Latest by
-
Lotte Card's Vietnam Subsidiary Becomes First Domestic Financial Firm to Transition to Comprehensive Finance Lotte Card's subsidiary in Vietnam is set to become the first domestic financial company to transition into a comprehensive finance firm. Moving beyond personal loans and credit cards, the company aims to expand its business scope to include corporate loans and leasing, thereby enhancing its local revenue base.On September 7, Lotte Card announced that its Vietnam subsidiary, Lotte Finance Vietnam, received approval from the State Bank of Vietnam (SBV) on August 28 to change its status from a 'consumer finance company' to a 'comprehensive finance company.'This marks the first instance of a domestic financial company in Vietnam transitioning to a comprehensive finance firm among consumer finance companies.With this approval, Lotte Finance Vietnam can now broaden its target clientele from individual consumers to include businesses and entrepreneurs.In particular, the Vietnamese government's eco-friendly policies are driving the adoption of electric vehicles, prompting the company to develop financing options for commercial electric vehicles as a new growth area.Lotte Finance Vietnam will also enter the leasing business. After entering the automotive leasing market, the company plans to expand its offerings to include medical equipment and construction machinery in the future.The name of Lotte Finance Vietnam will also be changed to Lotte General Finance Vietnam. Additionally, starting next year, the company plans to strengthen its corporate review organization to enhance its risk assessment system and increase corporate loans, focusing on existing partners.Lotte Card explained that it received support from the Financial Services Commission, the Financial Supervisory Service, and the Vietnamese Embassy in South Korea during the approval process.Jung Sang-ho, CEO of Lotte Card, stated, "This transition to a comprehensive finance company will allow us to expand our business portfolio and diversify our revenue base, establishing a foundation for long-term growth. We expect the growth of our Vietnam subsidiary to contribute to enhancing Lotte Card's corporate value as well."* This article has been translated by AI. 2026-09-07 09:16:10 -
KOSPI Surges Over 3% as Samsung Electronics and SK Hynix Rally Past 6900 The KOSPI index surged more than 3% in early trading on September 7, surpassing the 6900 mark. Despite a decline in U.S. markets overnight, semiconductor stocks showed strength, with foreign and institutional investors buying shares of Samsung Electronics and SK Hynix, driving the index higher.As of 9:05 a.m., the KOSPI was up 209.61 points (3.13%) at 6896.82. At one point, it reached 6910.78, breaking through the 6900 level.In the securities market, foreign and institutional investors net bought 223.5 billion won and 74.3 billion won, respectively, while individual investors net sold 302 billion won.Among the top market capitalization stocks, semiconductor shares were particularly strong. Samsung Electronics rose 3.91% to 265,500 won, while SK Hynix increased by 5.34% to 1,735,000 won. Other gainers included SK Square (5.57%) and Samsung Electro-Mechanics (3.35%). Hyundai Motor (1.69%) and KB Financial (1.74%) also saw increases.The KOSDAQ index was up 11.76 points (1.45%) at 825.26 at the same time. Individual investors net bought 23.6 billion won, while foreign and institutional investors net sold 19.5 billion won and 3.3 billion won, respectively.Top KOSDAQ stocks generally showed upward trends. EcoPro (0.12%), EcoPro BM (0.09%), and Rainbow Robotics (0.22%) were among those rising. Notably, semiconductor-related stocks such as IOTech (5.53%), Wonik IPS (4.18%), Simtek (3.99%), JUSUNG Engineering (3.87%), and Rino Industry (2.70%) experienced significant gains. In contrast, Alteogen fell by 0.52%.Overnight, U.S. markets declined amid concerns over interest rate hikes following strong employment data. On September 4, the Dow Jones Industrial Average fell by 0.51%, the S&P 500 dropped by 0.38%, and the Nasdaq Composite decreased by 0.29%. However, the Philadelphia Semiconductor Index rose by 3.4% as demand for artificial intelligence (AI) continued to gain attention.Lee Kyung-min, a researcher at Daishin Securities, noted, "The U.S. semiconductor investment demands were officially discussed in the Korea-U.S. investment negotiations. While specific investment methods and amounts have not been determined, the possibility of expanding production facilities in the U.S. for Samsung Electronics and SK Hynix is being mentioned."Meanwhile, pressure from U.S. President Donald Trump on the Federal Reserve to lower interest rates and geopolitical tensions in the Middle East are seen as factors that could increase market volatility. As semiconductor investments are officially on the agenda in the Korea-U.S. negotiations, the potential expansion of production facilities by Samsung Electronics and SK Hynix is also drawing market interest.* This article has been translated by AI. 2026-09-07 09:16:00 -
Korea Tourism Organization Reports $19.6 Million in Revenue from Mongolia Medical Tourism Roadshow The Korea Tourism Organization (KTO) has launched a medical tourism initiative targeting workers in Mongolia's mining sector and VIPs in the financial industry, generating an estimated revenue of 19.6 billion won.KTO announced on September 7 that it held the '2026 Mongolia-Korea Medical Tourism Roadshow' from September 4 to 6 in Ulaanbaatar and Dalanzadgad.Last year, the number of medical tourists visiting Korea surpassed 2 million for the first time, reaching 2.01 million. Among these, Mongolia is recognized as a key high-value market for medical tourism, with 35,586 Mongolian medical tourists accounting for 21.3% of all Mongolian visitors to Korea. The average growth rate over the past three years has been 27.4%, with per capita spending around 9.88 million won, 1.5 times higher than the average of 6.73 million won for all medical tourists.KTO established its Ulaanbaatar office in 2017 and hired a dedicated medical tourism manager in 2019 to strengthen its local outreach. Last year, it also expanded into the mining city of Erdenet.During the roadshow, KTO focused on the mining sector, which accounts for 94% of Mongolia's exports and 30% of its GDP, as well as the growing demand for medical tourism. KTO held discussions with the Mongolian National Mining Association, which employs around 90,000 workers, proposing tailored health check-ups and specialized wellness programs for employees. Additionally, KTO discussed introducing customized medical tourism products with the Genghis Khan National Wealth Fund and its 17 affiliated mining companies. Plans were also reviewed for developing medical and wellness packages that include employees and their families in collaboration with five key local medical tourism companies.KTO also strengthened partnerships with local financial groups. On September 4, during the 'Korean Medical Tourism Night' event in Ulaanbaatar, KTO signed a memorandum of understanding with the Mandal Financial Group, which holds about 90% of Mongolia's asset management market, to promote medical tourism to Korea, leveraging its network of 260,000 customers for joint product development. Discussions with the Trade and Development Bank of Mongolia (TDB) included expanding the 'Britto Care' medical fee discount program and developing high-end wellness products for VIPs.The roadshow featured both business-to-business (B2B) and business-to-consumer (B2C) marketing efforts. A total of 59 representatives from 23 Korean medical institutions and tourism companies participated, conducting one-on-one consultations with over 200 Mandal VIP clients. The event then moved to Dalanzadgad in Umnugovi Province, home to the globally recognized Oyu Tolgoi mine, where a customized consultation booth was set up for around 800 employees and local residents.KTO successfully facilitated 803 consultations during the roadshow, resulting in an estimated revenue of 19.6 billion won.Park Sung-hyuk, president of KTO, stated, "Through this roadshow, we conducted relay meetings with key local institutions and financial sectors, including the Mongolian National Mining Association, medical tourism companies, TDB, Genghis Khan National Wealth Fund, and Mandal Financial Group. Currently, we are operating a 'Healthy Miner' product in collaboration with a prominent local travel agency and are proposing the 'Happy Miner Campaign,' a health promotion program targeting Mongolian miners, to attract more medical tourists from Mongolia." 2026-09-07 09:16:00 -
Vietnam's National Assembly Chair Prioritizes Technology and Economic Cooperation During Visit to South Korea On the first day of his official visit to South Korea, Vietnam's National Assembly Chair, Tran Thanh Man, highlighted technology cooperation, economic exchange, and the expansion of human networks as key priorities for the future of Korea-Vietnam relations. He met with Vietnamese innovation experts, friendly organizations, and overseas communities in South Korea, stressing the need to enhance collaboration in strategic areas such as AI, semiconductors, and supply chains, and to translate cultural and private exchanges into tangible outcomes.According to Vietnamese media, including Vietnam News, Tran Thanh Man arrived at Seoul's Seongnam Airport on September 6, leading a high-level Vietnamese delegation at the invitation of National Assembly Speaker Kim Jin-pyo. Shortly after his arrival, he met with members of the Vietnamese innovation and expert network in South Korea, emphasizing the importance of strengthening technological capabilities.This network, established in 2019 under the auspices of the National Innovation Center, has become a key platform connecting experts, intellectuals, scientists, entrepreneurs, and engineers across 15 member networks in 22 countries and regions over the past six years.During the meeting, Tran expressed his hope that the Vietnamese innovation and expert network in South Korea would play a significant role in expanding Vietnam's knowledge and technological capabilities. He urged participants to share their experiences in technology development, acquisition, and commercialization, and to propose models, systems, and solutions tailored to Vietnam's context.Attendees voiced the need for Vietnam to focus resources on core strategic technologies with long-term goals. They referenced a decision issued by the Vietnamese Prime Minister outlining ten key technology areas, including AI, semiconductors, robotics, biotechnology, environmental technology, and new energy, and called for the establishment of national programs with five- and ten-year timelines.They also highlighted the necessity of improving systems that connect research outcomes to the market. A collaborative structure involving the state, universities, research institutions, and businesses was deemed essential, along with changes to funding support and evaluation methods for research and development. Additionally, they noted the importance of accepting scientific risks within manageable limits.On the same day, Tran met with friendly figures from Vietnam, requesting an expansion of economic cooperation and cultural exchanges. This event was co-hosted by the Vietnam Friendship Association and the Vietnamese Embassy in South Korea, with over 70 representatives from Korean intellectuals, associations, private organizations, businesses, and NGOs active in Vietnam in attendance.Tran praised the contributions of South Korean NGOs, associations, scientists, and businesses to the achievements of Korea-Vietnam relations over the past 35 years since diplomatic ties were established. He stated, "There is still much potential and opportunity for cooperation between our two countries," urging organizations such as the Korea-Vietnam Friendship Association and groups of Koreans who love Vietnam to continue promoting economic cooperation and cultural exchanges.He also emphasized the need for increased attention to the communities of Koreans in Vietnam and Vietnamese in South Korea. Tran called for enhanced cooperation in areas such as science and technology, education and training, healthcare, strategic supply chains, semiconductors, renewable energy, clean energy, digital transformation, and AI. He expressed hope that South Korean scientists and entrepreneurs would continue to seek investment opportunities in large projects in Vietnam.South Korean officials commended Vietnam's recent achievements, noting that cooperation between the two countries' parliaments serves as a foundation for the development of private exchanges. Lee Shin-jae, president of the Korea-Vietnam Friendship Association (KOVIFA), emphasized a commitment to actively contribute to bilateral cooperation with a spirit of turning words into practical actions. He stated plans to expand activities beyond traditional cultural and humanitarian exchanges into areas such as AI, infrastructure, and logistics.Kwon Sung-taek, president of the Korea-Vietnam Economic and Cultural Association (KOVECA), announced intentions to further enhance cultural and youth exchanges. He expressed a commitment to helping future generations of both countries build strong friendships and ensuring that multicultural families, international students, and the Vietnamese community in Korea, as well as the Korean community in Vietnam, serve as strong bridges connecting the two nations.Additionally, Tran discussed key tasks of parliamentary diplomacy with officials from the Vietnamese Embassy in South Korea and the Vietnamese community. He assessed that relations between the two countries are developing positively in areas such as politics, trade, investment, culture, defense, and security. He added that building technology, enhancing supply chains, and increasing the role of the Vietnamese community in South Korea should be central to parliamentary diplomacy.* This article has been translated by AI. 2026-09-07 09:12:10 -
KB Securities Raises CJ CGV Target Price Amid Strong Theater Demand KB Securities announced on September 7 that it has raised its target price for CJ CGV to 6,000 won, citing stronger-than-expected theater demand and the potential for financial improvement following investments from the National Growth Fund in 4DPLEX. The firm maintained its 'buy' rating.In a report released that day, analyst Choi Yong-hyun stated, "Given the major film release schedule and the Chuseok holiday in September, we expect strong demand to continue."Choi also projected that third-quarter operating profit would reach 56.4 billion won, exceeding the consensus estimate of 43.8 billion won, and that the number of moviegoers in the third quarter could reach 40 million.He noted, "The success of films like and , along with policy support, is boosting theater demand," adding that the 4DX segment is expected to generate around 9 billion won in operating profit, driven by the performance of in 4DX and ScreenX formats.Furthermore, Choi mentioned that 4DPLEX is set to attract 220 billion won in investments from the National Growth Fund, which he believes will reduce financial burdens and accelerate the global penetration of 4DPLEX.He concluded, "There is a growing global demand for specialized technology theaters, as evidenced by the stock performance of IMAX and Sphere Entertainment. This investment will enable 4DPLEX to enhance its technology and increase the number of screens in theaters worldwide, achieving economies of scale."* This article has been translated by AI. 2026-09-07 09:12:10 -
Global Financial Markets on Edge as U.S.-Iran Conflict Drives Oil Prices Higher As the military conflict between the United States and Iran continues, volatility in global financial markets is increasing ahead of the U.S. consumer price index (CPI) release for August and key monetary policy meetings in major economies. With escalating tensions in the Middle East causing a surge in international oil prices, there is growing concern that higher-than-expected inflation in the U.S. could lead to an increased likelihood of interest rate hikes by the Federal Reserve.According to the International Financial Center, Brent crude oil prices rose by 7.80% to $96.28 per barrel on September 4, compared to the previous weekend. The ongoing military conflict has significantly reduced the number of vessels passing through the Strait of Hormuz, a crucial oil transport route. Market analysts are increasingly worried about potential disruptions to oil supply, as the likelihood of a swift resolution to the conflict diminishes.OPEC+, the coalition of major oil-producing countries, has decided to maintain its current production policy in October. However, due to the impact of the Middle Eastern conflict, actual supply levels are falling well short of targets, suggesting continued uncertainty in oil prices.The upcoming U.S. CPI report, scheduled for release on September 11, is expected to be a key factor influencing the Fed's monetary policy direction. Analysts predict that the headline CPI will show a year-over-year increase of 3.4%, remaining unchanged from the previous month, while the month-over-month increase is expected to rise from 0.1% to 0.4%. Core CPI is projected to increase by 2.4% year-over-year and 0.2% month-over-month. Given the persistent inflation concerns, the Fed's interest rate trajectory may shift based on the detailed indicators.Additionally, the European Central Bank (ECB) monetary policy meeting scheduled for September 10 is another variable to watch. The market anticipates a 0.25 percentage point increase in key policy rates, with attention focused on whether further rate hike signals will be issued.The strengthening of the Japanese yen has also emerged as a factor that could influence global capital flows. The yen appreciated by 2.45% against the dollar last week, reaching 156.26 yen. Factors contributing to the yen's strength include expectations of further interest rate hikes by the Bank of Japan, potential selling of foreign bonds by Japanese investors, and a narrowing interest rate gap between the U.S. and Japan.If the interest rate gap between the U.S. and Japan continues to narrow, there may be a reduction in yen carry trades. Market estimates suggest that positions betting on a weaker yen could amount to as much as 17 trillion yen, and if these positions are fully liquidated, the dollar-yen exchange rate could drop to between 142 and 146 yen. Nomura has analyzed that, in an extreme scenario, the Bank of Japan could implement three consecutive interest rate hikes.* This article has been translated by AI. 2026-09-07 09:08:00 -
Korea's Credit Guarantee Fund Shares Insights on Financial Innovation with Poland and Thailand The Korea Credit Guarantee Fund (KCGF) announced on September 7 that it held a working meeting with the Poland Development Bank (BGK) and the Thailand Credit Guarantee Corporation (TCG) to share insights on credit guarantee systems and financial innovations. KCGF conducted the '2nd Poland Working Meeting' from August 24 to 28 and the '20th Thailand Working Meeting' from August 31 to September 4. The Poland meeting was organized under a knowledge exchange agreement signed with BGK last year. The delegation, including BGK's Deputy President Marta Postuła, discussed key projects and credit guarantee systems of both institutions, as well as topics such as risk management, digital transformation, and financing for innovative startups. The representatives also addressed ways to enhance economic cooperation between Korea and Poland. In the subsequent meeting with TCG, KCGF presented its 50-year history of credit guarantees and showcased examples of AI and data-driven financial innovations. Both organizations discussed strategies to strengthen the global competitiveness of companies in their respective countries and support their international expansion. TCG, a public financial institution under the Thai Ministry of Finance, has been holding regular working meetings with KCGF since 2004. The delegations also visited 'NEST Gwangjin,' a specialized incubation space for startups, and the 'Credium' educational and promotional center to observe the support provided to startup growth and KCGF's key achievements. KCGF Chairman Kang Seung-jun stated, “We will continue to strengthen economic cooperation through close exchanges with global partner institutions and further develop the credit guarantee systems of each country.”* This article has been translated by AI. 2026-09-07 09:04:20 -
Hyundai Faces Concerns Over Competitive Edge Against Tesla Concerns about Hyundai Motor Group's future competitiveness have sparked debate following a post that circulated on the anonymous workplace community, Blind.On September 6, a post by an employee of Hyundai Mobis compared the technological competition between Hyundai and Tesla to the rivalry between feature phones and smartphones. The author, identified as A, argued that while Hyundai emphasizes the product features such as space, convenience, and design, competitors like Tesla are fundamentally changing the concept of automobiles by focusing on autonomous driving.A highlighted several features of Hyundai vehicles, including: a driver's seat that rotates backward, uniquely opening doors, an automatic stop function in suspected sudden acceleration situations, and an emphasis on design elements such as interior, sound, materials, grille, and lamps.In contrast, A pointed out Tesla's innovations, such as vehicles without pedals, steering wheel-less technology, and alternatives to side mirrors, suggesting that the two companies are pursuing fundamentally different paths in technology development.A specifically criticized Hyundai for concentrating on enhancing existing automotive functions and product appeal while Tesla focuses on changing the very way cars are driven.The post quickly spread across various online communities, prompting a range of opinions about Hyundai's future competitiveness.One user questioned the practicality of Hyundai's new technologies, stating, "I wonder how useful a rotating seat really is. I don't understand why they would create something that might only be used once a year. Even if it's for camping, why would you buy a GV90?"Conversely, another user expressed optimism, saying, "The automotive industry has a longer transition period, so there are still plenty of opportunities ahead."Some analysts cautioned against viewing Tesla as the sole competitor in the autonomous driving technology race. One user remarked, "Honestly, I think it's already too late for them to catch up on their own. Google is selling Waymo technology, and NVIDIA is developing a full-stack platform for Level 4, so Tesla will likely be more focused on those two companies. Many automakers are already collaborating with NVIDIA and Waymo."Concerns were also raised about Hyundai's pricing competitiveness. One user noted, "Tesla isn't the problem. Looking at the price of the Avante at 30 to 40 million won, it seems the low-cost market will soon be taken over by BYD. The only place Korean cars can still compete is where anti-China sentiment is strong."Another user echoed similar sentiments, stating, "Honestly, Hyundai cars can no longer be considered low-cost. They are being overshadowed by Chinese cars at the lower end, and Tesla is dominating the electric vehicle market. It feels like their position is becoming increasingly ambiguous."They added, "When I ask my friends in their 30s what car they want next, they all say Tesla."On the other hand, there were also voices praising Hyundai's competitiveness. In a female-dominated community, some users questioned the validity of the criticisms, stating, "What kind of company is Hyundai to make such claims?" and "Considering after-sales service, Hyundai is the top choice in our country."Another user emphasized the importance of service quality, saying, "If I buy a car worth several million won and then have to deal with stress over after-sales service, that would be really tough."Another user pointed out that Hyundai is investing in various future technologies, asserting, "In terms of features, Hyundai offers good value for money."However, some users expressed the need for Hyundai to feel a sense of urgency in the autonomous driving sector. They noted, "China already has driverless taxis on the road, while we don't even have a system in place, which is slow and concerning," urging Hyundai to recognize the competitive threat posed by Tesla and Chinese companies.This situation highlights a clash of perspectives: while traditional automakers focus on enhancing driving performance, design, convenience features, and interior space, companies like Tesla are attempting to fundamentally change the way cars are used through autonomous driving and software innovations. At the same time, Hyundai continues to invest in future mobility areas such as autonomous driving, robotics, and electric vehicles, making it difficult to definitively assess its future competitiveness based solely on current technological gaps.* This article has been translated by AI. 2026-09-07 09:04:00 -
SOOP to Burn 18.9 Billion Won in Treasury Shares, Reducing Outstanding Shares by 2.7% SOOP will burn approximately 18.9 billion won worth of treasury shares, which represents about 2.7% of its total outstanding shares, as part of its shareholder return policy.On September 7, SOOP announced that its board of directors decided on September 4 to burn 306,375 shares of common stock held by the company.The planned amount for the burn is approximately 18.9 billion won based on book value, with the burn scheduled for September 10.The shares to be burned are those that SOOP previously acquired and held. This action will reduce the total number of outstanding shares. However, since the treasury shares were acquired within the range of distributable profits, there will be no change to the company's capital.This treasury share burn is a measure to enhance shareholder value and strengthen the return to shareholders. SOOP's key executives previously expressed their commitment to responsible management by purchasing treasury shares in the market in June and indicated plans to clarify the use of treasury shares by the end of the year during the second-quarter earnings announcement. This burn is part of the strategy presented at that time.SOOP has also announced a policy to distribute more than 25% of its consolidated net profit as cash dividends over the next three years as part of its ongoing shareholder return strategy.The company plans to balance shareholder returns with securing a foundation for future growth while enhancing its core business competitiveness through the activation of the streamer and user ecosystem and the advancement of its service and revenue structure.* This article has been translated by AI. 2026-09-07 09:04:00 -
Test Drive: Mercedes-Benz 'New Arocs' Impresses with Smooth Ride The first experience with the dump truck was unexpected. Contrary to assumptions of a rough ride, the smoothness was striking. The Mercedes-Benz 'New Arocs 4153K Single Reduction Dump,' launched in June, is a new model developed based on the fifth-generation 'New Arocs' introduced in 2021. On September 2, I drove a total of 30 kilometers at the Belfore Resort in Chungbuk, navigating both dedicated roads and unpaved paths over approximately 45 minutes. At 25.5 tons, the New Arocs presented a different experience from entering a typical passenger vehicle. Climbing up three to four steps, which were significantly higher than average adult height, was necessary to get inside. Once seated in the passenger seat, the view was expansive, allowing a clear sight of the roofs of most vehicles. The most impressive aspect from the passenger seat was the smoothness of the ride. While some swaying was inevitable due to the high body, the impact from the road was significantly dampened. The true capabilities of the truck were revealed on unpaved roads. Upon entering a quarry, I encountered various sizes of rocks and uneven surfaces. Although vibrations were felt in the passenger seat as the vehicle traversed bumps, the body remained stable, absorbing shocks effectively. On inclines, there was no sense of power loss or sluggishness. The key feature of this model, the single reduction system, was designed for such driving conditions. By reducing the number of deceleration stages in the power transmission process compared to traditional hub reduction, it minimizes power loss and enhances fuel efficiency. This design balances efficiency and drivability, catering to the domestic driving environment that frequently shifts between construction sites and regular roads. Safety features were also notable. Due to the large size of the dump truck, there are naturally wider blind spots beneath the driver's seat and on the vehicle's sides compared to passenger cars. The New Arocs is equipped with 'Active Brake Assist 6' to help detect and respond to front-end hazards, along with features like 'Active Sideguard Assist 2' and 'Front Guard Assist.' During the drive, digital side mirrors displayed lines indicating the distance to surrounding vehicles. When changing lanes, additional lines showed the gap to adjacent vehicles. Considering the importance of fuel efficiency for dump trucks, the New Arocs features internal digital side mirrors, which reduce wind resistance compared to external mirrors, reportedly improving fuel efficiency by 1.5% to 2%. While it is a dump truck and cannot be expected to match the comfort or driving assistance features of passenger vehicles, the preconceived notion of it being a 'rough and uncomfortable vehicle' was dispelled. Instead, the true competitive advantage of the New Arocs lies in its ability to reduce driver fatigue during long hours of operation while carrying heavy loads. * This article has been translated by AI. 2026-09-07 09:00:20


