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  • Lotte Card Launches Educational Partnership Card on First Day of Operations
    Lotte Card Launches Educational Partnership Card on First Day of Operations Lotte Card, which faced a 1.5-month business suspension due to a data breach, introduced an educational partnership card on its first day of operations. On September 16, Lotte Card announced the launch of the 'YBM X Digiroka' card in collaboration with YBM, offering discounts for language tests and educational services. The card provides a 20% discount on major language and IT tests administered by YBM, including TOEIC, TOEIC Speaking, and the Japanese Language Proficiency Test, as well as on services from YBM language institutes and online courses. In the retail sector, the card offers a 10% discount on purchases at convenience stores such as 7-Eleven, GS25, CU, and Emart24, as well as shopping platforms like Coupang, Naver, Smart Store, Olive Young, Daiso, and Musinsa. Discount limits apply for convenience stores and shopping categories. Customers who spend over 500,000 won in the previous month can receive a monthly discount of 5,000 won, while those spending over 1 million won can receive 7,000 won, and those spending over 1.5 million won can receive 10,000 won. A representative from Lotte Card stated, "Through our partnership with the YBM Group, we are introducing a card that offers substantial benefits related to educational services. We plan to continue collaborating to alleviate the financial burden of education for our customers." * This article has been translated by AI. 2026-09-16 16:52:00
  • SK hynix plays down speculation of Intel fab tie-up
    SK hynix plays down speculation of Intel fab tie-up SEOUL, September 16 (AJP) -Shares of SK hynix shot up nearly 4 percent Wednesday on a report that the South Korea-based memory giant was considering producing memory chips in the United States at an Intel facility, a scenario the chipmaker later played down. "We are intent on adding an overseas fab, and reviewing multiple countries and sites," a company spokesman said, declining to name the countries under consideration or confirm whether Intel was among the potential partners. Reuters reported that SK hynix was in talks with U.S. chipmaker Intel, citing three people familiar with the discussions. SK hynix's American depositary receipts have traded on Nasdaq since July. Options under discussion include leasing part of Intel's long-planned chipmaking complex in Ohio or forming a venture with Intel and major cloud companies seeking to secure long-term memory supplies, according to the report. "The report went way ahead with scenario. We're still in the review stage," the spokesman said, declining to confirm whether talks with Intel were under way. SK hynix has increasingly become a target for governments and global technology companies seeking to secure memory supplies as artificial intelligence drives explosive demand for high-bandwidth memory, or HBM. The company commanded 50 percent of the global HBM market by revenue in the second quarter, ahead of Samsung Electronics at 33 percent and Micron Technology at 18 percent, according to Counterpoint Research. HBM stacks multiple DRAM chips to sharply increase data-transfer capacity and has become a critical component of graphics processors and other AI accelerators. Its HBM gambit, which put SK hynix at the heart of Nvidia's AI chip supply chain, has translated into a massive cash windfall and given the chipmaker greater financial capacity to expand overseas. The company's operating profit surged nearly sixfold to 98.2 trillion won ($72 billion) in the first half from 16.7 trillion won a year earlier, driven by booming AI-memory demand and sharply higher chip prices. Cash and cash equivalents increased by 33.6 trillion won during the second quarter to 88 trillion won, while total debt fell to 18.6 trillion won, leaving SK hynix with a net cash position of 69.4 trillion won. Its chip muscle invited both pressure and courting. U.S. Commerce Secretary Howard Lutnick said earlier this month that the Trump administration was preparing a semiconductor tariff policy aimed at encouraging chipmakers to manufacture in the U.S. "What you're going to see is targeted, thoughtful tariff policy that basically says if you build here, you don't pay," Lutnick told CNBC's Squawk Box. "But if you don't build here, expect to pay to enter the greatest market in the world." SK Group Chairman Chey Tae-won acknowledged the pressure in July, saying SK hynix was facing heavy lobbying from customers and governments seeking additional chip supplies and that the company may need to build a U.S. factory. SK hynix has already committed more than $4 billion to an advanced HBM packaging and research facility in West Lafayette, Indiana, where it broke ground last month. The facility, scheduled to begin mass production in 2029, will package and test next-generation HBM but will not serve as a front-end wafer fabrication plant. A deal involving Intel's Ohio site could therefore mark a substantially deeper move into U.S. manufacturing by bringing memory-chip fabrication itself onto American soil. Such a move could be politically sensitive in Seoul. Semiconductor technologies are designated as "national core technologies" in South Korea, meaning overseas transfers involving protected technologies are subject to government review under the Industrial Technology Protection Act. SK hynix runs a DRAM manufacturing base in Wuxi, China, but its most advanced HBM investments remain concentrated at home. Speculation over another overseas production base surfaced when Chey visited Japan on Aug. 31 for a Korea-Japan business meeting in Sendai. Local media reported that SK hynix could establish a semiconductor manufacturing joint venture in Japan after Chey, asked about investment plans, said, "We are in the process of studying." AJP Takeaways - SK hynix played down a Reuters report that it was discussing a U.S. memory fab tie-up with Intel, saying it is still reviewing multiple countries and sites for an overseas plant. - HBM gambit has made SK hynix the global market leader with about a 50 percent share, while first-half operating profit surged nearly sixfold to 98.2 trillion won. - Washington is intensifying pressure on Asian chipmakers to manufacture in the U.S., raising the strategic importance of SK hynix's next overseas fab decision. 2026-09-16 16:49:26
  • Ruling Party Accelerates Police Reform Amid Public Distrust
    Ruling Party Accelerates Police Reform Amid Public Distrust The Democratic Party of Korea discussed measures to address public distrust regarding the new criminal justice system set to launch next month. This comes as the reform aimed at abolishing the prosecution's supplementary investigative powers nears completion, with the goal of swiftly preparing a police reform plan to minimize confusion.The party's Police Reform Task Force held a meeting with criminal defense attorneys at the National Assembly. Co-chair Lee Hae-sik emphasized the need for democratic oversight of police powers if the abolition of supplementary investigative rights strengthens police authority.Co-chair Kim Nam-hee also stressed the necessity for structural reforms within the police. He stated, "There needs to be a process for victims to easily access investigative information," indicating a priority on victim-centered responses. Attorneys present at the meeting echoed concerns about public distrust stemming from cases like the Jang Yoon-ki incident and the Jeju missing persons case, asserting that police investigations should be conducted from the victims' perspective.With the launch of the Serious Crimes Investigation Agency and the Prosecution Service scheduled for October 2, the task force appears to have initiated a formal process for gathering opinions on the police reform proposal during this meeting. As follow-up legislation on prosecution reform accelerates, there is a plan to quickly unveil the police reform proposal to minimize confusion. However, a specific timeline for the announcement of the police reform plan has yet to be determined.Meanwhile, the Democratic Party has indicated that under the leadership of Kim Min-seok, it aims for a level of police reform that surpasses that of prosecution reform. On September 1, Kim officially launched the task force, vowing to eradicate six major issues: case concealment, favoritism, unwarranted case closures, evidence concealment and manipulation, leakage of investigative information, and violations of personal privacy. During a high-level party meeting on September 13, he reiterated that the current police reform process has been tepid and passive, calling for a more robust reform effort.* This article has been translated by AI. 2026-09-16 16:48:00
  • South Korea Launches Physical AI Initiative with Focus on Jeonbuk and Gyeongnam
    South Korea Launches Physical AI Initiative with Focus on Jeonbuk and Gyeongnam The Ministry of Science and ICT (MSIT) will invest approximately 1.4 trillion won in research and development (R&D) for physical AI in the Jeonbuk and Gyeongnam regions by 2030.On September 16, MSIT held a kickoff meeting for the physical AI R&D project at the Novotel Ambassador in Seoul, focusing on manufacturing sites in Jeonbuk and Gyeongnam. About 200 attendees, including Lee Do-kyu, head of the MSIT's Information and Communication Policy Bureau, Park Yoon-kyu, head of the Korea Information and Communication Industry Promotion Agency, and lawmakers Jeong Dong-young and Choi Hyung-doo, participated in the event to discuss the project's direction and the five-year roadmap from 2026 to 2030.Lee stated, "The physical AI concept verification project initiated last year served as a starting point. Through this, we confirmed the importance of physical AI and demonstrated its practical utility in industrial settings."Park added, "We started in factories, but we hope to innovate beyond factories to hospitals, homes, warehouses, and other areas where physical AI can be applied for the first time globally."MSIT plans to establish a comprehensive R&D system for physical AI by linking manufacturing data, AI models, digital twins, and robot and equipment control with on-site verification in Jeonbuk and Gyeongnam.In Jeonbuk, the project will focus on developing and validating core physical AI technologies tailored for manufacturing and logistics through the 'Collaborative Intelligence Physical AI-based Software (SW) Platform R&D and Ecosystem Development' initiative. A total of 736.8 billion won will be invested over five years until 2030. MSIT aims to challenge the integration of the entire factory into a single system, known as 'factory orchestration,' beyond just collaboration among heterogeneous robots and equipment.In Gyeongnam, the initiative will promote the 'Human-AI Collaborative LAM Development and Global Verification' project. This will involve developing precision control physical AI technologies that enable collaboration between humans and AI in manufacturing settings. A total of 676.3 billion won will be invested over five years from this year until 2030, focusing on securing high-quality manufacturing data and connecting physical AI technology development with process verification.Lee emphasized, "The results of the technology development and on-site verification starting in Jeonbuk and Gyeongnam will spread to manufacturing sites nationwide and ultimately lead to a new industrial competitiveness that exports South Korea's 'K-manufacturing factories' to the global market." 2026-09-16 16:48:00
  • ByteDances Zhang Yiming Becomes Asias Richest Person
    ByteDance's Zhang Yiming Becomes Asia's Richest Person ByteDance founder Zhang Yiming has become the richest person in Asia for the first time, driven by the rapid growth of the company's artificial intelligence (AI) ventures, surpassing traditional industry tycoons.According to the Bloomberg Billionaires Index on September 16, Zhang's net worth has exceeded $105 billion, overtaking Indian billionaire Gautam Adani, who previously held the top spot. This marks the first time Zhang has claimed the title of Asia's richest.Since Bloomberg began tracking his wealth in March 2019, Zhang's fortune has increased nearly eightfold from $13 billion. Notably, he gained over $12 billion just this month. The global popularity of TikTok, along with ByteDance's expansion into AI, has fueled this surge in wealth.ByteDance, the parent company of the widely popular short-form video platform TikTok, has made significant strides in the AI sector with the introduction of the AI chatbot Doubao and the video generation AI Sidance. Bloomberg noted that Zhang's rise reflects a trend where new wealth from the AI industry is beginning to outpace traditional industries such as energy and retail.Omdia analyst Lian Jie Su explained that even as U.S. lawmakers raised concerns about TikTok's operations in the country in 2023, ByteDance expanded its investments in AI technology. He pointed out that while ByteDance's success in video platforms presents significant growth opportunities for AI-related products and services, increasing competition within China poses substantial risks.Meanwhile, Adani, who previously held the title of Asia's richest, has seen his wealth decline recently. He is the founder of the Adani Group, India's largest infrastructure conglomerate, which has grown through ports, airports, power, transmission networks, renewable energy, and logistics. Adani's fortune peaked at $120 billion in June but has since been affected by a rebalancing of stocks in the Morgan Stanley Capital International (MSCI) index, which impacted the share prices of Adani's companies. Analysts attribute this decline to rising oil prices and increased bond yields, contributing to a broader sell-off in the stock market. 2026-09-16 16:44:00
  • KOSPI Rises Over 1% After Four Days of Decline, Driven by Institutional Buying
    KOSPI Rises Over 1% After Four Days of Decline, Driven by Institutional Buying The KOSPI halted a four-day decline, rebounding by more than 1%. With the possibility of a rate hike by the U.S. Federal Open Market Committee (FOMC) in September largely priced in, institutional investors made net purchases exceeding 1.4 trillion won, responding to perceptions of an excessive drop following recent declines. Stocks in the semiconductor sector, including Samsung Electronics and SK Hynix, led the index's rise.On September 16, the Korea Exchange reported that the KOSPI closed at 6,717.97, up 90.71 points (1.37%) from the previous trading day.The index opened at 6,611.24, down 16.02 points (0.24%), but fluctuated in early trading before turning upward. At one point, it rose to 6,717.97, an increase of 90.71 points (1.37%) from the previous day.In the securities market, institutions made net purchases of 1.4351 trillion won, while individual and foreign investors sold off 1.6794 trillion won and 1.4130 trillion won, respectively.Among the top market capitalization stocks, Samsung Electronics rose by 2.01%, SK Hynix by 3.91%, SK Square by 1.80%, Samsung Electro-Mechanics by 4.25%, LG Energy Solution by 0.14%, KB Financial by 0.28%, and Samsung C&T by 1.59%. Conversely, Hyundai Motor fell by 1.50%, Samsung Biologics by 0.21%, and Samsung Life by 0.70%.The KOSDAQ index closed at 815.98, up 3.57 points (0.44%) from the previous trading day.In the KOSDAQ market, individuals and institutions made net purchases of 41.9 billion won and 21.4 billion won, while foreign investors sold off 65.5 billion won.Among the top market capitalization stocks, Alteogen fell by 1.73%, EcoPro by 2.73%, EcoPro BM by 2.24%, Rainbow Robotics by 1.85%, and Roboteers by 5.08%. In contrast, JUSUNG Engineering rose by 4.25%, Wonik IPS by 9.23%, EO Technics by 4.14%, Rino Technology by 2.18%, and Simtec by 3.43%.Lee Kyung-min, a researcher at Daishin Securities, noted, "The market experienced a decline of about 5.8% (406 points) over four trading days, leading to a perception of excessive short-term losses. The possibility of a 25 basis point hike by the FOMC in September has already been largely reflected in interest rates and stock prices since last week."He added, "As the market perceives this as a phase of 'pre-event pricing followed by event digestion,' funds that had previously reduced their positions ahead of the results are being reinvested, along with buying to recover from losses. The market's focus is shifting from the rate decision itself to the Summary of Economic Projections (SEP) and language regarding further rate hikes, supporting the sentiment that 'the decision itself is not a surprise.'"Lee emphasized the need to pay attention to the FOMC results and the level of the SEP, stating, "If the pressure from rising bond yields due to a hawkish stance surpasses its peak, it could strengthen the momentum of the stock market's rebound."* This article has been translated by AI. 2026-09-16 16:36:00
  • Delay in U.S. Investment Report to National Assembly Postpones MOU Signing
    Delay in U.S. Investment Report to National Assembly Postpones MOU Signing The government has confirmed that the report to the National Assembly regarding the first U.S. investment project, originally scheduled for September 17, has been postponed. Consequently, the signing of a memorandum of understanding (MOU) between South Korea and the U.S., anticipated for September 18, is also expected to be delayed.On September 16, political sources indicated that the Ministry of Trade, Industry and Energy requested the postponement of the report to the National Assembly's Committee on Trade, Industry, Energy, Small and Medium Enterprises and the Committee on Finance and Economy. Initially, the ministry planned to provide a confidential report on the details of the first U.S. investment project to the two committees. The ministry is now expected to visit the National Assembly on September 22 to present the relevant information.Speculation regarding the reason for the postponement suggests that South Korea and the U.S. may not have reached a consensus during the final negotiations on the U.S. investment. The two countries are reportedly continuing discussions on the commercial viability of the Alaska liquefied natural gas (LNG) development project and potential follow-up investment projects, including equity investment in the U.S. nuclear firm Westinghouse.A lawmaker from the finance committee stated in a phone interview with Aju Economy, "It seems the meeting was canceled in a hurry. There may still be coordination needed with the U.S.," adding that the new schedule for the report has not yet been precisely determined.With the postponement of the government report to the National Assembly, the anticipated MOU signing and project announcement on September 18 are also likely to be delayed. A ministry official remarked, "We are currently in close consultations with the U.S. regarding the investment. While finding common ground is taking time, we will do our utmost to negotiate from the perspective of national interest."To finalize the U.S. investment project, the process requires review by the 'Korea-U.S. Strategic Investment Project Management Committee,' chaired by the Minister of Trade, and deliberation and approval by the 'Korea-U.S. Strategic Investment Operation Committee,' chaired by the Minister of Economy and Finance, before reporting to the National Assembly.* This article has been translated by AI. 2026-09-16 16:36:00
  • Shinhan Bank Launches SOL Trip & J Check Event for Japan Travel
    Shinhan Bank Launches 'SOL Trip & J Check' Event for Japan Travel Shinhan Bank announced on September 16 that it will hold the "SOL Trip & J Check, It's Different When You Make It Now" event, offering various benefits to new customers of its Japan travel-focused check card, the 'SOL Trip & J Check,' and to customers using the card overseas. The event will run until November 30.The event is open to new customers aged 19 and older who apply for the 'SOL Trip & J Check.' The first 40,000 customers who make a purchase of 1,000 won or more domestically after issuing the card will receive 5,000 My Shinhan Points.Existing customers of the SOL Travel series check cards can also participate in the event by applying for an additional 'SOL Trip & J Check.'A Shinhan Bank official stated, "We will continue to introduce products and benefits that reflect our customers' travel preferences and diverse overseas payment needs."Meanwhile, the 'SOL Trip & J Check,' launched in April, is a check card designed with benefits specifically for travelers to Japan. Since its launch, over 70,000 cards have been issued.* This article has been translated by AI. 2026-09-16 16:36:00
  • SK Hynix Partners with Intel to Produce Advanced Memory in the U.S.
    SK Hynix Partners with Intel to Produce Advanced Memory in the U.S. SK Hynix is collaborating with Intel to produce advanced memory chips in the United States. This initiative aims to quickly establish a local supply base to meet the surging demand for artificial intelligence (AI) semiconductors from global tech giants. According to industry sources and foreign media on September 16, SK Hynix is in discussions to lease some production lines at Intel's semiconductor manufacturing facility under construction in Ohio to produce memory chips. The company is also seriously considering forming a joint venture with major cloud tech firms to jointly operate local production infrastructure. This move is seen as a strategy to secure a foothold in the U.S. supply chain for high-performance AI memory, such as high-bandwidth memory (HBM). Establishing a new semiconductor fabrication plant typically requires several years and tens of trillions of won in investment, but utilizing Intel's Ohio facility could significantly accelerate the production timeline. This approach is well-suited to respond promptly to the demands of big tech clients in the rapidly changing AI chip market. By forming a joint venture with big tech partners, SK Hynix can mitigate substantial initial investment risks while ensuring a stable supply of memory for data center construction in the U.S. Intel would also benefit from increased utilization of its Ohio facility and secure funding for its investments. If SK Hynix begins mass production of memory in the U.S., it will mark the first instance of a South Korean semiconductor company producing advanced memory chips on American soil. This would position the company at the center of the U.S. AI supply chain while allowing for a flexible localization strategy that adapts to the trade environment.* This article has been translated by AI. 2026-09-16 16:32:00
  • KakaoX CEO Appointee Kim Do-young: Establishing AI Identity Through Spin-off
    KakaoX CEO Appointee Kim Do-young: 'Establishing AI Identity Through Spin-off' Kakao is actively engaging with minority shareholders ahead of its planned spin-off. Following the announcement of the spin-off, concerns about the division ratio and potential damage to shareholder value have arisen, prompting the company to directly address these issues. Kim Do-young, the designated CEO of KakaoX and current head of Kakao Group's investment strategy, held an online meeting with minority shareholders on September 16, explaining that the spin-off aims to clarify the growth strategies and resource allocation for both KakaoX and KakaoAI."The goal is to establish a clear identity for our AI business so that we can be recognized as an AI company in the market, thereby enhancing shareholder value," Kim stated. He outlined plans to eliminate the conglomerate discount and accelerate growth for each business segment.The meeting included Kim Do-young, designated CEO of KakaoX, Shin Jong-hwan, CFO, Jeon Hyun-soo, head of business operations, and Hwang Yu-seon, head of growth strategy.Kim noted, "Since the announcement of the spin-off, we have conducted investor relations with both domestic and international institutional investors to gather various opinions. We have incorporated shareholders' inquiries into this explanation."He explained that the purpose of the spin-off is to optimize resource allocation and strategic execution by business area, while also clarifying KakaoAI's identity. The aim is to establish a foundation for KakaoAI to be recognized as an AI company in the market and ultimately increase shareholder value.Kakao cited the need to address the conglomerate discount, reassess its AI business, and improve decision-making and capital allocation efficiency as reasons for pursuing the spin-off. Over the past five years, 23 out of 27 non-routine agenda items discussed by the board were related to subsidiary support and restructuring, accounting for 85%, which hindered Kakao's ability to focus on its core business and investments.Kakao presented a combined business value of 34.2 trillion won, with an average market capitalization of 16.8 trillion won over the past three months, indicating a significant undervaluation of the company.KakaoX will focus on the growth of its tech-finance, content, and mobility subsidiaries, as well as investments in new businesses and innovative companies. KakaoAI will expand its revenue models based on AI, particularly in advertising and commerce, centered around KakaoTalk. KakaoX and its major subsidiaries will utilize over 6.4 trillion won in investment resources, while KakaoAI plans to concentrate on AI investments based on an annual EBITDA generation capacity of over 700 billion won.Kakao aims to increase combined revenue from 8.3 trillion won in 2025 to over 16 trillion won by 2030, with KakaoX targeting over 10 trillion won and KakaoAI aiming for over 6 trillion won.The shareholder return policies will be differentiated according to the business characteristics of both companies. KakaoX plans to use 30% of the after-tax dividends received from subsidiaries for dividends and share buybacks or retirements, and will consider special shareholder returns when investment gains occur. The company also plans to conduct a total of 300 billion won in share buybacks and retirements over the three years following the spin-off.KakaoAI intends to allocate 20-35% of its adjusted free cash flow for basic shareholder returns, with plans to increase the return rate to a maximum of 40% if free cash flow increases by over 50% compared to the previous year.Kakao plans to finalize the spin-off with a temporary shareholders' meeting on December 17, 2026, and execute the division on January 1, 2027, with KakaoX's new listing and KakaoAI's relisting scheduled for January 27 of the same month.* This article has been translated by AI. 2026-09-16 16:24:00