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Meta Reaches $17.1 Billion Settlement Over Social Media Addiction Lawsuit Meta, the operator of Facebook and Instagram, has reached a settlement of up to $17.1 billion in a lawsuit with U.S. state governments over allegations that it designed social media to be addictive for children and teenagers.On August 26, local time, the offices of attorneys general from states including New York and California announced that Meta has agreed to pay a substantial settlement and enhance protections for minors on Facebook and Instagram. The agreement is subject to court approval before it becomes final.The minimum amount Meta will pay is $12.2 billion, which could increase to $17.1 billion depending on whether other major social media companies participate in similar agreements in the future.The lawsuit was initiated by state governments claiming that Meta designed features on Facebook and Instagram that encourage excessive use among teenagers and failed to adequately disclose the associated risks. The lawsuit also included allegations of collecting personal information from children under 13 without parental consent. Meta has denied these allegations.The case was recently underway in a federal court in Oakland, California, with California, Colorado, Kentucky, and New Jersey participating in the proceedings. This settlement is expected to conclude the related claims from the participating state governments.As part of the settlement, Meta will limit the daily usage time for users under 18 on Facebook and Instagram to two hours and will restrict access from midnight to 6 a.m. Additionally, push notifications will be limited from 10 p.m. to 7 a.m., and notifications during school hours will be blocked. Some features, such as messaging, will be exempt from these restrictions.Measures to verify the age of minors will also be strengthened. Meta will identify and remove accounts belonging to users under 13, enhance privacy settings for youth accounts, and increase the blocking of harmful content. An independent auditor will be appointed to monitor compliance with the settlement.* This article has been translated by AI. 2026-08-27 08:52:10 -
Government Initiates Discussions on Joining CPTPP Amid Agricultural Concerns The South Korean government has begun gathering public opinion and initiating discussions regarding its potential membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The government plans to analyze the economic impacts and industry-specific effects while considering the concerns of the sensitive agricultural and fisheries sectors before making a decision on membership.On August 27, the Ministry of Economy and Finance held the 273rd Foreign Economic Ministers' Meeting at the Government Seoul Complex, chaired by Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, to discuss the future direction regarding CPTPP membership.The government believes that joining the CPTPP could strengthen ties with like-minded middle powers, stabilize key supply chains, and expand export markets.However, the government intends to carefully assess whether CPTPP membership would provide tangible benefits to national interests and livelihoods before proceeding.Given the high level of market openness associated with the CPTPP, the government plans to conduct an objective analysis of the economic effects and industry-specific impacts of membership and communicate the findings to the public.In particular, the government will closely examine the potential damages and impacts that the agricultural and fisheries sectors are concerned about and will ensure that sufficient on-the-ground opinions are collected. If membership is pursued in the future, the government aims to proactively establish effective domestic supplementary measures.The meeting also discussed ways to expand economic cooperation with Central Asia. The government plans to promote cooperation projects in three key areas—core minerals and energy supply chains, artificial intelligence (AI) and biotechnology, and transportation, logistics, and talent development—during the first Korea-Central Asia Summit to be held in September.The goal is to combine the resources and growth potential of Central Asia with South Korea's technology, finance, and policy experience to establish stable supply chains and enhance export and contract opportunities for domestic companies.To strengthen cooperation with Africa, the Ministry of Economy and Finance will host the 8th Korea-Africa Economic Cooperation Conference (KOAFEC) from October 8 to 11, in collaboration with the African Development Bank and the Korea Export-Import Bank.Marking the 20th anniversary of KOAFEC, the conference will present a new vision and implementation plan for Korea-Africa economic cooperation centered on AI and digital transformation. The aim is to expand the growth foundation of African countries through development cooperation while also broadening opportunities for domestic companies to enter local markets.Support for overseas contracts will expand from traditional infrastructure focused on civil engineering and construction to high-value sectors such as eco-friendly and smart infrastructure and nuclear power. The government plans to consolidate policy finance and diplomatic capabilities to support the entire process from project discovery to financial assistance and post-contract support.Meanwhile, regarding the Middle East, the government plans to focus support on key projects expected to be contracted within the year, considering the challenging conditions for overseas contracts due to delays in orders this year compared to last year.* This article has been translated by AI. 2026-08-27 08:52:00
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Shinhan Securities Raises Hanmi Pharmaceutical's Target Price by 27.5% Following Obesity Drug Deal Shinhan Investment Corp. announced on August 27 that it has raised its target price for Hanmi Pharmaceutical from 510,000 won to 650,000 won, an increase of 27.5%, following the large-scale technology export of an obesity drug candidate. The investment recommendation remains a 'buy.'Lee Ho-cheol, a researcher at Shinhan Investment, stated, "The technology export of HM17321 has confirmed big pharmaceutical companies' interest in next-generation obesity treatments. A reevaluation of Hanmi Pharmaceutical's entire obesity treatment pipeline is expected."On August 24, Hanmi Pharmaceutical exported the technology for its muscle-preserving obesity drug candidate HM17321 to Genentech, a subsidiary of Roche. The total contract value is $2.305 billion (approximately 3.2 trillion won), with an upfront payment of $190 million (about 270 billion won). The upfront payment represents 8.2% of the total contract value, exceeding the average of 4% for technology exports from domestic pharmaceutical companies to big pharma.This contract has also heightened expectations for additional technology exports of Hanmi Pharmaceutical's other obesity drug candidates. HM15275, currently undergoing global Phase 2 clinical trials, and the myostatin inhibitor HM-500197 are being discussed as potential candidates for further technology exports.The researcher noted, "The H.O.P obesity project has begun to be validated through big pharma, and the potential for additional technology exports of HM15275 and HM-500197 has increased."Shinhan Investment has newly reflected the new drug value of HM17321 at 1.7 trillion won, raising the total new drug value for Hanmi Pharmaceutical to 4.9 trillion won. The upfront payment from this technology export contract is expected to be reflected in the company's performance in the fourth quarter, and additional milestone payments are anticipated when Roche enters global Phase 2 clinical trials in 2027.* This article has been translated by AI. 2026-08-27 08:52:00
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Philippine envoy celebrates scholarship awards Philippine Ambassador to South Korea Bernadette Therese C. Fernandez delivers congratulatory remarks during a scholarship award ceremony hosted by the Woojung Education and Culture Foundation at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Aug. 26, 2026. The foundation awarded approximately 400 million won in scholarships to 98 international students from 32 countries studying at universities in South Korea. AJP Yoo Na-hyun 2026-08-27 08:51:28 -
98 international scholars honored in South Korea Aiganym Zhalinova, a student from Kazakhstan representing the scholarship recipients, delivers remarks during a scholarship award ceremony hosted by the Woojung Education and Culture Foundation at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Aug. 26, 2026. The foundation awarded approximately 400 million won in scholarships to 98 international students from 32 countries studying at universities in South Korea. AJP Yoo Na-hyun 2026-08-27 08:49:31 -
Park Hyun-joo: Companies Should Focus on Capital Accumulation Over Dividends Park Hyun-joo, chairman and global strategist of Mirae Asset Group, emphasized the need for companies to prioritize capital accumulation for growth rather than increasing shareholder returns through dividends. He noted that companies like Samsung Electronics and SK Hynix have thrived by reinvesting profits instead of distributing them to shareholders.On August 26, during an event for employees at the Four Seasons Hotel in Seoul, Park stated, "Is it true that Samsung's stock price is falling because it can't return value to shareholders? That's nonsense."He further argued, "Shareholder returns are typically only 5-7%. In that case, it would be better to invest in U.S. Treasury bonds. If dividends had been prioritized, would Samsung Electronics and SK Hynix even exist?"Park stressed that not paying dividends is essential for a company's improvement, advocating for bold capital accumulation to foster growth. He highlighted that enhancing shareholder value should not solely focus on returning profits but also on investing for future growth.His comments come amid increasing calls in the domestic market for companies to expand shareholder returns. While the government is encouraging dividend increases and stock buybacks through value-up policies, Park maintains that accumulating investment resources is crucial for securing long-term competitiveness.Regarding the potential for U.S. tariffs on South Korea, Park expressed optimism, stating, "I believe the U.S. will not impose heavy tariffs on Korea. There is no need to feel overly anxious. Without semiconductors, companies like NVIDIA and other U.S. tech giants cannot operate."He added, "Would the U.S. impose a 50% tariff on Korea? Absolutely not," indicating that the significance of the South Korean semiconductor industry within the U.S. tech ecosystem makes it unlikely for the U.S. to impose high tariffs on Korean firms.Park also criticized investments in real estate and virtual assets. He remarked, "The era of making money through real estate should come to an end. It must end for everyone's sake, so that younger generations can enjoy a better quality of life." He described the government's recent real estate tax policies as "not a joke" and expressed hope that the current housing issues could be resolved.On virtual asset investments, he stated, "Very few people have made money investing in Bitcoin. Most end up in financial ruin. I don't understand why people take out loans to invest in it." He cautioned against treating stocks in the same reckless manner, asserting that all assets should not be traded in such a way.The event was organized to celebrate the new beginning of Digital X, which Mirae Asset Group recently acquired, and to share the group's long-term vision of 'Mirae Asset 3.0.' Park, along with Oh Se-jin, CEO of Digital X, and all employees, attended the gathering.During the event, Park outlined plans to position Digital X as a core component of 'Mirae Asset 3.0,' aiming to expand its product offerings across four pillars: crypto, stablecoins, real-world assets (RWA), and security token offerings (STO), while promoting the digitization of various physical assets such as gold, silver, and electricity.He urged Digital X employees to possess a forward-looking perspective and to prepare for new changes, encouraging them to become creative talents who constantly seek new possibilities beyond established frameworks.* This article has been translated by AI. 2026-08-27 08:48:00
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Woojung foundation awards 400M Won in scholarships Lee Joong-keun, chairman of the Woojung Education and Culture Foundation, delivers congratulatory remarks during a scholarship award ceremony at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Aug. 26, 2026. The foundation awarded approximately 400 million won in scholarships to 98 international students from 32 countries studying at universities in South Korea. AJP Yoo Na-hyun 2026-08-27 08:47:01 -
98 international students receive Woojung scholarships The Woojung Education and Culture Foundation's scholarship award ceremony for international students for the second semester of 2026 is held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Aug. 26, 2026. The foundation awarded approximately 400 million won in scholarships to 98 international students from 32 countries studying at universities in South Korea. AJP Yoo Na-hyun 2026-08-27 08:45:04 -
Police Suggest Suicide in Death of Missing Woman, Expert Questions Findings Jang Mi-ran, 37, was found dead 104 days after her disappearance in Jeju, with police suggesting her death was a suicide by hanging, while downplaying the possibility of foul play. Professor Lee Soo-jung from Kyonggi University criticized this conclusion, stating on her social media, "A young woman goes out at night to hang herself from a palm tree? It’s laughable as a method of suicide," and called for a restoration of prosecutorial investigation rights.In another post, she expressed concern over the discovery of three other presumed missing bodies, questioning whether there were signs of homicide and urging against premature claims of no criminal victimization.Jang was last seen leaving her long-term accommodation in Hallim-eup, Jeju, around 10:15 p.m. on May 12. Her phone's last known location was near Hallim Port, about two and a half hours later, with no further usage records until it was turned off on May 16 at 9:44 a.m.Her boyfriend reported her missing on May 15, but a police officer at the Jeju West Police Station prematurely closed the case, resulting in a loss of critical time for the search.On August 24, Jang's body was discovered in a palm tree forest in Hallim-eup at 10:46 a.m. She was found wearing the same clothes as in her last CCTV footage, with her phone and electronic cigarette still in her pockets. Her gold bracelet, ring, and slippers were also intact.During a briefing on August 26, police stated that based on the position and condition of the body, as well as preliminary autopsy findings, they believe the likelihood of foul play is low. They also noted that a strap belonging to Jang was found on a protruding palm tree trunk at the scene.However, Jang's boyfriend expressed doubts in an interview with JTBC, stating, "There was nothing so difficult that she would take her own life up until the day she went missing."Professor Yoo Chang-won, head of the Yoo Chang-won Crime Science Research Institute, remarked that there were no signs of a struggle or evidence of a third party's involvement at the scene. He acknowledged that while the circumstances might suggest suicide, other factors cannot be ruled out, making it premature to draw definitive conclusions.He emphasized the need for a thorough autopsy to determine the cause of death, despite significant decomposition. He urged that the National Forensic Service's autopsy and the police's comprehensive scientific investigation should clarify the cause of death and the possibility of third-party involvement, ensuring transparency for the family and the public. He lamented the initial investigative shortcomings, stating that if the police had not falsely claimed to have made contact and had continued the search, early discovery might have been possible.Meanwhile, the police are investigating the officer who prematurely closed the missing persons case for dereliction of duty and falsifying official records.* This article has been translated by AI. 2026-08-27 08:44:00
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Korea Investment & Securities: Hyundai's Shift to Physical AI is Positive for Growth Korea Investment & Securities has assessed that Hyundai Motor Company's transition from an automobile manufacturer to a physical AI and technology firm is a valid growth path. The firm maintained its investment rating of 'Buy' and a target price of 640,000 won.In a report released on August 27, following Hyundai's CEO Investor Day, analyst Kim Chang-ho positively evaluated the company's transformation strategy. Hyundai plans to internalize software technology, production and sales capabilities, and computing infrastructure at the group level, based on a data flywheel.Regarding its robotics business, Hyundai reaffirmed that mass production of Boston Dynamics' robotics will begin in 2028. The company has secured an initial order of 25,000 units, focusing on factories within its affiliates, including HMGMA. The first mass-produced SDV, scheduled for release in 2028, will feature the end-to-end autonomous driving system 'Atria AI.' Starting in 2029, Hyundai will also pursue independent data center operations, beginning with the Saemangeum AI data center.However, Korea Investment & Securities considers Hyundai's target of selling 5.55 million vehicles by 2030 to be aggressive. The firm projects Hyundai's sales for 2026 to be 4.03 million units and estimates that, even in a positive scenario, realistic sales for 2030 would be around 4.5 million units, especially given the potential for three consecutive years of decline.Consequently, the firm views Hyundai's projected operating profit margin of '9%+' for 2030 as overly optimistic, suggesting a more realistic range of 7% to 8%. The company's plan to reduce its cost of sales ratio by 3 percentage points by 2030 through lifecycle cost innovation and material cost reductions is also seen as somewhat aggressive, considering the development costs and investment scale associated with expanding its vehicle lineup.Despite these concerns, Korea Investment & Securities believes that Hyundai's long-term growth trajectory through robotics mass production, SDV launches, and the accumulation of driving data and AI infrastructure remains valid. The firm has decided to keep its target price of 640,000 won unchanged, citing no specific changes to its earnings estimates following the company's guidance increase.* This article has been translated by AI. 2026-08-27 08:40:00