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  • CIA Directors Surprise Visit to Russia Linked to U.S. Military Concerns
    CIA Director's Surprise Visit to Russia Linked to U.S. Military Concerns This week, John Ratcliffe, the Director of the U.S. Central Intelligence Agency (CIA), made a surprise visit to Russia, which was reported by the Washington Post on the 27th, citing two sources. The visit was influenced by Russia's analysis that U.S. military power has been weakened due to the ongoing conflict in Iran over the past six months. Concerned that Russia might escalate its offensive against Ukraine and NATO, the U.S. took preemptive measures.According to reports, during his visit to Russia on the 25th, Ratcliffe warned the Russian government that an offensive against Ukraine would backfire. He indicated that if Russian President Vladimir Putin were to intensify military actions in Ukraine, it could lead President Donald Trump to support Ukraine more strongly, as relayed by one source.The source further explained that Ratcliffe's visit was not primarily due to Putin being cornered by failures on the Ukrainian front, but rather because Russian assessments suggested that the U.S. might be unable to intervene in the Ukraine conflict due to dwindling military resources. U.S. intelligence assessments indicate that President Putin believes the U.S. military's overall strength has diminished due to the impact of the Iran conflict on combat readiness and the stock levels of advanced weapons like Patriot missiles.Previously, the Wall Street Journal reported on the 6th that U.S. intelligence agencies assessed that President Putin might provoke NATO member states to test the alliance's collective defense resolve.Recently, reports have emerged of fatigue among the crew of the USS Abraham Lincoln, a carrier deployed for extended operations in the Middle East. Additionally, the U.S. military has reportedly depleted a significant number of Patriot missiles to support allied air defense systems in the region, leading to dangerously low stocks in Europe and Asia. Furthermore, the U.S. has already used about a quarter of its Reaper drones, which cost between $30 million and $50 million each, according to the Washington Post.Amid these developments, Ukraine has been experiencing increased damage from Russian attacks as its stock of air defense weapons provided by the U.S. has dwindled. Ukrainian President Volodymyr Zelensky has been appealing to countries worldwide, including South Korea, for additional air defense support.Ratcliffe's visit to Russia marks the first by a CIA director since William Burns visited in November 2021 during the Biden administration and the first since Russia's invasion of Ukraine in February 2022. However, the Kremlin acknowledged Ratcliffe's visit but stated that there were no discussions with President Putin. Sergey Naryshkin, head of Russia's Foreign Intelligence Service (SVR), also confirmed the conversation with Ratcliffe but noted that 'nothing special' occurred.According to the New York Times, Ratcliffe reportedly conveyed to Alexander Bortnikov, head of the Federal Security Service (FSB), that it would be better to seek a ceasefire before the situation in Russia worsens.Meanwhile, CNN reported that President Trump, speaking to reporters at the White House, expressed reluctance to comment on Ratcliffe's visit but stated, 'They (Russia) will not attack (NATO).'* This article has been translated by AI. 2026-08-28 10:12:00
  • Saemaul Geumgo Provides 37.5 Billion Won in Financial Support to Social Enterprises and Cooperatives
    Saemaul Geumgo Provides 37.5 Billion Won in Financial Support to Social Enterprises and Cooperatives Saemaul Geumgo Central Association will provide a total of 37.5 billion won in financial support to social solidarity economy organizations, including social enterprises and cooperatives. On August 27, Saemaul Geumgo Central Association announced that it signed a business agreement with the Ministry of the Interior and Safety, the Korea Credit Guarantee Fund, and the Korea Social Value Fund for the 'MG Cooperation Special Guarantee for Social Solidarity Economy Organizations' on August 28. The targeted organizations for this support include social enterprises, cooperatives, self-sustaining enterprises, and village enterprises. This agreement aims to enhance financial accessibility for these organizations and reduce their funding burdens. Under the agreement, Saemaul Geumgo Central Association will contribute 3 billion won. The Korea Credit Guarantee Fund will use this as a resource to provide special guarantees exclusively for social solidarity economy organizations through 17 regional credit guarantee foundations nationwide. Saemaul Geumgo will support loans totaling 37.5 billion won to social solidarity economy organizations that receive guarantee certificates from regional credit guarantee foundations. Additionally, the government and the Korea Social Value Fund will be linked to lower the interest burden on these loans. Kim In, the president of Saemaul Geumgo Central Association, stated, “Supporting the stable growth of social solidarity economy organizations and revitalizing the local economy is an important role of Saemaul Geumgo. We will continue to expand community-based finance in cooperation with relevant institutions.”* This article has been translated by AI. 2026-08-28 10:08:20
  • Gimhae Residents Urged to Use High Oil Price Support Funds Before Expiration
    Gimhae Residents Urged to Use High Oil Price Support Funds Before Expiration The high oil price support funds distributed to residents of Gimhae will expire at midnight on the 31st. Any remaining balance not used by that time will automatically be forfeited and will not be refunded.The funds were allocated to 402,645 residents, with a disbursement rate of 98.5%. As of August 24, the usage rate was reported at 98.4%. While a usage rate above 98% indicates that most funds have been utilized, it also suggests that some residents may still have unspent balances. If these individuals miss the deadline, their remaining funds will be lost.All payments must be completed before midnight on the 31st, regardless of whether they are from the first or second disbursement. The funds can only be used by applicants at their registered addresses, meaning Gimhae residents must spend them within the city.The places where the funds can be used vary by payment method. Mobile Gimhae Love Gift Certificates can be used at participating local businesses, while credit, debit, and prepaid cards can be used at small businesses with annual sales under 3 billion won, excluding certain restricted sectors. Gas stations are exempt from these restrictions.Methods for checking remaining balances also differ by payment type. For credit and debit cards, users can check with their card issuer, while prepaid cards can be checked using the balance inquiry number on the back. Mobile Gimhae Love Gift Certificates can be checked through the Zero Pay payment app.A city official stated, "With the deadline approaching, we urge residents who have not yet used their funds or have remaining balances to do so by the 31st. After the deadline, any remaining amounts will automatically expire, so please check your balances and the deadline carefully." The city will continue to provide notifications about the expiration of unused balances until the deadline.Gimhae Agricultural Products Discounted Up to 45% Online for Upcoming Chuseok EventNext month, a Chuseok discount event will allow residents to purchase local agricultural and livestock products online at discounts of up to 45%. However, the 45% discount applies only to select items when combined with specific coupons.From September 1 to 28, Gimhae will hold a discount event for agricultural and livestock products under the joint brand "Gaya Field" on the city’s online shopping mall, Gimhae On Mall. This event is part of the "Wishes for a Bountiful Chuseok" campaign aimed at boosting consumption during the holiday season.The base discount is 15%. Products under the Gaya Field brand, including agricultural and livestock goods, processed items, and Gimhae rice, will be available at a 15% discount. Some items will be eligible for additional discounts of up to 45% when using Gimhae On Mall's own discount coupons. Additional discounts will also apply when paying with Zero Pay Gimhae Love Gift Certificates or Gimhae On Mall gift certificates.The city explains that this event aims to expand market access for local farmers while alleviating consumer costs. The initiative seeks to attract online shoppers to local agricultural products ahead of Chuseok.A city official expressed hope that the discount event will help expand market access for local farmers and reduce consumer burdens, stating, "We wish everyone a bountiful Chuseok with Gimhae's agricultural products."Low-Income Residents Prepare Lunch Boxes for Seniors in Need as Gimhae Self-Sufficiency Project LaunchesA new self-sufficiency lunch box project in Gimhae, which provides jobs for low-income residents while delivering meals to elderly individuals living alone, officially opened on August 27. After a month of pilot operations, the project combines job creation with care services.The project is operated by the Gimhae Regional Self-Sufficiency Center. It employs 11 low-income individuals, including those receiving basic living assistance and those in the near-poverty category, to prepare, package, and deliver lunch boxes. The goal is to provide them with practical experience that can lead to employment or entrepreneurship. The total investment for the project, including remodeling and operational costs, is 471 million won.The lunch boxes will be connected to a community care meal support program, providing balanced meals to 100 elderly individuals who require dietary management due to chronic illnesses. The delivery process will also include welfare checks to help reduce isolation and prevent solitary deaths among seniors.On the opening day, Park Jong-joo, the city’s Director of Welfare, personally delivered lunch boxes to the homes of elderly recipients and checked on their health and living conditions.The primary challenge for sustaining employment for the 11 workers and providing meals for 100 individuals is ensuring a stable market for the lunch boxes. The city plans to diversify supply channels through public institutions and various local events, with an eye toward future self-sufficiency business startups. However, analysts note that the success of the initial funding in achieving full economic independence will depend entirely on the tangible results of expanding market access.Park Jong-joo stated, "The lunch box project is a space that helps vulnerable groups achieve self-sufficiency while realizing community care. We will expand projects that integrate self-sufficiency and community care to provide welfare services that residents can truly feel."* This article has been translated by AI. 2026-08-28 10:08:00
  • Shinbo and Jeonbuk Bank Launch Non-Face-to-Face Guarantee Loans for SMEs
    Shinbo and Jeonbuk Bank Launch Non-Face-to-Face Guarantee Loans for SMEs The Credit Guarantee Fund announced on August 28 that it has launched the 'Easy-One Guarantee' in collaboration with Jeonbuk Bank, allowing small and medium enterprises (SMEs) to process guarantee applications and loan executions entirely online. Corporate customers of Jeonbuk Bank can complete the entire process—from guarantee application and document submission to electronic agreements and loan execution—through the bank's non-face-to-face platform without visiting a branch. This product is a follow-up to the memorandum of understanding signed between the Credit Guarantee Fund and Jeonbuk Bank in November of last year to promote non-face-to-face and digital finance. The integration of the two institutions' non-face-to-face platforms has simplified the procedures for utilizing guarantee-backed loans. Eligible businesses are SMEs that have been operating for at least one year. The Credit Guarantee Fund will assess qualifying companies to provide working capital and preferential guarantee fee rates. A representative from the Credit Guarantee Fund stated, "This product enhances financial accessibility for local SMEs through digital finance collaboration with regional banks, and we will continue to expand customer-centric non-face-to-face financial services."* This article has been translated by AI. 2026-08-28 10:08:00
  • ANALYSIS: US tariff push tests Koreas memory red line
    ANALYSIS: US tariff push tests Korea's memory red line SEOUL, August 28 (AJP) -SK hynix has broken ground on a more than $4 billion HBM facility in Indiana and Samsung Electronics is preparing to bring its long-delayed Taylor, Texas fab online. Both investments deepen South Korea's semiconductor footprint in the United States. They nevertheless stop at the fault line Washington is increasingly pressing Korean chipmakers to cross — producing advanced memory wafers on American soil. SK hynix's Indiana plant illustrates the distinction clearly. Cutting-edge wafers will continue to be made at the company's Korean fabs and shipped to West Lafayette, where they will undergo advanced packaging and testing before emerging as what SK hynix calls its first "Made in USA" next-generation HBM products from the second half of 2029. Samsung's Texas strategy has drawn a similar boundary. Its Taylor complex is centered on leading-edge logic foundry production and research and development rather than a dedicated DRAM or NAND wafer fab. The U.S. Commerce Department awarded Samsung up to $4.745 billion under the CHIPS Act to support more than $37 billion of planned investment in a broader Central Texas semiconductor ecosystem. The Taylor project's first fab is moving toward operational readiness around year-end, although full-scale mass production could slip into early 2027, according to materials compiled on the project. Samsung's existing Austin operation itself once made DRAM and NAND before exiting flash memory production in 2012 and becoming a foundry operation in 2017. The division of labor has served an obvious purpose. Samsung and SK hynix can put factories, jobs, packaging, R&D and customer-facing operations closer to the world's biggest AI market while keeping their most valuable memory manufacturing base — the dense combination of process technology, engineers, suppliers and production know-how built over decades — concentrated in Korea. But Washington wants more. The Trump administration is considering broader semiconductor tariffs that could cover not only imported chips but products containing them, including servers, laptops and gaming consoles. Commerce Secretary Howard Lutnick favors linking tariff relief to how much semiconductor production foreign companies commit to the United States, according to people familiar with the discussions cited by POLITICO and Reuters. Country-specific quotas and a phase-in period are among the ideas under consideration, although no final framework has been adopted. The proposal would turn tariffs into something much larger than a border tax. It would use access to the world's biggest technology market to dictate where part of the semiconductor supply chain is built. The stakes are particularly high in memory. Nvidia, AMD and Broadcom are among the biggest users of high-bandwidth memory for AI accelerators and servers, while Samsung and SK hynix together dominate global HBM supply. The chips have become indispensable to the enormous computing clusters being built by American hyperscalers. Lutnick already spelled out the objective in January after a groundbreaking ceremony for Micron Technology's new plant in New York. "Everyone who wants to build memory has two choices: They can pay a 100 percent tariff, or they can build in America," he said. "That's industrial policy." For Samsung and SK hynix, the important word is memory. A tariff offset based simply on overall U.S. semiconductor investment could leave both Korean companies in relatively strong positions. Samsung already has a massive front-end manufacturing presence in Texas, while SK hynix is putting advanced HBM packaging and R&D in Indiana. A system that specifically rewards memory wafer production, however, would change the equation. SK hynix's Indiana plant could produce finished HBM in the United States while still failing Washington's test if Commerce decides that the underlying DRAM wafers must also be fabricated domestically. Samsung could face the same problem. Taylor demonstrates substantial U.S. manufacturing commitment, but a logic foundry does not solve Washington's dependence on imported DRAM, NAND and HBM. The stakes for Korea extend beyond where Samsung and SK hynix spend their next few trillion won. Advanced memory technology is formally treated as an economic-security asset under Korean law. Korea's designated national advanced strategic technologies include design, process and device technologies for advanced DRAM and 3D NAND, together with related stacking, assembly and testing technologies. Transfers of designated strategic technologies abroad require government approval. The rules do not prohibit Samsung or SK hynix from building an overseas memory fab. But moving leading-edge memory production abroad cannot be viewed purely as a corporate capital-allocation decision. Seoul has its own national-security interest in where those fabs sit, fueled and accelerated by the AI boom. SK hynix this month approved another 54 trillion won of investment in new fabs in Yongin and Cheongju, while its broader long-term strategy calls for hundreds of trillions of won in additional Korean capacity. The government is simultaneously building semiconductor clusters, power networks, water infrastructure and talent programs around an industry that has become one of Korea's largest sources of exports, tax revenue and economic growth. Diverting a meaningful share of future memory wafer investment to the United States would therefore carry a domestic cost even if Samsung and SK hynix retained ownership. Factories create ecosystems. Equipment suppliers follow them. Engineers accumulate around them. Process knowledge deepens through repeated production. Future investment tends to flow toward places where previous capacity already exists. A memory fab in America would consequently represent something considerably larger than another overseas plant. It could begin shifting the gravitational center of an industry Korea has spent decades building at home. Korea's first line of defense is the semiconductor provision already secured in its trade agreement with Washington. The November joint fact sheet says any U.S. Section 232 semiconductor tariffs on Korea should receive terms "no less favorable" than those offered under a future agreement covering a comparable volume of semiconductor trade. Taiwan has since negotiated a deal linking preferential treatment and tariff-free semiconductor import allowances to enormous U.S. investment commitments, including at least $250 billion of direct investment by Taiwanese technology companies. TSMC is predominantly a contract manufacturer producing logic chips designed by customers including Nvidia and Apple. Samsung and SK hynix own the memory designs, manufacturing processes and much of the production know-how behind the chips they sell. Moving memory wafer fabrication therefore means relocating part of the technological core of their businesses, not simply adding another contract-manufacturing site. Seoul can argue that Korean companies deserve equivalent tariff treatment based on the total economic value of their U.S. semiconductor investments rather than whether every stage of memory manufacturing has been transplanted. The Trump administration's own January proclamation leaves room for such an argument. It contemplated a tariff-offset program for companies investing not only in U.S. semiconductor production but also in "certain parts" of the American semiconductor supply chain. Korea's negotiating objective should be to make that definition as broad as possible. Samsung's foundry fabs, SK hynix's advanced packaging plant, R&D centers, local sourcing, supplier investments and any future U.S. capacity should all count toward tariff-free quotas. The formula would effectively be: more Korean investment in America without requiring Korea to surrender the center of gravity of its memory industry. Seoul has another bargaining chip in the $200 billion strategic investment commitment negotiated with Washington. Semiconductor projects could eventually be financed through project-specific special purpose vehicles involving Korean companies and government-linked investment structures. Korean officials have so far said chips are not the first target, but semiconductor investment remains a possible part of the arrangement if U.S. pressure intensifies. Government-backed capital could make a U.S. expansion easier for Samsung or SK hynix. Seoul, however, would have reason to demand something substantial in return: U.S. financing, long-term customer commitments, infrastructure support and durable tariff guarantees rather than concessions that could disappear with another policy shift. Samsung and SK hynix also have leverage that governments cannot easily reproduce — their customers. American technology companies are already warning Washington that broad chip tariffs could undermine the AI infrastructure boom the administration is trying to promote. U.S. data centers remain dependent on enormous volumes of imported advanced semiconductors. Industry representatives argue that American manufacturing capacity simply cannot replace Asian supply quickly enough and that removing exemptions for data centers could raise costs or delay projects. The contradiction is difficult for Washington to escape. The United States wants to dominate artificial intelligence while simultaneously threatening tariffs on many of the chips needed to build the computing infrastructure behind it. Memory is especially difficult to replace during the present AI boom. SK hynix expects tight supply conditions to persist as demand for HBM and other advanced memory continues to rise. Samsung and SK hynix therefore have every incentive to negotiate alongside American hyperscalers, server makers, AI-chip designers and automakers rather than confront Washington alone. Long-term supply agreements could be paired with tariff exemptions or quotas. Data-center exemptions could be preserved until meaningful U.S. memory capacity actually exists. A multi-year phase-in could give companies time to determine whether additional American manufacturing makes commercial sense. Tariffs imposed immediately would raise U.S. costs long before they create a meaningful amount of additional domestic wafer capacity. President Lee Jae Myung made essentially that argument when the 100 percent threat first surfaced in January, warning that duties imposed on Korean and Taiwanese semiconductor makers with dominant global market shares would eventually feed into higher chip prices in the United States. Washington still may decide packaging, foundry investment and promises are no longer enough. Samsung would then have an advantage over SK hynix because Taylor already provides a large manufacturing campus and semiconductor infrastructure that could potentially be expanded. Samsung could try to satisfy additional U.S. demands through another production line or future fab without starting entirely from scratch. SK hynix faces a more difficult choice. Indiana is deliberately built around advanced packaging rather than front-end wafer fabrication. A Commerce Department formula based specifically on U.S.-made memory wafers could force the company to consider a second and far more expensive American project. One possible fallback for both companies would be a limited, customer-backed U.S. memory fab, financed partly through U.S. incentives and Korea-U.S. investment vehicles, while next-generation process development, the bulk of advanced DRAM production and the principal HBM wafer base remain in Korea. Another option would be to move mature or selected memory production to the United States while keeping the newest generations and their associated process technology at home. Either course would amount to a significant concession. SK hynix presented Thursday's groundbreaking as evidence that Korea and the United States can build an AI supply chain together. Washington's emerging tariff policy will determine whether allied specialization remains acceptable or whether America intends to reproduce virtually the entire semiconductor value chain inside its borders. For Korea, the question is no longer whether Samsung and SK hynix will invest more in America. The harder question is how much of the memory value chain Korea can afford to move before investment in an ally begins hollowing out the strategic asset it is trying to protect. AJP Takeaways A U.S. tariff-offset system tied specifically to domestic memory production could force Samsung and SK hynix to consider American memory fabs despite their already substantial U.S. investments. Seoul's preferred response is likely to be broader recognition of foundry, packaging, R&D and supplier investment, backed by U.S. customer pressure for exemptions and a lengthy phase-in. If Washington ultimately insists on front-end memory production, Korea's strategic red line will be preserving next-generation process technology and the main memory manufacturing ecosystem at home. 2026-08-28 10:04:25
  • Financial Supervisory Service to Publicly Disclose Inadequate Securities Filings
    Financial Supervisory Service to Publicly Disclose Inadequate Securities Filings The Financial Supervisory Service (FSS) will differentiate its review of securities filings based on their completeness. If a filing shows insufficient corrections after the initial request, the FSS will publicly disclose that the necessary adjustments were not adequately addressed, rather than repeatedly outlining specific deficiencies. Conversely, filings that are thoroughly prepared and do not require corrections will be expedited to support companies in raising funds.On August 28, the FSS held a meeting at the Korea Financial Investment Association with Lee Seung-woo, Deputy Director of Disclosure Investigation, along with the head of the Disclosure Review Division, the head of the Self-Regulatory Division of the Korea Financial Investment Association, and executives from 11 securities firms involved in IPOs and capital increases to explain the new direction for reviewing securities filings.This reform aims to address issues arising from repeated corrections to securities filings, which have delayed companies' fundraising schedules and overburdened review capabilities on certain filings.Previously, the FSS provided detailed correction requests to support fundraising, even when subpar filings were submitted. However, some issuers and underwriters relied on this practice, leading to insufficient attention during the initial filing stage and inadequate corrections after the initial requests, resulting in repeated amendments.To encourage underwriters to conduct proper due diligence during the underwriting process and allocate review resources based on the completeness of filings, the FSS is introducing a 'differentiated correction request' system.Specifically, if important information is missing or requires clarification in the initial or amended filings, the FSS will continue to send relatively detailed correction requests. However, if an amended filing addresses some issues but still has multiple significant deficiencies, it will be reviewed at a 'Level 2' standard. In this case, while a correction request will still be sent, it will only state that 'the submitted amended filing inadequately reflected the correction requests' without repeating specific deficiencies.This differentiated review process will be disclosed to the market through the electronic disclosure system (DART). The FSS plans to inform investors of the inadequacies in addressing the correction requests through public announcements, aiding their investment decisions.In contrast, securities filings that thoroughly address investment risk factors and do not receive correction requests will have their review results communicated to companies as quickly as possible. To protect investors, even when corrections are necessary, the FSS aims to manage the review process to prevent unnecessary delays in fundraising.Deputy Director Lee emphasized, 'Providing sufficient information to investors is a fundamental principle of securities filing reviews,' while also highlighting the importance of enabling companies to smoothly raise funds through capital markets when needed. He added, 'We will enhance review efficiency through a strategy of 'selection and concentration.'He also urged underwriters to strengthen their roles, stating that they are not only facilitators for companies seeking funds but also gatekeepers of the capital market. They must provide thorough explanations of the reasons for capital increases and the intended use of funds based on adequate due diligence and communication with shareholders to minimize unnecessary corrections and review delays.Additionally, during the meeting, the FSS reviewed the effects of the IPO demand forecasting system improvements implemented since July of last year. A comparison of the number of shares allocated to institutional investors before the system's implementation (January 1 to June 30 last year) and after (July 1 last year to June 30 this year) showed that the proportion of mandatory holding commitments by institutional investors increased from 29.0% to 77.7%, a rise of 48.7 percentage points. The proportion of mandatory holding commitments by policy funds also increased from 35.8% to 95.0%, a jump of 59.2 percentage points.However, it was noted that the proportion of shorter 15-day mandatory holding commitments remains the highest, and the impact of strengthened participation requirements for private equity firms and investment advisory firms in demand forecasting has not yet been significant. The FSS plans to continue refining the system to shift the IPO market focus from short-term profit realization to medium- and long-term investments based on corporate value.Discussions were also held regarding the implementation of the pre-demand forecasting and cornerstone investor systems scheduled for November. The FSS urged underwriters to record and manage the timing, counterparties, and information provided during the pre-demand forecasting process, and to review the independence and qualifications of investors during the selection and allocation of cornerstone investors to prevent conflicts of interest.* This article has been translated by AI. 2026-08-28 10:00:20
  • When Will Gwangju Metro Line 2 Phase 1 Open?
    When Will Gwangju Metro Line 2 Phase 1 Open? The opening date for Phase 1 of Gwangju Metro Line 2 is likely to be pushed back to April 2028, from the previously scheduled end of 2027.The construction began with a target completion date of late 2023. Currently, the overall progress stands at 88%.According to the Gwangju Metropolitan City on the 28th, the Transit Corporation is considering delaying the opening date for Phase 1 due to the inability to conduct civil and architectural work simultaneously at Baekun Square in front of the Nam-gu Office.Obstacles in the Baekun Square area must be relocated before civil construction can proceed, which is expected to take about four months.The Phase 1 construction area spans 17 kilometers, connecting Gwangju City Hall to the Sangmu District, Geumho District, World Cup Stadium, Baekun Square, Nam Gwangju Station, Chosun University, and Gwangju Station.The Transit Corporation initially planned to complete civil works by June of this year, followed by the installation of tracks and electrical systems by the end of the year, with a year of test operations leading to the opening in late 2027.Meanwhile, under the direction of Mayor Min Hyung-bae, Gwangju Metropolitan City is conducting a comprehensive review of the entire construction process for Line 2, including Phase 1. 2026-08-28 09:56:00
  • Grandson of Former Dictator Jeon Du-hwan Works as Delivery Driver
    Grandson of Former Dictator Jeon Du-hwan Works as Delivery Driver Jeon Woo-won, the grandson of former South Korean dictator Jeon Du-hwan, is currently making a living as a delivery driver.Jeon's situation was first revealed in March through the YouTube channel 'Hypocrite,' and it has recently gained renewed attention after another YouTube channel shared the video.In the video, Jeon explains that he goes to church for choir practice in the early morning before commuting for 1 hour and 20 minutes by public transport to a logistics center for an online shopping mall.At the logistics center, he handles an average of 500 to 600 books daily and performs loading and unloading tasks when delivery trucks arrive, working a total of eight hours a day, including lunch breaks.Jeon mentioned that this is the first time he has signed a work contract, stating, “I am grateful to be able to work at all because I made a significant mistake. I am trying to do my best.” He also expressed appreciation for his coworkers, saying, “They are really great. I am happy because of them.”However, he is suffering from back pain due to the physical nature of the job. He reported that the pain worsens every time he lifts a package and that he is seeking treatment at a traditional medicine clinic.Jeon shared, “I spent all the money I earned from my part-time job on an MRI scan. Fortunately, I was diagnosed with no major issues,” adding, “I think it’s been tough because I went from doing only administrative work to this physically demanding job.”He noted that the hospital has advised him to look for other work. “I feel like I’ve spent a lot of my part-time earnings on medical bills. My condition isn’t improving, and my back is getting worse,” he expressed.Earlier, in 2023, Jeon revealed the hidden wealth of the Jeon Du-hwan family through social media and announced his intention to forgo any inheritance left by his grandfather.In March of that year, he visited Gwangju to meet with victims and families of the May 18 Democratic Uprising, stating, “My grandfather Jeon Du-hwan committed a grave sin before the May 18 incident,” as he knelt and bowed his head.He has also shared an AI webtoon revealing his family history and is involved in drug addiction prevention activities.* This article has been translated by AI. 2026-08-28 09:56:00
  • Chinese Experts Criticize Trumps Order to Ban Foreign Power Grid Equipment as Political Stunt
    Chinese Experts Criticize Trump's Order to Ban Foreign Power Grid Equipment as Political Stunt Chinese experts have criticized President Donald Trump's executive order to exclude foreign equipment from the power grid, calling it a 'political stunt.'On August 26, Trump signed an executive order declaring a national emergency, citing that foreign equipment used in power systems could pose security threats. While the order does not explicitly name China, it is widely viewed as targeting Chinese products, which account for a significant portion of imports.The Chinese state-run Global Times, citing experts, reported on August 28 that 'the U.S. industry claims it needs Chinese products, yet the political sphere calls for a ban.' The report also noted that the U.S. Department of Energy (DOE) stated that Chinese products are safe, while the White House has labeled them as threats. In January, the DOE analyzed about 30 Chinese inverters and found 'no evidence of malicious communication equipment.' The report concluded that even if one inverter were hacked, the impact on the entire power grid would be limited. The media emphasized that despite the DOE's findings clearing Chinese equipment of suspicion, the executive order declared a national emergency, highlighting a 'serious inconsistency.'The media predicted that the actual impact of the ban would be negative. It stated, 'With transformer delivery times in the U.S. increasing from about 50 weeks in 2021 to over 120 weeks now, limiting Chinese supply will further delay power grid improvements and increase costs, ultimately burdening American ratepayers and businesses.'The media criticized, 'The U.S. is exaggerating the threat from China for its own political purposes,' asserting that 'this measure is merely a political show.'Meanwhile, Chinese Foreign Ministry spokesperson Lin Jian emphasized during a regular briefing on August 27 that 'China has always opposed the excessive expansion of the concept of national security to suppress foreign companies' and expressed hope that the U.S. would provide a fair, just, and non-discriminatory environment for companies from all countries.* This article has been translated by AI. 2026-08-28 09:52:10
  • Hyundai Mobis Partners with Hana Bank and Technology Guarantee Fund for Financial Support to Suppliers
    Hyundai Mobis Partners with Hana Bank and Technology Guarantee Fund for Financial Support to Suppliers Hyundai Mobis is taking steps to support its parts suppliers by partnering with financial institutions.On August 28, Hyundai Mobis announced that it has signed a co-prosperity guarantee memorandum of understanding (MOU) with Hana Bank and the Technology Guarantee Fund, aimed at providing financial support to its suppliers, with a total scale of 500 billion won.The guarantee fund is designed to assist small and medium-sized suppliers that possess excellent technology and growth potential but face difficulties in securing funding due to low credit ratings or lack of collateral.Under the agreement, Hyundai Mobis and Hana Bank will contribute a total of 30 billion won. Based on this, the Technology Guarantee Fund plans to establish a loan guarantee limit of 500 billion won to support suppliers in obtaining financing from first-tier banks. As a result, suppliers will benefit from preferential interest rates ranging from 3.9% to 4.9% at Hana Bank.Hyundai Mobis expects this support initiative will not only reduce the financial burden on suppliers but also contribute to increased investment in research and development (R&D) and production facilities through improved liquidity.Hyundai Mobis CEO Lee Gyu-seok stated, "This co-prosperity guarantee program has been established to support suppliers who have excellent technology but have struggled to secure growth opportunities due to financial conditions."Meanwhile, Hyundai Mobis is strengthening its automotive parts supply chain competitiveness with approximately 2,100 suppliers both domestically and internationally. The company is also contributing to the development of talent among its suppliers through programs like the Mobius Bootcamp for software talent.* This article has been translated by AI. 2026-08-28 09:52:10