AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • SK Intellix Partners with KAIST to Enhance AI Mental Health Services
    SK Intellix Partners with KAIST to Enhance AI Mental Health Services SK Intellix is collaborating with the Korea Advanced Institute of Science and Technology (KAIST) to advance wellness robotics-based AI mental health and wellness service software. On July 20, SK Intellix announced that it signed a memorandum of understanding (MOU) with KAIST in Daejeon to jointly research and develop next-generation mental health and wellness services and commercialize research outcomes. The signing ceremony was attended by Kim Hyung-jin, head of the Namux business division at SK Intellix, and Lee Eui-jin, head of the AI Computing Department at KAIST, along with other key officials from both institutions. Through this agreement, SK Intellix plans to collaborate in various areas, including joint research and development of wellness robotics-based AI mental health service software, establishing research and demonstration environments, collecting and utilizing datasets for AI algorithm development, validating personalized solutions, jointly conducting national R&D projects, and operating industry-academia cooperation programs such as hackathons and internships. Notably, SK Intellix will provide a developer API for the wellness robot 'Namux' as a research platform. This will support researchers in validating and enhancing AI algorithms in real service environments, thereby accelerating the commercialization of research outcomes and strengthening technological competitiveness. Furthermore, SK Intellix aims to build a research ecosystem that fosters collaboration between academia and industry by jointly conducting government demonstration projects and national R&D initiatives based on AI-driven mental health and wellness technologies. Kim Hyung-jin, head of the Namux business division at SK Intellix, emphasized, "Through our joint research with KAIST, we will enhance the competitiveness of wellness services and expand our offerings into healthcare areas such as mental health."* This article has been translated by AI. 2026-07-21 09:04:00
  • Park Ji-sung Responds to Controversial Comments by Seo Gang-il
    Park Ji-sung Responds to Controversial Comments by Seo Gang-il As the controversy surrounding the election of the next president of the Korea Football Association and the appointment of the national team coach continues, Park Ji-sung, head of the innovation committee, has publicly addressed comments made by Seo Gang-il, president of the Jeonbuk Special Self-Governing Province Football Association.On July 20, various online communities circulated a video of Park Ji-sung during the third meeting of the K-Football Innovation Committee, which was launched the same day to reform Korean football. In the video, a reporter asks Park about Seo's recent remarks expressing opposition to him.Park responded, "I believe that his opinion came from his own thoughts," but added, "The fact that many people reacted negatively shows that his actions were ultimately inappropriate for his position." He further stated, "I think the football community can recover depending on how people in such positions behave and what they say in the future."Viewers of the video commented on Park's demeanor, noting, "You can see he was upset, but he remained calm," and "It's hard to say he doesn't understand administration; he has gained experience on a much larger stage." Others remarked, "He spoke indirectly but delivered a critical blow," and "He summed it up by saying to act according to one's position." Many noted that Park's statements have become more assertive since the recent World Cup.Earlier, on July 16, Seo Gang-il criticized Park Ji-sung and Lee Young-pyo in an interview with KBS, saying, "What do Park Ji-sung and Lee Young-pyo know to be part of the innovation committee? How can they speak so carelessly?" He added, "While they were national team players, how much life experience, legal knowledge, and social experience do they have to lead the innovation committee? Instead of just criticizing, they should run for president themselves."Seo also criticized the current method of electing the president of the Korea Football Association, stating, "According to the current regulations, a by-election must be held within 60 days," and argued against direct elections, saying, "If there is no president, the administration of the football association will be paralyzed."Regarding Chung Mong-kyu, the former president of the Korea Football Association, Seo remarked, "It was not a 13-year reign but a 13-year sacrifice," and commented on the controversy surrounding the pardon of those involved in match-fixing, saying, "It was just a matter of timing; forgiveness and understanding were necessary."Following the interview, Seo's background was also scrutinized online. According to available information, Seo worked at Hyundai Motor from 1987 to 2007 and is currently the CEO of Sejin Industrial, an auto parts company. He has also served as vice president of the Jeonju Football Association and vice president of the Wanju County Sports Council.Additionally, Sejin Industrial, where Seo is CEO, has a Job Planet corporate rating of 1.8 out of 5, with reviews describing it as a "company without processes," noting issues like "daily overtime" and "no weekend pay," which have also circulated online.* This article has been translated by AI. 2026-07-21 08:56:00
  • Yuanta Securities Raises Orions Target Price by 11% Amid Growth in China and Russia
    Yuanta Securities Raises Orion's Target Price by 11% Amid Growth in China and Russia Yuanta Securities announced on July 21 that it has raised its target price for Orion from 155,000 won to 172,000 won, an increase of approximately 11.0%, citing stable growth in its China and Russia operations, expected profitability improvements in the second half of the year, and enhanced shareholder returns. The firm has resumed coverage with a 'buy' recommendation.Analyst Son Hyun-jung stated, "The current stock price is trading at a discount compared to global confectionery companies, with a projected price-to-earnings ratio (PER) of 9 times for 2027. Considering the stable growth in China and Russia, the anticipated profitability improvements, and the strengthening of shareholder returns, we present this target price."Yuanta Securities estimates that Orion's consolidated revenue for the second quarter will reach 896.1 billion won, with an operating profit of 134.6 billion won, marking increases of 15.3% and 10.8%, respectively, compared to the same period last year. This aligns with market consensus. Strong sales in China and Russia, along with favorable exchange rates, are expected to drive revenue growth, although profitability improvements may be limited due to channel expansion costs in China and cost and promotional burdens in Vietnam.Regionally, China and Russia are projected to lead performance. In China, sales are expected to grow, particularly in snack shops and e-commerce, with revenue forecasted at 378 billion won and operating profit at 63.2 billion won. In Russia, buoyed by strong sales of pies and jellies, revenue is estimated at 105 billion won, with operating profit expected to rise by 29.9% and 75.0%, respectively, compared to the previous year. The new factory in Tver is anticipated to increase production capacity to 750 billion won annually upon completion in 2027.This year, consolidated revenue is projected to reach 3.7821 trillion won, with an operating profit of 638.1 billion won. In the second half of the year, the effects of declining prices for key raw materials are expected to expand, and the fixed cost leverage from increased sales in China and Russia is anticipated to drive profit growth.Regarding its dividend policy, the firm received a positive assessment. Analyst Son noted, "Orion announced its first interim dividend of 1,750 won per share on July 6, marking a significant milestone. Given its commitment to maintaining a high dividend policy, visibility for dividend expansion has increased."* This article has been translated by AI. 2026-07-21 08:52:00
  • New Competition Launched to Boost Local Tourism in South Korea
    New Competition Launched to Boost Local Tourism in South Korea The Ministry of Culture, Sports and Tourism and the Ministry of the Interior and Safety are launching a new competition aimed at discovering innovative policies to revitalize local tourism. This initiative seeks to enhance regional tourism competitiveness by supporting ideas from the policy stage, moving beyond traditional performance-based awards.From July 21 to October 20, the two ministries will hold the 'Star of Korean Tourism (Regional Tourism Innovation Idea Competition)' for local governments across the country.This competition is the first joint project initiated by the 'Regional Tourism Policy Council,' which was established on July 16. It focuses on identifying policies that can address challenges such as regional decline and domestic economic stagnation through tourism.The competition will cover four categories: innovation in tourism products, promotion of tourism consumption, restoration of trust in tourism, and tourism income generation. After a review process, 13 local governments with outstanding proposals will be selected to receive financial incentives, with the amount to be determined later.If the selected policies lead to successful local projects, they will also have the opportunity to advance to the finals of the 'Star of Korean Tourism' next year.This competition distinguishes itself from the existing 'Star of Korean Tourism' program. While the 'Star of Korean Tourism' evaluates and awards achievements of excellent tourist sites, organizations, and individuals, the 'Star of Korean Tourism' focuses on supporting local governments from the policy conception stage through to implementation and results.Additionally, the 'Star of Korean Tourism' will revise its award system starting this year. The top award, 'Tourist Destination of the Year,' will be elevated from the Minister of Culture, Sports and Tourism Award to the Prime Minister's Award.Nominations will be accepted from July 21 to August 7. Awards will be presented across three categories: tourist sites and content, tourism policy and services, and tourism marketing.Gang Jeong-won, head of the Tourism Policy Bureau at the Ministry of Culture, Sports and Tourism, stated, "We will actively support creative local tourism policies to ensure they lead to tangible results. We hope the diverse ideas from the newly launched local governments will become a new growth engine for regional tourism."Song Kyung-joo, head of the Local Finance and Economy Bureau at the Ministry of the Interior and Safety, remarked, "Tourism is a key sector directly linked to the local economy. We hope innovative policies utilizing unique local resources will invigorate the regions."* This article has been translated by AI. 2026-07-21 08:48:00
  • Heavy Rain Expected Across the Country; What Are the Forecasted Amounts?
    Heavy Rain Expected Across the Country; What Are the Forecasted Amounts? On Tuesday, July 21, heavy rain is expected across the country. However, the southern regions and Jeju Island will continue to experience sweltering heat.In particular, the metropolitan area, Gangwon Province, and the Chungcheong region are forecasted to receive heavy rain of 20 to 80 mm per hour from early morning to the morning hours.According to Yonhap News, the expected precipitation for July 20 and 21 is as follows: in Seoul, Incheon, Gyeonggi, and the five western islands, 30 to 100 mm (with some areas in northern Incheon and Gyeonggi exceeding 150 mm); in inland and mountainous areas of Gangwon, 30 to 100 mm (with some areas in northern Gangwon exceeding 150 mm); and on the eastern coast of Gangwon, 10 to 60 mm.In Daejeon, Sejong, and Chungnam and Chungbuk, 30 to 80 mm is expected (with some areas on the northern west coast of Chungnam exceeding 100 mm); in Gwangju and Jeonnam, 5 to 40 mm; in Jeonbuk, 10 to 60 mm; in Daegu and Gyeongbuk, 10 to 60 mm; in western inland Gyeongnam, 5 to 40 mm; and Jeju is expected to receive 5 mm of rain.In the central region, where rain is concentrated, there is a possibility of issuing heavy rain warnings due to strong winds and thunderstorms accompanying the heavy rainfall.The oppressive heat will also persist.In areas under heatwave warnings, the maximum perceived temperature is expected to be around 33 degrees Celsius, while Jeonnam, Gyeongsang regions, and Jeju Island are forecasted to reach around 35 degrees Celsius.The expected morning low temperatures by region are as follows: Seoul 24 degrees, Incheon 24 degrees, Suwon 25 degrees, Chuncheon 23 degrees, Gangneung 24 degrees, Cheongju 26 degrees, Daejeon 24 degrees, Sejong 24 degrees, Jeonju 26 degrees, Gwangju 26 degrees, Daegu 25 degrees, Busan 26 degrees, Ulsan 26 degrees, Changwon 26 degrees, and Jeju 27 degrees.The expected daytime high temperatures are: Seoul 28 degrees, Incheon 27 degrees, Suwon 29 degrees, Chuncheon 27 degrees, Gangneung 31 degrees, Cheongju 31 degrees, Daejeon 31 degrees, Sejong 30 degrees, Jeonju 32 degrees, Gwangju 32 degrees, Daegu 34 degrees, Busan 32 degrees, Ulsan 34 degrees, Changwon 32 degrees, and Jeju 34 degrees.* This article has been translated by AI. 2026-07-21 08:40:00
  • Hyundai Motor Group Chairman Visits Ashanti Kingdom in Ghana
    Hyundai Motor Group Chairman Visits Ashanti Kingdom in Ghana Hyundai Motor Group Chairman Euisun Chung visited the Ashanti Kingdom in Ghana and met with the king.On July 15, Chung, accompanied by Vice Chairman Jae-hoon Chung, met with King Otumfuo Osei Tutu II at the Manhyia Palace in Kumasi, the capital of the Ashanti Region, according to a social media post from the Ashanti Kingdom on July 21.During the meeting, Chung presented a model of the Pony, Korea's first indigenous automobile, along with a biography of Hyundai Group founder Chung Ju-yung. In return, the king graciously offered a traditional Ashanti textile known as kente cloth.This meeting is seen as a step towards expanding Hyundai Motor Group's economic and cultural cooperation in West Africa.Hyundai Motor Group assembles Hyundai and Kia vehicles in Tema and Ama Samman, near the capital Accra, through its local official distributor.The Hyundai Tema CKD (completely knocked down) plant began operations last year, while the Kia Ama Samman CKD plant was completed in 2023.Meanwhile, Hyundai is establishing CKD plants in major global markets. Last month, it set up facilities in Thailand and operates CKD plants in over 15 countries. A new plant is set to be completed by the end of the year in Saudi Arabia, the largest market in the Middle East.* This article has been translated by AI. 2026-07-21 08:40:00
  • Presidents Use of Seller Financing in Real Estate Deal Sparks Controversy
    President's Use of Seller Financing in Real Estate Deal Sparks Controversy President Lee Jae-myung is facing scrutiny after it was revealed that he utilized a method known as "seller financing"—where the seller provides a mortgage to the buyer—during the sale of his apartment in Bundang. Critics online have accused him of circumventing government loan regulations, and some homeowners have begun posting similar sales offers.On July 20, a post appeared in a real estate community titled, "Selling a 24-pyeong apartment in Gangnam's Jagok I-Park for 2 billion won." The author, identified as A, stated, "The basic loan of 400 million won will be at market bank rates, and I can provide an additional loan of up to 1 billion won based on annual income," suggesting it was a good opportunity for high-income professionals and dual-income couples facing difficulties with bank loans.This post gained traction, drawing attention to President Lee's own real estate transaction. According to the Supreme Court's registry, the apartment in Yangji Village, Su-nae-dong, Seongnam, co-owned by President Lee and First Lady Kim Hye-kyung, was sold for 2.9 billion won on July 14, with ownership transferred on July 16.However, the couple established a mortgage of 1.77 billion won against the buyer, who is expected to pay the remaining balance by the end of October.One internet user remarked, "The government's real estate policy aimed to control housing prices by making loans difficult, yet the president used an alternative method to facilitate the transaction. It raises questions about his sincerity when he claims to sell his property to support housing market stabilization while circumventing the rules he set for others."Other users echoed similar sentiments, stating, "With mortgage loans restricted, homeowners are turning to private financing," and "If the president can do it, others will likely follow suit. The government said it would control housing prices by restricting loans, yet alternative transactions are emerging, and the president himself is engaging in such practices."This has led to questions online about the legality of sellers lending money to buyers in real estate transactions.Seller financing involves the seller providing funds directly to the buyer instead of a financial institution, with the buyer repaying the loan over time. While this method is sometimes used in environments with strict loan regulations, it typically requires a strong trust relationship between the buyer and seller, tax and legal reviews, mortgage establishment, and significant cash liquidity.In the real estate industry, such transactions often involve several hundred million won, and high-value property deals may be subject to tax audits or source of funds investigations, often necessitating the involvement of lawyers or tax advisors. Economic experts view these transactions as effectively private financing.In response to the growing controversy, the presidential office issued a statement regarding the mortgage establishment, explaining, "This was based on the buyer's circumstances. The sale was conducted at a price lower than the market value of 2.9 billion won, and while there is no obligation to sell as a homeowner, the president sold the property to demonstrate his commitment to real estate normalization policies."However, the controversy appears to be gaining traction across the political spectrum, with progressive online communities also posting related articles and critical opinions, suggesting that the issue is unlikely to subside soon.* This article has been translated by AI. 2026-07-21 08:36:00
  • U.S.-Iran Tensions Boost Semiconductor Stocks; KOSPI Set to Rise
    U.S.-Iran Tensions Boost Semiconductor Stocks; KOSPI Set to Rise The domestic stock market is expected to attempt a rebound, led by semiconductor stocks, despite geopolitical uncertainties between the U.S. and Iran. Following a night of low-price buying in U.S. semiconductor stocks and a slight easing of the won-dollar exchange rate burden, there are rising expectations for improved foreign investor sentiment.On July 20, the Dow Jones Industrial Average closed down 307.16 points (0.59%) at 51,839.26. The S&P 500 index, which focuses on large-cap stocks, fell 14.41 points (0.19%) to 7,443.28, while the tech-heavy Nasdaq Composite dropped 12.17 points (0.05%) to finish at 25,508.07.The New York stock market started strong but reversed course amid growing concerns over potential military conflict between the U.S. and Iran. President Donald Trump warned of further retaliation against Iran in connection with U.S. military casualties, increasing geopolitical uncertainty and pressuring investor sentiment.As tensions in the Middle East continue, international oil prices have also risen. September Brent crude futures settled at $89.22 per barrel, up 1.27% from the previous session. August West Texas Intermediate (WTI) crude futures increased by 0.90% to $83.23 per barrel.However, optimism for a diplomatic resolution remains, and low-price buying has emerged in recently adjusted semiconductor and artificial intelligence (AI) stocks, limiting the extent of the index decline. Micron Technology rose by 1.94%, while AMD and Asterra Labs increased by 1.58% and 1.80%, respectively.In the domestic market, the movement of large-cap semiconductor stocks is expected to influence the index's rebound. According to NextTrade, as of 8:06 a.m. on July 21, Samsung Electronics was trading at 246,000 won, down 2,000 won (0.82%) from the previous session. At the same time, SK Hynix recorded a drop of 16,000 won (0.91%) to 1,780,000 won.Market analysts predict continued high volatility in the near term. The KOSPI has triggered sidecars nine times in the past 13 trading days, with six sell-offs and three buy-ins. The KOSDAQ has also seen seven sidecars activated during the same period, and circuit breakers have been triggered twice this month.However, analysts note that the recent sharp decline in stock prices has reduced valuation burdens, and the outlook for earnings remains solid, creating conditions for a rebound. The KOSPI's 12-month forward price-to-earnings ratio (PER) has entered a historically undervalued range below six times. Since the beginning of the month, the KOSPI's 12-month forward operating profit forecast has been revised up by 6.8%, while the KOSPI has fallen by 23.1%, widening the gap between earnings and stock prices.Han Ji-young, a researcher at Kiwoom Securities, stated, "Despite the geopolitical uncertainty between the U.S. and Iran, the rebound in U.S. semiconductor stocks and the easing of the won-dollar exchange rate burden could improve foreign investor sentiment. The domestic market is expected to attempt a rebound as buying pressure emerges from the perception of excessive declines in key sectors, including semiconductors."The researcher emphasized the need to prioritize a strategy of gradually increasing positions in semiconductor stocks, which have seen excessive declines, and noted that the current conditions favor a rebound rather than further declines in the index, based on valuation, earnings, and supply-demand factors.* This article has been translated by AI. 2026-07-21 08:20:00
  • LS Securities Raises Hyundai Department Store Target Price Amid Strong Performance
    LS Securities Raises Hyundai Department Store Target Price Amid Strong Performance LS Securities announced on July 21 that it has raised its target price for Hyundai Department Store from 110,000 won to 200,000 won, citing ongoing improvements in the department store and duty-free shop performance. The firm maintained its 'buy' rating.Orina Oh, a researcher at LS Securities, stated, "For the second quarter, consolidated sales are expected to reach 1.034 trillion won, with operating profit at 83.2 billion won, aligning with market expectations." She noted that sales at existing department stores increased by 15% in April, 20% in May, and 14% in June, indicating strong growth.Oh added, "Considering that June had two fewer weekend operating days compared to the previous year, the actual sales trend was even more robust. Foreign sales also surged, increasing by 40% in April, 66% in May, and 92% in June, now accounting for about 8% of total sales."She further explained, "Foreign consumer spending is expanding not only at The Hyundai Seoul and the Trade Center but also at the Pangyo, main, Songdo, and Gimpo locations. The luxury watch and jewelry sectors continue to see high growth, and home appliances are performing well due to promotional effects."Additionally, she noted, "The duty-free shop at Incheon Airport's DF2 (cosmetics, perfumes, liquor, and tobacco) area is quickly stabilizing, leading to significant profit improvements. DF2 has reportedly reached its break-even point since May, and as the top operator at Incheon Airport, its buying power is enhancing the profit margins and contribution rates for cosmetics purchases at downtown stores."Oh also mentioned, "Zinus is undergoing restructuring, aiming to eliminate inefficient assets by the end of 2027 and secure annual cost savings of about 50 billion won starting in 2028. While the delay in Zinus's recovery is disappointing, the positive performance of its core business offsets this setback."* This article has been translated by AI. 2026-07-21 08:20:00
  • Trump Imposes 50% Tariff on Select Canadian Products
    Trump Imposes 50% Tariff on Select Canadian Products President Donald Trump has announced a 50% additional tariff on certain Canadian products in response to discriminatory measures against U.S. automobiles, alcohol, and dairy products.On July 20, the White House reported that Trump signed three proclamations imposing additional tariffs on Canadian goods based on Section 338 of the Tariff Act of 1930. These measures are a direct response to Canada’s treatment of U.S. products.The targeted items range from wine to hockey sticks and cement. The 50% additional tariff will also apply to products that meet the origin requirements under the United States-Mexico-Canada Agreement (USMCA). However, products already subject to tariffs under the Energy and Potash Fertilizer Act and certain items like fish and critical minerals are excluded. The new tariffs will take effect at 12:01 a.m. Eastern Time on July 19, 2026, 30 days after the proclamations were signed.Trump cited Section 338 of the Tariff Act, which allows for additional tariffs of up to 50% when foreign countries discriminate against U.S. commerce or treat it less favorably than that of other nations. Bloomberg reported that this is the first time the U.S. has utilized this provision to impose tariffs.The U.S. government claims that Canada has applied tariffs and tariff-rate quotas (TRQs) exclusively on U.S. automobiles, disadvantaging products from other countries. According to the White House, U.S. imports of Canadian automobiles fell by $5.6 billion (approximately 8 trillion won) from April 2025 to March 2026 compared to the previous year.The administration also criticized Canada for restricting the sale of U.S. alcohol, which has been largely halted in most regions since March 2025, resulting in an 81% drop in imports from that time until February 2026.In the dairy sector, the U.S. pointed out that Canada applies TRQ standards favoring European Union cheese over U.S. cheese, limiting market access for American producers.The White House explained that the tariffs aim to offset the burdens placed on U.S. businesses and workers due to Canada’s discriminatory practices. By imposing these tariffs, the administration seeks to enhance competitive opportunities for U.S. manufacturers in the domestic market while pressuring Canada to lift restrictions on U.S. automobiles, alcohol, and cheese.This move is expected to escalate trade tensions between the U.S. and Canada. Traditionally considered a close ally, Canada has faced ongoing friction with the Trump administration over tariffs and revisions to the USMCA.Recently, Trump threatened to impose tariffs on Canadian products in response to smoke from Canadian wildfires affecting the eastern United States. According to Axios, a senior U.S. administration official stated that the new tariffs are not part of the previously threatened 'wildfire tariffs,' but that responses related to the wildfires are still under consideration.* This article has been translated by AI. 2026-07-21 08:16:00