AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Choi Jung-sik Expands Parliamentary Diplomacy with Meetings in Uzbekistan and Turkmenistan
    Choi Jung-sik Expands Parliamentary Diplomacy with Meetings in Uzbekistan and Turkmenistan Choi Jung-sik, the Speaker of the National Assembly, strengthened parliamentary diplomacy through a series of meetings with the presidents of Central Asian countries visiting South Korea. He emphasized the need to expand not only intergovernmental exchanges but also parliamentary interactions.On September 15, Choi met with Shavkat Mirziyoyev, the President of Uzbekistan, and Serdar Berdymukhamedov, the President of Turkmenistan, to discuss ways to enhance practical cooperation and activate parliamentary exchanges between their countries.Choi highlighted to President Mirziyoyev that South Korea is Uzbekistan's only "special strategic partner." He expressed gratitude for Mirziyoyev's support of the Korean diaspora and urged for cooperation between the two nations' parliaments, as well as interest in the Korea-Central Asia Speakers' Conference."Uzbekistan is home to the largest population of Koreans in Central Asia, with 170,000 residents. I appreciate your active support for projects like the establishment of a Korean history museum," Choi said. In response, President Mirziyoyev stated, "South Korea is a valuable partner of Uzbekistan, with whom we have built trust over many years," and pledged to create a favorable environment for South Korean companies to operate more actively.Following this, during his meeting with President Berdymukhamedov, Choi expressed sincere gratitude for the support provided to ensure the safe evacuation of citizens in Iran last year and this year, hoping that this visit would further develop bilateral relations.Choi mentioned Turkmenistan's efforts to position itself as a logistics hub in Eurasia through the "Revival of the Great Silk Road" initiative, stating, "I will actively support the realization of practical outcomes by leveraging South Korea's advanced technology and Turkmenistan's abundant resources."In turn, President Berdymukhamedov emphasized the importance of strengthening relations with South Korea and expressed his commitment to enhancing cooperation between the two countries' parliaments.* This article has been translated by AI. 2026-09-15 18:20:10
  • Complete GMO Labeling Requirement Approaches, Food Industry on Edge
    Complete GMO Labeling Requirement Approaches, Food Industry on Edge The impending implementation of complete labeling for genetically modified organisms (GMO) by the end of the year is raising tensions within the food industry. The new standards for soy sauce will take effect on December 31, while the Ministry of Food and Drug Safety is considering moving up the timeline for sugar and oilseed products from the previously scheduled December 31, 2027, to this year, increasing the pressure on companies to prepare.According to industry sources, the expanded GMO labeling requirements will apply to soy sauces, including Korean and brewed soy sauces, starting December 31. The Ministry is pushing for a revised plan that would accelerate the implementation of labeling for sugars, such as syrup, fructose, and glucose, as well as for oils like soybean, corn, and canola.The new regulations will focus on whether GMO ingredients were used in the manufacturing and processing stages, rather than detecting GMO DNA or proteins in the final products. This means that even refined products like oils and soy sauces must be labeled if they contain GMO ingredients.Industry experts believe that transitioning to Non-GMO ingredients within a few months is unrealistic. Grain ingredients like soybeans and corn typically require purchasing contracts months to a year in advance, and securing Non-GMO supplies often involves contracts with producers before planting. Additionally, the global availability of Non-GMO supplies is limited, and they often come at a higher cost.As a result, major companies are focusing on applying the labeling standards to existing products that use GMO ingredients rather than switching to Non-GMO ingredients immediately. They are conducting thorough checks on the GMO status of ingredients for each product and obtaining relevant documentation from suppliers, while also reviewing their management systems to ensure traceability from ingredient receipt to storage and production.Changing packaging materials presents another significant challenge. Products subject to labeling will need to incorporate new GMO-related language, necessitating design modifications, printing work, and new packaging orders. Companies must also coordinate when to deplete existing packaging stock and when to introduce new materials, which adds complexity for large food manufacturers with hundreds of items or smaller companies with limited staff.One industry representative stated, "If we start transitioning to Non-GMO ingredients now, we would have to begin securing supplies from scratch, making it difficult to meet the year-end deadline. It is more realistic to comply with the established labeling standards and then assess consumer reactions and supply conditions before deciding on a transition."Consumer response will be a key variable moving forward. If resistance to GMO labeling increases, demands for Non-GMO transitions may rise for certain products. This would require not only changing labeling but also revisiting ingredient sourcing, supplier contracts, and production management. The higher costs associated with Non-GMO ingredients and the challenges of securing stable supplies could further strain budgets.In light of these challenges, the Korea Food Industry Association has identified minimizing the burden of the complete GMO labeling requirement as a key regulatory response for this year. Park Jin-sun, president of the association, noted, "It is difficult to secure Non-GMO ingredients globally, and the issue is not just price increases but the availability of supplies. Moreover, it is challenging to verify the GMO status of imported products, which means only domestic food companies may be subject to these regulations." 2026-09-15 18:20:10
  • Kyobo Life to Absorb Kyobo Life Planet, Merger Expected by April Next Year
    Kyobo Life to Absorb Kyobo Life Planet, Merger Expected by April Next Year 교보생명이 인터넷 생명보험 자회사 교보라이프플래닛생명보험을 흡수합병한다. 지난 2013년 국내 최초 인터넷 전업 생명보험사로 출범한 지 13년 만이다. 교보생명은 15일 이사회를 열고 라이프플래닛의 기존 사업과 인력을 흡수합병하는 안건을 의결했다고 밝혔다. 라이프플래닛도 이날 이사회를 열어 합병안을 의결했다. 양사는 금융당국의 합병 인가 등 필요한 절차를 거쳐 내년 4월 합병을 완료할 예정이다. 교보생명은 라이프플래닛 지분 100%를 보유하고 있어 이번 합병은 신주를 발행하지 않는 무증자 방식의 소규모 합병으로 진행된다. 교보생명은 합병 이후 독립사업부인 '라이프플래닛사업부'(가칭)를 신설한다. 라이프플래닛 브랜드를 유지하고, 기존 디지털 역량을 보험사업 전반에 활용할 계획이다. 라이프플래닛의 기존 고객은 합병 이후에도 앱과 홈페이지를 통해 보험계약과 서비스를 계속 이용할 수 있다. 2013년 출범한 라이프플래닛은 국내 최초 인터넷 생명보험사다. 올해 6월 말 기준 고객은 23만여명, 총자산은 5273억원이다. 올해 상반기 보험수익은 91억원, 지급여력(K-ICS) 비율은 162.97%다. 이번 합병에는 인공지능(AI) 등 신기술 발전에 따라 기술과 인프라에 대한 대규모 투자가 중요해진 점이 영향을 미쳤다. 별도 법인으로 디지털 사업을 운영하기보다 양사의 역량을 결집해 자본 효율성을 높이고 지속 가능한 디지털 경쟁력을 확보하겠다는 판단이다. 새 회계제도 IFRS17 도입과 신지급여력제도(K-ICS·킥스) 등 보험산업의 규제 환경 변화도 이번 합병의 배경으로 작용했다. 도입 이후 보험사들이 미래이익 지표인 보험계약서비스마진(CSM) 확보에 집중하고 있지만, 디지털 보험사가 주로 판매해 온 소액·단기보험은 장기 보장성보험보다 수익성 측면에서 불리하다는 설명이다. 교보생명 관계자는 "보험산업의 규제 환경이 바뀐 이후 이사회에서 수차례에 걸쳐 고객보장 실천을 위한 최선의 방안을 논의했으며 최종적으로 흡수합병을 결정했다"며 "통합 과정에서도 기존 고객의 계약과 서비스를 안정적으로 유지해 고객보장의 혜택을 극대화할 수 있도록 노력하겠다"고 말했다.* This article has been translated by AI. 2026-09-15 18:20:00
  • CJ Olive Young Launches Mobile Skin Diagnosis Service for Personalized Care
    CJ Olive Young Launches Mobile Skin Diagnosis Service for Personalized Care CJ Olive Young is expanding its in-store skin diagnosis service to mobile, enhancing the shopping experience across online and offline channels.On September 15, Olive Young announced the launch of a mobile skin diagnosis service that allows customers to assess their skin condition and receive personalized skincare recommendations via their smartphones.The mobile skin diagnosis is an extension of the in-store experiential beauty service 'Skin Scan.' Customers can check their skin status and receive tailored skincare routines and product suggestions without visiting a store.The service involves completing an electronic questionnaire about skin condition, followed by taking a photo of the face or uploading an existing image. Artificial intelligence (AI) analyzes the skin, providing results on various factors such as skin type, pores, pigmentation, moisture levels, oiliness, and wrinkles. It also recommends products and care methods suited to the user's skin concerns. Customers can retake the assessment as needed to monitor changes in their skin due to seasonal or lifestyle factors.Olive Young introduced the Skin Scan service in major stores starting with Starfield Goyang in 2024. By the end of last year, the service was integrated with the app, allowing users to access diagnosis results and personalized care information, and now it includes mobile skin measurement capabilities.To celebrate the launch, customers who complete the mobile skin diagnosis by September 30 will receive discounts on skincare products. Those who sign up for re-diagnosis notifications will earn Olive Points, and customers presenting the mobile skin diagnosis screen at major stores will receive a basic skincare sample kit with purchases over 30,000 won, while supplies last.An Olive Young representative stated, "We have enabled customers to utilize skin care services flexibly between mobile and in-store. We will continue to expand personalized shopping experiences that connect online and offline channels."Meanwhile, Olive Young is strengthening its presence in the domestic health and beauty (H&B) market with over 1,300 stores nationwide and services like 'Today Dream' that integrate online and offline shopping.* This article has been translated by AI. 2026-09-15 18:20:00
  • FILA and WOODZ Launch First Special Edition Collaboration
    FILA and WOODZ Launch First Special Edition Collaboration Mistokorea, the operator of the Italian sports apparel and footwear brand FILA, has unveiled its first special edition in collaboration with brand model and singer WOODZ, expanding its product offerings.On September 15, FILA announced the release of the 'FILA+WOODZ' special edition. The clothing item 'Airflow Lightweight Down' and the shoe 'Harepin,' which sold out during the pre-sale, will be released sequentially, along with plans for related regular products.This edition features a silver-colored Airflow Lightweight Down and a gray Harepin, both adorned with the WOODZ logo.The first product, the Airflow Lightweight Down, began sales on FILA's official online store on September 10. This item, which recorded a sell-out during its pre-sale in July, was reintroduced with the WOODZ logo and sold out within an hour of its release.The second product, the Harepin, will be exclusively launched on September 21 at FILA's official online store. It features a suede material and a Vibram outsole for excellent traction, along with a dedicated shoe package.Following the special edition, FILA plans to release regular products sequentially. The regular version of the Airflow Lightweight Down, worn by WOODZ, will be unveiled on September 17, with a promotional event offering gifts to customers who make purchases. The regular version of the Harepin is set to launch in October.A representative from Mistokorea stated, 'With this special edition, we aim to provide consumers with a variety of styles and new product experiences.'Meanwhile, Mistoholdings reported a strong performance from its key subsidiaries and a recovery in the FILA business, achieving second-quarter revenues of 1.4312 trillion won and an operating profit of 295.2 billion won, marking growth of 17% and 62%, respectively, compared to the same period last year.* This article has been translated by AI. 2026-09-15 18:16:00
  • Aftermarket Update: Battery Stocks Rise, Semiconductor Shares Decline
    Aftermarket Update: Battery Stocks Rise, Semiconductor Shares Decline In the aftermarket of the Korea Exchange (KRX), battery stocks are showing strength while major semiconductor shares, including Samsung Electronics and SK Hynix, are experiencing weakness. The volatility control device (VI) has been triggered more frequently in the aftermarket compared to regular trading hours, drawing attention to volatility management.As of 6 p.m. on September 15, Samsung Electronics traded at 248,500 won, down 500 won (0.20%) from the previous trading day. SK Hynix also fell by 9,000 won (0.53%) to 1,688,000 won. Samsung Electro-Mechanics decreased by 1.50%, and Samsung Biologics dropped by 0.56%.In contrast, battery stocks showed positive performance. LG Energy Solution rose by 11,000 won (3.13%) to 362,500 won. On the KOSDAQ, EcoPro increased by 2.82% to 83,800 won, while EcoPro BM climbed 2.50% to 106,500 won.Among the most actively traded stocks, several surged significantly. On the KOSDAQ, Korea Advanced Materials jumped 29.98% to 3,360 won, and Aton soared 29.84%. Other notable gainers included MeTooOn (25.08%), Samik Pharmaceutical (23.95%), and SFA Semiconductor (14.08%). On the KOSPI, S.M. Bexel rose by 18.30%.The aftermarket has seen the VI triggered more frequently than during regular trading hours. According to the exchange, on its first trading day, the VI was activated a total of 1,112 times in the aftermarket, with 228 occurrences on the KOSPI and 884 on the KOSDAQ, approximately 2.8 times the total of 391 activations during regular trading.The exchange explained that the liquidity in the aftermarket is about 7% of that in regular trading, and the same VI activation criteria were applied to ensure stable operations and volatility management in the early stages. On September 14, the trading volume was recorded at 25.7 trillion won for regular trading and 1.8 trillion won for the aftermarket.However, actual price volatility was lower in the aftermarket compared to regular trading. The volatility for individual stocks on the KOSPI was 4.1% during regular hours and 2.9% in the aftermarket, while the KOSDAQ saw a decrease from 5.8% to 4.6%. The exchange noted that while some stocks experienced increased volatility, overall, prices were more stable than during regular trading.* This article has been translated by AI. 2026-09-15 18:08:00
  • Korail to Add 14 Additional Train Services During Seoul Bus Strike
    Korail to Add 14 Additional Train Services During Seoul Bus Strike The Korea Railroad Corporation (Korail) announced plans to increase train services in response to a strike by the Seoul City Bus Workers' Union.On September 15, Korail stated that if the bus workers begin their strike on September 16, they will add 14 additional train services.The extra services will operate during rush hours on four lines: the Gyeongbu, Gyeongin, Gyeongwon, and Suin-Bundang lines, with nine additional trains in the morning and five in the evening.The Seoul Regional Labor Commission has set a deadline of 9 p.m. on the same day for negotiations. If an agreement is not reached, the union plans to halt operations starting with the first train at 4 a.m. on September 16.A Korail official stated, “We plan to deploy additional trains during peak commuting hours to minimize inconvenience for citizens and reduce traffic congestion.”* This article has been translated by AI. 2026-09-15 18:04:00
  • Hyundai Engineering Signs Agreement for Karachaganak Gas Processing Plant in Kazakhstan
    Hyundai Engineering Signs Agreement for Karachaganak Gas Processing Plant in Kazakhstan Hyundai Engineering has solidified its partnership with Kazakhstan's state gas company, QazaqGaz, for the development of a large gas processing facility.On September 15, Hyundai Engineering announced that it signed a project implementation agreement with JSC NC QazaqGaz for the Karachaganak Gas Processing Plant (KGPP).This agreement aims to clarify the interests of the parties involved in the KGPP project, which will process 5 billion cubic meters of raw gas annually, and to specify the direction of the project and cooperation principles.The Karachaganak Gas Processing Plant project will be carried out by a consortium formed by Hyundai Engineering and the Italian EPC company SICIM, through its Kazakhstan subsidiary, SICIM Kazakhstan LLP. Hyundai Engineering, as the lead contractor, will handle design and procurement, while construction and commissioning will be conducted in collaboration with SICIM's local entity.With this project, Hyundai Engineering has established a business foundation in all three major energy resource countries in Central Asia. In 2021, it completed the world's sixth GTL plant in Uzbekistan and the $3.4 billion Kiyanly petrochemical plant in Turkmenistan in 2018.A representative from Hyundai Engineering stated, “The signing of this project implementation agreement marks a milestone in advancing Kazakhstan's gas infrastructure development project. We aim to successfully execute this project based on our accumulated experience and technology in the Central Asia region and further expand our influence in the global energy infrastructure market.”* This article has been translated by AI. 2026-09-15 18:04:00
  • Hyosung and LS Electric Challenge U.S. Tariffs on Korean Transformers
    Hyosung and LS Electric Challenge U.S. Tariffs on Korean Transformers The U.S. government has imposed a 0% tariff rate on HD Hyundai Electric and Iljin Electric, which were directly investigated in the anti-dumping review of large transformers from South Korea. In contrast, Hyosung Heavy Industries and LS Electric, which were not part of the investigation, face a 4.32% tariff, prompting both companies to take legal action.According to industry sources, Hyosung Heavy Industries and LS Electric recently filed lawsuits against the U.S. government in the Court of International Trade (CIT). They are contesting the U.S. Department of Commerce's findings from the administrative review of anti-dumping duties on large power transformers from South Korea.During the review, the Department of Commerce selected certain companies as mandatory respondents, requiring them to submit data on export prices and costs to investigate dumping. The tariff rates for non-responding companies are typically determined based on the results of these investigations.In this case, both HD Hyundai Electric and Iljin Electric were designated as mandatory respondents and received a 0% dumping margin. However, Hyosung Heavy Industries and LS Electric, which were not directly investigated, were assigned a 4.32% tariff, leading to their legal response.Hyosung Heavy Industries and LS Electric view this lawsuit as a standard remedy process. They argue that it is unjust for non-investigated companies to be subjected to a past rate of 4.32% when the investigated companies received a 0% tariff. They seek an objective review from the Court of International Trade.However, the impact of this lawsuit on Hyosung Heavy Industries and LS Electric's operations in the U.S. is expected to be limited. The tariffs in question apply to quantities already exported during the investigation period and do not directly affect current contracts or new business opportunities.An industry insider stated, "This lawsuit concerns whether additional tariffs will be imposed on the quantities exported at that time. The ongoing litigation will not significantly affect current contracts or operations in the U.S., and we hope it does not set an unfair precedent."The case involves large power transformers imported from South Korea between August 1, 2023, and July 31, 2024. The Department of Commerce determined last month that these products were sold in the U.S. at prices lower than their normal value. Hyosung Heavy Industries and LS Electric submitted separate summonses to the Court of International Trade. 2026-09-15 18:04:00
  • Kakao Games Acquires MeTooOn in First M&A to Strengthen Social Casino Revenue
    Kakao Games Acquires MeTooOn in First M&A to Strengthen Social Casino Revenue Kakao Games has chosen global casual game company MeTooOn as its first acquisition target since the launch of its new co-CEO system. This move is seen as a strategy to broaden its portfolio into the stable revenue-generating social casino genre amid ongoing losses due to a lack of new releases and declining sales from existing games.On September 15, Kakao Games held a board meeting and decided to acquire a 39.56% stake in MeTooOn for approximately 98 billion won. This transaction will secure management control and make Kakao Games the largest shareholder.Founded in 2010 and listed on the KOSDAQ in 2016, MeTooOn reported revenues of about 120.9 billion won and an operating profit of approximately 12.6 billion won last year. The company focuses on social casino and casual games, including titles like 'Full Pot Hold'em' and 'Full House Casino,' and operates in global markets such as Asia, North America, and Europe, with over 80% of its revenue coming from overseas.With this acquisition, Kakao Games is expanding its portfolio to include social casino and casual games. The social casino genre is known for generating relatively stable revenue through repeat payments from users, particularly in global markets like North America and Europe. This acquisition is interpreted as a move to solidify Kakao Games' revenue base.According to MeTooOn, its second-quarter revenue from the gaming sector was composed of 52.2% from social casino games and 47.8% from casual games, with North America accounting for 65.0% of its revenue and Asia 14.3%. The company is maintaining a revenue structure centered on North America while also expanding its presence in Asia.Recently, Kakao Games has faced ongoing performance challenges, making profitability improvement a key priority. In the second quarter, consolidated revenue fell to 75 billion won, a 35% decrease from the same period last year, while operating losses widened to 23 billion won from 8.6 billion won a year earlier. The lack of new releases and expanded global investments have weighed on performance.Kakao Games has been restructuring its business to focus on core gaming operations while divesting non-core businesses. The company has also improved its financial structure by selling stakes in non-core affiliates like Neptune and Kakao VX.In June, LAAA Investment became the largest shareholder of Kakao Games. The company secured approximately 300 billion won in new funding through a capital increase and convertible bond issuance. That same month, the co-CEO system led by Kim Tae-hwan and Lee Si-woo was established, with Kim overseeing M&A and global strategy, while Lee focuses on gaming operations to drive investment and portfolio restructuring.The acquisition of MeTooOn marks the first tangible outcome of the new co-CEO strategy. In the second-quarter earnings announcement, Kim Tae-hwan stated plans to maintain MMORPGs as a core competitive strength while expanding the portfolio with popular genres like sports and casual games, as well as securing proven titles.Kakao Games is also working to rebound its performance through new releases. The company plans to launch 'The World of Goblins' on October 8, followed by 'ArcheAge Chronicle' and 'Dungeon Arise' later this year. Next year, it aims to continue its new lineup with titles like 'Odin Q: Valkyrie's Call' and 'Chrono Odyssey,' with a goal of achieving profitability in the first quarter of next year.Lee Si-woo, co-CEO of Kakao Games, stated, "This acquisition is the first step in executing a proven M&A strategy under the new management system, and we will continue to pursue M&A opportunities. We aim to create synergies by expanding into various intellectual property (IP) content areas held by MeTooOn and collaborating with development studios in China for joint development."* This article has been translated by AI. 2026-09-15 18:00:00