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  • Gaon Cable Expands Low-Friction Cable Use to AI Data Centers
    Gaon Cable Expands Low-Friction Cable Use to AI Data Centers Gaon Cable is expanding the application of its low-friction cables, validated in semiconductor factories, to artificial intelligence (AI) data centers. The company aims to broaden its data center business, which has primarily focused on bus ducts, to include low-voltage (LV) and medium-voltage (MV) cables, targeting the growing demand for AI power infrastructure in North America.On September 2, Gaon Cable announced that it will extend the use of its low-friction cables for distribution in AI data centers. These cables feature improved outer materials that reduce friction during installation by approximately 30% compared to existing products.With reduced friction, the installation distance can increase by up to 45%. The company explained that this also minimizes the number of pulling operations and intermediate connections, allowing for a 20-30% reduction in labor and construction costs. Gaon Cable has also secured patents for the core material technology related to these cables.While the use of bus ducts is increasing in AI data centers to supply large amounts of power, distribution cables are also necessary depending on the building's structure and design. The low-friction cables are designed to reduce installation time for distribution cables within complex data center environments.After supplying low-friction cables to North American semiconductor factories last year, Gaon Cable is now expanding their application to AI data centers. Both semiconductor and data center facilities require substantial power infrastructure, allowing the company to leverage its existing supply experience in the AI infrastructure sector.This year, Gaon Cable secured its first order for approximately 35 billion won worth of cables for AI data center power networks in the United States. Additionally, through its subsidiary LSCUS, it has obtained long-term supply contracts for bus ducts worth up to 4 trillion won with major tech companies by 2030. Last month, the company also signed a contract to supply bus ducts worth 200 billion won to a U.S. AI cloud service provider for the year 2027.Gaon Cable is also expanding its local production capacity in the U.S. LSCUS is investing about 76 billion won in its North Carolina plant to double its production capacity for power cables used in AI data centers.By adding low-friction cables to its product lineup, which already includes bus ducts and LV and MV cables, Gaon Cable is expanding its offerings from external power networks to internal distribution within data centers. Jung Hyun, CEO of Gaon Cable, stated, "The importance of construction efficiency is growing in large industrial facilities such as semiconductor and battery plants."* This article has been translated by AI. 2026-09-02 08:40:00
  • Hwang Hee-chan Joins Schalke on Loan from Wolverhampton, Returning to Germany After Five Years
    Hwang Hee-chan Joins Schalke on Loan from Wolverhampton, Returning to Germany After Five Years National team forward Hwang Hee-chan is leaving Wolverhampton Wanderers, who have been relegated to the English Championship, to join Schalke 04 in the Bundesliga.On September 2, Schalke announced on their official website that they have signed Hwang on a one-season loan from Wolverhampton. The contract runs until June 30, 2027.According to local media reports, the loan agreement includes an option for Schalke to make the transfer permanent for a fee of €3 million (approximately $4.78 million) at the end of the season.Although Hwang has a contract with Wolverhampton until June 2028, he struggled last season, scoring only three goals in 31 official matches, which diminished his standing within the team. Wolverhampton finished at the bottom of the Premier League, leading to their relegation to the Championship. Faced with a reduced role and the team's demotion, Hwang actively sought a transfer.This summer, several clubs, including Leeds United in the Premier League, were mentioned as potential destinations for Hwang. Ultimately, he chose to join the traditional German club Schalke. This marks Hwang's return to Germany after five years, having left RB Leipzig in 2021.Schalke is a prestigious team with seven Bundesliga runner-up finishes. They competed in the second division starting in 2023 but won the league last season, earning promotion back to the top tier.The club expects Hwang's addition to enhance their attacking options. Schalke director Uli Müller stated, "Hwang's signing has diversified our attacking options. His ability to play multiple positions and his extensive experience in various leagues and international competitions are significant advantages."Hwang expressed his excitement about joining Schalke, saying, "I was deeply impressed watching Schalke last season. I studied their playing style and believe I will fit well with the team." He added, "I played at Schalke's home stadium in 2021 while with Leipzig, but unfortunately, fans were not allowed at that time. Now, as a Schalke player, I look forward to experiencing the atmosphere in front of a full crowd."Hwang's debut for Schalke could come as early as September 6, when the team hosts Bayern Munich at 1:30 a.m. in their second Bundesliga match of the 2026-2027 season. If he plays, a 'Korean Derby' against Bayern's key defender Kim Min-jae is anticipated.* This article has been translated by AI. 2026-09-02 08:40:00
  • UPDATE: Koreas inflation returns above 3% Aug on one-off base effect
    UPDATE: Korea's inflation returns above 3% Aug on one-off base effect *Updated with additional information, comments, and market response SEOUL, September 2 (AJP) - South Korea's consumer inflation accelerated above 3 percent in August, but would have eased to around 2.5 percent excluding a one-off base effect, as policymakers turn their attention to rising wage costs and strengthening demand as more persistent sources of price pressure. The consumer price index stood at 120.05 in August, up 3.1 percent from a year earlier and 0.2 percent from the previous month, the Ministry of Data and Statistics said Wednesday. Inflation accelerated from 2.8 percent in July after a one-month dip. Lee Doo-won, deputy commissioner for short-term economic statistics at the ministry, said last year's temporary mobile fee discount added about 0.58 percentage point to August inflation. Excluding the effect, inflation would have been around 2.5 percent. The unusually low comparison base stemmed from a cybersecurity incident at SK Telecom in April 2025. The carrier later introduced a 500 billion won ($365 million) customer appreciation package covering about 24 million customers. The package included an automatic 50 percent discount on August 2025 mobile bills for SKT customers and users of budget carriers operating on its network. As that discount dropped out of the annual comparison, mobile phone charges surged 26.7 percent from a year earlier and overall communication prices climbed 16.6 percent. The impact was concentrated in public services rather than broader personal services. Public service inflation jumped to 6.5 percent from 1.4 percent in July, while personal service inflation held at 3.5 percent. Core inflation excluding food and energy rose to 3.4 percent from 2.6 percent a month earlier. A separate measure excluding agricultural and petroleum products increased to 3.1 percent from 2.5 percent. Lee said the telecom base effect had a larger impact on the food-and-energy-excluded measure because its narrower basket gives mobile phone charges a greater relative weight. Financial markets were more focused on the risks ahead, with oil prices and bond yields rising sharply on renewed Middle East tensions and growing concerns over heavy government spending and mounting debt worldwide. The KOSPI lost 3 percent, while the Korean won strengthened 1,371.4 won. Bond prices edged toward multi-year lows. The three-year government yield added 3.6 basis points to 3.914 percent and the 10-year note 3.7 basis points to 4.408 percent by midday. Bank of Korea Deputy Gov. Lee Ji-ho said easing petroleum price gains and falling farm product prices helped limit the overall increase. The central bank said core inflation also reflected continued increases in personal services and durable goods, alongside the telecom base effect. More importantly for the inflation outlook, the BOK expects underlying price pressures to remain elevated as earlier cost shocks continue to pass through and demand strengthens. Petroleum products added further upward pressure, although their pace of increase slowed. Industrial goods prices rose 3.7 percent from a year earlier, while petroleum product prices increased 14.2 percent. Diesel prices climbed 19.6 percent and gasoline prices rose 11.5 percent. Petroleum inflation eased from 15.5 percent in July. The government estimated that its fuel price ceiling lowered August inflation by about 0.5 percentage point. Without the measure, headline inflation could have reached around 3.6 percent. Food prices offered some relief on a year-on-year basis. Agricultural, livestock and fisheries prices fell 2.6 percent after rising 0.9 percent in July, while the fresh food index dropped 6.7 percent. The month-on-month picture, however, showed renewed pressure in vegetables ahead of Chuseok. Fresh vegetable prices jumped 12.5 percent from July. Spinach surged 68.2 percent, chives 64.7 percent, cucumbers 40.4 percent and cabbage 37.0 percent. Lee said summer vegetable prices tend to rise as weather conditions disrupt shipments and increase farming costs, including expenses related to pest control and rainfall. Despite the overall decline in farm prices, several staples remained more expensive than a year earlier. Rice prices rose 6.2 percent and domestic beef gained 3.3 percent. Imported beef climbed 7.4 percent and eggs 5.2 percent, while mackerel and hairtail prices increased 6.5 percent and 7.5 percent, respectively. Headline inflation is expected to ease in September as the telecom base effect drops out. The BOK, however, expects underlying inflation to retain upward momentum, led by core items, as accumulated cost pressures filter through and domestic demand strengthens. The central bank also pointed to renewed uncertainty surrounding the conflict in the Middle East as an additional inflation risk. Ahead of Chuseok, the government plans to release a record 183,000 tons of 19 key holiday food items, about 1.6 times normal supply, and provide discounts of up to 50 percent on major agricultural and fisheries products. Supplies of cabbage and radish will be raised to 1.9 times normal levels, while supplies of apples and pears will be more than tripled. AJP Takeaways - South Korea's consumer inflation accelerated to 3.1 percent in August from 2.8 percent in July, but the Ministry of Data and Statistics estimated it would have been around 2.5 percent without a one-off telecom base effect. - Mobile phone charges surged 26.7 percent from a year earlier as SK Telecom's 50 percent bill discount from August 2025 dropped out of the comparison, adding about 0.58 percentage point to headline inflation. - Core inflation excluding food and energy rose to 3.4 percent, while the Bank of Korea warned that stronger domestic demand and accumulated cost pressures could keep underlying inflation elevated even after the telecom effect fades in September. - Food prices eased year on year, but fresh vegetable prices jumped 12.5 percent from July ahead of Chuseok, prompting the government to release a record 183,000 tons of key holiday food items and offer discounts of up to 50 percent. 2026-09-02 08:37:53
  • Global Financial Markets Rattle as Middle East Tensions Drive Oil Prices Up
    Global Financial Markets Rattle as Middle East Tensions Drive Oil Prices Up Tensions in the Middle East have driven up international oil prices, causing global financial markets to shake. Concerns that rising oil prices could increase inflationary pressures and complicate interest rate cuts in major economies led to simultaneous declines in stock and bond prices.According to the International Financial Center, on September 1 (local time), Brent crude surged 4.60% to $94.65 per barrel. Ongoing military clashes between the U.S. and Iran have raised fears of disruptions to oil supply through the Strait of Hormuz.The spike in oil prices immediately impacted the bond market. The yield on the U.S. 10-year Treasury rose by 5 basis points to 4.80%. The yield on the UK 10-year bond jumped 16 basis points to 5.22%, the highest level since 2008, while Japan's 10-year yield surpassed 3% for the first time in 30 years. In Japan, rising inflationary pressures and concerns over fiscal deterioration have strengthened expectations for interest rate hikes this month.As interest rate burdens increased, investor sentiment towards risk assets weakened. The U.S. S&P 500 index fell by 0.71%, and the European Stoxx 600 index dropped by 0.56%. The volatility index (VIX), which reflects market anxiety, rose by 9.52%. The dollar index increased by 0.24% amid a preference for safe-haven assets.U.S. economic indicators have added to the uncertainty surrounding monetary policy. July job openings and the August manufacturing Purchasing Managers' Index (PMI) fell short of market expectations or showed a slowdown from the previous month, although input prices in manufacturing remained high. While economic momentum is weakening, rising oil prices are exacerbating inflationary pressures.The International Financial Center stated, "The sustainability of the AI investment boom that has supported the U.S. stock market despite high Treasury yields will be crucial. If the geopolitical situation in the Middle East and rising oil prices persist, the burden on corporate financing could increase, leading to continued weakness in both the stock and bond markets."* This article has been translated by AI. 2026-09-02 08:36:20
  • LIG D&A Announces Major Recruitment Drive for Second Half of 2026
    LIG D&A Announces Major Recruitment Drive for Second Half of 2026 LIG Defense & Aerospace (D&A) is launching a large-scale public recruitment drive for the second half of 2026. The company announced on September 1 that applications for new hires and interns will be accepted until the 13th, while experienced candidates can apply from the 7th to the 27th through the recruitment website. LIG D&A is seeking talent in various fields, including missile systems, maritime, satellites, artificial intelligence (AI), and cybersecurity. The company plans to hire over a hundred employees across diverse roles, including research and development in hardware (HW), software (SW), project management, quality control, and business support. The recruitment process will include document screening, competency tests, software coding tests (for software positions), practical interviews by field experts, and leadership interviews. A representative from LIG D&A stated, "We are actively recruiting key talent to lead the development of advanced defense technologies such as AI and cybersecurity to secure dominance in future battlefield environments," adding that the company will continue to expand various recruitment programs, including corporate invitation events. Additionally, LIG D&A offers various family-friendly policies to support work-life balance, including a flexible work system that adjusts commuting hours, a refresh leave system that provides vacation expenses for taking more than three days off, and Family Day events that invite employees' families.* This article has been translated by AI. 2026-09-02 08:36:20
  • Spider-Man 4 Tops North American Box Office for Five Consecutive Weeks, Surpasses $2.3 Billion Worldwide
    Spider-Man 4 Tops North American Box Office for Five Consecutive Weeks, Surpasses $2.3 Billion Worldwide The film 'Spider-Man: Brand New Day' has maintained its position at the top of the North American box office for five consecutive weeks, continuing its strong performance.According to Box Office Mojo, as of September 1, 'Spider-Man: Brand New Day' has held the number one spot in its fifth week of release in North America.The film has grossed a total of $890 million in North America, nearing the $900 million mark. If it surpasses this threshold, it will become the second highest-grossing film in North American box office history, following 'Star Wars: The Force Awakens,' which was released in 2015.Globally, the film's cumulative earnings have exceeded $2.3 billion. This figure is close to the record set by 'Avatar: The Way of Water,' which ranks third in all-time worldwide box office, indicating a potential shift in rankings soon.'Spider-Man: Brand New Day' follows the story of Peter Parker, who has been forgotten by everyone due to the events of its predecessor, 'Spider-Man: No Way Home.' He faces a mysterious enemy who knows his identity and uncontrollable powers. Directed by Destin Daniel Cretton, the film stars Tom Holland, Zendaya Coleman, Sadie Sink, Jacob Batalon, and Mark Ruffalo. It is currently showing in theaters.* This article has been translated by AI. 2026-09-02 08:36:00
  • Instax Partners with 29CM x Loft for Exclusive Pop-Up in Seongsu-dong
    Instax Partners with 29CM x Loft for Exclusive Pop-Up in Seongsu-dong Instax, the instant camera brand, is continuing the excitement from its recent pop-up in Busan with a new event in Seongsu-dong, Seoul. Fujifilm Korea announced that Instax will participate in the '29CM x Loft' pop-up store from September 2 to 6, marking its exclusive presence as the only camera brand in a stationery-focused event.This pop-up is a collaboration between 29CM, a fashion and lifestyle platform operated by Musinsa, and Loft, a Japanese stationery and lifestyle goods store. Instax will be located alongside Japanese stationery brands such as Hobonichi, Ashford, and Kokuyo.Recently, Instax hosted an experiential pop-up in Busan where visitors could take photos and decorate them. The Seongsu pop-up extends this offline strategy, connecting instant cameras to the analog recording culture, including stationery and diary decoration.The exhibition is themed 'Half & Half,' showcasing a mix of kitschy and classic products, allowing consumers to compare cameras that suit their tastes.Visitors can try out their desired cameras in the experience area. Through on-site events, each person can take and print up to three photos, with a space available for decorating the printed images.The product range has also been expanded. In addition to instant cameras and film, disposable cameras like QuickSnap, as well as photo-related accessories such as albums, frames, and straps, will be available for purchase. Discounts will be offered on the 'Instax Link+' for printing smartphone photos and the hybrid camera 'Instax Replay2' during the pop-up period.Fujifilm Korea is focusing on the strengths of instant photography, emphasizing the 'experience of printing and keeping memories' rather than just shooting performance. The aim is to propose a new way of consumption for young consumers who are accustomed to digital photography, encouraging them to own and decorate a physical photo.A representative from Fujifilm Korea stated, 'Instax is the brand with the most diverse lineup of instant film cameras in the country, and we hope this Loft pop-up will convey the special experience that a single photo can provide to consumers who love analog recording culture and stationery.'* This article has been translated by AI. 2026-09-02 08:36:00
  • Ruton Begins Selection Process for IPO Underwriters, Aiming for Listing Next Year
    Ruton Begins Selection Process for IPO Underwriters, Aiming for Listing Next Year Ruton Technologies is officially preparing for its initial public offering (IPO) by starting the selection process for underwriters.On September 2, Ruton announced that it has sent requests for proposals (RFPs) to major domestic securities firms for the selection of IPO underwriters. The company aims to go public next year and plans to finalize details related to the listing after selecting an underwriter this month.Recently, Ruton was recognized with a valuation exceeding 1 trillion won and secured 100 billion won in Series C funding. This brings the total amount of investment raised to approximately 230 billion won.Ruton is also experiencing growth in its overseas operations. The company's AI entertainment content platform, 'OOC,' in North America has surpassed monthly sales of 10 billion won. Ruton is expanding its business scope in international markets based on its domestic AI service operations, thereby broadening its revenue growth base.In response to the expansion of AI services, Ruton is also enhancing user protection. The company plans to strengthen its youth protection policies to increase the safety of AI usage, with specific policies and implementation measures to be announced later this month.CEO Lee Se-young stated, “Over the past five years since our founding, we have established ourselves as a leading domestic AI service company. The recognition of our valuation exceeding 1 trillion won and the rapid growth of our overseas sales demonstrate the global competitiveness of Korean AI services. Now, based on trust in the capital market, we aim to achieve greater growth on a broader global stage while ensuring that we do not neglect our responsibility to provide safe and reliable AI services for users.”* This article has been translated by AI. 2026-09-02 08:32:00
  • Shinhan Securities Raises Hana Financial Groups Target Price Amid Strong Earnings Outlook
    Shinhan Securities Raises Hana Financial Group's Target Price Amid Strong Earnings Outlook Shinhan Investment Corp. announced on September 2 that it has raised its target price for Hana Financial Group from 150,000 won to 160,000 won, citing expectations for continued solid earnings in the second half of the year, improved capital ratios due to declining exchange rates, and an increase in shareholder returns. The firm maintained its 'buy' rating and recommended Hana as its top pick in the banking sector.Research analyst Eun Kyung-wan stated, "Hana Financial Group's net income attributable to shareholders for the third quarter is expected to reach 1.3 trillion won, a 14.9% increase compared to the same period last year, exceeding consensus estimates by 5.3%. Given the consecutive interest rate hikes in July and August, the trend of improving net interest margins remains valid."He added, "We expect that won-denominated loans will increase by over 1% due to balanced growth in household and corporate lending, and the won-dollar exchange rate is projected to drop by more than 160 won, resulting in approximately 150 billion won in foreign exchange gains."Eun also positively assessed the expansion of capital and shareholder returns, noting, "Due to strong performance and the effects of the declining exchange rate, the common equity tier 1 capital ratio is expected to rise above 13.5%. Based on this increased capital strength, we anticipate an announcement of an additional 300 billion won in share buybacks and cancellations in the fourth quarter."He further stated, "Including this, the total shareholder return for the year is projected to reach 2.23 trillion won, achieving a total shareholder return rate of 51.0%."Eun concluded, "While the annual profit and loss estimates have not changed significantly, we have adjusted the target price upward to reflect the change in valuation timing and the increase in shareholder return rates. Compared to competing banks, Hana has a high level of earnings reliability in the second half due to limited exposure related to government bond collusion and the relatively low contribution of profits from its securities affiliates."* This article has been translated by AI. 2026-09-02 08:24:00
  • Pulmuones shelf-stable food sales jump 25.5% in first half
    Pulmuone's shelf-stable food sales jump 25.5% in first half SEOUL, September 02 (AJP) - South Korea's Pulmuone Foods announced Wednesday that first-half sales of its ambient products rose 25.5 percent from a year earlier to a record high, as the company known for chilled and frozen fare pushes to diversify its portfolio. The ambient line, foods that require no refrigeration, has become a central growth target for Pulmuone Foods, the company's total food revenue climbing to 13 percent in the first half from about 7 percent a year earlier. Online sales led the surge, rising 51.9 percent from a year earlier. Compared with the first half of 2021, before the company built out its ambient range, sales soared 791.8 percent. The company explained that growth was concentrated in beverages, Korean home-meal replacements and noodles. The expansion carries a profit rationale as ambient products can contribute more favorably to operating income than chilled or frozen lines, and their longer shelf life eases exports, the company said. " We will scale up the shelf-stable business as a new growth engine, driving both top-line expansion and improved profitability," said Yoon Myeong-rang, head of global marketing at Pulmuone Foods. AJP Takeaways • Pulmuone Foods reported a 25.5 percent year-on-year rise in first-half ambient product sales to a record high, with the category's share of total food revenue rising to 13 percent from about 7 percent a year earlier. • Online ambient sales climbed 51.9 percent from a year earlier and were up 791.8 percent from the first half of 2021, driven by beverages, Korean home-meal replacements and noodles. • Pulmuone Foods aims to scale its shelf-stable line into a new growth axis, expanding overseas sales of longer-life products. 2026-09-02 08:19:45