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  • Chinas Foreign Direct Investment Drops 6% to 438.3 Billion Yuan in First Half of 2026
    China's Foreign Direct Investment Drops 6% to 438.3 Billion Yuan in First Half of 2026 The Chinese Ministry of Commerce announced that foreign direct investment (FDI) in China totaled 438.3 billion yuan (approximately 10.36 trillion yen) from January to July 2026, a decrease of 6.2% compared to the same period last year. This decline is 1.2 percentage points larger than the drop recorded from January to June.Investment in the manufacturing sector reached 109.4 billion yuan, while the service sector attracted 319.9 billion yuan. Compared to the previous year, manufacturing investment fell by 9.6%, and service sector investment decreased by 4.8%.In contrast, investment in high-tech industries surged by 32.7% to 182.3 billion yuan, accounting for 41.6% of total FDI, an increase of 12.2 percentage points from the previous year. Notably, research and development (R&D) and design services saw a 72.1% increase, technology transfer services rose by 62.2%, and manufacturing of electronic and telecommunications equipment grew by 39.9%.Regionally, investments from Saudi Arabia increased by 4.4 times, while France's investment rose by 36.1%, and South Korea's investment grew by 15.8%.From January to July, the number of newly established foreign-invested enterprises increased by 4.4% to 37,711.* This article has been translated by AI. 2026-08-24 13:56:00
  • Samsung Cultural Foundation Launches Korean Traditional Music Project
    Samsung Cultural Foundation Launches Korean Traditional Music Project The Samsung Cultural Foundation announced on August 24 that it will host a total of eight performances of the 'Korean Traditional Music Project' from August 29 to September 20 at the Leeum Museum in Hannam-dong and the cultural complex Sounds S.This project aims to provide an opportunity to experience traditional music as a living art form in contemporary times.Jang Young-kyu serves as the artistic director. He is the leader of the band 'Ihnalchi,' which sparked a sensation in traditional music with the song 'Beom Naeryeonda,' and is also the music director for the drama 'Jeongnyeon-i,' for which he received an artistic award at the Baeksang Arts Awards. In 2022, he presented a sound installation work titled 'Jang Young-kyu: Chujongja' at the Leeum Museum, utilizing audio from a pansori transmission process. Drawing on years of exploration into traditional music methodologies, he has planned a stage that allows for a more relaxed and innovative encounter outside of conventional theaters.The performances will consist of the 'The Authority' series, which highlights artists who have set the standards for Korean traditional music, and the 'The Signature' series, which introduces contemporary musicians who are creating their own musical expressions based on tradition.The 'The Authority' series, held in the auditorium of the Leeum Museum, will reflect on the standards of traditional music today through the music of Buddhist monk Dong-hee, pansori master Jeong Hoe-seok, gayo master Kim Young-ki, and women's national theater actress Jo Young-sook. The term 'Eosan Eojang' refers to the highest authority in Buddhist ceremonial music, known as Beompae.Additionally, the 'The Signature' series at Sounds S will showcase musicians who are cultivating their own worlds, including singer Ija-ram, women's national theater actress Park Soo-bin, female singer Lee Hyun-a, and Beompae monk Jeong-gak.The venues will also feature a newly created atmosphere for listening to music. Modern artist Yoon Hyang-ro's works will be used for stage design, and lighting designer Seo Ga-young will collaborate to create an immersive environment for enjoying the music.Furthermore, artistic director Jang Young-kyu and electronic music producer Hwang Hwi will add new textures to traditional music. Visual artist Jeong Eun-young and music critic Seong Hye-in will be invited to enhance the understanding of the program.Ryu Moon-hyung, CEO of the Samsung Cultural Foundation, stated, “Since the 1990s, the Samsung Cultural Foundation has systematically supported the development of Korean traditional music and the cultivation of talent through initiatives like the 'Seoul National Traditional Music Competition,' 'National Traditional Children's Song Festival,' 'Jeong Nongak Association,' and 'World Pansori Association.' Through this project, we aim to present a contemporary traditional music performance that reflects our cultural pride and establish a foundation for the continuation and new creation of our traditional culture.”Applications for each performance will be available on the Leeum Museum's website starting at 5 p.m. on August 25. 2026-08-24 13:52:20
  • U.S. Demands Faster Rate Hikes from BOJ as Condition for Yen Intervention
    U.S. Demands Faster Rate Hikes from BOJ as Condition for Yen Intervention The United States reportedly demanded that the Bank of Japan (BOJ) accelerate its interest rate hikes as a condition for last month's joint yen-buying intervention. With increasing pressures from yen depreciation and rising prices, the BOJ's rate hike intervals, which had been every six months, may shorten. The market is increasingly accepting an additional rate hike in September as a given. According to the Nihon Keizai Shimbun (Nikkei) on August 24, several BOJ officials stated, "If we do not increase the pace of rate hikes, inflation could rise significantly, adversely affecting the economy," and noted that "the need to shorten the intervals between hikes, which have been every six months, is a common understanding among many policy board members," reinforcing the sentiment for an early rate increase in the market. The BOJ's next monetary policy meeting is scheduled for September 17-18. According to financial market research firm Dotan Research, the probability of a rate hike in September exceeded 80% as of the afternoon of August 21. A bond manager at a financial institution remarked, "We are already trading as if a September rate hike is a certainty." The push for an early rate hike stems from the joint yen-buying intervention conducted at the end of July. A Japanese government official told Nikkei, "Among the conditions presented by the U.S. for participating in the joint intervention was that the BOJ would raise rates more quickly." The U.S. has raised these conditions due to concerns over rising U.S. Treasury yields. Many view the recent U.S.-Japan joint intervention as a measure to prevent yen depreciation and rising Japanese interest rates from leading to a sell-off of U.S. Treasuries. The U.S. Treasury Department announced on August 19 that it would double the scale of its bond purchases and redemptions, but the effect on lowering rates has been limited. If the BOJ does not raise rates as aggressively as the market expects, yen depreciation and rising long-term interest rates in Japan could worsen, potentially impacting the U.S. Treasury market. Nikkei noted that the BOJ now bears the burden of ensuring that its actions do not shock global markets beyond stabilizing domestic prices. This U.S. demand aligns with recent trends in Japan's policy management. The BOJ ended its negative interest rate policy in March 2024 and raised rates in July of the same year, as well as in January and December of the previous year, and in June of this year. During this period, the Ministry of Finance and the BOJ also engaged in yen-buying interventions in July 2024 and April-May of this year. Nikkei explained that a pattern has emerged where rate hikes follow relatively shortly after currency interventions. Japan's excessively low policy interest rates have been identified as a factor contributing to yen depreciation, prompting the BOJ to correct this through simultaneous interventions and rate hikes. The BOJ is cautious about yen depreciation because companies are passing on rising costs to consumers more quickly than in the past. During the July monetary policy meeting, the BOJ identified rising international oil prices, increased demand related to artificial intelligence (AI), and yen depreciation as risks that could push inflation higher than expected. In fact, Japan's corporate price index rose 7.2% in July compared to the same month last year. Excluding volatile fresh food and energy, the consumer price index also saw a 1.9% increase, marking the largest rise in nine months. This indicates that inflation driven by yen depreciation is becoming a reality. Calls for Caution on Rate Hikes However, a September rate hike is not yet confirmed. Within the BOJ, there remains a cautious view that "it is not yet the time to conclude that a September hike is certain." If a hike occurs in September, it would be just three months after the previous increase, and four months if it happens in October, both of which are quicker than the previous six-month intervals. The BOJ plans to weigh the timing of any additional rate hikes based on upcoming economic indicators and international trends. Two key events are particularly noteworthy for the market. First is the speech and press conference by BOJ Deputy Governor Ryozo Himino on August 27. Himino made comments suggesting a rate hike during a speech prior to the January increase last year. As the market anticipates a September hike, there is keen interest in whether he will provide supporting signals this time. The second event is the G20 meeting of finance ministers and central bank governors in the U.S. from August 31 to September 1. U.S. Treasury Secretary Scott Vessenet expressed on X (formerly Twitter) that he looks forward to meeting BOJ Governor Kazuo Ueda, stating he believes Ueda will "do what is necessary," hinting at expectations for an additional rate hike. A press conference featuring Finance Minister Satsuki Katayama and Governor Ueda is also expected after the G20 concludes. Market attention is already shifting to potential further hikes after September. If rates are raised in both June and September, the next hike could occur in December. Expectations for the peak of rate hikes have also risen above 2%. Naoki Tamura, a prominent hawk on the BOJ board, views the neutral interest rate, which neither overheats nor cools the economy, to be around 2%, envisioning a scenario where rates continue to rise toward that level. Conversely, a BOJ executive noted that the exact level of the neutral rate is not clearly defined. Nikkei pointed out that the ultimate target for rate hikes set by the BOJ remains unclear. The challenge is that increasing the pace of rate hikes could lead to greater side effects. If long-term interest rates rise further, local banks may face increased valuation losses on their bond holdings, adding pressure to the financial system. Nikkei assessed that it remains uncertain how well the Takaiichi Sanae administration, which is actively pursuing fiscal policies amid a lack of clear domestic recovery, and the BOJ can synchronize their rate hike strategies.* This article has been translated by AI. 2026-08-24 13:52:10
  • 20 Colleges, Including Sangji University and Yeoju University, Face Financial Aid Restrictions in 2027
    20 Colleges, Including Sangji University and Yeoju University, Face Financial Aid Restrictions in 2027 Starting in the 2027 academic year, new and transfer students at 20 colleges will be ineligible for national scholarships and may face restrictions on student loans. Notably, six institutions, including Sangji University, Chugye University of the Arts, Seoyoung University, and Yeoju University, have been added to the list, which did not include them last year, prompting heightened caution among prospective students and their parents.Six New Additions to the List of Restricted CollegesOn August 24, the Education Ministry released the list of 20 colleges designated as 'financial aid restricted universities' for the 2027 academic year, part of a total of 308 institutions evaluated.Of the 308 colleges assessed, 288 (173 general and industrial universities, 115 vocational colleges) were classified as eligible for financial aid. In contrast, 20 colleges received the negative designation of 'restricted universities,' meaning they will not qualify for national scholarships or student loans.Among these, 16 colleges are fully restricted, while four are partially restricted. The new additions to the fully restricted list include Seoyoung University and Yeoju University, while Sangji University, Chugye University of the Arts, International University, and Daedeok University have been newly designated as partially restricted.The remaining 14 colleges on the fully restricted list include Geumgang University, Daegu Arts University, SinGyeongju University, Yewon Arts University, Jeju International University, Korea Baptist Theological University, Hanil University, and Hwaseong University of Science (all general universities), as well as Gwangyang Health University (scheduled for closure), Naju University, Busan Arts University, Songho University, Yeongnam Foreign Language University, and Woongji Taxation University (all vocational colleges). Notably, Catholic Kwandong University, Yeongnam Theological University, and Suwon Science University, which were on last year's restricted list, have been removed this year.Reasons for Financial Aid RestrictionsThe 'financial aid restricted university' system aims to ensure the quality of higher education and identify underperforming institutions. The designation is determined by the Financial Aid Review Committee, which applies two key criteria: 'university accreditation' and 'financial assessment of private universities.''University accreditation' evaluates whether an institution meets essential requirements as an educational entity. Colleges that receive an 'unaccredited' status are fully restricted from national scholarships and all types of student loans (both income-contingent and standard repayment).The 'financial assessment of private universities' is conducted by the Korea Scholarship Foundation, which uses eight quantitative indicators, including operational losses and debt ratios, to assess a university's short-term financial viability and sustainability. Even if a college passes the accreditation evaluation, it can still be designated as a partially restricted university if it is classified as a 'financially troubled institution' in the financial assessment. In this case, students can only access general repayment student loans, while national scholarships and income-contingent loans are not available.Impact on New and Transfer Students; Current Students Remain EligibleThis decision will only affect new and transfer students entering in the 2027 academic year. Therefore, existing students enrolled at these 20 colleges will generally continue to benefit from the current national scholarship and student loan support systems.However, students who enrolled in colleges that have been continuously designated as financial aid restricted since before the 2027 academic year will still face restrictions. Among the 16 colleges on the fully restricted list, 14 have been designated as such for two consecutive years, following their classification in the 2026 academic year. These include Geumgang University, Daegu Arts University, SinGyeongju University, Yewon Arts University, Jeju International University, Korea Baptist Theological University, Hanil University, Hwaseong University (all general universities), and Gwangyang Health University (scheduled for closure), Naju University, Busan Arts University, Songho University, Yeongnam Foreign Language University, and Woongji Taxation University (all vocational colleges).For instance, students who enrolled in these 14 colleges in the 2026 academic year and will be entering their second year in 2027 will face the same restrictions on national scholarships and all student loans as the new students. However, if the designation changes from fully restricted to partially restricted, more favorable conditions will be applied to assist students.Lee Hae-sook, Director of the Higher Education Policy Office at the Education Ministry, strongly urged prospective students and their parents to verify the lists of eligible and restricted colleges before making their final decisions to avoid any disadvantages.Chugye University of the Arts Addresses Financial ConcernsMeanwhile, Chugye University of the Arts, which has been newly designated as a financially troubled institution, issued a statement from its president in response to the situation.The university explained, "This designation is due to a temporary operational loss in the 2025 fiscal year, which has since been fully addressed as of April 2026. Currently, we have resolved all financial burdens, and our accreditation status remains intact, with classes and academic operations proceeding normally."Additionally, the university emphasized that current students are not subject to financial aid restrictions and that it is working with the school foundation to ensure that scholarships for new and transfer students in the 2027 academic year will be adequately supported.* This article has been translated by AI. 2026-08-24 13:52:10
  • Koreas Q1 payroll gains skew older while youth jobs slump
    Korea's Q1 payroll gains skew older while youth jobs slump SEOUL, August 24 (AJP) - South Korea's payroll job growth accelerated in the first quarter, but positions held by younger workers continued to shrink to highlight an uneven labor-market recovery concentrated among older workers and service industries. The number of wage-worker jobs stood at 20.828 million in the first quarter, measured as of February, up 292,000 or 1.4 percent from a year earlier, the Ministry of Data and Statistics said Monday. The increase widened from just 15,000 a year earlier and 221,000 in the fourth quarter, extending a steady recovery from last year's near-stagnation. Jobs held by people in their 20s or younger, however, fell by 76,000 from a year earlier, while positions held by workers in their 40s declined by 19,000. By contrast, jobs held by people aged 60 and above increased by 233,000, equivalent to nearly four-fifths of the overall net gain, while those held by workers in their 30s rose by 115,000 and those in their 50s by 40,000. The decline among younger workers has moderated from 168,000 a year earlier and 111,000 in the fourth quarter, suggesting the downturn is easing without yet turning into a recovery. Weakness among younger workers was particularly evident in sectors that typically provide entry points into more stable employment. Jobs held by people in their 20s or younger fell by 26,000 in manufacturing and by 14,000 each in information and communications and public administration. The figures add to signs that improvements in Korea's headline labor-market indicators have yet to translate into a broad recovery in employment opportunities for younger workers. Service industries, meanwhile, accounted for most of the overall increase. Service-sector jobs increased by 342,000 from a year earlier, exceeding the economy-wide net gain, as health and social welfare added 127,000 positions, accommodation and food services 59,000 and professional, scientific and technical services 37,000. Within health and social welfare, social welfare services added 88,000 jobs and healthcare gained another 40,000, showing that care-related industries remained a major source of employment growth. Manufacturing offered a more mixed picture despite the export-led semiconductor boom. Semiconductor jobs rose by 5,000 from a year earlier to 174,000 and jobs in new automobile parts increased by 4,000, but manufacturing employment as a whole edged down by 1,000 to 4.294 million. The decline was much smaller than losses of 12,000 in the first quarter of last year and 14,000 in the fourth quarter, pointing to some improvement in factory employment even as gains in semiconductors have yet to spread broadly across the sector. Construction remained the largest drag, shedding 52,000 jobs from a year earlier to 1.638 million, although the decline narrowed sharply from 154,000 a year earlier and 88,000 in the previous quarter. Specialized construction activities lost 35,000 positions and general construction shed 17,000. The administrative series counts individual jobs rather than employed people, meaning one worker holding more than one position can be counted more than once. The figures point to a labor market recovering from last year's near-stagnation, while persistent declines among younger workers show that the improvement has yet to broaden fully across generations and industries. AJP Takeaways: Jobs held by people in their 20s or younger fell by 76,000 year on year despite a 292,000 increase in overall wage-worker jobs. Workers aged 60 and above added 233,000 jobs, equivalent to nearly 80 percent of the economy-wide net gain. Semiconductor jobs rose by 5,000, but overall manufacturing employment remained broadly flat and youth manufacturing jobs fell by 26,000. 2026-08-24 13:50:03
  • Im Sung-jae misses PGA Tour Championship after seven straight appearances
    Im Sung-jae misses PGA Tour Championship after seven straight appearances SEOUL, August 24 (AJP) - Golfer Im Sung-jae failed to qualify for the PGA Tour Championship for the first time in seven years after finishing outside the top 30 in the FedExCup rankings over the weekend. At the BMW Championship in St. Louis, Missouri, on Sunday, the second event of the three-stage FedExCup playoffs, Im tied for 10th at 8-under 272, but it was not enough to secure a spot in the season finale, leaving him 37th in the overall FedExCup rankings. Only the top 30 players advance to the Tour Championship. The playoffs began at TPC Southwind in Memphis, Tennessee earlier this month and will conclude with the Tour Championship in Atlanta, Georgia, later this week. Im had qualified for the Tour Championship every year since his rookie season, continuing a streak of seven consecutive appearances from 2019 through last year. But a wrist injury that kept him out for the first two months of the season made it difficult for him to accumulate enough FedExCup points, and he eventually fell short of reaching the season finale. Meanwhile, his two compatriots, Kim Si-woo and Kim Joo-hyung, also known as Tom Kim, finished fifth and 29th, respectively, to qualify for the 30-player Tour Championship, marking their first appearances in the event since 2023. The Tour Championship, which offers a US$40 million purse, will begin its four-day tournament at East Lake Golf Club in Atlanta, Georgia on Thursday. AJP Takeaways • Im Sung-jae failed to qualify for the 2026 PGA Tour Championship after finishing 37th in the overall FedExCup rankings following the BMW Championship on Aug. 23, 2026. • Im tied for 10th at the BMW Championship with an 8-under 272 at Bellerive Country Club in St. Louis, Missouri, but the result was not enough to move him into the top 30 required for the Tour Championship. • Im's seven-year streak of Tour Championship appearances ended, after he had qualified for the season finale every year from 2019 through 2025. • A wrist injury contributed to Im’s failure to qualify, as he missed the first two months of the 2025-26 season and struggled to accumulate enough FedExCup points. • Kim Si-woo and Kim Joo-hyung qualified for the 2026 Tour Championship, finishing fifth and 29th, respectively, in the FedExCup rankings. The four-day season finale begins Aug. 27, 2026, at East Lake Golf Club in Atlanta, Georgia, with a US$40 million purse. 2026-08-24 13:48:56
  • China Sees Surge in Travelers Amid COVID-19 Resurgence
    China Sees Surge in Travelers Amid COVID-19 Resurgence Following the implementation of mutual visa-free and simplified visa measures between South Korea and China, the number of Chinese travelers entering South Korea has surged. This comes as new respiratory infections and COVID-19 variants are spreading in China, raising alarms about domestic quarantine management.According to statistics from the Ministry of Land, Infrastructure and Transport and related agencies, the number of passengers on Korea-China air routes in the first half of this year (January to June) reached 9.54 million, a 22.3% increase compared to the same period last year. This figure surpasses pre-pandemic levels seen in 2019.In particular, the South Korean government's temporary visa-free entry policy for Chinese group tourists (allowing stays of up to 15 days) and the visa-free system for Jeju Island have significantly boosted demand for Chinese visitors to South Korea.Current Status of Infectious Disease Resurgence in China and Domestic ConcernsThe situation in China regarding infectious diseases is concerning. Reports from the Disease Control Agency and foreign media indicate that a resurgence of COVID-19, primarily driven by the JN.1 variant and its sublineages, is ongoing, with positivity rates in sample surveillance exceeding 20%, indicating a sharp increase in infections.Domestically, the number of COVID-19 detections and hospitalizations is also rising, coinciding with the influx of millions of travelers each year.Experts warn that with the number of entrants surpassing pre-COVID levels due to the expansion of visa-free travel and normalization of Korea-China routes, traditional entry controls and simple temperature monitoring may not be sufficient to prevent the introduction of new variants. There is a growing call to transition to a digital and science-based proactive system for virus monitoring and infectious disease prevention.A key proposed measure is the comprehensive expansion of 'sewage-based real-time variant virus monitoring.' This approach involves conducting real-time genetic analysis (qPCR and NGS) of wastewater from Incheon International Airport terminals and major transit hubs, in collaboration with the National Health Research Institute. This method aims to accurately detect the entry of asymptomatic carriers and the emergence of new variants at the initial stages of entry.Additionally, the introduction of a 'digital mobility and AI-based prediction system' is suggested to minimize privacy infringements while monitoring infectious disease trends. By analyzing entry data and overseas infectious disease occurrence data using artificial intelligence (AI), the system can identify domestic regions with high entry rates from areas in China experiencing surges in infections, allowing for tailored quarantine alerts.In the medical field, securing 'targeted variant response treatments' and 'focused protection for vulnerable populations' are identified as core tasks. To prepare for the influx of new variants that may evade existing vaccines, the national stockpile of updated vaccines and antiviral drugs tailored to the latest variants must be promptly organized. Furthermore, a 'targeted pre-testing' and expedited treatment prescription process for the elderly and vulnerable facilities, such as nursing homes, is essential to prevent overwhelming the domestic healthcare system. 2026-08-24 13:48:10
  • IBK Banks Chinese Branch Faces 80 Billion Won Fraud Case Amid Poor Oversight
    IBK Bank's Chinese Branch Faces 80 Billion Won Fraud Case Amid Poor Oversight IBK Bank's Chinese branch is embroiled in a financial scandal involving approximately 80 billion won, raising concerns about the bank's inadequate management of online loans. The bank claims it fell victim to a so-called 'external fraud' during the process of handling customer principal and interest repayments through an external platform. However, it appears that the bank only became aware of the incident after a rise in complaints and unprocessed payments.On August 24, Shin Dong-wook, a member of the National Assembly's Political Affairs Committee, revealed information obtained from the Financial Supervisory Service and IBK Bank. According to the data, IBK Bank's Chinese branch had contracted with a local non-bank financial institution, Company A, to manage online loans. Company A processed borrower recruitment and repayment tasks through an online loan platform, Company B. Although IBK Bank directly disbursed the loans, it used a post-settlement method where repayments made by borrowers were funneled through accounts designated by Company B.The financial incident occurred when Company B exploited this repayment structure. The company solicited early repayments or interest reductions from customers, directing them to deposit money into the designated accounts. Subsequently, it sent false information to financial institutions, indicating that repayments had been made, while no actual funds were transferred. As a result, customers who repaid their loans were incorrectly classified as delinquent, and the financial institution did not receive the repayments.Particularly concerning is that it took IBK Bank several months to recognize the incident, raising questions about the effectiveness of its internal control systems.According to a report from the Financial Supervisory Service, the incident spanned from December 1 of last year to June 29 of this year. However, IBK Bank only became aware of the issue on June 24, six months after it began. This realization came only after it became evident that no actual deposits had been made and customer complaints increased. Following this, on June 25, the bank visited the offices of the platform and the collateral company to assess the situation, and on June 26, it verbally reported the matter to local financial authorities.The first report to the bank's headquarters was made on June 30, and the initial phone report to the Financial Supervisory Service occurred on July 1. A written report was submitted on July 10.Despite the significant scale of the incident, the exact amount of damages and losses has yet to be determined. IBK Bank disclosed on July 15 that the scale of the financial incident was 83.376 billion won. However, two months after recognizing the incident, the bank still has not accurately assessed the actual amount involved, recovery amounts, or estimated losses.In response, IBK Bank stated, "This matter is currently under investigation by overseas authorities, and we plan to cooperate closely with local agencies to pursue necessary legal actions." The bank also mentioned that it is continuously reviewing and enhancing its internal control procedures.* This article has been translated by AI. 2026-08-24 13:48:00
  • Samsung SDI Shares Rise Over 7% Following Sale of Samsung Display Stake
    Samsung SDI Shares Rise Over 7% Following Sale of Samsung Display Stake Samsung SDI is experiencing a strong performance in the market, with shares rising over 7% after securing more than 4 trillion won in investment funds through the sale of its stake in Samsung Display. This surge is attributed to growing expectations for the expansion of its North American energy storage system (ESS) business.As of 1:43 PM on the Korea Exchange, Samsung SDI shares were trading at 511,000 won, up 33,000 won (6.90%) from the previous trading day.On August 21, Samsung SDI announced that it would transfer part of its stake in Samsung Display, amounting to 13,088,235 shares, for a total consideration of approximately 4.449 trillion won.Market analysts view this stake sale as a concrete step toward securing the necessary funds for expanding its North American ESS business.Park Jin-soo, a researcher at Shin Young Securities, stated, “This announcement indicates that the funding for expanding North American ESS battery production capacity (CAPA) has been solidified, which is positive. In the future, investments utilizing the proceeds from the sale will accelerate through synergy sales.”He further projected that Samsung SDI's North American ESS battery production capacity will increase from approximately 30 GWh by the end of this year to over 50 GWh by the end of 2028.Alongside Samsung SDI's strong performance, other secondary battery stocks are also rising. At the same time, LG Energy Solution is up 15.31%, while POSCO Future M and EcoPro BM have increased by 9.04% and 8.71%, respectively.* This article has been translated by AI. 2026-08-24 13:48:00
  • Park Seung-soo, former president of the Korea Volleyball Association, dies at 86
    Park Seung-soo, former president of the Korea Volleyball Association, dies at 86 Park Seung-soo, the former president of the Korea Volleyball Association, passed away on the 23rd due to health issues. He was 86 years old.Born in Jecheon, Chungbuk, Park began his coaching career in 1970 as the head coach of Taekwang Industrial after a successful playing career as an attacker. He went on to coach the national teams of Iran in 1976 and led Honam Oil (now GS Caltex) in 1983, before taking the helm at Hanil Synthetic in 1988. In 1989, he became the head coach of the South Korean women's national volleyball team.Later, Park transitioned into administration, serving as the secretary general and executive director of the Korea Volleyball Association. In 2000, he was appointed president of the Korea 9-player Volleyball Federation, promoting the sport. Following the resignation of former president Lim Tae-hee, he served as the 37th president of the Korea Volleyball Association from 2015 to 2016, contributing to the sport's development.The funeral is being held at the Yeonhwa Funeral Home in Suwon, Gyeonggi Province, with the burial scheduled for 9 a.m. on the 25th.* This article has been translated by AI. 2026-08-24 13:44:00