-quarter earnings call, Chief Executive Choi Soo-yeon said generative AI had begun creating new advertising inventory rather than replacing existing search ads. The company said AI Tab has surpassed 10 million users, with more consumers using conversational AI to search for products, restaurants and services. Naver expects AI to improve purchase conversion rates by better understanding user intent and connecting searches with shopping and reservation services. The strategy allows Naver to leverage its existing search traffic and advertiser base to generate AI-related revenue without introducing an entirely new business model. However, the company continues to face rising AI infrastructure costs as it expands investment in data centers and computing capacity. Despite a 16 percent increase in second-quarter revenue, operating profit edged down as higher depreciation and infrastructure spending weighed on earnings. Kakao, meanwhile, is taking a longer-term approach. Rather than focusing on immediate AI monetization, the company said it is building an AI agent platform capable of connecting users with third-party services through KakaoTalk. The platform is designed to allow AI assistants not only to answer questions but also to complete tasks such as restaurant reservations, shopping and payments by linking directly with external partners. During its second-quarter earnings call, Chief Executive Chung Shin-a said Kakao aims to establish the foundation for mass adoption of its AI services by the end of this year, with meaningful monetization expected to begin in 2027. Chief Financial Officer Shin Jong-hwan also said AI investment currently precedes revenue generation, reflecting the company's focus on expanding partnerships and user adoption before commercializing AI services. The contrasting strategies highlight two different paths toward AI commercialization: Naver is seeking faster returns by embedding AI into its established advertising business, while Kakao is betting that AI-driven transactions and third-party services will become its primary revenue engine over the longer term. 2026-08-08 16:42:51 -
Weather Forecast: Heat Continues Nationwide with Heavy Rain on the East Coast On Sunday, August 9, the heat will persist across the country, with rain expected primarily in the eastern coastal regions of Gangwon and Gyeongbuk, as well as in Gyeongnam and Jeju Island.According to the Korea Meteorological Administration on August 8, the morning low temperatures on August 9 are forecasted to range from 21 to 26 degrees Celsius, while daytime highs are expected to reach between 26 and 35 degrees Celsius. Most areas nationwide will experience above-average temperatures, with heat waves and tropical nights continuing.In the afternoon, scattered showers are likely in parts of Chungbuk, eastern Jeonbuk, and the southern inland areas of Daegu and Gyeongbuk.Thunderstorms and strong winds may accompany the rain in some areas. Notably, heavy rainfall is anticipated in the eastern coastal and mountainous regions of Gangwon, as well as in the northeastern mountainous areas of Gyeongbuk, necessitating caution.Expected rainfall amounts include 50 to 100 mm in the eastern coastal and mountainous regions of Gangwon, with some areas receiving over 150 mm. The northeastern coastal and mountainous areas of Gyeongbuk are forecasted to see 30 to 80 mm, with some locations exceeding 120 mm. The southern coastal areas of Gyeongbuk are expected to receive 20 to 60 mm, while the inland areas of Busan, Ulsan, and central-eastern Gyeongnam may see 5 to 40 mm. In Jeju, mountainous and mid-level areas are expected to receive 20 to 70 mm, while coastal areas may see 5 to 30 mm.For the time being, high waves caused by swells may crash strongly onto beaches or overtop coastal rocks and breakwaters.Wave heights are predicted to be 1.0 to 3.5 meters in the East Sea, 0.5 to 2.0 meters in the West Sea, and 0.5 to 2.5 meters in the South Sea. In the open sea, wave heights are expected to reach 1.0 to 3.5 meters in the East Sea, 1.0 to 5.0 meters in the West Sea, and 1.5 to 4.0 meters in the South Sea.* This article has been translated by AI. 2026-08-08 16:08:10 -
Gas Prices Drop for 12th Consecutive Week, Remain Above 1800 Won per Liter Gas prices at nationwide stations have fallen for the 12th consecutive week. However, both gasoline and diesel prices remain high, staying above 1800 won per liter.According to the Korea National Oil Corporation's oil price information system, Opinet, the average selling price of gasoline at nationwide gas stations for the first week of August (August 2-6) decreased by 2.9 won from the previous week to 1866.2 won per liter.Regionally, Seoul had the highest price, dropping 1.0 won to 1909.1 won, while Daegu recorded the lowest price, down 3.8 won to 1840.6 won.By brand, GS Caltex had the highest gasoline price at 1869.2 won per liter, while discount gas stations offered the lowest price at 1858.0 won.Diesel prices also saw a decline, with the average selling price at nationwide gas stations falling by 3.6 won to 1849.2 won per liter.International oil prices have also been on a downward trend, attributed to growing expectations surrounding negotiations between the U.S. and Iran regarding shipping through the Strait of Hormuz.The price of Dubai crude, a benchmark for imported crude oil, fell by $1.4 to $79.5 per barrel. International gasoline prices dropped by $11.0 to $104.6, while international diesel prices decreased by $10.3 to $148.2.Changes in international oil prices typically reflect in domestic gas station prices with a delay of about 2 to 3 weeks. Therefore, if the recent trend of declining international oil prices continues, domestic gas prices may also see a downward trend for the time being.Meanwhile, the government is implementing a maximum oil price system to mitigate the impact of international oil price fluctuations on domestic petroleum product prices. The eighth maximum oil price, designated on July 25, remains the same as the seventh, with maximum prices set at 1784 won per liter for gasoline, 1773 won for diesel, and 1380 won for kerosene.* This article has been translated by AI. 2026-08-08 16:00:00
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China's Central Bank Increases Gold Reserves for 21 Consecutive Months The People's Bank of China, the country's central bank, has continued to increase its gold reserves for the 21st consecutive month.According to Yonhap News Agency, as of the end of July, the central bank's gold reserves rose by 640,000 ounces (approximately 19.9 tons) from the previous month, reaching a total of 76.08 million ounces. This marks the largest monthly increase since October 2023.The People's Bank has been increasing its gold reserves monthly since November 2024. This move is interpreted as an effort to reduce dependence on dollar assets and diversify its holdings amid escalating U.S.-China competition.However, the total increase in gold reserves over the past 21 months amounts to 3.28 million ounces (about 102 tons), which is only about one-third of the increase during the previous 18-month streak.Additionally, amid rising volatility in gold prices, the valuation of the gold held by the bank as of the end of July has dropped nearly 20% compared to its peak in February, according to Caixin.Meanwhile, as of the end of July, China's foreign exchange reserves stood at $3.4188 trillion (approximately 4,824 trillion won), reflecting a 0.07% increase from the previous month. Authorities noted that fluctuations in the foreign exchange reserves were influenced by the decline in the U.S. dollar index and changes in global financial asset prices.* This article has been translated by AI. 2026-08-08 15:16:00
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South Korean Prime Minister Inspects Drought and Heat Damage in Cheongdo South Korean Prime Minister Han Seong-sook visited Cheongdo, North Gyeongsang Province, to assess the damage caused by drought and extreme heat.On August 8, Han received a report on drought response measures and water supply strategies at the Unmun Dam in Cheongdo. She urged officials to "actively utilize emergency alternative water sources to ensure water supply is secured."She also instructed that the central and local governments work together to closely monitor water supply conditions and respond proactively to on-site challenges.Han emphasized the need to prepare for any potential emergency water supply situations, ensuring that residents do not face inconveniences by activating water delivery and bottled water provision systems immediately.She noted the possibility of prolonged drought conditions and suggested discussing how to respond meticulously to the worst-case scenarios.Han highlighted the importance of reviewing the overall water supply and management system, including groundwater resources, and urged transparency in communicating water supply situations to the public.* This article has been translated by AI. 2026-08-08 15:08:00
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President Lee: Marriage Should Be a Hopeful New Beginning, Addressing 'Marriage Penalty' President Lee Jae-myung stated on August 8 that the so-called 'marriage penalty,' which puts married individuals at a disadvantage compared to singles in areas such as loans and housing subscriptions, must be addressed. He emphasized, "I will ensure that marriage can be a hopeful new beginning rather than a burden." In a post on X (formerly Twitter), President Lee remarked, "Young people should never hesitate to marry due to national policies. I have instructed a thorough investigation into the institutional disadvantages that may arise from marriage." During a senior aide meeting in February, President Lee also pointed out the 'marriage penalty' related to loans and housing subscriptions, insisting that it must be identified and corrected. He directed his team to report on relevant cases. On this day, President Lee noted, "I have gathered various opinions through youth forums, real estate discussions, and reviews by relevant ministries," adding that 22 priority issues directly affecting housing and asset formation, such as loan and tax regulations, were proposed. The list of '22 Marriage Penalties Identified by Youth Voices' includes easing income requirements for home purchase loans and expanding income criteria for dual-income households under special newborn loan programs. Proposals also included relaxing eligibility requirements for newlywed special housing subscriptions and allowing households with two small homes to apply for subscriptions after marriage. Additionally, there were suggestions to expand exemptions on acquisition tax for dual homeowners and improve tax credit disadvantages related to marriage. President Lee stated, "I will carefully examine whether there are areas that need improvement and whether the proposed solutions can be fair and genuinely helpful to everyone." He added, "I want to listen to the voices of the people and create tangible changes together. If there are any other systems you find unreasonable, please feel free to share your thoughts." * This article has been translated by AI. 2026-08-08 14:12:00
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Kia's PV5 Struggles in Japan with Low Sales Amid High Expectations Kia is facing challenges in the Japanese market, where it has returned after 30 years. The company’s purpose-built vehicle (PBV), the PV5, is struggling to gain traction amid strong local brand loyalty and a well-established infrastructure for Japanese automakers.According to the Japan Automobile Importers Association (JAIA), Kia registered only 16 new vehicles in Japan from January to July this year. The company recorded 7 registrations in June and 9 in July. Previously, Kia had not sold vehicles in Japan, so it did not appear in the statistics.Kia entered the Japanese market with the PBV PV5 in May, marking its first foray since the early 1990s. After withdrawing from Japan in the past, Kia has partnered with the Japanese trading company Sojitz to establish Kia PBV Japan, a wholly-owned subsidiary, to build a local business foundation.However, sales performance in the first two months has fallen short of expectations. Of the 16 vehicles registered, the 7 sold in June were not actually sold to customers; they were registered for display and test drives as part of Kia's efforts to establish a sales system in the region.Similarly, some of the 9 vehicles registered in July were likely used for business purposes, as Kia PBV Japan began operations on May 15 and is in the process of opening additional direct dealerships. Consequently, actual customer sales have remained in single digits over the past two months, indicating that Kia's re-entry into the Japanese market is facing more difficulties than anticipated.There is a significant possibility that Kia will not meet its initial sales target set for its return to Japan. Kia PBV Japan aims to sell 1,000 units in the 2026 fiscal year. To achieve this, at least 984 more vehicles must be registered by March of next year, according to Japan's fiscal calendar. At the current pace, additional sales are unlikely to reach even 100 units.The key challenge is whether Kia can establish a unique ecosystem in the local market. Japan is known for its strong consumer preference for domestic brands, and local automakers like Toyota, Honda, and Nissan have robust sales and service networks, making it difficult for foreign brands to penetrate the market. Therefore, Kia's differentiation strategy and securing a local distribution network are crucial.In response, Kia is expected to focus on expanding its market presence. The company plans to broaden its lineup beyond the current PV5 passenger and cargo models to meet diverse consumer needs. Additionally, the IAA Commercial Vehicles 2026 show in Hanover, Germany, is set for September, where Kia is expected to unveil its next-generation PBV, the PV7, which could enhance interest in PBVs in the Japanese market.* This article has been translated by AI. 2026-08-08 14:04:00
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OpenAI delays Astra rollout as safety review flags potential cyber risks SEOUL, August 08 (AJP) - OpenAI has delayed the development and rollout of its next-generation artificial intelligence model, Astra, after internal safety testing indicated it could pose heightened cybersecurity risks due to its advanced coding capabilities. The company said on Saturday that Astra could qualify for its highest internal risk classification, "Critical," following preliminary safety evaluations that found the model performed significantly better than existing systems in coding and cybersecurity tasks. According to OpenAI, the "Critical" category applies to AI systems that could identify and exploit zero-day software vulnerabilities across multiple high-security systems without human intervention, or independently plan and execute sophisticated cyberattacks once given a broad objective. The company said testing of Astra remains ongoing, and no final risk classification has been assigned. However, preliminary results suggested the model's cyber capabilities were stronger than expected, prompting OpenAI to suspend some internal development and operational activities while additional safety assessments are conducted. The decision comes amid growing scrutiny over the cybersecurity implications of increasingly capable AI models. OpenAI said recent incidents involving advanced AI systems have highlighted the need for stronger safeguards before deploying more powerful models. Last month, reports emerged that several AI systems, including OpenAI's GPT-5.6 Sol, demonstrated autonomous cyberattack capabilities by compromising external platforms during controlled testing, raising fresh concerns over AI safety. Similar behavior has also been observed in recent evaluations of models developed by other leading AI companies, including Anthropic's Claude, Meta's Muse Spark and Moonshot AI's Kimi, according to the company. OpenAI has increasingly emphasized safety evaluations alongside performance gains as competition intensifies among developers seeking to build more capable frontier AI models. The company said Astra will undergo further testing before any decision is made on its public release. 2026-08-08 13:59:45 -
Lack of Signature Tomato Dishes at Hwacheon Tomato Festival Raises Concerns 강원 화천토마토축제가 올해 기존 3일에서 10일로 기간을 크게 늘리며 변화를 시도하고 있지만, 정작 축제의 주인공인 토마토를 활용한 대표 먹거리가 부족하다는 지적이 나오고 있다. 지난달 31일 개막 이후 지난 7일까지 화천군 사내면 사내체육공원 일원의 축제 현장을 여러 차례 둘러본 결과, 특산물 판매장에서는 생토마토를 구입할 수 있고 토마토 주스도 판매되고 있었다. 축제장 주변에서도 토마토를 살 수 있었다. 하지만 관광객이 식사나 간식으로 즐기면서 ‘토마토축제에 왔다’는 것을 체감할 만한 특화 음식은 쉽게 찾아보기 어려웠다. 토마토는 소스와 샐러드, 볶음 등 다양한 음식에 활용할 수 있고 지역 농·축산물과도 접목할 수 있어 축제 대표음식으로 발전시킬 여지가 크다. 남양주에서 온 조모씨는 “축제를 즐기는 재미는 있는데 토마토의 맛을 제대로 느껴볼 수 있는 먹거리가 부족해 아쉽다”며 “이곳에서만 맛볼 수 있는 음식이 있었으면 좋겠다”고 말했다. 경기 동탄에서 가족과 함께 온 한모씨도 “축제장에서 토마토와 연관된 음식을 제대로 먹어보기 힘들었다”며 “평소 먹던 음식이어서 토마토축제가 열리는 지역만의 특별함을 느끼기 어려웠다”고 말했다. 지역에서도 비슷한 목소리가 나온다. 사내면의 한 사회봉사단체장은 “축제 기간이 늘어나고 행사장이 여유로워져 편하게 즐길 수 있다는 반응이 많다”며 “반면 음식은 평소 접하는 것과 크게 다르지 않다는 의견도 있었다. 보고 즐기는 것만큼 무엇을 먹고 기억하느냐도 중요하다고 느꼈다”고 말했다. 구연원 한국폴리텍대학 경영학 박사는 “화천토마토축제는 토마토를 소재로 다양한 이벤트를 개발해 인지도를 높여왔다”며 “지속적인 발전을 위해서는 지역 토마토와 농특산물을 조합한 음식 개발이 필요하다”고 말했다. 이어 “화천의 다양한 농산물과 임산물을 활용한 음식이 개발된다면 볼거리와 즐길거리, 먹거리가 어우러진 축제로 발전하고 농가에도 도움이 될 수 있다”고 강조했다. 지역 음식 장인들을 활용하자는 제안도 나온다. 사내면 이장협의회 관계자는 “마을마다 음식 솜씨가 뛰어난 주민들이 있다”며 “이들과 함께 토마토뿐 아니라 된장과 두부, 한과 등 지역 먹거리를 관광자원으로 키워 관광객이 음식을 맛보고 자연 속에서 쉬어갈 수 있는 구조를 만들었으면 한다”고 말했다. 올해 축제는 민선 9기 김세훈 화천군수 취임 이후 처음 열렸다. 지난달 31일 개막해 오는 9일까지 이어진다. 기존 3일에서 10일로 기간을 대폭 늘려 관광객의 체류와 소비를 지역소득으로 연결하려는 새로운 시도다. 준비기간이 충분하지 않았지만 축제장이 넓어지고 기간이 늘어나면서 이전보다 여유롭게 행사를 즐길 수 있게 됐다는 긍정적인 평가도 나온다. 관건은 늘어난 축제 기간을 실질적인 지역소득으로 얼마나 연결하느냐다. 토마토를 판매하고 체험행사에 활용하는 데서 나아가 지역 농·축·임산물과 결합한 음식을 개발하고 이를 지역 음식점의 상시 메뉴로 정착시킨다면 축제 이후에도 소비를 이어갈 수 있다. 농가와 음식점, 지역 음식 장인이 함께 참여해 ‘화천에서만 맛볼 수 있는 음식’을 만드는 전략이 필요한 이유다. 화천군도 먹거리 보완 필요성을 인식하고 있다. 화천군 관계자는 “그동안 관광객과 주민들 사이에서 토마토와 관련한 먹거리가 부족하다는 이야기가 있었다”며 “올해는 축제 기간을 확대하는 과정에서 준비기간이 짧았던 측면도 있다”고 말했다. 이어 “이번 축제를 통해 나온 주민과 관광객들의 평가를 살펴 앞으로 볼거리와 즐길거리, 먹거리가 더욱 풍성한 축제로 발전할 수 있도록 준비하게 될 것”이라고 밝혔다. 올해 ‘10일 토마토축제’가 축제의 외연을 넓히는 도전이었다면, 이제는 토마토와 지역 농특산물을 활용한 대표 음식을 만들어 관광객의 소비를 농가와 상권의 소득으로 연결하는 것이 다음 과제로 떠오르고 있다.* This article has been translated by AI. 2026-08-08 13:52:00