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  • U.S. Control of Venezuelan Oil Could Complicate Chinas Debt Recovery
    U.S. Control of Venezuelan Oil Could Complicate China's Debt Recovery The United States has effectively taken control of Venezuela's oil fields, complicating China's ability to recover its loans.The Donald Trump administration has signed a major oil agreement with Delcy Rodriguez, the Venezuelan government official, which was approved by the Venezuelan parliament on September 1. Under the agreement, North American Blue Energy Partners (NABEP), Venezuela's second-largest private oil company, will receive a 100-year lease on 17 oil fields. These fields contain an estimated 65 billion barrels of oil, surpassing the total proven reserves of the United States, which stands at 46 billion barrels. The U.S. government, through the Department of Defense's Strategic Capital Office, will acquire a 35% stake in NABEP and will receive 20% of the extracted oil at production cost for supply to its refineries.Some of the 17 oil fields were previously managed by China. Since 2000, China has reportedly provided over $100 billion in loans to Venezuela, all secured by oil. The loans are repaid through oil deliveries, and it is estimated that China holds more than $10 billion in outstanding loans.According to the U.S. Energy Information Administration (EIA), Venezuela has proven reserves of 303 billion barrels, making it the world's largest oil producer, accounting for 17% of global reserves. S&P Global reported that in August, about half of Venezuela's daily oil exports of 1.1 million barrels were sent to the United States, with the remainder going to India and the Caribbean. In contrast, China, once the largest buyer of Venezuelan oil, has not imported any in recent months.On September 3, Hong Kong's South China Morning Post reported that Chui Shoujun, a professor at Renmin University of China, stated, "The U.S. has effectively taken control of Venezuela's oil, making it unlikely for China to recover its loans." He noted that PetroChina, a state-owned energy company that had established joint ventures in Venezuela to produce oil for loan repayment, is expected to incur the most significant losses.Dylan Lo, an associate professor at Nanyang Technological University in Singapore, explained that this agreement will result in substantial losses for China. He noted that while China has previously purchased Venezuelan oil at discounted prices, it will now have to negotiate prices in the international market. Additionally, independent Chinese refineries, known as 'teapots,' which have been buying Venezuelan oil under U.S. sanctions, are expected to face margin pressures going forward.Meanwhile, Chinese Foreign Ministry spokesperson Guo Jikun stated during a regular briefing on September 1 that "cooperation between China and Venezuela is protected by international law and the laws of both countries," emphasizing that China's legitimate rights and interests in Venezuela must be safeguarded.* This article has been translated by AI. 2026-09-03 09:00:20
  • Hyundai Motor Group Wins 16 Awards at IDEA Design Awards, Showcasing Design Competitiveness
    Hyundai Motor Group Wins 16 Awards at IDEA Design Awards, Showcasing Design Competitiveness 현대자동차그룹이 세계 3대 디자인 대회에서 글로벌 경쟁력을 인정받았다. 현대차그룹은 ‘2026 IDEA 디자인 어워드’에서 총 16개 상을 받았다고 3일 밝혔다. 금상 2개와 은상 1개, 동상 3개, 본상 10개다. 먼저 현대차의 ‘E3W&E4W 마이크로 모빌리티 콘셉트’와 현대차그룹 싱가포르 글로벌 혁신센터(HMGICS)의 ‘나오 레스토랑 북’은 각각 콘셉트·선행 디자인과 브랜딩 부문에서 최고상인 금상을 받았다. 제네시스 고성능 콘셉트 모델 ‘마그마 GT 콘셉트’는 자동차·운송 부문 은상을 따냈다. 또 자동차와 고객의 추억을 조명한 현대차 헤리티지 브랜드 콘텐츠 ‘현대 헤리티지 스텔라&쏘나타 리트레이스 매거진’과 돌봄·희망이라는 사회적 가치 확산에 기여한 글로벌 소아암 지원 캠페인 ‘호프 온 휠스(Hyundai Hope on Wheels)’는 브랜딩 부문에서 동상을 획득했다. 기아의 PBV 전용 인포테인먼트 시스템인 ‘PV5 인포테인먼트 시스템’은 차량을 단순한 이동 수단을 넘어 디지털 서비스 공간으로 확장하고, 새로운 모빌리티 경험의 가능성을 제시한 점을 인정받아 디지털 상호작용 부문 동상을 받았다. 이 외에도 현대차·기아·제네시스는 다양한 영역에서 본상을 수상하는 성과를 거뒀다. 현대차그룹 관계자는 “제품 디자인을 넘어 브랜드 경험과 디지털 인터페이스, 공간, 서비스, 사회적 가치를 포괄하는 디자인 경쟁력을 입증한 결과”라며 “앞으로도 삶을 풍요롭게 하고 지속가능한 미래를 제시하는 혁신적인 디자인을 선보일 것”이라고 말했다. 한편 현대차·기아는 지난 8월 ‘2026 레드닷 어워드’ 브랜드·커뮤니케이션 디자인 부문에서도 최우수상 2개와 본상 15개를 받았다. 글로벌 디자인 시상식에서 잇달아 성과를 내는 모습이다.* This article has been translated by AI. 2026-09-03 09:00:00
  • LS Electric and KT Cloud Form AI Data Center Partnership to Target Power Infrastructure Market
    LS Electric and KT Cloud Form AI Data Center Partnership to Target Power Infrastructure Market LS Electric is partnering with KT Cloud to target the AI data center infrastructure market. LS Electric announced on September 3 that it signed a memorandum of understanding (MOU) with KT Cloud on September 2 at the LS Yongsan Tower in Seoul. Key executives from both companies, including LS Electric CEO Chae Dae-seok and KT Cloud CEO Kim Bong-kyun, attended the signing ceremony. The agreement aims to promote collaboration in the design and supply of power equipment and the exchange of next-generation technologies in response to the growing trend of larger and more power-intensive AI data centers. LS Electric stated, "We plan to jointly research core power solutions optimized for building modular data centers from the initial design stage." Modular data centers are constructed by precisely manufacturing server rooms, power networks, and cooling modules in factories and assembling them on-site, allowing for reduced construction time and flexible expansion compared to traditional reinforced concrete methods. LS Electric will supply essential power equipment, including high-voltage transformers, gas-insulated switchgear (GIS), and power distribution panels, to the new AI data center being developed by KT Cloud. The company also plans to expand its supply range to include uninterruptible power supplies (UPS) and air conditioning systems. A representative from LS Electric remarked, "As the demand for power surges due to the proliferation of generative AI, high-power infrastructure technology has emerged as a core competitive advantage for data centers. Through our collaboration with KT Cloud, we aim to enhance our responsiveness to next-generation AI data center technologies and strengthen our market dominance."* This article has been translated by AI. 2026-09-03 09:00:00
  • Global Financial Markets React to U.S. and Japan Economic Trends
    Global Financial Markets React to U.S. and Japan Economic Trends Global financial markets exhibited mixed trends amid varying expectations for monetary policy in major economies, geopolitical tensions in the Middle East, and movements in government bond yields. U.S. stocks rose due to declining bond yields and strong performance in artificial intelligence-related stocks, while Japanese and European markets showed weakness. With the likelihood of a rate hike by the Bank of Japan increasing, international oil and gold prices also saw gains.On September 2, the U.S. Standard & Poor's (S&P) 500 index rose 0.46% to close at 7,666.6. In contrast, the European Stoxx 600 index fell 0.24%, and Japan's Nikkei 225 index plummeted by 2.85%.The bond market also displayed differentiation. The yield on the U.S. 10-year Treasury note fell by 2 basis points to 4.78%, influenced by buying interest and dovish comments from Federal Reserve officials. Conversely, the yield on Germany's 10-year bonds rose by 3 basis points to 3.38%, while Japan's 10-year yield increased by 2 basis points to 3.03%.In Japan, concerns about potential interest rate hikes have intensified. Kazuo Ueda, Governor of the Bank of Japan, stated that monetary policy decisions would consider upward risks to inflation. This statement is interpreted by the market as supporting the possibility of a rate hike in September. As Japanese government bond yields reached their highest level in 30 years, the yen appreciated by 0.93% against the dollar on the same day.In Europe, interest rates and fiscal issues have emerged as significant market variables. Key officials from the European Central Bank (ECB) have repeatedly mentioned the possibility of further rate hikes. Additionally, growing concerns over France's fiscal and political instability have widened the gap between the 10-year bond yields of Germany and France to the highest level since 2012.In the commodities market, instability in the Middle East continues to impact prices. Brent crude oil rose by 1.04% to $95.63 per barrel, while gold prices increased by 1.22%. U.S. President Donald Trump has left open the possibility of additional military operations against Iran, heightening geopolitical risks that are influencing oil and safe-haven asset prices.The International Financial Center noted, "The solid performance of major companies in the U.S. and the global economy's relatively high resilience to energy shocks from the Middle East suggest that stock markets may withstand rising bond yields. However, with the intertwining of interest rate hike expectations, fiscal instability, and Middle Eastern tensions, differentiation and increased volatility in global financial markets are expected to continue for the time being."* This article has been translated by AI. 2026-09-03 08:56:00
  • Frieze Seoul Opens with High-Value Sales, International Galleries Report Strong Start
    Frieze Seoul Opens with High-Value Sales, International Galleries Report Strong Start "A strong start."The global art fair Frieze Seoul kicked off with a flurry of high-value sales on its opening day.According to Frieze Seoul, on September 2, a painting by Adrian Ghenie sold for 1.1 million euros (approximately 1.7 billion won), while a sculpture by Antony Gormley found a new owner for 750,000 pounds (about 1.4 billion won). Among Korean artists, several works by Kim Chang-yeul were sold, priced between $180,000 and $1 million (up to about 1.5 billion won).International galleries commented in a press release the night before that "the purchasing power in the Korean market remains strong."Nick Simunovic, managing director of Gagosian, stated, "It was a powerful opening," noting that major works by Damien Hirst were sold to prominent collections. However, Gagosian did not disclose specific prices for individual transactions.James Green, associate partner at David Zwirner, remarked, "The purchasing power in this region is still strong," while Rachel Lehmann, co-founder of Lehmann Maupin, added, "We sold a significant number of works on preview day, with many buyers being Asian, indicating that the Asian art market remains robust."Sales data released by Frieze showed that Thaddaeus Ropac sold Ghenie's painting 'Figure with Funerary Stele' (2026) for 1.1 million euros, marking the highest price disclosed for an individual work on that day. Gormley's cast iron sculpture 'HOLD' (2024) was sold for 750,000 pounds.Thaddaeus Ropac, the gallery's founder, noted, "The fair had a strong start with rapid sales. While many buyers were Korean collectors, there were also collectors from Malaysia, China, and Hong Kong, and some works were sold to European and American collectors."Korean artists also saw active sales. Gallery Hyundai sold several works by Kim Chang-yeul and Lee Seung-taek during their duo exhibition. Kim's works were priced between $180,000 and $1.1 million (up to 1.5 billion won), while Lee's works ranged from $170,000 to $700,000 (up to about 900 million won). Frieze did not disclose specific sales prices for individual works.White Cube sold Gerhard Richter's 'Fuji' for 625,000 euros (about 1 billion won). Two major works by Park Seo-bo also found new owners, with 'Ecriture No.221121' selling for $300,000 (about 400 million won). Another cast iron sculpture by Gormley, 'SMALL CLAIM,' was sold for 250,000 pounds (450 million won).International Gallery sold Ha Chong-hyun's mixed media work 'Post-Conjunction 21-512' (2021) for between $253,000 and $303,600 (up to about 400 million won), while Park Seo-bo's 'Ecriture No.220611' (2022) sold for between $250,000 and $300,000 (up to about 400 million won).Hauser & Wirth sold major works by Louise Bourgeois, Rona Simpson, Jenny Holzer, Jeffrey Gibson, and Ángel Otero for prices ranging from $185,000 to $600,000. At Leeahn Gallery, Lee Kang-soo's acrylic painting sold for 320 million won.Gladstone sold several works by Keith Haring, each priced between $200,000 and $275,000 (approximately 270 million to 370 million won). At Cho Hyun Gallery, seven bronze sculptures by Lee Bae sold for between $40,000 and $140,000 (50 million to 190 million won).David Zwirner sold works by Giorgio Morandi from 1942, as well as pieces by Alice Neel, Luc Tuymans, Ruth Asawa, Dana Schutz, and Michaël Borremans. A new painting by Lucas Arruda was sold to an Asian museum, but the transaction price was not disclosed.Frieze Seoul runs until September 5. 2026-09-03 08:56:00
  • Korea FX reserves gain record Aug, BOK drops ranking table
    Korea FX reserves gain record Aug, BOK drops ranking table SEOUL, September 03 (AJP) -South Korea's foreign exchange reserves stretched in monthly record of $14.33 billion in August amid record-setting trade surplus streak and a stronger won, according to the Bank of Korea which quietly ended a 25-year practice of publishing the country's global reserve ranking. Foreign reserves stood at $442.28 billion at the end of August, up from $427.95 billion a month earlier, the central bank said Thursday. The increase was the largest since the BOK began compiling the data in 1971, surpassing the previous monthly record of $14.29 billion set in May 2009. Reserves rose for a third consecutive month and reached their highest level since May 2022. The BOK attributed the increase to a sharp rise in foreign-currency deposits by financial institutions, investment income and an increase in the dollar-converted value of assets denominated in other currencies. A BOK official said banks appeared to have placed more surplus foreign currency at the central bank after it began paying interest on excess foreign-currency reserves earlier this year. The jump also came after South Korean foreign-exchange authorities reportedly bought about $20 billion in dollars repatriated by SK hynix following its $26.5 billion American depositary receipt offering in the U.S. in July. The purchases were made through the Foreign Exchange Stabilization Fund, jointly managed by the finance ministry and the BOK, as authorities sought to limit currency-market volatility and rebuild foreign-exchange buffers, according to Reuters account. The BOK and finance ministry declined to comment on the transaction. South Korea also posted a record $34.75 billion trade surplus in August as exports surged 68.7 percent from a year earlier to $98.25 billion, led by another record-setting semiconductor shipments. By asset type, securities holdings, the largest component of the reserves, increased $7.07 billion from July to $387.07 billion. Deposits rose $7.17 billion to $30.30 billion. Special drawing rights, or SDRs, increased by $60 million to $15.77 billion, while South Korea's reserve position at the International Monetary Fund rose by $30 million. Gold reserves remained unchanged at $4.79 billion because the BOK values its gold holdings at acquisition cost rather than current market prices. The central bank made no additional gold purchases in August after recently announcing plans to resume purchases by acquiring domestically produced physical gold for export. Despite three consecutive monthly gains, reserves remain below their record $469.21 billion reached in October 2021. The FX data this month accompanied a notable change in the BOK's monthly report. For the first time in 25 years, the central bank removed a table comparing South Korea's reserves with those of other major economies and showing the country's global ranking. The BOK had provided the international comparison since February 2001, when foreign reserves were closely watched as a measure of South Korea's recovery from the 1997-98 Asian financial crisis. Thursday's release omitted the table without prior notice or an explanation in the report. Asked about the change, a BOK official said international rankings can fluctuate for reasons unrelated to a country's underlying external soundness, making them less meaningful as an indicator. South Korea's ranking has swung sharply this year. The country ranked ninth globally at the end of 2025 before slipping to 10th in January and 12th in February. It fell as low as 13th in May before rebounding three places to 10th in June. The BOK has long published foreign reserve data as an indicator of the country's capacity to meet external payment needs and respond to volatility in the foreign-exchange market. The bank denied that it removed the table to avoid negative headlines if Korea's ranking were to fall again since the underlying data remain publicly available through the IMF and individual central banks. AJP Takeaways • South Korea's foreign exchange reserves rose by a record $14.33 billion in August to $442.28 billion, the largest monthly increase since records began in 1971. • Foreign-currency deposits increased by $7.17 billion, while securities holdings rose $7.07 billion. • The BOK removed South Korea's global reserve ranking from its monthly release for the first time in more than 25 years, saying the ranking was not a meaningful gauge of external soundness. 2026-09-03 08:53:27
  • Kumyang Faces Delisting Over False Sales and Audit Interference
    Kumyang Faces Delisting Over False Sales and Audit Interference 2 years after receiving consecutive audit opinions of refusal, Kumyang has been subjected to a delisting decision by the Korea Exchange due to false sales reporting, overstated equity, and interference with external audits. According to the Financial Services Commission on September 3, the Securities and Futures Commission held its 15th meeting the previous day and imposed a three-year audit designation and corrective measures on Kumyang for violating accounting standards in its financial statements. The commission recommended the dismissal of four individuals, including the CEO, and decided on a six-month suspension of their duties. Measures equivalent to dismissal were also approved for former sales executives. The company, its CEO, and former executives will be reported to the prosecution, with three former sales executives also facing prosecution notification. The final decision on fines for the company and its officials will be made by the Financial Services Commission in the future. The investigation revealed that Kumyang falsely recorded sales and cost of goods sold by issuing and receiving false tax invoices without transferring actual inventory assets in 2022. The total amount of false accounting in separate and consolidated financial statements was found to be 10.3 billion won. Issues were also identified regarding the accounting treatment of its Mongolian subsidiary. Despite jointly controlling the subsidiary through a shareholder agreement with its second-largest shareholder, Kumyang was found to have overstated its equity by performing consolidated accounting. In 2023, the overstatement amounted to 77.65 billion won on a separate basis and 61.82 billion won on a consolidated basis. In the second quarter of 2024, the figures were 93.55 billion won on a separate basis and 75.25 billion won on a consolidated basis. It was also confirmed that Kumyang did not reflect impairment losses related to its investment in the Mongolian subsidiary. Despite signs of significant deterioration in the subsidiary's expected operating profit and loss, Kumyang failed to recognize impairment losses, leading to overstated equity. The unrecognized impairment loss as of 2023 was 76.33 billion won on a separate basis and 74.17 billion won on a consolidated basis. Actions to deceive auditors and obstruct audits were also uncovered. During the external audit in 2022, Kumyang colluded with clients to present false transaction evidence and moved inventory to a warehouse to mislead auditors into believing it was company inventory, only to retrieve it afterward. During the Financial Supervisory Service's inspection, Kumyang submitted falsely prepared receipts and falsely stated that inventory was delivered normally and that it did not obstruct the auditor's inventory inspection. Kumyang has already received a delisting decision due to the refusal of audit opinions. The Korea Exchange decided to delist Kumyang's shares on May 20, following a meeting of the Securities Listing and Disclosure Committee, which reviewed the delisting grounds related to the refusal of audit opinions in the 2024-2025 fiscal year audit report.* This article has been translated by AI. 2026-09-03 08:52:00
  • Market Preview: U.S. Treasury Yields Stabilize, New York Stocks Rebound
    Market Preview: U.S. Treasury Yields Stabilize, New York Stocks Rebound U.S. Treasury yields, which had surged recently, stabilized, allowing New York stocks to rebound after three consecutive days of decline. The rise in demand for artificial intelligence (AI) servers boosted Dell's stock, while semiconductor stocks like NVIDIA also contributed to improved investor sentiment. Attention is now on whether the domestic market can recover on September 3, following the easing of U.S. interest rates and the influx of bargain buying in semiconductor stocks.On September 2 (local time), the three major indices on the New York Stock Exchange, which had been on a downward trend for three days, all rebounded. The Dow Jones Industrial Average rose by 0.56%, while the S&P 500 and the tech-heavy Nasdaq Composite increased by 0.46% and 0.45%, respectively.The U.S. 10-year Treasury yield, which had sharply risen recently, peaked at 4.821% during the day, marking its highest level since November 2023. However, it later reduced its gains, trading at 4.793%, down 0.2 basis points (1 basis point = 0.01 percentage points) as of 3 p.m. local time. The yield on the 30-year Treasury remained unchanged at 5.266%, while the 2-year yield fell by 0.8 basis points to 4.383%.Bargain buying in semiconductor stocks also supported the rise in indices. Dell, which raised its annual revenue and profit forecasts based on increased demand for AI servers, surged by 15.81%, leading the market's upward momentum.Major semiconductor stocks also saw gains, with NVIDIA up 3.21%, Micron rising 2.43%, and Qualcomm increasing by 2.01%. SK Hynix's American Depositary Receipts (ADRs) rose by 2.61%, and the Philadelphia Semiconductor Index closed up 0.45%. Broadcom, however, fell by 0.66% despite reporting better-than-expected earnings after the market closed.In this context, there is interest in whether the domestic market can continue its rebound after a sharp decline the previous day. According to NextTrade, as of 8:18 a.m. on September 3, Samsung Electronics was trading at 254,000 won, up 1.40% (3,500 won) from the previous trading day, while SK Hynix rose by 1.67% (27,000 won) to 1,640,000 won.Han Ji-young, a researcher at Kiwoom Securities, stated, "The domestic market is expected to rebound due to the influx of bargain buying following a more than 4% drop the previous day, the stabilization of U.S. 10-year Treasury yields, and the positive impact of Broadcom's earnings surprise."* This article has been translated by AI. 2026-09-03 08:48:00
  • President Lee Defends Property Tax Revisions Amid Criticism
    President Lee Defends Property Tax Revisions Amid Criticism President Lee Jae-myung defended the government's decision to maintain the basic exemption for the comprehensive real estate tax for non-resident homeowners at 12 billion won, amid criticism that this represents a 'regressive reform.' He argued that the entire tax reform plan should be considered. On the night of September 2, President Lee posted on X (formerly Twitter), stating, "There are criticisms about inconsistency and regressive reform." The government had initially planned to lower the basic exemption for mid-priced non-residential single homes to 9 billion won but decided to keep it at the current 12 billion won. The annual limit on the increase in property tax burden was also set to remain at 150%, rather than increasing to 200% as previously proposed. President Lee pointed out that the criticism overlooks changes to property taxes for high-value non-residential single homes and multiple or ultra-high-value properties. He explained that the assessment fails to consider the reduction in capital gains tax exemptions for non-residential single homes and ultra-high-value or multiple homeowners. He stated that only the proposal to raise the property tax burden limit to 200% is just, and maintaining the current 150% cannot be deemed unjust. "It is merely a matter of policy choices that reflect preferences," he emphasized. President Lee urged critics not to focus solely on aggressive claims but to examine the entire tax reform plan. He also called for an analysis of the reasons behind the sharp decline in housing prices in areas like Gangnam. He questioned, "If we had maintained the 12 billion won and 150% from the beginning, would there have been no criticism?" He added, "Although we live in an era of post-truth, I hope we can restore true politics that centers on the nation and its people, competing on what best serves the national interest, rather than engaging in falsehoods, incitement, and unconditional criticism. Proper politics and competition to do well are urgently needed now." On the same day, President Lee shared articles discussing the increase in exports, outlining the government's growth targets. He remarked, "The current export achievements are the result of business leaders, workers, and public officials working together with a unified effort," and described the situation as a 'remarkable transformation' compared to when he took office last year. However, he acknowledged that there is still a long way to go, stating, "We must strive to return to a potential growth rate of 3% and achieve a national income of $50,000." According to the export-related article shared by the president, last month's exports totaled $98.25 billion, a 68.7% increase compared to the same month last year. Exports have exceeded $90 billion for three consecutive months. From January to August this year, cumulative exports reached $693.4 billion, accounting for 97.7% of last year's total annual exports of $709.3 billion. If an additional $306.6 billion is exported in the remaining four months, the annual export figure will surpass $1 trillion for the first time. * This article has been translated by AI. 2026-09-03 08:44:20
  • Daishin Securities Raises Target Price for DB Insurance Amid Dividend Expansion
    Daishin Securities Raises Target Price for DB Insurance Amid Dividend Expansion Daishin Securities announced on September 3 that it has raised its target price for DB Insurance from 200,000 won to 250,000 won, citing the company's newly announced value-up policy and the acquisition of Fortegra, which are expected to enhance profits and shareholder returns. The investment recommendation remains a 'buy.'Park Hye-jin, a researcher at Daishin Securities, stated, "With the acquisition of Fortegra and the newly announced value-up policy, the total return amount for the company is expected to increase. Even with conservative assumptions, the total dividend is projected to rise to 90 billion won in 2027 and 100 billion won in 2028."DB Insurance announced its value-up policy 2.0 following the completion of the Fortegra acquisition. The plan aims to increase the return rate from 35% on a standalone basis by 2028 to 40% on a consolidated basis and 50% on a standalone basis by 2030. The company also plans to raise its dividend per share (DPS) by more than 10% annually.Park noted, "By the end of 2025, the standalone dividend payout ratio is expected to be 29.7%, meaning the return rate will increase by 4% each year until 2030. This represents an annual increase of about 2-3% compared to previous estimates."He also assessed that there is sufficient capacity for dividends. DB Insurance has set its dividend range using the K-ICS ratio and the dividend coverage ratio (DCR), which divides the available profit by the expected dividend. As of the end of June this year, the available dividend resources amount to 2.6 trillion won, and applying Daishin Securities' estimated dividend of 600 billion won for this year results in a DCR of 433%. This exceeds the appropriate range of 200-400%, indicating that additional dividends are possible.Park added, "The company plans to maintain sustainable balanced growth by avoiding excessive competition for new contracts to increase available dividend resources, and the strategy of not expanding new contract competition by more than 20% compared to current levels is also positive." He further noted, "The increase in retention rates has also positively reduced the regular CSM adjustment amount to the 100 billion won range."* This article has been translated by AI. 2026-09-03 08:44:00