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  • Government Extends Fuel Tax Cut Amid Rising Oil Prices
    Government Extends Fuel Tax Cut Amid Rising Oil Prices The government will extend the fuel tax cut for two more months until the end of November to alleviate the burden on citizens from rising international oil prices. During the Chuseok holiday, fuel prices at 226 highway gas stations will be reduced by 100 won per liter, and electric vehicle charging fees will also be discounted during daytime hours.On September 18, the government held an emergency economic meeting and a meeting of economic ministers at the Government Sejong Complex, chaired by Deputy Prime Minister and Minister of Finance Ku Yun-cheol, to discuss measures for livelihood stability.As a result of this decision, the fuel tax cut, which was set to expire at the end of this month, will now last until November 30. The reduction rates will remain at 15% for gasoline and 25% for diesel and butane, maintaining the current levels. Notably, a higher reduction rate will be applied to diesel and butane, which are essential for industry and logistics, to ease fuel costs.From September 24 to 27, during the Chuseok holiday, the Korea Expressway Corporation will lower fuel prices by 100 won per liter at 226 gas stations it manages, compared to prices on September 17. This initiative aims to share the burden of high oil prices with the public while meeting expectations for improved services at highway rest areas.During the Chuseok period, when solar and other renewable energy supplies are abundant, electric vehicle charging fees will also be discounted. This measure is intended to pass on the benefits of expanded renewable energy to consumers.The 10th maximum oil price, which will take effect at midnight on September 19, is set to be announced at 6 p.m. on the same day. Deputy Prime Minister Ku stated, "We will make a decision after comprehensively reviewing the international oil price situation and the burden on citizens."This policy comes as uncertainties surrounding the Middle East have led to a significant increase in international oil prices. The price of Brent crude rose from $90.5 per barrel on August 31 to $105.8 on September 16. During the same period, West Texas Intermediate (WTI) increased from $85.8 to $102.4.The government believes that there will be no major disruptions in energy supply for the time being, thanks to diplomatic efforts, diversification of import sources, and strategic oil stock swaps. However, it plans to operate a task force with the refining industry to monitor crude oil supply daily and take necessary actions promptly.Deputy Prime Minister Ku acknowledged the solid fundamentals of the economy, citing increases in exports and improvements in domestic demand, but emphasized the need to remain vigilant against external uncertainties. He stated, "The government will not let its guard down and will maintain an emergency response system to ensure stable management of energy supply and prices, while implementing livelihood stability measures that citizens can feel."* This article has been translated by AI. 2026-09-18 08:56:00
  • North Korean leaders sister lashes out again at US-led drills
    North Korean leader's sister lashes out again at US-led drills SEOUL, September 18 (AJP) - Kim Yo-jong, the powerful sister of North Korean leader Kim Jong-un, again criticized a U.S.-led multinational military exercise in the Asia-Pacific, accusing Washington and its allies of escalating regional tensions and warning that Pyongyang could respond with stronger measures. In a statement carried by the state-run Korean Central News Agency on Friday, Kim condemned Pacific Vanguard, a two-week maritime exercise involving the U.S. and several of its allies including South Korea, Australia, Canada, Japan and New Zealand. The exercise was held in waters near Guam from Aug. 29 to Sept. 10. Calling it another U.S.-led "war game" intended to fuel confrontation and expand Washington's influence in the Asia Pacific, she also cited other multinational drills including Cobra Gold, Pitch Black, RIMPAC and Super Garuda Shield, arguing that the repeated participation of South Korea and Japan reflects deepening trilateral military cooperation. She also claimed that growing military cooperation among Washington, Seoul and Tokyo was aimed mainly at North Korea, warning that Pyongyang could take stronger action, "proportional or more offensive in its nature," if it deemed its sovereignty or security was under serious threat. She added that North Korea was prepared to "mobilize all means available" in response to what it considers “hostile” military activities. Her statement came just a day after she dismissed international calls for North Korea's denuclearization at the International Atomic Energy Agency's (IAEA) annual conference in Vienna, Austria this week. North Korea has frequently condemned these joint military exercises, calling them preparations for war. AJP Takeaways - Kim Yo Jong condemned Pacific Vanguard, a U.S.-led multinational maritime exercise involving the United States, South Korea, Japan, Australia, Canada and New Zealand, held near Guam from Aug. 29 to Sept. 10, 2026. - North Korea warned of a stronger military response if it considers its sovereignty or security under serious threat, with Kim Yo Jong saying Pyongyang could take action "proportional or more offensive in its nature" and "mobilize all means available." - Kim Yo Jong also rejected international calls for North Korea's denuclearization, reiterating Pyongyang's opposition to such demands a day before her criticism of the Pacific Vanguard exercise. 2026-09-18 08:55:07
  • Market Preview: KOSPI Expected to Rise on U.S. Stock Market Gains, Semiconductor Stocks Strong
    Market Preview: KOSPI Expected to Rise on U.S. Stock Market Gains, Semiconductor Stocks Strong The U.S. stock market rebounded strongly on September 18, driven by semiconductor and artificial intelligence (AI) stocks, leading to expectations of a higher opening for the domestic market. With the U.S. 10-year Treasury yield falling below 5% and international oil prices continuing to decline, the pressure on the market is easing, which is expected to improve investor sentiment, particularly in semiconductor stocks.On September 17 (local time), the three major indices on the New York Stock Exchange rose across the board. The Dow Jones Industrial Average increased by 0.61%, while the S&P 500 and Nasdaq Composite rose by 1.14% and 1.69%, respectively.Semiconductor and AI stocks led the gains. Micron surged by 5.50%, and SK Hynix's American Depositary Receipts (ADRs) rose by 4.64%. Nvidia also climbed by 2.54%, contributing to a 3.14% increase in the Philadelphia Semiconductor Index.U.S. Treasury yields showed signs of stability. Following the Bank of England's decision to hold its benchmark interest rate at 3.75%, European bond yields fell, leading to a decline in U.S. Treasury yields. The U.S. 10-year Treasury yield, which briefly exceeded 5% in the previous session, dropped to around 4.9%.International oil prices continued to decline. Concerns over supply disruptions from Saudi Arabia eased somewhat, with November Brent crude futures closing at $104.82 per barrel, down 0.95% from the previous session. October West Texas Intermediate (WTI) futures also fell by 0.51% to $101.91 per barrel.Seo Sang-young, a researcher at Mirae Asset Securities, stated, "The U.S. stock market rose as it absorbed the hawkish results from the recent Federal Open Market Committee (FOMC) meeting, alongside falling international oil prices and Treasury yields. In particular, semiconductor and AI stocks, which had been sluggish due to recent calls for a slowdown in AI development, led the gains."In the domestic market, the strength of U.S. semiconductor stocks is expected to continue to boost large-cap related stocks. In the NXT pre-market, major stocks, including semiconductor companies, are showing strong performance. As of 8:30 a.m., Samsung Electronics is up 2.97% compared to the previous session. SK Hynix has risen by 3.38%, SK Square by 3.27%, Samsung Electro-Mechanics by 3.98%, and LG Energy Solution by 1.51%.Today, the Bank of Japan (BOJ) is expected to hold a monetary policy meeting where an interest rate hike is anticipated. However, the market believes that the possibility of a hike has already been largely priced in, so attention will focus more on the future path of additional rate increases, comments from BOJ Governor Kazuo Ueda, and movements in the yen.Han Ji-young, a researcher at Kiwoom Securities, analyzed, "The domestic market is expected to show an upward trend as it digests the BOJ meeting while benefiting from the rebound in the U.S. stock market, particularly in semiconductor stocks, following the stabilization of the U.S. 10-year Treasury yield and a 2.9% rise in KOSPI night futures after the September FOMC."* This article has been translated by AI. 2026-09-18 08:48:00
  • Daehan Shipping Donates to Mokpo National Maritime University to Foster Future Talent
    Daehan Shipping Donates to Mokpo National Maritime University to Foster Future Talent Daehan Shipping, a subsidiary of SM Group, has once again contributed to the development fund to support the training of future talent for sustainable growth in the shipping industry.On September 16, Daehan Shipping held a ceremony to present the development fund at Mokpo National Maritime University in Jeonnam Province, as announced on September 18.The event was attended by Daehan Shipping CEO Min Sang-ki, Mokpo National Maritime University President Choi Boo-hong, scholarship recipients, and about 20 representatives from both the company and the university. Kwon Oh-gil, CEO of KLCSM, which is responsible for the maintenance, repair, and overhaul of vessels including Daehan Shipping and SM Line, also participated in the event.Since 1987, Daehan Shipping has established a cooperative relationship with Mokpo National Maritime University by donating to the development fund annually for 40 years. After becoming part of SM Group in 2013, the company has continued to contribute to regional revitalization and talent development in line with Chairman Woo Oh-hyun's focus on ESG (Environmental, Social, and Governance) management.The development fund presented this time will be awarded as scholarships to students who excelled in Daehan Shipping's onboard training evaluations. Additionally, the company plans to offer these students extra points in future hiring processes to attract talent.CEO Min stated, "In the midst of the massive changes brought by the Fourth Industrial Revolution, the environment surrounding the global shipping industry is rapidly evolving. Ultimately, our competitiveness comes from having excellent personnel actively working in the field. We will support aspiring maritime officers to develop both expertise and practical skills, enabling them to become key players in the future of Korea's shipping industry."In response, President Choi expressed gratitude, saying, "We deeply appreciate Daehan Shipping for its unwavering support and interest in nurturing talent over the past 40 years. We will continue to provide the best educational environment for our students to become the next generation of maritime experts."Meanwhile, Daehan Shipping has also been donating scholarships to Korea Maritime and Ocean University since 1985, alongside its partnership with Mokpo National Maritime University. On September 2, a ceremony to present the development fund was held at Korea Maritime and Ocean University in Busan, attended by CEO Min and President Ryu Dong-geun.* This article has been translated by AI. 2026-09-18 08:48:00
  • EL&F to Expand NCM and LFP Production, Aiming for 4.5-Fold Increase by 2030
    EL&F to Expand NCM and LFP Production, Aiming for 4.5-Fold Increase by 2030 EL&F is restructuring its business portfolio around high-nickel NCM (nickel, cobalt, manganese) and lithium iron phosphate (LFP) cathode materials. In response to the temporary demand stagnation in the electric vehicle market and changes in the battery sector, the company plans to significantly expand its LFP operations and target new demand areas such as 46mm batteries and robotics, with a goal of increasing total shipments to 4.5 times the 2025 level by 2030.According to industry sources, EL&F held its '2026 Investor Day' on September 17 at its facility in Gyeongsan, Daegu, where it unveiled its long-term growth strategy to domestic and international institutional investors and analysts.This event was organized to share EL&F's long-term business strategy in response to global battery market changes, the current status of key projects, and the competitiveness of next-generation cathode material technologies directly with investors.Building on its technological expertise in high-nickel NCM, EL&F aims to continue developing products that meet the demands of the next-generation battery market. The company has set a target of achieving an average annual growth rate of 23% in NCM shipments by 2030, responding to the growing adoption of its 46mm products, which began supply in late 2022, and expanding its application areas to include new sectors like robotics.In the LFP sector, EL&F's strategy focuses on securing performance competitiveness based on high-density products while establishing a differentiated competitive edge in the global energy storage system (ESS) and affordable electric vehicle (EV) markets through domestic production and non-Chinese supply chains. The company plans to begin shipments of LFP cathode materials for ESS in 2026, marking the start of its full-scale entry into the non-Chinese ESS market, with plans to expand applications to affordable EVs in the future.EL&F is accelerating its competitiveness in LFP mass production through its wholly-owned subsidiary, EL&F Plus, which is dedicated to LFP cathode production and sales. EL&F Plus shipped its first pilot products from the country's first LFP cathode mass production line at the end of July. By the end of the third quarter, it plans to commence mass production of LFP cathode materials at an annual capacity of 30,000 tons, with a phased plan to establish a total production capacity of 60,000 tons by the first half of 2027. The company is also considering expanding LFP production capacity to over 120,000 tons to meet the growing global ESS demand and additional supply requests from multiple customers.During the event, EL&F shared the progress of its long-term goals presented at the first Investor Day in 2024. Thanks to strengthened competitiveness in high-nickel products and the expansion of its LFP business, the company expects its shipments in 2026 to double compared to 2024, with projections indicating that 2027 shipments will exceed the previously set targets. Additionally, the proportion of new overseas customers is also expected to surpass the initial goals.Ryu Seung-heon, Chief Financial Officer of EL&F, stated, "We will enhance the technological competitiveness of high-nickel NCM and actively expand our LFP business while broadening our business base into new growth areas such as 46mm and robotics. We will continuously diversify our product and customer portfolio to improve our responsiveness to market changes." 2026-09-18 08:44:00
  • New Book Explores Why Japanese People Hide Their True Feelings
    New Book Explores Why Japanese People Hide Their True Feelings Why do Japanese people often conceal their true feelings? Even in close relationships, they tend to draw physical and psychological boundaries.The new book Curious About Japan delves into the mindset and behaviors of Japanese people, which may seem familiar yet foreign to Koreans, through 100 thought-provoking questions. Written by Professor Yoon Kyung-min of Eulji University, who majored in Japanese and served as a YTN Tokyo correspondent for three years, the book is based on extensive research and firsthand experience.The author examines Japanese behavior through cultural concepts such as 'meiwaku' (迷惑), which refers to the aversion to causing inconvenience to others, and 'wa' (和), which emphasizes harmony. The book explores the roots of Japanese kindness, sense of order, and the tendency to maintain a certain distance in relationships.The questions begin with everyday observations. Why do Japanese people use pointed chopsticks? Why do they place chopsticks horizontally on the table? While Koreans mix soju with beer, why do Japanese people dilute their soju with water? Through familiar topics like food and drink, the book highlights cultural differences between the two countries.The scope of inquiry broadens to societal aspects. It discusses the preference for cash over credit cards, dating culture between men and women, the development of the adult video industry, attitudes toward natural disasters, and the rarity of profanity in the language. The book also addresses perceptions of the emperor, the long-term rule of the Liberal Democratic Party, historical issues, and the phenomenon of the Korean Wave alongside anti-Korean sentiment.The author states, “After reading this book and observing Japanese people during a visit to Japan, you will find yourself nodding in agreement. You will truly realize that you see what you know.” The book is available for purchase through the internet-based Kyobo Bookstore in a print-on-demand format. 2026-09-18 08:36:00
  • Bitcoin Recovers to $76,000 Despite Feds Rate Hike Signals
    Bitcoin Recovers to $76,000 Despite Fed's Rate Hike Signals Bitcoin has recovered to the $76,000 range despite the Federal Reserve's interest rate hike. Analysts attribute this recovery to the market having largely priced in the rate increase and a surge in buying activity in the spot market.According to CoinMarketCap, as of 8 a.m. on September 18, Bitcoin was trading at $76,300, up 0.92% from the previous day.Major altcoins also showed strength. Ethereum rose 2.16% to $2,441, while Solana jumped 3.86% to $101.23. Binance Coin (BNB) increased by 2.32% to $734.79. In contrast, Ripple (XRP) experienced a decline of 0.60%, trading at $1.29.Despite the Fed's signals for further tightening, the cryptocurrency market has remained relatively stable. The Fed raised the benchmark interest rate by 0.25 percentage points to a range of 3.75% to 4.00% and hinted at the possibility of additional increases later this year.Typically, rising interest rates are seen as negative for risk assets like Bitcoin, as higher rates make safer investments like bonds more attractive, potentially reducing the flow of funds into riskier assets.However, Bitcoin's rise is believed to be due to the market having already factored in the Fed's decision. Cooper Dushan, a research analyst at the cryptocurrency trading platform Talos, told Cointelegraph, "Initial market reactions suggest that the Fed's decision was largely anticipated in the cryptocurrency market. Despite declines in the stock market, Bitcoin has maintained a relatively stable position compared to levels before the rate announcement."While price fluctuations have been modest, changes in supply and demand dynamics have emerged within the spot and derivatives markets. Dushan noted that approximately $15.5 million in net buying has flowed into the Bitcoin spot market, indicating that spot demand has absorbed some of the selling pressure from the derivatives market.Meanwhile, domestic Bitcoin prices also showed an upward trend. As of 8 a.m., Bitcoin was trading at 1,046,400 won on Bithumb, reflecting a 0.01% increase from the previous day. The 'Kimchi premium,' which indicates how much higher domestic prices are compared to international prices, was recorded at -0.04%.* This article has been translated by AI. 2026-09-18 08:28:00
  • SK Telecom Launches Emotion Lab Exhibition at T Factory Seongsu
    SK Telecom Launches 'Emotion Lab' Exhibition at T Factory Seongsu SK Telecom (SKT) announced on September 18 that it will host a new exhibition titled 'Emotion Lab' at its brand experience space, T Factory Seongsu, from September 19 to November 15.The Emotion Lab is the second exhibition in the Data Center Series, which translates the concepts of 'storage, processing, and connection' into customer experience content.This exhibition is a collaboration with the specialized brand 'Random Diversity,' which has implemented emotional data through sensory elements like color and scent.On the first floor of T Factory Seongsu, visitors can create their own fragrances in the 'Scent of Emotion' experience.The basement level will feature a paid experience called 'Color of Emotion,' where visitors' brainwaves and physiological responses are analyzed while viewing photos to determine colors that correspond to their emotions.Additionally, visitors can explore the 'Emotion Vial Media Wall,' which expresses others' emotions through color, and the 'Emotion Vaccine Library,' which shares stories behind different colors, both located in the basement.T Factory Seongsu will also offer a 'T Factory Lounge' for relaxation alongside the exhibition experiences.Yoon Jae-woong, head of SKT's Product & Brand Division, stated, "This exhibition was designed to convey emotions by translating them into scents and colors. We aim to allow customers to naturally experience the SKT brand in their daily lives through T Factory Seongsu."Previously, SKT held its first exhibition themed around 'photography' in May.* This article has been translated by AI. 2026-09-18 08:28:00
  • U.S. Tightening Raises Concerns Over National Debt Costs and Economic Growth
    U.S. Tightening Raises Concerns Over National Debt Costs and Economic Growth The U.S. Federal Reserve's recent interest rate hike, the first in over three years, has raised concerns about the government's bond procurement costs for next year. Although the total issuance of government bonds is expected to decrease slightly compared to this year, the volume of maturing bonds that need to be refinanced is significantly increasing. If market interest rates rise above initial budget assumptions, the interest burden could grow. However, existing bonds have fixed rates, meaning that increases in market rates do not immediately affect the overall national debt.According to the Ministry of Economy and Finance and the Office for Government Policy Coordination, the government has assumed a government bond rate of 4.1% while preparing next year's interest expenditure budget. On September 17, the yield on three-year government bonds closed at 4.063%, while the ten-year bonds finished at 4.506%. It is difficult to definitively state that there is a significant gap between the assumed rates during budget preparation and the actual market rates, but long-term bonds are already forming rates around 4.5%.Additionally, the Federal Reserve raised its benchmark interest rate by 0.25 percentage points to a range of 3.75% to 4.00% on September 16, leaving open the possibility of further increases this year, which could add upward pressure on domestic bond rates.However, the increase in U.S. rates does not immediately translate into a surge in government interest costs. Existing government bonds pay fixed interest rates established at the time of issuance, meaning the actual burden increases only when new bonds are issued or when maturing bonds are refinanced at higher rates.Next year, the volume of maturing bonds alone is expected to reach 110.7 trillion won. If the refinancing rates exceed those of existing bonds, interest costs could accumulate alongside new issuances. A structural increase in interest expenses could limit the resources available for other fiscal projects aimed at growth and public welfare.According to the recently announced 2027 budget proposal, the government plans to issue a total of 222.8 trillion won in government bonds next year, a decrease of 2.9 trillion won from this year's issuance plan of 225.7 trillion won. Of this, 96.3 trillion won will be for new fiscal needs, while 110.7 trillion won will be for maturing bonds. The amount allocated for market-making activities, including buybacks and exchanges, is set at 15.9 trillion won.The Ministry of Economy and Finance indicated that there is room to adjust the proportion of ultra-long-term bonds, such as 20, 30, and 50-year bonds, based on market conditions. By spreading out the issuance timing or adjusting the proportion of bonds by maturity according to market conditions, the short-term impact of rising rates could be somewhat mitigated.However, a ministry official noted that it is challenging to calculate the impact of changes in U.S. benchmark rates on domestic bond procurement rates based solely on the benchmark rate. Government bond rates are influenced by various factors, including the interest rate differential between South Korea and the U.S., domestic and international bond supply and demand, and the national debt situation.On September 17, the domestic bond market did not show an immediate surge following the Fed's rate hike. This is interpreted as a result of the market already pricing in expectations of the Fed's rate increase, along with other variables affecting domestic rates.Experts predict that the U.S. rate hike is likely to impact domestic rates. Professor Kang Sung-jin of Korea University stated, "The Bank of Korea is also likely to raise its benchmark rate, which could affect government bond rates. Newly issued bonds may bear higher procurement rates due to rising market rates."He further advised that the government's fiscal response should focus on vulnerable groups, as the impact of rising rates varies among economic actors. He noted, "Low-income individuals and small business owners, who carry significant debt and have limited capacity to absorb such burdens, may be more adversely affected by rising rates. The government needs to develop targeted fiscal policies for these groups."* This article has been translated by AI. 2026-09-18 08:20:00
  • Hyundai Motor Securities: Hanssems Profit Recovery Limited by Weak Construction Market
    Hyundai Motor Securities: Hanssem's Profit Recovery Limited by Weak Construction Market Hyundai Motor Securities projected on September 18 that Hanssem's rapid profit recovery in the second half of the year will be limited due to the ongoing weak construction market. The firm maintained its investment rating of 'Market Perform' and a target price of 38,000 won.Shin Dong-hyun, a researcher at Hyundai Motor Securities, noted, "While the revenue from the re-house segment exceeded expectations, the significant decline in B2B sales due to the sluggish construction market led to overall poor sales performance." For the second quarter of this year, Hanssem reported consolidated sales of 417.2 billion won, a 9.2% decrease compared to the same period last year. Operating profit, however, rose to 11.3 billion won, marking a 400.2% increase, with an operating profit margin of 2.7%.The re-house business performed relatively well, with apartment sales transactions increasing by 22.6% year-on-year in the first quarter, leading to a 12.8% rise in re-house sales in the second quarter. However, with a 6.6% decrease in apartment sales transactions in June, followed by a mere 0.4% increase in July, there are concerns that the growth momentum in re-house sales may stagnate.The decline in B2B sales also poses a challenge to recovery. Hanssem's B2B sales typically lag construction starts by about two years and precede completions and occupancy by about two quarters. Currently, the volume of completed projects has decreased by 41.4% year-on-year as of July. Hyundai Motor Securities anticipates that, considering the construction volume since 2023, the volume of completed projects will continue to be low over the next three years.Shin added, "There is pressure from vendors to raise prices due to rising raw material costs, and tax-related expenses from the merger with Hanssem Nexus are expected to be recognized in the third quarter's operating costs, limiting rapid profit recovery in the second half of the year." Hyundai Motor Securities has revised its sales forecast for Hanssem this year down from 1.779 trillion won to 1.657 trillion won, a decrease of 6.8%. The sales forecast for next year was also lowered from 1.870 trillion won to 1.714 trillion won, an 8.3% reduction. However, the operating profit forecast for this year was raised from 35 billion won to 37 billion won, a 5.3% increase.Shin maintained the target price of 38,000 won and the 'Market Perform' rating, considering the reduced rate of increase in housing prices and the gradual recovery of supply volumes.* This article has been translated by AI. 2026-09-18 08:20:00