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  • Consumer Prices Rise 3.1% in August Amid Service and Industrial Price Increases
    Consumer Prices Rise 3.1% in August Amid Service and Industrial Price Increases Consumer prices rose by 3.1% in August, marking a return to the 3% range after a month. While prices for agricultural, livestock, and fishery products decreased, the prices of services and industrial goods continued to rise. A significant increase in mobile phone fees, attributed to a base effect from last year's discounts, contributed to the overall inflation rate. Excluding volatile items, core inflation also surged to the mid-3% range.According to the National Data Agency's 'Consumer Price Trends for August 2026' released on September 2, the consumer price index reached 120.05 (2020=100), reflecting a 3.1% increase compared to the same month last year. After recording 3.1% in May and 3.2% in June, the inflation rate dropped to 2.8% in July but rebounded to the 3% range after two months. Month-over-month, prices rose by 0.2%.By category, prices for agricultural, livestock, and fishery products fell by 2.6% compared to the same month last year, influenced by increased supply and government discount events. However, some frequently purchased items, such as rice (6.2%), mackerel (6.5%), domestic beef (3.3%), imported beef (7.4%), and eggs (5.2%), saw price increases.In contrast, industrial goods and services each rose by 3.7%. Within industrial goods, petroleum products surged by 14.2%, maintaining a double-digit increase. Diesel prices rose by 19.6%, gasoline by 11.5%, and kerosene by 19.7%. However, the increase in petroleum prices was slightly lower than the previous month.The rise in service prices was significantly influenced by mobile phone fees, which increased by 26.7% compared to last year due to a base effect from a 50% discount offered by telecom companies in August 2025. Consequently, public service prices rose by 6.5% year-on-year, a substantial increase from the previous month's rate of 1.4%.Lee Doo-won, an economic statistics officer at the National Data Agency, explained, "The base effect from last year's fee reductions accounts for approximately 0.58 percentage points. Without this effect, overall inflation appears to be around 2.5%."Core inflation also saw a significant rise. The index excluding food and energy increased by 3.4% compared to the same month last year, up 0.8 percentage points from the previous month (2.6%). This is the highest rate since May 2023, when it reached 3.8%. The index excluding agricultural products and petroleum also rose by 3.1%, marking the highest level since December 2023.Prices for processed foods also increased significantly, rising by 1.5% year-on-year, an increase of 0.5 percentage points from July's 1.0%. This is attributed to the recent price hikes in processed food products being gradually reflected in consumer prices. Prices for bread, snacks, and noodles have risen.The living cost index jumped by 3.2% compared to the same month last year. While food prices rose by 0.8%, non-food items increased by 4.8%. As overall prices have climbed back to the 3% range, the burden of perceived inflation continues to be felt, particularly for frequently purchased items.Lee noted regarding the rise in core inflation, "The base effect from mobile phone fee reductions has had a more significant impact on the index excluding food and energy than on overall consumer prices, as the number of items considered dropped from 450 to 309, amplifying the effect of this base change."* This article has been translated by AI. 2026-09-02 09:20:00
  • KOSPI Plummets Nearly 3% at Open Amid Weak U.S. Markets
    KOSPI Plummets Nearly 3% at Open Amid Weak U.S. Markets KOSPI opened nearly 3% lower due to the impact of weak U.S. markets but has slightly reduced its losses thanks to early buying by individual investors. As of 9:07 a.m. on September 2, the KOSPI index was down 192.47 points (2.82%) at 6,643.33. The index started at 6,625.47, down 210.33 points (3.08%) from the previous trading day, before slightly recovering. In the securities market, individual investors have made a net purchase of 521.7 billion won. In contrast, foreign and institutional investors sold a net 304.5 billion won and 238.6 billion won, respectively, contributing to the index's decline. Major stocks are all in the red. Samsung Electronics is trading at 252,000 won, down 3.45% from the previous day, while SK Hynix has fallen 3.72% to 1,630,000 won. Other declining stocks include SK Square (-4.12%), Samsung Electro-Mechanics (-3.43%), LG Energy Solution (-1.63%), Hyundai Motor (-2.62%), Samsung Biologics (-1.78%), Samsung C&T (-2.69%), and KB Financial Group (-1.05%). At the same time, the KOSDAQ index is down 24.91 points (3.03%) at 796.34, having started at 802.80, down 18.45 points (2.25%). In the KOSDAQ market, individual investors have made a net purchase of 30.3 billion won, while foreign and institutional investors sold a net 16.1 billion won and 15.8 billion won, respectively. Top KOSDAQ stocks are also experiencing declines. Notable drops include Alteogen (-1.99%), EcoPro (-3.44%), EcoPro BM (-2.93%), Rainbow Robotics (-2.89%), JUSUNG Engineering (-1.39%), Wonik IPS (-1.00%), Rino Technology (-2.60%), EoTechnics (-1.14%), SimTec (-1.04%), and HLB (-3.67%). Overnight, renewed clashes between the U.S. and Iran led to declines across all three major U.S. stock indices. The Dow Jones Industrial Average fell by 0.79%, the S&P 500 dropped by 0.71%, and the Nasdaq Composite decreased by 1.03%. However, there is potential for a partial recovery during the trading day as bargain-hunting may emerge. Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic market is expected to open lower due to concerns over rising oil prices and interest rates, as well as a 3% decline in KOSPI 200 futures overnight. However, we anticipate that the market will respond to factors such as the influx of bargain-hunting and the strong earnings surprise from Dell, which saw a 6% surge in after-hours trading due to robust AI server sales, thereby reducing its losses throughout the day."* This article has been translated by AI. 2026-09-02 09:20:00
  • Trip.com Wins Brand of the Year for Seventh Consecutive Year
    Trip.com Wins 'Brand of the Year' for Seventh Consecutive Year Trip.com has been awarded the 'Brand of the Year' in the travel services category for the seventh consecutive year, as determined by consumer voting. This year, over 770,000 consumers participated in the selection process.On September 1, Trip.com announced its recognition at the '2026 Brand of the Year' awards ceremony held at the Shilla Hotel in Seoul.Now in its 24th year, the Brand of the Year awards are organized by the Korea Consumer Brand Committee. Brands are selected through consumer voting, with more than 770,000 participants contributing through online and one-on-one phone surveys this year.Since 2020, Trip.com has consistently ranked in the travel services category.Trip.com is an online travel platform that allows users to book flights, hotels, transportation, and tours all in one place. It provides pricing information to domestic users at the final payment stage to ensure transparency and operates a 24-hour Korean customer service center along with various payment options.Hong Jong-min, head of Trip.com Korea, expressed his gratitude, stating, "I am pleased to receive such positive results for seven consecutive years in an awards ceremony with participation from over 770,000 consumers. We have been enhancing our pricing policies and localization services to ensure convenience for Korean travelers."He added, "We will continue to improve our services across flights, accommodations, transportation, and activities to enhance the convenience for independent travelers."* This article has been translated by AI. 2026-09-02 09:16:00
  • September Mock Exam Sets Direction for 2027 College Entrance Exam
    September Mock Exam Sets Direction for 2027 College Entrance Exam The final official mock exam for the 2027 College Scholastic Ability Test (CSAT) began nationwide, providing a glimpse into the exam's direction and difficulty. The Korea Institute for Curriculum and Evaluation announced that it has thoroughly excluded so-called 'killer questions' that require problem-solving techniques often practiced in private education, ensuring that students who have studied diligently within the public education curriculum can adequately tackle the exam.The September mock exam was conducted simultaneously at 2,162 high schools and 574 designated academies across the country starting at 8:40 a.m. The institute emphasized that this exam accurately reflects the content and level of the 2015 revised high school curriculum and focuses on measuring the mathematical skills necessary for higher education.The core principle of the exam's design is to maintain differentiation within the public education framework. The institute has excluded questions that favor students who have learned mechanical problem-solving techniques in private academies, concentrating instead on assessing understanding of fundamental concepts and logical reasoning developed through school lessons. Even previously covered materials have been restructured in innovative ways to prevent rote memorization.To alleviate the actual learning burden on students, the exam significantly increased the perceived linkage to EBS materials. Following previously announced implementation plans, the institute actively utilized charts, illustrations, and texts from EBS CSAT textbooks to enhance this linkage. The approach involved indirect linkage, borrowing and transforming key concepts, principles, and arguments rather than directly copying questions.The linkage rate based on the number of questions per subject area was maintained at around 50%. The Korean language area recorded 53.3%, while the English area reached 55.6%. The mathematics, inquiry (social, science, vocational), and second foreign language/Korean classics areas were set at 50.0%. The linked materials are from the EBS CSAT special lectures and completion textbooks published for this year's third-year high school students.This exam applied the integrated CSAT system of 'common + elective subjects' introduced in the 2022 academic year. The Korean language, mathematics, and vocational inquiry areas were conducted under a common and elective subject system, while students could choose up to two subjects from 17 options in the social and science inquiry areas without regard to their academic track. The English, Korean history, and second foreign language/Korean classics areas are graded on an absolute scale.The institute emphasized its commitment to addressing the ongoing controversy regarding the 'advantages and disadvantages of elective subjects' since the introduction of the integrated CSAT. It took special care to balance the difficulty levels to ensure that groups selecting specific subjects do not gain unfair advantages or suffer disadvantages in standard scores.Admissions experts noted, "This September mock exam serves as a crucial benchmark for assessing the scale and academic level of N-suk students (repeat test-takers) entering the main CSAT, as well as for understanding the trends in CSAT question design. Rather than getting overly concerned with scores, students should thoroughly review the logical structures of the moderately difficult questions that were carefully crafted under the principle of excluding killer questions."* This article has been translated by AI. 2026-09-02 09:16:00
  • Roborock Hosts Hands-On Robotics Education for High School Students
    Roborock Hosts Hands-On Robotics Education for High School Students Roborock Korea announced it conducted a hands-on robotics education program for high school students on September 2.From August 27 to 28, Roborock Korea held a 'Spark Seminar' for students participating in the '2nd Seoul Student Robotics Competition (SSRC),' organized by the Seoul Metropolitan Office of Education.About 20 high school students from the Seoul area participated in reverse engineering exercises, disassembling five different models of Roborock robot vacuums to analyze their internal structures and technologies. They closely examined the functions and arrangements of key hardware components, including sensors, motors, mainboards, wiring, and batteries, to understand the principles of navigation and cleaning through internal analysis of the completed products.The seminar also included safety training, where participants learned essential safety protocols for handling and disassembling electronic devices and batteries, as well as procedures for safely disposing of removed batteries.This seminar is part of the SSRC's corporate partnership education program promoted by the Seoul Metropolitan Office of Education. The SSRC is a comprehensive educational project that allows high school students in Seoul to form teams across schools and majors to experience various roles in the industry, from robot planning, design, and production to management, strategy, and marketing.As an official sponsor of this year's SSRC, Roborock Korea is actively supporting youth engagement with advanced robotics. The company also participated as a corporate judge in the 'Funding Pitching' program held on August 8, awarding a total of 5 million won to outstanding project teams.A Roborock Korea representative stated, "We aimed to provide students with the opportunity to experience the structure and operation principles of robots by disassembling and analyzing robot vacuum products. We will continue to support practical education to help domestic youth become familiar with robotics technology and develop creative ideas."* This article has been translated by AI. 2026-09-02 09:12:00
  • Hyundai Motorstudio Seoul Celebrates First Anniversary with Auto Club Festival
    Hyundai Motorstudio Seoul Celebrates First Anniversary with Auto Club Festival Hyundai Motor Company is hosting a joint festival with auto clubs to celebrate the first anniversary of Hyundai Motorstudio Seoul.On September 5, Hyundai Motorstudio Seoul will hold the 'Hyundai Motorstudio Playground' in collaboration with various auto clubs, the company announced on September 2.Since its renovation last year, Hyundai Motorstudio Seoul has transformed into a community space that encompasses diverse automotive cultures beyond brand boundaries. It has evolved from a simple exhibition space into an 'automotive playground' that covers the history, culture, and future of automobiles.In the past year, over 20 automotive community events focused on themes such as classic cars, sim racing, die-cast models, and mini cars have been held, attracting more than 110,000 visitors.For the anniversary event, seven clubs that have participated over the past year will be involved. Outside the building, 'Classic Car Korea' and the pony club 'Team Pony' will showcase various classic cars at scheduled times for visitors.On the first floor, club members will display custom die-casts, model kits, and dioramas they have created. The second floor will feature a model kit assembly class hosted by the model club 'Beginners' Model Kit.'The third floor will host a sim racing lap time challenge organized by the sim racing club 'Assetto Corsa Cafe.' On the fourth floor, 'Diecast Korea' will exhibit and sell a variety of die-cast models.On the fifth floor, the mini car racing club 'Mini Car Boom, Once Again!' will conduct mini car races. The event is designed to be family-friendly, allowing both adults and children to experience automotive culture together.Also on this floor, the automotive community 'WRD' will operate a showroom and merchandise sales area themed 'Car Enthusiast's Room.' A trunk market and snack lounge will be available on the rooftop.Jisung Won, Vice President of Hyundai Motor's Brand Marketing Division, stated, "Hyundai Motorstudio Seoul will continue to be a space where anyone who loves cars can enjoy, and it will remain an open space that embraces diverse automotive tastes without boundaries." Hyundai Motorstudio Seoul has been located in Gangnam, Seoul, since 2014. The interior features a car bookstore, relaxation and exhibition areas, and membership spaces.* This article has been translated by AI. 2026-09-02 09:08:10
  • Doosan Fuel Cell Enters U.S. Power Market with AI Data Center Supply
    Doosan Fuel Cell Enters U.S. Power Market with AI Data Center Supply Doosan Fuel Cell is entering the U.S. power market by supplying fuel cells for AI data centers through its American subsidiary, HyAxiom.On September 2, Doosan Fuel Cell announced that it has signed a contract with HyAxiom to supply phosphoric acid fuel cells (PAFC) worth 501.4 billion won. The products will be delivered sequentially to HyAxiom from the second half of this year until the first half of 2028, and HyAxiom will supply them to AI data centers in the United States.HyAxiom is responsible for research and development (R&D), as well as sales, engineering, project execution, commissioning, and long-term service agreements (LTSA) in North America and Europe.The contract comes amid power bottlenecks in the U.S. As the demand for electricity from AI data centers grows faster than the construction of power plants and transmission networks, securing quick power supply has become a key factor in AI competition.While expanding transmission networks can take years, building data centers typically takes around 18 months. To bridge this time gap, global tech giants are increasingly adopting on-site power generation systems near data centers, with fuel cells emerging as a strong alternative.Doosan Fuel Cell and HyAxiom aim to complete installations at customer sites in the U.S. within about a year after the contract, ensuring timely power supply aligned with data center construction schedules. The modular structure allows for scalable expansion in response to increasing power demand.Additionally, depending on customer needs, the heat generated during the fuel cell power generation process can be utilized for cooling data centers through absorption chillers and heat pumps. Since a significant portion of data center power is used for cooling, an integrated solution that considers both power generation and cooling is a distinguishing feature of PAFC.A representative from Doosan Fuel Cell stated, "This contract confirms our competitiveness in the U.S., a core market for self-power (BTM) solutions that can address the power bottleneck issues of data centers in the AI era. We will leverage this as a stepping stone to expand additional orders in the North American market with rapid supply and scalable expansion capabilities."Meanwhile, Doosan Fuel Cell announced in August that it will mass-produce and supply key components, known as 'stacks,' for solid oxide fuel cells (SOFC) to the European market using its own production technology.* This article has been translated by AI. 2026-09-02 09:08:00
  • Daehan Shipping Signs Long-Term PCTC Contract Worth 73 Billion Won with Hyundai Glovis
    Daehan Shipping Signs Long-Term PCTC Contract Worth 73 Billion Won with Hyundai Glovis Daehan Shipping, a subsidiary of SM Group, announced on September 2 that it has signed a long-term contract with Hyundai Glovis for car carriers (PCTC) worth 73 billion won.The contract amount represents 5.7% of Daehan Shipping's consolidated revenue of 1.277 trillion won last year. The contract period will begin in November and last for 5 years and 4 months. Prior to this, Daehan Shipping plans to acquire a used PCTC to be utilized in the main contract, increasing its fleet for long-term operations with Hyundai Glovis from one to two vessels.Daehan Shipping explained that its expertise in ship management and the strong trust built with Hyundai Glovis since 2015 have contributed to securing this contract.With this contract, Daehan Shipping aims to solidify a stable business structure centered on long-term contracts with reputable clients. The company anticipates that the rising demand for PCTCs, driven by increased automobile exports from Asia, will allow for further business expansion.Additionally, amid the competitive landscape for liquefied natural gas (LNG) carriers due to energy supply chain risks from conflicts in the Middle East, Daehan Shipping plans to create growth momentum through additional contracts with major clients such as Korea Gas Corporation.Min Sang-ki, CEO of Daehan Shipping, stated, "This contract with Hyundai Glovis has secured a stable new revenue source and laid the groundwork for expanding our PCTC business. We will respond swiftly to changes and uncertainties in the global shipping market while continuing to seek new business opportunities that meet both stability and profitability, as well as strategic investments to enhance future growth and shareholder value."Meanwhile, Daehan Shipping reported a consolidated operating profit of 63 billion won in the second quarter of this year, a 91% increase compared to 33 billion won in the same period last year, indicating a solid performance trend.* This article has been translated by AI. 2026-09-02 09:08:00
  • CJ ONE Partners with Naver Pay for Point Accumulation and Use
    CJ ONE Partners with Naver Pay for Point Accumulation and Use CJ OliveNetworks has announced a partnership with Naver Pay to introduce a membership linking service for its lifestyle membership program, CJ ONE.On September 2, CJ OliveNetworks stated that CJ ONE members can now accumulate and use CJ ONE points through Naver Pay.This partnership expands the benefits of CJ ONE membership to both online and offline payment environments within Naver Pay. As smartphone-based payments and in-person transactions become commonplace, the service aims to meet customer demand for utilizing membership benefits during the payment process.Naver Pay is a convenient payment platform with over 34 million users. It offers a range of services, including online and offline payments, reservations, and orders, and has a payment ecosystem that allows users to earn and use Naver Pay points.CJ ONE members can easily link their membership through the 'Add Membership' menu on the Npay app or website. Once linked, members can access CJ ONE benefits during the Naver Pay payment process.Im Ah-jin, a representative of CJ ONE, stated, “We planned this service to allow CJ ONE members to conveniently utilize membership benefits across various payment environments through our partnership with Naver Pay. We will continue to expand partnerships with services closely related to our customers' daily lives to enhance the convenience of using CJ ONE.”* This article has been translated by AI. 2026-09-02 09:08:00
  • U.S. Army Leadership Visits Hanwha Aerospace to Assess K9 Production Capabilities
    U.S. Army Leadership Visits Hanwha Aerospace to Assess K9 Production Capabilities The U.S. Army recently visited Hanwha Aerospace's domestic facility.On August 26, Brent G. Ingraham, the U.S. Army's Assistant Secretary for Acquisition, Logistics, and Technology, and his delegation confirmed the production capabilities of ground defense equipment, including the wheeled K9 self-propelled howitzer, at the Changwon facility, Hanwha Aerospace announced on September 2.As the chief acquisition officer for the U.S. Army, Ingraham oversees more than 550 acquisition programs with a portfolio valued at approximately $170 billion. He has previously managed major weapon system acquisitions for the Department of Defense, including aviation, maritime, cyber, and electronic warfare systems.This visit followed Hanwha Defense USA's recent contract to supply prototypes for the U.S. Army's wheeled self-propelled howitzer (MTC) program.The delegation toured the K9 production site and examined automated processes that support mass production and quality control, such as robotic welding. They also observed mobility demonstrations of both wheeled and tracked K9 self-propelled howitzers, as well as various defense systems from Hanwha, including the multiple launch guided rocket system Chunmoo, M-SAM, L-SAM, Redback infantry fighting vehicle, and the Korean Vertical Launching System (KVLS). The two sides discussed options for U.S.-South Korea defense cooperation to support the modernization of the U.S. Army's capabilities.The visiting group reacted positively to the level of automation in the production line and the demonstrations of actual equipment, expressing significant interest in Hanwha's production capacity and management systems.Michael Coulter, CEO of Hanwha Defense USA, stated, "For over 70 years, the U.S.-South Korea alliance has been the cornerstone of peace and security, and defense cooperation is a crucial pillar supporting that alliance. With our proven manufacturing capabilities and global production experience, we will strengthen the deterrence of the U.S.-South Korea alliance and contribute to the U.S. defense industrial base."Meanwhile, Hanwha Defense USA has recently signed a contract to supply six prototypes of the wheeled K9 to the U.S. Army, with an additional option for 12 more units and plans for local production in the U.S. as it accelerates its entry into the defense market.* This article has been translated by AI. 2026-09-02 09:04:00