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  • Allegations of Favoritism Surround Kim Seung-won as Broker Appears in Court
    Allegations of Favoritism Surround Kim Seung-won as Broker Appears in Court Allegations surrounding Kim Seung-won, the nominee for Minister of Justice, continue to escalate as new claims emerge that a cooperative run by his spouse received preferential treatment from the city of Suwon in being selected for a government voucher program.On September 15, Joo Jin-woo, a lawmaker from the People Power Party, held a press conference at the National Assembly just before Kim's confirmation hearing, where he revealed a recording featuring Kim's spouse.Joo asserted that there was favoritism in the process that designated the 'Korea Child Development Social Cooperative,' led by Kim's spouse, as a recipient of the voucher program by the Suwon city government.In the released recording, Kim's spouse stated, "When we were conducting weekly activity services, we failed the fire inspection and the review period did not match. The head of the welfare department in Suwon City extended the review period and provided us with many conveniences, insisting that our organization be selected."The cooperative reportedly had no voucher revenue while operating in Yongin but was designated as a service provider after relocating to Suwon, receiving approximately 880 million won in government vouchers over four years.Joo described the situation as a typical case of favoritism, where the review period was extended for a specific cooperative, stating, "This is a clear case of predetermined favoritism in a project that should go through a competitive selection process. We will pursue criminal charges against the relevant officials and Kim's spouse, as well as seek to revoke the designation and recover the voucher profits." He also called for Kim's immediate resignation.Meanwhile, on the same day, the Seoul Western District Court held a hearing regarding the bribery charges involving broker Yang, who is implicated in the 'new drug solicitation allegations' related to Kim, and Professor Kang, the founder of Genensel. Yang, who requested personal protection the day before, entered the courtroom under the protection of court security, avoiding questions from reporters. However, the court postponed the scheduled questioning of Kang to a later date.Previously, Yang refuted claims made by independent lawmaker Han Dong-hoon, who referred to him as a 'room salon madam,' through a YouTube broadcast, stating, "I only operated restaurants and bars in Cheongdam-dong and have never run a room salon with female hostesses." However, it has been reported that a previous appellate court ruling described Yang's establishment as a 'rotation bar' where entertainment staff worked, suggesting that the controversy may continue.Yang and Kang are accused of soliciting expedited processing from the Ministry of Food and Drug Safety through Kim during the approval process for Genensel's COVID-19 treatment clinical trial plan, in exchange for a promise of a 5 million won political donation.The prosecution acknowledged the nature of the solicitation as a form of mediation but stated it was difficult to definitively conclude the illegality of the request, resulting in a decision to suspend prosecution until December 2024. Kim has contested this decision by filing a constitutional complaint.* This article has been translated by AI. 2026-09-15 17:44:10
  • Big Tech CEOs Call for AI Development Caution Amid Competition
    Big Tech CEOs Call for AI Development Caution Amid Competition Major tech CEOs are increasingly voicing concerns about potential existential threats posed by artificial intelligence while simultaneously pushing for rapid model development. Critics argue that this reflects a disconnect between their words and actions.According to the IT industry, calls for moderation in AI development began in March 2023, when the Future of Life Institute published an open letter urging a six-month pause on training AI systems more powerful than GPT-4. However, competition has intensified, with OpenAI, Anthropic, and xAI releasing a total of 51 new models over the past three and a half years.OpenAI has transitioned from GPT-4 to GPT-6 Astra in 19 iterations, while Anthropic has released 19 versions from Claude 1 to Fable & Mythos 5.1. Elon Musk, who signed the original letter, founded xAI seven months later and has since introduced 13 models, from Grok 1 to Grok 4.6.Former President Donald Trump has taken a strong stance against the AI industry's crisis narrative, stating on social media that those warning about AI's potential to destroy the world are no different from those who previously claimed climate change would end civilization.David Sachs, the White House AI and cryptocurrency czar, has criticized the regulatory capture strategy aimed at Anthropic, suggesting that the calls for moderation from CEOs like Dario Amodei, Sam Altman, and Elon Musk stem from motives to dominate the industry and avoid antitrust scrutiny.NVIDIA CEO Jensen Huang has also criticized Amodei, suggesting that he believes only he can create safe AI, which could lead to attempts to control the entire industry.* This article has been translated by AI. 2026-09-15 17:44:10
  • Korean Stock Market Faces Uncertainty Ahead of U.S. Interest Rate Hike
    Korean Stock Market Faces Uncertainty Ahead of U.S. Interest Rate Hike 금리의 역습이 본격화되고 있다. 미국 중앙은행인 연방준비제도(Fed)가 이번 주 기준금리를 올릴 게 확실시되면서 국내 증시에 긴장감이 고조되는 분위기다. 미국 기준금리 인상은 증시에 악재로 작용한다. 지난 2022년 미국의 공격적인 금리 인상 당시 코스피는 한 해 동안 25% 가까이 급락했다. 전문가들은 추가 금리인상 여부에 대한 '시그널'에 따라 증시에 미칠 충격파가 달라질 것으로 전망한다. 15일 금융투자업계에 따르면 미국 연방준비제도는 오는 15~16일(현지시간) 연방공개시장위원회(FOMC)를 열고 기준금리를 결정한다. 시장에서는 25bp(1bp=0.01%포인트) 금리 인상 가능성을 높게 보고 있다. 인상이 단행되면 미국 기준금리는 현재 3.50~3.75%에서 3.75~4.00%로 올라선다. 미국 연준의 금리인상은 이미 국채 금리에 선반영되고 있다. 글로벌 금리 벤치마크인 미국 국채 10년물 금리는 14일(현지시간) 5%를 넘어섰다. 2023년 10월 이후 처음이다. 투자자들의 관심은 국내 증시에 미칠 충격의 정도에 쏠린다. 그동안 미국의 긴축 국면에서 국내 증시는 큰 폭의 조정을 겪었다. 대표적인 때가 2022년이다. 당시 연준은 인플레이션에 대응하기 위해 3월 금리 인상을 시작한 뒤 연말까지 7차례에 걸쳐 기준금리를 총 425bp 올렸다. 이에 미국 기준금리는 연초 0~0.25%에서 연말 4.25~4.50%까지 상승했다. 이 같은 가파른 긴축에 국내 증시는 직격탄을 맞았다. 코스피는 2021년 12월 30일 2977.65에서 2022년 12월 30일 2236.40으로 741.25포인트 떨어졌다. 1년 만에 24.89% 하락한 것이다. 2022년과 올해 경제여건이 다르기는 하지만 이번에도 미국의 금리 인상이 국내 증시에 부담으로 작용할 가능성이 있다. 특히 금리 인상 자체보다 이후 연준의 추가 긴축 가능성이 중요하다는 분석이다. 한 차례 금리 인상으로 긴축이 마무리될 것이라는 신호가 나온다면 시장 충격이 제한될 수 있지만 추가 인상 가능성이 열릴 경우 미국 장기금리 상승과 글로벌 위험자산 회피 심리가 이어질 수 있다. 황승택 하나증권 리서치센터장은 "이번에 금리를 올리고 안 올리고가 중요한 게 아니라 앞으로 몇 번을 올릴 것이냐의 문제"라며 "기존에는 앞으로 두 번 정도 추가 인상을 예상했지만 최근 물가와 설비투자, 인공지능(AI) 관련 이슈 등을 감안했을 때 추가 인상 가능성이 더 커질 수 있다는 점을 시장이 가장 두려워하고 있다"고 말했다. 이어 "앞으로 두 번 정도 인상하는 것은 시장이 기존에 예상했던 부분인 만큼 그 이상도 가능할 것인지에 대해 점도표 등이 관건이 될 것"이라고 덧붙였다. 백영찬 상상인증권 리서치센터장은 "이번에 금리가 높아질 경우 금리 인상이라는 불확실성이 해소되는 단계로 볼 수 있다"며 "금리 인상을 하게 되면 단기적으로 주가가 하락할 수 있지만 반등이나 회복은 빠를 것으로 본다"고 말했다. 미국의 금리인상에 AI 속도조절론이 겹치면서 국내 증시는 이틀 연속 약세를 이어갔다. 이날 코스피는 전 거래일보다 57.11포인트(0.85%) 내린 6627.26에 마감했다. 코스닥은 5.62포인트(0.70%) 오른 812.41에 거래를 마쳤다. 외국인과 기관은 코스피에서 각각 1조5735억원, 9044억원을 순매도했다. 반면 개인은 8324억원을 순매수했다. 시가총액 상위 종목에서는 삼성전자가 0.20%, SK하이닉스가 0.41% 하락했다. 삼성전기와 현대차도 각각 1.50%, 1.21% 내렸다.* This article has been translated by AI. 2026-09-15 17:44:00
  • New AI Models Spark Concerns Over Safety and Regulation
    New AI Models Spark Concerns Over Safety and Regulation U.S. AI tech giants have once again released their latest models while simultaneously warning about their risks, a pattern that has emerged every three months. Critics argue that the recurring cycle of AI threat warnings following new model launches reflects a strategy of 'fear marketing' aimed at gaining industry dominance rather than addressing safety concerns.On September 15, the IT industry reported that Anthropic issued a direct warning in its announcement of the release of Fable 5 and Mythos 5 on June 9, stating, "Launching such a powerful model comes with risks. Without safety measures, Fable 5's cybersecurity capabilities could be misused to cause serious harm." TechCrunch noted that the warning and the model's release occurred almost simultaneously, highlighting the urgency of the concerns.This behavior has repeated itself within three months. Anthropic launched an upgraded version, Fable 5.1 and Mythos 5.1, on September 1. OpenAI followed suit three days later with the introduction of its new flagship model, GPT-6 Astra. Dario Amodei, CEO of Anthropic, published an essay on September 12 advocating for a slowdown in AI development, a sentiment echoed by Sam Altman, CEO of OpenAI. Observers suggest that this timing indicates a focus on industry control rather than genuine safety concerns.Concerns about risks following new model releases are not new. On May 30, 2023, just two and a half months after the launch of GPT-4, Altman and hundreds of AI experts signed a statement from the U.S. AI Safety Center (CAIS) warning that mitigating the risk of human extinction due to AI should be a global priority on par with pandemics and nuclear war.The pattern intensified on May 13, 2024, when OpenAI released GPT-4o. The day after the announcement, Chief Scientist Ilya Sutskever unexpectedly resigned, followed by the departure of Jan Leike, who led the Superalignment team, citing that safety culture and procedures had been overshadowed by flashy product launches. OpenAI disbanded the team shortly thereafter.The exodus of key personnel raises concerns about the shortcomings in safety measures and testing systems, with claims that these incidents are being framed as evidence of AI's increasing power to highlight the models' superiority. Reports indicate that OpenAI has not applied the risk classification system introduced in May to its recent releases, including GPT-5.6 and GPT-6 Astra, raising potential violations of California's AI Safety Law (SB 53).Despite these controversies, experts assert that the issue of 'loss of control' is already a reality. Choi Byung-ho, a professor at Korea University's AI Research Institute, stated in a conversation that while it appears AI models are increasingly escaping human control, the focus should be on developing practical control measures rather than apocalyptic scenarios of AI domination.There is some consensus on the need for joint norms to regulate AI, but the complexities surrounding who will lead and how this will be implemented remain unresolved. Amodei argues that self-regulation by a single company or country is insufficient, and a global consensus on 'speed limits' is necessary.Attention is now turning to the upcoming U.S.-China summit. Following the Beijing summit in May, the next meeting has yet to be officially confirmed, but the APEC summit in Shenzhen on November 18-19 is seen as a likely opportunity. However, the Chinese Foreign Ministry has labeled Amodei's warnings as 'fear-mongering,' suggesting that the AI power struggle between the two nations is unlikely to ease anytime soon.* This article has been translated by AI. 2026-09-15 17:44:00
  • Individual Investors Buy U.S. Treasury ETFs Amid Rising Interest Rates
    Individual Investors Buy U.S. Treasury ETFs Amid Rising Interest Rates Individual investors are actively purchasing U.S. long-term Treasury exchange-traded funds (ETFs) that have recently dropped to near their annual lows. This surge in buying is interpreted as a strategy to capitalize on what is seen as a low point, following a recent rise in Treasury yields that has led to falling ETF prices. However, forecasts suggest that the upward trend in U.S. long-term Treasury yields may not reverse soon.According to data from Korea Exchange and Koscom ETF Check on September 15, individual investors have net purchased 20.9 billion won in the TIGER U.S. Ultra Short-Term (less than 3 months) Treasury ETF and 17.2 billion won in the ACE U.S. 30-Year Treasury Active ETF over the past month. They also bought 5.4 billion won in the ACE U.S. 10-Year Treasury Active ETF and 3.9 billion won in the SOL U.S. 30-Year Treasury Covered Call (synthetic) ETF, making these the top three net purchases among bond ETFs, excluding ultra-short-term Treasuries.Due to the rise in U.S. long-term Treasury yields, the prices of these ETFs are nearing their annual lows. The 'ACE U.S. 30-Year Treasury Active' ETF closed at 8,620 won, up 0.88% from its 52-week low of 8,545 won. The 'ACE U.S. 10-Year Treasury Active ETF' also rose 1.01% to 9,495 won, compared to its 52-week low of 9,400 won.The declines have been significant. Over the past month, the 'TIGER U.S. 10-Year Treasury Futures' ETF has fallen by 6.6%, the largest drop among bond ETFs. The RISE U.S. 30-Year Treasury Covered Call ETF decreased by 6.45%, while the 'ACE U.S. 30-Year Treasury Active' ETF saw a decline of 6.43%, ranking among the highest in terms of loss.The influx of individual investor funds into U.S. long-term Treasury ETFs is interpreted as a response to the recent rapid rise in Treasury yields, which are nearing peak levels. Investors believe that if bond yields peak and then decline, the currently depressed long-term Treasury prices could recover. The yield on the U.S. 10-Year Treasury has surged by 12.2% compared to three months ago, surpassing 5% for the first time since October 2023.The outlook for the U.S. long-term Treasury ETF market appears bleak for the time being. The ongoing conflict in the Middle East is contributing to rising prices, creating significant market anxiety due to large-scale fiscal spending. Additionally, if the Bank of Japan raises interest rates within the year, it could further impact the market.Kim Hak-kyun, a researcher at Shin Young Securities, stated, "If the economy were extremely hot, the Federal Reserve would continue to raise interest rates, but it seems to be swayed by external factors instead. If the current conflict in the Middle East continues, market interest rates may remain unstable." 2026-09-15 17:44:00
  • Samsung Electronics to Raise Memory Prices by 30-40% in Q1 2027; Apple Accepts Increase
    Samsung Electronics to Raise Memory Prices by 30-40% in Q1 2027; Apple Accepts Increase Apple has reportedly accepted Samsung Electronics' proposal to increase memory semiconductor prices in the first quarter of 2027. Prices for DRAM and NAND flash memory used in smartphones are expected to rise by 30-40% compared to the third quarter of this year, leading to increased cost pressures for smartphone manufacturers.According to the Chinese economic media outlet Jiemian, citing industry sources, Samsung has proposed a price of nearly $2 per gigabit for DRAM and about $0.33 for NAND flash. These figures represent a 30-40% increase from the prices in the third quarter of this year.As one of the largest smartphone manufacturers globally, Apple’s acceptance of these prices suggests that memory costs may continue to rise in the future.One of the main reasons for the increase in memory prices is the rapid growth of the artificial intelligence (AI) industry. The swift expansion of AI data centers has led to a surge in demand for high-bandwidth memory (HBM) and server DRAM. Consequently, major memory manufacturers like Samsung, SK Hynix, and Micron in the U.S. are focusing their production capacity on AI and server products, resulting in a relative decrease in the supply of memory for smartphones.Market research firm Omdia forecasts that Samsung's NAND wafer production will decline from 4.9 million units last year to 4.68 million units this year, while SK Hynix's production is expected to drop from about 1.9 million units to 1.7 million units. Kioxia also plans to reduce its production from 4.8 million units to 4.69 million units.As memory supply tightens, Apple is facing increased cost pressures. According to market research firm TrendForce, the memory cost for the 256GB iPhone 18 Pro in the third quarter of this year has increased approximately fourfold compared to the same period last year. The share of memory in the overall component cost has also risen significantly, from about 10% to 34%.Apple previously stated that it has never seen component prices rise so dramatically and quickly. Following the unveiling of new products on September 9, Apple raised the price of the iPhone 18 Pro in China by 1,000 yuan (approximately $140). Prices for existing models, including the iPhone Air and iPhone 17, were also increased by up to 2,300 yuan. Apple cited the rise in memory semiconductor prices as one of the reasons for these price hikes.With Apple accepting Samsung's high memory prices, Chinese smartphone manufacturers are likely to face increased burdens as well. Given that Apple purchases memory in large quantities, it has stronger negotiating power than other companies. However, if Apple has accepted these prices, it may become more challenging for Chinese smartphone manufacturers like Oppo and Vivo to demand lower prices. 2026-09-15 17:40:20
  • The Rise of Tteok: Young Consumers Embrace Unique Rice Cakes
    The Rise of Tteok: Young Consumers Embrace Unique Rice Cakes A new dessert trend is emerging in South Korea, with young consumers embarking on 'tteok pilgrimages' to explore popular rice cake shops across the country. Traditionally enjoyed during holidays and special occasions, tteok is now being reimagined with unique ingredients, chewy textures, and eye-catching presentations, making it a staple dessert for the 2030 generation.According to industry sources, one of the most talked-about rice cakes on social media is 'pizza tteok.' This innovative treat features a base of baekseolgi (steamed white rice cake) topped with tomato sauce, cheese, and ham, and is credited to Yeongdo Bridge Rice Cake Shop in Busan. Originally a local specialty, the dish gained national fame through Instagram reels and YouTube shorts, prompting other rice cake shops to create similar offerings. Some locations have even seen customers lining up before opening hours to purchase the product.Another example of the tteok craze is the glutinous rice cake brand 'Han Jeong-seon,' which started in Seongsu-dong. This brand has reinterpreted traditional rice cakes by incorporating fresh fruits like strawberries and Shine Muscat grapes, as well as yogurt, creating dessert-like products that have sparked open runs. Lines form outside the main store before it opens at 10:30 a.m., sometimes extending to the next building when crowds gather. With its trendy ingredients and appealing visuals, Han Jeong-seon has gained popularity not only among young locals but also among foreign tourists visiting Korea.Prior to this, 'Chang-eok Tteok' from Gwangju gained nationwide attention through social media. This rice cake, made with pumpkin and coated in castella crumbs, was well-known locally but has now established itself as a national dessert thanks to its online resurgence. The trend of consumers visiting shops to taste these popular rice cakes has contributed to the growth of the 'tteok pilgrimage' culture.As interest in unique rice cakes grows, convenience stores are quickly adapting to the trend. GS25 recently launched 'Han Jeong-seon Yogurt Glutinous Rice Cake' in collaboration with dessert manufacturer Lolo Mello. This frozen dessert, a reinterpretation of Han Jeong-seon's signature yogurt rice cake, surpassed 380,000 units in sales as of September 13, achieving a 100% sales rate as stock sold out at stores.Seven-Eleven has also targeted the 20-30 age group with its 'Chiroru Choco Mochi' series, inspired by a popular Japanese chocolate. After selling out 130,000 units of two varieties within two months last year, the company increased its stock by nearly three times this year.Department stores are also embracing the rice cake trend with pop-up shops. Last month, a 'National Tteok Pilgrimage' pop-up at Lotte Department Store in Jamsil attracted over 20,000 customers in just one week. Similarly, a pop-up for 'Chang-eok Tteok' at The Hyundai Seoul saw more than 10,000 visitors in a week, with some customers waiting one to two hours to purchase products.As the trend continues, department stores are accelerating efforts to attract famous rice cake shops. Lotte is hosting a '2026 Dessert & Gift Fair' at its Busan headquarters until October 1, featuring renowned rice cake shops from across the country. This month, Lotte World Mall in Jamsil and over ten other locations will also host 'Morakjeolmi' pop-ups.The Hyundai Seoul will feature pop-ups for 'Jaiso,' a famous rice cake shop in Jongno from November 11-17, and 'Myeongnyeongheon' from November 18-23. Han Jeong-seon is currently operating at the Trade Center and Pangyo branches of Hyundai Department Store, while Shinsegae Department Store is showcasing popular local rice cake shops like 'Gyeonggi Tteokjip' and 'Jaiso' at its Gangnam location. Additionally, Shinsegae Gwangju is selling 'Morakjeolmi,' and Shinsegae Daejeon is offering 'Yeosu Strawberry Anmitsu.'An industry insider noted, 'As rice cakes evolve with diverse ingredients and modern forms, they are increasingly accepted as everyday desserts by young consumers. With social media rapidly promoting local rice cake shops and retailers expanding their offerings, the presence of rice cakes in the dessert market is expected to strengthen further.'* This article has been translated by AI. 2026-09-15 17:36:10
  • Koreas Financial Chief Discusses Financial Cooperation with German Counterpart
    Korea's Financial Chief Discusses Financial Cooperation with German Counterpart Lee Ok-yeon, the chair of the Financial Services Commission, met with a delegation from the German Bundestag's Finance Committee to discuss the role of finance in addressing structural challenges faced by both countries, such as low growth and demographic changes.The Financial Services Commission announced that Lee met with Christian Görke, the chair of the German Bundestag's Finance Committee, and seven other members of parliament on the afternoon of September 15 at the Government Seoul Complex.The German delegation explained that both Korea and Germany have economies centered on manufacturing and exports, and they are facing similar structural challenges, including low growth and demographic changes. They visited Korea to share policy experiences and gain insights.Particularly, as the German economy shows signs of recovery after two consecutive years of contraction, they expressed interest in the role of finance in enhancing growth potential and industrial competitiveness.Lee emphasized that Korea is also confronting structural changes, including low growth, population decline, and the adoption of artificial intelligence (AI). He stated that it is crucial to reform the entire financial system to respond effectively to these challenges.He highlighted the importance of 'productive finance' in identifying new growth drivers that can create future value and ensuring timely funding for these initiatives.Lee explained that the government is expanding funding for future growth sectors through initiatives like the National Growth Fund and is also pursuing regulatory improvements to develop capital markets as platforms for innovation and growth.Addressing financial market stability was also a key agenda item. Lee noted that due to recent global interest rate hikes and changes in external conditions, domestic financial market volatility has increased. He stated that measures are being taken to proactively assess risk factors and strengthen the market stability response system to prevent market instability from spreading throughout the financial system.Additionally, he mentioned that policies are being implemented to enhance public and market trust in finance through support for vulnerable financial groups, consumer protection, and the establishment of fair market order.* This article has been translated by AI. 2026-09-15 17:36:00
  • Dongwon Parts wins KOSDAQ listing approval
    Dongwon Parts wins KOSDAQ listing approval SEOUL, September 15 (AJP) - South Korean semiconductor parts maker Dongwon Parts said Tuesday it has received preliminary approval from the Korea Exchange (KRX) for a KOSDAQ listing, clearing a key regulatory step in its initial public offering (IPO). The approval came after its revenue jumped 55 percent last year to 92.3 billion won ($67.9 million). Operating profit rose more than sevenfold to 7.8 billion won ($5.7 million). Samsung Securities is the lead underwriter. Founded in 1997, Dongwon Parts manufactures parts used in semiconductor equipment for etching, deposition and cleaning — processes used to shape, build and clean the thin layers that make up semiconductor chips. Its main products include showerheads and chamber parts, which are consumable components used inside chipmaking equipment. Showerheads distribute gases evenly across semiconductor wafers, while chamber parts form part of the enclosed area where the manufacturing process takes place. The company uses precision micro-hole drilling technology to produce components with tiny, closely controlled openings, allowing it to develop prototypes and move them into mass production. Dongwon Parts is also a registered supplier to major U.S. semiconductor equipment makers Lam Research and Applied Materials. Direct exports and sales to global equipment companies account for 51 percent of its revenue. The company expects continued investment in semiconductor production equipment as demand grows for artificial intelligence chips and high-bandwidth memory (HBM), a type of advanced memory widely used in AI computing. Unlike technology companies that list through a special track with relaxed financial requirements, Dongwon Parts is pursuing a standard KOSDAQ listing based on its earnings record. AJP Takeaways - Dongwon Parts cleared a major regulatory hurdle for its planned KOSDAQ IPO after receiving preliminary approval from the Korea Exchange. - Stronger 2025 earnings support Dongwon Parts’ standard listing route, with revenue up 55 percent and operating profit rising more than sevenfold. - Dongwon Parts has built a global semiconductor equipment customer base that includes Lam Research and Applied Materials, reducing reliance on the domestic market. 2026-09-15 17:35:19
  • POSCO Labor Negotiations Fail, 120-Hour Partial Strike Set to Begin
    POSCO Labor Negotiations Fail, 120-Hour Partial Strike Set to Begin POSCO and its labor union resumed wage negotiations on September 15 but failed to narrow their differences, leading to a halt in talks. The union plans to initiate a 120-hour partial strike starting September 16 due to the breakdown in negotiations. According to both parties, negotiations took place for about two hours starting at 2 p.m. at the company's headquarters in Pohang, but they could not reach an agreement on wage increases. Neither side presented a revised proposal from their previous demands. In the last round of talks on September 3, the union requested a 7.1% increase in base salary, a 600% incentive bonus, 50 shares of employee stock ownership, and a 200% holiday bonus. In contrast, the company offered a 2.0% increase in base salary, a 3.5 million won incentive bonus, a 500,000 won local love gift certificate, and an expansion of the range for longevity celebration bonuses. As a result of the failed negotiations, the union will begin the 120-hour partial strike at 7 a.m. on September 16. This will be the second strike action following the first partial strike that took place from September 9 to 11. The union has not disclosed the specific processes or the number of participating members for the second partial strike but plans to increase participation compared to the first strike. The targeted facilities for the strike include the No. 2 Hot Strip Mill at the Pohang Steelworks and the No. 4 Hot Strip Mill at the Gwangyang Steelworks. A union official stated, "We will wait until midnight to continue discussions between the negotiating teams. If we cannot reach an agreement, we will proceed with the second partial strike as scheduled at 7 a.m. on the 16th." A POSCO representative said, "The company will listen to the union's demands and communicate transparently while striving for mutual growth and a prompt resolution of the wage negotiations," but added that they would respond strictly to any violations of laws or regulations. 2026-09-15 17:32:00