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Lee's approval rating keeps plunging SEOUL, August 28 (AJP) - President Lee Jae Myung's approval rating slid further, according to a survey released on Friday. Pollster Gallup Korea surveyed about 1,000 adults nationwide earlier this week and found that 42 percent said Lee was doing a good job, down 3 percentage points from the previous week. The figure was the lowest since Lee took office in June last year, continuing a downward trend in recent weeks. It was also below the previous low of 44 percent seen in the second week of August, when his disapproval rating surpassed his approval rating for the first time. About 50 percent of respondents disapproved of Lee's performance, also the first time disapproval has reached half of those surveyed in Gallup Korea's weekly polls since he took office. Some 8 percent remained undecided or refused to give an answer. Among those who approved of Lee's performance, foreign policy was the most cited reason at 16 percent. Among those who disapproved, real estate-related policy topped the list at 27 percent. The decline in Lee's approval rating came a bit later than that of his predecessor Yoon Suk Yeol, but was somewhat faster than those of other former presidents who entered their lame-duck periods about two years or so into their terms. Yoon's disapproval rating surpassed his approval rating for the first time in July 2022, just two months after taking office and even before his honeymoon period ended, in a phenomenon known as a "dead cross." Other predecessors saw the same reversal, but much later. It took Moon Jae-in about two years and four months and Park Geun-hye one year and five months. Neither recovered their approval ratings afterward. Meanwhile, support for the ruling Democratic Party (DP) fell 2 percentage points from the previous week to 39 percent, dropping below 40 percent for the first time in about 10 months. Support for the main opposition People Power Party (PPP) remained unchanged at 25 percent. Among the minor parties, the liberal Rebuilding Korea Party garnered 4 percent, followed by the centrist Reform Party at 3 percent and the left-wing Progressive Party at 1 percent. A whopping 26 percent of respondents said they did not support any party. AJP Takeaways • President Lee Jae Myung's approval rating fell to 42 percent, down 3 percentage points from the previous week and the lowest level since he took office in June 2025, according to a Gallup Korea poll released Aug. 28, 2026. • Lee Jae Myung's disapproval rating reached 50 percent for the first time in Gallup Korea's weekly polls since his inauguration, with real estate policy cited as the top reason for negative assessments at 27 percent. • Democratic Party support fell to 39 percent, dropping below 40 percent for the first time in about 10 months, while People Power Party support remained unchanged at 25 percent. 2026-08-28 16:24:02 -
NextTrade's ETF Trading Plans Delayed Amid Market Uncertainty NextTrade's plans to expand its exchange-traded fund (ETF) trading are facing setbacks. Contrary to its previous schedule to begin ETF trading in November, the company is now expected to struggle with its application for full approval in September. The Korea Exchange is pushing to exclude ETFs from trading in the aftermarket, complicating the trading timeline.As of August 28, financial industry sources indicate that NextTrade has not yet applied for full approval for ETF trading. The industry anticipates that the application will be difficult to submit in September. Given that the approval process typically takes more than two months, the prospect of starting ETF trading in November now seems unlikely.The uncertainty surrounding the start date for NextTrade's ETF trading has raised questions about how far trading hours can be extended. Initially, NextTrade considered opening all trading sessions—pre-market, main, and aftermarket—but is now reviewing the option of starting with regular market trading and expanding based on market conditions.Earlier this year, NextTrade planned to apply for full approval after system testing following the Korea Exchange's extension of trading hours on September 14, aiming to commence ETF trading in November. Methodological discussions regarding ETF trading had largely been concluded, and technical development was nearly complete.However, recent controversies surrounding single-stock leveraged products and increased market volatility have rapidly changed the situation. Asset management firms and securities companies have expressed concerns about market operations and price management amid volatility, leading to an agreement earlier this month to refrain from participating in the Korea Exchange's aftermarket ETF trading.Financial authorities are also prioritizing market stability. Reports suggest that authorities and the exchange are considering amendments to the implementation rules for the aftermarket, which would exclude ETFs and exchange-traded notes (ETNs) from tradable products.As a result, NextTrade's timeline for launching ETF trading, initially set for November, is now under review. Although the exchange's rule amendments do not directly involve NextTrade, the challenges faced by market participants remain significant.In the current situation where the Korea Exchange's aftermarket ETF trading is blocked, if NextTrade were to proceed with its ETF trading first, it could face the burden of directly coordinating liquidity provider issues with securities firms.A NextTrade representative stated, "While we can technically proceed regardless of the exchange's decision on aftermarket ETF trading, the positions of market participants, such as asset management firms, are more important. We believe there is no need to push aggressively to persuade the market. We are carefully considering various aspects of the market situation."* This article has been translated by AI. 2026-08-28 16:20:10 -
Chinese Stock Market Adjusts After Four Days of Gains Amid U.S. Sanctions The Chinese stock market showed signs of adjustment on August 28, following four consecutive days of gains. Analysts attribute the decline to profit-taking activities. The Shanghai Composite Index closed down 0.11% at 3,952.18, the Shenzhen Component Index fell 0.68% to 13,953.07, and the ChiNext Index dropped 1.41% to 3,424.40.This week, the Chinese stock market had seen three days of continuous increases. Over the past month, the Shanghai Composite Index has risen by 3.4%. Factors contributing to this month’s bullish trend include expectations of stimulus policies, improved liquidity, and optimism surrounding technology stocks. However, some analysts in the Chinese securities market caution that the recovery in risk appetite due to macro and micro liquidity improvements may be nearing its end.Despite the slight decline, some analysts suggest that the overall market trend has not reversed but rather that the pace of increases is slowing as the market undergoes adjustments.In a report, Guangda Securities noted, "The balance of stock-backed loans is decreasing, and market trading turnover is declining, indicating a cooling off. Additionally, external risks have emerged, shaking global asset markets." They added that the indices are fluctuating within a range, with sectors such as electronics, telecommunications, and defense expected to perform well.On this day, shares related to power grid equipment experienced weakness for the second consecutive day. Stocks like Suyuan Electric and Mingyang Electric saw significant declines. On August 26, U.S. President Donald Trump signed an executive order declaring a national emergency, stating that foreign equipment used in power systems could pose security threats. This has led to expectations of sanctions against Chinese power grid equipment, contributing to the sector's downturn.In contrast, the grain sector showed strength, with companies like Dunhuang Zhongye and Xin Sai Gu Fen hitting their daily price limits. Chicago wheat futures have been on the rise, reaching their highest levels in three years. HSBC analyzed that factors such as conflicts in the Middle East, extreme heat in the Northern Hemisphere, and the El Niño phenomenon are negatively impacting grain cultivation, leading to supply shortages across agricultural supply chains.Meanwhile, the People's Bank of China set the yuan's central parity rate against the dollar at 6.7811 yuan, a decrease of 0.0029 yuan from the previous day, reflecting a 0.04% increase in the value of the yuan.* This article has been translated by AI. 2026-08-28 16:20:00
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NextTrade's ETF Trading Plans Delayed Amid Market Uncertainty NextTrade's plans to expand its exchange-traded fund (ETF) trading are facing setbacks. Contrary to its previous schedule to begin ETF trading in November, the company is now expected to struggle with its application for full approval in September. The Korea Exchange is pushing to exclude ETFs from trading in the aftermarket, complicating the trading timeline.As of August 28, financial industry sources indicate that NextTrade has not yet applied for full approval for ETF trading. Industry experts predict that the application will likely not be submitted in September. Given that the approval process typically takes over two months, the prospect of starting ETF trading in November now seems unlikely.The uncertainty surrounding the start date for NextTrade's ETF trading has raised questions about how long trading hours can be extended. Initially, NextTrade planned to open all trading sessions—pre-market, main, and aftermarket—but is now considering starting with regular market hours and expanding based on market conditions.Earlier this year, NextTrade aimed to apply for full approval after system testing following the Korea Exchange's extension of trading hours on September 14, with plans to commence ETF trading in November. Methodological discussions related to ETF trading had largely been concluded, and technical development was nearly complete.However, recent controversies surrounding single-stock leveraged products and increased market volatility have rapidly changed the situation. Asset management firms and securities companies have expressed concerns about market operations and price management amid volatility, leading to an agreement earlier this month to refrain from participating in the Korea Exchange's aftermarket ETF trading.Financial authorities are also prioritizing market stability. Reports suggest that authorities and the exchange are considering amendments to the implementation rules for the introduction of the aftermarket, which would exclude ETFs and exchange-traded notes (ETNs) from the list of tradable products.As a result, NextTrade's timeline for launching ETF trading, initially set for November, is now under review. Although the exchange's rule amendments do not directly involve NextTrade, the challenges faced by market participants remain significant.In the current situation where the Korea Exchange has blocked aftermarket ETF trading, if NextTrade were to proceed with its ETF trading first, it could face the burden of directly coordinating liquidity provider (LP) issues with securities firms.A NextTrade representative stated, "While we can technically proceed regardless of the exchange's stance on aftermarket ETF trading, the positions of asset management firms and other market participants are more important. We believe there is no need to push aggressively to persuade the market. We are carefully considering various aspects of the market situation."* This article has been translated by AI. 2026-08-28 16:20:00
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Bankruptcy Sidesteps Restructuring Law: How Will Gwangyang Health University Protect Students and Staff? The 'Private University Restructuring Support Act' and its enforcement decree, aimed at facilitating proactive management normalization and orderly exits for struggling universities, were fully implemented on August 15. However, Gwangyang Health University, which is set to close on August 31, is confirmed not to be subject to this law. Due to financial difficulties culminating in a court bankruptcy ruling, the university's fate will be determined through bankruptcy proceedings rather than the various provisions offered by the restructuring law.The Ministry of Education reviewed and approved the enforcement decree of the 'Private University Restructuring Support Act' during a cabinet meeting on August 4, with implementation starting on the 15th for a ten-year period. This decree provides legal grounds and detailed procedures for financial diagnostics, designation and removal of universities in management crises, and restructuring orders.Notably, the law establishes a 'voluntary exit' pathway for struggling universities. If a university in crisis decides to dissolve, it can receive a portion of its remaining assets as a dissolution settlement or contribute them to public or social welfare organizations.Additionally, staff members laid off due to closure will be prioritized for unpaid wages and severance payments within the limits of remaining assets, while students will receive special transfer support and compensation for interrupted studies, creating a comprehensive protection mechanism for stakeholders.However, the law draws a strict line against private university corruption. Executives or individuals who fail to comply with rectification demands due to embezzlement, misappropriation, or accounting fraud will be thoroughly excluded from receiving dissolution settlement funds.Gwangyang Health University Faces Court Bankruptcy Ruling, Not Eligible for Restructuring LawDespite the benefits and procedures of the Private University Restructuring Support Act, Gwangyang Health University, which is closing on August 31 due to various financial issues and corruption, is not eligible for these provisions. A representative from the Korea Scholarship Foundation stated, "Gwangyang Health University is not subject to the restructuring law because it was declared bankrupt by the court before the law's implementation date."The representative explained, "The bankruptcy trustee appointed by the court will take over the authority to proceed with the closure and asset liquidation. The Ministry of Education has decided on the closure due to bankruptcy, and measures to protect stakeholders, such as special transfer support, are currently underway."Thus, Gwangyang Health University is following a bankruptcy process enforced by external authorities rather than seeking a 'restructuring' exit on its own, placing it outside the scope of the new law.Struggling Universities Still Holding On: No Self-Directed Exits YetAlthough the Private University Restructuring Support Act has been officially implemented, no universities have yet taken steps toward voluntary closure or restructuring. A representative from the Korea Scholarship Foundation noted regarding the 20 universities recently identified for financial support restrictions for the 2027 academic year, "None of these institutions have reached out or expressed a desire to pursue an exit strategy voluntarily."The representative added, "Universities are trying to escape the management crisis by any means possible," noting that some institutions are attempting to change their structure through their own assets or other resources.The Ministry of Education indicated that the list of universities facing financial support restrictions released this year is a result of existing policy measures (such as restrictions on national scholarships and student loans). Starting next year, the newly established Private University Restructuring Review Committee will apply measures based on financial diagnostics, marking the beginning of serious restructuring law actions.While the law has established a systematic foundation for private university restructuring, how struggling universities will accept and utilize it is expected to become clearer once the financial diagnostics results are released next year. 2026-08-28 16:16:10
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SK Group Donates 2 Billion Won for Flood Recovery Efforts SK Group has pledged 2 billion won to support residents in southern regions, including Geoje and Tongyeong, who have suffered significant damage from recent heavy rains.On August 28, SK Group announced that it would donate the funds through the Community Chest of Korea to aid in recovery efforts and provide relief for disaster victims. The donation will be used to restore affected areas and help victims return to their daily lives.In addition, its affiliates have also initiated relief activities. SK Hynix provided 630 volunteer kits to areas impacted by the flooding, including Geoje, on August 26. The High Safety program, which SK Hynix has implemented annually, aims to support disaster relief efforts.SK Telecom has been supplying communication facilities, such as smartphone charging stations and power banks, to temporary housing set up at Okpo Elementary School and Okpo Community Center since August 18. They are also providing relief supplies, including towels and wet wipes.Furthermore, SK Broadband has installed Wi-Fi and IPTV services at Okpo Elementary School since August 18 to ensure that residents in temporary housing can access communication services without inconvenience.An SK Group official stated, "As many citizens are facing difficulties due to the sudden heavy rains, we will support the residents in affected areas to return to their daily lives as soon as possible. SK Group plans to actively engage in various recovery support activities in addition to the monetary donation."* This article has been translated by AI. 2026-08-28 16:16:00
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Chip stocks drag KOSPI down despite Wall Street, Tokyo gains SEOUL, August 28 (AJP) - Memory chip heavyweights dragged South Korea's main stock index down 1.8 percent on Friday, despite gains on Wall Street overnight and in Tokyo. Seoul's benchmark KOSPI fell 123.49 points or 1.8 percent to close at 6,788.88. The losses were concentrated among large-cap stocks. The KOSPI 200 fell 2.1 percent, while the tech-heavy KOSDAQ edged up 0.1 percent to close at 838.41. SK hynix took the heavier hit. The chipmaker fell 4.5 percent to 1,653,000 won (US$1,204). Samsung Electronics lost 3.4 percent to 257,000 won ($187). The split between the two ran the wrong way for the index, with the more expensive and more heavily owned of the pair falling faster. Tokyo told the same story in miniature. Kioxia, the Japanese flash-memory maker, dropped 8.8 percent. Advantest, which makes chip-testing equipment, gained 1.9 percent. Traders read that gap as selling aimed at memory pricing rather than at artificial intelligence spending broadly, a distinction that spares equipment makers and hits Korea directly. Foreign investors sold a net 1.76 trillion won ($1.28 billion) on the main board, with institutions selling a further 284.4 billion won ($207.2 million). Individuals bought 424.5 billion won ($309.3 million). Samsung Biologics fell 6.8 percent to 1,486,000 won ($1,083). Outside the index leaders the market held up. KB Financial Group added 2.1 percent to 171,600 won ($125). Gains also ran through autos, power equipment and electronic components. In Tokyo, the Nikkei 225 closed at 66,405.56, up 0.4 percent. The composite index in Shanghai was modestly higher. The won firmed to 1,372.50 per dollar, stronger by 9.50 from the previous sesson. The breadth is the bulls' argument and it is a thin one. A market where financials, autos and components all rise and the index still loses nearly 2 percent has not diversified away from memory. It has simply narrowed the bet. 2026-08-28 16:13:19 -
KOSPI Falls 1.79% Amid Foreign Selling and U.S. Tariff Concerns The KOSPI closed down 1.79% as foreign and institutional investors sold off shares. Despite a rally in U.S. tech stocks, led by Nvidia's strong performance, domestic semiconductor stocks weakened, putting downward pressure on the index. The KOSDAQ showed mixed trading but ended slightly higher.On August 28, the Korea Exchange reported that the KOSPI fell by 123.49 points to close at 6788.88. The index opened down 65.83 points at 6846.54 and widened its losses throughout the day.Individuals purchased a net 424.4 billion won worth of stocks, while foreign and institutional investors sold a net 1.7564 trillion won and 284.2 billion won, respectively.Most of the top market capitalization stocks declined, including Samsung Electronics (-3.38%), SK Hynix (-4.45%), Samsung Electronics Preferred (-3.86%), SK Square (-3.75%), and Samsung Biologics (-6.78%). In contrast, Samsung Electro-Mechanics (2.60%), Hyundai Motor (0.38%), Samsung Life Insurance (0.98%), and KB Financial (2.08%) saw gains.Market analysts noted that while U.S. tech stocks were strong, expectations for domestic stocks had already been priced in, and the upcoming Jackson Hole meeting added to market caution.Concerns about additional tariffs on imported semiconductors and IT products, including servers and laptops, from the U.S. have dampened investor sentiment, particularly regarding semiconductor stocks.Samsung Biologics continued to decline following its announcement of a 3.9 trillion won rights offering to finance the acquisition of Polypeptide Group.On the same day, the KOSDAQ closed up 0.09%, gaining 0.76 points to finish at 838.41. The index opened down 2.42 points at 835.23 but reversed course during the trading session.Individuals bought a net 98.1 billion won worth of stocks, while foreign and institutional investors sold a net 93.8 billion won and 3.4 billion won, respectively.The top KOSDAQ stocks showed mixed results. Alteogen (2.73%), EcoPro BM (0.17%), Rino Industry (0.15%), HLB (1.55%), and Pharma Research (6.71%) rose, while EcoPro (-1.96%), Rainbow Robotics (-3.18%), Juseong Engineering (-1.28%), Wonik IPS (-1.42%), and IOTechniques (-1.97%) fell.Lim Jeong-eun, a researcher at KB Securities, stated, "The weakness of Samsung Electronics and SK Hynix has put downward pressure on the KOSPI, but a rotation into non-semiconductor sectors like food and beverage, banking, and refining has resulted in a rise in the proportion of gainers to over 68%." He added, "The KOSDAQ's pharmaceutical and biotech sectors remained strong, while the electronics sector lagged behind."Lim also noted that with Federal Reserve Chair Jerome Powell's keynote speech at Jackson Hole scheduled for tonight, it is essential to monitor any messages regarding future monetary policy. Additionally, U.S. employment data and earnings reports from AI-related companies like Broadcom are expected next week.Meanwhile, in the Seoul foreign exchange market, the weekly closing exchange rate for the won against the dollar was recorded at 1372.5 won, down 8.4 won from the previous day.* This article has been translated by AI. 2026-08-28 16:04:00
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Construction of 3GW LNG Power Plant Planned for Yongin Semiconductor Complex 용인 반도체 국가산업단지에 총 3GW 규모의 액화천연가스(LNG) 발전소 건설이 추진된다. 인근 안성 주민들이 발전소 건설·운영에 따른 환경영향을 우려하는 가운데 정부가 SK하이닉스 반도체 산단의 공정 처리수 방류 예정지까지 점검하고 지역 상생 방안을 모색한다.기후에너지환경부는 김성환 장관이 28일 경기 안성시 양성면과 고삼호수를 방문해 용인 반도체 산업단지의 전력공급 시설 및 공정 처리수 방류 계획을 점검하고 주민간담회를 개최한다고 밝혔다.용인 반도체 국가산단에는 한국동서발전과 한국남부발전, 한국서부발전이 각각 1GW 규모의 LNG 발전소를 건설해 총 3GW의 전력을 공급할 계획이다. 현재 발전소 건설을 위한 환경영향평가를 준비하고 있다.김 장관은 LNG 발전소 예정지와 인접한 안성시 양성면을 찾아 주민 의견을 듣는다. 지역 주민들은 발전소 건설·운영에 따른 환경영향을 우려하며 피해를 최소화할 대책을 요구하고 있다.김 장관은 SK하이닉스 용인 반도체 산단의 공정 처리수가 유입될 예정인 고삼호수도 점검한다. SK하이닉스는 2027년 상반기 첫 번째 팹 가동을 목표로 산단 조성사업을 진행하고 있다.산단에서 발생한 폐수는 처리 과정을 거쳐 산업단지 내에서 재이용하거나 생태하천과 인공습지를 거쳐 방류할 예정이다. 방류 지점은 고삼저수지 유입부에서 상류로 10.5㎞ 떨어진 한천이다.김 장관은 현장 점검을 마친 뒤 안성 지역 주민과 농·어업인 등을 만나 발전소 건설과 처리수 방류에 대한 우려와 요구사항을 청취한다. 정부는 주민에게 관련 정보를 충분히 제공하고 객관적인 자료를 바탕으로 사업의 환경영향을 설명하는 등 소통을 강화할 방침이다.김 장관은 "반도체 산업은 국가 핵심 전략산업으로 정부가 적극적으로 지원하되 그 과정에서 발생하는 환경적 부담과 지역의 목소리도 면밀히 살피겠다"며 "국가첨단산업의 발전과 지역 주민의 삶이 함께 나아갈 수 있도록 합리적인 상생 방안을 찾겠다"고 밝혔다.* This article has been translated by AI. 2026-08-28 16:04:00
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Mayor Kim Sung-je of Uiwang Promotes 'Phone-Free School' Initiative for Healthy Education Kim Sung-je, the mayor of Uiwang, expressed on August 27 his commitment to creating a healthy educational environment for children through participation in the 'Phone-Free School' initiative.During the '2026 Gunpo-Uiwang Phone-Free School Education Community Declaration Ceremony' held at the Gunpo City Hall, Mayor Kim stated, "Schools, families, and the community must work together to cultivate proper smartphone usage habits among students." The 'Phone-Free School' initiative aims to provide students with time away from smartphones, allowing them to engage in various educational activities such as reading, arts, and sports. It is a community-driven movement that seeks to foster healthy smartphone habits and a supportive educational environment.Mayor Kim emphasized the importance of creating an educational environment that encourages students to fill their time away from smartphones with healthy and productive activities like reading and the arts, rather than merely restricting smartphone use.He noted, "The issue of smartphone usage among students cannot be resolved by schools alone; the role of the education community, which includes schools, families, local communities, and municipal governments, is crucial." The declaration ceremony was organized by the Gunpo-Uiwang Education Support Office and attended by approximately 370 participants, including Ahn Min-seok, the Gyeonggi Province Superintendent of Education, Mayor Kim Sung-je, Gunpo Mayor Han Dae-hee, students, parents, and community members.Attendees committed to supporting students' healthy growth and the formation of proper lifestyle habits through various activities beyond just reducing smartphone use.Mayor Kim remarked, "As smartphones have become essential tools in our lives, schools, families, and communities must work harder to help children develop proper smartphone usage habits." He added, "The city will closely collaborate with the education support office and schools to create an educational environment where children can grow healthier and happier." Looking ahead, Mayor Kim plans to establish a close cooperation system with the education support office, schools, parents, and the community to foster an educational environment that enables students to grow healthier and happier.* This article has been translated by AI. 2026-08-28 15:56:10