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  • Koo Yong-hoo of Kolon Group Demonstrates Management Skills with Strong Performance
    Koo Yong-hoo of Kolon Group Demonstrates Management Skills with Strong Performance Koo Yong-hoo, vice chairman of Kolon Group, has demonstrated his management capabilities by leading strong performances in key subsidiaries just three years after taking the helm. The restructuring strategy he has implemented is expected to bolster his succession efforts.According to the Financial Supervisory Service's electronic disclosure system on August 7, Kolon Industries reported consolidated sales of 1.3565 trillion won and an operating profit of 98.7 billion won for the second quarter of this year. Compared to the same period last year, sales increased by 7.8% and operating profit surged by 118%. From the previous quarter, sales rose by 9.6% and operating profit grew by 59.5%.This performance is seen as a reflection of the results from the restructuring strategy Koo has pursued in recent years. Since taking full control of the group in 2023, he has focused on streamlining low-profit or overlapping businesses and restructuring the portfolio around advanced materials and future growth sectors.Notable restructuring examples include the full integration of Kolon Mobility Group, the merger of Kolon Industries and Kolon ENP, the consolidation of Kolon Global with MOD·Kolon LSI, and the launch of Kolon Spaceworks.Particularly significant is the merger of Kolon ENP completed in April, which strengthened the business portfolio centered on high-value materials. This merger added engineering plastics to the existing industrial materials and chemicals business, laying the groundwork for long-term competitive strength.Industry insiders believe that this improvement in performance will positively impact Koo's succession plans. While Koo is regarded as the de facto sole heir within the group, he does not yet hold shares in Kolon Corporation, the key to the group's control. The group's honorary chairman, Lee Woong-yeol, stated in 2018 upon his retirement that he would not pass on any shares unless Koo proved his management capabilities. Currently, Lee holds more than 50% of Kolon Corporation's shares.Securing a basis for succession through performance improvement is seen as Koo's primary challenge for this reason. However, demonstrating results has not been easy. Since stepping into management, the group's scale has steadily expanded, but profitability improvements have not met expectations due to sluggish petrochemical market conditions and a downturn in the construction sector. There have been concerns that the effects of restructuring have only contributed to growth in scale.Thus, the second-quarter results are significant as they alleviate some market concerns. However, challenges remain, including the global economic slowdown, delayed recovery in the petrochemical sector, and the burden of expanding investments in future growth businesses. The substantial inheritance and gift tax liabilities arising from the share transfer process are also seen as a key variable in the upcoming succession process.An industry source noted, "It is true that there have been criticisms regarding slow profitability improvements compared to growth in scale. While this performance is meaningful in that it shows the effects of rebalancing, Koo must continue to deliver stable results and demonstrate structural profitability improvements going forward."* This article has been translated by AI. 2026-08-07 18:00:20
  • President Lee Declares Special Disaster Areas in Andong and Uiseong Due to Heavy Rain Damage
    President Lee Declares Special Disaster Areas in Andong and Uiseong Due to Heavy Rain Damage 이재명 대통령은 7일 경상북도 안동시와 의성군 관할 4개 면을 호우 피해 특별재난지역으로 선포했다.강유정 청와대 수석대변인은 이날 서면 브리핑을 통해 “이 대통령은 이날 오후 5시경 지난달 8일부터 24일까지 이어진 호우로 인해 큰 피해가 발생한 경상북도 안동시와 의성군 관할 4개 면을 특별재난지역으로 선포했다”고 밝혔다.특별재난지역으로 선포된 지역은 재난 복구를 위한 국비가 추가로 지원되고, 피해 주민에 대해서도 국세·지방세 납부 유예, 공공요금 감면 등이 추가로 지원된다.정부는 "빠른 시일 내 복구계획을 확정하여, 피해지역 주민이 조속히 일상으로 복귀할 수 있도록 적극 노력할 계획이다"고 전했다. * This article has been translated by AI. 2026-08-07 18:00:00
  • Controversy Erupts Over Lawmakers Bus House Proposal for Housing
    Controversy Erupts Over Lawmaker's 'Bus House' Proposal for Housing Rep. Hwang Hee, a three-term member of the Democratic Party and part of the National Land and Transportation Committee, has sparked significant controversy online with his proposal for a so-called 'Bus House.'On August 7, Hwang shared on Facebook that he had seen numerous boat houses along the canals in Amsterdam, Netherlands, and suggested implementing a similar concept in South Korea with bus houses.He estimated that remodeling costs could be around 50 million won (approximately $38,000) per unit, totaling about 500 billion won (around $380 million) for 10,000 units. He proposed designing mobile bus houses that could be driven by residents or trailer-type bus houses that could be moved by external vehicles.Hwang noted that the government's housing supply policy heavily relies on the private sector, which can slow down progress. He argued that these bus houses could serve as temporary living spaces for young people until they secure stable housing, highlighting the potential for rapid deployment.However, the post quickly drew harsh criticism on social media.Users reacted with comments such as, 'Better than a drum, at least it has good lighting,' and 'Is this how they view the 2030 generation?' Others questioned the feasibility of the proposal, with one user stating, 'If the goal is to supply 10,000 units for 500 billion won, just build real houses.'One particularly scathing comment read, 'If you ask your daughter to live in one, I bet you’ll turn red and say to leave the family out of it,' reflecting a cynical view of what they termed the Democratic Party's populist policies.Members of the ruling party also criticized the proposal, calling it an insult to young people. Park Chung-kwon, a spokesperson for the People Power Party, condemned it as a simplistic and misguided idea that would turn young people into 'refugees on the road,' urging Hwang to set an example by being the first resident of the proposed bus house.* This article has been translated by AI. 2026-08-07 18:00:00
  • A tale of two Koreas: one learns war, the other stumbles at the border
    A tale of two Koreas: one learns war, the other stumbles at the border SEOUL, August 07 (AJP) - North Korea is gaining first-hand experience in drones, artillery and ballistic missiles on the battlefields of Ukraine while South Korea's front-line forces are confronting failures in something more basic: loaded weapons, reporting and command. The contrast is sharpening as Pyongyang expands military cooperation with Russia and continues developing its nuclear and missile arsenal, while Seoul investigates why some troops guarding the world's most heavily fortified border stood watch without ammunition loaded into their weapons and how a U.S. military drone taking part in a joint exercise was nearly mistaken for a hostile aircraft. The stakes rose again Thursday when North Korea fired a short-range ballistic missile from the Wonsan area toward the East Sea, its 10th ballistic missile launch this year, according to South Korea's Joint Chiefs of Staff. But North Korea is no longer learning only through weapons tests at home. Its involvement in Russia's war against Ukraine has expanded from supplying artillery shells and missiles to sending troops and, more recently, a missile unit. Ukrainian military intelligence said this week that about 90 North Korean personnel had begun deploying to Russia's western Voronezh region and could eventually operate as many as 120 ballistic missiles and six launchers. Ukrainian President Volodymyr Zelenskiy has also said Russia may be preparing to receive another 30,000 North Korean troops. The size of any additional deployment has not been independently confirmed. North Korean troops have already gained combat experience in and around Russia's Kursk region, exposing them to a battlefield shaped by drones, electronic warfare, artillery and rapidly changing Western and Russian tactics. For Pyongyang, that amounts to an opportunity few militaries receive: testing soldiers, weapons and tactics against an experienced opponent in an actual war. Rep. Jin Seong-joon, a ruling Democratic Party lawmaker who chairs the National Assembly's National Defense Committee, said Seoul should treat the change seriously. "North Korea is strengthening its alliances with Russia and China while learning and training for modern warfare through its deployment to the war in Ukraine," Jin told AJP. South Korea must revise its operational plans and training for the changing battlefield, he said, while ensuring that basic border security does not suffer in the process. "There must never be complacency or negligence in the existing border security posture," Jin said. Rep. Hwang Myung-sun, another Democratic Party member of the committee, called North Korea's battlefield exposure a "qualitative transformation." "This is not simply an expansion of conventional military strength but a qualitative leap in its ability to conduct modern warfare," Hwang said. The concern is not that North Korea will simply copy Russian tactics. Its troops are also observing Ukrainian forces employing drones, Western weapons and new methods of combining reconnaissance, targeting and artillery. Any Russian transfer of military technology would add another layer to what Pyongyang can bring home. South Korea, meanwhile, is examining a series of lapses along its western front. The Army's 1st Corps changed instructions earlier this year so that ammunition was kept outside K6 heavy machine guns and K4 automatic grenade launchers used at general outposts and guard posts near the Demilitarized Zone. Inspections subsequently found some troops standing guard without ammunition loaded into K2 rifles and other individual weapons, although ammunition was carried separately. The military has since ordered front-line units to comply with ammunition-loading requirements. Defense Minister Ahn Gyu-back relieved 1st Corps commander Lt. Gen. Han Ki-sung of his duties on Aug. 3 as investigations continued. Hwang said the case went beyond one commander. "It is a structural problem," he said. "Defects that accumulated in the field command system under the name of customary practice have now surfaced." A separate episode raised questions about communication between South Korean and U.S. forces. During a Korea Marine Exercise Program drill on July 30, a U.S. Marine Corps fixed-wing reconnaissance drone flew near Story Range in Paju, about 3.7 kilometers south of the Military Demarcation Line. South Korean forces identified it as an unknown aircraft and prepared for a possible shootdown. The U.S. side had notified a South Korean 1st Corps working-level officer of the flight by text message the previous day, according to a JCS inspection. The message never moved up the command chain. Investigators also found that formal airspace and flight approval procedures had not been properly completed. Rep. Kim Dai Sik of the conservative People Power Party said the ammunition and drone cases exposed failures both inside the Korean military and in combined operations. "Internally, the command and reporting system failed, while externally, procedures for South Korea-U.S. coordination failed," Kim said. "The problem was not that the South Korea-U.S. alliance is weak. It arose because a strong alliance was operated loosely." Rep. Koh Dong-jin, another PPP lawmaker, said the underlying weakness was a military culture in which procedures established at headquarters were not always followed in the field and critical information failed to reach commanders. For Seoul, those failures are emerging just as it pours more money into the technologies transforming warfare elsewhere. South Korea's 2026 defense budget totals 65.86 trillion won ($46.5 billion), including nearly 20 trillion won for defense capability improvement. The military is also moving to acquire more than 20,000 low-cost combat drones and train some 500,000 personnel in drone operations as it tries to absorb lessons from Ukraine and other recent conflicts. Koh said Seoul should focus investment not on matching North Korea weapon for weapon but on capabilities that can neutralize Pyongyang's asymmetric strengths, including nuclear weapons, missiles, drones and special operations forces. Artificial intelligence, advanced semiconductors and unmanned systems should take a larger role, he said, while South Korea and the United States repeatedly train for nuclear contingencies and the integration of Korean conventional forces with U.S. strategic assets. Rep. Cheon Ha-ram of the Reform Party also said the Ukraine war was giving North Korea access to the "cutting edge of modern warfare," particularly drone operations. But he argued that no amount of advanced equipment could compensate for weakened fundamentals at the front. "The 1st Corps' unloaded-weapon guard posture shows a situation in which the objectives of front-line units have become distorted into 'avoiding accidents' and 'not provoking North Korea,'" Cheon said. Lawmakers differed over why the failures occurred and how Seoul should approach Pyongyang. They agreed more readily on the danger. North Korea is returning from Russia with experience that cannot be acquired on a training ground. Its troops are learning how drones, missiles, artillery and electronic warfare work when an enemy shoots back. South Korea is also trying to learn from Ukraine, investing in drones, artificial intelligence and manned-unmanned warfare. But its recent problems carry a simpler lesson. Modern warfare may depend increasingly on algorithms, drones and precision weapons. Front-line defense still depends on weapons being ready, orders being followed and the right information reaching the right commander in time. 2026-08-07 17:56:03
  • HMM continues talks on long-term bulk shipping contract
    HMM continues talks on long-term bulk shipping contract SEOUL, August 07 (AJP) - HMM said Friday it is continuing negotiations over a long-term bulk shipping contract and is currently discussing remaining details with the counterparty. In a regulatory filing responding to recent media reports, the South Korean shipping company said it has been in talks to finalize the contract but that no specific terms have yet been confirmed. HMM said it will make another disclosure once concrete details are finalized or within three months. The next disclosure is scheduled for Nov. 6. Media reports last month said HMM was seeking a 25-year dedicated shipping contract with Brazilian mining giant Vale. The reports also said HMM had ordered eight bulk carriers worth about 1.3 trillion won ($917 million) for use under the proposed contract and could generate around 4 trillion won in additional revenue if the deal is completed. HMM responded to the reports in a July 9 filing, saying discussions related to the contract were underway but that no decision had been made on whether an agreement would ultimately be signed. In its latest filing, the company said negotiations with the counterparty have continued and that the two sides are now discussing several remaining details, while stressing that the final terms of the contract have not yet been determined. 2026-08-07 17:50:50
  • South Korea and Taiwan Surpass Japan in Export Rankings for the First Time
    South Korea and Taiwan Surpass Japan in Export Rankings for the First Time South Korea and Taiwan have surpassed Japan in export amounts for the first time in history during the first half of this year. The surge in demand for artificial intelligence (AI) semiconductors has led to nearly 50% increases in exports from both countries, which possess advanced semiconductor production capabilities. While Japan has also benefited from the AI boom through semiconductor manufacturing equipment and materials, it has fallen behind South Korea and Taiwan in the rapidly growing advanced semiconductor market.The Nikkei reported on August 7, based on trade statistics from South Korea, Japan, and Taiwan, combined with data from the Japan External Trade Organization (JETRO) and the UN Comtrade database, that South Korea's exports from January to June reached $496.3 billion, exceeding Japan's $384.4 billion by $111.9 billion. Taiwan's exports also amounted to $416.6 billion, surpassing Japan by $32.2 billion. Although Japan's exports increased by nearly 10% compared to the same period last year, South Korea and Taiwan both recorded close to 50% growth, allowing them to overtake Japan.The driving force behind the export increases for South Korea and Taiwan has been AI semiconductors. In Taiwan, TSMC, the world's largest foundry, leads advanced semiconductor production. In South Korea, Samsung Electronics and SK Hynix supply advanced semiconductors, including memory for AI accelerators.In the first half of this year, South Korea's integrated circuit (semiconductor) exports reached $149 billion, while Taiwan's were $133.2 billion. Both countries saw integrated circuits account for about 30% of their total exports. Notably, South Korea's integrated circuit exports alone surpassed its total for the previous year. In contrast, Japan's integrated circuit exports were only $21.2 billion, just one-seventh of South Korea's, and accounted for only about 5% of its total exports.However, Japan's semiconductor industry still has strengths. Companies like Tokyo Electron, Advantest, and Lasertec hold significant global market shares in semiconductor manufacturing equipment. Japan has benefited from supplying equipment and materials for the expansion of semiconductor production facilities worldwide, capitalizing on increased AI investments.In fact, Japan's semiconductor manufacturing equipment exports in the first half of this year reached $15 billion, far exceeding South Korea's $5.2 billion and Taiwan's $3.5 billion. However, it has not been able to close the gap with South Korea and Taiwan, which are directly producing high-value final products, namely advanced semiconductors. This reflects the current state of Japanese manufacturing, which is unable to sufficiently supply the desired finished products to the global market.Kenta Maruyama, a researcher at Mitsubishi UFJ Research and Consulting, pointed out, "Even if global semiconductor exports increase, it is difficult for exports of parts, materials, and equipment to rise sharply."The record depreciation of the yen has also contributed to Japan's export figures appearing smaller in dollar terms. When the yen's value falls, the dollar-denominated export amount decreases even if the yen-denominated amount remains the same. However, the South Korean won and the Taiwanese dollar have also shown weakness against the dollar, making it difficult to attribute South Korea and Taiwan's overtaking of Japan solely to exchange rate factors, as noted by the Nikkei.This outcome should not be viewed merely as a temporary shift in rankings due to the AI boom. Japan's export quantity index, which reflects actual export volume changes excluding price fluctuations, peaked before the global financial crisis and has remained stagnant in recent years.Japan's global export ranking has also declined over the long term. According to JETRO, Japan was the world's third-largest exporter from the 1970s to the 1990s, following the United States and Germany, but fell to fourth place in the 2000s behind China. It subsequently dropped to sixth place last year, trailing trade hubs like the Netherlands and Hong Kong.Since World War II, Japan has grown into a trade powerhouse centered on manufacturing by exporting goods in high demand globally, such as textiles, steel, automobiles, and electronics. However, in the wake of digital transformation, it has struggled to find new key export products to lead the global market. While global tech giants invest heavily in advanced AI development, South Korea and Taiwan have significantly increased their exports based on their semiconductor production capabilities. If Japan fails to secure new key export products that surpass its competitiveness in equipment and materials, the export gap with South Korea and Taiwan may persist even after the AI boom subsides.* This article has been translated by AI. 2026-08-07 17:48:00
  • Ansan City Corporation Achieves Top Rating in National Local Public Enterprise Evaluation
    Ansan City Corporation Achieves Top Rating in National Local Public Enterprise Evaluation The Ansan City Corporation has once again demonstrated its management innovation capabilities by achieving top marks in the national evaluation conducted by the Ministry of Interior and Safety. On August 7, the corporation announced that it received the highest rating of 'A' in the '2026 Local Public Enterprise Management Evaluation' based on performance from 2025. In this evaluation, the corporation ranked second among 29 city and county public enterprises nationwide, establishing itself as an exemplary institution. The Ministry of Interior and Safety's evaluation comprehensively assesses the previous year's management performance of local public enterprises, categorizing them into five grades from 'A' to 'E.' This year's evaluation focused on the social responsibilities and public service enhancements of local public enterprises, emphasizing national safety, regional coexistence, and public service improvement. The corporation received high marks across all areas of management and performance. Notably, it was recognized for strengthening social responsibility through ESG-based strategic management, ensuring financial soundness, establishing a data-driven performance management system, discovering new revenue sources, and operating a citizen participation governance model. The corporation has also worked to enhance the quality of public services by expanding internal communication and reinforcing systems to incorporate citizen feedback into management. As a result, customer satisfaction increased from 96.4 points last year to 97.07 points, demonstrating its competitiveness in citizen-centered services. The news of this top rating has been positively received in the local community. Citizens have praised the corporation for evolving beyond mere facility management to become a public institution that enhances convenience and safety in daily life. There is also an expectation for continued service improvements aligned with citizen needs and ongoing contributions to regional development. A corporation official stated, “This achievement is the result of the efforts of all employees toward management innovation and the support and interest from the citizens. We will continue to be a corporation that contributes to improving quality of life and regional development based on data-driven management and communication with citizens.”* This article has been translated by AI. 2026-08-07 17:48:00
  • Eight South Koreans Wanted by Interpol Arrested in Vietnam
    Eight South Koreans Wanted by Interpol Arrested in Vietnam South Korean individuals wanted by Interpol are being arrested in Vietnam and extradited to South Korea. Evidence has emerged that an online fraud ring, previously operating from Cambodia, relocated to Vietnam to evade law enforcement. South Korean fugitives facing charges of illegal gambling, voice phishing, and investment fraud have also been apprehended by local authorities.According to the police in Bac Ninh Province, on August 5 and 6, eight South Koreans subject to Interpol red notices were handed over to South Korean authorities at Hanoi's Noi Bai International Airport. The transfer involved the criminal investigation office under the Bac Ninh police, the immigration department, the mobile police unit, and the Ministry of Public Security's international cooperation department.The key figure among the eight is identified as a South Korean national born in 1984. The wanted record indicates that this individual and accomplices operated an online fraud organization in Sihanoukville, Cambodia, from September 2024 to March 2026. Their targets included businesses, restaurants, and retail stores in South Korea. They allegedly posed as buyers and sellers to gain victims' trust, convincing them to send deposits and then stealing the money. The international wanted notice lists 28 victims, with losses exceeding 1 billion won.Domestic authorities have determined that the actual scale of the fraud is larger than indicated in the wanted notice. They estimate that the organization defrauded 619 South Korean victims of over 17.7 billion won. The Seoul District Court requested the issuance of an Interpol red notice for these eight individuals.The presence of these fugitives in Vietnam was detected in March during a residence management process by the Bac Ninh police. They, along with the immigration office, identified suspicious living conditions and potential illegal activities of the eight South Koreans residing in a five-story house in Bac Ninh's Haphin District. During an on-site inspection, violations of residency reporting and equipment suspected to be used for online crimes were discovered. The police confirmed that none of the eight had reported their temporary residence. The house contained nine computers, six tablets, three USB drives, and 13 mobile phones.Fugitives Move to Vietnam Amid Crackdown in CambodiaThe increased enforcement in Cambodia has been identified as a reason for the fugitives' relocation. Vietnamese authorities believe that, following a crackdown by Cambodian authorities on fraud organizations, these individuals requested their 'boss' to allow them to move to Vietnam for continued operations.Identification was carried out in cooperation with South Korean authorities. After confirming their illegal activities, the Bac Ninh police requested support from relevant departments within the Ministry of Public Security and sought verification from the South Korean embassy in Vietnam and the Korean National Police Agency. Subsequently, it was confirmed that all eight were subjects of arrest warrants from the Seoul District Court and Interpol red notices.Previously, two other South Korean fugitives were also extradited from Bac Ninh. On the night of April 7, the Bac Ninh police handed over individuals identified as C and O to South Korean authorities at Noi Bai International Airport. Both were confirmed to be subjects of Interpol red notices.C is accused of operating an illegal online horse racing gambling site. According to the wanted record, he provided betting services for horse races in Seoul, Busan, and Jeju, as well as Japanese races, through an illegal betting site named 'Daesang Racing.' From February 8 to November 4, 2024, 277 users reportedly sent over 5.9 billion won to C's accounts. The Suwon District Court issued an arrest warrant on May 14, 2025, and Interpol issued a red notice on September 11 of the same year.O is accused of participating in a telephone financial fraud organization. The wanted record states that he impersonated postal workers, prosecutors, investigators, and financial supervisory officials to deceive victims. From March 23 to April 1, 2025, O and accomplices allegedly defrauded multiple victims of 689 million won. The Uijeongbu District Court issued an arrest warrant on August 19, 2025, and Interpol issued a red notice on September 15 of the same year.The capture of the two occurred in Bac Ninh's Bo Cuong area. Bac Ninh police confirmed in early March that C and O presented passports but lacked visas, raising suspicions of illegal entry. Following this, the Bac Ninh police tracked their whereabouts and apprehended them on April 6 while they were hiding in Bo Cuong. They reportedly admitted to illegally entering Vietnam and moving around various regions.Earlier, President Lee Jae-myung met with leaders from Southeast Asia, including Vietnam, during the APEC summit in Gyeongju last year to strengthen transnational cooperation against the growing scam crimes spreading across Southeast Asia. In December of the same year, a 'Korea Task Force' comprising South Korean and Cambodian police achieved success by arresting South Koreans engaged in criminal activities in Cambodia and rescuing South Koreans who had been held captive.* This article has been translated by AI. 2026-08-07 17:44:00
  • GS Engineering & Construction Signs $3.4 Billion Contract for Busan Redevelopment Project
    GS Engineering & Construction Signs $3.4 Billion Contract for Busan Redevelopment Project GS Engineering & Construction has secured the construction rights for the Sajik 3 District redevelopment project in Busan's Dongnae District, signing a contract worth 408.2 billion won (approximately $3.4 billion). The company announced on August 7 that it signed a construction contract with the Sajik 3 District Redevelopment Association on August 6, with the contract amount excluding value-added tax. This amount represents 3.28% of GS Engineering & Construction's consolidated revenue of 12.45 trillion won last year. The Sajik 3 District redevelopment project will involve the construction of nine residential buildings, totaling 995 units, with three basement levels and 33 floors, located at 411-1 Sajik-dong. The area is noted for its proximity to educational institutions and a subway station, making it a desirable residential location. GS Engineering & Construction was selected as the contractor for the Sajik 3 District redevelopment in September of last year, with the estimated construction cost at that time being around 408.2 billion won. The recent contract formalizes this agreement. Payment for the construction will be made through a 'sales-based' method, where costs are covered by revenue from general sales. There will be no separate contract or advance payment, and the construction period is set for 42 months from the actual start date, which has yet to be determined. Additionally, GS Engineering & Construction ranked third in the construction capability evaluation announced by the Ministry of Land, Infrastructure and Transport last month for the year 2026. The company noted that the contract amount and construction period may change depending on future project developments and contract conditions.* This article has been translated by AI. 2026-08-07 17:44:00
  • Korean ants suffer twice as losses become fake spectacle
    Korean ants suffer twice as losses become fake spectacle SEOUL, August 07 (AJP) - Forty years of savings. Gone. A leveraged bet on SK hynix. A 78.7 percent loss. Some 2.2 billion won ($1.5 million) wiped out. A brokerage screenshot appeared to prove every painful detail. The post, uploaded to local community platform Danggeun on July 30, claimed an investor had gone bankrupt after pouring four decades of savings into a leveraged exchange-traded fund tied to SK hynix. It was devastating…except that it was also fake. The image was doctored. It had been copied from a real post uploaded a day earlier to an investment community run by Toss Securities. Someone multiplied the purchase, sale and loss amounts by 10 while leaving the 78.7 percent loss rate unchanged. “The numbers looked familiar, so I checked again. Someone had added a zero to the image I posted,” the original investor said after the manipulated version began circulating. The claim also failed to match the ETF’s trading history. The poster said the investment had been made shortly after the product’s launch. But an investor who bought at the listing price of 23,450 won and held until the date of the post would have lost about 60 percent. A 78.7 percent decline would have required the ETF to fall to around 5,000 won, a level it had never reached. The fabricated loss nevertheless spread as Korean retail investors were already nursing heavy losses after a sharp reversal in semiconductor and AI stocks. From FOMO to ‘dishwashing’ During the rally, fear of missing out drew investors into stocks that had already surged. After the reversal, another term returned to Korean investment communities: seolgeoji, or “dishwashing.” The slang refers to late investors left with losses after earlier buyers sell at high prices. The expression became widespread during Korea’s 2020–2021 housing boom, when younger buyers borrowed heavily to buy homes near the top of the market. It has now moved into stocks. A recent online post titled “People in their 20s and 30s got stuck doing the dishes in real estate, and now stocks too” linked the expression to young investors who borrowed to buy shares and suffered losses. Other posts complained that investors who entered because of FOMO had been left “doing the dishes.” Korean retail investors are commonly called “ants,” reflecting their large numbers and relatively small individual holdings. Social media and the herd Research suggests online investment communities can reinforce herd behavior among retail investors. A 2022 study by researchers at Chosun University examined posts on Naver Finance discussion boards and trading data for 971 KOSPI- and KOSDAQ-listed companies between 2018 and 2021. Published in Frontiers in Physics, the study found that higher social-media activity was associated with stronger herding among retail investors. The relationship became more pronounced after the COVID-19 pandemic. A 2025 study by Konkuk University researcher Hohyun Kim, published in Finance Research Letters, also found that investors who used social media for investment information tended to have shorter investment horizons. The effect was stronger among younger investors and those who were more confident in their investment knowledge. Neither study establishes that online posts directly cause investors to buy or sell. But they show how social media can reinforce two forces already familiar in markets: following the crowd and chasing short-term returns. The fake SK hynix screenshot shows another side of the same phenomenon. A real loss of 220.4 million won was already substantial. By adding a zero, someone turned it into a far more dramatic story of bankruptcy and financial ruin. Profits and losses are both widely shared in Korean investment communities. During rallies, screenshots of large gains can fuel FOMO. During selloffs, images of large losses can amplify fear and regret. Financial authorities have also warned that online communities, social media and video platforms can be used for unfair trading, including cases in which investors buy shares before promoting them online and sell after others push up the price. The altered SK hynix screenshot has not been linked to such a scheme. But it illustrates how easily private investment results can be copied, manipulated and recirculated once they become online content. The market loss was real. The extra zero was not. 2026-08-07 17:42:56