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Former NSC chief urges Seoul to take Trump's latest moves seriously SEOUL, August 21 (AJP) - Former White House National Security Council chief of staff Alexander B. Gray urged Seoul to take U.S. President Donald Trump seriously on investment and the treatment of American companies while defending his "unconventional" approach to North Korea, which differs from previous presidents', in an AJP interview in Seoul earlier this week, two days after Trump abruptly ordered a substantial reduction in a joint military exercise with South Korea on Sunday. Trump cited the cost of the annual Ulchi Freedom Shield (UFS) exercise, among other reasons for its reduction, but many pundits speculated that the move was related to delays in implementing Seoul's US$350 billion U.S. investment commitment and Washington's complaints involving Coupang and other American companies. AJP interviewed Gray at Lotte Hotel Seoul on Tuesday as the allies were confronting an unusually broad set of challenges spanning military coordination, North Korea policy, trade and investment. Trump's Aug. 16 order had come only hours before the annual Ulchi Freedom Shield (UFS) exercise was due to begin and apparently without advance notice to officials in either Seoul or Washington. Foreign Minister Cho Hyun told lawmakers the following day that officials in both governments had been unaware of the order beforehand. At the time of the interview, Gray stressed that the exercise then underway had not yet been altered and argued that Trump's broader record demonstrated that Washington remained willing to use force when necessary to maintain deterrence. That changed within a day. South Korea and the U.S. subsequently agreed to end UFS about a week earlier than originally scheduled on Aug. 27, cutting the 11-day exercise to five days and reducing some combined field training drills. About 18,000 South Korean troops are participating in this year's exercise. Gray said Trump's decision should also be viewed in the context of his longstanding interest in personally engaging North Korean leader Kim Jong-un. Gary said Trump believes his unusual personal leverage could produce a diplomatic breakthrough that previous U.S. presidents failed to achieve. "His unique position as a global leader can achieve a diplomatic outcome with North Korea that has eluded every American president since Harry Truman," Gray said. "I think he's very committed to trying to do that," he said. "As he enters the final half of his presidency, I think he's going to look for ways to reshape global politics, and North Korea is a great opportunity to do that," he added. Events since the interview have reinforced signs that Trump is seeking another encounter with Kim. Trump said Wednesday that he expected to meet the North Korean leader later this year, while the Wall Street Journal reported that he had been pressing aides to arrange a meeting as early as this fall, possibly during a November trip to Asia. Trump met Kim three times during his first term, but their nuclear diplomacy broke down without an agreement after the 2019 summit in Hanoi. The nuclear challenge has also grown substantially since those meetings. Trump said Wednesday that North Korea had 57 "very powerful" nuclear weapons. South Korean Defense Minister Ahn Gyu-back told lawmakers the following day that private research estimates generally put Pyongyang's arsenal at between 80 and 120 warheads, although he stressed that the South Korean military could not officially verify an exact figure. Pyongyang, meanwhile, has offered little indication that Trump's latest gesture will immediately revive talks. Kim Yo-jong, the North Korean leader's influential sister, dismissed the scaled-back exercises as insufficient while still describing the personal relationship between Trump and Kim as "excellent." North Korea then fired about 10 short-range ballistic missiles toward its eastern waters on Thursday. Gray said Trump's complimentary language toward Kim should not necessarily be read as personal affection, but as part of his negotiating style. "If you want to have a positive relationship that leads to negotiations that serve U.S. interests, why would you intentionally be nasty to our adversaries?" Gray said. "President Trump thinks that there is no value in gratuitously criticizing people that we have to negotiate with," he said. "Kim Jong-un is ultimately going to have to sit across the table from President Trump and President Lee, and they are going to have to come up with a deal," he added. Gray said the same transactional approach lies behind Trump's demands on South Korea in the economic sphere. For decades, he argued, Washington was willing to tolerate trade arrangements that it did not necessarily regard as economically reciprocal because close alliances with South Korea and Japan produced larger geopolitical benefits. Trump, he said, now wants to change that bargain by coupling the security relationship with large-scale investment that creates jobs and industrial capacity inside the United States. South Korea committed to a $350 billion U.S. investment package as part of the bilateral trade agreement reached last year. The package consists of $200 billion for strategic investments and $150 billion for shipbuilding cooperation. Seoul launched the state-backed Korea-U.S. Strategic Investment Corporation in June to implement the pledge, but specific projects are still being selected. Gray warned that Seoul should not assume it could delay implementation until Trump leaves office in January 2029. He said Trump wants to see concrete projects being built and Americans employed while he remains in the White House, and that a lack of tangible progress over the coming year could create serious difficulties in bilateral relations. Looking beyond the immediate disputes, Gray said Washington still wants the alliance to broaden. "Number one, we want to see the alliance continue to grow and expand into new areas," Gray said. "We also want to see a broader consensus that China is a very serious threat to regional stability," he said. "The U.S. wants to see governments of both the left and the right in all of our partners and allies view China in a similar way," he added. Gray acknowledged that South Korea faces different economic realities because of its geographical proximity and extensive trade ties with China, leaving room for differences over tactics. But he said Washington would continue to seek broad strategic alignment from its allies regardless of which parties hold power. "The final thing is understanding that, as we talk about the investment package, we have to see some reciprocity," Gray said. "We have to see U.S. companies treated fairly," he said. "We have to see the investment deal that was made honored and turned into actual projects," he added. His comments come amid growing political pressure in Washington over the treatment of American businesses in South Korea. A report released last month by the Republican-led U.S. House Judiciary Committee alleged that South Korean regulators had engaged in discriminatory enforcement against American-owned companies, with particular attention to U.S.-listed e-commerce company Coupang and the Korea Fair Trade Commission. Seoul has rejected the broader allegation that it systematically discriminates against foreign companies. Gray was sharply critical of the regulatory environment. "If you look at the way U.S. digital companies are disproportionately receiving large fines, and the way in which the Korea Fair Trade Commission is targeting U.S. companies and going after them with very aggressive raids, frankly, some of the positions those employees have been put in are completely unfair," Gray said. "U.S. digital and tech companies right now are the backbone of the U.S. economy," he said. "They are driving our growth and productivity. They are the innovators," he said. "They have enormous economic heft in the United States," he added. Gray argued that Trump has increasingly treated major American technology companies as strategically important national assets and has shown a willingness to retaliate when he believes they are being unfairly targeted abroad. "The president has recognized that, and he has been very responsive when those companies have been treated unfairly, whether by Canada with a digital services tax or by the European Union with the Digital Markets Act," Gray said. "He has responded to every instance of unfair regulation by threatening tariffs, actually imposing tariffs or using other forms of trade retaliation," he said. "I would hate to see a situation in which Korea didn't take him seriously on this issue, didn't learn the lessons of Canada and the EU, and made the relationship more challenging by failing to understand the way in which we now view our tech companies as national champions," he said. "If they are being discriminated against, I don't think President Trump is going to stand for it," Gray added. The South Korean government publicly pushed back against that characterization a day after Gray's interview. Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol told an American Chamber of Commerce in Korea luncheon in Seoul on Wednesday that the government does not discriminate against foreign businesses and regards foreign companies investing and operating in South Korea as Korean companies. Koo also rejected suggestions that Seoul was deliberately delaying the $350 billion investment package, saying project selection was moving forward and identifying energy as one area drawing particular interest. Gray nevertheless argued that the economic relationship could become a source of greater alliance strength if Korean manufacturing capacity is integrated with American technology and production. He pointed to investments by Samsung and SK in the United States and to growing U.S.-Korean cooperation in shipbuilding, including Hanwha's operations in Philadelphia. "I think combining Korea's exceptional manufacturing expertise with U.S. innovation and facilities in the U.S. that can directly support our industrial base is the way to make this not a dependency, but something that benefits both sides," Gray said. Gray also rejected the common portrayal of Trump's foreign policy as impulsive, arguing that unpredictability itself is a calculated negotiating tool. "The president has always said that the unpredictability he is perceived to have by both friends and foes is one of his greatest strengths," Gray said. "He has referenced a term used by President Nixon called the 'madman theory' repeatedly," he said. Gray said the same uncertainty could help deter China from attempting to change the status quo across the Taiwan Strait. "I have a lot of confidence that we are going to be able to get through President Trump's term without a major escalation in Taiwan because I don't think Xi Jinping wants to find out how President Trump would handle an invasion of the Taiwan Strait or other coercion," he said. Gray, who worked with Trump inside the White House during his first term, said his personal experience differed sharply from the image of presidential improvisation often presented publicly. "What I saw personally, though, is a little bit different," Gray said. "I saw a president who uses that ambiguity and the public uncertainty about how he communicates in a very strategic way," he said. "There is a public narrative that he says things without a larger strategy. My experience is that everything he says has been thought through, has been discussed with his advisers, and is communicated in ways that tie back to a larger U.S. interest or the direction he is trying to head," he said. "The public narrative in the U.S. and globally sometimes confuses an intentional tactic with something chaotic or shooting from the hip," he said. "I think it is more intended to look that way than it actually is," Gray added. Gray met political figures during his visit to South Korea. He told AJP that he met independent Rep. Han Dong-hoon, a former leader of the People Power Party, during his stay. Gray also said PPP Chairman Jang Dong-hyeok came to Lotte Hotel Seoul on Monday, Aug. 17, a day before the AJP interview, and that the two held talks. Gray is chief executive officer of American Global Strategies LLC, a Washington-based international strategic advisory firm he co-founded with Robert C. O'Brien, who served as Trump's national security adviser. Gray served as deputy assistant to the president and chief of staff of the White House National Security Council from 2019 to 2021, overseeing the day-to-day operations of the national security adviser's immediate office as well as the NSC's budget, personnel and security functions. He is also a senior nonresident fellow at the Atlantic Council. Before becoming NSC chief of staff, Gray served as special assistant to the president for the defense industrial base at the White House National Economic Council and as the NSC's first director for Oceania and Indo-Pacific security. He also served on Trump's 2016 presidential transition team at the State Department and was a defense policy adviser to Trump's 2016 presidential campaign. 2026-08-21 13:59:55
President Lee's Approval Rating Stands at 45%, Up 1% from Last Week President Lee Jae-myung's approval rating has slightly increased, matching his disapproval rating at 45%, according to a survey released on August 21. This marks a 1 percentage point rise from the record low of 44% reported in the second week of August.The survey, conducted by Korea Gallup from August 18 to 20 among 1,004 adults aged 18 and older, found that 45% of respondents approved of the president's job performance, while another 45% disapproved. Eleven percent of respondents chose not to express an opinion.Among those who approved, the most common reasons cited were 'diplomacy' (19%), 'economy/livelihood' (11%), and 'generally doing well' or 'communication' (both at 7%). Conversely, those who disapproved primarily pointed to 'real estate policy' (28%) as the main issue, followed by 'economy/livelihood' (12%) and 'national defense/security/North Korea' (7%).In terms of party support, the Democratic Party of Korea received 41%, while the People Power Party garnered 25%, with both parties maintaining the same levels of support as in the previous survey. The Reform Party, Justice Party, and Progressive Party each received 2%, while 26% of respondents identified as undecided.This survey was conducted via telephone interviews using randomly selected virtual numbers. The margin of error is ±3.1 percentage points at a 95% confidence level, with a contact rate of 45.6% and a response rate of 10.0%. For more details, please refer to the website of the National Election Survey Deliberation Commission.* This article has been translated by AI. 2026-08-21 13:56:20
Nationwide Apartment Subscription Market Faces Decline with Single-Digit Competition Rates for 13 Months The nationwide first-choice subscription competition rate for apartments has remained in single digits for 13 consecutive months, indicating a continued slump in the subscription market.According to an analysis by Realhouse on August 21, the average first-choice competition rate for nationwide apartment subscriptions in July was recorded at 5.86 to 1, a decrease of 0.05 points from the previous month based on a 12-month moving average.The nationwide first-choice competition rate has been in single digits since recording 9.08 to 1 in July of last year. In the metropolitan area, competition rates in Seoul, Incheon, and Gyeonggi all fell compared to the previous month. Seoul's rate decreased from 112.01 to 110.87 to 1, Incheon from 4.59 to 4.23 to 1, and Gyeonggi from 2.59 to 2.57 to 1.In non-metropolitan areas, Busan saw a significant drop, with its first-choice competition rate falling to 2.14 to 1, a decrease of 1.56 points, marking the largest decline nationwide. Jeju's rate was just 0.16 to 1, remaining below the average for 12 consecutive months.Performance in individual complexes was also poor. Among the 24 complexes that announced recruitment in July, 13 failed to fill their first-choice quotas. Notably, three out of four large complexes with over 1,000 units did not meet their first-choice subscription targets.Conversely, subscription demand has been concentrated in a few complexes in Seoul. In July, only two complexes were offered for sale in Seoul, with a total of just 96 first-choice units available, yet the number of subscription applications reached 6,927. This accounted for 26.5% of the total 26,111 subscription applications nationwide during the same period.Analysts suggest that rather than a complete disappearance of subscription demand, there is a growing polarization, with demand increasingly focused on verified complexes with desirable locations and product appeal.Meanwhile, according to Real Estate 114 on August 20, the average sale price of apartments in Busan has more than doubled in four years, increasing the housing cost burden for new homes. Last year, the average sale price of apartments in Busan was 30.24 million won per 3.3 square meters, a 102% increase from 14.98 million won in 2021.Kim Seon-a, head of the subscription analysis team at Realhouse, stated, "The subscription demand itself has not disappeared; rather, it is moving toward a few verified complexes, leading to poorer performance in others. Especially in large complexes, initial poor performance can lead to unsold units, making the timing and pricing of sales critical to the success of the project."* This article has been translated by AI. 2026-08-21 13:56:00
Kwon Jin-mi of Home & Shopping Joins Campaign Against Youth Illegal Gambling Kwon Jin-mi, CEO of Home & Shopping, has joined the 'Relay Campaign to Eradicate Youth Illegal Gambling.'According to Home & Shopping, the campaign aims to raise awareness among students about the dangers of illegal online gambling and to prevent its spread. Participants post certification photos conveying messages against illegal gambling and nominate the next participant.Kwon was invited to participate by Lee Il-yong, CEO of Public Home Shopping. She has named Park Jung-min, CEO of KT Alpha, as the next participant.Kwon was appointed CEO of Home & Shopping in March 2026. She joined the company in 2011 as a product team leader at its founding and has since led the sales division.Kwon Jin-mi stated, "It is the responsibility of our entire society to protect youth from falling into illegal gambling. Home & Shopping will take the lead in creating a healthy society."* This article has been translated by AI. 2026-08-21 13:56:00
Genesis Surpasses 450,000 Sales in the U.S. After 10 Years, Expands SUV Lineup Genesis has launched the GV90, a large flagship sports utility vehicle (SUV), completing its full lineup of electric vehicles (EVs) from compact to full-size. This fall, Genesis will also introduce its first hybrid models, the GV80 and G80, as part of its strategy to strengthen its growing portfolio of eco-friendly vehicles.According to Hyundai Motor, Genesis has sold a total of 450,049 vehicles in the U.S. since its official entry into the market in 2016, as of July this year. Last year, the brand exceeded annual sales of 80,000 units for the first time, setting a record for the highest annual sales in the U.S. for five consecutive years since 2021. This year, it also achieved the highest sales for the first half of the year, with 39,088 units sold. In July alone, sales reached 6,947 units, marking 22 consecutive months of year-over-year sales growth.Analysts attribute Genesis's growth in the U.S. market to its well-rounded SUV lineup, which excels in product quality, design, and safety. Starting with a sedan-focused lineup, Genesis has expanded to include various segments and electrified models, steadily increasing its sales in a market that traditionally favors utility vehicles.Since introducing the G80 and G90 in 2016, Genesis has responded to diverse consumer demands by launching models such as the G70 in 2018, GV80 in 2020, GV70 in 2021, GV60 in 2022, and the electrified GV70 in 2023, with the GV80 Coupe set to debut in 2024. As a result, SUVs now account for approximately 61.5% of all Genesis sales in the U.S. as of July.Notably, the GV70 (including the electrified model) and GV80 (including the coupe) have recorded the highest and second-highest sales figures in the U.S., with combined sales exceeding 268,724 units, driving local sales.Genesis plans to establish a full SUV lineup that encompasses both electrified and hybrid models with the upcoming launches of the GV90 and GV60 Magma.The GV90 is Genesis's first ultra-large flagship electrified SUV, developed on the dedicated 'eMP platform.' It features the world's first independent opening hidden B-pillar coach door, the 'Neolun Arch Gate,' which provides exceptional openness and spacious entry and exit, as well as a 'roof airbag' that covers the entire roof glass to protect against rollover accidents.The GV60 Magma boasts impressive performance, achieving 0-200 km/h in 10.9 seconds and a top speed of 264 km/h, making it the most powerful electrified model from Genesis. It is equipped with dual motors that deliver a combined output of 448 kW (609 horsepower) and a maximum torque of 740 Nm. When using boost mode, it can reach a peak output of 478 kW (650 horsepower) and a maximum torque of 790 Nm for about 15 seconds.To provide exceptional product quality and a differentiated luxury brand experience, Genesis is expanding its network of dedicated showrooms across the U.S.On August 20, Genesis officially opened its 85th dedicated showroom, 'Genesis of San Bruno,' in San Bruno, California.This showroom serves as a key hub targeting customers in Northern California, conveniently located near downtown San Francisco, the airport, and Silicon Valley. Genesis aims to build a solid foundation for long-term sales growth through its network of dedicated brand locations, including the San Bruno showroom.A Genesis representative stated, 'Since entering the U.S. market in 2016, which is a key market driving the brand's global growth, Genesis has continued to grow. We will further strengthen our position as a luxury brand by expanding our dedicated showrooms and meeting the diverse demands of customers with our new lineup.'* This article has been translated by AI. 2026-08-21 13:52:00
Comico Shares Surge 27% on First Day of Trading After Stock Split Comico, a company specializing in cleaning and coating semiconductor equipment parts, saw its shares soar by over 27% on the first day of trading following a stock split.As of 1:37 PM on August 21, Comico's stock was trading at 27,700 won, up 5,900 won (27.06%) from the previous trading day, according to the Korea Exchange.The company had suspended trading since July 29 to facilitate electronic registration changes related to the stock split, which was implemented to increase the number of shares in circulation and enhance trading activity.Comico decided to lower the par value of its shares from 500 won to 200 won, increasing the total number of issued shares from 20,545,310 to 51,363,275.The stock split is expected to improve trading accessibility for investors and enhance liquidity, which likely contributed to the rise in share price.Comico has also been experiencing growth in its financial performance. Last year, the company reported consolidated revenues of 604.1 billion won and an operating profit of 110.9 billion won, both of which showed increases compared to the previous year.In the first half of this year, Comico recorded revenues of 333.0 billion won, an operating profit of 47.5 billion won, and a net profit of 26.1 billion won.The company focuses on precision cleaning and special coating of equipment parts used in semiconductor manufacturing processes, aiming to remove contaminants and enhance the lifespan and yield of these components. Additionally, Comico is expanding its manufacturing business for semiconductor equipment parts based on its cleaning and coating operations.* This article has been translated by AI. 2026-08-21 13:44:00
Korea's Drug Agency Shortens New Drug Approval Process to 10 Days The Korea Drug Agency (KFDA) is set to ease administrative burdens on the pharmaceutical industry by changing the approval process for minor modifications to a reporting system. The approval processing time for clinical trial plans that pass preliminary review will also be reduced by up to one-third.On August 21, the KFDA announced a legislative notice for amendments to the 'Regulations on the Safety of Medicines and Related Products,' inviting public comments until October 21.The key focus of the amendments is to streamline the handling of minor changes due to administrative district reorganizations. Previously, if the location of a drug manufacturing, import, or contract manufacturing company changed due to such reorganizations, a modification approval or notification was required. Under the new rules, companies will only need to report these changes within a year. Similarly, changes in the location of clinical trial plans due to administrative district changes will now be handled as reports instead of requiring modification approval. Changes in the locations and representatives of clinical trial specimen analysis institutions and non-clinical trial conducting institutions will also shift from modification designation to reporting.A significant change that the pharmaceutical industry will notice is the reduction in the approval time for clinical trial plans. Currently, the approval process for clinical trial plans and modifications takes 30 days, regardless of the preliminary review results. After the amendments, if the preliminary review confirms suitability, the processing time will be cut to 10 days. This change is part of the KFDA's '60 Key Tasks for Food and Drug Safety,' aimed at accelerating the clinical entry of new drug development companies.While simplifying procedures, the KFDA plans to strengthen drug safety management. In cases where safety or efficacy issues arise with domestically distributed medicines, the deadline for the responsible party to submit a recall plan will be shortened from the current five days to three days. Additionally, actions that mislead consumers into thinking they are being directly advertised by professionals, such as doctors, using artificial intelligence (AI) will be prohibited. The manufacturing and quality management standards for clinical trial medicines will be aligned with international standards by reflecting the revised guidelines of the Pharmaceutical Inspection Co-operation Scheme (PIC/S).The KFDA expects that these amendments will alleviate unnecessary regulations and administrative burdens on the pharmaceutical industry while enhancing the quality and safety management of medicines.* This article has been translated by AI. 2026-08-21 13:36:00
Japanese Households and Businesses Accelerate Shift from Yen to Foreign Currency Amid chronic yen depreciation, Japanese households and businesses are increasingly diversifying their yen assets into foreign currencies due to concerns that the yen's value may decline further. The increase in foreign currency deposits from April to June this year marked the largest since the full liberalization of foreign currency deposits in 1998.According to the Nihon Keizai Shimbun (Nikkei) on August 21, the average balance of foreign currency deposits at domestic banks in Japan for the April to June period was approximately 26.1 trillion yen, an 18% increase from the same period last year. Even excluding the impact of the strong dollar, the inflow was significant. The increase of 3.9772 trillion yen exceeds Japan's trade deficit for the fiscal year 2025, which is projected at 1.7 trillion yen. The government and the Bank of Japan intervened in the market to purchase yen on seven occasions from 2022 to 2024, averaging 3.5 trillion yen per day. In terms of the increase in foreign currency deposits alone, this amount surpasses the average daily yen purchase intervention by authorities.Individuals' foreign currency deposits reached approximately 6.7 trillion yen, an 8% increase. Sony Bank reported that its foreign currency deposit balance reached 800 billion yen in May, surpassing 700 billion yen for the first time in 15 months since February 2025. While foreign currency trading has traditionally been dominated by low-cost FX margin trading, Nikkei noted that the investor base is expanding, particularly among older individuals with surplus retirement funds. Funds are flowing not only into foreign currency deposits but also into overseas stocks. According to the Bank of Japan, the balance of household investments in foreign securities was 46.4618 trillion yen at the end of March, a 23% increase over the past year.Nikkei highlighted that despite the yen already being at a historically low level, the demand for foreign currency continues. In the past, Japanese individual investors often engaged in 'buying on dips' when the yen appreciated, purchasing foreign currencies like the dollar at relatively lower prices. However, the current trend is different. Investors are buying foreign currencies at high prices without waiting for a rebound in the yen. Nikkei assessed that the expectation of further declines in the yen's value is driving this demand for foreign currency. The currencies being purchased are also diversifying beyond just the dollar. Urata Takafumi, a senior economist at SMBC Trust Bank, noted, "Since the Trump administration, there has been an increase in depositors diversifying into various currencies, including the euro."Businesses are also increasing their foreign currency holdings, anticipating continued yen depreciation. From April to June, corporate foreign currency deposits rose to approximately 19.3 trillion yen, a 22% increase from the previous year. Ueno Tsuyoshi, a senior economist at the NLI Research Institute, told Nikkei, "The deep-rooted expectation that the yen will weaken further is causing export companies to delay converting the dollars they earn into yen." He also noted that companies considering overseas expansion are securing the necessary dollars in advance. Japanese firms are also increasing the issuance of foreign currency-denominated corporate bonds.The yen's value fell to as low as 163 yen per dollar in July, the lowest level in 39 years. Although the government and the Bank of Japan intervened to purchase yen at the end of July, the value remains significantly below the pre-2011 peak of around 75 yen per dollar following the Great East Japan Earthquake. Despite the short-term interest rate swap market reflecting an 80% probability of a rate hike by the Bank of Japan in September, yen purchases have not gained traction. This is due to the structural supply and demand dynamics where households and businesses are buying foreign currency, which in turn puts pressure on the yen. The cycle of yen depreciation concerns leading to foreign currency purchases, which then further fuels yen depreciation, poses a challenge. The issue is that the consequences of this cycle do not remain confined to the financial markets.On August 20, the Japanese Ministry of Finance announced that imports in July totaled 12.1462 trillion yen, a 27.8% increase from the same month last year, marking a record high for the second consecutive month. Notably, oil imports surged to 1.4089 trillion yen, an 87.8% increase. While the import volume increased by only 5.5%, the yen-denominated price of oil rose by 78.0%. This increase is attributed to rising oil prices due to instability in the Middle East, compounded by yen depreciation.The increased import costs from yen depreciation and rising oil prices indicate that Japan's income is flowing out to foreign markets. The Japanese government is continuing electricity and gas price subsidies from July to September, but once these subsidies end, rising energy prices could translate into inflationary pressures.* This article has been translated by AI. 2026-08-21 13:32:00
KOSPI Rises 0.4% Despite Foreign and Institutional Selling; KOSDAQ Plummets Over 4% The KOSPI index reversed its early losses to rise 0.4% on August 21, despite selling pressure from foreign and institutional investors. Following a more than 5% surge the previous day, profit-taking and concerns over rising U.S. long-term interest rates weighed on the market. However, strong performances from major semiconductor stocks like Samsung Electronics and SK Hynix, along with financial shares, helped lift the index.As of 1:21 p.m. KST, the KOSPI was trading at 6,884.31, up 31.73 points (0.46%) from the previous trading day.The index opened at 6,759.95, down 92.63 points (1.35%), but managed to reduce its losses and turn positive during the session.In the securities market, individual investors sold a net 472.6 billion won, while foreign and institutional investors sold 72.1 billion won and 273.1 billion won, respectively. Following the previous day's surge, profit-taking by individuals continued to exert downward pressure.Nonetheless, the gains in major semiconductor stocks and financial shares were instrumental in the KOSPI's recovery. Among the top market capitalization stocks, Samsung Electronics rose 2.95%, SK Hynix increased by 3.02%, Hyundai Motor gained 0.24%, Samsung C&T climbed 4.55%, Samsung Life surged 6.40%, and KB Financial rose 1.88%. In contrast, SK Square fell 0.36%, Samsung Electro-Mechanics dropped 5.59%, LG Energy Solution declined 3.07%, Samsung Biologics decreased 1.65%, and Hanwha Aerospace plummeted 7.28%.Samsung Electronics and SK Hynix benefited from improved investor sentiment in the semiconductor sector following Micron's announcement of a significant investment in artificial intelligence. However, some tech stocks, including Samsung Electro-Mechanics, faced declines due to weakened investor sentiment for growth stocks amid rising U.S. long-term interest rates and profit-taking after the previous day's gains.At the same time, the KOSDAQ index was trading at 801.43, down 39.46 points (4.69%) from the previous day. The KOSDAQ opened at 824.05, down 16.84 points (2.00%), and continued to widen its losses.In the KOSDAQ market, individual investors were net buyers, purchasing 638 billion won, while foreign and institutional investors sold 347.7 billion won and 292.2 billion won, respectively.Among the top market capitalization stocks, most were in decline, including Alteogen (-6.33%), EcoPro (-6.13%), EcoPro BM (-7.36%), Rainbow Robotics (-3.39%), JUSUNG Engineering (-6.09%), HLB (-2.63%), Wonik IPS (-7.46%), Rino Technology (-6.19%), EoTechnics (-3.73%), and Peptron (-2.96%).* This article has been translated by AI. 2026-08-21 13:28:20
Megazone Cloud Builds AX System for Nongshim Group Megazone Cloud announced that its affiliate, Megazone Soft, has established an AX (AI Transformation) system based on Google Workspace (GWS) for the Nongshim Group.The two companies held a GWS launch ceremony at Nongshim's headquarters on the 20th. Key attendees included Nongshim CEO Cho Yong-cheol, Megazone Cloud CEO Yeom Dong-hoon, and Shannon Tong, head of Google Workspace sales for North Asia.Nongshim Group plans to enhance communication and collaboration across geographical and organizational boundaries using the smart collaboration platform GWS, aiming to boost productivity and innovate work processes.Megazone Soft has completed the GWS system implementation for Nongshim Group's 14 domestic subsidiaries and 7 overseas entities. This project includes the migration of existing data to Google Drive, integration of legacy systems and third-party solutions with GWS, and a large-scale AI transformation initiative that redefines work processes across the group.Through this project, Megazone Soft focused on delivering three core values to Nongshim Group: 'real-time collaboration' that simplifies reporting through simultaneous editing and instant feedback, 'assetization of information' that systematically accumulates group knowledge and enhances search efficiency through cloud-based document management, and the elimination of spatial and temporal constraints on work.Additionally, the migration of approximately 26 million documents from Nongshim Group's existing centralized document server to Google Drive has been completed. The integration of Google Gemini across various business areas, including marketing, sales, supply chain, operations, HR, and R&D, has also laid the groundwork for maximizing productivity and profitability through AI.Megazone Soft has established a governance system optimized for global enterprises by implementing a 'single tenant (dedicated infrastructure) and multi-domain (independent data storage for subsidiaries)' architecture. This allows Nongshim Group companies to communicate and collaborate seamlessly within a single GWS tenant while maintaining independent operations regarding data access and security through their respective domains. New subsidiaries can be established, and mergers and acquisitions can be integrated into the same work environment within 24 hours without the need for separate infrastructure.Megazone Soft also provided change management consulting and training to support AI-based work innovation. Customized training programs were designed considering job levels, roles, and languages to effectively disseminate changes across the large organization, incorporating AI systems into real work scenarios.Jin Geon, CEO of Megazone Soft, stated, "We will continue to support Nongshim Group not only in successfully transitioning to an AI-native company but also in maximizing efficiency and productivity by continuously experiencing new AI technologies."Recently, Megazone Soft has expanded its Google Workspace implementation business into an enterprise AX initiative utilizing generative AI. In April, it signed a strategic partnership agreement with Google Cloud, identifying AI, data, security, and Google Workspace as four key areas of collaboration. The two companies plan to jointly explore industry-specific AX cases that combine Google’s generative AI Gemini and cloud services tailored to individual business environments. In June, Megazone Soft also unveiled governance strategies for applying Gemini-based AI agents in real work scenarios to corporate executives, further broadening its business scope from simple collaboration tool implementation to AI-driven work innovation.The company explained, "As a Google Premier Partner, we have established a dedicated GWS operation team and provide various services based on GWS and integrated technical services for GCP (Google Cloud Platform), particularly excelling in enterprise GWS implementation projects among domestic Google partners."* This article has been translated by AI. 2026-08-21 13:12:00