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  • Yulchon Law Firm Hires Former Fair Trade Commission Member Kim Hyung-bae
    Yulchon Law Firm Hires Former Fair Trade Commission Member Kim Hyung-bae Yulchon Law Firm (led by Managing Partner Kang Seok-hoon) announced on September 3 that it has appointed Kim Hyung-bae, a former member of the Fair Trade Commission (FTC) and current head of the Korea Fair Trade Mediation Agency, as a senior advisor.Kim, who entered public service after passing the 34th National Administrative Examination, has dedicated over 30 years to fair trade policy development and enforcement. He has held key positions within the FTC, including Director of the Market Surveillance Bureau, Director of the Cartel Investigation Bureau, and Director of Market Structure Improvement Policy, before serving as a member of the commission.During his tenure at the FTC, Kim was directly involved in investigations and reviews of significant cases, including abuses of market dominance by large domestic and international corporations, major cartel cases, unfair support practices, and mergers involving domestic and foreign companies, as well as issues related to platforms and subcontracting laws.As the fifth president of the Korea Fair Trade Mediation Agency, he contributed to the relief of small and medium-sized enterprises and the promotion of a culture of voluntary compliance with fair trade regulations, as well as the modernization of the fair trade mediation system.Kim is also recognized for his international expertise in competition law. He has served as an advisor on competition and consumer policy for the United Nations Conference on Trade and Development (UNCTAD), as a minister-counselor at the South Korean Embassy in the United States, and as vice-chair of the OECD Competition Committee. His deep insights into the latest trends and enforcement of global competition law are expected to benefit both domestic and international corporations seeking fair trade advice.Additionally, Kim is regarded as an authority in the field of compliance programs, having authored the bestselling book 'Theory and Practice of Fair Trade Law,' which is considered essential reading for legal professionals and FTC officials.With Kim's extensive experience in fair trade policy formulation, case investigation, international cooperation, and dispute resolution, Yulchon aims to enhance its advisory capabilities in the fair trade sector and provide more sophisticated and practical solutions to the complex fair trade risks and regulatory issues faced by businesses.* This article has been translated by AI. 2026-09-03 17:20:00
  • Ministry of SMEs Unveils Four Major Innovation Strategies for Exports, Aiming for $180 Billion by 2030
    Ministry of SMEs Unveils 'Four Major Innovation Strategies' for Exports, Aiming for $180 Billion by 2030 The government aims to boost small and medium-sized enterprise (SME) exports to a record $180 billion by 2030. This initiative seeks to diversify the current export structure, which is heavily reliant on K-beauty, by expanding into sectors such as fashion, food, and industrial goods. Additionally, the government plans to promote the enactment of the 'Act on the Promotion of Overseas Expansion of SMEs.' On September 3, the Ministry of SMEs and Startups discussed the 'Four Major Innovation Strategies for SME Exports' during the 13th National Policy Coordination Meeting chaired by the Prime Minister. SME exports reached a record high of $64 billion in the first half of this year. The emergence of new growth drivers, such as K-beauty and online exports, has contributed to the diversification of South Korea's export items and markets. To ensure that the current export success is not a temporary achievement, the government has outlined four major innovation strategies: accelerating the rapid growth of promising export companies, discovering and supporting promising export items, exploring emerging markets, and enhancing the export support system centered on businesses. Through the 'Global Scale-up 500' initiative, the government will select 500 promising export companies with high growth potential and provide multi-year, package support based on an export roadmap. The plan includes expanding support to cover sourcing of raw materials and strengthening connections with local market entry specialists to enhance marketing and supply chain assistance. The 'Export ON 2000' program will target 2,000 companies, including young entrepreneurs, small business owners, regional firms, and companies re-entering the export market. Tailored programs will be offered, covering everything from export preparation to utilizing online platforms, joint overseas ventures, and re-entry support. In the consumer goods sector, the government plans to identify next-generation 'K-brand strategic items' such as fashion, food, and beauty devices, and support SMEs' overseas marketing by leveraging the networks of distribution and media companies. Collaboration among government agencies will also be strengthened to resolve challenges in logistics, intellectual property, and certification during the export process. In the industrial and tech sectors, the government will identify 'K-Tech strategic items' by reflecting overseas industrial policies, supply chain dynamics, and technological changes. Support will be provided for local proof of concept (PoC) projects, technology and product enhancements, and funding and consulting for overseas exhibitions and export contract fulfillment. Channels for international cooperation established through diplomatic efforts will be transformed into opportunities for SMEs. A comprehensive overseas expansion hub will be established in India, while K-beauty will expand its online and offline presence in Brazil. A startup-focused hub will be set up in Singapore, and a global venture fund (K-VCC) will be created, along with a permanent K-brand pop-up store in Europe. In Mongolia, support for market entry will be pursued using local convenience store networks and distribution infrastructure. The government will also enhance policy accessibility for SMEs. This includes integrating export support announcements and simplifying application documents, as well as implementing AI-based tailored recommendations for buyers and support programs. A 'Permanent Difficulty Reporting Center' will be established to respond to rapidly changing trade environments. The enactment of the 'Act on the Promotion of Overseas Expansion of SMEs' will provide a legal foundation to support SMEs' international ventures. Collaboration with global networks, such as the 'APEC Startup Alliance,' will also be strengthened. Yoon Yong-seok, the First Vice Minister of the Ministry of SMEs and Startups, stated, "In the face of ongoing uncertainties in the global trade environment, it is crucial to solidify the foundation for SME exports and growth to sustain current export achievements. We will focus our policy efforts on quickly implementing the four major innovation strategies to exceed the existing national goal of $150 billion and achieve $180 billion in SME exports by 2030."* This article has been translated by AI. 2026-09-03 17:16:00
  • Samsungs AI Boom Boosts Vietnam Operations with 23.5% Profit Increase
    Samsung's AI Boom Boosts Vietnam Operations with 23.5% Profit Increase Samsung Electronics' key production bases in Vietnam saw both revenue and net profit rise in the first half of the year. With the growing demand for semiconductor components driven by the spread of artificial intelligence, the factories in Thai Nguyen and Bac Ninh have emerged as the focal points of this performance.According to local media reports on September 3, Samsung's financial report for the first half of the year revealed that its local subsidiaries, including Samsung Thai Nguyen (SEVT), Samsung Electronics Vietnam Bac Ninh (SEV), Samsung Display Vietnam Bac Ninh (SDV), and Samsung Electronics HCMC CE Complex (SEHC), recorded total revenues of 52.25 trillion won. This marks a 21% increase compared to the same period last year.Additionally, the net profit of these four subsidiaries rose by 23.5% year-on-year to 3.43 trillion won. As a result, Samsung Vietnam's revenue and profit both showed double-digit growth, contributing significantly to the company's overall performance. Samsung Vietnam accounted for 17.1% of Samsung Electronics' total revenue (305.37 trillion won) and 2.9% of its net profit (118.85 trillion won) for the first half of the year.The highest-performing entity was Samsung Thai Nguyen, which produces mobile phones and communication equipment. It reported a revenue of 24.06 trillion won and a net profit of 1.60 trillion won for the first half, reflecting a 22.4% increase in revenue and a 33.4% increase in profit compared to the previous year.Samsung Electronics Vietnam in Bac Ninh ranked second in terms of revenue, generating 13.56 trillion won, a 15.4% increase from the same period last year. Its profit rose by 23.1% to 1.01 trillion won, with a profit margin of 7.4%, the highest among the four subsidiaries in Vietnam.Samsung Display Vietnam also saw significant growth, with revenues and profits reaching 10.52 trillion won and 590.3 billion won, respectively, marking increases of 32.7% and 46.8%. In contrast, the Samsung Electronics HCMC CE Complex was the only subsidiary to report a decline in profit, with revenues of 4.16 trillion won, a 3.8% increase year-on-year, but profits fell by 8.4% to 235.6 billion won.In terms of export performance, the mobile phone production bases in Bac Ninh and Thai Nguyen surpassed a cumulative export revenue of $500 billion. Samsung Electronics CEO and Device Experience (DX) Division Head, Roh Tae-moon, announced on August 27 that the two mobile phone manufacturing facilities achieved this milestone by the end of June, having operated in Vietnam for 17 years.New product successes were also highlighted, with Roh noting that the Galaxy Fold 8, launched in early August, has received positive feedback in the global market. This statement was made alongside the export achievements of the major mobile production facilities in Vietnam.Samsung began its production in Vietnam in 1995 with a TV manufacturing plant in Ho Chi Minh City. Since then, it has expanded its investments, establishing itself as the largest foreign direct investment (FDI) company in Vietnam. By the end of 2025, Samsung's cumulative investment in Vietnam is expected to exceed $24 billion.As South Korea's largest private conglomerate, Samsung's main businesses include electronics, finance, heavy industry, and technology. In Vietnam, it has expanded its operations primarily around mobile phones, communication equipment, displays, and consumer electronics manufacturing facilities.On a global scale, Samsung's performance in the first half of the year also saw significant growth, with revenues of $206 billion and net profits of $80 billion. This represents a twofold increase in revenue and a ninefold increase in net profit compared to the same period last year.Regionally, China emerged as Samsung's largest market, generating $59.7 billion in revenue, surpassing the $47.6 billion from the U.S. and the Americas.The surge in Samsung's profits is attributed to the increased demand for memory semiconductors. Strong demand for high-bandwidth memory (HBM), as well as DRAM and NAND, has contributed to this positive performance. The expansion of AI applications requiring higher computational power has further increased the demand for related components.Meanwhile, Samsung's four major factories in Vietnam have collectively increased their revenue and profits in the first half of the year, playing a crucial role in the group's overall performance. The factories in Thai Nguyen and Bac Ninh have been central to this growth, aligning with the rising demand for semiconductors that has improved Samsung's global profitability. 2026-09-03 17:12:00
  • Hotel Lotte Wins Top Award at 2026 Korea Accounting Awards, First for Lotte Group
    Hotel Lotte Wins Top Award at 2026 Korea Accounting Awards, First for Lotte Group Hotel Lotte has been recognized for its accounting transparency and reliability in financial reporting.On September 3, Hotel Lotte announced that it received the top award at the '2026 Korea Accounting Awards' ceremony held at the Maekyung Media Center in Jung-gu, Seoul. This marks the first time a subsidiary of the Lotte Group has won this award.Now in its ninth year, the Korea Accounting Awards are hosted by the Maekyung Media Group and supported by the Financial Services Commission, the Financial Supervisory Service, and the Korean Accounting Standards Board. The awards recognize exemplary companies that contribute to transparent accounting practices and enhanced financial reliability through a rigorous selection process.Hotel Lotte was highly regarded for its stable financial reporting system and professional accounting management capabilities, despite its complex business structure, which includes hotels, resorts, duty-free shops, and theme parks.In particular, the company has proactively addressed key accounting issues by leveraging the expertise of its accounting staff and external experts, thereby enhancing the accuracy and transparency of its financial information.Hotel Lotte operates its internal accounting management system through a dedicated organization. It conducts annual reviews of internal controls for key processes across its business divisions and manages potential financial risks in advance.Moreover, despite being a private company, it implements audit responses and internal controls comparable to those of publicly listed companies. Hotel Lotte shares major accounting issues and audit results with its audit committee and closely collaborates with external auditors to incorporate their recommendations.These efforts form the foundation for strengthening governance, a key pillar of its environmental, social, and governance (ESG) management. Hotel Lotte has adopted the slogan 'Steps Toward a Sustainable Journey' and is actively pursuing various initiatives across environmental, social, and governance areas. It publishes an annual sustainability report that aligns with international guidelines and enhances the objectivity and reliability of its information through third-party verification.Additionally, the company is continuously strengthening its data-driven management system to ensure the implementation of sustainability management tasks. It plans to enhance management levels to bridge the gap between planning and on-site execution, ensuring that sustainability initiatives lead to tangible changes.Park In, head of the corporate support division at Hotel Lotte, stated, 'This award is a result of our continuous efforts to enhance transparency and trust across our management, beyond just providing the best service to our customers.' He added, 'In line with the significance of being the first subsidiary of Lotte to win this award, we will continue to improve accounting transparency and the reliability of our financial reporting to become a company trusted by our customers and the market.'* This article has been translated by AI. 2026-09-03 17:08:10
  • Yeongcheon Racecourse to Open with Innovative Regional Racing Model
    Yeongcheon Racecourse to Open with Innovative Regional Racing Model The Let's Run Park Yeongcheon, the fourth racecourse in South Korea, will officially open on September 11. This marks the culmination of efforts that began in 2009 when the site was first selected, taking 17 years to come to fruition. A key feature of this new racecourse is the introduction of a 'regional racing' model, which has become a standard in advanced racing countries like the United States, Japan, and Hong Kong.This innovative approach aims to overcome legal and institutional limitations that have delayed the project and to modernize the operational structure of horse racing in South Korea.The prolonged development of the Yeongcheon racecourse has been largely attributed to issues surrounding the reduction of leisure taxes. The Korea Racing Authority initially planned to build large-scale facilities under a 30-year agreement that included a 50% reduction in leisure taxes, established in 2010. However, a revision to local tax laws in 2012 made such reductions impossible, halting progress on the project.A breakthrough came with the signing of a third agreement in 2018, which divided the project into two phases. The first phase will see an investment of 185.7 billion won to construct essential facilities, including two racetracks, a grandstand, and 100 stables.To avoid redundant investments in large stable facilities and enhance operational efficiency, the regional racing model was realized. Unlike the existing racecourses in Gwacheon, Jeju, and Busan-Gyeongnam, which operate with horses fixed in their respective areas, the Yeongcheon racecourse will follow a regional racing system, moving horses from Busan-Gyeongnam to Yeongcheon for each race day.This structure significantly reduces the initial investment and maintenance costs associated with building large stable facilities. By utilizing proven horses and infrastructure already in place in Busan-Gyeongnam, operational costs are greatly minimized, allowing for immediate operations. In the second half of this year, a total of 72 races will be held over 12 weeks, starting with a commemorative race on September 13.The success of the regional racing model hinges on minimizing stress for horses during long-distance transport and managing their condition. To address this, the Korea Racing Authority has fully incorporated the International Federation of Horseracing Authorities' guidelines for horse transport welfare.Thirteen specialized, vibration-free transport vehicles, each with a capacity of 13.5 tons, have been custom-built, featuring air conditioning, adjustable partitions, and special rubber flooring to prevent injuries. Additionally, the vehicles are equipped with real-time GPS tracking and classical music playback systems.Veterinarians and farriers will conduct thorough examinations before and after transport, and monitoring objective indicators such as weight recovery rates and disease incidence will be crucial during actual operations.Unlike traditional racecourses, the Yeongcheon racecourse is designed as an eco-friendly leisure space for local residents. The grandstand, which can accommodate approximately 3,500 people, features a tiered design inspired by traditional Korean architecture, and a large waterfront park has been developed inside the racetrack.The parking lot, which can hold 1,746 vehicles, is equipped with solar power canopies. Plans are also in place to expand transportation networks, including the extension of Daegu Metro Line 1 to Yeongcheon and the opening of the Kumho and Daechang Hi-Pass interchanges. The development of these infrastructures is expected to enhance the area's potential as a tourist destination.However, the second phase of the project, which includes a riding academy and additional stable facilities costing 120 billion won, remains contingent on resolving the leisure tax issue. As Let's Run Park Yeongcheon takes its first steps with a cost-effective, advanced operational model, there is significant interest in whether it can establish a stable and mutually beneficial presence in the region over the long term.* This article has been translated by AI. 2026-09-03 17:08:00
  • Intense Competition Among Investment Banks Amid IPO Drought
    Intense Competition Among Investment Banks Amid IPO Drought The investment banking (IB) sector is experiencing a severe drought of deals, leading to fierce competition among securities firms to secure underwriting rights. In a striking development, some issuers are now requiring securities firms to invest in their companies as a condition for being selected as lead underwriters.According to industry sources, the power dynamics in the selection process for underwriting initial public offerings (IPOs) by small and mid-sized private companies have shifted significantly in favor of issuers.Despite securities firms expanding their IB divisions and increasing the number of IPO-focused houses, the prolonged high-interest rates, coupled with stricter listing review standards from exchanges and heightened market scrutiny on valuations, have led to a substantial decline in the number of viable IPOs.The problem is that this heated competition has resulted in excessive demands from issuers. Recently, some private companies have proposed unprecedented conditions, stating, "We will only grant lead underwriter status to the securities firm that invests in our pre-IPO funding round." A semiconductor and electronic components-related private company, referred to as Company A, has made direct investment (PI) a mandatory requirement during its lead underwriter selection process.In response, existing underwriters and large securities firms that submitted proposals are reportedly struggling to secure the deal while expressing reluctance to meet these investment conditions.A representative from a securities firm that participated in Company A's presentation stated, "In a situation where the outcome of the preliminary listing review is uncertain, executing a stake investment worth hundreds of millions of won to obtain underwriting rights poses too great a risk. However, if we do not accept these conditions, we risk losing the deal altogether, forcing us to present the matter to our investment review committee with reluctance."Experts warn that this practice of selecting underwriters based on investment conditions could undermine the risk management frameworks of securities firms. The potential losses from equity investments may outweigh the underwriting fees, creating a situation where the costs exceed the benefits.Concerns have also been raised about the potential breakdown of the tension between underwriters and issuers. A securities firm that has invested in an issuer may face conflicts of interest, prioritizing the recovery of their investment over objectively assessing the issuer's valuation, which could lead to inflated public offering prices.A financial industry insider noted, "If underwriters, who are supposed to conduct fair valuations and due diligence, become beholden to issuers due to equity investments, it could result in inflated public offering prices and inadequate listing verification, ultimately harming retail investors who enter the market after the IPO." 2026-09-03 17:08:00
  • [2027 Budget] Overseas Koreans Agency Allocates 136.9 Billion Won, Largest Increase in History
    [[2027 Budget]] Overseas Koreans Agency Allocates 136.9 Billion Won, Largest Increase in History The Overseas Koreans Agency has set its budget for next year at 136.9 billion won, marking a 21.4% increase from this year. Notably, funding for the repatriation of Sakhalin Koreans and related policies has been increased by 70%.Kim Kyung-hyup, head of the Overseas Koreans Agency, announced this on September 3 at the Ministry of Foreign Affairs in Jongno, Seoul, stating, "This is the largest increase since the agency was established."He added, "This budget is focused on addressing key issues within the Korean community and realizing an 'inclusive policy for overseas Koreans without discrimination.'" Kim emphasized that the budget reflects the results of a comprehensive survey conducted this year on the needs of overseas Koreans. He noted that 25.5 billion won will be allocated to strengthen Korean language schools, and 4.5 billion won will be invested in revitalizing Korean community organizations, prioritizing the resolution of on-the-ground issues.He also mentioned, "We will improve the treatment of historically significant overseas Koreans, aiming for all Sakhalin Koreans wishing to return to their homeland to do so. The budget for this initiative has been set at 13.6 billion won, a 70% increase from this year."However, Kim expressed some disappointment, stating, "As the head of the agency, I feel that the ongoing demand for on-the-ground support has not been fully captured in this budget proposal."Additionally, he pointed out that while the average government expenditure per citizen this year is 14 million won, the budget for the 7 million overseas Koreans amounts to only 16,000 won per person. 2026-09-03 17:08:00
  • TVING data breach exposes 40 million user accounts
    TVING data breach exposes 40 million user accounts SEOUL, September 03 (AJP) - Personal information of some 39.5 million users of South Korean streaming service TVING was leaked through a cyberattack, the government said Thursday. The information breach is the biggest among a recent series of cyberattacks in the country. A joint public-private investigation team under the Ministry of Science and ICT said the compromised information included names, birth dates, mobile phone numbers, email addresses and connecting information, covering 20 categories and 70 types of data. Passwords had been protected by one-way encryption and could not be decrypted. Still, encryption keys for phone numbers and email addresses were also stolen, meaning that data were effectively exposed in plaintext, according to the investigators. The attackers also stole 361 development projects containing source code and other technical assets totaling about 30.35 gigabytes. Investigators found that hackers gained access to TVING's internal systems after stealing a developer's access key. The investigation cited inadequate key management, insufficient monitoring and security personnel, along with the company's failure to address vulnerabilities identified in a 2024 penetration test. TVING detected the breach on May 31 but reported it to the Korea Internet & Security Agency, the country's internet watchdog, more than 24 hours later, exposing it to a fine of up to 30 million won ($22,000). The incident follows a string of major data breaches in South Korea last year. SK Telecom suffered a cyberattack that compromised USIM-related information belonging to about 23.24 million users, while recruitment platform Incruit lost personal data belonging to about 7.28 million members. Lotte Card later confirmed that personal credit information belonging to about 2.97 million customers had been leaked, while Coupang disclosed in November that personal information linked to about 33.7 million customer accounts had been exposed. South Korea received 447 personal data breach reports in 2025, up 45.6 percent from 307 a year earlier, according to the Personal Information Protection Commission and the Korea Internet & Security Agency. AJP Takeaways A cyberattack on South Korean streaming platform TVING exposed personal data tied to about 39.54 million user accounts, including names, birth dates, phone numbers and email addresses. Hackers also stole 361 development projects containing source code and other technical assets after gaining access through a developer’s compromised access key, according to a government investigation. The breach comes amid a surge in major cyberattacks in South Korea, as the National Assembly expands the National Intelligence Service’s role in economic and cyber security, including responses to suspected state-backed hacking groups. 2026-09-03 17:04:00
  • CJ Hosts CJ Night to Showcase K-Lifestyle at Frieze Seoul 2026
    CJ Hosts 'CJ Night' to Showcase K-Lifestyle at Frieze Seoul 2026 CJ introduced its K-lifestyle content, including K-food, K-beauty, and K-pop, to global cultural and artistic figures visiting South Korea for the prestigious art fair, Frieze Seoul 2026.On September 2, CJ held the 'CJ Night in Celebration of Frieze Seoul' at the Leeum Museum in Seoul, attended by over 400 guests from the art and cultural sectors, as well as business leaders.This marks the third time CJ has organized the CJ Night event during Frieze Seoul, following similar events in 2022 and 2024. This year, the event not only facilitated exchanges among cultural figures but also showcased the content and brands of CJ's major affiliates, highlighting various collaboration opportunities.CJ CheilJedang and CJ Foodville prepared a food and beverage program centered around K-food. They featured dishes from CJ CheilJedang's Korean cuisine talent development project 'Cuisine. K,' along with products from the global Korean food brand 'Bibigo' and CJ Foodville's bakery brand 'Tous Les Jours.' Cocktails made with CJ CheilJedang's K-spirits 'jari' were also served.Spaces were created to experience K-beauty and art. The 'K-Style Zone' showcased CJ Olive Young's beauty care service 'Skin Scan' and key products from CJ OnStyle. The 'K-ART Zone' featured major catalogs from the Leeum Museum and an exploration of the works of artist Gu Jeong-a.The performance program included elements of K-pop and other aspects of Korean popular culture. Park Geon-wook and Seok Matthew from the group ZEROBASEONE hosted the event, which featured performances by beatboxer Wing, ZEROBASEONE, and Hwasa.Attendees included CJ Vice Chairperson Lee Mi-kyung, along with executives from CJ ENM, CJ CheilJedang, and CJ Olive Young. International guests included Maya Hoffmann, founder of the European Art Foundation Luma, Jo Ryan, director of the Hammer Museum in Los Angeles, and Jessica Morgan, director of the Dia Art Foundation in New York. Artists Lee Ufan, Seo Do-ho, and Gu Jeong-a, architect Cho Min-seok, director Baz Luhrmann of the film 'Moulin Rouge,' Hollywood actor Noah Centineo, and X JAPAN leader Yoshiki were also present.A CJ representative stated, 'CJ Night is an opportunity for global cultural and artistic leaders to directly experience Korean culture and lifestyle, fostering new inspiration and exchanges. We will continue to expand touchpoints to integrate K-lifestyle into the daily lives of people worldwide.'* This article has been translated by AI. 2026-09-03 17:00:00
  • Korean FX authorities reportedly absorb $20 billion SK hynix funds
    Korean FX authorities reportedly absorb $20 billion SK hynix funds SEOUL, September 03 (AJP) - South Korea's foreign-exchange authorities reportedly absorbed about $20 billion of SK hynix's U.S. share proceeds off market, while the won closed Thursday at its strongest level in about 14 months. The Foreign Exchange Stabilization Fund, or FESF, bought about $20 billion in dollars repatriated after SK hynix raised $26.5 billion through an American depositary receipt offering in July, Reuters reported Wednesday, citing a source with direct knowledge of the matter. The transactions were conducted over the counter rather than through the domestic spot foreign-exchange market, according to the report. Neither the Ministry of Economy and Finance nor the Bank of Korea provided a substantive response to AJP by publication time. Inquiries were repeatedly referred among internal departments at both institutions. The authorities did not confirm the reported amount, timing or execution of the transactions. Details including the intermediating financial institutions and exchange rates also remain unclear. The reported purchase represents roughly three-quarters of SK hynix's ADR proceeds. Absorbing the dollars outside the spot market would reduce the amount of corporate dollar supply reaching Seoul at once, limiting the risk of a sharp appreciation in the won from a single large transaction. Reuters said the purchases were intended to reduce foreign-exchange volatility and replenish foreign-currency holdings after earlier efforts to support the won. The won nevertheless strengthened sharply Thursday. The Korean currency closed daytime trading at 1,359.3 per dollar, 9.4 won stronger than Wednesday's close of 1,368.7, putting it near levels last seen in July 2025. Exporter dollar selling has remained a major source of supply, while a softer U.S. currency and a firmer yen have provided additional support in recent sessions. An FESF purchase outside the spot market would have reduced potential dollar selling and slowed the won's appreciation. Continued gains point to additional supply from exporters and shifts in global currency markets. SK hynix's $26.5 billion fundraising had drawn attention from currency traders for months because of uncertainty over how much of the proceeds would ultimately be converted into won. Direct conversion of such a large amount could create a strong one-way flow in Seoul, giving authorities an incentive to smooth the transaction outside the spot market. The report also comes as South Korea's foreign-exchange reserves recorded their largest monthly increase on record in August. Reserves rose $14.33 billion to $442.28 billion at the end of August, the BOK said Thursday. Foreign securities increased $7.07 billion to $387.07 billion, while foreign-currency deposits rose $7.17 billion to $30.30 billion. The BOK attributed the increase to larger foreign-currency deposits by financial institutions, investment income and an increase in the dollar value of assets denominated in other currencies. Publicly available information does not establish whether the reported SK hynix purchase contributed to the August reserve increase or, if it did, by how much. Foreign-exchange conditions have changed sharply since the first half of the year. The won weakened to around 1,550 per dollar in late June, prompting concern over rapid depreciation and demand for dollars. Large exporter and corporate dollar inflows now present a different challenge as the won moves in the opposite direction. Foreign-exchange authorities have generally described their role as limiting excessive volatility rather than defending a particular exchange-rate level. The reported transaction would fit that objective by reducing the market impact of an exceptional corporate dollar flow, although its size and execution remain officially unconfirmed. With the won closing Thursday at 1,359.3 per dollar, traders are watching how much exporter and corporate dollar supply remains and whether importer demand strengthens at firmer won levels. AJP Takeaways South Korean foreign-exchange authorities reportedly bought about $20 billion of SK hynix's $26.5 billion ADR proceeds through off-market transactions, keeping most of the potential dollar flow from reaching the Seoul spot market at once. The won nevertheless closed Thursday at 1,359.3 per dollar, 9.4 won stronger, pointing to additional support from exporter selling and broader global currency moves. Neither the finance ministry nor the BOK provided a substantive response to AJP, while available data do not establish whether the reported transaction contributed to August's record increase in foreign-exchange reserves. 2026-09-03 16:56:27