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  • Yen Strengthens Amid Fed Rate Hike Concerns; Won-Dollar Exchange Rate at 1340s
    Yen Strengthens Amid Fed Rate Hike Concerns; Won-Dollar Exchange Rate at 1340s The won-dollar exchange rate has slightly decreased, fluctuating in the 1340s.As of 9:52 a.m. on the 14th, the exchange rate in the Seoul foreign exchange market is 1,344.6 won per U.S. dollar. Earlier, at 6 a.m., the rate was trading at 1,344.1 won, down 1.8 won from the previous day's closing rate of 3:30 p.m.The strengthening of the yen, in response to concerns over potential interest rate hikes by the U.S. Federal Reserve, is seen as contributing to the rise in the value of the won. At the same time, the dollar index, which measures the value of the dollar against six major currencies, rose 0.06% to 99.18. The yen-dollar exchange rate is trading at 153.65 yen, up 0.14%.On the 11th, international oil prices fell. Brent crude for November delivery dropped 2.81% to $104.61 per barrel, while West Texas Intermediate (WTI) for October delivery fell 2.37% to $100.05 per barrel. This marks the first decline in six and nine trading days, respectively.In the domestic stock market, foreign investors are showing a selling trend. Early in the session, foreign investors have net sold 1.5227 trillion won worth of stocks in the securities market.The exchange rate is expected to decline initially due to the yen's strength before rebounding. Min Kyung-won, an economist at Woori Bank, stated, "Amid concerns over Fed rate hikes, the yen's strength triggered by bets on Bank of Japan (BOJ) rate increases is likely to attempt to dip below 1,340 won before rebounding."He added, "With core inflation exceeding expectations, concerns over Fed rate hikes have increased, and in the global foreign exchange market, the BOJ's rate increases are being priced in more aggressively than those of the Fed. It is highly likely that Asian currencies, including the won, will also be influenced by the yen's strength."* This article has been translated by AI. 2026-09-14 10:08:00
  • BRICS Summit Highlights Unity but Reveals China-India Tensions
    BRICS Summit Highlights Unity but Reveals China-India Tensions The BRICS summit concluded on September 13 in New Delhi, showcasing both achievements and limitations. The unanimous joint statement adopted by the leaders of BRICS member countries on September 12 is considered the summit's most significant success. The leaders expressed "deep concern" over escalating tensions in the Middle East and urged all parties to exercise maximum restraint and avoid actions that could worsen the situation. Peng Nian, head of the Asia Research Center in Hong Kong, noted that despite differences between Iran and the United Arab Emirates regarding the war in Iran, BRICS successfully issued a joint statement with support from both Middle Eastern members. He interpreted this as a sign of strengthened internal cohesion within BRICS and suggested that the group might take a more proactive stance on regional issues in the future, while also predicting increased criticism from the West. Lan Qingxin, a professor at the BRICS Research Center of the University of International Business and Economics, stated that the summit positioned BRICS as a platform to enhance the resilience of the Global South's development. He emphasized that due to varying stages of development and economic structures among member countries, they would seek common interests through practical cooperation in trade, investment, finance, infrastructure, and technology. Ran Jijun, a professor at the China Foreign Affairs University, remarked that BRICS has already established a multi-layered cooperation structure, including meetings of foreign ministers, high-level representatives for security, and economic and trade ministers, and that cooperation would continue to strengthen. However, there are concerns that differing national interests may limit BRICS's potential to evolve into a new political and economic bloc to rival the G7. Zhu Feng, a professor at Nanjing University, pointed out that India's dissatisfaction with China remains unresolved, and geopolitical competition among major members is evident. Indian Prime Minister Narendra Modi stated during the summit that "the weaponization of technology and critical minerals could hinder our collective development," a comment interpreted as a reference to China's export controls on rare earths. Liu Zongyi, a senior researcher at the Shanghai International Studies Institute, highlighted that geopolitical trust remains a significant weakness, particularly the trust issues between China and India, which he identified as the biggest problem within BRICS. Luominghui, an associate professor at Nanyang Technological University in Singapore, expressed skepticism about Middle Eastern countries viewing BRICS as an alternative to the Western security framework, suggesting that these nations seek market access, trade expansion, economic opportunities, and diplomatic space from BRICS. Former Indian Foreign Secretary Nirupama Rao predicted that China, which will hold the BRICS presidency next year, will aim to strengthen political cooperation within the group, but India will be cautious about BRICS transforming into a China-led geopolitical bloc. Chatham House senior researcher Chithig Vazhappilly noted that while Brazil and India view BRICS as an economically focused cooperative entity, China and Russia perceive it as having a stronger geopolitical character, indicating differing interpretations of BRICS's direction among member countries. BRICS, established in 2006 by Brazil, Russia, India, and China, expanded to include South Africa in 2011. In 2024-2025, Iran, the UAE, Egypt, Ethiopia, and Indonesia are set to join, bringing the total membership to ten countries.* This article has been translated by AI. 2026-09-14 10:04:20
  • Apples First Foldable Phone Sparks Pre-Order Frenzy in China
    Apple's First Foldable Phone Sparks Pre-Order Frenzy in China Apple's first foldable phone, the iPhone Duo, is generating significant pre-order excitement in China, more than a month before its official sale. As demand surges, speculators on secondhand trading platforms are asking for prices several times higher than the retail price.According to Apple’s official website in China, pre-sales for the iPhone Duo will begin at 8 p.m. on October 16, with the official launch set for October 23. The base model with 256GB of storage is priced at 15,999 yuan (approximately $2,321), while the top-tier 2TB model costs 26,499 yuan.Chinese media outlets, including TMTPost and China Business News, report that interest in securing the device has been evident for over a month prior to the pre-order period.On platforms like Xianyu, services for 'purchase assistance' on launch day have emerged, with fees typically ranging from 200 to 1,000 yuan. Sellers claim an 80% success rate for these purchase assistance services.Some resellers, known as 'huangniu' (speculative resellers), have listed the iPhone Duo for as much as 90,000 yuan (about $13,000), which is more than three times the official price of the top-tier 2TB model. However, this figure represents asking prices rather than actual transaction amounts.China's Jiemian News highlighted a case of a reseller seeking a bank loan of several million yuan to secure a large inventory of the iPhone Duo. The reseller believes that the potential profits will far exceed the bank interest, and plans to hire part-time workers to assist with purchases on launch day.The price premiums before launch are attributed to expectations of limited initial supply. Japan's Nikkei reported earlier this month that the daily production of the iPhone Duo was only in the hundreds as of August. The complexity of manufacturing the foldable structure is a significant factor, leading analysts to suggest that Apple’s early success hinges on its production capacity.Apple analyst Guo Mingchi previously projected in July that the assembly shipments of the iPhone Duo in the third quarter would be limited to between 500,000 and 1 million units. If consumers face wait times of 4 to 6 weeks or longer, the premiums in the secondhand market could reach 50% to 100% above the official retail price.Interest in the iPhone Duo is rapidly increasing in China. According to China Fund News, as of the evening of September 13, over 1.2 million people had applied to 'reserve' the iPhone Duo on JD.com’s Apple flagship store. However, since Apple’s official pre-sales do not start until October 16, this number may not translate into actual purchase orders.Globally, the outlook for the iPhone Duo appears optimistic. Market research firm Counterpoint Research projected on September 7 that Apple will capture 25% of the global foldable phone market in its first year, surpassing Huawei's expected 22% and positioning itself as the second-largest player after Samsung, which is projected to hold 38%. 2026-09-14 10:04:10
  • Anthropic Projects Profitability Ahead of IPO, Diverges from OpenAIs Losses
    Anthropic Projects Profitability Ahead of IPO, Diverges from OpenAI's Losses AI startup Anthropic is projected to report profitability for the second consecutive quarter as it prepares for its initial public offering (IPO). In contrast, its competitor OpenAI has announced it will not go public this year due to declining performance and recent safety controversies surrounding AI.On September 13, the Financial Times reported, citing multiple sources, that Anthropic informed a small group of shareholders that its adjusted operating profit (excluding stock compensation costs) is expected to show profitability for the third quarter. Last month, Anthropic reported a staggering 14-fold increase in second-quarter revenue to $11.5 billion compared to the same period last year, marking its first-ever adjusted operating profit of approximately $559 million. Additionally, as of the end of July, Anthropic's annualized revenue was projected to reach $65 billion, a more than sevenfold increase from $9 billion at the end of last year.Sources indicated that Anthropic's gross profit margin exceeds 80% before accounting for revenue-sharing costs with distribution partners like Amazon and model training expenses. This focus on profitability is crucial for investors as Anthropic approaches its IPO, which is anticipated to occur within the next month, according to the Financial Times.Currently valued at around $965 billion, Anthropic is pursuing an IPO that could exceed $20 trillion to secure additional computing resources necessary for AI model development, surpassing the record $1.77 trillion IPO set by SpaceX this year.Joy Brookhart, a researcher at semiconductor and AI research firm SemiAnalysis, projected that Anthropic's annual revenue could reach $120 billion this year and nearly triple that amount next year. He stated, "If this level of profitability and growth continues, competing with Anthropic will be very difficult due to their substantial computing resources."According to Reuters, Anthropic plans to initiate its IPO process in mid-October, aiming to complete the listing just days before the U.S. midterm elections on November 3. Sources indicated that Anthropic has chosen Nasdaq as its listing exchange.AI Safety Concerns as a VariableHowever, the Financial Times noted that recent concerns regarding AI safety and calls for a slowdown in the development of advanced AI models could pose challenges. Slowing down the pace of advanced AI model development might reduce costs for computing resources like semiconductors, but it could also provide an opportunity for emerging AI companies in countries like China to catch up.Dario Amodei, CEO of Anthropic, expressed his concerns about the rapid advancement of AI technology in a blog post on September 12, urging the entire AI industry to participate in slowing down the development of advanced models. He announced plans to implement new safety measures, including involving independent evaluation organizations with access levels similar to employees. This initiative has garnered support from key figures in the AI industry, including Sam Altman, CEO of OpenAI, and Elon Musk, CEO of SpaceX and Tesla.Meanwhile, OpenAI, which also aimed for an IPO this year, has decided to postpone its plans amid the recent safety controversies. In an interview with Fortune published on September 12, CEO Sam Altman stated that the timing is not right for an IPO and confirmed that there will be no public offering until next year.OpenAI's decision to halt its IPO plans is also influenced by its underwhelming performance. According to a report by the Wall Street Journal last month, OpenAI's second-quarter revenue reached $6.7 billion, an 18% increase from the previous quarter, but its operating loss (including stock compensation costs) widened to $12.3 billion, a 32% increase. 2026-09-14 10:04:10
  • Ottogi Commemorates 10th Anniversary of Late Honorary Chairman Ham Tae-ho
    Ottogi Commemorates 10th Anniversary of Late Honorary Chairman Ham Tae-ho Ottogi held a memorial service to commemorate the 10th anniversary of the late Honorary Chairman Ham Tae-ho, reflecting on the founding principles of quality first and sharing.On September 11, Ottogi conducted the memorial service at Ham Tae-ho Hall in Anyang, Gyeonggi Province. The event was attended by Ottogi Chairman Ham Young-jun, President Hwang Seong-man, and other employees who paid their respects with flower offerings.Born in 1930 in Wonsan, Ham Tae-ho volunteered for military service during the Korean War. After gaining management experience in the food raw materials industry, he founded the predecessor of Ottogi, Punglim Sangsa, in 1969, entering the food business.Starting with the launch of 'Ottogi Curry' that same year, he expanded the product line to include soups, ketchup, mayonnaise, and vinegar. He also introduced instant foods like 'Ottogi 3-Minute Curry,' contributing to the development of domestic food culture.Ham emphasized that "we must create products with the mindset that they are food for our families," prioritizing quality as the foremost value. He valued the concept of 'Food for the Nation' and the social responsibilities of businesses. The tradition of raising the national flag at all Ottogi factories and singing the national anthem at monthly meetings and major events originated from this founding spirit.He consistently focused on social contributions, starting to support children with congenital heart disease through the Korean Heart Foundation in 1992. In 1996, he established the Ottogi Ham Tae-ho Foundation, expanding charitable efforts through scholarship programs and academic support. The initiative, which began by helping five children monthly, has supported a total of 6,783 children as of August this year.Under the corporate philosophy of contributing to the improvement of human dietary habits and health, Ottogi continues to uphold the founder's management principles. This year, the Anyang factory opened 'Ham Tae-ho Hall,' a heritage space showcasing the life and management philosophy of Ham, as well as the history of Ottogi and domestic food culture.Ham Young-jun, Chairman of Ottogi, stated, "It is crucial to inherit and develop the founding spirit and management philosophy of founder Ham Tae-ho, ensuring that Ottogi remains a sustainable company regardless of who leads it. We will continue to contribute to the improvement of human dietary habits, carrying on the meaning of 'Punglim' and striving to move forward without resting on past achievements."* This article has been translated by AI. 2026-09-14 10:04:10
  • Robot Vacuums Safeguard Camera and Voice Data, but Some Guidance Lacks Clarity
    Robot Vacuums Safeguard Camera and Voice Data, but Some Guidance Lacks Clarity Major robot vacuums sold in South Korea, including those from Samsung Electronics, LG Electronics, and Roborock, have been found to handle personal data such as camera footage, voice commands, photos, and mapping information without significant risk of privacy violations. However, some instances were identified where the legal basis for data processing was not clearly distinguished in privacy policies, and user choice was not adequately ensured.The Personal Information Protection Commission (PIPC) announced on September 14 that it had conducted a review of the data handling practices of major robot vacuums sold in the country.The review focused on the latest models of robot vacuums from brands like Roborock, Samsung Electronics, LG Electronics, Ecovacs, and Xiaomi, as of March last year. The PIPC examined how video, audio, photos, and mapping information collected through the vacuums' cameras and microphones are processed, transmitted, and stored.The findings revealed that when users check real-time video from the robot vacuum's camera via an app, the video data is encrypted and transmitted to the user's app without being stored on the company's servers. Similarly, when users give voice commands to the vacuum, the original audio is not stored on the server; instead, it is converted to text for processing. Captured photos are also temporarily stored and then deleted.The PIPC stated that no significant risks of personal data breaches were identified in the collection, transmission, and storage processes of video, audio, photos, and mapping information handled by the robot vacuums.However, the review found some shortcomings in user guidance regarding data processing and compliance with legal obligations. Notably, there were cases where the legal basis for data processing was not clearly communicated to users.Some companies provided combined information on personal data that could be processed without user consent for contract execution and data that required user consent, without clear differentiation. The PIPC has advised these companies to clarify their privacy policies and distinctly outline the legal bases for data processing.Additionally, the PIPC has called for improvements to enhance user choice during the data collection process for service enhancements. It urged companies to provide clearer guidance and selection procedures for users regarding the provision of personal information.Looking ahead, the PIPC plans to conduct further reviews in the second half of the year on new models of robot vacuums sold in South Korea to assess potential privacy risks associated with functional changes.* This article has been translated by AI. 2026-09-14 10:04:00
  • LG Electronics Opens First B2B AI Home Experience Space in Saudi Arabia
    LG Electronics Opens First B2B 'AI Home Experience Space' in Saudi Arabia LG Electronics is making a significant push into the Global South market by actively showcasing its integrated artificial intelligence (AI) home solutions for business-to-business (B2B) transactions. On September 14, LG Electronics announced the official opening of its first 'AI Home Experience Space' in Riyadh, Saudi Arabia. This space is an offline store designed for B2B customers, including local construction companies, and is modeled after premium residential environments in the region, featuring living rooms, kitchens, bedrooms, and bathrooms. It showcases locally tailored built-in appliances such as ovens, hoods, and refrigerators, along with furniture from lifestyle brand collaborations, creating a realistic living space. Visitors can experience a futuristic living environment where AI operates according to users' lifestyle patterns and the characteristics of the space. The AI Home Hub 'ThinQ ON' serves as the centerpiece, allowing users to experience generative AI-based voice control and various IoT device integration features. This includes connectivity with a range of IoT devices distributed in Europe, the Middle East, and Africa through integration with the Homey Pro. Demand for smart buildings and premium housing is rapidly increasing in Saudi Arabia. According to market research firm Grand View Horizon, the Saudi smart home market is projected to grow from approximately $2 billion in 2024 to about $8.7 billion by 2030, with an average annual growth rate of over 27%. LG Electronics plans to leverage Saudi Arabia's geopolitical position by operating the Riyadh experience space as a B2B showroom for the Middle East and Africa, with plans to expand customer touchpoints to major cities such as Jeddah and Dammam within the year. Kim Sung-jae, head of LG Electronics' HS Overseas Sales Group, stated, "Starting with the Riyadh AI Home Experience Space, we aim to establish ourselves as a key B2B partner in local infrastructure construction projects by offering tailored solutions in the Middle East."* This article has been translated by AI. 2026-09-14 10:04:00
  • Ansan Mayor Lee Min-keun Pledges to Address Citizens Concerns on the Ground
    Ansan Mayor Lee Min-keun Pledges to Address Citizens' Concerns on the Ground Lee Min-keun, the mayor of Ansan, expressed his commitment on September 11 to "find answers on the ground for changes that citizens can feel." On this day, Mayor Lee visited key locations closely related to citizens' daily lives to hear their voices and seek improvement measures ahead of the 2027 budget planning. After visiting major sites in Choji-dong under the theme "Incorporating Citizens' Dreams into the Budget," he directly checked residents' daily inconveniences and discussed solutions. The visit included representatives from local organizations, residents, and relevant officials. This on-site visit aimed to allow the administration to directly confirm the inconveniences residents experience in their daily lives and prioritize necessary projects in the budget. Notably, the focus shifted from reviewing complaints at a desk to the mayor walking with residents on-site, examining the causes of issues and the need for improvements through field-centered administration. At the first stop, the Greenville 12 complex, residents raised concerns about the placement of street trees and signs obstructing pedestrian pathways. Residents traveling between Greenville 11 and 12 complexes, as well as those around Lakeside Village Apartments, reported that "street trees and various facilities are installed in the center of the sidewalk, causing difficulties for strollers and the elderly to move around." Residents accompanying the mayor described the inconveniences they regularly face, and he carefully examined the pedestrian pathways and the arrangement of facilities. Some residents expressed optimism, stating, "Seeing the mayor come to check on issues we often thought about gives us hope for change." Mayor Lee plans to comprehensively review the installation status of street trees and facilities in similar areas within the new city and consider relocation and maintenance plans for those obstructing pedestrian movement. At Dunbaemi Park, he listened to residents' opinions regarding the pathway connecting Choji Middle School and Greenville 11 complex. Residents voiced concerns that "when it rains, water accumulates on the pathway, making it difficult to walk, and at night, there is a lack of security lighting, causing anxiety for students and residents." Given that this area sees significant foot traffic from students and residents, they emphasized the need for a safe walking environment beyond simple facility maintenance. Attending residents noted, "While it may not seem like a big issue during the day, the atmosphere changes at night," and requested improvements to lighting and the walking environment to ensure residents can walk safely. After hearing residents' feedback, Mayor Lee confirmed the on-site conditions and instructed relevant departments to carefully review the residents' opinions to ensure they lead to practical improvements. He plans to explore various measures, including drainage and pedestrian environment improvements, as well as enhancing nighttime lighting, prioritizing projects based on residents' feedback. He also emphasized, "During the 2027 budget planning process, we will focus on projects that allow citizens to feel tangible changes in their daily lives and ensure that their voices are properly reflected in policies and budgets." Residents of Choji-dong responded positively to the visit. They expressed hope that the direct engagement of the mayor and officials in confirming their inconveniences would lead to more concrete improvements for the daily issues they have raised. One resident stated, "From our perspective, ensuring that the paths we use every day are safe and comfortable is the most important, rather than grand projects. I hope this leads to actual maintenance since the mayor came to listen to us directly." Mayor Lee stated, "The answers to administration lie in the field, and resolving each small inconvenience felt by citizens is the starting point of community-focused administration." He added, "I will ensure that the issues identified during direct inspections with residents do not remain mere suggestions but lead to practical improvements." Furthermore, Mayor Lee plans to continue visiting locations closely related to citizens' lives to listen to their voices and strengthen citizen-centered governance through 'field administration that changes citizens' lives' and 'policies that citizens can feel.'* This article has been translated by AI. 2026-09-14 10:04:00
  • Lees approval rating hits dismal low as young voters turn against him
    Lee's approval rating hits dismal low as young voters turn against him SEOUL, September 14 (AJP) - President Lee Jae Myung's approval rating has fallen to a record low of 33.8 percent, according to a poll released on Monday. Pollster Realmeter surveyed more than 2,500 adults nationwide last week and found that 33.8 percent of respondents said Lee was doing a good job, down 3.6 percentage points from the previous week. It marked the ninth consecutive week of decline and the lowest since he took office in June last year. It was the lowest level since he took office in June last year, marking the ninth consecutive week of decline. His disapproval rating rose 3.8 percentage points to 63.3 percent, surpassing 60 percent for the first time. Some 2.9 percent of respondents remained undecided. The decline in his approval rating was especially pronounced among younger voters and those who identified as progressives. Approval among voters in their 20s fell 10.2 percentage points, while support among progressives dropped 8 percentage points. It also declined 4.1 percentage points among those in their 60s and 3.6 percentage points among those aged 70 and older. By region, approval fell most sharply in Busan, Ulsan and South Gyeongsang Province, dropping 9.1 percentage points, followed by Daegu and North Gyeongsang Province at 6.8 points, Daejeon, Sejong and Chungcheong provinces at 6.5 points, and Gwangju and Jeolla provinces at 5.5 points. Citing a sharp decline in support among young voters in particular, Realmeter attributed the overall decline to controversies surrounding new ministerial nominees, debates over sending troops to the Strait of Hormuz, and persistent concerns over real estate-related policies and taxes. In a separate poll of about 1,000 adults, 36.1 percent backed the ruling Democratic Party (DP), while 42.1 percent supported the main opposition People Power Party (PPP), a reversal for the first time in 11 weeks. Support for other minor parties stood at 4.7 percent for the liberal Rebuilding Korea Party and 1.3 percent each for the centrist Reform Party and the left-wing Progressive Party. Some 12.2 percent of respondents said they did not support any of the parties. AJP Takeaways - South Korean President Lee Jae Myung's approval rating fell to 33.8 percent in a Realmeter poll released on Sept. 14, 2026, marking his lowest approval rating since taking office in June 2025 and the ninth consecutive weekly decline. - Approval for President Lee Jae Myung dropped most sharply among voters in their 20s, falling 10.2 percentage points, while support among self-identified progressives fell 8 percentage points, according to the September 2026 Realmeter survey of more than 2,500 South Korean adults. - In a separate Realmeter poll of about 1,000 South Korean adults released the same week, support for the main opposition People Power Party (PPP) reached 42.1 percent, surpassing the ruling Democratic Party (DP) at 36.1 percent for the first time in 11 weeks. 2026-09-14 10:02:50
  • Samsung Electronics Major Union Protests Offensive Remarks Against Chairman Choi Seung-ho
    Samsung Electronics' Major Union Protests Offensive Remarks Against Chairman Choi Seung-ho Samsung Electronics' largest union, the Samsung Group Major Union, has officially protested against another in-house union, the Donghaeng Union, demanding an end to derogatory and violent remarks aimed at Chairman Choi Seung-ho. The conflict between the unions, which has escalated over performance bonuses, has now turned into a dispute over the language used by the rival union's leadership.On September 14, industry sources reported that the Major Union recently sent a formal letter to the Donghaeng Union, stating that inappropriate expressions targeting Chairman Choi and Samsung Electronics employees were used in internal communication channels. They demanded an official response and measures to prevent recurrence.The Major Union claimed that the Donghaeng Union's communication included extreme expressions suggesting physical harm or mentioning death in reference to Chairman Choi. They also noted derogatory comments about Samsung Electronics employees and specific business divisions.In response, the Major Union requested clarification on the facts surrounding these statements and whether the Donghaeng Union's leadership was aware of them. They also sought information on whether any warnings or removals of the problematic comments had been made.The Major Union maintains that while differences in positions and criticisms between unions are acceptable, expressions that insult individuals or imply harm cannot be tolerated. They demanded an apology for the remarks and called for the establishment of internal standards and management measures to prevent similar incidents in the future.The conflict between the Samsung Electronics unions intensified during this year's wage negotiations. The Major Union, which has a significant number of members from the semiconductor (DS) division, and the Donghaeng Union, focused on the finished products (DX) division, have shown differing positions on the distribution of performance bonuses. The Donghaeng Union even withdrew from the joint negotiation group in May. Since then, both sides have engaged in multiple disputes over negotiations and compensation issues.Currently, the Major Union is also pursuing a reorganization that limits membership eligibility to the DS division. A vote among members on proposed amendments to related regulations and a motion of no confidence against two DX division executives is scheduled to take place starting September 16.Meanwhile, the Major Union has faced ongoing controversy surrounding Chairman Choi Seung-ho, following revelations that he signed a contract worth approximately 370 million won with a company run by his father-in-law for rally supplies. He has also been referred to prosecutors for alleged violations of personal information protection laws. In response to the contract with his father-in-law's company, Chairman Choi stated that he made the decision based on a comparison of prices and delivery conditions, asserting that he did not gain any personal benefit.* This article has been translated by AI. 2026-09-14 09:56:00