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  • Kia unveils revamped SUV lineup with new black editions
    Kia unveils revamped SUV lineup with new black editions SEOUL, August 27 (AJP) - Automaker Kia unveiled the latest versions of its key sport utility vehicles (SUVs), along with their special black editions on Thursday. The automaker said the facelifted versions of its flagship trio, the Carnival, Sorento and Sportage, offer customers more options to choose from along with enhanced convenience features, while their special black editions would apple to customers seeking a tougher and more premium look. In particular, the special editions, based on the highest trims, boast exclusive interior and exterior designs with an all-black theme for a more high-end look. They come with an all-black interior including black headrest emblems and a black suede headliner. The exterior features dark metal and glossy black elements, as well as exclusive wheels. "The Carnival, Sorento and Sportage are among the key models leading the country's recreational vehicle (RV) market," a Kia spokesman said, adding that the new versions will further strengthen its position in the market. AJP Takeaways • Kia unveiled revamped versions of its Carnival, Sorento and Sportage SUVs on Aug. 27, 2026, with upgraded convenience features and more options for customers. • Kia also introduced special black editions based on the highest trims, featuring all-black interiors, dark metal and glossy black exterior elements and exclusive wheels for a more premium look. • Kia said the Carnival, Sorento and Sportage are key models in Korea’s recreational vehicle market and that the new versions will help strengthen its market position. 2026-08-27 10:58:18
  • Trump Says No Rush for Negotiations with Iran as War Approaches Six-Month Mark
    Trump Says No Rush for Negotiations with Iran as War Approaches Six-Month Mark President Donald Trump stated that he is not rushing negotiations with Iran as the conflict approaches its six-month mark. In an interview with the prominent Arab media outlet Al Jazeera on August 26, Trump emphasized that he has not set a deadline for Iran to return to the negotiating table. "There is no deadline. Not at all," he said. "I am not in a hurry. I have not set any deadline." He further claimed, "We are winning big," asserting that Iran is experiencing severe inflation and a collapsing economy. He also criticized the Iranian government for its harsh treatment of citizens, stating that many protesters have been killed. Trump reiterated, "I have no set deadline." When asked whether economic sanctions against Iran are more effective than military action, Trump responded, "I think both are effective." However, Al Jazeera noted that Trump's comments contradict his earlier statements suggesting the war would not last long. On February 28, following airstrikes on Iran in coordination with Israel, Trump indicated that the conflict could end in "four to six weeks." In June, the U.S. and Iran signed a memorandum of understanding in Islamabad, moving towards a ceasefire. However, tensions escalated in July when the U.S. claimed an Iranian attack on a commercial vessel in the Strait of Hormuz prompted military action. Since then, the two sides have returned to a confrontational stance. This month, the U.S. shifted its approach from military action to increasing economic pressure on Iran. On August 24, U.S. Treasury Secretary Scott Vance announced an 'economic isolation operation' aimed at isolating Iran economically, including sanctions on third countries that engage in trade with Iran. The Atlantic reported that Trump's pivot to economic sanctions could be a strategy to divert voter attention from the Iran war ahead of the midterm elections. Meanwhile, diplomatic efforts through intermediary countries are intensifying. Following a Pakistani delegation's visit to Iran on August 24, Qatari Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al Thani is expected to visit Iran on August 27 to engage in mediation. On the other hand, Iran announced on August 26 that it had reached a phased agreement with Oman to reopen safe navigation in the Strait of Hormuz, including the establishment of a 'temporary joint maritime corridor' and a 'joint project for mine removal.' This agreement came just a day after the U.S. announced its economic sanctions against Iran, indicating a push for diplomatic discussions to normalize navigation in the Strait amid heightened economic pressure from the U.S. However, Kazem Gharibabadi, Iran's Deputy Foreign Minister, stated on state television that under the agreement, while commercial vessels may pass through the Strait of Hormuz, military ships will not be allowed. He explained that commercial vessels entering the Persian Gulf will use Iranian waterways, while those exiting will navigate through parts of both Iranian and Omani waterways. He added that the currently agreed-upon maritime corridor is a temporary measure, with discussions for a permanent corridor expected within the next 30 to 60 days.* This article has been translated by AI. 2026-08-27 10:52:10
  • Youth Cultural Arts Pass Introduces Government Integrated Authentication for Easier Access
    Youth Cultural Arts Pass Introduces Government Integrated Authentication for Easier Access The Korea Arts Council announced on August 27 that it has implemented 'Government Integrated Authentication (Any-ID)' on the Youth Cultural Arts Pass website.'Government Integrated Authentication (Any-ID)' is a service operated by the Ministry of the Interior and Safety. It allows young people to log in just once using their preferred authentication method, such as a mobile ID, simple authentication, or financial certificate, to access various electronic government websites and public services without needing to re-authenticate.The Korea Arts Council expects that the introduction of Government Integrated Authentication (Any-ID) will enable young people to obtain the Youth Cultural Arts Pass more conveniently, without the hassle of managing separate usernames and passwords. The council plans to continue improving the service to make cultural and artistic experiences more accessible for youth.The Youth Cultural Arts Pass is a program designed to expand cultural and artistic opportunities for young people aged 19 to 20 by providing financial support for attending performances, exhibitions, movies, and purchasing books. It offers a one-time grant of 150,000 to 200,000 won.For more details about the Youth Cultural Arts Pass, visit the official website.* This article has been translated by AI. 2026-08-27 10:52:00
  • Bank of Korea Raises Interest Rates, Impact on Stock Market Debated
    Bank of Korea Raises Interest Rates, Impact on Stock Market Debated The Bank of Korea is drawing attention for its impact on the stock market following two consecutive interest rate hikes.On August 27, the Bank's Monetary Policy Committee held a meeting and raised the benchmark interest rate from 2.75% to 3.00%, an increase of 0.25 percentage points. This follows a previous hike from 2.50% to 2.75% last month. Instances of the Bank raising rates consecutively are rare, and this marks the first time it has done so at the beginning of a rate hike cycle.The decision was driven by stronger-than-expected economic growth. In the second quarter of this year, the real GDP growth rate was recorded at 0.6% compared to the previous quarter, maintaining positive growth. Consequently, the Bank significantly revised its annual economic growth forecast from 2.6% to 3.3%, and also raised next year's growth rate to 2.9%.As the Bank accelerates its hawkish stance due to the economic upturn, immediate tension and unease have emerged in the stock market.Typically, interest rate hikes increase corporate borrowing costs and absorb liquidity from the market, negatively affecting the stock market. The consecutive rate increases have raised concerns about deteriorating performance for struggling companies and have led to a decline in investor sentiment, potentially increasing downward pressure on the KOSPI and KOSDAQ indices.In response to this news, online communities and stock investors have engaged in heated debates regarding the potential impact on the stock market and the economy.One user expressed concern, stating, "The KOSPI is dropping sharply because of this," highlighting fears of short-term market declines and weakened investor confidence.Voices pointing out the struggles of the real economy and small business owners have also grown louder. Many users criticized the government for its contradictory policies, saying, "Only small business owners and those without homes will suffer from high interest rates, while the government distributes consumer coupons and the Bank raises rates, leading to a mismatch in policy that harms the lower classes and struggling companies."Conversely, some view the Bank's proactive decision to control inflation positively. One user remarked, "If we don't address inflation now, it will explode later," emphasizing the necessity of the rate hike. Another user praised Bank Governor Lee Chang-yong for decisively managing inflation, calling it an unavoidable measure for long-term economic stability.* This article has been translated by AI. 2026-08-27 10:48:20
  • Bank of Korea Raises Interest Rate to 3% to Curb Inflation
    Bank of Korea Raises Interest Rate to 3% to Curb Inflation The Bank of Korea's Monetary Policy Committee raised the benchmark interest rate from 2.75% to 3.00% on August 27, stating that "preemptive measures are necessary to prevent the spread of rising prices and to remain vigilant against financial stability risks."In its monetary policy direction statement, the committee noted, "The domestic economy is expected to maintain solid growth, supported by strong increases in exports and investment, along with a gradual recovery in consumption." It added that inflation is likely to exceed the target level for an extended period due to ongoing cost pressures and increasing demand-side pressures stemming from improved income conditions.The committee emphasized that it will monitor growth trends while ensuring that inflation stabilizes at the target level over the medium term, and it will manage monetary policy with a focus on financial stability. It stated, "We will closely examine price trends, economic conditions, and financial stability to determine the timing and pace of any further rate increases."During the decision-making process, six committee members supported the rate hike, while member Hwang Geon-il expressed a minority opinion favoring a freeze at 2.75%.Below is the full text of the monetary policy direction statement.The Monetary Policy Committee has decided to raise the Bank of Korea's benchmark interest rate from the current level of 2.75% to 3.00% until the next monetary policy direction decision. The domestic economy is continuing a higher-than-expected growth trend, supported by strong exports and a recovery in domestic demand, while inflation is projected to exceed the target level for an extended period. In this context, it is crucial to take preemptive measures to prevent the spread of rising prices and to remain vigilant against financial stability risks, leading to the decision to raise the benchmark interest rate by 0.25 percentage points.The global economy is showing moderate growth, supported by solid AI investments, despite ongoing tensions in the Middle East. Inflation is expected to remain high in the near term due to rising energy prices. In international financial markets, uncertainties related to U.S. Federal Reserve monetary policy and the situation in the Middle East persist, leading to concerns about fiscal health in major countries, which has resulted in rising long-term government bond yields and a weakening U.S. dollar. Stock prices have generally risen, reflecting strong corporate earnings despite concerns about the profitability of global AI investments. The global economy and international financial markets are expected to be influenced by developments in the Middle East, AI investment prospects, monetary and fiscal policies in major countries, and changes in trade environments.The domestic economy has sustained high growth, driven by exports and investment. Employment has shown a modest increase, particularly in the services sector. The domestic economy is expected to continue its solid growth, supported by strong semiconductor market conditions, ongoing increases in exports and investment, and a gradual recovery in consumption due to improved income conditions. Consequently, growth rates for this year and next year are projected to significantly exceed the forecasts made in May (2.6% and 2.1%, respectively), reaching 3.3% and 2.9%. However, uncertainties related to the expansion of the semiconductor market, the extent of domestic spillover effects, developments in the Middle East, and changes in trade environments remain.Regarding inflation, the consumer price inflation rate fell to 2.8% in July as the rise in oil and agricultural prices slowed, but the core inflation rate (excluding food and energy) increased to 2.6% due to rising prices in personal services and durable goods. Short-term inflation expectations among the public remain in the high 2% range. Going forward, inflation is expected to exceed the target level for an extended period due to ongoing cost pressures and increasing demand-side pressures stemming from improved income conditions. Therefore, consumer price inflation rates for this year and next year are projected to remain at 2.7% and 2.3%, respectively, while core inflation rates are expected to exceed previous forecasts (2.4% and 2.3%) at 2.5% for both years. Future inflation trajectories are subject to significant uncertainties related to international oil prices, exchange rate movements, the pace of domestic recovery, and the spread of wage increases.In the financial and foreign exchange markets, high volatility in key price variables has persisted. The won-dollar exchange rate fell significantly due to improved foreign exchange supply conditions, including a reduction in foreign stock fund outflows, and a weakening U.S. dollar. Government bond yields fluctuated significantly, influenced by the expansion of domestic economic growth, movements in U.S. Treasury yields, and international oil prices. Stock prices, particularly in the semiconductor sector, experienced sharp declines before partially rebounding. Housing prices in the metropolitan area continued to rise sharply, and household debt also increased significantly.The Monetary Policy Committee will continue to monitor growth trends while ensuring that inflation stabilizes at the target level over the medium term, and it will manage monetary policy with a focus on financial stability. The domestic economy is expected to maintain solid growth, supported by strong exports and investment, along with a gradual recovery in consumption. Inflation is projected to exceed the target level for an extended period due to accumulated cost pressures and increasing demand-side pressures. In terms of financial stability, continued vigilance is necessary regarding rising housing prices in the metropolitan area and the increasing trend of household debt. Therefore, future monetary policy will be determined based on a close examination of price trends, economic conditions, and financial stability, including the timing and pace of any additional rate increases.In the recent decision to raise the benchmark interest rate, six members of the Monetary Policy Committee were in favor, while Hwang Geon-il expressed the opinion that maintaining the rate at 2.75% would be preferable.* This article has been translated by AI. 2026-08-27 10:48:10
  • Seoul tourist spending surges 70% as arrivals hit record
    Seoul tourist spending surges 70% as arrivals hit record SEOUL, Aug. 27 (AJP)-Foreign tourists are spending substantially more in Seoul even as visitor numbers hit records, with card spending surging nearly 70 percent in July — more than three times the pace of growth in arrivals, metropolitan government data showed Thursday. Seoul welcomed a record 1.61 million foreign visitors in July, up 20.8 percent from a year earlier, while their card spending jumped steeper 69.7 percent to 1.07 trillion won ($770 million). The figures imply average card spending of about 665,000 won per visitor, up roughly 40 percent from a year earlier, underscoring a shift toward higher-value tourism as visitors spend more on shopping, medical services and dining. July marked the fourth straight month that foreign tourist card spending in the capital exceeded 1 trillion won. From January through July, Seoul drew 9.83 million foreign visitors, up 21.3 percent from a year earlier. Tourist card spending over the same period rose 58.7 percent to 6.69 trillion won. China remained the largest source market in July with 600,000 visitors, followed by Japan with 250,000, Taiwan with 200,000 and the United States with 120,000. Shopping remained the biggest spending category from January through July, accounting for 46.4 percent of foreign tourist card spending. Medical and wellness services accounted for 24.4 percent, followed by dining at 13.1 percent. Spending on medical tourism rose 63.9 percent from a year earlier, while restaurant spending increased 56.4 percent. The figures suggest that Seoul's tourism recovery is being driven not only by rising visitor numbers but also by stronger spending per traveler, particularly in higher-value service sectors. The metropolitan government said it plans to expand medical, wellness, beauty and nighttime tourism programs to encourage visitors to stay longer and spend more. AJP Takeaways Foreign tourist card spending in Seoul jumped 69.7 percent in July, more than three times the 20.8 percent growth in visitor arrivals. Average card spending per visitor rose roughly 40 percent, pointing to stronger spending intensity as tourism volumes hit records. Shopping remained the largest spending category, while medical and wellness services accounted for nearly a quarter of foreign tourist spending. -- Foreign tourist spending in Seoul grew more than three times faster than visitor arrivals in July, metropolitan government data showed Thursday. Seoul welcomed a record 1.61 million foreign visitors in July, up 20.8 percent from a year earlier, while card spending by foreign tourists jumped 69.7 percent to 1.07 trillion won ($770 million). July marked the fourth straight month that foreign tourist card spending in the capital stayed above 1 trillion won. Seoul drew 9.83 million foreign visitors from January to July, up 21.3 percent from a year earlier. Tourist card spending over the same period rose 58.7 percent to 6.69 trillion won. China was the largest source market in July with 600,000 visitors, followed by Japan with 250,000, Taiwan with 200,000 and the United States with 120,000. Shopping remained the biggest spending category from January to July, accounting for 46.4 percent of foreign tourist card spending. Medical and wellness services accounted for 24.4 percent, followed by dining at 13.1 percent. Medical tourism spending rose 63.9 percent from a year earlier, while restaurant spending increased 56.4 percent. The city said it plans to expand medical, wellness, beauty and nighttime tourism programs to encourage visitors to stay longer and spend more. AJP Takeaways · Foreign tourist spending in Seoul grew more than three times faster than visitor arrivals in July. · Seoul welcomed a record 1.61 million foreign visitors, up 20.8 percent from a year earlier. · Tourist card spending jumped 69.7 percent to 1.07 trillion won. 2026-08-27 10:46:39
  • SK Telecom and Naver Cloud Collaborate on AI Foundation Model for Cybersecurity
    SK Telecom and Naver Cloud Collaborate on AI Foundation Model for Cybersecurity The Ministry of Science and ICT's project to develop specialized artificial intelligence (AI) foundation models for cybersecurity has seen SK Telecom (SKT) and Naver Cloud unveil their development strategies. Both companies aim to leverage their expertise in developing and commercializing proprietary AI foundation models to enhance security capabilities.According to industry sources on August 27, the application period for the foundation model project closed the previous day, with SKT and Naver Cloud each forming their own consortiums to apply.SKT has partnered with major domestic AI and security firms, including Upstage, SK Shieldus, and AhnLab, as well as the Korea Information Security Industry Association (KISIA) to form its consortium.SKT and Upstage plan to develop security-focused models based on their respective proprietary projects, 'A-dot X K' and 'Solar Open.' They intend to apply the technological expertise gained during the development of general-purpose foundation models to enhance the specialization of their security models.The models will be validated through application in the security operations and commercial products of the consortium members. Companies like SK Shieldus and AhnLab will utilize data collected from actual security environments for training and will also validate model performance in their security products and monitoring environments.Naver Cloud has also formed a consortium with LG AI Research, a company specializing in attack and detection technologies, and universities focused on vulnerability and AI stability research. They plan to develop models optimized for the domestic security environment based on their full-stack capabilities, which encompass AI models, infrastructure, security, and data.Like SKT, Naver Cloud aims to focus on developing models specialized for security based on the technological expertise accumulated during the foundation model development process. They will particularly leverage their experience in deploying and operating foundation models in highly regulated sectors such as nuclear energy and finance, adapting them for closed networks and on-premises environments.Additionally, Naver Cloud plans to integrate its experience in managing cyber threats, monitoring, and defense, along with data encryption and isolation technologies based on public cloud security certification (CSAP), to create practical models applicable in real-world scenarios.Meanwhile, the Ministry of Science and ICT will evaluate the proposals and select the final project participants. The selected companies will receive support for 256 NVIDIA graphics processing units (GPUs) B200 over approximately ten months, starting next month and continuing until July 2027.* This article has been translated by AI. 2026-08-27 10:44:10
  • Anyang Fire Department Conducts Joint Training for Electric Bus Fire Response
    Anyang Fire Department Conducts Joint Training for Electric Bus Fire Response The Anyang Fire Department conducted joint on-site training on August 26 to prepare for fires involving electric buses and other eco-friendly vehicles. According to the fire department, the training took place at the Seoksu Public Garage and involved firefighters, city officials, and transportation company representatives. Participants learned about the structure and fire characteristics of electric buses, combining on-site education with practical exercises to ensure rapid response in real fire situations. The training focused on identifying electric vehicles, cutting off high-voltage battery power, and utilizing fire safety equipment and space within the garage. Notably, large water tanks were used to test fire response methods on actual vehicles, while also reviewing suppression techniques and safety measures tailored to electric vehicle fires. Both firefighters and garage staff practiced response procedures together, emphasizing the importance of strengthening inter-agency collaboration in emergencies. Local citizens using the Seoksu Public Garage expressed interest in the training, particularly regarding preparedness for electric bus fires. One citizen remarked, “As the use of electric buses increases, it’s reassuring to see training that simulates real situations. I hope ongoing preparations ensure the safety of public transportation for citizens.” Fire Chief Kim Ji-han stated, “As the adoption of electric vehicles expands, it is crucial to develop specialized response capabilities that match the characteristics of these vehicles. We will continue to enhance our ability to respond quickly and safely through on-site training.” Meanwhile, the fire department plans to continue joint training with relevant agencies, recognizing the need for specialized responses that consider vehicle structure and battery characteristics in the event of a fire.* This article has been translated by AI. 2026-08-27 10:36:00
  • KOSPI pares Nvidia rally after BOK hikes to 3%
    KOSPI pares Nvidia rally after BOK hikes to 3% SEOUL, August 27 (AJP) — South Korea's KOSPI gave up more than half of its Nvidia-fueled early gains Thursday after the Bank of Korea (BOK) delivered a surprising back-to-back rate hike to 3 percent, tempering a rally in Korean chipmakers that had pushed the benchmark close to 7,000. The KOSPI traded at 6,864.75 as of 10:20 a.m., up 0.84 percent, after jumping more than 2 percent earlier in the session on Nvidia's bullish outlook for artificial intelligence demand and warnings of increasingly scarce and expensive memory supply. The BOK raised its benchmark rate by 25 basis points for a second straight month, bringing it to 3 percent for the first time since November 2024 despite a stronger won and the Federal Reserve's pause in tightening. The decision caught much of the domestic bond market off guard. A Korea Financial Investment Association survey released ahead of the meeting showed 79 percent of bond-market professionals expected a hold, while 20 percent forecast an increase. The central bank also sharply raised its growth forecast for this year to 3.3 percent from 2.6 percent and its 2027 estimate to 2.9 percent from 2.1 percent, reflecting confidence that the semiconductor boom will continue supporting exports and investment. Retail investors turned heavy sellers as higher rates threatened to raise financing costs for leveraged stock bets. Foreign investors remained net buyers of 63.2 billion won ($45.9 million), while institutions purchased a net 276.5 billion won. Retail investors sold a net 582.6 billion won. Market breadth also weakened, with 330 stocks advancing against 518 decliners and 57 unchanged. Chip shares nevertheless held onto sizable gains after Nvidia delivered another record quarter and signaled that the global AI infrastructure boom still has considerable room to run. The U.S. chipmaker reported second-quarter revenue of $96.22 billion for fiscal 2027 and adjusted earnings per share of $2.22, beating Wall Street expectations. Nvidia projected third-quarter revenue of about $108 billion, above analysts' estimate of around $104.2 billion, and gave a preliminary forecast for revenue to grow roughly 70 percent in fiscal 2028. Samsung Electronics opened at 270,000 won and rose as high as 271,000 won before easing to 268,500 won as of 9:27 a.m., still up 2.68 percent. SK hynix opened at 1,776,000 won and climbed as high as 1,788,000 won before trimming its gain to 4.32 percent at 1,761,000 won. The gains reflected expectations that continued AI investment will sustain demand for advanced memory chips, including high-bandwidth memory (HBM), a key business for SK hynix and an increasingly important market for Samsung Electronics. Nvidia on Wednesday admitted that even the AI chip giant cannot escape the cost squeeze from the boom it helped ignite, as soaring memory prices lift its production costs while benefiting Samsung Electronics and SK hynix from the supply crunch. Nvidia's second-quarter revenue more than doubled from a year earlier, while data center revenue jumped 117 percent to $89 billion. Yet the rapid expansion of AI infrastructure is increasingly straining the memory supply chain. "We are experiencing extreme pricing conditions in memory," Nvidia Chief Financial Officer Colette Kress said during an earnings call Wednesday. "The magnitude of the price increase has exceeded our prior expectations and are headed even higher into next year." Other technology and electronics shares also advanced. SK Square climbed 4.54 percent to 1,106,000 won and Samsung Electro-Mechanics gained 4.89 percent to 1,395,000 won. LG Energy Solution rose 0.71 percent to 353,500 won. Hyundai Motor edged down 0.12 percent to 407,500 won despite announcing a stronger shareholder-return plan a day earlier. The automaker said it will cancel 2.51 million treasury shares worth about 789.1 billion won on Aug. 31, excluding shares set aside for employee compensation. The cancellation will permanently reduce shares outstanding. Hyundai Motor also reaffirmed plans to maintain a total payout ratio of at least 35 percent and an annual dividend of at least 10,000 won per share. Among industrial and defense shares, Hanwha Aerospace rose 1.84 percent to 1,107,000 won and Kia gained 0.53 percent to 132,100 won. Doosan Enerbility fell 2.56 percent to 83,600 won. Financial shares were mostly higher. KB Financial rose 0.42 percent to 167,300 won and Shinhan Financial gained 1.12 percent to 108,600 won, while Samsung Life was unchanged at 309,500 won. Samsung C&T gained 0.90 percent to 391,000 won, while Samsung Biologics slipped 0.19 percent to 1,596,000 won. The junior KOSDAQ opened 0.58 percent higher at 831.64, with gains across biotech, battery-material and semiconductor-equipment shares. Alteogen rose 0.32 percent to 312,500 won. EcoPro gained 2.76 percent to 89,400 won and cathode-material maker EcoPro BM advanced 2.33 percent to 114,100 won. Robot maker Rainbow Robotics climbed 1.44 percent to 457,000 won. Semiconductor-equipment shares were also higher. Jusung Engineering rose 0.98 percent to 175,100 won, Wonik IPS gained 0.91 percent to 110,300 won and LEENO Industrial added 0.60 percent to 66,800 won. EO Technics climbed 1.62 percent to 407,000 won. Investor attention now turns to Federal Reserve Chairman Kevin Warsh's first keynote address at the Jackson Hole Economic Policy Symposium on Friday for clues on whether the U.S. central bank could resume tightening after keeping its policy rate at 3.50 percent to 3.75 percent since December. Meanwhile, Japan's Nikkei 225 fell 0.65 percent to 65,833.96. The Korean won strengthened to 1,378.90 per dollar as of 10:23 a.m., up about 0.5 percent from the previous session's reference rate of 1,386.00. AJP Takeaways • The KOSPI pared an early gain of more than 2 percent to 0.84 percent after the BOK delivered a second straight rate hike to 3 percent. • Samsung Electronics and SK hynix remained sharply higher after Nvidia signaled continued AI demand and extreme memory pricing conditions. • The BOK raised its 2026 growth forecast to 3.3 percent and its 2027 outlook to 2.9 percent, strengthening expectations that Korea's chip-driven expansion has further to run. • Attention shifts to Fed Chairman Kevin Warsh at Jackson Hole on Friday for clues on the next move in U.S. monetary policy. 2026-08-27 10:34:20
  • ASML Korea to Hire Hundreds in Second Half of 2026 Amid Semiconductor Demand
    ASML Korea to Hire Hundreds in Second Half of 2026 Amid Semiconductor Demand ASML Korea plans to hire hundreds of new and experienced employees in the second half of 2026 to meet the growing demand for equipment support due to the expansion of semiconductor production in South Korea. The company is broadening its recruitment efforts to include not only those with semiconductor industry experience but also technical talent from advanced and precision manufacturing sectors.ASML Korea announced on August 27 that it will conduct public recruitment for new employees from September 1 to 8. The hiring will target personnel to work at major facilities in Hwaseong, Pyeongtaek, Cheongju, and Icheon.New hires will be required to hold a bachelor's degree in a science or engineering field, with key positions including Customer Support Engineers (CSE) and Field Service Engineers (FSE), who will provide on-site equipment support. The company will also recruit Technical Support Engineers (TSE) and Field Application Engineers (FAE) for candidates with master's degrees or higher.For experienced positions, ASML Korea aims to hire hundreds of employees primarily for UIR roles, which involve installation, relocation, and upgrades of equipment. The company is also considering candidates with field experience in advanced manufacturing and precision engineering.The expansion of ASML Korea's recruitment for experienced talent is driven by the need for strong on-site response capabilities in equipment installation, maintenance, and technical support. The strategy aims to enhance customer support capabilities by securing talent with problem-solving skills and experience handling complex equipment, even if they lack direct semiconductor experience.South Korea is considered a key market for ASML. As of the second quarter of this year, South Korea accounted for 43% of ASML's total equipment sales. With domestic semiconductor companies continuing to expand their production bases, there is an increasing need for equipment installation, maintenance, and upgrades.ASML Korea is also strengthening its educational foundation for talent development. In February, the company opened a global training center in Hwaseong equipped with DUV and EUV equipment, modules, and clean rooms. This facility allows customer support engineers to receive specialized training using actual equipment.For four consecutive years, ASML Korea has been recognized as a top employer by the Ministry of Employment and Labor in South Korea, receiving accolades for its family-friendly policies and organizational culture.* This article has been translated by AI. 2026-08-27 10:32:00