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Korean Air to Operate Special Mileage Flights from Gimpo to Jeju for Holidays Korean Air announced plans to operate special mileage flights on the Gimpo to Jeju route to accommodate travelers during the Chuseok, National Foundation Day, and Hangeul Day holidays.The special flights will run a total of 20 times, offering approximately 3,160 seats, during the following holiday periods: from September 24 to 27 for Chuseok, October 3 to 5 for National Foundation Day, and October 9 to 11 for Hangeul Day. Boeing 737-8 aircraft will be used for these flights.The Gimpo-Jeju route is one of the most popular for customers using bonus tickets. Korean Air aims to meet the increased demand for flights to Jeju during the holidays while enhancing the options and convenience for customers using mileage.Details on the flight schedule and reservations for the special mileage flights can be found on the Korean Air website and mobile app.A Korean Air representative stated, "With the expected rise in travel demand to Jeju during the holidays, including Chuseok, National Foundation Day, and Hangeul Day, we have arranged special flights on the Gimpo-Jeju route to allow customers to use their mileage more conveniently. We will continue to expand opportunities for customers to utilize their mileage in various ways."* This article has been translated by AI. 2026-09-01 09:40:00 -
ZKAR Expands Sales Network with New Showrooms in Gangdong and Dongdaemun ZKAR has opened new showrooms in the Seoul metropolitan area as part of its efforts to expand its sales network. ZKAR's official dealer, GK Mobility, announced on September 1 the opening of the ZKAR Gangdong Space and ZKAR Dongdaemun Space. The two showrooms will showcase ZKAR's brand philosophy, innovative technology, and competitive product offerings. GK Mobility plans to enhance customer engagement in eastern and northern Seoul while providing a more convenient consultation and vehicle experience. The simultaneous opening of these two spaces establishes key sales hubs connecting Gangnam, Gangdong, and Dongdaemun. This initiative aims to improve customer accessibility across Seoul and strengthen the sales and service network to quickly respond to customer demand in the Honam region through the ZKAR Gwangju House. A GK Mobility representative stated, "We have laid the groundwork for more customers in Seoul to experience ZKAR up close. These spaces will serve as customer touchpoints that go beyond merely displaying and selling vehicles, delivering innovative technology and a premium brand experience." Meanwhile, ZKAR began pre-orders for its first domestic model, the mid-size electric SUV '7X,' in June.* This article has been translated by AI. 2026-09-01 09:36:00
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Korea Securities Depository Donates 100 Million Won to Flood-Affected Areas The Korea Securities Depository has donated 100 million won to assist residents in Geoje and Tongyeong, who have been affected by recent heavy rainfall.On September 1, the Depository announced that it has provided the funds to the Hope Bridge National Disaster Relief Association for recovery efforts and support for those impacted by the flooding.This donation aims to facilitate rapid recovery in the severely affected areas and provide practical assistance to residents as they return to their daily lives.During the Liberation Day holiday, Geoje and Tongyeong experienced heavy rainfall, with up to 900 millimeters recorded, resulting in casualties and damage to infrastructure.The donated funds will be used for emergency relief activities, including the provision of relief supplies, temporary housing, and the restoration of damaged facilities.Yoon Soo, President of the Korea Securities Depository, expressed his condolences to those suffering due to the heavy rain, stating, "I hope this assistance helps the affected residents find stability and return to their daily lives as soon as possible."The Depository has consistently engaged in emergency relief and charitable activities during disasters, demonstrating its commitment to social responsibility. Last year, it donated 100 million won each for recovery efforts following wildfires in Gyeongsang Province in March and for nationwide flood relief in August.* This article has been translated by AI. 2026-09-01 09:32:00
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Kim Yong-beom Resigns as Policy Chief, President Lee Restructures Economic Team Kim Yong-beom, the chief policy officer at the Blue House, has resigned after 15 months in office. His departure follows the replacement of six cabinet ministers, including the Deputy Prime Minister for Economic Affairs and the Minister of Land, Infrastructure and Transport, signaling a significant restructuring of the economic team under President Lee Jae-myung. During a briefing on September 1, Blue House spokesperson Kang Yu-jeong announced, "Kim Yong-beom submitted his resignation on August 31, and President Lee accepted it today." The specific reasons for Kim's resignation and plans for his successor have not been disclosed. He was appointed as the inaugural chief policy officer when the Lee administration began and has overseen economic, industrial, real estate, financial, and social policies for the past 15 months. Notably, Kim's resignation comes just two days after President Lee conducted a major cabinet reshuffle. At that time, there were expectations that Kim would remain in his position, maintaining the overall direction of economic and real estate policies. The promotion of current vice ministers to the roles of Deputy Prime Minister and Minister of Land, Infrastructure and Transport was interpreted as an effort to ensure continuity and expedite policy implementation. However, Kim's resignation immediately after the cabinet reshuffle indicates that President Lee's personnel renewal extends beyond government ministries to the Blue House's policy team. The confirmation process for the new Deputy Prime Minister and Minister of Land, Infrastructure and Transport, along with the selection of Kim's successor, is expected to lead to a reassessment of the economic control tower's roles and powers. Kim, a veteran bureaucrat who entered public service through the 30th National Administrative Examination, previously served as the first vice minister of the Ministry of Economy and Finance and as the vice chairman of the Financial Services Commission. In the Lee administration, he led growth strategies centered on AI and semiconductors, three major mega-projects, and a productive fiscal transition. His most significant challenges included issues in the real estate and financial markets. Despite implementing demand suppression measures such as loan regulations, Kim faced criticism as housing prices and rental markets remained unstable. He emphasized the need to increase supply by utilizing public land, closed schools, and industrial areas, and sought to shorten approval periods, but actual supply results fell short of expectations. Additionally, the introduction of single-stock leveraged exchange-traded funds (ETFs) has contributed to increased market volatility, further fueling accountability concerns. The People Power Party has consistently identified Kim as responsible for failures in real estate and financial policies, demanding his resignation and removal. The opposition is likely to characterize Kim's resignation as a delayed accountability for economic policy failures, calling for a shift in President Lee's governance approach. The selection of Kim's successor will likely serve as a barometer for the future direction of the administration's economic policies. 2026-09-01 09:32:00
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Kim Min-seok Discusses 'Mega Ten' on Launch of Democratic Party TV Kim Min-seok, leader of the Democratic Party, appeared on the newly launched official YouTube channel, 'Democratic Party TV,' on September 1, discussing the 'Mega Ten' initiative aimed at fulfilling the national agenda of the Lee Jae-myung administration and addressing internal party issues.On the morning of the launch, Kim was the first guest on the program 'Minty07,' which is an expanded version of the previous official channel 'Deli Minju.' He explained the 'Mega Ten,' a group of ten innovation task forces established on August 25 within the party.Kim announced that Democratic Party TV will serve as a platform for directly reporting various internal issues to party members. He stated, 'I believe it is better to carefully select and discuss the party's principles one by one. I hope Democratic Party TV becomes a broadcast that reflects our party's core values.'He highlighted the 'Mega Ten' as a key organization, outlining its future direction. Kim described it as a central body addressing the three major mega projects and the national agenda of President Lee Jae-myung, asserting, 'It encapsulates the direction our party aims to pursue.'Kim emphasized that to ensure the success of the three mega projects, the party must innovate with a focus on people's livelihoods and foster growth alongside the youth, stating, 'If you understand the Mega Ten, you will grasp the direction the Democratic Party is heading.'Additionally, Kim visited the funeral of Chief Justice Cho Hee-dae's father in Pohang, North Gyeongsang Province, on August 31, where he expressed condolences while maintaining mutual respect. He remarked, 'It is a complicated situation, but I believe we should uphold courtesy. I had a moment to ask questions to Chief Justice Cho and the justices, but we did not discuss political matters. I spoke with the deputy director and the head of the court administration office.'* This article has been translated by AI. 2026-09-01 09:24:00
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Korean Won Falls to 1360s Against US Dollar Amid Geopolitical Tensions The won-dollar exchange rate has dropped to the 1360s.As of 9:17 a.m. on September 1, the exchange rate in the Seoul foreign exchange market is 1,367.3 won per U.S. dollar. The rate was trading at 1,368.0 won as of 6 a.m., down 0.6 won from the previous day's closing price.The exchange rate fell to the 1360s due to the release of export company negotiation volumes the previous day. However, renewed geopolitical tensions in the Middle East have limited further declines.The dollar index, which measures the dollar's value against six major currencies, fell by 0.23% to 99.423, reversing gains made after hawkish comments from Federal Reserve Chair Kevin Warsh.U.S. stocks fell overnight as hostilities resumed between the U.S. and Iran after a month-long pause. The Dow Jones Industrial Average closed down 374.09 points (0.70%) at 53,185.90.The S&P 500 index fell by 25.62 points (0.33%) to close at 7,686.14, while the Nasdaq Composite dropped 31.53 points (0.12%) to finish at 26,370.89.International oil prices surged significantly. West Texas Intermediate (WTI) crude for October delivery rose by 2.83% to $85.76 per barrel, while Brent crude increased by 2.71% to $90.49 per barrel.Today's exchange rate is expected to rise slightly due to renewed geopolitical tensions in the Middle East. Min Kyung-won, an economist at Woori Bank, stated, "Given the resurgence of geopolitical instability in the Middle East and regional bargain-hunting, we expect the rate to hover around 1,370 won. There is a strong possibility of a rebound as perceptions of excessive declines may lead to buying interest."* This article has been translated by AI. 2026-09-01 09:24:00
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LG Energy Solution signs long-term supply deal with US lithium developer SEOUL, September 1 (AJP) - LG Energy Solution (LGES) has signed a long-term supply contract with a U.S. lithium developer, it said on Tuesday. Under the contract with Smackover Lithium, a joint venture formed by U.S. lithium developer Standard Lithium and Norwegian state owned energy company Equinor, LGES will receive a total of 80,000 tons of lithium carbonate over 10 years starting in 2029, when Smackover Lithium begins full-scale production. The amount is enough to make batteries for about 1.8 million high performance electric vehicles capable of traveling more than 500 kilometers on a single charge. Smackover Lithium plans to produce high-quality lithium carbonate in an eco-friendly way by applying direct lithium extraction (DLE) technology to its project in Arkansas to minimize carbon emissions. LGES said the contract will help secure a stable supply of lithium carbonate as demand for the material grows with the rapid expansion of the energy storage system market in North America. The company also said securing local supply chains for key battery cathode materials, including LFP, has become increasingly important. LGES said the contract will help it secure a stable supply of lithium carbonate as demand for the material grows rapidly with the expansion of the energy storage system market in North America. The company said securing local supply chains for key battery cathode materials including lithium iron phosphate (LFP) has become a major task. Lithium carbonate is a key raw material used mainly in LFP and nickel cobalt manganese (NCM) batteries. Along with lithium hydroxide, which is primarily used in high-performance, high-nickel NCM batteries, it is considered a critical mineral for electric vehicles and broader energy transition markets. "We are excited to be entering into this agreement with , one of the world’s leading battery producers with a diverse and global customer base and a presence in many dynamic and growing industry segments," said David Park, CEO of Standard Lithium. "We expect this to be the beginning of a long and mutually beneficial partnership." "The partnership will help strengthen our supply chain by securing critical minerals from North America," said Lee Kang-yeol, an LG Energy Solution executive. "We will continue to offer more competitive products by producing batteries and sourcing raw materials locally in the U.S." LGES has been expanding its manufacturing capacity in North America including at its plant in Lansing, Michigan, which began production in August. AJP Takeaways • LG Energy Solution signed a 10 year lithium carbonate supply contract with Smackover Lithium, securing 80,000 tons of the key battery material starting in 2029. • The lithium carbonate supply will be enough to make batteries for about 1.8 million high performance electric vehicles capable of traveling more than 500 kilometers on a single charge. • The deal will help LG Energy Solution strengthen its North American supply chain as demand for lithium carbonate and energy storage systems grows, while supporting local raw material sourcing in the U.S. 2026-09-01 09:23:27 -
Korea and Company Group Overhauls Corporate Work Platform to Enhance Efficiency with AI Korea and Company Group announced on September 1 that it has completely revamped its common corporate work platform and significantly enhanced AI-based work support features to improve employee efficiency.The group collaborated with Gaon AI, a specialist in AI platforms, to redesign its internal work platform, Arena, and conducted a week-long beta test to evaluate key functionalities in a real work environment.The revamped Arena has expanded into an AI-based work support platform that provides necessary information and functions tailored to employees' roles and work objectives, including automation of repetitive tasks and the creation of customized work bots.Features to reduce the hassle of information retrieval, which frequently occurs during work processes, have also been strengthened. By quickly locating and summarizing various manuals and work information accumulated in key areas such as R&D, sales, marketing, and supply chain management, the platform helps employees save time searching for and organizing relevant information, allowing them to focus more on critical tasks.The use of AI has extended beyond routine tasks to include planning and decision-making. The platform supports the search for market and customer-related information, idea evaluation, and compliance checks, enabling faster review and application of necessary information in work processes.Additionally, an AI automatic translation feature has been implemented to facilitate collaboration among global offices, allowing emails and documents written in different languages to be translated and verified directly within the work platform. Other features include email and document summarization, automatic extraction of to-do items, and support for drafting repetitive tasks.With the recent acquisition of Hanon Systems, Korea and Company Group has completed its portfolio in three major business areas: tires, batteries, and thermal management. The group has been continuously integrating its organization, culture, and infrastructure. Through the Arena overhaul, it has further advanced its common work environment based on AI, enhancing work efficiency and collaboration among subsidiaries in line with its expanded group structure.This initiative is part of the 'Data-AI Driven' management strategy that Chairman Cho Hyun-bum has been promoting. Since 2019, the group has been gradually implementing a digital transformation across the organization, recently broadening the application of AI throughout the entire value chain, including manufacturing, R&D, quality, sales, logistics, and work support.A representative from Korea and Company Group stated, "This overhaul has created an environment where employees can utilize generative AI more broadly in their daily tasks. Under the Data-AI Driven strategy, we will continue to innovate the work environment to ensure that AI utilization leads to improved productivity and execution in actual work."* This article has been translated by AI. 2026-09-01 09:20:20
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Kakao AI Summit 26 to Boost Local AI Ecosystem in Busan Kakao's initiative to foster local artificial intelligence (AI) talent and businesses, known as 'Kakao AI Sail,' will host a technology conference in Busan aimed at revitalizing the regional AI ecosystem.Kakao announced on September 1 that the 'Kakao AI Sail Summit 26' will take place on September 29 at the Busan Port International Exhibition Center (BPEX).The event is designed to introduce the vision and business direction of Kakao AI Sail and to establish a foundation for the growth of local AI companies through domestic and international technology exchanges. Approximately 800 participants, including entrepreneurs, startup representatives, students, and developers, are expected to attend.'Kakao AI Sail' is a private collaboration initiative that combines Kakao Group's technological and business infrastructure with the research and technological capabilities of four major science and technology institutes: Korea Advanced Institute of Science and Technology (KAIST), Gwangju Institute of Science and Technology (GIST), Daegu Gyeongbuk Institute of Science and Technology (DGIST), and Ulsan National Institute of Science and Technology (UNIST). It aims to support the development of local AI talent, startups, and business growth.The conference will feature a keynote presentation introducing the vision and business direction of Kakao AI Sail, as well as its AI infrastructure. Subsequent sessions will share Kakao Group's AI transformation (AX) strategy and industry-specific AI transformation case studies.On the day of the event, a startup program called 'RalphTon' will be conducted for aspiring entrepreneurs, focusing on product development using AI agents. RalphTon is an immersive startup program that enables participants to quickly validate ideas and create demonstrable products within a day. Students from the four major science and technology institutes and local talent will participate to validate the feasibility of actual product development and commercialization.Kim Young-deok, head of Kakao AI Sail, stated, "This conference is an opportunity for AI technology, talent, and industry stakeholders to come together in Busan to collaborate on revitalizing the local AI ecosystem. We will support local companies in advancing into the global market while enhancing the regional AI ecosystem."* This article has been translated by AI. 2026-09-01 09:16:10
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Geopolitical Tensions from U.S.-Iran Conflict Weigh on KOSPI and KOSDAQ Geopolitical tensions have escalated as the U.S. and Iran resume military confrontations, leading to a weak start for the domestic stock market on the first trading day of September. Foreign and institutional investors are both engaging in net selling, causing declines in major semiconductor stocks such as Samsung Electronics and SK Hynix.As of 9:10 a.m., the KOSPI index has fallen by 39.18 points (0.57%) to 6,780.84 compared to the previous trading day.In the securities market, individual investors have made a net purchase of 279.8 billion won. In contrast, foreign and institutional investors have sold a net 124.6 billion won and 179.1 billion won, respectively, contributing to the index's decline.Most of the top market capitalization stocks are experiencing losses. Samsung Electronics is trading at 256,500 won, down 1.35% from the previous day, while SK Hynix has decreased by 0.42% to 1,667,000 won. Other declining stocks include Samsung Electronics preferred shares (-0.59%), SK Square (-1.74%), Samsung Electro-Mechanics (-2.40%), LG Energy Solution (-1.46%), and Hyundai Motor (-1.12%). However, Shinhan Financial Group (1.93%) and Kia (0.31%) are seeing gains.At the same time, the KOSDAQ index has dropped by 5.98 points (0.72%) to 828.31 compared to the previous trading day.Among the top KOSDAQ stocks, Alteogen (-1.30%), EcoPro (-2.41%), EcoPro BM (-2.98%), Rainbow Robotics (-0.98%), Rino Technology (-1.20%), and HPSP (-2.89%) are all down. Conversely, HLB has risen by 1.97%, and Samchundang Pharm is up 0.24%.Overnight, U.S. markets also fell as military confrontations between the U.S. and Iran resumed after a month. The Dow Jones Industrial Average dropped by 0.70%, the S&P 500 fell by 0.33%, and the Nasdaq Composite decreased by 0.12%.The renewed military tensions between the U.S. and Iran have led to rising international oil prices and U.S. Treasury yields, putting pressure on investor sentiment. The Islamic Revolutionary Guard Corps (IRGC) has warned of a strong response to any further U.S. attacks, stating that it maintains over 90% of its missile stockpile in response to the resumption of U.S. airstrikes.Lee Kyung-min, a researcher at Daishin Securities, explained, "The resumption of military clashes between the U.S. and Iran continues to escalate tensions in the Middle East." He also noted that President Donald Trump has reiterated calls for interest rate cuts, emphasizing that the benchmark rate should remain at the lowest levels globally.* This article has been translated by AI. 2026-09-01 09:16:00