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  • Lee, Macron pledge efforts to restore Strait of Hormuz
    Lee, Macron pledge efforts to restore Strait of Hormuz SEOUL, September 9 (AJP) - South Korean President Lee Jae Myung agreed with French President Emmanuel Macron to coordinate closely on international efforts to restore freedom of navigation in the Strait of Hormuz and stabilize global supply chains during their summit in Paris on Tuesday. In a joint press conference after the summit at the Élysée Palace, Lee said South Korea and France would continue close coordination to help restore freedom of navigation in the strategic waterway "as soon as possible." He also recalled a meeting in April led by France and the U.K., during which Seoul expressed its willingness to cooperate, reaffirming its intention to join international efforts. Macron also pledged to cooperate on a multinational mission to reopen the strait, stressing the importance of protecting freedom of navigation and finding a peaceful solution. Neither leader, however, referred to a military deployment or disclosed whether troops, naval assets or other equipment would be involved. A senior Cheong Wa Dae official also told reporters in Paris that the two leaders' discussions focused on how Seoul could contribute to international cooperation rather than on sending troops. The official added that South Korea and France exchanged views on Seoul's willingness to make a practical contribution, while reviewing options, with "nothing decided." Meanwhile, the Defense Ministry here sent a team of officials to the United Arab Emirates (UAE) the previous day to assess the security situation around the strait. But the ministry said the dispatch was not intended as a step toward deploying troops there and denied reports that the U.S. had asked South Korea to send military assets to the region, stressing again that no decision had been made. For now, South Korea supports international efforts to protect freedom of navigation and global supply chains, while leaving open how it will contribute. Among other issues, South Korea and France also discussed ways to further strengthen biliteral cooperation as they mark the 140th anniversary of the establishment of diplomatic ties. "Based on the deep friendship and trust built over the past 140 years, we agreed to open a new chapter for the next 140 years," Lee said. The two countries also signed around 16 memorandums of understanding (MOUs) covering defense, trade, nuclear energy, artificial intelligence (AI), quantum technology, semiconductors and other areas. AJP Takeaways - South Korean President Lee Jae Myung and French President Emmanuel Macron agreed on Sept. 8, 2026, to coordinate international efforts to restore freedom of navigation in the Strait of Hormuz and stabilize global supply chains. - South Korea has not decided whether to deploy troops or military assets to the Strait of Hormuz. Seoul said it is reviewing possible contributions, while France backed a peaceful multinational mission to reopen the strategic waterway. - South Korea and France agreed to deepen broader bilateral cooperation as they mark the 140th anniversary of diplomatic ties, signing around 16 memorandums of understanding covering defense, trade, nuclear energy, artificial intelligence, quantum technology and semiconductors. 2026-09-09 09:15:23
  • Kia Launches Customized Era for Purpose-Built Vehicles with PV5, PV7, and PV9
    Kia Launches Customized Era for Purpose-Built Vehicles with PV5, PV7, and PV9 Kia is accelerating its entry into the personalized mobility market with a two-track strategy that includes advanced production technology at its purpose-built vehicle (PBV) dedicated smart factory and the production of customized conversion models. On September 9, Kia announced that it held a PBV production hub tech day at AutoLand Hwaseong in Gyeonggi Province the previous day. The event's slogan was, 'Where all possibilities begin, Kia PBV production hub.' During the event, Kia presented various advancements, including robotics technology applied across assembly, logistics, and inspection processes; a data-driven quality management system; a dedicated development system for conversion linked to base vehicle development; the current status of PBV conversion center operations; and support measures for external specialty vehicle manufacturers. The PV5 has sold over 39,000 units globally as of last month, demonstrating Kia's vision for personalized mobility. Despite entering the competitive European light commercial vehicle market as a latecomer, inquiries about the large electrified PBV model 'PV7,' set to launch next year, continue to grow. AutoLand Hwaseong will also be responsible for the production of the PV7 and PV9. Kia plans to establish itself as a PBV production hub that provides high-quality, customized vehicles based on advanced production technology and a flexible conversion system. Kia is implementing a multi-model flexible production system, optimal automation systems, and a data-driven next-generation quality management system at its PBV dedicated factory, 'Hwaseong EVO Plant.' This approach aims to effectively respond to the diverse PBV demands based on customers' various purposes and usage environments. Soeun Young, Executive Director of Kia's AutoLand Hwaseong plant, stated, "AutoLand Hwaseong is more than just a vehicle manufacturing plant; it is a PBV production hub that realizes the diverse ideas and needs of customers and partners into mobility solutions. We will continue to enhance smart manufacturing technologies and the conversion ecosystem to provide customers with broader choices and create various possibilities in mobility with our partners." Meanwhile, Kia will unveil the PV7 for the first time at the 'IAA Transportation 2026' event in Hanover, Germany, on September 14.* This article has been translated by AI. 2026-09-09 09:12:20
  • Sangsangin Securities Shares Drop Over 6% on First Day After Stock Consolidation
    Sangsangin Securities Shares Drop Over 6% on First Day After Stock Consolidation Sangsangin Securities experienced a decline of over 6% on the first day of trading following its stock consolidation. As of 9:03 a.m., shares were trading at 4,745 won, down 305 won (6.04%) from the previous trading day.On this day, Sangsangin Securities conducted a change in listing due to the stock consolidation, merging its par value from 1,000 won to 5,000 won. This reduced the number of shares from 100,837,120 to 21,667,424, effectively a one-fifth decrease. Consequently, the stock price was adjusted to reflect the consolidation ratio, changing from 1,010 won to approximately 5,050 won.Prior to the consolidation, Sangsangin Securities saw its stock rise by 8.72% to 1,010 won on August 20, after which trading was halted for the consolidation. With the resumption of trading on this day, the stock price is undergoing adjustments.Sangsangin Securities, which had previously reported losses, is showing signs of improvement. The company achieved a cumulative net profit of 11.1 billion won in the first half of the year, marking two consecutive quarters of profitability. In contrast, it recorded a net loss in the first half of the previous year but has turned a profit across all operational sectors this year. Market attention is also focused on the potential sale of shares by Sangsangin, the company's largest shareholder. On September 6, Sangsangin Securities stated regarding reports of Shinhyup Bank's interest in acquiring the company that "there are currently no concrete agreements," but confirmed that discussions regarding the share sale are ongoing with Shinhyup Bank.* This article has been translated by AI. 2026-09-09 09:12:00
  • UK Prime Minister Burnham Seeks Highest Level of Cooperation with Xi Jinping
    UK Prime Minister Burnham Seeks Highest Level of Cooperation with Xi Jinping UK Prime Minister Andy Burnham expressed his desire to establish the highest level of cooperation with Chinese President Xi Jinping. Xi spoke with Burnham on the evening of September 8, according to China's state-run Xinhua News Agency.This was Burnham's first conversation with Xi since taking office on July 20. On his first day in office, Burnham spoke with U.S. President Donald Trump, marking a 50-day gap before his call with Xi. Burnham's predecessor, Keir Starmer, also spoke with Xi 49 days after taking office.According to Xinhua, Xi congratulated Burnham on his appointment and emphasized that the two countries should acknowledge their differences while promoting mutually beneficial cooperation. He added that both nations are strong in science and technology and should enhance exchanges and collaboration across various fields, expressing hope that the UK would adequately protect the legitimate rights and interests of Chinese investors.This remark is interpreted as a reference to the UK government's nationalization of British Steel, which was owned by the Chinese steelmaker Jingye Group. The UK took this action after Jingye proposed closing a blast furnace due to accumulated losses, prompting China to call for the protection of its companies' rights.During his call with Xi, Burnham noted his long tenure as the mayor of Manchester and mentioned that he had visited Manchester in 2015 while in that role. He stated, "The UK wishes to develop a long-term and stable strategic partnership."He emphasized that the UK aims to promote high-level exchanges with China and enhance cooperation in various fields to restore bilateral relations to their highest level in history. Burnham also reiterated that the UK's position on the Taiwan issue remains unchanged and commended China's swift and strong response to the landslide in Tibet.* This article has been translated by AI. 2026-09-09 09:12:00
  • Hyundai Motor Group to Advance Payments to Over 6,000 Suppliers Before Chuseok
    Hyundai Motor Group to Advance Payments to Over 6,000 Suppliers Before Chuseok Hyundai Motor Group announced on September 9 that it will advance payments to its suppliers to alleviate their financial burdens ahead of the Chuseok holiday. The total amount of the payments is 2.2562 trillion won, which is up to 23 days earlier than the original payment dates.This early payment initiative involves major affiliates of Hyundai Motor Group, including Hyundai Motor, Kia, Hyundai Mobis, Hyundai Engineering & Construction, Hyundai Steel, Hyundai Glovis, Hyundai Transys, Hyundai Wia, Hyundai AutoEver, Hyundai Rotem, Hyundai Engineering, and Hyundai Kefico. The program targets over 6,000 suppliers dealing in parts, raw materials, and consumables.The move aims to ease the financial strain on suppliers, who face increased expenses for employee bonuses and various wages, as well as payments for raw materials, during the Chuseok season. This is intended to help stabilize their operations and contribute to the vitality of the local economy.Hyundai Motor Group has also encouraged first-tier suppliers to advance payments to second- and third-tier suppliers. This approach is designed to reduce financial uncertainty for these lower-tier suppliers and promote a positive cycle of early payments throughout the supply chain.Additionally, employees of Hyundai Motor Group will engage in various community support activities to ensure that their neighbors can enjoy a more abundant and warm Chuseok holiday. They plan to deliver essential goods and meals to vulnerable groups and participate in volunteer activities, as well as support traditional markets and local farmers.A representative from Hyundai Motor Group stated, "In light of the concentrated financial demands during the Chuseok holiday, we are advancing payments to our suppliers and engaging in volunteer activities to support traditional markets and local farmers. We will continue to work towards creating a cooperative ecosystem where suppliers and the local community can grow and share value together." 2026-09-09 09:12:00
  • Government to Invest Up to 2 Billion Won in Facility Improvements
    Government to Invest Up to 2 Billion Won in Facility Improvements The government is taking steps to enhance the insufficient performance infrastructure across various regions.The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency announced on September 9 the results of the support facility application for the 'Popular Music Performance Environment Improvement Project.'After a rigorous three-stage evaluation process, including document and presentation assessments as well as on-site evaluations, three facilities were selected for final support: the Goyang Sports Complex in Gyeonggi Province, the Busan Citizens' Hall Grand Theater, and the Chiak Gymnasium in Wonju, Gangwon Province.This is the first year of the 'Popular Music Performance Environment Improvement Project,' which aims to support the use of existing local facilities as venues for popular music performances, considering the lengthy time required to build large concert halls.For multi-purpose sports facilities with over 1,000 seats, the project will provide up to 2 billion won in national funding for improvements to popular music performance equipment, with local governments required to cover at least 50% of the costs.The Goyang Sports Complex, which has a capacity of 43,000 seats, is expected to serve as a hub to meet the demand for large-scale performances in the metropolitan area. Meanwhile, the smaller facilities, the Busan Citizens' Hall Grand Theater (1,624 seats) and the Chiak Gymnasium (2,330 seats), are anticipated to play key roles in attracting a variety of popular music performances within their respective regions.As only three facilities were selected, falling short of the five targeted for non-metropolitan support, the Ministry plans to quickly conduct an additional application process using the remaining budget in September. More details about the additional application will be announced on September 14 on the Korea Creative Content Agency's website, with final selections expected to be made in October.* This article has been translated by AI. 2026-09-09 09:08:10
  • Bumhan Fuel Cell Shares Surge 25% Amid Growing Global Power Infrastructure Demand
    Bumhan Fuel Cell Shares Surge 25% Amid Growing Global Power Infrastructure Demand Bumhan Fuel Cell, a company specializing in hydrogen fuel cell technology, saw its shares rise by over 25%.According to the Korea Exchange, as of 9:02 a.m. on September 9, Bumhan Fuel Cell's stock was trading at 22,200 won, a 23.40% increase from the previous trading day.The company develops and manufactures hydrogen fuel cells and is involved in projects for submarine fuel cells, building fuel cells for buildings, and establishing hydrogen charging stations.Notably, its submarine fuel cell module became the second in the world to achieve commercialization, following Germany.The surge in stock price is attributed to the company's benefits from the expanding global investment in power infrastructure, which has bolstered the supply chain for key components.* This article has been translated by AI. 2026-09-09 09:08:00
  • Defense Minister An Gyu-baek Travels to Croatia for Chunmu Rocket Export
    Defense Minister An Gyu-baek Travels to Croatia for Chunmu Rocket Export Defense Minister An Gyu-baek is departing for Croatia on September 9 to support the export of South Korea's multiple launch rocket system, Chunmu. The Ministry of National Defense announced that Minister An will visit Croatia at the request of the Croatian Ministry of Defense from September 9 to 11. On September 10, he is scheduled to meet with Prime Minister Andrej Plenković and attend the signing ceremony for the Chunmu contract. This contract marks South Korea's first defense export to Croatia. According to local media and defense industry sources, Hanwha Aerospace will supply 18 Chunmu launchers and guided missiles, with the contract valued at approximately 435.2 million euros (about 680 billion won). The Ministry of Defense expects this contract to be a significant milestone in developing a mutually beneficial defense partnership between the two countries. During his visit, Minister An plans to emphasize the excellence of South Korea's defense industry and the commitment to cooperation with Croatia. The two countries are also set to sign a memorandum of understanding (MOU) for systematic and practical defense and defense industry cooperation. Minister An will discuss strategic cooperation measures between the two nations for peace and stability on the Korean Peninsula and in the region.* This article has been translated by AI. 2026-09-09 09:08:00
  • President Lees Approval Rating Drops to 36.4%, Down 9.3% in a Month
    President Lee's Approval Rating Drops to 36.4%, Down 9.3% in a Month President Lee Jae-myung's approval rating has fallen to 36.4%, a decrease of 9.3 percentage points from the previous month, with negative evaluations surpassing 60%. According to a survey conducted by Hankyoreh Research for Cookie News from September 5 to 7, which included 1,018 adults aged 18 and older, President Lee's positive evaluation stood at 36.4%, while negative evaluations reached 62.1%. Those who responded that they did not know accounted for 1.5%. Compared to the previous survey conducted on August 30-31, the positive rating dropped from 37.3% by 0.9 percentage points, while the negative rating increased from 60.9% by 1.2 percentage points. In comparison to the survey from August 1-3, the positive rating fell from 45.7% by 9.3 percentage points, while the negative rating rose from 51.7% by 10.4 percentage points. Across age groups, negative evaluations exceeded positive evaluations in all demographics. Notably, the negative evaluation among those in their 30s was the highest at 68.7%, while those aged 18 to 29 recorded a negative evaluation of 65.0%. Regionally, Seoul had the highest negative evaluation at 69.3%. In the Honam region, positive evaluations surpassed negative evaluations, with 64.7% positive and 35.3% negative. When asked about the policy President Lee has performed best, 40.1% responded that there was none. Among specific policies, the livelihood economy received the highest rating at 19.2%. The policies deemed most poorly executed included the reduction of prosecutorial powers (23.4%) and real estate policies (21.8%). In terms of party support, the Democratic Party received 40.9%, while the People Power Party garnered 21.1%, resulting in a gap of 19.8 percentage points between the two parties. Following them were the Justice Party at 4.3%, the Reform Party at 2.2%, and the Progressive Party at 1.3%. Those who reported having no party affiliation accounted for 23.1%. Compared to the previous survey, the Democratic Party increased by 1.9 percentage points, while the People Power Party decreased by 3.2 percentage points. Regarding key issues, 59.1% of respondents evaluated the government's proposed budget for next year, which is set to increase by 12.8% to 821 trillion won, as having 'increased significantly.' Meanwhile, 33.5% responded that it 'has not increased significantly.' Regarding the nomination of Kim Seung-won as Minister of Justice, 58.7% expressed concerns about his past claims of prosecutorial dismissal affecting his political neutrality, while 36.0% disagreed. For the nomination of Yong Hye-in as Minister of Gender Equality and Family, 60.1% deemed her 'unsuitable for the ministerial position.' Public opinion on the deployment to the Hormuz Strait was closely divided within the margin of error. Opposition to sending maritime patrol aircraft, logistical support ships, and bomb disposal units stood at 47.1%, while 43.0% supported the deployment. Support was slightly higher among men (51.6%), while women showed a slight majority against it (51.7%). Among those aged 18 to 29, support reached 51.6%, surpassing half. This survey was conducted using a random digit dialing (RDD) method, with 3.1% of responses collected via landline interviews and 96.9% through automated mobile response systems (ARS). The response rate was 2.5%, and the margin of error is ±3.1 percentage points at a 95% confidence level. For more details, please refer to the website of the National Election Survey Deliberation Commission.* This article has been translated by AI. 2026-09-09 09:04:00
  • HPLS Hosts Community Day with 700 Louisiana Residents
    HPLS Hosts Community Day with 700 Louisiana Residents Hyundai Steel-POSCO Louisiana Steel (HPLS) held a community engagement event to connect with local residents ahead of the upcoming construction of its steel mill.On September 6, HPLS hosted the 'HPLS Community Day' at Louisiana Square in Donaldsonville, Ascension Parish, Louisiana, inviting local residents to participate.The event, themed 'HPLS in Harmony with Local Residents,' attracted approximately 700 attendees, including Leroy Sullivan, the mayor of Donaldsonville, and HPLS CEO Kim Hyung-jin, who is also the head of Hyundai Steel's North American steel division. HPLS employees joined in various activities with the community.HPLS organized the event to enhance local understanding of the electric arc furnace steel mill and to share expectations. Louisiana Square, established in 1806, is a historic site and a cultural hub for the community, hosting various festivals each year.By holding the event in a location significant to Louisiana residents, HPLS aims to quickly integrate the new steel mill into the community.In addition to the event, HPLS plans to build strong ties with local residents through ongoing communication and collaboration, establishing a foundation for the sustainable growth of the steel mill.Mayor Leroy Sullivan expressed his happiness at the successful groundbreaking ceremony for HPLS, stating, 'HPLS will provide many opportunities for the citizens of Donaldsonville.'Kim Hyung-jin also remarked, 'When the local community grows and develops, HPLS can succeed alongside it,' adding that the company aims to create sustainable opportunities for local residents and future generations.During the event, Kim presented a plaque of appreciation to Ascension Parish officials and the mayor of Donaldsonville for their support during the preparation for the steel mill's construction. The event featured performances by local artists, experience booths highlighting the significance of the steel mill, and food stalls offering local and Korean cuisine.HPLS is set to build its first steel mill in the U.S., with an annual capacity of 2.7 million tons. Hyundai Steel will hold a 50% stake, while POSCO will have 20%, and Hyundai Motor and Kia will each invest 15%. Production is expected to begin in 2029, with an annual output of 1.8 million tons of automotive steel and 900,000 tons of general steel.* This article has been translated by AI. 2026-09-09 09:04:00