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  • Busan International Film Festival Reveals Competition Jury Members, Led by Zhang Yimou
    Busan International Film Festival Reveals Competition Jury Members, Led by Zhang Yimou The 31st Busan International Film Festival has announced the seven members of its competition jury. On September 17, the festival appointed director Zhang Yimou as the jury chair for the competition section. Joining him are directors Bikan and Jeong Joo-ri, actress Samal Yeslyamova, director Ishikawa Kei, producer Tran Thi Bich Ngoc, and actress Choi Hee-seo. Zhang Yimou is a prominent Chinese director known for winning the Golden Bear at the Berlin International Film Festival, the Golden Lion at the Venice Film Festival, and the Jury Prize at the Cannes Film Festival. He will lead the jury in evaluating 13 films selected for the competition. Director Bikan gained attention with his feature debut 'Kylie Blues' and 'The Last Night on Earth.' Last year, he was invited to the Busan International Film Festival's competition section with 'The Era of Wilderness,' where he received the Artistic Contribution Award.Kazakh actress Samal Yeslyamova won the Best Actress award at the Cannes Film Festival for her role in 'Ayka.' Director Ishikawa Kei made waves at the Venice Film Festival with 'The Record of a Fool' and won eight awards, including Best Picture at the Japan Academy Awards for 'A Man.' Director Jeong Joo-ri has had all three of her films, 'Dohuiya,' 'Next Sohee,' and 'Dora,' invited to the Cannes Film Festival. Vietnamese producer Tran Thi Bich Ngoc has showcased her works at international film festivals in Berlin, Toronto, and Tokyo, and oversees the project market and talent project at the Da Nang Asian Film Festival. Choi Hee-seo has worked not only as an actress but also in directing and producing. She directed the short film 'Bandi' in the anthology 'Unframed' and starred in and produced 'Bedford Park,' which will be screened at this year's Busan International Film Festival.The competition section of the Busan International Film Festival was introduced last year. This year, the jury is composed of individuals active in the Asian film industry, including directors, actors, and producers. The winners of the competition section will receive the 'Busan Award.' There are five award categories: Grand Prize, Best Director, Jury Special Award, Best Actor, and Artistic Contribution Award, with a total prize money of 110 million won. The 31st Busan International Film Festival will take place from October 6 to 15 at the Busan Cinema Center.* This article has been translated by AI. 2026-09-17 09:28:10
  • KOSPI Opens 0.9% Higher Amid Feds Hawkish Stance, Foreign Investors Sell
    KOSPI Opens 0.9% Higher Amid Fed's Hawkish Stance, Foreign Investors Sell The KOSPI opened 0.9% higher as the U.S. Federal Reserve raised interest rates for the first time in over three years and hinted at the possibility of further increases this year. Despite a broad decline in U.S. stocks overnight, the domestic market showed gains, driven by semiconductor stocks such as Samsung Electronics and SK Hynix.As of 9:08 a.m. on September 17, the KOSPI was up 38.86 points (0.58%) at 6756.83. The index started at 6779.02, up 61.05 points (0.91%) from the previous close, before giving back some of its gains.In the securities market, individual and institutional investors bought a net 90.1 billion won and 52.2 billion won, respectively. In contrast, foreign investors sold a net 200.4 billion won.Among the top market capitalization stocks, Samsung Electronics rose 0.99%, SK Hynix increased by 0.91%, and Hyundai Motor gained 0.55%. However, LG Energy Solution fell by 0.27% and KB Financial dropped by 0.28%.The KOSDAQ index also showed an upward trend. At the same time, the KOSDAQ was trading at 822.53, up 6.55 points (0.80%) from the previous day. It opened at 820.16, up 4.18 points (0.51%), and then increased further.In the KOSDAQ market, individual and institutional investors bought a net 27.5 billion won and 2.3 billion won, respectively, while foreign investors sold a net 28.9 billion won.Among the top KOSDAQ stocks, Alteogen rose 0.39%, EcoPro increased by 0.49%, and JUSUNG Engineering gained 0.99%. Conversely, EcoPro BM fell by 0.19%, Rainbow Robotics dropped by 0.24%, and Wonik IPS decreased by 1.42%.Overnight, U.S. stocks fell sharply following the Fed's interest rate hike and the potential for further tightening. On September 16, the Dow Jones Industrial Average closed down 631.21 points (1.21%) at 51,461.90. The S&P 500 index fell by 33.92 points (0.45%) to 7551.81, while the tech-heavy Nasdaq Composite dropped 3.15 points (0.01%) to 25,978.43.U.S. stocks initially rose but reversed course after the Fed's interest rate decision. The Fed raised the benchmark interest rate by 0.25 percentage points to a range of 3.75% to 4.00%, marking the first increase in about three years and two months.All 12 members of the Federal Open Market Committee (FOMC) unanimously supported the rate hike. With the Fed leaving the door open for additional rate increases this year, market concerns about the intensity of future tightening have grown.U.S. Treasury yields also rose, with the benchmark 10-year Treasury yield surpassing 5% during the session. The dollar strengthened, with the dollar index (DXY) rising 0.6% to 100.21 against a basket of six major currencies.International oil prices fell. After a sharp rise in previous days, oil prices retreated as news emerged of Saudi Arabia's diversion of oil supplies. West Texas Intermediate (WTI) for October delivery settled at $102.43 per barrel, down 3.21% from the previous day.Han Ji-young, a researcher at Kiwoom Securities, stated, "We should prepare for the possibility of one more rate hike this year," adding that the domestic market is likely to experience increased volatility as it digests the hawkish signals from the September FOMC.* This article has been translated by AI. 2026-09-17 09:28:00
  • Korean Authors Gather for Literature Week 2026 Opening
    Korean Authors Gather for Literature Week 2026 Opening The works of prominent Korean authors will be showcased through readings, performances, and discussions over five days.The largest literary festival in South Korea, 'Literature Week 2026: Glance,' officially opened on September 16 at the ARKO Arts Theater with a ceremony hosted by the Arts Council Korea (ARKO) and supported by the Ministry of Culture, Sports and Tourism.The opening ceremony honored the late poet Heo Su-gyeong, a beloved figure in Korean lyric poetry. The program, titled 'Heo Su-gyeong is a Wonderful Name,' featured a talk with six planning committee members, including poet Kim Hyun, and was moderated by actress Go Ah-sung, who serves as the festival's ambassador.During the opening performance, poet Lee Min-ha read a letter and poem dedicated to Heo Su-gyeong, while poets Hong Ji-ho and Kim Ji-sun presented a duet. Singer-songwriter Kwak Joo-na performed an original song inspired by Heo Su-gyeong.Chairman Lee Beom-hun welcomed attendees, stating, "This year's Literature Week 2026: Glance has become a vibrant program connecting readers and literature through collaborations with various organizations and local bookstores. I hope everyone enjoys this five-day literary experience."From September 16 to 20, a total of 38 diverse programs will take place in Daehakro, including Marronnier Park and ARKO spaces.Highlights include 'Ventriloquism in the Air,' featuring the poetic works of world-renowned poet Kim Hye-soon, and a tribute reading where fellow poets will read selections from the debut poetry collection 'Thus, One Day, Love' by Choi Seung-ja, who debuted in 1979. Programs such as 'Kim Ae-ran's Glance' will provide deeper insights into the authors' works. There will also be discussion programs categorized by themes like youth, queer, and Antarctica, as well as workshops for readers to engage with literature.At the ARKO Museum, a picture book exhibition titled 'L’œil du monde' will be held in collaboration with the Modern Children's Book Museum, while Marronnier Park will feature interactive outdoor booths and a book lounge.On the weekend of September 19-20, family-friendly programs will include an educational art program related to the picture book exhibition and a musical gala show by the Blue Lion and Nini, catering to children and youth.The festival will conclude on September 20 with a closing ceremony titled 'In the Case of Novels,' featuring novelist Choi Jin-young, who is celebrating her 20th anniversary since debut, alongside the band 9 and Numbers. This special performance is inspired by Choi's fondness for the band's music while writing her novel 'The Proof of the Sphere.'All major programs during 'Literature Week 2026: Glance' in the Daehakro area are free of charge. Attendees can also participate in programs with remaining seats on-site. Detailed schedules and participation methods can be found on the Literature Week website and official social media.Literature Week is an annual nationwide literary festival organized by ARKO, allowing authors and readers to enjoy literature through readings, discussions, performances, and exhibitions.* This article has been translated by AI. 2026-09-17 09:28:00
  • President Lee Meets IEA Chief to Discuss Energy Supply Chain Cooperation in Asia-Pacific
    President Lee Meets IEA Chief to Discuss Energy Supply Chain Cooperation in Asia-Pacific President Lee Jae-myung will meet with Fatih Birol, the Executive Director of the International Energy Agency (IEA), on September 17 to discuss strengthening the resilience of energy supply chains in the Asia-Pacific region. The meeting is scheduled for 2 p.m. at the Blue House and aims to elaborate on the energy supply chain cooperation proposal that President Lee suggested during the G7 summit in June. This encounter is seen as a step to bolster energy security in the Asia-Pacific region while preparing for supply uncertainties stemming from the Middle East. During their discussions, President Lee and Birol will review the current international energy market and industry trends amid escalating energy and climate crises, including the recent situation in the Middle East and the severe flooding in Nepal. They will also exchange views on enhancing global energy security in the electrification era and explore new directions for energy cooperation in the Asia-Pacific region. Birol has led a coordinated release of 400 million barrels of emergency oil reserves among IEA member countries in response to the energy crisis caused by the conflict in the Middle East. The IEA is also collaborating with South Korea in the areas of energy security and climate change, and they plan to co-host the International Climate Industry Expo starting in 2024. The IEA, established in 1974 in response to the oil crisis of 1973-1974, is an autonomous agency under the Organization for Economic Cooperation and Development (OECD) that coordinates collective responses to energy supply crises. Its scope has expanded beyond oil to include electricity, natural gas, renewable energy, critical minerals, and climate change. South Korea became a member in 2002.* This article has been translated by AI. 2026-09-17 09:24:20
  • SK Telecom Expands Chat+ PC Version for Text Messaging
    SK Telecom Expands Chat+ PC Version for Text Messaging SK Telecom (SKT) is launching a recommendation and installation event for its 'Chat+ PC version' from September 17 to October 16. The Chat+ PC version is a text messaging service developed jointly by SKT and Samsung Electronics. SKT customers using Samsung Galaxy smartphones (models supporting One UI 6.0 and above) can send and receive text messages on their PCs using their existing phone numbers, regardless of whether the recipient is subscribed to the service. SKT is offering a total of 20 million won in prizes as part of the recommendation and installation event. Participants can join by sharing a personalized URL obtained from the event page with new customers. If the referred customer enters the installation event and completes the installation of the PC program and phone synchronization, it will count as a referral. Among customers who refer 15 or more people, prizes will be awarded based on referral performance: first place will receive a Galaxy Z Fold 8 (1 winner), second place will receive a Galaxy Watch Ultra 2 (2 winners), and third place will receive a 100,000 won Naver Pay point mobile coupon (10 winners). Additionally, through a lottery, those who refer 7 or more people will have a chance to win a 50,000 won Olive Young mobile gift certificate (50 winners), those who refer 3 or more will be eligible for a 10,000 won GS25 mobile gift certificate (100 winners), and those who refer at least 1 will have a chance to win a 2,000 won MegaMGC coffee mobile amount (1,000 winners). The installation event is open to new users of the Chat+ PC version. Participants who enter the event and complete the installation and phone synchronization will be eligible for a lottery. Prizes include a Galaxy Book 6 (16-inch) (1 winner), a 500,000 won Shinsegae Department Store gift certificate (2 winners), a 50,000 won Olive Young mobile gift certificate (30 winners), and a 5,000 won GS25 mobile gift certificate (200 winners). The functionality of the Chat+ PC version will also be enhanced. By the end of this month, a 'text style' feature will be added, allowing users to apply text formatting such as bold and italics, as well as schedule messages. Kim Ji-hyung, head of SKT's Digital Platform Business, stated, "The Chat+ PC version is a service that naturally extends the familiar text messaging experience to PCs for our customers. We will continue to enhance the convenience and value that customers can feel in their daily lives."* This article has been translated by AI. 2026-09-17 09:24:00
  • U.S. Rate Hike Strengthens Dollar, Pushing Exchange Rate Above 1370 Won
    U.S. Rate Hike Strengthens Dollar, Pushing Exchange Rate Above 1370 Won The won-dollar exchange rate rose to the upper 1300s following the U.S. central bank's tightening measures.As of 9:05 a.m. on September 17, the exchange rate in the Seoul foreign exchange market was 1377.3 won per U.S. dollar. The rate was trading at 1377.0 won as of 6 a.m., an increase of 8.4 won from the previous day's closing rate of 3:30 p.m.The rise in the exchange rate is attributed to the strong dollar following the Federal Reserve's interest rate hike and hawkish comments from Fed Chair Kevin Warsh.On September 16, the Federal Open Market Committee (FOMC) raised the benchmark interest rate by 0.25 percentage points to a range of 3.75% to 4.00%. This marks the first tightening since July 2023, a span of two years and two months.In a press conference, Warsh emphasized the Fed's commitment to price stability, stating, "Inflation has been too high and persistent for too long."The New York stock market also experienced a decline. The Dow Jones Industrial Average closed down 631.21 points (1.21%) at 51,461.90.The S&P 500 index fell by 33.92 points (0.45%) to close at 7,551.81, while the tech-heavy Nasdaq Composite dropped 3.15 points (0.01%) to finish at 25,978.43.The value of the dollar increased, with the Dollar Index (DXY), which measures the dollar against six major currencies, rising by 0.619% to 100.255, the highest level since July 31.International oil prices fell following news of Saudi Arabia's diversion of oil supplies. November Brent crude futures dropped by 2.69% to $105.83 per barrel, while October West Texas Intermediate (WTI) crude fell by 3.21% to $102.43 per barrel.At the same time, foreign investors were seen selling in the domestic stock market. Early in the trading session, foreign investors had a net sell of 271.7 billion won in the securities market.The exchange rate is expected to rise due to risk-averse sentiment. Min Kyung-won, an economist at Woori Bank, stated, "The strong dollar resulting from the Fed's rate hike and risk aversion will likely exert upward pressure on the exchange rate."He added, "As major currencies trend weaker, the risk-averse sentiment stemming from deteriorating investor confidence is likely to transfer to the won. The influx of offshore long positions following the strong dollar and continued foreign selling in the domestic market will be the main drivers of the exchange rate increase."* This article has been translated by AI. 2026-09-17 09:20:00
  • North Korean leaders sister reiterates absolute nuclear-armed status
    North Korean leader's sister reiterates 'absolute' nuclear-armed status SEOUL, September 17 (AJP) - Kim Yo-jong, the powerful sister of North Korean leader Kim Jong-un on Thursday reiterated that Pyongyang's status as a nuclear-armed state is "absolute" and cannot be reversed by any means. In a statement carried by the state-run Korean Central News Agency (KCNA), Kim dismissed renewed intonational calls for North Korea to abandon its nuclear weapons program, calling them "all noise." She added that no matter how "desperately" the International Atomic Energy Agency (IAEA) and Western countries held meetings and discussed denuclearization, such efforts would have no effect on North Korea's determination to take all necessary measures to defend its supreme interests, referring to them as "familiar rhetoric" that repeats every year. She also warned that anyone seeking to change the country's current status as a nuclear-armed state should recognize that such efforts would be "futile." Her remarks came days after the IAEA's 70th General Conference opened in Vienna, Austria earlier this week, where member states including South Korea and several European countries voiced concern over North Korea's growing nuclear arsenal. They urged Pyongyang to denuclearize in a "complete, verifiable and irreversible" manner in line with the non-proliferation treaty and relevant U.N. Security Council resolutions. Meanwhile, the IAEA's annual gathering wraps up on Friday after a weeklong discussion of a range of issues in the nuclear field among high-ranking officials and representatives from member states. AJP Takeaways - Kim Yo-jong reiterated North Korea's nuclear-armed status is "absolute" and said it cannot be reversed, rejecting international calls for Pyongyang to abandon its nuclear weapons program. - Kim Yo-jong dismissed denuclearization efforts by the International Atomic Energy Agency (IAEA) and Western countries as recurring "familiar rhetoric," saying they would not affect North Korea's determination to defend its stated national interests. - The remarks followed the International Atomic Energy Agency's 70th General Conference in Vienna, where South Korea and several European countries raised concerns about North Korea's growing nuclear arsenal and called for complete, verifiable and irreversible denuclearization in line with the Non-Proliferation Treaty and relevant U.N. Security Council resolutions. 2026-09-17 09:18:54
  • Bank of Korea Warns of Tightening U.S. Federal Reserve Monetary Policy
    Bank of Korea Warns of Tightening U.S. Federal Reserve Monetary Policy Bank of Korea Vice Governor Kwon Min-soo stated on September 17 that the U.S. Federal Reserve's monetary policy is expected to remain tight in the future.Kwon made the remarks during a market situation review meeting related to the Federal Open Market Committee (FOMC) regular meeting held earlier that day, noting that the FOMC raised the policy interest rate as the market anticipated.During the FOMC meeting on September 15-16 (local time), the Federal Reserve raised the policy interest rate by 25 basis points (1 basis point = 0.01 percentage points), as expected by the market. The Summary of Economic Projections (SEP) indicated an upward revision in growth and inflation forecasts, along with an increase in the projected policy interest rate (dot plot). Of the 18 committee members who submitted the dot plot, 16 predicted a 25 basis point rate hike by the end of this year.Kwon noted, "With the Fed raising rates for the first time in over three years since July 2023, and considering Chair Powell's emphasis on price stability and hints at further rate increases, we expect the Fed's monetary policy to remain tight going forward."He added, "External risk factors persist, including the situation of the Middle East conflict affecting international oil prices, concerns over fiscal soundness in major countries, and uncertainties related to the artificial intelligence (AI) industry. With monetary policy decisions from major countries like Japan and the UK scheduled for this week, we will closely monitor the domestic financial and foreign exchange market conditions with heightened vigilance."* This article has been translated by AI. 2026-09-17 09:16:00
  • Korea Investment & Securities Maintains Target Price of 180,000 Won for Lotte Shopping
    Korea Investment & Securities Maintains Target Price of 180,000 Won for Lotte Shopping Korea Investment & Securities on September 17 maintained a target price of 180,000 won and a "buy" rating for Lotte Shopping, highlighting the momentum in the retail sector, including supermarkets and department stores. Analyst Kim Myung-joo stated, "Sales at domestic department stores have grown by 9-10% compared to the same period last year, which is better than market concerns." He added that Lotte Shopping's discount stores are expected to show the strongest growth among its retail channels, with Lotte Mart projected to achieve around 22% growth year-on-year due to the adjustments at Homeplus stores. Kim estimated that Lotte Shopping's revenue for the third quarter will increase by 9.1% year-on-year to 3.7205 trillion won, while operating profit is expected to rise by 32.7% to 173.2 billion won. He noted that while sales from department stores and discount stores meet market expectations, the online division and Lotte Hi-Mart may fall short of those expectations. Kim assessed that Lotte Shopping's valuation remains attractive, and the outlook for the market after Chuseok is positive. He explained, "After a sharp decline in stock prices following the second-quarter results, the valuation attractiveness has increased, and the momentum in the discount store sector is becoming more pronounced. After the risks associated with increased outbound travel are fully reflected, the momentum in the department store sector may also resurface." However, he cautioned that exchange rate fluctuations could pose a risk. Kim emphasized, "If the stabilized value of the won returns to a trend of strengthening (a decrease in the exchange rate), increased outbound demand could lead to a decline in domestic traffic at department stores, as well as a decrease in sales from foreign customers at those stores." * This article has been translated by AI. 2026-09-17 09:12:20
  • Fed Raises Interest Rate by 0.25%, Dollar Rises and Stocks Fall
    Fed Raises Interest Rate by 0.25%, Dollar Rises and Stocks Fall The U.S. Federal Reserve has raised its benchmark interest rate by 0.25 percentage points. The dot plot, which reflects the rate outlook of Fed officials, also indicated the possibility of another increase later this year. As a result of the stronger-than-expected tightening stance, U.S. Treasury yields and the dollar rose, while the New York stock market declined, reflecting a hawkish outcome in the financial markets.According to the International Financial Center on September 17, the Fed decided at its September Federal Open Market Committee (FOMC) meeting to raise the target range for the federal funds rate to 3.75-4.00%, an increase of 0.25 percentage points from the previous level. The Fed explained that while there are some uncertainties due to geopolitical factors, the U.S. economy is expanding at a solid pace, and inflation remains high, which justified the rate hike.The outlook for future rate increases has also risen. The dot plot showed that the median forecast for the federal funds rate at the end of the year was raised from 3.8% to 4.1%, an increase of 0.3 percentage points. Among the 18 committee members, 12 expect the year-end rate to be between 4.00% and 4.25%. Considering that the current upper limit of the federal funds rate is 4.00%, this suggests the possibility of another increase this year.As the potential for prolonged tightening became apparent, the U.S. financial markets reacted immediately. On September 16, the yield on the U.S. 10-year Treasury note rose by 2 basis points to 5.02%. The dollar index also climbed 0.70% to 100.31. In contrast, the euro and yen fell by 0.68% and 0.74%, respectively.Stock markets showed mixed results. The S&P 500 index fell 0.45% amid assessments that the FOMC outcome was more hawkish than expected. The volatility index (VIX), which reflects market anxiety, rose 14.17% to 17.16.Conversely, the European Stoxx 600 index increased by 0.46%, benefiting from easing inflation concerns due to falling oil prices. Japan's Nikkei 225 index rose 0.69%, and South Korea's KOSPI gained 1.37%. This indicates that the impact of the U.S. rate hike did not lead to a simultaneous decline across global stock markets.In the commodities market, both international oil and gold prices fell. Brent crude oil dropped 2.69% to $105.83 per barrel. Although prices remain above $100 per barrel, expectations for the normalization of oil transport in Saudi Arabia were reflected in the decline. Gold prices fell by 2.85% to $4002.4 per ounce.However, there are forecasts that the rise in interest rates may not lead to a long-term decline in U.S. stocks. Bloomberg noted that strong corporate earnings forecasts, particularly in the tech sector, are supporting the market, and liquidity indicators suggest that the stock market can withstand a certain level of rate increases.The future direction of global financial markets is expected to depend on the number of additional rate hikes by the Fed, the degree of inflation moderation, and the persistence of high oil prices. Analysts suggest that if the Fed continues tightening to control inflation, upward pressure on U.S. Treasury yields and the dollar may persist.* This article has been translated by AI. 2026-09-17 09:12:10