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  • Hyundai Motor reaches tentative wage deal after 60 hours of strikes
    Hyundai Motor reaches tentative wage deal after 60 hours of strikes SEOUL, August 25 (AJP) - Hyundai Motor and its labor union reached a tentative wage agreement, granting workers bonuses of more than 400 percent of monthly pay plus 12.7 million won ($9,189), ending a two-year run of strikes at South Korea's largest carmaker. The deal, reached after a two-day on Tuesday, 17th round of bargaining at the company's Ulsan plant, also lifts base monthly wages by 100,000 won and awards each worker 15 company shares, 500,000 won in welfare points and higher summer holiday allowances. It goes to a union vote on Aug. 31. Hyundai will hire 500 production workers, adding 200 in the second half of next year and 300 in 2028. The company agreed to withdraw all 10 damage claims and asset seizures it had filed against union members over past labor actions. Both sides deferred a contested demand to raise regular bonuses to next year's collective bargaining. They also agreed that any extension of the retirement age would take effect only if the law changes, without widening the wage-peak system that trims pay for older employees. The accord followed a bruising campaign of walkouts. The union struck repeatedly from July 13, beginning with daily two-hour stoppages, and staged an eight-hour full walkout on Aug. 21, its first company-wide strike in a decade. Cumulative strike time reached 60 hours. Because morning and afternoon shifts each walked out, production lines sat idle for 120 hours, disrupting output of 55,200 vehicles and causing accumulated revenue losses the industry estimates at more than 2.3 trillion won, based on average selling prices per car. "We have agreed to devote our full efforts to production and new vehicle launches in the second half, to swiftly contain the fallout from the strikes and resolve internal and external uncertainties to create an opportunity for a greater leap forward," the company and union said in a joint statement, 111 days after talks began on May 6. AJP Takeaways • Hyundai Motor and its union reached a tentative wage deal on Aug. 25 that includes performance bonuses of more than 400 percent of monthly pay plus 12.7 million won in cash, a 100,000-won base wage increase and 500 new production hires; union members vote on the agreement on Aug. 31. • The 2026 negotiations triggered 60 hours of cumulative strikes, including Hyundai Motor's first company-wide walkout in a decade on Aug. 21, idling production lines for 120 hours and disrupting output of 55,200 vehicles with estimated revenue losses above 2.3 trillion won. • Hyundai Motor agreed to drop all 10 damage claims against union members and deferred a disputed regular-bonus increase to 2027 bargaining, while both sides pledged joint responses to the shift toward physical AI and robotics in manufacturing. 2026-08-25 09:01:21
  • Badminton World Rankings Shift: An Se-young Retains Top Spot, Baek Hana and Lee So-hee Rise
    Badminton World Rankings Shift: An Se-young Retains Top Spot, Baek Hana and Lee So-hee Rise Following the conclusion of the World Badminton Championships, the world rankings have seen notable changes.According to the Badminton World Federation (BWF) rankings released on August 25, An Se-young remains at the top of the women's singles category. Prior to the championships, on August 18, she held 117,787 points, leading Akane Yamaguchi of Japan, who had 104,576 points, and Wang Zhi of China, who had 102,689 points.On August 23, An Se-young defeated Yamaguchi 2-0 (21-17, 21-14) in the final of the 2026 BWF World Championships held in New Delhi, reclaiming the gold medal she last won three years ago. Remarkably, she won all six matches in the tournament, including the final, with a score of 2-0, marking a successful return from injury.In women's doubles, there was a shift in rankings. Baek Hana and Lee So-hee, who were ranked third before the championships, moved up to second place. The top spot is held by Liu Shengsu and Tan Ning of China. Before the championships, Liu and Tan were first, followed by Yuki Fukushima and Sayaka Matsumoto of Japan in second, and Baek and Lee in third.The decisive moment for Baek and Lee came during the championships, where they defeated the then-world number one duo Liu and Tan 2-0 (21-15, 21-15) in the final. This victory marks the first time in 31 years that a South Korean women's doubles team has topped the world championships since Gil Young-a and Jang Hye-ok in 1995. The pair also ended a four-match losing streak against Liu and Tan.In men's doubles, Kim Won-ho and Seo Seung-jae were unable to secure the championship title. The top-ranked duo lost in the semifinals to Aaron Chia and Soh Wooi Yik of Malaysia, finishing the tournament with a bronze medal. Prior to the championships, Kim and Seo held a significant lead in points, with 119,899, well ahead of the second-ranked team.Another notable change occurred in men's singles, where Jonatan Christie ascended to the new world number one, with Christo Popov of France moving up to second. Zhou Tiancheng of Taiwan, who won a bronze medal at the championships, climbed from sixth to fourth place.Meanwhile, the men's singles champion Alex Lanier of France rose to seventh in the world rankings after defeating Kenta Nishimoto of Japan 2-0 (21-11, 21-11) in the final, securing France's first gold medal in men's singles at the world championships. His performance propelled him three spots up the rankings.According to BWF regulations, world rankings are determined based on results from recognized tournaments over the past 52 weeks. Players earn more ranking points by competing in higher-tier events and advancing to later rounds. Thus, winning the world championships can lead to a significant increase in points, but the overall ranking is influenced by accumulated results from previous tournaments.* This article has been translated by AI. 2026-08-25 09:00:20
  • Dunamu Reviews U.S. Accounting Standards Amid IPO Plans
    Dunamu Reviews U.S. Accounting Standards Amid IPO Plans 가상자산거래소 업비트 운영사 두나무가 한국과 미국의 회계기준 차이를 검토한 것으로 확인됐다. 증시 상장에 속도를 내기 위한 사전 작업에 나선 것으로 풀이된다. 24일 금융권에 따르면 두나무는 최근 국내 대형 회계법인을 통해 미국 회계기준(US GAAP)으로 작성하는 재무제표가 한국과 어떤 차이가 있는지 살펴봤다. 일각에서는 회계 미국식 회계기준으로 재무제표를 바꾸는 작업을 마쳤다는 관측이 나왔지만 두나무 관계자는 "회계기준은 바뀌지 않았고 미국 회계기준이 국내 기준과 무엇이 다른지 알아본 것"이라고 설명했다. 네이버파이낸셜과 포괄적 주식교환이 마무리되면 상장을 추진한다는 점은 변함이 없지만 어느 나라에서 상장을 추진할지는 아직 결정된 바 없다고도 선을 그었다. 두나무는 네이버파이낸셜과 주식교환을 마치는 대로 네이버파이낸셜의 증시 상장을 추진할 계획이다. 네이버파이낸셜의 모회사인 네이버가 국내 상장사인 만큼 중복 상장에 대한 우려를 씻고 제대로 된 기업가치를 인정받기 위해서다. 양사는 두나무와 네이버파이낸셜의 기업가치를 각각 약 15조원, 5조원으로 산정하고 두나무 주식 1주당 네이버파이낸셜 주식 2.54주를 배정하는 교환 비율을 정했다. 주주총회는 11월 19일, 주식교환일은 12월 31일이다. 당초 5월 22일 주총을 열고 6월 30일 주식을 교환하려 했으나 두 차례 연기됐다. 두나무는 주식교환 완료 후 1년 이내 기업공개(IPO) 위원회를 구성한다는 방침이다. 합병 작업과 동시에 두나무는 상장 물밑 작업을 지속하고 있다. 오경석 두나무 대표는 지난 달 미국 워싱턴 D.C.에서 백악관과 행정부, 연방의회, 주요 경제단체 및 정책기관 관계자들과 면담을 가졌다. 주한미국상공회의소(암참) 대표단 차원에서 이뤄진 방문이었지만 현지 시장과 정책 환경 등을 파악했을 것으로 보인다. * This article has been translated by AI. 2026-08-25 09:00:00
  • Hana Financials FinK Lowers Loan Barriers for Low and Mid-Credit Borrowers
    Hana Financial's FinK Lowers Loan Barriers for Low and Mid-Credit Borrowers Hana Financial Group's lifestyle finance platform, FinK, is enhancing access to policy financing for low and mid-credit borrowers as part of its efforts to promote inclusive finance.On August 25, FinK announced the launch of its 'Government-Supported Loan Assessment' service aimed at low and mid-credit individuals. This service allows users to check their eligibility for government-backed loan products in advance. By entering their occupation and income information into the FinK app, users can automatically verify the qualification requirements for various products and receive guidance on available options, estimated interest rates, and limits.The assessment results have shown a high correlation with actual loan approvals. According to FinK, 98% of customers who received an 'approval possible' rating through the service ultimately secured loan approvals.Analyzing user characteristics, the average annual income for users of the Sunshine Loan special guarantee program was reported at 27 million won, with an average credit score of 572. Users of the standard Sunshine Loan had an average annual income of 30 million won and an average credit score of 593. For the New Hope Seed Loan, the average annual income and credit score were 23.8 million won and 618, respectively. Users of the Saitdol Loan had an average annual income of 60 million won and an average credit score of 608.The number of low and mid-credit borrowers utilizing policy financing has also significantly increased. An analysis of loan data intermediated by FinK revealed that the number of policy-supported loan agreements for customers with credit scores below 700 surged by 259% compared to the first half of last year.Jang Il-ho, CEO of FinK, stated, "We will continuously enhance our services to reduce the inconveniences faced by customers in need of government-supported loans."* This article has been translated by AI. 2026-08-25 09:00:00
  • Jiran Jigyosecurity Integrates Post-Quantum Cryptography into Key Security Products
    Jiran Jigyosecurity Integrates Post-Quantum Cryptography into Key Security Products Jiran Jigyosecurity announced on August 25 that it has integrated post-quantum cryptography (PQC) based on standards from the U.S. National Institute of Standards and Technology (NIST) into its core security solutions, including email, document, mobile, and content disarm and reconstruction (CDR) products.The company implemented PQC by focusing on areas requiring secure communication and key exchange, considering the communication structure and security characteristics of each product. Along with the application of PQC to individual products, it has established a system that allows for a gradual transition to next-generation cryptographic systems based on a hybrid structure and crypto agility.Recent advancements in quantum computing technology have raised concerns about the security of existing public key cryptography, highlighting the need for a transition to PQC. In particular, the 'HNDL' attack, which involves preemptively acquiring encrypted data for future decryption using quantum computers, is identified as a significant threat. This has led to calls for proactive transitions in cryptographic systems, especially for data requiring long-term protection.NIST is set to finalize ML-KEM, ML-DSA, and SLH-DSA as PQC standards in 2024. In South Korea, the K-PQC national competition is underway, with algorithms for domestic standardization expected to be selected by 2025.The application method has been tailored to the operational environments of each solution. The email security product 'Spam Sniper' has integrated NIST standard-based PQC into its secure communication environment, while the document security product 'DocuOne' has adopted a hybrid approach based on ML-KEM for key exchange during TLS communication. The mobile security product 'Mobile Keeper' has transitioned its key exchange system for authentication and end-to-end data encryption between mobile devices and MDM servers to the NIST PQC standard.The CDR-based malware response product 'Sanitox' has strengthened its security framework, focusing on transmission, API linkage, and integrity verification before and after file disarmament. Notably, it has enhanced the security communication and signing/verification systems applied during the storage, transmission, and download processes after safe file generation, increasing the confidentiality, integrity, and authentication levels throughout the entire process of delivering disarmed files to customers and associated systems.To ensure service continuity during the PQC transition, Jiran Jigyosecurity has adopted a hybrid structure that allows for the coexistence of existing cryptographic methods and PQC. This enables a gradual transition of cryptographic systems while maintaining interoperability in environments where associated systems do not yet support PQC.Additionally, a common cryptographic interface that is not dependent on specific algorithms or libraries has been implemented to secure crypto agility. By managing algorithm identifiers, parameters, and certificate/key policies based on established settings, the system is designed to allow for the addition or replacement of relevant cryptographic technologies as needed for future changes in cryptographic standards or the application of new algorithms.Considering global interoperability and applicability, the company prioritizes support for NIST standards while ensuring scalability to accommodate future domestic cryptographic standards and certification requirements within the same structure.Lee Sang-jun, Chief Technology Officer of Jiran Jigyosecurity, emphasized the need to prepare for the introduction of PQC by considering the data retention period and the time required for transitioning cryptographic systems, rather than waiting for the commercialization of quantum computers. He explained that since currently collected encrypted data could potentially be decrypted by future quantum computers, proactive measures should be taken, starting with data that will be stored for extended periods.Lee stated, "The timing for transitioning to PQC should be based on the lifespan of the data that needs protection and the time required for system transition, rather than the commercialization of quantum computers."Cho Won-hee, CEO of Jiran Jigyosecurity, remarked, "The application of PQC is a proactive step in preparing the cryptographic systems of our core security products for future changes in the cryptographic environment. We will continue to support our customers in responding stably to the evolving cryptographic landscape based on our key product lines for email, documents, and mobile security."Meanwhile, the movement to adopt PQC is expanding into major industries in South Korea. The Ministry of Science and ICT and the Korea Internet & Security Agency (KISA) have broadened their PQC pilot transition project, which was previously focused on the medical, energy, and administrative sectors, to include telecommunications, finance, transportation, defense, and space sectors this year. The feasibility of applying PQC is being verified across major infrastructures, including the National Science and Technology Research Network (KREONET), financial payments, and transportation, defense, and satellite communications.* This article has been translated by AI. 2026-08-25 08:56:00
  • KOSPI Attempts Recovery After 3% Drop, Focus on Semiconductor Bargain Buying
    KOSPI Attempts Recovery After 3% Drop, Focus on Semiconductor Bargain Buying The KOSPI index, which fell below the 670-point mark due to a sharp decline in Samsung Electronics, is expected to attempt a recovery on the 25th. Following a broad weakness in semiconductor stocks in the U.S. market overnight, attention is turning to whether bargain buying will emerge for semiconductor stocks like Samsung Electronics and SK Hynix, which experienced significant drops the previous day.As of 8:35 a.m. on the 25th, Samsung Electronics was trading at 252,000 won, down 1.95% from the previous trading day. At the same time, SK Hynix was down 2.57% at 1,628,000 won.In the U.S. market, the weakness in semiconductor stocks weighed on the overall market. On the 24th (local time), the Dow Jones Industrial Average closed at 53,417.16, up 0.26% from the previous day. In contrast, the S&P 500 index fell 0.28% to 7,652.86, and the Nasdaq composite dropped 0.76% to 25,980.19. The Philadelphia Semiconductor Index also fell by 2.70%.The decline in technology stocks added pressure to the indices. Nvidia, which is set to report earnings this week, fell 2.91%, marking its seventh consecutive day of decline. Micron dropped 5.83%, AMD fell 3.49%, and Broadcom decreased by 2.63%.On this day, the KOSPI is expected to show a mixed trend, balancing the pressure from the weakness in U.S. semiconductor stocks and the perception of excessive declines the previous day. Han Ji-young, a researcher at Kiwoom Securities, noted, "Despite the sharp drop in the KOSPI the previous day, there were 579 rising stocks, more than double the 286 declining stocks," adding, "Today, the domestic market is likely to attempt a recovery, supported by the perception that the adjustment in U.S. semiconductor stocks has been priced in, along with falling interest rates and oil prices, and the influx of bargain buying in semiconductor stocks."He further analyzed that, unlike before, the upward trend is spreading across various sectors, and the concentration in a few sectors is easing, indicating an improvement in the market's resilience and internal strength, which may lead to continued rebounds in the future.* This article has been translated by AI. 2026-08-25 08:52:10
  • Hankook Securities Raises Target Price for Samsung C&T Amid Rising Affiliate Values
    Hankook Securities Raises Target Price for Samsung C&T Amid Rising Affiliate Values Hankook Securities reported that Samsung C&T's net asset value (NAV) has increased due to rising share values of major affiliates such as Samsung Electronics and Samsung Life Insurance since the end of July. As a result, the firm raised its target price for Samsung C&T from 450,000 won to 540,000 won while maintaining a 'buy' rating.Park Jong-ryul, a researcher at Hankook Securities, noted, "Since the end of July, the share values of affiliates including Samsung Electronics, Samsung Life Insurance, Samsung SDS, and Samsung E&A have risen. Recently, Samsung C&T's stock price has also rebounded, suggesting that improved performance and increased shareholder returns will lead to a reevaluation of the stock price."Hankook Securities forecasts that Samsung C&T's consolidated revenue for the third quarter will reach 11.4 trillion won, a 12.4% increase from the same period last year, while operating profit is expected to rise by 12.6% to 1.1 trillion won. For the full year, the firm anticipates consolidated revenue of 45.9 trillion won, up 12.7% year-on-year, and operating profit of 3.9 trillion won, an 18.6% increase.Park added, "The bio sector is expected to continue strong performance due to full operation of the first to fourth factories and the impact of rising exchange rates. As the fifth factory and the Rockville plant in the U.S. gradually come online, we expect sustained growth alongside high profitability."He further stated, "This year, the bio sector will lead performance growth, while improvements across all business divisions, including construction, trading, fashion, leisure, and food, will enhance profit generation capabilities."In the construction sector, profitability is expected to improve as high-tech P4 finishing work and P5 structural work ramp up, along with smooth progress on overseas plant projects. However, the trading sector is projected to see a slowdown in performance compared to the previous quarter due to reduced volumes from the European Union's import steel quota regulations.The fashion sector is anticipated to improve profitability due to increased normal price sales driven by market recovery, while the leisure sector is expected to see growth in performance thanks to a rise in visitors to Caribbean Bay. The food and beverage sector is also expected to improve performance due to increased food sales from new business expansions and growth in food distribution.* This article has been translated by AI. 2026-08-25 08:52:00
  • Hyundai to Launch 2027 Palisade High Roof Model
    Hyundai to Launch 2027 Palisade High Roof Model Hyundai Motor Company is set to introduce a 'high roof' model of the Palisade, raising the vehicle's roof height by 240 mm. This new model aims to target premium and outdoor market demands, accelerating the company's strategy in the large sports utility vehicle (SUV) segment.On August 25, Hyundai announced the launch of the 2027 Palisade, which includes the high roof model along with new trims emphasizing premium design, such as 'Black Ink,' and an outdoor-oriented 'XRT' trim. Key safety and convenience features have been standardized across all trims to enhance the vehicle's appeal.The high roof model expands the interior space by increasing the roof height to 240 mm, resulting in a total height of 2005 mm, while still allowing for entry into underground parking facilities.The new Black Ink trim is based on the Calligraphy model and incorporates black design elements throughout the vehicle. It comes equipped with 21-inch black alloy wheels, Pirelli tires, and a preview electronic control suspension as standard features.Additionally, the XRT trim has been introduced to cater to outdoor enthusiasts. It features exclusive 20-inch alloy wheels, ventilated second-row seats, and BOSE premium speakers as standard, along with unique design elements for the radiator grille, garnish, cladding, roof rack, and emblem.The 2027 Palisade expands safety technology starting from the base Exclusive trim, which includes a 12.3-inch cluster, a panoramic curved display, forward collision-avoidance assist, navigation-based smart cruise control, highway driving assist 2, and blind-spot collision-avoidance assist as standard features.A Hyundai representative stated, 'The 2027 Palisade will maintain its unique position in the domestic large SUV market through standardization of features and enhanced product appeal.'In July, 2,545 units of the Palisade were sold in the domestic market. The vehicle has also been recognized globally for its competitiveness, being selected as a finalist in the utility category for the 2026 North American Car of the Year (NACTOY) awards.* This article has been translated by AI. 2026-08-25 08:52:00
  • Studio Metakey Selects Eugene Investment & Securities as IPO Lead Manager
    Studio Metakey Selects Eugene Investment & Securities as IPO Lead Manager AI-based content IP solution company Studio Metakey has selected Eugene Investment & Securities as its lead manager for its initial public offering (IPO) and has begun preparations for the listing.Founded in 2022, Studio Metakey is an entertainment technology company that produces a variety of content, including dramas, films, animations, and media art, based on generative AI and virtual human technology. The company has applied AI technology to broadcast and video content, including Netflix's 'Monthly Boyfriend,' MBC's 'New Director Kim Yeon-kyung,' KBS's 'History Special,' and MBN's 'Divorced Singles 7.'Recently, it has accelerated the enhancement of its AI content production technology and the expansion of its IP business. In July, it was selected as the lead organization for two projects under the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency's '2026 Cultural and Sports Research and Development Project,' with a total project cost of 15.3 billion won over three years. The company plans to develop an integrated engine for AI-based broadcast video production and long-form video generation and editing solutions.Studio Metakey is also pursuing a theatrical animation business utilizing proven original IPs, such as webtoons. The strategy involves applying its proprietary AI technology in the production process to enhance efficiency and strengthen the expansion of IP into video content.Kim Kwang-jip, CEO of Studio Metakey, stated, “The IPO is a crucial turning point for us to become a leading company in the new industry that combines AI and content. We will work with Eugene Investment & Securities to ensure our technological capabilities and growth potential are properly recognized in the market.” 2026-08-25 08:52:00
  • Dentist Arrested for Defrauding Patients of $50 Million with Fake Insurance Scheme
    Dentist Arrested for Defrauding Patients of $50 Million with Fake Insurance Scheme A dentist has been arrested for defrauding patients out of nearly 6 billion won (approximately $50 million). The Gwangju Western Police Station has referred a dentist, identified as A, in his 50s, to prosecutors on charges of deceiving patients by claiming to offer an insurance product that guaranteed both principal and returns. According to police, A misled 26 patients from May 2024 into believing that he had a dental insurance product that guaranteed both returns and principal. Investigations revealed that one victim lost 3 billion won (about $2.5 million). Police began their investigation after receiving complaints from victims in October of last year and referred A to prosecutors on December 12 while he was not in custody. Additionally, eight more victims have come forward with complaints against A, and the investigation is ongoing.* This article has been translated by AI. 2026-08-25 08:48:00