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  • Labor Unions Oppose Government Plan to Merge Four Port Authorities
    Labor Unions Oppose Government Plan to Merge Four Port Authorities Labor unions representing the Busan, Incheon, Ulsan, and Yeosu-Gwangyang port authorities have voiced strong opposition to the government's plan to merge the four entities. They argue that the distinct functions and industrial bases of each port could lead to delayed decision-making and diminished autonomy for regional ports.On September 3, the unions issued a joint statement opposing the government's announcement of the merger during a public institution reform meeting chaired by the Prime Minister.The unions contend that the government's rationale for the merger—strengthening inter-port connections, responding to global logistics changes, enhancing customer-focused services, and achieving cost savings through the integration of common functions—does not adequately justify the physical consolidation.They emphasized that each port has unique roles and industrial foundations. For instance, Busan Port serves as a global hub focused on containers and transshipment, while Incheon Port handles logistics for the capital region and trade with China. Ulsan Port specializes in energy and liquid cargo, and Yeosu-Gwangyang Port is linked to the petrochemical and steel industries.The unions pointed out that merging these distinct organizations would not automatically enhance inter-port connections. Instead, they warned that the process of aligning investment priorities and interests could complicate decision-making.Regarding the government's argument for improved customer-focused services, the unions raised concerns that major stakeholders, such as shipping companies, cargo owners, terminal operators, and logistics firms, require services tailored to the specific characteristics of each regional port.Currently, the port authorities make decisions on investments, incentives, route acquisitions, and policies based on the needs of shipping companies and logistics firms. However, the unions argue that post-merger, key decisions would need to pass through a central organization, potentially slowing regional responses.The unions also called for an objective analysis of the claimed cost savings. They noted that if there are common functions among the four port authorities, efficiencies could be achieved through joint purchasing, system integration, and shared operations. However, they argue that merging the entities solely based on the existence of common functions is a separate issue.They referenced past evaluations of port authority mergers, including a 2011 study by the Ministry of Oceans and Fisheries, which indicated that the cost-saving benefits of physical consolidation were limited. Concerns were raised about decreased operational efficiency and weakened port competitiveness due to the complexities of a larger decision-making structure.The unions demanded that if the government proceeds with the merger, it must provide specific details on overlapping functions, current costs, and anticipated savings post-merger. They also called for a cost-benefit analysis that includes transition costs related to organizational restructuring, personnel, compensation systems, and information system integration.Furthermore, they highlighted that the port authority system was established to ensure the expertise and autonomy necessary for each regional port's characteristics. They warned that merging the four authorities would reinforce a centralized decision-making structure, undermining the original intent of the system.The unions argued that the government's recent examples of public institution mergers, such as the integration of Korail and SRT, are not comparable. They noted that Korail and SRT operate within the same railway network, while the four port authorities are based in different regions and industries.In conclusion, the unions called for the immediate withdrawal of the merger plan, the disclosure of objective evidence, and social discussions. They stated that if the merger is enforced, they would collaborate with higher-level organizations, the port and logistics industry, and local communities to respond, including engaging in the legislative process for related law amendments.* This article has been translated by AI. 2026-09-03 18:36:00
  • Gangnam Housing Market May Rebound Next Year Amid Supply Shortages
    Gangnam Housing Market May Rebound Next Year Amid Supply Shortages The Gangnam housing market may return to an upward trend next year after a short-term adjustment, according to analysts. This comes amid ongoing population concentration in the metropolitan area and persistent supply shortages, which could exacerbate regional polarization in the housing market.Short-term adjustment in Gangnam; potential rebound in March 2027On September 3, the Korea Housing Association held a seminar at the Construction Hall in Gangnam, focusing on 'Real Estate Outlook and Trend Analysis, Future Strategies for Construction Companies.'During the event, Ko Jong-wan, head of the Korea Asset Management Institute, discussed market forecasts and strategies for construction companies in his presentation titled 'Real Estate Market Outlook and Housing Business Strategies.'He stated, "The current Gangnam housing market has entered a short-term adjustment phase due to tax and loan regulations, but I believe this adjustment will not last long. There is a high possibility that the market will turn upward around March next year."Ko emphasized that the most critical factor determining housing prices in Seoul is supply. He noted, "Considering the planned supply volume, it is unlikely that the supply shortage in Seoul will be resolved in the short term, which means there is a possibility of continued upward trends over the next two to three years."He added, "While the Gangnam area is experiencing price adjustments due to regulations and tax burdens, demand has not disappeared. Once urgent sales are exhausted and policy impacts are reflected in the market, upward pressure from supply shortages may re-emerge."Ko identified rental prices as a key variable influencing future housing prices in Seoul. He explained, "Rental prices serve as a leading indicator for sales prices. When rental prices rise, monthly rents respond immediately, and typically, sales prices are affected with a lag of three to six months."He further stated, "The more supply is lacking, the higher rental prices will rise, which can stimulate sales prices again. Given that it takes a long time to supply apartments in Seoul, it is necessary to also expand the supply of non-apartment housing such as villas and officetels."Concerns over deepening residential polarization in SeoulIn a subsequent presentation, Kim Hyo-sun, a senior real estate expert at KB Kookmin Bank, addressed the topic 'Shifts in Housing Industry Direction Due to Rapidly Changing Real Estate Trends,' analyzing recent structural changes in the housing market and the industry's response.Kim noted, "Despite various regulatory intensifications, the strong demand for housing in the metropolitan area is driven by population concentration and supply shortages. There is a significant likelihood that the long-term trend of supply imbalance, with excess housing in the provinces and shortages in Seoul, will continue."He observed, "Seoul housing prices have shown a pattern of stagnation when financial regulations are tightened, followed by a rebound when the impact weakens. Recently, demand from those in their 20s and 30s, as well as single-person households, has entered the market, which could lead to continued increases in both sales and rental prices."From a supply perspective, Kim explained that rising construction costs are widening the gap between regions. He stated, "As the volume of new housing in Seoul continues to decline, new supply is primarily concentrated in key areas that can bear high construction costs, while outer regions, where securing project viability is challenging, may see a buildup of aging housing, exacerbating residential polarization within Seoul."He added, "Given that it is physically difficult to lower construction costs, there is a need to change the existing supply methods that are applied uniformly. We should consider new supply methods that can lower costs and allow consumers to have choices."Additionally, he pointed out that restrictions on transactions after obtaining approval for reconstruction and management disposal in redevelopment can delay the progress of maintenance projects. He suggested that regulations on transactions should be eased to allow buyers who wish to purchase new constructions while bearing the costs to do so, and that regulations on relocation loans should also be further relaxed.* This article has been translated by AI. 2026-09-03 18:28:20
  • Opposition Intensifies Pressure on Lees Cabinet Reshuffle
    Opposition Intensifies Pressure on Lee's Cabinet Reshuffle The opposition is ramping up its criticism of President Lee Jae-myung's second cabinet reshuffle on September 3. They are particularly demanding the withdrawal of the nominations for Minister of Justice Kim Seung-won and Minister of Gender Equality and Family Yong Hye-in.Jang Dong-hyuk, leader of the People Power Party, criticized Kim on his Facebook, stating that the allegations against him regarding 'bribery for drug facilitation' are a clear case of bribery. He emphasized, "Even if no money changes hands, the mere intent to offer a bribe can lead to a prison sentence of up to five years. This is clearly a serious crime." Regarding the cancellation of charges against President Lee, Kim stated, "As a candidate for Minister of Justice, I will adhere to the law and principles. The decision to maintain charges in individual cases is the prosecutor's prerogative, and I will respect that authority."In response, Jang remarked, "If this is sincere, then President Lee should be very concerned. If charges are not dropped, why would we appoint someone with so many issues as Minister of Justice?" He further stated, "If the charges are not dropped, then President Lee should withdraw the nomination. If he does not, it will be like a rigged game of Go-Stop."Meanwhile, Ahn Cheol-soo also targeted Yong, stating on his Facebook that there is growing public anger towards her. He claimed, "Yong is demanding privileges by seeking re-election through proportional representation while also holding a ministerial position, as if it were a given."Ahn dismissed reports that the Blue House had expressed negative sentiments about Yong's dual roles, questioning whether she was presented to the public without relinquishing any of her positions or if the nomination was made without proper verification.Additionally, a recent poll conducted by the Reform Party revealed that more than 60% of respondents view the second cabinet reshuffle under President Lee negatively. The survey, which included 1,017 individuals aged 18 and older, found that 65.0% believed the reshuffle was a mistake. Among these, 51.9% said it was 'very wrong' and 13.1% said it was 'somewhat wrong.'Furthermore, 59.7% of respondents expressed a negative outlook on how this reshuffle would impact future governance, compared to 26.9% who held a positive view.This poll was conducted using a wireless RDD method with an automatic response system, and it has a margin of error of ±3.1% at a 95% confidence level. The response rate was 3.48%.* This article has been translated by AI. 2026-09-03 18:24:00
  • Shinan County Launches Policy Advisory Committee with 53 Members
    Shinan County Launches Policy Advisory Committee with 53 Members Shinan County has officially launched a participatory policy advisory committee, allowing citizens and experts to discuss local issues and propose policies.On September 3, Shinan County held the first meeting of the 'Citizen Participation Sustainable Policy Advisory Committee' at the county hall auditorium, marking the beginning of its activities with the appointment of committee members.The advisory committee consists of 53 members, including citizens and experts, divided into seven subcommittees focusing on rural renaissance, land and maritime transportation innovation, welfare and healthcare, stay-type tourism, renewable energy, communication, and women.The committee's role is to incorporate expert opinions and local voices into county governance, identifying regional and sector-specific issues to develop into concrete policies.The first meeting was attended by about 70 participants, including 50 advisory members and Shinan County department heads. Following the presentation of appointment letters and the election of a chair, the committee addressed 'high-quality stay-type tourism activation' as its first policy agenda.The stay-type tourism subcommittee proposed strategies to increase tourist stay durations by linking Shinan's islands, marine, ecological, and cultural resources, ensuring that tourism spending benefits the local economy.During open discussions, key issues included establishing tourism routes connecting islands, expanding accommodation and transportation infrastructure, and developing tourism products that reflect local characteristics.There was also a suggestion to shift the focus of existing tourism policies from merely increasing visitor numbers to emphasizing how long visitors stay and how much they spend in the region as a key policy indicator.Park Seong-tae was elected as the chair of the committee.Park Seong-tae stated, “I will actively gather expertise from various fields and the voices of the 14 towns and villages to identify the policies needed for Shinan.”Kim Tae-sung, the mayor of Shinan County, remarked, “Policies begin with the lives of citizens. By combining the wisdom of citizens and experts, we will connect Shinan's resources to stay and local economies, creating effective policies that reflect local voices for a sustainable future.”Looking ahead, Shinan County plans to hold meetings for each of the seven subcommittees to identify local issues. Suggestions made in these subcommittees will undergo review and refinement before being incorporated into county policies.* This article has been translated by AI. 2026-09-03 18:24:00
  • Weather Forecast: Rain Expected on East Coast and Jeju, Late Summer Heat Continues in South
    Weather Forecast: Rain Expected on East Coast and Jeju, Late Summer Heat Continues in South On Friday, September 4, the weather across the country is expected to be generally clear, with rain forecasted for the eastern coast of Gangwon Province, mountainous areas, and Jeju Island.According to Yonhap News, rain is expected to begin in the eastern coastal and mountainous regions of Gangwon from the morning and continue into the night, while Jeju Island will see rain from early morning until the afternoon. However, some areas may experience intermittent rain.In Busan and Ulsan, there may be brief light rain with less than 0.1 mm expected.Over the two days from September 4 to 5, the anticipated rainfall in the eastern coastal and mountainous areas of Gangwon is between 5 to 20 mm, while Jeju Island is expected to receive 5 to 20 mm of rain on September 4.Morning low temperatures are forecasted to range from 17 to 24 degrees Celsius, with daytime highs expected to reach between 25 and 32 degrees Celsius. The expected morning lows for major cities are as follows: Seoul 21°C, Incheon 21°C, Chuncheon 18°C, Gangneung 19°C, Daejeon 21°C, Daegu 21°C, Jeonju 21°C, Gwangju 22°C, Busan 24°C, and Jeju 25°C.Daytime highs are expected to be: Seoul 29°C, Incheon 29°C, Chuncheon 27°C, Gangneung 26°C, Daejeon 28°C, Daegu 27°C, Jeonju 30°C, Gwangju 32°C, Busan 28°C, and Jeju 29°C.Fine dust levels are expected to be at a 'good' level nationwide.Wave heights in the sea are forecasted to be 1.0 to 3.5 meters in the East Sea, 0.5 to 1.5 meters in the West Sea, and 0.5 to 3.5 meters in the South Sea. In the offshore areas, wave heights are expected to reach 1.0 to 4.0 meters in the East Sea, 0.5 to 3.5 meters in the West Sea, and 1.5 to 5.0 meters in the South Sea.* This article has been translated by AI. 2026-09-03 18:20:20
  • Minister Park Hong-keun Engages with Current and Former Student Leaders to Hear Youth Voices
    Minister Park Hong-keun Engages with Current and Former Student Leaders to Hear Youth Voices Park Hong-keun, Minister of the Ministry of Planning and Budget, held a 'Future Response and Youth Policy Meeting' on September 3 at the Seoul Square conference room, attended by 28 participants, including current and former student council leaders and young public officials.The meeting was organized to listen to the opinions of the youth in the rapidly changing economic and social environment, including the transition to artificial intelligence (AI) and the decline in the school-age population, and to discuss the direction of government policy.Among the attendees were representatives from current and former student council unions, university student council presidents, and representatives from science and engineering students. The event featured a presentation by a young public official on key government policy issues, followed by discussions and feedback from student representatives.Key agenda items included: 1) strategies for promoting a future response fund, 2) major points for reforming education grants, and 3) comprehensive investment strategies for youth at different growth stages. Participants exchanged views on structural issues facing the youth, such as barriers to entering the job market and difficulties in asset formation, as well as broader education and financial policies.In his opening remarks, Minister Park emphasized that addressing the structural problems faced by young people is a national responsibility and expressed his intention to gather candid opinions from youth representatives.During the policy explanation that followed, Minister Park outlined plans to use the revenue surplus generated from the semiconductor boom to establish a future response fund instead of allocating it to current consumption expenditures. This fund aims to focus investments in four strategic areas: youth, growth drivers, local development, and education and talent, while also serving as a financial stabilization mechanism to respond to revenue volatility.Regarding the reform of education grants, he explained that the current structure linked to domestic tax revenues would be revised to address its limitations. The resources secured through this reform are planned to be invested in early childhood, higher education, and lifelong learning through the education and talent accounts of the future response fund.Additionally, he defined youth support policies as essential investments for the nation's future, aiming to restore the growth ladder and reduce disparities at the starting line through comprehensive investments tailored to different stages of youth development.* This article has been translated by AI. 2026-09-03 18:16:00
  • Jeonnam School Committee Chairs Call for Withdrawal of Education Finance Reform
    Jeonnam School Committee Chairs Call for Withdrawal of Education Finance Reform School committee chairs in Jeonnam have expressed concerns over the proposed reform of local education finance grants and have decided to jointly call for its withdrawal. The Jeonnam-Gwangju Integrated Special City Education Office announced on September 3 that it held the 'Second Term School Committee Chairs Regular Meeting' in Yeongam, where they discussed exchange plans between the Jeonnam and Gwangju school committee councils and strategies to respond to the education finance reform. The school committee council is a cooperative body formed around 22 regional councils in Jeonnam. It was established last year following the enactment of related ordinances and formed its second-term leadership in May, led by Heo Yu-in from Suncheon and Lee Hee-jin from Haenam. During this first official regular meeting of the second term, the issue of local education finance grants was a key agenda item. The attending chairs expressed concerns that the government's reform of local education finance grants could impact the financial conditions of frontline education. They adopted a statement urging the withdrawal of the reform plan and decided to promote a joint signature campaign. In their statement, the council demanded the establishment of practical consultation procedures involving city and provincial education offices and local education stakeholders. They also called for separate support measures for small schools in rural areas and schools in educationally vulnerable regions. They emphasized that investments in early childhood, high school, and lifelong education should be expanded through separate legal funding rather than reducing funding for primary and secondary education. Plans to expand exchanges between the Jeonnam and Gwangju school committee councils were also discussed. Participants agreed on the necessity of unifying related systems through the enactment of a unified ordinance and decided to promote gradual exchanges centered on the leadership of both regions in the early stages of integration. Following the meeting, a 'Communication with the Education Superintendent' session was held, where questions and answers were conducted regarding the direction of education policy and key issues in schools after the integration of Jeonnam and Gwangju. Heo Yu-in, chair of the school committee council, stated, "The school committee chairs from 22 cities and counties in the Jeonnam region will communicate closely to further enhance school autonomy. We will firmly respond to the reduction of education finance that threatens our children's learning environments and work towards creating a successful education model through active exchanges with the Gwangju council." Kim Dae-jung, the superintendent of the Jeonnam-Gwangju Integrated Special City Education Office, emphasized, "The school committee is a key organization for educational autonomy that grows with the community. I hope the Jeonnam and Gwangju school committees will closely collaborate to lead the development of K-education and present new, field-centered alternatives to major educational issues." Meanwhile, the school committee council plans to strengthen communication among the 22 city and county councils in Jeonnam while gradually expanding the scope of exchanges with the Gwangju school committee. They also intend to continue joint responses to educational issues directly related to the school field, such as the reform of local education finance grants.* This article has been translated by AI. 2026-09-03 18:12:10
  • Korean Football Association Refers Referees Inappropriate Comments About Ji So-yeon to Fairness Committee
    Korean Football Association Refers Referee's Inappropriate Comments About Ji So-yeon to Fairness Committee The Korean Football Association has decided to refer the case of inappropriate comments made by a referee towards Ji So-yeon of Suwon FC Women during a recent WK League match to its Fairness Committee.On September 3, the association's amateur referee evaluation committee met at Korea Football Park in Cheonan and, considering the seriousness of the matter, decided to escalate it to the Fairness Committee in accordance with referee regulations.The Fairness Committee plans to review the situation by hearing testimonies from those involved and examining the relevant details to determine whether disciplinary action is warranted and the appropriate level of punishment.The controversy arose during a match on August 28 at Suwon Sports Complex between Suwon FC Women and Seoul City Hall. Approximately 30 minutes into the first half, Ji So-yeon received a warning after protesting to the referee about the game situation, leading to a four-minute stoppage in play.The Korea Women's Football Federation reported that Ji So-yeon claimed to have heard the referee's crew use slang terms, such as 'girl's day' and 'sensitive,' during their wireless communication, which referred to menstruation. She protested to the referee regarding these comments.During this incident, Ji So-yeon expressed her frustration by throwing water bottles. Referee Bae Sun-young displayed a red card but did not issue an ejection. Initially, Bae denied making the related comments but later acknowledged that they were part of a conversation among referees.However, the referee team stated that they did not use the term 'menstruation' in their communication and did not specifically refer to Ji So-yeon.According to reports, Ji So-yeon's team, Suwon FC Women, raised concerns about the inappropriate comments made by the referees during the match and formally requested the federation and the football association to verify the facts and take action on August 30.Following the match, the federation listened to the club's opinions and reviewed relevant documents, including the referee's report and the match supervisor's report. On the morning of August 31, they requested an official statement from the football association's referee operations team regarding the circumstances of the comments made during the match and the specific facts, along with future handling plans.The football association stated, "In light of this incident, we plan to implement measures to prevent similar occurrences in the future and to strengthen education to foster a culture of mutual respect among all participants in the WK League, including players and referees."They added, "The football association has been working to prevent human rights violations in football by establishing ethical regulations and human rights protection regulations in 2023. We will continue to actively promote ethical awareness and a culture of mutual respect throughout the football community, not just in the WK League."* This article has been translated by AI. 2026-09-03 18:12:00
  • Kim Ho-seung Sworn in as 38th Chief of Jeonnam Police Agency, Prioritizing Citizen Safety
    Kim Ho-seung Sworn in as 38th Chief of Jeonnam Police Agency, Prioritizing Citizen Safety Kim Ho-seung has officially taken office as the 38th Chief of the Jeonnam Police Agency, marking a new leadership era in regional law enforcement.The Jeonnam Police Agency announced on September 3 that Kim has begun his duties following his inauguration.In his inaugural address, Kim emphasized that the safety of citizens is the police's top priority, outlining key directions for the agency: 'Ensuring citizen safety first,' 'a police force that is strict on crime,' and 'a compassionate police force that protects the vulnerable.'Kim expressed his pride in being part of the Jeonnam Police, stating, 'I am honored to stand here with you as a member of the proud Jeonnam Police. I feel a heavy responsibility in taking on the significant task of safeguarding citizens' daily lives.'He particularly highlighted the importance of public safety in the face of a changing security environment.'Safety is the foremost task that citizens expect from the police and is the highest value that cannot be compromised,' Kim said, calling for prompt and accurate responses to emergency calls and collaboration among local police, investigations, and traffic units.He also stressed the need for security policies tailored to the unique characteristics of Jeonnam, a region with vast areas and the highest number of islands in the country, to ensure that no citizen is left behind in receiving police services.Community policing in collaboration with local governments, related agencies, and citizens was also identified as a major task.In addressing crime, Kim called for 'expertise' and 'strictness.'He emphasized the need to enhance response capabilities to serious crimes such as drug offenses and increasingly sophisticated scams, including voice phishing. He advocated for developing expertise to adapt to rapidly changing environments, including advancements in AI technology, while also committing to actively pursue and recover criminal proceeds.Protecting the vulnerable and crime victims was highlighted as a key security policy.Kim urged, 'We must be strict with criminals but approach the vulnerable with warmth,' asking officers to handle cases involving women, children, and the elderly with care.He pledged to strengthen cooperation with local community agencies to help victims return to their daily lives and to build a robust social safety net by actively utilizing available resources.Kim also emphasized the importance of trust and accountability within the police organization. He conveyed a message to staff about the weight of the authority granted by the public and the need to uphold their basic duties as public servants.Internally, he expressed his intention to enhance communication with frontline officers and to foster an organizational culture where employees are fairly evaluated for their work.Kim referenced the saying 'Those who follow the right path will receive help from many' (득도다조) and stated, 'I will create an environment where hard-working individuals are properly recognized, allowing police officers to feel more fulfilled and proud in their roles.'Born in 1969, Kim graduated from Daeseong High School in Daejeon and earned a degree in police administration from Dongguk University, where he also obtained a master's degree in police studies. He joined the police force in 1995 as part of the 43rd executive candidate program.He has since served in various roles, including as the head of the Crime Prevention Division at the Chungnam Police Agency, the chief of the Boryeong Police Station, and the director of the Information Equipment Planning Division at the National Police Agency. He has also held positions as the chief of the Yongsan Police Station in Seoul and the director of Crime Analysis and Auditing at the National Police Agency.After being promoted to senior superintendent, he served in the National Defense University Security Course and as the head of the Public Safety Division at the Gyeonggi Northern Police Agency. He was later promoted to police commissioner and served as the chief of the Gyeonggi Northern Police Agency, the director of the National Police Agency's Public Safety and Traffic Bureau, and the chief of the Chungnam Police Agency before assuming his current role as the 38th chief of the Jeonnam Police Agency.With extensive experience in public safety, crime analysis, auditing, and public safety, attention is focused on how Chief Kim will harmonize frontline policing with internal trust within the organization.As he begins his tenure, Kim plans to prioritize public safety, protection of the vulnerable, response to serious and sophisticated crimes, and communication with frontline officers, aiming to enhance the safety of daily life for residents and build trust in the Jeonnam Police.* This article has been translated by AI. 2026-09-03 18:04:10
  • KOSPI loses cash and conviction
    KOSPI loses cash and conviction SEOUL, September 03 (AJP) -The KOSPI's summer hangover has followed it into September. Money is leaving South Korea's stock market, retail investors are nursing losses and foreign funds remain hesitant. Increasingly, the buyers keeping the market afloat are the companies themselves. The benchmark KOSPI managed a 0.26 percent gain Thursday to 6,579.48 despite net selling by all three major investor groups. Retail investors sold 955 billion won, foreigners 419.5 billion won and institutions 215.2 billion won. The counterweight was "other corporations," a Korea Exchange category that captures much of the share repurchasing by Samsung Electronics and SK hynix. They bought a net 1.59 trillion won, extending their buying streak to 12 sessions. "Corporate buybacks provide steady demand regardless of where the market is headed," said Jaewon Lee, a market analyst at Yuanta Securities Korea. "That allows foreign and institutional investors to stay cautious until the macro outlook becomes clearer." For retail investors battered by the summer selloff, caution has turned closer to exhaustion. "The moment I get back to break-even, I am out," said Yoo, a 33-year-old salary worker. "So many people at work are checking their stocks in the restroom that there are no empty stalls left." For others, the losses have started changing how they spend outside the market. Jang, a 31-year-old office worker in Seoul, said he had put nearly all the money he could invest into SK hynix, Samsung Electronics and a leveraged single-stock product. "Do you know what it feels like to pack your lunch the night before because your stocks have fallen so much that you cannot spend money on lunch?" he said. "I am already stuck, and I don't have any cash left to buy more to lower my average purchase price." BM Kim, a 36-year-old salesperson who owns semiconductor shares, is still holding on, although his expectations have come down. "I think semiconductors will go up eventually," he said. "Perhaps not as much as they did over the past year." That combination — unwilling to sell deep losses but increasingly unable or reluctant to put in fresh money — is showing up across the market. A net 12.54 trillion won ($9.2 billion) flowed out of South Korea's stock market in August, according to an analysis by Shinyoung Securities. It was the first monthly net outflow this year and the largest since the brokerage began compiling the figures in 2000. The amount exceeded the 2.83 trillion won withdrawn in December 2008 during the global financial crisis and the 8.05 trillion won outflow in December 2021 during the inflation shock. Retail buying has collapsed even faster. Individual investors' net purchases of KOSPI-listed shares across the Korea Exchange and Nextrade fell 90 percent to 5.4 trillion won in August from 54.5 trillion won in June. Their remaining ammunition is shrinking as well. Investor deposits — cash parked at brokerages and immediately available for trading — stood at 98.17 trillion won as of Sept. 1, down nearly 30 percent from this year's peak of 139.69 trillion won on June 4, according to the Korea Financial Investment Association. Foreign and institutional money has not filled the hole. On Wednesday, when the KOSPI plunged 3.99 percent, foreign investors dumped a net 1.91 trillion won and institutions sold 2.04 trillion won. Individuals bought 2.30 trillion won into the decline, while other corporations added another 1.65 trillion won of purchases. Even that was not enough to absorb the selling. Thursday was more revealing. The index managed to finish slightly higher even as retail, foreign and institutional investors all sold. Other corporations again stood alone on the buying side. The pattern began in earnest after South Korea's two dominant chipmakers launched enormous repurchase programs. SK hynix announced a 40 trillion won buyback and cancellation program on Aug. 19, with purchases beginning the following day. It also pledged to return more than half of cumulative free cash flow generated from 2025 through 2027 to shareholders through buybacks, cancellations and dividends. Samsung Electronics followed with a 15 trillion won open-market repurchase beginning Aug. 24 as part of a broader shareholder-return program expected to reach 90 trillion won to 110 trillion won this year. The scale is large enough to change the market's daily supply-and-demand balance. From Aug. 20 through Aug. 28 alone, other corporations bought more than 10 trillion won of KOSPI shares, with the purchases heavily concentrated in Samsung Electronics and SK hynix. In effect, corporate Korea has temporarily replaced the retail investors who powered much of the earlier rally. "Shareholder returns can continue through dividends or additional buybacks. I don't think that momentum will simply disappear," Lee said. Buybacks, however, can support prices only for as long as companies keep buying. Lee expects the broader market to remain range-bound through September and October while investors wait for greater clarity on interest rates, oil and U.S. politics. "The market is likely to remain in a range through September and October while uncertainty remains high," he said. "If interest rates and oil prices stabilize and uncertainty eases after the Nov. 3 U.S. midterm elections, I think the market could regain upward momentum." September has historically offered little comfort. From 2000 through 2025, the KOSPI lost an average 0.68 percent in September, making it the weakest month of the year. The decline averaged 1.86 percent in years with a U.S. presidential or midterm election. For a more durable rebound, foreign money will probably have to return. Foreign investors are still net sellers, although the pace has eased sharply from earlier in the summer. Their selling narrowed to roughly 9.9 trillion won in August after reaching 58.7 trillion won in June. They have also shown a willingness to return selectively, particularly to semiconductors. "Foreign investors have not simply been selling," Lee said. "There are still strong sectors such as semiconductors, and I think foreign flows can improve further if macroeconomic and geopolitical uncertainty eases." The won offers one argument for doing so. It strengthened to 1,359.3 per dollar Thursday, extending a recovery of more than 12 percent from levels above 1,550 in late June. "The stronger won is clearly a positive factor for foreign buying," Lee said. "But long-term interest rates are still too high, and oil has moved above $90. Those are burdens for foreign investors considering whether to turn net buyers." Those pressures remain substantial. The U.S. 10-year Treasury yield briefly reached 4.821 percent Wednesday, its highest since November 2023, before easing to 4.78 percent. Brent crude settled at $95.63 a barrel as renewed U.S.-Iran fighting kept concerns about supply disruptions alive. That leaves the KOSPI in an unusual position entering September. Retail investors have lost both money and appetite. Foreign funds are waiting.Institutions are providing little sustained support. Samsung Electronics and SK hynix, meanwhile, are buying billions of dollars of their own shares. For now, that is enough to put a floor under parts of the market. It is not yet the same thing as investors coming back. AJP Takeaways • Traditional buyers retreat: Retail, foreign and institutional investors all sold KOSPI shares Thursday even as the benchmark managed a 0.26 percent gain. • Corporate buybacks fill the gap: Samsung Electronics and SK hynix's massive repurchase programs have turned "other corporations" into one of the market's biggest sources of daily demand. • Retail firepower collapses: Individual net buying dropped 90 percent between June and August, while brokerage deposits have fallen nearly 30 percent from their June peak. • Foreign return remains key: A stronger won is becoming more supportive, but high U.S. yields, oil above $90 and geopolitical uncertainty continue to discourage a sustained return of overseas capital. 2026-09-03 18:02:54