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  • South Korean team returns from UAE after assessing Hormuz deployment conditions
    South Korean team returns from UAE after assessing Hormuz deployment conditions SEOUL, September 10 (AJP) - A South Korean team sent to the United Arab Emirates to assess conditions for a possible military deployment to the Strait of Hormuz is set to return home Thursday, as Seoul weighs its response to mounting U.S. pressure for a military contribution. The team, which departed for the United Arab Emirates over the weekend, completed its assessment and is expected to return through Incheon International Airport, according to sources familiar with the matter. The delegation is understood to have inspected military bases and ports that could be used by South Korean forces, along with local conditions for maintenance, logistics and other operational support. The UAE, located close to the Strait of Hormuz, hosts Al Dhafra Air Base, one of the major U.S. military installations in the Middle East. With Seoul considering the P-8A Poseidon maritime patrol aircraft as one of the most likely assets for a possible contribution, the team is believed to have examined conditions for operating and supporting the aircraft from facilities in the UAE. Officials from the Ministry of National Defense as well as working-level officials from the Foreign Ministry were reportedly part of the delegation. Under the Defense Ministry's guidelines governing overseas military deployments, a fact-finding team sent to a potential deployment area is required to prepare a report on its activities after returning and submit the findings to the National Security Council. That process, however, does not mean Seoul is moving immediately toward a decision to deploy forces. "The fact-finding team was dispatched to assess the regional situation and security conditions, and this assessment does not assume that an actual deployment will take place," a Defense Ministry official said earlier. If discussions advance, the issue could be raised at the NSC as early as next week, but the government continues to take a cautious approach. President Lee Jae Myung's return from a state visit to France could also help clarify the government's position on a possible deployment. The deliberations come as U.S. President Donald Trump has stepped up public pressure on South Korea over its level of contribution to U.S.-led efforts related to Iran and the Strait of Hormuz. In a Truth Social post on Aug. 16, Trump claimed he had asked Lee whether South Korea would join U.S. efforts to denuclearize Iran and received a "No thanks!" response. Requests from Washington for South Korean involvement in the Hormuz mission are understood to have increased through multiple diplomatic and defense channels following Trump's remarks. But the increased U.S. pressure has not necessarily pushed Seoul closer to deployment. The Defense Ministry has also rejected speculation that Washington asked Seoul to send forces before the U.S. midterm elections in November. A ministry official previously said reports that the United States had set a deadline for South Korea to deploy military assets to the Strait of Hormuz were "not true." The issue could surface again during upcoming high-level talks between the allies. South Korean and U.S. defense officials are discussing holding their second-half Korea-U.S. Integrated Defense Dialogue, or KIDD, in Busan next week. While a South Korean contribution to the Strait of Hormuz is not traditionally an alliance issue handled through the KIDD, the possibility that Washington could raise the matter during the talks cannot be ruled out. AJP Takeaways - South Korean team returns from UAE after assessing a possible Hormuz deployment. - Seoul is considering P-8A Poseidon aircraft, but no deployment decision has been made. - The issue could reach the NSC and next week’s Korea-U.S. defense talks. 2026-09-10 15:02:35
  • Shinsegae Considers Chuncheon for AI Data Center Investment
    Shinsegae Considers Chuncheon for AI Data Center Investment Jung Yong-jin, chairman of Shinsegae Group, has identified Chuncheon, Gangwon Province, as a strong candidate for its future artificial intelligence (AI) data center business. This comes as Gangwon Province confirmed ongoing investment discussions with Shinsegae and initiated efforts to expand the power grid, a key requirement for the data center. However, Shinsegae has not yet finalized the site, meaning further steps, including selecting a business operator and negotiating power supply, remain.According to industry sources, Gangwon Province and Korea Electric Power Corporation (KEPCO) signed a memorandum of understanding on September 9 to promote the 'Gangwon AI Data Center.' The two parties agreed to collaborate on building a national power grid to enhance the data center's power infrastructure and ensure stable electricity supply. In March, Shinsegae entered into an agreement with the U.S. AI company ReflectionAI to construct a 250 MW AI data center in South Korea, aiming to establish a 'full-stack AI factory' that provides cloud services and customized AI solutions.One of the most discussed potential sites is the Chuncheon Energy Cluster. Governor Woo Sang-ho stated at a press conference on September 7, "Shinsegae is exploring investment opportunities in the Chuncheon energy district, and we are meeting regularly to discuss this." However, he cautioned that no final decision has been made yet.Previously, Shinsegae and ReflectionAI reportedly submitted a letter of intent to invest in the Chuncheon Energy Cluster, which is designed to accommodate up to 300 MW of power demand across eight data center plots. This aligns with Shinsegae's plan for a 250 MW data center.Utilizing deep water from the Soyanggang Dam for cooling the data center is also seen as an advantage. This could reduce the power needed to cool servers and GPUs, making it a favorable condition for an AI data center that must consider both power supply and cooling costs.Internally, the significance of the data center project is growing within Shinsegae. Shinsegae Property is responsible for site acquisition, and Jung Yong-jin was appointed as co-CEO of Shinsegae Property in June. The company plans to integrate AI transformation across its retail operations, including product sourcing, logistics, inventory, and customer management, alongside the data center development.However, some voices caution against assuming Chuncheon as the final choice. Other companies have also expressed interest in investing in the energy cluster, and the selection process for operators is still pending. A Shinsegae Group official stated, "We are considering several locations for the AI data center, including Chuncheon, and discussions are ongoing with relevant local governments."* This article has been translated by AI. 2026-09-10 15:00:10
  • Hana Financial Group to Begin Relocation to Cheongna on September 11
    Hana Financial Group to Begin Relocation to Cheongna on September 11 Hana Financial Group will begin its relocation to Cheongna on September 11. Starting with Hana Financial Holdings, approximately 2,200 employees from 10 affiliates, including Hana Bank, Hana Securities, and Hana Card, will gradually move to the group's headquarters in Cheongna International City, Incheon, by the end of the year. This marks the culmination of a long-term project that began with the vision for Cheongna Hanadream Town 14 years ago in 2012.According to the financial sector on September 10, Hana Financial will officially commence the relocation of its headquarters on September 11. The move will not occur all at once; instead, it will take place in phases according to the schedules of each affiliate and department, continuing through the end of the year.Once the legal headquarters is relocated next month, Hana Financial will become the first among South Korea's top five financial groups to have its headquarters outside of Seoul. The group plans to consolidate its capital, personnel, and financial capabilities in Cheongna to enhance decision-making speed and strengthen collaboration among its affiliates, including banking, securities, cards, and insurance.The relocation will occur in stages based on the schedules of each affiliate and department. Hana Financial aims to complete the move by the end of the year, considering operational continuity and the working conditions of each organization.The vacated office space in Seoul will not remain empty. Hana Financial plans to reorganize its affiliates and teams currently scattered across various locations in Seoul into the new space created by the move to Cheongna, thereby improving operational efficiency.The group's top executives will also have their workspaces established in Cheongna. A Hana Financial representative stated, "Chairman Ham Young-joo's office will also be set up in the Cheongna headquarters, although a specific timeline has not yet been determined." With the chairman's office moving, the focus of major decision-making within the group is expected to gradually shift to Cheongna.To support employee commuting, Hana Financial will expand its shuttle bus services. Currently, shuttle buses are operating for IT personnel working at the Cheongna Integrated Data Center. In line with the headquarters relocation, the group plans to gradually increase the service area and vehicle capacity based on existing routes, and it will also consider adding new routes as the number of relocated employees becomes clearer.An official event to announce the Cheongna relocation will also take place. Hana Financial is set to hold an opening ceremony for the Cheongna headquarters on October 2, with up to 250 attendees, including government officials and group employees. The event will outline the group's growth strategy, future vision, and plans for co-prosperity with the Incheon region.Hana Financial estimates that the economic impact of the relocation over the next decade will reach approximately 3.4 trillion won. The direct and indirect job creation effect is expected to be around 15,000 jobs, with an anticipated increase in tax revenue, including corporate local taxes, local income taxes, and acquisition taxes, amounting to about 420 billion won.A Hana Financial representative remarked, "Incheon is growing into an international business hub where global companies gather, thanks to Incheon International Airport and Incheon Port. Once the Cheongna headquarters relocation is completed, it will enhance the group's operational efficiency and collaboration among affiliates while establishing a foundation for long-term growth with the Incheon region."Next month, Hana Financial will also move its legal headquarters from Seoul to Incheon. Once the registered address is changed to Cheongna, the transition to the 'Cheongna era' for Hana Financial will be officially recognized. 2026-09-10 14:56:00
  • Nearly half of South Koreans oppose Hormuz deployment, poll finds
    Nearly half of South Koreans oppose Hormuz deployment, poll finds SEOUL, September 10 (AJP) - Nearly half of South Koreans oppose sending military assets to the Strait of Hormuz, a poll released on Thursday shows. The finding comes as Seoul considers contributing to maritime security in the strategic waterway, following the return of a government-led inspection team earlier in the day from the United Arab Emirates (UAE), where it assessed conditions for a possible deployment. The National Barometer Survey or NBS, found that 45 percent of respondents opposed deploying assets including maritime patrol aircraft and a logistics support ship, compared with 36 percent who supported the move. Another 19 percent said they did not know or declined to answer. Opposition was particularly strong among supporters of the ruling Democratic Party (DP), with 55 percent against deployment and 31 percent in favor. Among supporters of the main opposition People Power Party (PPP), 46 percent backed deployment while 40 percent opposed it. A team of inspectors from the Ministry of National Defense and other officials recently returned from the UAE after reviewing military facilities, logistics, and operational conditions relevant to a possible South Korean contribution in the region. They are expected to brief the National Security Council on their findings, but Seoul has stressed that the inspection does not mean a deployment will take place, as no decision has been made yet. Cheong Wa Dae said the government was considering various options including providing technical assistance instead of sending personnel. During his state visit to France earlier this week, President Lee Jae Myung also discussed maritime security and freedom of navigation in the Strait of Hormuz with French President Emmanuel Macron, though their talks did not cover any specific plans to deploy troops. The issue has gained urgency amid pressure from U.S. President Donald Trump, who has repeatedly criticized Seoul for declining to assist Washington in its offensive against Iran. Trump said in an Aug. 16 social media post that he had asked Lee whether South Korea wanted to join U.S. operations against Iran and claimed the South Korean president replied, "No thanks!" Trump elaborated the following day, saying he had asked Lee to "give us a little hand" with Iran and questioning why Washington should continue bearing the cost of defending South Korea if Seoul was unwilling to assist the U.S. Trump also linked Seoul's refusal to his decision to substantially reduce U.S.-South Korea joint military exercises. 2026-09-10 14:55:47
  • Financial Supervisory Service to Inspect OK Savings Bank and SBI by Year-End
    Financial Supervisory Service to Inspect OK Savings Bank and SBI by Year-End 금융감독원이 지난달 OK저축은행에 이어 연말 SBI저축은행에 대한 검사에 나선다. 업계 1·2위 저축은행의 경영 관리 실태를 잇달아 들여다보는 것이다. 국제결제은행(BIS) 기준 자기자본비율이 권고치를 밑돈 NH저축은행에는 자본확충 등 건전성 개선계획을 요구했다. 10일 금융권에 따르면 금감원은 지난달 말 OK저축은행에 대한 검사에 착수했다. 금감원은 OK저축은행의 수수료 체계 실태를 집중적으로 점검했다. 금감원은 연초부터 고객의 대출 청약철회 신청을 임의로 중도상환 처리하는 등 저축은행 업권의 무분별한 행태를 막기 위해 내부통제를 강화해왔다. OK저축은행은 지난해에도 높은 연체율로 금감원의 현장검사를 받은 바 있다. OK저축은행 연체율은 2024년 말 9.05%로 당시 업권 평균인 8.52%를 웃돌았다. 2025년 말 5.80%까지 낮아졌지만 올해 6월 말에는 6.58%로 다시 상승했다. 그러나 이번 점검에서는 수수료를 중점적으로 살펴본 것으로 알려졌다. 금감원은 연말 SBI저축은행에 대해서도 정기검사에 착수할 예정이다. SBI저축은행의 올해 상반기 전체 연체율은 4.52%로 지난해 같은 기간보다 0.19%포인트 상승했지만 자산 상위 5개 저축은행 평균인 6.19%보다는 낮았다. 다만 부동산 PF 연체율은 20.05%로 전년 동기보다 13.33%포인트 급등했다. 이에 따라 PF 사업장 정리와 충당금 적립, 연체채권 관리 등 부동산 관련 여신의 건전성이 주요 점검 대상이 될 전망이다. 금감원은 건전성 지표가 권고 수준에 미치지 못한 저축은행에 대한 관리도 강화하고 있다. 금감원은 BIS 기준 자기자본비율이 권고치인 11%를 밑돈 NH저축은행에 자본확충과 자금조달 방안 등이 담긴 건전성 개선계획을 요구했다. NH저축은행의 올해 6월 말 BIS 비율은 10.95%다. 저축은행업권에 대한 건전성 압박이 이어지는 것은 PF 부실 우려가 여전히 해소되지 않고 있기 때문이다. 저축은행중앙회에 공시된 79개 저축은행의 올해 상반기 경영공시를 전수조사한 결과 부동산 관련 업종 대출 연체율이 10%를 넘는 곳은 40곳으로 전체 중 절반을 넘었다. 부동산 관련 업종에는 부동산 PF와 건설업, 부동산업이 포함된다. KB저축은행과 상상인저축은행, 대명저축은행 등 3곳은 연체율이 30%를 웃돌았다. 자산 상위 5개 저축은행인 SBI·OK·한국투자·웰컴·애큐온저축은행의 부동산 관련 업종 대출 연체율도 올해 6월 말 12.58%로 지난해 말 9.82%보다 2.76%포인트 상승했다. 업계에서는 부동산 PF 사업장 정리가 이어지고 있지만 지방을 중심으로 부동산 경기 침체가 장기화하면서 남아 있는 사업장의 부실이 오히려 깊어지고 있다는 분석이 나온다. 저축은행업계 관계자는 “부동산 경기 회복이 늦어지는 가운데 시장금리까지 오르면서 연체율 부담이 이어지고 있다”며 “신규 대출을 보수적으로 취급하고 있지만 시장 여건이 나빠지면서 기존 대출에서도 부실이 발생하고 있다”고 말했다. 2026-09-10 14:52:20
  • Man Uses AI to Create Fake Police ID, Commits Robbery Posing as Officer
    Man Uses AI to Create Fake Police ID, Commits Robbery Posing as Officer A man in his 30s posed as a police officer to steal valuables, using a fake police ID created with AI technology.According to legal sources on September 10, the Jeju District Court's Criminal Division 2 sentenced the man, identified as A, to two years in prison, suspended for four years, and ordered him to complete 80 hours of community service.The indictment states that A entered a multi-family home in Jeju City on May 27 and stole approximately 3 million won (about $2,500) in cash and jewelry.During the crime, A presented a photo of a forged police ID and told the victim, “I’m here for a search warrant,” before forcing them into a bathroom to prevent resistance while he took the valuables.A is also accused of stealing about 1 million won (around $850) from another victim earlier that same month.The court noted, “Considering A’s method of operation and the social impact of his actions, the crime is not minor,” adding that he planned the crime by targeting the victims' vulnerabilities and undermined public trust in law enforcement.However, the court also considered that A acknowledged his guilt and expressed remorse, as well as the fact that he reached an agreement with both victims, which contributed to the decision to impose a suspended sentence.* This article has been translated by AI. 2026-09-10 14:52:10
  • Eduwill Launches Educational Research Institute to Enhance Exam Success Strategies
    Eduwill Launches Educational Research Institute to Enhance Exam Success Strategies Eduwill has officially launched its 'Eduwill Educational Research Institute' to strengthen research on exam success strategies.According to Eduwill on the 10th, the organization has consolidated its content capabilities, previously divided into three teams within the publishing development division, into a single 'institute' structure. The newly established research institute will be led by CEO Yang Hyung-nam, who will also serve as the director. A team of 32 members, who have been responsible for writing and developing educational materials, will collaborate on research in their respective fields.The organization will operate under the 'Eduwill Educational Research Institute' with specialized research systems for various fields, including real estate agents, articles, certifications, AI, seniors, and global studies. The goal is to conduct specialized research in each area and apply verified success methodologies as the foundation for future exam preparation books and educational content.The research institute will analyze accumulated past exam data and the latest trends in question formats to establish learning strategies based on timing and skill levels. Research outcomes will be published periodically as content created by researchers, providing guidance for first-time exam takers on what to study first.The institute will also analyze changes in the exam environment, continuously producing content that addresses issues such as revisions to relevant laws and question standards, changes in testing systems, and hiring plans within the exam ecosystem.Yang Hyung-nam, CEO of Eduwill and director of the Educational Research Institute, stated, “Those studying at Eduwill are either students, job seekers, or individuals preparing for new careers while working. Since they have started studying for more stable jobs and a better future, it is our responsibility to guide them to success.”* This article has been translated by AI. 2026-09-10 14:52:00
  • KB Financial Group to Select Next Chairman on September 11
    KB Financial Group to Select Next Chairman on September 11 KB Financial Group will select its next chairman on September 11. With Yang Jong-hee, the current chairman, showing strong performance and a potential for the first annual profit to exceed 6 trillion won, he is favored for reappointment. Meanwhile, Lee Jae-geun, head of KB Financial, and Kwon Kwang-seok, former head of Woori Bank, are in a tight competition.According to the financial sector on September 10, the KB Financial Chairman Candidate Recommendation Committee will conduct in-depth interviews with three candidates on September 11 and finalize one candidate. The selected candidate will be recommended by the committee and the board of directors on October 2 and is expected to be appointed at a special shareholders' meeting in November.The committee began the succession process in June and narrowed down the initial six candidates to three by August 27. This process started more than a month earlier than usual and included a three-month evaluation period to ensure thorough candidate verification.The key points of this selection process are 'performance reappointment,' 'generational change,' and 'external renewal.' Chairman Yang is challenging for reappointment based on his performance and shareholder return achievements. Lee is advocating for generational change through internal succession, while Kwon, as the only external candidate, is positioned as a proponent of organizational renewal.In the financial sector, Yang's chances of reappointment are considered the highest among the three candidates. He has consistently improved performance without significant management gaps or internal control risks, and he has significantly increased the profit contributions and shareholder returns from non-banking subsidiaries.Some subsidiaries are reportedly preparing their business plans for next year with Yang's reappointment in mind, reflecting a focus on continuity rather than change in management structure within the group.Since Yang's appointment, KB Financial's net profit has steadily increased. In 2024, net profit rose by 11.1% year-on-year, surpassing 5 trillion won, and in 2025, it recorded a 16.1% increase to 5.84 trillion won. In the first half of this year, net profit also grew by 13.9% compared to the same period last year, reaching 3.93 trillion won, raising the possibility of exceeding 6 trillion won in annual net profit for the first time.The increased profit contribution from non-banking subsidiaries is also seen as a significant achievement for Yang. In the first half of this year, non-banking subsidiaries accounted for 44% of KB Financial's total net profit, a 5 percentage point increase from the previous year.With a stable capital base, shareholder returns have also expanded. KB Financial's total shareholder return increased from 1.746 trillion won in 2023 to 3.058 trillion won in 2025, a 75.1% rise over two years. This year, it is expected to reach 3.7 trillion won, a 21% increase from the previous year.Lee and Kwon are also competing fiercely, each highlighting their strengths. Lee is a strong internal succession candidate, having held key positions in both KB Financial and KB Kookmin Bank. His experience in both group and bank management is seen as a significant advantage, allowing him to continue the current management strategy while injecting new energy into the organization through generational change.Kwon, as the only external candidate among the finalists, has accumulated experience across banking and non-banking sectors, having served as the head of Woori Bank and as the representative of Woori Private Equity Asset Management. His ability to reassess the organization and business portfolio from an external perspective is viewed as a potential 'external renewal' advantage.A financial sector insider noted, "While Kwon may be at a disadvantage in understanding KB Financial's internal circumstances and organization as an external candidate, Lee's extensive experience in both the group and bank is a strength. However, given Yang's solid performance without significant management gaps or risks, he currently appears to have the strongest chance of reappointment." 2026-09-10 14:48:00
  • Yoo Soo-young Takes Office as Fourth Director of Korea Credit Information Corporation
    Yoo Soo-young Takes Office as Fourth Director of Korea Credit Information Corporation Yoo Soo-young officially took office as the fourth director of the Korea Credit Information Corporation on September 10. This marks the first time a director has been appointed from the Ministry of Finance and Economy.The Korea Credit Information Corporation announced that Yoo was elected as the new director following a general meeting. His term will last for three years.On his first day, Yoo visited various departments to communicate with staff and began his official duties. He urged employees to actively engage with the financial sector and to establish the organization as a trusted provider of financial data for the public.In his inaugural speech, Yoo expressed, “I feel a significant sense of responsibility and mission regarding the major tasks of expanding inclusive finance and transforming productive finance.” He added, “The Credit Information Corporation is a data provider essential for the financial industry, and I will do my utmost to ensure it becomes a future innovation infrastructure that accelerates the artificial intelligence transformation of the financial sector by connecting diverse data.”Yoo, who entered public service through the 39th National Administrative Examination, is recognized as a communications expert, having served as the spokesperson for the Ministry of Finance and Economy and the Ministry of Strategy and Finance. He has gained extensive experience across various fields, including international finance, economic policy, planning and coordination, and budgeting, contributing to his comprehensive understanding of economic and financial policies.* This article has been translated by AI. 2026-09-10 14:44:10
  • Gunpo City Corporation Implements 3D Body Analysis for Employee Health Management
    Gunpo City Corporation Implements 3D Body Analysis for Employee Health Management Gunpo City Corporation conducted a 'one-on-one customized musculoskeletal therapy' program for office workers on September 7 and 8 to prevent musculoskeletal disorders. According to the corporation, the program was designed to assess the physical strain and postural imbalances commonly experienced by office workers who spend long hours on computers, providing tailored management methods based on individual characteristics. Participants underwent 3D body analysis to evaluate their posture and physical balance, followed by personalized treatments such as fascia release therapy and corrective exercises based on the analysis results. Notably, participants could access their analysis results via mobile devices, allowing them to directly observe their posture and identify areas needing attention. Employees who took part in the program expressed positive feedback, noting the opportunity to objectively assess their usual posture and receive management tailored to their individual conditions. Community members also shared favorable opinions about the public institution's initiative to support employee health management. One resident stated, "Office workers often sit in front of computers all day, leading to discomfort in their necks, shoulders, and backs. A program that allows employees to check their physical condition and reflect on their daily habits could be beneficial for health management." Another resident remarked, "The health of employees is ultimately linked to the quality of services provided to citizens, so it is meaningful for public institutions to take care of worker health. I hope this program continues beyond a one-time event." Meanwhile, President Bae Jae-guk of the corporation emphasized, "Long hours of computer work for office workers can place a burden on the neck, shoulders, and back, making ongoing management essential." He added, "We will continue to expand customized health promotion programs that reflect the work characteristics and health risk factors of our employees." 2026-09-10 14:44:10