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  • SK Gas Shares Plunge Over 10% Following Disappointing Q2 Earnings
    SK Gas Shares Plunge Over 10% Following Disappointing Q2 Earnings SK Gas shares fell more than 10% in early trading after the company reported second-quarter results that significantly missed market expectations.As of 9:54 a.m. on the Korea Exchange, SK Gas was trading at 200,500 won, down 23,000 won (10.29%) from the previous trading day.The disappointing earnings report has dampened investor sentiment, leading to a concentrated sell-off in early trading.On July 31, SK Gas announced that its consolidated revenue for the second quarter was 2.313 trillion won, with an operating loss of 439 billion won. While revenue increased by 23.0% compared to the same period last year, it decreased by 12.2% from the previous quarter.The company reported an operating profit of 1.207 trillion won in the second quarter of last year and 2.277 trillion won in the first quarter of this year, both of which turned into losses.Financial information provider FnGuide had projected an operating profit of 1.489 trillion won and a net profit of 1.167 trillion won, but the actual results fell significantly short of these estimates.SK Gas is scheduled to hold an investor relations (IR) meeting on August 5 to discuss its second-quarter business performance with domestic institutional investors.As the leading liquefied petroleum gas (LPG) provider in South Korea, SK Gas focuses on the import, storage, and sale of LPG, as well as global trading.The company operates its gas chemical subsidiary, SK Advanced, based on its LPG business and plans to expand its portfolio with the commercial operation of the Korea Energy Terminal LNG terminal in November 2024 and the world's first LNG-LPG dual power plant, Ulsan GPS, in December 2024.Currently, approximately 90% of the company's consolidated revenue comes from its LPG business, but SK Gas aims to gradually increase the share of new businesses, including LNG and power generation.* This article has been translated by AI. 2026-08-03 10:16:10
  • Israel Raises Concerns Over U.S.-Led Hamas Disarmament Agreement
    Israel Raises Concerns Over U.S.-Led Hamas Disarmament Agreement Israel has expressed serious concerns regarding a U.S.-led agreement for the disarmament of Hamas, stating it will not withdraw troops from the Gaza Strip until the group relinquishes its weapons.On August 2, Doron Spielman, a spokesperson for the Israeli Prime Minister's Office, conveyed this position to the White House, according to the Associated Press.Spielman stated, "Israeli intelligence believes Hamas is focusing on rebuilding its forces and military infrastructure instead of disarmament," adding, "We will not withdraw troops from Gaza until Hamas is fully disarmed." He emphasized that disarmament means actually giving up weapons.This statement marks Israel's first official response following President Donald Trump's announcement on July 30 that the Gaza Peace Commission had reached an agreement for the complete disarmament of armed groups, including Hamas.Israel and Hamas are at odds over which should come first: disarmament or troop withdrawal. Hamas argues that Israel must cease its attacks and withdraw its forces before it can hand over its weapons. Conversely, Israel fears that if it withdraws first, Hamas will regain strength and rebuild its military facilities.The agreement obtained by the AP stipulates that Hamas will transfer its weapons to be stored under the management of the Gaza Administrative Committee (NCAG), composed of Palestinian technocrats.The disposal and storage of heavy weapons, as well as the dismantling of tunnels and weapons production facilities, will occur after the NCAG begins its operations and an international stabilization force is deployed. In line with this process, the Israeli military is also expected to withdraw gradually.* This article has been translated by AI. 2026-08-03 10:16:00
  • Pearl Abyss Crimson Desert Wins Best International Game at China Game Innovation Awards
    Pearl Abyss' 'Crimson Desert' Wins Best International Game at China Game Innovation Awards Pearl Abyss' 'Crimson Desert' was awarded 'Best International Game' at the China Game Innovation Awards 2026 (CGIA), held during China’s largest gaming expo, ChinaJoy, recognizing its technical capabilities and artistic merit in the Chinese market.Pearl Abyss announced on August 3 that 'Crimson Desert' won the Best International Game category at the China Game Innovation Awards.The CGIA is organized by the China Audio-Video and Digital Publishing Association and hosted by the gaming platform TapTap. The awards evaluate the originality, technical prowess, and artistry of games each year to select outstanding games and developers.The Best International Game award is given to foreign games that demonstrate innovation in gameplay mechanics, technical application, and artistic design, contributing to the advancement of the global gaming industry.To penetrate the Chinese market, Pearl Abyss set up a dedicated booth for 'Crimson Desert' at Bilibili World during ChinaJoy last year, expanding its engagement with local users. The company has also focused on localization efforts, including support for Chinese voiceovers and subtitles to enhance user immersion.Chinese gaming media outlet Gamersky rated 'Crimson Desert' 86 points, stating, 'The richness of the content makes it hard to believe it’s a real game.' They highlighted the vast open world and diverse content as key strengths.* This article has been translated by AI. 2026-08-03 10:16:00
  • Brokerage sees long-term buying opportunity in KOSDAQs Ecopro BM
    Brokerage sees long-term buying opportunity in KOSDAQ's Ecopro BM SEOUL, August 03 (AJP) — Shares of South Korean battery materials maker Ecopro BM fell more than 11 percent on Monday after Hana Securities slashed its target price by 40 percent, but the brokerage argued the selloff has already priced in most near-term risks, leaving room for a recovery as long-term battery demand strengthens. The brokerage cut its target price to 154,000 won ($111) from 257,000 won, saying demand is expected to remain weak as major European customers delay new electric-vehicle projects until at least the first half of next year. It also pointed to weaker demand in North America's energy storage system (ESS) market. One of the company’s major customers is now buying nickel-cobalt-aluminum (NCA) battery materials from multiple suppliers instead of relying on a single company, a shift that is expected to reduce Ecopro BM's sales. Reflecting the weaker near-term outlook, the brokerage said third-quarter revenue is expected to reach 539.8 billion won ($389 million), down 6 percent from the previous quarter and 14 percent from a year earlier, while operating profit is expected to fall to 13.2 billion won, down 27 percent from the previous quarter and 74 percent from a year earlier. The earnings slowdown has also reduced its earnings per share (EPS) to 585 won, pushing its trailing price-to-earnings (P/E) ratio to 161.2. Ecopro BM, which was spun off from parent company Ecopro in 2016, makes high-nickel cathode materials used in lithium-ion batteries for electric vehicles and energy storage systems. It has been a key supplier to the fast-growing battery industry as global demand for EVs and energy storage continues to expand. Despite the near-term challenges, Hana securities said investors should look beyond the current earnings slowdown. The brokerage expects orders set to begin contributing from 2028 are expected to drive a strong recovery in annual earnings, while battery stocks have historically been valued based on profits expected two to three years ahead rather than current results. It added that the current share price already reflects most of the downside risks while failing to fully account for the company's long-term earnings potential, making the recent weakness a buying opportunity for long-term investors. 2026-08-03 10:13:17
  • Morgan Stanley Upgrades Korean Stock Market Outlook, Sees 36% Potential KOSPI Rise
    Morgan Stanley Upgrades Korean Stock Market Outlook, Sees 36% Potential KOSPI Rise Morgan Stanley has upgraded its investment outlook for the Korean stock market from 'neutral' to 'overweight,' citing significant liquidation of leverage positions following recent market declines.According to Bloomberg on August 2, the recent drop in the stock market has led to substantial liquidation of leveraged exchange-traded funds (ETFs), margin loans, and hedge fund borrowing positions, creating better entry opportunities for investments in artificial intelligence (AI) and the industrial supercycle.Morgan Stanley stated, "After the rapid unwinding of leverage positions, the KOSPI has the potential to rise 36% to our target of 9000." The short-term forecast for the KOSPI is set between 5500 and 10500.The KOSPI experienced significant volatility, surging 18% on the previous trading day before dropping as much as 5.5% during the session. Compared to its peak in June, it has fallen over 30%.Bloomberg noted that while the Korean stock market has emerged as a key indicator of AI demand in Asia, driven by major players like Samsung Electronics and SK Hynix, the surge in single-stock leveraged ETFs and the index's concentration in a few large-cap stocks have exacerbated the recent declines.Morgan Stanley assessed that the recent sell-off was primarily influenced by technical factors such as supply and position adjustments, rather than corporate earnings or economic outlooks. The liquidation process of leveraged ETFs, hedge fund borrowing, and individual investor margin loans is already more than halfway complete.The firm anticipates that Samsung Electronics and SK Hynix will support the lower end of the KOSPI's valuation. It also expects that industrial materials, defense, and financial stocks could benefit from the industrial supercycle and policy changes.In addition, Morgan Stanley raised its investment outlook for the Thai stock market from 'neutral' to 'overweight,' citing increased foreign direct investment and improved competitiveness, which are creating more investment opportunities. The firm also noted that major companies are likely to benefit from capital expenditures in AI and enhanced energy security.Conversely, the outlook for the Australian stock market was downgraded from 'neutral' to 'underweight,' as ongoing interest rate hikes and tax reforms reducing incentives for real estate investment have limited further upside potential.* This article has been translated by AI. 2026-08-03 10:12:00
  • Lees approval rating hits lowest level since taking office
    Lee's approval rating hits lowest level since taking office SEOUL, August 3 (AJP) - President Lee Jae Myung's approval rating fell to its lowest level since taking office, according to a survey released by pollster Realmeter on Monday. In its survey of more than 2,500 adults nationwide conducted last week, 45.9 percent of respondents said Lee was doing a good job. The figure was down 0.4 percentage point from the previous week, marking the third straight week of decline. Slightly more respondents or 50.5 percent disapproved of his performance, with the figure rising above the 50 percent mark for the first time since he took office in June last year. Some 3.5 percent remained undecided. Realmeter attributed the decline to a combination of factors including economic uncertainty amid stock market volatility partly caused by fallout from single-stock leveraged exchange traded funds (ETFs) and controversies over real estate tax policies, despite some positive outcomes from Lee's South American tour last week. In addition, the passage of a bill stripping prosecutors of their investigative powers last Friday, as well as broader discussions over a potential constitutional amendment that would allow him to seek presidential re-election, also contributed to the continued decline in his approval rating. Meanwhile, in a separate survey of about 1,000 adults conducted last Thursday and Friday, 45.1 percent supported the ruling Democratic Party (DP), up 3.8 percentage points from the previous week, while 37.7 percent supported the main opposition People Power Party (PPP), down 2.9 percentage points. Among minor partis, the centrist Reform Party garnered 2.4 percent, followed by the liberal Rebuilding Korea Party at 2 percent and the left-wing Progressive Party at 0.9 percent. Some 9.5 percent supported none of the parties. The survey was conducted through computer-assisted telephone interviews using randomly generated mobile phone numbers. More details are available on the website of the National Election Survey Deliberation Commission. 2026-08-03 10:06:19
  • New Book Explores How Local Communities Build Competitiveness
    New Book Explores How Local Communities Build Competitiveness Where does a region's competitiveness begin? A new book argues that solutions should be found not just in large-scale development or increasing tourist numbers, but in the long-accumulated culture, lifestyle, and relationships of its people. Co-authored by eight PR experts, Local Shift introduces various case studies on how regions can create their own value and establish sustainable relationships.Publisher Saeroun Saram announced on August 3 that the book Local Shift was released, featuring contributions from certified PR professionals (KAPR) including Jeon Ye-ji, Park Ji-young, Seo Soo-hyun, Jeong Gi-yun, Jeon Min-cheol, Jo Cheol-je, Yoon Han-deuk, and Kim Yoon-mi. The authors, who have experience in various industries such as distribution, tourism, IT, and construction, spent about a year collaborating to explore local branding, storytelling, local food, tourism, transportation, IT, climate change, and community from a PR communication perspective.The book goes beyond viewing regions solely through the lens of 'crisis of extinction.' It interprets the culture, history, food, lifestyle, and relationships that each region has built over time as unique assets, proposing ways to connect these to new competitive advantages.Amid growing global interest in Korean lifestyles, the authors believe that the accumulated ways of life and culture in each region can become competitive content in the world market.The authors assert that the future of regions will not be determined solely by large-scale development projects or competition for tourist attraction. They emphasize the importance of reinterpreting the everyday cultural practices and memories of communities and developing them into unique regional narratives.They also suggest that promotional methods for regions need to change. Rather than one-sided promotion led by administrative agencies, a collaborative process involving residents, merchants, and visitors in creating regional value can lead to long-term competitiveness.The book consists of eight chapters, starting with local branding and storytelling, and examines the potential of regions across various fields, including local food, tourism, transportation, IT, sustainability, and community.In the tourism sector, it introduces a model where residents become the main players in tourism, moving away from a focus solely on increasing visitor numbers. It also addresses various challenges related to regional sustainability, including transportation infrastructure, digital technology, artificial intelligence (AI), climate crisis response, and community recovery.The book features domestic case studies from places like Gangneung, Jeonju, Seongsu, Bukchon, and Mangwon-dong, showcasing local food, tourism, transportation, AI, climate action, and community projects. It connects PR theories such as place branding, experience economy, relationship management, social capital, and two-way symmetrical communication with real-world examples.Jo Young-seok, president of the Korean PR Association, praised the book in a recommendation, stating, "Helping regions speak for themselves is PR," and noted that it demonstrates how accumulated PR expertise can create change by connecting with the unique values of local areas.Additionally, Kim Joo-ho, honorary president of the Korean PR Association, highlighted the significance of PR professionals addressing public issues beyond organizational promotion, while Kim Kyung-dal, director of Blue Dot AI, described local areas as future media assets that need to be reinterpreted and connected.To celebrate the book's release, the authors will hold a book talk on the 26th at Chosun Salon in Jongno, Seoul, where they will share key insights and the writing process of Local Shift with readers.* This article has been translated by AI. 2026-08-03 10:04:10
  • Launch of Everyones AI Growth Ladder Connects Education, Development, and Entrepreneurship
    Launch of 'Everyone's AI Growth Ladder' Connects Education, Development, and Entrepreneurship The Ministry of Science and ICT is launching the 'Everyone's AI Growth Ladder Project,' which will provide step-by-step support for artificial intelligence (AI) education, development, and entrepreneurship. The initiative aims to connect previously scattered AI education and development resources into learning centers, labs, and lounges, enhancing the AI capabilities of the entire population and creating a virtuous cycle where ideas from the field lead to service development and youth entrepreneurship.On August 3, the Ministry held the launch ceremony for the 'Everyone's AI Growth Ladder Project' at the Gwangju National Science Museum. The event also marked the opening of the integrated 'Everyone's AI Learning Center, Lab, and Lounge.'Attendees included Deputy Prime Minister Baek Kyung-hun, lawmakers Jeong Jun-ho, Lim Moon-young, and Jo In-cheol from the Jeonnam-Gwangju Integrated Special City, Goh Kwang-wan, the Deputy Mayor for Safety and Livelihood in Jeonnam-Gwangju, Kim Hyung-cheol, the head of the Korea Intelligent Information Society Agency, and Jeong Woo-sung, the chairman of the Korea Science and Creativity Foundation, who inspected the educational facilities. Representatives from the Everyone's AI Learning Center, Lab, and Lounge, as well as local students and youth, also participated in the ceremony.The 'Everyone's AI Growth Ladder Project' is part of the 'Everyone's AI Normalization' policy. Following recommendations from the 'National AI Action Plan,' the project aims to unify previously separate AI education, development, and testing infrastructures. It will establish a step-by-step growth system that encompasses learning, development, and scaling up.To enhance the AI capabilities of all citizens, the project will create an online AI learning environment that connects public and private AI educational content in one place. It will go beyond simple education to link innovative ideas from the field to AI services and entrepreneurship through practical training and development. Additionally, it aims to expand testing sites that address local issues with AI across the country, promoting the practical use of AI in everyday life. 2026-08-03 10:04:10
  • LG Electronics Accelerates B2B Laundry Appliance Business in Southeast Asia
    LG Electronics Accelerates B2B Laundry Appliance Business in Southeast Asia LG Electronics is expanding its supply of commercial laundry appliances in Southeast Asia, focusing on strengthening its business-to-business (B2B) operations. Leveraging the technology and operational expertise gained in North America and Europe, the company is enhancing product competitiveness and remote management solutions to accelerate its entry into the global commercial laundry market.On August 3, LG Electronics announced that it has completed the supply of commercial washing machines and dryers to 'Trendy Wash,' Thailand's second-largest laundromat franchise, which operates 630 locations. The company plans to provide additional units to over 400 new stores opening this year.Trendy Wash chose LG Electronics products for their durability, energy efficiency, and an operational platform that allows for efficient management of multiple locations.In addition to Thailand, LG Electronics is rapidly expanding its business in Southeast Asia, including the Philippines and Vietnam. In the Philippines, the company is enhancing partnerships with major commercial laundry appliance distributors such as 'ELS,' 'Big Wash,' and 'Express Clean.' Recently, LG opened a smart laundry store called 'Bee Laundry' in Hanoi, Vietnam.Bee Laundry serves not only as a laundry service for general customers but also as a reference store where potential entrepreneurs and business partners can experience LG's commercial washing machines and management solutions firsthand.The laundromat market in Southeast Asia is growing rapidly due to factors such as a hot and humid climate, urbanization, and an increase in single-person households. The demand for commercial laundry services is steadily rising in major cities with high tourist and long-term resident populations, making it a region with significant market growth potential.Last year, LG Electronics' sales of commercial laundry appliances in Southeast Asia increased by approximately 60% compared to the previous year, with sales in Thailand more than doubling and those in the Philippines increasing by over 50%.Building on this growth, LG plans to expand its operations to Vietnam, Cambodia, Singapore, Malaysia, and Indonesia.The company is also strengthening its efforts in Europe and North America. This month, LG launched its 'LG Professional' brand of large-capacity commercial laundry appliances (20 kg and above) in the European market. The lineup includes six models of washing machines, dryers, and washer-dryer combos, featuring AI that analyzes the weight of laundry to automatically optimize water usage and drying conditions.The dryers incorporate dual inverter heat pump technology to enhance energy efficiency and can be flexibly installed in various commercial spaces without the need for separate exhaust duct installation.In the North American market, LG is expanding its collaboration with CSC ServiceWorks, the leading provider of commercial laundry solutions, while continuing to supply products to the second-largest player, Wash.LG Electronics also highlights its differentiated core component technology as a competitive advantage. The commercial washing machines utilize an inverter DD (Direct Drive) motor that connects the drum directly to the motor, reducing vibration and noise while enhancing durability and energy efficiency. This ensures stable performance in commercial environments where the machines are used for extended periods.The management solutions that enhance operational efficiency are another strength. Through the 'LaundryCrew' platform, operators can monitor and control multiple washing machines and dryers in real-time. The system also provides error notifications and smart diagnostic features, reducing maintenance burdens.LG Electronics aims to further expand its global commercial laundry appliance market presence, leveraging its accumulated experience in the premium market and the competitiveness of its management solutions.Im Ki-yong, head of LG Electronics' HS B2B overseas sales, stated, "We will continue to expand our B2B business in the global commercial laundry market based on our industry-leading product competitiveness and proven management solutions."* This article has been translated by AI. 2026-08-03 10:04:00
  • Easier Registration for Franchisee Associations as Membership Rules Change
    Easier Registration for Franchisee Associations as Membership Rules Change The Fair Trade Commission (FTC) is set to enhance the negotiating power of franchisees by clarifying the registration requirements for franchisee associations and the consultation process with franchisors. Associations with more than 10% of franchisees as members will find it easier to register with the FTC, while those with membership below 30% will need to gather opinions from non-member franchisees.On August 3, the FTC announced that it will issue an administrative notice for the amendment of the Franchise Business Act enforcement decree by September 14, and for the establishment of guidelines regarding the registration of franchisee associations and the consultation process by August 24. This follows the revised Franchise Business Act, which mandates the registration of qualifying franchisee associations and requires franchisors to consult with these registered associations. Franchisors that fail to comply may face corrective orders.According to the amendment, a franchisee association can register with the FTC if it has at least 10% of franchisees or more than 1,000 members. The FTC has set a minimum membership requirement of 30 members, considering the lowered membership ratio of 10%. This aims to reduce the burden on small franchisors while ensuring meaningful consultation opportunities for franchisee associations.When registering, associations must submit a registration application, and if there are changes, a change registration application. They can also request consultations with franchisors regarding franchise agreements and advertising or promotional activities.If a registered association with less than 30% membership requests a consultation, it must first gather opinions from non-member franchisees. The association is required to announce the consultation topic, its opinions, and the method for submitting feedback, and then relay the results to the franchisor.To prevent repeated consultation requests, the amendment includes restrictions. Once a registered association has consulted on a topic, it cannot request the same topic again for 180 days. Requests for different consultation topics will be limited to 60 days. For franchisors with fewer than 100 franchisees, the restriction period is 90 days.This amendment is expected to empower franchisees to negotiate fairly with franchisors, helping to prevent unfair trading practices and improve transaction conditions in the franchise sector. The FTC believes that by clearly regulating the registration requirements and consultation procedures for franchisee associations, concerns from franchisors about the proliferation and indiscriminate consultation requests from these associations will be significantly alleviated.The FTC stated, "To prepare this amendment, we have continuously engaged with stakeholders through meetings and discussions throughout the first half of this year," adding that it will carefully review the feedback received during the legislative and administrative notice period to ensure the smooth implementation of the revised Franchise Business Act, aiming to complete the amendment of the enforcement decree and the establishment of guidelines within the year.* This article has been translated by AI. 2026-08-03 10:04:00