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President Yoon to Lead Mega Project Meeting with Government, Military, and Corporations President Yoon Suk Yeol will hold the second public-private joint review meeting for mega projects on August 10, assessing the pace and impact of large-scale investment initiatives.The meeting will focus on ensuring that the benefits of these investments extend beyond specific companies and regions to the entire national industrial ecosystem.According to the Blue House, President Yoon will preside over the meeting at 2 p.m. at the Blue House, bringing together government officials, military representatives, local governments, and corporate stakeholders for the first time since the initial review meeting on July 6.This session will not only confirm the progress of mega projects but also engage in broader discussions on regulatory relief, improvements to government support systems, and strategies for mutual growth with local industries.The focus will be on accelerating large-scale investments while ensuring that their benefits are distributed across regional economies and related industries.Attendees will include Chief of Staff Kang Hoon-sik, Policy Chief Kim Yong-beom, and National Security Chief Wi Sung-lak, along with Prime Minister Han Seung-soo, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, and Minister of Science and ICT Baek Kyung-hun, among others.Also present will be the Director of the Office for Government Policy Coordination Lim Ki-nam, Chairman of the Joint Chiefs of Staff Jin Young-seung, Air Force Chief of Staff Son Seok-lak, and the Mayor of Gwangju, Min Hyung-bae. Corporate representatives will include Samsung Electronics President Kim Yong-kwan and SK Group Future Growth Chief Executive Jeong Seung-il, who will provide input on necessary government support and collaboration during the investment process.The meeting will begin with President Yoons opening remarks, followed by a report from the Office for Government Policy Coordination on Regulatory and Government Innovation Strategies for Supporting Mega Projects. This will include an examination of regulatory and administrative hurdles that companies may face during project implementation, as well as discussions on a government-wide coordination and support system.The Minister of Industry and the Deputy Minister of Science and Technology will report on Cooperation Strategies for the Three Major Mega Projects. The discussions will focus on connecting the investment effects of mega projects with materials, parts, and equipment companies, local small and medium-sized enterprises, and talent development across the industrial ecosystem.The meeting will also review the progress of projects in different regions. The Minister of Industry and the Deputy Prime Minister will present the current status and future plans for mega projects in the Chungcheong and Yeongnam regions, confirming the readiness of each project and outlining government support tasks.Regarding the semiconductor cluster, discussions will address not only the site but also issues related to power and water supply. The Minister of National Defense, the Air Force Chief of Staff, the Chairman of the Joint Chiefs of Staff, the Minister of Land, Infrastructure and Transport, and the Minister of Climate, Energy and Environment will sequentially present plans for site and infrastructure supply.In the area of regulatory reform, the application of special provisions for the 52-hour workweek for R&D personnel in mega special zones is expected to be a key issue. The Ministry of Industry argues for the need to relax work hour regulations to facilitate intensive R&D in advanced industries and respond to global technological competition.The draft special law for mega special zones includes provisions to exempt R&D personnel, high-income professionals, and key startup personnel from work hour, holiday, overtime, and night work regulations, based on labor-management agreements. It is also reported that expanding the unit period for flexible work systems and managing overtime work units are under consideration.Conversely, the Ministry of Labor is said to be cautious about broadly applying the 52-hour cap based on the competitiveness of specific regions or industries, as the need for work hour flexibility for industrial competitiveness may conflict with the protection of workers health and rest rights, necessitating inter-departmental coordination.Following the presentations, a comprehensive discussion involving relevant ministries, local governments, and businesses will take place. President Yoon is expected to review the implementation status of follow-up measures by each ministry and call for a swift government-wide response to resolve any delays in project execution.* This article has been translated by AI. August 10, 2026 09: -
Mobile EV Charging Service to Expand by September Chabi, an operator of electric vehicle charging infrastructure, announced on August 10 that it will extend the operation period of the Mobile Electric Vehicle Charging Service project, promoted by the Ministry of Climate, Energy, and Environment, until September 30.The mobile electric vehicle charging service involves a 1-ton truck equipped with an energy storage system (ESS) and a fast charger that travels directly to locations where charging is needed. Users can request the service via mobile or PC, and the nearest charging vehicle will be dispatched to assist.The Ministry of Climate, Energy, and Environment has divided the mobile electric vehicle charging service project into five regions, operating a total of 151 mobile charging facilities as of May. Among these, Chabi is responsible for operations in the Gyeongsang, Daegu, Busan, and Ulsan regions, deploying a total of 38 mobile charging vehicles.From February 11 to May 11, Chabi reported that 677 electric vehicles utilized the service, resulting in a cumulative charging amount of 13,354.38 kWh. Charging requests were relatively concentrated between 1 PM and 3 PM. On May 21, the service handled 28 charging requests in one day, supplying 535.59 kWh of electricity.With this extension, Chabi plans to respond to the increased demand for electric vehicle travel during the vacation season while expanding the application of mobile charging services, particularly in areas where establishing fixed charging facilities is challenging.Chabi CEO Choi Young-hoon stated, The mobile charging service is establishing itself as a new alternative that complements existing charging infrastructure and alleviates inconveniences for electric vehicle users.In the first quarter of this year, Chabi recorded consolidated revenue of 20.7 billion won, marking a 21% increase compared to the same period last year. Revenue from the charging service business rose by 13% to 13.9 billion won. August 10, 2026 09:
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KOSPI Rises 1.6% on Semiconductor Gains, KOSDAQ Recovers Above 820 The KOSPI and KOSDAQ are showing strong gains in early trading. The KOSPI has recovered above 6,300 points, driven by increases in major semiconductor stocks like Samsung Electronics and SK Hynix, while the KOSDAQ has risen to 820.87, aiming to maintain that level.According to the Korea Exchange, as of 9:10 a.m., the KOSPI is trading at 6,361.08, up 102.31 points (1.63%) from the previous trading day. The index opened at 6,306.33, up 47.56 points (0.76%), and has since expanded its gains.Individuals are net buyers of 194.7 billion won worth of stocks, while foreign investors and institutions are net sellers of 156.6 billion won and 43.4 billion won, respectively.Most of the top market capitalization stocks are performing well. Samsung Electronics is up 3.03%, SK Hynix is up 3.23%, SK Square is up 2.88%, Samsung Electro-Mechanics is up 5.63%, Hyundai Motor is up 1.01%, Hanwha Aerospace is up 4.47%, and Samsung Life is up 1.27%. In contrast, LG Energy Solution is down 2.36%, Samsung Biologics is down 1.09%, and KB Financial is down 1.31%.Notably, the strong performance of major semiconductor stocks like Samsung Electronics and SK Hynix is driving the indexs rise. Samsung Electronics has increased by 3.03% to 238,000 won, while SK Hynix has risen by 3.23% to 1,468,000 won. Samsung Electro-Mechanics has seen an increase of over 5%.At the same time, the KOSDAQ is trading at 815.27, up 16.46 points (2.06%) from the previous trading day. The index opened at 807.66, up 8.85 points (1.11%), and has risen to 820.87 in early trading, attempting to recover above the 820 mark.Individuals are net sellers of 45.6 billion won worth of stocks, while foreign investors and institutions are net buyers of 36.8 billion won and 8.2 billion won, respectively.Most of the top KOSDAQ stocks are also showing upward trends. Alteogen is up 6.72%, EcoPro BM is up 0.28%, Juseong Engineering is up 9.47%, Rino Technology is up 2.74%, HLB is up 2.14%, Wonik IPS is up 7.59%, and Simtech is up 5.82%. Conversely, EcoPro is down 0.06% and Rainbow Robotics is down 0.43%.* This article has been translated by AI. August 10, 2026 09:
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KOSPI Rises 1.6% on Semiconductor Gains, KOSDAQ Recovers Above 820 The KOSPI and KOSDAQ are showing strong gains in early trading. The KOSPI has recovered above 6,300 points, driven by increases in major semiconductor stocks such as Samsung Electronics and SK Hynix, while the KOSDAQ has risen to 820.87, aiming to maintain that level.According to the Korea Exchange, as of 9:10 a.m., the KOSPI is trading at 6,361.08, up 102.31 points (1.63%) from the previous trading day. The index opened at 6,306.33, up 47.56 points (0.76%), and has since expanded its gains.Individuals are net buying 194.7 billion won worth of stocks, while foreign investors and institutions are net selling 156.6 billion won and 43.4 billion won, respectively.Most of the top market capitalization stocks are performing well. Samsung Electronics is up 3.03%, SK Hynix is up 3.23%, SK Square is up 2.88%, Samsung Electro-Mechanics is up 5.63%, Hyundai Motor is up 1.01%, Hanwha Aerospace is up 4.47%, and Samsung Life is up 1.27%. In contrast, LG Energy Solution is down 2.36%, Samsung Biologics is down 1.09%, and KB Financial is down 1.31%.Notably, the strong performance of major semiconductor stocks like Samsung Electronics and SK Hynix is leading the indexs rise. Samsung Electronics has increased by 3.03% to 238,000 won, while SK Hynix has risen by 3.23% to 1,468,000 won. Samsung Electro-Mechanics has surged by over 5%.At the same time, the KOSDAQ is trading at 815.27, up 16.46 points (2.06%) from the previous trading day. The index opened at 807.66, up 8.85 points (1.11%), and has climbed to 820.87 in early trading, attempting to recover above 820.Individuals are net selling 45.6 billion won worth of stocks, while foreign investors and institutions are net buying 36.8 billion won and 8.2 billion won, respectively.Most of the top KOSDAQ stocks are also showing upward trends. Alteogen is up 6.72%, EcoPro BM is up 0.28%, Juseong Engineering is up 9.47%, Rino Technology is up 2.74%, HLB is up 2.14%, Wonik IPS is up 7.59%, and Simtech is up 5.82%. Conversely, EcoPro is down 0.06% and Rainbow Robotics is down 0.43%.* This article has been translated by AI. August 10, 2026 09:
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President Lee's Approval Rating Drops to 43.3%, Lowest Since Taking Office President Lee Jae-myungs approval rating has fallen for four consecutive weeks, reaching a record low of 43.3%, according to a survey released on August 10. Negative evaluations increased to 53.0%, widening the gap beyond the margin of error.The survey, conducted by Realmeter at the request of Energy Economy News from August 3 to 7, involved 2,514 voters aged 18 and older nationwide. The approval rating for President Lees administration dropped by 2.6 percentage points from the previous week.Negative evaluations rose by 2.5 percentage points during the same period, while 3.6% of respondents answered dont know.The gap between positive and negative evaluations stands at 9.7 percentage points, exceeding the sampling error of ±2.0 percentage points at a 95% confidence level. This marks the lowest approval rating for President Lee since he took office.President Lees approval rating has declined from 48.4% in the third week of July to 46.3% in the fourth week, 45.9% in the fifth week, and now 43.3% in the first week of August, indicating a downward trend from the mid-40s to the low 40s.Regionally, the largest drop was observed in Seoul, where the approval rating fell by 5.9 percentage points. The ratings also decreased by 5.5 percentage points in Daegu and Gyeongbuk, and by 4.8 percentage points in Busan, Ulsan, and Gyeongnam.By age group, approval ratings dropped by 5.6 percentage points among those aged 70 and older, and by 5.3 percentage points among those in their 60s. The approval rating among those in their 20s also fell by 2.5 percentage points from the previous week.Realmeter attributed the decline in support to controversies surrounding real estate tax reforms, amendments to the criminal procedure law, and fallout from comments related to the Army Academy, compounded by extreme heat and economic instability, leading to a loss of support primarily among residents of Seoul, conservative groups, and older voters.In a related survey conducted by the same organization from August 6 to 7, support for the Democratic Party was at 44.6%, while the People Power Party stood at 37.6%. The Democratic Partys support decreased by 0.5 percentage points, and the People Power Partys support fell by 0.1 percentage points. The gap between the two parties remains at 7.0 percentage points, outside the margin of error for the second consecutive week.The Justice Reform Party and the Reform Party each recorded 2.9%, while the Progressive Party was at 1.5%. The percentage of undecided voters was 9.0%.The presidential approval rating survey was conducted using a wireless automated response method, with a response rate of 4.0% and a sampling error of ±2.0 percentage points at a 95% confidence level.The party support survey was also conducted using a wireless automated response method, with a response rate of 3.4% and a sampling error of ±3.1 percentage points at a 95% confidence level. More details can be found on the website of the National Election Survey Deliberation Commission.* This article has been translated by AI. August 10, 2026 08:
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IBK Securities Raises Target Price for Sanil Electric Amid Growing Demand for Special Transformers IBK Securities announced on August 10 that it has raised its target price for Sanil Electric from 180,000 won to 220,000 won, an increase of 22.2%. The firm maintained its buy rating, citing expanding demand for special transformers driven by growth in sectors such as data centers, renewable energy, and energy storage systems (ESS).Kim Tae-hyun, a researcher at IBK Securities, stated, Following the formal vendor registration with Bloom Energy, subsequent orders for data centers are continuing. In Europe, new customer acquisitions are leading to increased orders in the renewable energy sector, suggesting sustained strong demand for special transformers. In the U.S. power grid market, demand for high-spec products is expanding, and efforts to secure new utility customers are underway.Sanil Electric reported consolidated revenue of 164.2 billion won and an operating profit of 62.2 billion won for the second quarter, marking increases of 28.0% and 34.3%, respectively, compared to the same period last year, aligning with market expectations. The growth in sales of special transformers, driven by the expansion of the renewable energy, data center, and ESS sectors, led to a record quarterly revenue, with an operating profit margin improving by 1.8 percentage points to 37.9% year-on-year.Notably, orders for data centers were identified as a key driver of performance growth. Revenue from special transformers for renewable energy, data centers, and ESS reached 132.4 billion won in the second quarter, a 51.7% increase from the previous year. In contrast, revenue from transformers for power grids fell by 30.6% to 26.6 billion won.Order expansion is also ongoing. In April, Sanil Electric signed a supply contract for special transformers for Bloom Energys U.S. data center worth approximately 50.3 billion won. New orders in the second quarter totaled 243.5 billion won, a 163.4% increase year-on-year, while the order backlog rose by 32.7% to 556.7 billion won. Special transformers accounted for about 90% of both new orders and the order backlog.IBK Securities forecasts that revenue for the second half of the year will reach 374.2 billion won, with operating profit expected to be 133.4 billion won, representing increases of 36.1% and 40.6% year-on-year, respectively. Kim noted, If related orders in the U.S. power grid market become visible in the second half, the contribution of transformers for power grids to performance is expected to increase next year.* This article has been translated by AI. August 10, 2026 08:
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Trump Economic Advisor Acknowledges High Food and Gas Prices, Disputes Tariff Impact Kevin Hassett, chair of the White House Council of Economic Advisers under President Donald Trump, acknowledged that food and gas prices remain still high. However, he countered claims that tariff policies are increasing consumer burdens, stating, Overall prices are stabilizing rapidly.In an interview on August 9, Hassett remarked, Food prices are still too high, and there are many challenges that need to be addressed.Regarding rising gas prices due to the war in Iran, he admitted, They are still higher than we would like. However, he noted that international oil prices, which exceeded $100 per barrel during the height of the conflict, have recently dropped to the high $70s to low $80s, and he anticipates further declines.Hassett explained that factors such as U.S. Navy escorting commercial vessels, increased domestic oil production, and exemptions from the Jones Act have contributed to the decrease in gas prices. The Jones Act restricts cargo transport between U.S. ports to American vessels, but the Trump administration has temporarily exempted foreign ships from transporting oil and fuel within the U.S. following the Iran conflict.He stated, About 100 million barrels of U.S. oil are being transported to the East and West Coasts due to the Jones Act exemption, adding that energy prices could fall further if tensions in the Gulf region ease.Hassett drew a line against claims that tariffs have driven up prices, emphasizing that the Consumer Price Index (CPI) fell by 0.4% in June, and the Personal Consumption Expenditures (PCE) price index decreased by 0.1%. All price indicators are slowing down, he asserted.However, both the June CPI and PCE price index increased by 3.5% and 3.7%, respectively, compared to a year earlier, indicating that price pressures have not completely dissipated. Food prices also rose by 3.0% year-over-year.The White House and the Federal Reserve have differing views on the impact of tariffs on prices. The Fed recently reported that tariff increases have had some effect on rising consumer goods prices.Despite this, Hassett characterized the Trump administrations tariff policy as a very successful trade policy, asserting that increased domestic production by companies will lead to job growth.* This article has been translated by AI. August 10, 2026 07:
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Semiconductor Industry Must Not Get Lost in 52-Hour Workweek Debate Semiconductors are a race against time, where speed translates to competitiveness. Simply developing technology is not enough; companies must deliver products when customers demand them and connect that to mass production to secure market share. In the age of artificial intelligence, the value of time has only increased as the pace of technological change accelerates.The South Korean semiconductor industry now faces the contentious issue of the 52-hour workweek. The government is considering whether to include working hour exceptions for semiconductor research and development (R&D) personnel in its proposed mega-special zone law, leading to differing opinions between the Ministry of Trade, Industry and Energy and the Ministry of Employment and Labor.Minister of Trade, Industry and Energy Kim Jeong-kwan emphasized, The system should not forcibly block the willingness of young people to work, highlighting the need for improvements in working hour regulations. In contrast, Minister of Employment and Labor Kim Young-hoon pointed out that domestic semiconductor companies are already achieving high performance under the current system, suggesting that discussions about exceptions have become overheated.While it is essential to protect workers rights to health and rest, long working hours should not be disguised as a means to enhance industrial competitiveness. The current debate should not be a binary argument of whether to maintain or relax the 52-hour workweek. Instead, the focus should be on how South Korea can develop technology faster than its competitors and bring products to market more swiftly.The urgency is heightened by Chinas rapid advancements. Chinas largest DRAM manufacturer, Changxin Memory Technologies (CXMT), has already climbed to the fourth position in the global DRAM market and is concentrating on next-generation technologies such as DDR5, LPDDR5X, and high-bandwidth memory (HBM). With substantial government support, aggressive capital investment, and a large workforce, China is quickly narrowing the technological gap with South Korea.This is not a call to blindly adopt Chinas so-called 996 work culture, which promotes long hours. The key point is that competing nations are accelerating toward a common goal of securing industrial competitiveness through collaboration among government, businesses, and workforce. While South Korea engages in debates over working hours, competitors continue to advance their R&D and expand production facilities without pause.The mega-special zone law being pursued by the government also hinges on speed. The Ministry of Trade, Industry and Energy plans to offer around 300 regulatory exceptions and financial and tax support as a package, aiming to streamline approvals and address challenges related to power, water, and investment. Discussions are also underway regarding working hour exceptions for R&D personnel and the expansion of flexible and selective working hours.This does not mean a complete relaxation of the 52-hour workweek. It is possible to broaden options for R&D roles and high-income professionals or to manage overtime more flexibly while ensuring adequate rest and compensation. The governments role is to find solutions that reflect both the realities of the industrial sector and labor rights.In the semiconductor industry, missed timing is difficult to recover financially. A delay of just a few months in technology development can push back customer certifications and mass production schedules, allowing competitors to seize market opportunities. Even with tens of trillions of won in financial support and the establishment of large clusters, if regulations hinder the ability to act swiftly when needed, the effectiveness will inevitably diminish.Now is not the time for Samsung Electronics and SK Hynix to feel secure at the center of the AI memory boom. Chinas pursuit has already begun. The starting point of the debate should shift from whether to relax the 52-hour workweek to how to create an environment that allows for the fastest research and development in the world while protecting workers rights. There is little time left to let the semiconductor golden hour slip away in the midst of the working hour debate.* This article has been translated by AI. August 10, 2026 05:
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Trump Associates' Oil Company Brings Drilling Equipment to Greenland Without Approval An oil company managed by associates of President Donald Trump has reportedly brought drilling equipment to Greenland without the necessary approval from local authorities. The Greenland government has issued a stern warning to the company.According to reports from Yonhap News and The Guardian on August 9, Greenland Energy, established in Texas, recently unloaded about 12 containers of drilling equipment in Jameson Land, eastern Greenland.The Greenland government pointed out that the equipment was brought in without prior approval. They warned, In the future, all logistics operations must be notified to and approved by the mineral resources authority before proceeding.However, the government has indicated that it does not consider it excessive to require the removal of the equipment. A review of the drilling permit application is currently underway.Previously, Greenland halted the issuance of new oil exploration licenses in 2021 due to environmental concerns.Meanwhile, President Trump has emphasized the importance of securing U.S. control over Greenland. He has stated in congressional speeches that Greenland is essential to U.S. national security and insisted, We must have Greenland.* This article has been translated by AI. August 9, 2026 21:1
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Samsung Electronics Accelerates HVAC Business to Offset Home Appliance Decline Samsung Electronics is ramping up its heating, ventilation, and air conditioning (HVAC) business. This year, the company has participated in major exhibitions in North America and Europe, secured large overseas contracts, and launched heat pumps domestically, all aimed at developing a new growth engine to counteract poor performance in its device experience (DX) division.On August 9, Samsung announced a partnership with the Oak Ridge National Laboratory under the U.S. Department of Energy to develop next-generation heating technology that operates reliably in temperatures below -30 degrees Celsius. The company plans to unveil a demonstration site for its next-generation EHS All-in-One system in Jeju on August 10.In April, Samsung officially launched its air-source EHS heat pump boiler in South Korea, expanding its previously Europe-centric heat pump business into the domestic market as the government pushes for electrification of heating.The company is also accelerating its overseas market penetration. In June, it agreed to supply over 3,000 system air conditioners to a luxury residential complex in Gurugram, India, and last month announced plans to provide over 1,000 HVAC solutions to more than 100 mosques across eight cities in Saudi Arabia. This marks a shift from residential air conditioning sales to a broader B2B approach, supplying complete HVAC systems for construction projects.Samsung is focusing on enhancing its brand recognition. After participating in the AHR Expo in the U.S. in February, it set up a booth at MCE, Europe’s largest HVAC exhibition, in March. The company also showcased its first joint exhibition with Flakt Group, which it acquired last year.Industry analysts view Samsungs recent moves as an effort to catch up with LG Electronics, which has been leading the B2B HVAC market with its chillers and heat pumps for data centers and commercial and industrial applications. Samsungs strategy to gain ground involves acquisitions and partnerships. In North America, it established a joint venture with Lennox to strengthen its distribution network and product competitiveness, and the acquisition of Flakt has expanded its offerings to include central air conditioning for large commercial facilities and data centers.The ultimate goal is to establish the HVAC business as a new growth driver for the DX division. While home appliances are significantly affected by economic conditions and replacement demand, the HVAC sector can secure substantial contracts and maintenance revenue as investments in buildings and data centers continue. The expansion of AI data centers is also a factor driving market growth.An industry insider noted, Since LG has been developing B2B HVAC as a future business first, it will be difficult for Samsung to close the gap by simply adding a few products. The recent push for simultaneous acquisitions, technology development, and overseas contracts indicates that HVAC has become a high priority within the DX division.* This article has been translated by AI. August 9, 2026 17:0
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Record Heat Strains Power Grid, Urgent Need for Redesign Amid record-breaking heat, maximum power demand reached 95.321 GW on August 7, marking the highest level this summer and the fifth highest on record. The supply reserve ratio fell to 9%, dipping below the typically stable threshold of 10%.This challenge is not limited to this year. As climate change progresses, heat waves and tropical nights are likely to become more frequent and prolonged. The current extreme heat is not just a seasonal issue but signals a structural risk that could recur for decades. The overlap of peak power demand with heat waves may become a new normal. Additionally, the power demand from artificial intelligence (AI) and advanced manufacturing is rapidly increasing. It is time to redesign the power grid to accommodate not only historical average demand but also the impacts of extreme weather and changes in industrial structure.AI data centers and semiconductor factories require stable power around the clock. Simply having enough electricity is not sufficient; stability in voltage and frequency, the risk of outages, and power quality all influence corporate investment decisions. This is why the competitiveness of AI is directly linked to power reliability.The spatial structure of the national power grid needs to be reconfigured. Currently, it resembles a centralized system where power generated at large plants is sent to consumption areas like the capital region. A strategy to distribute the concentrated power demand in the capital region to other areas is necessary. Placing AI data centers and advanced industrial complexes in regions with favorable power generation conditions, and developing power sources in conjunction with industrial parks, should be actively considered. This approach can enhance both regional balanced development and power grid stability. When determining the location of industrial complexes, factors such as land, water, and transportation should be considered alongside the amount of power that can be secured and the transmission network available in 20 years.To respond to climate change, the flexibility of the power grid must also be increased. As the share of variable renewable energy sources like solar and wind grows, the fluctuations in power generation will become more pronounced. To mitigate this, expanding energy storage systems (ESS) and actively utilizing demand response (DR) and smart grids are essential. A system must be established to store electricity when production is high and draw it during peak demand periods. Connecting electric vehicles and industrial equipment to the power grid can create a new system where consumers participate in managing power supply and demand.The transmission network should be constructed proactively based on long-term demand forecasts. Institutional improvements are essential to resolve community acceptance and permitting issues. The power grid must be defined as a critical national infrastructure, with a system in place to quickly resolve conflicts that arise during project implementation. The composition of power sources should also combine the advantages of nuclear, renewable, gas generation, and ESS to ensure both stability and economic efficiency. The key is the ability to reliably supply the necessary amount of power whenever and wherever it is needed. This is why national industrial policy and power policy cannot be viewed separately.The government claims it has secured sufficient supply capacity and additional reserve resources for this summer. However, successfully navigating this summers challenges and preparing for decades of future power demand are entirely different issues. As heat waves recur and the AI industry grows, the likelihood of breaking new records for maximum power demand increases. The power grid is a national infrastructure that will be used for decades once established. What is needed now is not a temporary fix to get through this years crisis, but a comprehensive redesign of the national power supply network that can withstand climate change and industrial transformation.* This article has been translated by AI. August 9, 2026 15:2
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President Lee to Review $800 Billion Semiconductor and Real Estate Plans Next Week President Lee Jae-myung will review the progress of the Honam semiconductor cluster, part of a $800 billion initiative, during a public-private meeting on August 10. An announcement regarding additional housing supply and financial support for actual homebuyers is expected as early as August 13.According to the Blue House, President Lee will chair the second public-private meeting on mega projects on August 10, a month after the first meeting held on July 6.During the first meeting, President Lee unveiled plans for three mega projects focused on semiconductors, artificial intelligence (AI) data centers, and physical AI, with participation from Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won. The site for the Honam semiconductor cluster was designated as the Gwangju military airport area.Samsung Electronics and SK Hynix plan to build a total of four semiconductor production facilities on approximately 2.5 million pyeong of the Gwangju military airport site. The total investment over the long term is estimated at around $800 billion.This meeting is expected to focus on specific discussions regarding how and when to resolve obstacles to actual construction. The Ministry of Finance, Ministry of Trade, Industry and Energy, Ministry of Land, Infrastructure and Transport, Ministry of National Defense, and Ministry of Environment are expected to report on plans for relocating the military airport, land supply, securing power and water resources, and expediting permits.The first issue on the agenda will be the relocation of the Gwangju military airport. To move the military airport, alternative sites and community acceptance must be secured, along with procedures such as a public vote. A phased schedule is also needed to convert the existing site into a semiconductor industrial complex while avoiding gaps in military operations.President Lee may demand a specific timeline from relevant ministries to prevent delays in corporate investment due to prolonged airport relocation. Discussions will also likely cover whether industrial complex development can begin on usable land before the entire military airport is relocated.Securing power and industrial water sources will also be a key topic. It is estimated that operating four semiconductor fabs will require about 650,000 tons of industrial water daily. Urgent measures are needed to connect existing metropolitan water supplies, dams, and recycling facilities without affecting domestic and agricultural water supplies.In the power sector, options for utilizing power sources from the Hanbit Nuclear Power Plant and offshore wind farms in the Honam region, as well as the schedule for building new transmission networks and substations, are expected to be discussed. Even if power generation is sufficient, delays in building transmission networks could hinder factory operations, making the reduction of permit and compensation procedures crucial.There is also interest in when Samsung Electronics and SK Hynix will begin construction and operation of the first fab. The government aims for both companies to have at least one fab operational by the end of 2029.Discussions are expected on whether the projects in Yongin and the Honam semiconductor cluster can be pursued simultaneously. Overlapping construction schedules for 10 fabs in Yongin and four in Honam could lead to competition for power, water, and specialized construction and semiconductor personnel.Special legislation and the establishment of a dedicated organization at the Blue House to support the mega project initiatives will also be discussed.It has been reported that the Blue House is considering creating a senior-level organization to manage large-scale national investments, and attention is focused on how the roles and structure of this dedicated organization will be defined. President Lee plans to hold monthly public-private meetings to directly review the progress of the projects and tasks assigned to various ministries.Following the mega project meeting, a real estate plan that includes housing supply and financial support for actual homebuyers is expected to be announced on August 13.President Lee chaired the first real estate policy review meeting for 7.5 hours on August 3, shortly after returning from a trip to the U.S. and South America. He held a second meeting for six hours on August 7.While no additional meetings are currently planned, there remains a procedure for finalizing the proposals to be reported to the president before the announcement. The final report is expected to involve last-minute adjustments regarding new supply sites, quantities, construction timelines, and the scope of financial support for actual homebuyers.The most significant concern is where to secure the housing supply referred to as 50,000 units + α in the metropolitan area. Potential sites under consideration include the Yongsan Childrens Garden, the Korea Land and Housing Corporation (LH) site in Yeouido, and development-restricted areas in Gangnam.President Lee is likely to emphasize that the supply numbers should not just be large figures but should also include quantities and timelines for actual construction within the next two to three years. This raises the question of whether to maintain the initially mentioned supply scale or to present a more conservative estimate by focusing only on projects with a higher likelihood of starting construction.Negotiations with the Seoul city government regarding the use of the Yongsan Childrens Garden are also a variable. Seoul Mayor Oh Se-hoon has opposed housing supply in the Yongsan Park area, citing reasons for green space preservation. It is reported that President Lee has instructed that the government should consult with the Seoul city government first rather than proceeding unilaterally.The final report is expected to discuss the scale of housing that can be supplied in Yongsan, plans for preserving green space, and strategies for persuading the Seoul city government. If Yongsan is excluded, alternative public or unused land will also be examined.Separately from the supply measures, there is ongoing debate regarding loan support for young people, newlyweds, and those without homes.Within the government, there is a consensus on the need for reasonable support for actual homebuyers, but there are concerns that loosening loans in a situation where supply is insufficient could again stimulate housing prices and household debt.As a result, a targeted support plan based on income, housing prices, and first-time home purchases is being strongly considered. There may also be discussions on treating specific loans such as down payments, interim payments, and relocation costs separately from overall household loan management.On August 8, President Lee instructed an investigation into systems that disadvantage young people in terms of loans, subscriptions, and tax benefits due to marriage, indicating that related issues will likely be reflected in the real estate measures. Discussions may arise regarding whether to include content related to loans for newlyweds or subscriptions in this plan or to separate them into a distinct youth policy.A ruling party official stated, “With the Democratic Partys national convention approaching on the 17th, these two events this week seem to be pivotal for boosting approval ratings. Given the differing opinions within the ruling party, more proactive communication between the party and the government is necessary.”* This article has been translated by AI. August 9, 2026 14:3
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Will It Be Safe to Buy Stocks on Monday? Big Events Shake the Market This Week This week, both domestic and international stock markets are focused on U.S. inflation indicators. Following unexpectedly weak U.S. employment data, concerns about interest rate hikes have diminished. If inflation shows signs of slowing, it could create a favorable environment for the stock market. Conversely, if inflation pressures are stronger than anticipated, concerns about interest rates may resurface.According to the U.S. Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) for July will be released on August 12 at 8:30 a.m. local time, which is 9:30 p.m. in South Korea.The CPI is a key indicator for gauging the Federal Reserves monetary policy direction. This announcement is particularly noteworthy as it follows the release of disappointing U.S. employment data on August 7.According to the U.S. Department of Labor, non-farm employment in July decreased by 23,000 jobs, contrary to market expectations of an increase of about 80,000 jobs. This decline is seen as a signal that the labor market may be cooling faster than expected.The unemployment rate fell slightly to 4.1%, but this was influenced by a decrease in the labor force participation rate.Following the employment report, financial markets significantly reduced expectations for a Federal Reserve interest rate hike in September. The likelihood of a rate increase reflected in the futures market dropped considerably compared to before the employment data was released.The New York stock market reacted positively, with the S&P 500 index closing at a record high, up 0.62% on August 7. The tech-heavy Nasdaq rose by 1.30%, while the Dow Jones Industrial Average increased by 0.28%. On a weekly basis, the S&P 500 gained 3.58%, the Nasdaq climbed 5.19%, and the Dow rose 2.96%.However, market attention is quickly shifting to inflation. While a slowdown in employment may reduce the need for further tightening by the Federal Reserve, a resurgence in inflation could change that outlook.The CPI for June showed a 0.4% decrease from the previous month and a 3.5% increase compared to the same month last year. Excluding the volatile food and energy sectors, the core CPI remained unchanged month-over-month and rose 2.6% year-over-year.The Federal Reserve aims for an inflation rate of 2%. Although the CPI is not the Feds official inflation target, it is a crucial data point for assessing monetary policy direction.At the Federal Open Market Committee (FOMC) meeting held on July 28-29, the Fed decided to keep the benchmark interest rate unchanged at 3.50-3.75%. The Fed noted that while economic activity is expanding steadily, inflation remains above the 2% target.The decision to hold rates steady was not unanimous, as three voting members advocated for a 0.25 percentage point rate increase.As a result, the upcoming CPI release on August 12 will be critical in determining how much it alleviates market concerns about inflation. If inflation rises more than expected, the reduced outlook for interest rate hikes due to weak employment could be reversed. Conversely, if inflation stabilizes, expectations for further tightening by the Fed may diminish.The following day, on August 13, the Producer Price Index (PPI) for July will also be released. The PPI measures price changes that businesses receive for selling goods and services, serving as an indicator for future consumer price trends.The domestic stock market is also expected to be influenced by U.S. inflation data.Recently, the domestic stock market has experienced significant volatility, particularly influenced by movements in major semiconductor stocks like Samsung Electronics and SK Hynix, leading to sharp fluctuations in the KOSPI index. The government has also expressed its intention to respond to increased market volatility to stabilize the stock market.The recent strength of tech stocks in the U.S. could positively impact investor sentiment towards domestic semiconductor stocks. However, if U.S. inflation exceeds expectations, leading to rising bond yields and interest rate hike forecasts, increased volatility in growth and tech stocks cannot be ruled out.The next FOMC meeting is scheduled for September 15-16. The CPI and PPI data released this week, along with upcoming economic indicators, are expected to play a significant role in shaping the Feds decisions in September.* This article has been translated by AI. August 9, 2026 13:3
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Transforming Highways into AI-Driven Infrastructure in South Korea I will transform the Korea Expressway Corporation into a company that integrates AI mobility infrastructure and service platforms, said Yoo Jeong-hoon, the newly appointed president of the Korea Expressway Corporation. For Yoo, highways are no longer just roads for cars.The plan is to connect power and data across the national highway network while integrating autonomous driving and future mobility. The goal is to redefine the highways, once the main arteries of South Koreas industrial era, into national infrastructure for the AI age.The history of South Koreas industrialization cannot be discussed without mentioning highways. The opening of the Gyeongbu Expressway in 1970 was not merely an event connecting Seoul and Busan; it facilitated rapid movement of people and goods, uniting the nation into a single economic zone and fostering the growth of industrial complexes and cities along the route.Now, half a century later, South Korea stands at another turning point. While oil and steel were the key resources of the industrial era, data and power will determine national competitiveness in the AI era. AI data centers require substantial power and a high-speed communication network for rapid data transfer.Yoo sees a new role for highways in this context. He aims to expand the physical roads that connect the nation into a national infrastructure where power and data flow together in the AI era.This vision underpins his declaration to transform the Korea Expressway Corporation into an AI mobility infrastructure and service integration platform company.One of the most notable aspects of Yoos AI vision is the plan to utilize the national highway network as a power transmission network and a large-capacity data cable network. As the number of data centers, which are critical facilities in the AI era, rapidly increases, securing power and data transmission capabilities has become a national priority. Without sufficient power supply or the ability to quickly transfer large volumes of data, these centers cannot be effectively utilized.Yoo focuses on the existing linear infrastructure of the highways. He envisions creating a super-gap infrastructure that utilizes the highway network to establish a foundation for power and data movement, contributing to solving the power supply and high-speed communication issues for AI data centers.This redefines the role of the expressway corporation. While its core mission in the past was to construct and maintain roads and ensure safe travel for vehicles, it may now expand to managing a national platform where vehicles, energy, data, and communication move simultaneously. Highways will become the blood vessels of AI civilization.Power remains essential even in the AI era. As generative AI rapidly spreads, the nature of AI competition is changing. Becoming an AI powerhouse requires more than just good algorithms and semiconductors. It necessitates the establishment of data centers supported by substantial power and a communication infrastructure for data transfer.The Korea Expressway Corporations push to expand renewable energy projects utilizing highway facilities is noteworthy in this context. Various facilities, such as road sites, rest areas, and sound barriers, exist along highways. Yoo plans to utilize these spaces to generate energy and create a win-win model that shares profits with local residents.The highways are evolving from being energy-consuming infrastructure to becoming energy-producing and transferring infrastructure.If we view AI data centers, power grids, and data networks from a national infrastructure perspective, the role of the Korea Expressway Corporation could expand significantly.Autonomous trucks will travel on highways. AI is also transforming vehicles on highways. One of the key projects proposed by Yoo is a pilot program for dedicated lanes for autonomous trucks during nighttime hours. This initiative aims to enhance both the efficiency and safety of logistics by combining autonomous driving technology with highway infrastructure.Autonomous driving is not merely about creating vehicles without drivers. It requires real-time connections between vehicles, roads, traffic information, and communication networks.When AI analyzes traffic volume, accident risks, weather, and facility information, and a structure is established for vehicles and roads to exchange information, highways will transform from mere asphalt into a vast digital platform.Logistics is a field where the effects of AI and autonomous driving can be significantly realized. If the operation of autonomous trucks on highways during nighttime becomes a reality, it could open new approaches to logistics costs, transportation efficiency, driver shortages, and safety issues.This is why the expressway corporation must evolve from a road management agency to an AI mobility platform company.Rest areas will also become future mobility platforms. Yoo chose the Yeongdong Expressways Yeoju Rest Area as his first destination after taking office, which carries symbolic significance.He envisions transforming rest areas from mere spaces for eating and resting into multi-purpose complex spaces that integrate public transportation transfers, future mobility, community coexistence, culture, and leisure.In the era of future mobility, the role of rest areas will inevitably change. They can develop into hubs connecting electric vehicle charging, transfers to new transportation modes, and local tourism and commercial facilities.However, there are issues that need to be addressed before new technologies can be implemented. Yoo pointed out the multi-tiered operational structure that leads to high fees for vendors at rest areas and the management issues involving retiree organizations, emphasizing the need for institutional improvements to restore public trust.This underscores that AI transformation and management innovation cannot be separate endeavors. If we discuss future technologies while maintaining existing unreasonable structures, it will be difficult to gain public trust.Safety is ultimately the starting point for AI. The highways are critical national facilities where countless vehicles and people move daily.If AI can analyze traffic volume, accident risks, weather, and road conditions, and quickly identify anomalies, it can enhance accident prevention and response capabilities. Establishing a safe road environment is crucial for autonomous driving, beyond the technology itself.Yoo has also announced plans to empower safety patrol personnel with on-site control authority to establish a smart and safe traffic system.Just two days after taking office, he visited a facility management subsidiary to directly inspect the heating, cooling, ventilation systems, and rest facilities for on-site workers, demonstrating a management direction that prioritizes safety and the workforce.The integration of advanced AI technology and the safety of those working on-site are not separate issues. The ultimate goal of AI transformation should be to provide safer and more convenient roads for people.Yoo also highlighted balanced national development as a key role for the Korea Expressway Corporation. To overcome the concentration of power in the Seoul metropolitan area, he aims to strengthen the role of highways connecting the national five poles and three special zones super-regions.In the AI era, such connections are even more critical. If AI data centers, energy facilities, and advanced industries are concentrated only in the metropolitan area, AI could exacerbate regional disparities.By establishing power and data infrastructure along the national highway network and connecting regional industrial complexes and logistics networks, new possibilities can emerge. Highways can be utilized as a national network supporting the regional expansion of AI infrastructure.While highways connected factories and cities during the industrial era, they can now serve to connect data centers, industrial complexes, energy, and logistics in the AI era.The future envisioned by Yoo Jeong-hoon for the Korea Expressway Corporation ultimately boils down to a redefinition of roads.It involves transforming roads that once served vehicles into pathways where power and data flow together, transitioning from a public enterprise managing roads to an AI mobility platform company.From logistics driven by human drivers to logistics supported by AI and autonomous driving.The highways, once the main arteries of South Koreas industrialization, are being assigned a new mission. Competitiveness in the AI era will not be determined solely by semiconductors and algorithms. It requires a communication network to deliver the power and data that will operate AI, as well as the physical infrastructure to connect data centers and logistics nationwide.South Korea already has a vast highway network that connects the entire nation. The challenge lies in how to repurpose this asset for the AI era.The highways that once connected the South Korean economy during the industrial era can evolve into a new national artery that connects power, data, autonomous driving, and logistics in the AI era.: Yoo Jeong-hoon, President of the Korea Expressway Corporation:Yoo is an expert in transportation and infrastructure. He earned his bachelors and masters degrees in urban engineering from Seoul National University and a Ph.D. in transportation engineering from Purdue University in the United States. After serving as a senior researcher at the Korea Transport Institute, he has been a professor in the Department of Transportation Systems Engineering at Ajou University since 2005 and is currently the president of the Korean Society of Transportation.He took office as president of the Korea Expressway Corporation in June 2026 and is pushing for a transition into a future platform company that integrates AI mobility infrastructure and services.* This article has been translated by AI. August 9, 2026 12:2
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End of Tax Benefits for Fishing Corporations Lifted; Exemption for Fishing Fuel Extended Tax benefits for fishermen and fishing corporations will no longer have an expiration date, and the support period for tax-exempt fishing fuel will be extended for three years until 2029.According to the Ministry of Oceans and Fisheries on August 9, the expiration date for tax benefits, including corporate tax exemptions for fishing cooperatives, will be removed. This means that income tax on member dividends and value-added tax exemptions for fishing management and service operations provided by fishing corporations will continue to apply.The corporate tax exemption limit is set at 30 million won per member for fishing income, while other income is exempt up to 12 million won per member. Annual dividend income is also exempt from income tax up to 12 million won.Starting next year, fishermen will be able to receive permanent tax benefits when contributing fishing land and other assets to fishing corporations. For contributions made after January 1, 2027, fishermen will not have to pay capital gains tax at the time of contribution. However, the corporation receiving the land will be required to pay the relevant tax as corporate tax when it is later sold.Additionally, some value-added tax and capital gains tax exemptions will continue. Fishermen will receive value-added tax exemptions on fishing equipment imported directly. The 100% capital gains tax exemption for land and buildings used for fishing for over eight years will also have its expiration date removed.The government has also extended the support period for tax-exempt fishing fuel, which was set to end this year. The extension will last until December 31, 2029, allowing fishermen to purchase fishing oil without paying value-added tax, individual consumption tax, transportation, energy, and environmental tax, education tax, or automobile tax.Choi Hyun-ho, head of the Fisheries Policy Office at the Ministry of Oceans and Fisheries, stated, This tax reform is expected to alleviate the burdens faced by the fishing industry under difficult management conditions due to the climate crisis and support stable management. We will continue to work with relevant departments to support stable management for fishermen.Meanwhile, the tax reform proposal for 2026 is currently undergoing legislative notice from August 4 to August 20. The final proposal will be submitted to the National Assembly next month and is expected to be finalized during the National Assemblys plenary session in December.* This article has been translated by AI. August 9, 2026 11:0