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Video Shows Family Confronting Police Officer Released After Body Discovery A police officer in Jeju, identified as Officer A, was released after a court ruling on his detention, following his emergency arrest for allegedly falsely concluding the missing person case of Jang Mi-ran. A video showing the family of Jang confronting Officer A has surfaced, intensifying public outrage.The video, shared widely on various online platforms and social media on August 24, depicts Officer A, restrained and wearing a blue shirt, being confronted aggressively by a family member of Jang. As reporters questioned Officer A about the discovery of Jang's body, asking if he had any words for the family or if he felt remorse, he remained silent.Reactions from netizens were swift and emotional, with many expressing anger over the officer's release amid the ongoing investigation. One user commented on the family's confrontation, stating, "If it were me, I would have hit him with my car," while another noted the irony of the body being found immediately after the investigation was resumed, criticizing the initial police response.Criticism of the police investigation and public safety system also emerged. One user questioned, "How can you tell the public to trust the police in situations like this?" Another remarked, "My home fan seems to work better than the police in this country," mocking the police's handling of the case.Frustration with the government and political leaders was evident as well. One user called for the abolition of supplementary investigation rights, stating, "Is this the state of our country? A change in government is urgent," while another expressed uncertainty about how much further the country could deteriorate.Expressions of sympathy and anger towards the family continued, with one user stating, "Parents who have lost a child are already living in hell; they should show these officers hell too." The anger from Jang's family grew after the court's decision to release Officer A, especially after police confirmed that items belonging to Jang, including clothing and a phone, were found at the scene where her body was discovered. However, the acting police chief stated in a parliamentary session that the identification process was still ongoing and that there were no signs of foul play at this time.Jang Mi-ran had been missing for over three months since her disappearance in May. Officer A is under investigation for allegedly closing Jang's missing person report falsely and deleting related data from the missing person management system. He is also suspected of similarly mishandling another missing person case involving a man in his sixties, whose body was discovered on August 22, leading to Officer A's emergency arrest that same day.On August 23, the day after his arrest, Officer A requested a review of his detention at the Jeju District Court. This review process allows individuals to contest the legality of their arrest. The court accepted his request on August 24, determining that the conditions for an emergency arrest had not been met, as the suspect's whereabouts were known, and there was sufficient time to obtain a warrant.This decision does not imply that Officer A is innocent; the court's focus was on the legality of the emergency arrest procedure. The investigation into the allegations of falsely concluding Jang's missing person case will continue.* This article has been translated by AI. 2026-08-25 08:28:00
Samsung Electronics Revamps Cheongdam Store as a Wedding Appliance Hub Samsung Electronics has unveiled a specialized store aimed at newlyweds, allowing them to consult on wedding appliances and interior design in one location. The company is shifting its focus from product sales to creating experiential and consulting spaces tailored to residential living and lifestyle.On August 24, Samsung announced the complete renovation of its Cheongdam store in Gangnam, Seoul, transforming it into a dedicated hub for wedding appliances. The store now offers a comprehensive range of services, from experiencing appliances and mobile products to personalized interior consulting and after-sales service.The third floor features an 'Interior Package Zone' designed to resemble a real newlywed home. Customers can compare appliance and furniture configurations based on their home size and lifestyle, with options including a 5.5-pyeong 'Start Package,' an 11.5-pyeong 'Standard Package,' and a 15-pyeong 'Premium Package.'In a dedicated consultation lounge, specialized wedding consultants will suggest appliance configurations tailored to individual lifestyles and living situations. For customers in rental properties, solutions that minimize wall or structural damage while arranging appliances and furniture will also be available.The store operates a 'one-stop customer care' service, allowing customers to receive both product purchases and service in one location. Samsung aims to reduce the inconvenience of having to visit separate locations for purchases and after-sales service, thereby expanding customer engagement. This shift reflects a broader trend in the appliance industry, moving from a focus on product performance to offering comprehensive residential solutions.To celebrate the Cheongdam store's renovation, Samsung is running a promotion for wedding and moving-in customers from August 24 to September 30. The first 100 customers who make a consultation reservation and write a visit review will receive a wine glass, along with gifts based on their purchase amounts.Samsung is also strengthening partnerships with furniture companies. Customers who purchase Samsung appliances alongside products from Livart, Casamia, and Hanssem will receive additional benefits. This initiative aims to attract newlyweds looking to buy both appliances and furniture into the store.Starting with the Cheongdam store renovation, Samsung plans to gradually expand specialized wedding stores nationwide.* This article has been translated by AI. 2026-08-25 08:28:00
Despite the End of the Heat Period, Seoul Faces Continued High Temperatures The traditional end of summer heat, known as Chuseok, has passed, but the sweltering weather continues. On the morning of August 25, temperatures in Seoul exceeded 26 degrees Celsius, making for a muggy commute.According to the Korea Meteorological Administration, the temperature in Seoul reached 26.5 degrees Celsius at 5 a.m. Incheon recorded 26.7 degrees, Gangneung 26.5 degrees, Daegu 26.5 degrees, Busan 27.6 degrees, and Jeju 26.9 degrees, with temperatures across the country remaining above 25 degrees.The heat, which did not cool down overnight, is expected to persist throughout the day. With heat advisories in effect for most regions, the forecast predicts daytime highs between 31 and 36 degrees Celsius. Seoul is expected to reach 32 degrees, while Daejeon may hit 34 degrees, and Jeonju, Gwangju, Daegu, Busan, Ulsan, and Changwon could see temperatures rise to 35 degrees.The maximum perceived temperature is also expected to rise to around 33 degrees in most areas. Some regions in the metropolitan area, eastern Gangwon, southern Chungcheong, and the southern provinces may experience perceived temperatures around 35 degrees.Showers are forecasted for Seoul and parts of the metropolitan area. Areas in Seoul, Incheon, and some parts of Gyeonggi Province may receive between 5 and 40 millimeters of rain, with northeastern Gyeonggi expected to see up to 60 millimeters. However, the Korea Meteorological Administration predicts that even if temperatures drop temporarily during the rain, they will rise again after the rain stops due to high humidity, continuing the heat.August 23 marked Chuseok, a period traditionally associated with the retreat of heat. However, this year, late summer heat continues even after this date.There is little hope for a significant relief from the heat in the near future. According to the medium-term forecast from the Korea Meteorological Administration, morning temperatures nationwide are expected to range from 21 to 26 degrees, while daytime highs will be between 28 and 35 degrees, above average for this time of year. During this period, many areas are expected to experience maximum perceived temperatures around 33 degrees, with tropical nights occurring in some locations.The Korea Meteorological Administration advises those in areas experiencing prolonged heat to limit outdoor activities and stay hydrated to maintain their health. 2026-08-25 08:16:00
DS Investment Securities Raises Hanmi Pharmaceutical's Target Price Following Genentech Deal DS Investment Securities raised Hanmi Pharmaceutical's target price to 720,000 won on August 25. The firm anticipates that the upcoming domestic approval and launch of the obesity treatment epaglenatide, along with the results from the Phase 1 trial of HM17321 and Phase 2 trial of HM15275, will contribute to an increase in the company's value. According to DS Investment Securities, Hanmi Pharmaceutical signed a technology transfer agreement with Genentech the previous day for the global rights to HM17321. The deal is valued at approximately 3.1892 trillion won, including an upfront payment of about 262.9 billion won, with additional royalties to be paid. HM17321 is a UCN2 analog that selectively acts on CRFR2. It is being developed as a next-generation treatment in the obesity market, aimed not only at weight loss but also at preserving or increasing muscle mass. The Phase 1 SAD trial is currently underway. Kim Min-jung, a researcher at DS Investment Securities, noted that the successful technology transfer increases the likelihood of positive results from the Phase 1 trial of HM17321. Consequently, the pipeline value of HM17321 has been estimated at approximately 1.3315 trillion won and newly reflected in Hanmi Pharmaceutical's overall valuation. Genentech's acquisition of HM17321 is seen as a strategic move to build a diverse treatment portfolio centered around GLP-1 class obesity treatments. Roche and Genentech anticipate that the obesity treatment market will expand into various segments and are actively developing their portfolio. Kim stated that the current valuation of HM17321 is limited to its role as a GLP-1 adjunct therapy, but there is potential for additional value to be assigned based on future clinical data, particularly as a standalone body composition improvement treatment and a foundational substance for next-generation obesity therapies. Additionally, the upcoming launch of the obesity treatment epaglenatide by Hanmi Pharmaceutical in the fourth quarter is also noteworthy. However, the underperformance of Hanmi's Chinese subsidiary, Beijing Hanmi, is considered a variable. Kim suggested that if Beijing Hanmi's performance normalizes, it could further enhance Hanmi Pharmaceutical's overall value. * This article has been translated by AI. 2026-08-25 08:12:00
Samsung Electronics Shares Plunge 8.7% Despite 110 Trillion Won Shareholder Return Plan Samsung Electronics' stock price dropped more than 8% on August 24, despite announcing a record 110 trillion won ($82 billion) shareholder return plan on August 21. Investor reactions have been lukewarm.This decline contrasts sharply with SK Hynix, whose shares surged over 12% following its announcement of a 40 trillion won stock buyback and cancellation plan. Market analysts suggest that Samsung's shareholder return fell short of expectations.One significant factor contributing to the stock's poor performance is the Financial Industry Structure Improvement Act, which restricts the company from announcing a stock cancellation plan. If Samsung were to buy back additional common shares, its stake in Samsung Life Insurance and Samsung Fire & Marine Insurance could exceed the 10% limit set by the law, potentially limiting its ability to repurchase common shares.* This article has been translated by AI. 2026-08-25 08:08:00
Chip tax windfall to fuel record 2027 budget for Korea SEOUL, Aug. 25 (AJP) — South Korea is packaging a record budget of 800 trillion won ($579 billion) for the first time for 2027, with spending set for its first double-digit increase since the global financial crisis as a chip-driven tax bonanza gives the government room to accelerate fiscal expansion even as monetary policy tightens and public debt continues to climb. The Ministry of Planning and Budget is putting the finishing touches on the spending plan, which is expected to increase total expenditure by more than 10 percent from this year's original budget of 729.9 trillion won. The scheme would top 800 trillion won for the first time, only a year after the liberal government crossed the 700 trillion won mark. The last time annual government spending grew at a double-digit pace was in 2009, when expenditure rose 10.9 percent as Seoul responded to the global financial crisis. Unlike then, however, the latest expansion is being prepared against a backdrop of unusually strong tax revenue rather than an economic downturn. Historical earnings of chipmakers Samsung Electronics and SK hynix and stock boom have bolstered tax coffers this year. Planning and Budget Minister Park Hong-keun in July said national tax revenue next year could exceed the 421.1 trillion won projected in the government's five-year fiscal management plan by more than 100 trillion won, putting it at "500 trillion won plus alpha." Some government officials now see national tax revenue potentially surpassing 600 trillion won if the memory chip bonanza persists. The scale would mark an extraordinary turnaround in Korea's fiscal position and give President Lee Jae Myung's government considerably more room to finance its industrial, regional and social policy agenda without relying entirely on additional borrowing. The government also says it will create additional room through record-scale restructuring of existing expenditure, redirecting spending toward higher-priority projects rather than financing the expansion solely through higher tax revenue. At July's National Fiscal Strategy Meeting, the government identified semiconductors, AI data centers and physical AI as three "Mega Projects" that would receive priority in fiscal resource allocation. The tax windfall would also provide the seed money for a planned Future Response Fund designed to turn unusually strong revenue into longer-term investment rather than allow a cyclical windfall to disappear into routine spending. The government defines "additional tax revenue" for the fund differently from the conventional concept of excess tax collection, which measures revenue above the official budget forecast for a particular year. Instead, the Ministry of Planning and Budget plans to calculate a trend level for domestic tax revenue based on its average annual growth of roughly 6 percent over the past decade. Revenue above that trend would be classified as additional tax income and could be transferred to the fund. On that basis, the trend level for domestic taxes in 2027 is estimated at around 370 trillion won. Domestic taxes have accounted for roughly 88 to 89 percent of Korea's national tax revenue in recent years. If total tax revenue reaches 600 trillion won next year, domestic tax receipts could approach 530 trillion won. That would leave around 160 trillion won above the estimated trend level available for classification as additional revenue under the proposed formula. The amount could be even larger if corporate tax receipts push the share of domestic taxes above 90 percent. The 2027 budget is expected to spell out both how much would be accumulated in the Future Response Fund and how much would be deployed for government projects. The fund is intended to channel above-trend tax revenue toward younger generations, future growth engines, regional development and human capital. The government has also presented the mechanism as a way to strengthen fiscal resilience by building resources during strong revenue years rather than allowing temporary gains to become permanent spending commitments. The fiscal windfall is already showing up in government accounts. National tax revenue increased by 33 trillion won from a year earlier in the first half of this year, helping narrow the managed fiscal deficit to 84.4 trillion won, the smallest first-half shortfall in three years. Corporate tax receipts rose 4.3 trillion won from a year earlier as company earnings improved, while securities transaction tax revenue increased 5.2 trillion won amid heavy stock trading. Still, the revenue increase has not stopped government debt from rising. Central-government debt stood at 1,338.5 trillion won at the end of June, up 70.3 trillion won from the end of last year. The government's existing medium-term fiscal plan, drawn up before the latest tax surge and planned spending expansion, projected the national debt-to-GDP ratio rising from 51.6 percent this year to 53.8 percent in 2027 and 58 percent by 2029. The Lee administration is nevertheless arguing that stronger revenue, expenditure restructuring and the Future Response Fund can stabilize public finances, including the debt ratio, faster than previously projected over the medium term. But the fiscal expansion conflicts with the Bank of Korea's monetary policy. The central bank raised its benchmark interest rate by 25 basis points to 2.75 percent in July, saying export- and investment-led growth had strengthened while inflation was likely to remain above its 2 percent target for some time and financial-stability risks persisted. The BOK has maintained a bias toward further tightening, creating an unusual policy mix in which fiscal policy is set to accelerate just as monetary policy becomes more restrictive. For the government, stronger tax revenue changes the fiscal calculation. Strategic spending can increase without requiring an equivalent rise in borrowing, while restructuring existing expenditure is intended to create additional room for investment. The risk is that much of the windfall is tied to one of the most cyclical parts of the economy. Korea's corporate tax base has become increasingly dependent on the earnings of its semiconductor giants, leaving tax receipts vulnerable to any reversal in the global chip cycle. A permanent increase in spending built around temporary revenue could leave a much larger fiscal gap once the boom fades. The Future Response Fund is in part an attempt to guard against that risk by separating above-trend revenue from ordinary fiscal resources and directing it toward investments intended to raise Korea's longer-term growth capacity. The government is expected to complete the budget for Cabinet deliberation and presidential approval this month before submitting it to the National Assembly early September. Under Korean law, the government must submit the budget to parliament no later than 120 days before the start of the fiscal year. AJP Takeaways South Korea is preparing its first budget above 800 trillion won, with 2027 spending expected to rise by more than 10 percent for the first double-digit increase since 2009. A semiconductor-driven tax surge could push national tax revenue above 600 trillion won, producing around 160 trillion won of above-trend domestic tax revenue under the government's proposed Future Response Fund formula. The government says higher revenue, record expenditure restructuring and the new fund can support strategic investment while improving the medium-term debt trajectory, even as the BOK maintains a tightening bias 2026-08-25 08:04:23
Trump Shares New Photos with Kim Jong Un, Excluding Hanoi Meeting On August 24, U.S. President Donald Trump posted new photos with North Korean leader Kim Jong Un on social media, reiterating his willingness to engage in dialogue with North Korea.Trump shared three photos on his social media platform, Truth Social, without any accompanying captions. The first photo was taken during the historic June 2018 summit in Singapore, while the other two were from their June 2019 meeting at Panmunjom.Notably absent was any image from the February 2019 summit in Hanoi, Vietnam, which ended without an agreement.While North Korea has not responded to Trump's recent overtures for dialogue, the posting of successful past meetings may be interpreted as a message of goodwill towards Kim.Recently, Trump has shown enthusiasm for a potential meeting with Kim, even directing a reduction in U.S.-South Korea military exercises. Speculation is growing that Trump and Kim could meet during the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, China, in November.Although North Korea has expressed disinterest in the reduction of U.S.-South Korea joint exercises, it has left the door open for dialogue, stating that relations between the two leaders remain positive.* This article has been translated by AI. 2026-08-25 07:56:00
Changes Coming in September: Expanded Parental Leave and Reduced Transportation Benefits In September, there will be significant changes to parental leave policies and public transportation benefits.According to the Ministry of Employment and Labor, starting September 18, male employees will be allowed to take parental leave during their spouse's pregnancy. Previously, men could only take parental leave after the birth of their child. Now, if their pregnant spouse faces health risks such as miscarriage or premature birth, they can take leave before the child is born. To do so, they must apply for parental leave at least seven days before the intended start date.The period for spousal maternity leave will also be expanded starting on the same date. Currently, male employees can only take this leave after their spouse gives birth, but beginning September 18, they will be able to take leave from 50 days before the expected delivery date up to 120 days after the birth. Employees must submit documentation detailing their spouse's expected delivery date and the intended leave period to their employer to access 20 days of spousal maternity leave.A new leave policy will also be introduced for male employees whose spouses experience a miscarriage or stillbirth. Starting September 18, these employees will be entitled to five days of leave, with the first three days being paid. For employees of priority support companies, the paid leave will be compensated at 100% of their regular wage, with a maximum daily limit of 84,210 won and a total cap of 252,630 won for the three days.Public transportation users will also notice changes. According to the Ministry of Land, Infrastructure and Transport, starting September 1, Seoul's 'Climate Companion Card' will be linked to the Everyone's Card service. This means that users of the Climate Companion Card will be able to access services associated with the Everyone's Card refund system.The age range for youth discounts in Seoul will also be expanded. The eligibility will now include individuals aged 19 to 39, broadening the previous criteria.However, the temporarily expanded public transportation benefits will conclude at the end of September. The Ministry of Land, Infrastructure and Transport has been operating the 'Half-Price Everyone's Card' from April to September to alleviate transportation costs amid rising fuel prices.The Everyone's Card is a fixed-rate public transportation cost support program that refunds users for amounts exceeding a certain threshold. During this period, the refund threshold has been reduced by 50%. For general users in the metropolitan area, the refund threshold is set at 30,000 won for the standard card and 50,000 won for the plus card. For youth, families with two children, and seniors, the thresholds are 25,000 won for the standard card and 45,000 won for the plus card.Additional benefits for those using public transportation during peak commuting hours will also be available until September. Users traveling during staggered hours—between 9-10 a.m., 4-5 p.m., and 7-8 p.m.—will receive a refund rate that is 30 percentage points higher than the standard rate. This temporary benefit will also end with the September usage.* This article has been translated by AI. 2026-08-25 07:40:20
U.S. Considers 7.5% Tariff on Chinese Goods Ahead of September Summit The United States is considering imposing additional tariffs on Chinese products due to overproduction ahead of a summit next month between President Donald Trump and Chinese President Xi Jinping. The effective tariff rate is expected to be around 7.5%.Bloomberg reported on August 24, citing sources, that the U.S. is preparing to impose additional tariffs based on the findings of a Section 301 investigation into overproduction.The final tariff rate and duration have not yet been determined, and there is a possibility of last-minute changes given President Trump's tendencies.It is also reported that the U.S. is considering announcing a higher tariff rate initially, then deferring some tariffs to effectively lower the rate to 7.5%.Bloomberg anticipates that if the additional tariffs are implemented, the burden of tariffs on Chinese products under the Trump administration would revert to about 20%. China had previously agreed to limit U.S. tariffs on its products to below 20% during trade truce negotiations. This move is seen as a way to pressure China without significantly escalating trade tensions ahead of the September summit.This action is interpreted as President Trump continuing his protectionist stance by addressing China's overproduction issues. The Trump administration had initiated a Section 301 investigation into overproduction against China and other major trading partners in March, following a ruling by the U.S. Supreme Court that deemed reciprocal tariffs unconstitutional.The U.S. administration is considering releasing the investigation results before the scheduled summit between President Trump and President Xi on September 24. However, it remains unclear which specific Chinese products will be targeted and what the tariff rates will be.Jamieson Greer, the U.S. Trade Representative, stated in an interview with Bloomberg TV last month that the overproduction investigation is more complex and will take longer than the forced labor investigation.The U.S. and China are also discussing the extension of the existing trade truce alongside tariff issues. The trade truce agreed upon last year is set to last for one year and is due to expire on November 10. Therefore, the September summit is expected to address not only the new tariff levels but also the conditions for extending the current trade truce.* This article has been translated by AI. 2026-08-25 07:36:00
Korea's Aug consumer confidence falls on volatile stocks and prices SEOUL, Aug. 25 (AJP) — South Korea's consumer confidence fell for the first time in four months in August as a stock-market correction and accumulated price pressures weighed on sentiment despite solid economic conditions, central bank data showed Tuesday. The Bank of Korea's Composite Consumer Sentiment Index (CCSI) fell 2.3 points from a month earlier to 104.5, snapping three straight months of gains since May. The index nevertheless remained above the benchmark of 100. A reading above 100 means consumer sentiment is more optimistic than the long-term average, while a reading below 100 indicates greater pessimism. All six components used to calculate the headline index fell from July, with consumers becoming less upbeat about both economic conditions ongoing and ahead. The index measuring perceptions of current economic conditions dropped 5 points to 79, while the outlook for the economy six months ahead fell 3 points to 89. The BOK attributed the decline to a sharp correction in the domestic stock market and the accumulated burden of higher prices, even as exports and investment continued to support the broader economy. The central bank said recent stock-market volatility had weighed on households' perceptions of economic conditions and savings, which include holdings of stocks and investment funds. Job prospects also weakened, with the employment outlook index falling 3 points to 86. The BOK pointed to continued declines in manufacturing and construction employment and persistent weakness among younger workers, particularly in industries with high exposure to artificial intelligence. The central bank said employment expectations fell across age groups but more sharply among people under 40. A recent BOK study found that much of the decline in youth employment over the past four years was concentrated in industries with high AI exposure. Households also grew less upbeat about their own finances. The index for current living conditions fell one point to 92, while expectations for living standards six months ahead declined one point to 97. Household income expectations slipped one point to 100, while the spending outlook edged down to 109. Housing expectations also cooled after rising sharply in recent months. The housing price outlook index fell 2 points to 125 from 127 in July as consumers took into account recent tax changes and government measures aimed at increasing housing supply. It was the first decline after four consecutive monthly gains through July. The index nevertheless remained well above 100, indicating that consumers expecting home prices to rise over the coming year still outnumbered those expecting a decline. The interest-rate outlook index slipped one point to 125, while the prospective price-level index was unchanged at 149. Consumers estimated inflation over the past year at 3.0 percent, while their median expectation for consumer-price inflation over the coming year remained at 2.7 percent for a second straight month. Inflation expectations three and five years ahead were also unchanged at 2.6 percent. The BOK said upward pressure from the prolonged stalemate in the Middle East conflict was offset by expectations for further interest-rate increases and the recent strengthening of the won against the U.S. dollar. Petroleum products remained the most frequently cited factor expected to push up consumer prices over the next year, selected by 50.2 percent of respondents. Agricultural, livestock and fishery products followed at 42.0 percent, amid extreme summer heat, while 33.3 percent cited public utility charges. The share citing agricultural, livestock and fishery products jumped 7.9 percentage points from July and the share pointing to rents rose 3.4 points, while the proportion citing petroleum products fell 7.3 points. The survey was conducted from Aug. 7 to 14 among 2,500 households in cities nationwide, with 2,244 responding. AJP Takeaways South Korea's consumer confidence fell 2.3 points to 104.5 in August, its first decline in four months, as a stock-market correction and accumulated inflation weighed on sentiment. Employment expectations weakened amid job losses in manufacturing and construction and persistent weakness among younger workers in industries highly exposed to AI. Housing price expectations eased after four months of gains, while one-year inflation expectations held steady at 2.7 percent. 2026-08-25 07:35:27