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  • LS Electric Signs MOU with Korea Midland Power for Renewable Energy Development
    LS Electric Signs MOU with Korea Midland Power for Renewable Energy Development LS Electric and Korea Midland Power have established a collaborative framework to jointly explore and develop renewable energy projects, covering all stages from investment and construction to operation. The partnership aims to enhance the speed and viability of new renewable energy projects by leveraging Korea Midland Power's experience in power generation and LS Electric's expertise in electrical equipment, design, procurement, and construction (EPC).On September 9, LS Electric announced that it had signed a strategic memorandum of understanding (MOU) with Korea Midland Power to strengthen competitiveness in domestic renewable energy projects.The two companies will initially focus on identifying joint projects in onshore wind power, with plans to expand their collaboration to include solar energy and battery energy storage systems (BESS). They will work together across all phases of project development, investment, financing, EPC execution, and power plant operation.In the jointly developed projects, LS Electric will actively consider its participation in EPC and the application of key electrical equipment such as transformers. Additionally, LS Electric will be prioritized for equipment supply in projects that Korea Midland Power undertakes independently.Korea Midland Power has set a goal to increase its renewable energy capacity to 2,915 MW by 2030. In February of this year, it secured a long-duration BESS project in Haenam, Jeollanam-do, with a capacity of 96 MW and 576 MWh. LS Electric has also gained experience in the EPC and power conversion device sectors, recording 61.2 billion won in orders for its ESS projects in Japan last year, laying the groundwork for collaboration that extends from wind power to storage systems.This partnership is characterized by the involvement of both companies from the early stages of project development, rather than merely supplying equipment. The development of renewable energy power plants requires collaboration between project developers and power infrastructure companies, especially in securing permits, financing, and ensuring stable operations.Park Woo-beom, Executive Vice President of LS Electric's EA Business Division, stated, "By combining Korea Midland Power's capabilities in project development, investment, and operation with LS Electric's EPC execution capabilities and electrical equipment technology, we will enhance the competitiveness of the entire value chain in renewable energy projects. We aim to lead the supply of key electrical equipment for renewable energy and power infrastructure with domestic technology, contributing to technological independence and the transition of the national energy paradigm." 2026-09-10 08:24:00
  • Samsung Fire & Marine Insurance Launches Consumer Protection Initiative
    Samsung Fire & Marine Insurance Launches Consumer Protection Initiative Samsung Fire & Marine Insurance is taking steps to reduce incomplete sales in the insurance process by conducting consumer protection checks at sales sites.On September 10, the company announced it will hold a "Complete Sales Event" aimed at raising awareness of consumer protection and establishing a culture of complete sales.The event is designed to allow sales organizations to review essential consumer protection measures, such as the delivery of policy terms and key content explanations that must be adhered to during the insurance sales process.To facilitate learning of consumer protection rules, Samsung Fire & Marine Insurance has developed programs that include comics and songs created using AI.This initiative marks the final phase of the company's "Three-Stage Customer-Centric Management Practice Series," which began in 2025. The first stage involved the consumer policy team, while the second stage focused on personnel responsible for consumer protection across the organization. The final stage expands the target audience to sales organizations that interact directly with consumers.A company representative stated, "It is important to identify and improve potential issues before they cause customer inconvenience, and we will strengthen consumer protection activities centered on customers throughout the entire process from product development to sales and compensation."* This article has been translated by AI. 2026-09-10 08:20:10
  • Samsung Securities Receives Approval for Issuing Commercial Paper, Intensifying Competition Among Eight Brokerages
    Samsung Securities Receives Approval for Issuing Commercial Paper, Intensifying Competition Among Eight Brokerages On September 9, the Financial Services Commission held its 15th regular meeting and announced that it had reviewed and approved Samsung Securities' application for a short-term financial business license under Article 360 of the Capital Markets Act. This approval allows Samsung Securities to utilize funds raised through commercial paper for corporate finance and venture capital investments.Commercial paper is a short-term financial product that can be issued by large investment banks with a capital of over 4 trillion won, subject to approval from financial authorities. For brokerages, it serves as a key funding tool to raise capital from clients for corporate finance and venture capital investments.According to industry reports, the outstanding balance of commercial paper issued by domestic brokerages was recorded at 55.9291 trillion won at the end of the second quarter of this year, marking an increase of 11.538 trillion won, or 26.0%, from 44.3912 trillion won at the end of the same quarter last year.As more brokerages, including Meritz Securities, seek to enter the commercial paper market, competition is expected to intensify. Analysts suggest that the entry of new players could lead to increased competition in interest rates and products among brokerages.However, there are concerns that the expansion of the market may also increase the burden of fund management for brokerages. Since funds raised through commercial paper must achieve a certain level of profitability, managing the balance between funding rates and investment returns will become increasingly important as competition intensifies.Major ReportsLeading stocks are likely to benefit from holding positions rather than realizing profits if they succeed in rebounding, according to Shinhan Investment Corp. In September, leading stocks from the first half of the year, particularly in semiconductor and artificial intelligence (AI) capital expenditures, are attempting to rebound. Meanwhile, underperforming stocks that outperformed in July and August are taking a breather.Expectations are high for favorable market conditions for leading stocks in September and October. The reason leading stocks did not reflect their performance and valuation advantages in July and August was due to heightened volatility and unliquidated residual leverage.Volatility has significantly decreased in September, creating opportunities for performance-driven plays. Seasonal trends are favorable for leading stocks in September and October. However, a rebound trigger is needed, and it appears that OpenAI's Astra has acted as that trigger.It is now time to consider the next steps. If the performance and valuation advantages of leading stocks do not drive a rebound despite reduced volatility, it may indicate a structural change in the market compared to the past three years. If the leading stocks fail to rebound in September and October, a new market framework may be necessary.If leading stocks rebound due to new supply and demand dynamics in September and October, they could return by the end of the year, leading to a continuous rise. If leading stocks rise, holding positions or pursuing additional purchases may be more advantageous than realizing profits.Key Announcements After Market Close (September 9)Barunson E&A announces a capital increase of 2.63 billion won, allocating shares to MI Company and others.CSA Cosmic announces the additional acquisition of 4.1 billion won in PLO Fund shares, achieving a 100% stake.Nexada Dynamics announces a capital increase of 30 billion won, allocating shares to a third party, Siwon Innotech.Fund Trends (as of September 8, excluding ETFs)Domestic equity funds: -5.5352 trillion wonOverseas equity funds: 392.1 billion wonKey Schedule for Today (September 10)South Korea: Unemployment rate (August)China: Consumer Price Index (August), Producer Price Index (August)* This article has been translated by AI. 2026-09-10 08:20:00
  • 49 Diplomats in South Korea Avoid Prosecution Due to Diplomatic Immunity
    49 Diplomats in South Korea Avoid Prosecution Due to Diplomatic Immunity In the past five years, 49 foreign diplomats in South Korea have evaded prosecution for crimes due to diplomatic immunity, according to recent data.On September 10, political sources reported that the Ministry of Foreign Affairs submitted information to the National Assembly's Foreign Affairs and Unification Committee, indicating that from 2022 to July 2026, there were 49 incidents involving diplomatic envoys (10 in 2022, 13 in 2023, 10 in 2024, 13 in 2025, and 3 from January to July this year).The types of crimes varied, including traffic violations, sexual assault, assault, and theft. Additionally, incidents involving family members of diplomats were recorded as 5, 2, 3, 1, and 1 for the respective years. These figures reflect cases reported to law enforcement and subsequently communicated to the Ministry of Foreign Affairs. The actual number may be higher, as unreported crimes are not included.The Vienna Convention on Diplomatic Relations states that diplomatic agents are exempt from the jurisdiction of the receiving state's civil, criminal, and administrative courts. Consequently, foreign diplomats and their families stationed in South Korea cannot be prosecuted under domestic law for crimes committed in the country. Police may conduct voluntary investigations with the consent of the individuals involved, but if the sending country does not waive immunity, the case is typically closed with a determination of 'no prosecution.'However, if an individual refuses to confirm their identity, they are treated like any other foreign national involved in a crime.* This article has been translated by AI. 2026-09-10 08:20:00
  • President Lees Approval Rating Drops to 38.2%, Support Withdrawal at 28.4%
    President Lee's Approval Rating Drops to 38.2%, Support Withdrawal at 28.4% Recent polling indicates that President Lee Jae-myung's approval rating has fallen to the high 30s. The survey also revealed that 28.4% of respondents who previously supported the president no longer do so. On September 10, Media Tomato, commissioned by News Tomato, released results from a survey conducted on September 7-8, which included 1,035 adults aged 18 and older nationwide. The poll found that 38.2% of respondents rated the president's governance positively, while 58.8% expressed disapproval, and 3.0% were unsure. Compared to the previous survey conducted on August 22-23, the positive rating decreased from 40.0% by 1.8 percentage points, while the disapproval rating increased from 54.9% by 3.9 percentage points. When asked about changes in their support for the president, 28.4% of respondents indicated they had supported him in the past but no longer do. Additionally, 31.4% stated they continue to withhold their support, bringing the total of those not supporting the president to 59.8%. Conversely, 27.6% of respondents said they still support the president, while 9.6% indicated they did not support him in the past but do now. The total percentage of current supporters is 37.2%, with 3.1% unsure. The withdrawal of support was particularly notable among respondents in their 30s, 40s, and 50s, with over 30% in each age group indicating they had previously supported the president but no longer do. Similar responses were recorded in the metropolitan area, Chungcheong region, Honam, and Busan-Ulsan-Gyeongnam, with around 30% reporting the same. Among progressive voters, over 30% and more than 70% of supporters of the Justice Party indicated they had withdrawn their support. Regarding ministerial appointments, opposition was prevalent. A total of 55.7% opposed the appointment of Kim Seung-won as Minister of Justice, while 73.4% opposed the appointment of Yong Hye-in as Minister of Gender Equality and Family. This survey was conducted using an automated response system (ARS RDD) with randomly generated mobile phone numbers. The margin of error is ±3.0 percentage points at a 95% confidence level. Detailed survey information and results can be found on the website of the National Election Survey Deliberation Commission.* This article has been translated by AI. 2026-09-10 08:00:00
  • Government to Tighten Supply of Knowledge Industry Centers Amid 43% Vacancy Rate
    Government to Tighten Supply of Knowledge Industry Centers Amid 43% Vacancy Rate As the average vacancy rate of recently completed knowledge industry centers exceeds 40%, the government has decided to regulate new supply and significantly ease entry restrictions for businesses. Centers with high vacancy rates will be supported in converting to rental housing or officetels. The Ministry of Trade, Industry and Energy announced these measures during a meeting of the Emergency Economic Headquarters and the Ministerial Meeting on Structural Innovation on September 10. There are 1,553 knowledge industry centers approved for establishment nationwide. Among these, the average vacancy rate for centers completed between 2023 and 2025 is 43.5%, with an unsold rate of 26.9%. The number of auctions last year reached a record high of 3,876 due to loan suspensions and falling market prices. The government will first manage supply from the new establishment phase. Local governments will be required to comprehensively review the vacancy and unsold status of nearby centers, the impact on the commercial sales and rental market, and the conditions of infrastructure such as electricity and water when approving the establishment of knowledge industry centers. A new procedure will be established requiring local governments to notify the Ministry of Trade, Industry and Energy of their application before approval, allowing the ministry to provide feedback. Local governments will also be required to investigate and publicly disclose the vacancy and unsold rates of their respective knowledge industry centers every six months. To reduce vacancies in existing knowledge industry centers, the government will promote conversion for other uses. In the metropolitan area, vacant centers will be utilized as public rental housing for youth and newlywed couples through the LH non-residential remodeling rental housing project. In non-metropolitan areas, vacant centers will be included in public rental-type knowledge industry centers and remodeling projects for closed or abandoned factories. The proportion of support facilities that can be used for commercial and convenience purposes will be expanded for centers that have already received establishment approval for two years. In industrial complexes within the metropolitan area, this will increase from 30% to 50%, and in non-metropolitan areas, from 50% to 70%. The government will also support the conversion of centers with high vacancy and unsold rates to quasi-residential use. The temporary conversion of office buildings in general industrial areas will be allowed, and the obligation to secure additional parking spaces during the change of use will be temporarily exempted. Remodeling for officetels and dormitories will receive loan support of up to 70 million won per unit at an interest rate of around 3% for a maximum of 14 years, and a new HUG mortgage guarantee will be established for quasi-residential conversion projects. Entry regulations for businesses will shift to a 'negative list' approach. Previously, entry was allowed primarily for specified manufacturing and knowledge and information communication industries, but now, businesses can enter unless they fall under restricted categories such as gambling and harmful facilities, environmentally burdensome industries, and hazardous materials facilities. This change will allow new industries, such as AI application development, urban micro-fulfillment centers (MFCs), and drone photography services, which previously had unclear entry status, to establish themselves. The interpretation criteria for support facilities will also be revised to allow entry for businesses, not limited to employees of the tenant companies. The management system for knowledge industry centers inside and outside industrial complexes will also be revised. Knowledge industry centers within industrial complexes will be allowed to lease before completing factory establishment or reporting business commencement, and the existing tenant contract procedures will be simplified to a tenant reporting method. A new tenant reporting system will be introduced for knowledge industry centers outside industrial complexes, which previously had no separate tenant management procedures. Additionally, the government will solicit public opinion on whether to change the name of 'knowledge industry center' and strengthen management during the sales process. Before approving recruitment announcements, the installation of sales promotion centers will be required, and pre-sales to more than two individuals before usage approval will be prohibited. The government plans to implement measures to alleviate vacancies in knowledge industry centers while closely monitoring market conditions. If unforeseen market overheating or other side effects are detected, necessary supplementary measures, including a review of regulatory easing, will be promptly pursued. Minister of Trade, Industry and Energy Kim Jeong-kwan stated, "As knowledge industry centers are facing difficulties due to oversupply and accumulated vacancies, we will establish a supply-demand adjustment system while boldly innovating entry regulations to respond to industrial changes such as AI and digital transformation. We will swiftly implement policies through amendments to related laws so that they can be felt on the ground." * This article has been translated by AI. 2026-09-10 07:44:00
  • Customs Agency Strengthens Crackdown on Trade-Based Financial Crimes
    Customs Agency Strengthens Crackdown on Trade-Based Financial Crimes The Customs Agency is intensifying its crackdown on financial crimes based on trade, including the manipulation of import and export data to fraudulently obtain government subsidies and policy financing, as well as inflating corporate value in capital markets.On September 10, the Customs Agency announced that it, along with relevant ministries, has defined financial crimes based on trade manipulation as 'Trade-Based Financial Crimes (TBFC)' and is operating an integrated joint inspection and enforcement system.This decision comes as trade crimes have expanded beyond mere customs evasion to include government subsidies, capital markets, public procurement, and policy financing. Recent cases highlighted include inflating export and import figures to boost sales disclosures and stock prices, as well as misrepresenting low-cost foreign products as domestic goods for public procurement.The Customs Agency will initially focus on four areas: capital market disruptions, fraudulent public procurement, improper receipt of government subsidies, and exploitation of policy and trade financing.In the capital markets, the agency will investigate companies that manipulate export figures to avoid delisting or to inflate figures for new listings. It plans to analyze companies suspected of manipulating export data around market actions such as designation as an unfaithful disclosure company, investment warnings, management item designations, and delistings, as well as checking for export data manipulation among new listing and review companies on platforms like KOSDAQ and KONEX.In public procurement, the focus will be on companies that misrepresent low-priced imports as domestic products. This involves registering items as domestically produced while actually supplying imported goods to profit from the price difference. The Customs Agency will analyze relevant items and companies and conduct joint inspections with the Public Procurement Service regarding origin verification. Actions involving the manipulation of export figures to qualify for the Public Procurement Service's excellent company designation will also be scrutinized.In the area of government subsidies, the agency will analyze the export figures of companies applying for subsidies, as these figures are used to determine eligibility and the scale of support. The aim is to prevent cases where companies inflate their export figures to receive subsidies. The Customs Agency will share information with the Ministry of SMEs and Startups and other relevant departments to verify any manipulation of export figures before and after applications. It has already begun inspections on 16 companies among the three support program targets of the Ministry of SMEs and Startups.In the policy and trade financing sector, the agency will check for manipulation of export figures to increase loan limits or receive interest benefits, as well as the use of false trade documents to obtain financial support. The Customs Agency plans to share information with policy financing institutions such as national policy banks and analyze financial support details from organizations like the Korea Trade Insurance Corporation and private banks to verify any manipulation of trade documents like letters of credit.To facilitate this, the Customs Agency will operate a special investigation team for TBFC, led by the head of the investigation division. This team will be composed of the TBFC information analysis center and departments related to investigations and foreign exchange investigations. It will receive information from relevant agencies about companies listed in capital markets, public procurement contracts, subsidy recipients, and policy financing beneficiaries to identify suspicious companies for inspection and investigation. The results of these crackdowns will be shared with relevant agencies to lead to sanctions and institutional improvements.The Customs Agency plans to share the progress of these crackdowns with the Ministry of SMEs and Startups, the Public Procurement Service, and the Korea Trade Insurance Corporation, and will establish a basis for institutionalizing a collaborative system. It is considering signing a memorandum of understanding (MOU) for joint work among relevant agencies, and if necessary, will pursue measures to specify the basis for information provision in customs laws.A Customs Agency official stated, 'We will share information with relevant agencies and link inspections and crackdowns to block actions that disrupt national finances or capital markets through trade manipulation.'* This article has been translated by AI. 2026-09-10 07:44:00
  • Corporate Earnings Show Improvement Across Sectors Driven by Semiconductor Boom
    Corporate Earnings Show Improvement Across Sectors Driven by Semiconductor Boom Corporate earnings improved in the second quarter of this year, extending beyond the semiconductor sector. While Samsung Electronics and SK Hynix significantly boosted overall performance, growth and profitability in manufacturing also showed improvement even without these companies. The semiconductor-driven economic upswing appears to be spreading across various industries, with non-manufacturing revenue growth accelerating and the construction sector returning to growth for the first time in eight quarters.According to the Bank of Korea, the overall revenue growth rate for companies in the second quarter was 26.7% when including Samsung Electronics and SK Hynix, but dropped to 12.0% when excluding them. The operating profit margin also fell from 16.9% to 6.2%. The strong performance of the semiconductor giants is interpreted as a key factor driving the highest profitability levels for companies overall.The impact of semiconductor companies was also significant in manufacturing. The revenue growth rate for manufacturing was 39.6% when including these two companies, but decreased to 14.0% when they were excluded. The operating profit margin dropped from 24.0% to 7.2%. However, even without Samsung Electronics and SK Hynix, revenue and profitability improved, indicating a continued recovery trend in the manufacturing sector. Notably, the revenue growth rate for manufacturing, excluding these two companies, was higher than that of non-manufacturing (9.7%).Lee Mi-joo, head of the corporate statistics team at the Bank of Korea, stated, "The operating profit margin for manufacturing, excluding Samsung Electronics and Hynix, is 7.2%. The gap between manufacturing and non-manufacturing is not that large, and both sectors are moving in a similar direction." She emphasized that even without these companies, growth and profitability are improving across the board.The recovery in non-manufacturing was also evident. The revenue growth rate for non-manufacturing rose from 3.7% in the previous quarter to 9.7%, an increase of 6.0 percentage points. The transportation sector improved from 8.1% to 13.6%, while retail saw an increase from 7.1% to 13.7%. The expansion of revenue growth in non-manufacturing indicates that the recovery that began in manufacturing is now spreading to the service sector.Particularly, the increase in retail revenue is attributed to the growth of semiconductor-related distribution and the recovery of private consumption. The revenue growth rate for retail surged from 7.1% in the previous quarter to 13.7%. Some semiconductor distribution companies showed remarkable growth, while department stores and other consumer-related businesses also experienced significant revenue increases. The effects of the semiconductor boom are spreading to the retail sector, alongside a recovery in consumption-related industries.The construction sector also showed signs of recovery. The revenue growth rate for construction improved from -4.0% in the previous quarter to 0.3%, marking a return to growth for the first time in eight quarters. This change reflects an increase in construction volume related to large-scale facility investments, such as semiconductor plants.However, the increase in revenue has not directly translated into improved profitability. The operating profit margin for non-manufacturing slightly decreased from 5.1% in the second quarter of last year to 5.0% this year. The operating profit margin for the transportation sector fell from 7.0% to 4.8%, and the electric and gas sector dropped from 5.0% to 3.9%. In contrast, the operating profit margin for construction improved from 3.9% to 6.2%.Business sentiment is improving. In August, the manufacturing corporate business sentiment index (CBSI) rose to 103.8, an increase of 0.6 points from the previous month. The outlook for the next month also increased by 2.0 points to 102.5. The non-manufacturing CBSI rose to 96.7, up 1.5 points from the previous month, with the outlook for the next month increasing by 3.9 points to 97.6. In non-manufacturing, improvements in revenue and financial conditions have been key factors boosting business sentiment.Lee noted, "The 9.7% revenue growth rate for non-manufacturing is not low. In manufacturing, excluding Samsung Electronics and SK Hynix, the gap in revenue growth rates compared to non-manufacturing has significantly narrowed."* This article has been translated by AI. 2026-09-10 07:28:00
  • Semiconductor Boom Drives Corporate Profit Margins to Record Highs
    Semiconductor Boom Drives Corporate Profit Margins to Record Highs In the second quarter of this year, the profitability of South Korean companies soared to its highest level since statistics began being compiled. The semiconductor boom, driven by increased investment in artificial intelligence (AI), significantly boosted the performance of the manufacturing sector, leading to a sharp upward trend in overall corporate sales and operating profits. Companies' financial health has also improved, indicating simultaneous growth and profitability.According to the Bank of Korea's report on the '2026 Q2 Corporate Management Analysis' released on September 9, the operating profit margin for all surveyed companies reached 16.9%. This marks an increase of 11.8 percentage points from 5.1% in the second quarter of last year, the highest level since the first quarter of 2015. Just one quarter after recording a historic high of 13.2% in Q1, this new figure sets another record.Growth has also seen significant improvement. The overall sales growth rate for companies rose to 26.7%, up 13.2 percentage points from 13.5% in the previous quarter. The sales growth rate for the manufacturing sector increased from 21.1% to 39.6%, while the non-manufacturing sector rose from 3.7% to 9.7%.The semiconductor boom has been a key driver of high growth in manufacturing. The operating profit margin for the manufacturing sector jumped from 5.1% in the second quarter of last year to 24.0% this year, an increase of 18.9 percentage points. This is also the highest level recorded since the statistics began being compiled.By industry, the machinery and electrical/electronic sectors saw the most significant improvement in profitability. The operating profit margin for this sector surged from 7.4% in the second quarter of last year to 43.0% this year. The operating profit margin for the electronics, video, and communication equipment sector rose to 51.3%. The sales growth rate for machinery and electrical/electronic increased from 52.1% to 88.5%, while the electronics, video, and communication equipment sector rose from 75.7% to 119.7%.As the semiconductor market remains strong, the increase in operating profits has outpaced sales growth, demonstrating the operating leverage effect. Due to the high fixed cost structure of the semiconductor industry, increased production and sales have led to a greater conversion of additional sales into profits.The petroleum and chemical sectors also saw improvements in profitability, with the operating profit margin rising from 2.5% last year to 9.5% this year. Analysts attribute this positive impact to improved refining margins amid the ongoing conflict in the Middle East.While the non-manufacturing sector experienced expanded sales growth, profitability slightly declined. The operating profit margin for non-manufacturing fell from 5.1% last year to 5.0%. In the service sector, the operating profit margin for transportation dropped from 7.0% to 4.8% due to rising costs from high oil prices and detours, while the electric and gas sector fell from 5.0% to 3.9%.By company size, large corporations showed notable performance improvements. The operating profit margin for large companies rose from 5.1% last year to 19.1% this year, an increase of 14.0 percentage points. In contrast, small and medium-sized enterprises saw a modest increase from 5.0% to 5.3%. The sales growth rate for large companies increased from 16.0% to 30.5%, while small and medium-sized enterprises rose from 2.4% to 10.2%.Overall financial stability has also improved. The debt ratio for all companies decreased from 87.0% in the previous quarter to 84.5%, and reliance on borrowed funds fell from 23.9% to 22.8%. The debt ratio for the manufacturing sector dropped from 68.0% to 65.7%, while the non-manufacturing sector decreased from 122.9% to 120.2%. Large companies' debt ratio also fell from 83.8% to 79.8%. However, the debt ratio for small and medium-sized enterprises increased from 103.0% to 112.1%, indicating disparities in financial conditions by company size.Looking ahead, there is interest in whether the performance improvements centered around semiconductors will continue in the second half of the year. Im Ji-u, head of the Bank of Korea's corporate statistics team, stated, "Based on strong demand for AI investment, the semiconductor market is expected to remain robust, and demand is likely to show signs of recovery, leading to continued improvements in overall indicators centered around semiconductor manufacturing." However, he cautioned that uncertainties related to the situation in the Middle East and U.S. tariff policies remain high, so trends should be monitored closely.* This article has been translated by AI. 2026-09-10 07:24:10
  • Body of Missing Crew Member Found After Busan Tugboat Capsize
    Body of Missing Crew Member Found After Busan Tugboat Capsize One of the six crew members missing after the capsizing of the tugboat TNS Catcher off the coast of Busan has been found dead, seven days after the incident.According to Yonhap News and the Coast Guard, a sanitation worker discovered the body on the beach in front of a restroom at Dogu Beach in Pohang, North Gyeongsang Province, at 8:48 a.m. on September 9.Upon receiving the report, the Coast Guard conducted digital forensics on a mobile phone and smartwatch found with the body, confirming that it belonged to the missing crew member, identified as A.A was the second engineer of the TNS Catcher, and it took more than 12 hours to confirm his identity.The Coast Guard stated, "Standard fingerprint analysis was insufficient for identification, and we confirmed the identity through a one-to-one detailed fingerprint comparison with the second engineer's prints."The TNS Catcher capsized on September 2 while towing a container ship, M, that had suffered engine failure approximately 9 kilometers east of Oryukdo, Busan.During the incident, one Indonesian crew member was rescued, while a Korean crew member was found unconscious and later died. At the time of the accident, six crew members were reported missing, leaving five still unaccounted for after A's body was recovered.The rescued Indonesian crew member reported seeing another crew member jump from the TNS Catcher during the incident, and the Coast Guard believes that individual was A.* This article has been translated by AI. 2026-09-10 07:08:00