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  • Competition Intensifies in Third Central Contract Market for Energy Storage Systems
    Competition Intensifies in Third Central Contract Market for Energy Storage Systems The government is expected to announce the bidding for the third central contract market for energy storage systems (ESS) by the end of this month. Major battery manufacturers LG Energy Solution, Samsung SDI, and SK On are ramping up production of lithium iron phosphate (LFP) batteries to secure contracts. Although the government has stated it will prioritize quality over low bids, LFP batteries are seen as advantageous for profitability and market share compared to nickel-cobalt-manganese (NCM) batteries.According to the battery industry on September 18, the Korea Power Exchange is set to release the bidding announcement for the third ESS central contract market around the Chuseok holiday. To ensure a smooth bidding process, system checks began last week.As domestic battery companies face declining performance and factory utilization due to stagnant electric vehicle demand and aggressive pricing from Chinese competitors, the growth of the ESS market driven by renewable energy and AI data centers is expected to be a key future opportunity for the domestic battery industry.The government has already created a total of 1,128 megawatts (approximately 6.8 gigawatt-hours) of new demand through the first and second central contract markets, aiming to expand the domestic ESS market and support the battery industry. The ESS central contract market, led by the Ministry of Environment and the Korea Power Exchange, aims to address the uniformity issues in power generation associated with renewable energy by securing large-scale storage systems through competitive bidding. Selected operators will establish large-scale ESS facilities across the country and operate them as power system resources for 15 years.The third central contract market is expected to select operators for a capacity of around 560 megawatts, similar to the first and second rounds. In the first market, Samsung SDI captured about 76% of the total 563 megawatts, while LG Energy Solution secured 24%, and SK On did not win any contracts.In contrast, in the second market, SK On rebounded by forming strategic partnerships with SK Group's energy affiliates, securing 50.3% of the total 565 megawatts. Samsung SDI and LG Energy Solution obtained 35.7% and 14%, respectively.The bidding price dropped from the 30 won per kilowatt-hour range in the first market to the 20 won range in the second, making profitability a major challenge for the three battery companies. As a result, the third round is likely to shift focus from NCM batteries to LFP batteries, which offer better cost competitiveness.Additionally, the government has indicated that it will evaluate domestic supply chain establishment as a crucial factor, favoring companies with local production bases and partnerships. In response, the three battery manufacturers are expanding their domestic LFP production lines. LG Energy Solution is building a facility in Ochang, North Chungcheong Province, capable of mass-producing 1 gigawatt-hour of LFP batteries for ESS, set to begin operations next year. SK On plans to convert part of its electric vehicle battery production line at its Seosan plant in North Chungcheong Province to produce LFP batteries for ESS, aiming for a production capacity of 3 gigawatt-hours.Strategic partnerships for establishing a domestic supply chain are also becoming more active. For instance, SK On has signed a supply contract with L&F for LFP cathode materials worth 160 billion won from 2026 to 2028. Industry analysts suggest that this collaboration is aimed at securing contracts in the central contract market. Depending on the business outcomes, there may be discussions to extend the contract for up to three years after 2028. LG Energy Solution and Samsung SDI are also reportedly making significant efforts to secure domestic LFP cathode materials from companies like LG Chem and POSCO Future M.* This article has been translated by AI. 2026-09-19 06:04:00
  • President Lee Appoints Kim Seong-soo as Supreme Court Justice
    President Lee Appoints Kim Seong-soo as Supreme Court Justice President Lee Appoints Kim Seong-soo as Supreme Court JusticePresident Lee Jae-myung has officially appointed Kim Seong-soo, 57, as a Supreme Court Justice on September 18. This marks the first appointment of a Supreme Court Justice under the Lee administration.The National Assembly's Special Committee on Personnel Hearings held a confirmation hearing for Kim on September 14. On September 16, a report on the hearing, which included both the ruling Democratic Party's approval and the opposition People Power Party's disapproval, was adopted through bipartisan agreement.The President appoints Supreme Court Justices with the consent of the National Assembly, following a recommendation from the Chief Justice. Kim has completed all necessary procedures, including the confirmation hearing and the President's approval, and will begin his six-year term.Xi Jinping Returns Early from BRICS Summit Amid Health SpeculationSpeculation about Xi Jinping's health has arisen after the Chinese President returned to China earlier than expected from the BRICS summit in New Delhi and has not appeared in public since. Attention is now focused on his upcoming visit to the U.S. and the potential for a U.S.-China summit next week.According to reports from the UK’s Independent and Newsweek on September 17, Xi attended the 18th BRICS summit on September 12-13 and returned to China on the 13th, ahead of other leaders. He did not attend the gala dinner at the summit and has not made any public appearances since his return.This was Xi's first visit to India in seven years. Although the schedule was originally set for September 12-13, his actual stay lasted only about 24 hours, leading to speculation on social media regarding the reasons for his early departure.The health rumors were fueled by a video released during the summit, in which Indian Prime Minister Narendra Modi paused during his opening remarks to ask Xi, "Are you okay?" Staff members were also seen approaching Xi at that moment.However, Chinese reporters later released a longer video explaining that Modi's comment was related to an issue with the earphones used for real-time translation, not a health check.President Lee Meets UAE Official, Thanks for Oil SupplyOn September 18, President Lee Jae-myung met with Khaldoon Khalifa Al Mubarak, the Chief Executive Officer of the Abu Dhabi Executive Affairs Authority, at the Blue House to discuss ways to enhance practical cooperation between the two countries.According to Yonhap News, Chief Spokesperson Kang Yoo-jung stated in a written briefing that President Lee welcomed Al Mubarak, who returned to Korea for the second time in about eight months since his visit in January.During the meeting, President Lee recalled the commitment made during UAE President Mohammed bin Zayed Al Nahyan's state visit to South Korea last November to establish a "century-long partnership." He expressed gratitude for the UAE's prioritization of oil supply to South Korea amid the unstable situation in the Middle East.Earlier, Kang Hoon-sik, the President's Chief of Staff, announced in March that a total of 24 million barrels of oil would be urgently imported from the UAE as part of a strategic economic cooperation initiative.Warren Buffett Resigns as Berkshire Hathaway Chairman After 56 YearsWarren Buffett, the legendary American investor known as the "Oracle of Omaha," has stepped down as Chairman of Berkshire Hathaway after 56 years. This follows his earlier decision to pass the CEO role to Greg Abel at the beginning of the year, effectively completing the company's leadership transition.On September 17, Berkshire Hathaway announced in a statement that Buffett has immediately resigned from the chairman position and has been appointed as honorary chairman. The company stated, "Buffett will remain a member of the board and continue to provide his valuable insights and perspectives."Buffett's son, Howard Buffett, has been appointed as the new chairman. Howard has served on the board since 1993 and will now lead the board in his father's stead.Buffett's resignation from the chairman role comes about eight months after he transferred the CEO position to Abel on January 1. This marks the first time since he became chairman in 1970 that he has stepped back from day-to-day management.Korea and Japan to Face Off in Men's Basketball Final at Asian GamesThe men's basketball final at the Asian Games will see Korea and Japan face each other for the first time in history.Under the guidance of Latvian coach Nikolajs Mazulis, Korea, ranked 57th by FIBA, defeated Iran, ranked 28th, 77-51 in the semifinals held on September 18 at the Aichi International Arena in Nagoya, Japan.Korea will compete against Japan for the gold medal on September 20 at 7:40 PM. This is the first time a Korea-Japan matchup has occurred in the men's basketball final at the Asian Games. Korea has previously won the championship four times (1970, 1982, 2002, 2014) but has never faced Japan in the final.In their historical matchups, Korea leads with 48 wins to Japan's 22 losses, according to the Korea Basketball Association.* This article has been translated by AI. 2026-09-18 21:56:00
  • Korea and Japan to Face Off in Historic Basketball Final at Asian Games
    Korea and Japan to Face Off in Historic Basketball Final at Asian Games Korea and Japan will meet for the first time in the history of the Asian Games men's basketball final.Under the guidance of head coach Nikolajs Mazulis from Latvia, Korea (ranked 57th by FIBA) defeated Iran (28th) 77-51 in the semifinals held on September 18 at the Aichi International Arena in Nagoya, Japan.Lee Hyun-jung shone with a double-double, scoring 26 points and grabbing 14 rebounds, including seven three-pointers. Lee Woo-seok (Sangmu Basketball Team) contributed 19 points with three three-pointers to help secure the victory.This marks Korea's return to the Asian Games final for the first time in 12 years since winning gold at the 2014 Incheon Games, overcoming the disappointment of finishing seventh at the 2022 Hangzhou Games, their lowest ever.With this victory, the Korean team has secured its first medal of the tournament.In the second semifinal held at the same venue, host nation Japan defeated China 97-78.As a result, Korea will face Japan for the gold medal on September 20 at 7:40 PM.This is the first time a Korea-Japan matchup has occurred in the men's basketball final at the Asian Games. Korea has previously won the championship four times (1970, 1982, 2002, 2014) but has never faced Japan in the final.Japan has reached the final for the first time in 64 years since the 1962 Jakarta Games, having lost to the Philippines in both the 1951 New Delhi and 1962 finals.In their historical matchups, Korea leads with 48 wins to 22 losses, according to the Korea Basketball Association.However, recent results have been mixed. Korea suffered heavy defeats in two exhibition games last month in Tokyo, losing by 20 and 29 points. Conversely, in their group stage match on September 13, Korea won 100-83, with Lee Jung-hyun (Goyang Sono) scoring a team-high 25 points and Lee Hyun-jung adding 16 points, seven assists, and four steals.It is important to note that the team compositions differed between the exhibition games and the group stage. Japan was without Rui Hachimura of the NBA's Los Angeles Clippers and Yuki Kawamura, who participated in the exhibition games. Meanwhile, Korea welcomed Lee Hyun-jung and Choi Jun-yong (Busan KCC), who did not play in the exhibition matches, and they have been performing well in the tournament.* This article has been translated by AI. 2026-09-18 21:48:00
  • Warren Buffett Steps Down as Berkshire Hathaway Chairman After 56 Years
    Warren Buffett Steps Down as Berkshire Hathaway Chairman After 56 Years Warren Buffett, the legendary investor known as the "Oracle of Omaha," has stepped down as chairman of Berkshire Hathaway after 56 years. This move follows his decision earlier this year to pass the CEO role to Greg Abel, marking the effective completion of the company's management succession.On September 17, Berkshire Hathaway announced in a statement that Buffett has immediately resigned from the chairman position and has been appointed as honorary chairman. The company stated, "Buffett will remain a member of the board and continue to provide his valuable judgment and perspective." Buffett's son, Howard Buffett, has been appointed as the new chairman. Howard has served on the board since 1993 and will now lead the board in his father's stead.This resignation comes just over eight months after Buffett transferred the CEO role to Abel on January 1. It marks the first time since he became chairman in 1970 that Buffett has stepped back from day-to-day management.CEO Abel commented in a statement, "Warren's culture and the values he has upheld will continue to be at the heart of Berkshire. Howard will uphold these principles." Buffett transformed Berkshire Hathaway from a struggling textile company into a global investment powerhouse with a market capitalization of $1.03 trillion. His "value investing" philosophy, which emphasizes the intrinsic value and long-term growth potential of companies, has significantly influenced investors worldwide.As of July, Buffett's net worth was estimated to exceed $140 billion. Since 2006, he has donated approximately $66 billion worth of stock.* This article has been translated by AI. 2026-09-18 21:24:00
  • North Korean Anthem Played Instead of South Korean National Anthem at Asian Games
    North Korean Anthem Played Instead of South Korean National Anthem at Asian Games During a match at the 2026 Aichi-Nagoya Asian Games, the South Korean men's hockey team experienced an unexpected incident when the North Korean national anthem was played instead of the South Korean anthem. The Korea Sports Council has demanded an official apology from the tournament's organizing committee.On September 18, the Korea Sports Council stated, "An error occurred during the group stage match between South Korea and Bangladesh at the Green Stadium in Gifu Prefecture, Japan, where the North Korean anthem was played instead of the South Korean anthem." The council added, "After recognizing the incident, we immediately discussed response measures and sent a protest letter to the organizing committee under the name of team leader Lee Sang-hyun."The issue arose before the match when both national anthems were to be played. Despite the announcer's introduction of the South Korean anthem, the North Korean anthem was broadcast over the stadium speakers.In a moment of confusion, South Korean players, who had placed their hands over their hearts in front of the national flag, appeared startled and lowered their hands. After the North Korean anthem was stopped, the Bangladeshi anthem was played. The South Korean players waited for their anthem, but it did not play. It was only when both teams were about to high-five before the match that the South Korean anthem finally played.Following the incident, the Korea Sports Council took immediate action, requesting an explanation of the circumstances from the organizing committee through the protest letter. They also demanded an official apology and measures to prevent a recurrence.This is not the first time South Korea has been mistaken for North Korea at an international event. During the opening ceremony of the 2024 Paris Olympics, the announcer mistakenly introduced the South Korean delegation as North Korean, prompting an official apology from the International Olympic Committee (IOC).Despite the chaotic atmosphere, the South Korean team, led by coach Min Tae-seok, remained unfazed and secured a decisive 5-0 victory over Bangladesh.Having won a bronze medal at the 2022 Hangzhou Asian Games, South Korea aims to medal for the second consecutive time. They will face Indonesia in their second match at the same venue on September 22 at 11 a.m.* This article has been translated by AI. 2026-09-18 21:04:00
  • Xi Jinpings Early Return from BRICS Fuels Health Speculation Ahead of US-China Summit
    Xi Jinping's Early Return from BRICS Fuels Health Speculation Ahead of US-China Summit Speculation about Xi Jinping's health is growing after the Chinese president returned to China earlier than expected from the BRICS summit in New Delhi and has not appeared in public since. Attention is now focused on the upcoming US-China summit scheduled for next week.According to reports from the UK’s Independent and Newsweek on the 17th, Xi returned to China on the 13th after attending the 18th BRICS summit on the 12th and 13th, leaving before the other leaders and skipping the gala dinner. Since his return, he has not made any public appearances.This was Xi's first visit to India in seven years, and while the schedule was originally set for the 12th and 13th, he spent only about 24 hours in the country, leading to speculation on social media about the reasons for his early departure.Health rumors were ignited by a video released during the summit, in which Indian Prime Minister Narendra Modi paused his speech to ask Xi, "Are you okay?" Footage also showed aides approaching Xi. However, Chinese reporters later released a longer video clarifying that Modi's inquiry was related to an issue with the earphones used for real-time translation, not Xi's health.The Chinese Foreign Ministry confirmed that Xi successfully completed his schedule at the summit and left New Delhi on the afternoon of the 13th, without issuing any statements regarding his health.Claims from Anti-China FiguresThe spread of health rumors intensified following unverified claims from anti-regime figures abroad. Xie Wanjun, chairman of the Chinese Democratic Party residing in the US, alleged on social media that Xi collapsed during the summit and was urgently transported back to China, where he was immediately taken to Beijing's 301 Hospital. This post garnered 2.3 million views and led to speculation that Xi had suffered a stroke. Gordon Chang, a well-known anti-China figure in the US, also stated, "Xi Jinping's health is not good, and this time China cannot hide his condition."However, these claims emerged only after the South African presidency announced that Cyril Ramaphosa, who attended the BRICS summit, was feeling unwell upon his return. There has been no official confirmation regarding Xi's health. The Indian government has also denied any claims that world leaders fell ill during the BRICS summit, urging caution against malicious posts circulating on social media.The UK’s Daily Mail reported that the 73-year-old Xi was seen walking up the stairs to board a flight to China without assistance. The report noted that this is not the first time Xi has faced health rumors, which typically prove unfounded in a short time, yet speculation about his health continues to circulate online.Despite the health rumors, attention remains on the scheduled meeting between President Donald Trump and Xi Jinping in the US on the 24th. So far, the Chinese government has not announced any changes to this schedule. However, if there are sudden changes or cancellations, it is expected that health rumors will intensify.Victor Shih, a political expert at the University of California, San Diego, stated in an interview with the Telegraph that it is unusual for Xi to not appear publicly with important events approaching. However, he added that if no further information regarding Xi's schedule is released by next week, "I will have to question (Xi's health)." 2026-09-18 21:04:00
  • Strengthening Campus Safety: School Safety Insurance Association Supports Universities from Prevention to Compensation
    Strengthening Campus Safety: School Safety Insurance Association Supports Universities from Prevention to Compensation “University safety management should not be limited to compensation after an accident; it must be a comprehensive safety network that includes prevention and rapid response on-site,” said Jeong Hoon, chairman of the School Safety Insurance Association, during the '2026 Second Half University Safety Accident Compensation Workshop' held on September 18 at the Kensington Hotel in Yeouido, Seoul. He emphasized the association's commitment to supporting universities in enhancing their self-sustaining safety management capabilities.The workshop was organized in response to the increasing risks on campuses, including large crowds at festivals, hazards in laboratories, and new drug-related incidents. It aimed to find practical solutions by collaborating with safety practitioners from various universities.Attendees included safety personnel from over 100 universities that had not participated in the previous workshop, focusing on analyzing accident types on campuses and strengthening on-site response strategies. The association is regularizing workshops by region and time to ensure that no university is left without access to practical networks.The program featured pressing safety issues and practical case studies relevant to universities. In the first session, Professor Yoo Seong-ho from Seoul National University’s Department of Forensic Medicine delivered a lecture on 'Causes of Drug-Related Accidents and Forensic Judgments.' He highlighted the impact of harmful drugs on the human body and brain, raising awareness of emerging drug threats on university campuses and the need for management.In the second session, the Student Welfare Department of Jeju National University presented its 'University Festival Safety Manual Operation Case.' They shared insights on potential safety accident types during large campus festivals, step-by-step response systems, and practical manual application techniques, receiving positive feedback from participants.Additionally, the association's staff analyzed key legal precedents related to liability for university safety accidents and clarified legal and institutional issues that arise during campus accident management. A feedback session followed, gathering practical concerns and suggestions for improving the compensation claim process from university representatives.The School Safety Insurance Association has expanded the school safety system, which previously focused on elementary and secondary education, to higher education institutions. In September 2021, it led the amendment of the 'Law on Prevention and Compensation for School Safety Accidents,' establishing a legal foundation for university safety. The 'University Safety Accident Compensation' program officially began in October 2022 with the approval of the Minister of Education.Since its launch, the association has gained trust in the field by offering a broader compensation range, prompt payment of compensation, and tailored safety consulting for universities. As of September 2026, 375 universities have joined, solidifying its position as the leader in school safety and insurance in South Korea.Recently, the association has expanded its role beyond a simple compensation agency to a professional public institution leading overall safety in higher education through regular workshops, regional practical meetings, and distribution of accident case studies.Chairman Jeong Hoon stated, “We will promptly reflect the voices from the university field into the system and provide unwavering support to ensure that safety management tasks are carried out more smoothly. We aim to build a comprehensive campus safety network that covers the entire cycle from preventive education to post-accident compensation.”* This article has been translated by AI. 2026-09-18 20:36:00
  • Fire Breaks Out at Logistics Center Near Incheon Arapath Road
    Fire Breaks Out at Logistics Center Near Incheon Arapath Road A fire broke out at a logistics center near the Incheon Gyeongin Arapath Road, prompting a response from the fire department.According to Yonhap News, the fire was reported at 2:44 p.m. on September 18 at a logistics center in Gyeongseo-dong, Seohae-gu, Incheon.The Incheon Fire Department reported that there have been no casualties so far. Following the outbreak of the fire, 34 individuals, including building personnel, evacuated under the guidance of the fire department.The fire started from a large number of cardboard boxes stacked outside the warehouse and spread to the interior of the building. The affected structure is a two-story building made of sandwich panels, with a total floor area of 7,975.9 square meters. The first floor contained furniture, while the second floor housed a significant amount of hair dye and other cosmetic products. The fire department has indicated that there are no hazardous materials among the stored items.Upon receiving the report, the fire department issued a Level 1 response at 3:21 p.m., deploying personnel and equipment from the local fire station within 37 minutes of the fire's outbreak. Considering the potential for rapid fire spread due to the combustible materials inside the logistics center, the response was escalated to Level 2 at 6:25 p.m., mobilizing personnel and equipment from five to six nearby fire stations.At the time of the Level 2 response, 167 personnel and 69 pieces of equipment, including pump trucks, were deployed to the scene.As concerns about the fire's expansion were alleviated, the fire department downgraded the response back to Level 1 at 7:25 p.m. However, initial extinguishing efforts had not yet been completed.The fire department is continuing its firefighting efforts by using excavators to dismantle structural elements of the building and spraying water inside.The local government of Seohae-gu issued a safety alert, advising nearby residents to evacuate and urging vehicles to detour due to the significant smoke emanating from the logistics center.* This article has been translated by AI. 2026-09-18 20:36:00
  • Kim Hye-kyung Calls for Enhanced Protection for Domestic Violence Victims
    Kim Hye-kyung Calls for Enhanced Protection for Domestic Violence Victims Kim Hye-kyung visited a domestic violence shelter on September 18 to comfort victims and encourage staff ahead of the Chuseok holiday. Ahn Gwi-ryeong, deputy spokesperson for the Blue House, stated in a written briefing that Kim listened to staff about the realities of domestic violence and the current operations of the facility while observing the victim protection and support efforts. Kim met with residents of the shelter to hear about their current situations and preparations for independence. She encouraged one resident, who is preparing for an art therapy certification, saying, "It’s great to see you looking bright. I hope only good things come your way in the future." She also took commemorative photos with the residents and their children, extending her Chuseok greetings. Kim expressed her support for victims who have bravely sought help to escape violence and start new lives, stating, "I offer my comfort and encouragement to those who have found the courage to ask for help. I also thank the staff for ensuring safety and aiding in recovery." In light of a recent incident in Gyeonggi Gwangju, where a woman who had fled domestic violence was murdered by her husband after he discovered her address through divorce papers, Kim extended her condolences to the victim and the bereaved family. She emphasized the need to strengthen the separation of perpetrators and the protection of victims, stating, "We must ensure that no more victims lose their lives. It is essential to provide careful attention and support so that victims can recover their daily lives and achieve independence in a safe living environment."* This article has been translated by AI. 2026-09-18 20:16:00
  • President Yoon Meets UAEs Al Mubarak, Thanks for Oil Supply Amid Middle East Tensions
    President Yoon Meets UAE's Al Mubarak, Thanks for Oil Supply Amid Middle East Tensions President Lee Jae-myung met with Khaldoon Khalifa Al Mubarak, the Administrative Director of the United Arab Emirates (UAE), on September 18 at the Blue House to discuss ways to expand practical cooperation between the two countries.According to Yonhap News, Chief Spokesperson Kang Yoo-jung stated in a written briefing that President Lee welcomed Al Mubarak, who returned to South Korea after about eight months since his last visit in January.During the meeting, President Lee recalled the commitment made during UAE President Mohammed bin Zayed Al Nahyan's state visit to South Korea last November to establish a 'century-long partnership.' He expressed gratitude for the UAE's prioritization of oil supply to South Korea amid the unstable situation in the Middle East.Earlier, Kang Hoon-sik, the President's Chief of Staff, announced in March that a special envoy for strategic economic cooperation had visited the UAE and agreed to urgently import 24 million barrels of oil.President Lee evaluated that practical cooperation in various fields, including defense, advanced technology, nuclear power, and culture, has steadily progressed based on close communication between Kang and Al Mubarak. He also requested that Al Mubarak convey his best regards to President Mohammed.In response, Al Mubarak conveyed President Mohammed's regards, stating, "The people of the UAE recognize South Korea as a grateful brotherly nation that stood by us in difficult times."He added, "The cooperation between our two countries, which has developed around energy and infrastructure, is expanding into diverse and future-oriented areas such as investment, space, health, and education."In light of this, President Lee emphasized the importance of continuing communication and cooperation based on trust between the two leaders, urging the creation of tangible results that the citizens of both countries can feel.* This article has been translated by AI. 2026-09-18 20:08:10