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  • Train tickets for Chuseok to go on sale this week
    Train tickets for Chuseok to go on sale this week SEOUL, September 2 (AJP) - Early booking for train tickets for Chuseok or Korean Thanksgiving begins this week, KORAIL said on Wednesday. Tickets for KTX bullet trains and other trains for the country's biggest holiday, which falls from Sep. 24 to 27 this year, can be purchased online through KORAIL's website. People aged 65 and older, people with disabilities, pregnant women and those with national merits can reserve tickets online or by phone during the first two days of early booking on Thursday and Friday from 9 a.m. to 3 p.m. For the general public, reservations will be available only online for five days starting next Monday, from 7 a.m. to 1 p.m. Only six tickets may be purchased at one time, up to a maximum of 12 for one person over any time period. But more trains and additional travel options are expected to become available following KORAIL's merger with another high-speed rail operator SR, which was finalized and became effective on the first day of this month. AJP Takeaways • KORAIL will begin early sales of Chuseok train tickets this week for the Sept. 24 to 27 holiday period, with KTX and other train tickets available through KORAIL's website. • People aged 65 and older, people with disabilities, pregnant women and people with national merits can make reservations on Thursday and Friday, while the general public can book tickets online for five days starting next Monday. • KORAIL's merger with high speed rail operator SR, which became effective Sept. 1, 2026, is expected to provide passengers with more trains and additional travel options. 2026-09-02 10:52:24
  • Yoon Gap-geun Loses Defamation Lawsuit Against JTBC Over Yoon Jung-cheon Connection
    Yoon Gap-geun Loses Defamation Lawsuit Against JTBC Over Yoon Jung-cheon Connection Yoon Gap-geun, the former chief of the Daegu High Prosecutors' Office, lost his appeal in a defamation lawsuit against JTBC and its former president, Sohn Suk-hee, as well as the reporters involved. On September 2, the Seoul High Court's Civil Division 13-1 (Presiding Judge Baek Kang-jin, Lee Kyu-hong, and Hwang Jin-goo) overturned the lower court's ruling that had partially favored Yoon, declaring him the loser in the appeal. This decision completely reversed the initial ruling that ordered the defendants to jointly pay 70 million won in damages.The case dates back to March 2019, when JTBC reported that Yoon Jung-cheon, a key figure in the Kim Hak-ui villa sex bribery case, acknowledged his connection with Yoon during an investigation by the Supreme Prosecutors' Office. The report included claims that Yoon had dined and played golf with Yoon Gap-geun multiple times, and that Yoon's driver had previously seen Yoon Gap-geun at the villa.In response to the report, Yoon Gap-geun strongly denied any acquaintance with Yoon Jung-cheon, stating that he had never played golf or dined with him, and subsequently filed a lawsuit seeking over 300 million won in damages against JTBC and others.The initial court ruled in favor of Yoon, determining that the report exceeded the bounds of legitimate media activity aimed at monitoring public officials and constituted a malicious and reckless attack. The court found the testimony of Yoon's driver and the credibility of the investigation report insufficient, concluding that JTBC had failed to verify the facts adequately before disseminating the allegations, thus holding them liable for damages of 70 million won.However, the appeals court reached a different conclusion. It ruled that there was insufficient evidence to establish the falsehood of the report, making it difficult to impose defamation liability. While acknowledging some inappropriate or inadequate aspects of JTBC's reporting process, the court stated that the lack of objective confirmation of the allegations raised during the investigation did not warrant defamation liability against the media.The court emphasized that the report aligned with the media's public interest mission to monitor and critique public officials and the public sector, asserting that there were sufficient and reasonable grounds to raise the allegations. It noted that issues in the reporting process could not easily restrict press freedom and the public nature of the report.Regarding the credibility of the driver's testimony, the court interpreted the discrepancies between the driver's statements during the police investigation in 2013 and the historical investigation in 2019 as a natural phenomenon of memory fading over time.In addition to the JTBC case, Yoon Gap-geun has also pursued a separate lawsuit seeking over 500 million won in damages against officials from the Ministry of Justice's Past Affairs Committee, who publicly announced allegations of collusion involving him. The defendants include Jeong Han-jung, the former acting chair of the committee, Democratic Party lawmaker Kim Yong-min, and former prosecutor Lee Kyu-won, who handled the investigation.The same court upheld the ruling in this case as well, stating that it could not definitively conclude that the committee's investigation and review announcements were false, nor could it impose liability for damages regarding the circumstances under which the investigation details were leaked to the media.* This article has been translated by AI. 2026-09-02 10:48:10
  • Koreas education race costs babies - study
    Korea's education race costs babies - study SEOUL, September 02 (AJP) - South Korea's nascent fertility rebound could get a further boost if parents were freed from the country's relentless competition over children's education, according to an international study that puts a surprisingly large number on the demographic cost of the education arms race. A model calibrated to South Korean households found that women would have had 28 percent more children in the absence of what researchers call a "status externality" in education — the pressure on parents to invest in their children's schooling not simply for its absolute benefits, but to keep them from falling behind other children. For women born between 1970 and 1975, the study estimates average completed fertility would have risen from 1.92 children to 2.45 without that competitive pressure. "The status externality plays an important role in fertility decisions," the researchers wrote, because it pushes up education investment, "which makes children costly and induces parents to have fewer offspring." The researchers' model also points to a potentially provocative policy response, suggesting taxing private education spending and using the proceeds to support families with children. The welfare-maximizing policy for the current generation combined a 22 percent tax on private education investment with moderate pro-natal transfers. Under the simulation, average fertility rose about 11 percent while education spending fell 39 percent. The BOK summary of the research said taxing spending by higher-income households could be particularly effective because their education spending often sets the benchmark that other families feel compelled to follow. The researchers, however, also identified a trade-off. Lower spending on each child's education reduces human-capital investment, meaning a policy that raises the welfare of today's parents could leave future generations with lower human capital and output. The findings were presented Wednesday by Kim Seong-eun of Sejong University at a two-day conference jointly hosted by the Bank of Korea (BOK), the Centre for Economic Policy Research and the Organisation for Economic Co-operation and Development in BOK headquarters in Seoul Wednesday. The research wa co-authored by Yum Minchul, an associate professor of economics at Virginia Commonwealth University and Michèle Tertilt of the University of Mannheim on the causes and implications of ultra-low fertility. BOK Governor Shin Hyun-song in opening the forum under the theme of "Economics of Population Aging and Longevity: From Challenges to Opportunities" stressed that "what is happening in Korea today foreshadows what many other countries will face tomorrow," adding that "demography is not destiny." South Korea's notoriously-low birth rate has seen signs of improvement lately. The country's total fertility rate rose to 0.80 child per woman in 2025 from 0.75 in 2024, marking a second consecutive annual increase after hitting a record low of 0.72 in 2023. The rebound has accelerated this year. The total fertility rate reached 0.88 in the second quarter of 2026, up 0.11 from a year earlier and the highest for a second quarter since 2019. June births surged 15.6 percent from a year earlier to 23,111, while births in the first half climbed 15.4 percent. Whether the trend will last remains uncertain, leaving policymakers searching not only for ways to subsidize childrearing but for structural forces that make Koreans reluctant to have more children. At the center of the researchers' argument is a familiar feature of Korean family life - that parents do not make education decisions in isolation. If one family spends more on private tutoring, cram schools and other education to improve its child's relative position, other families have an incentive to follow. Their additional spending then raises the benchmark for everyone else. The result can resemble an arms race in which individual families behave rationally but collectively spend more than they otherwise would, raising the perceived cost of having each additional child. The underlying paper estimates that a 10 percent reduction in education spending among the richest 15 percent produces roughly a 0.5 percentage-point reduction among the lower half of the income distribution. In other words, poorer parents appeared to spend less when richer parents around them spent less. That is important because the relative burden of Korea's education race is heavier at the bottom of the income distribution. The study found that households in the poorest quintile spent about 8.4 percent of income per child on private education, compared with 5.1 percent among the richest quintile. In the researchers' model, removing the education status externality reduced the childlessness rate among the lowest-income quintile from about 5 percent to less than 1 percent. The effect was large enough to reverse Korea's unusual relationship between income and fertility: poorer households currently have fewer children, whereas in many other countries fertility tends to decline as income rises. The pressure remains visible in more recent data even as Korea's overall private education bill has begun to decline. South Korean households spent 27.5 trillion won ($20 billion) on private education for elementary, middle and high school students in 2025, down 5.7 percent from a year earlier as the student population and participation rate fell. Yet among students who still received private education, average monthly spending rose 2 percent to 604,000 won. For high school students participating in private education, the average reached 793,000 won a month. Some 75.7 percent of all students remained involved in private education. The study also found the Korean pattern was not purely domestic. Using World Values Survey measures, the researchers found countries where parents expressed greater concern over educational competition tended to have lower fertility rates and faster fertility declines, with Korea, Singapore and Chile among the notable cases. The findings point toward a different policy approach from the cash subsidies that have dominated Korea's efforts to raise births. The researchers modeled a combination of taxes on private education investment and child allowances. Their welfare-maximizing scenario for the current generation imposed a 22 percent education investment tax alongside moderate pro-natal transfers. Under that simulation, fertility increased about 11 percent while education spending fell 39 percent. Less spending on each child's education means lower human-capital investment. Although the policy combination improves the welfare of the parents' generation in the model, future generations could end up with lower human capital, output and consumption. That makes the research less a prescription for taxing hagwons than evidence that Korea's fertility problem cannot be understood solely through housing prices, childcare subsidies or cash payments. AJP Takeaways Education competition carries a fertility cost: Removing the "status externality" in the model raised completed fertility by 28 percent, from 1.92 to 2.45 children per woman. Rich households help set the spending benchmark: A 10 percent drop in private education spending among the top 15 percent of earners also reduced spending among lower-income households. The burden falls harder on poorer families: The lowest-income quintile spent 8.4 percent of income per child on private education, versus 5.1 percent for the richest quintile. 2026-09-02 10:47:19
  • SEVENTEENs S.Coups Becomes First Face of Trudon Korea, Graces Allure Digital Cover
    SEVENTEEN's S.Coups Becomes First Face of Trudon Korea, Graces Allure Digital Cover SEVENTEEN's S.Coups has been named the first ambassador for Trudon Korea. As part of his inaugural official engagement, he appears on the digital cover of Allure Korea's October issue, showcasing a photoshoot featuring Trudon's perfumes and candles. According to Allure Korea on September 2, the photoshoot was themed 'S.Coups' Trudon House.' The shoot includes Trudon's Carmen and Medi perfumes, as well as the Abdeslam candle. Trudon is a candle brand that originated in France and has a history of supplying products to royal households. The brand has also been offering perfumes since 2017. In an interview conducted alongside the photoshoot, S.Coups expressed, "I have always been interested in perfumes, so I am delighted to become a Trudon ambassador." Three versions of S.Coups' digital cover have been produced. The photos and interview will be available in Allure Korea's October issue, on its website, and through its official social media channels.* This article has been translated by AI. 2026-09-02 10:44:00
  • Mayor Choi Daeh-ho: Anyangs Smart Administration Aims to Aid Global Cities
    Mayor Choi Daeh-ho: Anyang's Smart Administration Aims to Aid Global Cities Mayor Choi Daeh-ho expressed hope on September 1 that "Anyang's advanced urban management technology and smart administrative capabilities will provide practical assistance in solving issues faced by cities abroad."On that afternoon, Mayor Choi noted that a delegation from the Cambodian Ministry of Interior, led by Secretary of State Touch Visalsok, visited the Anyang Smart City Integrated Center.Choi's experience in smart city operations and his use of advanced information and communication technology (ICT) have garnered attention internationally.This visit was prompted by a request from the Cambodian government to benchmark Anyang's exemplary smart city operations, according to Mayor Choi.The Cambodian delegation received an overview of the center's operations and toured key facilities to observe the smart city policies and practical administrative applications implemented by Anyang.Notably, the delegation was particularly interested in the 'digital twin' urban management system developed in collaboration with local company Naviworks.Digital twin technology creates a three-dimensional virtual representation of a real city, allowing for the analysis and proactive response to various situations that may arise in the actual urban environment.Using this technology, the city predicts flood-prone areas during heavy rainfall and analyzes traffic flow and congestion factors during peak commuting hours, enabling proactive responses to urban challenges in disaster, safety, and traffic management.This proactive approach to smart administration, which utilizes data and advanced technology to anticipate risks and ensure citizen safety, has captured the interest of the Cambodian delegation.After observing the operations, Secretary Touch Visalsok remarked, "I was deeply impressed by Anyang's smart administrative system, which uses three-dimensional virtual spaces to predict and prepare for urban issues. I hope that Anyang's advanced operational experience and IT capabilities will serve as an excellent model for Cambodia's urban development and safety system."Mayor Choi aims to use this visit to share Anyang's smart city policies with cities abroad and to further expand international cooperation.Local citizens have responded positively to the Cambodian delegation's visit to the Smart City Integrated Center.Residents noted that the smart city system established in Anyang is not merely a showcase of advanced technology but is actively used to predict and respond to issues directly affecting citizens, such as flooding and traffic.One citizen stated, "I feel a sense of pride as an Anyang resident knowing that the system built for citizen safety is recognized enough to be benchmarked by foreign governments."Another citizen expressed, "It is encouraging that technology used in our daily lives is being evaluated as a good example abroad. I hope the smart city continues to evolve in ways that enhance citizen safety and convenience rather than remaining just a grand slogan."Meanwhile, Mayor Choi Daeh-ho reiterated, "I hope that Anyang's advanced urban management technology and smart administrative capabilities will provide practical assistance in solving issues faced by cities abroad." He added, "We will continue to engage with cities around the world and expand international cooperation."* This article has been translated by AI. 2026-09-02 10:40:20
  • Janggeum Shipping Denies Ownership of Vessel Attacked in Iran
    Janggeum Shipping Denies Ownership of Vessel Attacked in Iran Two tankers, including one owned by South Korea's Janggeum Shipping (also known as Sinoco), were reported attacked on August 31 while passing through the Strait of Hormuz. In response, Janggeum Shipping stated that the vessel in question is not owned by the company.On September 2, the Korean Shipping Association confirmed through a representative of Janggeum Shipping that the attacked vessel, the 'Senegal Prosperity,' along with five other vessels mentioned in recent articles related to Iran's blacklist, are all 100% owned by foreign shipowners.Janggeum Shipping clarified that its affiliate, Janggeum Maritime, does not hold actual ownership of the recently attacked vessel or the five vessels on Iran's blacklist. The company also noted that there were no Korean crew members aboard the attacked vessel, which was confirmed to be manned entirely by foreign nationals and chartered to an overseas oil company.Meanwhile, the Financial Times reported that maritime security analysts indicated that both the 'Senegal Prosperity,' owned by Janggeum Shipping, and the 'Sidra,' owned by Saudi Arabia, were attacked.* This article has been translated by AI. 2026-09-02 10:40:10
  • President Lee Calls Current Economic Situation a Growth Hurdle from Previous Administration
    President Lee Calls Current Economic Situation a 'Growth Hurdle' from Previous Administration President Lee Jae-myung characterized the current economic situation as a 'growth hurdle' stemming from the previous administration and stated that policy efforts should focus on recovering growth for the time being. He warned that failure to achieve sustained growth could exacerbate polarization and lead to a reduction in welfare, urging understanding of the government's growth-centered policy approach.On this day, President Lee shared an editorial on his X (formerly Twitter) account, emphasizing the need to bolster measures to alleviate polarization in the proposed 820 trillion won budget for the upcoming year. He stated, "For now, we need to concentrate more on recovering growth."He stressed that prioritizing growth does not imply a retreat in welfare policies.President Lee assessed that if the economy remains stagnant at 0% growth or regresses into negative growth, polarization could widen further. He explained that stagnation in economic growth would reduce the government's fiscal capacity, potentially leading to cuts in welfare spending.Regarding the prioritization of growth and welfare, he dismissed the notion that "expanding welfare while giving up on growth is not an option." While he acknowledged that ideally, growth and welfare should be expanded simultaneously, he noted that the current economic conditions make this challenging.President Lee described the current moment as a time to "expand the pie," emphasizing the need to first strengthen the overall growth foundation of the economy. He argued that the fiscal capacity and economic outcomes secured through growth should enhance the sustainability of welfare expansion.He added, "The government is also working to expand welfare, and some have even criticized next year's budget as excessively populist in terms of welfare."President Lee remarked, "While it may be difficult to be satisfied, we are striving to expand welfare. There are even accusations of excessive welfare populism, but it has only been a year, so I ask for a bit more time."* This article has been translated by AI. 2026-09-02 10:40:10
  • POSCO Chairman Jang In-hwa Advocates for Resource Diplomacy in Australia
    POSCO Chairman Jang In-hwa Advocates for Resource Diplomacy in Australia Jang In-hwa, chairman of POSCO Group, attended the 47th Korea-Australia Economic Cooperation Committee (KAEC) annual joint meeting in Adelaide, Australia, on September 2. During the meeting, he proposed enhancing the resource supply chain by combining Australia’s resources with Korea’s advanced technology.The meeting was attended by over 200 officials from both countries, including Australian Foreign Minister Penny Wong, Minister for Trade and Tourism Don Farrell, and Martin Ferguson, chairman of the Australia-Korea Business Council (AKBC).Established in 1979, the KAEC has served as a platform for discussing economic cooperation between the two nations. Participants agreed to use this year, marking the 65th anniversary of diplomatic relations, as an opportunity for a new leap in economic cooperation and emphasized the need to expand collaboration in response to the rapidly changing global supply chain environment.In his opening remarks, Jang stated, "Critical minerals will serve as a new growth axis for industrial cooperation between our two countries, holding greater potential." He highlighted the need to strengthen the supply chain by linking Australia’s abundant resources with Korea’s advanced refining and processing technologies.He also addressed the importance of stabilizing natural gas supply chains and collaborating in renewable energy. Jang urged for an expansion of partnerships into defense, space, and research and development (R&D) sectors, aiming for both countries to become key partners in future advanced industries.During the meeting, cooperation strategies were discussed in three main areas: steel, secondary battery materials, and critical minerals; innovation and R&D; and energy transition and decarbonization.POSCO Group introduced key activities of its Australian Core Resources Research Institute, the first overseas resource-focused research institute of the group, and suggested the need to expand resource cooperation into a technology partnership. POSCO International reported that it is broadening its cooperation scope from traditional resource acquisition to include renewable energy projects.On September 1, the day before the meeting, Jang met with Australian Minister for Industry and Innovation Tim Ayres and Minister for Trade and Tourism Don Farrell to discuss resource cooperation strategies. He also requested support and collaboration from the Australian government to ensure the smooth progress of POSCO Group’s steel, lithium, and energy projects in Australia.Jang also met with Kathleen Conlon, chair of Pilbara Minerals, to discuss expanding cooperation in lithium projects.This initiative aligns with POSCO Group’s 'Triple Core' strategy, which focuses on expanding its business scope in the resource sector, centering on industrial resources like steel, strategic resources like lithium, and energy resources. Australia is a key supplier, accounting for about 70% of POSCO Group’s total raw material procurement.POSCO Group has maintained a cooperative relationship with Australia in steel, secondary battery materials, and energy sectors. Since starting long-term purchases of iron ore in 1971, the group has imported over 1.5 billion tons of Australian raw materials and participated from the early stages in the development of the Roy Hill iron ore mine in 2010.In the secondary battery materials sector, POSCO has been operating a lithium hydroxide production plant in the Yeulchon Industrial Complex in collaboration with Pilbara Minerals. This year, it secured a stake in lithium mines owned by Mineral Resources. In the energy sector, POSCO has been expanding its natural gas business since acquiring Senex Energy in Australia in 2022.Meanwhile, Jang announced in July a new growth strategy for the group, aimed at restructuring its business portfolio around resources, including steel, lithium, and energy, to contribute to national industrial security and supply chain strengthening.* This article has been translated by AI. 2026-09-02 10:40:10
  • Woori Financial Chairman Im Jong-ryong Purchases 5,000 Shares Amid Strategic Moves
    Woori Financial Chairman Im Jong-ryong Purchases 5,000 Shares Amid Strategic Moves Im Jong-ryong, chairman of Woori Financial Group, has purchased 5,000 shares of Woori Financial Holdings on the open market.Woori Financial announced on September 2 that Im made the share purchase on August 24, shortly after completing the full integration of Dongyang Life into the company and officially announcing the merger of Dongyang Life and ABL Life. This move reflects the group's commitment to enhancing corporate value.The share buyback included participation from 56 individuals, including Im, representatives from 16 subsidiaries, and executives from the holding company and major subsidiaries.Woori Financial is pursuing diversified revenue structures through balanced growth in both banking and non-banking sectors. The banking division has executed 91% of its annual loan target for productive finance in the first half of this year. In the non-banking sector, the company completed a capital increase for its securities firm in May and began the integration of Dongyang Life and ABL Life last month.A Woori Financial official stated, "The participation of the group's management in the share buyback demonstrates a commitment to responsible management and support for the stock price. We will implement our value-up plans to address undervaluation and meet market expectations for shareholder returns."Im will also hold an investor relations (IR) meeting for European investors this month, following an IR session for Asian investors in June. He plans to discuss the group's profit-generating capabilities, future management direction, and corporate value enhancement plans. 2026-09-02 10:40:00
  • Xi Jinping Visits Egypt After 10 Years: Key Reasons
    Xi Jinping Visits Egypt After 10 Years: Key Reasons Chinese President Xi Jinping visited Egypt for the first time in a decade. Xi and his wife, Peng Liyuan, arrived in Cairo on the evening of September 1, where they were welcomed by Egyptian President Abdel Fattah el-Sisi and his wife at the airport. The two leaders are scheduled to hold a summit on September 2.In a written statement, President Xi said, "China and Egypt have always cooperated with one heart over the past 70 years of diplomatic relations, achieving mutual benefits." He added that during his visit, he would engage in in-depth discussions with President el-Sisi on bilateral relations, comprehensive cooperation, and international and regional issues.In a local media op-ed, Xi described this visit as a return after ten years. He is expected to reaffirm Egypt's status as a key partner for China in the Middle East and Africa.Additionally, cooperation related to the Suez Canal is anticipated to be strengthened. China has already established the China-Egypt Suez Economic and Trade Cooperation Zone near Ain Sokhna, which has around 200 companies and has attracted over $3.8 billion in investment since its establishment in 2008.As trade barriers against Chinese products rise in the U.S. and Europe, Egypt's value as a production and export hub for China is increasing. Recent investments by Chinese companies in Egypt have expanded into manufacturing, renewable energy, automotive, and satellite and space technology. Reuters noted that Xi's visit is drawing attention to the potential for increased Chinese investment in Egypt and enhanced military cooperation between the two nations.Xi's visit comes at a time of significant upheaval in the Middle East. Following the Gaza conflict, the prolonged tensions surrounding Iran have altered security calculations for Middle Eastern countries. While Egypt has been a long-time ally of the U.S., it is broadening its diplomatic options by strengthening ties with China and Russia. Reuters reported that Egypt receives approximately $1.3 billion in military aid from the U.S. annually but is pursuing strategic autonomy by enhancing relations with China, Russia, and Europe.Egypt is both an Arab and African nation, making it a valuable partner for China's Global South diplomacy. Through Egypt, China is expanding its diplomatic and economic network into the Arab world and Africa.When Xi visited Cairo a decade ago in 2016, China viewed Egypt as a key hub for its Belt and Road Initiative. In 2026, China sees Egypt as a central hub for expanding its economic and diplomatic reach in the Middle East and Africa.* This article has been translated by AI. 2026-09-02 10:36:00