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Profiler Questions Police's Murder Theory in Missing Person Case In the case of Jang Mi-ran, 37, who was found dead after being missing for 104 days in Jeju, a profiler has criticized the police's speculation about the cause of death.Profiler Bae Sang-hoon stated on YTN Radio's 'Jang Seong-cheol's News Myungdang' on August 26, "It was reckless for the police chief to publicly mention 'hanging' in the National Assembly, and the possibility of murder is 51.1%."While police believe the evidence for murder is low, Bae pointed to the fact that the body was discovered in a palm forest as a reason to consider murder more likely. He remarked, "It is rare for someone to enter an unfamiliar place and make a drastic choice. Did Jang have any experience in a strange space like a palm forest?"Jang's family has also raised questions about her being in the palm forest alone late at night, noting that she was generally fearful. Her father said, "My daughter told her boyfriend that the palm farm was a scary place she didn't want to go to," while her brother added, "Given her personality, she would have been afraid of bugs and wouldn't have walked her dog at that time."Bae emphasized, "The only clear fact is that she died from asphyxiation. All possibilities, including murder, suicide, or a third cause, remain open." He criticized the investigation agencies for potentially treating the case as a suicide, suggesting they should have approached it more cautiously, referring to it as 'sudden death' instead. However, he noted that the loss of crucial evidence over the 104 days could lead to the cause of death remaining 'undetermined.'Bae also commented on the actions of Deputy Chief Mo (34), who falsely closed the missing person case, stating that such behavior, while appearing irrational, is not uncommon in organizations with certain authorities like police, fire, and corrections. He described it as a form of 'hero crime' or heroism, which often occurs in groups with power, serving as a display of capability.He speculated that the tendency to quickly close cases rather than actually finding missing persons might have been positively received in the field as a way to reduce the number of cases to handle.Deputy Chief Mo received a commendation from the police chief a month after falsely closing Jang's case for locating a missing elderly person with dementia. He also received recognition for quickly finding a suicide attempt victim last September, despite ignoring family concerns about a 60-year-old man's potential suicide.Professor Lee Soo-jung from Kyonggi University speculated about the contradictions in Deputy Chief Mo's actions, suggesting that team evaluations might have pressured team members to support someone in line for promotion.Currently, police are conducting a comprehensive review of 298 cases handled by Deputy Chief Mo while he was on the missing persons team, investigating whether any were processed similarly to Jang's case.On August 27, Jeju Police Chief Ko Pyeong-ki issued a public apology, stating, "As the chief responsible for public safety in Jeju, I feel a heavy sense of responsibility. We will thoroughly investigate to ensure that the deceased has no grievances, and we will disclose the results without concealment."* This article has been translated by AI. 2026-08-28 08:48:00
Kim Min-seok: National Assembly Workshop Solidifies Commitment to K-Golden Era Kim Min-seok, leader of the Democratic Party, reflected on the National Assembly workshop held over two days, stating, "We have solidified our resolve for the K-Golden Era at this critical juncture of internal and external crises."During a Supreme Council meeting on the morning of August 28 at the Inspire Hotel in Incheon, Kim said, "This workshop was a crucial moment to commit to overcoming internal and external challenges with a focus on people's livelihoods."He added, "To open a new era of democracy and national sovereignty, every member of the National Assembly will operate with the determination to be the main agents of problem-solving," announcing a full-scale effort from the party to support national policy initiatives.Additionally, Kim expressed hopes for the safe return of South Korean citizens reported missing due to recent flooding in Nepal."I earnestly pray for the safe return of the missing individuals. President Lee Jae-myung held an emergency meeting the day before to direct response measures, and I also requested Minister of Foreign Affairs Park Jin to ensure that rescue personnel are dispatched without delay," he said. "Floor Leader Han Byeong-do will also take responsibility for all necessary actions at the National Assembly to ensure their safe return."Furthermore, Kim mentioned Kim Hyun-tae, former head of the 707th Special Mission Group, who was sentenced to 12 years in prison for involvement in the December 3 coup, emphasizing, "We will not let our guard down until the truth of the December 3 insurrection is revealed without any doubt and appropriate consequences are faced."* This article has been translated by AI. 2026-08-28 08:40:10
Samsung Biologics Plans 3 Trillion Won Capital Increase to Boost Growth Samsung Biologics is undertaking a capital increase of 3 trillion won to secure future growth as it aims to become a global top-tier contract development and manufacturing organization (CDMO).On August 28, Samsung Biologics announced through a board resolution that it will proceed with a capital increase totaling 3 trillion won.The company explained that the capital increase is intended to fund the acquisition of Polypeptide Group and the expansion of its second bio campus, continuing its strategy of expanding production capacity, portfolio, and geographical presence.The total amount to be raised is 3.09 trillion won, with a capital increase ratio of 4.904%. This will involve the issuance of 2.27 million shares at a planned issuance price of 1,322,000 won, reflecting a 15% discount.Of the funds raised, 2.7062 trillion won will be allocated to the acquisition of Polypeptide Group, a global peptide CDMO recently announced, while the remaining 294.8 billion won will be used for facility funding for the second bio campus in Songdo.In July, Samsung Biologics decided to acquire Polypeptide Group for 1.46 billion Swiss francs (approximately 2.7 trillion won), marking the largest merger and acquisition in the domestic pharmaceutical and biotech industry.According to Polypeptide Group, the global peptide pharmaceutical market is projected to grow from $94 billion (approximately 130 trillion won) in 2025 to $200 billion (approximately 276 trillion won) by 2031, with an average annual growth rate of 13.4%. This growth is particularly driven by the development and production of peptide-based treatments for obesity and diabetes.Through this capital increase, Samsung Biologics plans to accelerate its strategy of expanding production capacity, portfolio, and geographical presence. The acquisition of Polypeptide Group is expected to be completed within the year, broadening its business portfolio to include not only existing antibody drugs but also messenger RNA (mRNA) and antibody-drug conjugates (ADCs), as well as the high-growth modality of peptides.Additionally, the company aims to establish a global development and production network by securing Polypeptide Group's manufacturing facilities in Europe, the United States, and India.Funds allocated for the acquisition of Polypeptide Group, along with facility funds, will be used for the expansion of the second bio campus. Following the completion of the fifth factory in 2025, Samsung Biologics plans to sequentially complete four additional factories (6 to 8) with a capacity of 180,000 liters each, increasing its global antibody production capacity to 138,500 liters and solidifying its position as the leading CDMO in global production capacity.Samsung Biologics aims to proactively secure resources for large-scale growth investments through this capital increase while also enhancing its financial flexibility to respond to future investments.The expected capital increase ratio is around 5%, designed to minimize shareholder value dilution while allowing for substantial investment resource acquisition.The capital increase will be conducted through a rights offering followed by a public offering for any unsubscribed shares. According to capital market laws, 20% of the newly issued shares will be allocated to the employee stock ownership association, while the remaining shares will be offered to all shareholders based on their ownership percentage.The anticipated schedule includes the effectiveness of the securities registration statement on September 30, the record date for new share allocation on October 6, subscription for existing shareholders on November 9-10, public offering subscription (if any unsubscribed shares exist) on November 12-13, and listing of new shares on November 30.John Lim, CEO of Samsung Biologics, stated, "We initiated this capital increase to lay the foundation for our leap to becoming a global top-tier CDMO. We will do our utmost to enhance corporate value by steadily pursuing the expansion of our three pillars: the acquisition of Polypeptide Group and the expansion of the second bio campus."* This article has been translated by AI. 2026-08-28 08:36:00
Government to Purchase Long-Term Delinquent Loans Worth 5.6 Trillion Won The government will purchase long-term delinquent loans held by asset management companies and lenders through the New Leap Fund. In anticipation of increased repayment burdens for vulnerable borrowers due to rising interest rates, the government plans to convert high-interest loans for small businesses to a 4.5% interest rate and expand the supply of the Sunshine Loan.On the morning of August 28, at the Seoul Government Complex, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol chaired an emergency economic meeting, where he announced the "Support Plan for Vulnerable Borrowers in Response to Rising Interest Rates."◇Total Long-Term Delinquent Loans Estimated at 6 to 7 Trillion Won; Details to be Announced in Q4A comprehensive survey conducted in June revealed that the total amount of long-term delinquent loans, defined as loans overdue for more than seven years and under 50 million won, is estimated at 11 trillion won from asset management companies and up to 45 trillion won from lenders. The government plans to purchase as much of the 56 trillion won in targeted loans as possible through the New Leap Fund, aiming to either write off or restructure these debts in the second half of this year.Additionally, the government will pursue separate debt restructuring for personal business loans issued during the COVID-19 pandemic. Of the 358.7 trillion won in personal business loans provided by banks and policy financing institutions from 2020 to 2023, 154.7 trillion won (43.1%) remains unpaid.A Ministry of Economy and Finance official stated in a pre-briefing that the ratio of loans overdue for more than three months among unpaid loans is about 4%, estimating the total amount eligible for debt restructuring to be between 6 trillion and 7 trillion won. However, this figure is separate from the 56 trillion won in long-term delinquent loans held by asset management companies and lenders.The specific details regarding the loans to be written off or restructured, as well as the number of beneficiaries, have yet to be finalized. Loans from borrowers who have lost repayment ability will be purchased and written off, while options such as principal reductions or extended repayment periods will be considered for those with some repayment capacity.A detailed debt restructuring program is expected to be announced in the fourth quarter of this year. The government explained that to implement the program next year, it must determine the beneficiaries and support methods before the National Assembly finalizes the budget for the upcoming year.Long-term delinquent loans held by financial public institutions for over 20 years will be collectively written off in the second half of this year. The Ministry of Economy and Finance has determined that the likelihood of repayment for these loans is virtually nonexistent and that they hinder the normal financial activities of the borrowers. The Export-Import Bank plans to write off 16.2 billion won in long-term unpaid special bonds for small and medium-sized enterprises this year, along with the debts of guarantors such as CEOs.However, it was noted that the resolution of long-term delinquent loans over 20 years does not constitute a significant portion of the overall measures. The government plans to assess the repayment ability and recovery potential of borrowers rather than mechanically writing off loans based solely on the duration of delinquency.Measures will also be put in place to mitigate moral hazard and the sense of deprivation among diligent repayers due to debt forgiveness. Programs linking employment and rehabilitation will be provided for borrowers who undergo debt restructuring, while incentives will be expanded for diligent repayers in terms of interest rates and loan limits.A Ministry of Economy and Finance official stated, "Based on our experience with the New Start Fund, there have been very few cases of individuals intentionally defaulting on their debts to receive forgiveness. We also plan to provide incentives for those who transition to wage employment rather than re-establishing businesses in the same industry after debt restructuring."◇Bank of Korea Maintains 30 Trillion Won Support Fund at 1.25% Interest; Low-Interest Loans ExpandedDespite the increase in the benchmark interest rate, the Bank of Korea has decided to keep the interest rate for financial intermediary support loans at 1.25%. This program allows the Bank of Korea to supply funds to financial institutions at lower rates to reduce loan rates for small and medium-sized enterprises, with a total limit of 30 trillion won.To facilitate this, the Bank of Korea plans to expand the supply of financial intermediary support loans to local small and medium-sized enterprises and personal businesses starting next year.The Small Enterprise and Market Promotion Agency will expand the target for converting high-interest loans above 7% to 4.5% loans, extending the approval period from loans approved before the end of June 2025 to those approved before the end of December 2025.The scale of the "Hope Dream Loan" provided by Industrial Bank will double from 1.5 trillion won this year to 3 trillion won. The limit for the Industrial Bank's interest rate conversion support fund will increase from 1 trillion won this year to 1.5 trillion won next year. The policy fund supply scale from the Small and Medium Venture Business Promotion Agency will increase from 360 billion won this year to approximately three times that amount next year.Support for low-income finance will also be expanded. The annual supply scale of the Sunshine Loan's general and special guarantees will increase from 5.9 trillion won this year to 6.2 trillion won next year, an increase of 300 billion won. A new small loan program offering 1 million won at a 4.5% interest rate with a 10-year maturity will be launched next year for individuals with low to moderate credit scores.The loan limit for youth-targeted microfinance will be raised from 5 million won to 10 million won. Young individuals with an annual income of 35 million won or less and in the bottom 50% of credit scores will also be included in the new support target.A policy mortgage allowing young individuals without homes to purchase non-apartment housing under 400 million won with low interest rates and an 80% loan-to-value ratio will be considered for launch next year. Banks will also be encouraged to introduce pure fixed-rate mortgage products with a term of over 10 years.A Ministry of Economy and Finance official stated, "This plan was not specifically designed based on a benchmark interest rate of 3.0%. It is a support measure prepared by relevant departments over the past two to three months in anticipation of the possibility of further interest rate increases and the overall trend of rising rates."* This article has been translated by AI. 2026-08-28 08:32:00
Government to Revamp Procurement System for Innovative Technologies The government plans to reform its procurement system to allow the purchase of national strategic technologies that succeed in research and development (R&D) competitions without requiring a separate bidding process. This initiative aims to utilize the public procurement market, valued at 238 trillion won annually, as an initial demand source for innovative technologies, thereby reducing the gap between technology development and market entry.On the morning of August 28, at the Seoul Government Complex, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol chaired a meeting of the Emergency Economic Headquarters, which also served as a meeting for the Economic Relations Ministers and a task force for special management of living prices. During this meeting, the government announced its plan for the 'Reform of the National Contract System to Promote Innovative Technologies.'Under the current system, even if a technology is developed through government R&D projects, public institutions must undergo a competitive bidding process to purchase the results. This separation between development, governed by the National Research and Development Innovation Act, and procurement, governed by the National Contract Act, has led to delays in the introduction of advanced technologies in rapidly evolving fields.The government will introduce three new innovative contract tracks: development-purchase linkage, performance goal-based, and pilot exceptions, which will relax or defer the principles of competitive bidding and pre-specification in national contracts.The development-purchase linkage track allows for the procurement of successful outcomes without re-bidding if there was substantial competition in the selection process for the R&D performing organization. Successful developers can supply their products to public institutions under pre-announced conditions without undergoing a new bidding process.This applies to national strategic technologies as defined by law. When a relevant central ministry applies, the Ministry of Economy and Finance's Procurement Policy Review Committee will review and grant the authority to link development and procurement contracts.During the R&D proposal stage, the government will set criteria for success, the scope and duration of purchases, and purchase limits in advance, with specific quantities and unit prices confirmed after development. The government expects that this will encourage more participation from capable private companies by providing them with a clear initial market opportunity upon successful development.However, success in development does not guarantee a purchase. If the goals are not met, demand disappears during the development process, or superior technologies emerge rendering the results obsolete, the contracting agency can adjust or terminate the contract through its innovative contract review committee.The existing conditional purchase R&D and innovative product systems will remain in place. While the previous system focused on securing market access for small and venture businesses, the new tracks will primarily target the early commercialization of large and complex technology projects and national strategic technologies.For high-difficulty and high-risk projects, a 'performance goal-based competitive dialogue' method will be introduced. Contracting agencies will present performance goals instead of specific specifications and engage in discussions with bidding companies to determine the most suitable technology and contract method. This approach can apply to both goods and service contracts.In cases where it is difficult to set a contract price in advance, contracts can be made based on estimated prices, with post-settlement possible. Payments can be divided based on the achievement of project milestones, and contract amounts can be adjusted based on performance. Adjustments to required performance and contract amounts due to technological changes, as well as joint ownership of intellectual property rights between the state and companies, will also be permitted.For 'good faith failures' where the obligation of good faith is met but goals are not achieved due to technical limitations, some sunk costs will be recognized, and administrative sanctions will be waived. Exemptions from audits will also apply to contract officials who follow the established review procedures.In the case of the space launch vehicle project, the Korea Aerospace Administration will present performance goals such as launch costs and transportation services, and contracts can be established through competitive dialogue with companies. Payments will be made based on milestone achievements, and contract conditions can be adjusted according to the status of technology development.The government will also expand the procurement sandbox that temporarily relaxes existing contract regulations. The scope of exceptions, currently limited to the method of selecting successful bidders, will be broadened to include contract signing and execution, payment, and contract modifications. A pilot project will be conducted for two years with the approval of the Minister of Economy and Finance, and if effective, it will be formally incorporated into national contract regulations.The government plans to submit a bill amending the National Contract Act, which includes the three innovative contract tracks, in September. This will be bundled with the Special Act on Fostering Innovative Enterprises for Future New Security and the Defense Advanced Power Business Act, collectively referred to as the 'Three New Security Laws,' with the goal of implementation within the year. Following the legal amendments, a support team will be established at the Public Procurement Service to identify applicable projects starting in 2027.* This article has been translated by AI. 2026-08-28 08:32:00
Government to Investigate Collusion in Essential Goods and Services Starting in September The government will begin a phased investigation into collusion and unfair trade practices in essential goods and services, education, and energy starting next month. Companies that repeatedly engage in collusion may face orders to divest their businesses, as well as the cancellation of licenses and permits, as part of proposed legal amendments. On the morning of August 28, the government announced its "Plan for a Joint Government Response to Protect Livelihoods" during an emergency economic headquarters meeting led by Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol. Previously, the government focused its response on three major areas directly related to public safety: voice phishing, transnational crime, and drug-related issues. Moving forward, it will expand its scope to include unfair trade practices and crimes that exploit systems and entrenched bad habits. Key targets for this response include collusion, abuse of monopoly power, rental and insurance fraud, scalping, excessive pricing, and illegal private lending and debt collection. The government will also crack down on deceptive consumer practices that exploit tariff quotas for undue profit. The Fair Trade Commission plans to investigate essential goods and services, education, and energy, starting with food and housing, which have a high impact on citizens. Earlier this year, the government uncovered approximately 20 trillion won in collusion in the food sector, including sugar and flour. If initial evidence of legal violations is found during the collusion investigation, the government will immediately collaborate with law enforcement agencies and the National Tax Service and Customs Service. This approach aims to enhance the speed of responses to legal violations by linking administrative investigations with tax and customs inquiries from the outset. To increase the likelihood of detecting unfair trade practices, the government eliminated the cap on whistleblower rewards in June. It is also pursuing amendments to the Fair Trade Act to extend the statute of limitations for collusion, allowing for penalties even if collusion is discovered after a long period. The government plans to impose stricter penalties on habitual colluders. Companies that repeatedly engage in collusion may face orders to divest their businesses, as well as the cancellation of registrations and permits or suspension of operations. This decision comes from the belief that imposing fines alone is insufficient to deter collusion, necessitating measures that either remove the business from the market or restrict its operations. The joint response team will operate as a vice-ministerial consultative body, led by the Ministry of Economy and Finance and the Fair Trade Commission, with participation from the National Police Agency, Ministry of Agriculture, Food and Rural Affairs, Ministry of Oceans and Fisheries, Ministry of Trade, Industry and Energy, Ministry of Land, Infrastructure and Transport, Ministry of Culture, Sports and Tourism, Ministry of Science and ICT, Financial Services Commission, Financial Supervisory Service, National Tax Service, and Customs Service. The joint response team will share investigation and enforcement information among agencies and jointly crack down on livelihood infringements. Reports on the detection of collusion and improvements in unfair practices will be periodically submitted to the task force for special management of the cost of living and announced publicly.* This article has been translated by AI. 2026-08-28 08:32:00
Samsung Showcases Gaming Innovations at Gamescom 2026 in Germany Samsung Electronics presented a range of gaming products and services at Gamescom 2026, the world's largest gaming exhibition held in Cologne, Germany.The company announced that its exhibition, themed '#PlaySamsung', will run from August 26 to 30.The exhibition features the 'Odyssey Zone', 'Galaxy Zone', 'Gaming Hub Zone', and 'T1 Zone'. Visitors can experience Samsung's gaming monitors, smartphones, and gaming services in each area.Samsung has integrated PC, console, and mobile gaming into a single exhibition space, showcasing the gaming ecosystem it is building with tailored gaming environments for each device.Notably, the exhibition includes interactive displays that allow visitors to use the products and enjoy gaming firsthand. Samsung focuses on enhancing gamers' experiences by connecting gaming content with devices.* This article has been translated by AI. 2026-08-28 08:24:00
Market Preview: KOSPI Faces Caution Ahead of 7000 Mark Despite Nvidia Boost U.S. technology stocks are expected to gain momentum in the domestic market, buoyed by strong performances from Nvidia and Salesforce. However, as much of the positive news from Nvidia has already been priced in, and with rising U.S. long-term interest rates and international oil prices, the KOSPI may not surge past the 7000 mark immediately, leading to potential sector differentiation.On the night of the 27th (local time), the New York Stock Exchange rose, driven by the robust earnings of Nvidia and Salesforce. The Nasdaq Composite Index closed up 411.16 points (1.57%) at 26,541.35. The S&P 500 gained 55.29 points (0.72%) to finish at 7,730.99, while the Dow Jones Industrial Average rose 105.56 points (0.20%) to close at 53,569.44.The yield on U.S. 10-year Treasury bonds remains high at 4.67%, while the 30-year yield stands at 5.19%. International oil prices have also increased, with WTI reaching $83.60 per barrel due to delays in U.S.-Iran negotiations.Nvidia was the primary driver of the stock market's rise, projecting a 70% revenue growth rate for the 2028 fiscal year, significantly exceeding the market expectation of 44%. The announcement of a partnership to supply 2 million GPUs to Amazon Web Services (AWS) alleviated concerns about a slowdown in AI investment, leading to an 8.74% surge in its stock price.Salesforce also saw a 22.58% increase, as its results confirmed that AI is enhancing contracts and usage rather than replacing existing software, improving investor sentiment across the AI-related software sector.In the domestic market, semiconductor stocks are expected to be the primary beneficiaries. Nvidia's optimistic growth outlook may heighten expectations for the HBM supply chain. On the previous night, SK Hynix's American Depositary Receipts (ADRs) rose by 2.27%, and the Philadelphia Semiconductor Index increased by 2.33%.However, not all U.S. semiconductor stocks mirrored Nvidia's strong performance. Micron fell by 0.32%, and SanDisk dropped by 0.96%. Concerns have emerged that rising memory and component prices, as indicated in Nvidia's earnings report, could pressure the profitability of hardware companies in servers and PCs.The key to further gains in the domestic market hinges on the KOSPI's ability to settle above the 7000 mark. Han Ji-young, a researcher at Kiwoom Securities, stated, "Beyond today's stock movements, what we need to focus on regarding the KOSPI's direction is whether it can break through and settle above the 7000-point mark, which has been challenged multiple times in August."Valuations and earnings forecasts remain favorable. As of the 27th, the consensus for KOSPI's operating profit for 2026 and 2027 has been revised upward to 989.7 trillion won and 1,314.3 trillion won, respectively, compared to the end of July. Volatility has also decreased, with the VKOSPI falling from the 84-point range at the end of July to the 53-point range.However, the domestic market may see limited gains today due to profit-taking following the previous day's surge and caution ahead of the Jackson Hole meeting. While a rising trend continues in semiconductors, it will be important to observe whether buying interest spreads to related sectors such as software and AI infrastructure.In the domestic pre-market, mixed signals are emerging from U.S. developments. Samsung Electronics and SK Hynix are showing declines of 0.94% and 0.92%, respectively. One analyst noted, "Today, the domestic market is likely to exhibit a cautious stance, reflecting the strong performance of the Nasdaq and the Philadelphia Semiconductor Index driven by Nvidia and Salesforce, while also considering the pre-priced perception and the anticipation of Chairman Kevin Warsh's speech at Jackson Hole, leading to sector differentiation."* This article has been translated by AI. 2026-08-28 08:20:20
Crown Park Hotel Seoul Wins ICT Award for AI Chatbot Implementation Crown Park Hotel Seoul has streamlined its booking process and introduced a 24-hour AI chatbot for inquiries, earning recognition with the 'Platinum Prize' in the hotel and resort category at the ICT Award Korea 2026.According to Crown Park Hotel Seoul, the newly revamped official website was awarded the 'Platinum Prize' in the hotel and resort category at the ICT Award Korea 2026.On August 28, the hotel reported that the ICT Award Korea, now in its 23rd year, is organized by the Korea Information Science Promotion Association and Sungkyunkwan University, with support from the Ministry of Science and ICT. The awards recognize outstanding web, app, and digital platform projects.The hotel redesigned its website to make key information about rooms and facilities easily accessible, reducing the steps required for room searches and bookings.The site is optimized for various devices, including PCs and mobile phones, and features an AI chatbot that can assist with reservations and facility inquiries 24/7.The hotel emphasized that the website redesign aimed to reflect its concept of 'urban relaxation' online.Lee Joo-hye, a director at Crown Park Hotel Seoul, stated, "We redesigned the website from the ground up, viewing it not just as a promotional tool but as the first point of contact for customers with the hotel. We plan to gradually revamp the websites for Crown Harbor Hotel Busan and Jeju Crown Country Club to highlight the unique characteristics of each property."The Crown Group operates Crown Park Hotel Seoul, Crown Harbor Hotel Busan, and Jeju Crown Country Club.* This article has been translated by AI. 2026-08-28 08:20:00
Yuanta Securities Raises S-Oil Target Price by 17.1% Amid Strong Refining Margins Yuanta Securities announced on August 28 that it has raised its target price for S-Oil from 175,000 won to 205,000 won, an increase of 17.1%, citing strong refining margins and improved crude oil import costs expected in the second half of the year. The firm maintained its 'buy' rating.Hwang Kyu-won, a researcher at Yuanta Securities, stated, "The refining sector is experiencing a much stronger performance than anticipated, establishing a virtuous cycle of increased shareholder value. We expect improvements in earnings, reduced financial burdens, and expanded dividends to occur simultaneously in the second half of the year."S-Oil's operating profit for the second half of the year is projected to reach 3 trillion won, a significant increase from 2.4 trillion won in the first half. The operating profits for the third and fourth quarters are estimated at 1.3 trillion won and 1.7 trillion won, respectively. The ongoing disruptions in global refining product supply due to the impacts of the Iran-Ukraine war are expected to sustain strong refining margins.Notably, S-Oil's complex refining margin has exceeded $41 per barrel in the second and third quarters, surpassing Valero's $39 per barrel. This increase is supported by reduced gasoline and diesel supply in Asia due to drone attacks on Russian refining facilities.Starting in September, improvements in costs are anticipated due to a decrease in Saudi Arabia's official selling price (OSP) for crude oil. A $1 drop in OSP is estimated to increase S-Oil's annual operating profit by approximately 300 billion won.Hwang forecasts S-Oil's operating profit for this year to be 5.2 trillion won, with free cash flow expected to expand to 2.4 trillion won this year and 3 trillion won next year. Based on this, he predicts that S-Oil could reduce its net debt to below 6 trillion won by 2027 and increase its dividend per share to around 10,000 won.* This article has been translated by AI. 2026-08-28 08:16:00