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President Lee Jae-myung: My Term is Constitutionally Limited, Restraint Needed President Lee Jae-myung stated on September 9 that his term is clearly limited by the Constitution, so it is essential to start quickly to enjoy its benefits for a long time.During a luncheon with expatriates at a hotel in Paris, part of his state visit to France, he noted, Even if good relations are established in the latter half of my term, the opportunities to utilize them will inevitably be limited. His comments regarding term limits were made in the context of explaining his proactive approach to diplomatic engagement since taking office.President Lee emphasized that meetings between heads of state and diplomatic engagement provide South Korea, known as an open trading nation, with valuable opportunities for trade, investment, economic cooperation, and security collaboration.He added, The countries I have visited as part of my initiatives have seen a significant increase in export growth, and noted that private exchanges have increased, corporate cooperation has flourished, and the expatriate community has become more active.President Lee has expressed his intention to expand meetings with local expatriates during his overseas trips.I want to hear the voices of our expatriates, he said, adding, If necessary, please submit notes, and I will review them individually and inform you of the results.He also assured that the government will continuously address issues affecting the expatriate community, such as dual citizenship, overseas voting, and immigration and adoption matters, promising to engage in thorough dialogue between the French authorities and the South Korean government regarding the living conditions of expatriates.Furthermore, he remarked, South Korea is undergoing tremendous changes as of the night of December 3, 2024, experiencing revolutionary transformations, while cautioning that the French Revolution also faced backlash when the situation was pushed too far in the process of creating a new system.He stressed the need for restraint during times of abundant energy, stating, We must move in a desirable direction while minimizing pain and resistance with the consent of many people.He added, We must not repeat the mistakes of the past, emphasizing the importance of being cautious.Regarding South Koreas international standing, he noted, There are significant changes occurring in advanced industries, cultural arts, and international status, akin to a transformation of the heavens and the earth, assuring that he will work diligently to ensure that expatriates do not have to worry about South Korea.On Korea-France relations, he remarked, It is a remarkable achievement that the South Korean president is visiting France shortly after President Macrons state visit to South Korea, highlighting the many areas of mutual interest between the two countries.He also referenced the joint hosting of a summit on the film and video sectors by the two leaders, stating, This not only showcases the international status of South Korean culture and arts but also indicates where France and South Korea will focus their efforts moving forward. September 9, 2026 2 -
Seoul weighs coalition role in Hormuz amid U.S. pressure, Iran warnings SEOUL, September 09 (AJP) - South Korea is keeping its options open on a possible military contribution to the Strait of Hormuz, but President Lee Jae Myung's talks in Paris risk sending the impression to Washington that Seoul is placing greater weight on a French-British multinational mission. The framework could offer Seoul a middle ground between mounting U.S. pressure for support and Iran's warnings against military involvement. “The broad direction for international cooperation has been set, but details are still under review and nothing has been decided,” a presidential official said Tuesday following Lee's summit with French President Emmanuel Macron in Paris. The official stressed that the discussion should not be interpreted as a decision to send South Korean forces to the region. Lee, however, made clear that Seoul sees stability in the strategic waterway as an important national interest. “South Korea and France will continue close cooperation to restore freedom of navigation in the Strait of Hormuz and stabilize global supply chains,” Lee said after the summit. The presidential office said Lee approached the talks on the principle that South Korea's contribution should be determined based on national interests and public consensus. Macron raised the prospect of cooperation under a broader international framework. “The multinational mission is peaceful,” Macron said, adding that France and South Korea could cooperate once the necessary agreements are in place. France and Britain have been leading efforts to establish an independent, defensive multinational mission aimed at restoring safe navigation through Hormuz. South Korea has already backed that framework politically. It endorsed an April leaders' statement establishing the initiative and was among the countries supporting a subsequent multinational mission statement in May. Neither commitment, however, amounted to a decision to deploy South Korean forces or military assets. France has maintained a cautious line since the early months of the Iran war, supporting diplomatic efforts to end the conflict while keeping the proposed Hormuz mission separate from direct U.S. military operations against Tehran. Such stance has at times put Paris and London at odds with Washington, with Trump publicly criticizing NATO allies including France and Britain for failing to provide greater support for the U.S. war effort against Iran. Macron and British Prime Minister Keir Starmer in April co-hosted a Paris conference bringing together around 50 non-belligerent countries and backing a strictly defensive multinational mission once security conditions allowed. The proposed force was designed to protect commercial vessels, restore confidence among shipowners and insurers and conduct mine-clearing operations rather than take part in combat against Iran. Macron reiterated that approach at the G7 summit in June, describing the French-British initiative as “multinational, independent and defensive” and saying around 20 countries had expressed a firm commitment to contribute. France has said the mission could protect merchant shipping and support mine-clearing once conditions in the strait permit. The government recently sent a Defense Ministry fact-finding team to the United Arab Emirates to assess conditions in and around the strait, but the presidential office said the move was only “part of the review process” and did not presuppose a deployment. Asked whether the issue could be discussed at a National Security Council standing committee meeting on Sept. 17, the official said it was difficult to discuss a schedule because “nothing has been decided.” Seoul's caution comes as pressure intensifies from both Washington and Tehran. A White House official said Sunday that the United States was “still waiting” for South Korea to commit resources to the region, after U.S. President Donald Trump repeatedly singled out Seoul over its reluctance to support U.S. efforts surrounding Hormuz. Trump has pressed countries heavily dependent on Middle Eastern energy, including South Korea and Japan, to contribute to securing the waterway since the war with Iran began on Feb. 28. Iran, meanwhile, has warned Seoul against military involvement. “Military presence or participation in operations in the Persian Gulf and Strait of Hormuz would inevitably be seen as directly supporting the aggressor,” Iranian Foreign Ministry spokesperson Esmail Baghaei said, warning of “serious consequences.” Iran’s judiciary chief Gholam-Hossein Mohseni-Ejei abruptly canceled a planned visit to Seoul next week, as South Korea weighs a possible Hormuz deployment. The reason was not officially disclosed. “We told them that the matter is under review and nothing has been decided,” the presidential official said. The competing pressure leaves the Lee administration with a difficult calculation: how far to support its U.S. ally and help secure a waterway vital to South Korea's energy supplies without becoming directly entangled in the Iran war. Defense experts say months of caution may have brought Seoul to the point where a limited contribution deserves serious consideration. “We have reached a point where it is time to consider a deployment,” Choi Ki-il, a professor of military studies at Sangji University and head of the Korea Defense Industry Research Institute, told AJP. Choi said any mission should focus on protecting South Korean vessels and crews and supporting freedom of navigation rather than taking part in direct combat against Iran. “Even if we deploy, our role should be limited to protecting our own ships,” Choi said. Possible assets reported in recent days have included P-8A Poseidon maritime patrol aircraft, the Navy's 11,000-ton ROKS Soyang fast combat support ship and mine-clearing capabilities. The government has stressed that none has been selected. One potential middle ground would be participation in the French-British multinational mission rather than an independent South Korean operation. “If South Korea participates, it should not do so independently, but as part of a coalition force,” Kim Hong-yoo, a professor at Kyung Hee University and a policy committee member of the Korea Defense Industry Association, told AJP. Kim said such a framework could allow Seoul to take on logistics or other support functions rather than lead a separate Korean operation. He also argued that Washington's requests are difficult for Seoul to ignore because the United States, South Korea's treaty ally, is directly involved in the conflict. “For the government, this is a very difficult decision,” Kim said. Kim said an NSC discussion would become more relevant if the government decides to deploy forces, as Seoul would then have to determine which military assets could be spared without weakening its defense posture on the Korean Peninsula. For now, the presidential office is drawing a line between supporting international efforts to secure Hormuz and committing South Korean forces to them. Seoul's eventual choice will have to balance its U.S. alliance and the economic importance of keeping Hormuz open against military readiness on the Korean Peninsula, relations with Iran and domestic public opinion. AJP Takeaways - Seoul says no decision has been made on deploying military assets despite deeper talks with France and other partners. - French-British defensive mission offers potential middle ground between U.S. demands and Iran's warnings. - South Korea has already backed the multinational framework politically, leaving the scale and form of any operational contribution unresolved. September 9, 2026 1 -
New Agreements Needed for CPTPP Membership "If Mexican agricultural products come in, our farmers will face even more difficulties. While it is said to be necessary for the development of the Korean economy, I fear that the measures for farmers will be mere window dressing, just like during the Korea-China Free Trade Agreement (FTA) negotiations."This was the sentiment expressed by an agricultural industry representative during a recent meeting. The agricultural sector is closely monitoring the governments push for membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Following a press conference attended by hundreds of farmers, large-scale protests are also being considered.The discussion was ignited by Minister of Trade, Industry and Energy Kim Jeong-kwan, who stated during a presidential briefing on August 4 that the government would consider joining the CPTPP to secure new markets in ASEAN and Mexico and to expand exports of K-content. He further formalized the discussion at a forum, asserting, "It is rather strange for a trading nation like Korea not to join the CPTPP."The agricultural sector, which had felt relieved after successfully blocking agricultural imports during tariff negotiations with the United States, was taken aback. Joining the CPTPP could allow agricultural and fishery products from countries without an FTA with Korea to enter at lower tariffs. Since Korea has not signed an FTA with countries like Mexico among the CPTPP members, there are concerns that products such as Mexican peppers and avocados could enter Korea duty-free.The potential acceleration of market opening during the CPTPP membership process is also heightening farmers concerns. The CPTPP has a higher rate of tariff elimination for agricultural products among member countries compared to existing FTAs, and it is more challenging to set exceptions. This raises fears that the impact on farmers could be greater than that of past bilateral FTAs.The concerns of the agricultural sector regarding CPTPP membership appear to be valid. Recent analyses suggest that the decrease in agricultural production could be greater than during the 2022 discussions on CPTPP membership, as the number of member countries and the scale of trade have both increased since then. Additionally, the fact that the fund for rural cooperation established during the Korea-China FTA negotiations only raised about 30% of its target amount remains a significant concern. This has led to widespread skepticism in the agricultural community about the effectiveness of any proposed measures.However, many experts believe that Koreas membership in the CPTPP is inevitable. Free trade agreements are seen as one of the avenues to maximize exports. Notably, Mexico is a key export market for major Korean products such as automobiles, auto parts, steel, and machinery, and it could serve as a gateway for Koreas entry into North America. This could signal a new direction for the Korean economy in search of growth engines beyond semiconductors.The economic benefits are also expected to be substantial. The Korea Institute for International Economic Policy (KIEP) previously analyzed that joining the CPTPP could increase Koreas real GDP by 0.33% to 0.35% and consumer welfare by $3 billion. The Korea Institute for Industrial Economics and Trade also projected that Koreas net exports could increase by an average of $600 million to $900 million annually over 15 years if it joins.Nevertheless, there should be no agreements that sacrifice the agricultural sector unilaterally, as it is a vital national industry responsible for the countrys food supply. Practical safety measures must be established to minimize the damage to farmers from market opening. The previous voluntary contributions to the rural cooperation fund have proven ineffective.There needs to be a new agreement that can be legislated. Currently, the United States is pushing for the Farm, Food, and National Security Act to elevate agriculture as a national industry. The Korean government can learn from this. If it pursues legislation and corresponding policies, persuading farmers may not be as difficult as it seems.Some experts emphasize the need to treat farmers like quasi-public servants. Given the importance of agriculture in the era of climate crisis, the government should more actively support their livelihoods, with suggestions including increasing direct payments.The significance of agriculture is growing in the context of the climate crisis. It is widely recognized that enhancing food self-sufficiency is crucial to avoid being swayed by external variables. If trade is restricted to protect farmers, economic growth could be hampered. It is essential to devise new measures for the development of the agricultural sector while also ensuring the creation of national wealth. Membership in the CPTPP is no longer a matter of avoidance or delay.* This article has been translated by AI. September 9, 2026 1
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KOSPI Recovers 7000 Points After 34 Trading Days, Boosted by AI and Semiconductor Stocks The KOSPI index has reclaimed the 7000-point mark for the first time since July 23, recovering after 34 trading days. On September 9, the index closed at 7051.64, up 1.40% from the previous trading day, driven by gains in artificial intelligence (AI) and semiconductor stocks. Despite external challenges such as rising oil prices from the Middle East and increasing U.S. Treasury yields, institutional investors net buying of over 900 billion won absorbed significant selling from individual investors.According to the Korea Exchange, individual and foreign investors sold a net 2.4971 trillion won and 170.2 billion won, respectively, while institutions purchased a net 900.5 billion won. The KOSDAQ also rose, closing 2.28% higher at 830.37.Semiconductor stocks led the markets rise, with the Philadelphia Semiconductor Index (SOX) increasing by 1.3% overnight, marking its fourth consecutive day of gains. SK Hynix saw a 3.51% increase, fueled by ongoing expectations for AI growth and memory demand, which also benefited companies like Samsung Electro-Mechanics, which rose by 2.48% as part of the AI infrastructure value chain.According to Kang Jin-hyuk, a researcher at Shinhan Investment Corp, As top-down and bottom-up factors are in a tug-of-war, we saw a rebound in buying following the previous days decline, alongside strong performance in AI infrastructure. The momentum from GPT-6 Astras memory continues, leading to strength in the AI value chain centered around Samsung Electronics and SK Hynix.The upward trend that began in semiconductors spread across various sectors. Stocks in secondary batteries, such as Samsung SDI (up 8.30%) and LG Energy Solution (up 6.46%), gained on expectations of benefiting from U.S. measures against Chinese battery companies. Additionally, Hanwha Oceans announcement of being selected as the preferred bidder for a 680 billion won Thai frigate project boosted shipbuilding stocks, while rising oil prices led to gains in refining and chemical stocks like SK Innovation (up 11.23%) and S-Oil (up 4.08%).Market analysts believe that despite ongoing external uncertainties, the performance and demand momentum of AI-related stocks will provide upward momentum for the domestic stock market. They are particularly focused on whether the KOSPI can stabilize above the 7000-point level as sector-specific positive news leads to a rotation of investments.Lee Kyung-min, a researcher at Daishin Securities, stated, Despite unstable external conditions, the growth potential and demand momentum of AI have acted as upward pressure on related sectors. The rotation of investments based on sector-specific positive news has led to a differentiated market performance.In the Seoul foreign exchange market, the won-dollar exchange rate closed at 1336.1 won, down 9.5 won from the previous trading day.* This article has been translated by AI. September 9, 2026 1
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Saemangeum Development Corporation Participates in World Smart City Expo Saemangeum Development Corporation is showcasing the future of the Saemangeum smart waterfront city at the 2026 World Smart City Expo.The corporation announced on September 9 that it will introduce plans for smart city services in the first city being developed in Saemangeum, the Saemangeum Smart Waterfront City, during the expo, which runs until September 11.The World Smart City Expo is the largest international smart city event in Asia, co-hosted by the Ministry of Land, Infrastructure and Transport, the Ministry of Science and ICT, and Busan Metropolitan City. Saemangeum Development Corporation has consistently participated in this event over the past four years to promote the Saemangeum smart waterfront city.Last May, the corporation changed the development concept of the waterfront city to Creating Saemangeum First City with Businesses. Since then, it has established three key development strategies: a business-supporting hinterland city, a livable luxury city, and a uniquely attractive city, along with a basic plan for the smart city.This exhibition will focus on the smart city plan for Saemangeum, total mobility across land, sea, and air, and smart safe city initiatives, presenting the future vision of the smart waterfront city and various smart services.Additionally, the corporation plans to showcase some of the AI hydrogen city spatial implementation plans and priority business plans linked to Hyundai Motor Groups announcement of a 9 trillion won investment in Saemangeum earlier this year.As Saemangeum transitions into a complex development site with industrial complexes, hinterland cities, and mobility and energy infrastructure, the execution of the smart city concept is expected to be a key factor in its future competitiveness.Na Kyung-kyun, president of Saemangeum Development Corporation, stated, The Saemangeum Smart Waterfront City, the first city in Saemangeum, marks the starting point for a future-oriented city. We will actively support the creation of smart cities and AI hydrogen cities in collaboration with Hyundai Motor Group and related agencies.* This article has been translated by AI. September 9, 2026 1
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SBI Savings Bank First in Korea to Achieve International Customer Satisfaction Certification SBI Savings Bank announced on September 9 that it has become the first bank and savings bank in South Korea to obtain the international standard certification for customer satisfaction management, known as ISO10002.ISO10002 is a standard established by the International Organization for Standardization (ISO) that recognizes organizations with systematic and fair processes for handling customer requests and complaints. In South Korea, the certification is granted after an evaluation by the Korea Productivity Center, which operates under the Ministry of Trade, Industry and Energy.SBI Savings Bank explained that it received the certification due to its recognized processes for handling customer complaints and its management system aimed at enhancing customer satisfaction.With this certification, SBI Savings Bank aims to increase the reliability of its complaint handling procedures, proactively prevent customer dissatisfaction, and strengthen its rapid complaint resolution system.Kim Moon-seok, CEO of SBI Savings Bank, stated, We recognize customer-centric management as a core value and are making company-wide efforts to enhance customer satisfaction. We will listen more closely to our customers voices and treat them as valuable assets for our growth, striving to become a trusted financial institution.* This article has been translated by AI. September 9, 2026 1
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Korea and Africa Strengthen AI Cooperation with AfDB's AI Hub in Korea Korea and Africa are expanding their economic cooperation, focusing on artificial intelligence (AI) and digital infrastructure, as they mark the 20th anniversary of the Korea-Africa Economic Cooperation (KOAFEC). An AI hub of the African Development Bank (AfDB) will be established in Korea, alongside the expansion of development cooperation projects, including 13 initiatives across seven sectors, including AI and digital technology.The Ministry of Economy and Finance announced that the 8th KOAFEC Ministerial Meeting was held on September 9 at the Grand Walkerhill Hotel in Seoul. Officials from finance and ICT ministries of 45 African countries attended the meeting, where they discussed the theme of Africas Great Transformation through AI and Digital Infrastructure.Based on the discussions, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol and AfDB President Akinwumi Adesina adopted the 2026 KOAFEC Joint Declaration. They agreed to expand cooperation in various fields, including industrialization, education, health, and agriculture, centered on the AI ecosystem and digital infrastructure.Additionally, they prepared a 2027/28 KOAFEC Action Plan outlining cooperation directions for the next two years and approved 13 trust fund projects in seven areas: AI and digital, urban development, education and capacity building, agriculture, energy, environment, and health. Domestic AI and digital innovation institutions and companies will participate as collaborating entities in these projects.The development cooperation framework will also be strengthened. Koo and Adesina signed a Letter of Intent (LOI) to enhance the linkage of development cooperation measures.Both sides will utilize the KOAFEC trust fund to identify demand-driven projects and expand policy consulting and capacity building, while continuing cooperative financing between the Economic Development Cooperation Fund (EDCF) and AfDB in key areas such as AI, critical minerals, culture, and climate. They also plan to enhance joint research and policy consulting through the Knowledge Sharing Program (KSP).A platform dedicated to Korea-Africa AI cooperation will be established. The two sides signed a Letter of Intent to establish the Korea-Africa AI Hub in Korea, aiming to connect Koreas AI capabilities with AfDBs African network to support Africas AI transformation and bilateral AI cooperation.Furthermore, the governments ongoing global AI hub cooperation will be expanded to include Africa. The government has been working on establishing AI cooperation centers with the World Bank (WB), Asian Development Bank (ADB), Inter-American Development Bank (IDB), European Bank for Reconstruction and Development (EBRD), and Central American Bank for Economic Integration (CABEI). The participation of AfDB will further expand the AI cooperation network with major multilateral development banks (MDBs).Cooperation at the country level has also been specified. Koo met with Botswanas Vice President and Minister of Finance, Ndaba Gaolathe, to discuss ways to identify cooperation projects focused on the Botswana Economic Transformation Program (BETP) for industrial diversification and enhancement of critical mineral supply chains. He also discussed the smooth implementation of the Tanzania AI and Digital Technology Education Institution Construction Project, the first pilot project of the K-AI package, with Tanzanias Minister of Information and Communication, Angela Jasmine Mbelwa Kairuki.AI cooperation will also extend to the private sector. The government plans to support African startups by providing Korean GPU and NPU-based cloud infrastructure and technology through the KOAFEC trust fund, facilitating the development of AI products and services tailored to local demand in collaboration with Korean companies through the K-AI Cloud Voucher program.In Korea, companies like Ellice Group will provide AI cloud services, while HealthOnCloud and Baro AI will participate in technology and service development with African startups. Future plans include selecting additional participating companies and supporting business matching and joint ventures to connect with local commercialization.During his opening remarks, Deputy Prime Minister Koo emphasized the three key areas of cooperation: expanding AI infrastructure, utilizing AI solutions across sectors, and nurturing AI talent, proposing to develop specific cooperation projects, including the K-AI package.On September 10, the KOAFEC Business Innovation Forum, country-specific investment briefings for African nations, and one-on-one business meetings between Korean and African companies will be held to explore concrete investment and business opportunities.* This article has been translated by AI. September 9, 2026 1
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Lotte Hosts Global Job Fair in Indonesia, Aiming to Hire 300 Local Talents Lotte is accelerating its efforts to recruit local talent in Indonesia. The company plans to hire an additional 300 employees this year to strengthen its business foundation in the country, which has expanded its operations from retail to chemicals and logistics. On September 9, Lotte held the 2026 Lotte Global Job Fair in Jakarta, Indonesia. Nine subsidiaries, including Lotte Chemical, Lotte Department Store, Lotte Mart, and Lotte Global Logistics, participated in the event. The fair attracted over 600 local job seekers, who were introduced to the groups major businesses and engaged in recruitment consultations and mock interviews with current employees. Promotional booths and interactive events were also set up for each subsidiary.Dimas Saputra, a participant in the job consultations, said, It was great to hear specific information about the roles and hiring processes from current employees. This job fair helped me understand Lottes diverse businesses and roles, which will be very helpful as I prepare for future employment. This marks Lottes second global job fair abroad, following an event in Hanoi, Vietnam, last August. Indonesia was chosen as the second location for this initiative. Indonesia serves as a key overseas business hub for Lotte. Since launching Lotte Mart in 2008, the company has expanded to 12 subsidiaries operating in retail, chemicals, logistics, IT, and construction. Last year, Lottes local sales exceeded 2 trillion won, and the workforce reached approximately 8,000 employees. The company plans to hire an additional 300 local staff by the end of this year. Following the job fair, Lotte will conduct Global Campus Recruiting at major universities. This initiative will involve on-campus consultations about job roles after introducing the group and its positions at the fair, aiming to facilitate actual hiring. In Vietnam, where the global job fair was held last year, campus recruiting will also take place next month at major universities in Hanoi. In South Korea, Lotte operates a predictable rolling recruitment system, focusing on hiring for its subsidiaries in March, June, September, and December. Currently, Lottes recruitment website lists new positions for several subsidiaries, including Lotte Department Store, Lotte Hotel, Lotte Innovate, Lotte Construction, and Lotte Energy Materials, for September. Lotte is broadening its talent acquisition channels by regularizing recruitment periods domestically and conducting local job fairs and university recruiting abroad. A Lotte representative stated, The global job fair is designed to allow local job seekers to explore various Lotte subsidiaries businesses and roles in one place and communicate directly with current employees. We will continue to expand our connections with global talent who can grow with Lotte through various recruitment activities, including visits to local universities.* This article has been translated by AI. September 9, 2026 1
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Korea Maritime Promotion Corporation Raises $300 Million in Taiwan for U.S. Logistics Infrastructure The Korea Maritime Promotion Corporation has issued $300 million in foreign currency bonds in the Taiwanese financial market. The funds will be used to support investments in U.S. maritime and logistics infrastructure and to secure vessels for national shipping companies transporting essential goods.On September 9, the corporation announced the completion of a $300 million Formosa bond issuance with a five-year maturity aimed at global investors.Formosa bonds are issued in foreign currency by overseas institutions in the Taiwanese financial market. This marks the fourth issuance of Formosa bonds by the corporation since its first issuance in 2023.The interest rate for this issuance is 3 basis points (0.03 percentage points) lower than last year. The corporation explained that regular bond issuances have expanded its investor base, resulting in reduced funding costs and achieving the lowest interest rate among Formosa bonds issued by public institutions.The raised funds will support the overseas expansion of domestic maritime companies and key transportation projects for national shipping companies. Plans include investments in maritime and logistics infrastructure projects such as floating liquefied natural gas (LNG) export terminals and logistics centers in New Jersey.Additionally, the funds will assist in securing vessels for national shipping companies that transport essential goods, including energy and petrochemical products. In light of increasing uncertainties in major maritime transport routes, including the Strait of Hormuz, the corporation aims to secure stable transport capabilities and strengthen the national maritime supply chain.CEO Ahn Byeong-gil stated, “Stable foreign currency procurement is a crucial foundation for the overseas expansion of our maritime companies and the national maritime supply chain. We will continue to diversify our funding market and investor base to support the international expansion of our maritime companies and the stability of the national maritime supply chain, fulfilling our role in policy finance to enhance the competitiveness of the maritime industry.”* This article has been translated by AI. September 9, 2026 1
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Rising AI Power Demand Calls for Expanded Role of LNG Generation As demand for electricity surges due to the expansion of artificial intelligence (AI), semiconductors, and data centers, experts are advocating for an increased role of liquefied natural gas (LNG) generation to ensure stable power supply. They argue that extending the lifespan of existing LNG power plants and securing new facilities are necessary to complement the intermittency of renewable energy and transmission network constraints.Jeon Woo-young, a professor at Seoul National University of Science and Technology, stated on September 9 at the 12th LNG Forum held at the Oakwood Premier Coex in Seoul, The power demand from AI data centers and the semiconductor and advanced industries supporting AI is becoming significant.According to Professor Jeon, the governments upcoming 12th Basic Plan for Power Supply and Demand forecasts that domestic electricity consumption will increase by 52.6% from approximately 550 TWh in 2024 to 847.3 TWh by 2040. In an upward scenario, this could rise to 886.1 TWh. Notably, new demand is expected to add a total of 35.7 GW, with 24.6 GW from advanced industries and 11.1 GW from data centers.He emphasized that the role of LNG generation is essential in responding to the rapidly increasing power demand. Even as renewable energy generation grows quickly, its variability due to weather necessitates a reliable backup source for stable power supply.In the next 10 to 15 years, a fierce competition for AI supremacy will unfold, and realistically, LNG is the only resource that can back up the intermittency of renewable energy during this period, Professor Jeon said. He added that even as the industry transitions to hydrogen in the long term, LNG must serve as a bridge.There were also calls to maximize the use of existing LNG power facilities. The construction of new power plants requires significant time, and the global shortage of gas turbine supplies complicates the acquisition of new generation facilities.We should not shut down LNG power plants just because they are 30 years old, Professor Jeon remarked. Given the rising costs and supply challenges of building new alternatives, extending the lifespan of LNG power plants beyond 30 years is a way to secure existing infrastructure and prevent gaps in power supply during the AI era.Professor Son Yang-hoon from Incheon University also assessed that utilizing existing power facilities is crucial to meet the surging power demand. He emphasized that, especially with high interest rates increasing project financing costs, it is practical to maximize the use of existing coal, LNG, and nuclear power facilities.Additionally, there were calls for a stable fuel procurement strategy alongside the expansion of LNG generation. Kim Tae-sik, a researcher at the Korea Energy Economics Institute, presented on the topic of Global LNG Supply and Demand Changes and Implications for the Domestic LNG Industry, highlighting the need to prepare for uncertainties in the international LNG market.As domestic LNG import contracts are expected to see a rapid increase in expirations starting in the mid-2030s, he explained the importance of securing flexibility to respond to changes in demand while appropriately utilizing long-term contracts and spot imports to manage price and supply risks.Kim emphasized the need to establish a contract portfolio that reflects both upward and downward fluctuations in demand rather than relying solely on a single demand forecast. He stated, It is necessary to secure quantities and review contract terms considering the potential for demand increases and international price volatility, ensuring both supply stability and economic viability through diversification of price indices and quantity pathways.Meanwhile, the LNG Forum, hosted by the Private LNG Industry Association, is regarded as a key platform for policy discussions in the domestic LNG industry. The association plans to continue holding LNG forums to discuss policy directions for stable energy supply.* This article has been translated by AI. September 9, 2026 1
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KOSPI Rises Over 1% as Foreign and Institutional Investors Buy, Stabilizing Above 7000 The KOSPI index continued its upward trend, rising over 1% as foreign and institutional investors engaged in net buying, stabilizing above the 7000 mark. Despite geopolitical uncertainties from the Middle East and rising international oil prices, buying pressure, particularly in semiconductor stocks, has driven the index higher. The KOSDAQ also showed strength, buoyed by foreign purchases.According to the Korea Exchange, as of 12:29 PM, the KOSPI was trading at 7059.01, up 104.49 points (1.50%) from the previous trading day.The index opened at 6972.87, up 18.35 points (0.26%) from the last session, and has since expanded its gains, maintaining its position above 7000 after recovering earlier in the morning.In the securities market, foreign and institutional investors have net bought 111.6 billion won and 680.1 billion won, respectively. In contrast, individual investors are net selling 1.7638 trillion won. As individuals engage in large-scale profit-taking, foreign and institutional investors are absorbing the sell-off, contributing to the indexs rise.Among the top market capitalization stocks, Samsung Electronics rose by 0.74%, SK Hynix by 3.51%, SK Square by 0.13%, Samsung Electro-Mechanics by 2.85%, LG Energy Solution by 0.86%, Hyundai Motor by 0.52%, and Samsung Biologics by 0.07%. However, Samsung C&T fell by 0.13%, KB Financial by 0.69%, and Samsung Life by 1.62%.At the same time, the KOSDAQ index showed an increase of 14.80 points (1.82%), reaching 826.68.In the KOSDAQ market, foreign and institutional investors net bought 226.2 billion won and 16 billion won, respectively, while individuals net sold 241.7 billion won.Among the top KOSDAQ stocks, Alteogen rose by 0.72%, EcoPro by 1.23%, EcoPro BM by 1.91%, Juseong Engineering by 5.86%, Rainbow Robotics by 2.54%, Wonik IPS by 3.11%, EO Technics by 4.70%, Rino Technology by 1.60%, and Simtech by 6.98%, all showing upward trends.* This article has been translated by AI. September 9, 2026 1
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Government Calls for Energy Security Cooperation at APEC Meeting The government is urging member countries of the Asia-Pacific Economic Cooperation (APEC) to collaborate on energy transition and supply chain stability in response to uncertainties in the energy market stemming from the Middle East.The Ministry of Climate, Energy, and Environment announced on September 9 that Oil Young, head of the Climate and Energy Policy Office, will attend the APEC Energy Ministerial Meeting as the chief representative of the government from September 10 to 11 in Beijing, China.This meeting will focus on the theme of building an innovative and cooperative Asia-Pacific energy community for all. Member countries will discuss energy accessibility for all and ways to create synergies through cooperation between artificial intelligence (AI) and energy.The South Korean government plans to emphasize the importance of energy transition and supply chain cooperation among member countries to address the prolonged uncertainties in the energy market due to the situation in the Middle East. It will also introduce policies aimed at deploying 100 gigawatts of renewable energy capacity by 2030 and establishing an intelligent and decentralized power grid to support this goal.Additionally, the government will share plans for expanding power infrastructure in the AI era. To support the three mega-projects announced in June, it is promoting a local production for local consumption energy supply policy that distributes demand to regions rich in renewable energy and nuclear power, along with modernizing the power grid.Plans to utilize AI for power supply forecasting, optimizing power grid operations, and integrating and operating distributed energy resources through virtual power plants (VPP) will also be presented.Furthermore, the government will announce policy examples aimed at spreading the benefits of energy transition to vulnerable groups and local residents. These include energy vouchers to support energy costs for heating and cooling, energy efficiency improvement projects for low-income households, and the Sunlight and Wind Income Village initiative, which shares profits from solar and wind power with local communities.During the meeting, the government will also pursue bilateral talks with Japan, Canada, and Singapore. These discussions will focus on jointly addressing the heightened uncertainties in the energy market due to the Middle East situation and exploring cooperation in renewable energy, nuclear power, and small modular reactors (SMRs).Oil Young stated, This is an opportunity to discuss overcoming the energy crisis stemming from the Middle East and to explore future-oriented energy innovations. We aim to share South Koreas energy policies that support advanced industries with the international community and strengthen cooperation with major countries.* This article has been translated by AI. September 9, 2026 1
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10 Million Climate Citizens Initiative Launched, Funding Challenges Ahead The government has officially launched the 10 Million Climate Citizens Initiative to promote climate action in daily life, but securing funding for incentives has emerged as a challenge. The initiative aims to engage 1 million participants by the end of this year, with point rewards being offered, yet the budget for next years carbon neutrality points remains at the same level as this year.While the government states it currently has the capacity to provide rewards, it plans to pursue additional funding to accommodate the expected increase in participation.The Climate Energy Environment Ministry announced on September 9 that it will operate a unified platform called Korea Climate Action on its carbon neutrality points website starting September 10. This follows the official launch of Korea Climate Action in June, with the 10 Million Climate Citizens Initiative as a concrete implementation measure.The ministry has set a target of 1 million climate citizen participants by the end of this year. A ministry official stated, We are aiming for around 1 million participants by the end of the year.The current budget for carbon neutrality points is approximately 18 billion won, which has been maintained in next years government budget proposal. If the number of climate citizen participants increases, additional funding for incentives will likely be necessary.The ministry estimates that about 10 billion won of the carbon neutrality points budget can be allocated for climate citizen incentives. A ministry official noted, We plan to discuss and explain this aspect during budget discussions in the National Assembly.To lower the barriers for participation, the government will provide incentives until the end of this year. Participants who declare themselves as climate citizens on the unified platform will receive 1,000 points, and an additional 1,000 points will be awarded upon completing and certifying their first climate action.If all 1 million participants declare and complete their first climate action by the end of the year, the total incentive required could reach up to 2 billion won. Additionally, climate citizens can earn extra incentives through everyday climate actions linked to the existing carbon neutrality points system. The annual payment limit per individual is set at 70,000 won, with the average actual amount received being around 7,000 won, according to the ministry.The ministry also stated that it currently has the capacity to provide rewards, unlike in the past when the carbon neutrality points budget was quickly exhausted. This was largely due to the previous system of awarding 100 won per electronic receipt, which led to a surge in payouts as usage was automatically tracked through partner company systems. The ministry has since reduced the points for electronic receipts to one-tenth of the previous amount.Each month, the ministry will select key climate actions and expand the linkage with existing carbon neutrality points. In October, it plans to promote cycling, followed by initiatives for installing solar panels on balconies and renting electric vehicles.Climate Minister Kim Sung-hwan stated, Addressing the climate crisis cannot be achieved solely by the government or specific sectors; it requires the collective actions of individuals in their daily lives to lead to societal change.* This article has been translated by AI. September 9, 2026 1
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Hyundai Motor Group Partners with African Development Bank for Sustainable Development Hyundai Motor Group is partnering with the African Development Bank to promote clean energy transition and transportation infrastructure in Africa.On September 8, Hyundai Motor Group announced that it signed a letter of intent (LOI) with the African Development Bank at its headquarters in Yangjae, Seoul.As part of the collaboration, Hyundai Motor Group will enhance its technological capabilities in mobility, energy, infrastructure, and industrialization in Africa. The partnership aims to identify new business opportunities by leveraging the African Development Banks development and investment capabilities.Specifically, the collaboration will focus on six areas: transitioning to clean energy such as green hydrogen, establishing sustainable mobility solutions, developing transportation and logistics infrastructure including roads, railways, and ports, creating an electric vehicle value chain utilizing key mineral resources, strengthening industrialization and manufacturing capabilities, and training talent for future mobility and energy industries.Following the signing of the agreement, the African Development Bank delegation discussed the development finance environment and key industrial challenges in Africa with Hyundai Motor Group, as well as long-term cooperation strategies. They also explored future mobility technologies, including delivery and security robots, at the Yangjae headquarters.Jang Jae-hoon, Vice Chairman of Hyundai Motor Group, stated, This collaboration marks the beginning of a long-term partnership aimed at enhancing energy transition and industrial competitiveness in Africa. We will continue to expand our cooperation with the African Development Bank.Kevin Chika Urama, Vice President of the African Development Bank, remarked, The experience, technology, and future vision that Hyundai Motor Group has accumulated closely align with the African Development Banks vision to transform Africas potential into prosperity.Meanwhile, Hyundai Motor Group is expanding its operations in Africa. On September 4, Hyundai Motor launched the Hyundai-KOICA NextGen project in Ghana in collaboration with the Korea International Cooperation Agency (KOICA) to train automotive professionals. The initiative will invest a total of 5 billion won by 2030 to establish an automotive training center and support education for 405 local teachers and students.* This article has been translated by AI. September 9, 2026 1
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Chip stocks pull KOSPI above 7,000 SEOUL, September 09 (AJP) - South Korean stocks rebounded Wednesday morning, with the KOSPI climbing back above 7,000 as gains in chip heavyweights Samsung Electronics and SK hynix outweighed lingering pressure from higher oil prices and Middle East tensions. The benchmark stood at 7,039.16 as of 10:54 a.m., up 1.22 percent from the previous session. The KOSPI opened 0.26 percent higher at 6,972.87 and briefly slipped to 6,968.06 before turning higher as buying strengthened in semiconductor and other heavyweight shares. The rebound came a day after the index climbed as high as 7,171.52 before reversing sharply to close at 6,954.52, as rising international oil prices and geopolitical concerns in the Middle East erased an earlier chip-led rally. Major U.S. indexes fell for a second straight session overnight as escalating Middle East tensions pushed up oil prices and Treasury yields. The Dow Jones Industrial Average dropped 1.18 percent, the S&P 500 lost 0.58 percent and the Nasdaq Composite fell 0.32 percent. West Texas Intermediate crude rose to $94.20 a barrel as concerns over oil supplies intensified following U.S.-Iran military tensions and attacks on Saudi energy facilities. The U.S. 10-year Treasury yield climbed to 4.79 percent, adding pressure on risk assets. Chip shares, however, bucked the broader decline on Wall Street. The Philadelphia Semiconductor Index gained 1.30 percent as expectations for continued artificial intelligence investment supported the sector. Investors focused on signs that AI demand is broadening beyond accelerators into inference, central processing units and networking equipment. Intel surged 9.05 percent and AMD jumped 5.90 percent, while Nvidia fell 2.01 percent and Micron Technology lost 1.61 percent. In Seoul, Samsung Electronics rose 0.93 percent to 272,000 won and SK hynix gained 2.96 percent to 1,846,000 won. Samsung Electronics preferred shares edged up 0.10 percent to 198,600 won. Other semiconductor-related large caps also advanced. Samsung Electro-Mechanics gained 2.92 percent to 1,410,000 won, while SK Square rose 0.53 percent to 1,137,000 won. Power and defense shares also gained on expectations for overseas orders. Doosan Enerbility climbed 3.24 percent to 92,400 won, extending gains from the previous session amid expectations tied to South Korea's planned nuclear and power investments in the United States. Hanwha Aerospace rose 1.66 percent to 1,044,000 won as expectations persisted for additional overseas defense orders. The company is showcasing its K9A2 self-propelled howitzer at the MSPO 2026 defense exhibition in Poland, running from Sept. 8 to 11, as it pursues a third K9 execution contract with the country. Elsewhere, LG Energy Solution gained 0.72 percent to 351,000 won, Kia rose 0.64 percent to 126,200 won and Samsung Biologics edged up 0.14 percent to 1,442,000 won. Samsung C&T added 0.13 percent to 382,500 won, while Hyundai Motor was unchanged at 385,000 won. Financial shares were weaker. Shinhan Financial Group dropped 2.74 percent to 110,100 won, KB Financial fell 1.04 percent to 171,900 won and Samsung Life declined 0.81 percent to 305,500 won. The KOSPI's rebound was driven largely by local institutions, which bought a net 304.2 billion won ($226 million) as of 10:54 a.m. Retail investors sold a net 638.6 billion won, while foreign investors offloaded 201.3 billion won. Despite the rise in the benchmark, gains were not broad-based. A total of 401 KOSPI-listed stocks advanced, while 465 declined and 44 were unchanged, underscoring that the rebound was concentrated in heavyweight shares. The junior KOSDAQ rose even faster, gaining 1.86 percent, or 15.09 points, to 826.97 as semiconductor equipment and component shares extended early gains. In the currency market, the Korean won strengthened to 1,339.20 per dollar from 1,345.60 a day earlier. AJP Takeaways - South Korea's benchmark KOSPI rose 1.22 percent to 7,039.16 as of 10:54 a.m. on September 9, 2026, reclaiming the 7,000 level as Samsung Electronics and SK hynix led a rebound in heavyweight semiconductor shares. - Samsung Electronics gained 0.93 percent to 272,000 won and SK hynix rose 2.96 percent to 1,846,000 won on September 9, 2026, supported by strength in U.S. semiconductor shares even as higher oil prices and Treasury yields pressured broader global markets. - Institutional investors bought a net 304.2 billion won of KOSPI shares as of 10:54 a.m. on September 9, 2026, while retail and foreign investors were net sellers, with investors also awaiting the U.S. August producer price index on September 10 and consumer price index on September 11. September 9, 2026 1