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  • Icheon City Completes International Exchange Program for People with Disabilities in Wuxi, China
    Icheon City Completes International Exchange Program for People with Disabilities in Wuxi, China Gyeonggi Icheon City (Mayor Seong Su-seok) announced on August 31 that it successfully completed the '2026 Global Talent Development Program for AI and Semiconductors in Response to Future Industries for People with Disabilities,' held in Wuxi, China, from August 25 to 29.This initiative is part of the city's '2026 Domestic and International Exchange Support Project,' with 15 members from the Icheon branch of the Korea Disabled Information Association participating.The participants visited Wuxi's artificial intelligence and drone company (Wuxi Jingui Intelligent Aviation Co., Ltd.) to explore advanced drone technology and development sites.They also visited welfare facilities for people with disabilities to learn about welfare policies and vocational rehabilitation cases, engaging in communication and exchange with local individuals with disabilities.Wuxi is a high-tech industrial city in southern Jiangsu Province, home to approximately 7.5 million people, and hosts global companies in future industries such as semiconductors, biotechnology, new energy, and smart manufacturing.Notable companies like SK Hynix, AstraZeneca, Bosch, Siemens Energy, Panasonic, Sony, and Tesla have established operations there.Additionally, Wuxi boasts cultural and tourism resources, including the scenic Taihu Lake, Yixing Zisha, and Yangshan peaches. Last year, it was recognized as the first city in China to join the UNESCO Creative Cities of Music network, highlighting its balance of industry and culture.Icheon City and Wuxi have maintained exchanges since signing a friendship agreement in 2005, coinciding with the establishment of SK Hynix's factory in China, marking 21 years of friendship this year.This program is significant as it is the first overseas international exchange initiative targeting people with disabilities in Icheon City's history.Mayor Seong Su-seok stated, "I hope this program provided participants with the opportunity to experience future industries and broaden their perspectives. We will continue to expand inclusive policies that allow various groups to participate in international exchanges."Meanwhile, SK Hynix operates memory production facilities in Wuxi and Dalian, with Wuxi serving as a key hub responsible for approximately 40% of its total production.* This article has been translated by AI. 2026-08-31 11:32:00
  • Kim Seung-won, nominee for Justice Minister, emphasizes urgent need for new criminal justice system
    Kim Seung-won, nominee for Justice Minister, emphasizes urgent need for new criminal justice system Kim Seung-won, the nominee for the next Justice Minister from the Democratic Party, stated on August 31, "The most urgent mission is to ensure the successful establishment of a new criminal justice system in South Korea, which has not changed in 70 years."Speaking to reporters at the National Assembly, Kim expressed, "I feel a heavy sense of responsibility as I have been nominated as the Justice Minister in a government of popular sovereignty."He added, "I will do my utmost to ensure that the Ministry of Justice fulfills its role as a human rights protection agency as defined in the Constitution, particularly in safeguarding the vulnerable in society."Kim emphasized that South Korea is entering a period of significant transformation, stating, "I will work diligently to pass various bills that the Ministry of Justice needs to support, such as those aimed at enhancing foreign investment and revitalizing the financial market, while also gathering social consensus."As a former judge and a lawyer who has engaged in human rights advocacy, he remarked, "I will make every effort to look after and support those in the lower and more challenging parts of society. Ultimately, I will strive to ensure that the people feel that they are the true owners of South Korea as voters."President Lee Jae-myung nominated Kim as the Justice Minister candidate during a cabinet reshuffle involving six ministries the previous day.Kang Hoon-sik, Chief of Staff at the Blue House, described Kim as a former judge and a two-term lawmaker who serves as the secretary of the National Assembly's Legislation and Judiciary Committee. He noted that Kim deeply understands the purpose of reforming the criminal justice system and is expected to prioritize the protection of victims' rights while swiftly implementing new systems.Kim is classified as a strong advocate for judicial reform, arguing for the separation of investigative and prosecutorial powers, as well as the abolition of prosecutors' supplementary investigative authority. He has served as the ruling party's secretary on the National Assembly's Legislation and Judiciary Committee since June 2024.* This article has been translated by AI. 2026-08-31 11:20:00
  • Kumho Petrochemical Group Strengthens Partnership with Weihai City
    Kumho Petrochemical Group Strengthens Partnership with Weihai City Kumho Petrochemical Group met with the Weihai City government in Shandong Province, China, to discuss expanding cooperation in tourism and future industries.On August 27, Kumho Petrochemical Group Chairman Park Chan-goo, CEO Park Jun-kyung, and President Baek Jong-hoon met with Weihai Mayor Kung Pan-ping and other city officials to review the current status of their partnership and discuss future collaboration.Since incorporating Kumho Resort as a subsidiary in 2021, Kumho Petrochemical Group has been operating the Asiana Weihai Country Club (AWCC) in Shandong Province. Following the acquisition, the group has undertaken facility renovations and operational improvements at AWCC, and this meeting was organized to assess the ongoing partnership.Attendees included Chairman Park Chan-goo, CEO Park Jun-kyung, President Baek Jong-hoon, Vice President Ko Young-do, and Executive Director Park Jeom-kyu (co-CEO of AWCC) from Kumho Petrochemical Group, along with Weihai officials including Mayor Kung Pan-ping, Vice Mayor Zhang Shandong, Secretary Ju Yun, Executive Director Wang De-zi, and Liu Wei from the Huanchu District.Chairman Park expressed gratitude for the city government's support of AWCC operations, stating, "I hope that exchanges between Weihai and Korea will become more active alongside the development of China's golf industry." He added, "As Kumho Petrochemical Group focuses on attracting tourists and revitalizing the local economy through continuous investment, I hope the city government will provide unwavering support for our mutual cooperation."Mayor Kung stated, "Weihai City hopes to broaden cooperation with Kumho Petrochemical Group based on advanced manufacturing, new materials, and battery industries, and we will continue to provide comprehensive administrative support to achieve mutual benefits and cooperative growth."Meanwhile, Kumho Resort has seen growth since its integration into Kumho Petrochemical Group. Revenue increased from approximately 70.2 billion won in 2021, the year of acquisition, to 107 billion won last year, marking a 52% rise. Last year's operating profit was recorded at 10.6 billion won.* This article has been translated by AI. 2026-08-31 11:20:00
  • Miyagi Prefecture Proposes Site for SK Hynix Semiconductor Plant Amid Concerns
    Miyagi Prefecture Proposes Site for SK Hynix Semiconductor Plant Amid Concerns Japan's Miyagi Prefecture has proposed a site of approximately 300,000 square meters to SK Hynix as a candidate for a semiconductor factory, engaging in behind-the-scenes efforts to attract the company. This comes as the South Korean government expresses caution over the potential overseas leakage of advanced semiconductor technology. Attention is focused on the ongoing Korea-Japan Chamber of Commerce meeting in Sendai, where Chey Tae-won, chairman of SK Group, is in attendance.According to the Nihon Keizai Shimbun (Nikkei) on August 31, Miyagi Prefecture has presented specific candidate sites to SK Hynix, including a 300,000 square meter area in the Second Sendai Northern Core Industrial Complex in Ohiramu Village, near Sendai. This site is equipped with the necessary water and power infrastructure for a semiconductor factory.The Korea-Japan Chamber of Commerce is holding a meeting in Sendai focused on AI and semiconductors. Although this is a regular event, local interest is heightened due to Chey Tae-won's presence. Yoshihiro Murai, the governor of Miyagi Prefecture, mentioned the possibility of meeting with Chey during a press conference on August 26.Earlier, on August 21, a domestic media outlet reported that SK Hynix is considering building a memory semiconductor factory in Miyagi Prefecture. However, SK Hynix denied that any decisions had been made, stating that it is exploring various options.Miyagi Prefecture has also officially distanced itself from the reports. Governor Murai stated during the August 26 press conference, "We do not know anything officially as Miyagi Prefecture," adding, "This is not a situation I can specifically comment on." He also claimed to be unaware of the August 21 report. However, he acknowledged that he is in contact with semiconductor manufacturers and material companies, stating, "It is a matter between the companies and the prefecture, so we cannot disclose information. The same goes for SK Hynix."Ongoing Speculation About SK Hynix's Expansion into JapanSpeculation about SK Hynix's expansion into Japan has surfaced multiple times, with Kanto, Hokkaido, and Kyushu also mentioned as potential sites. Local governments are eager to attract such significant investments, which could lead to job creation.The backdrop for discussions about SK Hynix's potential factory in Japan is the increasing demand for memory due to the rise of AI. The rapid growth of AI data centers has created an urgent need for expansion. Chey Tae-won has predicted that the shortage of memory semiconductors will continue until 2030. Establishing a production base in Japan would also allow SK Hynix to connect with globally competitive Japanese semiconductor equipment and material companies.The concentration of production facilities in South Korea is another factor driving the consideration of a Japanese expansion. This would help mitigate risks associated with production disruptions due to potential conflicts on the Korean Peninsula or natural disasters. In a June interview with Nikkei, Chey stated, "Japan has a well-established semiconductor ecosystem, making it a strong candidate location."Nikkei identified the approval issue from the South Korean government as a major variable in the construction of SK Hynix's factory in Japan. South Korea designates semiconductors as a national strategic industry, and advanced semiconductor-related technologies are managed as 'core national technologies.' Establishing production facilities overseas using these technologies requires government review.The stringent review process is primarily due to concerns over technology leakage. The semiconductor industry generally views that obtaining government approval for overseas production of cutting-edge AI products is unlikely, according to Nikkei. Even if SK Hynix pushes for a factory in Japan, the key variable will be what level of products and processes can be produced overseas.U.S. Government's Investment PressureAdditionally, pressure from the U.S. government regarding investments adds to the burden. While the South Korean government is cautious about overseas production of advanced semiconductors, the U.S. government is openly demanding increased local production. U.S. Secretary of Commerce Gina Raimondo stated in July at a groundbreaking ceremony for Micron's facility in Clay, New York, that she wants to bring Samsung and SK Hynix to the U.S. to build production facilities, as reported by Bloomberg. While discussing the expansion of investments by both companies in the U.S., she did not disclose specific details. She emphasized that "Micron is leading the way in U.S. investments, and competitors will inevitably follow suit," adding that "President Trump made it clear that businesses should operate in the U.S."Amid this, SK Hynix has already broken ground on its U.S. investment. On August 27, the company held a groundbreaking ceremony for a semiconductor packaging plant in Indiana. The investment is approximately $4 billion, expected to create over 7,000 jobs in collaboration with more than 100 local companies. The ceremony was attended by numerous officials from the U.S. government and local authorities. SK Hynix emphasized that this plant will "open a new future for Korea-U.S. AI cooperation." However, it is important to note that this facility is an assembly and packaging plant, differing from the memory production plant being discussed in Japan.As the need for SK Hynix to expand its overseas production bases grows, the complexities of interests among Korea, the U.S., and Japan regarding the location of new plants are becoming apparent. Additionally, the volatility of the memory semiconductor market and the sustainability of AI demand supporting SK Hynix's expansion plans remain variables. Nikkei suggests that the efforts to attract SK Hynix to Miyagi Prefecture may face challenges, with comments within the Miyagi Prefectural Office indicating that "semiconductors have already become an international issue, and the future is uncertain."* This article has been translated by AI. 2026-08-31 11:20:00
  • Korea opens Boston sci-tech hub to sell homegrown biotech
    Korea opens Boston sci-tech hub to sell homegrown biotech SEOUL, August 31 (AJP) - South Korea launched its first government-backed science and technology hub in Boston, planting a beachhead in the world's largest biotech cluster to carry research from its state-funded institutes into global markets. The National Research Council of Science & Technology (NST) and the Korea Institute of Science and Technology (KIST) announced Monday that it officially opened the G-KIC-NST center in Cambridge, Massachusetts on Aug. 28 (local time), designated by the science ministry as its strategic anchor for the region. The hub aims to bridge what officials call the "valley of death," the stretch after a technology transfer where promising research stalls before it reaches products, clinical trials or investors. Experts say Boston's dense web of drugmakers, hospitals, universities and specialist funds offer proving ground. Registered as a Massachusetts nonprofit on July 8, the center operates from the Cambridge Innovation Center and will run with about six staff, alongside an advisory panel of local experts in regulation, markets and investment. At an accompanying seminar, KIST, Huons BioPharma and Huons USA signed a letter of intent on advanced bio cooperation, an early sign of the partnerships the hub hopes to seed. "Securing a technology matters, but so does proving it in world markets and turning it into a business," said Koo Hyuk-chae, first vice minister of science and ICT, pledging policy and institutional backing for the venture. AJP Takeaways • The National Research Council of Science and Technology and the Korea Institute of Science and Technology opened G-KIC-NST, South Korea's first government-backed science and technology hub, in Cambridge, Massachusetts, on Aug. 28, 2026. • The center, registered as a Massachusetts nonprofit on July 8, 2026, operates from the Cambridge Innovation Center with about six staff and targets the commercialization gap between technology transfer and market entry. • KIST, Huons BioPharma and Huons USA signed a letter of intent on advanced bio cooperation at a launch seminar, and the science ministry pledged continued policy and institutional support. 2026-08-31 11:18:12
  • Lees approval rating nosedives below 40%
    Lee's approval rating nosedives below 40% SEOUL, August 31 (AJP) - President Lee Jae Myung's job approval rating fell for a seventh consecutive week, dropping below 40 percent for the first time since he took office, according to a poll released Monday. According to pollster Realmeter's survey of more than 2,500 adults nationwide conducted last week, 38.9 percent of respondents said Lee was doing a good job, down 1.3 percentage points from the previous week and marking the seventh consecutive week of decline. Lee's disapproval rating rose 1.8 percentage points to 58.7 percent, while 2.5 percent of respondents remained undecided. By region, his approval rating fell the most in the central region of Chungcheong provinces, including Daejeon and the administrative city of Sejong, where it dropped 8.5 percentage points. It also fell 4.1 percentage points in the liberal stronghold of Jeolla provinces including Gwangju. By age, support for Lee fell the most among people in their 50s, dropping 7.5 percentage points from the previous week. It also declined among those in their 40s by 3.1 points, those in their 60s by 1.9 points, and those aged 70 and older by 1.6 points. The only age group where his approval rose was among those in their 30s, up 8.8 percentage points. Realmeter cited several factors behind his declining approval rating, including discontent over the administration's real estate policies amid rising housing prices, controversy surrounding Supreme Court justice nominees, growing distrust of police following a recent missing-person case on Jeju Island ahead of this fall's prosecution reform, and internal conflict within the ruling Democratic Party (DP). In terms of party support, 43.1 percent backed the DP, while 37.7 percent supported the main opposition People Power Party (PPP). Among the minor parties, the liberal Rebuilding Korea Party received 4.4 percent-support, followed by the centrist Reform Party at 2.6 percent and the left-wing Progressive Party at 1.4 percent. Some 9 percent of respondents said they supported none of the parties. AJP Takeaways • President Lee Jae Myung's approval rating fell to 38.9 percent, marking its seventh consecutive weekly decline and dropping below 40 percent for the first time since he took office. • Lee's approval declined most sharply in the Chungcheong region and among people in their 50s. Approval fell 8.5 percentage points in the Chungcheong region and 7.5 points among people in their 50s, while support rose 8.8 points among those in their 30s. • The Democratic Party maintained a lead over the People Power Party in party support. The Democratic Party received 43.1 percent support, compared with 37.7 percent for the People Power Party, while the Rebuilding Korea Party, Reform Party and Progressive Party received 4.4 percent, 2.6 percent and 1.4 percent, respectively. 2026-08-31 11:18:04
  • Hot Stock: SK Innovation up 6% on $1 billion U.S. battery deal
    Hot Stock: SK Innovation up 6% on $1 billion U.S. battery deal SEOUL, August 31 (AJP) - Shares of South Korean energy company SK Innovation jumped nearly 6 percent Monday after its battery unit SK on secured a major order for energy storage system (ESS) batteries in the U.S. Shares traded 5.65 percent higher at 123,500 won ($89.57) as of 10:44 a.m. on the KOSPI, standing out in a bearish market with the key index losing nearly 2 percent. The stock opened at 119,300 won and rose as high as 125,300 won in early trading. The rally came after SK on said it signed a five-year deal with U.S. energy storage company NeoVolta Power to supply 9 gigawatt-hours (GWh) of lithium iron phosphate (LFP) pouch battery cells from 2027 through 2031. LFP is a battery chemistry known for relatively low cost, safety and long life. The agreement is estimated to be worth about 1.5 trillion won ($1.09 billion). The cells will be produced at SK on's plant in Georgia, with the long-term order expected to help raise utilization at its U.S. facilities. NeoVolta Power, a subsidiary of NeoVolta, manufactures energy storage systems at a facility in Pendergrass, Georgia. The partnership could expand further, with an additional 9 GWh supply agreement planned for this year. If completed, the two deals would bring the total volume to 18 GWh. The deal also supports SK on's push beyond electric vehicle batteries and into energy storage. ESS systems store electricity and release it when needed, and the battery maker is targeting 20 GWh of new orders in the global market this year. Higher oil prices also provided support for SK Innovation, which operates refining and petrochemical businesses. Brent crude rose about 1.4 percent to $89.38 a barrel in Asian trading Monday after U.S. forces struck Iranian launchers on Larak Island in the Strait of Hormuz. The gains marked a rebound after recent pressure on the stock. SK Innovation said on Aug. 25 that it would absorb SK IE Technology (SKIET), a battery materials subsidiary it spun off in 2019. Shares fell for two consecutive sessions following the announcement before recovering some of the losses. AJP Takeaways • SK Innovation shares traded 5.65 percent higher at 123,500 won ($89.57) as of 10:44 a.m. on the KOSPI. • SK On agreed to supply NeoVolta Power with 9 GWh of LFP battery cells over five years from 2027, with the contract estimated by industry sources at about 1.5 trillion won ($1.09 billion). • SK On plans to produce the cells in Georgia and is pursuing further cooperation that could expand its business with NeoVolta Power to 18 GWh. 2026-08-31 11:17:41
  • KOSPI Recovers to 6,600 Amid Foreign and Institutional Selling
    KOSPI Recovers to 6,600 Amid Foreign and Institutional Selling The KOSPI index fell to the 6,500 range due to concerns over a potential interest rate hike by the U.S. Federal Reserve in September, but later recovered to the 6,600 level. Foreign and institutional investors continued to sell, with major semiconductor stocks like Samsung Electronics and SK Hynix showing weakness.As of 11:09 a.m. on August 31, the KOSPI was down 122.42 points (1.80%) at 6,666.46. It had briefly dropped to 6,547.76 before partially recovering.In the securities market, foreign and institutional investors sold a net 459.7 billion won and 601.2 billion won, respectively, while individual investors bought a net 512.8 billion won.Among the top market capitalization stocks, Samsung Electronics and SK Hynix were trading at 251,750 won and 1,622,000 won, respectively, both showing declines. Other stocks like Doosan Enerbility and Naver also fell, while Samsung SDI saw an increase.The KOSDAQ index also experienced a downturn, recording a drop of 24.98 points (2.98%) to 813.43 at the same time. Individual investors purchased a net 297.6 billion won, while foreign and institutional investors sold a net 137.6 billion won and 158.2 billion won, respectively.The domestic stock market opened lower following hawkish comments from Kevin Warsh, Chair of the U.S. Federal Reserve. Warsh expressed concerns about inflation during the Jackson Hole meeting, raising the likelihood of a rate hike in September. Additionally, the Philadelphia Semiconductor Index fell 3.47% on August 28, adding pressure on domestic semiconductor stocks.Lee Kyung-min, a researcher at Daishin Securities, stated, "Geopolitical tensions are rising again as U.S. forces conducted airstrikes on two rocket launch sites of the Islamic Revolutionary Guard Corps (IRGC) on the southern Hormuz Island in Iran. Given that the IRGC has warned of immediate retaliation, it is important to monitor the situation closely."He added, "China's largest DRAM manufacturer, Changxin Memory Technologies (CXMT), has filed a lawsuit against the U.S. Department of Defense to invalidate its designation as a military enterprise. The semiconductor conflict between the U.S. and China continues amid restrictions on global market access."* This article has been translated by AI. 2026-08-31 11:16:00
  • Musinsa Reports 22.5% Revenue Growth in First Half of 2026, Targets Japan and China
    Musinsa Reports 22.5% Revenue Growth in First Half of 2026, Targets Japan and China Musinsa achieved its highest-ever revenue in the first half of the year, driven by rapid expansion of domestic offline stores and significant growth in overseas markets, including Japan and China. On August 31, Musinsa announced that its consolidated revenue for the first half of 2026 reached 821.7 billion won, a 22.5% increase from 670.5 billion won during the same period last year. This marks the highest performance for the first half of any year. The company's standalone performance, which reflects its core platform business, showed even more pronounced growth. Standalone revenue for the first half was 784.7 billion won, up 30.0% from the previous year. Standalone operating profit also increased by 13.1% to 65.7 billion won. In contrast, consolidated operating profit fell by 11.2% to 52.3 billion won compared to the same period last year. This decline is attributed to rising costs for materials and labor, as well as increased selling and administrative expenses due to larger transaction volumes. A Musinsa representative stated, "We expect that our proactive investments in logistics efficiency and marketing expansion in key regions like Japan and China will contribute to profitability starting next year." The company reported a net loss of approximately 15.6 billion won for the first half. Musinsa explained that this was due to accounting policies recognizing redeemable convertible preferred stock (RCPS) as debt, which reflects interest expenses on the books but does not indicate actual cash outflow. The key drivers of growth in the first half were the offline and global businesses. In the second quarter, Musinsa opened 12 new offline stores, including 10 in South Korea and 2 overseas. In April, it launched the Musinsa Standard Shanghai Xinyubai and Hangzhou Hanglong Plaza stores in China. In South Korea, the company is expanding its offline presence, particularly through large stores. The 'Musinsa Mega Store Seongsu,' which opened in April, recorded cumulative sales of approximately 10 billion won within just 68 days. The newly introduced sneaker specialty store 'Musinsa Kicks' also surpassed 1 million visitors across its two locations in Hongdae and Seongsu within eight months. Musinsa's global online business is also rapidly expanding. In the second quarter, transaction volume for the Musinsa Global Store, which operates in 13 regions including Japan, the U.S., and Thailand, increased by over 143% compared to the same period last year. Looking ahead, Musinsa plans to continue its aggressive expansion both domestically and internationally in the second half of the year. In September and November, it will open standalone 'Musinsa Beauty' stores, each covering 400 pyeong, in Hongdae and Seongsu, respectively. In the fourth quarter, it will debut both Musinsa Standard and Musinsa Beauty in Jeju, the first of its kind in the region. Internationally, Musinsa will target the Japanese and Chinese markets simultaneously in October. In Osaka, Japan, it will operate a large pop-up store featuring over 80 K-fashion and K-beauty brands for two weeks starting in late October. In Shenzhen, China, it plans to showcase a Musinsa store featuring K-fashion brands alongside its private label, Musinsa Standard. A Musinsa representative added, "In the second half, we will continue to support the global growth of our partner brands and strive to provide a fashion shopping experience that blurs the lines between online and offline."* This article has been translated by AI. 2026-08-31 11:16:00
  • Hanwha Aerospace Successfully Exports K9 Self-Propelled Howitzer to Spain
    Hanwha Aerospace Successfully Exports K9 Self-Propelled Howitzer to Spain Hanwha Aerospace has successfully exported its K9 self-propelled howitzer to Western Europe for the first time. On August 28, Hanwha Aerospace signed an export contract with Spanish defense company Indra Sistemas for the K9 howitzer, the company announced on August 31. Details regarding the quantity, contract amount, and duration of the export remain confidential due to business secrecy. These details will be disclosed in accordance with relevant regulations once the confidentiality is lifted. However, the company confirmed that a 20% advance payment was made following the contract signing, with an additional 5% to be paid within the year. This contract is significant as it marks the first export of the K9 howitzer to Western Europe. Previously, contracts had primarily been established in Northern and Eastern Europe. With this deal, the number of countries operating the K9 has increased to 11. The K9's performance and reliability have been reaffirmed through this contract. The platform's comprehensive competitiveness, including firepower, mobility, survivability, and operational and maintenance efficiency, has been validated in the Spanish market through the operational experience of several European countries. * This article has been translated by AI. 2026-08-31 11:12:00