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  • Chungcheong Region Accelerates $392 Billion Investment in Advanced Industries
    Chungcheong Region Accelerates $392 Billion Investment in Advanced Industries The government and local authorities are working to expedite the approval process for a $392 billion investment in advanced strategic industries in the Chungcheong region. They plan to closely manage the approval schedules for individual investment projects and share examples of expedited processing among local governments to enhance the speed of corporate investments.On September 10, the Ministry of Trade, Industry and Energy held the third meeting of the 'Chungcheong Advanced Industry Leap TF (Charging TF)' at the Government Sejong Office, involving local governments from Chungbuk, Chungnam, Sejong, Asan, Dangjin, and Cheongju.The Charging TF is a collaborative framework between central and local governments aimed at ensuring the smooth implementation of large-scale investments in advanced strategic industries in the Chungcheong region.In the first meeting, investment companies in the region shared their investment plans and support requests with relevant ministries. The second meeting focused on practical discussions among ministries to address the concerns raised by companies.The third meeting concentrated on the various approvals needed during the investment process. Given that the planned investment in advanced strategic industries in the Chungcheong region totals $392 billion, the goal is to minimize delays that occur during the approval stages to ensure that planned investments are executed.Each local government shared the status of approvals related to mega projects in advanced strategic industries and discussed future plans. They also addressed target deadlines for processing approvals, strategies for reducing timelines, and areas where support from the central government is needed.In particular, they aim to share successful cases of expedited approvals from local governments and promote these practices in other regions. The government and local authorities will continuously manage the approval progress of individual projects and jointly respond to challenges faced by companies during the investment process.Following the TF meeting, the Ministry of Trade, Industry and Energy will visit Samsung Electro-Mechanics' Sejong plant, which is preparing an $8 billion investment, to check on the progress. They plan to gather additional concerns and requests from the field and explore necessary support measures from the central government for investment implementation.Kim Gyu-sung, Director of Regional Economic Policy at the Ministry, stated, "To achieve visible results from the $392 billion large-scale investment in the Chungcheong region, rapid approval support that companies can feel is essential. In the future, the central and local governments will work as one team to resolve challenges for swift corporate investments in the Chungcheong region."* This article has been translated by AI. 2026-09-10 11:04:00
  • Oil surge, rate fears pull KOSPI below 7,000
    Oil surge, rate fears pull KOSPI below 7,000 SEOUL, September 10 (AJP) - South Korean stocks turned lower shortly after Thursday's opening bell as oil prices above $100 a barrel and rising U.S. Treasury yields outweighed gains in selected chip and financial shares. The benchmark KOSPI fell 1.66 percent to 6,934.42 as of 10:07 a.m., extending its decline after briefly climbing to an intraday high of 7,072.79 earlier in the session. The index later fell as low as 6,929.13, dropping back below the 7,000 mark. Selling by foreign and institutional investors drove the pullback. Foreign investors sold a net 273.7 billion won ($204.5 million) of KOSPI shares and institutions unloaded 411.0 billion won, while retail investors bought a net 380.1 billion won. Market breadth weakened further, with 686 stocks falling and 170 rising, while 55 were unchanged. Retail investors stepped in to buy during the morning decline, reversing their broader selling trend so far this month. Korean retail investors sold a net 15.56 trillion won of KOSPI-related securities from Sept. 1 through Wednesday, according to the Korea Exchange (KRX), as many used recent rebounds as opportunities to take profits after months of sharp market swings. External pressure added to the cautious mood. Overnight losses on Wall Street as renewed military tensions between the United States and Iran pushed crude prices sharply higher and revived concerns that energy-driven inflation could keep U.S. interest rates elevated. The Dow Jones Industrial Average fell 0.77 percent Wednesday. The S&P 500 lost 0.48 percent and the Nasdaq Composite dropped 0.64 percent. The losses came as the conflict intensified around key oil shipping routes. U.S. forces sank five Iranian oil tankers, while Iran said it attacked 10 ships near the Strait of Hormuz. The escalation raised concerns over further disruption to global energy supplies, pushing Brent crude back above $100 a barrel. November Brent crude rose 3.36 percent to $101.21 a barrel, while October West Texas Intermediate gained 3.25 percent to $96.05 a barrel. The prospect of a prolonged conflict added to pressure over energy markets. U.S. President Donald Trump said Wednesday that he expected the Iran war to end immediately after the Nov. 3 midterm elections and that oil prices would fall once the war was over. Higher oil prices have, in turn, sharpened the market's focus on inflation and the Federal Reserve. The Fed kept its benchmark rate unchanged at 3.50 percent to 3.75 percent in July. Markets see around a 60 percent chance of a rate increase at next week's policy meeting. Bond yields added another source of pressure. The U.S. 10-year Treasury yield briefly rose above 4.85 percent, its highest level since November 2023, after the Treasury Department's planned buyback of long-term debt fell short of market expectations. Against that backdrop, heavyweight shares in Seoul were mixed, with chip stocks losing momentum after leading the previous session's rebound. Samsung Electronics fell 0.74 percent to 267,500 won, while SK hynix slipped 0.11 percent to 1,854,000 won. Samsung Electronics preferred shares edged up 0.05 percent to 197,600 won. Elsewhere, gains were concentrated in financial and selected large-cap shares. Samsung Life rose 1.32 percent to 307,500 won. KB Financial gained 1.10 percent to 173,900 won, while Shinhan Financial advanced 0.81 percent to 111,500 won. LG Energy Solution added 0.40 percent to 372,500 won. Hanwha Aerospace rose 0.38 percent to 1,051,000 won. Hyundai Motor edged up 0.06 percent to 388,250 won and Kia gained 0.08 percent to 126,900 won. On the downside, Doosan Enerbility fell 2.40 percent to 89,500 won. Samsung Electro-Mechanics dropped 1.78 percent to 1,379,000 won. Samsung Biologics declined 1.24 percent to 1,434,000 won. Samsung C&T slipped 0.53 percent to 374,000 won. SK Square was little changed, rising 0.09 percent to 1,139,000 won. The junior KOSDAQ came under heavier pressure, falling 1.06 percent to 821.57. Foreign investors sold a net 120.1 billion won and institutions unloaded 44.5 billion won, while retail investors bought a net 167.1 billion won. Biotechnology and battery shares were among the main decliners. Alteogen, a biotechnology company developing drug-delivery platforms, fell 2.50 percent to 272,500 won. Battery-materials companies EcoPro and EcoPro BM dropped 2.30 percent to 84,800 won and 1.39 percent to 113,300 won, respectively. Semiconductor-related shares also weakened. Jusung Engineering fell 1.69 percent to 203,000 won, while Wonik IPS lost 2.00 percent to 117,700 won. EO Technics slipped 0.74 percent to 466,500 won. Among the major junior shares shown, only robot makers Rainbow Robotics and ROBOTIS advanced. Rainbow Robotics rose 1.80 percent to 453,500 won, while ROBOTIS jumped 6.13 percent to 329,000 won. In the currency market, the Korean won weakened to 1,339.20 per dollar from 1,336.1 a day earlier. AJP Takeaways - South Korea's KOSPI fell 1.66 percent to 6,934.42 as of 10:07 a.m. on Sept. 10, 2026, dropping back below 7,000 after touching an intraday high of 7,072.79. Foreign investors sold a net 273.7 billion won of KOSPI shares and institutions sold 411.0 billion won, while retail investors bought 380.1 billion won during the morning decline. - Oil above $100 and rising U.S. Treasury yields weighed on South Korean stocks after Wall Street fell on Sept. 9, 2026. November Brent crude rose 3.36 percent to $101.21 a barrel and October West Texas Intermediate gained 3.25 percent to $96.05 as renewed U.S.-Iran fighting raised concerns over energy supply disruptions and inflation. - Rate expectations added to market pressure ahead of the U.S. Federal Reserve's September 2026 policy meeting. The Federal Reserve kept its benchmark rate at 3.50 percent to 3.75 percent in July, while markets were pricing in about a 60 percent chance of a rate increase. The U.S. 10-year Treasury yield also briefly moved above 4.85 percent, adding pressure to risk assets including South Korean equities. 2026-09-10 11:03:51
  • Korea targets Chinese tour demand for regional travel push
    Korea targets Chinese tour demand for regional travel push SEOUL, September 10 (AJP) - South Korea will bring Chinese travel agencies to meetings with Korean tourism officials this week as part of a push to send more Chinese visitors beyond Seoul, the culture ministry said Thursday. The first Korea-China travel industry exchange will be held in Incheon on Thursday, followed by a regional tourism briefing and business-to-business travel market in Andong, North Gyeongsang Province, on Friday. The program is hosted by the ministry and organized by the Korea Tourism Organization and the Korea Association of Travel Agents. About 200 people are expected to attend the Incheon event, including executives from the China Association of Travel Services, around 50 Chinese outbound travel agency officials and 50 Korean inbound tour operators. The event will include business meetings aimed at developing and selling group tour products for Chinese visitors to Korea. The Korea Association of Travel Agents will present 68 selected travel products covering themes such as family trips, K-beauty, wellness, leisure sports and regional tourism. The second day will shift to Andong, where Chinese travel firms, media representatives, airline officials, Korean local governments and regional tourism organizations will discuss new tour routes. Seven local governments, Gangwon, South Gyeongsang, North Gyeongsang, Daegu, North Jeolla, North Chungcheong and South Chungcheong, will introduce regional tourism products linked to nearby international airports. The travel mart will focus on packages designed to keep visitors longer in regional areas, rather than limiting trips to Seoul and other established stops. Separately, 120 Chinese travel agency officials and journalists are taking part in familiarization tours from Sept. 8 to 15, covering routes through Jeju, Busan, Daegu, Andong, Gyeongju, Daejeon and Danyang. Culture Minister Choi Hwi-young will attend a Korea-China tourism industry networking event in Andong on Friday. He will also inspect tourism sites in Andong ahead of the Chuseok holiday, including Andong Old Market, Byeongsan Seowon, Hahoe Village and the Hahoe Seonyu Julbulnori fireworks event. The ministry said the program is part of a broader effort to attract repeat foreign visitors to regional destinations and encourage longer stays. The government has proposed a record 1.76 trillion won ($1.31 billion) tourism budget for 2027, up 19 percent from this year. The plan includes funding for tourism zones centered on regional airports, loans for tourism businesses and local travel vouchers for rural areas facing population decline. AJP Takeaways - Korea and China are holding their first travel industry exchange this week. - The program is aimed at turning Chinese travel demand toward regional destinations outside Seoul. - About 200 people will attend the Incheon event, including Chinese travel agencies and Korean tour operators. 2026-09-10 11:03:21
  • Japanese Baseball Legend Isao Harimoto Passes Away at 86
    Japanese Baseball Legend Isao Harimoto Passes Away at 86 Isao Harimoto, a Korean-Japanese baseball player who became the first in Japanese professional baseball history to achieve 3,000 career hits, has passed away at the age of 86.On September 10, Japanese broadcaster TBS reported, citing sources, that Harimoto died at around 5 p.m. the previous day at a hospital in Tokyo.Born in Hiroshima Prefecture, Harimoto began his professional career in 1959 with the Toei Flyers. He later played for the team that became known as Nittaku Nippon Ham, as well as the Yomiuri Giants and the Lotte Orions.As one of the most prominent sluggers in Japanese baseball, he won the batting title seven times and was the first player in the league's history to reach the milestone of 3,000 hits.After retiring from professional play, he transitioned to a career as a baseball commentator. According to Fuji TV's FNN, he was known for his sharp critiques of younger players, often calling out their performance and attitudes with a commanding presence. His straightforward style made him a familiar figure among fans. 2026-09-10 11:00:00
  • Hwachun County Council Chair Jo Woong-hee Explores Winter Tourism Development in Finland
    Hwachun County Council Chair Jo Woong-hee Explores Winter Tourism Development in Finland Jo Woong-hee, the chair of the Hwachun County Council in Gangwon Province, visited Rovaniemi, Finland, to explore winter tourism and local industry best practices. On September 10, the Hwachun County Council reported that Jo attended the 21st World Winter Cities Mayors' Conference in Rovaniemi with a delegation that included Hwachun County Mayor Kim Se-hoon. On September 7, Jo visited LAPPSET, a global amusement facility company, and Apukka Resort, examining family-oriented tourism facilities and stay-type content that utilize the natural environment. On September 8, during the World Winter Cities Mayors' Conference, he reviewed winter tourism and regional development policies from participating cities. He also assessed the 'Hwachun Sunshine Pension' concept presented by Mayor Kim. This visit focused on comparing overseas examples of utilizing winter climate conditions as tourism and industrial resources with the realities of Hwachun. A key interest is whether existing tourism resources, such as the Sancheoneo Festival, can be expanded into family-oriented amusement facilities, accommodations, and forest content. Jo stated that the examples observed will not only attract tourists but will also be linked to policies aimed at increasing stay duration, local spending, and residents' income. As related projects are developed, the county council will evaluate their feasibility, financial burden, and economic ripple effects through budget reviews, ordinance enactments, and administrative audits. It is noted that rather than directly importing foreign facilities, it is essential to consider Hwachun's population, accessibility, climate, and the potential for integration with existing tourism resources. Jo remarked, “Rovaniemi effectively connects the region's nature and unique content with the tourism industry. I will actively work within the council to ensure that these best practices enhance Hwachun's tourism competitiveness and lead to policies that provide tangible benefits to the local economy.”* This article has been translated by AI. 2026-09-10 10:56:00
  • Grandmother Sues Son for $72,000 in Child Support After Raising Granddaughter for 15 Years
    Grandmother Sues Son for $72,000 in Child Support After Raising Granddaughter for 15 Years A woman in China has filed a lawsuit against her son for approximately 720,000 yuan ($72,000) in child support after raising her granddaughter for 15 years.According to the South China Morning Post, the Shanghai Songjiang District People's Court recently disclosed the case involving a woman in her 60s, identified as Xu, who sued her son, Liang, for 360,000 yuan (about $72,000) in child support.Xu took on the responsibility of raising her granddaughter after her son divorced in 2014 when the child was just four years old. Following Liang's remarriage, the care of the granddaughter fell entirely to Xu, who bore the full financial burden, including daily expenses, medical costs, and educational fees. Xu claimed that her son had failed to fulfill his parental obligations, prompting her to file the lawsuit.After mediation by the court, Xu and her son reached an agreement for him to pay her 200,000 yuan (about $40,000).Liang argued that his monthly income was only 3,000 yuan (about $600), and he had provided support within his means. However, the court ruled in favor of Xu.This case is not isolated; there have been other instances where grandparents have sought child support from their children after caring for grandchildren. In one case, an elderly couple in Beijing filed a claim for 320,000 yuan (about $64,000) for expenses incurred while raising their granddaughter since her first birthday.Additionally, a 59-year-old woman in Hunan Province, who assisted her son with childcare, reportedly lost 20 kilograms and was diagnosed with anxiety disorder within just six months.As a result, there has been a heated debate online regarding 'late-life parenting,' questioning whether it is a familial obligation or a form of caregiving that holds economic value.The South China Morning Post noted that while caring for grandchildren was traditionally viewed as a natural sacrifice and expression of love by grandparents, there is a growing recognition of it as caregiving labor with economic implications.Jiang Liyong, a social welfare scholar from Hubei Province, emphasized the need for families to share living expenses, communicate actively, and expand public childcare services.* This article has been translated by AI. 2026-09-10 10:48:00
  • Interest Grows in Future Transit-Oriented Developments Ahead of New Rail Openings
    Interest Grows in Future Transit-Oriented Developments Ahead of New Rail Openings As new towns with nearby railway stations drive up local property prices, interest in the "future transit-oriented development" blocks is increasing. In these new towns, even with shared amenities like schools, parks, and commercial facilities, residential areas within walking distance to actual railway stations are limited. Consequently, demand for properties near planned railway stations is rising even before their opening.According to Real Estate R114, the price per 3.3 square meters for "Geumdan New Town Woomeelin The Signature" near Ara Station on Incheon Urban Railway Line 1 reached 23.41 million won in the first half of this year, 89.2% higher than the average of 12.37 million won in Geumdan New Town. Major transit-oriented developments in new towns are forming prices above the average for their respective areas.Similarly, the price per 3.3 square meters for "Gwanggyo Nature & Hills State" near Gwanggyo Central Station was 52.78 million won, 25.8% higher than the Gwanggyo New Town average of 41.96 million won. The "Alpharium Complex 1" near Pangyo Station also saw a price of 63.45 million won per 3.3 square meters, exceeding the Pangyo New Town average of 55.29 million won by 14.8%.Demand for properties near stations has also been confirmed in the subscription market. This year, "Hoban Summit Pungmu II," supplied in the Gimpo Pungmu Station area, received 3,072 applications for 533 units in the first round of subscriptions, resulting in an average competition ratio of 5.76 to 1. Following this, "Hoban Summit Pungmu III" attracted 2,443 applications for 266 units, achieving an average of 9.2 to 1.Meanwhile, new supply in future transit-oriented developments continues in the metropolitan area and public housing sites. Namkwang Construction plans to launch "Bucheon Daejang House Story Descent" in Block A-2 of the Bucheon Daejang public housing district in October. This public offering apartment, supplied by a consortium of LH and Namkwang Construction, will consist of 548 units.The development will be located near Daejang Station on the Daejang Hongdae Line, which aims to connect Bucheon Daejang to Hongdae Station in Seoul's Gangseo and Yangcheon districts, covering 20.1 kilometers with 12 stations, with a target opening in 2031. Additional transport networks, including GTX-D and S-BRT, are also planned.Hanwha Construction plans to offer "Hanwha Forena Gije Station" in Pyeongtaek's Segyo-dong in October, consisting of 1,098 units, allowing residents to enjoy the Gije Station living area. Posco E&C will launch "The Shop Cheonan Lacone" in the Buseong 2 urban development area in Cheonan, while Lotte Construction will offer "Gyeonggi Gwangju Station Lotte Castle Signature Complex 2" in Sangnyeong-dong, Gwangju, also in October.As the premium for transit-oriented developments is reflected in prices and subscription results even before the railway network opens, factors such as distance to planned stations, transfer capabilities, and the development of surrounding commercial and business areas are expected to be key considerations in the new town sales market.* This article has been translated by AI. 2026-09-10 10:44:20
  • Hana Financial Group Revamps School Commute Path in Incheon with Employee Participation
    Hana Financial Group Revamps School Commute Path in Incheon with Employee Participation Hana Financial Group announced on September 10 that over 30 employees participated in a volunteer activity to create a mural along the commute path at Bongsu Elementary School in Incheon, in collaboration with award-winning artists from the 'Hana Art Bus' competition for individuals with developmental disabilities.The volunteer event, held on September 9, aimed to improve the educational environment by decorating the aging walls of the commute path with murals featuring the works of artists with developmental disabilities. This path is used by students during their daily commutes.Notably, artist Lee Do-won, who received an excellence award in the children's and youth category of the 'Hana Art Bus' last year, participated in the event. After receiving training on painting techniques and safety protocols, Lee and the Hana Financial employees worked for about three hours on the mural.A representative from Hana Financial stated, "It is significant that we have added new value to the community's everyday spaces, and we will continue to engage in various volunteer activities that the community can feel."* This article has been translated by AI. 2026-09-10 10:44:00
  • Lotte Wellfood Teams Up with Stray Kids to Promote Pepero Day
    Lotte Wellfood Teams Up with Stray Kids to Promote Pepero Day Lotte Wellfood is collaborating with global ambassadors Stray Kids to promote Pepero Day worldwide.Lotte Wellfood announced that the digital single 'November 11,' created in partnership with Stray Kids, will be released on September 10 at 1 PM on both domestic and international music platforms.The new song centers on the core value of Pepero, 'sharing,' and the theme of Pepero Day on November 11. It expresses moments of sharing feelings while exchanging Pepero, set against a refreshing band sound. Stray Kids member Han participated in writing and composing the track.Lotte Wellfood aims to use this music collaboration as part of its cultural marketing strategy to promote Pepero Day, which originated in Korea, to international audiences. Stray Kids was appointed as the global ambassador for Pepero last May and extended their contract in April.Since 2020, Lotte Wellfood has conducted annual global campaigns aligned with Pepero Day. Through collaborations like this with Stray Kids, the campaign's reach has expanded from 35 regions last year to 15 regions in 2024. During the same period, Pepero exports increased by approximately 25%, rising from 70 billion won to 87 billion won.Online marketing efforts will accompany the song's release. The official Pepero social media accounts will host a streaming certification event, offering prizes through a lottery for participants. A teaser video for this year's global Pepero Day campaign, featuring the new song, will be released on November 11.Lotte Wellfood plans to continue its Pepero marketing in existing key markets such as the United States and Southeast Asia while expanding into Europe, East Asia, and India.A representative from Lotte Wellfood stated, "Through our collaboration with Stray Kids, we aimed to convey the warm-hearted culture of sharing that is central to Pepero to consumers worldwide. We will continue our global marketing efforts to promote Pepero as a representative brand symbolizing K-culture."* This article has been translated by AI. 2026-09-10 10:44:00
  • AI for All starts work at SK Telecom
    'AI for All' starts work at SK Telecom SEOUL, September 10 (AJP) - SK Telecom set out to build an artificial intelligence assistant that books the hospital slot, files the government form and pays the bill in one conversation, one of three such services South Korea has commissioned. Partners across eight fields joined the launch at the carrier's T Tower headquarters in central Seoul on Thursday. Areas spanned from education, finance, to public administration and welfare checks on older people living alone. The announcement comes two weeks after the Ministry of Science and ICT and the National IT Industry Promotion Agency selected the SK Telecom, Kakao and KT consortiums on Aug. 28 to run the AI for All project. "With companies representing so many fields gathered here, we will properly build a nationwide AI ecosystem that exists nowhere else in the world," said Yoo Kyung-sang, head of SK Telecom's AI CIC. SK Telecom will serve as orchestrator, matching each request to the model and partner service best suited to it rather than building every function itself. The project funded by the government aims to give the public free access to domestically built AI ahead of a full launch before year-end. It also aligns with Seoul pressing for sovereign AI. Korea launched a separate foundation-model competition that has narrowed to SK Telecom, LG AI Research and Upstage, arguing the country cannot lean on foreign models alone if it is to rank among the world's top three AI powers. AJP Takeaways - SK Telecom opened its AI for All consortium on Sept. 10, 2026, at its Seoul headquarters, bringing together partners in eight fields to build an AI agent that completes administrative filings, payments and hospital bookings. - SK Telecom will act as orchestrator on its A.X K2 foundation model, with a beta service due in October 2026 and a full launch before the end of the year. - The Ministry of Science and ICT and the National IT Industry Promotion Agency chose the SK Telecom, Kakao and KT consortiums on Aug. 28, 2026, to run the project, an extension of South Korea's sovereign AI push. 2026-09-10 10:37:13