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South Korea Requests Exemption from UK Sanctions on Russian LNG The South Korean government has requested the United Kingdom to apply an exemption to sanctions related to the shipping and insurance services for Russian liquefied natural gas (LNG). It also urged improvements to import regulations that restrict the entry of South Korean steel into the UK market.The Ministry of Trade, Industry and Energy announced that Park Jeong-sung, head of the Trade Negotiation Headquarters, held a video conference on September 11 with Jonathan Reynolds, the new UK Minister for Business and Trade, to discuss trade issues between the two countries.During the meeting, Park expressed concerns about the impact of the UK's ban on shipping and insurance services for Russian LNG on South Korea's LNG supply and energy security. He highlighted that UK insurers play a significant role in the reinsurance of Russian LNG imports.Park also referenced the European Union's (EU) announcement on July 23, which included an exemption for South Korea's imports of Russian LNG, and requested that the UK consider similar exemptions for existing contracts.According to Korea Gas Corporation, South Korea imports 1.5 million tons of LNG annually under a long-term contract with the Russian Sakhalin-2 project. While domestic insurers provide primary insurance for transport vessels, EU and UK insurers participate in reinsurance to spread large risks. Even though the EU has recognized exemptions for Sakhalin-2 LNG services to South Korea until March 31, 2028, separate measures from the UK are still necessary.Previously, the government indicated that restrictions on related insurance services could disrupt the import of approximately 2 million tons of LNG from remaining contracts, valued at 1.75 trillion won. Sakhalin-2 LNG is crucial for winter supply, taking about four days for one-way transport to South Korea.The UK government’s guidelines allow for exemptions under certain conditions for LNG contracts signed before June 17 of last year until January 1 of next year. South Korea's request aims to secure sanctions exemptions to fulfill long-term contracts even after the existing grace period.In the steel sector, Park conveyed concerns from domestic industries, stating that the UK's new steel measures, implemented since July, have restricted access for South Korean steel products to the UK market. He called for prompt improvements, emphasizing the need to consider the high level of market openness and stable trade relations maintained through the World Trade Organization (WTO) and the Free Trade Agreement (FTA) between South Korea and the UK.Additionally, both sides agreed to closely cooperate to expedite the signing and implementation of the improved Korea-UK FTA, which was finalized in December of last year. The improvement agreement includes relaxed rules of origin and expanded access to service and procurement markets.The Ministry of Trade expects that the improvement agreement will contribute to the expansion of market access and trade between businesses in both countries. Both parties committed to continuing communication to enhance cooperation and resolve trade issues amid uncertainties in the global trade environment.* This article has been translated by AI. 2026-09-11 17:32:00 -
Japanese Manufacturers Face Earnings Concerns Amid Unexpected Yen Strength The yen-dollar exchange rate has recently dropped by about 10 yen, falling below the expected rates applied to the earnings forecasts of more than half of Japan's major companies. Approximately 90% of the profit increase for 20 major manufacturers in the April to June period was due to the weaker yen, indicating that the yen's appreciation could negatively impact manufacturing performance.According to the Nihon Keizai Shimbun (Nikkei) on September 11, a report from financial information firm QUICK revealed that among 360 major listed companies in Japan that disclosed their expected exchange rates, 150 set their rates for the 2026 fiscal year (April 2026 to March 2027) at 155 to 159 yen per dollar, while 35 companies anticipated rates of 160 to 164 yen. The current yen-dollar exchange rate (153 to 154 yen) is lower than the expected rates of 185 companies, which account for 51.4% of the total.The yen-dollar exchange rate approached 164 yen in late July but fell to the low 155 yen range following a joint intervention by the U.S. and Japan. It rebounded to the 160 yen range at the end of August but has since plummeted to the 153 to 154 yen range this month. Companies have been adjusting their expected rates upward, reflecting the 160 yen rate from late July when earnings reports for the April to June period began to be released.Toyota Motor Corporation raised its expected exchange rate from 150 yen to 160 yen during its earnings announcement for the April to June period last month. For every 1 yen decrease in the yen-dollar exchange rate, Toyota's annual consolidated operating profit decreases by approximately 50 billion yen (about $435 million). Hitachi, Fujifilm Holdings, and Seiko Epson also increased their expected rates to 160 yen, 156 yen, and 155 yen, respectively, in their latest earnings announcements.Kenji Abe, chief strategist at Daiwa Securities, estimates that a 1 yen decline in the yen-dollar exchange rate results in a roughly 0.3% decrease in the ordinary profits of all listed Japanese companies. Including the impact of the yen's strength against the euro, the decline could be about 0.4%. This is due to a reduction in the yen-denominated value of overseas earnings and a deterioration in export profitability. Japanese Companies Report Losses Without Yen Depreciation BenefitsJapanese listed companies reported strong earnings for the April to June period, driven by increased demand for AI semiconductors and the benefits of a weaker yen. The operating profits of 20 major manufacturers in the automotive, precision instruments, electrical and electronics, and heavy machinery sectors increased by a total of 779.8 billion yen (approximately $6.8 billion) compared to the same period last year, with about 90% of this increase attributed to the weaker yen.TDK, which generates over 90% of its sales from overseas, saw its operating profit rise by 29.8 billion yen, with 11.3 billion yen coming from the weaker yen. Mitsubishi Electric, which has 57% of its sales from overseas, reported an adjusted operating profit increase of 50.5 billion yen, with 22 billion yen attributed to the weaker yen.Mazda returned to profitability in the April to June period, but without the yen depreciation benefits, it would have reported a loss. Mitsubishi Motors also faced an operating loss when excluding currency effects. The Nikkei noted that the weaker yen has masked the structural weaknesses faced by automotive companies. Tetsuya Fujimoto, Mazda's chief financial and accounting officer, stated during the earnings announcement press conference, "We are pushing forward with structural reforms and cost-cutting activities, and it is crucial to build resilience against currency fluctuations."However, the yen's appreciation is not detrimental to all Japanese companies. It reduces the costs of importing raw materials, fuel, and food, supporting domestic businesses. Importers like Nitori Holdings, which brings furniture and household goods produced overseas into Japan, benefit from a stronger yen.The Nikkei forecasts that the earnings of companies listed on the Tokyo Stock Exchange's Prime Market (excluding finance) will increase by over 10% year-on-year for the 2026 fiscal year, despite the yen's strength, due to ongoing strong performance in semiconductor and data center-related companies driven by AI investments from U.S. tech firms. However, Hideaki Ide, chief equity strategist at the Nissay Asset Management Research Institute, cautioned that while manufacturing can withstand a yen-dollar rate of 150 yen, if the rate falls below that, the overall performance of the manufacturing sector will decline, even if semiconductor-related companies continue to perform well.Meanwhile, the market is closely watching the Bank of Japan's monetary policy meeting scheduled for September 17-18. If comments suggesting an acceleration in interest rate hikes emerge from the Bank of Japan, the yen-dollar exchange rate could fall further. Conversely, concerns over Japan's fiscal deterioration may exert potential selling pressure on the yen. The Nikkei predicts that the exchange rate will experience significant fluctuations in the near term. Ayako Sera, chief economist at Mitsui Sumitomo Trust Bank, noted that the underlying political uncertainties, including messages from U.S. and Japanese financial authorities, contribute to the high volatility of the exchange rate.* This article has been translated by AI. 2026-09-11 17:28:00
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Moon Sang-ho Acquitted of Military Secrets Leak Charges On December 2, 2024, Moon Sang-ho, a former commander of the Defense Intelligence Command, was acquitted of charges related to leaking military secrets to Noh Sang-won, a former commander of the Army Intelligence Command, who was a civilian at the time. The Seoul Central District Court's Criminal Division 26, presided over by Judge Lee Hyun-kyung, delivered the not guilty verdict on September 11. The special investigation team for insurrection, led by Special Prosecutor Jo Eun-seok, had sought a five-year prison sentence during the closing arguments in July. Moon was accused of disclosing information about the intelligence agency's status and missions to Noh after reporting to then-Defense Minister Kim Yong-hyun on December 2, the day before the emergency martial law was declared. During the investigation, it was revealed that Moon had communicated with Noh, stating, "I reported on special forces, missions, and equipment," and mentioned that he was instructed to prepare. However, the court determined that these statements did not contain specific mission details, making it difficult to classify them as military secrets. References to special forces and equipment were deemed to pertain to publicly known information about the intelligence agency's organizational structure and equipment used by military and civilian sectors. The court stated, "The defendant's statements alone do not suggest that the disclosed information could lead to military harm," and it was also difficult to conclude that Noh had recognized the information in the charges based on what he already knew. The court did not acknowledge any intent to leak classified information, concluding that Moon was merely trying to convey the information he reported to Minister Kim, with insufficient evidence to suggest he intended to disclose military secrets. However, the court rejected Moon's claim that the black box security digital (SD) card containing the call details and electronic information was unlawfully obtained. The court found that proper procedures were followed during the seizure, ensuring Noh's right to participate was protected. Separately, Moon was sentenced to two years in prison in the first trial for allegedly providing personal information of over 40 intelligence agency personnel to Noh. The first hearing for the appeal in this case is scheduled for the 15th.* This article has been translated by AI. 2026-09-11 17:24:00
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National Railroad Corporation Launches Public Safety Campaign The National Railroad Corporation has enhanced safety awareness among rail passengers and the public while promoting a culture of rail safety.On September 11, the National Railroad Corporation announced the conclusion of its "Public Rail Safety Campaign," which ran from August 14 to September 11 across six regional offices nationwide.This campaign aimed to directly inform the public about safety rules to follow when using railways, such as at train stations and level crossings, and to encourage voluntary safety practices.More than 140 employees from the six regional offices, including those in the metropolitan area, GTX, Yeongnam, Honam, Chungcheong, and Gangwon, participated in safety promotions tailored to the local rail environment and passenger characteristics.They provided guidance on key safety rules, such as stopping at level crossings, checking for trains in both directions, and prohibiting unauthorized access to tracks and overhead lines, while distributing informational materials to rail users and pedestrians at crossings.Jung Jin-hyuk, the Commissioner of the National Railroad Corporation, stated, "Rail safety begins with the attention of all citizens and the practice of basic safety rules. We will continue to promote safety at train stations and level crossings, focusing on establishing a proper rail usage culture and preventing accidents."Additionally, Commissioner Jung declared upon taking office on September 1 that he would prioritize safety in all decision-making and strengthen a data-driven, preventive safety management system.* This article has been translated by AI. 2026-09-11 17:24:00
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Dongin Law Firm Receives Seoul City Council Chair Award for Social Contributions Dongin Law Firm announced that it has received the Seoul City Council Chair Award for its contributions to the promotion of community sharing culture and social welfare.The award was presented during the '2026 Seoul Welfare Conference' held on September 10 at the Seoul Women's Plaza International Conference Hall in Daebang-dong, Seoul, in celebration of the 27th Social Welfare Day.Dongin received this honor based on a recommendation from the Seoul Women's Protection Center, which it has supported since 2017. The firm has been donating funds annually to assist in the protection and empowerment of marginalized women. Attorneys Oh Se-bin and Kim Kwang-hoon from Dongin participate as members of the center's human rights guardianship team, providing legal advice and support to enhance the rights and welfare of residents in the facility.Park Bo-young, chair of Dongin's Public Interest Committee, expressed her joy at the recognition, stating, "I am pleased that our small acts of sharing for neighbors in need have led to this meaningful award. We will continue to fulfill our social responsibilities and engage in activities that provide tangible help to marginalized communities."* This article has been translated by AI. 2026-09-11 17:24:00
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Government Questions Spark Debate Over Expansionary Fiscal Policy On September 11, lawmakers clashed during a government questioning session in the National Assembly over the Lee Jae-myung administration's second cabinet reshuffle and its expansionary fiscal policy. The Democratic Party emphasized the necessity of the government's three major mega projects, while the People Power Party criticized the rising national debt. People Power Party lawmaker Song Eon-seok stated, "The South Korean economy is facing a crisis of accelerated aging. The growth rate continues to decline, and the ladder to independence for young people has collapsed," adding, "While our economy is aging, the government is rapidly expanding." He pointed out that the projected nominal growth rate for next year is 4.6%, while government spending is set to increase by 12.8%. "Government spending is growing three times faster than economic growth," he said, stressing the need for an environment that fosters private investment and innovation rather than government expansion. Song also raised concerns about the declining youth employment rate, questioning Prime Minister Han Seung-soo about government measures. Han expressed regret over the low youth employment rate, attributing it to changes brought about by artificial intelligence and a corporate environment that prioritizes hiring experienced workers. In response, Song argued that government regulations and high taxes are stifling investment and job creation. He stated, "While AI has had an impact, we need to encourage companies to increase their investments," and called for policies that create structures for more entry-level hiring. Song further criticized the rising national debt, noting that government spending has increased by 100 trillion won in just one year. He projected that under the Lee Jae-myung administration, national debt is expected to rise to 429.6 trillion won and questioned why the government is incurring debt for its future response fund. In reply, Han stated, "Tax revenues are increasing, and the national debt ratio is decreasing," highlighting improvements in exports across various sectors, including AI, semiconductors, shipbuilding, and K-beauty. He acknowledged the need to address the disparity in living conditions and mentioned that the government is working with companies to create opportunities for youth employment through the K-New Deal. Regarding the future response fund, Han explained, "Companies sometimes take out loans even when they have cash reserves because they need to invest in critical industries and prepare for the future," assuring that measures related to debt will be established while maintaining fiscal soundness. Song also pressed Han on allegations against Kim Seung-won, the nominee for Minister of Justice, regarding stock price manipulation. He asked, "Is the government taking action against Kim's serious allegations of stock manipulation, especially after the President stated that those involved in such actions would face dire consequences?" Han responded, "As you mentioned, there are many allegations regarding the nominee. The nominee will clarify these issues during the confirmation hearing, and necessary procedures will follow afterward." Meanwhile, the ruling party attacked independent lawmaker Han Dong-hoon, who has raised concerns about Kim. Democratic Party lawmaker Jeong Jin-wook criticized the opposition for focusing on controversies rather than evaluating the candidates' policy capabilities and expertise. He specifically pointed out that Han Dong-hoon has been using illegal investigative information to attack Kim. When Jeong inquired about Han's claim of being surveilled by the Prime Minister's Office, Han expressed regret but questioned whether the term "surveillance" was appropriate in this context. He assured that measures are being put in place to prevent such incidents from happening again. Jeong also raised concerns about the prosecution's search of a new drug development company's founder, Professor Kang, and a broker identified as Yang, noting that the name of President Lee Jae-myung appeared in forensic search terms. He suggested that there was an attempt to involve the President in a fabricated indictment. He argued, "This is a political investigation and manipulation aimed at wrongfully linking the President, and a thorough investigation is necessary." Jeong also advocated for tax incentives not only for companies involved in the three mega projects but also for workers in strategic industries within mega special zones. In response, Han emphasized the importance of companies relocating to these areas, stating, "Previously, companies were less inclined to move, resulting in limited effects. This time, the relocation of companies is crucial, and we are considering the living conditions for those moving to these areas as part of a comprehensive project." He added that preparations are underway for the introduction of the mega special zone system, although he could not provide definitive details on the extent of corporate benefits. * This article has been translated by AI. 2026-09-11 17:20:00
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Bank of Korea's AI rate-setters keep choosing not to decide SEOUL, September 11 (AJP) — Artificial intelligence can help analyze economic data, but it cannot be relied upon for policymaking because of its susceptibility to bias, a Bank of Korea study showed. The finding emerged from a joint forum the BOK hosted with the Korean Statistical Society on Friday, where researchers described AI systems that could interpret macroeconomic data and simulate rate decisions with fluent, plausible-looking reasoning — but whose errors kept skewing in the same direction no matter how the experiment was adjusted. Kim So-jung of the BOK's Statistical Research Team said building an AI agent system has become relatively straightforward. The harder question, she told the forum, is how much analysts can trust the output as such agents are handed greater autonomy — a question the central bank tested directly on its most consequential decision: where to set interest rates. In the experiment, large language models were fed macroeconomic data and summaries of the U.S. Federal Reserve's Beige Book, then asked to choose whether to raise, hold or cut rates. Their errors were not random, but skewed toward inaction in what researchers called a "hold bias" even when the data pointed elsewhere. BOK researchers then tried out handing different agents different roles and letting them argue it out. Again, it didn't work. The hold bias persisted through role-assigned, multi-agent debate, and in some runs grew stronger. Stretching the discussion from five rounds to 10 or 15 produced no consistent gain in accuracy either. The implication reaches beyond Seoul. A common assumption in multi-agent AI design is that pooling several models, or several instances of one, and letting them check each other will cancel out individual mistakes. The BOK results suggest otherwise when the agents share a foundation model as their errors can be correlated rather than independent so that debate multiplies the same blind spot instead of correcting it. A second BOK project produced a parallel warning. The bank built a system that routes news articles to five specialist AI agents — covering macroeconomics, finance, policy, corporate affairs and geopolitics — before combining their assessments into indicators of economic uncertainty. Tested on roughly 2,800 articles, the system scored F1 accuracy of about 0.75 to 0.81, a respectable but imperfect mark. Kim questioned whether agents drawn from the same underlying model can really be treated as independent experts merely because they were assigned different roles. None of this means the BOK is stepping back from AI. The bank already runs an agent system in production, using it in weekly analysis of its News Sentiment Index to flag what's driving changes in the gauge and cross-check those signals against market data — with analysts reviewing every output and feeding their judgment back into the system's memory. Human-supervised, narrow use case is a long way from letting AI agents debate their way to a rate decision, and Kim said closing that gap will require statistical tools that can identify, explain and control the specific biases AI systems carry — not just measure how often they happen to be right. Other presenters described the same caution from different angles. Song Kyung-ho of Yonsei University warned that AI models used in economic analysis can lose reliability once conditions shift away from what they were trained on, and proposed adaptive agents that detect such shifts and update their own methods in response. Park Se-ho of Hongik University argued that gaps between household survey data and national accounts often reflect real differences in what each dataset captures rather than errors to be smoothed away, and called for diagnosing those "distribution shifts" before adjusting survey weights. Park Mingue of Korea University said transfer learning can help fill gaps in recent data, but only where older and newer data behave similarly enough, and stressed that any new method needs rigorous validation before use. The throughline, as Kim put it, is that the question for policymakers is no longer whether AI can produce an economic judgment — it already can, fluently. It's whether researchers can pin down why that judgment is biased before they let it anywhere near an actual decision. AJP Takeaways - The Bank of Korea found AI's "hold bias" on interest rates persisted, and sometimes grew stronger, even when multiple AI agents debated the decision in different assigned roles. - Adding discussion rounds, from five up to 15, did not consistently improve the AI's rate-decision accuracy. - Researchers attribute the bias to agents sharing a common foundation model, so debate can amplify shared blind spots rather than cancel them out — a caution for any institution building multi-agent AI systems, not just central banks. 2026-09-11 17:10:36 -
Seoul issues new dress code for govt job interviews: come casual SEOUL, September 11 (AJP) - South Korea's government agency in charge of managing the civil service has drawn attention after announcing that applicants who show up for government job interviews wearing neckties will be told to take them off. The Ministry of Personnel Management said Thursday that it will begin strongly discouraging suits at national civil service interviews from October, instead urging applicants to come in casual clothing including jackets, shirts, knitwear, slacks, jeans and sneakers. Under the new guidance, both male and female applicants are advised to avoid suits, while neckties and formal dress shoes are prohibited. Applicants who arrive wearing a tie will be asked to remove it, while those wearing dress shoes will have shoe covers placed over them. The ministry said the unusual measures were necessary because previous efforts to encourage more relaxed interview attire had largely failed. "The Ministry of Personnel Management has recommended 'simple clothing that does not interfere with one's ability to demonstrate one's capabilities, such as everyday clothes and no tie' as interview attire," the ministry said in its notice. "However, despite the recommendation, most applicants continue to attend interviews in suits, creating an unnatural interview atmosphere, while noise from dress shoes has also disrupted the operation of the examinations." The ministry said it was reiterating its call for casual attire to reduce the burden on applicants and allow them to take part in interviews in a more comfortable and natural atmosphere. Its examples of appropriate clothing include jumpers, shirts, knit tops, slacks, cotton pants, jeans, flats and sneakers. Hiking clothes, tracksuits, shorts, sleeveless tops, high heels and slippers are among the items candidates are advised to avoid. The ministry also released AI-generated images showing examples of acceptable interview outfits, including a white T-shirt paired with jeans and a knit top worn with beige trousers. The guidelines will apply to interviews administered by the ministry beginning in October. The Ministry of Personnel Management is South Korea's central government agency responsible for personnel policy for national civil servants. Its responsibilities include recruitment, pay, human resource development, welfare and pensions, as well as ethics and disciplinary policies. It also administers the country's major open competitive examinations for Grade 5, Grade 7 and Grade 9 national civil service positions. Competition for government jobs remains intense in South Korea. This year's Grade 9 national civil service examination drew 108,718 applicants for 3,802 planned openings, producing a competition rate of 28.6 applicants per position. The number of applicants rose 3.4 percent from a year earlier. The Grade 7 examination attracted 25,650 applicants for 668 positions, or 38.4 applicants per opening. The new dress guidelines will first affect some of the country's most competitive government recruitment interviews. A combined 11,903 people applied this year for 381 positions in the Grade 5 civil service examination and the diplomatic candidate selection examination, a competition rate of 31.2 to 1. Their final interviews are scheduled to begin in October. AJP Takeaways - South Korea will discourage suits, neckties and dress shoes at national civil service interviews starting in October. - The Ministry of Personnel Management says most applicants still wear formal attire despite earlier recommendations for casual clothing. - More than 108,000 people applied for this year’s Grade 9 national civil service exam, underscoring the scale of Korea’s government recruitment system. 2026-09-11 17:09:22 -
KOSPI closes below 7,000 as foreign selloff outweighs chip exports SEOUL, September 11 (AJP) - South Korean stocks fell nearly 2 percent on Friday as concerns over oil prices and interest rates led to heavy foreign selling, outweighing strong semiconductor exports. The benchmark KOSPI closed at 6,909.91, down 1.76 percent from the previous session. The index opened 3.29 percent lower at 6,802.50 before recovering part of its losses in afternoon trading. Foreign investors sold a net 2.29 trillion won (US$1.70 billion) of KOSPI shares, while institutions unloaded 1.23 trillion won. Retail investors bought a net 1.87 trillion won, helping the index recover from a drop of more than 3 percent at the open. The KOSPI nevertheless recovered more than 100 points from its opening level as bargain hunting strengthened and oil prices eased from their overnight surge during Asian trading. Brent crude and West Texas Intermediate both pulled back after surging more than 6 percent overnight, though both remained above $100 a barrel. Brent fell about 1.9 percent to $105.62, while WTI slipped 1.4 percent to $101.10. Reports that Middle Eastern officials were seeking a temporary arrangement with Iran over shipping through the Strait of Hormuz helped prices retreat from earlier highs. Easing oil prices took some of the pressure off equities, but concerns over inflation and interest rates remained. The U.S. 10-year Treasury yield hovered near 5 percent, while the 30-year yield reached its highest level in nearly two decades. Investors also remained cautious ahead of the U.S. August consumer price index report due later in the day, with markets pricing in about a 70 percent chance of a quarter-point Federal Reserve rate increase next week. The pressure carried into Seoul's chip sector, though losses narrowed later in the session. Samsung Electronics and SK hynix remained under pressure but recovered from steeper morning losses. Fresh trade data released during the session showed a sharp increase in semiconductor exports, offering some support to chip shares. Samsung Electronics closed down 3.35 percent to 260,000 won, while SK hynix fell 2.05 percent to 1,815,000 won. Semiconductor exports reached $16.48 billion in the first 10 days of September, up 270.1 percent from a year earlier and accounting for 47.1 percent of the country's total exports during the period, according to data released Friday by the Korea Customs Service. Other major KOSPI stocks were broadly lower. SK Square dropped 4.14 percent to 1,088,000 won, and Samsung C&T fell 3.29 percent to 367,000 won. Hyundai Motor lost 1.80 percent to 382,000 won and LG Energy Solution declined 1.64 percent to 359,000 won. Samsung Biologics fell 1.05 percent to 1,408,000 won, while Samsung Life Insurance dropped 1.29 percent to 305,500 won. Samsung Electro-Mechanics edged down 0.29 percent to 1,396,000 won. KB Financial bucked the broader decline, rising 2.02 percent to 176,900 won. Losses also extended to the junior KOSDAQ, which closed at 820.64, down 1.95 percent. Retail investors bought a net 511.8 billion won, while foreign investors sold 312.0 billion won and institutions unloaded 216.0 billion won. The stocks were broadly lower at the close. Biotech company Alteogen, which develops drug-delivery and biosimilar technologies, fell 3.61 percent to 267,000 won. Battery materials holding company EcoPro dropped 3.11 percent to 84,200 won, while its cathode-materials affiliate EcoPro BM slid 6.99 percent to 110,400 won. Robotics shares also weakened. Rainbow Robotics, which develops humanoid, collaborative and mobile robots, fell 2.78 percent to 436,500 won. ROBOTIS, a maker of smart robot actuators and humanoid platforms, finished unchanged at 323,500 won. Semiconductor equipment and component makers were mostly lower. EO Technics, which makes laser equipment used in semiconductor and electronics manufacturing, declined 2.09 percent to 445,500 won. LEENO Industrial, a semiconductor test-component maker, fell 3.46 percent to 66,900 won. Simmtech, which produces printed circuit boards and package substrates for semiconductors, lost 1.72 percent to 131,600 won. ISC, which produces semiconductor test sockets and related testing solutions, edged down 0.26 percent to 190,100 won. Biopharmaceutical company HLB fell 0.79 percent to 31,400 won. The broader risk-off move was not confined to Seoul. Asian stocks also retreated as higher oil prices and rising bond yields kept investors cautious. Japan's Nikkei 225 was down 1.93 percent at 64,011.34. The Shanghai Composite fell 1.18 percent to 3,888.11 at the close, while Hong Kong's Hang Seng Index was down 0.67 percent at 24,787.90. Japanese shares were among the hardest hit, with higher global yields weighing on technology stocks while expectations for tighter Bank of Japan policy added pressure after wholesale inflation accelerated 7.6 percent from a year earlier. Chinese and Hong Kong shares also weakened as investors remained cautious over the global inflation outlook and the risk that elevated energy costs could keep monetary policy tighter for longer. Investors are now awaiting the U.S. August CPI report, which could affect expectations for a Fed rate increase next week. AJP Takeaways - South Korea's KOSPI closed down 1.76 percent at 6,909.91 on Sept. 11, falling back below 7,000 as foreign and institutional investors sold heavily. - Samsung Electronics and SK hynix both fell on Sept. 11, although the two chipmakers narrowed steeper morning losses as South Korea's semiconductor exports showed a sharp year-on-year increase in the first 10 days of September. - Oil prices above $100 and the U.S. 10-year Treasury yield near 5 percent heightened inflation and rate concerns ahead of the U.S. August CPI report and next week's Federal Reserve meeting. 2026-09-11 17:05:47 -
LG AI Research Institute Partners with National Pension Service to Develop AI for Fund Management LG AI Research Institute is collaborating with the National Pension Service to develop artificial intelligence (AI) specialized for pension fund management.On September 11, LG AI Research Institute announced that it signed a memorandum of understanding (MOU) with the National Pension Service at its headquarters in Magok, Seoul, to jointly develop AI for pension fund management.The two parties plan to combine LG AI Research Institute's AI technology with the investment expertise of the National Pension Service to establish AI services tailored for fund management.The first collaborative project will be the development of an 'AI-based Exchange Rate Analysis Service.' LG AI Research Institute will utilize its financial AI agent, 'ExaOne BI,' to analyze macroeconomic indicators, news, research data, and the National Pension Service's data, creating AI-based predictive and analytical models specialized for pension fund management.The National Pension Service aims to enhance the professionalism of investment decisions and operational efficiency by incorporating AI into its investment research and decision-making processes, ultimately seeking to improve long-term investment returns. After validating the applicability of the exchange rate analysis service, they plan to gradually expand the use of AI in various areas of fund management.Both parties are committed to establishing reliable and secure AI services as a key value, aiming to create stable use cases for AI in the field of fund management.Lee Hwa-young, head of the business development division at LG AI Research Institute, stated, “The financial AI technology of LG AI Research Institute has already been recognized by numerous global investors. We will create a model case for leading the use of AI in the public sector.”* This article has been translated by AI. 2026-09-11 17:00:20