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  • Toss Payments Partners with Visa to Enhance Payment Security and Services
    Toss Payments Partners with Visa to Enhance Payment Security and Services Toss Payments is teaming up with global payment technology company Visa to strengthen its competitiveness in the domestic and international payment markets.On September 8, Toss Payments announced that it has signed a strategic memorandum of understanding (MOU) with Visa to collaborate across various payment sectors.The two companies plan to build a close partnership based on their respective payment technologies and networks, aiming to expand cooperation in the payment market both domestically and internationally.In particular, they will focus on enhancing payment security to create a safe and convenient payment environment, and will gradually implement joint efforts to advance payment services.Toss Payments intends to combine its accumulated payment technology and operational experience in South Korea with Visa's global payment network to improve payment convenience for merchants and users. Visa also plans to expand its partnerships in the domestic payment market as a result of this agreement.Kim Gyu-ha, Vice President of Toss, stated, "Through this agreement with Visa, we aim to solidify a close partnership and create business synergies in various fields. We will strive to provide a safer and better payment experience for our customers and merchants."* This article has been translated by AI. 2026-09-08 10:24:20
  • Construction Stocks Rise on U.S. Investment and Nuclear Power Project Hopes
    Construction Stocks Rise on U.S. Investment and Nuclear Power Project Hopes Construction stocks showed strong performance early on September 8, buoyed by expectations surrounding U.S. investment projects. As opportunities for domestic companies to participate in gas combined cycle power generation and nuclear power construction emerge, investor sentiment has improved.According to the Korea Exchange, as of 10:09 a.m., Daewoo Engineering & Construction saw its shares rise by 1,330 won (7.22%) to 19,740 won. Hyundai Engineering & Construction increased by 3.86% to 131,800 won, GS Engineering & Construction rose by 2.13% to 35,950 won, and DL E&C gained 1.79% to 79,400 won. Samsung C&T and IPARK Hyundai Industrial Development also saw increases of 1.30% and 0.65%, respectively.The surge in construction stocks is attributed to expectations of expanded investment in power infrastructure from the U.S. The Texas Encinada gas combined cycle power project, identified as the first major U.S. investment initiative, is moving forward, with nuclear power construction being discussed as a subsequent project. This has heightened expectations for domestic construction firms to secure overseas power plant contracts.Additionally, optimism surrounding the nuclear power market is contributing to this trend. Analysts in the securities industry noted that the domestic nuclear and gas power infrastructure sectors are entering a new phase, driven by actual demand for expansion and increased export opportunities. The rapid growth in electricity demand, particularly due to the expansion of AI data centers, is expected to benefit both nuclear and gas power sectors in the long term. Last month, shares related to nuclear power, including Hyundai Engineering & Construction and Korea Electric Power Technology, also experienced gains due to forecasts of expanded investment opportunities in the domestic and international nuclear sectors.Furthermore, expectations are rising that the government’s 2027 budget will include increased investments in public housing, roads, power grids, and water infrastructure, leading to a broader buying trend among major construction firms. 2026-09-08 10:24:10
  • Heavy Rain in August Leaves Gwangju, Jeonnam Still Thirsty
    Heavy Rain in August Leaves Gwangju, Jeonnam Still Thirsty Despite significant rainfall in Gwangju, Jeonnam last month, the drought has not been alleviated.In some areas, the agricultural water reservoir levels are at a 'serious' stage, ranking the lowest in the country.Proactive measures are needed to secure agricultural water.According to the Korea Rural Community Corporation's Rural Water Comprehensive Information System, as of today, the average agricultural water reservoir level in 25 cities, counties, and districts in Gwangju is 48.5%.This is only 77.3% of the normal reservoir level (62.8%).While this marks a 6.7% increase from the lowest point of 41.8% on August 11, the situation remains concerning as it is still classified as 'warning' (severe drought).The drought stages for agricultural water are categorized into four levels based on a 30-year average reservoir level: 'concern' (below 70% - mild drought), 'caution' (below 60% - moderate drought), 'warning' (below 50% - severe drought), and 'serious' (below 40% - extreme drought).As of August 11, Gwangju and ten cities and counties in Jeonnam (Suncheon, Gwangyang, Yeosu, Gokseong, Gurye, Goheung, Boseong, Hwasun, Yeonggwang, and Jangseong) were all at the 'caution' stage.Notably, Gwangju's reservoir levels are the lowest in the nation.The national average reservoir level is currently 57.9%, with regions like Chungbuk (77.3%), Gyeonggi (71.6%), and Chungnam (70.5%) exceeding 70%. Gangwon (66.9%), Gyeongnam (56.9%), Gyeongbuk (53.2%), Jeonbuk (50.4%), and Jeju (48.6%) follow.However, Gwangju stands at 48.5%, the lowest in the country.There are also significant disparities within the region.Suncheon, Gwangyang, and Yeosu have relatively better levels at 68.8%, Hwasun at 66.0%, Boseong at 62.5%, and Yeongam at 62.1%, while Jindo, Gokseong, Jangseong, Goheung, Hampyeong, and Jangheung are below 40%.According to a recent report from the Gwangju Metropolitan City on summer drought damage, out of a total of 161,878 hectares of rice paddies, 86 hectares (0.05%) have suffered from dryness, while 126 hectares (0.1%) of 112,218 hectares of fields have also been affected.* This article has been translated by AI. 2026-09-08 10:24:00
  • Han Seong-sook: Peace is Essential for Growth and National Interests
    Han Seong-sook: Peace is Essential for Growth and National Interests Han Seong-sook, the Prime Minister of South Korea, emphasized on September 8 that "if peace is shaken, the foundation for growth is also shaken," stating that "peace and coexistence are not ideals but realistic choices for the people and national interests."During her keynote address at the '2026 Seoul Security Dialogue' held at the Grand Lotte in Jung-gu, Seoul, she remarked, "Wars and conflicts in one region disrupt energy and supply chains, influence corporate production and investment, and ultimately affect jobs, prices, and the livelihoods of the people."She highlighted the need for the international community to manage conflicts and seek common interests, noting that security issues extend beyond military concerns to have direct impacts on the economy and daily life.Han also outlined the government's security policy, which aims to strengthen self-defense and deterrence while promoting practical diplomacy centered on national interests."The 'indispensable Republic of Korea' that the government envisions is not a country that advances alone," she explained. "It is a nation that, while equipped with self-defense capabilities and deterrence, seeks common interests based on practical diplomacy and pursues peaceful coexistence and shared prosperity through trust and dialogue."She further emphasized the commitment to utilize South Korea's world-class advanced manufacturing capabilities, defense industry competitiveness, democratic experience, and the power of K-culture to create a safer and more prosperous world. She pledged to fulfill responsibilities in peacekeeping, humanitarian assistance, disaster response, and post-conflict reconstruction.Han also shared her vision of linking peace on the Korean Peninsula to regional and international stability. "The peace we will create on the Korean Peninsula will not be confined to the peninsula itself," she stated, adding that it will serve as a foundation for stability in Northeast Asia and contribute to global peace and shared prosperity.The Seoul Security Dialogue is a high-level multilateral security forum established by the Ministry of National Defense in 2012 to discuss peace on the Korean Peninsula and regional security cooperation. It was elevated to a ministerial-level meeting in 2023, with approximately 1,000 participants from 67 countries and international organizations, including defense ministers from four countries and deputy defense ministers from six countries.This year's theme is 'Towards New Coexistence in an Era of Chaos.' Discussions will continue until September 9 on building a stable international order, changes in alliances and partnerships, the defense industry ecosystem and global supply chain resilience, peace on the Korean Peninsula, new technologies and future defense, and post-war recovery and reconstruction.Han concluded by stating, "This is a forum for countries with different interests and strategies to discuss how to create greater common benefits. South Korea will take the lead in this endeavor and demonstrate responsible actions that link coexistence to common interests."* This article has been translated by AI. 2026-09-08 10:24:00
  • South Koreas Q2 Nominal GDP Growth Hits 47-Year High, Boosting Income Prospects
    South Korea's Q2 Nominal GDP Growth Hits 47-Year High, Boosting Income Prospects South Korea's economy continued its growth in the second quarter of this year, driven by strong semiconductor exports. The real gross domestic product (GDP) increased by 0.6%, while nominal GDP surged by 26.4% compared to the same period last year, marking the highest growth rate in 47 years.The Bank of Korea reported on September 8 that the second quarter's real GDP growth rate (seasonally adjusted) was 0.6%, consistent with the preliminary figure released in July.Quarterly growth improved after a contraction of -0.2% in the first quarter of last year, with growth rates of 0.6% in the second quarter, 1.4% in the third quarter, and a decline to -0.1% in the fourth quarter. This year, growth has continued with a 1.8% increase in the first quarter followed by the second quarter's growth.In the second quarter, both exports and private consumption showed positive trends. Exports rose by 1.3%, primarily driven by semiconductors, machinery, and equipment. Imports also increased by 0.7%, fueled by higher imports of automobiles and machinery.Construction investment fell by 0.1% due to a decline in civil engineering projects, while facility investment increased by 0.2% thanks to growth in machinery and semiconductor manufacturing equipment. Investment in intellectual property products rose by 3.4%, supported by increases in research and development (R&D) and software.Private consumption grew by 0.4%, bolstered by increased spending on electronics and food and accommodation services. Government consumption also saw a slight increase of 0.1%, mainly due to higher health insurance benefit expenditures.Compared to the preliminary figures, the growth rates for construction investment and intellectual property product investment were both revised upward by 0.1 percentage points, while government consumption was adjusted downward by 0.1 percentage points.In terms of contributions to the second quarter's growth rate, net exports (exports minus imports) added 0.3 percentage points to growth. Although imports increased, the rise in exports was more significant. Domestic consumption contributed 0.3 percentage points, with private consumption and intellectual property product investment each contributing 0.2 percentage points. Government consumption, construction investment, and facility investment all recorded contributions of 0.0 percentage points.Nominal GDP increased by 9.2% from the previous quarter. Year-on-year, it rose by 26.4%, the highest growth rate since the third quarter of 1979, which saw a 27.7% increase. Nominal gross national income (GNI) grew by 8.8% from the previous quarter. Although nominal net income from abroad decreased from 137 trillion won to 120 trillion won, the nominal GDP growth of 9.2% continued to drive increases.Real GNI increased by 3.1% from the previous quarter. Despite a drop in real net income from abroad from 116 trillion won to 79 trillion won, the improvement in trade conditions led to a significant rise in real trade profits, from 38.7 trillion won to 58.5 trillion won, surpassing GDP growth rates.The total savings rate reached 45.6%, up 3.9 percentage points from the previous quarter, marking the highest level since statistics began in 1970.Kim Hwa-yong, head of the Bank of Korea's National Income Division, stated, "While income has increased, consumption has not kept pace, indicating that there is still room for consumption to grow. If corporate income growth translates into household income and leads to increased consumption through remaining savings, it could exert upward pressure on demand-side prices."He also predicted that the increase in total operating surplus due to strong corporate performance would eventually lead to higher household income through bonuses and dividends, as well as increased government revenue from corporate taxes, income taxes, and dividend taxes, which would gradually boost domestic demand. He noted that the distribution of corporate income to the government and households through Samsung Electronics' cash dividends and dividend taxes would become increasingly visible starting in the second half of this year.This year, the prospect of achieving a national income of $40,000 is becoming more tangible. He remarked, "If there are no unexpected shocks in the remaining months of the year, and if the nominal GNI growth rate remains at the current level with stable exchange rates, the per capita GNI in U.S. dollars is very likely to exceed $40,000."* This article has been translated by AI. 2026-09-08 10:20:00
  • Han Byeong-do Calls for Swift Reappointment of Supreme Court Justices
    Han Byeong-do Calls for Swift Reappointment of Supreme Court Justices Han Byeong-do, the floor leader of the Democratic Party, urged Supreme Court Chief Justice Cho Hee-dae on September 8 to promptly proceed with the reappointment process for candidates already recommended by the Supreme Court Candidate Recommendation Committee, following the vacancy of two justices due to a conflict between the Blue House and the Supreme Court.During a policy meeting at the National Assembly, Han stated, "End the politics of reappointment that holds the people's right to a fair trial hostage and show accountability to the Constitution and the public."He pointed out that the vacancy of the justices has persisted since former Justice Noh Tae-ack's retirement in March, leading to a delay of over six months in the reappointment process. "The Supreme Court's three divisions are unable to meet the quorum necessary for trials, forcing the reassignment of justices from other divisions," he noted.Han also expressed concern that the operation of the full bench, which is handling significant cases such as the three major allegations against Kim Geon-hee and the insurrection cases involving Han Deok-soo and Lee Sang-min, could be disrupted. He recalled that during a previous 46-day vacancy of two justices in late 2011, no rulings were issued by the full bench."Since Kim Geon-hee, Han Deok-soo, and Lee Sang-min are all involved in cases before the full bench, they could be the biggest beneficiaries of the Supreme Court vacancy," he criticized.He added, "Despite this, Chief Justice Cho has yet to respond to the Blue House's request for reappointment, having delayed the process for over six months and unexpectedly submitted uncoordinated candidates for reappointment, now further delaying the reappointment itself."Han emphasized that the Chief Justice's reappointment authority is not a power granted to privatize the judiciary. "The longer Chief Justice Cho delays under the pretext of authority and justification, the more trials are postponed, and the public bears the consequences," he said.Addressing the opposition's attacks on Justice Minister nominee Kim Seung-won, Han stated, "Distorting facts based on unverifiable materials and selectively edited recordings under the guise of verification is unacceptable."He also targeted independent lawmaker Han Dong-hoon, saying, "He continues to make unilateral claims without properly explaining the judgments in the related court documents and the reasons for the prosecution's non-indictment, engaging in typical politically motivated cabinet politics by only presenting information favorable to his position."Furthermore, he warned, "Before inflating allegations, Han must clearly disclose to the public how he obtained the materials and through what channels. If he has made false claims, he must take responsibility for them."* This article has been translated by AI. 2026-09-08 10:20:00
  • Capro Shares Plunge Over 90% on First Day of Trading Suspension
    Capro Shares Plunge Over 90% on First Day of Trading Suspension Capro, facing delisting, saw its shares plummet more than 90% on the first day of trading suspension.According to the Korea Exchange, as of 10:08 a.m. on September 8, Capro's shares were trading at 340 won, down 90.71% (3,320 won) from the previous trading day.Founded in 1974, Capro is a manufacturer of basic chemicals listed on the stock market. Trading was halted after the company reported in January 2024 that it had a capital impairment rate exceeding 50% or sales below 5 billion won.The company attributed the complete erosion of its capital to a decline in sales due to factory shutdowns, rising manufacturing costs, and adverse external conditions stemming from the war in Ukraine.Following a review by the Exchange's Corporate Review Committee, a decision was made to delist Capro. Although the company filed an objection and was granted a grace period until last year, the Exchange determined that it met the delisting criteria based on the implementation of improvement plans, business continuity, management transparency, and investor protection.Capro opposed the Exchange's decision and sought a court injunction to suspend the delisting, but the court dismissed the request on September 1. Consequently, the Exchange is conducting a trading suspension for Capro's shares from today until September 16.During the trading suspension period, the daily price limit of ±30% applicable to regular stocks does not apply. This has resulted in significant price volatility, with shares dropping over 90% on the first day of trading resumption.Once the trading suspension process concludes, Capro is set to be delisted from the stock market.* This article has been translated by AI. 2026-09-08 10:16:10
  • Sales of Knowledge Industry Centers Plummet to 200 Billion Won in Q2
    Sales of Knowledge Industry Centers Plummet to 200 Billion Won in Q2 The national market for knowledge industry centers saw a significant contraction in the second quarter. Transaction volume dropped by over 30% compared to the previous quarter, and the transaction amount fell back to the 200 billion won range for the first time since the fourth quarter of 2022.According to a report released on September 8 by Real Estate Planet, the transaction volume for knowledge industry centers nationwide was recorded at 560 cases. This represents a 34.7% decrease from 858 cases in the previous quarter and a 33.1% decline from 837 cases during the same period last year.The total transaction amount was 217.9 billion won, down 40.9% from 369 billion won in the previous quarter. Compared to 363.4 billion won in the same period last year, this marks a 40.0% decrease. The average price per 3.3 square meters was 15.22 million won, reflecting a 3.7% drop from the previous quarter and a 3.2% decline from the same period last year.Both the metropolitan and non-metropolitan areas experienced a decrease in transactions. In the second quarter, the transaction volume for knowledge industry centers in the metropolitan area was 506 cases, with a transaction amount of 200.2 billion won, representing decreases of 31.9% and 34.1%, respectively, from the previous quarter. In non-metropolitan areas, transaction volume fell to 54 cases, a 53.0% drop, while the transaction amount plummeted to 17.7 billion won, a 72.9% decrease.In Seoul, the transaction volume was 125 cases, with a transaction amount of 74.3 billion won, down 39.3% and 45.8%, respectively, from the previous quarter. Among the districts, Geumcheon had the highest transaction volume with 39 cases, followed by Gangseo with 23 cases, and Guro and Yeongdeungpo each with 20 cases, while Songpa had 17 cases.In terms of transaction amounts, Yeongdeungpo led with 15.9 billion won, followed closely by Geumcheon with 15.7 billion won, Gangseo with 15.5 billion won, Guro with 13.4 billion won, and Songpa with 10.3 billion won. The average price per 3.3 square meters in Seoul was 24.03 million won, down 4.0% from the previous quarter.In Gyeonggi Province, the transaction volume for knowledge industry centers was 349 cases, with a transaction amount of 117.4 billion won, down 28.6% and 23.5%, respectively, from the previous quarter. Seongnam had the highest transaction volume with 39 cases, followed by Hanam with 36 cases, Yangju with 31 cases, Anyang with 30 cases, and Hwaseong with 29 cases.As concerns over high interest rates and oversupply persist, the knowledge industry center market is shifting towards areas in the metropolitan region where actual user demand remains, rather than investment demand.Jung Soo-min, CEO of Real Estate Planet, stated, “In the second quarter, the knowledge industry center transactions significantly contracted nationwide, with over 90% of the total transactions occurring in the metropolitan area. Even amid market stagnation, demand is increasingly concentrated in the metropolitan region.”* This article has been translated by AI. 2026-09-08 10:16:00
  • Kumho Petrochemical Receives Presidential Citation for High-Performance Synthetic Rubber Development
    Kumho Petrochemical Receives Presidential Citation for High-Performance Synthetic Rubber Development Kumho Petrochemical announced on September 8 that it received a Presidential Citation at the first National Day of Technology Development awards on September 7 for its achievements in developing high-value synthetic rubber.The National Day of Technology Development is a national commemorative day established to recognize researchers who contribute to technological advancement and to enhance the pride of those engaged in research and development. This date was chosen to commemorate the surpassing of 10,000 corporate research institutes in South Korea on September 7, 2004.The award ceremony was attended by Prime Minister Han Seung-soo, Koo Ja-kyun, chairman of the Korea Industrial Technology Association, and officials from the Ministry of Science and ICT. Kim Jae-yoon, a senior researcher from Kumho Petrochemical's rubber research lab, represented the company as an award recipient.The key achievement recognized by the Presidential Citation was the development of silica-friendly functional butadiene rubber, which is applied in high-performance tires. The tire industry has been increasingly using silica to enhance fuel efficiency and wet braking performance.However, conventional butadiene rubber, primarily used in tires, is known for its excellent wear resistance but has poor compatibility with silica, limiting simultaneous improvements in fuel efficiency, grip, and wear performance when mixed with silica.To address this limitation, Kumho Petrochemical focused on functional butadiene rubber, which was previously considered unsuitable for tire applications. A critical aspect was maintaining the performance achieved in the lab consistently during actual production processes. The company optimized the molecular structure and manufacturing conditions through repeated validations during pilot and commercial production stages, leveraging existing production processes to establish a stable commercialization foundation.As a result, Kumho successfully commercialized a material that enhances the silica compatibility of functional butadiene rubber, allowing for uniform dispersion of silica and improving tire wear performance, fuel efficiency, and wet braking capability.Additionally, Kumho Petrochemical established quality control standards tailored to the new synthetic rubber and proposed them to domestic and international tire manufacturers, successfully integrating them into their product management criteria. This marks the first instance of a manufacturer proposing synthetic rubber product management standards that were subsequently adopted by tire companies.A representative from Kumho Petrochemical stated, "This Presidential Citation recognizes our proactive identification of changes in the tire industry and our success in presenting new material possibilities and pioneering the market. We will continue to develop high-value materials that lead the market by uncovering potential customer demands."Meanwhile, Kumho Petrochemical achieved an earnings surprise in the second quarter of this year, reporting consolidated sales of 2.2682 trillion won and an operating profit of 339 billion won, exceeding market expectations.* This article has been translated by AI. 2026-09-08 10:12:00
  • Jeju petition to end visa-free entry for Chinese tops 20,000
    Jeju petition to end visa-free entry for Chinese tops 20,000 SEOUL, September 8 (AJP) - A petition calling for an end to visa-free entry for Chinese nationals and stronger immigration screening for foreign travelers has gained more than 20,000 signatures amid growing public concern over recent crimes and bizarre cases on Jeju Island. The petition, posted on the National Assembly's website late last month, has garnered some 24,794 signatures in about a week as of Tuesday. Supporters urged the government to scrap visa-free entry for Chinese nationals, arguing that public safety should be the priority. They also called for stricter screening of foreign visitors regardless of nationality by sharing criminal and immigration records with other countries including previous records of illegal stays, deportations and other immigration violations. Jeju's visa-waiver program currently allows eligible foreign visitors to stay on the southern resort island without a visa for up to 30 days. The program, introduced to boost tourism and attract international visitors, began with group travelers in 2002 and was expanded to individual travelers in 2008. It is now stoking fresh debate over public safety following a string of recent incidents on the island and criticism of police's belated response. AJP Takeaways - A South Korean National Assembly petition calling for an end to visa-free entry for Chinese nationals in Jeju has gathered 24,794 signatures in about a week as of Tuesday. - Petition supporters are calling for stricter screening of foreign visitors regardless of nationality, including greater sharing of criminal and immigration records such as illegal stays, deportations and other violations. - Jeju's visa-waiver program allows eligible foreign visitors to stay on the southern resort island for up to 30 days without a visa, but the policy is facing renewed public safety concerns. 2026-09-08 10:10:11