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  • HD Hyundai Heavy Industries to Invest 1 Trillion Won in Engine and SMR Projects
    HD Hyundai Heavy Industries to Invest 1 Trillion Won in Engine and SMR Projects HD Hyundai Heavy Industries is making a significant investment in land-based power engines and small modular reactors (SMRs) to enhance its future competitiveness.On September 10, HD Hyundai Heavy Industries announced it will invest a total of 1.0722 trillion won to establish a new production base for power engines and a dedicated factory for SMR manufacturing.Initially, the company will invest 833.6 billion won to build a new production facility for its HiMSEN engines in Onsan-eup, Ulsan, with a capacity of 3GW.The new facility will cover approximately 215,000 square meters (about 52 acres) and will include an engine assembly and testing plant, a crankshaft machining plant, and an engine block casting plant. Construction is set to begin in the first quarter of next year, with completion expected in May 2028.This investment is aimed at proactively addressing the rapidly increasing power demand from artificial intelligence (AI) data centers, leveraging decades of expertise in marine engine technology to accelerate its entry into the land power market.HD Hyundai expects to secure an annual production capacity of 4GW for land-based power engines through this expansion. The production of HiMSEN engines will be diversified across different locations, allowing for more efficient production management.The existing Ulsan plant will focus on manufacturing marine HiMSEN engines, while the new facility and HD Hyundai Engine in Yeongam, Jeollanam-do, will specialize in land-based HiMSEN engines.Through this dual-location strategy, HD Hyundai anticipates increasing its total HiMSEN engine production capacity from the current 3GW to 7.2GW by 2030.Additionally, HD Hyundai Heavy Industries will invest 238.6 billion won to establish a dedicated factory for SMR core equipment. This factory will be built on the site of the Ulsan shipyard, with completion targeted for the first half of 2029.SMRs are next-generation nuclear power plants that reduce output compared to traditional large-scale reactors and modularize key equipment, offering advantages in stable power supply and carbon reduction. Interest in SMRs is growing rapidly due to the increasing number of AI data centers that require large-scale power around the clock.According to the Organisation for Economic Co-operation and Development (OECD), the SMR market is projected to grow to 150GW by 2050. However, there are still few confirmed orders for the core equipment, indicating significant growth potential in the future.To secure a leading position in the global SMR market, HD Hyundai is also solidifying its collaboration with TerraPower. On August 14, HD Hyundai Chairman Chung Ki-sun met with Bill Gates, founder and chairman of TerraPower, in Seoul to discuss cooperation on the commercialization of the next-generation SMR, the Natrium reactor.A representative from HD Hyundai Heavy Industries stated, "This investment aims to secure core competitiveness in power engines and SMRs, which are gaining attention as new power sources in the AI era. We will proactively respond to the surging power demand and strive to dominate the global AI infrastructure market."* This article has been translated by AI. 2026-09-10 13:52:10
  • KOSPI Fluctuates Around 7,000 Amid Foreign and Institutional Selling; KOSDAQ Turns Positive
    KOSPI Fluctuates Around 7,000 Amid Foreign and Institutional Selling; KOSDAQ Turns Positive The domestic stock market continued to show weakness in the afternoon, with the KOSPI fluctuating around the 7,000 mark due to ongoing selling by foreign and institutional investors. In contrast, the KOSDAQ managed to reverse its early losses and turn positive.According to the Korea Exchange, as of 1:39 PM, the KOSPI was down 22.16 points (0.31%) at 7,029.48. The index opened at 7,038.85, down 12.79 points (0.18%) from the previous trading day, and has been moving around the 7,000 level.By investor type, individuals were net buyers, purchasing 1.44 trillion won, while foreign and institutional investors sold 1.26 trillion won and 1.44 trillion won, respectively.Among the top market capitalization stocks, performance was mixed. Samsung Electronics (-0.37%), SK Hynix (-0.16%), SK Square (-0.35%), Samsung Electro-Mechanics (-1.64%), LG Energy Solution (-2.43%), Hyundai Motor (-0.52%), and Samsung Biologics (-2.20%) all saw declines. Conversely, KB Financial (0.70%) and Samsung Life (0.49%) experienced gains.The KOSDAQ index turned positive, showing an increase of 0.36 points (0.04%) to reach 830.73 at the same time. The index opened at 825.06, down 5.31 points (0.64%) from the previous day but managed to recover and rise.In the KOSDAQ market, individuals and institutions were net buyers, purchasing 428 billion won and 522 billion won, respectively, contributing to the index's rise. However, foreign investors were net sellers, offloading 559 billion won.Among the top KOSDAQ stocks, Alteogen (-1.43%), EcoPro (-1.50%), and EcoPro BM (-1.13%) declined. In contrast, JUSUNG Engineering (9.44%), Rainbow Robotics (0.79%), Wonik IPS (0.58%), IO Tech (0.43%), Rino Technology (1.14%), Simtec (1.73%), and Roboteers (3.71%) saw increases.* This article has been translated by AI. 2026-09-10 13:52:10
  • Controversy Erupts Over Portion Size of Grilled Hairtail at Jeju Restaurant
    Controversy Erupts Over Portion Size of Grilled Hairtail at Jeju Restaurant A controversy has arisen over the portion size of grilled hairtail at a restaurant in Jeju Island.Recently, on social media, a customer identified as A visited a grilled hairtail restaurant in Seogwipo, Jeju, and posted about the small portion after ordering four servings. A reported that they paid approximately 90,000 won for four servings of grilled hairtail (72,000 won), along with additional dishes of pork and steamed eggs. However, the portion of grilled hairtail appeared to be insufficient.A compared a photo of a single serving posted in the restaurant's reviews with the four servings they received, stating, “Honestly, it didn’t look like four servings, and I was still hungry after eating.”After inquiring about the portion size with the restaurant, A was informed that the standard for four servings is 22 pieces of grilled hairtail. The restaurant maintained that they had provided the correct amount.A expressed dissatisfaction, saying, “What I received didn’t feel like that. The food in the photo was untouched, and there were at most 8 to 10 pieces of grilled hairtail.”Following the uproar over perceived overcharging, the restaurant issued a statement on social media the next day, asserting, “All food is served according to the standards set by the restaurant. The appearance of the portion may vary based on the location, shape, and angle of the photo.” They also released a video showing the cooking process.The video displayed pots containing one and four servings of grilled hairtail. The single serving pot included two pieces of potato, one piece of radish, and seven pieces of grilled hairtail, while the four-serving pot contained two pieces of potato, two pieces of radish, and 22 pieces of grilled hairtail.However, after the video was released, netizens reacted by questioning the restaurant's “standard portion.” They noted that the amount of potato and radish did not significantly differ between the one and four servings, and the grilled hairtail was only 22 pieces instead of the expected 28 pieces for four servings.Comments from netizens included suggestions like, “It would be better to order four single servings,” and “Show the weight in grams.” Others expressed skepticism about the restaurant's future, stating, “If they continue this way, they won’t last long.”A also responded to the restaurant's statement, saying, “The disappointment I felt at the time remains unchanged,” and urged others to consider both sides and make their own judgments.* This article has been translated by AI. 2026-09-10 13:52:00
  • Gwachon City Corporation Enhances Energy Efficiency at Second Indoor Gym
    Gwachon City Corporation Enhances Energy Efficiency at Second Indoor Gym The Gwachon National Sports Center, operated by the Gwachon City Corporation, has implemented eco-friendly facilities in its newly completed second indoor gym to reduce air pollutants and enhance energy efficiency. According to the corporation, the new gym features a low nitrogen oxide (Low NOx) boiler designed to decrease nitrogen oxide (NOx) emissions. Additionally, the outdoor units of the air conditioning system are equipped with devices to reduce air pollutant emissions. High-efficiency equipment has also been introduced to lower electricity and energy consumption. This includes LED lighting and energy-efficient certified equipment for air conditioning, boilers, and other key systems. The corporation believes that these high-efficiency facilities will help reduce energy consumption during the operation of the sports center and contribute to long-term savings on facility operating costs. This initiative aims to improve the energy efficiency of public sports facilities used by citizens while also considering air quality improvements. Local residents have responded positively to the environmentally friendly and energy-efficient installations. One citizen, Kim, stated, “As a facility used by many citizens, the indoor environment and facility management are important. I hope there will be ongoing maintenance to ensure a comfortable experience in this new facility.” A corporation official added, “We are actively introducing eco-friendly facilities in public buildings, including the second indoor gym, and we will strive to create sports facilities that citizens can use comfortably and safely.”* This article has been translated by AI. 2026-09-10 13:52:00
  • Government Responds to Peter Pan Dad with National Responsibility for Care of Disabled
    Government Responds to 'Peter Pan Dad' with National Responsibility for Care of Disabled "Where will my child go when I am gone?" This was the anguished cry of Jeon Gyeong-cheol, a writer known as the 'Peter Pan Dad,' who recently passed away after battling cancer while raising his son, a severely autistic individual with a developmental age of just two years. His story, marked by rejection from over 1,000 facilities across the country, starkly highlighted the harsh reality that the burden of caring for individuals with developmental disabilities has fallen solely on families.In response to the tears of the 'Peter Pan Dad,' the government has finally introduced a 'national responsibility for care' initiative. This plan aims to relieve families of the burden of caring for individuals with developmental disabilities, ensuring that even after parents pass away, their children can live independently and with dignity in their communities.On the morning of September 10, the Ministry of Health and Welfare, along with the Ministry of Education and the Ministry of Employment and Labor, announced the 'National Responsibility for Care of Individuals with Developmental Disabilities' plan at the Government Seoul Building. There are approximately 288,000 individuals with developmental disabilities in South Korea, accounting for 11.0% of all people with disabilities, but only 26.4% can live independently, highlighting the need for lifelong support.The government has established three main strategies and 11 key initiatives (with 50 detailed tasks) to implement the national responsibility for care, focusing on tailored support throughout the life cycle, expanding independence and social participation, and building a robust community-based support system.Half of Caregivers Abandon Economic Activities to Prevent Family TragediesThe reality for families with individuals with developmental disabilities has long reached its limits. According to a survey by the Ministry of Health and Welfare, 46.2% of caregivers have given up their economic activities due to the burden of care, and 29.6% suffer from severe depression and mental health issues.Over the past four years, at least 25 cases of extreme choices or tragedies among families with individuals with developmental disabilities have been confirmed through media reports. Notably, 69.5% of individuals with developmental disabilities are adults, and with 41.3% of their parents now over 60, the fear of a 'care gap after parental death' has become a significant concern for families.Expanding 24-Hour Care for the Severely Disabled, Even on WeekendsMeasures to address the 'where will my child go after I am gone' issue, which the 'Peter Pan Dad' was most anxious about, have been prioritized. The government plans to significantly enhance 24-hour individual support services for severely disabled individuals who have been denied admission to facilities due to severe behavioral challenges.In a significant policy shift, the government will now provide care and housing 24/7, including weekends, for individuals whose parents are deceased or absent. The number of individuals receiving integrated care for the severely disabled will increase from 2,340 this year to 2,760 by 2027.Additionally, in line with the 'Community Independence for Persons with Disabilities Act' set to take effect in March 2027, the government will promote community-based independence support, expanding tailored housing assistance that combines public rental housing, job opportunities, and activity support to all basic local governments by 2030.To protect vulnerable individuals from financial exploitation, the National Pension Service will enhance its public trust property management services and strengthen the public guardianship system to safeguard their assets and rights even in the absence of parents.Innovating Delivery Systems for Services: From Charity to NormalcyThe government will also innovate the delivery system to eliminate the shortcomings of the 'application-based' approach that required families to seek services individually. New 'Regional Support Centers for Children with Disabilities' will be established in each province to provide a one-stop connection from early detection to hospitals, welfare centers, and special education.Improvements in the treatment of caregivers, who often endure high-stress workloads, will also be implemented. A new hourly allowance for caregivers of disabled infants and toddlers will be introduced, and the professional allowance for caregivers of the severely disabled will be increased from the current 200,000 won per month to enhance service quality. The number of family respite support slots for exhausted parents will also be expanded to 18,000.Minister of Health and Welfare Jeong Eun-kyeong stated, "Individuals with developmental disabilities need the ordinary daily lives that we take for granted. We will strengthen the support system for individuals with developmental disabilities so that the burden of care, which families have shouldered for so long, can now be shared by the state and the community."* This article has been translated by AI. 2026-09-10 13:44:10
  • KB Financial Group Expands Collaboration with Bloomberg to Strengthen Global Business
    KB Financial Group Expands Collaboration with Bloomberg to Strengthen Global Business KB Financial Group is partnering with global financial information and technology company Bloomberg to enhance its competitiveness in the global capital markets and strengthen its overseas network.On September 9, KB Financial announced that it signed a memorandum of understanding with Bloomberg to expand their strategic collaboration.The two companies will enhance data and technology cooperation focusing on capital markets and asset management. KB Financial plans to utilize Bloomberg's financial information and analytical solutions to improve its trading and investment operations, as well as strengthen its portfolio and risk management capabilities. They will also explore new collaborative opportunities in data governance and digital transformation.Additionally, they will work together to promote KB Financial's financial products and services to global market participants and expand its network of overseas clients and investors.A representative from KB Financial stated, "To enhance our competitiveness in the global capital markets, leveraging data and artificial intelligence (AI) is essential, along with a robust global network. We aim to expand our expertise in capital markets and our global business foundation through our collaboration with Bloomberg." 2026-09-10 13:44:00
  • Hyundai Steel and Subsidiaries Reach Labor Agreement Under New Law
    Hyundai Steel and Subsidiaries Reach Labor Agreement Under New Law Hyundai Steel and its subsidiaries have signed a collective agreement through primary-subcontractor negotiations, marking the first instance since the implementation of the Yellow Envelope Law (revised labor union law).On September 10, the Ministry of Employment and Labor announced that Hyundai Steel and four of its subsidiaries—Hyundai ITC, Hyundai IEC, Hyundai IMC, and Hyundai ISC—signed the "2026 Primary-Subcontractor Negotiation Agreement" at the Hyundai Steel plant in Dangjin. This is the first case of a collective agreement being reached through actual negotiations between primary and subcontractor labor unions since the revised labor law took effect on March 10.The revised labor law expanded the definition of an employer to include those who can substantially and concretely control or determine the working conditions of employees, even if they are not parties to the employment contract.Previously, the Labor Relations Commission decided to separate the bargaining units for the four labor unions of Hyundai Steel's subsidiaries and the labor unions of affiliated companies. The initial decision was made on April 16, and the re-examination decision was made on June 24. Consequently, Hyundai Steel has been conducting negotiations for each bargaining unit.The primary-subcontractor negotiations with the four subsidiary labor unions began with an introductory meeting on August 20 and included a total of four sessions. The management of the subsidiaries also participated in discussions regarding industrial safety issues, recognizing Hyundai Steel's employer status through the Labor Relations Commission.As a result of the negotiations, Hyundai Steel and the subsidiary labor unions agreed to continuously improve the industrial safety and health management systems of the subsidiaries. They also committed to establishing a roadmap for long-term improvements to enhance safety and health standards.The Cheonan branch of the Ministry of Labor supported the negotiations by facilitating practical discussions between labor and management and presiding over labor-management meetings to reconcile the positions of the primary and subcontractor labor unions.Labor Minister Kim Young-hoon stated, "This is the first case where the intent of the revised labor union law, which promotes dialogue and coexistence between primary and subcontractors, has been realized on the ground. The signing of this collective agreement is a significant opportunity for Hyundai Steel's workplace to become safer through dialogue between primary and subcontractors." He added, "The Ministry of Labor will do its utmost to support the promotion of dialogue between primary and subcontractors to ensure the successful establishment of primary-subcontractor negotiations."* This article has been translated by AI. 2026-09-10 13:36:20
  • SK Gas Shares Rise Nearly 5% on Increased Profit Outlook from Ulsan GPS
    SK Gas Shares Rise Nearly 5% on Increased Profit Outlook from Ulsan GPS SK Gas shares rose nearly 5% during trading on expectations of increased profits from the Ulsan GPS power generation project and a recovery in its liquefied petroleum gas (LPG) business.According to the Korea Exchange, as of 1:24 PM, SK Gas was trading at 254,500 won, up 12,000 won (4.95%) from the previous trading day.Analysts predict that the expansion of profits from Ulsan GPS's power generation business will continue to improve SK Gas's performance. Yuanta Securities forecasts that operating profit from the power generation business centered on Ulsan GPS will increase by 83.4%, from 116 billion won this year to 212.8 billion won next year.Ulsan GPS operates power plants with a capacity of 1,212 MW based on LNG and 1,171 MW based on LPG, capable of using both fuels. This flexibility allows for the selection of the more economically viable fuel depending on price, which is expected to enhance profitability in the power generation sector.SK Gas, a company that imports and distributes LPG both domestically and internationally, has recently expanded its business scope to include LNG storage and transmission infrastructure, diversifying its revenue structure.Notably, the Ulsan Artificial Intelligence Data Center (AIDC) is expected to gradually begin operations in 2027, leading to increased demand for electricity and LNG. Consequently, the utilization of existing energy assets, such as Ulsan GPS and Korea Energy Terminal (KET), is also anticipated to rise.The solid profit base of the LPG core business is another factor fueling expectations for improved performance. Son Hyun-jung, a researcher at Yuanta Securities, stated, "While quarterly performance volatility in the LPG business may continue, the annual profit generation capacity based on domestic and international sales and trading will be maintained."The escalation of tensions between the United States and Iran has also contributed to increased concerns over energy supply chains, impacting stock prices. The geopolitical risks surrounding the Strait of Hormuz have heightened interest in gas-related companies capable of responding to changes in energy supply and demand.* This article has been translated by AI. 2026-09-10 13:36:00
  • Mayor Shin Gye-yong: Citizens Must Be Included in Gwacheons Future Decisions
    Mayor Shin Gye-yong: Citizens Must Be Included in Gwacheon's Future Decisions Mayor Shin Gye-yong stated on September 10 that "the city of Gwacheon and its citizens must not be excluded from the process of determining the future of Gwacheon," as he raised concerns about the Ministry of Justice's plan to relocate to Sejong.During a press conference held in the lobby of the government building, Shin criticized the government's unilateral announcement of the relocation plan, which he said significantly impacts Gwacheon's future, without sufficient prior consultation with the city. He called for a reevaluation of the plan.Shin emphasized the need for a comprehensive review of the relocation plan and the establishment of an official consultation body between the government and Gwacheon.While he does not oppose the national direction of balanced regional development, he insists that decisions affecting Gwacheon's urban structure and future should not be made unilaterally by the government without community involvement.He asserted, "Reevaluating the Ministry of Justice's relocation plan from the ground up is Gwacheon's fundamental position." He also stressed that if the relocation is deemed unavoidable, the government should first confirm a central administrative agency or a corresponding key national function before proceeding with the move to maintain Gwacheon's administrative and self-sustaining functions.The Ministry of the Interior and Safety is currently conducting a study to review future utilization plans for the Government Gwacheon building and surrounding vacant land. However, Shin raised concerns that Gwacheon has not been able to participate in discussions regarding this study.Given that the utilization direction of the Government Gwacheon building and vacant land is directly linked to Gwacheon's urban development, he argued that the city and its citizens should be included as official discussion participants from the outset of the study.Moreover, the vacant land in Gwacheon has been frequently mentioned as a potential site for housing supply under government policies, raising significant concerns among local residents.Shin contended that the plans for the Government Gwacheon building and vacant land should be comprehensively reviewed beyond individual policy levels, such as housing supply, in the context of Gwacheon's overall urban planning and long-term development direction.He called on the government to consider the following: reevaluation of the Ministry of Justice's relocation plan, transparent disclosure of the future utilization study for the Government Gwacheon building, establishment of an official consultation body between the government and Gwacheon, and the application of the principle of 'confirming a replacement agency before relocation' if the Ministry of Justice's move proceeds.Local citizens also expressed concerns that the relocation of the government building is not merely an issue of moving a specific department but could impact the overall administrative, economic, and living conditions in Gwacheon.One resident stated, "Policies related to the government building should not be decided without adequately considering the opinions of Gwacheon citizens," adding that it is essential to present what functions will replace the government building and how the city's future will change after the relocation.Another citizen noted, "Since Gwacheon has developed around the government building, any changes to its functions will significantly affect the area," urging that plans for a replacement agency or local development measures should be prepared alongside the relocation decision.Shin reiterated, "If the government proceeds with the relocation, it must first confirm a central administrative agency or a corresponding key national function to maintain Gwacheon's administrative and self-sustaining capabilities."Additionally, Shin plans to request meetings with the President, Prime Minister, and relevant agencies to demand a clear stance from the government. 2026-09-10 13:32:20
  • Lack of Witnesses at Justice Ministers Hearing Raises Concerns for Lee Jae-myungs Administration
    Lack of Witnesses at Justice Minister's Hearing Raises Concerns for Lee Jae-myung's Administration The National Assembly's confirmation hearing for Kim Seung-won, the nominee for Minister of Justice, is set for September 15. However, not a single witness or reference person has been selected to verify the allegations against him. As it stands, the hearing is likely to consist solely of questions directed at the nominee and his responses.The issues at hand are serious, including allegations of soliciting approval for clinical trials of a COVID-19 treatment, which could directly impact public health. There are also claims of potential pressure on investigations related to his deferred prosecution.A confirmation hearing is not merely a platform for the nominee to provide explanations; it serves as a critical evaluation by the National Assembly on whether the nominee is fit for high office on behalf of the public. At the very least, individuals such as broker Yang and pharmaceutical company representative Kang, as well as former Food and Drug Safety Minister Kim Kang-rip, should be present. The absence of witnesses indicates a refusal to conduct proper verification, turning the hearing into a mere 'explanation session.'Moreover, the nominee is set to lead the Ministry of Justice, an institution whose very name embodies justice. Higher standards are expected of him compared to other cabinet members. With fundamental changes to the criminal and judicial system scheduled for October, a Minister of Justice who has lost public trust will be unable to fulfill his duties effectively.Compounding the situation is the current state of the Lee Jae-myung administration. After over a year in office, the administration's approval rating, which once exceeded 60%, has plummeted to the 30% range, with disapproval ratings nearly double that of approval. A recent Realmeter-Energy Economy Newspaper survey indicated that support among residents of Seoul and those in their 30s has dropped to the 20% range. Analysts attribute this decline to controversies surrounding the reversal of real estate tax reforms and allegations of favoritism and dropped charges against cabinet nominees. The government and ruling party must discern whether the signal from the public is to 'conduct more thorough verification' or to 'push through appointments.' The answer is clear.When presidential approval ratings fall to the 20% range, the momentum for advancing national policies diminishes, and even ruling party lawmakers begin to prioritize their own political survival over the president's agenda. This phenomenon is commonly referred to as a 'lame duck' situation. A lame duck does not emerge suddenly; it develops gradually as the public loses trust in the president's judgment, the ruling party becomes hesitant about the president's choices, and the public service sector begins to look toward the next administration. One of the starting points for this decline is always 'appointments.'Believing that blocking witnesses will protect the nominee is a dangerous political delusion. Just because allegations are not addressed during the hearing does not mean they will disappear. History has shown that if additional allegations arise through investigations or media scrutiny after the nominee's appointment, it can be detrimental not only to the individual involved but also to the president and the government. 2026-09-10 13:32:00