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KakaoMap Launches Dedicated Map for Oktoberfest Seoul 2026 Kakao's mapping service, KakaoMap, will provide a digital map for the 'Oktoberfest Seoul 2026' event.Kakao announced on the 11th that it has collaborated with Deutsche Oktoberfest Korea to offer a dedicated map of the 'Oktoberfest Seoul 2026' festival on KakaoMap.'Oktoberfest Seoul 2026' is designed to allow attendees to experience the traditions and culture of Germany's iconic folk festival. The event will take place from September 12 to 21 at the Cultural Storage Base in Mapo-gu, Seoul.This festival is the first in Korea to receive official approval from the city of Munich, Germany, and will feature ten German beer brands, including Paulaner and Kronbacher.The festival-specific map on KakaoMap will provide essential information for attendees, including the layout of the venue, booth locations, menus, and facilities.KakaoMap will also offer a community feature called 'On-Site Talk.' This function allows users to share real-time information and experiences related to the festival. Attendees can exchange information about booth wait times and the availability of popular menu items.Users can also share reactions to major programs, such as live performances by authentic German bands, through On-Site Talk.A KakaoMap representative stated, "The dedicated festival map is a service designed to help attendees easily access key information and enjoy the event more conveniently. We will continue to enhance our services in collaboration with various events to enrich users' experiences on-site."* This article has been translated by AI. 2026-09-11 16:52:00 -
KDRT Second Team Arrives in Nepal for Flood Relief Efforts The second team of the Korea Disaster Relief Team (KDRT) arrived in Nepal on September 11 to assist with recovery efforts following severe flooding. Yoon Joo-seok, the designated relief leader and a diplomat at the South Korean Embassy in the United States, is expected to arrive on September 12.The Ministry of Foreign Affairs stated that until Yoon's arrival, Lee Gyu-ho, the Director of the Development Cooperation Bureau, will serve as the acting relief leader. Lee previously led the first KDRT team, which concluded its mission on September 2. According to officials, the second team consists of two members each from the Ministry of Foreign Affairs, the National Fire Agency, the Korea International Cooperation Agency (KOICA), and a medical team.The ministry added that as the Nepalese government transitions from search and rescue to reconstruction and recovery, the KDRT second team will coordinate with Nepalese military authorities to conduct search and rescue operations within their capacity.Furthermore, the ministry emphasized plans to conduct preliminary investigations related to reconstruction and recovery in collaboration with the Nepalese government and international organizations to outline the South Korean government's contributions to Nepal's rebuilding efforts.Meanwhile, the first KDRT team is scheduled to return to South Korea on a flight from Nepal, arriving early on September 12.* This article has been translated by AI. 2026-09-11 16:52:00
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Korea pledges policy funds for Uzbek regional partnerships SEOUL, September 11 (AJP) - South Korea will put state financing behind partnerships between its local governments and Uzbekistan's regions, Deputy Prime Minister Koo Yun-cheol told a forum in Seoul on Friday, five days before the city hosts South Korea's first summit with the five Central Asian nations. Speaking at the same event, Uzbek Deputy Prime Minister Jamshid Khodjaev put bilateral trade at nearly $2 billion last year and said the two governments aim to raise it to $5 billion. Korean investment in Uzbekistan has passed $8 billion in recent years, he added, and more than 700 companies with Korean capital now operate in the country. Koo, who is also minister of finance and economy, named two of the financing tools the government would link to regional projects, the Economic Development Cooperation Fund and the Supply Chain Stabilization Fund. The government would also "take the lead in resolving any difficulties" the regions ran into on the ground, he said. The Economic Development Cooperation Fund (EDCF), created in 1987, provides long-term, low-interest loans to developing countries. The finance ministry owns the fund, and the state-run Export-Import Bank of Korea manages it. The bank also runs the supply chain fund, launched in 2024 to back South Korean companies in industries the government considers vital to stable supply chains. Uzbekistan is already the EDCF's largest partner in Central Asia. It accounts for about 86 percent of the fund's approvals in the region, and a framework agreement signed in 2024 allows up to $2 billion in EDCF loans to the country through 2027, according to the Export-Import Bank of Korea (Korea Eximbank). Koo said local governments were already producing results. He cited cooperation on special economic zones between Incheon and Uzbekistan's Fergana Region, industrial workforce partnerships between South Gyeongsang Province and Tashkent Region, and smart agriculture initiatives linking South Chungcheong Province with Namangan Region. Incheon and Fergana have been friendship cities since 2022, according to the Incheon city government, and Incheon Mayor Park Chan-dae met Fergana Gov. Khayrullo Bozorov on the sidelines of the forum. Park also chairs the Governors Association of the Republic of Korea, which organized the event with the Uzbek Embassy in Seoul. Delegations came from nine of Uzbekistan's 14 provincial-level administrations, including the governors of Fergana, Namangan and Tashkent regions, according to the Governors Association of the Republic of Korea (GAROK). Uzbekistan is divided into 12 regions, the autonomous Republic of Karakalpakstan and the capital, Tashkent. "When the central government's diplomacy opens the road, exchanges between local governments get people traveling along it," Park said in a statement released by GAROK. South Korean and Uzbek local governments have formed about 30 sister-city and other partnerships, Park told the forum. He proposed identifying at least one project for each of them and creating a single channel for investment information and consultations. Incheon and Fergana have already agreed to form a working group that will review project progress every quarter, he said. Koo built his speech around Homer's Odyssey, comparing the hero's voyage through storms to a world economy facing geopolitical fragmentation, the artificial intelligence revolution and the restructuring of supply chains. If the central government sets "the broad direction," Koo said, "the true navigators who steer the ship and breathe vitality into local communities are the local governments and governors of both nations." Seoul plans to use the summit to expand economic cooperation with Central Asia sharply, he said, concentrating on critical mineral supply chains, energy and bio-industry, and transportation, logistics and human resources development. "Naturally, Uzbekistan will be at the center of this initiative," Koo said. Khodjaev tied his pitch to economic reforms under President Shavkat Mirziyoyev. Uzbekistan rose 14 places in this year's Index of Economic Freedom and entered the "moderately free" category for the first time, he said. The index, published by the Washington-based Heritage Foundation, ranks the country 86th, according to Uzbekistan's Ministry of Investment, Industry and Trade. He proposed five areas for Korean investment and asked for joint ventures in the first of them, critical minerals. Uzbekistan holds rich reserves of copper, gold and tungsten, he said, and plans to raise its critical mineral extraction and processing to $1 billion while bringing in technology for enrichment and deep processing. In technology, he pitched the incentives Tashkent offers. Information and communications technology companies pay no corporate tax until 2040 and receive simplified visas, Khodjaev said, and a program called Zero Risk covers their operating expenses. More than 12,500 such companies work in Uzbekistan, 1,500 of them foreign, employing over 100,000 specialists. He invited Korean firms to open software development, information technology services and business process outsourcing centers across the regions, and named transport and logistics, tourism and health care, and agriculture as the other three areas. Uzbekistan exports 2 million tons of fruit and vegetables a year, he said, and aims by 2030 to double food production and triple the value-added share of its exports. Khodjaev also pointed to Korean projects already running. High-speed trains built by Hyundai Rotem, the first Korean-built high-speed trains sold overseas, began service this year between Tashkent and Khiva. Incheon International Airport Corporation is modernizing Urgench International Airport and taking part in building a new airport in Tashkent, and Khodjaev thanked Korea Eximbank for consistently backing Uzbek projects. The next step, he said, is to "expand this experience to the regional level and attract new companies and local entrepreneurs into our cooperation." Work has begun on a portfolio of joint projects for each region, he added. The governors then made their own pitches. Bozorov said 48 companies with Korean capital operate in Fergana, whose trade with South Korea reached $70 million in the first half of the year. The region is targeting $1.5 billion in investment involving more than 400 enterprises this year, he said, and wants more Korean participation in smart agriculture, electronics and auto parts. Tashkent Region Gov. Zoyir Mirzayev said 66 companies with Korean capital operate in his region and its trade with South Korea has passed $50 million. About 300 meetings and negotiations with foreign investors this year have produced investment agreements worth more than $2 billion, he said, naming industrial development, pharmaceuticals and agricultural processing as openings for Korean companies. About 150 people filled the conference hall at the JW Marriott Dongdaemun Square hotel, and some who arrived could not get in. Jung Eui-hye, deputy minister for political affairs at the Ministry of Foreign Affairs, cast the regional track as the next stage of a relationship rooted in history. Uzbekistan is home to Central Asia's largest ethnic Korean community, she noted. Many are descendants of Koreans whom Joseph Stalin deported from the Soviet Far East to Central Asia in 1937. The two countries upgraded their relationship to a special strategic partnership in 2019. "The stage for this cooperation must now expand beyond central governments to encompass provinces, cities, and the everyday lives of our citizens," Jung said. She added that leaders on both sides shared a background in local administration. President Lee Jae Myung served as mayor of Seongnam and governor of Gyeonggi Province before taking office, and Mirziyoyev governed Jizzakh and Samarkand regions before becoming prime minister in 2003. Koo made a similar point, saying Mirziyoyev had voiced deep trust in local governments' ability to deliver, drawing on his own years as a governor. Jung said Mirziyoyev's upcoming state visit to South Korea would add substantial depth to bilateral relations. The Korea-Central Asia Summit will be held in Seoul on Sept. 16-17, with the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan confirmed to attend. GAROK plans to carry the forum's results to the third Korea-Central Asia Local Government Cooperation Forum, to be held in Samarkand, Uzbekistan, in November. Gyeongju has proposed hosting the fourth edition next year, building on friendship-city ties with Samarkand that date to 2013. 2026-09-11 16:51:16 -
Indoor Air Quality Exceeds Recommended Standards in Some New Apartments in Jeonnam Indoor air quality inspections conducted before move-in at some new apartment complexes in Jeonnam revealed that levels exceeded recommended standards, prompting authorities to guide remediation measures.The Jeonnam Health Environment Research Institute announced that it assessed the management of indoor air quality in new apartment complexes ahead of occupancy.This inspection was carried out in accordance with the Indoor Air Quality Management Act to ensure proper management of indoor air quality and to prevent sick building syndrome among residents.New apartment buildings can emit various pollutants from construction materials, adhesives, paints, and finishing materials, making pre-occupancy air quality management crucial.The institute focused on key indoor air pollutants, including formaldehyde, benzene, toluene, ethylbenzene, xylene, styrene, and radon, to determine if levels exceeded recommended standards.The inspection also evaluated whether measurement processes and management procedures complied with relevant standards.Results indicated that some complexes and units exceeded the recommended indoor air quality standards.The institute notified the relevant local governments and construction companies, advising them to implement remediation measures such as bake-out to reduce indoor pollutant concentrations.However, the report did not disclose the total number of complexes and units inspected, the names of complexes that exceeded standards, or the specific exceedance levels for each pollutant.Lee Jeong-il, head of the Environmental Investigation Division at the Jeonnam Health Environment Research Institute, stated, “We will do our best to ensure that citizens can move in comfortably and without concerns about sick building syndrome through continuous inspections and management.”Bake-out involves raising the indoor temperature of new buildings to a certain level to promote the release of volatile pollutants remaining in construction materials and finishes, followed by adequate ventilation to expel them. Sufficient ventilation and proper indoor air quality management before moving into new apartments can help reduce substances that cause sick building syndrome.* This article has been translated by AI. 2026-09-11 16:48:00
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China's New Energy Vehicle Sales Exceed 60% for Two Consecutive Months In August, the sales share of new energy vehicles (electric and hybrid cars) in China reached 60.6%, marking the second consecutive month above 60%.According to data released by the China Association of Automobile Manufacturers, total vehicle sales in China for August were 2.71 million, a 5.1% decrease from the previous year. Of these, new energy vehicle sales amounted to 1.64 million, representing a 17.8% increase year-on-year. The share of new energy vehicles in total new car sales was 60.6%. Cumulatively, vehicle sales from January to August totaled 20.31 million, down 3.8%, with the share of new energy vehicles at 52.4%.The association stated, "The sales share of new energy vehicles has exceeded 60% for two consecutive months, setting a new monthly record, while the cumulative monthly sales share has surpassed the 50% milestone for over two months, solidifying the dominant position of new energy vehicles."In August, China exported 1.01 million vehicles, a 65.3% increase from the previous year. Cumulatively, vehicle exports from January to August reached 7.15 million, up 66.7%. New energy vehicle exports in August were 520,000, a 130% increase year-on-year, while internal combustion engine vehicle exports were 480,000, a 25% rise. Cumulatively, new energy vehicle exports totaled 3.43 million, up 120% from the same period last year, while internal combustion engine vehicle exports reached 3.71 million, a 34.7% increase.The association noted, "China's vehicle exports have exceeded 1 million units for three consecutive months, stabilizing the industry as a whole. With oil prices remaining high this year, demand for Chinese new energy vehicles continues to rise." However, it also pointed out that the domestic market remains sluggish, with monthly domestic sales declining by over 20% year-on-year for five consecutive months.* This article has been translated by AI. 2026-09-11 16:48:00
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Kakao Integrates AI Strategy into KakaoTalk for Enhanced Commerce and Services Kakao is positioning KakaoTalk as the core service of its artificial intelligence (AI) strategy. With nearly 50 million users, the company aims to connect actual services such as commerce, reservations, and payments, allowing AI to translate user requests into actions.As of September 11, industry sources indicate that Kakao is expanding the integration of AI with key services like commerce, reservations, and payments through KakaoTalk.Kakao is broadening its product range to include fresh produce and home appliances while also utilizing agentic AI to link frequently used areas such as commerce, reservations, travel, and payments to actual service usage.The decision to center KakaoTalk in its AI strategy is seen as a way to connect its large user base to real service transactions. By applying AI within KakaoTalk rather than through a separate app, the company can accelerate service expansion and facilitate connections with existing businesses in advertising, commerce, and payments.Changes are already evident in commerce. Kakao's flagship commerce service, Gift Giving, has seen growth not only in sending products to others but also in self-purchases.In the first quarter of this year, the transaction volume for self-purchases in Gift Giving increased by 53% compared to the same period last year, while the second quarter saw a 39% rise. The total transaction volume for Kakao's Talk Business commerce, including Gift Giving and Talk Deals, reached 2.7 trillion won in the second quarter, marking a 9% increase year-on-year. Kakao is also enhancing its product offerings, focusing on high-demand categories like fresh produce and home appliances.In line with this, Kakao has recently begun hiring logistics personnel for direct purchasing of fresh produce. These positions will handle demand forecasting, ordering, inventory management, shipping, delivery, and claims response. Kakao has stated that this hiring is not aimed at expanding into early morning delivery or its own logistics business but is intended to improve the efficiency and sophistication of existing fresh produce delivery operations.A Kakao representative said, "We have already been directly purchasing and delivering some fresh produce, and this hiring is part of an organizational restructuring to enhance efficiency and operational sophistication in related tasks."Kakao is leveraging KakaoTalk as a central channel to connect AI with actual services. In its second-quarter earnings report, the company announced plans to apply agentic AI in frequently used areas such as commerce, reservations, travel, and payments. This approach goes beyond merely answering user inquiries; it aims to understand intent and context to facilitate actual service usage.Kakao has already integrated Gift Giving, KakaoMap, Talk Calendar, and Melon with 'ChatGPT for Kakao' and is expanding its connections with external businesses through Kakao Tools. The government’s ongoing 'Everyone's AI' initiative also utilizes KakaoTalk as a primary access point instead of a separate app.Kakao's AI strategy focuses not only on model performance competition but also on connecting its established KakaoTalk user base with existing services in commerce and payments. The goal is to enhance service delivery from finding user-intended services to facilitating orders, reservations, and payments, thereby increasing actual service usage and transactions within KakaoTalk.As the structure of AI connecting actual service usage within KakaoTalk becomes established, it is expected to broaden the intersection of commerce, advertising, payments, and AI in existing businesses.* This article has been translated by AI. 2026-09-11 16:40:10
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Experts from China's National Museum Visit Gwangjin, Home of Goryeo Celadon Cultural heritage experts from China's National Museum visited Gwangjin, a key production site for Goryeo celadon, to examine research and preservation efforts related to the pottery.The Gwangjin County government announced that four experts from the China National Museum visited the Goryeo Celadon Museum in conjunction with their attendance at a conference hosted by the National Museum of Korea.This visit was part of a five-day academic exchange program held from September 7 to 11, focusing on strengthening cooperation in museum cultural heritage protection.The delegation included Wang Lizhi, director of the Cultural Relics Protection Institute; Wang Kai, head of the Academic Conference Division; Lei Lei, deputy researcher at the Mineral Cultural Relics Protection and Restoration Institute; and Wang Keqing, deputy researcher at the Collection Inspection and Analysis Institute.These experts specialize in cultural heritage preservation, restoration, and scientific analysis, and they visited major museums to observe the preservation and restoration systems and research activities in South Korean institutions.During their visit to the Goryeo Celadon Museum, located in Gwangjin, a prominent production area for celadon, the group toured the exhibition facilities, storage areas, and preservation management facilities.Museum officials provided insights into the production and distribution of Gwangjin celadon, the excavation process of celadon kiln sites, research achievements, and the current status of artifact preservation and management.Experts from both sides exchanged views on the condition assessment of ceramic artifacts, restoration methods, preventive conservation management, and the management and utilization of scientific analysis data.Notably, the Chinese experts expressed interest in traditional materials and new materials used in the preservation and restoration of ceramic artifacts, as well as the potential applications of 3D scanning technology in cultural heritage research and preservation.Gwangjin County plans to expand its exchange base with domestic and international museums and research institutions, not only in Goryeo celadon research but also in the field of cultural heritage preservation and restoration.Jeong Jeong-hee, director of the Goryeo Celadon Museum, stated, “The inclusion of the Goryeo Celadon Museum in the domestic museum visit schedule, organized around the National Museum of Korea conference, signifies the recognition of the cultural heritage value of Gwangjin celadon and the museum's research and preservation activities by experts both domestically and internationally.”She added, “We will expand exchanges and cooperation with museums and research institutions at home and abroad to promote the value of Gwangjin celadon.”Meanwhile, Gwangjin is known as a major production site for celadon during the Goryeo Dynasty, with numerous celadon kiln sites distributed throughout the area. The Goryeo Celadon Museum conducts excavation research on kiln sites, studies unearthed artifacts, and engages in exhibitions, education, and preservation management, while also continuing academic exchanges to highlight the historical and scholarly value of Gwangjin celadon.* This article has been translated by AI. 2026-09-11 16:40:00
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Yongsan Park Negotiations: Urgency or Inaction? House prices have continued to rise, but negotiations for supply have stalled.Minister of Land, Infrastructure and Transport Kim Yoon-deok and Seoul Mayor Oh Se-hoon met again on the 26th of last month, just six days after their initial meeting on the 20th. They aimed to find land for housing in Seoul. Since their second meeting, 16 days have passed, and apartment prices in Seoul have risen for 83 consecutive weeks, poised to surpass the 85-week record set during the Moon Jae-in administration. The urgency for supply remains, yet negotiations have halted since the nomination of a new ministerial candidate.Park Land Excluded from August 13 Measures, Revisited the Same EveningJust a month ago, the Blue House was in a hurry. Although Yongsan Park was not included in the August 13 supply measures, that evening, Chief Economic Advisor Ha Joon-kyung appeared on CBS Radio's 'Park Jae-hong's One-on-One Show' and advocated for using park land for housing supply. The intention was to create spaces for young people to live, marry, and raise children. The Chief Advisor's strong push, even in the face of remaining disagreements with the Seoul city government, indicated a firm commitment.Subsequently, a rationale emerged that building homes in part of the park could allow for the removal and purification of contaminated soil. The Ministry of Land also indicated it would consider the entire park beyond just the Yongsan Children's Garden. This demonstrated a willingness to find land for supply, even amid controversy over park usage.The negotiations, prompted by the Blue House, also yielded alternatives. Following Camp Kim and surrounding public land, the Tancheon Water Recycling Center was mentioned, and easing regulations on reconstruction and redevelopment became part of the agenda. After the second meeting, Minister Kim stated, "There was never a requirement that it must be Yongsan Park." He emphasized the importance of providing homes for young people and newlyweds.If that is the case, it is time to assess where homes can be built more quickly between the park and alternative sites, and what regulations need to be relaxed. Although a resolution is still far off, there are now materials to continue negotiations. Differing positions on Yongsan Park should not halt discussions on other supply options.Yongsan is not a site where homes can be built immediately once land is secured. According to a report by Herald Economy based on Defense Ministry data, the case of Camp Kim shows that purification work took about five years due to interruptions from cultural heritage investigations. Each site must be evaluated for contamination levels, purification duration, and costs. If the land takes a long time to clean, other supply methods must also be explored. With so much work remaining, there is a pressing need to act swiftly.Kim Yoon-deok is Still the MinisterWhile the government had previously shown reluctance to ease regulations proposed by the Seoul city government, at the Yongsan Park negotiation table, it appeared ready to concede significantly to secure supply land. However, after the nomination of Hong Ji-seon as the ministerial candidate on the 30th of last month, that urgency seemed to melt away. There has been no communication about when the next meeting will occur or what alternative sites have been considered. The urgency felt during their six-day turnaround has vanished.Although a candidate has been nominated, the minister has not changed. The person negotiating with the Seoul city government remains Minister Kim Yoon-deok. If he has stated that supply is urgent, he should continue to meet directly to narrow differences and reach conclusions on points of agreement during his remaining term.On the 3rd, after the candidate's nomination, Minister Kim also explained the direction of public institution relocations during a joint briefing at the Government Seoul Office. He stated that he would promote "speedy relocations." He remains a sitting minister who is still calling for speed in other policies. Has the urgent supply negotiation now become the responsibility of the next minister?It may take time to determine supply land and adjust regulations. The longer it takes, the more follow-up negotiations should continue. The government met again just six days after confirming differences in positions during the first meeting. If they are now waiting for a ministerial change, it raises questions about what was so urgent at that time.The Blue House Must Take Responsibility After the Personnel ChangeThe Blue House bears a heavier responsibility. It was the Blue House that pushed for park usage despite opposition from the Seoul city government and decided to replace the negotiating minister. If personnel changes were made, they should have ensured that ongoing supply negotiations did not break off. The necessity for supply emphasized by the Chief Advisor on air should not hinge on the fate of a single minister.The government has asked the public to wait with announcements of housing supply. However, if discussions on land are blocked by a ministerial change, what can the public trust regarding the timelines for construction and occupancy that will be presented later? The credibility of supply promises comes not from the voice at the announcement but from the attitude taken in continuing the work afterward.The Blue House must clarify whether it intends to maintain its policy on utilizing Yongsan Park. If it does, it should urge Minister Kim to continue negotiations with the Seoul city government. If the policy has changed, it should explain the reasons and pursue alternatives. The Seoul city government must also specify the scale and potential timeline for the supply of the alternatives it has proposed. In either case, waiting for the next minister to arrive is not an option.Resuming negotiations will not result in homes appearing overnight. However, delaying negotiations today is also not acceptable. The supply timeline that the government promised to shorten will only extend from such meetings and decisions.The young people and newlyweds that the Blue House cited as reasons for utilizing Yongsan Park are still searching for homes. As they wait for a new minister, lease expiration dates approach, and monthly rent continues to be deducted. Minister Kim Yoon-deok must return to the negotiation table. The circumstances that were deemed urgent have not changed.* This article has been translated by AI. 2026-09-11 16:40:00
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KRX to Host 'Value-Up Week' to Support Low PBR Companies The Korea Exchange (KRX) is set to hold a series of informational sessions aimed at enhancing corporate value for listed companies on the KOSPI and KOSDAQ. This initiative comes ahead of the first public announcement of low price-to-book ratio (PBR) companies in November, designed to assist listed firms in timely planning for value enhancement.The KRX announced that it will conduct 'Value-Up Week' from November 11 to 18, featuring six sessions across the country, starting in Seoul and continuing in Daegu (November 14), Busan (November 15), Pangyo (November 16), Daejeon (November 17), and Gwangju (November 18). Approximately 600 representatives from KOSPI and KOSDAQ listed companies, including disclosure officers and responsible personnel, are expected to attend.According to guidelines established the previous day regarding the selection of low PBR companies, the KRX plans to announce these companies for the first time on November 2. Companies in the securities market will be identified if their cumulative PBR over the last three years (six half-years) falls within the bottom 25% of their industry, while those in the KOSDAQ will be identified if they fall within the bottom 10%.From November 14, listed companies will be able to check their historical PBR values through a new PBR inquiry service, allowing them to assess whether they qualify for the low PBR designation. If they disclose a value enhancement plan that includes PBR improvement by October 22, they will be exempt from the low PBR designation for one year.The sessions will provide guidance on the necessary preparations for low PBR companies, including improvements to the designation system and disclosure writing methods. Various programs aimed at supporting corporate value enhancement will also be introduced.Specifically, the KRX will explain key improvements related to corporate value enhancement programs, while the Boston Consulting Group (BCG) will present recommendations for enhancing the value of low PBR companies in Korea. Support programs for listed companies, including investor relations (IR) programs from the Korea IR Association and disclosure consulting from accounting firms, will also be highlighted.Additionally, to enhance close support for companies and ensure compliance with disclosure requirements, small group roundtable discussions or one-on-one meetings with companies will be held after the sessions.The KRX stated, "We will continue to actively support companies that fall under low PBR, high dividend, and special listing categories to understand the improvements in the system and prepare in advance."* This article has been translated by AI. 2026-09-11 16:40:00
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Chunmoo moves to the arms mainstream on the Balkan front SEOUL, September 11 (AJP) - Croatia’s decision to buy 18 South Korean K239 Chunmoo multiple rocket launchers on top of its earlier order of HIMARS from the United States reflects a broader recalibration in the Western Balkans, where military modernization has accelerated since Russia’s invasion of Ukraine. Hanwha Aerospace signed a 411.8 million euro ($478 million) contract with the Croatian Ministry of Defence on Thursday to supply 18 Chunmoo launchers, ammunition carriers, fire direction command vehicles and integrated logistics support. The package includes multiple types of precision-guided rockets for short-, medium- and long-range missions, as well as training and lifecycle support. Deliveries are scheduled to continue through 2030. The deal makes Croatia the fourth European country to select Chunmoo after Poland, Estonia and Norway, further expanding the South Korean system’s presence in a European market seeking to rebuild artillery and long-range strike capabilities. The Croatian government approved the HIMARS procurement in December 2024 after receiving a U.S. letter of offer and acceptance worth about $290 million before value-added tax. The U.S. State Department had earlier approved a possible package of eight launchers and associated weapons and support worth up to $390 million. “Chunmoo complements the contracted HIMARS systems, increases the Croatian Armed Forces’ range and firepower, diversifies supply routes and further strengthens deterrence,” Prime Minister Andrej Plenković said. The decision suggests that Zagreb does not see Chunmoo simply as a cheaper competitor to HIMARS, but as an additional layer in its long-range precision-strike arsenal. The procurement also sits within a broader military buildup in the Western Balkans that began well before Russia’s invasion of Ukraine but has accelerated as the war reshaped European defense planning. Serbia emerged as the region’s early mover, stepping up modernization from around 2015 and investing in combat aircraft, air defense, armored vehicles, drones and electronic warfare. Unlike NATO members in the region, whose modernization is shaped largely by alliance requirements and interoperability, Belgrade has pursued a more autonomous strategy built around diversified suppliers, including Russia, China, France and Israel. Croatia has followed a different path. As a NATO and European Union member, its modernization remains anchored in Western systems and alliance standards, but force planning has also increasingly reflected Serbia’s expanding air, missile and armored capabilities. Zagreb has acquired Rafale fighters, Bradley infantry fighting vehicles and Black Hawk helicopters and has ordered Leopard two tanks, Bayraktar drones and HIMARS alongside Chunmoo. The result is not an imminent return to the conflicts of the 1990s, but an increasingly complex regional security environment in which modernization by one state can alter the calculations of its neighbors. For Croatia, operating both HIMARS and Chunmoo therefore adds not only firepower but also flexibility and redundancy as the regional military balance shifts. Chunmoo can carry two rocket pods simultaneously and can load different types of precision-guided munitions on the same launcher, allowing commanders to tailor weapons to different targets and ranges. Hanwha describes the system as capable of integrating a family of precision-guided rockets with national command-and-control systems. HIMARS, by comparison, carries a single pod containing six Guided Multiple Launch Rocket System rockets, or other compatible longer-range missiles depending on configuration. Croatia’s defense ministry has cited NATO compatibility, price, firepower and a relatively short delivery schedule among the reasons for choosing Chunmoo, with the full package expected to be delivered within 24 to 36 months. “It was chosen because it is compatible with NATO standards, affordable, much more lethal and meets all our needs,” Croatian Defense Minister Ivan Anušić said in an interview with Croatian public broadcaster HRT. The ability to deliver weapons quickly has become an increasingly important factor in Europe, where countries are racing to rebuild inventories and expand long-range strike capacity following Russia’s invasion of Ukraine. “Hanwha’s ability to supply systems quickly is becoming a competitive advantage as Europe’s rearmament demand translates into actual force acquisition,” Kang Tae-ho, a defense analyst at DS Investment & Securities, said. Europe’s experience since the war in Ukraine has also highlighted the importance of securing access to ammunition and reducing dependence on overseas supply chains. DS Investment & Securities pointed to Hanwha’s push with Poland’s WB Group to establish local production of 80-kilometer-class guided rockets as another factor strengthening Chunmoo’s position in Europe. Hanwha and WB Group agreed in 2024 to pursue a joint venture for local production of CGR-80 guided missiles in Poland. Hanwha has already sold Poland 290 Chunmoo launchers along with 80-kilometer and 290-kilometer-range guided missiles. “Securing an ammunition production base in Europe is an important factor in easing concerns over ammunition sovereignty and strengthening Chunmoo’s export competitiveness,” Kang said. According to Army Recognition, citing Euractiv, the United States blocked the integration of U.S.-made GMLRS rockets into France’s planned Foudre and Thundart artillery systems. The decision came as France faces a looming gap in rocket artillery capability, with its existing launcher fleet expected to shrink to just nine operational systems before their retirement between 2027 and 2030. Without access to U.S.-made guided rockets, the two French programs could face higher development risks, costs and delays. It shows that access to widely used U.S. munitions does not necessarily mean foreign-developed launchers can integrate them. U.S. approval remains necessary for the final configuration and sale of HIMARS-related weapons, giving Washington a degree of control over who can use the GMLRS ammunition ecosystem and on which launch platforms. Zagreb is not only expanding its firepower but also avoiding dependence on a single launcher and ammunition ecosystem by operating both HIMARS and Chunmoo. The Croatian Chunmoo package includes a separate contract with Poland’s WB Electronics for the delivery, installation and integration of a command-and-control system, while Hanwha provides the launchers and rocket ammunition. An Eugene Investment & Securities report described the emerging structure as one linking Hanwha’s launchers and ammunition with Poland’s WB command-and-control technology and Croatian industrial cooperation. “Chunmoo is expanding, like the K9, into a common artillery platform and supply chain in Europe,” Eugene analyst Yang Seung-yoon said. The development could be significant for Hanwha’s next stage of expansion in Europe. Until recently, competition between Chunmoo and HIMARS was often framed as a contest in which governments would choose one system over the other. Croatia shows that the market may not necessarily work that way. For countries facing both a deteriorating security environment and growing concerns about ammunition availability, supplier concentration and delivery times, buying two systems can itself become part of the deterrence strategy. DS Investment & Securities sees potential for further Chunmoo sales not only in countries looking to replace aging Soviet-era multiple rocket launchers, such as Romania and Bulgaria, but also among European states already pursuing HIMARS, including Lithuania, Latvia and Sweden. AJP Takeaways - Croatia is buying 18 Chunmoo launchers despite already ordering HIMARS. - Chunmoo offers faster delivery, flexible firepower and a second ammunition supply chain. - The deal expands Hanwha Aerospace’s foothold in Europe as demand for long-range fires grows. 2026-09-11 16:38:09