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  • Toss Bank Grants Stock Options for the 22nd Time
    Toss Bank Grants Stock Options for the 22nd Time Toss Bank has granted stock options to its employees for the 22nd time, marking the third issuance this year. As a latecomer in the internet banking sector, the bank utilizes stock options as a regular compensation method to attract financial and IT talent and encourage long-term employment.According to the banking sector on September 2, Toss Bank granted stock options for 68,550 common shares to 25 employees on August 31. The exercise price is set at 5,000 won per share. If all options are exercised, the total cost would be approximately 342.75 million won, averaging about 13.7 million won per person.The eligible employees can exercise their options from August 2028 to August 2034, two years after the grant date. Stock options give employees the right to purchase company shares at a predetermined price after a certain period of employment. If the stock value exceeds the exercise price in the future, employees can realize a profit.This marks the 22nd issuance of stock options by Toss Bank, with a cumulative total of 8,107,286 shares granted. Assuming all are exercised at the price of 5,000 won per share, the total exercise value would be around 4.05 billion won.This year, Toss Bank has granted a total of 655,420 shares across three rounds. The total number of employees receiving options adds up to 119. Toss Bank regularly grants stock options to employees who have been with the company for over a year, linking long-term company growth with employee compensation rather than relying on one-time bonuses.Based on the number of grants disclosed, Toss Bank is the most active among the three internet banks in utilizing stock options. Kakao Bank has granted options three times since its launch, while K Bank has done so once. This strategy is seen as a way to address the challenges faced by a latecomer in the competition for financial and IT talent.However, as Toss Bank is a non-listed company, it is currently difficult to determine the market value of the stock options and the expected profits. The actual compensation value for employees will depend on Toss Bank's future corporate value and its potential listing.A Toss Bank representative stated, "We grant stock options to employees who have been with us for over a year to secure talented professionals and boost morale. Our goal is to go public in the medium to long term, but we are not at a stage to disclose specific plans yet." 2026-09-02 15:40:00
  • K Bank Launches New PLCC Hidden Card with Discounts on Payments
    K Bank Launches New PLCC 'Hidden Card' with Discounts on Payments K Bank is introducing a new private label credit card (PLCC) that enhances benefits for online and overseas payments.On September 2, K Bank announced the launch of the 'K Bank Hidden Card' in collaboration with BC Card.The Hidden Card offers a 6% discount on payments made online through Naver Pay, Kakao Pay, and Coupang Pay. Customers can receive discounts of up to 10,000 won per month for spending over 400,000 won, 30,000 won for spending over 1 million won, and 40,000 won for spending over 1.5 million won in the previous month.For overseas transactions, both online and offline, a 2% discount is available without any spending requirements or limits. This benefit applies to both international travel and overseas direct purchases. The discounted payment amounts will also count towards the previous month's spending requirements.Customers can check their card application status, transaction history, discount details, and spending records through the K Bank app. Information can also be accessed via the BC Card Paybook app.The Hidden Card is K Bank's second PLCC, following the 'SIMPLE Card' launched in 2021 in partnership with BC Card. With the introduction of the Hidden Card, new issuances of the SIMPLE Card ceased on September 1. Existing customers can continue to use their cards with the original benefits even after new issuances have ended.A K Bank representative stated, "By enhancing benefits for online and overseas payments and including discounted amounts in the previous month's spending, we have improved convenience for our customers. We will continue to expand card benefits that are easier for customers to utilize."* This article has been translated by AI. 2026-09-02 15:40:00
  • Tugboat Capsizes Off Busan, Two Rescued, Six Missing
    Tugboat Capsizes Off Busan, Two Rescued, Six Missing A tugboat with eight people on board capsized off the coast of Busan.According to Yonhap News and the Busan Coast Guard, the 286-ton tugboat A capsized around 1:29 p.m. approximately 9 kilometers southeast of Oryukdo.There were six South Korean crew members and two foreign nationals aboard the tugboat.One person was rescued by a passing cargo ship, while another was found unconscious and is being transported by the coast guard's rescue vessel.The coast guard reported that the rescue operation is challenging due to strong currents and high waves in the area.Currently, wave heights are between 1 and 1.5 meters, with northwesterly winds blowing at 4 to 6 meters per second.President Yoon Suk Yeol was briefed on the capsizing incident and instructed, "Mobilize all available resources to rescue lives." He also urged for thorough efforts in managing the aftermath of the accident.Prime Minister Han Seung-soo emphasized the need to confirm the identities of those on board and ensure that the Ministry of the Interior and Safety, the Ministry of National Defense, and the city of Busan actively support the rescue operations with available personnel and equipment, while also prioritizing the safety of rescue workers considering the local maritime conditions.* This article has been translated by AI. 2026-09-02 15:36:10
  • Gwangju Mayor Park Kwan-yeol Pledges Proactive Administration
    Gwangju Mayor Park Kwan-yeol Pledges Proactive Administration Park Kwan-yeol, the mayor of Gwangju, expressed on September 2 his commitment to proactive governance, stating, "In the 9th term of the elected administration, I will not wait for citizens to come to us; instead, we will go directly to where they are."On this day, Mayor Park announced the launch of a mobile mayor's office, which will operate a direct bus service where he and relevant officials will visit communities to hear residents' voices and address key issues and inconveniences on-site.This initiative marks the beginning of a strengthened focus on 'field-centered citizen communication administration,' a key direction for the 9th elected term.The 'direct bus mobile mayor's office' is a modified 30-seat vehicle designed as a mobile communication space for citizens.Mayor Park and officials will travel around the region to listen to residents and assess ongoing projects and local concerns directly.Importantly, this initiative goes beyond mere visits or listening to complaints; it emphasizes practical field administration by checking issues identified on-site and collaborating with relevant departments to find solutions.On September 1, the mobile mayor's office visited several locations, including the Paldaeng Fog Park development site, the Gyeongan 2 district urban development site, and the construction site for the Seongnam-Janghowon expressway ramp, to review project progress and gather resident feedback.Mayor Park plans to expand the mobile office's reach to remote areas and locations with lower administrative accessibility, as well as key project sites and areas with citizen complaints.Additionally, issues and suggestions raised by citizens during these visits will be reviewed and addressed by relevant departments, with ongoing management of the processing and outcomes.Through this approach, Mayor Park aims to move beyond 'listening administration' to implement 'solution-oriented field administration' that citizens can truly feel.Mayor Park added, "Through the direct bus mobile mayor's office, I will see things firsthand and communicate directly with citizens to find solutions in collaboration with relevant departments."Meanwhile, the 'direct bus mobile mayor's office' is expected to become a symbolic communication platform for the 9th term of Gwangju's administration, bridging the gap between the city and its residents while seeking answers on-site.* This article has been translated by AI. 2026-09-02 15:32:10
  • Nepal Flood Death Toll Rises to 1,114, Including Tibet
    Nepal Flood Death Toll Rises to 1,114, Including Tibet Last week marked the one-week anniversary of the landslides and floods that struck the Nepal-Tibet border region, with the death toll surpassing 1,100.As of 9 a.m. local time on September 2, reports from international media, including CNN, citing the Nepal National Disaster Risk Reduction and Management Authority (NDRRMA), indicated that the number of confirmed deaths in Nepal rose from 1,050 to 1,114, while the number of missing persons reached 3,916. Including 16 fatalities and 546 missing individuals from Tibet, the total death toll from the landslides and floods in both Nepal and China now stands at 1,130, with 4,462 people unaccounted for.The floods have particularly impacted workers at major hydropower plants in Nepal. The Nepal Independent Power Producers Association reported that 987 workers are currently missing from 11 hydropower plants located in the Bhotekoshi and Trishuli river basins. The Upper Trishuli-1 hydropower project, the largest foreign investment project in Nepal, being constructed by Doosan Enerbility and Korea South-East Power, has been hit hardest, with over 500 workers reported missing from this site alone.In response, Nepal's rescue authorities are focusing their efforts on the hydropower plants. However, many of these facilities are situated in rugged mountainous areas, and the floods have destroyed critical infrastructure, including bridges and roads, hindering rescue operations. Even when rescuers can reach the hydropower plants, they face the challenge of clearing a significant amount of debris from tunnels to reach potential survivors.In an interview with CNN, Nepal's Foreign Minister Shisir Kanel stated that many individuals are believed to be trapped in the tunnels of the hydropower plants, and that the Nepalese military and rescue authorities are doing their utmost to save lives. According to NDRRMA, a total of 11,993 individuals have been rescued so far.The recent floods and landslides were triggered by a glacier collapse in the Himalayas on August 26, which caused debris flows to pour into the river basins along the Nepal-Tibet border. This resulted in significant human and material damage, including the collapse of border checkpoints between China and Nepal. The Nepalese government estimates that recovery costs from the floods will range from $4 billion to $5 billion, a sum that approaches 10% of Nepal's total economic output. 2026-09-02 15:32:10
  • U.S. and Japan Long-Term Interest Rates Surge, Tightening Funding Conditions in South Korea
    U.S. and Japan Long-Term Interest Rates Surge, Tightening Funding Conditions in South Korea Long-term interest rates in the United States and Japan have surged, raising alarms about funding conditions for domestic banks and companies in South Korea. The global bond sell-off has led to rising yields on government bonds, with increased pressure on bank and corporate bond rates. There are growing concerns that companies and financial institutions will face higher costs when refinancing maturing bonds.According to the financial sector on September 2, the yield on U.S. 30-year Treasury bonds has surpassed 5.3%, reaching its highest level in nearly 19 years since 2007. Meanwhile, the yield on Japanese 10-year government bonds has hit 3% for the first time in about 30 years. This rise is attributed to increased government bond supply due to expanding fiscal deficits, inflation concerns, and uncertainties in monetary policy.The increase in global long-term interest rates has also affected the domestic bond market. As of September 1, the yield on South Korean 10-year government bonds was recorded at 4.31%, while the 30-year bonds reached 4.53%. Compared to the 3-year bond yield of 3.84%, the upward pressure on long-term bonds is notably significant.Domestic long-term interest rates are influenced not only by the Bank of Korea's base rate but also by U.S. Treasury yields and global bond supply and demand. Even if the Bank of Korea slows down or freezes its rate hikes, sustained high long-term rates in the U.S. and Japan could continue to push domestic market rates higher.The Bank of Korea's ability to maneuver its monetary policy may also be constrained. In a prolonged period of high global interest rates, lowering rates could lead to a weaker won and increased outflows of foreign capital. Even if the base rate is adjusted, there is a possibility that it may not sufficiently lower long-term funding costs in the market.Rising government bond yields are also impacting the issuance rates of bank bonds, corporate bonds, and asset-backed securities. Banks, companies, credit card firms, and capital companies may have to refinance maturing bonds at higher rates, leading to increased interest costs. The rise in banks' funding costs could result in higher loan rates, further burdening households and businesses.Existing funding costs in the banking sector are also on the rise. According to the Korea Banks Association, the new COFIX (Cost of Funds Index) for July was 3.18%, an increase of 0.13 percentage points from the previous month. This marks four consecutive months of increases and is the highest level since December 2024.Companies with lower credit ratings are particularly vulnerable to rising interest rates. The Financial Supervisory Service reported that in the first half of this year, the issuance of AAA-rated unsecured corporate bonds increased by 20% compared to the same period last year, while issuance of AA-rated bonds fell by 37.3%, A-rated by 40.8%, and BBB-rated by 55.5%. If market interest rates continue to rise, lower-rated companies may delay bond issuance or increase their reliance on short-term funding, exacerbating funding disparities.Kim Dae-jong, a professor at Sejong University’s Business School, stated, “The rise in global long-term interest rates can increase banks' funding costs and loan rates, as well as corporate financing costs, potentially dampening investment and employment. If the rise in long-term rates persists, it could place a burden on both the financial market and the real economy, necessitating proactive measures.” 2026-09-02 15:28:00
  • Prime Minister Han Seung-soo: 25GW Offshore Wind Power by 2035
    Prime Minister Han Seung-soo: 25GW Offshore Wind Power by 2035 한성숙 국무총리는 2일 “해상풍력 계획입지 제도를 차질 없이 안착시켜 해상풍력이 미래 세대의 주력 전원으로 자리매김하도록 하겠다”고 밝혔다.한 총리는 이날 정부서울청사에서 열린 제1회 해상풍력발전위원회에서 “해상풍력은 재생에너지 중심의 에너지 대전환에 필요한 핵심 청정에너지원”이라며 이같이 말했다.한 총리는 “발전량이 주간에 집중되는 태양광을 보완하고 반도체·데이터센터·피지컬 인공지능(AI) 등 3대 메가 프로젝트에 청정 전력을 안정적으로 공급하는 데 중추적인 역할을 할 수 있다”고 강조했다.정부는 2035년까지 25GW 규모의 해상풍력 발전단지를 조성하고, 연간 4GW 이상의 중장기 입찰을 추진할 계획이다. 전용항만 확충과 특수선박 확보를 위한 금융 지원을 이어가는 한편, 15MW급 터빈의 국내 생태계를 조성하고 20MW급 터빈 개발도 준비한다.지난 3월 해상풍력법이 시행됨에 따라 개별 사업자가 입지 발굴부터 주민 협의와 인·허가까지 맡았던 기존 방식은 정부 주도의 계획입지 체계로 전환된다. 이날 위원회에서는 계획입지 도입 방안이 처음으로 공식 논의됐다.한 총리는 “위원회가 좋은 입지를 발굴하고 지역사회와 상생하면서 보급 확대와 비용 절감, 산업 경쟁력 강화를 함께 이끄는 실질적인 구심점이 되길 기대한다”고 말했다.민간위원장인 김범석 위원장은 “계획입지 제도가 현장에 안착하면 사업자의 불확실성을 줄이고 지역사회에는 새로운 미래 먹거리를 제공해 해상풍력 보급을 앞당길 수 있을 것”이라고 밝혔다. 2026-09-02 15:28:00
  • Kim Sung-soo, Supreme Court Justice Nominee, Allegedly Evaded Gift Tax
    Kim Sung-soo, Supreme Court Justice Nominee, Allegedly Evaded Gift Tax Allegations have emerged that Kim Sung-soo, a nominee for the Supreme Court, evaded gift tax while residing in a high-priced apartment in Gangnam, Seoul, at a significantly lower deposit than market value.On September 2, lawmaker Joo Jin-woo of the People Power Party claimed to have found evidence suggesting that Kim received considerable financial advantages from relatives, leading to tax evasion, based on an analysis of Kim's asset declarations, residency records, and real estate registration documents.According to Joo, Kim lived in a 25-pyeong apartment in Yeoksam-dong, Gangnam, owned by his brother-in-law, from February 2011 to June 2021, paying a deposit of 350 million won. At that time, the actual rental price for that size apartment ranged from 400 million to 430 million won in February 2011 and from 700 million to 1.15 billion won in June 2021, according to the Seoul Real Estate Information Plaza.In June 2021, Kim moved to a larger 43-pyeong apartment in the prestigious Dogok Lexel complex in Dogok-dong, where he continues to reside. However, despite the significant increase in size, the reported rental deposit remained the same at 350 million won. The actual rental price for the 43-pyeong unit was between 1.2 billion and 2 billion won in June 2021, and is currently estimated at 1.6 billion to 1.9 billion won for the third quarter of this year.Joo stated, "Living in a Gangnam apartment for 15 years while maintaining a deposit below 350 million won indicates substantial financial benefits received from relatives. The difference from market value is subject to gift tax under the law."He added, "It is unacceptable for a judge to evade gift tax worth millions of won while enjoying preferential housing. If the nomination proceeds, it will deal a severe blow to the administration's morality."Previously, President Lee Jae-myung submitted a nomination request to the National Assembly on August 31, stating that Kim's reported assets, including those of his spouse, children, and mother, total approximately 580 million won.Kim reported a leasehold for the Dogok apartment valued at 350 million won and land in Hampyeong, Jeollanam-do, and Gochang, Jeollabuk-do, worth 20.22 million won. His children are believed to hold stocks and deposits worth several hundred million won in companies such as Samsung Electronics and Hanwha Ocean.In the nomination request, President Lee described Kim as a "traditional judge skilled in practical trial work, possessing extensive legal knowledge and making fair and rational decisions that ensure the public's right to seek justice." He noted that Kim has earned deep trust from litigants by striving for procedural satisfaction and the discovery of substantive truth.Kim, originally from Hampyeong, graduated from Hanyang University with a degree in law and passed the 34th Judicial Examination, completing his training in the 24th class. He was appointed as a judge at the Gwangju District Court in 1998 and has since served as a presiding judge at the Seoul High Court, an ethics audit officer at the Court Administration Office, and a chief professor at the Judicial Research and Training Institute.In January of this year, he sentenced defendants involved in a court disturbance following the issuance of an arrest warrant for former President Yoon Seok-yeol, calling their actions "unconstitutional acts that obstructed constitutional roles."Chief Justice Cho Hee-dae nominated Kim Sung-soo and Son Bong-ki as candidates to succeed former Justices Roh Tae-ak and Lee Heung-gu on August 18. However, the Blue House has requested a re-nomination for Son, citing procedural completeness.The ruling and opposition parties are set to form a 13-member special committee for the confirmation hearing, led by the People Power Party, to begin the verification process.* This article has been translated by AI. 2026-09-02 15:24:10
  • BJ Gajuseyeon Addresses Drug Allegations After Hair Color Change
    BJ Gajuseyeon Addresses Drug Allegations After Hair Color Change Popular BJ Gajuseyeon (real name In Se-yeon, 26) has addressed allegations of violating drug control laws during a live broadcast.On September 1, Gajuseyeon appeared on the SOOP internet broadcast and joked, "Did you see the article? I brought one to keep you entertained."He denied the allegations of drug use, stating, "The issue arose from me taking a sleeping pill prescribed to my boyfriend (BJ Kay)." He also clarified that he did not obtain the prescription on Kay's behalf.Gajuseyeon explained, "After an incident with my boyfriend, I took his medication, which led to a visit to the emergency room where the issue was revealed, resulting in a police investigation."During the broadcast, he appeared with a new short, bleached hairstyle. When viewers questioned the change, he responded, "This is unrelated to the police investigation. I was already under investigation when I had black hair and submitted 100 hair strands for testing."He displayed a message on the broadcast screen stating, "I did not use drugs. I did not obtain a prescription on behalf of anyone. I was investigated before bleaching my hair. I apologize for causing concern."During the broadcast, Kay also made an appearance and gifted approximately 1.25 million won worth of 'star balloons.'Earlier, the Gangnam Police in Seoul announced on July 30 that they had charged Gajuseyeon and Kay with violations of drug control laws. Kay is also accused of having someone else obtain a prescription for sleeping pills, which he then received. He acknowledged this fact during a personal broadcast on August 27.Kay began his internet broadcasting career in 2012 and has over 706,000 subscribers on his YouTube channel. Gajuseyeon, who has been active since 2019, gained recognition for her appearance on the Netflix original show 'The Influencer.' She also drew attention in 2024 when she was spotted with Bang Si-hyuk, the chairman of HYBE, in Beverly Hills, Los Angeles.* This article has been translated by AI. 2026-09-02 15:24:00
  • Korea Eximbank Shares Policy Finance Insights with 29 Countries
    Korea Eximbank Shares Policy Finance Insights with 29 Countries The Korea Eximbank has strengthened its financial diplomacy by sharing its policy finance experiences with foreign government officials.On September 2, the Eximbank hosted a 'Policy Finance Briefing' at its headquarters in Yeouido, Seoul, inviting participants from the Global Leadership Program (GLP) of the KDI School of Public Policy and Management. The GLP was launched in 2010 in conjunction with the G20 summit held in Seoul.The briefing was attended by 34 government officials responsible for finance, diplomacy, and industrial policy from 29 countries, including Argentina, Australia, Indonesia, and Brazil, all G20 members.During the event, the Eximbank introduced its roles and functions, explaining topics such as export finance, supply chain cooperation for critical minerals, and investment financing systems and support cases. The bank particularly highlighted examples of using its financial products to support infrastructure development and stabilize supply chains in emerging markets, engaging attendees in a question-and-answer session.A representative from the Eximbank stated, "This was a meaningful opportunity to share our policy finance experiences with key personnel from foreign governments. We will continue to strengthen our role as a financial diplomacy hub connecting Korea and the world." 2026-09-02 15:20:10