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  • Top Financial Group CEOs Accelerate Value-Enhancing Sales Efforts
    Top Financial Group CEOs Accelerate Value-Enhancing Sales Efforts 국내 금융지주 최고경영자(CEO)와 이사회가 해외 투자자와 접점을 넓히며 ‘밸류업 세일즈’에 속도를 내고 있다. 자사주 매입·소각과 현금배당 규모를 늘리는 데서 한발 더 나아가 주주환원 정책의 지속 가능성과 자본 활용 계획을 경영진이 직접 설명하며 기업가치 재평가를 끌어내려는 움직임이다. 24일 금융권에 따르면 신한금융그룹은 오는 27일 이사회 라운드테이블을 개최할 예정이다. 라운드테이블은 신한금융 이사회가 매년 정례적으로 여는 투자자 소통 행사다. 그룹의 중장기 경영전략과 지배구조 방향을 공유하고 주주와 이사회가 주요 현안을 놓고 의견을 나누는 자리다. 경영진뿐 아니라 이사회가 직접 투자자와 소통하며 경영전략과 주주환원 정책에 대한 신뢰를 높이겠다는 취지다. 신한금융은 이번 행사에서 연간 현금배당 1조4000억원과 1조4000억원 이상 자사주 매입·소각 등 총 2조8000억원 넘는 주주환원 계획을 설명할 예정이다. 단기적인 환원 규모뿐 아니라 안정적인 이익과 자본비율을 바탕으로 현재의 주주환원 정책을 지속할 수 있다는 점을 강조할 것으로 보인다. 다음 달에는 진옥동 신한금융 회장이 이찬진 금융감독원장과 함께 영국을 방문한다. 글로벌 금융 중심지인 영국 투자자들을 상대로 한국 금융시장과 금융회사의 경쟁력, 기업가치 제고 노력을 알릴 예정이다. 금융당국 수장과 금융지주 회장이 함께 해외 투자자를 만나 코리아 디스카운트 해소를 위한 세일즈에 나서는 것이다. 다른 금융지주들도 CEO를 앞세운 투자자 소통을 강화하고 있다. KB금융은 올해 자사주 매입소각 1조 9000억원을 포함한 총 3조7000억원의 주주환원을 발표했다. 양종희 KB금융 회장은 매년 개최되는 라운드테이블에서 그룹 경영성과와 성장전략, 자본 활용계획 등에 대해 주주들과 직접 소통해 왔다. 하나금융도 함영주 회장이 북미 등 해외 투자자를 만나 자기주식 취득·소각 확대를 비롯한 주주환원 강화 방안을 설명해 왔다. 우리금융은 임종룡 회장을 중심으로 해외 IR을 이어가는 동시에 대표이사 3연임 때 이사회 특별결의를 거치도록 하는 등 지배구조 투명성을 높이는 데 초점을 맞추고 있다. 금융지주들이 CEO와 이사회를 투자자 소통의 전면에 내세우는 배경에는 국내 금융주의 고질적인 저평가가 있다. 안정적인 이익 창출 능력과 높은 배당수익률에도 주요 금융지주의 주가순자산비율(PBR)은 여전히 1배를 밑돌고 있다. 주가가 장부상 순자산 가치에도 미치지 못한다는 의미다. 최근 금융지주 간 주주환원 경쟁이 본격화하면서 투자자에게 전달해야 할 내용도 달라지고 있다. 단순히 분기 실적이나 자사주 소각 규모를 소개하는 수준을 넘어 중장기 주주환원 정책의 지속 가능성과 자본비율 관리, 성장 투자 계획을 구체적으로 제시해야 하기 때문이다. 금융권 관계자는 “자사주 매입·소각 규모를 늘리는 것만으로는 기업가치 제고 계획의 지속 가능성을 투자자에게 충분히 설명하기 어렵다”며 “CEO와 이사회가 직접 자본정책과 지배구조 개선 방향을 설명하는 것이 글로벌 투자자의 신뢰를 확보하고 금융주 재평가를 끌어내는 중요한 수단이 되고 있다”고 말했다. 2026-08-24 17:04:00
  • U.S. artillery setbacks open door for Koreas K9 
    U.S. artillery setbacks open door for Korea's K9  SEOUL, August 24 (AJP) - U.S. artillery helped South Korea withstand North Korea's invasion in the Korean War. More than seven decades later, the U.S. Army is testing a South Korean gun to help modernize its own firepower. The U.S. Army's decision to select Hanwha Aerospace's K9-based artillery system for prototype testing is more than a breakthrough for the South Korean defense company. It also reflects years of difficulty modernizing U.S. artillery after repeated development setbacks and a long military focus on counterterrorism. The Army selected Hanwha Defense USA's K9 Mobile Howitzer (K9MH) for its Mobile Tactical Cannon (MTC) program on Aug. 18, ordering six prototype systems with an option for another 12. The initial agreement is valued at $100.3 million and has a cumulative ceiling of $262.9 million if the additional systems are ordered. Unlike the tracked K9 Thunder operated by South Korea and a growing number of overseas customers, the K9MH places technology derived from the K9 family on a wheeled platform designed to meet U.S. requirements for greater tactical mobility. American soldiers will put the systems through operational experiments over an estimated four-year period, assessing performance, reliability and supportability under realistic combat conditions. If the Army eventually approves the system for fielding, the MTC is expected to replace M777 155 mm towed howitzers in selected formations. The goal is straightforward: give artillery units greater mobility and survivability on battlefields where drones, sensors and precision weapons can expose and strike a firing position within minutes. For a U.S. military accustomed to developing major land-combat systems at home, moving a foreign-derived platform into prototype testing is notable. It also comes after years of difficulty modernizing American tube artillery. "After 9/11, the United States shifted its military strategy away from preparing primarily for large-scale conventional warfare and toward counterterrorism and smaller conflicts," said Jeong Kyung-woon, a research fellow at the Korea Association of Military Studies. "As the Army moved from a division-centered structure toward brigade-centered operations, the priority given to the development of traditional ground-fire support, including 155 mm artillery, also declined relatively," Jeong said. The post-9/11 wars accelerated a broader Army shift toward brigade combat teams that could deploy and operate more independently. At the same time, major attempts to transform U.S. self-propelled artillery repeatedly failed to reach the battlefield. The Crusader program, launched in the 1990s as a possible successor to the M109 Paladin self-propelled howitzer, was canceled in 2002. The Non-Line-of-Sight Cannon, developed under the Army's ambitious Future Combat Systems program, met the same fate when that program was restructured and canceled in 2009. The most recent setback came with Extended Range Cannon Artillery, or ERCA. The program sought to extend the range of the Paladin from roughly 30 kilometers to about 70 kilometers by fitting it with a much longer 155 mm gun. Testing exposed a major problem. The longer gun tube suffered excessive wear after firing relatively few rounds, raising questions about whether it could sustain the firing rates required in combat. The Army closed out ERCA's rapid-prototyping effort and shifted toward evaluating mature artillery systems already available from U.S. and foreign manufacturers. "The U.S. military would have preferred to develop a key 155 mm artillery system domestically if possible," Jeong said. "But when domestic development did not proceed as planned, it ultimately had to look at proven systems that were already available." "While the United States went through repeated difficulties with its next-generation artillery programs, systems such as Korea's K9 and Germany's PzH 2000 continued to undergo upgrades and accumulate operational experience," he said. The canceled programs and the K9MH contract are not part of one direct acquisition lineage. Crusader, NLOS-C and ERCA largely centered on replacing or extending the capabilities of the tracked M109 Paladin, while the MTC program is intended to replace M777 towed artillery in selected units. The common thread is a change in procurement strategy. After years spent trying to develop a new artillery solution largely from scratch, the Army has increasingly turned to mature systems that can be tested, adapted and fielded more quickly. The K9 enters that competition with scale already behind it. Hanwha says more than 2,500 K9-family howitzers have been fielded globally. The system has been adopted by South Korea, Türkiye, Poland, India, Finland, Norway, Estonia, Australia, Egypt and Romania, including six NATO members. The growing customer base has given Hanwha something that matters in a U.S. competition: years of production experience and a supply chain built around a weapon already operating in different climates and military organizations. Winning the prototype agreement, however, remains far from securing a full U.S. Army procurement program. The six systems must first survive years of soldier testing, and the Army has made clear that the data will be used to decide whether and how the weapon should eventually be fielded. Hanwha is nevertheless preparing for a longer-term U.S. presence. Hanwha Defense USA is establishing an integration and testing facility in Opelika, Alabama, as part of its localization strategy. The company has said the facility will support its effort to build a U.S. supply chain around the K9 platform. Hanwha Group is also injecting up to $299 million into Hanwha Defense USA and Hanwha FutureProof, an investment vehicle established to invest in strategic U.S. assets, as the conglomerate expands across the world's largest defense market. Hanwha Defense USA, wholly owned by Hanwha Aerospace, serves as the group's U.S. land-defense arm. Hanwha Aerospace shares closed 3.13 percent higher Monday at 1.119 million won. The prototype order does not mean the U.S. Army has chosen a Korean gun. It does mean that a South Korean artillery system has reached a point where the world's largest military is testing it as a possible answer to one of its own capability gaps. More than seven decades after American artillery helped defend South Korea, the flow of military hardware between the two allies is no longer one-way. AJP Takeaways · The U.S. Army selected Hanwha Defense USA’s K9 Mobile Howitzer for prototype testing under its Mobile Tactical Cannon program, marking a major step for South Korea’s K9 artillery platform in the U.S. defense market. · Repeated setbacks in U.S. artillery modernization, including the canceled Crusader, NLOS-C and ERCA programs, have pushed the Army toward testing mature foreign and domestic systems that can be fielded more quickly. · Hanwha’s K9 family is already used or ordered by 10 countries, including six NATO members, while the company expands U.S. investment and localization ahead of years of Army testing. 2026-08-24 17:03:55
  • Samsung buyback disappointment pushes KOSPI down 3.1%
    Samsung buyback disappointment pushes KOSPI down 3.1% SEOUL, August 24 (AJP) - South Korea's benchmark KOSPI plunged 3.1 percent Monday as Samsung Electronics' record shareholder-return plan disappointed investors, triggering heavy selling in large-cap technology stocks even as the broader KOSDAQ market rose. The KOSPI shed 215.99 points to 6,696.96. Foreign investors sold a net 3.68 trillion won ($2.66 billion) and institutions sold 1.29 trillion won ($936 million), while individuals bought 3.32 trillion won ($2.40 billion). Samsung Electronics fell 8.7 percent to 257,000 won ($186.03), its sharpest drop among the market's biggest stocks, after the company announced a shareholder-return plan worth up to 110 trillion won ($79.62 billion) for 2026. Investors had expected more aggressive share buybacks and cancellations, making the size of the plan less important to the market than how much of it would directly reduce the share count. SK hynix fell 3.4 percent to 1.671 million won ($1,209.55), extending the weakness across Korea's semiconductor leaders. The decline was concentrated in large caps rather than the broader market. The KOSDAQ rose 11.39 points to 813.33, up 1.4 percent, as biotechnology and other smaller companies advanced even while the KOSPI was hit by heavy selling in technology stocks. LG Energy Solution bucked the broader selloff, rising 5.4 percent to 362,000 won ($262.03). The divergence also appeared across Northeast Asia. In Tokyo, the Nikkei 225 fell 0.7 percent to 65,528.09, with Advantest among the biggest drags on the index, while Tokyo Electron rose and provided the largest positive contribution. The Shanghai Composite fell 25.68 points to 3,879.52, down 0.7 percent, according to desk data. Seoul's decline was therefore deeper than those in Tokyo and Shanghai, with the selling concentrated around the semiconductor-heavy companies that had led the Korean market's earlier gains. Samsung's shareholder-return plan calls for 90 trillion to 110 trillion won ($65.15 billion-$79.62 billion) in returns this year, including about 30 trillion won in third-quarter cash dividends. The reaction showed that investors were looking beyond the headline size of Samsung's payout and focusing instead on how much of the company's strong semiconductor cash flow would translate into direct support for the stock. The Korean won traded at 1,381.50 per dollar, the highest since mid-September 2025. 2026-08-24 17:01:37
  • LG Electronics CEO Ryu Jae-cheol: New Brazil Plant to Serve as Strategic Hub for Latin America
    LG Electronics CEO Ryu Jae-cheol: New Brazil Plant to Serve as Strategic Hub for Latin America Ryu Jae-cheol, CEO of LG Electronics, announced plans to develop the newly operational plant in Parana, Brazil, into a strategic production hub for the Latin American market.On August 24, Ryu stated via social media, "We have taken an important step by launching a new home appliance factory in Parana, Brazil. This facility, which will produce approximately 600,000 refrigerators annually using smart factory technology, signifies more than just an expansion of our production base."LG Electronics began operations at the Parana plant on August 13. This facility is the company's second production site in Brazil, following the Amazonas plant in Manaus, which was established in 1996, and will focus on refrigerator manufacturing.The new plant incorporates smart factory solutions based on artificial intelligence (AI) and industrial robots. This initiative aims to enhance production efficiency and quality competitiveness while strengthening process stability.With the launch of the Parana plant, LG plans to increase the local production share of refrigerators in Brazil. Previously, some refrigerators sold in Brazil were supplied from production bases in Southeast Asia.Ryu emphasized, "The operation of the Parana plant will significantly expand local production, reduce logistics costs and delivery times, and enhance supply stability and price competitiveness."In the long term, LG aims to extend the role of the Parana plant beyond the Brazilian domestic market to serve the entire Latin American region. The company envisions strengthening its business competitiveness in the high-growth potential global south market based on local production and supply chains.Ryu stated, "In the long run, we will develop the Parana plant into a strategic hub that supports not just the Brazilian domestic market but the entire Latin America. The success of a company depends on how competitive it can be in terms of products, production, and supply chains in the local market."* This article has been translated by AI. 2026-08-24 17:00:10
  • Washs Jackson Hole Debut Raises Concerns Over U.S. Treasury Sell-Off
    Wash's Jackson Hole Debut Raises Concerns Over U.S. Treasury Sell-Off As U.S. Treasury yields continue to rise, all eyes are on Federal Reserve Chair Kevin Wash's upcoming address at the Jackson Hole Economic Policy Symposium. Analysts warn that if Wash fails to deliver a clear message regarding the rising Treasury yields, the sell-off of U.S. Treasuries could worsen.The symposium, hosted by the Federal Reserve Bank of Kansas City from August 27 to 29, will focus on the theme 'Financial Innovation: Impacts on Payments and Policy.' This marks Wash's first Jackson Hole symposium since taking office in May, with his keynote speech scheduled for August 28.Given the recent surge in U.S. Treasury yields—30-year Treasury yields have surpassed 5.3%, the highest level in 19 years since the global financial crisis in 2007, and 10-year Treasury yields have reached 4.75%, the highest in 19 months—there is heightened interest in what message Wash will convey. This increase in yields has also triggered a rise in bond yields across major developed countries, including Germany, France, Japan, and the United Kingdom.However, Wash has maintained a conservative communication style since taking office, rarely utilizing forward guidance. This has led to concerns that he may not provide a clear indication of future policy directions. Christian Baumeister, a professor at the University of Notre Dame, expressed concern that Wash seems reluctant to offer a transparent assessment of the current economic situation and U.S. economic outlook, which could lead to unnecessary speculation, destabilize financial markets, and raise concerns about the Fed's credibility, as reported by the Financial Times.Bloomberg noted that if Wash does not present a clear outlook on the economy, interest rates, and policy at this year's Jackson Hole symposium, the recent sell-off of U.S. Treasuries could intensify. Molly Brooks, a U.S. bond strategist at TD Securities, stated that if Wash maintains his previous communication style, it could be perceived as disappointing by the market, potentially exacerbating the ongoing sell-off of long-term bonds.Casey Bostancic, chief economist at Nationwide Mutual, also highlighted ongoing uncertainties regarding fiscal concerns, inflation, and the Fed's response strategies, noting that the fundamental factors driving long-term yields remain unchanged.As the Jackson Hole symposium approaches, the need for effective communication from Wash has never been more critical. Eric Rosengren, former president of the Boston Fed, emphasized that even if Wash remains silent on future decisions, he must provide explanations for current decisions, stating that his communication strategy is undermining the Fed's credibility.* This article has been translated by AI. 2026-08-24 17:00:00
  • Timefolio Asset Management Faces Internal Control Scrutiny After ETF Delistings
    Timefolio Asset Management Faces Internal Control Scrutiny After ETF Delistings Active exchange-traded funds (ETFs) are facing increasing delistings from the market due to failures in managing correlation coefficients. Following a similar incident at Korea Investment Trust Management, Timefolio Asset Management has seen one of its products delisted for failing to maintain a correlation coefficient above a certain level with its benchmark index.According to the financial investment industry on August 24, Kim Nam-ho, head of Timefolio's ETF management division, has been responsible for all 19 ETFs managed by Timefolio until the end of last month. Among these, nine products, including the recently delisted 'TIME U.S. Dividend Dow Jones Active,' were under his direct management.Despite a recent organizational restructuring at the beginning of this month, Kim continues to oversee six key ETFs, including 'TIME KOSDAQ Active,' 'TIME China AI Tech Active,' 'TIME Global AI Active,' 'TIME Korea Plus Dividend Active,' and 'TIME U.S. Nasdaq 100 Active.'In smaller asset management firms, it is common for a single manager to oversee multiple products. However, industry experts argue that the fact that the manager responsible for the problematic product has broadly managed the entire ETF portfolio raises questions about the adequacy of the management and internal control systems.Large asset management firms typically delineate responsibilities among managers to enhance expertise and management efficiency. For instance, dividend-focused products are managed by those specializing in dividend and value stocks, while technology-focused products are overseen by managers with expertise in growth and tech stocks. In contrast, Timefolio has a structure where one manager oversees a wide range of products, from dividend stocks to Nasdaq 100, KOSDAQ, and AI and semiconductor-related products.Regarding the recent delisting, Timefolio Asset Management stated that despite achieving higher returns than the benchmark index, the product was removed due to correlation coefficient regulations. However, industry insiders argue that it is insufficient to assess management adequacy based solely on periods of outperformance against the benchmark. In fact, the TIME U.S. Dividend Dow Jones Active underperformed its benchmark for about six months, from mid-November last year to early May this year.Moreover, the product's management strategy significantly diverged from the benchmark index. The TIME U.S. Dividend Dow Jones Active is designed to select high-dividend stocks based on the U.S. dividend stock index 'SCHD' and pursue excess returns. However, its actual portfolio included less relevant tech stocks. This suggests that the pursuit of higher returns may have led to a management strategy that strayed too far from the benchmark, resulting in a failure to meet the correlation coefficient requirement.One industry insider noted, "Unlike passive funds that simply track a benchmark, active funds must generate excess returns, making management capabilities crucial. In a market with a strong focus on domestic semiconductors, as seen in the first half of this year, managing these funds becomes challenging, and achieving excess returns over the long term is difficult."The effectiveness of internal controls during the correlation coefficient management process is also under scrutiny. Active ETFs must maintain a correlation coefficient of 0.7 or higher with their benchmark, and if they fall below this threshold for more than three months, they face delisting.Some experts suggest that issues should be identified from the product development stage. If the gap between the benchmark and the actual management strategy is too wide, it raises questions not only about management practices but also about the adequacy of the initial product design and index selection process.One asset management industry representative stated, "Even if a manager deviates from the correlation coefficient standards, there should be a compliance organization in place to manage this. It appears that proper double-checking was not conducted. We need to assess whether there was a system in place to continuously monitor the correlation coefficient and make adjustments when anomalies occurred."Delistings due to failures in managing correlation coefficients for active ETFs have been recurring this year. In July, four products from Korea Investment Trust Management, including 'ACE TDF 2030 Active,' 'ACE TDF 2050 Active,' 'ACE TDF Long-term Asset Allocation Active,' and 'ACE Apple Value Chain Active,' were delisted for similar reasons. Following this, Timefolio's TIME U.S. Dividend Dow Jones Active was also removed from the market on August 19. 2026-08-24 16:56:00
  • NCSOFT Diversifies Revenue with Mobile Casual Games
    NCSOFT Diversifies Revenue with Mobile Casual Games NCSOFT is expanding its mobile casual gaming business, diversifying its revenue structure that has heavily relied on major intellectual properties (IP) and the success of new MMORPG titles. With mobile casual games now accounting for over 20% of its revenue, analysts are recognizing the company’s efforts to secure a stable revenue base.According to NCSOFT, its mobile casual game revenue for the second quarter reached 169.7 billion won, representing 22% of total sales. This growth follows the integration of results from Lihuhu and Springcom in the first quarter, along with contributions from Just Play starting in the second quarter.Analysts are focusing on the increased share of mobile casual games in NCSOFT's business portfolio rather than just revenue growth. Historically, the company has experienced significant revenue volatility based on the performance of core IPs like Lineage and new MMORPG releases. By expanding its mobile casual gaming segment, NCSOFT aims to reduce revenue gaps between existing titles and major new releases, thereby lowering overall performance volatility.Jung Ho-yoon, a researcher at Hanwha Investment & Securities, highlighted the structural changes within NCSOFT. He noted, “Unlike in the past, where revenue volatility was heavily influenced by a single game, the diversification of the lineup, particularly with the increasing revenue share from casual games, is noteworthy.”Kim Dong-woo, a researcher at Kyobo Securities, assessed that NCSOFT's growth strategy has been validated by its second-quarter results. He anticipates that the casual gaming segment will reduce reliance on the success of major new titles while generating synergy with its casual studio and driving additional growth through the publishing of external casual game lineups.Choi Ji-woon, a researcher at Yuanta Securities, also remarked, “As the revenue base from existing titles strengthens, the additional growth from global new releases and mobile casual games has increased revenue visibility compared to before.”Looking ahead, the significance of the mobile casual gaming segment is expected to grow further. Kyobo Securities projects that NCSOFT's mobile casual game revenue will rise from 571.4 billion won in 2026 to 790.9 billion won in 2027, with its share of total revenue exceeding 25%.* This article has been translated by AI. 2026-08-24 16:56:00
  • JW Pharmaceutical Unveils New Brand Identity for Frenz Eye Care Line
    JW Pharmaceutical Unveils New Brand Identity for 'Frenz' Eye Care Line JW Pharmaceutical has revealed a new brand identity for its eye care brand 'Frenz,' expanding its offerings beyond pharmaceuticals to include cosmetics, medical devices, and food products.On August 24, JW Pharmaceutical announced the new brand identity for Frenz, aiming to enhance its product portfolio and consumer engagement.Frenz has grown around the company's flagship over-the-counter product, 'Frenz Eye Drop Solution.' This product has maintained the top sales position in South Korea's artificial tears market for 13 consecutive years, according to IQVIA data from 2013 to 2025, establishing strong brand recognition and competitiveness.With this brand renewal, the company plans to expand Frenz from its existing focus on eye drops and contact lens care products to a comprehensive eye health management brand. The strategy is to position Frenz as a 'daily eye health brand' that consumers can encounter regularly. In the second half of this year, the company plans to sequentially launch food products, cosmetics, and eye massage medical devices related to eye health.Existing products will also be gradually renewed. The packaging and design of Frenz Eye Drops, as well as lens preservation solutions and care products, will be updated, and the same brand design framework will be applied to new products.The new brand identity encapsulates the value of 'everyday care for clear and healthy eyes.' It visually represents moisture by reflecting light in a droplet shape and incorporates a right-leaning form that inherits the heritage of the existing 'F,' conveying vitality. The wordmark, composed of rounded curves, emphasizes the 'Friendly' nature of the brand, designed to convey a familiar and comfortable image.JW Pharmaceutical has also developed a new brand pattern that reflects Frenz's visual identity. The new brand identity and pattern will be consistently applied across product packaging, advertising, in-store displays, and digital content, ensuring a unified brand experience for consumers while maintaining the unique characteristics of each product.In line with the expanded product portfolio, the company will broaden its consumer base and distribution channels. It plans to shift its focus from the 10-20 age group to include consumers in their 30s and 50s, diversifying sales channels beyond pharmacies to convenience stores, health and beauty (H&B) stores, large supermarkets, and online platforms.A representative from JW Pharmaceutical stated, 'Building on the trust established by Frenz Eye Drops, we will expand Frenz into various areas of eye health management. Starting with the new integrated brand identity, we aim to introduce differentiated products across pharmaceuticals, cosmetics, medical devices, and food, nurturing Frenz as a leading total eye care brand.'Meanwhile, the company is also accelerating efforts to strengthen its portfolio of original prescription drugs. It plans to advance clinical trials for 'Bofanglutide,' a new candidate drug from China’s Gan & Lee Pharmaceuticals, which belongs to the glucagon-like peptide-1 (GLP-1) receptor agonist class, initially targeting obesity indications and additional indications.* This article has been translated by AI. 2026-08-24 16:52:20
  • Special Prosecutor Concludes Investigation, Charges 58 Including Yoon Suk Yeol and Kim Geon-hee
    Special Prosecutor Concludes Investigation, Charges 58 Including Yoon Suk Yeol and Kim Geon-hee The second special prosecutor team, led by Kwon Chang-young, has concluded its six-month investigation into remaining allegations from the third special prosecutor team, charging 58 individuals, including former President Yoon Suk Yeol and Kim Geon-hee. However, some allegations remain unresolved and have been transferred back to the police.Kwon Chang-young held a final briefing on August 24 at the special prosecutor's office in Gwacheon, Gyeonggi Province, stating, "We received 152 cases in the comprehensive investigation and processed 126 of them." He noted that 7 individuals were indicted while 51 were indicted without detention. The indictment list includes high-ranking officials from the presidential office, military, prosecutors, police, and the National Intelligence Service.The special prosecutor indicted several individuals related to allegations concerning the relocation of the presidential office. They took over cases previously transferred to the National Investigation Headquarters due to time constraints, charging Kim Geon-hee and Yoon Han-hong, a member of the National Assembly, for their involvement in selecting contractors for the new office.Additionally, Kwon indicted former Chief of Staff Kim Dae-ki and former Minister of the Interior and Safety Lee Sang-min for illegally diverting government funds during the relocation process. The special prosecutor also indicted Yoo Byeong-ho, an auditor at the Board of Audit and Inspection, who is accused of covering up the allegations.Key suspects involved in the December 3 emergency martial law have also been indicted. The special prosecutor charged four senior officials from the Joint Chiefs of Staff with important duties related to insurrection. Yoon Suk Yeol and former National Security Office head Shin Won-sik were indicted without detention for allegedly justifying the emergency martial law to allied nations, while former first deputy director of the National Security Office Kim Tae-hyo was indicted with detention.Other individuals charged include former presidential secretary Lee Si-won, accused of leaking information about the case involving a deceased marine, and former head of the Defense Security Command Hwang Yu-seong, who is alleged to have concealed the so-called 'VIP anger theory.'However, 46 unresolved cases, including the 'Noh Sang-won notebook' allegations, the route change of the Seoul-Yangpyeong Expressway, and the cover-up of overseas gambling investigations involving the Unification Church, have been transferred to the National Investigation Headquarters.Kwon stated, "The essence of insurrection is organized and collective," emphasizing the need for a longer investigation to fully uncover the details of the insurrection and state affairs manipulation allegations.With the investigation period concluded, the special prosecutor's office will transition to maintaining prosecutions. Investigative personnel will be reassigned to a minimal team necessary for prosecution maintenance, and additional experienced lawyers will be hired as special prosecutors to support this effort. 2026-08-24 16:48:10
  • Is This Time Different? Retail Investors Face Market Turmoil
    Is This Time Different? Retail Investors Face Market Turmoil The stock market is a battleground where victories and defeats are determined by numbers rather than weapons. Between the peaks and troughs of fluctuating graphs lies the blood (losses) shed by investors. In this daily, hourly, minute-by-minute battle, retail investors, often referred to as 'ants,' are at a disadvantage. Lacking the information that institutional and foreign investors possess, they frequently become scapegoats.For these retail investors, the past two months have been the worst battlefield in the history of the Korean stock market. It has been a period of unprecedented volatility. The index, which peaked at 9,114 points on June 22, plummeted to 5,993 points by July 30. In August, it showed signs of recovery, fluctuating between 6,700 and 6,900. During this time, the gap between the highest and lowest points of the KOSPI index reached 3,121 points, illustrating a dramatic swing in just two months.The extent of this volatility is evident in the number of times market circuit breakers were triggered. From June 22 to August 21, circuit breakers were activated seven times, and sidecars were triggered 31 times, totaling 38 instances. For context, the highest annual activation of these mechanisms occurred during the 2008 global financial crisis, with only 26 instances that year, highlighting the extraordinary volatility of the current market.Given such extreme fluctuations, it is understandable that retail investors have been left bewildered over the past two months. No one can confidently predict whether the index will rise again or continue to fall. This uncertainty leads people to rely on someone else's 'predictions.'In chaotic times, prophecies abound. Historically, all prophetic texts emerged during periods of turmoil and uncertainty about the future. Many later proved to be misleading or even false prophets.The situation surrounding our stock market in the past two months is no different. Amid unprecedented daily fluctuations of 5% to 10%, numerous 'prophets' from securities firms, investment banks, and government agencies have been making various predictions. These so-called 'experts' are not limited to the Yeouido financial district; on platforms like YouTube and social media, individuals claiming to be 'investment gurus' have urged retail investors to buy specific stocks. Including those known as 'finfluencers,' the number of unlicensed forecasters runs into the hundreds or thousands.However, it is essential to think critically about these predictions. Many of them merely explain price movements that have already occurred. When stock prices rise, they provide reasons for the increase, and when they fall, they seek explanations for the decline. This often resembles post-event commentary rather than genuine forecasting.Looking back just a few months, in May and June, most securities firms projected the KOSPI index would exceed 9,000 points by the end of the year. Some foreign investment banks even forecasted it could reach 12,000 points. Their reasoning was clear: the anticipated supercycle in memory semiconductors driven by the spread of artificial intelligence (AI) was expected to be stronger and longer-lasting than previously thought, fundamentally different from past semiconductor cycles.However, following the market's sharp decline starting June 22, these forecasts changed. Analysts began to assert that the downturn was merely a 'short-term correction' or that the fundamentals remained strong enough for a rebound. They reiterated that the market had changed from the past. Yet, the market did not follow these predictions.This brings to mind the warning from legendary investor Sir John Templeton, who stated, 'The four most dangerous words in investing are: This time it’s different.' He pointed out that during bull markets, greed can lead to overly optimistic future expectations, while in bear markets, fear can result in excessive pessimism. Ultimately, when the market undergoes drastic changes, people tend to find evidence to support the forecasts they wish to believe.Of course, this does not mean that market forecasts are unnecessary. Analyzing the fundamentals of the economy and companies, as well as assessing future risks and opportunities, is a crucial part of investing. The issue arises when these analyses are treated as 'prophecies.' Just because a prediction turns out to be correct does not mean the person making it has accurately foreseen the market's future. One of many forecasts may align with reality after the fact. Predictions of '10,000 points' or 'the bottom is in' could ultimately be correct, but this is more likely a result of market movement than prophetic ability.The stock market will continue to rise and fall. No one can consistently predict its direction. Especially when the market swings between extreme greed and fear, relying on expert forecasts for investment decisions becomes even riskier. Therefore, Templeton's warning remains relevant today. In bull markets, investors should be wary of predictions that 'this time it will rise endlessly,' and in bear markets, they should be cautious of fears that 'this time it will collapse forever.' What retail investors need now is not a prophet to predict the future, but a mindset prepared to endure regardless of the market's direction. This is the survival strategy in times of extreme volatility. 2026-08-24 16:48:10