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  • Trump post turns up pressure on Seoul to arm Ukraine
    Trump post turns up pressure on Seoul to arm Ukraine SEOUL, September 05 (AJP) -South Korea, already under U.S. pressure to contribute to security operations around the Strait of Hormuz, is facing a second test of its military restraint as President Donald Trump amplified a call for Seoul to provide Ukraine with Korean-made missile interceptors. Trump on Friday shared on Truth Social a Washington Post opinion column titled “How Trump can help Ukraine build its own Patriot missiles,” without adding any comment of his own. The column, by Marc Thiessen, urged Trump to press South Korea to sell Ukraine its M-SAM II, or Cheongung-II, air-defense system as an interim answer to Kyiv's shortage of missile interceptors. Trump's decision to circulate the article does not amount to a formal policy demand. But it drew attention in Seoul because the column explicitly tied Korean military support for Ukraine to another source of friction with Washington: the Lee Jae Myung government's reluctance so far to commit forces to the Strait of Hormuz. Thiessen argued that supplying M-SAM II interceptors to Kyiv could help repair strains with Washington while easing pressure on limited U.S. Patriot inventories. The column also contrasted Seoul's refusal to arm Ukraine with its supply of M-SAM II systems to the United Arab Emirates. South Korea is separately reviewing military and nonmilitary options to support freedom of navigation through the Strait of Hormuz, including possible maritime contributions, but the presidential office says no decision has been made. Any deployment would carry domestic political and legal complications, including questions over National Assembly approval. Ukrainian President Volodymyr Zelenskyy has sought South Korean weapons almost from the beginning of Russia's full-scale invasion. In an April 2022 video address to South Korea's National Assembly, Zelenskyy appealed for aircraft, tanks, armored vehicles, artillery, ammunition and air-defense, anti-tank and anti-ship weapons, arguing that existing rules on arms supplies needed to be reconsidered. The requests have continued as Ukraine's need for air defense has intensified. Last month, Zelenskyy said South Korea and Japan possessed capabilities that could have helped protect Ukraine from ballistic missile attacks but had not supplied them because of their domestic restrictions. He separately appealed to Seoul for urgent air-defense assistance as Russia stepped up missile attacks. Seoul has nevertheless maintained its longstanding policy of providing humanitarian and nonlethal military assistance to Ukraine rather than directly supplying lethal weapons to a country at war. Supplying Korean weapons that could be used against Russian or North Korean forces would potentially move Seoul closer to direct participation in a conflict involving its own heavily armed neighbor. North Korean soldiers are fighting alongside Russian troops in the Kursk region, a deployment acknowledged by Moscow and Pyongyang. Ukrainian intelligence also says a North Korean missile unit has been deployed to Russia's Voronezh region, potentially equipped with ballistic missiles. North Korea has separately supplied Russia with large quantities of artillery ammunition and missiles. An M-SAM II transferred to Ukraine could, in principle, be used to intercept a missile supplied or operated by North Korea. Other Korean weapons could conceivably be employed against North Korean personnel fighting for Russia. Such a scenario would transform what Seoul has treated as support for a distant partner into something much closer to an indirect Korean military confrontation on European soil. Russia and North Korea signed a comprehensive strategic partnership treaty in 2024 providing for military assistance if either side is attacked, while Pyongyang has gained combat experience and potentially access to Russian military technology through the partnership. President Lee, meanwhile, is pursuing renewed dialogue with North Korea and has called for conditions that could enable Washington and Pyongyang to return to negotiations. A decision to arm Ukraine while North Korean forces are involved on Russia's side could complicate that effort. AJP Takeaways: - Trump shares a Washington Post column urging South Korea to supply Ukraine with M-SAM II interceptors. - Zelenskyy has repeatedly appealed to Seoul for weapons and air defenses as Russian missile attacks intensify. - Direct arms transfers remain difficult for Seoul as North Korean troops and missiles are now part of Russia's war effort. 2026-09-05 12:33:32
  • Political Tensions Rise Over Kim Seung-wons Alleged Drug Approval Scandal
    Political Tensions Rise Over Kim Seung-won's Alleged Drug Approval Scandal Political tensions are escalating over allegations that Kim Seung-won, the nominee for Minister of Justice, sought approval for a COVID-19 drug clinical trial. Independent lawmaker Han Dong-hoon released additional recordings of a phone call between Kim and a broker identified as Yang, prompting the ruling People Power Party to demand Kim's withdrawal from consideration. The Democratic Party countered that the ruling party's actions represent a politically motivated attack before the confirmation hearing.On September 5, Han posted on Facebook the recording of a call between Kim and Yang from February 9, 2022, asserting that Kim's previous explanation was a "blatant lie." In the recording, Kim refers to Yang as "brother" and expresses a desire to meet, suggesting a meeting in Yeouido, Seoul. When Kim says, "It’s a shame if we can only see each other for 20 to 30 minutes," Yang responds, "I’m bringing a lot of stuff with me."Han connected this call to a photo of Kim, Yang, and Judge Jeong, claiming that Kim's assertion of a chance meeting is false and demanding clarification on what Yang meant by "stuff." However, the recordings do not confirm the nature of the items or whether they were actually exchanged.Han also disclosed a phone call from October 2021 in which Yang mentioned that Kim had spoken to the head of the Food and Drug Safety Agency regarding the new drug's approval and could also make requests to the Ministry of Health and Welfare. The conversation included references to Kim's political donation limits and Yang's business interests, which Han argued indicated that Kim facilitated the drug trial approval in exchange for benefits to Yang.The People Power Party joined the attack, with floor spokesperson Choi Soo-jin commenting on the allegations of collusion with judges, drunk driving history, and suspicions of slush funds involving the Democratic Party's Gyeonggi Province chapter, calling for President Lee Jae-myung to withdraw Kim's nomination. Choi pointed out that the judge who dismissed the arrest warrant related to the drug case had attended a drinking event with Kim and Yang, raising further collusion concerns. Lawmaker Na Kyung-won highlighted the undue profits for Yang and officials from the drug development company, asserting that the connection to stock manipulation allegations involving Kim must be clarified, although no confirmation of Kim's involvement in stock manipulation has been established by investigative agencies.The Democratic Party rebutted these claims, arguing that the opposition is inflating suspicions based on selective excerpts from the recordings.Democratic Party floor spokesperson Kim Seong-hwa stated in a written briefing that "reaching conclusions before the hearing begins is not verification but a political offensive," criticizing the opposition for releasing only favorable excerpts while concealing unfavorable context. He emphasized that the prosecution, during the Yoon Suk-yeol administration, conducted searches and summoned witnesses but did not indict Kim, asserting that there is no evidence of bribery and that the confirmation hearing should allow for Kim's explanations to be verified based on facts and materials.Kim is under investigation for allegedly relaying a request from Yang in October 2021 to expedite the review of Genensel's COVID-19 treatment clinical trial approval to then-Commissioner Kim Kang-rip of the Food and Drug Safety Agency. The prosecution decided to suspend prosecution against Kim in December 2024.Kim's team maintains that the request was a standard public interest inquiry from a lawmaker and that there was no favoritism or receipt of bribes. It is also reported that the 5 million won donation was never actually delivered.Regarding the collusion allegations with Judge Jeong, Kim's team refuted any claims of contact or requests related to the case and stated that they did not participate in the warrant review process, arguing that the timing of the photo and the warrant review has been misrepresented.As both parties clash over the implications of the recordings and the prosecution's decisions, the relationship between Kim and Yang, the nature of the request, and the alleged collusion with the judge are expected to be central issues in the confirmation hearing.* This article has been translated by AI. 2026-09-05 12:32:00
  • Seoul court upholds record fine on UBS over naked short selling
    Seoul court upholds record fine on UBS over naked short selling SEOUL, September 05 (AJP) -A South Korean court has upheld a 16.94 billion won ($12.2 million) penalty imposed on Credit Suisse for naked short selling, rejecting UBS's argument that shares used as collateral remained under the investment bank's ownership. The Seoul Administrative Court recently ruled against UBS in a lawsuit seeking to overturn the penalty imposed by the Securities and Futures Commission (SFC), according to legal sources Friday. UBS inherited the case after acquiring Credit Suisse. The SFC, which operates under the Financial Services Commission, imposed the penalty in July 2024 after finding that Credit Suisse had sold 60.33 billion won worth of shares it did not own in violation of South Korea's Capital Markets Act. Including penalties imposed on Credit Suisse affiliates, the total reached about 27.1 billion won, the largest since South Korea introduced a penalty surcharge system for naked short selling in 2021. Short selling generally involves borrowing shares and selling them in anticipation of buying them back later at a lower price. Selling shares without first borrowing them, known as naked short selling, is prohibited in South Korea. UBS challenged the regulator's decision, arguing that the shares involved were not ordinary borrowed stock but shares provided as collateral to domestic securities firms. The company maintained that Credit Suisse had retained ownership of the shares and therefore could not be considered to have sold stock it did not possess. UBS also argued that even if the transactions constituted short selling, Credit Suisse could have recovered the shares before settlement through a recall, or a request for early return, meaning the sales should not be treated as naked short positions. The court rejected both arguments. Judges found that the fact that shares were provided as collateral did not automatically mean ownership remained with Credit Suisse. The purpose of providing collateral and the legal ownership of the shares were separate questions, the court said, adding that ownership depended on the contractual terms and legal structure agreed between the parties. The court concluded that ownership had transferred when Credit Suisse provided the shares to domestic securities firms and that selling them before they were returned constituted short selling. It also dismissed UBS's contention that a recall would have ensured the shares were available by settlement. A request for early repayment did not provide a firm guarantee that the shares would actually be returned before the settlement deadline, the court found. UBS separately argued that the size of the penalty lacked sufficient basis and was excessive. The court rejected that claim as well, noting that the original penalty had been calculated at about 33.89 billion won before regulators reduced it by 50 percent. The reduction reflected factors including that the short-selling transactions occurred before UBS's merger with Credit Suisse. The court said the final 16.94 billion won penalty could not be considered excessive relative to the violation. UBS could not be reached for comment. 2026-09-05 12:07:58
  • Chung Eui-sun: HPLS to Enhance Quality and Technology in Steel Production
    Chung Eui-sun: HPLS to Enhance Quality and Technology in Steel Production Chung Eui-sun, chairman of Hyundai Motor Group, announced plans to produce high-quality, high-tech steel materials through the Hyundai Steel-Posco Louisiana Steel (HPLS) project.Speaking to reporters after the groundbreaking ceremony in Donaldsonville, Louisiana, on September 4, Chung emphasized, "If we can research and produce materials with high quality and technology in collaboration with Posco, one of the world's top steel companies, it can be a win-win situation for both parties."Chung explained the rationale behind the partnership with Posco, stating, "We have been collaborating with Posco in various fields, including future steel and next-generation batteries. I am pleased that this project presents a good opportunity for Posco to enter the U.S. market."He also expressed optimism about the integrated process combining direct reduced iron (DRI) and electric arc furnaces. "Using electric arc furnaces allows us to produce low-carbon steel and reduce carbon emissions by about 70%. Applying DRI is a challenge for new technology, and if successful, it can be utilized elsewhere," he said.Chung anticipates that local steel production will not only lower tariff burdens but also enhance vehicle quality. He noted, "While tariffs were not the primary goal, we need to produce low-carbon and high-value-added steel to improve the quality of vehicles produced here. I believe there are benefits for both sides, creating synergy."However, he mentioned that quantifying the specific tariff reduction effects is challenging, stating, "It is difficult to convert it into monetary terms. Since tariffs are constantly changing, we want to focus on producing better products to enhance vehicle quality rather than fixate on tariffs."Regarding the impact on the U.S. steel market, he said, "The U.S. currently imports about 20 million tons of steel. By producing high-value special steel and low-carbon steel here, we can cover 10 million tons of that, which will benefit the U.S. as well."Chung also expressed interest in the potential application of humanoid robots like Atlas in U.S. steel production, stating, "I believe we should definitely apply them. I hope we can supply steel for rockets like SpaceX in the future."* This article has been translated by AI. 2026-09-05 12:04:00
  • Fireworks Light Up Yeouido as Seoul Hosts 2026 World Fireworks Festival
    Fireworks Light Up Yeouido as Seoul Hosts 2026 World Fireworks Festival The 2026 Seoul World Fireworks Festival will illuminate the night sky over Yeouido Hangang Park on September 5. Fireworks teams from South Korea, the United States, and the United Kingdom will present a synchronized display set to music, with an expected turnout of up to 1 million spectators prompting police and city officials to implement safety and traffic measures.This year's festival, hosted by Hanwha Group and SBS with support from Seoul City, is themed 'Finding Your Light.' The event will run from 1 PM to 10 PM, with the main fireworks show scheduled from 8 PM to 9:10 PM.Participating teams include Hanwha from South Korea, along with representatives from the U.S. and U.K. The British team will feature fireworks set to the Netflix animated series 'K-Pop Demon Hunters,' while the American team will use melodies from 'Carmina Burana: O Fortuna.' Hanwha will express the song 'The Wind Blows' by singer Lee Sora through their fireworks display.The festival's pre-event on September 4 attracted an estimated 100,000 attendees to Yeouido and Ichon Hangang Parks, concluding without any safety incidents. However, the main event is expected to draw a significantly larger crowd.Seoul City, police, fire services, and Hanwha Group have established a comprehensive safety headquarters to manage the event. The Seoul Metropolitan Police have elevated the on-site command to the Deputy Chief of Public Safety and will concentrate police resources at key access points and subway stations near Yeouido.In light of recent bomb threat reports targeting urban facilities, anti-terror measures have been intensified. The police special forces will search the area for suspicious objects before the event, and barriers will be erected at critical locations to prevent vehicle incursions.If a bomb threat is reported, a joint analysis response team comprising anti-terror, criminal, and emergency services will assess the risk. If necessary, they will coordinate with event organizers to evacuate spectators and conduct safety checks at suspicious locations.Fireworks will be monitored by local police from the transportation and installation stages through to the event's conclusion. A dedicated safety situation room will be operational on the day of the event.To address potential crime, 12 criminal investigation teams and mobile units will be deployed in crowded areas and blind spots of CCTV coverage. The metropolitan prevention patrol and order maintenance teams will crack down on illegal ticket sales and scalping, while a dedicated investigation team will look into fraudulent ticket purchases using macros.The Han River Police will deploy five patrol boats to restrict vessel access between Mapo Bridge and Hangang Bridge. Patrol cars and motorcycles will be stationed along Olympic Boulevard and Gangbyeonbuk-ro, as well as at Yanghwa, Seogang, Mapo, Hangang, and Dongjak Bridges to prevent illegal parking for fireworks viewing.Traffic around the event site will also be restricted. Vehicle access will be completely blocked on Yeouido Road from the southern end of Mapo Bridge to 63 Building from 3 PM to midnight. Wonhyo Bridge will be closed to both vehicle and pedestrian traffic from 9 AM on September 6 until 3 AM the following day.Subway Line 5's Yeoinaru Station may experience congestion between 7 PM and 10 PM, leading to possible non-stop train passes or station entrance closures. The city urges attendees to use nearby stations such as Yeouido, Mapo, and Saetgang.Subway Lines 5 and 9 will increase service by a total of 83 trains. During peak hours, 26 bus routes passing through Yeouido Transfer Center and Yeouido Station will also see increased service. Detailed traffic information can be found on the Seoul City traffic information portal, TOPIS.* This article has been translated by AI. 2026-09-05 11:48:00
  • Toss Banks Financial Fraud Prevention Program Marks 100 Days
    Toss Bank's Financial Fraud Prevention Program Marks 100 Days Toss Bank's financial fraud prevention program, operated in collaboration with the National Police Agency, has reached its 100-day milestone. On September 5, Toss Bank announced that the "Neighborhood Financial Fraud Prevention Officer" initiative has conducted 163 educational sessions aimed at preventing financial fraud for approximately 2,000 seniors over the past 100 days.The Neighborhood Financial Fraud Prevention Officer program is a public-private partnership designed to protect local residents from financial scams, including voice phishing and investment fraud. The initiative involves 26 retired police officers, each with an average of over 30 years of experience.From June to August, the prevention officers conducted a total of 163 financial fraud prevention training sessions across 42 institutions, primarily targeting seniors aged 50 and older, with around 2,000 participants.Patrols were focused on 14 areas in Seoul that have reported high instances of telecommunications financial fraud. The prevention officers, working in pairs, inspected ATMs, storage lockers, and areas around motels, checking for illegal QR codes attached to unattended devices.Since its launch, the program has recorded 325 patrols and 447 hours of activity, distributing 1,730 promotional materials on fraud prevention. When converted to walking distance at an average adult pace of about 4 km per hour, this amounts to approximately 1,788 km.A Toss Bank representative stated, "We will continue our community-based prevention activities in collaboration with the National Police Agency." Additionally, Toss Bank operates a financial transaction monitoring system (FDS) and a fraud alert system. Through its "Safe Compensation System," the bank compensated a total of 1,466 individuals with 1.916 billion won last year for losses incurred from voice phishing.* This article has been translated by AI. 2026-09-05 11:00:20
  • iM Financial Hosts 2026 Pium Lab 8th IR Day, Connecting 14 Startups with Investors
    iM Financial Hosts 2026 Pium Lab 8th IR Day, Connecting 14 Startups with Investors iM Financial Group announced the hosting of the '2026 Pium Lab 8th IR Day' at the iM Financial Center in Jung-gu, Seoul, aimed at supporting investment attraction for companies in its fintech incubation program. Fourteen startups from the 8th Pium Lab participated in the event, presenting their business models and growth strategies. Representatives from seven investment firms, including iM Investment Partners, Korea Investment Partners, and CNT Tech, served as judges. The participating companies showcased financial and fintech-related services, including AI asset and real estate tax simulations, a gold trading platform, card payment for monthly rent, advance salary payments for overseas workers, AI translation, fractional investment, peer-to-peer currency exchange, and AI OCR-based document review automation. In the latter part of the event, one-on-one roundtable meetings were held, connecting investors and startups based on prior demand surveys. This provided a platform for discussing investment attraction and potential collaboration. The 8th Pium Lab selected 14 companies following a recruitment process in March. Currently, it supports these companies through two divisions: incubator and open innovation, offering office space, collaboration with group affiliates, corporate diagnostics, mentoring, and IR clinics. Hwang Byeong-woo, Chairman of iM Financial Group, stated, "We will continue to create opportunities for collaboration support and investment connections so that startups and iM can grow together."* This article has been translated by AI. 2026-09-05 10:00:20
  • Muan Airport Emerges as Key Link in $800 Billion Semiconductor Initiative
    Muan Airport Emerges as Key Link in $800 Billion Semiconductor Initiative The South Korean government has identified semiconductors as a key regional industry to revitalize Muan International Airport. Plans are underway to develop the Gwangju military airport site into a semiconductor production base, while Muan's national industrial complex and airport will focus on supplying materials, parts, and equipment, as well as export and logistics, forming a semiconductor cluster in the Honam region.On September 5, officials from the government and Gwangju Metropolitan City announced that the government had proposed 'Muan (semiconductors)' as a case of specialized development linked to regional industries in its public institution reform plan released on September 3.The government has decided to postpone the integration of Incheon International Airport Corporation and Korea Airports Corporation, opting to implement measures to revitalize regional airports first. Depending on the progress, the integration will be reconsidered. A proposed airport strategy council, involving the Ministry of Land, Infrastructure and Transport and the two airport corporations, aims to develop specialized strategies and improve financial structures for each airport.Plans are also being considered to expand routes connecting Incheon Airport with regional airports and to increase direct international flights departing from these airports. The intention is to broaden Muan Airport's focus from passenger services to industrial and logistics functions, aligning with the semiconductor industry's needs.This initiative aligns with the $800 billion semiconductor cluster project announced by the government and major companies like Samsung Electronics and SK Hynix at the end of June. The government has identified the Gwangju military airport site, covering 2.5 million square meters, as a candidate for a national semiconductor industrial complex.Procedures for relocating the military airport are also in progress. The Ministry of National Defense's site selection committee designated the area in Muan as a candidate for the Gwangju military airport relocation on August 28. Gwangju City plans to initiate three projects, totaling 26 billion won, for basic planning, strategic environmental assessments, and construction project management by November.However, Muan has not yet been confirmed as the final relocation site. A public hearing, a resident vote, and Muan's application for the relocation will determine the final site by the end of this year.The development of the Muan national industrial complex is also gaining momentum with a focus on regional roles. The Ministry of Land, Infrastructure and Transport designated 1.05 million square meters in Hyeonggyeong-myeon, Muan, as a candidate for the national industrial complex on August 25. Initially, Muan aimed to establish a specialized complex for distributed energy based on 100% renewable energy (RE100), but with the semiconductor cluster project gaining traction, plans are being discussed to add semiconductor materials and parts production and supply functions.If semiconductor production facilities are established at the Gwangju military airport site, the Muan national industrial complex will supply related materials, parts, and equipment, while Muan Airport will support export and logistics. With the second phase of the Honam High-Speed Railway project, which includes Muan Airport Station, there are expectations for an industrial network connecting Gwangju's production base with Muan's materials and logistics hubs.Efforts to secure the necessary infrastructure and workforce for the cluster are also underway. Gwangju City is developing a water reuse management plan to supply 300,000 tons of treated wastewater daily to the semiconductor industrial complex. The total project cost is estimated at 720 billion won, with budget allocations for buffer storage and supply facilities included in the 2027 government budget proposal.Local universities and the Gwangju Metropolitan City Education Office plan to train over 23,000 workers tailored for the semiconductor industry. The goal is to create an ecosystem that connects schools, universities, and businesses, enabling locally educated talent to secure employment and settle in the area.Gwangju City intends to leverage the semiconductor linkage plan for Muan Airport as part of its strategy to attract the Korea Airports Corporation. The city aims to develop Muan Airport into a regional hub by linking the relocation of the Gwangju military airport with the establishment of the Honam semiconductor cluster. The Korea Airports Corporation is among the ten priority public institutions identified for relocation by the city.However, the government has not yet confirmed the primary industry for the Muan national industrial complex as semiconductors, nor has it decided on any specific semiconductor support projects for Muan Airport. The mention of 'Muan (semiconductors)' in government documents serves as an example of policies linking regional airports with local industries. The relocation of the Korea Airports Corporation remains a proposal from Gwangju City, with no official government decision made.A Gwangju City official stated, "The mention of 'Muan (semiconductors)' in government documents indicates an intention to connect the regional semiconductor industry with airport revitalization. The specific functions and industries for the Muan national industrial complex will be determined during the planning process for its establishment."* This article has been translated by AI. 2026-09-05 09:56:00
  • U.S. firms pledge $2 billion investment in Korea across chips and energy
    U.S. firms pledge $2 billion investment in Korea across chips and energy SEOUL, September 05 (AJP) - Four U.S. companies have pledged a combined $2 billion investment in South Korea spanning semiconductors, advanced display materials and offshore wind, the Ministry of Trade, Industry and Resources said. The commitments were announced in Washington, D.C., on Thursday as Seoul seeks to deepen investment and supply-chain ties with the United States amid heightened uncertainty over global trade and industrial policy. The participating companies are industrial gas supplier Air Products, semiconductor equipment maker Axcelis Technologies, glass and advanced materials producer Corning and renewable-energy developer Pacifico Energy. Air Products will expand semiconductor gas supply facilities in Pyeongtaek, Gyeonggi Province, one of South Korea's largest chipmaking hubs. The additional capacity is expected to support semiconductor manufacturing as Korean chipmakers continue to expand advanced production lines. Axcelis will increase its manufacturing capacity for ion implantation equipment in South Korea. The U.S. company has been producing ion implanters in the country since 2021. Ion implantation is a key semiconductor manufacturing process used to introduce controlled amounts of impurities into silicon wafers to alter their electrical properties. Corning plans to strengthen its manufacturing capabilities and continue expanding its Korean operations, according to the ministry. The company has invested in South Korea since 1973 and has built a longstanding presence supplying materials used in the country's display and technology industries. Pacifico Energy, meanwhile, plans to push ahead with a 3.2-gigawatt offshore wind power project in the Jeonnam-Gwangju region. The project represents the renewable-energy portion of the investment package and would add significant generation capacity if completed as planned. The ministry did not disclose how the combined $2 billion investment would be divided among the four companies. Seoul described the commitments as evidence that bilateral investment remains resilient despite an increasingly uncertain economic and trade environment. The projects are also expected to strengthen Korea-U.S. cooperation in advanced industrial supply chains, particularly in semiconductors and other strategic industries. The latest commitments add to a broader two-way investment push between the allies, with Korean companies expanding manufacturing capacity in the United States while U.S. businesses continue to invest in Korea's technology and energy sectors. AJP Takeaways: - Air Products, Axcelis, Corning and Pacifico Energy plan a combined $2 billion investment in South Korea. - Projects span semiconductor gases and equipment, advanced display materials and a 3.2-gigawatt offshore wind development. 2026-09-05 09:17:50
  • Samsung Electronics Union Plans Long-Term Protest Outside CEOs Home
    Samsung Electronics Union Plans Long-Term Protest Outside CEO's Home The Device Experience (DX) division of Samsung Electronics, represented by the union Donghaeng, plans to hold a protest outside the home of CEO Lee Jae-yong, demanding the resolution of compensation disparities.The union will hold an inaugural ceremony on the 18th and intends to continue protests and individual demonstrations near Lee's residence in Yongsan, Seoul.According to Yonhap News, a union representative stated, "We do not have a set end date for the protest and plan to conduct it long-term. On days when we cannot file for a protest, we will continue with individual demonstrations."The union claims that during the wage negotiations agreed upon in May, the DX division was marginalized, and the compensation gap with the Device Solutions (DS) division, which oversees semiconductors, is excessive.They are demanding: 1,000 shares of company stock per employee in the DX division, the establishment and distribution of a common fund based on a certain percentage of overall performance, and uniform application of base salary increases across the company.On August 21, they also held a protest near Samsung's Seocho office in Gangnam, arguing that the decline in profitability is due to management failures and requesting communication with executives regarding the demands of DX employees.In the business community, there are criticisms that the demand for 1,000 shares per employee in the financially struggling DX division is unreasonable. There are also concerns about the lack of justification for collective action, given that wage negotiations had previously been settled through government mediation.* This article has been translated by AI. 2026-09-05 09:16:00