AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • Concerns Grow Over Kim Seung-wons Confirmation Hearing Amid Allegations
    Concerns Grow Over Kim Seung-won's Confirmation Hearing Amid Allegations As the confirmation hearing for Kim Seung-won, the nominee for Minister of Justice, approaches, allegations surrounding requests for approval of new drug clinical trials and the hiring of a current judge's son in a legislative office are intensifying. With just 18 days until the Prosecutorial Agency's launch, there are concerns that policy evaluations on key issues, including staffing and the dismissal of charges in the Lee Jae-myung case, may be delayed.According to legal sources, the National Assembly's Legislative Judiciary Committee will hold Kim's confirmation hearing on September 15. The hearing is expected to rely heavily on Kim's responses and submitted materials, as key witnesses related to the allegations have not been summoned.The main point of contention is the allegation that Kim sought expedited approval for a clinical trial plan for Genensel's COVID-19 treatment. In 2021, at the request of broker Yang, Kim contacted then-Director Kim Kang-rip of the Food and Drug Safety Agency to expedite the review of the clinical trial plan. The prosecution investigated Kim for alleged bribery promises but decided not to prosecute in December 2024.Kim's team has countered that they only communicated public interest concerns regarding the COVID-19 treatment development and did not seek any preferential treatment or approval. On his way to work, Kim stated, "I will explain everything clearly to the public during the hearing," deferring specific responses.The police are currently investigating two recent allegations assigned to the Yeongdeungpo Police Station, including interviews with the complainants. The National Police Agency clarified that this is a new investigation based on recent complaints, not a re-investigation of past cases, and plans to review the prosecution's investigation records to understand the previous decision not to prosecute.Former Seoul City Council member Lee Jong-bae has additionally reported Kim, along with Genensel founder Kang and broker Yang, for fraudulent transactions under the Capital Markets Act. The allegation is that Kim contacted the Food and Drug Safety Agency knowing the potential impact of the clinical trial approval on Genensel's corporate value and investment attraction. However, a direct link between Kim's contact and investment or stock transactions has not been established.The circumstances surrounding the hiring of the son of a current judge who denied a warrant for the Genensel founder's arrest as a legislative aide in 2024 are also under scrutiny. Kim's team maintains that while he has maintained a friendship with the judge, there was no collusion or improper solicitation related to the warrant case. The salaries and service provision processes for a social cooperative where Kim's spouse and children work are also contentious, but parents involved in the cooperative have stated that all procedures were followed correctly, countering allegations of favoritism.A pressing issue is that the Prosecutorial Agency is set to launch on October 2. The government's proposed organizational structure aims to reduce the total staff from 10,706 to 8,412, but this has faced pushback from the ruling party, leading to a revision process. Changes under consideration include renaming the 'Judicial Control Division' to 'Non-Prosecution Case Review Division' and eliminating the Criminal Planning and Major Crime Investigation Planning divisions.With the organizational structure not yet finalized, staffing, task assignments, and the overhaul of the IT system and training may be delayed. Concerns have also been raised that the agency could launch without a leader, as the nomination committee has not yet been formed.Kim's past statements advocating for the dismissal of charges in the Lee Jae-myung case are also a point of policy scrutiny. Kim has asserted that the Minister of Justice does not have the authority to direct dismissals and has no intention of doing so, but in written responses to the National Assembly, he stated he would act in accordance with laws and regulations. There are calls for clarity on his stance regarding dismissals, potential conflicts of interest, and operational plans for the Prosecutorial Agency following the abolition of supplementary investigation powers during the upcoming hearing.* This article has been translated by AI. 2026-09-14 16:52:00
  • Regulatory Framework for Personal Data Needs Update in AI Era
    Regulatory Framework for Personal Data Needs Update in AI Era Discussions are intensifying around the need to revise the personal data regulatory framework due to the rise of artificial intelligence (AI). As generative and agentic AI increasingly combine and infer data, facilitating the movement of personal information across various services, experts argue that the current regulations, which focus primarily on prior consent and purpose limitation, are inadequate.There are calls to clarify the grounds for processing personal data beyond 'consent' and to refine the criteria for 'third-party sharing.' Additionally, experts suggest that regulations should be more nuanced based on the type of information, processing methods, and responsible parties.At a forum titled 'Discussing the Future of Personal Data Regulation' held on September 14 at the National Assembly Library in Yeouido, Seoul, participants addressed how to improve the consent-based personal data processing system and how to refine protection and accountability frameworks in line with expanded data utilization.Bong Seong-hyun, a lawyer at Kim & Chang, pointed out the limitations of the consent-based system, stating, "In reality, users rarely check each term or detail of personal data processing to decide whether to consent." He suggested that the criteria for applying other grounds for processing personal data, such as contract fulfillment and legitimate interests, should be clarified, and that the current requirement for legitimate interests to 'clearly' outweigh the rights of data subjects needs revision.The 'AI special provision,' which allows for the use of personal data under certain conditions for AI development, is seen as a potential shift from a consent-centric regulation to one that assesses actual risks.Bae Kwan-pyo, a professor at Chungnam National University, stated, "The nature of regulation will shift from being preventive to being responsive, with responsibilities changing based on risk." However, he cautioned that startups lacking data may find it difficult to benefit from these provisions, warning that only data-rich companies might gain from the system.The issue of third-party sharing of personal data has also emerged as a significant topic. Under current law, sharing personal data held by one business with another requires separate consent from the data subject. However, concerns have been raised that the frequent movement of personal data in agentic AI could make the current consent model restrictive.Lee Hee-jin, a lawyer at Meta, suggested that if separate consent is required at every stage, it could not only inconvenience users but also disadvantage South Korean companies in system implementation. She proposed that third-party sharing be addressed under the same legal grounds as other personal data processing.As data utilization expands, there is a consensus that protection and accountability structures need to be more robust. Park So-young, a legislative researcher at the National Assembly Legislative Research Service, emphasized the need to refine the regulatory framework based on the type of information, processing methods, and responsible parties.Current laws require the purpose, items, and retention period for collecting personal data to be predetermined. However, AI can infer new personal data by combining conversations, documents, and images, allowing multiple businesses to participate in a single service. This raises concerns that the existing framework centered on data processors may not adequately cover processing processes and responsibilities.Park stated, "It is crucial to work on refining the regulatory framework based on the type of information, processing methods, and responsible parties, rather than simply loosening or tightening regulations uniformly."The need for enhanced protective measures was also highlighted. Kim Bo-ra-mi, a lawyer at the law firm Dike, argued that personal data protection should be viewed as a social value that limits the power of the government and corporations. Kim Chang-o, Chief Privacy Officer at KT, called for a protective framework that considers AI risks, suggesting a connection between personal data impact assessments and AI risk evaluations.These discussions are expected to lead to reforms by the Personal Information Commission. Choi Yoon-jung, a policy officer at the commission, stated, "We will prepare and announce innovative and improved measures suitable for the AI era by the end of the year." The commission is also working on an enforcement decree for the AI special provision, aiming for implementation by March next year.Choi Kyung-jin, a professor at Gachon University, emphasized the need to distinguish between areas that can be addressed under existing regulations and those that require reform, stating, "In the AI era, both sophisticated interpretation and careful regulatory design are necessary."* This article has been translated by AI. 2026-09-14 16:48:00
  • Restoration of Shuttle Diplomacy Faces Historical Awareness Challenges in Korea-Japan Relations
    Restoration of Shuttle Diplomacy Faces Historical Awareness Challenges in Korea-Japan Relations The administration of President Lee Jae-myung is attempting to improve relations with Japan by announcing the restoration of shuttle diplomacy, but challenges related to historical awareness remain unresolved.Recently, political circles have revisited Lee's past criticisms of the Yoon Suk-yeol administration's diplomacy toward Japan during his tenure as leader of the Democratic Party, raising concerns about his inconsistent stance.According to reports from Yonhap News and Kyodo News on September 14, a booklet celebrating the 75th anniversary of Japan's UNESCO membership has been published and is being sold nationwide. However, the booklet introduces sites related to the 'Meiji Industrial Revolution Heritage' (registered in 2015) and 'Sado Mine' (registered in 2024), which include forced labor sites involving Koreans, without mentioning any historical issues.The Japanese government had officially promised to explain the forced mobilization of Koreans during the colonial period surrounding the World Heritage registration of the 'Meiji Industrial Revolution Heritage,' which includes Hashima Island, but has failed to fulfill this commitment. In response, the South Korean government has held separate memorial services for victims for three consecutive years following the registration of Sado Mine.In a Liberation Day speech on August 15, President Lee stated, "Over the past year, South Korea and Japan have engaged in active shuttle diplomacy, building trust and a foundation for cooperation in supply chains, energy, and advanced industries, while steadily expanding exchanges between future generations." He emphasized that for these achievements to continue, strong trust between the two nations' citizens is essential, stating, "Trust comes from understanding each other's pain and genuine empathy."He also acknowledged, "There are still victims and bereaved families living with the scars and pain of the past," and highlighted that while there have been conflicts in the history of Korea-Japan relations, there have also been efforts to face the past with courage and sincerity, as seen in the 1998 Kim Dae-jung-Obuchi Joint Declaration.This statement is interpreted as a message to Japan to confront historical issues. Japanese Prime Minister Sanae Takaichi has been seen making offerings at the Yasukuni Shrine, and recently, local media captured her performing a 'remote worship' from a parking lot 500 meters away, sparking controversy.Despite these historical issues, President Lee maintains that cooperation with Japan is necessary. The government has committed to a pragmatic diplomatic approach, emphasizing the need for continued economic and security collaboration.In recent political discussions, some have criticized President Lee's past statements, accusing him of exhibiting a double standard in his approach to Japan. On October 10, Kim Seok-ki, a member of the People Power Party, questioned Prime Minister Han Seung-soo during a National Assembly session, stating, "The worst Korea-Japan relations occurred during the previous Moon Jae-in administration. The Yoon Suk-yeol administration has significantly improved relations and established shuttle diplomacy, which the Lee Jae-myung administration is now following." He further challenged, "Why did you label the Yoon administration's diplomacy as 'humiliating diplomacy' and accuse it of selling out the country?"In this context, Choi Eun-mi, a senior researcher at the Asan Institute for Policy Studies, stated in a conversation with Aju Economy that "a phased plan is needed to be realized during the Lee Jae-myung administration," adding that while it is important to establish good relations with Japan, the government's efforts should ultimately aim to elicit a change in Japan's attitude to uphold South Korea's national interests. 2026-09-14 16:44:00
  • Sejong Law Firm Launches Electronic Shareholder Meeting Task Force Ahead of 2027 Implementation
    Sejong Law Firm Launches Electronic Shareholder Meeting Task Force Ahead of 2027 Implementation Sejong Law Firm, led by managing partner Oh Jong-han, announced on September 14 that it is strengthening its integrated advisory system for listed companies through the launch of its Electronic Shareholder Meeting Task Force (TF) in anticipation of the full implementation of the electronic shareholder meeting system in 2027.Starting January 1, 2027, listed companies with total assets exceeding 2 trillion won will be required to hold both in-person and electronic shareholder meetings. Companies preparing for electronic meetings must address various legal and practical challenges, including selecting management agencies, establishing contracts, setting internal operational standards, notifying shareholders, verifying identities, and managing communication disruptions, as well as ensuring data privacy.The Electronic Shareholder Meeting TF has been operational since discussions on the system began. Sejong proactively established the Corporate Governance Strategy Center and the Corporate Governance Research Institute to provide advisory and dispute resolution services related to shareholder meetings, board operations, and management disputes for numerous listed companies. Following the enactment of the revised Commercial Act, which introduced electronic shareholder meetings in July 2022, the TF has been active in publishing practical papers to address unprecedented operational issues in South Korea.The TF plans to provide timely legal services throughout the entire process of shareholder meetings, from pre-meeting preparations to post-meeting dispute resolution, based on the insights accumulated thus far.Key tasks include diagnosing each company's articles of incorporation, shareholder composition, existing electronic voting operations, and potential disputes. The TF will support the following steps: resolutions and notifications for holding electronic shareholder meetings, reviewing contracts with management agencies, establishing internal operational standards and meeting scenarios, setting guidelines for questions and voting rights, creating manuals for communication disruptions and emergencies, conducting pre-meeting rehearsals, managing operations and drafting minutes on the meeting day, and addressing disputes afterward.The Electronic Shareholder Meeting TF is led by Lee Dong-gun, a governance expert with extensive experience, along with attorneys Lee Sook-mi, Oh Se-ron, Choi Myung, and Baek Seung-woo, who have successfully handled numerous high-profile management disputes. Additionally, attorney Ahn Jung-ho, who has experience working with the Korea Communications Commission and has served as a legal advisor to the Personal Information Protection Commission and the Ministry of Science and ICT, and Ahn Hyo-seop, who has managed IR and shareholder relations for major companies like Samsung and Hyundai, are also part of the team.Given that electronic shareholder meetings intertwine corporate law issues with information and privacy regulations, Sejong aims to provide comprehensive support from pre-meeting consultations to day-of operations and post-meeting dispute resolution through a single point of contact.To commemorate the launch of the Electronic Shareholder Meeting TF, Sejong will host a hybrid seminar titled "A to Z for Successful Electronic Shareholder Meeting Preparation" on September 29.This seminar will not only explain the revised regulations and introduce management agency services but will also align with the actual workflow of practitioners preparing for electronic shareholder meetings.In collaboration with IR Q-Dus, the management agency that has worked with the TF, the seminar will review what decisions companies need to make and document at each stage, including selecting management agencies, establishing internal operational standards, notifying shareholders, managing operations on the meeting day, and post-meeting records and disclosures. Participants will closely examine the actual screens that operate within the management agency's system.Particularly, the seminar will demonstrate specific scenarios requiring company judgment, such as electronic attendance verification, electronic attendance by proxies, submission and selection of questions and comments, voting rights exercise and tallying, distribution of votes in cumulative voting, and responses to communication disruptions.Lee Dong-gun, managing partner and head of the Corporate Governance Strategy Center, stated, "Electronic shareholder meetings go beyond merely broadcasting traditional meetings online; they must substantively guarantee the rights of electronically attending shareholders while ensuring the legality of decisions and fairness with in-person shareholders. Sejong will provide comprehensive solutions tailored to each company's situation based on our accumulated experience in shareholder meetings and management disputes, proactive research, and collaboration with management agencies and practical experts."* This article has been translated by AI. 2026-09-14 16:40:10
  • Director Lee Joon-ik Discusses Fathers Home Cooking and the Short-Form Drama Format
    Director Lee Joon-ik Discusses 'Father's Home Cooking' and the Short-Form Drama Format Renowned director Lee Joon-ik, known for films like 'The King’s Man,' 'Dongju,' 'Byun San,' and 'Jasan Eobo,' has ventured into the unfamiliar territory of short-form drama. Expanding beyond traditional cinema, he is now exploring the trendy short-form format, seeking new ways to convey the essence of storytelling without being confined by the medium. “Initially, the question of ‘why short-form?’ felt a bit restrictive to me. Whether it’s short-form, film, or series, I see myself as someone who tells the same story in different ways. The format—whether vertical or horizontal—is merely superficial; what matters is the content within it. Ultimately, 'Father's Home Cooking' encapsulates the fundamental unit of our lives: family, and the familiar emotions that arise from those relationships. It’s a story about an aging couple and their son, daughter-in-law, and granddaughter sharing genuine feelings over meals. The vertical format is just that—a format, not the essence,” he said. 'Father's Home Cooking' was not originally conceived as a short-form project. As the series and film he was preparing faced funding delays, Lee decided to continue telling his story through this new format. “After many ups and downs, we arrived here. I had a series in preparation, but it was postponed due to funding issues, and I also wrote a film script that faced similar delays. In a situation where the reality didn’t align well, I chose to satisfy my storytelling hunger through short-form. It wasn’t because I preferred short-form or disliked traditional films or series; it was more about wanting to tell my story in any way I could,” he explained. Encouragement from younger creators also played a role in his decision. With the film industry facing stagnation and increasing barriers for new creators, Lee saw short-form as a potential avenue for expression. “There was some pressure. Young creators kept asking, ‘Why aren’t you doing this, director?’ Friends who used to be assistant directors are now at an age where they need to create their own works, but the industry is becoming more challenging for debuts. In this context, short-form can provide a platform where creators can take the lead in telling their stories, even with smaller budgets and scales. I believe it’s a good opportunity to express their abilities, and I wanted to support that trend,” he said. For Lee, the choice of short-form was less about the format and more about the subject matter. He emphasized that the core of the project lies in what is being told through the short-form. “Yes, the fact that I’m doing short-form is a primary choice, but what I’m doing it with is more important. I believe the ‘what’ is more significant than the ‘how.’ The current short-form market is still in its early stages, where provocative narratives hold competitive value. Just as Netflix initially thrived on sensational content before expanding into quality historical dramas and family stories, I believe the short-form must broaden its subject matter to attract a wider audience. That’s why I chose themes like ‘home cooking’ and family stories that resonate with older viewers,” he said. Lee noted that modern family dramas have become scarce in theaters and on OTT platforms. He views 'Father's Home Cooking' as a way to transplant categories of stories that once thrived in films into this new ecosystem. “These days, we don’t see many modern family dramas in theaters or on OTT platforms. Such stories used to exist in cinemas but have disappeared over time. From an investor's perspective, these themes are often deemed commercially unviable. Therefore, I thought of moving categories of stories that once existed in films into this new short-form ecosystem. It’s not that it was made for short-form; rather, I believe there’s a demand for such stories even in this format,” he said. 'Father's Home Cooking' began screening at the Bucheon International Fantastic Film Festival and has since moved to theatrical release. Although it was not initially planned for theaters, the enthusiastic audience response led to a solo screening opportunity at Lotte Cinema. “At first, I intended it to be just a short-form project. However, the Bucheon International Fantastic Film Festival suggested creating a section for theatrical screening. They screened it in a vertical format on a horizontal screen. When preparing for the theatrical release, we initially planned to cut it into two-minute segments with blackout transitions. But as articles were published and reactions emerged, it led to the idea of trying it in theaters. I didn’t plan everything from the start; life doesn’t always go as planned. If it happened because of external pressures, it could also indicate a market demand,” he said. Even when the 61 episodes of the short-form were compiled, the story structure kept the audience engaged. Lee believes the subtle twists within the narrative allowed for a longer viewing experience. “I think the reason viewers could watch nearly two and a half hours without getting bored is that the gentle story contained twists. Each episode from 1 to 61 has its own arc, and even when they were stitched together, it’s quite challenging to keep the audience engaged for that long. People monitoring the process initially intended to watch in segments but ended up watching it all at once. While sensational stories can become tiresome and predictable, I believe we found a structure that keeps viewers engaged despite dealing with familiar relationships and narratives,” he said. The vertical format also influenced how audiences experienced the story. In horizontal films, viewers can choose where to focus, but the vertical format compels them to confront a character’s face and emotions more directly. “Exactly. In horizontal films, if there’s a two-shot, the audience can choose whom to look at. But in vertical format, that choice is forced. You have to look at this character now, and then that character next. This can reduce the differences in viewing positions and create a more uniform density of experience for the audience. If it were horizontal, the audience would feel like they were observing a family eating and talking, but in vertical, it feels like one person is speaking directly to them,” he explained. The mobile viewing environment for short-form content also created a different experience. Lee realized through this project the differences in device and viewing conditions that he hadn’t noticed while editing. “I didn’t realize it while editing. Watching on a monitor in the editing room is different from how viewers experience it in theaters or on their devices. Typically, short-form content is often watched around 10 or 11 PM, usually while lying in bed. When you think about it that way, the audience is almost face-to-face with the characters on screen. It’s not just eavesdropping on someone else’s story; it feels like you’re engaging with that person’s inner world. I felt that the differences in device format and viewing conditions can influence the experience,” he said. The participation of actors also held significant meaning for Lee. Despite the lower budget, their involvement stemmed from a shared belief in the story's value. “I see it as a form of dedication. This isn’t a high-budget project, and the conditions for the actors were likely far from what they usually receive. Yet, they participated because they found meaning and value in this story. Actors like Jung Jin-young, Lee Jung-eun, and Byun Yo-han each have their own names and positions, and I wonder if they would have participated if it were merely sensational content. I believe this outcome was possible because they agreed with the meaning and value embedded in 'Father's Home Cooking,'” he said. Lee views the potential for growth in the short-form market positively. He cautioned against being trapped in domestic stereotypes that could cause the industry to miss out on the expanding global short-form market. “If we remain confined to domestic stereotypes, we might miss the ongoing developments in the short-form market abroad. The short-form market is already growing significantly overseas, and I believe we need to create opportunities quickly in Korea. While it’s challenging for theatrical films to generate simultaneous revenue overseas, short-form platforms can expand beyond Korea to Asia, Japan, Taiwan, and more. If Netflix is the leader in global real-time streaming, we need to create possibilities for a new future market that can respond to that. I hope 'Father's Home Cooking' contributes to that trend in some way,” he said. After experiencing the new stage of short-form, Lee Joon-ik is set to return to theatrical films. His next project, 'Firefly,' is in the process of filming and post-production, preparing to meet audiences soon. “I plan to start in about three weeks and continue until the end of December, and after post-production, I think we might be able to release it next year. However, the schedule may change depending on production circumstances,” he said. * This article has been translated by AI. 2026-09-14 16:40:00
  • Korean Construction Industry Seeks New Opportunities After 60% Drop in Overseas Orders
    Korean Construction Industry Seeks New Opportunities After 60% Drop in Overseas Orders This year, overseas construction orders for South Korean companies have sharply declined after reaching a record high last year. The drop is attributed to the base effect of large projects like the Czech nuclear power plant and delays in Middle Eastern contracts.According to the Ministry of Land, Infrastructure and Transport and the overseas construction industry, the total overseas construction orders from January to August this year amounted to $14.77359 billion, a decrease of about 60% compared to the same period last year. In contrast, last year saw orders totaling $47.27 billion, marking the highest level in 11 years since 2014's $66 billion.Last year's performance was significantly influenced by large projects such as the Dukovany nuclear power plant in the Czech Republic. This highlights the structural limitations of the overseas construction industry, where annual results can fluctuate dramatically based on a few large contracts.However, there are signs of recovery as large orders have begun to emerge this month. Samsung E&C secured a $3.5 billion contract for the 'SAN-7 Project' in Saudi Arabia on September 11, marking the largest single overseas order for a South Korean construction firm this year and exceeding the total orders from all domestic companies in the Middle East from January to August. This case illustrates how a single large project can significantly impact the overall statistics in the overseas construction market.In response, the government is focusing on transforming the structure of overseas construction, which has traditionally centered on simple contracting and construction. The fifth basic plan for promoting overseas construction, announced in July, emphasizes expanding package projects that encompass project planning, financing, design, procurement, construction (EPC), and operation and maintenance (O&M). New business areas such as data centers, small modular reactors (SMR), carbon capture, utilization, and storage (CCUS), and AI cities have also been identified as strategic fields.The upcoming Global Infrastructure Cooperation Conference (GICC) 2026, starting on September 15, is expected to serve as a platform for discovering new contracts and projects. The GICC connects domestic companies with foreign governments, contracting authorities, and financial institutions, having seen participation from 90 countries and 590 organizations since its inception in 2013.This year's conference will address key issues related to rail, road, urban development, and public-private partnerships (PPP), as well as AI and energy infrastructure projects. The ability of the government and industry to secure a stable pipeline of orders beyond the existing Middle Eastern plants and nuclear projects will be crucial.Kim Yoon-deok, Minister of Land, Infrastructure and Transport, stated, "With the spread of AI technology, the global infrastructure market is entering a transition phase centered on infrastructure that combines advanced technology and services. South Korea has accumulated technology and experience in smart cities and intelligent transportation systems based on world-class ICT technology, and we hope to establish ourselves as a global partner that meets the infrastructure needs of various countries through this GICC."* This article has been translated by AI. 2026-09-14 16:40:00
  • KOSPI suffers Asias worst hit on AI slowdown fears, surging oil prices
    KOSPI suffers Asia's worst hit on AI slowdown fears, surging oil prices SEOUL, Sept. 14 (AJP) - A push to slow down artificial intelligence (AI) development and oil prices climbing above US$108 a barrel both landed on South Korea's market at once, leaving it with little room to guard against either. South Korea's benchmark Korea Composite Stock Price Index or KOSPI closed down 3.3 percent or 225.54 points to close at 6,684. 37, the biggest drop in the region. Tokyo fell 0.8 percent and Shanghai finished close to flat, a gap that comes down to concentration. By market value, Samsung Electronics and SK hynix together account for roughly half the main board. A global de-rating of the AI trade and a jump in U.S. rate-hike odds therefore land on the same two stocks. Samsung Electronics fell 4.1 percent to 249,000 won ($185.00). SK hynix fell 6.4 percent to 1,697,000 won ($1,260.70). The fall was more than half again the drop in Samsung. Traders read the gap as its greater earnings exposure to high-bandwidth memory sold into AI servers. Foreign investors net sold 3.29 trillion won ($2.44 billion) on the main board and institutions sold 1.17 trillion won ($870.3 million). Individuals absorbed 2.97 trillion won ($2.21 billion) of that. The main index in Seoul opened at 6,692.61 and rallied as far as 6,773.97. It then broke to 6,654.82 before settling. Program trading ran 2.74 trillion won ($2.03 billion) net negative. The junior KOSDAQ fell 1.7 percent to 806.79, a milder session because the junior board carries far less of the memory complex. The rate leg of the selling is a two-day story. The Federal Open Market Committee meets on Tuesday and Wednesday. After a hotter-than-expected August inflation reading, futures markets moved to price a quarter-point increase as close to certain. That would be the first U.S. hike since 2023. Traders read the oil move as the mechanism. Saudi Arabia's East-West pipeline has stayed shut since a drone strike last week. Oman announced over the weekend that talks between Gulf states and Iran on shipping through the Strait of Hormuz had been postponed. Not everything sold. KB Financial Group rose 2.1 percent to 181,600 won ($134.90), the pattern of a market repositioning for higher rates rather than fleeing them. In Tokyo, the Nikkei 225 fell 518.35 points, or 0.8 percent, to 63,492.99. The damage there was concentrated rather than broad. SoftBank Group fell 10.7 percent to 5,839 yen after OpenAI chief executive Sam Altman said the company would not list this year. He also backed Anthropic chief executive Dario Amodei's call for the industry to slow down. SoftBank's committed investment in OpenAI is approaching $65 billion, and a listing had been the market's assumed exit. Kioxia Holdings fell 6.4 percent to 50,590 yen and Advantest fell 2.0 percent to 31,080 yen. Chinese equities were the outlier. The composite index in Shanghai moved little, with Semiconductor Manufacturing International Corporation lower and WuXi AppTec sharply higher. Investors read that chip complex as priced off domestic substitution rather than the AI capital-expenditure cycle now being questioned. The won weakened 2.30 won against the dollar to 1,346.10. One session erased the whole of last week's 3.3 percent gain. The KOSPI now sits more than 350 points below the 7,000 level it reclaimed on September 9 for the first time in 33 sessions. The retail bid has been reliable through this cycle and has not been enough. Foreign flows set direction on this market, and nothing before Thursday's Seoul open is likely to bring them back. AJP Takeaways - KOSPI closed down 3.3 percent, the heaviest loss in the region, shedding 225.54 points to 6,684.37 as foreign investors net sold 3.29 trillion won ($2.44 billion) on the main board. - SK hynix fell 6.4 percent to 1,697,000 won ($1,260.70), a steeper drop than the 4.1 percent decline at Samsung Electronics, on two stocks that together account for roughly half the main board by market value. - SoftBank Group fell 10.7 percent to 5,839 yen after OpenAI chief executive Sam Altman said the company would not list this year, removing the exit the market had assumed for an investment approaching $65 billion. Tags: KOSPI, KOSDAQ, Samsung Electronics, SK hynix, KB Financial Group, Nikkei 225, SoftBank Group, OpenAI, Anthropic, Kioxia Holdings, Advantest, WuXi AppTec, Semiconductor Manufacturing International Corporation, Federal Open Market Committee, Strait of Hormuz 2026-09-14 16:35:42
  • Lawmaker Critiques Education Policy Amid Concerns Over Teacher Rights
    Lawmaker Critiques Education Policy Amid Concerns Over Teacher Rights Jung Sung-guk, a lawmaker from the People Power Party, sharply criticized the education policies of the Lee government, stating that the government is ignoring developmental stages and educational conditions while failing to provide clear solutions to the declining status of teachers.During a government question session in the National Assembly on September 14, Jung pressed Prime Minister Han Seong-sook on the controversy surrounding the National Education Commission's push to expand class hours for elementary school students in grades one and two, highlighting the chaos caused by government policies.Jung questioned the recent movement to increase class hours for first and second graders, asking, "Isn't this just a way to warm up the discussion without proper public discourse?" He emphasized the differences in developmental stages between first graders and sixth graders, questioning whether the government truly understands the burdens teachers face.In response, Prime Minister Han stated, "This has not gone through an official public discourse process; I received reports from forums organized by the National Education Commission. Given the strong opinions from parents' groups and related organizations, we will not proceed without a public discourse process." She also acknowledged the differences in student focus and educational burdens on teachers.Jung then referenced the Netflix series 'True Education,' bringing attention to the pressing issues of declining teacher rights and confusion in student care. He remarked, "While I do not agree with the punitive measures depicted in the drama, we must consider the reality where teachers feel catharsis from the character who assures them, 'Do not worry about lawsuits; focus on education, I will protect you.' Can you assure us that you will protect teachers?"However, Han's response remained at a general level. She noted, "I have heard that the reality in the field is more serious than what is portrayed in the drama, and it is connected to the welfare ministry's care system, which we are examining. While discussions are ongoing among the police, prosecution, education ministry, and welfare ministry regarding the status of teacher rights, the issues related to child welfare laws are intertwined, and we need coordination among the relevant ministries, making it difficult to provide a clear direction immediately."When Jung pressed her on her level of interest in education as Prime Minister, Han replied, "Elders in education have said that if education improves, many other things will improve, so I am closely examining related matters." 2026-09-14 16:32:00
  • Lee Seong-joo Appointed as New President of MBC Under Revised Broadcasting Law
    Lee Seong-joo Appointed as New President of MBC Under Revised Broadcasting Law 이성주 iMBC 경영이사가 MBC 신임 사장으로 최종 선임됐다. 14일 MBC는 주주총회를 열고 이성주 사장 내정자에 대한 신임 사장 선임안을 가결했다고 밝혔다. 앞서 MBC 대주주이자 관리·감독기구인 방송문화진흥회(이하 방문진)는 지난 13일 임시 이사회를 개최했다. 방문진은 이성주 내정자와 전동건 전 울산MBC 사장 등 2명의 후보를 두고 최종 면접과 표결을 진행한 끝에 이 내정자를 신임 사장으로 최종 낙점한 바 있다. 이번 사장 선출은 개정 방송법이 처음으로 적용된 사례라는 점에서 각계의 이목을 끌었다. 시민 150명으로 구성된 사장후보국민추천위원회(사추위)가 정책 발표회와 숙의 토론을 거쳐 후보를 압축했으며, 이후 방문진이 최종 면접과 의결을 진행하는 절차를 밟았다. 이성주 신임 사장은 1995년 MBC 기자로 입사해 언론 현장을 누볐다. 이후 전국언론노동조합 MBC본부 위원장, 미디어기획국장, iMBC 경영이사 등 주요 보직을 두루 역임하며 실무 능력과 리더십을 인정받았다. 신임 사장의 임기는 3년이다. 한편, 전국언론노동조합 MBC본부는 이날 성명을 내고 신임 사장 취임에 대한 당부의 뜻을 전했다. 노조 측은 이 신임 사장에게 축하를 건네며 "합리적 설득과 투명한 절차로 구성원의 동의를 이끌어내는 신뢰와 포용의 리더십을 보여주기를 바란다"고 강조했다.* This article has been translated by AI. 2026-09-14 16:28:00
  • Government Condemns Houthi Attacks on Saudi Arabia, Calls for Immediate Cessation
    Government Condemns Houthi Attacks on Saudi Arabia, Calls for Immediate Cessation The government condemned the Houthi rebel attacks targeting civilians and economic facilities in southern Saudi Arabia on September 14, which resulted in numerous civilian casualties.In a statement, the Ministry of Foreign Affairs said, "Attacks on civilians and civilian facilities, as well as actions that hinder the free and safe navigation of vessels, cannot be justified for any reason." The ministry urged an immediate halt to such attacks.It emphasized that ensuring free and safe navigation in the Red Sea, along with peace and stability in the Middle East, is crucial for global supply chains and energy security, including for South Korea and the international community.Additionally, the government expressed deep solidarity with Saudi Arabia regarding the recent attacks and called on the Houthi rebels to refrain from escalating the situation.Meanwhile, the Houthi rebels launched missile and drone attacks on Saudi Arabia's energy infrastructure on September 8, resulting in the deaths of dozens of civilians.* This article has been translated by AI. 2026-09-14 16:28:00