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  • Samsungs $110 Billion Shareholder Return Fails to Boost Stock Price
    Samsung's $110 Billion Shareholder Return Fails to Boost Stock Price Samsung Electronics announced a record $110 billion shareholder return plan, but the stock market reacted negatively. Following the announcement, the stock price fell to around 260,000 won, while competitor SK Hynix performed relatively well, prompting retail investors to lament, "Should we sell Samsung and buy SK Hynix?"Previously, Samsung announced it would increase its shareholder return to between 90 trillion and 110 trillion won by 2026. This figure significantly exceeds previous records, yet the stock price moved in the opposite direction.The issue lies in the market's expectation for large-scale share buybacks and cancellations rather than simple cash dividends. Share buybacks reduce the number of shares in circulation, thereby increasing the per-share value for existing shareholders.While the unprecedented shareholder return is a positive development, the stock price had already reflected some of this optimism, leading to profit-taking that contributed to the decline.Comparing with SK Hynix clarifies the reasons for Samsung's weakness. SK Hynix has established a strong competitive position in the AI semiconductor market, particularly in high-bandwidth memory (HBM), generating expectations for performance and growth.In contrast, Samsung operates across various sectors, including memory, foundry, smartphones, and home appliances. While a diverse portfolio is advantageous, the current market focus on AI semiconductors has led to higher valuations for SK Hynix, which directly showcases HBM growth potential.As a result, investor interest has shifted from "How much will Samsung return to shareholders?" to "How much more can we earn from AI semiconductors?"Even Samsung's preferred shares, which offer attractive dividend yields, are unlikely to see independent price increases without a reevaluation of the company's value. Experts identify key factors that will determine the future rebound of Samsung's stock price: the recovery of competitiveness in next-generation AI memory technologies like HBM4, the specific proportion of share buybacks within the 110 trillion won shareholder return, and the influx of foreign investment along with improvements in foundry performance.The era of relying solely on the massive figure of 110 trillion won to support stock prices is over. The current stock market demands not just simple cash returns from Samsung but compelling evidence of "overwhelming growth" that can dominate the AI era.* This article has been translated by AI. 2026-08-24 15:20:00
  • Lets Run Park Busan-Gyeongnam Certifies First Therapy Animals
    Let's Run Park Busan-Gyeongnam Certifies First Therapy Animals Let's Run Park Busan-Gyeongnam is expanding its healing programs that utilize the bond between horses and people.On August 23, the Korea Racing Authority announced that two miniature ponies, 'Kkamangi' and 'Ddoi,' have recently received certification as 'therapy animals' from the Korean Association of Animal-Assisted Therapy. This marks the first time animals affiliated with the Korea Racing Authority have achieved this certification.Therapy animals undergo a selection, training, and evaluation process to be used in animal-assisted therapy. They help users achieve emotional stability and physical development under the guidance of animal-assisted therapy counselors.Kkamangi and Ddoi passed three assessments: an aggression evaluation to check their reactions to physical contact and sudden movements, a sociability assessment to evaluate their friendliness towards people and other animals, and a suitability assessment to determine their adaptability to training.Before being deployed, they underwent 3 to 4 months of taming training. The two ponies have participated in horse therapy and parenting-friendly programs at Let's Run Park Busan-Gyeongnam, interacting with over 4,300 visitors from last year until July of this year.A representative from the Korea Racing Authority stated, "Horses that are uncomfortable with human contact cannot be involved in interaction activities. The official certification verifies the horses' temperaments, which is significant for creating a safe healing environment."Let's Run Park Busan-Gyeongnam plans to utilize Kkamangi and Ddoi in horse-assisted therapy programs for users with physical disabilities, developmental disorders, and mental health issues, while also expanding related social contribution activities. Capture the Race: 'Horse Selfie' Photo ContestLet's Run Park Busan-Gyeongnam will hold a photo contest titled 'Capture the Race' in conjunction with the '3rd Gangseo District Mayor's Cup' race on September 11.Participants can register until September 2, and anyone interested in photography and horses can join using personal cameras or smartphones. Among those who wish to take close-up shots, 10 will be selected by lottery to photograph the race from a designated area near the finish line. Other participants will be able to take photos from areas near the podium.Each participant may submit one entry, which will be judged based on theme relevance, quality, and dynamism. Two winners will receive framed photos of their winning shots along with autographs from the winning jockey on the day of the event.13 Days of Summer Water Fun: Family Programs OfferedPreviously, Let's Run Park Busan-Gyeongnam operated the 'SUN Water Festival' for a total of 13 days from July 4 to August 17, primarily on weekends.This year, new attractions included snowman climbing, bubble pools, and fountain tunnels, with an admission fee of 5,000 won. Let's Run Park officials stated that the event was organized as a program for family visitors during the summer.A representative from Let's Run Park Busan-Gyeongnam remarked, "We will continue to create fun programs for a diverse audience, striving to establish ourselves as a go-to destination for everyone."* This article has been translated by AI. 2026-08-24 15:16:20
  • Satisfaction Among Jeonnam Residents Rises to 6.9 Points, Medical Wait Times Remain a Concern
    Satisfaction Among Jeonnam Residents Rises to 6.9 Points, Medical Wait Times Remain a Concern Recent surveys indicate that residents of Jeonnam have experienced a steady increase in life satisfaction over the past four years. While positive perceptions of marriage and children have risen, challenges remain in the medical sector, particularly regarding wait times for treatment and a shortage of specialized medical personnel. The Jeonnam Gwangju Integrated Special City announced the results of the '2026 Jeollanam-do Social Survey' on the 24th. The survey was conducted from March 6 to 18, targeting 19,116 households with members aged 15 and older in the Jeonnam region. It examined residents' living conditions and social needs across 12 categories, including family, income, consumption, labor, education, and health care. The results showed that life satisfaction scored 6.9 out of 10, an increase from 6.6 in 2022 and 6.8 in 2024, marking a 0.1-point rise this year. The proportion of respondents expressing positive feelings about their 'satisfaction with life,' 'satisfaction with local living conditions,' and 'frequency of happiness' also increased compared to the 2024 survey. In the family category, there was a slight increase in positive perceptions of marriage and children. The response rate for 'marriage is necessary' rose to 60.6%, up 0.8 percentage points from 2024, while the belief that 'having children is important' increased by 1.3 percentage points to 66.5%. The number of first marriages also showed an upward trend, with first marriages in Jeonnam rising from 4,279 in 2023 to 5,246 in 2024, and reaching 5,523 last year. In the income and consumption category, the consumer price index was recorded at 117.54 last year. The inflation rate decreased from 3.5% in 2023 to 2.5% in 2024, and further to 2.2% last year, indicating a slowdown in price increases. In education, both private education expenses and participation rates declined. Last year, the average monthly private education expense per student in Jeonnam was 309,000 won, down 11,000 won from the previous year. The participation rate in private education also fell by 3.6 percentage points to 68.1%, with both expenses and participation rates below the national average. Among school levels, the average monthly private education expense was highest for general high school students at 342,000 won, while elementary school students had the highest participation rate at 80.7%. In the health and medical sector, the number of medical institutions and personnel increased, and service satisfaction saw a slight rise. Last year, the number of medical institutions grew by eight, and the number of medical personnel increased by 433. This year, satisfaction with medical services reached 3.5 points, up 0.1 points from 2024. However, the main factors contributing to dissatisfaction with medical services were 'waiting times for treatment and hospitalization,' which accounted for 22.9%, followed by 'shortage of specialized medical personnel' at 13.9%. Although satisfaction with medical services has improved, reducing wait times and increasing the number of specialized medical personnel remain critical issues to address. Son Myung-do, the policy planning director of Jeonnam Gwangju Integrated Special City, stated, "The results of the social survey indicate an overall improvement in residents' quality of life, but there are still challenges that need to be addressed at the integrated special city level, such as improving medical services. We will use residents' feedback as foundational data for policy development to implement policies that the local community can truly feel."* This article has been translated by AI. 2026-08-24 15:12:00
  • Lee Tae-hoon Ties for Fifth at LIV Golf Season Finale
    Lee Tae-hoon Ties for Fifth at LIV Golf Season Finale Lee Tae-hoon, a Canadian-Korean golfer, finished tied for fifth at the LIV Golf season finale.On August 24, in the final round of the Indianapolis tournament held at The Club at Chatham Hills in Westfield, Indiana, Lee recorded seven birdies without any bogeys, finishing with a score of 7-under 63.With a total score of 15-under 265, Lee concluded the tournament in a tie for fifth place. This marks his second top-five finish of the season, following a runner-up finish at a tournament in Singapore in March.Lee joined LIV Golf as a wildcard after winning a promotion event ahead of the 2026 season. He did not participate in the team competition.The tournament was won by Michael LaSasso of the United States, who finished with a total score of 18-under 262, edging out second-place Jon Rahm of Spain, who scored 17-under 263.LaSasso, who made his LIV Golf debut this year, secured his first victory at this tournament, earning a prize of $2 million (approximately 27.7 billion won).Bryson DeChambeau and Sergio Garcia both finished tied for third with a total score of 16-under 264.Song Young-han finished tied for 12th with a total score of 11-under 269, while An Byeong-hun placed tied for 17th at 10-under 270. Moon Do-yeop finished tied for 39th at 4-under 276, and Kim Min-kyu ended tied for 45th at 2-under 278.LIV Golf planned to conclude the season with the Team Championship starting on August 28 in Michigan. However, due to financial difficulties, the Team Championship has been canceled, making the Indianapolis tournament the season finale.The Saudi Arabian Public Investment Fund (PIF) has decided to cease financial support for LIV Golf after this year, leaving the league's future uncertain.* This article has been translated by AI. 2026-08-24 15:08:20
  • K-Beauty Boom Boosts Packaging and Paper Industries
    K-Beauty Boom Boosts Packaging and Paper Industries As the global K-beauty trend surges, manufacturers of cosmetic packaging and suppliers of boxes and labels are experiencing significant gains. Both sectors reported record earnings in the second quarter, benefiting from strong 'spillover effects.'According to the Financial Supervisory Service's electronic disclosure system, Pumtech Korea, a cosmetic packaging company, recorded sales of 116.8 billion won and an operating profit of 21.7 billion won in the second quarter. These figures represent increases of 10.8% and 11.4%, respectively, compared to the same period last year, marking the highest quarterly performance to date. This growth is attributed to rising demand driven by the global K-beauty craze and expanded supply from facility upgrades.Yeonwoo also reported a successful turnaround, achieving an operating profit of 7 billion won in the second quarter, with sales rising by 28.9% to 91.1 billion won. The company's high export ratio, combined with the popularity of K-beauty, has contributed to its improved performance.The paper industry, which produces specialty paper and industrial paper used in cosmetic packaging, is also reaping the benefits of the K-beauty boom.Hansol Paper reported an operating profit of 50.8 billion won in the second quarter, a staggering increase of 162.8% year-on-year, with sales rising by 4.9% to 592.7 billion won. Growth in the industrial and specialty paper sectors has driven overall profitability improvements, with industrial paper sales reaching 152.8 billion won (up 10.1%) and specialty paper sales at 213.5 billion won (up 18.8%).Korea Paper also saw its operating profit rise to 4.7 billion won, a 131.9% increase from the previous year, with sales climbing 14.8% to 220.4 billion won. The recovery in its core printing paper business, along with a return to profitability in its packaging division, has bolstered its performance.Industry experts predict that the boom in K-beauty, which is expanding beyond Asia and North America into Europe, the Middle East, and South America, will continue to benefit the packaging and paper sectors. According to the Ministry of Trade, Industry and Energy, K-beauty exports reached a record high of $6.978 billion in the first half of this year. In July, exports grew by 37.8% year-on-year to $1.351 billion, driven by the expansion of offline distribution networks in the U.S. and Europe.Han Yong-hee, a researcher at Growth Research, stated, "As K-beauty grows, the benefits for packaging companies are also evolving. The simultaneous expansion of export regions, distribution networks, and product lines is spreading throughout the K-beauty value chain, necessitating a broader focus on related companies."* This article has been translated by AI. 2026-08-24 15:04:10
  • Foreign Card Sales Surge in South Korea, Concentrated Among Top Retailers
    Foreign Card Sales Surge in South Korea, Concentrated Among Top Retailers As the number of foreign visitors to South Korea rises, the country's foreign card sales are rapidly increasing. However, a significant portion of this spending is concentrated in specific sectors, such as dermatology and Olive Young, indicating that the benefits of foreign consumer spending are not evenly distributed across traditional markets and local businesses. On August 24, Korea Credit Data (KCD) analyzed approximately 328,000 merchants linked to Cashnote with foreign card payment histories. The data revealed that foreign card sales in June 2023 increased 9.6 times compared to January 2023. The share of foreign card sales in total card sales also grew sixfold during the same period, from 0.2% to 1.2%. The benefits of increased foreign spending are concentrated among a small number of merchants. The top 1% of merchants accounted for 66.9% of total foreign card sales. When expanding the scope to the top 10%, their share reached 90%. In contrast, the bottom 90% of merchants received only 10% of the total foreign card sales. Foreign spending is particularly focused on the beauty, medical, dining, and retail sectors. Further analysis of the top 1% of foreign card merchants by KCD showed that the service industry represented the largest share at 53.8%. Dining followed at 28.3%, and retail accounted for 14.8%. Within the service sector, dermatology made up 46.0%, while plastic surgery represented 15.7%. The high average spending in the beauty and medical sectors has contributed to the increased sales for certain merchants. The average foreign customer spending in the service sector was 166,000 won, which is 3.5 times higher than the 47,000 won spent by domestic customers. In the health and medical sector, the average spending by foreigners was approximately eight times that of locals. In retail, foreign spending is concentrated in specific stores like Olive Young and Daiso, located in major tourist areas such as Myeongdong and Hongdae. Among Seoul's key commercial districts, the highest foreign card sales were recorded in Myeongdong, Namdaemun, and the area around Sinnonhyeon Station, followed by Gangnam Station, Hongdae, Yeonnam-dong, and Itaewon. On August 19, a reporter observed that 100 customers entered the Olive Young Myeongdong Town and 107 entered the Daiso Myeongdong flagship store within 10 minutes. Both stores were bustling with foreign tourists. An Olive Young representative noted that some Chinese tourists spend up to 2 million won in a single transaction. However, the benefits of foreign spending have not sufficiently reached traditional markets and local businesses. While foreign card sales accounted for 13.9% of total sales in tourist special zones, they only represented 2.5% in traditional markets and 1.4% in local business districts. Experts suggest that to expand foreign consumer spending into traditional markets and local areas, improvements in multilingual guidance and overseas payment infrastructure are necessary. Shin Hak-seung, a professor of tourism at Hanyang University, stated, “One of the main motivations for foreign tourists visiting Korea is their interest in Korean pop culture and lifestyle formed through K-culture. To spread foreign tourist spending to traditional markets and local areas, it is essential to enhance awareness of these areas and improve service reliability, as well as the convenience of payment methods like foreign cards and mobile payments.” * This article has been translated by AI. 2026-08-24 15:04:00
  • U.S. Warns of Economic Day of Reckoning for Iran Amid Tensions
    U.S. Warns of Economic Day of Reckoning for Iran Amid Tensions Amid stalled negotiations over the Strait of Hormuz, the United States has announced an unprecedented economic and financial offensive against Iran. U.S. Treasury Secretary Scott Besant warned of an 'economic D-Day' aimed at fully isolating Iran's economy, stating that countries providing financial, oil, or transportation support to Iran will face significant economic consequences. In response, Iran has threatened to consider any nation that joins or supports the U.S. economic war as engaging in hostile acts, potentially blocking oil exports from the Gulf region altogether.In a commentary published in the Financial Times on August 23, Besant stated, "The economic D-Day will begin at dawn," emphasizing that it will be the strongest financial offensive ever mobilized against adversaries. According to CNBC, Besant is set to hold a press conference on August 24 at 2 p.m. Eastern Time (3 a.m. August 25 Korean time) to announce what he described as "the harshest sanctions in history" against Iran.Besant claimed that Iran's military capabilities and nuclear program have been significantly weakened due to military pressure from President Donald Trump and U.S. forces, and that it is now time to maximize economic and financial pressure on Iran. He highlighted that the core of this strategy is to achieve Iran's financial and economic isolation, which would reduce the need for U.S. military intervention while expanding the freedom of allied nations. He also warned of secondary sanctions against countries providing economic support to Iran. Previously, President Trump had cautioned that financial institutions, businesses, airports, and government agencies providing any form of 'lifeline' to Iran would incur substantial economic costs.Iran Threatens Oil BlockadeIn response to U.S. pressure, Iran is poised to use oil as a weapon. Iran has already effectively blocked the Strait of Hormuz and is signaling that it may also shut down other major oil export routes in the Middle East. Mohsen Rezaei, head of Iran's Supreme National Security Council, stated on social media platform X that "if the economic war continues, not a single drop of oil will be exported from the Strait of Hormuz or anywhere else in the Persian Gulf." He also warned that actions by countries participating in or supporting the U.S. economic war would be considered acts of 'war' against Iran. In a previous interview with state media, Rezaei indicated that if the U.S. takes further action, Iran would retaliate on a "massive scale," suggesting the possibility of attacks on oil export routes beyond the Strait of Hormuz.Iran's threats pose a dilemma for President Trump. If the U.S. engages in an economic war targeting Iran's oil exports, there is a risk that Iran could actually threaten oil supplies in the Gulf region, leading to a spike in international oil prices. This is particularly concerning as the U.S. has already begun imposing a 50% tariff on Canadian products, and a rise in oil prices could exacerbate inflation, potentially becoming a critical issue for the Trump administration with midterm elections less than three months away. Additionally, the success of sanctions relies heavily on the participation of neighboring countries, and signals from key pro-Iran nations like China and Russia indicate they will not join the U.S. sanctions, adding to the pressure on the U.S.However, the situation is not entirely favorable for Iran either. Iran has struggled with oil exports under U.S.-led economic sanctions, facing skyrocketing prices and shortages of essential goods, leading to a severely weakened economy. Mahdi Godzi, a researcher at the Vienna Institute for International Economic Studies, stated, "As long as Iran does not reach an agreement with the U.S., the war will continue, which will have a greater impact on Iran than on the regional or global economy," according to the New York Times (NYT).Possibility of Diplomatic SolutionsIn this context, efforts to seek a diplomatic solution are ongoing. General Asim Munir, the Chief of Army Staff of Pakistan, who has played a key mediating role in the ceasefire negotiations between the U.S. and Iran, is set to visit Tehran on August 24. Munir was instrumental in the signing of a memorandum of understanding (MOU) between the U.S. and Iran in June and has communicated directly with President Trump.Iranian President Masoud Pezeshkian has not completely ruled out the possibility of negotiations. He emphasized that the MOU signed with the U.S. in June represents the best agreement to end the war, noting that attracting foreign investment is difficult in the current state of 'neither war nor peace.' He previously stated, "It is better to end the war now that we have strength and dignity."As the U.S. and Iran move toward economic warfare instead of military conflict, August 24 is expected to be a pivotal date for the future dynamics between the two nations and the broader Middle East.* This article has been translated by AI. 2026-08-24 15:04:00
  • Retirement Pension Transfers Reach 15.9 Trillion Won as Financial Supervisory Service Pushes for DC to IRP Transfers
    Retirement Pension Transfers Reach 15.9 Trillion Won as Financial Supervisory Service Pushes for DC to IRP Transfers The use of retirement pension transfer services is rapidly increasing, prompting financial authorities to enhance the service by allowing inter-system transfers.The Financial Supervisory Service (FSS) announced on August 24 that it held a kickoff meeting for the 'Retirement Pension Transfer Improvement Task Force (TF)' with 17 institutions, including the Korea Securities Depository, the Korea Financial Investment Association, and retirement pension providers, to discuss improvement tasks.Retirement pension transfers allow participants to change their retirement pension provider without selling or terminating their existing investment products. Since its implementation on October 31, 2024, it has expanded participants' choice of providers and promoted competition among them.However, the current transfer process is limited to within the same system. Transfers can only occur from DB to DB, DC to DC, or IRP to IRP, making it difficult for DC participants to transfer to another provider's IRP. Accounts holding funds that have been suspended from redemption are also restricted from transferring.Additionally, the requirement to record participants' consent during the transfer process has led to delays. When transfer requests are canceled or denied, participants do not receive specific reasons, resulting in complaints and highlighting the need for process improvements.The FSS plans to address these inconveniences through the TF. Initially, it will work on developing systems to allow transfers from DC to other providers' IRPs and discuss including suspended redemption funds in the list of transferable products.The method of confirming participants' consent will also be improved. In addition to recording, the FSS will establish secure methods to verify participants' transfer intentions and ensure that specific reasons are provided when requests are canceled or denied.The FSS aims to finalize specific improvement directions by September and begin system development in October. The TF will operate until 2027 to promote system enhancements.According to the FSS, the cumulative amount of transfers reached 15.9 trillion won by the end of June 2026. The number of transfers totaled over 250,000, averaging 26.1 billion won and 409 transfers per day.Notably, the transfer volume in the first half of this year was 6.9 trillion won, more than double the 3.2 trillion won recorded in the same period last year. The semiannual transfer volume has expanded from 1.9 trillion won in the second half of 2024 to 3.2 trillion won in the first half of 2025, 3.8 trillion won in the second half of 2025, and 6.9 trillion won in the first half of this year.By region, transfers from banks to securities firms accounted for 5.2 trillion won, or 33% of the total. Transfers between banks also amounted to 4.5 trillion won, representing 28%. This indicates active changes among providers within the banking sector alongside the movement of funds to securities firms.By system, the transfer volume for Individual Retirement Pension (IRP) was the highest at 6.8 trillion won, followed by Defined Contribution (DC) at 4.8 trillion won and Defined Benefit (DB) at 4.3 trillion won. The trend shows that DC and IRP funds are moving from banks and insurance companies to securities firms, while DB funds are shifting from securities firms to banks and insurance companies.The FSS stated, “As the use of retirement pension transfer services expands, we will continue to improve the systems and procedures to ensure participants can use the services more conveniently.”* This article has been translated by AI. 2026-08-24 15:04:00
  • Kim Se-hoon: Two Months into His Tenure as Hwacheon County Mayor
    Kim Se-hoon: Two Months into His Tenure as Hwacheon County Mayor Kim Se-hoon has been in office as the mayor of Hwacheon County for nearly two months. Although this is a short period, his actions have been swift. He has been busy with meetings, events, visits to central government offices, and inspections of project sites, while also making time to meet with residents. His social media account, 'Government Diary,' is filled with daily schedules. According to those around him, this is not the entirety of his agenda. He reportedly tries to meet with residents and organizations that request a meeting whenever possible. While it is too early to evaluate his achievements after two months in office, signs of change are emerging throughout the county administration. From the beginning of his tenure, Kim has emphasized 'income.' He is pursuing plans to connect rural basic income, tourist spending to the local economy, and agricultural, tourism, and forest resources to increase residents' income. A 'Half-Price Travel' initiative, which will return a portion of tourists' travel expenses in local currency, is set to launch in September. Additionally, efforts are underway to attract a national natural recreation forest and develop forest tourism projects, including arboretums and botanical gardens. New initiatives are also emerging in education, welfare, and sports. However, it is premature to judge success based solely on policy announcements and project launches. It will take time for these initiatives to translate into tangible changes that residents can feel. Nonetheless, there is a palpable sense of anticipation in the community. At the 2026 Hwacheon Tomato Festival, local leaders and residents expressed that Kim seems to be genuinely trying to implement many initiatives for the future development of Hwacheon since taking office. During the festival preparations, Kim was reported to have meticulously ensured visitor safety and convenience, overseeing even the smallest details of event operations. Public officials also maintained a sense of urgency by repeatedly checking the site, reflecting Kim's proactive and detail-oriented administrative style. However, there are concerns about the potential burden on the administrative organization due to his drive and attention to detail. Some in the community have expressed caution, questioning whether he is taking on too many projects at once and emphasizing the need to wait for results. As observed by the reporter, one concern arises from Kim's relentless schedule, which sometimes shows on his face and in his voice, suggesting fatigue. The mayor's health is not just a personal issue; as the leader responsible for Hwacheon's administration for the next four years, his well-being and stamina are crucial for effective governance. It is more important to maintain steady performance throughout his term than to rush through each day. Kim has often shared with those around him that he has many aspirations for his hometown of Hwacheon. While he previously faced limitations in decision-making and implementation, he is now in a position to set direction and be accountable for results. With increased capability comes greater responsibility. The key lies in direction and outcomes rather than speed. Simply being active does not guarantee effective governance. The stronger the leader's drive, the more essential it is to ensure thorough review within the administrative organization, convey differing internal opinions, and listen to dissenting voices from the field. Meeting with residents is similarly important. It is not about how many people he meets but how much of what he hears on the ground is reflected in policy. Field administration should be evaluated based on results, not the frequency of visits. Hwacheon's reality is challenging. The region faces population decline, economic stagnation, and structural limitations due to its border area status. Improvements in tourism, agriculture, job creation, and living conditions must be addressed, along with changes in military base conditions and various regulations. These are not issues that the mayor can resolve alone; collaboration among the public sector, county council, and community is essential. An old saying goes, 'A journey of a hundred miles begins with a single step.' This means that to achieve a goal, one must maintain focus until the very end. The first two months of Kim's tenure are just the beginning of a long journey. It remains uncertain whether the signs of change and community expectations will translate into actual results. Policies must lead to projects that ultimately improve residents' income, create jobs, boost the local economy, and enhance the quality of life for the community. What is needed is not just speed but also direction and sustainability. At times, it is crucial to slow down to assess ongoing initiatives and, above all, to maintain the stamina necessary to fulfill a four-year term. Kim Se-hoon is at the helm of Hwacheon, steering the ship. Reaching the destination requires more than just rowing quickly; it necessitates accurate direction and listening to the voices of those on board. The authority granted to the mayor is a responsibility entrusted by the residents for four years, and he must be accountable for the outcomes. A journey of a hundred miles begins with a single step. Kim Se-hoon's four-year term has just begun. What matters now is not how fast he runs. Four years from now, when he hands over the helm, how far will Hwacheon have progressed? The answer will not come from the mayor or those around him but will ultimately be reflected in the lives of the residents.* This article has been translated by AI. 2026-08-24 15:00:10
  • Cosmax and Hyundai Home Shopping Form Beauty Alliance to Target Personalized Beauty Market
    Cosmax and Hyundai Home Shopping Form 'Beauty Alliance' to Target Personalized Beauty Market Global cosmetics manufacturer Cosmax is partnering with Hyundai Home Shopping to develop personalized beauty products.On August 24, Cosmax announced that it has signed a memorandum of understanding (MOU) with Hyundai Home Shopping for the joint development of customized beauty products. The signing ceremony, held on August 20 at Hyundai Home Shopping's headquarters in Gangdong-gu, Seoul, was attended by key officials from both companies, including Cosmax CEO Lee Byeong-joo and Hyundai Home Shopping CEO Han Kwang-young.The agreement aims to enhance the competitiveness of Hyundai Home Shopping's offline beauty concept store, Coasis, and to expand the ultra-personalized cosmetics market.The two companies will collaborate to develop new products by utilizing Cosmax's research and development capabilities and manufacturing technology. Cosmax will handle the production of exclusive products based on customized solutions, while Hyundai Home Shopping will manage product planning, design, distribution, and marketing.The first jointly developed products will utilize Cosmax's personalized beauty platform, BYNIQ. The companies plan to launch two high-functionality skincare products by the end of this year and gradually expand the range of customized products thereafter.The new products will initially be sold through Coasis's exclusive product line, Only Coasis, at all locations. Sales will later be expanded to Hyundai Home Shopping's online and offline channels, including TV live and mobile live commerce.Lee Byeong-joo, CEO of Cosmax, stated, "Through close collaboration, we will quickly respond to market and technological changes and create a partnership that fosters mutual growth for both companies."Meanwhile, Cosmax reported a consolidated operating profit of 73.7 billion won for the second quarter of this year, a 21.3% increase compared to the same period last year. During the same period, sales rose by 27.5% to 794.9 billion won, while net profit surged by 129.0% to 50 billion won.* This article has been translated by AI. 2026-08-24 15:00:00