AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Public Submissions on Real Estate Policy Reach 7,476, with Housing Finance Leading at 39%
    Public Submissions on Real Estate Policy Reach 7,476, with Housing Finance Leading at 39% The government received a total of 7,476 opinions through its online platform, 'realestateforum.kr', aimed at gathering public feedback on real estate policy. Opinions related to housing finance accounted for the largest share at 39%. The Ministry of Finance announced on July 31 that the operation of realestateforum.kr would conclude at midnight. As of midnight on July 30, the platform had approximately 43,000 visitors. The breakdown of submissions showed that housing finance received 2,943 opinions (39%), followed by housing supply with 2,381 (32%), and real estate taxation with 2,152 (29%). The government plans to review the submitted opinions by relevant departments and utilize them in the future formulation of real estate policy. While the dedicated website will be closed, the collection of public opinions on real estate policy will continue through other channels. Comments regarding tax reform can be submitted through the National Participation Legislative Center once the legislative notice process begins. The Ministry of Finance will provide a direct link from the website to the National Participation Legislative Center. Opinions submitted during the legislative notice period will be considered before the finalization of the legislation. Feedback related to housing supply and housing finance can be submitted at any time through the National Ombudsman.* This article has been translated by AI. 2026-07-31 09:00:20
  • Kias Green Light Project Achieves Success in Albania and Zimbabwe
    Kia's Green Light Project Achieves Success in Albania and Zimbabwe Kia announced on July 31 that it has successfully completed its Green Light Project initiatives in Albania and Zimbabwe, transferring operational authority to local communities.The Green Light Project is Kia's flagship social contribution initiative, launched in 2012 across 19 locations in 15 countries in Africa, Europe, and Asia. With this transfer, Albania and Zimbabwe become the 13th and 14th self-sustaining sites of the project.Since 2023, Kia has established a treatment center for children with disabilities in the Librazhdi region of Albania, providing rehabilitation therapy and caregiver training, benefiting approximately 4,300 individuals. The project also supports the production and distribution of local specialties for families of children with disabilities, helping to establish economic independence.In Zimbabwe's Wedza region, Kia has developed solar-powered water facilities, irrigation systems, and fish farms, contributing to improvements in labor infrastructure, including support for mining equipment. The initiative has also provided self-sufficiency training to around 34,000 residents.Lee Deok-hyun, Executive Director of Kia's Sustainable Management Office, stated, "The core of the Green Light Project is to enable sustainable operations led by local communities even after the project period ends. We will continue to support the remaining five sites until next year and actively work to address global social issues."Meanwhile, Kia continues its various social contribution activities both domestically and internationally, including the 'Green Travel' program supporting travel for people with disabilities and the 'Harmony' program assisting multicultural youth in entering society.* This article has been translated by AI. 2026-07-31 09:00:00
  • Actress Kim Min-ha to host this falls Busan film fest
    Actress Kim Min-ha to host this fall's Busan film fest SEOUL, July 31 (AJP) - Actress Kim Min-ha will host the opening ceremony of this year's Busan International Film Festival, to be held this fall in the southern port city. Organizers of the annual festival, now in its 31st year, said Friday that the rising actress has been chosen as the sole host of the ceremony. Since making her acting debut in 2016, she gained widespread recognition for her role in Apple TV+'s drama series "Pachinko" in 2022 and has since appeared in various projects, building a solid career across both film and television. She has recently generated buzz on social media for her noticeably slimmer physique, having reportedly lost about 17 kilograms. The festival runs from Oct. 6 to 15. 2026-07-31 08:55:02
  • Samsung Electronics and SK Hynix Surge in Pre-Market Trading Amid U.S. Semiconductor Rally
    Samsung Electronics and SK Hynix Surge in Pre-Market Trading Amid U.S. Semiconductor Rally Samsung Electronics and SK Hynix experienced significant gains in pre-market trading on July 31.According to NextTrade, as of 8:37 a.m., SK Hynix shares rose by 207,000 won (15.66%) to 1,529,000 won. Samsung Electronics also saw an increase of 27,500 won (13.29%), trading at 234,500 won.The surge in domestic semiconductor stocks follows a rebound in U.S. semiconductor shares, which has improved investor sentiment. Analysts suggest that the recent sharp declines in stock prices have led to a wave of bargain hunting, particularly among heavily sold-off stocks.On July 30, all three major U.S. stock indices closed higher. The S&P 500 rose by 121.48 points (1.66%) to close at 7,437.63, while the tech-heavy Nasdaq Composite surged by 679.24 points (2.78%) to finish at 25,122.18. The Dow Jones Industrial Average increased by 613.92 points (1.19%) to end at 52,208.06.Notably, semiconductor stocks saw a remarkable increase, with the Philadelphia Semiconductor Index soaring by 8.2%. Micron shares jumped 18%, SanDisk surged 26%, and AMD rose by 13%.* This article has been translated by AI. 2026-07-31 08:52:00
  • U.S. Stocks Surge on Microsoft Earnings and Semiconductor Rally; KOSPI Set for Rebound
    U.S. Stocks Surge on Microsoft Earnings and Semiconductor Rally; KOSPI Set for Rebound The U.S. stock market closed sharply higher, buoyed by strong earnings from Microsoft and a significant rebound in semiconductor stocks. As concerns over a slowdown in the artificial intelligence (AI) investment cycle eased, the South Korean market is expected to attempt a strong rebound, particularly in semiconductor stocks.On July 30, the Dow Jones Industrial Average rose by 613.92 points (1.19%) to close at 52,208.06. The S&P 500 gained 121.48 points (1.66%) to finish at 7,437.63, while the tech-heavy Nasdaq Composite climbed 679.24 points (2.78%) to end at 25,122.18.The market rally was driven by the strong performance of AI leader Microsoft, which reported earnings that exceeded market expectations, leading to a 15.51% surge in its stock. This positive momentum also lifted semiconductor stocks, with Micron rising 18.36%, SanDisk up 25.99%, AMD increasing by 13.00%, and Intel gaining 11.30%. The Philadelphia Semiconductor Index saw an 8.19% increase. In contrast, Meta Platforms fell 7.95% due to concerns over profitability amid increased capital expenditures this year.The South Korean stock market is also expected to start strong, led by semiconductor stocks.As of 8:32 a.m., pre-market trading on NextTrade showed Samsung Electronics up 14.25% and SK Hynix rising 17.10%. Other major stocks, including SK Square (16.40%), Samsung Electro-Mechanics (16.15%), Samsung Life Insurance (10.80%), Samsung C&T (9.69%), Hyundai Motor (5.70%), LG Energy Solution (3.44%), and KB Financial (1.49%), also showed strong gains.Analysts believe that as concerns over the slowdown in the AI investment cycle and semiconductor de-leveraging ease, the South Korean market is likely to attempt a technical rebound.Han Ji-young, a researcher at Kiwoom Securities, stated, "The earnings reports from Microsoft and Meta have significantly alleviated concerns about profitability in the AI sector. Coupled with expectations that large hedge funds will end their de-leveraging, U.S. semiconductor stocks have rebounded sharply. The South Korean market is also expected to attempt a rebound, supported by expectations of easing semiconductor de-leveraging and strong performance in KOSPI 200 night futures."He added, "During the recent sharp decline, the market influence of single-stock leveraged products has diminished significantly. The visibility of semiconductor performance is improving through Samsung Electronics' conference call and the capital expenditure expansion trend among global big tech companies. Considering the potential for the end of semiconductor de-leveraging and the perception of excessive declines, the market is transitioning to a phase where upward factors are dominant."* This article has been translated by AI. 2026-07-31 08:48:00
  • SK Group Chairman Chey Tae-won Makes Major Purchase of SK Hynix Shares
    SK Group Chairman Chey Tae-won Makes Major Purchase of SK Hynix Shares 최태원 SK그룹 회장이 처음으로 SK하이닉스 주식을 직접 매입했다. According to industry sources, Chey purchased 3.62 trillion won worth of SK Hynix shares, equivalent to 4.8 billion won, on July 30. Under the insider trading pre-disclosure system, executives or major shareholders of listed companies must disclose their trading plans 30 days in advance if they intend to buy or sell shares that exceed 1% of the total issued shares or 5 billion won in transaction value over the past six months and the upcoming trading period. The obligation to disclose is waived if the transaction volume is less than 1% of the total issued shares and the transaction value is below 5 billion won. This requirement to aggregate transaction amounts over the past six months is intended to prevent so-called "split trading" to evade disclosure obligations. As a result, the amount Chey can purchase without prior disclosure in the next six months is limited to 5 billion won, excluding the current purchase. To buy more than this amount, he would need to disclose a trading plan if the cumulative transaction value exceeds 5 billion won, and the actual purchase would be possible at least 30 days after the disclosure. This transaction represents the maximum scope that can be executed without separate prior disclosure under the current pre-disclosure system. It is seen as a prompt way to convey his commitment to responsible management while adhering to existing procedures. Chey reportedly decided to make this stock purchase based on his belief in the value of the semiconductor business and his assessment that SK Hynix's stock price is currently undervalued. According to disclosures, SK Square is currently the largest shareholder of SK Hynix, holding a 20% stake. Besides Chey’s 3,620 shares, Kwak Noh-jung, CEO of Hynix, owns 14,312 shares, and Cha Sun-yong, head of the Future Technology Research Institute, holds 6,834 shares.* This article has been translated by AI. 2026-07-31 08:48:00
  • Koreas June factory output hits 6-year high, chip lifts domestic front
    Korea's June factory output hits 6-year high, chip lifts domestic front SEOUL, July 31 (AJP) - South Korea's factory output soared to a six-year high in June as robust automobile demand complemented chip activity, lifting the broader domestic economy. Mining and manufacturing output climbed 5.8 percent from May and 6.4 percent from a year earlier, the strongest monthly performance since June 2020, according to data released Friday by the Ministry of Data and Statistics. The rebound followed a revised 2.9 percent decline in May. Automobile production surged 15.4 percent from the previous month and 12.6 percent from a year earlier, returning to double-digit annual growth after contracting for two consecutive months. Semiconductor production rose 4.5 percent from May and 2.2 percent from a year earlier. While the monthly gain accelerated from May's 1.5 percent increase, annual growth remained far below April's 13.3 percent pace, suggesting chip output is stabilizing after an exceptionally strong run. Reflecting the broader recovery, overall industrial production excluding agriculture, forestry and fisheries increased 2.3 percent from the previous month and 4.2 percent from a year earlier. Domestic demand also showed signs of strengthening. Retail sales rose 2.7 percent from May, marking the strongest increase in five months as household spending improved despite persistent inflation. Facility investment climbed 5.8 percent from the previous month, the fastest increase in four months, and jumped 21.7 percent from a year earlier as semiconductor makers continued expanding production capacity. Construction completed, a gauge of current building activity, also increased 4.1 percent from May. Despite the strong June rebound, manufacturing output grew about 2.0 percent in the April-June quarter from the previous three months, easing from 2.7 percent growth in the first quarter, indicating that industrial momentum moderated on a quarterly basis even as June capped the period on a strong note. Retail sales increased to a five-month high of 2.7 percent amid income increase despite inflationary pressure. Facility investment rose to a four-month high of 5.8 percent and jumped 21.7 percent on year amid active chip expansion. Construction completed gained 4.1 percent from the previous month. The manufacturing output April-June period slowed to on-quarter 2-percent growth, slowing from 2.7 percent in the previous three-month period. 2026-07-31 08:46:18
  • Samsung Expands Supply of Home EHS Heat Pump Boilers to Target High-Efficiency Heating Market
    Samsung Expands Supply of Home EHS Heat Pump Boilers to Target High-Efficiency Heating Market Samsung Electronics is intensifying its efforts in the high-efficiency heating solutions market by installing home EHS heat pump boilers in single-family homes in Jeju Island.On June 25, Samsung installed an EHS heat pump boiler in a home in the Aewol area of Jeju, and on June 30, the company held a ceremony to announce the expansion of its supply at the same residence.The EHS heat pump boiler is an integrated solution that absorbs heat from the outside air and amplifies it using electricity for indoor heating and domestic hot water. Unlike traditional boilers that directly burn fuel, this system utilizes ambient air heat to produce more thermal energy than the electricity consumed.The product's Seasonal Coefficient of Performance (SCOP) recorded 4.9 under conditions of 35 degrees Celsius, typically used for underfloor heating. This indicates that it can generate nearly five times the heating energy compared to its power consumption. Even under conditions requiring higher hot water temperatures of 55 degrees Celsius, it maintains an SCOP of 3.78.The SCOP is calculated by dividing the total annual heating energy by the power consumption, with higher values indicating greater heating efficiency. Actual efficiency may vary based on external temperatures, installation environments, and usage methods.The system is designed to provide stable heating performance even in low winter temperatures. It employs high-efficiency refrigerant compression technology, allowing it to supply hot water at temperatures up to 70 degrees Celsius, even when external temperatures drop to minus 15 degrees Celsius.To prevent pipe freezing and outdoor unit icing, the system has been enhanced with features such as an electric heater and anti-freezing valve inside the outdoor unit, as well as a separate heater at the bottom of the product to facilitate smooth drainage. These measures aim to reduce the risk of heating interruptions and product failures due to winter icing.Customers can operate key functions through a touch display on the heat pump's exterior. By using Samsung's SmartThings app, they can monitor indoor and outlet temperatures and control the product remotely.Samsung expects that the home heat pump boiler will meet the dual demands of reducing carbon emissions and lowering energy costs. As the transition to eco-friendly electricity generation expands, the carbon reduction effects are expected to increase compared to traditional boilers that directly use fossil fuels.The first customer to install the product, Park Jong-yeon, expressed optimism, stating, "I expect to see cost savings when I start using heating this coming winter. I believe it will also provide convenient hot water access."In line with the growing trend of electrification in heating, Samsung is continuously enhancing the competitiveness of its heat pump-based heating solutions based on differentiated technology.Kim Yong-hoon, Executive Vice President of Samsung Electronics Korea, stated, "The EHS heat pump boiler is a solution with high heating efficiency and stable high-temperature water supply performance. We aim to provide customers with a convenient and efficient experience based on proven technology in real living environments and contribute to the expansion of the high-efficiency heating market."* This article has been translated by AI. 2026-07-31 08:44:00
  • Korea Investment Securities Raises Samsung Electronics Target Price to 650,000 Won
    Korea Investment Securities Raises Samsung Electronics Target Price to 650,000 Won Korea Investment Securities announced on July 31 that it has raised its target price for Samsung Electronics from 590,000 won to 650,000 won, reflecting structural changes in the memory business and the company's shareholder return policy. The firm maintained its 'buy' rating.Chae Min-sook, a researcher at Korea Investment Securities, stated, "While it is difficult to predict when market concerns will ease, the current valuation does not fully reflect the strong performance, cash generation ability, and clear shareholder return policy of the company. It is essential to focus on the long-term corporate value rather than short-term market sentiment."Korea Investment Securities has adjusted its operating profit forecasts for Samsung Electronics upward by 3% and 7% for 2026 and 2027, respectively, considering the expansion of multi-year supply contracts and the potential rise in high-bandwidth memory (HBM) prices in 2027. The company is expected to enhance its market share and profitability based on its production capacity advantage in the general DRAM and NAND flash markets while strengthening its technological competitiveness centered on HBM4. The firm also highlighted the attractiveness of Samsung's policy to return 50% of the free cash flow generated from record-high performance to shareholders.In the second quarter, Samsung Electronics reported sales of 171.5 trillion won and an operating profit of 89.5 trillion won, marking increases of 130% and 1,814%, respectively, compared to the same period last year. The operating profit exceeded market consensus by 5.5%. The semiconductor division accounted for 99.7% of the total operating profit, with operating profit reaching 89.2 trillion won. The average selling prices (ASP) of DRAM and NAND flash increased by mid-40% and high-60%, respectively, compared to the previous quarter, and the foundry business is estimated to have turned profitable, excluding employee performance-related provisions.The shift in the memory business structure towards long-term supply contracts was also viewed positively. Samsung Electronics has signed multi-year contracts of at least five years with five major global hyperscalers and is reportedly in the final stages of contract negotiations with five large AI-related clients.Chae noted, "Multi-year contracts enhance the stability and visibility of the memory business while enabling investment execution based on customer demand, reducing the likelihood of oversupply as seen in the past. The company will focus on balancing production proportions of HBM and general DRAM while prioritizing long-term supply stability and strengthening partnerships with customers over short-term profitability."* This article has been translated by AI. 2026-07-31 08:40:20
  • President Yoon Proposes Expanding LS-Codelco Partnership to Advanced Manufacturing and Defense
    President Yoon Proposes Expanding LS-Codelco Partnership to Advanced Manufacturing and Defense President Yoon Suk Yeol on July 30, local time, presented the joint venture between South Korea's LS Group and Chile's state-owned Codelco as a successful model for cooperation in critical minerals, suggesting its expansion into advanced manufacturing and defense industries.Speaking at the Korea-Chile Business Roundtable held at a hotel in Santiago, Yoon expressed hope that "the joint venture model between LS and Codelco can be further expanded in the future." He emphasized that by joining forces, the two countries could create remarkable synergies across various sectors, including securing critical minerals and building value chains.The event was hosted by South Korea's Ministry of Trade, Industry and Energy and Chile's Ministry of Foreign Affairs, with the Korea Chamber of Commerce and Industry and the Chilean Industrial Association co-organizing. About 30 participants, including executives from 22 major companies in minerals, energy, defense, digital, and distribution sectors, attended.Notable attendees from South Korea included Lee Woo-hyun, Chairman of OCI Holdings; Jang In-hwa, Chairman of POSCO Holdings; Koo Ja-eun, Chairman of LS Group; Choi Yoon-bum, Chairman of Korea Zinc; Ryu Jae-cheol, President of LG Electronics; Jung In-seob, President of Hanwha Ocean; Choi Soo-yeon, CEO of Naver; Jang Jae-hoon, Vice Chairman of Hyundai Motor; and Lee Dong-hoon, CEO of SK Biopharm.From Chile, Rosario Navarro, President of the Chilean Industrial Association, and Susana Jiménez, President of the Chilean Production and Commerce Confederation, were among the executives present, along with leaders from mining companies AMSA and Molymet, steel company CAP, and pulp and timber companies CMPC and Arauco.Yoon noted that the global economy is undergoing a significant transformation marked by supply chain restructuring and technological competition, urging Korea and Chile to create new growth opportunities based on their complementary industrial structures."Chile is a leading producer of lithium and copper, serving as a key supply base for the global green industry," Yoon said, adding that "Korea possesses world-class competitiveness in advanced manufacturing sectors such as batteries, advanced materials, automobiles, semiconductors, and artificial intelligence (AI)." He stated that Chile, rich in critical minerals, and Korea, a powerhouse in advanced manufacturing, are optimal partners for collaboration, especially in the face of a rapidly changing global economic order.According to a written briefing by Chief Spokesperson Kang Yu-jung, business leaders discussed specific cooperation plans focused on three areas: critical minerals, advanced industries and digital technology, and green energy and trade expansion.The LS-Codelco partnership, cited by Yoon as a successful example, operates a precious metal recovery plant in Mejillones, Chile, established as a joint venture where LS MnM holds a 66% stake and Codelco holds 34%. Completed in 2017, the plant processes anode slime, a byproduct of Codelco's copper refining process, to recover high-value metals such as gold, silver, palladium, and platinum. This collaboration is recognized as a prime example of enhancing local value by combining Chilean raw materials with Korean refining technology.LS plans to expand its cooperation with Chile, anticipating increased copper demand due to the expansion of AI data centers and investments in power grids. The company aims to explore joint ventures across the entire supply chain, moving beyond simple mineral imports to include refining and material production.In the defense and shipbuilding sectors, Hanwha Group proposed a collaboration model that positions Chile as a hub for entering the Latin American market. Hanwha suggested joint design and production for Chile's navy submarine and frigate projects, as well as cooperation extending to third-country exports. The two nations' leaders previously welcomed the signing of a contract for the export of Korean military vehicles to Chile and agreed to establish a long-term cooperation foundation in defense and shipbuilding.In the digital sector, Naver proposed building a 'full-stack AI ecosystem' between the two countries, connecting infrastructure such as AI semiconductors and data centers with platforms, large language models (LLMs), and application services.Naver explained that it could combine Chile's experience in developing LLMs based on its native language with Korea's AI technology. The company also highlighted sustainable AI ecosystems, including eco-friendly data centers utilizing Chile's abundant renewable energy.In the green energy sector, OCI Holdings expressed its intention to expand cooperation with Chile based on its experience in solar core materials, generation, and energy storage systems (ESS). The plan includes discovering new investment projects by linking Chile's abundant sunlight and renewable energy resources with Korean companies' technologies.In consumer goods, discussions were held on how small and medium-sized enterprises can enter local distribution networks. The food export company Hosanmulsan announced plans to expand the sales network for Korean food products in collaboration with major local retailers in Chile.The trading company CICD proposed utilizing major drugstores in Chile to supply Korean cosmetics, aiming to use this as a foothold for entering the Latin American market. This initiative seeks to broaden the scope of economic cooperation between the two countries from minerals and manufacturing to consumer goods and culturally linked products.Patricio Torres, Deputy Minister of Foreign Affairs of Chile, noted that as of 2025, Korea ranks as Chile's sixth-largest trading partner globally and third-largest in Asia. He pointed out that while trade between the two countries has increased by an average of 6.1% annually since 2020, there remains significant room for additional cooperation in investment, innovation, and supply chains.The Chilean government plans to send a large-scale public-private economic delegation to Korea in September, involving businesses, economic organizations, and relevant agencies. The delegation aims to discover new projects in trade, investment, technological innovation, new industries, and supply chains, continuing the momentum for cooperation established during the recent summit and roundtable.Rosario Navarro emphasized that cooperation between the two countries should not remain limited to Chile providing resources and Korea supplying technology, stating, "Both countries must become partners in creating new value together."Navarro urged the successful completion of negotiations to modernize the Korea-Chile Free Trade Agreement (FTA), reflecting aspects such as the digital economy, trade facilitation, environment, intellectual property rights, and access to agricultural markets. The two countries agreed to reactivate the FTA Free Trade Committee for the first time in ten years during the summit.Lee Woo-hyun, Chairman of OCI Holdings and head of the Korea-Chile Private Economic Cooperation Committee, remarked, "The two countries share a special relationship as each other's first FTA partner," expressing hope that this meeting would lead to new investments, business opportunities, and a lasting partnership.In closing remarks, President Yoon stated, "We have confirmed that the economic cooperation between our two countries, which began with the FTA, is expanding into minerals and advanced future industries." He added that solidarity among nations sharing common values is becoming increasingly important in overcoming uncertainties in the global economy.Yoon expressed hope that the cooperation ideas shared by business leaders would lead to concrete and tangible results that citizens can feel, assuring that both governments would robustly support businesses in their pursuit of new areas of endeavor.* This article has been translated by AI. 2026-07-31 08:40:00