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  • U.S.-Korea Investment Initiative May Accelerate Security Talks
    U.S.-Korea Investment Initiative May Accelerate Security Talks The United States and South Korea are moving forward with the announcement of their first joint investment project, raising expectations that economic agreements could lead to advancements in security negotiations. Discussions are reportedly underway for a meeting between South Korean Foreign Minister Park Jin and U.S. Secretary of State Marco Rubio, which could pave the way for further talks on nuclear submarines and other security issues. However, the complexity of U.S. demands for contributions in the Hormuz Strait adds another layer of negotiation for both countries.According to government sources on the 15th, the South Korean government plans to report to the National Assembly and announce the first U.S. investment project on the 18th. Minister Park is expected to arrive in Washington on the 17th (local time) and is coordinating a meeting with Secretary Rubio around that date. If the meeting occurs, it will mark the first formal bilateral talks in about seven months since February.The Texas liquefied natural gas (LNG) combined cycle project is being considered as the first investment target. Last November, the two countries agreed to a $350 billion investment in the U.S. during a joint statement by their leaders, but disagreements over project selection and investment conditions have delayed the announcement.If this announcement takes place, it will represent the first step in translating the investment agreement into actual projects. Additional discussions regarding conditions for participation in U.S. nuclear power plant construction and the Alaska LNG project are also on the table, meaning that the investment conditions established in this first project could influence future cooperation.With the midterm elections in the U.S. approaching in November, this announcement could serve as a significant opportunity to highlight investment achievements. The energy projects in Texas and Alaska align with the Trump administration's emphasis on expanding energy production. For South Korea, the challenge lies in solidifying the foundation for cooperation while securing project viability and investment conditions.In the diplomatic and security realm, the progress of follow-up negotiations on nuclear submarines, as agreed upon by the leaders, is crucial. While there is hope that the implementation of U.S. investments could accelerate discussions between the two countries, analysts caution that economic achievements may not directly translate into agreements on security issues. The foreign ministers' meeting may present an opportunity to outline specific follow-up procedures and negotiation timelines.The Hormuz Strait issue could also be a variable in the talks. As the U.S. demands increased contributions from its allies, the South Korean government is reviewing various options, including military contributions and technical support, without yet deciding on troop deployment. If the meeting occurs, there may be an exchange of views regarding U.S. demands and the South Korean government's considerations.Minister Park previously spoke with Iranian Foreign Minister Seyyed Abbas Araghchi on the 11th at Iran's request. On the 14th, he met with three former U.S. military commanders who had served in South Korea. However, the specific content of those discussions has not been disclosed, leaving it unclear whether the issue of troop deployment in Hormuz was addressed.Jang Ji-hyang, a senior researcher at the Asan Institute for Policy Studies, stated, "If there is substantial military contribution in the Hormuz Strait, a negotiation strategy will be needed to achieve corresponding progress on trade issues and security matters, including nuclear submarines." He added, "We should not underestimate the likelihood that the Trump administration's demands will translate into actual actions, and we must realistically assess U.S. situations and demands to ensure we secure what is necessary."* This article has been translated by AI. 2026-09-15 16:12:00
  • Chinese Stock Market Declines Amid Economic Concerns; Memory Chip Stocks Rise
    Chinese Stock Market Declines Amid Economic Concerns; Memory Chip Stocks Rise The Chinese stock market continued its decline on September 15, following a drop the previous day. Concerns over U.S. interest rate hikes and a domestic economic slowdown weighed on the indices. The Shanghai Composite Index closed down 0.54% at 3,864.28, the Shenzhen Component Index fell 0.72% to 13,287.97, and the ChiNext Index dropped 1.15% to 3,247.92.International oil prices have risen again due to the prolonged conflict in Iran and the shutdown of key oil pipelines in Saudi Arabia. Brent crude reached over $108 per barrel during trading, while West Texas Intermediate (WTI) closed at $101.39 per barrel. On the same day, the yield on the 10-year U.S. Treasury note rose to 5.012%, surpassing 5% for the first time in nearly three years. The 30-year yield also climbed to around 5.37%. A survey conducted by Reuters among 101 economists indicated that 85% expect a 0.25 percentage point increase in the U.S. benchmark interest rate. The Federal Open Market Committee (FOMC) is set to meet on September 15 (U.S. local time) to decide on the rate hike.Additionally, China's domestic market continues to struggle. According to the National Bureau of Statistics, retail sales of consumer goods in August increased by only 0.4% compared to the same period last year, significantly below the Reuters forecast of 0.8%. Furthermore, cumulative fixed asset investment in August decreased by 7.2% year-on-year, worsening from a 6.7% decline in July. Real estate development investment also fell by 19.9% in August, indicating ongoing market weakness.On a positive note, stocks related to wind power showed strength. Companies such as Jixin Technology, Dajin Heavy Industry, and Tiensun Fengneng hit their upper price limits. A recent analysis by a Norwegian consulting firm revealed that Europe is experiencing a structural supply shortage in offshore wind power installations. Since 2020, the price of complete offshore wind turbines has risen by over 40%, significantly outpacing the 20% increase in manufacturing costs during the same period.Memory semiconductor stocks also saw gains. Dawei Guofen reached its upper price limit, while Hengshuo Guofen recorded significant increases. Reports indicate that Samsung Electronics has proposed a 30-40% increase in memory prices for the first quarter of next year compared to the prices offered in the third quarter of this year, attracting buying interest in the memory sector. This further confirms the upward trend in prices for both DRAM and NAND memory semiconductors from Samsung.Meanwhile, the People's Bank of China set the yuan's central parity rate against the dollar at 6.6760 yuan, a decrease of 0.0028 yuan from the previous day, reflecting a 0.04% increase in the value of the yuan.* This article has been translated by AI. 2026-09-15 16:12:00
  • MBK Partners Targets Japans Rental Housing Market with Leo Palace 21 Acquisition Bid
    MBK Partners Targets Japan's Rental Housing Market with Leo Palace 21 Acquisition Bid Private equity firm MBK Partners will participate in a tender offer to take Japan's rental housing management company Leo Palace 21 private.MBK Partners announced on September 15 that it is joining Hikari Tsushin and a subsidiary of NEC Capital Solutions in the tender offer for Leo Palace 21.The acquisition will be conducted through a special purpose company (SPC) established by the three firms, with a total investment of up to 267.6 billion yen (approximately 3.3 trillion won).Hikari Tsushin will hold a 34% stake in the SPC, while MBK Partners and NEC Capital Solutions will each own 33%.The tender offer price is set at 1,000 yen per share, representing a premium of about 45% over Leo Palace 21's closing price of 691 yen the previous day.The tender offer will run from today until the end of next month, with a minimum purchase requirement of 48.56% of the issued shares for the offer to be valid.If successful, Leo Palace 21 is expected to hold an extraordinary shareholders' meeting as early as January next year to initiate the delisting process.This transaction aligns with MBK Partners' special situations (SS) investment strategy in Japan, which seeks opportunities in companies that are undervalued due to restructuring, market changes, or capital structure adjustments. MBK Partners operates a separate SS strategy focused on South Korea, Japan, and China.Additionally, MBK Partners has recently intensified its investments in Japan, having launched a tender offer on September 10 for the acquisition of Sharing Technology, a platform for daily living services.* This article has been translated by AI. 2026-09-15 16:08:20
  • Trumps Pressure Intensifies Discussions on Troop Deployment to Hormuz
    Trump's Pressure Intensifies Discussions on Troop Deployment to Hormuz Donald Trump, the President of the United States, has stated that countries not contributing to the security of the Hormuz Strait will be billed for their lack of support, increasing pressure on the South Korean government regarding troop deployment decisions. As defense discussions between South Korea and the U.S. are set to take place this week, President Lee Jae-myung is also expected to engage directly, raising questions about the specifics of the government's military contributions. However, concerns about an expanded conflict in the Middle East and the safety of troops have made the conditions for withdrawal a critical consideration, potentially prolonging the government's deliberations.According to diplomatic and security officials, South Korea and the U.S. will hold a meeting of the Integrated Defense Consultative Body (KIDD) in Busan from September 16 to 18 to discuss issues such as the transfer of wartime operational control, joint defense posture, and cooperation on North Korea. Although troop deployment is not an official agenda item, the U.S. has recently emphasized the need for allied contributions to the security of the Hormuz Strait, making it likely that the issue will be addressed during the talks.On September 14, Trump stated on his social media platform, Truth Social, that “countries around the world that have not helped us at all must repay the U.S. when this ridiculous conflict is over, and they will.” He further claimed, “We are doing much more for other countries than for ourselves.”This reiterates the possibility that the U.S. may demand not only military contributions from countries utilizing the Hormuz Strait but also financial burdens. The South Korean government must consider the safety of maritime routes, the U.S.-South Korea alliance, and the risks of becoming embroiled in Middle Eastern conflicts.The deteriorating situation in the Middle East is complicating the government's decision-making. Trump hinted on September 13 that he might deploy troops to Iran to secure oil supplies. If such military deployments materialize, there are concerns that a mission initially focused on protecting limited maritime routes could become prolonged or change in nature.As the government explores options beyond troop deployment, discussions within the ruling party include conditional troop deployment based on peace agreements and troop safety. Jin Sung-jun, a member of the National Assembly's Defense Committee, stated in a recent radio interview that a “permissive environment” must be established for South Korean forces to carry out their mission safely.At the practical review stage, the level of military contribution and the conditions for ending such contributions have emerged as key issues in the troop deployment debate. The government is reportedly reviewing criteria for mission completion and troop withdrawal based on recent assessments from the Ministry of National Defense's local investigation team.President Lee Jae-myung is expected to express his stance on major national issues this week. Some speculate that his address may include the government's military contribution level and review direction regarding the Hormuz Strait. Even if the government moves forward with military contributions to the Hormuz Strait, securing a safe “exit strategy” will likely be crucial for public persuasion.Sung Il-kwang, a professor at Sogang University's Euro-Mena Research Institute, noted, “It is difficult to set withdrawal conditions as we cannot predict how the war will unfold,” but emphasized the need to clarify withdrawal conditions in advance, stating that this will be key to persuasion. He added, “Given the extensive pressure from the U.S., some form of contribution, at least technical support, seems inevitable,” and assessed that the government must make a difficult decision considering various issues tied to the U.S.-South Korea relationship. 2026-09-15 16:08:20
  • Disabled Craftspeople Compete in National Skills Competition in Busan
    Disabled Craftspeople Compete in National Skills Competition in Busan Disabled individuals from across the country, including those who learned precious metal crafts in their 60s and young people preparing to become streamers through video editing skills, have gathered in Busan. They will compete in 41 different job categories and select representatives for next year's international competition.The Ministry of Employment and Labor, in collaboration with the Busan Metropolitan City, is hosting the 43rd National Disabled Skills Competition from September 15 to 18. A total of 477 athletes representing various provinces and cities are participating in this event, which is organized by the Korea Employment Agency for the Disabled and the Korea Association for Employment of the Disabled. The competitions will take place at three venues: BEXCO, Korea Polytechnic University Busan Campus, and Busan Mechanical Engineering High School.There are 41 competition categories, including 19 regular, 13 demonstration, and 9 leisure and daily living skills. The fields cover a wide range of technical areas, such as computer-aided mechanical drafting, computer programming, precious metal crafts, CNC lathe operation, mobile app development, and 3D printing. Categories also include data entry, video content editing, office administration, and barista skills for participants with developmental disabilities.Competitors secured their spots in the national competition through local qualifying events. For instance, one participant in the precious metal crafts category developed an interest in jewelry after last year's local competition. Starting from reading blueprints and repeatedly watching demonstration videos, they trained hard, won a gold medal at the local event, and successfully secured a job while preparing for the national competition.Another participant in video content editing began learning editing skills to pursue a career as a streamer. After winning a gold medal at the local competition, they are now focused on building their skills to create their own content.Winners will receive certificates, medals, and cash prizes. For regular categories, the prizes are 12 million won for gold, 8 million won for silver, and 4 million won for bronze. For demonstration categories, the prizes are 6 million won, 4 million won, and 2 million won, while leisure and daily living skills categories offer 2 million won, 1 million won, and 600,000 won.Gold, silver, and bronze medalists will be exempt from the written and practical exams for the national technical qualification in their respective fields for two years from the date of their award.This competition will also serve as the selection event for the national team for the 11th International Abilympics, which will be held in Helsinki, Finland, next year. The final selection of representatives will be confirmed after verification procedures for any disqualifying factors.During the competition period, there will also be side events, including career and employment fairs, vocational experiences, disability awareness improvement performances, and accessible bus tours.Vice Minister of Labor Kwon Chang-jun stated, "This competition is more than just a showcase of skills; it is a stage where the value of the skills honed by the athletes connects dreams and opens up better job opportunities and a new future. The government will significantly increase related budgets to ensure that people with disabilities can dream freely and work confidently, focusing on tailored vocational training, creating quality jobs centered on local communities, and establishing safe and respectful workplaces."* This article has been translated by AI. 2026-09-15 16:08:10
  • Ruling Party Faces Criticism Amid Declining Presidential Approval Ratings
    Ruling Party Faces Criticism Amid Declining Presidential Approval Ratings As presidential approval ratings decline, the leader of the ruling party has invoked the impeachment of former President Roh Moo-hyun. The focus has shifted from understanding why the public is disappointed to who is shaking the presidency. However, the ruling party, which holds a majority in the National Assembly, must address a different question: how much has it improved the lives of citizens with its significant power and resources?On September 14, Kim Min-seok, leader of the Democratic Party, likened internal criticism of the president to the early signs of Roh's impeachment. He also directly criticized Gyeonggi Governor Lee Jae-myung's harsh remarks. The following day, he responded to comments from Cho Kuk, head of the Innovation Research Institute, who criticized the impeachment analogy, framing it as an attempt to undermine the president. The debate surrounding personnel and reform has shifted to whether it is about protecting or shaking the presidency.It is true that internal conflicts can burden governance. There is a historical precedent where political allies participated in Roh's impeachment. However, it is not appropriate to link today’s criticisms to the early signs of impeachment. While touching on past wounds may rally the base, it does not provide a reason for the disillusioned public to return. Political metaphors cannot substitute for the answers needed by citizens concerned about housing prices and living costs.In light of the president's declining approval ratings, what has the ruling party reflected upon? Discontent regarding personnel and policies is not solely the president's responsibility. The ruling party drafts legislation, reviews budgets, and adjusts policies through party-government consultations. It also participates in confirmation hearings for ministerial nominees. When it comes to legislation, is the ruling party merely a support organization for the president when results are questioned? If the president's judgment is flawed, the ruling party must also answer what it filtered out and corrected.Critics within the ruling party echo similar sentiments. Governor Lee stated that the president is anxiously clinging to insurrectionist forces. Such remarks cannot monopolize the legitimacy of reform. If judicial reform is lacking, the ruling party must identify what is deficient in the laws and systems it designed and implemented, and propose alternatives. The intensity of criticism directed at the president does not absolve one of responsibility.The reason the public entrusted a majority of seats is clear. They expect the ruling party to create laws it deemed necessary while in opposition and to resolve issues it promised to address upon taking power. This does not mean competing over how harshly to criticize the president or how resolutely to defend him. The question of what will be fixed amid fierce exchanges should not be obscured. If the aftermath of the debate only reveals which side one stood on, it would mean a waste of the ruling party's time.Now, the ruling party must focus on the achievements of livelihood legislation. It should examine what gaps exist in protecting tenants' deposits and housing stability, why it takes so long for workers owed wages to receive their money, and what changes are needed to alleviate the burdens on small business owners. If new laws are necessary, they should be created, and if existing laws are ineffective, both enforcement and budgeting must be addressed. Simply passing a few bills is insufficient; the measure of success is whether the public's issues are genuinely resolved.Every party claims to prioritize the public's livelihood. The difference lies in what issues are addressed first, how necessary resources are secured, and when effects will be realized. The party and government must present this order and timeline, negotiate in the National Assembly, and produce results, which is the essence of governing capability. A majority in the assembly is both a means to achieve this and a basis for holding greater responsibility when it fails.Invoking 'Roh Moo-hyun's impeachment' may quiet internal dissent. However, it will not alleviate the burdens on grocery bills or the anxieties of tenants. While rallying the base may be a political achievement, it does not equate to governance success. The ruling party must focus on the challenging present rather than the public's uneasy memories. If it aims to protect the president, it must first create reasons for the public to support this administration.* This article has been translated by AI. 2026-09-15 16:08:10
  • Building the Future on a 3,000-Year Legacy: Uzbekistans Third Renaissance
    Building the Future on a 3,000-Year Legacy: Uzbekistan's 'Third Renaissance' The Islamic Civilization Center in Tashkent, Uzbekistan's capital, is impressive in scale. Covering an area equivalent to 14 soccer fields, it encapsulates 3,000 years of Uzbekistan's history. The three-story building, which cost approximately $161.8 million, has a total floor area exceeding 42,000 square meters, with a central dome soaring 65 meters high. However, this massive structure aims to showcase more than just the past. The exhibition begins with ancient civilizations predating Islam, progresses through the Islamic Golden Age in Central Asia and the Timurid dynasty, and culminates in modern Uzbekistan following its independence. The final space invites visitors to explore 'New Uzbekistan — the Foundation of the Third Renaissance.' After reflecting on 3,000 years of history, visitors arrive at a vision for the future. President Shavkat Mirziyoyev's national vision of 'New Uzbekistan' intersects with this point in history. Once a land that produced world-renowned mathematicians, astronomers, physicians, and scholars, it aims to reignite education, science, and technological innovation to usher in a new era. The Islamic Civilization Center embodies this vision in a physical form. From the Quran to Science: A Chronicle of Civilization At the center's heart lies the ancient 'Uthman Quran.' Surrounding it are manuscripts, archaeological artifacts, and cultural heritage that illustrate centuries of Islamic scholarship. During what the Uzbek government calls the 'First Renaissance' from the 9th to 12th centuries, scholars emerged who transformed the course of global knowledge in Central Asia. Al-Khwarizmi laid the foundations for mathematics, while Al-Biruni made significant contributions to astronomy and natural sciences. Ibn Sina had a profound impact on medicine and philosophy. The 'Second Renaissance' is linked to the Timurid dynasty. In the 15th century, the ruler and astronomer Ulugh Beg established an observatory in Samarkand, leading precise astronomical observations. The center does not treat these figures merely as religious icons. It connects mathematics, medicine, astronomy, philosophy, and religious studies into a unified intellectual history. The Mirziyoyev administration takes this a step further by proposing a 'Third Renaissance.' Just as global scholarship flourished in the past, today's youth are encouraged to achieve intellectual breakthroughs in universities, research institutions, artificial intelligence, and advanced technology. The center serves as both a museum displaying history and a national declaration of Uzbekistan's future aspirations. 35th Anniversary of Independence: President Reiterates 'Civilization' This message was clearly articulated during the 35th anniversary celebrations of Uzbekistan's independence. On August 28, just four days before Independence Day, around 6,000 people gathered at a large outdoor amphitheater in 'New Tashkent.' After discussing economic development, education, and national identity, President Mirziyoyev turned the conversation to Uzbekistan's Islamic heritage. “We have built unique scientific and educational institutions such as the Islamic Civilization Center and the Imam Bukhari and Burkhaniddin Margilanani memorial complexes,” he stated. As he finished speaking, the audience erupted in applause. This moment encapsulated the significance of Islamic civilization in President Mirziyoyev's vision for 'New Uzbekistan.' The government seeks to revive not just religion but also the era when Islamic civilization led advancements in science, scholarship, enlightenment, and cultural development, linking it to the current national development strategy. Kirill Abramov, a professor at the University of Texas, explained that since the dissolution of the Soviet Union, Islam in Central Asia has played a multifaceted role encompassing “religious revival, cultural restoration, and national identity formation.” In Uzbekistan, this cultural revival is intertwined with the nation's future vision. Independence Restores History In his Independence Day speech, President Mirziyoyev did not merely describe Uzbekistan's independence as a political sovereignty that began in 1991. He emphasized that the nation's roots extend back over 3,000 years, mentioning figures such as Al-Khwarizmi, Ahmad al-Farghani, Al-Biruni, Ibn Sina, Ulugh Beg, and Alisher Navoi. “Independence has restored our honor and dignity, our sacred religion, our mother tongue, and our long-forgotten national values,” he said. This is why the Islamic Civilization Center holds a nationally significant position. The story conveyed through the center is straightforward. This land once hosted a brilliant civilization, and through independence, that history has been reclaimed. Now, it is time to transform that legacy into an asset for future development. Since its official opening on March 17, the center's visitor flow follows this same narrative. Guests starting from ancient Uzbekistan move through the Islamic Golden Age and the Timurid dynasty to modern independent Uzbekistan. However, the exhibition's endpoint is not the past. At the end lies 'New Uzbekistan' and the Third Renaissance. President Mirziyoyev has defined this center as one of the foundations of the Third Renaissance, emphasizing that it must also serve as a scientific, secular, and modern institution. Immediately after mentioning the Islamic Civilization Center and the reconstructed Imam Bukhari memorial complex in his Independence Day speech, he transitioned to discussions about youth, education, and the national development plan for the next decade. He characterized the next ten years as a period of 'national leap,' proposing that the first of seven national programs the government will pursue is to make knowledge and capabilities the core assets of the nation. This connects the past's civilization with the future's talent into a single narrative. Restoration of History from Tashkent to Samarkand These national projects are not limited to Tashkent. The Imam Bukhari memorial complex near Samarkand is another symbolic space that President Mirziyoyev directly mentioned in his Independence Day speech alongside the Islamic Civilization Center. Born near Bukhara in the 9th century, Imam Bukhari compiled the 'Sahih al-Bukhari,' one of the most authoritative collections of hadith for Sunni Muslims, documenting the sayings and actions of the Prophet Muhammad. Uzbekistan has extensively reconstructed his burial site. The 45-hectare complex includes a large mausoleum, a mosque accommodating 10,000 people, four 75-meter-high minarets, a museum, and research and educational facilities. Since the reconstruction, the daily visitor capacity has increased from about 12,000 to over 65,000. The government has also invested 570 billion som, approximately $65 million, in developing surrounding hotels and commercial services. Plans include four-star and three-star hotels, as well as family guesthouses. According to the government, over 1 million domestic and international visitors had visited the complex by early May. The Islamic Civilization Center in Tashkent also welcomed around 500,000 visitors within two and a half months of its opening by June 1. The commonality between these two projects is clear. They are not merely restoring Islamic cultural heritage as pilgrimage sites or tourist attractions but are reconstituting them as national assets that encompass research, education, international exchange, and the tourism industry. Enlightenment Against Ignorance The image of Islam that Uzbekistan seeks to present to the international community aligns with this vision. The government emphasizes knowledge, tolerance, scholarship, and peace as core principles. This is encapsulated in the phrase 'Enlightenment Against Ignorance.' Shovosil Ziyodov, director of the Imam Bukhari International Scientific Research Center, stated in an interview, “Our people have always lived by Islamic philosophy as a guide in their daily happiness, sorrow, and trials of fate. We are creating a new narrative that describes Islam as a religion of science, creativity, and tolerance.” He explained that preserving and inheriting Uzbekistan's Islamic heritage serves as “a powerful public diplomacy tool and a part of soft power.” This vision was first presented by President Mirziyoyev in 2017 when he announced plans for the Islamic Civilization Center at the United Nations. He emphasized that ignorance and intolerance can create an environment for the growth of extremism, and that education and the humanistic traditions of Islam must be leveraged to counter this. The Islam represented by the center is one of goodness and peace, knowledge, and enlightenment, not violence or radicalism. Center of Islamic Civilization, Not an Islamic State Uzbekistan is now actively utilizing this historical asset in its diplomacy. It is expanding international cooperation in manuscript digitization, historical research, and cultural heritage preservation, while also opening an office for the Islamic World Educational, Scientific and Cultural Organization (ICESCO) in Tashkent. President Mirziyoyev has instructed officials to promote the Islamic Civilization Center to 55 countries and to organize events at the UN offices in New York and Geneva, as well as at UNESCO headquarters in Paris, to introduce scholars from Uzbekistan such as Imam Bukhari, Imam Maturidi, and Imam Tirmidhi. Since its opening, the center has also become a venue for international forums involving scholars, journalists, and cultural figures from around the world. Uzbekistan's desired image in the international community is distinct from that of a simple 'Islamic state.' It identifies itself as a 'center of Islamic civilization' that has produced scholars and manuscripts, as well as advancements in astronomy, medicine, mathematics, and philosophy. This identity provides a historical and cultural resonance with Islamic countries while also establishing a foundation for collaboration with secular international organizations like UNESCO in the fields of science and culture. Importantly, this movement is distinct from any attempts to religiously transform Uzbekistan's national system. The Uzbek constitution defines the state as a 'sovereign democratic, legal, social, and secular state.' Article 75 explicitly states the separation of religious organizations and the state. The religious policy concept adopted in 2025 also reaffirmed freedom of conscience and the secular nature of the state. Thus, the rise of the Islamic Civilization Center as a national symbol does not signify the Islamization of the state but rather a recontextualization of Islamic civilization within the narrative of the secular state of Uzbekistan. It aims to restore historical and cultural memories that faded during the Soviet era and to transform the identity reclaimed after independence into an asset for national development. At the end of 3,000 years of history beneath the grand dome in Tashkent lies the 'Third Renaissance.' What Uzbekistan seeks to convey through the Islamic Civilization Center is not merely nostalgia for a glorious past but a forward-looking declaration to reclaim a history that once led the world in scholarship and civilization, and to leap forward once again through education, science, and innovation. In this sense, the Islamic Civilization Center is not just a museum preserving the past but a starting point for moving toward a 'New Uzbekistan.'* This article has been translated by AI. 2026-09-15 16:04:20
  • Central Asia: Bridging New Histories in Eurasia
    Central Asia: Bridging New Histories in Eurasia Central Asia, a land of deserts, steppes, snow-capped mountains, and flowers, remains a distant and unfamiliar region despite being part of the Asian continent.However, a closer look reveals that this distance is surprisingly short. The cultural resonance of Tengriism, which reveres the sky, evokes the Dangun myth, while the legacy of General Hong Beom-do, a symbol of the armed independence movement during the Japanese occupation, and the history of over 300,000 Korean compatriots are etched in this land.Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan.The five Central Asian countries, located in the heart of Eurasia, are no longer a 'distant periphery.'Rich in oil, natural gas, uranium, and essential minerals, they serve as a strategic crossroads connecting China, Russia, Europe, and the Middle East. The value of Central Asia has risen amid disruptions in supply chains and energy security due to the Russia-Ukraine war, U.S.-China competition, and instability in the Middle East. This is why major countries, including China, Russia, the U.S., the EU, and Japan, are increasingly engaging in high-level cooperation with the five Central Asian nations.Central Asia is also expanding its strategic options by partnering with multiple countries rather than relying on a single great power. This presents an opportunity for South Korea.The trust built since the establishment of diplomatic relations in 1992, along with experience in manufacturing, digital technology, and infrastructure development, aligns with Central Asia's resources, youthful markets, and growth potential. By 2025, trade between the two sides is expected to exceed $10 billion for the first time.On September 16-17, leaders from South Korea and the five Central Asian countries will gather for the first time.President Lee Jae-myung will meet with Uzbekistan's President Shavkat Mirziyoyev, Kazakhstan's President Kassym-Jomart Tokayev, Kyrgyzstan's President Sadyr Japarov, Tajikistan's President Emomali Rahmon, and Turkmenistan's President Serdar Berdymukhamedov to discuss a new framework for South Korea-Central Asia relations.A multilateral summit with the six leaders will take place on the 16th, followed by bilateral meetings between President Lee and the Central Asian leaders on the 17th.Alongside the summit, a South Korea-Central Asia Business Summit will also be held, focusing on 'Future Cooperation for Growth and Innovation.' Government officials and business leaders from South Korea and Central Asia will explore ways to translate the cooperation discussed in diplomatic talks into actual investments and industrial collaboration.The significance of this summit extends beyond merely what can be gained from Central Asia.It aims to create a sustainable partnership that connects resources and markets, as well as supply chains, logistics, digital technology, climate, culture, and talent.The South Korea-Central Asia Cooperation Forum, which began in 2007, will elevate its intergovernmental cooperation to a high-level consultative body through this summit.Three decades of exchanges are entering a new era of diplomatic engagement.The challenge now is how to integrate Central Asia's resources with South Korea's industries and technologies, as well as the growth potential of Central Asia with the experience of South Korean companies.This summit marks the starting point for transforming a long-standing relationship into shared prosperity.Central Asia is no longer a blank space on the map.It represents a new path to broaden South Korea's diplomatic and economic horizons. This summit in Seoul is the first milestone on that path.* This article has been translated by AI. 2026-09-15 16:04:20
  • Central Asia Emerges as Key Industrial Partner for South Korea
    Central Asia Emerges as Key Industrial Partner for South Korea The five countries of Central Asia are no longer just seen as resource suppliers or emerging export markets. With abundant energy, critical minerals, a young population, and a demand for industrial modernization, they are emerging as new industrial partners for South Korean companies, expanding into manufacturing, infrastructure, and the digital economy.Each country has distinct strengths. Kazakhstan is expanding its refining, petrochemical, logistics, and manufacturing sectors based on oil, natural gas, uranium, and copper. South Korean companies, including Samsung Electronics, LG Electronics, and POSCO International, have broadened their activities, ranging from Lotte to construction firms.Uzbekistan, with the largest population in Central Asia, has a manufacturing base in automotive, machinery, and textiles, along with rich deposits of gold, uranium, copper, and natural gas. South Korean companies such as Hyundai Construction, Hyundai Engineering, POSCO International, Korean Air, and Lotte have established a strong presence there.In Turkmenistan, a major natural gas producer, South Korean firms like Hyundai Engineering, Hyundai Construction, and Daewoo Engineering have built a presence centered around gas processing, petrochemical, and fertilizer plants.Kyrgyzstan, with its gold and hydropower resources, is seeing South Korean companies expand into consumer goods, finance, and heating equipment. In Tajikistan, South Korean engineering and ICT firms are exploring new markets in hydropower, power grids, solar energy, energy storage systems, transportation infrastructure, and digital government.The future challenge is to move beyond exports and one-time plant contracts. There is a need to connect the joint development and processing of critical minerals, local production, technology transfer, and workforce training into a cohesive industrial ecosystem. By combining South Korea's manufacturing technology and business experience with Central Asia's resources and growth potential, the relationship can evolve from 'Korea sells, Central Asia buys' to a long-term industrial partnership where both invest, produce, and enter third-country markets together.In Kazakhstan, South Korean companies have established a broad business base ranging from electronics manufacturing and confectionery to trade and large infrastructure projects.Samsung Electronics Central Eurasia has expanded its business beyond simple electronics sales to local production. In December 2024, it signed a joint production agreement for TVs and began manufacturing Samsung TVs and washing machines at the Silk Road Electronics plant in Karaganda Province in 2025. Most recently, in August 2026, it signed an agreement with Kazakhmys to apply Samsung's enterprise mobile technology to geological exploration and field operations.LG Electronics Kazakhstan has been operating in the local electronics and home appliance market for a long time. Most recently, in April 2026, it signed an agreement with Kazakhstan's intellectual property authority to strengthen joint responses against counterfeit products distributed through online platforms.LOTTE Rakhat is one of the largest South Korean manufacturing companies in Kazakhstan, producing and selling confectionery products such as chocolate and snacks. According to the Kazakhstan Stock Exchange, as of July 1, 2026, LOTTE Rakhat recorded operating revenue of 55.04 billion tenge and a net profit of 3.47 billion tenge.SK Ecoplant participated in the construction of the Almaty Ring Road (BAKAD), Kazakhstan's first large-scale public-private partnership (PPP) project. The road, which spans 66 kilometers, has a total project cost of approximately $740 million, with construction costs reaching about $540 million. Since the road's opening in June 2023, SK Ecoplant and the Korea Expressway Corporation have also been involved in its operation for 16 years.In KyrgyzstanThe scale of South Korean companies' presence in Kyrgyzstan is relatively smaller than in Kazakhstan or Uzbekistan, but they are expanding their business base in various sectors, including direct sales, consumer goods, finance, and heating equipment.Atomy Kyrgyzstan operates a local subsidiary in Bishkek, selling cosmetics, health supplements, food, and household goods through direct sales. As of September 2026, approximately 190 products are registered on Kyrgyzstan's online mall, establishing a localized distribution network beyond simple exports.Aekyung Industrial's Kerasys hair care products are also sold in Kyrgyzstan. Although Aekyung does not disclose individual sales figures for Kyrgyzstan, Kerasys sales in the CIS region have grown at an average annual rate of 18.4% from 2020 to 2025, with a 37% increase in the first five months of 2026 compared to the same period last year. These figures represent the overall performance in the CIS region, not just Kyrgyzstan.BNK Finance, supported by Korean BNK Capital, is conducting more direct local financial operations. The company began operations in Kyrgyzstan in 2022, and its loan balance surpassed 400 million som in July 2025, increasing to 404.3 million som by the end of that month. It currently offers consumer finance, auto loans, mortgage loans, and small business loans.In TajikistanSouth Korean companies in Tajikistan are primarily focused on government-led energy, transportation, and digital infrastructure projects rather than consumer goods.Youngin Energy is responsible for project management consulting for the second phase of a power supply project supported by the South Korean government, which runs from 2023 to 2026. The total project scale promoted by KOICA is $14 million, including the construction of new substations, expansion of existing substations, and the establishment of approximately 60 kilometers of transmission and distribution lines. Upon completion, it is expected to supply electricity to 15 villages and over 8,000 residents.Yushin Engineering participated in a feasibility study for a new railway connecting Zhaloliddin Balkhi and Panji Poyon in southern Tajikistan, in collaboration with South Korean transportation research institutions.Korea IT Consulting is involved in the Tajik government’s digital transformation project. The company was selected as the project management consulting firm for an ODA project worth a total of $6.5 million, which will run from 2024 to 2028. In August 2026, KOICA and the Tajik government officially launched the project, which includes a consortium involving Korea IT Consulting and FutureNuri.In TurkmenistanSouth Korean companies in Turkmenistan have primarily built their business base around large-scale energy and industrial projects led by the government.Hyundai Engineering, Hyundai Construction, and LX International, then known as LG International, participated in a consortium for the construction of the Kiyanly Gas Chemical Complex with Japanese companies. This facility is designed to process 5 billion cubic meters of natural gas annually and produce 400,000 tons of ethylene and 80,000 tons of polypropylene. According to Japan's Toyo Engineering, the consortium's contract value exceeds $800 million, with the total investment in the project around $3 billion.Hyundai Engineering has continued its collaboration with the Turkmen government even after the complex's construction. It is currently pursuing the second phase of the Kiyanly Polymer Plant's normalization project and subsequent operation and maintenance contracts. Additionally, Hyundai Engineering has undertaken several petrochemical projects in Turkmenistan, including a $1.3 billion desulfurization facility project at the Galkynysh gas field and a $470 million project at the Turkmenbashi Oil Refinery.Hyundai Construction has also built a significant business presence in Turkmenistan by participating in the Kiyanly Gas Chemical Complex consortium alongside Hyundai Engineering, LG International, and Toyo Engineering.Daewoo Engineering is currently executing one of the largest new projects by a South Korean company in Turkmenistan. In May 2025, Daewoo Engineering signed a final EPC contract for the construction of the Turkmenabat Mineral Fertilizer Plant, valued at $784 million, including VAT, which is approximately 1.08 trillion won at the time of the exchange rate. The plant is designed to produce 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate annually, with a construction period of 37 months after the groundbreaking.In UzbekistanUzbekistan has one of the longest histories of South Korean companies' presence in Central Asia and boasts the most diverse range of business sectors. South Korean firms are active in industries ranging from power generation and gas processing to textiles, hotels, and aviation.Hyundai Construction participated in the construction of the Talimarjan Combined Cycle Power Plant alongside POSCO Daewoo. Completed in 2017, this project was valued at $862 million and added a total generation capacity of 929 MW. At the time of completion, the new power facilities were expected to account for about 6.6% of Uzbekistan's total electricity production.Hyundai Engineering has been involved in some of the largest gas projects in Central Asia in Uzbekistan. It participated in the basic design (FEED) of the Kandym gas field development project and subsequently secured an EPC contract worth $2.66 billion for the same project. The completed Kandym gas processing facility can process 8.1 billion cubic meters of natural gas annually. According to Hyundai Engineering, approximately 10,000 jobs were created during construction, and about 2,000 permanent jobs were established after completion.POSCO International has been a representative long-term player in Uzbekistan's cotton industry since 1996. It established spinning mills in Ferghana in 2006 and in Bukhara in 2008, currently producing about 50,000 tons of cotton yarn annually. In March 2022, it expanded its business scope by securing 5,210 hectares of cotton farmland in the Ferghana region for raw material cultivation.Korean Air has also participated in the development of Uzbekistan's aviation and logistics industry beyond passenger transport. In 2008, it began developing a complex logistics center at Navoi International Airport in collaboration with Uzbekistan Airways and started cargo flights from Navoi.* This article has been translated by AI. 2026-09-15 16:04:10
  • Koreas Small Business Agency Offers Financial Aid to Disaster-Affected Companies
    Korea's Small Business Agency Offers Financial Aid to Disaster-Affected Companies The Small and Medium Business Administration announced on September 15 that it will provide disaster funds to small and medium-sized enterprises affected by natural disasters, including heavy rainfall.Following the designation of Geoje and Tongyeong in South Gyeongsang Province as special disaster areas due to recent heavy rains, the agency plans to offer direct loans to affected businesses.The loan period for disaster funds is two years of grace followed by three years of repayment, with a fixed interest rate of 1.9%. The maximum loan amount is 1.5 billion won per company, within the range of the reported damage.Small and medium-sized enterprises seeking support must report their damages to the relevant local government and obtain a 'disaster small business confirmation certificate' to submit to the agency.Kang Seok-jin, the head of the Small and Medium Business Administration, stated, "We will ensure timely support for disaster funds not only for areas affected by heavy rainfall but also for future disasters to facilitate rapid recovery and normalization of operations."Meanwhile, the agency has previously provided disaster funds to businesses affected by wildfires in North Gyeongsang Province and droughts in Gangwon Province.* This article has been translated by AI. 2026-09-15 16:04:00