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  • GC Green Cross Receives IND Approval for High-Immunogenic Flu Vaccine for Seniors
    GC Green Cross Receives IND Approval for High-Immunogenic Flu Vaccine for Seniors As the aging population grows rapidly, the importance of flu prevention strategies tailored for older adults is increasing. GC Green Cross has received approval from the Ministry of Food and Drug Safety for the clinical trial plan (IND) of its high-immunogenic flu vaccine, 'GC3114B,' designed for seniors.According to GC Green Cross, the Phase 2/3 clinical trial will evaluate the immunogenicity and safety of GC3114B in individuals aged 65 and older through a direct comparison with an active control group. The company plans to begin dosing the first patients in the Phase 2 trial in the second half of this year, with the Phase 3 trial to be conducted as a multinational study.The high-immunogenic flu vaccine is designed to enhance immune responses in older adults, who typically have a weaker immune response compared to younger populations. This can be achieved through higher antigen content or by using adjuvants to boost the immune response.Globally, the use of high-immunogenic flu vaccines is expanding. The Advisory Committee on Immunization Practices (ACIP) under the Centers for Disease Control and Prevention (CDC) in the United States recommends administering high-immunogenic vaccines to individuals aged 65 and older before standard-dose vaccines.In South Korea, as the country enters a super-aged society, the need for differentiated flu prevention options for older adults is growing. Recently, the Korea Disease Control and Prevention Agency has been reviewing the introduction of high-immunogenic flu vaccines into the National Immunization Program (NIP).In line with this, GC Green Cross aims to enter the NIP market, establishing a foundation for self-sufficiency in high-immunogenic flu vaccines, which are currently reliant on imports, while also pursuing global market expansion.Lee Jae-woo, head of the development division at GC Green Cross, stated, "As the aging population grows rapidly, the importance of flu prevention strategies tailored for older adults is increasing. Based on our long-standing research and development and production capabilities, we will expand our portfolio to include high-immunogenic flu vaccines, thereby enhancing our business competitiveness."Meanwhile, analysts estimate that GC Green Cross will achieve consolidated sales of 1.98 trillion won and an operating profit of 77.1 billion won this year, aligning with the company's annual sales and operating profit guidance. Next year, significant growth in revenue and profitability is expected. According to iM Securities, consolidated sales are projected to reach 2.13 trillion won, a 7.8% increase from this year's estimate, while operating profit is expected to rise by 60.7% to 123.9 billion won.* This article has been translated by AI. 2026-09-04 09:56:00
  • Government Allows KOSDAQ Companies Facing Delisting to Move to KONEX
    Government Allows KOSDAQ Companies Facing Delisting to Move to KONEX The government will allow companies facing delisting from the KOSDAQ due to insufficient market capitalization to transfer to the KONEX market. If they meet certain financial requirements, they can make the transfer without undergoing a liquidation process. Additionally, the planned increase in the market cap threshold for delisting, originally set for January next year, will be postponed by six months. The same measures will apply to the KOSPI market. On September 4, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol chaired a joint market situation review meeting at the Korea Federation of Banks, where the government decided to implement these reforms to the delisting system. The government and the Korea Exchange have been pursuing reforms to ensure the swift and strict exit of underperforming companies. However, recent feedback from the business community indicated a need for adjustments in light of the deteriorating KOSDAQ market conditions. Eligible companies for the KONEX transfer are those designated as management items due to insufficient market capitalization since July 1, provided they meet specific financial criteria. Companies wishing to transfer must apply to the exchange. The financial requirements stipulate that a company must have recorded operating profits for two out of the last three years, or have made a profit in one of the last three years with equity exceeding 20 billion won. Companies that are insolvent are excluded from this provision. Qualified companies will be able to transfer to the KONEX without undergoing liquidation, maintaining their existing price. To facilitate a swift transfer, the requirement to appoint a designated advisor, such as a securities firm, will also be temporarily waived. Companies facing delisting whose deadlines arrive between the announcement of the regulatory changes and the implementation of the revised rules will also be allowed to apply for the transfer if they meet the criteria. The same financial requirements will be applied to KOSPI companies wishing to transfer to KONEX. The timeline for strengthening the delisting market cap criteria will also be adjusted. The KOSDAQ was set to raise its market cap threshold from the current 20 billion won to 30 billion won starting January 1, but this will now be postponed until July next year, reflecting the need for a recovery period in the market. Similarly, the KOSPI will delay its increase in the market cap threshold from 30 billion won to 50 billion won from January to July next year. The government explained that this decision considers similar requests from KOSPI companies and aims to ensure fairness with KOSDAQ firms. During the meeting, participants also reviewed trends in domestic and international financial and foreign exchange markets, as well as the real estate market. They noted that the increase in government bond issuance and corporate bond issuance by global AI companies, combined with expectations of interest rate hikes in major economies and rising oil prices due to renewed tensions in the Middle East, are contributing to sustained upward pressure on interest rates. The government and relevant agencies will closely monitor trends in the domestic bond market and manage to prevent excessive market volatility. The impact of rising interest rates on vulnerable borrowers and the soundness of the mutual finance sector have been assessed as generally stable so far. However, they warned that significant future interest rate increases could exacerbate difficulties and committed to implementing the support measures for vulnerable borrowers announced on August 28 without delay.* This article has been translated by AI. 2026-09-04 09:56:00
  • Goldman Sachs Predicts Yuan Appreciation to 5.5 per Dollar by 2031
    Goldman Sachs Predicts Yuan Appreciation to 5.5 per Dollar by 2031 Goldman Sachs has projected that the yuan, currently valued at 6.78 per dollar, will appreciate by 3% to 5% annually, reaching 6.0 yuan by the end of 2028 and 5.5 yuan by the end of 2031. This would represent an overall increase of approximately 22.2% over the next five years.This year, the yuan has risen about 4% against the dollar. Goldman Sachs attributes this trend not to a temporary phenomenon but to structural changes in the Chinese economy and aligned policy directions.The primary basis for this assessment is Goldman Sachs' own evaluation of the yuan's exchange rate. Using its proprietary model, GSDEER, the firm estimates the fair value of various currencies based on economic fundamentals such as productivity and trade conditions. At the end of last year, Goldman Sachs estimated the fair value of the yuan to be around 5 yuan per dollar.The second reason for Goldman Sachs' bullish outlook on the yuan is China's strong export competitiveness. The firm anticipates that Chinese exports will continue to grow by 5% to 6% annually. With sustained manufacturing competitiveness and a significant current account surplus, upward pressure on the yuan is expected in the foreign exchange market. Goldman Sachs believes that even with a stronger yuan, China's manufacturing competitiveness will remain intact. This year, while the yuan has appreciated, China's trade surplus is projected to reach a record high of $1.2 trillion.Political considerations from the Chinese government also favor yuan appreciation. A stronger yuan could help alleviate criticisms from the U.S. and Europe that China is manipulating its currency to boost exports, potentially reducing trade tensions. Goldman Sachs predicts that Chinese authorities will opt for a 'managed appreciation' rather than a rapid increase.From the perspective of yuan internationalization, a stronger yuan is advantageous. If expectations for long-term yuan strength develop, it could enhance the appeal of investments in China for foreign investors. Even with low interest rates in China, expectations of yuan appreciation could offset some of these concerns. However, the sluggish domestic economy and low interest rates pose risks of capital outflows, which could hinder yuan strength.Meanwhile, on September 3, the People's Bank of China set the yuan's daily reference rate at 6.7807 per dollar, a decrease of 0.0022 yuan from the previous day, reflecting a 0.03% increase in yuan value.* This article has been translated by AI. 2026-09-04 09:48:00
  • Canadas Prime Minister Carney Says Negotiations Possible When U.S. Is Ready
    Canada's Prime Minister Carney Says Negotiations Possible When U.S. Is Ready Mark Carney, Canada's Prime Minister, stated that Canada is ready to engage in trade negotiations whenever the United States is prepared, countering claims from the Trump administration that Canada was responsible for the breakdown of talks last month. As both countries exchange tariffs and retaliatory duties, tensions are escalating with each side blaming the other for the failed negotiations.On September 3, during a press conference in Thunder Bay, Ontario, Carney emphasized, "We will always defend what is best for Canada's national interest," adding that an agreement beneficial to Canadian workers, families, and businesses would also benefit American households, companies, and consumers. He noted, "We are ready to sit down and negotiate when Americans are ready." However, Carney stressed that Canada would not agree to terms that could harm its automotive, steel, and aluminum industries.Carney's remarks were a direct response to assertions made by senior officials in the Trump administration, who claimed on August 21 that the failure of U.S.-Canada trade negotiations was due to Canada. U.S. Secretary of Commerce Howard Lutnick mentioned in a CNBC interview that Canadian trade representatives began introducing "strange ideas" on the final day of negotiations, questioning, "What are you doing?" He also asked one of the Canadian ministers, "Do you really want to blow this negotiation?"Following the breakdown of talks, President Trump imposed a 50% tariff on $20 billion worth of Canadian goods starting August 22. In retaliation, Canada announced a similar 50% tariff on $20 billion worth of U.S. products on the same day. Trump then threatened to impose a 50% tariff on Canadian automobiles, auto parts, and steel starting in January.Additionally, Trump has continued his antagonistic actions against Canada, signing an executive order to rename Lake Ontario, which lies between Ontario and New York, to Lake America. Following Carney's comments, Trump took to social media platform Truth Social, stating, "It is very good for Canadian politicians like Prime Minister Carney to make Donald Trump their 'enemy.' Then their economy will collapse, and they will see how badly it affects their politics. It will be worse for that Canadian politician than anything that has happened so far."Americans Favor Trade Negotiations with CanadaDespite the ongoing tensions, a significant portion of the American public believes that trade negotiations with Canada are necessary. With the midterm elections approaching, there is increasing pressure on President Trump to consider resuming trade talks with Canada. Imposing or increasing tariffs on Canada, a key trading partner, could lead to rising prices in the U.S., further deteriorating public sentiment.A recent Reuters/Ipsos poll released on September 1 indicated that about 70% of Americans believe the U.S. should show a willingness to reach an agreement with Canada, even if many of the U.S. demands are not met. Additionally, an Economist/YouGov poll released on September 2 found that nearly 60% of Americans opposed increasing tariffs on Canadian products.Kevin Chen, a researcher at the S. Rajaratnam School of International Studies in Singapore, commented to CNA that Canada is looking for opportunities to convert economic pain into significant political pressure on Trump. With the U.S. midterms just weeks away, Canada is targeting politically important states for its retaliatory measures. 2026-09-04 09:48:00
  • Chinese Instructor Charged with Murdering Student and Disposing of Body
    Chinese Instructor Charged with Murdering Student and Disposing of Body The Gyeongsan Police Department has detained a 31-year-old Chinese instructor, Jeong Chang-seong, on charges of murdering a Chinese student and disposing of her body across various locations in the country.Jeong is accused of strangling a female student, identified as A, in his studio apartment on the morning of August 20, and subsequently dismembering her body, which he then disposed of in five different regions, including Gyeonggi and Gyeongsangbuk-do. He was arrested on August 25 and faces five charges, including murder, body mutilation, kidnapping, concealment, and obstruction of justice.According to reports from Yonhap News, Jeong misled police by filing a false report and using the victim's phone to misdirect the investigation. During police questioning, it was revealed that he killed the victim out of fear that she would inform the school about their relationship during a heated argument.On September 1, Jeong's personal information was made public following a review by the police's information disclosure committee, which stated that the brutality of the crime and the severity of the victim's suffering warranted the disclosure for public safety and crime prevention.A police official stated, “We will continue the search for the victim's remains, even after transferring the suspect to the prosecution.”Meanwhile, a psychopathy assessment conducted by police over the weekend indicated that Jeong scored below 25 points, which does not meet the criteria for classification as a psychopath. In South Korea, a score of 25 or higher out of 40 is required for such classification. Given the gruesome nature of the body disposal, police have engaged profilers to further investigate his antisocial tendencies.* This article has been translated by AI. 2026-09-04 09:44:00
  • Sky Labs Surges 23% on First Day of KOSDAQ Listing
    Sky Labs Surges 23% on First Day of KOSDAQ Listing Medical device manufacturer Sky Labs saw its stock rise over 23% on its first day of trading on the KOSDAQ, exceeding its initial public offering (IPO) price.According to the Korea Exchange, as of 9:34 a.m. on September 4, Sky Labs was trading at 12,310 won, up 2,310 won (23.10%) from its IPO price of 10,000 won.Sky Labs debuted on the KOSDAQ today, with its opening price set at 8,500 won, 15% lower than the IPO price. The stock initially dipped to 8,200 won but quickly reversed course and began to climb.Prior to the listing, Sky Labs recorded a competitive ratio of 63.41 to 1 in demand forecasting for institutional investors. However, the subscription rate for general investors was only about 2.9 to 1, and the final IPO price was set at 10,000 won, below the lower end of the expected range of 13,000 to 16,000 won. The proportion of institutional investors with a commitment to hold their shares was also low, at just 0.17% by quantity.The rise in stock price on the first day is attributed to expectations surrounding Sky Labs' medical data platform business and its expansion into international markets.Founded in 2015, Sky Labs specializes in manufacturing medical devices, with its primary product being a cuffless continuous blood pressure monitoring device.The company's flagship product, the CART BP pro, is designed to measure blood pressure changes continuously for 24 hours during daily activities and sleep. Sky Labs plans to utilize the continuous blood pressure and multi-vital data collected through this device for clinical trials, real-world evidence, remote monitoring, and medical AI, using its proprietary artificial intelligence algorithms.Sky Labs is also looking to expand its international business. In the first half of this year, the company generated approximately 2.6 billion won of its total revenue of 5 billion won from overseas sales. In the United States, it is preparing for local clinical trials with the goal of obtaining Food and Drug Administration (FDA) approval by the end of 2027.However, improving financial performance remains a challenge. Last year, Sky Labs reported total revenue of 7.936 billion won, with an operating loss of 14.725 billion won and a net loss of 62.995 billion won. Korea Investment & Securities served as the underwriter for the IPO.* This article has been translated by AI. 2026-09-04 09:44:00
  • Hyundai Marine & Fire Insurance to Hire New Graduates for Seven Positions
    Hyundai Marine & Fire Insurance to Hire New Graduates for Seven Positions Hyundai Marine & Fire Insurance is hiring new graduates for seven positions, including digital and data analysis, asset management, and actuarial science. The company announced on September 4 that it will begin recruiting new graduates for 2026. Applications will be accepted from today until 6 p.m. on September 21 through the recruitment website. The available positions are: △Digital & Data Analysis △Information Technology (IT) & Information Security △Actuarial Science & Mathematics △Asset Management △Corporate Insurance △Branch Sales Management △Claims Adjustment. Candidates must hold a bachelor's degree or be expected to graduate by February 2027. The recruitment process will consist of document screening, a first interview, and a final interview, with successful candidates expected to start on January 1, 2027. Hyundai Marine & Fire Insurance will also hold online recruitment counseling sessions to help applicants understand the roles better. These sessions will take place on September 11 and 16, starting at 10 a.m., where current employees and recruitment officials will answer questions from applicants. No prior registration is required to participate. A company representative stated, "We are striving to discover talented individuals with a customer-oriented mindset and a sense of responsibility, and we hope to attract many candidates who will help shape Hyundai Marine & Fire Insurance's new future."* This article has been translated by AI. 2026-09-04 09:44:00
  • Chip stocks rebound to support KOSPI
    Chip stocks rebound to support KOSPI SEOUL, September 04 (AJP) -Seoul stocks opened sharply higher Friday as Samsung Electronics and SK hynix pulled out of a two-session slide after remarks from a U.S. Federal Reserve governor cut market-implied odds of an American rate hike this month to roughly a coin flip. The KOSPI, the benchmark index of the Korea Exchange, rose 90.59 points, or 1.4 percent, to 6,670.07 in early trade, while the KOSDAQ, the secondary board for smaller and technology-heavy companies, gained 2.3 percent to 808.31. Breadth was overwhelmingly positive, with 608 stocks advancing against 207 decliners. Foreign investors bought a net 112.1 billion won ($82.6 million), while institutions purchased a net 206.7 billion won. Individual investors sold a net 367.0 billion won. The upside came from Washington. Federal Reserve Governor Christopher Waller said he would be inclined to support holding rates steady if incoming inflation data brought no surprises, pushing down expectations for a rate increase at the Fed's Sept. 15-16 meeting. The probability of a September hike implied by futures fell to 50.4 percent from 63.2 percent a day earlier. Wall Street rallied on the shift. The Dow Jones Industrial Average closed 624.16 points, or 1.18 percent, higher, while the Nasdaq Composite gained 366.23 points, or 1.4 percent. Samsung Electronics rose 1.7 percent to 254,250 won. SK hynix, the leading supplier of high-bandwidth memory for the artificial intelligence server market, gained 2.4 percent to 1,634,000 won. SK Square, SK hynix's largest shareholder, added 1.1 percent to 992,000 won. Oil-sensitive trades also stood out. Refiners climbed as a war premium remained embedded in crude prices amid renewed U.S.-Iran hostilities. S-Oil surged 9.3 percent and GS Holdings gained 5.5 percent. Brent crude has traded around $95 a barrel this week. Airlines were the strongest sector on the main board, gaining 5.2 percent. Hanjin KAL, the holding company of Korean Air, jumped 7.8 percent. Among major decliners, Samsung C&T, the group's construction and trading arm, fell 4.6 percent to 355,000 won. Hyundai Motor rose 1.5 percent to 389,250 won, while Hanwha Aerospace gained 1.3 percent to 1,061,000 won. Elsewhere in Asia, Japan's Nikkei 225 was up 0.2 percent at 64,343.88. The won strengthened against the U.S. dollar, with Hana Bank quoting the currency at 1,356.70 won per dollar, up 1.80 won from the previous close. AJP Takeaways: º KOSPI rises 1.4% as Samsung Electronics and SK hynix rebound from two-session declines. º Fed Governor Christopher Waller's remarks cut September rate-hike odds to roughly 50%. º Foreign and institutional investors turn buyers; refiners and airlines lead broader gains. 2026-09-04 09:41:57
  • National Heritage Agencys 2027 Budget Set at 1.66 Trillion Won to Boost Tourism and Local Revitalization
    National Heritage Agency's 2027 Budget Set at 1.66 Trillion Won to Boost Tourism and Local Revitalization The National Heritage Agency has proposed a budget of 1.66 trillion won for 2027, an increase of 11.2% from the previous year. The budget aims to enhance investments in the preservation and safety management of national heritage while expanding tourism, local revitalization, and international exchanges utilizing these assets.According to the National Heritage Agency, the largest allocation of 691 billion won is designated for the restoration and maintenance of national heritage. Following this, 147.2 billion won is earmarked for the preservation and utilization of palaces and royal tombs, 131.2 billion won for the use of national heritage, 126.6 billion won for education, research, and exhibitions, 100.2 billion won for disaster response related to national heritage, and 62.7 billion won for world heritage and international exchanges.A notable new initiative is the 'Cultural Heritage Stay' program, which will invest 6.1 billion won to allow visitors to experience cultural heritage by staying in designated traditional houses. The plan includes upgrading accommodation facilities at ten designated houses and establishing a unified brand and service standards. Additionally, content will be developed to connect these stays with surrounding national heritage sites, aiming to create high-quality tourism destinations.The agency will also allocate 1.5 billion won for the 'Cultural Heritage Rest Project,' which aims to utilize historical sites and natural environments as relaxation spaces for the public. This project will create leisure areas in five locations across the country that integrate national heritage with nature.Other budget allocations include 1 billion won for the regeneration of heritage-based attractions, 1.7 billion won for promoting the 'K-Cultural Tourism Brand' utilizing historic trails, and 1 billion won for revitalizing traditional folk villages. An additional 1 billion won will be invested in establishing an intelligent disaster response system for national heritage using physical AI and robotics.The budget for the preservation and safety management of national heritage has also seen significant increases. The restoration budget has risen to 520.1 billion won, an increase of 84.8 billion won from the previous year. The budget for building preservation foundations has increased by 35.1 billion won to 170.9 billion won, and disaster safety management has risen by 3.7 billion won to 35.3 billion won. The budget for the establishment of a representative product hall at Gyeongbokgung Palace has been increased by 10.2 billion won to 11 billion won.Efforts will also be made to strengthen support for the relatively underfunded areas of natural and intangible heritage. This includes 3.3 billion won for the construction of the National Natural Heritage Center, 16 billion won for a branch of the National Intangible Heritage Center, and 16.6 billion won for the establishment of a Children's Intangible Heritage Center.Projects aimed at expanding access to national heritage opportunities, which are currently concentrated in the metropolitan area, will also be pursued. This includes 9.9 billion won for a national heritage visitation campaign, 20 billion won for the maintenance of historical and cultural zones, and 8.2 billion won for the development of historic cities. Additional funding includes 1.5 billion won for regional exhibitions of royal heritage and 7 billion won for national heritage education for socially vulnerable groups.International projects aimed at utilizing national heritage as a national brand resource will also be expanded, with 10.1 billion won allocated for the establishment of a UNESCO World Heritage International Interpretation Center and 9.1 billion won for cultural heritage development cooperation (ODA).The budget proposal will undergo review and approval by the National Assembly before being finalized. 2026-09-04 09:40:00
  • President Lee Invites Civil Society Representatives to Discuss Human Rights and Environment
    President Lee Invites Civil Society Representatives to Discuss Human Rights and Environment President Lee Jae-myung invited representatives from civil society to the Blue House on September 4 to gather their opinions on pressing issues related to human rights, the environment, agriculture and fisheries, peace, and historical matters. According to the Blue House, President Lee will preside over a meeting with civil society representatives this morning. The gathering aims to listen to the voices of civil society as the government enters its second year in office and to incorporate their feedback into policy-making. During the meeting, President Lee is expected to hear about the challenges faced by activists in various fields and their policy recommendations. Attendees from civil society include Lee Seung-hoon, chair of the Civil Society Organizations Coalition, and Joo Se-jun, policy chair of the Korean Progressive Alliance. The Blue House noted that the participants are primarily frontline practitioners rather than representatives or senior figures from their organizations.The meeting will also include the Chief of the Listening Integration Office and the Secretary for National Listening. Previously, in July of last year, President Lee met with civil society elders, including Father Ham Se-woong and Professor Emeritus Baek Nak-cheong of Seoul National University, to seek their advice on national unity, inter-Korean relations, and cultural policies. This upcoming meeting is interpreted as a shift towards direct communication with frontline practitioners.* This article has been translated by AI. 2026-09-04 09:36:00