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K-Fintech Company Appinit Files Patent with Seoul National University for AI Credit Evaluation Technology 인공지능(AI) 금융 플랫폼 어피닛은 서울대학교 산학협력단과 공동으로 신용평가의 정확도를 높이는 AI 기술에 대한 특허를 출원했다고 3일 밝혔다.이번 특허는 어피닛과 서울대가 지난해 개발도상국의 금융 접근성을 높이기 위해 시작한 'AI 기반 금융 프레임워크' 공동 연구의 첫 성과다.출원 기술의 핵심은 기존 신용평가 시스템에서 활용하기 어려웠던 대출 미승인 고객의 상환 능력을 심사에 반영하는 것이다. 대출 승인 고객은 이후 정상 상환이나 연체 여부가 데이터로 축적되지만, 미승인 고객은 실제 상환 능력이 있었는지 확인하기 어렵다. 이에 기존 시스템에서는 AI가 승인 고객의 상환 가능성을 예측하더라도 실제 승인과 거절 기준은 사람이 정한 규칙에 의존하는 한계가 있었다.어피닛과 서울대 연구팀은 이를 개선하기 위해 3단계 심사 전환 절차를 개발했다. 먼저 AI가 기존 심사 기준과 동일한 판단을 내리도록 학습시킨 뒤 과거 데이터를 활용해 새로운 심사 방식의 효과를 검증한다. 이 과정에서 부도율뿐 아니라 이자 수익과 원금 회수, 손실·비용 등을 종합적으로 고려해 대출을 거절하면서 놓치는 수익과 승인에 따른 손실을 함께 계산한다.마지막 단계에서는 가장 안전하다고 판단되는 일부 미승인 고객을 선별해 시범적으로 승인한다. 이들의 실제 상환 결과를 축적하면 기존에는 확보하기 어려웠던 미승인 고객군의 상환 데이터를 얻을 수 있다.신재혁 어피닛 AI 리드는 "서울대와 함께 시작한 연구가 1년 만에 실제 특허 출원으로 이어졌다"며 "부도율 예측만 학습하고 심사 결정은 학습하지 않았던 신용 평가 시스템의 오래된 한계를 풀어낸 기술로 그동안 기술의 한계로 거절 당하던 고객들에게도 더 정확한 심사를 제공할 수 있는 길을 열었다"고 말했다.* This article has been translated by AI. 2026-09-03 17:40:00 -
Opposition Criticizes 820 Trillion Won 'Super Budget' as Populist Spending On September 3, the National Assembly received a government budget proposal for the next year amounting to 821 trillion won. The proposal, which passed the Cabinet meeting on September 1, was sharply criticized by the People Power Party as a "populist spending budget."People Power Party leader Jang Dong-hyuk pointed out on his Facebook that the budget has increased by 93 trillion won (12.8%) compared to the previous year. He also mentioned the government's plan to establish a 162 trillion won Future Response Fund, warning that expansionary fiscal policy could trigger inflation and lead to further interest rate hikes."As the budget increases, taxes will also rise," Jang said, criticizing the government for attempting to fill its coffers by taking from citizens' wallets and making them dependent on government subsidies. He warned that this could lead to a country where only a privileged leftist class thrives while the public suffers.Floor leader Jeong Pom-sik also expressed concerns during a Supreme Council meeting, stating, "If we rely on the semiconductor boom to secure petty cash, it will create a crisis for the future of the people." He emphasized that the party would thoroughly scrutinize the budget proposal based on the principle that not a single penny of taxpayer money should be wasted.Jeong criticized the Future Response Fund, saying, "Those who cut the Blue House's special activity fund of 8.2 billion won as petty cash are now proposing to create a 162 trillion won 'super petty cash.' If tax revenues increase, we should pay off debts, not increase petty cash."Concerns are rising within conservative circles as monetary authorities have raised interest rates twice in a row, signaling a tightening stance while the government pursues expansionary fiscal policies. There are fears that if monetary and fiscal policies clash in this manner, it could fail to revive the economy and control inflation. Some experts warn that worsening conditions could lead to stagflation, where economic stagnation and rising prices occur simultaneously.Members of the People Power Party on the National Assembly's Finance and Economy Committee raised issues with the government's plan to accumulate 104.4 trillion won in 'surplus funds' for the Future Response Fund instead of paying off debts during a period of rising interest rates. They issued a statement saying, "The target return rate, investment scope, and responsibility for losses of the 104 trillion won surplus fund will be decided 'after the bill passes,' which is akin to asking the National Assembly to sign a blank check for 104 trillion won."They also criticized the plan to issue 100 trillion won in government bonds while accumulating surplus funds, arguing that it amounts to borrowing to fill the coffers while the government holds the keys to the treasury. The People Power Party's finance committee members vowed to scrutinize these bills closely during the regular session of the National Assembly to protect citizens' property rights and the Assembly's budget review authority.* This article has been translated by AI. 2026-09-03 17:36:00
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Won hits 14-month high, Korean bonds rebound SEOUL, September 03 (AJP) - The South Korean won climbed to a 14-month high against the dollar Thursday, while government bonds rallied as global yields eased after a sharp selloff. The won ended daytime trading at 1,359.3 per dollar, strengthening 0.7 percent from Wednesday and marking its strongest close since July 2, 2025. It touched 1,355.9 during the session, the strongest intraday level since July 3 last year. Exporter dollar selling added to broader weakness in the U.S. currency, while a firmer Japanese yen also supported the Korean currency. The dollar index hovered around 99.3 shortly after the Seoul close. The yen strengthened to around 157 per dollar as expectations for tighter Bank of Japan policy and concerns over possible intervention supported the Japanese currency. The won held most of its gains despite continued foreign selling of Korean equities. Foreign investors remained net sellers on the KOSPI for a fifth straight session, while the benchmark index edged up 0.26 percent to 6,579.48. South Korean government bonds also strengthened across maturities, reversing part of the sharp rise in yields seen over the previous four sessions. The three-year Korean government bond yield fell 4.2 basis points to 3.888 percent, while the five-year yield dropped 4.9 basis points to 4.118 percent. The 10-year yield declined 5.1 basis points to 4.367 percent, according to final quotations from the Korea Financial Investment Association. Ultra-long maturities also rallied, though by less than shorter tenors. The 20-year yield fell 2.1 basis points to 4.593 percent, while the 30-year yield declined 2.2 basis points to 4.635 percent. The weaker performance at the ultra-long end widened the gap between the 10- and 30-year yields to 26.8 basis points from 23.9 basis points a day earlier. Korean bonds tracked an overnight recovery in U.S. Treasuries and further declines in global yields during Asian trading. The U.S. 10-year Treasury yield eased after weaker-than-expected private employment data, while Japanese government bond yields retreated from recent highs. U.S. private payrolls increased by 38,000 in August, below market expectations and reinforcing caution ahead of Friday's nonfarm payroll report. Oil prices also retreated during Asian trading after recent gains, easing some inflation concerns that had contributed to the global bond selloff. Foreign investors returned to the three-year Korean government bond futures market, buying more than 9,000 contracts after heavy selling over the previous five sessions. Thursday's rally offered some relief after the rapid repricing in global sovereign bonds. Still, the relative underperformance of Korea's 20- and 30-year maturities showed that investors remained cautious about taking duration risk at the ultra-long end. 2026-09-03 17:32:13 -
Democratic Party Launches Political Reform Task Force to Discuss Electoral System Changes The Democratic Party of Korea has launched a Political Reform Task Force to discuss issues both within and outside the party, including the potential expansion of the multi-member electoral system currently implemented in some regions. Party leader Kim Min-seok indicated that discussions would also encompass easing requirements for negotiating groups to foster alliances with progressive and reformist factions.On the afternoon of September 3, the party initiated the task force, which will address electoral system reforms and support measures for lawmakers representing areas outside the National Assembly.Kim stated that the current political system favors incumbent lawmakers through the single-member district system, saying, "We need to consider whether to maintain the multi-member electoral system, which is limited to certain urban areas, or to expand it." He emphasized the importance of revitalizing local committees in preparation for the upcoming general election in 2028, urging the task force to develop practical proposals while ensuring a democratic deliberation process.Additionally, Kim announced plans to pursue broad recruitment from centrist and conservative factions while also seeking alliances with progressive and reformist groups, stating, "We will discuss electoral system reforms and easing requirements for negotiating groups with an open attitude."Co-leaders of the task force, Choi Taek-yong and Im Mi-ae, expressed their commitment to reforming the electoral system to enable the Democratic Party to structurally produce lawmakers in the Yeongnam region and to discuss support measures for local committee activities with party members.* This article has been translated by AI. 2026-09-03 17:32:10
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Ruling Party Faces Internal Strife Over Controversial Minister Nominee and Merger Talks The Democratic Party is facing a series of challenges, including ongoing controversies surrounding Yong Hye-in, the nominee for Minister of Gender Equality and Family, and allegations of a secret merger pact with the Innovation Party. Notably, party leader Kim Min-seok acknowledged the concerns, stating, "I am aware that there are many worries and criticisms. We are deeply considering this matter."On September 3, the Democratic Party voiced its stance regarding Yong, who was selected for the second-term cabinet under President Lee Jae-myung. Even within the pro-Lee faction, there are public objections to Yong, indicating deepening internal conflicts.During an appearance on the Democratic Party's program 'Minty07,' Kim responded to a question about his views on Yong, saying, "I know there are many concerns and criticisms. I am contemplating this seriously." This marks a rare instance of Kim, a close ally of President Lee, expressing public concern about Yong.Additionally, lawmakers Song Young-gil and Yoon Geon-young commented on the situation during separate radio appearances, stating that Yong lacks appeal to the younger generation and that her decision to hold dual roles as a proportional representative is disappointing.Park Sun-won, a member of the party's leadership, also called for Yong to resign from her parliamentary position on September 1. Park stated, "If she has become a nominee for Minister of Gender Equality and Family, she should seriously consider resigning from her position as a proportional representative."Compounding these issues is the recent controversy over the alleged merger pact with the Innovation Party. While Kim emphasized that the decision on the merger is still undecided, the Innovation Party has insisted that a clear understanding of the facts is necessary.Kim asserted that while collaboration with the Innovation Party is essential, the merger decision has not been made, urging restraint in comments that could hinder the process. This statement comes after Park Beom-gye, head of the party's integration promotion team, mentioned that discussions were taking place between lawmakers Lee Hae-sik and Jeong Chun-sang, prompting a backlash from the Innovation Party, which claimed the information was inaccurate.Despite Kim's reassurances, the Innovation Party has expressed discomfort. Spokesperson Im Myung-hee stated after a meeting of the party's leadership that integration and collaboration are separate issues, criticizing the Democratic Party for unilaterally pushing for integration without clarifying its position. Im also urged caution regarding Park's previous comments, highlighting a pattern of making statements to the media without verifying the facts.* This article has been translated by AI. 2026-09-03 17:32:00
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APAR Addresses Sudan Red Controversy Over MediCube Capsule Cream Global beauty company APAR has confirmed that its MediCube 'PDRN Pink Collagen Capsule Cream' showed no traces of Sudan Red in official tests. The company stated that further verification is needed regarding the authenticity and distribution of the questioned product.On September 3, APAR responded to the announcement by Singapore's Health Sciences Authority (HSA), which reported that traces of Sudan Red were detected in some batches of the MediCube PDRN Pink Collagen Capsule Cream.The batch numbers identified by HSA with trace amounts of Sudan Red are 2E122I.2E117I and 2E191G.2E193G. APAR explained that after reviewing official shipping and export records, there is no export history of these batches to Singapore. Therefore, verification of the product's authenticity and the distribution channels through local vendors in Singapore is necessary.APAR also clarified that it has no record of supplying or exporting the product to Venus Beauty Pte. Ltd., the retailer mentioned by HSA. According to the official shipping and export records reviewed by the company, Venus Beauty is not included in the official supply and distribution channels, and the batch numbers disclosed by HSA are not found in Singapore's official export records.On August 3, APAR conducted separate product testing in Singapore at the request of HSA, which confirmed that no Sudan Red was detected. Subsequently, on August 26, APAR received notification from HSA that the suspension of sales and supply for the product had been lifted.An APAR representative stated, "Since the issue arose, we have prioritized consumer safety by proactively halting sales in Asia and responding diligently to requests from authorities. After confirming the absence of Sudan Red in tests conducted by HSA-accredited laboratories, the suspension of sales and supply was lifted."The representative added, "The retailer mentioned by HSA as the source of the detected samples is not one of our official distributors, and the batch in question is also not found in our official export records to Singapore. We are verifying the factual circumstances surrounding how the product was distributed locally based on objective data."Meanwhile, APAR reported a consolidated revenue of 767.5 billion won for the second quarter of this year, marking a 134.2% increase compared to the same period last year. MediCube has consistently ranked first in the beauty category during Amazon's Prime Day in the first and second quarters of this year.* This article has been translated by AI. 2026-09-03 17:32:00
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Jinwoo wins reelection as head of Korea's largest Buddhist order SEOUL, September 03 (AJP) - Ven. Jinwoo won reelection Thursday as head of the Jogye Order, South Korea's largest Buddhist sect, becoming its first chief executive in 13 years to secure a second term. Jinwoo, the incumbent 37th president of the Jogye Order's General Affairs Office, was elected the order's 38th president with 183 votes, or 57 percent, in an indirect election held at the Korean Buddhist History and Culture Memorial Hall in central Seoul. All 321 members of the electoral college took part in the vote. His rival, Ven. Gyeongwoo, a former head monk of Seonunsa Temple, received 138 votes, or 43 percent. Jinwoo received his certificate of election shortly after the vote. He is expected to begin his second four-year term on Sept. 28 after approval from the order's council of elders on Friday. The result makes Jinwoo the first Jogye Order chief to win reelection since Ven. Jaseung, who secured a second term in 2013. It is also only the second successful reelection bid for the post since the order's internal reform in 1994. The president of the General Affairs Office is the most powerful administrative position in the Jogye Order, which oversees about 3,500 temples and 12,000 monks nationwide. The office controls the order's general administration, external affairs, temple appointments, property supervision and a budget worth more than 100 billion won. The post is also seen as representing Korean Buddhism more broadly, as the officeholder leads several affiliated Buddhist organizations. Jinwoo was born in Gangneung, Gangwon Province, and entered monastic life under Ven. Baegun. He received his novice precepts in 1978 and full precepts in 1998. He later served as head monk of Yongheungsa Temple in Damyang and, from 2012 to 2014, Baekyangsa Temple in Jangseong, where he was credited with stabilizing the temple after a gambling scandal and allegations of financial misconduct among its monks. Jinwoo went on to hold senior posts in the order, including planning director and general affairs director. As general affairs director, he served as acting head of the order in 2018 after then-President Seoljeong was removed from office. He later served as head of the order's education office from 2019 to 2022, before being endorsed by major factions in the order's Central Council and elected the 37th president in 2022 as the sole candidate, without a vote. Unlike in 2022, this year's election was contested. Jinwoo campaigned on stability during his first term and pledged to move Korean Buddhism into a new phase of growth. Questions were raised during the campaign over the timing of his full precepts and his monastic registration, but the order's election committee cleared him to run. AJP Takeaways · Ven. Jinwoo won reelection as head of the Jogye Order with 183 of 321 votes. · He becomes the order's first reelected chief in 13 years. · His second four-year term is set to begin Sept. 28 after elders' council approval. 2026-09-03 17:31:34 -
Korea-backed mega logistics center begins operations near Chicago SEOUL, September 03 (AJP) - A massive logistics center jointly developed by a South Korean logistics company and the Korea Ocean Business Corp. has begun full-scale operations in Elwood, Illinois, near Chicago, as Seoul expands its overseas logistics network. The Ministry of Oceans and Fisheries said Thursday that the Elwood logistics center was built through a joint investment by the Korean logistics company and the state-run Korea Ocean Business Corp (KOBC). The facility sits on a 295,000-square-meter site and has a total floor area of 103,000 square meters, roughly equivalent to 14 soccer fields. It is equipped with 130 loading docks for large trucks and other infrastructure designed to handle high volumes of cargo. The ministry highlighted the center's location as one of its key advantages. Elwood lies about 72 kilometers southwest of downtown Chicago and within 5.5 kilometers of the CenterPoint Intermodal Center, one of the largest logistics hubs in the United States. Its access to major rail and road networks allows cargo to be delivered to destinations across much of the country within two days, according to the ministry. The project was supported under the government's overseas logistics market development program, which has provided assistance to Korean logistics companies seeking to expand abroad since 2011. Under the program, five to 10 companies are selected each year to receive up to 200 million won ($147,394) each to help cover feasibility study costs for overseas projects. The Elwood project received such support in 2022 before moving forward with the investment. The facility also forms part of Seoul's broader effort to secure overseas logistics assets amid growing concerns over global supply chain disruptions. The government and KOBC have also set up a 1 trillion won fund to help Korean logistics companies secure overseas assets and strengthen supply chains. Seoul plans to establish 40 public-private logistics centers overseas by 2030. Logistics centers backed by Korean public institutions will be designated as shared overseas facilities through Korea Trade-Investment Promotion Agency (KOTRA), giving small and midsized Korean companies access to logistics services at lower costs. "We expect this project to enhance the competitiveness of Korean logistics companies while providing stable logistics services to Korean importers and exporters operating in the United States," said Kim Hye-jung, director general for shipping and logistics policy at the ministry. AJP Takeaways · Korea-backed logistics center begins operations near Chicago, expanding Seoul’s U.S. logistics network. · The 103,000-square-meter facility has 130 loading docks and access to major rail and road networks. · Seoul aims to establish 40 public-private overseas logistics centers by 2030. 2026-09-03 17:31:24 -
Tving Projects Financial Burden from Customer Compensation for Data Breach Tving anticipates a significant financial burden from customer compensation related to a data breach, which is expected to last until the end of the year. The compensation package is valued at approximately 20,000 won per person, but the total cost remains uncertain due to the number of affected individuals and the application rate.During a briefing on the data breach held on September 3 at the Koreana Hotel in Gwanghwamun, Jang Hyun-kyung, head of Tving's business management division, stated, "We expect there will be a financial burden in implementing the compensation package, and it will have an impact this year." He added, "It is difficult to predict how many users will apply, so we cannot specify the exact financial burden."On the same day, Tving announced its customer compensation package, which includes: △ Cyber insurance for hacking and phishing incidents △ Premium viewing environment upgrades △ Tving points △ Entertainment coupons. Jang noted, "We structured it to provide a consumer-perceived value of about 20,000 won per person."Tving also plans to increase its investment in information security. According to the company, its investment in information security last year was approximately 2.5 billion won. Tving aims to expand its annual investment in information security to a maximum of 10 billion won by 2030.The company will also increase its dedicated information security personnel, adding up to 16 external staff by the end of this year. Ko Min-seok, vice president in charge of human resources, stated, "We plan to further expand internal and external personnel considering future investment scale and organizational restructuring."CEO Choi Joo-hee added, "We will subdivide the information security team into four groups and calculate the necessary personnel size for additional hiring."Meanwhile, Tving stated that the compensation plan considers factors such as a safety net for customers, improved viewing environments, and benefits that customers can choose and experience directly.The cyber insurance will be provided for one year, covering up to 3 million won per person for damages from cyber financial fraud due to hacking and phishing, as well as scams from online shopping malls and personal transactions. Tving explained, "While the insurance is not a direct monetary compensation for the data breach, we believe it can help alleviate customer anxiety about potential future damages."The viewing environment will also be upgraded. Subscribers will receive a premium viewing environment until the end of the year without needing to apply separately. Additionally, Tving will provide 5,000 won in Tving points, which can be used for purchasing individual content like the latest movies.Customers will also receive a one-month subscription to Wave's ad-supported video-on-demand (AVOD) service (5,500 won) or a 5,000 won discount coupon for a CGV combo. Compensation applications will be available from September 7 to 30 through the Tving app and website, with compensation set to take effect on October 6.* This article has been translated by AI. 2026-09-03 17:24:00
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Lottery Winner Hits Jackpot with $21 Million in Pension Lottery A man has won both the first and second prizes in the Pension Lottery after purchasing tickets inspired by online videos of scratch-off games.Recently, Donghaeng Lottery shared the story of a winner, identified as A, who won in the 329th round of the Pension Lottery 720+.A, who typically buys lottery tickets once or twice a year, said, "After watching videos of scratch-off games online, I thought it would be fun to buy a ticket." He purchased five Scratch 1000 tickets and a set of Pension Lottery tickets that caught his eye.Upon returning home, A scratched off all five Scratch 1000 tickets, only to find that they were all losers. Disheartened, he checked the winning numbers for the Pension Lottery and was astonished to discover he had won both the first and second prizes."I thought, 'This can't be real!' I was so happy," A expressed, adding, "I never expected to win a large amount of money, as I was told I wasn't destined for it. It feels like I've used up all my luck in one go with this win."He also mentioned that the night before confirming his win, he dreamt of a war. A plans to save the winnings to help build a foundation for purchasing a home in the future.Meanwhile, to win in the Pension Lottery 720+, all six digits must match. The first prize winner receives 7 million won monthly for 20 years, while the second prize winner gets 1 million won monthly for 10 years. Thus, the simultaneous winner of both prizes will receive approximately 2.1 billion won over 20 years.* This article has been translated by AI. 2026-09-03 17:20:10