AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • 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
  • Aisin Juro Korea Targets Domestic Market with 400-Year-Old Chinese Baijiu
    Aisin Juro Korea Targets Domestic Market with 400-Year-Old Chinese Baijiu Aisin Juro Korea is expanding its presence in the domestic market by promoting Chinese Baijiu, which has ties to the Qing Dynasty royal family. The company announced on September 2 that it imports and sells various Chinese Baijiu, including 'Daechung Gwan Yang Eopumju,' Hongyunju, Shengliang No. 1, Zhenghuangqizhu, and Longsai. 'Aisin Juro (愛新覺羅)' is the surname of the Qing Dynasty royal family. According to the company, Aisin Juro has a brewing history of about 400 years, continuing the lineage of alcohol once supplied to the royal family. It has also been recognized by the Chinese Ministry of Commerce as a 'Zhonghua Nozaho,' a designation for brands with historical and traditional significance. The flagship product, Daechung Gwan Yang Eopumju, is a Baijiu made using traditional fermentation with natural yeast and long-term aging methods. The company states that it inherits the manufacturing traditions of the alcohol once supplied to the Qing Dynasty royal family. It has won the top award in the Baijiu category at the Korea Liquor Awards for two consecutive years, in 2025 and this year. Hongyunju is marketed as a product suitable for celebrations and banquets. It is made using a long aging process in barrels infused with red pine and medicinal herbs. In South Korea, it is available for purchase through KakaoTalk gift services. Additionally, the company sells Shengliang No. 1, known as the official banquet liquor of the Liaoning provincial government, Zhenghuangqizhu, named after the Eight Banners of the Qing Dynasty, and the premium Baijiu Longsai. Aisin Juro Korea plans to expand its distribution network and consumer engagement by emphasizing its traditional and premium image, as consumer interest in Chinese Baijiu, including sorghum liquor, is diversifying in the domestic market. Aisin Juro Korea representatives stated, "Aisin Juro liquor continues the tradition of the alcohol used at the celebration of the founding of the Qing Dynasty. As consumer perceptions of Baijiu in South Korea are changing, we will seek to expand our market based on our quality competitiveness."* This article has been translated by AI. 2026-09-02 09:04:00
  • Ji Ye-eun and Bata to Marry in December After One Year of Dating
    Ji Ye-eun and Bata to Marry in December After One Year of Dating Actress Ji Ye-eun (32) and dancer Bata (32, real name Kim Tae-hyun) are set to marry in December.According to My Daily on September 2, Ji Ye-eun and Bata will hold their wedding on December 12 at a location in Seoul.The two, born in 1994, met at church and transitioned from friends to a romantic relationship.Entertainment industry sources reported that the couple has been dating for about a year and decided to marry based on their mutual confidence in each other, despite their relatively short time together. They have recently shared the news with close friends and are receiving congratulations.Their relationship became public in April, when they stated, “We have developed good feelings for each other after being colleagues. We ask for your warm support.”Ji Ye-eun, known for her strong Christian faith, has expressed her affection for Bata, mentioning in various broadcasts that they met at church and highlighting that he quit drinking and smoking after finding faith.Bata has been supportive of Ji Ye-eun, even participating in choreography for their new song “Milkshake” when she performed with the project group ‘Chungju G.C.’ at the ‘Waterbomb Seoul 2025’ event last year.Additionally, it is reported that Bata stood by Ji Ye-eun during her battle with thyroid cancer, further deepening their bond.Ji Ye-eun debuted in 2017 with the web drama ‘How To’ and gained recognition through the ‘SNL Korea’ series. She has since appeared on popular shows like ‘Running Man,’ ‘Office Workers,’ and ‘Yoo Jae-suk Camp.’Bata is the leader of the dance crew We Dem Boyz and gained fame after finishing as a runner-up on Mnet’s ‘Street Man Fighter’ in 2022. He has also contributed to the choreography for BLACKPINK’s Jennie’s song ‘Like JENNIE,’ establishing himself in the K-pop performance scene.* This article has been translated by AI. 2026-09-02 08:52:10
  • Hyundai Introduces Nano Cooling Film to Lower Temperatures in Police Buses
    Hyundai Introduces 'Nano Cooling Film' to Lower Temperatures in Police Buses Hyundai Motor Group announced the application of an advanced material called 'Nano Cooling Film' to two police buses belonging to the Seoul Metropolitan Police Agency's Mobile Division, located in Jung-gu, Seoul. The film can lower the indoor temperature of vehicles simply by being attached to the windows. The Nano Cooling Film not only reflects some solar heat like traditional tinting films but also emits infrared radiation from inside the vehicle. This advanced material was developed by Hyundai Motor Group as a world first. The film consists of three layers: two layers that reflect near-infrared wavelengths of solar energy and one layer that emits mid-infrared wavelengths to the outside. It can be applied to vehicles in the same manner as conventional tinting films. A Hyundai Motor Group official stated, "We decided to apply the film considering that police officers use the buses as mobile offices and living spaces for extended periods. Given the nature of police buses, which cannot have dark tinting for operational compliance, they are particularly vulnerable to heat. We noted that officers have expressed difficulties in performing their duties during heat waves." As a result, the Nano Cooling Film, with a transmittance rate of 90%, was installed on the side and rear windows of two Universe buses belonging to the 13th and 14th Mobile Divisions, and these buses were immediately deployed for police operations. The application of this film is expected to enhance the work efficiency of police officers and contribute to energy savings by reducing excessive air conditioning use. Hyundai plans to monitor the cooling effects and quality over the next year before considering mass production. Previously, Hyundai Motor Group applied the 90% transmittance Nano Cooling Film to Universe FCEV buses produced at its Jeonju plant and conducted comparative evaluations with vehicles that did not have tinting. While there were variations depending on weather and sunlight, the vehicles with the film maintained an average indoor temperature about 2 to 3 degrees lower than those without it. In the driver's seat, where sunlight exposure is more intense, the difference reached nearly 7 degrees. This technology not only helps maintain passenger comfort but is also significant considering that it takes about 1.6 kWh of power to lower the bus's indoor temperature by 1 degree, indicating potential for energy savings and reduced carbon emissions. Lee Min-jae, head researcher at Hyundai and Kia's Basic Materials Research Center, expressed satisfaction in developing a technology that could assist police officers struggling with heat. He added, "We will continue to increase real-world applications and monitor them to enhance the technology's effectiveness." Meanwhile, Hyundai has launched the 'Made Cooler by Hyundai' campaign in Pakistan, where tinting is legally prohibited, providing transparent Nano Cooling Film to over 70 drivers for free, garnering a positive response from local drivers. The campaign's originality was recognized, leading to Hyundai hosting an official seminar on technology at the 2024 Cannes Lions, the largest international advertising festival, making it the first automaker to do so. The campaign also won gold and silver at the 2024 London International Awards and three main awards at the 2025 One Show.* This article has been translated by AI. 2026-09-02 08:52:00
  • Consumer Prices Rise 3.1% in August; Government Excludes Phone Discount Impact
    Consumer Prices Rise 3.1% in August; Government Excludes Phone Discount Impact Consumer prices in August increased by 3.1%, a larger rise compared to the previous month. The government attributed a 0.6 percentage point increase in the inflation rate to a base effect from last year's mobile phone bill discounts, estimating that the actual inflation rate, excluding this factor, is around 2.5%. In preparation for Chuseok, the government is enhancing measures to stabilize prices, including a 103 billion won subsidy for agricultural, livestock, and fishery products.The Ministry of Economy and Finance held a meeting on September 2, led by Vice Minister Kang Gi-ryong, to discuss August's consumer price trends, price management plans for 19 essential items, and strategies to address economic challenges.In August, consumer prices rose 3.1% compared to the same month last year, an increase of 0.3 percentage points from July's 2.8%. Prices for agricultural, livestock, and fishery products fell by 2.6%, marking the largest decline since November 2019, when prices dropped by 2.7%.The primary driver of the inflation increase was identified as the base effect from last year's mobile phone bill discounts, which the government estimates raised this August's inflation rate by about 0.6 percentage points. Excluding this factor, the inflation rate for August is estimated at 2.5%.Despite rising international oil prices, the increase in petroleum product prices has slowed. The inflation rate for petroleum products decreased from 15.5% in July to 14.2% in August. The government estimates that the price cap on oil has reduced the overall inflation rate by 0.5 percentage points, suggesting that without this measure, inflation could have reached 3.6%.The government anticipates that the inflation rate in September will ease compared to August, but it has identified upward pressures on prices due to uncertainties in the Middle East and climate impacts.Vice Minister Kang stated, "While we expect the inflation rate in September to be lower than in August, we must remain vigilant against upward pressures from uncertainties in the Middle East and climate factors. The government will do its utmost to minimize these pressures to alleviate the burden on citizens ahead of Chuseok. We urge all ministries to work together to ensure the swift implementation of the 'Chuseok Economic Stability Measures' announced yesterday."To stabilize prices for Chuseok essentials, the government will invest a record 103 billion won to provide discounts of up to 40-50% on agricultural, livestock, and fishery products, and supply a record 183,000 tons of 19 essential items. Additionally, a program will refund 30% of purchases, up to 20,000 won, in gift certificates at 300 markets for agricultural and fishery products. Further measures to stabilize prices for agricultural and fishery products are also under consideration.The government will provide 43.4 trillion won in holiday funds to small businesses and will support 480 billion won in policy financing for low-income and vulnerable groups over the next two months. Subsidies linked to fuel prices for CNG, diesel, and tax-exempt fuel for farmers and fishermen will also be extended until the end of the year.Additionally, the government has activated a 'Joint Response Team for Economic Disruption' to address issues such as collusion, monopolistic practices, and consumer deception that threaten economic stability. Investigations and sanctions will be pursued across various sectors, including essential goods, services, education, and energy.* This article has been translated by AI. 2026-09-02 08:52:00
  • Surge in Individual Professional Investors Amid Bull Market
    Surge in Individual Professional Investors Amid Bull Market As the domestic stock market continues to thrive, the number of registered individual professional investors has seen a sharp increase.On September 2, Park Seong-hoon, a member of the National Assembly's Political Affairs Committee, revealed data from the Financial Investment Association indicating that as of the end of July this year, there were a total of 26,282 individual professional investors.This marks an increase of 3,787 (16.8%) from the end of last year, when the count was 22,495.Individual professional investors are individuals with a certain level of investment experience who meet at least one of the income, asset, or expertise criteria and are registered after passing a securities firm's review.Once registered, these investors benefit from relaxed regulations that typically apply to general investors. After completing specific training, they can invest in high-risk products such as Contracts for Difference (CFDs) and are not subject to certain minimum investment amounts or limits on financial products.The number of individual professional investors rose to 26,672 by the end of 2022 but then declined. By the end of 2024, the figure had dropped to 20,820. However, following a rebound in the domestic stock market last year, the number has begun to rise again.Notably, the pace of growth has accelerated this year.In February, the monthly increase was limited to 271, but as the KOSPI index continued to rise, the number jumped to 779 in May and 925 in June.Conversely, in July, when the KOSPI experienced a sharp correction, the increase fell to 206.From the beginning of the year through July, there were a total of 11,173 new registrations as individual professional investors, not accounting for any cancellations by existing registrants.The strong performance of the domestic stock market, often referred to as a 'bull market,' has heightened interest among individual investors in stock trading, prompting many to seek registration as individual professional investors in pursuit of higher returns.Indeed, the KOSPI, which briefly fell below 2,300 in early April last year, has since been on an upward trajectory, setting multiple all-time highs this year.Park Seong-hoon emphasized the need to assess whether adequate investor protection measures are in place in light of the surge in individual professional investors.He stated, "The nearly 3,800 increase in individual professional investors in just seven months is a signal that financial authorities cannot afford to overlook. We must ensure that the designation of professional investor does not undermine investor protection or become a loophole for selling high-risk products."He added, "Rather than shifting risks onto individuals under the guise of expanding investment choices, we must establish effective investor protection measures."* This article has been translated by AI. 2026-09-02 08:48:00
  • Market Preview: U.S. Stocks Decline Amid Ongoing Tensions in the Middle East
    Market Preview: U.S. Stocks Decline Amid Ongoing Tensions in the Middle East The KOSPI, which had risen for two consecutive days, is expected to open lower on September 2 due to the weak performance of U.S. stocks.On September 1 (local time), fighting resumed between the U.S. and Iran, leading to declines across all three major U.S. stock indices on the New York Stock Exchange.The Dow Jones Industrial Average fell by 0.79%, while the S&P 500 dropped by 0.71%. The Nasdaq Composite also decreased by 1.03%. Investor sentiment was dampened following additional U.S. airstrikes against Iran, which prompted retaliatory attacks from Iran.International oil prices surged sharply, with November Brent crude futures rising 4.60% to $94.65 per barrel, and October West Texas Intermediate (WTI) crude increasing by 5.20% to $90.22.The yield on U.S. 10-year Treasury bonds continued to rise, reaching around 4.79%, the highest level since January 2025. The Philadelphia Semiconductor Index fell by 2.10%, and SK Hynix's American Depositary Receipts (ADRs) dropped by 2.31%.According to Seo Sang-young, a researcher at Mirae Asset Securities, "With President Donald Trump taking a hardline stance and news of Iran's missile launches, international oil prices surged over 5%, leading to increased inflationary pressures and a rise in bond yields, which further exacerbated the decline in the stock market."The domestic stock market is also expected to open lower. As of 8:11 a.m. on this day, Samsung Electronics was trading at 253,000 won, down 3.07% (8,000 won) from the previous trading day, while SK Hynix fell 3.43% (58,000 won) to 1,635,000 won.However, there is a possibility that buying interest may emerge during the trading session, potentially reducing losses. Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic market is expected to open lower due to rising oil prices and interest rate pressures, as well as a 3% decline in KOSPI 200 night futures. However, we anticipate that the market will respond to factors such as the influx of bargain buying and the strong earnings surprise from Dell, which saw a 6% surge in after-hours trading due to robust AI server sales, thereby reducing the extent of the decline."* This article has been translated by AI. 2026-09-02 08:48:00
  • June Bank Non-Performing Loan Ratio at 0.63% as New Defaults Surge in SMEs
    June Bank Non-Performing Loan Ratio at 0.63% as New Defaults Surge in SMEs Domestic banks saw their non-performing loans increase by over 1 trillion won in the second quarter of this year. Notably, corporate loan defaults surged to their highest level, with significant increases in new defaults among small businesses.According to a report released by the Financial Supervisory Service on the status of non-performing loans at domestic banks as of the end of June 2026, the non-performing loan ratio rose to 0.63%, up 0.03 percentage points from 0.60% at the end of March.The total amount of non-performing loans reached 18.9 trillion won, an increase of 1.2 trillion won from 17.7 trillion won at the end of the previous quarter. Of this, corporate loan defaults amounted to 15.2 trillion won, marking a 1 trillion won increase over three months, the highest level in over seven years since March 2019. Household loans accounted for 3.4 trillion won, up 1 trillion won from the previous quarter, while credit card loans remained stable at 3 trillion won.New defaults also saw a significant rise. In the second quarter, newly incurred non-performing loans totaled 7.2 trillion won, an increase of 1.7 trillion won from the previous quarter. New corporate loan defaults reached 5.7 trillion won, up 1.6 trillion won from 4.1 trillion won, while household loan defaults increased by 1 trillion won to 1.4 trillion won. New defaults in small businesses rose to 4.5 trillion won, an increase of 1.2 trillion won from the previous quarter, while large corporations saw an increase of 400 billion won to 1.2 trillion won.During the second quarter, the amount of resolved non-performing loans was 6.1 trillion won, up 1.7 trillion won from the previous quarter. By sector, the non-performing loan ratio for corporate loans rose to 0.77%, an increase of 0.03 percentage points, the highest level since March 2021.The non-performing loan ratio for large corporate loans increased by 0.03 percentage points to 0.53%, while small business loans rose to 0.92%, up 0.04 percentage points. Notably, the non-performing loan ratio for small corporate loans increased to 1.08%, up 0.05 percentage points, and loans to individual business owners rose to 0.67%, an increase of 0.01 percentage points.The non-performing loan ratio for household loans was 0.33%, up 0.01 percentage points from the previous quarter. The ratio for mortgage loans remained stable at 0.22%, while other credit loans increased to 0.67%, up 0.01 percentage points. The non-performing loan ratio for credit card loans rose to 1.88%, an increase of 0.06 percentage points.The balance of loan loss reserves in the banking sector stood at 26.9 trillion won, an increase of 200 billion won from the end of March. However, the loan loss reserve ratio, calculated by dividing the reserve balance by non-performing loans, fell to 142.9%, down 7.5 percentage points from the previous quarter.The Financial Supervisory Service stated, "The upward trend in the non-performing loan ratio continues, particularly in some vulnerable sectors, and proactive soundness management is necessary considering the prolonged situation in the Middle East and the potential for rising domestic and international interest rates."* This article has been translated by AI. 2026-09-02 08:48:00