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  • Mona Hatoums Web Installation Unveiled at Seonhye-won
    Mona Hatoum's 'Web' Installation Unveiled at Seonhye-won A massive spider web hangs overhead, with transparent glass beads glistening like dew, evoking an unsettling feeling. While it may resemble a constellation from below, it also suggests being ensnared as prey in the web.The Podo Museum will showcase the large installation 'Web' by renowned artist Mona Hatoum for the first time in South Korea, starting September 2 at Seonhye-won in Samcheong-dong, Seoul. The artwork fills the grand wooden structure of Gyeongheunggak.At a press conference held a day before the exhibition's opening, Hatoum stated, "The meaning of the spider web will differ for each viewer. I hope they can feel and experience the contrasting currents of being a tool for capturing prey and the ominous energy behind its softness."'Web' offers different sensations from the first and second floors of Gyeongheunggak. From the first floor, viewers may feel like potential prey, while from the second floor, they might see themselves as the spider gracefully traversing the web. This shift in perspective transforms the viewer's role from that of the captured to the captor.'Web' serves as both a trap and a shelter. The Podo Museum explained, "A single thin line weaves through space, creating a structure that holds taut tension within its imperfections. Sometimes, the most precarious things demonstrate the strongest resilience."Born into a Palestinian refugee family in Beirut, Lebanon, Hatoum was unable to return home after the outbreak of the Lebanese Civil War while staying in London in 1975. Since then, she has based her work in London, continuously exploring the unstable relationships between home, body, boundaries, power, and the individual and the world.Hatoum remarked that her work "harmoniously blends with the natural environment of Seonhye-won, adding a sense of lightness and fragility." Regarding the exhibition title 'The State of Things That Shake,' he noted, "Humans may shake and bend but do not break. Embracing both the negative and positive, the frightening and the beautiful, and living in flow is something I find incredibly beautiful."The exhibition will also feature works by Choi Sung-im and Yoon Soo-kim. Choi presents 'Golden Blanket,' measuring 6.2 by 4.8 meters, crafted from intertwined golden bread ties, while Yoon showcases the 'Surface of the Wind' series, layering cutouts of people's footprints made from blue PVC vinyl, a material used for stroller windshields.Kim Hee-young, the director of the Podo Museum, expressed in the exhibition's planning statement, "I hope this exhibition serves as a space to reflect on the time quietly embedded in things we often overlook and to consider the lives that have endured that time, gently inquiring about each other's well-being."The exhibition runs until October 31, closed on Mondays. Free admission reservations open every Monday at 10 a.m. for the following week and can be made through Naver reservations. 2026-09-01 16:04:00
  • L.A. in BTS Week to celebrate this weeks sold-out shows
    L.A. in 'BTS Week' to celebrate this week's sold-out shows SEOUL, September 1 (AJP) - Los Angeles has declared Sept. 1-8 as "BTS Week" to celebrate the K-pop juggernaut' s return to the city for four sold-out concerts, their agency BigHit Music said on Tuesday. The septet's "Arirang" world tour concerts are set to be held at SoFi Stadium on the outskirts of La La Land on Tuesday, Wednesday, Saturday and Sunday this week. All four shows sold out early. The City of Angels designated the eight-day observance to welcome BTS back to what it calls the "world capital of entertainment" and celebrate their return to SoFi Stadium nearly five years after their "Permission to Dance on Stage" concerts in December 2021. As part of the celebration, Los Angeles City Hall's building is also set to be lit in red on Tuesday, reflecting a key color associated with BTS' fifth studio album, "Arirang," as a gesture of welcome to the group and their fans. At an event attended by city officials and tourism representatives on Monday, the city highlighted BTS' achievements in connecting people through music and promoting Korean culture globally. Los Angeles is the latest city to celebrate BTS' concerts, joining El Paso County in Texas, the state of Illinois and Toronto, which have held similar "BTS Week" or "BTS Day" events around the group's performances. AJP Takeaways • Los Angeles declares Sept. 1-8 "BTS Week" to celebrate BTS’ return to the city for four sold-out "Arirang" world tour concerts at SoFi Stadium. • City Hall will be lit in red Tuesday to welcome BTS and their fans, with Los Angeles officials highlighting the group's role in promoting Korean culture globally. • BTS' Los Angeles concerts mark the group's return nearly five years after their 2021 shows, with other cities including El Paso County, Illinois and Toronto also holding similar BTS celebrations. 2026-09-01 16:01:15
  • Public Agency Debt Expected to Approach 1,000 Trillion Won by 2030
    Public Agency Debt Expected to Approach 1,000 Trillion Won by 2030 Public agency debt is projected to rise to 997.4 trillion won by 2030 due to the expansion of policy projects in housing and energy. In particular, the Korea Land and Housing Corporation (LH) is expected to lead this increase, with its debt soaring to 372.8 trillion won by 2030 as a result of expanded housing supply and increased rental housing projects.On September 1, the Ministry of Economy and Finance reported these findings during the 10th Public Agency Operation Committee meeting, chaired by Deputy Minister Heo Chang. The long-term financial management plan will be submitted to the National Assembly on September 3.The plan covers 37 agencies with assets exceeding 2 trillion won or those with government loss compensation clauses in their founding laws. The Korea Workers' Compensation and the Korea Environmental Industry and Technology Institute have been newly included as target agencies starting this year.The total debt of these 37 agencies is expected to increase by 219.1 trillion won, from 778.3 trillion won in 2026 to 997.4 trillion won in 2030. The debt ratio is also projected to rise from 208.2% to 216.6% during the same period.LH is the main driver of this overall debt increase. Its debt is anticipated to grow by 175.3 trillion won, from 197.5 trillion won in 2026 to 372.8 trillion won in 2030. The debt ratio is expected to rise from 250.6% to 351.2%, an increase of 100.6 percentage points.To expand housing supply, LH plans to significantly increase new housing construction and continue its rental housing projects in line with demand. This will likely lead to a greater financial burden due to the increased volume of rental housing to manage.Excluding LH, the debt of the remaining 36 agencies is expected to rise by 43.9 trillion won, from 580.7 trillion won in 2026 to 624.6 trillion won in 2030. However, their debt ratio is projected to improve from 196.8% to 176.2%, a decrease of 20.6 percentage points.The government and public agencies are committed to expanding policy projects while also improving financial soundness. Key initiatives include LH's rapid housing construction and rental expansion, early establishment of energy highways for stable power supply, and increased investment in renewable energy. Support for small businesses and venture companies will also continue.Major agencies such as Korea Electric Power Corporation, LH, and the Korea Expressway Corporation plan to enhance policy investments while also pursuing financial improvement efforts through expenditure restructuring and revenue enhancement.The government will encourage agencies that require focused financial management to enhance their investment capacity and strengthen evaluations of compliance. During the preliminary feasibility study process for large-scale projects, the appropriateness of investment costs will be closely examined to prevent financial leakage.Deputy Minister Heo Chang emphasized, "As the financial conditions of public agencies are expected to deteriorate in the future, each agency should strengthen monitoring of financial risk factors such as exchange rates and oil prices, and continuously identify and implement self-improvement efforts."* This article has been translated by AI. 2026-09-01 16:00:24
  • IMBOX CEO Offers Solutions for Vacant Commercial Spaces
    IMBOX CEO Offers Solutions for Vacant Commercial Spaces As vacancies in commercial real estate, including retail spaces and knowledge industry centers, continue to persist, there is a growing movement to repurpose these empty areas. Self-storage, driven by rising living costs and an increase in single-person households, is emerging as a new use for commercial properties.Nam Seong-hoon, CEO of IMBOX, recently told Aju Economy, "Self-storage is not heavily dependent on location or market conditions, so it can be established in areas with high vacancy rates. It can be one of the solutions to the vacancy problem."Nam's decision to enter the self-storage business stemmed from a simple experience. Near the end of his college years, he left his belongings at a friend's house, only to be asked to retrieve them quickly. This led him to realize that there was a need for temporary storage space for individuals, particularly for single-person households and students.He had previously gained experience in various ventures, including startups and online shopping platforms. However, he recognized the limitations of online platforms, which struggle to generate revenue and grow without external investment. While searching for a business model that combined online and offline elements, he encountered the self-storage market abroad."In the U.S. and Japan, this business had already become a significant industry, but at that time, there was no well-established market in Korea," Nam said, which motivated him to start his own company.The name IMBOX originated from the initial business model, which involved storing customers' belongings in boxes. In 2015, he opened the first storage facility in a basement space in Samjeon-dong, Songpa-gu, Seoul. By taking advantage of relatively low rental costs, he stored items sent by customers in boxes on shelves.The initial customer base consisted mainly of single-person households and students. People needing temporary storage before moving or students vacating dorms would send their belongings via courier, which IMBOX would then store and later return to the desired location. However, after about seven to eight years of stagnation until 2022, Nam felt the limitations of the business.The breakthrough came unexpectedly from the real estate market. Since self-storage requires initial costs for facilities and rent for each new location, rapid expansion was challenging. Nam then focused on the issue of vacancies in commercial real estate.He devised a model where landlords with vacant properties would cover the facility costs, allowing IMBOX to operate the space and share the profits. He promoted the idea of opening self-storage locations to landlords through a blog, leading to the swift signing of the first contract.The first location opened in Nonhyeon, Incheon. At that time, the concept of self-storage was unfamiliar, leading to a situation where family members of contract signers requested to cancel the contracts. Nam noted, "People were not well aware of the self-storage business itself, but now the market atmosphere has completely changed."Currently, IMBOX operates 280 locations nationwide. Nam emphasized that self-storage is less dependent on location or market conditions compared to traditional commercial facilities.He predicts that the issue of vacancies in commercial real estate will worsen. Many commercial facilities and knowledge industry centers developed during the construction boom remain unoccupied, while the demand for tenants continues to decline.Conversely, the environment supporting self-storage demand is expanding, particularly due to rising living costs and the trend of downsizing living spaces.Nam explained, "In the past, moving to a larger home was natural, but now it has become difficult due to the burden of living costs. As people downsize their homes, they need to reduce their belongings, but they cannot simply throw everything away, leading to an increased demand for personal storage."Profitability is another key focus for IMBOX. Nam stated that the company operates primarily on its own capital without external investment, achieving an average annual return of nearly 30%.IMBOX's business model aims to minimize facility investment costs. By utilizing door locks and QR code access systems, they have reduced the need for large-scale investments required for full automation. In contrast, some competitors have incurred higher costs due to significant investments in app development and automation systems, according to Nam.IMBOX aims to secure a significant market share within six to twelve months after opening a new location, with a goal of achieving stable market share within one to two years. Nam explained that they expand according to demand, opening additional locations when the occupancy rate in nearby spaces exceeds 80%.However, as the self-storage market grows, increased competition is an inevitable challenge. If competitors cluster in prime locations, profitability for individual locations may decline.From a regulatory perspective, Nam mentioned that future fire safety regulations could impact business expansion. However, he noted that IMBOX's storage facilities currently use less flammable materials and electricity than typical restaurants or residential buildings, and are equipped with heat and smoke detection sensors to reduce fire risks.IMBOX aims to secure 400 locations by the end of this year and expand to 1,000 locations nationwide by 2029. The company plans to achieve sales of 100 billion won and an annual profit of 30 billion won, with long-term goals of acquiring assets through funds.Nam concluded, "The self-storage business is not just about placing storage units in empty spaces; it connects the changing residential environment with the commercial real estate market. As both the vacancy issue and the shortage of living spaces emerge simultaneously, the market will continue to grow." 2026-09-01 15:56:00
  • South Koreas Defense Budget Exceeds 70 Trillion Won for the First Time
    South Korea's Defense Budget Exceeds 70 Trillion Won for the First Time The South Korean government plans to submit a defense budget proposal for 2027 amounting to 73.3 trillion won, an 8.2% increase from this year's budget of 67.7 trillion won. This marks the first time the country's defense budget has surpassed 70 trillion won since its establishment. The increase rate of 8.2% is the highest since 2008.The budget emphasizes a bold transition from a personnel-centric structure to a technology-driven military, focusing on the early acquisition of key capabilities for the transfer of wartime operational control and the expansion of independent defense capabilities. Notably, the defense improvement budget for weapon purchases and advanced technology development has surged by 13.8% to 22.7 trillion won compared to the previous year.'Core of Independent Defense' Nuclear Submarine Project Officially Begins... 6.56 Trillion Won Allocated for KF-21 ProductionA key highlight is the official launch of the nuclear submarine project. The government will commence this project in 2027 to strengthen the foundation of independent defense based on domestic technology and capabilities. Additionally, production of the KF-21, a core asset for the Air Force, will accelerate. The budget for aircraft projects has been significantly increased by 36.9% to 6.57 trillion won to support initial production and ensure smooth follow-up production.Furthermore, the military will expedite the operational readiness of critical assets such as medium-altitude reconnaissance unmanned aerial vehicles (MUAV) and long-range surface-to-air missiles (L-SAM) to counter North Korea's nuclear and missile threats. The establishment of a new military information distribution system for the Combined Forces Command and upgrades to communication equipment will greatly enhance the South Korean military's joint operational command capabilities.Defense AI Budget Increases by 125.6%... Acquisition of Swarm Drones, Kamikaze Drones, and Laser WeaponsThe budget for defense artificial intelligence (AI), which is crucial for future warfare, has been increased by 125.6% to 361 billion won from 160 billion won last year. Investments will be made in enhancing the scientific border surveillance system, introducing new AI ground surveillance sensors, and developing unmanned surface vessels and multi-legged robots to perform dangerous missions in place of soldiers.To address the significant reduction in personnel, a physical AI pilot project will be implemented in transportation and base security areas. Intensive investments will also be made in building drone and counter-drone capabilities, proven effective in the Ukraine war. Research and development of swarm drones will commence, and various types of drones, including medium-range kamikaze drones and small attack drones, will be expanded for diverse missions.Addressing Decrease in Military Resources... Regular Reserve Forces to Expand by 7,000, Junior Officer Treatment to ImproveIn response to the decrease in military resources due to the 'population cliff,' the military will begin restructuring its personnel. To ensure the stable utilization of skilled reserve forces, the number of regular reserve forces will be increased from 3,700 to 7,000. Compensation for reserve training will be raised, a new scientific mobilization training center will be established, and a system for utilizing civilian medical personnel during training will be introduced.In non-combat areas, the military will pilot the use of civilian personnel to allow active-duty soldiers to focus on their core combat missions. Significant improvements in the treatment and living conditions for junior officers are also included. The basic pay for mid-level lieutenants and sergeants will be increased by 5.9%, and the short-term service incentive for non-commissioned officers will rise from 10 million won to 12 million won. A new 'matching savings program' for short-term service non-commissioned officers will also be established to support savings over three years.Support for interest on jeonse loans for non-resident officers will be expanded, and the support standard will be raised, while the monthly meal allowance for officers living off-base will increase to 160,000 won. Ongoing improvements to aging barracks and officer accommodations will continue. Training on legal obligations such as gambling and drug prevention, as well as human rights, which were previously handled by officers, will be outsourced to specialized civilian institutions to enhance the effectiveness of education and reduce the burden of preparation.Investments will also be expanded to foster future defense technologies and the defense industry ecosystem, securing defense technology sovereignty. R&D investments in defense semiconductors will be increased to proactively secure key semiconductor technologies, while efforts will be made to strengthen domestic capabilities in core aviation technologies and enhance future defense technology competitiveness. Support for innovative defense companies will be increased, and assistance for overseas expansion and exports will be expanded to establish a virtuous cycle from technology development to practical application and export. Additionally, to enhance public service experience, personalized military service consultations using AI and digital technologies will be provided, and administrative tasks related to reserve training, previously divided between the Ministry of National Defense and the Military Manpower Administration, will be unified under the Military Manpower Administration to promote a comprehensive management system. 2026-09-01 15:56:00
  • 2027 Budget Proposal: South Koreas Food and Drug Administration Allocates 882.9 Billion Won for Drug Management and AI Safety Enhancements
    2027 Budget Proposal: South Korea's Food and Drug Administration Allocates 882.9 Billion Won for Drug Management and AI Safety Enhancements The Food and Drug Administration (FDA) of South Korea has proposed a budget of 882.9 billion won for the upcoming year. The agency plans to focus its funding on managing drug addiction, transitioning food safety systems to artificial intelligence (AI), and supporting regulations for biopharmaceuticals.On September 1, the FDA announced that its budget for 2027 is a 6.1% increase from this year's 832 billion won. The budget will be finalized after review and approval by the National Assembly.The budget is allocated across four main areas: ensuring safe food and a healthy eating environment, digital and AI transformation of food safety systems, enhancing global competitiveness of K-food and drug products, and promoting safe daily living related to food and drugs.The largest portion, 204.4 billion won, is dedicated to ensuring safe food and a healthy eating environment. In response to the rapid distribution of agricultural products due to the expansion of online shopping and early morning deliveries, the FDA plans to establish one rapid inspection center each in the Gyeongsang and Jeolla regions. This initiative aims to filter out substandard agricultural products before delivery. The number of inspections for imported food products will also increase to 10,000, with enhanced management of potentially harmful products, including those containing narcotic substances.The FDA will invest 70.8 billion won in the AI transformation of its food safety management system. The budget for integrating an AI-based food information system will rise significantly from 800 million won this year to 11.5 billion won next year. The plan includes consolidating 16 types of food information systems into an AI framework to automate administrative tasks and provide real-time dietary information to consumers. The agency also intends to offer a 24-hour regulatory consultation service to the industry.Funding for drug-related initiatives will also increase. The FDA has raised its budget for strengthening drug safety management from 9.7 billion won this year to 11.9 billion won next year, and allocated 17.8 billion won to support anti-drug campaigns. Notably, 4.6 billion won has been earmarked for establishing a 'Drug Addiction Management System' to integrate the treatment and rehabilitation histories of drug addicts. The system will utilize AI trained on counseling data to identify individuals at risk of relapse early and ensure continuous support throughout the legal and treatment processes.The budget also includes support for the pharmaceutical and biopharmaceutical industries, with 175.2 billion won allocated to enhance the global competitiveness of K-food and drug products. The FDA will invest 5.8 billion won to support regulatory measures for contract development and manufacturing organizations (CDMOs) in the biopharmaceutical sector. Additionally, 4.8 billion won will be allocated for regulatory technology support in global drug approval processes, and 4.9 billion won for establishing quality certification standards for biopharmaceutical raw materials.Support for the Rare and Essential Medicines Center will increase from 7.5 billion won this year to 8 billion won next year. The budget will also include 5 billion won for research and development aimed at ensuring stable supply of essential medicines, which often face production and distribution challenges due to low profitability.The FDA stated, "Once the budget is finalized through the National Assembly's review and approval, we will diligently pursue key national tasks and policies to protect public health and safety."* This article has been translated by AI. 2026-09-01 15:52:10
  • DAXA Uncovers Four Unregistered Overseas Cryptocurrency Exchanges, Refers to Police
    DAXA Uncovers Four Unregistered Overseas Cryptocurrency Exchanges, Refers to Police 디지털자산거래소 공동협의체 닥사(DAXA)가 금융당국에 신고하지 않은 채 국내 이용자를 대상으로 영업해 온 해외 가상자산거래소 4곳을 적발해 경찰에 수사를 의뢰했다. 닥사는 미신고 해외 가상자산거래소 4곳의 국내 불법 영업 정황을 확인하고 지난달 31일 경찰에 수사를 의뢰했다고 1일 밝혔다. 현행 특정 금융거래정보의 보고 및 이용 등에 관한 법률(특금법) 제7조에 따르면 해외에 서버나 본사를 둔 가상자산사업자라도 국내 이용자를 대상으로 영업할 경우 금융정보분석원(FIU)에 가상자산사업자로 신고해야 한다. 신고하지 않고 영업할 경우 5년 이하의 징역 또는 5000만원 이하의 벌금에 처할 수 있다. 닥사가 해당 거래소들의 웹사이트와 모바일 애플리케이션 등을 조사한 결과 주요 위법 정황이 다수 확인됐다. 구체적으로는 웹사이트와 앱에서 공식 한국어 서비스를 제공하거나 가상자산 거래 가격을 원화(KRW)로 환산해 표시했다. 또 '혜택(리워드)센터' 등을 운영하며 로그인이나 입금, 거래량 등에 따라 테더(USDT)와 포인트 등을 지급하는 방식으로 국내 이용자를 유치한 것으로 파악됐다. 미신고 해외 거래소는 국내 금융당국의 관리·감독 대상에서 벗어나 있어 자금세탁방지(AML)와 이용자 보호 체계가 상대적으로 취약하다. 출금 중단이나 일방적인 서비스 종료, 해킹 등의 사고가 발생하더라도 국내 법 테두리 안에서 피해를 구제받기도 어렵다. 김재진 닥사 상임부회장은 "서버나 본사가 해외에 있더라도 국내 이용자를 대상으로 영업한다면 명백히 국내 특금법 준수 대상"이라며 "앞으로도 불법 사업자로 인한 시장 혼란을 예방하고 건전한 거래 질서 확립에 앞장서겠다"고 강조했다. 닥사는 앞서 지난 6월에도 불법 장외거래소 8곳과 국내 이용자를 대상으로 영업한 미신고 해외 거래소 4곳 등 총 12곳을 적발해 경찰에 수사를 의뢰한 바 있다.* This article has been translated by AI. 2026-09-01 15:52:00
  • China Accused of Downplaying Flood Damage in Nepal-Tibet Region
    China Accused of Downplaying Flood Damage in Nepal-Tibet Region Claims have emerged that Chinese authorities are downplaying the extent of damage caused by recent floods in the Nepal-China border region, which have resulted in thousands of deaths and missing persons.According to the Guardian on September 1, the International Campaign for Tibet (ICT) cited local sources indicating that the actual damage may be significantly greater than what the Chinese government has reported, with at least 300 homes reportedly destroyed. As of August 29, Chinese authorities announced that in Lhoka City, Tibet, 16 people had died and 546 were missing, with 27 buildings collapsed.Human rights organizations and foreign media have pointed out that there has been a strong information control, with little footage or photographs from the disaster site and testimonies from survivors and families of the missing being made public. The BBC noted that foreign journalists have limited access to Tibet, forcing reliance on state media reports, which focus more on rescue efforts than the reality of the disaster.In response, the Chinese government denied the allegations, asserting that it is transparently and promptly releasing damage information.Meanwhile, Chinese authorities have been cracking down on the spread of 'fake news' related to the floods, recently announcing administrative penalties against ten internet users for disseminating claims that over 3,000 people had died. 2026-09-01 15:52:00
  • KOSPI Holds Above 6830 Amid Semiconductor Gains Despite Middle East Tensions
    KOSPI Holds Above 6830 Amid Semiconductor Gains Despite Middle East Tensions The KOSPI index closed higher on Monday, buoyed by strong performances from major semiconductor stocks like Samsung Electronics and SK Hynix, despite a dip to the 6700 range due to renewed military tensions between the U.S. and Iran. In contrast, the KOSDAQ fell over 1% amid selling by foreign and institutional investors.According to the Korea Exchange, the KOSPI finished at 6835.80, up 15.78 points (0.23%) from the previous trading day. The index started lower, dropping to around 6732 during the day, but recovered in the afternoon.Investor sentiment was initially dampened by escalating geopolitical tensions in the Middle East following the resumption of military conflict between the U.S. and Iran. Rising international oil prices and increasing U.S. Treasury yields also contributed to the cautious mood. However, net buying from other corporations and strong semiconductor stocks helped the KOSPI rebound.In the securities market, individuals, foreigners, and institutions all showed a selling bias. Individuals sold a net 539.8 billion won, foreigners 491.9 billion won, and institutions 634 billion won.Among the top market capitalization stocks, semiconductor shares performed well. Samsung Electronics closed at 261,000 won, up 0.38%, while SK Hynix rose 1.14% to 1,693,000 won. Samsung Electronics preferred shares (up 2.04%) and SK Square (up 2.89%) also saw gains.Strong semiconductor exports in August supported investor sentiment. According to Daishin Securities, domestic semiconductor exports last month surged 209% year-on-year to a record high of $46.65 billion.Financial stocks also showed strength, with Samsung C&T rising 3.72%, Shinhan Financial Group up 2.02%, and Samsung Life Insurance increasing 1.14%. Conversely, Hanwha Aerospace (-3.99%), LG Energy Solution (-2.91%), Samsung Electro-Mechanics (-1.92%), KB Financial Group (-1.21%), and Hyundai Motor (-0.74%) all declined.The KOSDAQ index, however, diverged from the KOSPI, closing down 13.04 points (1.56%) at 821.25. While individuals bought a net 433.8 billion won, foreign and institutional investors sold a net 151.5 billion won and 274.8 billion won, respectively, pulling the index down.Most of the top market capitalization stocks on the KOSDAQ also faced declines. Alteogen (-2.11%), EcoPro (-4.49%), EcoPro BM (-3.81%), Rainbow Robotics (-2.39%), HLB (-4.35%), and Pharma Research (-2.82%) all fell. Peptron plummeted 9.66%, while HPSP rose 1.59%.Lee Kyung-min, a researcher at Daishin Securities, noted, "While net buying from other corporations helped the KOSPI maintain a slight gain, ongoing external uncertainties have continued to dampen overall market sentiment. The strong semiconductor exports supported gains in large-cap stocks like Samsung Electronics and SK Hynix, but the number of declining stocks outnumbered those that rose, limiting the overall increase."* This article has been translated by AI. 2026-09-01 15:48:00
  • 2026 Pilot Day Celebrated; Association President Pledges Support for Maritime Nation
    2026 Pilot Day Celebrated; Association President Pledges Support for Maritime Nation The '2026 Pilot Day' event took place on September 1 at the Diamond Hall of The Plaza Hotel in Seoul, attended by over 150 participants, including shipping industry officials, current and former bureaucrats from the Ministry of Oceans and Fisheries, and members of the National Assembly.Since its inception in 2022, Pilot Day has been celebrated to promote and encourage the activities of South Korean pilots, who have been safely and efficiently guiding ships since the formal establishment by pilot Yu Hang-ryeol at Incheon Port in 1937.In his commemorative speech, Jo Yong-hwa, President of the Korean Pilot Association, emphasized that 99.7% of the country’s import and export cargo is transported by sea, highlighting the critical role and responsibility of pilots.“Our country is almost an island nation, with nearly all of our import and export cargo, 99.7%, being transported by sea,” Jo said. “Pilots are dedicated to ensuring the safety of vessels and enhancing port efficiency, working tirelessly every day of the year with a sense of mission to contribute to the Korean economy.”Jo further stated, “For our country to truly become a maritime power, the shipbuilding industry, shipping industry, and the pilotage sector must work together. Training excellent maritime personnel is crucial, and our association will do its utmost to support this effort.”Since 2009, the Pilot Association has donated over 1% of its total pilotage fee revenue to scholarship and social contribution projects, accumulating a total of 20 billion won to date.The event was attended by Seo Sam-seok, Chairman of the National Assembly’s Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee; Nam Jae-heon, Vice Minister of Oceans and Fisheries; and Park Jeong-seok, President of the Korean Shipping Association, among others. They expressed their gratitude for the hard work of pilots and emphasized the importance of their role in maritime safety.Park Jeong-seok remarked, “Since the beginning of Korean shipping, the shipping and shipbuilding sectors have worked closely together to develop our nation’s shipping industry. I hope we continue to strive for greater growth in the Korean shipping industry.”The ceremony included the presentation of awards from the Minister of Oceans and Fisheries and the Chief of the Coast Guard. The Minister’s awards were given to pilot Seong Jeong-rae from Yeosu Port and pilot Oh Jae-geun from Busan Port for their contributions to safe and smooth vessel operations and high-quality port services.The Chief of the Coast Guard’s awards were presented to pilot Choi Young-hwan from Busan Port and pilot Choi Byeong-seon from Pyeongtaek and Dangjin Ports for their active cooperation with Coast Guard operations and contributions to maritime traffic control.Additionally, the association appointed Jeong Yeon-se as an honorary external pilot for his contributions to the development of the pilotage industry, presenting him with a plaque and a gold pilot badge typically awarded upon retirement. External public service awards were also given to Park Jong-dae, Director of U-Coca Carriers, and Jeong Sang-pil, Head of the Incheon Office of Cheongkyung Shipping.Moreover, pilots Kim Hyun-woo from Busan Port, Lim Hyeong-do from Yeosu Port, and Lim Chang-soo from Pyeongtaek and Dangjin Ports received commemorative plaques for achieving ten years of accident-free pilotage. In the excellence category, Kim Jin-tae from Ulsan Port was recognized, while Um Sang-yong from Ulsan Port received an award for 30 years of service.* This article has been translated by AI. 2026-09-01 15:44:00