Hanwha foots full bill for Seoul fireworks festival SEOUL, September 07 (AJP) - South Korea's Hanwha Group has footed the entire 13 billion won ($9.7 million) bill for this year's Seoul International Fireworks Festival, keeping alive a tradition spanning more than two decades as the explosives-rooted conglomerate rises as one of the world's fastest-growing defense suppliers. About 1 million spectators packed Yeouido Hangang Park and surrounding stretches of the Han River on Saturday for the 22nd festival, according to H September 7, 2026

Researchers propose treating cancer by refolding genome SEOUL, September 07 (AJP) - How the genome is folded inside a cell can drive cancer without any change to the DNA sequence itself, and a review by two South Korean researchers argues that the folding should be treated as a target for cancer drugs. The review appeared in June in Experimental & Molecular Medicine, a journal published by the Korean Society for Biochemistry and Molecular Biology. Its authors, Jang Sun-young and Yoo Kyung-hyun, work in the Laboratory of Biomedical September 7, 2026

Robotics may be the destination for Louisiana steel mill SEOUL, September 07 (AJP) - The $5.8 billion Louisiana mill backed by South Korea's two biggest steelmakers is designed primarily to feed America's auto industry, but its largest customer and investor Hyundai Motor Group has a deeper ambition for the metal — robotics. Hyundai Motor Group Chairman Chung Eui-sun said Sept. 4 that steel from Hyundai-POSCO Louisiana Steel (HPLS) should eventually find its way into Atlas, the humanoid robot being developed by group-owned Bo September 7, 2026

S. Korea, US, Japan launch Freedom Edge without US carrier SEOUL, September 07 (AJP) - South Korea, the United States and Japan began their annual Freedom Edge exercise Monday near Jeju Island, with the five-day multidomain drill set to run without a U.S. aircraft carrier for a second straight year. The five-day exercise, which runs through Sept. 11, involves major naval and air assets from the three countries, South Korea's Joint Chiefs of Staff said. Six warships, including Aegis destroyers, as well as maritime patrol aircraft, fig September 7, 2026

USD/KRW spikes as NPS reportedly halts FX hedging SEOUL, September 07 (AJP) - The South Korean won abruptly reversed direction Monday after testing a near two-year high against the U.S. dollar, following a report that the National Pension Service (NPS) had suspended foreign-exchange hedging activity that helped support the currency during its sharp slide earlier this year. The dollar-won rate jumped to around 1,346 won by 12:30 p.m. after falling into the 1,336 range earlier in the session, reversing by roughly 10 won from its intr September 7, 2026

South Korea leans on AI boom as consumer recovery lags SEOUL, September 07 (AJP) - South Korea's economy is riding a wave of artificial intelligence investment that has powered exports and factory equipment spending to blistering growth, even as the windfall struggles to reach ordinary households, the state run Korea Development Institute (KDI) said. In its September economic assessment released Monday, the KDI said the recovery remains narrowly anchored to sectors tied to the global AI build-out. Data said that sectors including September 7, 2026

KOSPI nears 6,900 on chip rally SEOUL, September 07 (AJP) - South Korean KOSPI jumped nearly 3 percent Monday morning as foreign and institutional investors poured money into semiconductor heavyweights on renewed AI euphoria fueled by Nvidia's aggressive investment push. The benchmark KOSPI stood at 6,880.29 as of 10:30 a.m., up 2.9 percent from Friday's close. The index rose as high as 6,923.64, or about 3.5 percent, earlier in the session before pulling back. Its intraday low was 6,867.90. Foreign September 7, 2026

Lee's approval rating sinks further SEOUL, September 7 (AJP) - President Lee Jae Myung's approval rating fell further, extending its downward spiral for an eighth straight week, a poll released on Monday shows. According to pollster Realmeter's survey of more than 2,500 adults nationwide conducted last week, 37.4 percent of respondents said Lee was doing a good job, down 1.5 percentage points from the previous week and marking an eighth consecutive week of decline. It was also the lowest level since he too September 7, 2026

Russia ships Vostok oil as South Korea tests Arctic route SEOUL, September 07 (AJP) - Russia has shipped the first crude oil from its Vostok Oil project through the Arctic, highlighting Moscow's push to expand the Northern Sea Route just as South Korea conducts its first trial voyage by a container ship along the same corridor. The first batch of crude from Vostok Oil, a major development project in Russia's Arctic Taimyr region, was loaded Friday at a newly built terminal in Sever Bay onto the ice-class tanker Valentin Pikul, acco September 7, 2026

KRW/USD enters 1,330 range for first time in 23 months SEOUL, September 07 (AJP) - The South Korean won climbed to its strongest level against the greenback in nearly 23 months Monday as exporters rush to convert their dollar holdings for fiscal settlement. The USD/KRW exchange rate traded at around 1,335.9 won as of 10 a.m. The pair entered the 1,330 range for the first time since Oct. 4, 2024, when the exchange rate traded between 1,331 and 1,335 won before closing daytime trading at 1,333.7 won. The won's advance stood out September 7, 2026