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  • K-Books Expand into U.S. Market at New York Book Fair
    K-Books Expand into U.S. Market at New York Book Fair The South Korean government is promoting K-books in the U.S., the world's largest publishing market.The Ministry of Culture, Sports and Tourism and the Korea Publishing Culture Industry Promotion Agency announced that the 'Traveling New York Book Fair' is taking place from September 2 to 3 at the NYC Seminar and Conference Center.Since 2015, the 'Traveling Book Fair' has supported export consultations between domestic publishers and local buyers in 3 to 5 countries each year. Last year, consultations in five countries resulted in 1,045 export consultations, generating approximately $17.66 million in export revenue.This year, export consultations will be held in Vietnam, Thailand, Taiwan, the U.S., and Italy. During last year's New York consultations, 252 meetings were held, resulting in consultations worth over $7.5 million. This year, the fair aims to explore opportunities for copyright exports and the expansion of publishing intellectual property (IP) through discussions with key local publishing and rights representatives.Fifteen domestic publishers, including Gloyeon, Story Flower, Dasan Books, MiraeN, Jasim and Moem, and Cake Co., are participating in the event to conduct consultations. They will also facilitate consultations for 101 consigned books.In the U.S., 40 companies are participating, including major global publishing groups, independent publishers, specialized publishers, and literary agencies. Notable participants include 'Penguin Random House,' 'HarperCollins,' and 'Simon & Schuster,' as well as 'Grand Central Publishing' from the Hachette Book Group.On September 2, a seminar will feature Barbara Zitwer, a first-generation literary agent who successfully introduced Korean literature abroad with works like 'The Vegetarian' by Han Kang and 'Please Look After Mom' by Shin Kyung-sook. She will present on 'Global Success Strategies for Korean Content: Opportunities for Growth in the U.S. Publishing Market.'Korean publishing content is expanding beyond literature in the U.S. market to include graphic novels and adaptations of publishing IP into visual media. According to U.S. market research firm 'Sakana BookScan,' ten print editions of the Korean web novel and webtoon-based graphic novel 'Solo Leveling' (by Chugong) have entered the annual sales rankings within the top 20.Contracts for adaptations of Korean novels such as 'A Thousand Blue' (by Cheon Seon-ran), 'Hole' (by Pyeon Hye-young), 'The Origin of Species' (by Jeong You-jeong), and 'The Designers' (by Kim Eon-soo) are also actively being signed, making this consultation a significant opportunity to promote the secondary adaptation of Korean publishing IP.* This article has been translated by AI. 2026-09-02 10:20:10
  • MUSINSA STANDARD Sees 7-Fold Growth in Japan Sales in First Half of 2026
    MUSINSA STANDARD Sees 7-Fold Growth in Japan Sales in First Half of 2026 MUSINSA's casual wear brand, MUSINSA STANDARD, is expanding its presence as a leading K-fashion brand in the Japanese market. Following a significant increase in local sales, the brand continues to grow through new customer acquisition and expanded purchases.On September 2, MUSINSA reported that its sales in Japan for MUSINSA STANDARD increased nearly sevenfold compared to the same period last year.In August, over 40% of first-time customers at MUSINSA's global store in Japan purchased MUSINSA STANDARD products, establishing the brand as a key player in attracting new customers.During the same period, 61% of customers who bought MUSINSA STANDARD products also purchased items from other brands available in the global store. The company noted that MUSINSA STANDARD is not only leading Japanese customers into K-fashion but also connecting them with a variety of domestic designer brands.The brand's growth has also been supported by consistent efforts to create direct experiences in Tokyo. MUSINSA STANDARD held three pop-up stores from October last year to August this year, each showcasing different concepts and product assortments.From August 21 to 30, the 'MUSINSA Station in Harajuku' event featured the 26FW campaign 'Seoul Standard,' linking the latest fashion trends from Seoul with representative products. Key items such as blazers and slacks ranked among the top sellers during the pop-up, leading to increased purchases from local customers.In August, MUSINSA also launched a 'speed delivery' service for select MUSINSA STANDARD products, allowing customers to receive their orders within 2 to 3 days after placing them, thanks to pre-stocked items at a local logistics center. In the three weeks following the service's introduction (August 3-24), sales of MUSINSA STANDARD products more than tripled compared to the same period last year.A MUSINSA representative stated, "The growth in Japan demonstrates the potential for MUSINSA STANDARD to become a competitive K-fashion brand in the global market. We will enhance our brand competitiveness based on our understanding of local customers and markets while strengthening our role as a leading brand in expanding the customer base for K-fashion."Meanwhile, MUSINSA recorded its highest-ever performance in the first half of this year, with overseas exports reaching 37.2 billion won, more than nine times higher than the same period last year.* This article has been translated by AI. 2026-09-02 10:20:00
  • Olive Young Expands K-Beauty Presence with New Stores in Busan
    Olive Young Expands K-Beauty Presence with New Stores in Busan CJ Olive Young has opened the largest non-capital town store and a design-specialized store in Busan, aiming to expand its K-Beauty presence. The company plans to develop Busan as a global shopping hub in response to the increasing number of foreign tourists visiting South Korea.On August 28, Olive Young relocated its largest non-capital town store, 'Olive Young Nampo Town,' in Nampo-dong, Jung-gu, and on August 30, it opened the design-specialized store 'Olive Young Millak Market' in Minrak-dong, Suyeong-gu.The company is focusing on making Busan a key K-Beauty hub outside the capital, with 3.1 million foreign tourists visiting the city last year, the highest among non-capital cities. In the first half of this year, the number of visitors increased by 43.9% compared to the previous year, reaching 2.42 million. Notably, cruise tourism has surged, with the number of cruise tourists expected to quadruple from 257,000 in 2025 to 990,000 this year.The Millak Market store features a design inspired by a fictional ship named 'Ol-Youngho' docked at Minrak Port. The store's layout evokes the lively atmosphere of a seafood market, incorporating views of the Gwangandaegyo Bridge and Minrak Port into its design. The color and food displays create a market-like ambiance, and bulk product displays differentiate it from traditional stores.To cater to the lifestyles of the 2030 generation and global tourists, the store enhances its offerings beyond K-Beauty to include food and beverage curation. It is the first Olive Young store to introduce freezers and has extended its hours until 11 p.m. to accommodate late-night visitors, featuring snacks, inner beauty, and wellness products.The Nampo Town store has expanded from a single-story space of 200 pyeong to a four-story store covering 900 pyeong, making it the largest non-capital town store. It was designed based on the model of the representative global specialized store, 'Central Myeongdong Town,' incorporating data on foreign customers into its layout and operations.For the first time in a non-capital area, three beauty consultants will provide skin diagnostics and personalized consultations. The store also features an 'Advanced Derma Specialized Zone' and a 'Mask Pack Library,' catering to the interests of foreign tourists. To enhance convenience for foreign customers, popular products will be prominently displayed, and staff will be concentrated during peak hours for cruise tourists.Olive Young plans to continue expanding anchor tenant stores in regions with increasing foreign tourist traffic, including Jeju, Gangwon, Gyeongsang, and Jeolla, aiming to establish K-Beauty landmarks nationwide.An Olive Young representative stated, "Busan, where global tourists gather, is one of the key stages for leading the globalization of K-Beauty. We will strive to establish ourselves as a shopping landmark representing K-Tourism outside the capital by combining the characteristics of local commercial districts with customer data for offline innovation."Meanwhile, Olive Young is operating stores designated as 'Olive Young Global Tourism Districts' in areas frequented by foreign tourists.* This article has been translated by AI. 2026-09-02 10:16:00
  • Dongyang Life and ABL Life Prepare for Merger with AI Training for Executives
    Dongyang Life and ABL Life Prepare for Merger with AI Training for Executives Dongyang Life and ABL Life, subsidiaries of Woori Financial Group, are accelerating preparations for their upcoming merger by conducting artificial intelligence (AI) training for their executives.On September 1, the two companies held an 'AI Agent Creation Practical Training' session at Dongyang Life's headquarters in Jongno-gu, Seoul, attended by 30 executives from both firms.The training was designed to enhance the AI capabilities of the management team ahead of the transition to an 'AI Native' integrated company. It involved not only learning about AI technologies and trends but also required executives to design and implement AI agents and identify tasks for applying them in their respective roles.This training is particularly significant as it translates the AI-based business innovation direction presented at the '2026 Second Half Leaders Change and Innovation Forum' held by Dongyang Life in July into actionable steps. During that forum, discussions covered AI application strategies across all sectors, including sales and products, investment and finance, risk management, IT, operations, and consumer protection.The two companies plan to establish an environment where AI can be integrated into daily operations to enhance the efficiency of the merged entity.A Dongyang Life official stated, "The future AI competitiveness of the integrated company will depend more on how quickly our members can adapt their work processes to utilize AI effectively, rather than just on the number of new technologies adopted. We will continue to identify and expand practical AI use cases across all operations."* This article has been translated by AI. 2026-09-02 10:16:00
  • Toss Payments Partners with Korean Bar Association to Launch Payment Service for Law Firms
    Toss Payments Partners with Korean Bar Association to Launch Payment Service for Law Firms Toss Payments announced on September 2 that it has partnered with the Korean Bar Association to offer a member-exclusive payment service for law firms and legal offices affiliated with the association.The service is tailored to the needs of legal offices, allowing clients to pay fees through a payment link sent via text message or notification without needing to visit the office in person.For clients who are not comfortable using digital devices, payments can also be facilitated through phone consultations with staff at the law office.Additionally, law offices can use both desktop payment systems and portable devices for consultations, enabling them to manage all payment records on a single screen.The service also offers payment benefits for members of the Korean Bar Association, including a reduction of card payment fees by more than 1 percentage point and waiving of membership and annual fees. Clients can benefit from the option to pay fees in installments over a period of up to 12 months without interest.A representative from Toss Payments stated, "Legal services often involve significant amounts and require trust, so a convenient and secure payment experience is essential. This partnership aims to alleviate the hassle of the payment process for both lawyers and clients."* This article has been translated by AI. 2026-09-02 10:12:20
  • Dunamu Receives Customs Commissioner Award for Cooperation in Digital Asset Crime Investigations
    Dunamu Receives Customs Commissioner Award for Cooperation in Digital Asset Crime Investigations Dunamu, the operator of the digital asset exchange Upbit, announced on September 2 that its employees were awarded the 56th Customs Commissioner Award for their contributions to investigations into new trade crimes involving the misuse of digital assets.The Customs Service annually recognizes individuals who have contributed to the advancement of customs administration and the establishment of national economic order on its anniversary.This year, the award acknowledged the efforts of Dunamu employees who participated in technical support and investigative cooperation during crackdowns on illegal foreign exchange transactions and trade crimes involving digital assets.The recipients of the award are So Min-seop, head of Dunamu's Financial Data Intelligence (FDI) team, and Kim Sung-yong, a researcher in the FDI team. They have provided technical support and expert advice to the Customs Service in tracking illegal foreign exchange transactions and the movement of criminal proceeds.In particular, they collaborated to enhance the Customs Service's digital investigation capabilities by analyzing key cases related to digital assets and sharing practical crime analysis know-how with Customs officers and staff.So Min-seop stated, "In a situation where crimes exploiting digital assets are becoming increasingly sophisticated, it is meaningful to contribute to establishing a sound financial and trade order through cooperation with the Customs Service. We will continue to strengthen professional technical support and public-private collaboration to enhance the transparency and safety of the digital asset ecosystem."* This article has been translated by AI. 2026-09-02 10:12:10
  • SK Biopharm Acquires 128 NVIDIA B200 AI Accelerators for Drug Development
    SK Biopharm Acquires 128 NVIDIA B200 AI Accelerators for Drug Development SK Biopharm has secured a large-scale AI computing infrastructure by acquiring 128 of NVIDIA's latest AI accelerators, the B200. The company plans to develop AI models specifically for drug discovery and accelerate the overall AI transformation in its research. On September 2, SK Biopharm announced the introduction of 128 B200 units based on NVIDIA's Blackwell architecture. The computational performance of these units reaches 576 petaflops (PFLOPS) based on FP8 standards, equivalent to approximately 0.58 exaflops. This infrastructure was obtained through a cloud subscription model via a data center cluster called 'Haein,' built by SK Telecom. The high-performance GPUs will enable faster development and operation of AI models tailored to research objectives and data characteristics. SK Biopharm intends to focus the computational resources on enhancing its 'TR-AX' (Translational Research-AI Transformation) initiative. TR-AX aims to integrate AI into translational research, linking preclinical findings to clinical outcomes and enhancing the value of candidates in preclinical and early clinical stages. The company plans to apply foundation models specialized in biopharmaceuticals and healthcare to real research, improving analytical capabilities regarding diseases, targets, and compounds. AI utilization will be expanded throughout the drug development process, from candidate discovery to research decision support. In addition to research, SK Biopharm will establish a dedicated large language model (LLM) for internal operations. This initiative aims to shorten the research cycle involving experiments, analysis, and retraining, thereby enhancing productivity and decision-making efficiency. SK Biopharm also plans to open its AI infrastructure for collaborative research with external companies, research institutions, and universities. This approach aims to broaden the scope of its AI research platform, supporting open innovation and collaboration between industry and academia. The company is also considering commercialization strategies for its AI infrastructure and technology. Plans include expanding collaborative research and strategic partnerships, with a long-term goal of developing new business models such as AI-based research services. Lee Dong-hoon, President of SK Biopharm, stated, "A large-scale in-house AI infrastructure is a key foundation that will determine our future competitiveness in drug development. Based on the B200 infrastructure, we will further strengthen TR-AX and maximize AI utilization throughout the drug development process to enhance research and development speed and efficiency." Recently, SK Biopharm secured global exclusive development and commercialization rights for 'Opacalim' from the U.S. biopharmaceutical company Biohaven. The deal is valued at up to $795 million, including upfront payments and milestone payments tied to development and approval stages, with an upfront payment of $400 million. As SK Biopharm shifts from a growth structure centered on Cenobamate (marketed as Xcopri) to actively pursuing a second blockbuster drug, key executives have demonstrated confidence in the next growth strategy by purchasing company shares. Following the announcement of the Opacalim acquisition, President Lee purchased 2,000 shares of the company on August 27, at an average acquisition price of 90,898 won, totaling approximately 180 million won. This increased his holdings from 3,000 shares to 5,000 shares.* This article has been translated by AI. 2026-09-02 10:12:00
  • Apple Follows Trumps Lead, Renaming Lake Ontario to Lake America
    Apple Follows Trump's Lead, Renaming Lake Ontario to 'Lake America' President Donald Trump has issued an executive order to rename Lake Ontario, located between Canada and the United States, as 'Lake America.' In response, Apple has updated its maps to reflect this change. Following Google, Apple is now using the name 'Lake America' on its maps for users in the U.S., continuing the naming dispute between the two countries.According to the Wall Street Journal on September 1, Apple has begun displaying Lake Ontario as 'Lake America' on its maps for U.S. users.Previously, Google also changed the name of Lake Ontario to Lake America in its mapping service. However, Google Maps displays different names based on the user's location: 'Lake America' in the U.S., 'Lake Ontario' in Canada, and both names in regions outside the U.S. and Canada.Both Apple and Google are updating their map names based on the U.S. Geological Survey's Geographic Names Information System (GNIS).Trump's recent executive order comes amid ongoing trade tensions between the U.S. and Canada. Canada has expressed strong opposition to the unilateral renaming by the U.S.Lake Ontario is one of the Great Lakes situated between Ontario, Canada, and New York, U.S. It has long been known as 'Lake Ontario' in both countries.Canadian officials have made it clear that they will not accept the U.S. renaming. Ontario Premier Doug Ford stated, "Lake Ontario has been known as Lake Ontario for hundreds of years, and it will continue to be called that."Canada has also taken symbolic action against the renaming. On August 29, Ontario installed a large sign by the lakeshore reading, 'Lake Ontario. Now and Always.'According to the Associated Press, the sign measures 24 feet wide and 12 feet tall, mounted on a 6-foot support, making it roughly the height of a two-story building.In a video unveiling the sign, Ford remarked, "Long after President Trump has left the White House, this will still be known as Lake Ontario."Canadian Prime Minister Mark Carney has also affirmed the commitment to the name Lake Ontario, arguing that it predates both the founding of Canada and the U.S. Declaration of Independence, dismissing the U.S. renaming request.The dispute over the lake's name symbolizes the ongoing tensions between the U.S. and Canada amid trade conflicts, with the U.S. adopting 'Lake America' in its mapping services while Canada firmly asserts its claim to 'Lake Ontario' with large signage. 2026-09-02 10:12:00
  • Yang Kyung-sook Sentenced to 5 Years for Investment Fraud Linked to North Korean Mask Project
    Yang Kyung-sook Sentenced to 5 Years for Investment Fraud Linked to North Korean Mask Project Broadcast personality Yang Kyung-sook, who previously served as the head of programming at Internet radio station Radio 21, has been sentenced to five years in prison for investment fraud amounting to approximately 3.3 billion won (about $2.5 million).According to legal sources on September 2, the Supreme Court's first division, led by Justice Seo Kyung-hwan, upheld the lower court's five-year sentence for Yang, who was charged with violating the Specific Economic Crimes Act (fraud).Yang was indicted for deceiving seven victims between December 2020 and March 2022 by promising guaranteed profits from the sale of North Korea's Daedonggang beer. This scheme, referred to as the 'Jangmadang Project,' involved using the sales revenue to purchase masks for North Korean compatriots.She assured investors that she had received approval from the Ministry of Unification and promised a profit margin and minimum returns for each mask sold. However, the business was found to be non-existent, and the investment funds were used for debt repayment, credit card bills, and cryptocurrency purchases. Yang fled abroad when the investigation began but was later apprehended in China as an illegal resident.In November of last year, the first trial sentenced Yang to six years in prison. The court noted that she had a history of two previous convictions for fraud and had continued to flaunt her connections with political and media figures, indicating a high likelihood of reoffending.In February of this year, the appellate court reduced her sentence to five years, taking into account that Yang had reached a settlement with some of the victims.Despite the appellate ruling, Yang filed an appeal, but the Supreme Court rejected it, affirming the lower court's decision.Additionally, Yang was previously convicted in 2013 for receiving large sums of money as campaign contributions from proportional representation candidates of the Democratic United Party, resulting in a three-year prison sentence. In 2015, she was also sentenced to two years in prison for a separate forgery case.* This article has been translated by AI. 2026-09-02 10:08:00
  • S. Korea denies Korea-owned tanker hit in Hormuz
    S. Korea denies Korea-owned tanker hit in Hormuz SEOUL, September 02 (AJP) - A tanker struck by rockets in the Strait of Hormuz was not owned by South Korea's Sinokor Merchant Marine and had no Korean crew aboard, a South Korean shipping industry group said Wednesday, disputing an earlier Financial Times report that described the vessel as South Korean-owned. The Korea Shipowners' Association said in a statement that the Senegal Prosperity, which was recently attacked while transiting the strategic waterway, was wholly owned by a foreign shipowner and that Sinokor had no beneficial ownership of the vessel. “According to information confirmed through a Sinokor official, the Senegal Prosperity, which was attacked yesterday, is 100 percent owned by an overseas shipowner, and Sinokor Maritime does not hold beneficial ownership of the vessel,” the association said. It added that there were no South Korean nationals among the crew. “The vessel had no Korean crew members aboard, and the entire crew consisted of foreign nationals,” the association said, adding that the tanker had been sub-chartered to an overseas oil company. The clarification follows an FT report that two oil tankers were hit in the Strait of Hormuz on Monday night, identifying them as the Senegal Prosperity, which it described as owned by South Korea's Sinokor, and the Saudi-owned Sidr. The FT cited maritime security analysts and cautioned at the time that poor communications in the Gulf had made it difficult to formally verify the ships' identities. A government source earlier gave AJP a similar account of the ownership arrangement. “Sinokor chartered the vessel from another shipping company and then sub-chartered it to another operator,” the source said. “So, based on what we have found so far, it is not a South Korean vessel.” The Ministry of Oceans and Fisheries has separately said the Senegal Prosperity is Liberian-flagged, is not registered as a South Korean vessel and carried no Korean crew members. The attack came amid renewed U.S.-Iran fighting after U.S. forces on Sept. 1 struck Iranian Revolutionary Guard Corps targets, including air defense sites, radar systems, maritime assets and mine-laying capabilities. Washington said the strikes followed recent IRGC attempts to attack commercial shipping in the Strait of Hormuz and U.S. forces, while Tehran has also carried out attacks on American military targets in the region. The party responsible for striking the Senegal Prosperity has not been identified. AJP Takeaways · Senegal Prosperity is foreign-owned, not Sinokor-owned, a Korean shipping group said. · No South Korean crew were aboard the Liberian-flagged tanker. · The attacker remains unidentified amid renewed U.S.-Iran clashes. 2026-09-02 10:05:33