Latest by
-
July Industrial Production Stabilizes as Equipment Investment Rises 7.5% Amid Consumer and Construction Weakness Last month, overall industrial production remained stable compared to the previous month, while retail sales and equipment investment showed mixed results.According to the 'July 2026 Industrial Activity Trends' report released by the National Data Agency on August 31, the overall industrial production index (seasonally adjusted) stood at 120.2 (2020=100), unchanged from the previous month (0.0%). Compared to the same month last year, it increased by 3.1%.By sector, mining and manufacturing production rose by 0.2% from the previous month, bolstered by strong performance in electronic components (20.7%), while public administration saw a 10.4% increase. In contrast, the service sector, which reflects actual economic activity, experienced a 1.3% decline from the previous month due to poor performance in finance and insurance (-4.8%).The retail sales index fell by 2.4% from the previous month, as sales of durable goods, including automobiles (-7.7%), semi-durable goods (-1.4%), and non-durable goods (-0.1%), all decreased. Year-over-year, retail sales also dropped by 0.8%, indicating a continued decline in consumer sentiment.On the investment front, equipment investment saw a surprising rebound of 7.5% from the previous month, driven by increases in machinery for semiconductor manufacturing (4.2%) and transportation equipment (15.4%). Compared to the same month last year, equipment investment surged by 24.9%.Construction performance, as indicated by construction output, decreased by 1.1% from the previous month, primarily due to a decline in building construction (-7.4%). Additionally, new construction orders plummeted by 34.0% compared to the same month last year, raising concerns about a potential downturn in the construction sector.The coincident composite index, which reflects the current level of economic activity, rose by 0.8 points to 101.2, while the leading composite index, which predicts future economic conditions, increased by 0.4 points to 104.2. 2026-08-31 08:48:00 -
Tire Bank Honors Firefighter as 53rd 'Fire Hero' for Lifesaving Service Tire Bank is taking the lead in expressing gratitude to firefighters dedicated to public safety. On August 31, Tire Bank announced the selection of Captain Kwon Jeong-hyeon from the Daegu Chilseong 119 Safety Center as the 53rd 'Fire Hero.' A certificate of appreciation was presented at his workplace. The 'Fire Hero' initiative began in 2022 as part of a partnership between Tire Bank and the national firefighters' union, recognizing a firefighter each month from across the country. Captain Kwon, who has served since 1991, is a veteran firefighter who has worked tirelessly at various disaster sites, including fires, collapses, explosions, and traffic accidents, to protect the lives and property of citizens. He has responded to major disasters in his area, including the 1995 gas explosion in Sangin-dong, the 2003 Daegu subway disaster, and the fires at Seomun Market in 2005 and 2016, saving countless lives. Over his approximately 35 years of service, he has responded to more than 15,000 incidents and saved over 4,500 lives. A Tire Bank representative stated, "We will continue to work together for firefighters who are tirelessly dedicated to public safety." In addition, Tire Bank is expanding its social contribution activities through various programs, including a relay of neighborly love and a campaign to encourage childbirth.* This article has been translated by AI. 2026-08-31 08:44:00
-
BKR Supports Youth Preparing for Independence with Job Opportunities BKR, which operates Burger King and Tim Hortons, is supporting youth preparing for independence by providing job opportunities and practical training. Participants will gain hands-on experience in store operations and have the chance to pursue leadership roles if they meet certain criteria.On August 31, BKR announced the recruitment of participants for the '2026 Burger King Youth Growth Support Program.' This initiative is part of BKR's environmental, social, and governance (ESG) campaign 'Stand By You,' aimed at helping youth preparing for independence gain work experience in the food service industry and plan their future careers.Participants will work for three months at Burger King locations across the country, gaining experience in customer service and store operations. The program is designed to help them develop practical skills necessary for running a restaurant and to enhance their understanding of the industry.During their employment, participants will receive training on food safety and hygiene, as well as mentoring from on-site managers. Those who demonstrate commitment and possess the necessary skills will have the opportunity to challenge for store leadership positions, such as Store Team Leader (STL) or Shift Leader (SL). The program aims to ensure that participants do not just gain short-term employment but can build a sustainable career in the food service sector.The program is open to youth preparing for independence who can work at least 25 hours a week. Interested individuals can apply through the BKR recruitment website by September 4. The recruitment announcement can also be found on the BKR recruitment site, the National Child Rights Protection Agency's 'Independence Information ON,' and various dedicated support agency channels.Final participants will be selected through document review, interviews, and pre-training. After selection, they will be placed in Burger King locations nationwide to participate in the program.A BKR representative stated, 'We believe that what youth preparing for independence need most as they take their first steps into society is sustainable growth opportunities and support. We will continue to strive to be there for those in need through various ESG campaigns and provide practical assistance.'Meanwhile, youth preparing for independence refers to those who have been protected in child welfare facilities or foster homes and are transitioning to independence after turning 18. They can receive support until the age of 25 if their protection period is extended.* This article has been translated by AI. 2026-08-31 08:44:00
-
Lee Jun-seok Threatens Legal Action Over False Claims of Joining Democratic Party Lee Jun-seok, the former leader of the Reform Party, has announced plans to take legal action against those spreading false rumors about his potential membership in the Democratic Party and a possible merger.On August 31, political sources reported that Lee stated on his Facebook the previous day, "I have decided to take legal action against all 80 broadcast panelists who have been spreading rumors about my joining the Democratic Party and the merger of the Reform Party."He emphasized, "I have never discussed such matters with anyone, nor is there any basis for these claims, so there will be no explanation needed," adding, "I hope there will be no more such antics in the future."The Reform Party also issued a statement through the media, declaring that the rumors of a merger with the Democratic Party circulating on certain platforms are baseless and lack credible sources. They vowed to respond sternly to malicious and misleading fake news.Previously, Lee resigned from his position as party leader on August 26, taking political responsibility for the party's defeat in the June 3 local elections. Following his resignation, rumors regarding a merger with the Democratic Party began to circulate, particularly on YouTube.* This article has been translated by AI. 2026-08-31 08:40:10
-
Daol Investment Securities Raises Target Price for Kolmar Korea by 11.8% Daol Investment Securities announced on August 31 that it has raised its target price for Kolmar Korea from 170,000 won to 190,000 won, an increase of 11.8%. The firm maintained its 'buy' rating.Park Jong-hyun, a researcher at Daol Investment Securities, stated, "The increase in sales of sun care and basic products is leading to improved productivity among existing staff and greater efficiency in selling and administrative expenses. As a result, the operational leverage from productivity improvements and the long-term profitability path through the new Sejong plant will highlight Kolmar Korea's relative advantages."Park analyzed that the profitability differences among cosmetics original design manufacturers (ODM) depend on how efficiently they absorb increased production volumes. In the ODM structure, which has a high proportion of raw material costs, improving margins relies more on the efficiency of selling and administrative expenses and manufacturing labor costs than on depreciation.Kolmar Korea is expected to see significant productivity improvements as both cost of goods sold and selling expenses are improving, while the burden of fees from the holding company is not increasing significantly. The high level of automation at the new Sejong plant is also seen as a key factor for long-term productivity improvements.Kolmar Korea's standalone operating profit margin is projected to reach 14.8% in 2026, marking six consecutive years of improvement since 2020's 8.3%. Daol Investment Securities has revised its estimates for the third quarter, projecting consolidated sales of 865.5 billion won and operating profit of 92.2 billion won, with a standalone operating profit margin forecasted at 15.4%.* This article has been translated by AI. 2026-08-31 08:40:00
-
Eastsoft to Launch AI Assistant 'Al-Bis' in Second Half of 2026, Aiming for 10 Million Monthly Users by 2030 Eastsoft plans to launch its AI assistant, 'Al-Bis,' which operates directly within users' PC environments, in the second half of 2026. The company aims to secure 10 million monthly active users (MAU) by 2030, starting with the service's launch.On August 31, Eastsoft announced that 'Al-Bis' is being developed using its operational expertise from the popular software 'Altools' and the portal 'Zoom,' along with the commercialization experience of its agent AI 'Alan' and the technology from its AI human-based service 'Perso Interactive.'The company plans to build a national AI assistant service by integrating the technological capabilities of its partners, focusing on AI model optimization, infrastructure and serving, and specialized agents.The core concept of 'Al-Bis' is to be the most user-friendly installed AI agent. It aims to go beyond simply responding to user commands by performing and completing tasks autonomously.Designed to be installed on PCs, 'Al-Bis' will understand personal file systems and execute related tasks. The service will also be available in app and web environments.Cost competitiveness is another differentiating factor. Eastsoft plans to utilize small language models (SLM) to reduce inference costs, thereby establishing a sustainable AI service. The large user base and software operation experience gained through Altools will also be leveraged for service expansion.'Al-Bis' will feature AI chatbot capabilities, along with 'Deep Research' and 'Skill Wish Store.' Deep Research provides evidence-based answers, while the Skill Wish Store expands the range of tasks and outcomes the AI can perform by integrating external applications.Jung Sang-won, CEO of Eastsoft, stated, “We plan to showcase 'Al-Bis' in the second half of this year by combining over 30 years of software operation expertise with AI technology. 'Al-Bis' will understand daily life and make it more convenient, transforming our everyday experiences.”* This article has been translated by AI. 2026-08-31 08:40:00
-
Kim Hyo-joo Finishes Second at LPGA Tour FM Championship; China's Yin Ruoning Takes Title Kim Hyo-joo narrowly missed a comeback victory at the LPGA Tour FM Championship, which had a total prize purse of $4.4 million.On August 31, in Norton, Massachusetts, Kim shot a final round of 1-under 71, with three birdies and two bogeys, at TPC Boston (par 72).With a total score of 12-under 276, Kim finished in solo second place, two strokes behind China's Yin Ruoning, who finished at 14-under 274. This marks Kim's second runner-up finish of the season, following her performance at the Dow Championship in June.Having secured victories at the Founders Cup and the Ford Championship earlier this year, Kim aimed for her third win of the season and her 10th career title. However, she fell short of the championship.Starting the day tied for second, one stroke behind the leader, Kim took the lead after making a birdie on the 10th hole (par 4), while Yin recorded a bogey on the same hole. The two players remained neck-and-neck until the 15th hole (par 4).The turning point came on the 16th hole (par 3), where Kim made a three-putt bogey, allowing Yin to regain the lead. Kim's birdie attempt on the 17th hole (par 4) missed the mark, preventing her from closing the gap. On the final 18th hole (par 5), Kim's tee shot landed in the rough, and her second shot went into a bunker, but she managed to make par. Yin secured the championship with a birdie on the same hole.This victory marks Yin's sixth career win on the tour, her first since the Maybank Championship in October 2024, with a winner's prize of $660,000 (approximately 910 million won).Other South Korean players also performed well, with Kim Sei-young finishing tied for fourth at 10-under 278. Yoo Hae-ran, Lim Jin-hee, and Lee So-mi all finished tied for ninth at 8-under 280.Additionally, Ahn Na-rin placed tied for 13th at 7-under 281, while Choi Hye-jin finished tied for 17th at 6-under 282, and Kang Min-ji ended tied for 27th at 3-under 285.World No. 1 Nelly Korda of the United States finished tied for 50th at 1-over 289.* This article has been translated by AI. 2026-08-31 08:36:00
-
Hyundai Card and Hyundai Commercial Announce Open Recruitment for New Employees Hyundai Card and Hyundai Commercial announced on August 31 that they will conduct a "2026 New Talent Recruitment." This marks the second open recruitment for new employees this year, following a conversion internship held in March.The recruitment will be conducted as an integrated selection process without distinguishing between job fields. Candidates will be selected through document screening, written tests, and first and second interviews. Applications will be accepted until 10 a.m. on September 14.Eligible applicants include graduates from domestic and international universities and those expected to graduate by February 2027. Successful candidates will begin work in January 2027.After joining, new employees will have the opportunity to experience various roles, including card product planning, financial product sales, finance and management, risk and collections, management support, and branding, before ultimately deciding on their department and position.To facilitate this process, Hyundai Card and Hyundai Commercial will implement programs such as "Job Selling," where department staff directly introduce their roles, and a "Job Fair," allowing new recruits to ask questions about different departments and positions. This initiative aims to help new employees choose roles that align with their skills and aspirations while enabling them to design their long-term career paths.* This article has been translated by AI. 2026-08-31 08:36:00
-
Hyundai Capital Launches Financial Corporation in India, Targets Dealer Financing Hyundai Capital has officially launched its financial corporation in India, the world's third-largest automotive market, and is set to begin operations. The company announced on August 31 that it is transitioning its existing advisory firm in India to a financial corporation named 'Hyundai Capital India.' This marks Hyundai Capital's 14th overseas financial entity, which will operate independently rather than as a joint venture. In March, Hyundai Capital obtained a non-banking financial company (NBFC) license from the Reserve Bank of India (RBI). The company plans to implement a localization strategy tailored to the Indian market and customer characteristics, leveraging its global automotive finance experience. Initially, the business will focus on dealer financing, providing financial services to local automotive sales dealers. This strategy takes into account the vast geography and diverse financial environments across India. Hyundai Capital aims to expand its dealer financing network throughout India while also establishing a sales and risk management system for retail finance targeting general customers. As Hyundai Motor Group increases its production capacity and electric vehicle lineup in India, the financial support for automotive sales is expected to strengthen. Currently, Hyundai Capital operates a total of 19 entities across 14 countries, including the United States, Canada, the United Kingdom, Germany, and Australia.* This article has been translated by AI. 2026-08-31 08:32:10
-
Hyundai Union Begins Vote on Wage Negotiation Agreement, Results Expected This Afternoon The Hyundai Motor Union (Metal Workers' Union Hyundai Branch) began voting on August 31 on a tentative agreement for this year's wage negotiations.Voting started at 6 a.m. at the Ulsan, Jeonju, and Asan plants, as well as at the Namyang Research Center, involving approximately 39,000 union members.If more than half of the total union members participate and a majority of those voting approve, this year's wage negotiations at Hyundai will be concluded.Previously, Hyundai and the union reached a tentative agreement that includes a monthly base salary increase of 100,000 won, performance bonuses of 400% plus 12.7 million won, 15 shares of stock, 500,000 won in welfare points, and an increase of 200,000 won for summer vacation expenses, along with plans to hire 500 new technical (production) staff by 2028.After the voting concludes, the ballots will be transported to the union office at the Ulsan plant, where counting will begin. The final results are expected to be announced later in the afternoon.* This article has been translated by AI. 2026-08-31 08:32:00