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  • Japans 2027 Budget Request Expected to Exceed 130 Trillion Yen
    Japan's 2027 Budget Request Expected to Exceed 130 Trillion Yen Japan's government is expected to request a budget exceeding 130 trillion yen (approximately $1.13 trillion) for the 2027 fiscal year, marking the first time this threshold has been surpassed. The increase is driven by expanded investments in new growth sectors, increased defense spending, and rising interest burdens on national debt, suggesting a fourth consecutive year of record-high budget requests.According to Yonhap News, citing Kyodo News, the budget requests from various Japanese government ministries for the 2027 fiscal year are anticipated to exceed 130 trillion yen. The previous year's request for the 2026 fiscal year was 122 trillion yen (about $1.07 trillion).The increase in requests is influenced by the government's decision to effectively remove caps on investments in new growth sectors. Support for advanced industries such as artificial intelligence (AI) and semiconductors, along with spending to enhance defense capabilities, is being expanded simultaneously.The Ministry of Economy, Trade and Industry has requested 7.7 trillion yen (approximately $67 billion), with about 4.5 trillion yen (around $39 billion) allocated specifically for AI and semiconductor development.This aligns with the government's ongoing mid- to long-term policy to foster advanced industries. Under the 'AI and Semiconductor Industry Foundation Strengthening Framework' established in November 2024, the government plans to inject over 10 trillion yen in public support over seven years until the 2030 fiscal year, aiming to attract more than 50 trillion yen in private and public investments over the next decade. The projected economic ripple effect is estimated at around 160 trillion yen.The Ministry of Defense has also requested a record budget of approximately 8.9 trillion yen (about $78 billion) for the deployment of intercept drones and other initiatives.As spending increases, the financial burden is also growing. Japan's national debt for the 2026 fiscal year is projected to reach 31.2758 trillion yen, an increase of 3.0579 trillion yen from the previous year. According to the Ministry of Finance's estimates for the following year, interest payments are expected to rise from about 13 trillion yen in 2026 to between 15.4 trillion and 15.5 trillion yen in 2027.With long-term government bond rates on the rise, the future burden of interest payments is likely to become a significant variable in budget management.Additionally, there are many 'item requests' related to defense spending that do not specify concrete amounts at this stage, which could lead to an increase in the final budget request.Finance Minister Satsuki Katayama indicated a commitment to active fiscal spending, stating, "There is no longer anything that can be called a 'ceiling' on spending," according to Kyodo News.The Japanese government plans to compile budget requests from various ministries by the end of this month, followed by a review by the Ministry of Finance before the budget proposal is finalized in the Cabinet.* This article has been translated by AI. 2026-08-22 16:28:00
  • President Lee Invites Democratic Party Leaders and Lawmakers to the Blue House
    President Lee Invites Democratic Party Leaders and Lawmakers to the Blue House President Lee Jae-myung is inviting the leadership and lawmakers of the Democratic Party to the Blue House ahead of the September regular National Assembly session. This initiative is seen as a move to enhance communication between the party and the government and to solidify legislative cooperation for key national agenda items.According to the Yonhap News Agency, Chief Spokesperson Kang Yu-jeong announced on the 22nd that President Lee plans to host a lunch for Democratic lawmakers at the Blue House on the 28th.Democratic lawmakers are expected to attend a two-day workshop in Incheon starting on the 27th in preparation for the regular National Assembly, and will move to the Blue House on the 28th. Given the timing right after the workshop, it is anticipated that most party members will participate.Prior to this, on the 25th, President Lee will have dinner with the new Democratic Party leadership, including Representative Kim Min-seok. This marks a series of official communication opportunities between the party and the government since the new leadership took office.During these meetings, discussions are expected to focus on major legislative tasks and national issues to be addressed in the September regular National Assembly, as well as future cooperation between the party and the government.Last August, President Lee also invited Democratic lawmakers to the Blue House for lunch following their workshop.* This article has been translated by AI. 2026-08-22 16:12:00
  • Anthropic Pursues $2 Trillion IPO, Aiming for Largest Ever, Surpassing SpaceX
    Anthropic Pursues $2 Trillion IPO, Aiming for Largest Ever, Surpassing SpaceX Artificial intelligence company Anthropic is reportedly aiming for a $2 trillion valuation in its initial public offering (IPO). If successful, this would surpass Elon Musk's SpaceX, making it the largest IPO in history.According to a report by Yonhap News, citing the New York Times, Anthropic's underwriters have recently discussed plans to raise over $100 billion from potential investors.In this context, Anthropic's valuation is being discussed at a maximum of $2 trillion, exceeding SpaceX's valuation of $1.77 trillion at the time of its IPO. SpaceX raised $85.7 billion during its public offering.Anthropic's valuation has been rising sharply. Earlier this year, the company was valued at $900 billion during a private funding round. This increase is largely attributed to its coding AI program, 'Claude Code.'Last month, Anthropic reported an annualized revenue exceeding $65 billion. This figure represents a significant increase from $9 billion at the end of last year, growing more than sevenfold in just seven months. Actual revenue for the second quarter of this year reached $11.6 billion.Anthropic has emphasized to investors that it expects continuous improvements in AI model performance, allowing it to maintain high service prices despite price reductions from competitors.However, sustaining growth that matches its high valuation remains a concern. Investors are closely watching whether Anthropic can maintain its current service prices amid the rise of relatively inexpensive 'open weight' AI models. Additionally, securing sufficient infrastructure, including data centers, semiconductors, and power, to meet the surging demand for AI services is a challenge.In response, Anthropic is focusing on acquiring AI infrastructure and talent. Reports indicate that the company recently hired Amir Saleh, who led Google's AI chip Tensor Processing Unit (TPU) business. Last month, it was also reported that Anthropic is in discussions with Meta for a computing resource leasing contract worth up to $10 billion.Anthropic is expected to release its IPO prospectus within weeks and aims to go public in the coming months.* This article has been translated by AI. 2026-08-22 15:36:00
  • Trump claims Hormuz as American territory as Iran seeks deal
    Trump claims Hormuz as 'American territory' as Iran seeks deal SEOUL, August 22 (AJP) - U.S. President Donald Trump has again claimed the Strait of Hormuz as American territory, while saying Iran is desperate to reach an agreement to end the nearly six-month conflict. Speaking at a campaign rally in Myrtle Beach, South Carolina, on Friday, Trump said Tehran badly wanted a deal but questioned whether Washington was still interested in reaching one. “I view the Strait of Hormuz as an American territory right now. It’s an American territory,” Trump said. The remarks marked an escalation of Trump's claims over the strategic waterway, which lies between Iran and Oman and was a key route for about one-fifth of globally traded oil before the war. Trump made a similar assertion last week, saying he would soon declare the Strait of Hormuz a U.S. territory after defeating Iran. He has also repeatedly claimed that Washington has “total control” over the waterway as the United States enforces a naval blockade against Iran. Shipping through the strait remains severely disrupted despite competing claims by Washington and Tehran over its status. Only a handful of commodity vessels have recently passed through the waterway, compared with more than 130 ships a day before the war, according to ship-tracking data cited by Reuters. Trump's suggestion that Iran is eager for an agreement came as Iranian President Masoud Pezeshkian also signaled support for ending the conflict, though he portrayed Tehran as negotiating from a position of strength. “It would be better to end the war today, when we are powerful and have dignity,” Pezeshkian said Friday, according to Iran's ISNA news agency. He also claimed that the international community recognized Iran's victory and criticized U.S. attacks on Iranian infrastructure. During the rally, Trump urged his supporters to turn out in November even though his own name will not be on the ballot, warning that a Republican defeat could jeopardize his domestic agenda and expose him to renewed impeachment efforts. 2026-08-22 15:34:55
  • President Lee to Host Luncheon with Democratic Party Lawmakers on August 28
    President Lee to Host Luncheon with Democratic Party Lawmakers on August 28 이재명 대통령이 오는 28일 더불어민주당 의원들을 청와대 영빈관으로 초청해 오찬을 함께한다. 25일 민주당 신임 지도부와의 만찬에 이어 사흘 만에 소속 의원들과 만나는 것으로, 정기국회를 앞두고 당·정·청 소통과 국정과제 추진을 위한 협력을 강화하는 행보에 나선다. 강유정 청와대 수석대변인은 22일 언론 공지를 통해 이 같은 소식을 전했다. 이 대통령은 민주당 의원들을 대규모로 초청하는 자리인 만큼 민생·경제 현안과 주요 국정과제, 정기국회 입법·예산 전략 등에 관한 폭넓은 의견 교환이 이뤄질 것으로 보인다. 이에 앞서 오는 25일에는 김민석 대표를 비롯한 민주당 신임 지도부를 청와대로 초청해 만찬을 함께한다. 지도부 만찬에는 김 대표와 한병도 원내대표를 비롯한 최고위원들과 주요 당직자들이 참석한다. 지난 17일 전당대회를 통해 출범한 김민석 지도부와 이 대통령의 공식 상견례 성격을 띠는 자리다. 이 대통령은 김 대표를 비롯한 신임 지도부와 당·정·청 협력 방향을 논의한 뒤 28일 민주당 의원들과의 오찬을 통해 소통 범위를 당 전체로 넓힐 것으로 예상된다. 이 대통령은 지난 19일에도 민주당 당대표 선거에 출마한 김 대표와 정청래·송영길 의원, 한 원내대표를 청와대로 초청해 만찬을 함께한 바 있다.* This article has been translated by AI. 2026-08-22 15:08:00
  • Chinas YMTC moves toward $4.9 billion IPO as memory chip push accelerates
    China's YMTC moves toward $4.9 billion IPO as memory chip push accelerates SEOUL, August 22 (AJP) - Chinese NAND flash memory maker Yangtze Memory Technologies Co. is moving closer to a major Shanghai listing, following the blockbuster market debut of its DRAM counterpart CXMT as China accelerates its push to challenge South Korean and U.S. dominance in memory chips. The Shanghai Stock Exchange accepted an initial public offering application Friday from CCSH Corporation, the parent company of YMTC, for a listing on the STAR Market, China's Nasdaq-style board for technology companies. CCSH plans to raise 33 billion yuan ($4.9 billion) through the offering, which would make it the third-largest IPO in the STAR Market's history after ChangXin Memory Technologies Co., or CXMT, and Semiconductor Manufacturing International Corp., or SMIC. The company plans to issue between 1.98 billion and 2.43 billion new shares, implying a post-listing valuation of roughly 275 billion yuan to 330 billion yuan. YMTC is CCSH's main operating business and accounts for more than 90 percent of the group's revenue. The IPO comes as an artificial intelligence-driven memory boom transforms YMTC's financial performance. Revenue reached 47 billion yuan in the first quarter of this year, nearly five times the level a year earlier, while net profit attributable to shareholders surged to 33.38 billion yuan. That was more than double the company's full-year profit of 14.21 billion yuan in 2025. Demand from AI data centers has become an increasingly important growth engine for the NAND industry, as cloud companies require greater amounts of high-capacity storage for training data, inference, backups and other workloads. Samsung Electronics remained No. 1 with a 25 percent shipment share, followed by SK hynix, including Solidigm, at 22 percent. Kioxia also held about 14 percent and Micron Technology 13 percent. YMTC, however, remained fifth by revenue, reflecting its heavier exposure to lower-priced consumer products compared with rivals with stronger positions in higher-value enterprise SSDs. The two companies, sometimes described in China as the country's "twin stars" of memory chips, have benefited from years of state support as Beijing seeks to reduce its reliance on foreign semiconductor technology. CXMT focuses on DRAM, while YMTC produces NAND flash used in smartphones, solid-state drives and data centers. YMTC's expansion has continued despite U.S. technology restrictions. Washington added the company to the Commerce Department's Entity List in 2022, restricting its access to U.S.-origin semiconductor equipment and technology, while the Pentagon has also designated it as a Chinese military company. 2026-08-22 14:50:58
  • U.S.-Canada Trade Talks Fail, Trump’s New Tariffs Take Effect
    U.S.-Canada Trade Talks Fail, Trump’s New Tariffs Take Effect The United States and Canada failed to reach an agreement in their trade negotiations, leading to the implementation of new tariffs announced by President Donald Trump.According to reports from Yonhap News and international agencies AP and AFP, the trade talks between the U.S. and Canada broke down on August 21 (local time).Jamieson Greer, the U.S. Trade Representative (USTR), confirmed the collapse of negotiations, stating, "Canada refused to finalize the trade agreement based on the conditions agreed upon earlier this week."Earlier, President Trump had warned that he would impose tariffs of up to 50% on Canadian imports, citing discrimination against U.S. products in Canada’s automotive, alcohol, and dairy industries.The two countries had been negotiating ahead of the originally scheduled tariff imposition deadline of August 19. Canada sought to delay the tariffs and demanded the withdrawal of existing tariffs on automobiles and steel. The U.S. countered by insisting that Canada end its boycott of American alcoholic beverages in certain provinces.After a phone call with Canadian Prime Minister Mark Carney on August 18, Trump announced a temporary suspension of the tariffs to continue negotiations, but ultimately, both sides could not reconcile their differences.As a result of the failed negotiations, a 50% tariff on certain Canadian imports has now taken effect, according to AFP.If the U.S. and Canada continue to exchange tariffs, the likelihood of escalating trade tensions between the two nations is increasing.* This article has been translated by AI. 2026-08-22 14:28:20
  • CONCACAF and UEFA Discuss Creation of Unified Nations League
    CONCACAF and UEFA Discuss Creation of Unified Nations League North America, Central America, and Caribbean Football Confederation (CONCACAF) and the Union of European Football Associations (UEFA) are reportedly in discussions to establish a unified Nations League, aiming for a launch in the fall of 2028.According to a report by Yonhap News, ESPN stated on August 22 that CONCACAF and UEFA are collaborating more closely than ever, with discussions about the unified Nations League underway.The two confederations signed a memorandum of understanding (MOU) in April to foster the development of players, coaches, referees, and administrators. Following this agreement, they began talks about creating the unified Nations League.If established, the unified Nations League would create a new international tournament where teams from North America and Europe could regularly compete against each other.For CONCACAF, this presents an opportunity for improved performance. Since UEFA launched its Nations League, major CONCACAF nations like the United States and Mexico have had fewer chances to play against top European teams during international match windows. The unified league is expected to enhance overall performance through competition with European teams.UEFA also stands to benefit. The North American market, including the United States and Mexico, is considered a significant global sports market, and a unified tournament could expand soccer's influence in the region.The collaboration between the two confederations is also influenced by political tensions within the international football community. CONCACAF and UEFA have strongly opposed FIFA President Gianni Infantino's plan to sell some commercial rights of the FIFA World Cup to private investors. They have also voiced support for a motion of no confidence against Infantino, alongside the Asian Football Confederation (AFC).ESPN reported that in this context, CONCACAF and UEFA are strengthening their cooperation in the 'anti-Infantino' camp. However, neither confederation has yet made an official statement regarding the creation of the unified Nations League. Should the tournament be launched, it is likely that most of the top division will consist of UEFA member nations, but CONCACAF anticipates that competing with European powerhouses will help improve their performance.* This article has been translated by AI. 2026-08-22 14:28:00
  • In Busan, Overwatch stops visiting and moves in
    In Busan, Overwatch stops visiting and moves in BUSAN, August 22 (AJP) - A row of Overwatch's heroes had stepped off the screen onto a strip of astroturf — D.Va flashing her decorated pistol, Reaper looming under his hood, while Genji meditated on an orange beanbag, eyes shut tight in ease. All around the packed halls of BEXCO, thousands of fans of Blizzard's tactical shooter Overwatch buzzed with hype, clutching tote bags branded with the iconic circular pattern and the stamp-rally cards that would soon be creased from a full day of missions. This was not the typical annual G-Star festival held for a year's worth of game reveals, but the very first "Overwatch Day," a two-day offline celebration thrown by Nexon to mark the game's official Korean service. Overwatch, run by Blizzard, had long been playable on shared Asia servers. Just this February, the game shed its "Overwatch 2" label and went free-to-play; the handoff to Nexon put a domestic publisher in charge of the community for the first time. That shift lands at a pointed moment for the fiction, too, as Overwatch's newest hero, D.Mon, arrived on Aug. 11 as the 53rd character on the roster — a Korean tank pilot and the leader of MEKA Squad, the fictional South Korean mech unit that D.Va once flew with. Her debut carries meaning of place as well. Season 4:Heroes of Busan rebuilt the city map to show the scars of a Junker assault, and D.Mon — real name Yuna Lee, piloting a hulking red mech called Beast — steps out of years of background lore to defend her hometown with a Plasma Saber and Power Barrier. For the fans threading through BEXCO, the pull was simpler. Asked what she had looked forward to most, Thanuja, 35, a foreign fan who found the event through Instagram, did not hesitate. "Games," she said, her partner translating fluidly into Korean beside her. Jang Eun-ju, 28, and Kim Su-hyun, 26, came the same way, tipped off by Instagram. "I mostly play healers or tanks — Zenyatta or Reinhardt," said Kim, a seasoned player. Jang had come hunting merchandise, with her eye on one prize above all: a keycap stamped with the Overwatch logo. Both had a message for the game's new Korean steward. "I hope there's more active communication with users," Jang said, hopeful that a home-grown operator might listen more closely than a distant one. She added a second wish, lightly but pointedly: "I hope there won't be excessive monetization." Beyond the stage, the floor was a playground built from the game's own geography — a MEKA base, a temple, a stretch of Busan streetscape — where visitors ran seven missions to earn stamps and trade them for goods at a "Busan Station Tower" counter. Waits for any booths stretched past an hour. At one booth, a Taiko-style rhythm game lit up: twelve circular targets flashing in a grid while challengers hammered them frantically before the lights winked out. Just across the hall, players loaded semi-automatic Nerf blasters and squeezed off suction-tipped foam rounds with the calm of snipers. One woman kept clipping the divider between targets instead of the bullseye. "That's actually hard to hit!" a staffer laughed. A few steps over, a man inched a metal rod along a cut-out course, sweat on his brow, willing it not to touch. Men rolled foam dice studded with icons like something out of Dungeons & Dragons; a little girl grinned as she shoved a payload cart shaped like a battering ram across the floor. At the PC-bang zone, the real thing was underway — a 60-seat arena running quick single-match games in its Busan map, each capped with a Play of the Game award. "Hammer Down!" one player bellowed in Korean, eyes glittering as his fingers flew across the keyboard. Playing Reinhardt, he pancaked three foes in a row, then — with a boost from Ana — slammed a Kiriko into a nearby food stall, simultaneously crushing an enemy Ana who had just clawed her way back into the fight. Play of the Game. In the center of it all, weary players sank into beanbags, sorting the day's haul, while game sessions, including friendly matches with renowned players, boomed on and on from the main stage. Those sessions were where Nexon and Blizzard came to say their piece. On stage for the developer talk, Blizzard's Walter Kong, senior vice president and head of development for live games and mobile, cast Busan as more than a backdrop. "Busan is beautiful — the sea, the landmarks," Kong said, calling it a thrill to stand in the city that inspired the game. "The Korean community has been a huge source of strength from the very beginning." Game director Aaron Keller, on his first visit to Korea, said the team had leaned into the places fans love most. "Korea is one of the regions global fans especially adore, and there were so many requests to make a MEKA pilot playable," he said, calling D.Mon's Busan debut a special moment. "D.Mon is a character who has existed in our universe for a long time," Keller said, describing an early gun-focused prototype that gave way, revision by revision, to a sword-and-shield tank built for mobile, close-range aggression. Keller framed the Nexon tie-up as a way to close the distance to Korean players. "We judged that Nexon understands the Korean market and community best, so they were the most fitting partner," he said, adding that the deal should help Overwatch "grow and expand beyond Korea." Kong, asked where the game goes from here, waved off any notion of a victory lap at the 10-year mark. "Our journey doesn't end here. We have a long way to go," he said. "Overwatch is a living, breathing universe" — one, he added, that Blizzard means to keep building alongside Korean fans rather than for them. 2026-08-22 14:13:41
  • K-Aesthetics Expands Portfolio to Overcome Growth Limits of Single Products
    K-Aesthetics Expands Portfolio to Overcome Growth Limits of Single Products Major aesthetic companies in South Korea are moving away from a single-product focus to expand their portfolios. As growth limitations become evident with reliance on a single flagship item, these companies are adopting strategies to broaden both their product lines and business sectors.According to market research firm Data Bridge Market Research, botulinum toxin is widely used for wrinkle improvement, facial contouring, and sweat gland treatments, accounting for 44.3% of the domestic beauty market in 2024. However, as the market matures and competition intensifies, there are concerns that relying solely on toxins will hinder growth. An industry insider noted, "As it becomes harder to attract new patients, we have entered a saturation phase where increasing domestic sales with a single product is challenging."Companies are accelerating their efforts to expand their product lines. By securing a variety of products such as fillers and dermacosmetics, they can propose multiple treatment combinations to clinics, enhancing their sales competitiveness. Given the aesthetic market's nature, which often involves repeat procedures, the ability to connect existing customers with diverse products is also seen as a significant advantage.Hugel is one of the companies actively pursuing portfolio diversification. In the first half of this year, botulinum toxin drove performance growth, while non-toxin segments, including fillers and cosmetics, accounted for about 41% of total sales. The company is also strengthening its bundling strategy, offering combinations of toxins, hyaluronic acid (HA) fillers, sutures, and skin boosters. This approach aims to position fillers and skin boosters as complementary treatments rather than competitors.Pharmarise is expanding its business around its flagship product, Rejuran. While its medical device segment still accounts for more than half of its revenue, the cosmetics division, led by Rejuran cosmetics, is on the rise. In the second quarter, cosmetics sales surged nearly 96% year-on-year, driving international sales growth. The company plans to enter Costco in the U.S. in the third quarter.Pharmarise is also expanding its new product lines. Following the scalp booster utilizing its patented cosmetic ingredient c-PDRN, it is enhancing its gynecological product line based on DOT® PN ingredients. Recently, it launched 'Gyner,' its first product in the gynecological market. Although the health supplement business is still small, the company aims to grow by increasing its presence in pharmacies.Jetema recently announced a new vision to become a 'total bio healthcare company.' Currently, over 60% of Jetema's revenue comes from its filler business. The company plans to expand its existing operations while developing high-value bio pipelines, including GLP-1 obesity treatments and age-related eye treatment products, as future growth drivers. To support this strategy, it has appointed Yoo Geun-jik, a former CEO of a cosmetics company, as the vice president overseeing the dermacosmetics division.Industry experts believe that competition in the aesthetic market is shifting from individual products to portfolios. One industry insider remarked, "In aesthetics, relying on a single product can lead to greater performance volatility as competition intensifies. Clinics prefer to source multiple products from a single company, so portfolio competitiveness can determine a company's overall competitiveness." 2026-08-22 14:04:00