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KB Kookmin Bank to Hire 180 Employees in Second Half of 2026 KB Kookmin Bank announced on September 1 that it will hire over 180 employees in the second half of 2026.The bank aims to expand its recruitment of local talent and professionals in information and communication technology (ICT) and ESG (Environmental, Social, and Governance) sectors to secure talent that can respond to the future financial environment.Of the new hires, approximately 160 will be entry-level positions across six categories: UB, military officers (scheduled), certified public accountants, ICT, specialized high schools, and ESG-related growth. The UB category will include corporate finance and asset management, with a commitment to ensure that at least 25% of the total UB hires are local talent.In the ICT sector, the bank will recruit personnel for IT and AI/platform development. Additionally, it will conduct ESG-focused hiring for individuals from underrepresented groups, including people with disabilities, basic livelihood recipients, children from multicultural families, and North Korean defectors. Separately, the bank plans to hire around 20 experienced professionals in specialized roles, such as AI lawyers, through ongoing recruitment efforts.* This article has been translated by AI. 2026-09-01 08:56:00 -
Unionized workers at Hyundai Motor reach wage deal SEOUL, September 1 (AJP) - Unionized workers at Hyundai Motor have reached a wage agreement for this year, ending months of labor tensions that disrupted production at South Korea's largest automaker. In a vote on Monday, 61.55 percent of the 31,166 union members who cast ballots voted in favor of the agreement, the union said on Tuesday. The union has about 39,000 members in total. Under the new wage deal, workers will receive a 100,000 won (US$73) increase in monthly base pay. They will also receive performance bonuses equivalent to 400 percent of their monthly wages, as well as an additional cash payment of 12.7 million won. The agreement also includes a commitment to hire 500 new production workers from the second half of next year through 2028 and to extend their retirement age. The settlement follows a series of strikes by unionized workers during wage negotiations that began in May, resulting in roughly 120 hours of production disruptions including a full day strike last Monday, the union's first 24 hour walkout in a decade. "We will focus all our efforts on production in the second half of the year and make the world's best quality products to repay our customers for their support," the automaker said. AJP Takeaways • Hyundai Motor unionized workers approved a 2026 wage agreement, with 61.55 percent of the 31,166 participating union members voting in favor. • The agreement provides a 100,000 won monthly base pay increase, performance bonuses worth 400 percent of monthly wages and an additional 12.7 million won cash payment. • The agreement ends months of labor tensions that caused roughly 120 hours of production disruptions, including a 24 hour strike that marked the Hyundai Motor union’s first full day walkout in a decade. 2026-09-01 08:44:50 -
Former National Yachtsman Cho Sung-min to Run for OCA Athletes' Commission Former national yachtsman Cho Sung-min is running for a position on the Olympic Council of Asia (OCA) Athletes' Commission.The Korean Sports Council announced on August 31 that Cho has been selected as a candidate for the OCA Athletes' Commission election, which will take place during the 2026 Aichi-Nagoya Asian Games.The OCA, established in 1982 in New Delhi, India, is an international sports organization composed of National Olympic Committees (NOCs) from 45 Asian countries.The OCA Athletes' Commission election will be held from September 19 to October 4 during the 20th Asian Games in Aichi and Nagoya, with voting scheduled from September 20 to October 2. Four athletes will be elected: one each from West Asia (female), Central Asia (male), East Asia (male), and Southeast Asia (female).Cho, representing South Korea in the East Asia male category, will compete against Japan's Naoto Tobe and Taiwan's Chien Chuan-yang (both in athletics). The OCA officially announced the list of candidates, including Cho, on August 26.Cho is a veteran of South Korean yachting, having participated in four Asian Games from 2002 to 2022. He won a bronze medal in the open match race at the 2010 Guangzhou Games, a silver medal in the open match race at the 2014 Incheon Games, and a bronze medal in the mixed 470 event at the 2022 Hangzhou Games. He also competed in the men's 470 event at the 2012 London and 2020 Tokyo Olympics.Currently an active athlete, Cho has served on the Korean Sports Council's Athletes' Commission and the Korean Yachting Association's Athletes' Commission since 2025 and has experience coaching athletes both domestically and internationally.In his campaign, Cho has pledged to strengthen communication between athletes and the OCA, improve athlete rights, welfare, and competition environments, and expand networks among Asian athletes.Cho emphasized, "Based on my experiences across various sports and international competitions, I will listen to the diverse voices of athletes from different countries and disciplines and faithfully convey them in the OCA's policy and decision-making processes."The Korean Sports Council stated, "As an active athlete, Cho can directly represent the voices from the field, and with his extensive experience in international competitions and as an athlete representative, we expect him to contribute to the enhancement of Asian athletes' rights."* This article has been translated by AI. 2026-09-01 08:44:00
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Shinhan Securities Maintains Buy Rating on Sejin Heavy Industries, Lowers Target Price Shinhan Investment Corp. maintained a 'Buy' rating on Sejin Heavy Industries but lowered its target price from 22,000 won to 18,500 won, a decrease of 15.9%. Despite Sejin Heavy Industries achieving record profitability due to an increased share of high-margin LPG tank sales, the firm adopted a conservative outlook, leading to the target price adjustment. Lee Dong-heon, an analyst at Shinhan Investment, noted, "The operating profit margin for the first half of the year reached a record high of 18.8%. While some sales were deferred, the significant increase in operating profit was driven by an improved mix of high-margin LPG tanks." Although the company has secured all LPG tank orders from HD Hyundai Shipbuilding, reducing uncertainty in orders, the outlook for profit improvement is heavily reliant on price adjustments and product mix enhancements rather than increased production volume. This warranted the application of a discount rate. Potential risks include a decrease in shipbuilding orders, quarterly performance volatility, and initial costs from Sejin Vietnam. For the first half of this year, Sejin Heavy Industries reported sales of 180.7 billion won, an 8.1% decrease compared to the same period last year, while operating profit rose by 27.8% to 34 billion won. The operating profit margin reached a record high of 18.8%. In particular, the second quarter saw operating profit soar to 20.4 billion won, a 131.8% increase year-on-year, with the operating profit margin hitting a quarterly high of 21.8%. The increase in profit despite a decline in sales was attributed to a higher contribution from the profitable LPG tank sales. The analyst projected that tank shipments will be concentrated in the second half of the year, especially in the third quarter, forecasting total sales of 415.1 billion won and operating profit of 82.7 billion won for the year.* This article has been translated by AI. 2026-09-01 08:44:00
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U.S.-Iran Conflict Drives Oil Prices and Treasury Yields Higher, Weakens Dollar The renewed military conflict between the United States and Iran has led to a rise in international oil prices and U.S. Treasury yields. As geopolitical tensions in the Middle East escalated, U.S. and European stock markets declined. However, the dollar weakened amid caution ahead of the U.S. employment report.On September 1, the U.S. Central Command reported that it had detected preparations by Iran's Revolutionary Guard to install mines and launch rockets near the Strait of Hormuz, prompting strikes on related facilities. In response, Iran fired missiles at a U.S. military base in Jordan. This marks the first direct U.S. attack on Iran in nearly a month.President Donald Trump warned that he would "obliterate" Iran's key oil export facility on Kharg Island. The U.S. military stated that the attack was a preventive measure to protect the freedom of international trade.Concerns about potential supply disruptions in the Strait of Hormuz, a critical route for global oil transport, caused Brent crude to jump 2.71% to $90.49 per barrel on August 31. The Strait is a vital passage for Middle Eastern oil, and international prices are highly sensitive to military tensions in the region.The rise in oil prices also impacted the Treasury market. The yield on the U.S. 10-year Treasury note increased by 0.03 percentage points to 4.75%. Inflation concerns resurfaced due to rising oil prices. Yields on 10-year bonds in Germany and Japan also rose by 0.05 and 0.03 percentage points, respectively.Stock markets reacted to both the Middle East tensions and rising Treasury yields. The S&P 500 index fell by 0.33%, while the European Stoxx 600 index dropped by 0.62%. The volatility index (VIX), which reflects market anxiety, rose by 3.40%.In contrast, the dollar showed weakness. Typically, the dollar strengthens during times of heightened geopolitical risk, but caution ahead of the U.S. August employment report had a greater impact. The dollar index, which measures the dollar against six major currencies, fell by 0.29% to 99.41. The euro and yen appreciated by 0.3% and 0.2%, respectively. In New York, the won-dollar exchange rate was 1,368.4 won, down 0.2 won from the closing price in Seoul.U.S. Treasury Secretary Scott Basset addressed recent concerns about instability in the Treasury market, stating, "I don't know where the chaos is coming from." He emphasized that while a large fiscal deficit continues, the focus should be on economic growth, arguing that the debt issue should be resolved by increasing growth rates rather than through austerity. He also predicted that the inflation pressures from rising oil prices would gradually ease.In a separate interview, President Trump reiterated that "interest rates are too high," putting further pressure on the Federal Reserve. The market is closely watching whether the U.S.-Iran conflict will lead to actual disruptions in oil transport through the Strait of Hormuz and how the employment data will influence future interest rate decisions.* This article has been translated by AI. 2026-09-01 08:40:00
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Naver Maps Tests Global Map Feature, Sparking Interest Among Users Naver has begun testing a 'global map' feature, allowing users to explore overseas regions within its map app. Although not yet a formal service, the ability to navigate international maps has garnered significant interest online.Recently, users shared the 'global map usage' feature of the Naver Maps app on online communities. By activating the 'laboratory' function in the app, users can zoom in and out of a world map, moving beyond the previously domestic-only map view.The shared video includes a map of Japan, with users noting that as they zoom in, more detailed names of nearby businesses appear.Currently, the functionality available online appears limited to basic map views of overseas areas. Some users have pointed out that, unlike Google Maps, the app does not yet support detailed location information or real-time navigation for international regions.However, Naver Maps does offer features for searching and saving locations, as well as finding routes within South Korea. Users can save locations using a star button, and saved places and routes can be managed in a separate tab.In addition to the global map feature, the laboratory function reportedly includes a feature to quickly release saved locations by long-pressing the star button, as well as applying 'liquid glass' design to the map home and some screens.As news of the overseas map feature spreads, users have commented, “It seems like Google Maps will open in Korea, so they are moving toward the global market,” and “Google Maps is definitely better, but I find the Naver Maps UI more convenient.”One user highlighted the potential for foreign tourists visiting Korea, stating, “The first barrier for traveling in Korea is the map app. Whether it’s Naver or Kakao, it’s essential.”There were also concerns raised about the accuracy and functionality of the overseas map data. One user remarked, “Using Google Maps is fine for landmarks and major locations, but there’s a lack of data for regular restaurants, leading to many inaccuracies when you dig deeper.”Others noted, “This isn’t just about Japan; it’s literally a world map,” and “When renting a car and driving in Okinawa, I found Google Maps inconvenient, so it would be great if Naver Maps became available in Japan.”Conversely, some users criticized the current limitations, stating, “It just shows a simple map. It’s not usable. Navigation doesn’t work.”It remains unclear whether Naver will officially expand this feature to include overseas maps, starting with Japan. However, this experiment indicates that Naver Maps is testing the waters for expanding its functionality beyond domestic services into the international map domain, raising interest in the potential for a formal launch.* This article has been translated by AI. 2026-09-01 08:40:00
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SK Securities: MadUp Set to Benefit from AI Investment Phase, Target Price at 14,500 Won SK Securities analyzed on September 1 that MadUp is expected to benefit as artificial intelligence (AI) investments transition from infrastructure development to revenue generation. The firm set a target price of 14,500 won and rated the stock as a 'buy.'Heo Seon-jae, a researcher at SK Securities, stated in a report that "MadUp is achieving both cost reduction and revenue growth through vertical AI trained on over 1 trillion won worth of advertising data."He added, "Over the past two years, AI investments have focused on infrastructure, which is still accelerating. However, the expansion of capital expenditures is leading to a decline in free cash flow for hyperscalers, shifting market interest from 'investment scale' to 'recovery speed.' The value of AI infrastructure will ultimately be confirmed by companies that generate revenue from it, which is expected to broaden interest in software and service areas that profit from AI applications."He also noted, "The advertising agency industry has a large market size but low growth potential, which presents a significant opportunity for companies that secure a competitive edge in AI. With labor costs accounting for about 80% of expenses in this labor-intensive structure, the cost-saving effects of automation are substantial. Additionally, the existence of quantitative metrics for advertising performance allows for immediate proof of AI advantages, and as market growth is limited, expanding market share directly translates to improved results."He projected that the expected operating profits for this year and next year will be 12.5 billion won (+45.9%) and 22.1 billion won (+77.6%), respectively. He anticipates that the company will enter a phase of significant performance growth due to the influx of large global advertisers, the expansion of small and medium-sized advertisers through AI-managed services (AMS), and the breakeven point in the solutions sector.* This article has been translated by AI. 2026-09-01 08:36:10
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LS Cable & System Proposes Solution to Power Shortages in AIDC Using Superconducting Technology LS Cable & System is accelerating its entry into the artificial intelligence data center (AIDC) infrastructure market by leveraging superconducting technology.On September 1, LS Cable & System announced that it has signed a memorandum of understanding (MOU) for joint business cooperation with the AI Factory Frontier (AFF) consortium, which includes five companies specializing in graphics processing units (GPU), power equipment, cooling, architecture, and business development.The AFF consortium aims to propose integrated solutions to operators by linking the various solutions of its member companies related to AIDC. Participating companies include Naewoo Architects, Aswell AI, Enfield P&D, Woojin Electric, and Iljin E&S.LS Cable & System plans to assess customer power demands and site conditions from the project's initial stages to identify business opportunities. The company envisions a comprehensive proposal for power and communication infrastructure solutions, utilizing superconducting systems for external power networks and bus ducts and optical cables for internal setups.The superconducting system can transmit large amounts of power at a high voltage level of 154kV using only a medium voltage of 23kV. This approach allows for the use of existing substations without the need for new construction, thereby reducing installation space and costs.Member companies of the consortium will also support the overall construction of AIDC based on their respective expertise. Naewoo Architects will handle architectural design, Aswell AI will provide GPU and AI infrastructure platforms, and Woojin Electric will be responsible for power equipment installation. Enfield P&D and Iljin E&S will manage business development and cooling and renewable energy facilities, respectively.* This article has been translated by AI. 2026-09-01 08:36:00
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Bitcoin Stabilizes Around $78,000 Amid Concerns Over U.S. Rate Hikes Bitcoin has stabilized around $78,000 as concerns grow over the possibility of additional interest rate hikes in the United States.As of 8 a.m. on September 1, Bitcoin was trading at $78,675, up 0.37% from the previous day, according to global cryptocurrency market site CoinMarketCap.Last week, Bitcoin surged more than 24%, briefly surpassing $80,000 during trading. However, the momentum has slowed following remarks by Kevin Warsh, Chair of the U.S. Federal Reserve, during his keynote speech at the Jackson Hole Economic Policy Symposium, which heightened caution regarding further rate increases.Warsh stated on August 28 that if inflation does not stabilize at the Fed's target rate of 2%, further action may be necessary.Market participants interpreted Warsh's comments as an indication that the Fed is keeping the door open for additional rate hikes. This increased caution regarding further tightening has weighed on investor sentiment for risk assets, including Bitcoin.Major altcoins showed mixed performance. Ethereum traded at $2,469, up 0.15% from the previous day. In contrast, Binance Coin (BNB) fell 0.39% to $691, and Ripple (XRP) dropped 0.61% to $1.38. The stablecoin Tether (USDT) was trading at $0.9998, down 0.01%.Meanwhile, at the same time, Bitcoin was trading at 10,829,000 won (approximately $79,073) on the domestic exchange Bithumb, a decrease of 0.06% from the previous day. The 'Kimchi Premium' stood at 0.761%, indicating that the price of Bitcoin traded domestically is higher than that in international markets.* This article has been translated by AI. 2026-09-01 08:28:00
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Samsung Electronics Launches Smart Appliance Cashback Program with KEPCO Samsung Electronics is partnering with Korea Electric Power Corporation (KEPCO) to promote efficient energy consumption.Starting September 1, Samsung will operate a two-month pilot program for a 'Smart Appliance Cashback' initiative. The program aims to encourage the use of appliances during peak renewable energy generation hours.The cashback benefits apply when operating four designated appliances—washing machines, dryers, dishwashers, and clothing care systems—between 11 a.m. and 2 p.m. on weekends and holidays. Participants can receive 100 won per kWh of electricity used, with a maximum cashback of 300 won per hour. The accumulated cashback can be applied as a discount on electricity bills or refunded.The program enhances convenience through integration with the SmartThings app. Users can complete their application by clicking the cashback link in the 'Energy' service under the 'Life' tab, followed by agreeing to share device usage data.Additionally, the app's scheduling feature allows users to automatically operate their appliances during the cashback hours.Samsung is also actively expanding its energy partnerships abroad. Recently, it launched a service in collaboration with Italy's Enel, offering customers who purchase washing machines up to 180 kWh of free washing electricity for two years. In the UK, Samsung introduced a 50% discount on weekend electricity rates in partnership with British Gas.In May, Samsung became the first domestic company to sign the European Union's Code of Conduct for Energy Efficiency in Smart Appliances, further solidifying its global energy cooperation efforts.* This article has been translated by AI. 2026-09-01 08:24:00