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  • President Lee Meets IEA Chief to Discuss Energy Supply Chain Cooperation in Asia-Pacific
    President Lee Meets IEA Chief to Discuss Energy Supply Chain Cooperation in Asia-Pacific President Lee Jae-myung will meet with Fatih Birol, the Executive Director of the International Energy Agency (IEA), on September 17 to discuss strengthening the resilience of energy supply chains in the Asia-Pacific region. The meeting is scheduled for 2 p.m. at the Blue House and aims to elaborate on the energy supply chain cooperation proposal that President Lee suggested during the G7 summit in June. This encounter is seen as a step to bolster energy security in the Asia-Pacific region while preparing for supply uncertainties stemming from the Middle East. During their discussions, President Lee and Birol will review the current international energy market and industry trends amid escalating energy and climate crises, including the recent situation in the Middle East and the severe flooding in Nepal. They will also exchange views on enhancing global energy security in the electrification era and explore new directions for energy cooperation in the Asia-Pacific region. Birol has led a coordinated release of 400 million barrels of emergency oil reserves among IEA member countries in response to the energy crisis caused by the conflict in the Middle East. The IEA is also collaborating with South Korea in the areas of energy security and climate change, and they plan to co-host the International Climate Industry Expo starting in 2024. The IEA, established in 1974 in response to the oil crisis of 1973-1974, is an autonomous agency under the Organization for Economic Cooperation and Development (OECD) that coordinates collective responses to energy supply crises. Its scope has expanded beyond oil to include electricity, natural gas, renewable energy, critical minerals, and climate change. South Korea became a member in 2002.* This article has been translated by AI. 2026-09-17 09:24:20
  • SK Telecom Expands Chat+ PC Version for Text Messaging
    SK Telecom Expands Chat+ PC Version for Text Messaging SK Telecom (SKT) is launching a recommendation and installation event for its 'Chat+ PC version' from September 17 to October 16. The Chat+ PC version is a text messaging service developed jointly by SKT and Samsung Electronics. SKT customers using Samsung Galaxy smartphones (models supporting One UI 6.0 and above) can send and receive text messages on their PCs using their existing phone numbers, regardless of whether the recipient is subscribed to the service. SKT is offering a total of 20 million won in prizes as part of the recommendation and installation event. Participants can join by sharing a personalized URL obtained from the event page with new customers. If the referred customer enters the installation event and completes the installation of the PC program and phone synchronization, it will count as a referral. Among customers who refer 15 or more people, prizes will be awarded based on referral performance: first place will receive a Galaxy Z Fold 8 (1 winner), second place will receive a Galaxy Watch Ultra 2 (2 winners), and third place will receive a 100,000 won Naver Pay point mobile coupon (10 winners). Additionally, through a lottery, those who refer 7 or more people will have a chance to win a 50,000 won Olive Young mobile gift certificate (50 winners), those who refer 3 or more will be eligible for a 10,000 won GS25 mobile gift certificate (100 winners), and those who refer at least 1 will have a chance to win a 2,000 won MegaMGC coffee mobile amount (1,000 winners). The installation event is open to new users of the Chat+ PC version. Participants who enter the event and complete the installation and phone synchronization will be eligible for a lottery. Prizes include a Galaxy Book 6 (16-inch) (1 winner), a 500,000 won Shinsegae Department Store gift certificate (2 winners), a 50,000 won Olive Young mobile gift certificate (30 winners), and a 5,000 won GS25 mobile gift certificate (200 winners). The functionality of the Chat+ PC version will also be enhanced. By the end of this month, a 'text style' feature will be added, allowing users to apply text formatting such as bold and italics, as well as schedule messages. Kim Ji-hyung, head of SKT's Digital Platform Business, stated, "The Chat+ PC version is a service that naturally extends the familiar text messaging experience to PCs for our customers. We will continue to enhance the convenience and value that customers can feel in their daily lives."* This article has been translated by AI. 2026-09-17 09:24:00
  • U.S. Rate Hike Strengthens Dollar, Pushing Exchange Rate Above 1370 Won
    U.S. Rate Hike Strengthens Dollar, Pushing Exchange Rate Above 1370 Won The won-dollar exchange rate rose to the upper 1300s following the U.S. central bank's tightening measures.As of 9:05 a.m. on September 17, the exchange rate in the Seoul foreign exchange market was 1377.3 won per U.S. dollar. The rate was trading at 1377.0 won as of 6 a.m., an increase of 8.4 won from the previous day's closing rate of 3:30 p.m.The rise in the exchange rate is attributed to the strong dollar following the Federal Reserve's interest rate hike and hawkish comments from Fed Chair Kevin Warsh.On September 16, the Federal Open Market Committee (FOMC) raised the benchmark interest rate by 0.25 percentage points to a range of 3.75% to 4.00%. This marks the first tightening since July 2023, a span of two years and two months.In a press conference, Warsh emphasized the Fed's commitment to price stability, stating, "Inflation has been too high and persistent for too long."The New York stock market also experienced a decline. The Dow Jones Industrial Average closed down 631.21 points (1.21%) at 51,461.90.The S&P 500 index fell by 33.92 points (0.45%) to close at 7,551.81, while the tech-heavy Nasdaq Composite dropped 3.15 points (0.01%) to finish at 25,978.43.The value of the dollar increased, with the Dollar Index (DXY), which measures the dollar against six major currencies, rising by 0.619% to 100.255, the highest level since July 31.International oil prices fell following news of Saudi Arabia's diversion of oil supplies. November Brent crude futures dropped by 2.69% to $105.83 per barrel, while October West Texas Intermediate (WTI) crude fell by 3.21% to $102.43 per barrel.At the same time, foreign investors were seen selling in the domestic stock market. Early in the trading session, foreign investors had a net sell of 271.7 billion won in the securities market.The exchange rate is expected to rise due to risk-averse sentiment. Min Kyung-won, an economist at Woori Bank, stated, "The strong dollar resulting from the Fed's rate hike and risk aversion will likely exert upward pressure on the exchange rate."He added, "As major currencies trend weaker, the risk-averse sentiment stemming from deteriorating investor confidence is likely to transfer to the won. The influx of offshore long positions following the strong dollar and continued foreign selling in the domestic market will be the main drivers of the exchange rate increase."* This article has been translated by AI. 2026-09-17 09:20:00
  • North Korean leaders sister reiterates absolute nuclear-armed status
    North Korean leader's sister reiterates 'absolute' nuclear-armed status SEOUL, September 17 (AJP) - Kim Yo-jong, the powerful sister of North Korean leader Kim Jong-un on Thursday reiterated that Pyongyang's status as a nuclear-armed state is "absolute" and cannot be reversed by any means. In a statement carried by the state-run Korean Central News Agency (KCNA), Kim dismissed renewed intonational calls for North Korea to abandon its nuclear weapons program, calling them "all noise." She added that no matter how "desperately" the International Atomic Energy Agency (IAEA) and Western countries held meetings and discussed denuclearization, such efforts would have no effect on North Korea's determination to take all necessary measures to defend its supreme interests, referring to them as "familiar rhetoric" that repeats every year. She also warned that anyone seeking to change the country's current status as a nuclear-armed state should recognize that such efforts would be "futile." Her remarks came days after the IAEA's 70th General Conference opened in Vienna, Austria earlier this week, where member states including South Korea and several European countries voiced concern over North Korea's growing nuclear arsenal. They urged Pyongyang to denuclearize in a "complete, verifiable and irreversible" manner in line with the non-proliferation treaty and relevant U.N. Security Council resolutions. Meanwhile, the IAEA's annual gathering wraps up on Friday after a weeklong discussion of a range of issues in the nuclear field among high-ranking officials and representatives from member states. AJP Takeaways - Kim Yo-jong reiterated North Korea's nuclear-armed status is "absolute" and said it cannot be reversed, rejecting international calls for Pyongyang to abandon its nuclear weapons program. - Kim Yo-jong dismissed denuclearization efforts by the International Atomic Energy Agency (IAEA) and Western countries as recurring "familiar rhetoric," saying they would not affect North Korea's determination to defend its stated national interests. - The remarks followed the International Atomic Energy Agency's 70th General Conference in Vienna, where South Korea and several European countries raised concerns about North Korea's growing nuclear arsenal and called for complete, verifiable and irreversible denuclearization in line with the Non-Proliferation Treaty and relevant U.N. Security Council resolutions. 2026-09-17 09:18:54
  • Bank of Korea Warns of Tightening U.S. Federal Reserve Monetary Policy
    Bank of Korea Warns of Tightening U.S. Federal Reserve Monetary Policy Bank of Korea Vice Governor Kwon Min-soo stated on September 17 that the U.S. Federal Reserve's monetary policy is expected to remain tight in the future.Kwon made the remarks during a market situation review meeting related to the Federal Open Market Committee (FOMC) regular meeting held earlier that day, noting that the FOMC raised the policy interest rate as the market anticipated.During the FOMC meeting on September 15-16 (local time), the Federal Reserve raised the policy interest rate by 25 basis points (1 basis point = 0.01 percentage points), as expected by the market. The Summary of Economic Projections (SEP) indicated an upward revision in growth and inflation forecasts, along with an increase in the projected policy interest rate (dot plot). Of the 18 committee members who submitted the dot plot, 16 predicted a 25 basis point rate hike by the end of this year.Kwon noted, "With the Fed raising rates for the first time in over three years since July 2023, and considering Chair Powell's emphasis on price stability and hints at further rate increases, we expect the Fed's monetary policy to remain tight going forward."He added, "External risk factors persist, including the situation of the Middle East conflict affecting international oil prices, concerns over fiscal soundness in major countries, and uncertainties related to the artificial intelligence (AI) industry. With monetary policy decisions from major countries like Japan and the UK scheduled for this week, we will closely monitor the domestic financial and foreign exchange market conditions with heightened vigilance."* This article has been translated by AI. 2026-09-17 09:16:00
  • Korea Investment & Securities Maintains Target Price of 180,000 Won for Lotte Shopping
    Korea Investment & Securities Maintains Target Price of 180,000 Won for Lotte Shopping Korea Investment & Securities on September 17 maintained a target price of 180,000 won and a "buy" rating for Lotte Shopping, highlighting the momentum in the retail sector, including supermarkets and department stores. Analyst Kim Myung-joo stated, "Sales at domestic department stores have grown by 9-10% compared to the same period last year, which is better than market concerns." He added that Lotte Shopping's discount stores are expected to show the strongest growth among its retail channels, with Lotte Mart projected to achieve around 22% growth year-on-year due to the adjustments at Homeplus stores. Kim estimated that Lotte Shopping's revenue for the third quarter will increase by 9.1% year-on-year to 3.7205 trillion won, while operating profit is expected to rise by 32.7% to 173.2 billion won. He noted that while sales from department stores and discount stores meet market expectations, the online division and Lotte Hi-Mart may fall short of those expectations. Kim assessed that Lotte Shopping's valuation remains attractive, and the outlook for the market after Chuseok is positive. He explained, "After a sharp decline in stock prices following the second-quarter results, the valuation attractiveness has increased, and the momentum in the discount store sector is becoming more pronounced. After the risks associated with increased outbound travel are fully reflected, the momentum in the department store sector may also resurface." However, he cautioned that exchange rate fluctuations could pose a risk. Kim emphasized, "If the stabilized value of the won returns to a trend of strengthening (a decrease in the exchange rate), increased outbound demand could lead to a decline in domestic traffic at department stores, as well as a decrease in sales from foreign customers at those stores." * This article has been translated by AI. 2026-09-17 09:12:20
  • Fed Raises Interest Rate by 0.25%, Dollar Rises and Stocks Fall
    Fed Raises Interest Rate by 0.25%, Dollar Rises and Stocks Fall The U.S. Federal Reserve has raised its benchmark interest rate by 0.25 percentage points. The dot plot, which reflects the rate outlook of Fed officials, also indicated the possibility of another increase later this year. As a result of the stronger-than-expected tightening stance, U.S. Treasury yields and the dollar rose, while the New York stock market declined, reflecting a hawkish outcome in the financial markets.According to the International Financial Center on September 17, the Fed decided at its September Federal Open Market Committee (FOMC) meeting to raise the target range for the federal funds rate to 3.75-4.00%, an increase of 0.25 percentage points from the previous level. The Fed explained that while there are some uncertainties due to geopolitical factors, the U.S. economy is expanding at a solid pace, and inflation remains high, which justified the rate hike.The outlook for future rate increases has also risen. The dot plot showed that the median forecast for the federal funds rate at the end of the year was raised from 3.8% to 4.1%, an increase of 0.3 percentage points. Among the 18 committee members, 12 expect the year-end rate to be between 4.00% and 4.25%. Considering that the current upper limit of the federal funds rate is 4.00%, this suggests the possibility of another increase this year.As the potential for prolonged tightening became apparent, the U.S. financial markets reacted immediately. On September 16, the yield on the U.S. 10-year Treasury note rose by 2 basis points to 5.02%. The dollar index also climbed 0.70% to 100.31. In contrast, the euro and yen fell by 0.68% and 0.74%, respectively.Stock markets showed mixed results. The S&P 500 index fell 0.45% amid assessments that the FOMC outcome was more hawkish than expected. The volatility index (VIX), which reflects market anxiety, rose 14.17% to 17.16.Conversely, the European Stoxx 600 index increased by 0.46%, benefiting from easing inflation concerns due to falling oil prices. Japan's Nikkei 225 index rose 0.69%, and South Korea's KOSPI gained 1.37%. This indicates that the impact of the U.S. rate hike did not lead to a simultaneous decline across global stock markets.In the commodities market, both international oil and gold prices fell. Brent crude oil dropped 2.69% to $105.83 per barrel. Although prices remain above $100 per barrel, expectations for the normalization of oil transport in Saudi Arabia were reflected in the decline. Gold prices fell by 2.85% to $4002.4 per ounce.However, there are forecasts that the rise in interest rates may not lead to a long-term decline in U.S. stocks. Bloomberg noted that strong corporate earnings forecasts, particularly in the tech sector, are supporting the market, and liquidity indicators suggest that the stock market can withstand a certain level of rate increases.The future direction of global financial markets is expected to depend on the number of additional rate hikes by the Fed, the degree of inflation moderation, and the persistence of high oil prices. Analysts suggest that if the Fed continues tightening to control inflation, upward pressure on U.S. Treasury yields and the dollar may persist.* This article has been translated by AI. 2026-09-17 09:12:10
  • Hanwha to Develop Integrated Air Defense System with UAEs EDGE Group
    Hanwha to Develop Integrated Air Defense System with UAE's EDGE Group Hanwha is set to collaborate with the United Arab Emirates' (UAE) largest state-owned defense company, EDGE Group, to develop an integrated air defense system.On September 15, Hanwha Systems announced that it signed a key agreement with EDGE Group in Abu Dhabi regarding the UAE integrated air defense system project. The agreement outlines the direction for introducing weapon systems related to the integrated air defense system and details for phased reviews.This signing marks a significant step beyond individual weapon system supplies, establishing a foundation for Hanwha and EDGE to share a long-term project for the UAE's integrated air defense system and to further specify joint ventures in the future.The two companies plan to gradually detail project implementation strategies in line with defense cooperation directions between the two governments. They will review the establishment of a local joint venture (JV) and production and operational plans, while also promoting localization to enhance defense production and maintenance capabilities in the UAE.Hanwha aims to complete a unique integrated air defense system with superior performance by focusing on long-range and medium-range surface-to-air guided weapon systems, linking them with counter-drone systems (C-UAS) and short-range air defense systems. Additionally, Hanwha plans to develop the UAE as a strategic hub for expanding into the Middle East and other third countries.Yang Ki-won, CEO of Hanwha Systems, stated, "This is a turning point in evolving from a one-time weapon system supply relationship to a strategic and partnership-based collaboration in integrated air defense technology and industry. We will contribute to strengthening the UAE's defense base by gradually expanding technological cooperation and localization efforts."Meanwhile, Hanwha Systems has been expanding its presence in the Middle East air defense market, having exported the Cheongung-II (M-SAM) multifunction radar to the UAE in 2022 and securing related contracts in Saudi Arabia.* This article has been translated by AI. 2026-09-17 09:12:10
  • 38.3 Million AI Training Data Sets from Magazines, Textbooks, and Academic Papers Made Public
    38.3 Million AI Training Data Sets from Magazines, Textbooks, and Academic Papers Made Public More than 38 million data sets, including books, tables, illustrations, advertisements, and photographs, will be made available to the public.The National Library of Korea announced on September 17 that it will publicly release artificial intelligence (AI) training data built from national literature for the first time.The release includes 3,974 text data sets (Hidden Text PDF, XML, TXT, JSON), 21,485 image data sets such as tables, illustrations, advertisements, and photographs, as well as 38.3 million character datasets, totaling 38.33 million items.Along with this data release, the existing project platform, 'shared library,' has been revamped to optimize it for AI training data usage. This upgrade focuses on enhancing convenience for various purposes, including AI training, academic research, service and app development, and content creation, making it easily accessible to everyone.The open data consists of digitized original texts from the National Library of Korea, including modern magazines from the 1930s and 1940s, government publications and textbooks from the 1940s to 1960s, and open access academic papers that have been authorized for AI training use. Anyone can freely browse and download the materials from the 'shared library.'The text data is provided in a refined, high-quality format that is easy for AI to recognize, allowing for immediate use in research and service development. The character datasets can be directly utilized for AI training, which is expected to benefit small and venture companies struggling to secure large-scale data for AI-based optical character recognition (OCR) and natural language processing.The revamped 'shared library' has also strengthened its features to support AI and digital humanities research and expand the use of public data. By organizing and processing the vast knowledge resources accumulated digitally into a format that AI can learn from, large-scale data-driven humanities research, which was previously challenging, is now possible. Researchers are expected to conduct digital humanities studies more easily by analyzing various materials such as literature, records, and images with AI to derive new meanings.Moreover, the significance of this initiative lies in the large-scale opening of national literature that can be directly utilized for AI training, alleviating some of the burdens of costs and copyright issues that researchers and small and venture companies have faced in securing training data.The platform's user environment has also been improved to be more user-friendly. It features an intuitive layout and a navigation structure based on material and image types, allowing anyone to easily access the data without a separate registration process, making it easy for both professional researchers and the general public to search and utilize the materials.The National Library of Korea plans to continue expanding data construction and opening, including the additional release of text data from over 300 Korean novels by the end of this year, and to enhance AI utilization services, developing the 'shared library' into a continuously growing data platform.Lee Hyun-joo, head of the Digital Information Planning Division at the National Library of Korea, stated, “We will steadily expand the scope of data openness to create a library in the AI era where all citizens can benefit from public knowledge resources.”* This article has been translated by AI. 2026-09-17 09:12:10
  • KT&G Launches Lil Tonino Lamborghini Pop-Up Store in Seongsu
    KT&G Launches 'Lil Tonino Lamborghini' Pop-Up Store in Seongsu "How long does it take to heat the Lil Tonino Lamborghini? Three seconds!"On September 15, KT&G opened a pop-up store for its new 'Lil Tonino Lamborghini' in Seongsu-dong, Seoul. Upon entering, visitors were greeted with a quiz about the product's key feature: a three-second heating time. The interior, reminiscent of a sports car, featured a large product model and a structure displaying the phrase '3sec' hanging from the ceiling, designed to help visitors remember the number.KT&G is operating the pop-up store until September 23 to celebrate the launch of its new heated tobacco product, marking the company's first consumer experience space in this format.The two-story venue includes product displays, photo zones, quizzes, voting, dart games, racing games, and a lounge. Visitors can collect stickers by completing missions for a chance to play capsule games and participate in an event to assemble limited-edition keycaps. A KT&G representative stated, "Since the product's core feature is the three-second heating time, we prepared a lot of content that intuitively communicates this, from quizzes to fast-paced games."At the venue, attendees could see five color options: Carbon Gray, Copper Brown, Wave Blue, the limited-edition Ruby Black, and the pre-release Lime Green. The device's grip was notably comfortable, fitting easily in one hand. Its exterior featured geometric patterns for a sleek look, with a color display about 2 cm in size and a single round button on the side.After inserting the dedicated stick 'NAU' and pressing the button, a vibration indicated that heating was complete in just three seconds. This is a significant improvement compared to existing heated tobacco products, which typically require over ten seconds to heat. KT&G explained that it has implemented 'Flashwave Heating' technology, achieving the fastest heating time among domestic heated tobacco products.Once heating was complete, the display showed the number '14,' indicating the number of puffs available from one stick. The device automatically tracks the number of puffs taken, decrementing the count with each use. Battery life and remaining usage time are also displayed numerically and as a percentage, providing a clear overview of the device's status.After exploring the pop-up store, many visitors naturally moved to the purchase area. They were seen examining the product's colors and designs or trying it out before joining the purchase line, with a particular interest in the limited-edition Ruby Black.The suggested retail price for the standard product is 110,000 won, while the limited-edition Ruby Black is priced at 120,000 won. For the launch, both are being sold at promotional prices of 49,000 won and 59,000 won, respectively.Many consumers took advantage of a trade-in program, receiving an additional 10,000 won discount for returning their old devices. A collection box for returned devices, positioned at waist height, was filled to about one-third capacity within half a day, indicating a strong demand for upgrading to the new product after trying it out.KT&G's decision to open its first pop-up store in Seongsu, an area known for its fashion and beauty pop-ups, aims to enhance the brand's trendy image and expand consumer engagement. A KT&G representative noted, "Seongsu attracts a diverse crowd, and we wanted to broaden our reach to our main target demographic of those in their 20s and 30s, as well as our existing user base in their 40s."Visitors of various ages, from their 20s to 40s, frequented the pop-up. One attendee remarked, "I was curious about the product, and when I heard about the pop-up, I decided to check it out. After trying it, I could really feel the difference from the previous products, which piqued my interest further."The pop-up store will remain open until September 23, with entry available through pre-registration or on-site registration, requiring an ID for age verification. The new product will also be available at convenience stores and Lil stores in the Seoul area.A KT&G representative expressed, "As this is the first pop-up store for the Lil brand, we wanted visitors to experience the brand's novelty and enjoyment beyond just seeing the product. We hope this pop-up will help consumers remember 'Lil' as an exciting brand that sparks anticipation."* This article has been translated by AI. 2026-09-17 09:12:00