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Coupang Expands Chuseok Shopping with Discounts on 80,000 Products Coupang is launching a large-scale discount event ahead of Chuseok, covering everything from food gifts to electronics, beauty, and fashion.The company announced on the 8th that it will hold a 'Chuseok Festa' for Wow members until the 27th. The event will feature approximately 80,000 products across 15 categories from over 70 major brands.The range of products includes fresh and processed foods from Rocket Fresh, household goods, electronics and digital items, home decor, beauty products, kitchenware, fashion and accessories, pet supplies, maternity and children's items, sports and leisure products, office supplies, automotive goods, and toys and hobbies.To help customers find products based on their purchasing needs, the event will have specialized sections. These include a 'Main Discount Zone' for discounted items, a gift section, a section for holiday food shopping, and a 'Holiday Enjoyment Zone' for products to use during the holiday period. The gift section will allow customers to browse items based on budget, with categories for gifts under 50,000 won, 50,000 to 100,000 won, 100,000 to 200,000 won, and over 200,000 won.Pre-orders for fresh and processed food gift sets are also available. Featured items include Dr. Lutein's Premium Albumin, Manuka Honey Stick Gift Set, and AHC Renew Age Gift Set.Until the 23rd, Coupang will operate 'Brand Day' events, offering discounts on specific brand products for one day. Participating brands include Samsung, LG, Apple, Dyson, Nike, Adidas, Jeong Kwan Jang, Amorepacific, Lancôme, CJ CheilJedang, Dongwon, and Pulmuone.Last year, Coupang sold over 1,400 food gift sets and more than 13,000 holiday food items in a separate promotional event for Chuseok.While last year's focus was primarily on food, with options ranging from budget-friendly to premium gift sets, this year's 'Chuseok Festa' expands to include 15 categories, broadening the scope of holiday shopping.A Coupang representative stated, "The Chuseok Festa is designed to provide a convenient one-stop shopping experience for holiday preparations, gift purchases, and shopping during the holiday period."* This article has been translated by AI. 2026-09-08 14:16:00
Lee So-young, Ministerial Candidate, Proposes Policies to Alleviate Small Business Burdens Lee So-young, the nominee for Minister of Small and Medium Enterprises and Startups, has announced plans for a fundamental improvement in the cost structure for small businesses.After visiting the Small Business Association in Yeouido, Seoul, on September 8, Lee told reporters, "Despite record growth rates, self-employed individuals feel they have nothing to show for their hard work because the cost structure has become unsustainable."He added, "With high interest rates and inflation, when a 20,000 won order is placed, over 6,000 won goes to delivery apps in various fees. Many self-employed individuals are unable to take home any wages after covering their other expenses with the remaining amount."Lee, who recently served on the National Assembly's Finance and Economy Committee, noted that he frequently heard pleas from small business owners who said, "It’s very difficult, but there are no effective solutions." He identified several complex crisis factors, including aggressive competition from Chinese retailers, accumulated financial debts, the shift to online retail, a declining consumer population, and the hollowing out of local commercial districts.He emphasized the need to collect and analyze monthly income and expenditure statements from various types of small businesses to clearly identify where costs are incurred. Based on these indicators, he plans to establish improvement goals and create a roadmap to reduce the burden of scattered costs. He described this approach as a "first-time attempt by the Ministry of Small and Medium Enterprises and Startups."Additionally, Lee expressed regret over reports regarding campaign donations and political contributions, stating, "It is unfortunate that sensational and malicious reporting occurred without even confirming basic facts." He expressed disbelief and offense at the use of terms like 'proxy donations' and 'political contributions' without verification.Regarding allegations about his mother's housing support, he clarified that providing living expenses to support parents, as recognized by social norms, does not constitute a gift under inheritance and gift tax laws, characterizing it as fulfilling a duty of support.The Small Business Association expressed hope that Lee, who has consistently advocated for expanding recovery funds for small businesses and supporting those who have closed during the COVID-19 pandemic, will become a minister who brings hope and vitality to small businesses. Meanwhile, Lee's confirmation hearing in the National Assembly is scheduled for September 15.* This article has been translated by AI. 2026-09-08 14:16:00
Confirmation Hearing for Kim Seong-soo, Supreme Court Justice Nominee, Set for September 14 The confirmation hearing for Kim Seong-soo, nominee for Supreme Court Justice, is scheduled for September 14.The National Assembly's Special Committee on the Confirmation of Supreme Court Justices made this decision during a full meeting on September 8.The committee also decided to hold a full meeting on September 16 to adopt the report on the review of Kim's confirmation.Kim Do-eup, a four-term lawmaker from the People Power Party, was elected as the committee chair, while the opposition and ruling party appointed Joo Cheol-hyun from the Democratic Party and Kim Hyung-dong from the People Power Party as committee secretaries.However, the parties have yet to reach an agreement on calling witnesses for Kim's hearing, and further discussions between the secretaries will continue.The opposition has argued that witnesses, including Kim's brother-in-law, should be called regarding allegations of a low-cost lease for a Gangnam apartment through a 'brother-in-law advantage.' In contrast, the ruling party contends that calling witnesses is unnecessary.Previously, lawmaker Joo Jin-woo from the People Power Party raised concerns that Kim is living in a Gangnam apartment valued at approximately 1.95 billion won, paying a deposit of 350 million won through a 'jeonse' arrangement with his brother-in-law, suggesting potential tax evasion.During a procedural statement, Joo said, "There are discrepancies between Kim and his brother-in-law's accounts, and in such cases, it is essential to call the brother-in-law as a witness to clarify the facts. How can Kim serve as a Supreme Court Justice without resolving his tax evasion allegations?"In response, Joo Cheol-hyun, the ruling party's secretary, stated, "We can verify everything by directly questioning the nominee and reviewing any additional contracts or financial transaction records submitted. It has been confirmed that there has been no instance of witnesses being called in Supreme Court Justice confirmation hearings over the past 14 years since the 19th National Assembly in 2012."Chairman Kim stated, "According to the agreement between the ruling and opposition secretaries, a request for witness attendance must be delivered at least five days before the hearing. I ask that the secretaries reach a conclusion through their discussions. If an agreement on witness selection is reached, we will hold another meeting to make a decision."* This article has been translated by AI. 2026-09-08 14:08:00
Korean MMA Fighter Expelled After Choking Out Civilian on Live Stream Kim Jung-woo, a 36-year-old mixed martial arts fighter with a history of gang affiliation, is under police investigation for allegedly choking a civilian participant during a live YouTube broadcast. The MMA organization ZFN, led by fighter Jung Chan-sung, known as the 'Korean Zombie,' announced his expulsion on September 7.In a statement on its official YouTube channel, ZFN said, "The actions of the athlete during the recent controversial broadcast violated the obligation to maintain dignity as outlined in the athlete's contract." The organization added, "We will apply the same standards to all athletes without exception in the future," and expressed hopes for a swift recovery for the victim.During the live stream, Kim used a guillotine choke on a man in his twenties, identified as Mr. A, while they were grappling. Although Mr. A tapped out to signal surrender, Kim did not release the hold. As a result, Mr. A lost consciousness and fell, hitting the back of his head on the ground. Kim then reportedly told his associates to "let him sleep for a bit," leaving Mr. A unattended, while the incident was broadcast live.Despite the presence of several people at the scene, no one called emergency services or attempted to provide first aid. When Mr. A did not regain consciousness, other participants checked on him, and the broadcast was halted to take him to the hospital. He is currently reported to be experiencing some paralysis symptoms.An industry insider criticized Kim's actions, stating, "If he were just a regular person, he would know that such behavior is unacceptable. What kind of fighter is he? He’s a thug who tarnishes the sport of MMA." Online backlash against Kim has also been significant.Kim was previously affiliated with a gang but is no longer under police supervision. Authorities are investigating whether others present at the scene aided or abetted his actions.* This article has been translated by AI. 2026-09-08 14:08:00
Korea opens first industrial insect protein complex SEOUL, September 08 (AJP) - South Korea opened its first industrial-scale insect complex in Chuncheon, a 20 billion won ($14.85 million) facility built to produce up to 1,000 tons of mealworms a year for food and pharmaceutical buyers. The Ministry of Agriculture, Food and Rural Affairs said Tuesday the site in Gangwon Province covers 23,815 square meters and is anchored by a smart factory farm where artificial intelligence and robots watch the larvae and adjust temperature, humidity and feed. Around it stands 33 rental greenhouses that will draw breeding stock from participating farmers, including young growers, and every stage of rearing and processing carries HACCP hygiene certification, a first for insect production in the country. "We want zero waste," said Seok Young-seek, the center's director, in an interview with AJP when the complex broke ground. "Insects aren't just food. Their chitin shells can be used in bioplastics and sensors." Gangwon Province and Chuncheon signed a cooperation agreement at the ceremony with Hanmi Nutrition, a health supplement maker, and insect food company OMO. Both companies plan to develop medical foods and protein ingredients from the site's output. Cabbage and other produce discarded by nearby distribution centers will be fed to the insects, a recycling loop the ministry said should lower rearing costs and disposal bills while cutting carbon emissions. Nationwide insect sales reached 52.8 billion won in 2024, up 11.6 percent from a year earlier. The number of registered insect businesses fell 2.1 percent to 2,949 during the same period, according to the ministry's latest industry survey. AJP Takeaways - South Korea's first insect industry hub opened in Chuncheon, Gangwon Province, on Sept. 8, 2026, built with 20 billion won ($14.9 million) split evenly between central and local government funding. - The complex can produce up to 1,000 tons of mealworms annually using AI- and robot-controlled rearing, and is the first Korean insect facility to apply HACCP hygiene certification across the full production chain. - South Korea's insect industry sold 52.8 billion won worth of product in 2024, an 11.6 percent rise from 2023, while registered producers fell to 2,949 from 3,031, according to the Ministry of Agriculture, Food and Rural Affairs. 2026-09-08 14:00:34
China's Exports Surge 25% Despite Strong Yuan China's exports continue to rise in double digits, supporting the country's economy despite a strengthening yuan. According to data released by the General Administration of Customs on September 8, China's exports reached $401.4 billion in August, a 25.0% increase compared to the previous year. This figure surpasses July's export growth rate of 23.9% and aligns with the 25.0% forecast compiled by Reuters. China's imports in August totaled $282.3 billion, marking a 28.2% year-on-year increase, though slightly below the Reuters estimate of 30.0%. Consequently, China's trade surplus for August stood at $119.0 billion, bringing the cumulative trade surplus for the year to $805.5 billion. In August, China's exports to the United States rose 34.4% to $42.4 billion, while imports from the U.S. increased by 17.8% to $13.2 billion. The total trade volume between China and the U.S. for August grew by 30.0% year-on-year. Exports to South Korea also saw significant growth, with a 49.3% increase to $18.0 billion, and imports from South Korea surged by 108.1% to $32.1 billion. The cumulative trade volume between China and South Korea rose by 82.3%. The increase in overall exports is attributed to a rise in shipments of high-value manufactured goods, including automobiles, electric vehicles, batteries, and solar products. Additionally, rising raw material prices, such as semiconductors, have contributed to increased imports. However, China's crude oil imports fell to 37.92 million tons in August, a decrease of 23.4% from the previous year. The cumulative import volume for August this year is down 14.6% compared to last year. Notably, the People's Bank of China has reported that the yuan's exchange rate against the dollar has dropped from around 7.10 yuan to approximately 6.78 yuan over the past year, indicating an appreciation of more than 4% in the yuan's value against the dollar. Analysts suggest that the cost competitiveness of Chinese manufacturing, along with its extensive supply chains and production capacity, is absorbing the price pressures from currency fluctuations.* This article has been translated by AI. 2026-09-08 14:00:20
179 Children Under 5 Report Rental Income, Sparking Outrage Over Wealth Disparity Statistics reveal that infants and toddlers are earning millions of won in real estate rental income each year, leading to significant feelings of relative deprivation among young people and those without homes.According to data received by lawmaker Moon Jin-seok from the National Tax Service on September 7, there are 179 children aged 5 and under who reported rental income. This group includes nine infants aged 0 to 1, with an average annual rental income of approximately 15 million won per person.When the age range is expanded to include all minors under 18, the number of rental income earners rises to 3,233, with total rental income reaching 55.84 billion won. It is believed that these individuals inherited real estate from their parents or grandparents, prompting calls for the National Tax Service to rigorously investigate the sources of these funds and any potential illegal gifting.In response to this news, netizens expressed their frustration, stating, "I work overtime every day just to pay rent, yet a baby is earning 15 million won a year. It's disheartening," and "The privilege of parental advantage has gone too far. We need a thorough investigation into illegal gifting practices." Strong criticism and outrage over asset polarization continue to grow.* This article has been translated by AI. 2026-09-08 14:00:20
Bank Employee Prevents Investment Scam with Diligent Verification A citizen attempting to transfer a large investment amount avoided further losses thanks to the careful verification by a bank employee. The Anyang Dong-an Police Station announced on September 8 that they presented a certificate of appreciation and a reward to Shinhan Bank's Bisan-dong branch employee, identified as A, for contributing to the prevention of an investment scam. According to the police, A discovered that B, who visited the bank last month, was attempting to transfer approximately 190 million won under the guise of an investment. B had received an investment proposal from an acquaintance and was in the process of sending the funds. However, A assessed the transaction and the intended use of the funds, determining that there was a possibility of fraud. To prevent any further transfers and potential losses, A promptly requested a payment hold and reported the situation to the police by calling 112. A stated, "Although the customer explained it as an investment, the amount was quite large, and during the verification process, I looked for any unusual signs regarding the nature of the funds and the transfer circumstances. I judged that it could lead to a potential loss and reported it to the police, and I’m relieved that it helped prevent further damage." The police emphasized the need for heightened vigilance in financial transactions, noting that scams are becoming increasingly sophisticated, often luring victims with promises of high returns. They particularly urged individuals to verify the facts of any investment proposals that lack clear sources or promise high returns in a short period, rather than rushing to send money. Meanwhile, Chief Kim Shin-jo stated, "As new types of scams and criminal methods become more sophisticated, there are many cases where victims only realize they have been defrauded too late or find it difficult to recover their losses." He added, "In cases like this, the careful observation and prompt reporting by financial institution employees play a significant role in protecting citizens' valuable assets."* This article has been translated by AI. 2026-09-08 14:00:00
KT&G Welfare Foundation Donates 150 Vehicles to Social Welfare Agencies KT&G Welfare Foundation has provided 150 vehicles to social welfare agencies across the country. Since the launch of its vehicle support program in 2004, the foundation has delivered over 2,600 vehicles to welfare organizations. On September 2, KT&G Welfare Foundation held a vehicle donation ceremony at the Gangdong Uorim Welfare Center in Seoul, announcing the delivery of 150 vehicles to welfare agencies nationwide. This brings the total number of vehicles donated to 2,605. The donated vehicles will be used by welfare agencies for outreach work, helping them reach local residents directly. The foundation expects these vehicles will assist in providing mobility and visiting services in narrow alleys and densely populated residential areas where regular vehicles may have difficulty accessing. This year's donation consists of 100 gasoline-powered compact cars and 50 electric compact cars. The electric vehicles were allocated to agencies that have charging facilities or the capability to install them. Since 2004, KT&G Welfare Foundation has continued its vehicle support program to enhance mobility for welfare organizations. Last year, the foundation also donated 150 vehicles to social welfare agencies nationwide. A representative from KT&G Welfare Foundation stated, "We strive to support the necessary means of transportation for on-site work, contributing to welfare and support activities in the community. We will continue to do our best to ensure that neighbors in need receive practical benefits and support."* This article has been translated by AI. 2026-09-08 14:00:00
HMM lands $3.5 billion long-term shipping contract with Vale SEOUL, September 08 (AJP) - HMM has signed a 4.7 trillion won ($3.5 billion) long-term shipping contract with Brazilian mining giant Vale, locking in cargo for eight new bulk carriers for 25 years as South Korea's largest container shipper expands stable earnings outside its mainstay container business. The agreement is HMM's third major long-term contract with Vale following two 10-year deals signed in May and September last year worth a combined 1.07 trillion won, the South Korean carrier said Tuesday. Under the latest contract, each vessel will operate for 25 years beginning in 2030. The contract is worth 4.697 trillion won, equivalent to 43.13 percent of HMM's consolidated revenue of 10.89 trillion won in 2025, according to a regulatory filing. The agreement runs from April 1, 2030, through Oct. 31, 2056, although each vessel will operate under a 25-year contract from the time it enters service. Vale also has an option to extend the contract by up to five years. The deal marks HMM's third major long-term contract with Vale following two 10-year agreements signed in May and September last year worth a combined 1.07 trillion won. HMM had announced in June that it would order eight 210,000-ton Newcastlemax bulk carriers for the contract, equipped with the world's first engines capable of running on methanol, ethanol and conventional fuel oil. The ships will also be built "LNG- and ammonia-ready," allowing future conversion to liquefied natural gas or ammonia propulsion. They will carry rotor sails that harness wind to supplement engine propulsion, among other equipment designed to improve fuel efficiency and reduce carbon emissions. The deal advances HMM's effort to reduce its dependence on volatile container freight rates by expanding long-term contracts with large, creditworthy cargo owners. Since CEO Choi Won-hyuk took office at the end of March last year, the carrier has sought to streamline its bulk shipping fleet while reducing its reliance on short-term chartered vessels and securing more long-term cargo commitments. HMM's bulk division posted operating profit of 240 billion won in the first half of this year, extending a sharp improvement that began in the fourth quarter of 2025. The carrier has also broadened its non-container portfolio beyond conventional dry bulk carriers and tankers into liquefied-gas carriers, pure car and truck carriers and multipurpose vessels. Its bulk fleet expanded to 61 vessels as of the first half of this year from 44 at the end of March 2025. "HMM will continue strengthening its stable earnings base by expanding the share of long-term contracts and restructuring its business portfolio, while expanding businesses centered on high profitability and future growth," a company official said. Under the latest contract, HMM will transport cargo mainly between Brazil and destinations including China. Payments will be made within 10 business days after loading for each voyage. The final contract value could change depending on exchange rates, fuel prices, shipping routes and vessel operating days, HMM said. HMM shares were down 1.86 percent at 21,150 won as of 1:40 p.m. Tuesday. 2026-09-08 13:57:43