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  • Foreign selling hands KOSPI 4th straight loss before Fed
    Foreign selling hands KOSPI 4th straight loss before Fed SEOUL, September 15 (AJP) - Foreign investors sold Korean shares for a fifth straight session on Tuesday, handing the KOSPI a fourth consecutive loss as worries over a possible U.S. rate hike this week weighed on the main board. Buyers turned instead to battery makers and the KOSDAQ. The main index in Seoul shed 57.11 points, or 0.9 percent, to 6,627.26. Foreigners sold a net 1.57 trillion won ($1.15 billion) of KOSPI shares and institutions 904.9 billion won ($665 million), overwhelming 833.1 billion won ($612 million) of individual buying. The same two groups were net buyers on the KOSDAQ. Over the five sessions, foreign net selling on the main board has topped 10 trillion won ($7.3 billion), and the KOSPI has lost 6.0 percent since closing above 7,000 last Wednesday. Hotter than expected U.S. core inflation for August, a 10-year Treasury yield that topped 5 percent and crude above $100 a barrel have revived fears the Federal Reserve could raise rates. Its two-day meeting began Tuesday. Samsung Electronics and SK hynix barely moved. Samsung slipped 0.2 percent to 248,500 won ($182.64). SK hynix fell 0.4 percent to 1,690,000 won ($1,242.10). Financials took heavier hits. Samsung Life Insurance sank 4.2 percent to 285,500 won ($209.83), and KB Financial Group lost 3.2 percent to 175,800 won ($129.21). Decliners outnumbered gainers 623 to 254. LG Energy Solution bucked the tide, jumping 4.0 percent to 365,500 won ($268.63). Local media tied the move to expectations for energy storage orders from artificial intelligence data centers. The KOSDAQ rose 0.7 percent to 812.4, led by battery materials, robotics and some chip names. Institutions bought a net 110.7 billion won ($81.4 million) on the secondary market and foreigners 24.1 billion won ($17.7 million). The won weakened to 1,360.6 per dollar. In Tokyo, the Nikkei 225 finished virtually unchanged at 63,484.1. SoftBank Group rebounded 7.5 percent to 6,279 yen. The group had slid a day earlier on reports that OpenAI, in which it is a major investor, will not go public this year. Memory maker Kioxia Holdings added 2.3 percent to 51,750 yen, while chip testing equipment maker Advantest fell 3.0 percent to 30,160 yen. The composite index in Shanghai slipped. Memory chip designer GigaDevice Semiconductor and PetroChina gained, while fiber optic maker Jiangsu Hengtong Optic-Electric declined. Lee Kyung-min, an analyst at Daishin Securities, said no fresh negative hit the market on Tuesday. Instead, he said, further gains in rates and oil sapped bargain hunting in a market now more sensitive to bad news than good. AJP Takeaways -Foreign investors sold Korean shares for a fifth straight session. Their net selling on the main board topped 10 trillion won ($7.3 billion) over that stretch. -Hotter than expected U.S. core inflation for August, a 10-year Treasury yield that topped 5 percent and crude above $100 a barrel revived fears the Federal Reserve could raise rates. -Samsung Electronics and SK hynix barely moved while financials fell harder. LG Energy Solution and the KOSDAQ gained, the Nikkei 225 finished virtually unchanged and Shanghai slipped. Entity tags: KOSPI, KOSDAQ, Samsung Electronics, SK hynix, LG Energy Solution, Samsung Life Insurance, KB Financial Group, Daishin Securities, Lee Kyung-min, Federal Reserve, U.S. Treasury yield, won/dollar exchange rate, Nikkei 225, SoftBank Group, OpenAI, Kioxia Holdings, Advantest, Shanghai Composite Index, GigaDevice Semiconductor, PetroChina, Jiangsu Hengtong Optic-Electric 2026-09-15 16:25:09
  • Behind the Scenes of Big Light: Costume Choices and Ha Ji-wons Transformation
    Behind the Scenes of 'Big Light': Costume Choices and Ha Ji-won's Transformation Every production has numerous perspectives. Although the director and actors share the same space and time, their experiences may differ. 'Choi Song-hee's B-Cut' focuses on the vivid behind-the-scenes moments that go beyond the 'A-Cut' captured on screen. It reconstructs the more intense 'B-Cut' moments through interviews with the director and actors. (Editor’s note)The film 'Big Light' follows the story of a top star couple, Jung-gu (played by Ryu Seung-ryong) and Nam-mi (played by Ha Ji-won), who face a crisis after the sudden appearance of Jung-gu's daughter, Dong-joo (played by Kim Si-ah). Eight years later, they find themselves embroiled in a shocking incident involving Dong-joo, leading them to risk everything to uncover the truth. Once a glamorous couple, Jung-gu and Nam-mi drift apart after Dong-joo's arrival, only to confront the same event years later.The passage of eight years is evident in their appearances and clothing. Nam-mi, in particular, experiences a stark contrast between her glamorous past and her current state. Ha Ji-won altered her speech and demeanor to reflect the two different periods."The director set up the character really well. The gap in Nam-mi's character is part of her charm. When she was a top star, her speech was a bit rough and bold, and her visuals were like a glamorous gold dress. In contrast, after her fall, her hair was bleached and appeared damaged, and she looked like she hadn’t taken care of her skin. While the early Nam-mi had a healthy vibe, eight years later, she needed to convey a sense of lived experience. So, I discussed a lot with the director about external changes, speech, tone, and breath," said Ha Ji-won.Director Lee Ji-won added, "We aimed for significant weight loss in her appearance. I advised her to avoid skin care for a while, skip Pilates, and even suggested she try smoking to lower her bright and cheerful voice. Ha Ji-won really committed to this transformation. Before starting the project, I like to meet and talk with the actors. Many of the characters I write come from backgrounds that the actors may not have experienced, so without that preparation, they might struggle on set. I worked closely with Ha Ji-won, even sharing drinks to observe how her character would evolve."Jung-gu's clothing also reflects the passage of time. Director Lee Ji-won requested Ryu Seung-ryong to wear outfits he had never donned before, incorporating unique prints and even a 'Big Light' tattoo to create Jung-gu's distinct personality."The flashy clothes weren't just for show; they represented Jung-gu's taste and a sense of his past that he couldn't let go. Nam-mi's outfits also maintained consistency. I believe those choices explained the characters well," Ryu Seung-ryong remarked."Honestly, I didn’t realize the costumes were that special. Later, while editing, I wondered if the luxury logos were too prominent. However, since Jung-gu's character transitions from the past to the present, I thought the outfits needed to be distinctive to signal that it was the same day. He had to wear the same special outfit during the ritual, which was meant to be the most expensive and from his prime. Jung-gu is an extraordinary character with a fiery personality, so I envisioned him choosing such outfits," Director Lee Ji-won explained.The family, each dressed in their respective outfits, comes together. Jung-gu's mother, Gi-sik (played by Kim Hae-sook), sister Ji-sook (played by Kim Sun-young), and brother-in-law Seong-myeong (played by Kim Young-min) bicker over trivial matters but unite in crucial moments to protect Dong-joo."It was truly an honor to work with Sun-young. The sense of realism that emerged during rehearsals was wonderful, and I learned so much from her performance. I would love to act with her again. It was also a privilege to work with Kim Hae-sook. All the seniors I filmed with in this movie were fantastic. Their performances conveyed a sense of real life. It was so enjoyable, and I felt it was too short a time with the family," Ha Ji-won shared.Ryu Seung-ryong added, "While watching the film, I kept asking the director whether certain lines were scripted or improvised. In the ritual scene, Kim Sun-young's character was mumbling to herself, and then suddenly, everyone started talking at once, which felt like a common occurrence in a typical household. We never explicitly discussed how to do it, but the director coordinated everything from behind the scenes. It was fascinating to see how it all came together."The relationship between Jung-gu and Nam-mi is complex. Once a married couple, they separated due to Dong-joo's arrival and now lead entirely different lives eight years later. Ha Ji-won noted that instead of rehearsing, she followed the atmosphere on set."My brother was cast as Jung-gu before me. I really wanted to work with him, and it was such an honor. He is usually a very funny person with a lot of dad jokes, but he didn’t do that during filming. Our roles are familiar yet strange, and the relationship is complicated. So rather than rehearsing, my brother created the mood on set. I’m grateful for how well he supported me, and I wish we had more scenes together," Ha Ji-won said.Ryu Seung-ryong praised Ha Ji-won, saying, "I think she has the best reactions among actors in our country. Her serious reactions and laughter are both excellent. She even laughs at trivial jokes, which I appreciate. On set, we had to navigate the complex and subtle relationship between Jung-gu and Nam-mi, and Ha Ji-won really helped with that."As the film reaches its conclusion, the relationship between Jung-gu and Nam-mi remains unresolved. Both express love and support for each other, but Ryu Seung-ryong and Director Lee Ji-won interpret that they likely did not reunite."I don’t think they would have reconciled. If their relationship could be repaired, they would have addressed the issues when the paternity discrepancy arose. Rather than a relationship that could be mended, I see it as one with many complications," Ryu Seung-ryong stated.Director Lee Ji-won added, "If I think about how they loved each other, Jung-gu likely had a sense of compassion similar to Gi-sik. Nam-mi probably found comfort in Jung-gu's words, which could also be seen as love. However, I believe that after the last encounter, Jung-gu and Nam-mi would go their separate ways. They seem like characters who shouldn’t see each other again. Nam-mi will likely continue to experience ups and downs in her acting career, while Jung-gu will live somewhat happily with Dong-joo, who will also face her own turbulent times. Dong-joo and Nam-mi might see each other occasionally, but since Nam-mi encouraged her to 'live well,' they might not meet again. They could have a strong bond that resembles a familial relationship, even if they don’t see each other often."* This article has been translated by AI. 2026-09-15 16:24:00
  • Ulsan to host global horticulture meeting in 2028
    Ulsan to host global horticulture meeting in 2028 SEOUL, September 15 (AJP) - Ulsan, South Korea’s leading industrial city, will host the 2028 Spring Meeting of the International Association of Horticultural Producers (AIPH), bringing global horticulture leaders to the city as it prepares for a major international garden expo. The southeastern city said Tuesday that the decision was finalized during the AIPH Annual Congress being held in Bari, Italy. Ulsan plans to hold the spring meeting in April 2028 in conjunction with the opening of the 2028 Ulsan International Garden Expo. The garden expo is scheduled to run from April 22 to Oct. 22, 2028, with venues including the Taehwagang National Garden and former landfill areas in Samsan and Yeocheon. The AIPH has officially listed the event on its calendar of approved international horticultural exhibitions. Organizers said the spring meeting will provide an opportunity to showcase Ulsan’s efforts to transform itself from a heavily industrialized city into a greener and more sustainable urban center. The city’s expo delegation also presented its preparations and venue development plans at an AIPH conference in Bari this week. Ulsan, a coastal city in southeastern South Korea with a population of about 1.12 million, has long been regarded as the country’s industrial capital. It is home to major automobile, shipbuilding, refining and petrochemical operations, including facilities operated by Hyundai Motor, HD Hyundai Heavy Industries, SK and S-Oil. In recent years, the city has sought to broaden that identity through environmental restoration projects, including the rehabilitation of the Taehwa River and the development of the Taehwagang National Garden. The 2028 expo is expected to become a centerpiece of that transition. Plans include converting former urban landfill sites into public gardens, a project the city says will demonstrate how industrial land can be repurposed as green urban space. AJP Takeaways - Ulsan will host the 2028 AIPH Spring Meeting alongside the Ulsan International Garden Expo. - The southeastern city is South Korea’s industrial hub, home to major automobile, shipbuilding, refining and petrochemical operations. - Ulsan is using the 2028 expo to highlight its transformation from an industrial center into a greener, more sustainable city. 2026-09-15 16:22:58
  • July Money Supply Increases by 12.7 Trillion Won, Driven by Semiconductor Deposits
    July Money Supply Increases by 12.7 Trillion Won, Driven by Semiconductor Deposits In July, South Korea's money supply increased by nearly 13 trillion won, marking the ninth consecutive month of growth, driven by deposits from semiconductor companies and an increase in time deposits.According to the Bank of Korea's 'Monetary and Liquidity' statistics released on September 15, the average broad money supply (M2) for July was 4,225.6 trillion won, up 12.7 trillion won (0.3%) from the previous month. This marks the largest increase since November of last year. The M2 growth rate was the lowest since February (0.0%).The M2 money supply, which includes cash, demand deposits, and savings deposits, also encompasses money market funds (MMFs), time deposits of less than two years, certificates of deposit (CDs), repurchase agreements (RPs), financial bonds of less than two years, and short-term financial products that can be quickly converted to cash.Among these, time deposits of less than two years saw an increase of 27.3 trillion won in just one month, the largest rise since December 2022.The influx of corporate surplus funds and the transfer of some funds from demand deposits to time deposits for investment in derivative markets contributed to the increase in the money supply.Time deposits of less than two years also rose by 11.4 trillion won due to deposits from semiconductor companies, marking the largest increase since January 2022.Conversely, demand deposits decreased by 27 trillion won, the largest drop since statistics began in October 2003. This decline is attributed to a reduction in corporate holdings due to value-added tax payments and a decrease in margins for derivative trading.By economic sector, non-financial corporations (+20.6 trillion won) and other sectors (+6.3 trillion won) saw increases, while households and non-profit organizations experienced a decline of 11.6 trillion won.The narrow measure of money supply, M1, which includes cash, demand deposits, and savings deposits, stood at 1,372.5 trillion won, down 2.2% (30.4 trillion won) from the previous month. This is the first decline since April of last year (-0.03%).* This article has been translated by AI. 2026-09-15 16:16:10
  • Shinhan Bank to Reduce Financial Burden for Small Businesses in Busan with Low-Interest Loans
    Shinhan Bank to Reduce Financial Burden for Small Businesses in Busan with Low-Interest Loans Shinhan Bank, in collaboration with the city of Busan and the Busan Credit Guarantee Foundation, will offer low-interest loans at around 1% and high-interest loan refinancing for small businesses in the Busan area.On September 14, Shinhan Bank signed a business agreement with the city of Busan and the Busan Credit Guarantee Foundation to jointly promote the '1% Low-Interest Loans and High-Interest Loan Refinancing for Small Businesses in Management Crisis' initiative, which was announced on the 15th.This initiative involves five financial institutions, including Shinhan Bank, providing a total of 500 billion won in guarantee agreements. The 'Living Assurance Agreement Guarantee' program aims to support the management stability of small and micro businesses in Busan that are struggling with financial burdens.Eligible participants are small and micro businesses registered and operating in Busan. The program offers a subsidy of 4.0 percentage points for the first year and 2.0 percentage points thereafter, allowing small businesses to access funds at an effective interest rate of around 1%.Support is available for up to 30 million won per business, with repayment options including five-year equal installment payments or one year of grace followed by four years of installment payments.Applications can be submitted starting on the 17th through the Busan Credit Guarantee Foundation's 'Guarantee Dream' app or at Shinhan Bank branches. A Shinhan Bank official stated, "We will continue to expand inclusive finance for small businesses and vulnerable groups in need of financial support, practicing win-win finance that grows together with the local community."* This article has been translated by AI. 2026-09-15 16:16:10
  • KB Kookmin Bank Issues €650 Million Covered Bonds, Largest for a Korean Bank
    KB Kookmin Bank Issues €650 Million Covered Bonds, Largest for a Korean Bank KB Kookmin Bank has issued €650 million in euro-denominated sustainable covered bonds, marking the largest issuance by a Korean bank to date. This move demonstrates the bank's competitive funding capabilities amid growing uncertainties in global interest rates and inflation.The bank announced on September 15 that it completed the issuance of the four-year maturity sustainable covered bonds on September 14.The issuance rate is set at 3.625%, which includes a 24 basis point (1 basis point = 0.01 percentage points) premium over the four-year euro mid-swap (EUR MS) rate. This premium is 12 basis points lower than the 36 basis points recorded during a similar issuance last year, representing the lowest premium for any euro covered bonds issued by KB Kookmin Bank to date.To expand its European investor base, KB Kookmin Bank conducted a Non-Deal Roadshow (NDR) in early September, visiting Germany, Luxembourg, and Switzerland. During this trip, the bank met with over 12 major investment institutions, including central banks and international organizations, to broaden its investor outreach.Since becoming the first Korean bank to issue covered bonds in July 2020, KB Kookmin Bank has consistently issued benchmark-level euro covered bonds each year. This has helped establish its reputation as a leading covered bond issuer not only in South Korea but also across Asia.KB Kookmin Bank's covered bonds are backed by high-quality assets, such as residential mortgage loans, which have earned them top ratings (AAA) from international credit rating agencies Standard & Poor's (S&P) and Fitch.A representative from KB Kookmin Bank stated, "We are committed to expanding our investor base in the European market and enhancing the status of Korean covered bonds, building on the track record we have established since 2020."* This article has been translated by AI. 2026-09-15 16:16:00
  • Vietnam and South Korea Discuss Youth Cooperation Beyond Simple Exchanges
    Vietnam and South Korea Discuss Youth Cooperation Beyond Simple Exchanges Vietnam and South Korea are exploring ways to expand their 12-year youth exchange program into a collaboration focused on joint research and policy experience sharing. The goal is to elevate cooperation in areas of mutual interest, such as administrative innovation, digital transformation, and youth talent development, beyond the existing visit and learning-based programs.On September 14, according to Vietnam's Ministry of Home Affairs, the Korea Foundation (KF) and the ministry held a meeting in Hanoi with a South Korean youth delegation as part of a memorandum of understanding (MOU) on experience sharing and youth exchange cooperation. Doan Duc Hao, Director of the Youth and Gender Equality Department, represented the minister and welcomed the South Korean delegation led by Choi Jae-jin, KF's ASEAN Culture Center Director.The youth exchange program, now in its 12th year, has seen nine Vietnamese delegations visit South Korea and four South Korean delegations visit Vietnam. Approximately 400 young leaders and civil servants from central and local agencies have shared expertise, administrative experiences, and cultural insights during these exchanges. The Ministry of Home Affairs noted that this long-standing collaboration has become a pathway for understanding each country's administrative operations and policy experiences. Participants have examined each other's administrative management systems and policy operations, with some in-depth exchange content serving as reference material for administrative and policy work in both countries.During the discussions, the need to enhance the capabilities of young civil servants in line with changes in Vietnam's administrative system was also raised. Director Doan Duc Hao explained that Vietnam has been pursuing administrative organization simplification, decentralization, delegation of authority, and administrative reform over the past two years, and is implementing a two-tier local government model.As the administrative environment evolves, the competencies required of young civil servants are also expanding. The Vietnamese side emphasized that not only professional skills but also digital proficiency, innovative thinking, and adaptability to new administrative environments have become crucial. The Ministry of Home Affairs particularly values South Korea's accumulated experience in administrative modernization, advanced talent development, national-level digital transformation, and youth participation in socio-economic activities, indicating that there is significant potential to draw on South Korea's experiences during Vietnam's administrative reform process.Prospects for Future CooperationAs the current MOU approaches its final year, both sides discussed the next phase of cooperation. The Vietnamese side proposed future collaboration areas including public administration innovation, building modern local governments, digital transformation of government agencies, youth talent development, job creation and capacity building, support for entrepreneurship and innovation, gender equality, and nurturing outstanding talent. There were also suggestions to broaden the scope of participation. Vietnam proposed including not only relevant specialized agencies and grassroots local governments but also young individuals with exceptional capabilities or ideas in priority cooperation areas.The emphasis was placed on transitioning from the existing 'visits, learning, and exchanges' model to a deeper 'joint research, sharing, and development' approach. The idea is for both sides to select practical topics for joint investigation and research, compiling experiences and ideas that can be applied in the field. Plans are also in place to expand cooperation methods beyond face-to-face delegation exchanges. The Vietnamese side highlighted the need to activate academic conferences, thematic seminars, youth civil servant exchanges, and sharing of specialized materials, while continuing to leverage the network of approximately 400 participants from the past 12 years of the program.Choi Jae-jin, KF's ASEAN Culture Center Director, mentioned during the meeting that he has closely collaborated with the Ministry of Home Affairs since serving as the chief representative of the KF Hanoi office from 2021 to 2024. He stated, "The development of the youth exchange program over the past 12 years is a testament to the friendly relations and cooperation between our two countries."The South Korean youth delegation included young civil servants from 15 agencies, both central and local. Choi explained that this visit allows them to directly observe Vietnam's policy systems and development directions in areas such as diplomatic relations, science and technology, digital transformation, culture, and agriculture. The KF will also begin reviewing the establishment of the next cooperation framework. Choi noted, "We are fully aware of the cooperation proposals put forth by the Vietnamese side as we approach the end of the current MOU, and we will continue discussions with the Ministry of Home Affairs after this visit."Additionally, during the event, officials from Vietnam's Ministry of Foreign Affairs, Ministry of Science and Technology, and Ministry of Culture, Sports and Tourism provided the South Korean youth delegation with key insights from their respective fields. Both sides sought to explore ways to expand the scope of cooperation based on youth exchanges into more substantial joint research and policy experience sharing.* This article has been translated by AI. 2026-09-15 16:16:00
  • Im Jae-man, Head of the National Land Research Institute, Says Housing Supply Alone Wont Ensure Stability
    Im Jae-man, Head of the National Land Research Institute, Says Housing Supply Alone Won't Ensure Stability Im Jae-man, the head of the National Land Research Institute, stated that merely increasing housing supply in the metropolitan area will not ensure stability in the housing market. He explained that in a structure where resources and capital are concentrated in the metropolitan area, it is difficult to meet demand even with increased supply. He emphasized that housing supply policies need to be pursued within the broader framework of national balanced development.During a press luncheon held in Sejong on September 15, Im remarked, "In a situation where resources and capital are flowing into the metropolitan area, it is questionable whether we can handle the influx of demand even if we build more houses there. There are people living in areas like Daechi-dong, struggling with high rental prices due to educational issues, and I believe that without reforming these problems, housing stability will be difficult to achieve."He also stressed that government housing supply policies should be pursued within the context of national balanced development. He noted, "If we continue to supply housing just because there is a shortage in the metropolitan area, it could create a contradictory situation where we are essentially telling people from the provinces to come live in Seoul. The solutions may vary depending on what the top priority policy is, and I believe that the top priority should be national balanced development."Im believes that the concept of housing stability should not be limited to just stabilizing prices. Since his appointment, the National Land Research Institute has formed a 'Special Research Group on Basic Housing Rights.' He explained, "We can view housing stability from various perspectives, such as price stability, affordability, and occupancy stability. I think we should incorporate occupancy stability, affordability, and appropriateness of residence into the concept of housing stability."Looking ahead, the research direction will focus on balanced development and housing stability. Im stated, "The most important issues for the National Land Research Institute are national balanced development and the stability of the land and housing market. From the perspective of improving the quality of life for citizens, I believe housing stability is crucial."Regarding the second phase of public institution relocation, he mentioned that they are researching the connection between target institutions and regional industrial bases. Im said, "We are studying which public institutions should be relocated and where they should go to maximize the relocation effect and align well with the industrial base, but we are not discussing which specific institutions should go to which regions."He explained that the fifth amendment plan for the comprehensive basic plan for Yongsan Park can only proceed after discussions on housing supply between the government and Seoul City are concluded. Im noted, "After Minister of Land, Infrastructure and Transport Kim Yoon-deok proposed a plan to supply housing in part of Yongsan Park, discussions were halted due to a lack of agreement with Seoul City. However, since some possible areas have been mentioned for utilization, I think there may be room for compromise on that level."He added, "The fifth amendment plan is necessary, but changes according to the subsequent plan can only be made after discussions related to housing supply are completed. Currently, we are in a situation where we are waiting for those discussions to conclude."Meanwhile, the National Land Research Institute is a national research organization covering land, urban, housing, real estate, transportation, and construction sectors. Im was appointed as the 19th president in July, with a term lasting until June 30, 2029.* This article has been translated by AI. 2026-09-15 16:12:20
  • Prosecutors Seek Two-Year Sentence for Director Accused of Embezzling Funds from Care Facility
    Prosecutors Seek Two-Year Sentence for Director Accused of Embezzling Funds from Care Facility Prosecutors have requested a two-year prison sentence for the director of Sae Dong Won, a facility for individuals with severe developmental disabilities in Incheon, who is accused of embezzling funds.During the first hearing on September 15 at the Seoul Central District Court, presided over by Judge Ryu Ji-mi, prosecutors sought the sentence for Kim, who faces charges of embezzlement and other offenses.Kim is accused of misappropriating project subsidies and construction funds from Sae Dong Won between June 2019 and October 2020. Additionally, he allegedly deceived a foundation regarding the use of donations, resulting in the theft of 10 million won from October to November 2020.According to prosecutors, the total amount embezzled by Kim is approximately 17 million won. Following an investigation into his actions, he was additionally indicted in June.The court concluded arguments on the case after Kim acknowledged most of the charges. When given the opportunity to make a final statement, Kim responded, "I have nothing to say." A ruling is expected on November 10.Previously, Kim was sentenced to 15 years in prison on September 2 for violating the Sexual Violence Punishment Act (rape). He was found guilty of sexually assaulting three individuals with disabilities residing at Sae Dong Won and physically assaulting one resident multiple times. Kim has appealed the first-instance ruling.* This article has been translated by AI. 2026-09-15 16:12:20
  • Aju News Corporation Signs Media Cooperation Agreement with Kazinform
    Aju News Corporation Signs Media Cooperation Agreement with Kazinform Media organizations from South Korea and Kazakhstan have agreed to exchange articles and videos and collaborate on content creation. This agreement was reached just hours before a meeting between the leaders of the two countries.Aju News Corporation signed a memorandum of understanding on September 15 at its headquarters in downtown Seoul with the TV and Radio Complex, a state-owned enterprise under the Kazakhstan presidential office. Chairman Kwak Young-gil and Kazinform President Raushan Kazhibayeva signed the agreement. The TV and Radio Complex oversees Kazinform, the national news agency of Kazakhstan, and the international broadcasting channel Zhibek Zholy.Aju News Corporation publishes news in Korean and English through its AJP platform and is part of Aju Media Group, which also provides news in Chinese, Japanese, and Vietnamese.The agreement coincides with a busy diplomatic week, as Kazakhstan President Kassym-Jomart Tokayev is visiting South Korea as a state guest. A summit with President Lee Jae-myung is scheduled for the afternoon of the signing day. On September 16, President Lee will host a summit with the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan in Seoul, where the six nations are expected to adopt the 'Seoul Declaration' outlining a framework for long-term cooperation.Under the agreement, both companies will exchange news content while ensuring proper attribution. They will also collaborate on content creation and open their respective correspondent networks upon request. The scope of cooperation includes employee training, internships, distribution of domestic and international media, and support for production equipment. Costs incurred will be determined through separate contracts, and the agreement does not impose financial burdens on either party.Kazhibayeva emphasized that this agreement is not just a bilateral matter. She stated, "This agreement will serve as a gateway to Central Asian countries and open new avenues for cooperation between media companies."Kazinform has reporters across all 17 regions of Kazakhstan and operates offices in Russia, China, Turkey, Europe, Azerbaijan, Uzbekistan, Kyrgyzstan, and Jordan. Its headquarters in Astana publishes articles in Kazakh, Russian, English, Chinese, and Uzbek.The agency began in August 1920 as a regional branch of the Russian telegraph agency and has undergone several name and ownership changes since then. In 2022, it became part of the TV and Radio Complex under the presidential office, and the following year, it was restructured into its current state-owned enterprise form. The operating costs of its affiliated media are funded by the national budget.Kazhibayeva has led the organization since April 2022, previously serving as an advisor to the Prime Minister of Kazakhstan and head of the Ministry of Defense's public relations office.Chairman Kwak highlighted the importance of bridging the gap between the peoples of the two nations. He remarked, "The relationship between Korea and Kazakhstan has a long history, but there remains a significant gap between our peoples. Through this cooperation agreement, Aju News Corporation and Kazinform aim to connect our two countries and bring our peoples closer together."The ties between the two nations predate their diplomatic relations established on January 28, 1992. According to the Ministry of Foreign Affairs, there are 119,542 ethnic Koreans living in Kazakhstan, most of whom are descendants of Koreans forcibly relocated to Central Asia from the Soviet Far East in 1937. Next year marks the 90th anniversary of this forced relocation, and the government plans to increase Korean language and cultural education in the region.* This article has been translated by AI. 2026-09-15 16:12:10