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KOSPI tops 7,000 as fiber trade lifts Seoul and Tokyo SEOUL, September 09 (AJP) - A fiber-optic supply contract signed in the United States reshaped trading across Northeast Asia on Wednesday, lifting cable and wire makers in both Seoul and Tokyo. The rally carried South Korea's benchmark KOSPI to its first close above 7,000 since July 23. The KOSPI rose 97.12 points to 7,051.64, a gain of 1.4 percent. The KOSDAQ, South Korea's secondary board for smaller and technology-focused companies, climbed 18.49 points to 830.37, up 2.3 percent. Retail investors sold the whole way up. Individuals unloaded a net 2.2875 trillion won ($1.71 billion) on the main board. Foreign investors turned seller for the first time in five sessions, shedding 435.0 billion won ($325.5 million) to snap a four-session buying run that had underpinned September's recovery. Institutions bought a net 941.7 billion won ($704.7 million). The trigger came from outside all three markets. U.S. glassmaker Corning said it had signed a long-term optical fiber supply agreement with Verizon, according to Japanese market wire Fisco. The deal covers more than 80 million miles of high-density fiber from 2027 through 2032, a multi-year order worth billions of dollars. Corning shares rose 7.5 percent in New York. Tokyo moved first. Furukawa Electric, Japan's second-largest wire and cable maker and a supplier of data-center fiber, jumped 12.6 percent to 4,129 yen. Gaon Cable rose 16.7 percent to 265,000 won ($198.3), on expectations for bus duct and power distribution cable used inside artificial intelligence data centers. Electrical products led KOSPI sectors, up 7.2 percent. The same trade ran through Shanghai in its rawest form. The Shanghai Composite added 17.43 points to 3,957.98, up 0.4 percent, with copper producers leading. Jiangxi Copper gained 2.0 percent to 49.49 yuan and Zijin Mining 1.7 percent to 34.42 yuan. Copper settled at $14,737.00 a metric ton on Sept. 8, up $197.00. Underneath the cable bid, South Korea's memory chips did the heavy index lifting, and they did it unevenly. SK hynix rose 3.5 percent to 1,856,000 won ($1,388.8). It touched 1,883,000 won intraday. Samsung Electronics did not move at all, closing unchanged at 269,500 won ($201.7). That gap is the session's quiet signal. Traders read the day's chip bid as high-bandwidth memory demand rather than a broad memory upcycle, and SK hynix is the direct expression of it. Batteries provided the other leg. SK innovation surged 11.2 percent to 153,500 won ($114.9), its fourth double-digit move in seven sessions, with the secondary battery production theme up 8.7 percent. Tokyo did not hold its gains. The Nikkei 225 was up 0.4 percent at the morning close before fading to end down 126.55 points at 65,142.78, a loss of 0.2 percent. Rising oil and caution ahead of U.S. inflation data offset the cable rally. SoftBank Group rose 3.9 percent to 6,810 yen and trading house Mitsubishi Corp. 2.3 percent to 5,038 yen. The won firmed against the dollar, quoted at 1,336.40 by Hana Bank at 3:37 p.m., 5.10 won stronger than the previous session. AJP Takeaways: - KOSPI closes above 7,000 for first time since July 23, rising 1.4 percent as cable, AI infrastructure, memory chip and battery shares rally. - Corning’s long-term fiber deal with Verizon sparks a Northeast Asia cable trade, lifting Furukawa Electric in Tokyo and Gaon Cable in Seoul on AI data-center demand hopes. - SK hynix leads the chip move while foreign investors sell, signaling selective HBM demand and leaving the durability of the rally tied to domestic buying, U.S. inflation data and oil prices. September 9, 2026 1 -
Government Freezes Health Insurance Premium Rate at 7.19% Amid Increased Spending The government has decided to freeze the health insurance premium rate for next year at the current 7.19%. The Ministry of Health and Welfare held the 15th Health Insurance Policy Review Committee on September 8, where it approved the freeze for the 2027 premium rate and the Phase 1 Innovation Plan for Health Insurance Coverage.The premium rate for workplace subscribers will remain unchanged, and the amount per point for regional subscribers is also fixed at 211.5 won. The government plans to invest up to 800 billion won annually to expand coverage for 1.97 million people with severe and rare diseases without raising the premium rate. This initiative aims to alleviate household burdens amid high inflation and economic slowdown while strengthening the medical safety net for vulnerable groups.However, concerns arise regarding the policys transparency and underlying motives. The Ministry is banking on increased tax and insurance revenue from a recovery in the semiconductor market and using the approximately 30 trillion won in reserves as a buffer against immediate expenditures. While reserves can temporarily cover spending, they cannot replace sustainable revenue sources. Announcing a significant increase in spending while closing off revenue streams is seen as short-sighted populism.There are also suspicions of political collusion to avoid a significant premium increase amid declining approval ratings for the ruling party and President Lee Jae-myung, suggesting that long-term social insurance policies are being treated as political tools rather than serious reforms.The premium rate was frozen at 7.09% in 2024 and 2025, then increased by 1.48% to 7.19% this year. Now, just a year later, it is being frozen again. The surplus and accumulated reserves from previous years are misleading, resulting from a temporary decrease in medical usage during the COVID-19 pandemic, not a sign of a healthy insurance fund.With the rapid increase in medical costs for the elderly due to an aging population, spending pressures are mounting. Long-term projections from the National Assembly Budget Office warn that without structural reforms, the fund will face deficits and depletion of reserves. The ministrys approach of increasing spending while neglecting to expand revenue sources is a dereliction of duty and shifts the burden to future generations.Raising the premium rate is not the only solution. Before tapping into citizens pockets, the government must first address financial leaks and innovate spending structures. It should tackle excessive non-covered medical services linked to private insurance and effectively redesign the co-payment system for unnecessary outpatient visits.Completing the reform of the income-based contribution system and legalizing the long-dormant government support ratio (20%) will enhance predictability in financial inputs. If the government becomes preoccupied with political gains and misses the golden opportunity for structural reform, the consequences of a financial collapse in health insurance will ultimately fall on the citizens. September 9, 2026 1 -
China's Inflation Shows Strong Recovery as CPI and PPI Exceed Expectations Chinas consumer price index (CPI) and producer price index (PPI) are showing a notable recovery. The National Bureau of Statistics of China announced on September 9 that the CPI for August rose by 0.8% compared to the previous year. This marks an increase of 0.3 percentage points from Julys 0.5% and slightly exceeds the Reuters forecast of 0.7%. The CPI also increased by 0.4% from the previous month.The rise in the CPI for August is primarily attributed to an increase in energy prices, which surged from 0.6% in July to 4.1% in August. Gasoline prices rose by 9.3%. Excluding energy, the prices of industrial consumer goods increased by 1.8%, with the growth rate expanding by 0.3 percentage points from the previous month. Prices for computers rose by 19.6% and smartphones by 11.0%, influenced by rising semiconductor prices. Meanwhile, food prices fell by 1.4%, continuing a downward trend, particularly with pork prices dropping by 11.8%.The PPI for August increased by 3.8% year-on-year, up from 3.5% in July and slightly above the Reuters estimate of 3.6%. Significant increases in PPI were recorded in sectors such as coal mining, refining, energy, chemicals, electronics, and machinery, while prices in the automotive, pharmaceutical, food, and agricultural sectors declined.The recovery in Chinas PPI is believed to be a result of government policies aimed at curbing excessive competition, known as neijuan (内卷). Chinese companies have engaged in price-cutting competition to secure market share amid oversupply, which has long suppressed PPI. Since the beginning of this year, Chinese authorities have introduced policies targeting overproduction and price competition in key industries such as steel, solar energy, automobiles, and batteries. As a result, companies are refraining from excessive price reductions, leading to a rebound in product release prices.The National Bureau of Statistics stated, The core CPI, excluding food and energy prices, has risen by 1.0% year-on-year, continuing its recovery. Additionally, the rise in international raw material prices and the advancement of industries within China have contributed to the upward trend in PPI.* This article has been translated by AI. September 9, 2026 1
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Residents of Wanju County to Receive 300,000 Won Before Chuseok Wanju County in North Jeolla Province will provide a livelihood support fund of 300,000 won to each resident.On September 9, Wanju County announced that the support fund aims to alleviate the financial burden on residents due to high oil prices, exchange rates, and inflation, while also promoting local consumption to help small businesses and self-employed individuals recover their sales.The eligible recipients include 100,877 registered residents, marriage immigrants, and permanent residents who have been living in Wanju County as of July 31 and continue to reside there until the application date. Those who passed away before the application date, moved out, or have had their residency registration canceled are excluded from eligibility.The application and payment period runs from today until October 30.From September 8 to 11, payments will be made directly at 640 locations, including senior centers in towns and villages. On September 12 and 13, as well as on weekends, payments will be available at the administrative welfare centers and civil service centers in the residents respective towns and villages for those who cannot visit during weekdays.From September 14 to October 30, residents can apply at their local administrative welfare centers and civil service centers on weekdays and receive their funds immediately.Household heads can collect the funds for all household members by bringing their identification. Household members can either receive their funds directly or submit a delegation form along with necessary identification to collect the funds on behalf of the entire household.The support funds will be distributed via prepaid cards, which can be used within Wanju County until December 31 of this year. However, usage will be restricted in certain sectors, including entertainment and gambling.Wanju County Mayor Yoo Hee-tae expressed hope that the support funds will ease the financial burden on residents and invigorate the local economy. He added, We will carefully monitor the voices from the payment sites and ensure that residents can receive their funds without any inconvenience.* This article has been translated by AI. September 9, 2026 1
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KOSPI Recovers Above 7000 Amid Middle East Tensions and Strong Semiconductor Stocks The KOSPI index has recovered above the 7000 mark, buoyed by strong semiconductor stocks despite rising military tensions in the Middle East and increasing international oil prices. Although U.S. markets have declined for two consecutive trading days, investor sentiment remains supported by the resurgence of semiconductor and artificial intelligence (AI) stocks. Analysts view the recent resistance around the 7000 level as a process of absorbing selling pressure rather than a trend reversal.As of 9:11 a.m. on September 9, the KOSPI was trading at 7001.01, up 46.49 points (0.67%) from the previous trading day. The index opened at 6972.87, rising by 18.35 points (0.26%) before expanding its gains to recover the 7000 level.Among investors, individuals have net purchased 232.3 billion won, while foreign and institutional investors have net sold 141.3 billion won and 134.1 billion won, respectively.In terms of market capitalization, semiconductor stocks are showing upward momentum. Samsung Electronics rose by 0.09%, SK Hynix by 1.34%, Samsung Electro-Mechanics by 2.70%, LG Energy Solution by 0.57%, Hyundai Motor by 0.78%, Samsung Biologics by 0.83%, and KB Financial by 0.23%. Conversely, SK Square fell by 0.35%, Samsung C&T by 0.13%, and Samsung Life by 0.65%.The KOSDAQ index is also on the rise. At the same time, the KOSDAQ was up 12.56 points (1.55%) at 824.44, having started at 815.06, up 3.18 points (0.39%).In the KOSDAQ market, foreign investors have net purchased 69.8 billion won, leading the indexs rise, while individuals and institutions have net sold 49.2 billion won and 19.1 billion won, respectively.Notable gainers include EcoPro (1.36%), EcoPro BM (2.10%), JUSUNG Engineering (4.06%), Rainbow Robotics (1.73%), Wonik IPS (2.07%), EoTechnics (1.90%), Rino Industry (3.05%), Simtec (3.37%), and HPSP (4.97%). In contrast, Alteogen has dropped by 1.26%.On September 8, U.S. markets fell for the second consecutive day amid escalating geopolitical uncertainties from the Middle East. The Dow Jones Industrial Average closed down 628.18 points (1.18%) at 52,786.07. The S&P 500 index fell by 45.08 points (0.58%) to finish at 7,673.52, while the Nasdaq composite dropped 85.58 points (0.32%) to close at 26,421.41.Investor sentiment has been dampened following missile exchanges between the U.S. and Iran, clashes between Saudi Arabia and Iran-aligned Houthi rebels, and reports of U.S. strikes on Iranian oil tankers.International oil prices have also risen for six consecutive days, adding pressure to domestic markets. On the New York Mercantile Exchange, West Texas Intermediate (WTI) crude for October delivery closed at $93.03 per barrel, up $1.55 (1.69%). Brent crude for November delivery on the London ICE Futures Exchange rose by $0.92 (0.95%) to $97.92 per barrel. Oil prices have increased by over 8% this month.However, the relative strength of the semiconductor sector is supporting the domestic market. In the U.S. market, while Nvidia fell by 2.01%, and Microsoft and Apple dropped by 1.15% and 1.17%, respectively, Intel surged by over 9% on news of CPU price increases and AI expectations.Analysts believe that while volatility due to geopolitical instability in the Middle East and rising oil prices is inevitable, the existing recovery trend of the KOSPI is unlikely to be disrupted. With semiconductor and AI stocks regaining leadership and KOSPI earnings estimates remaining stable, the resistance around the 7000 level is seen as a process of absorbing selling pressure rather than a trend reversal.Han Ji-young, a researcher at Kiwoom Securities, stated, The U.S. market has recorded declines for two consecutive days due to heightened uncertainties from the Middle East, including attacks on Saudi energy facilities and Iranian oil tankers near the Hargh Island. However, the recovery of semiconductor stocks domestically and internationally, driven by Nvidia and Broadcoms performance and the anticipated launch of OpenAIs GPT-6, is a positive sign.She added, The geopolitical tensions from the Middle East have pushed WTI prices into the mid-$90 range, and the U.S. 10-year Treasury yield is also under upward pressure, creating a loop of rising oil prices leading to inflation concerns, which in turn heightens caution regarding the August Consumer Price Index (CPI) and raises fears of a rate hike at the September FOMC meeting. However, compared to past military conflicts between the U.S. and Iran and when the 10-year Treasury yield reached around 4.8%, the pressure for market correction is limited, indicating an increasing resilience of the market to macro and geopolitical variables.She further noted, Today, the domestic market is likely to show a cautious stance due to the 1% rise in the Philadelphia Semiconductor Index, alongside renewed U.S.-Iran tensions and heightened caution regarding the August CPI. Although there have been several failed attempts to breach the 7000 level recently, this index level has become a psychological resistance. It is essential to approach the timing of entering this level rather than the level itself.She concluded, Foreign investors, who have turned to net buying in September, are absorbing a significant portion of the large sell-offs from individuals, along with institutions and other corporations, thereby defending the lower end of the index. Currently, the area around the 7000 level is more of a phase of transitioning ownership of individual sell-offs to foreign and other corporate buybacks rather than the upper limit of this recovery trend.* This article has been translated by AI. September 9, 2026 0
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Market Preview: New York Stocks Decline Amid Rising Tensions in the Middle East The New York stock market declined for the second consecutive day as military tensions in the Middle East escalated. With international oil prices rising for the sixth straight day, concerns about inflation and potential interest rate hikes by the U.S. Federal Reserve have intensified. On September 9, attention is focused on whether the domestic stock market will continue to face resistance near the 7,000 mark. However, analysts suggest that the recovery of semiconductor and artificial intelligence (AI) stocks indicates a low likelihood of disrupting the KOSPIs existing upward trend.On September 8, the Dow Jones Industrial Average closed down 628.18 points (1.18%) at 52,786.07. The S&P 500 index fell 45.08 points (0.58%) to finish at 7,673.52, while the tech-heavy Nasdaq composite dropped 85.58 points (0.32%) to close at 26,421.41.The U.S. stock market showed weakness amid growing geopolitical uncertainty stemming from the Middle East. Over the weekend, the U.S. and Iran exchanged ballistic missile attacks, followed by clashes between Saudi Arabia and Iran-aligned Houthi rebels, and reports of U.S. strikes on Iranian oil tankers, which dampened investor sentiment.International oil prices continued to rise. West Texas Intermediate (WTI) crude for October delivery closed at $93.03 per barrel, up $1.55 (1.69%). Brent crude for November delivery rose $0.92 (0.95%) to $97.92 per barrel. Oil prices have increased for six consecutive days and have risen over 8% this month.The rise in oil prices is fueling inflation concerns and increasing vigilance regarding potential interest rate hikes by the Federal Reserve. The yield on the U.S. 10-year Treasury note remained steady at 4.79%. Gold prices fell 0.4% to $4,385.09 per ounce as inflation fears and the possibility of rate hikes came to the forefront.Major tech stocks generally showed weakness. Nvidia fell 2.01%, while Microsoft and Apple dropped 1.15% and 1.17%, respectively. In contrast, Tesla rose 3.98%, and SpaceX increased by 3.73%. In the semiconductor sector, Intel surged over 9% on news of CPU price increases and optimism surrounding AI.Despite the weakness in the U.S. stock market and uncertainty from the Middle East, the domestic market is expected to show resilience near the 7,000 mark, supported by the relative strength of the semiconductor sector.As of 8:32 a.m. on September 9, Samsung Electronics was up 0.3%, and SK Hynix rose 1.0% in pre-market trading. SK Square and Hyundai Motor also showed gains of 0.6% and 0.2%, respectively.Market analysts believe that while volatility is inevitable due to recent geopolitical instability in the Middle East and rising oil prices, the likelihood of disrupting the KOSPIs recovery path remains low. They note that the recovery of semiconductor and AI stocks, along with maintained profit estimates for the KOSPI, suggests that resistance near the 7,000 mark should be viewed as a consolidation phase rather than a trend reversal.Han Ji-young, a researcher at Kiwoom Securities, stated, The U.S. stock market has recorded two consecutive days of weakness due to escalating uncertainties from the Middle East, including attacks on Saudi energy facilities and Iranian oil tankers near the Hargh Island. However, the recovery of leadership in domestic and international semiconductor stocks, driven by Nvidia and Broadcoms performance and the anticipated launch of OpenAIs GPT-6, is a positive sign.He added, The rise in WTI prices to the mid-$90 range and upward pressure on the U.S. 10-year yield are creating a loop of rising oil prices leading to increased inflation concerns, which in turn heightens vigilance regarding the August Consumer Price Index (CPI) and potential rate hikes at the September FOMC meeting. However, compared to past military conflicts between the U.S. and Iran and the 10-year yield entering the 4.8% range, the pressure for a market correction appears limited, indicating increased resilience to macroeconomic and geopolitical variables. Another analyst noted, Today, the domestic market is likely to show a cautious stance despite a 1% gain in the Philadelphia Semiconductor Index, as the renewed U.S.-Iran conflict and heightened CPI vigilance create resistance. The recent failures to breach the 7,000 mark have led to this index level being perceived as a psychological resistance, but it is essential to approach the issue as a matter of timing rather than merely the level itself.He further stated, Foreign investors, who have turned to net buying in September, are absorbing a significant portion of the large sell-offs by individuals, along with institutions and other corporations, helping to defend the lower end of the index. Currently, the area around the 7,000 mark is more indicative of a transition phase where individual sell-offs are being absorbed by foreign and corporate buybacks rather than the upper limit of this recovery trend.* This article has been translated by AI. September 9, 2026 0
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Bitcoin Drops to $78,000 Amid Rising Oil Prices Bitcoin prices have fallen to the upper $70,000 range. Analysts attribute this decline to increased speculation about interest rate hikes by the Federal Reserve ahead of the release of U.S. inflation data, coupled with rising oil prices from the Middle East, which have heightened inflation concerns.As of 8 a.m. on September 9, Bitcoin was trading at $78,510, down 0.59% from the previous day, according to global cryptocurrency market site CoinMarketCap.Recently, Bitcoin surpassed $82,000 last week, reaching its highest level in nearly three months, but has since dropped back to the $70,000 mark. The surge past $80,000 triggered profit-taking, and growing uncertainty surrounding U.S. monetary policy has hindered further gains.The spike in international oil prices is also putting pressure on cryptocurrency investment sentiment. With rising military tensions in the Middle East, Brent crude oil prices have approached $99 per barrel. Higher oil prices can increase inflationary pressures, making it more difficult for the U.S. to ease its monetary policy. In fact, U.S. stock markets have seen major indices decline amid concerns over rising oil prices and inflation.Investors are adopting a wait-and-see approach ahead of the upcoming release of the U.S. Producer Price Index (PPI) for August on September 10 and the Consumer Price Index (CPI) on September 11. The market anticipates a 0.4% increase in the August CPI compared to the previous month, with core CPI expected to rise by 0.2%. If inflation figures come in higher than expected, the likelihood of a rate hike by the Federal Reserve could increase, which would weigh on risk assets like Bitcoin.The potential for an increase in the U.S. benchmark interest rate is also contributing to the decline in cryptocurrency prices. Last month, stronger-than-expected U.S. employment data has bolstered expectations that the Federal Reserve may raise rates at its upcoming Federal Open Market Committee (FOMC) meeting on September 16.However, aside from Bitcoin, major altcoins are showing upward trends. Ethereum has risen 0.23% to $2,488. Tether is up 0.01% to $0.99, while Ripple (XRP) has increased by 2.13% to $1.41.Meanwhile, at 8 a.m. on the same day, Bitcoin was trading at 106,500,000 won (approximately $79,385) on Bithumb, reflecting a Kimchi premium of 1.306%, indicating that domestic prices are higher than international rates.* This article has been translated by AI. September 9, 2026 0
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Political Strife Overshadows Regular National Assembly Session The second regular session of the National Assembly since the inauguration of President Lee Jae-myung began with a plenary session on September 1. As National Assembly Speaker Chung Jin-suk noted in his opening remarks, urgent action is needed on livelihood-related bills and next years budget by the legal deadline. However, it appears that the National Assembly is not yet prepared to prioritize these issues.Most concerning is the ongoing prelude to conflict between the ruling and opposition parties over the confirmation hearings for the second cabinet of this administration, various legislative proposals, and the massive budget exceeding 800 trillion won. If this pattern continues, as seen in the first half of the 22nd National Assembly, the session may devolve into repeated disruptions, with political strife overshadowing the needs of the public.The first major issue on the agenda is the confirmation hearings. The Democratic Party has set a goal to complete the hearings before the Chuseok holiday, signaling the start of a significant political battle rather than focusing on public welfare.Following the announcement of President Lees second cabinet on August 30, both the Democratic Party and the People Power Party have engaged in fierce competition over the appointments. The People Power Party has intensified its attacks on Justice Minister nominee Kim Seung-won and Gender Equality and Family Minister nominee Yong Hye-in, while the Democratic Party has responded vigorously, indicating a full-scale battle even before the hearings officially begin.The Democratic Party is actively clarifying allegations involving its own member, Kim, related to a new drug solicitation and prosecution cancellation meeting, demonstrating its commitment to minimizing the governments policy vacuum. However, there are divisions within the party regarding Yong, with concerns about privilege and unfairness surfacing.During the August 17 party convention, Democratic Party leader Kim Min-seok and former leader Song Young-gil emphasized their connections with President Lee, revealing that the party is taking Yongs nomination seriously.In this context, the People Power Party is also ramping up its attacks on both nominees, signaling a major offensive during the confirmation hearings. While the Democratic Party argues for a swift conclusion to the hearings to facilitate the launch of the second cabinet, if the cabinet fails to gain trust within its own party, it will face significant opposition from the opposition, further sidelining public welfare.Next years budget, which directly impacts the public, is also expected to be mired in conflict as both parties continue their confrontational stance. The People Power Party, led by Representative Jang Dong-hyuk, has labeled the governments proposed record budget as populism and money distribution, tightening its grip on the issue. They have raised concerns about soaring prices and potential tax increases, citing a consumer price inflation rate of 3.1% as of August.Given the People Power Partys strong opposition to the budget, the processing of what is supposed to be a budget for the people is likely to face significant challenges. However, the difficulties in reaching a consensus on the budget are not solely the fault of the People Power Partys outright rejection. The Democratic Party, as the ruling party with a majority in the National Assembly, is also pushing for unconditional approval of the budget, deepening the conflict.Most importantly, statements urging the People Power Party to bring alternatives instead of slogans and calling them shameless have complicated negotiations over the budget.The existence of the National Assembly, representing the people, should not be about the power struggles of the ruling and opposition parties or political conflicts for re-election. A National Assembly that prioritizes its political interests over the publics needs loses its reason for existence and justification for support. It is hoped that a National Assembly focused on public welfare and healthy discussions will emerge soon.* This article has been translated by AI. September 9, 2026 0
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Government Questions and Hearings Highlight Key Issues in National Assembly The National Assembly will enter a full session of government questioning and confirmation hearings starting September 9, following the conclusion of the representative speeches on the 8th. The People Power Party plans to strategically question various issues during this regular session. Additionally, the handling of the Mega Special Zone Law, identified by the Democratic Party as a top priority, has emerged as a contentious topic, indicating potential clashes between the two parties.People Power Party leader Jang Dong-hyuk highlighted key issues for focus during this session, including real estate, the stock market, youth employment, inflation, foreign affairs and security, and violations of voting rights. This approach targets perceived weaknesses in the government and ruling party.The government questioning, which begins on September 9, will cover various topics: politics on the 9th, foreign affairs, unification, and security on the 10th, economics on the 11th, and education, society, and culture on the 14th. The party is expected to raise questions on a range of issues, including single-item leveraged exchange-traded funds (ETFs), future response funds, and the possibility of troop deployment to the Strait of Hormuz.Following the government questioning, confirmation hearings will commence on the 15th. Allegations against various nominees have surfaced since the announcement of a Cabinet reshuffle, leading to anticipated confrontations between the opposition, seeking to withdraw nominations, and the ruling party, which aims to defend them. In particular, the opposition is expected to intensify attacks on Kim Seung-won, the nominee for Minister of Justice, and Yong Hye-in, the nominee for Minister of Gender Equality and Family, pressuring for withdrawal or voluntary resignation.Political analysts suggest that the timing of the government questioning and confirmation hearings, just before the Chuseok holiday, will intensify competition between the parties. They emphasize the need to secure public sentiment ahead of the holiday.On the previous day, a new conflict arose between the Industry, Trade, and Energy Committee and the Political Affairs Committee regarding which committee should handle the Mega Special Zone Law. The People Power Party claims that the Democratic Party is attempting to steer discussions in their favor by pushing for the bill to be referred to the Political Affairs Committee instead of the Industry Committee.Conversely, the Democratic Party argues that since the Office for Government Policy Coordination is leading the mega project, it is appropriate for the Political Affairs Committee to review the bill. The chair of the Industry Committee is Kim Seong-won from the People Power Party, while the chair of the Political Affairs Committee is Yoo Dong-soo from the Democratic Party. In his representative speech the previous day, Kim Min-seok, the leader of the Democratic Party, declared, We will pass the Mega Special Zone Law as the top priority legislation of this regular session.A political insider noted, If they are considering the next general election, related movements should start now, and current lawmakers will likely want to assert their presence during this regular session.* This article has been translated by AI. September 8, 2026 1
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Average Cost of Chuseok Ritual Table Drops to 313,000 Won This years cost of preparing the Chuseok ritual table has decreased by about 2% compared to last year. The prices of fruits such as apples and pears have stabilized, marking the first decline in costs in five years. However, prices for beef and some vegetables have increased, showing variability among items.The Korean Consumer Agencys Price Monitoring Center reported on September 8 that it surveyed prices of 25 ritual items at 90 locations, including 11 department stores, 23 large supermarkets, 21 super supermarkets (SSM), 19 general supermarkets, and 16 traditional markets in 25 districts of Seoul from September 3 to 4.The average cost of preparing the Chuseok ritual table for a family of four was 313,089 won, down 2.3% from last years initial survey of 320,370 won. Among the 23 items that can be compared to last year, 14 items (60.9%) saw price decreases. This marks the first decline in preparation costs compared to the previous year in five years.By item category, fruit prices fell the most, decreasing by 7.3% compared to last year. Seafood prices dropped by 6.8%, other food items by 3.5%, processed foods by 2.5%, and vegetables and mushrooms by 2.3%. In contrast, prices for livestock products rose by 0.8%.Notably, the price of pears, which was a significant burden last year, fell by 12.9%, while apples dropped by 8.7%. In large supermarkets, apple prices decreased by 26.5%, and by 22.2% in SSMs. This decline is attributed to government discounts on agricultural and marine products during the survey period.Among seafood, the price of mackerel saw the largest drop at 24.5%. However, dried pollack prices increased by 7.3%, and pollock fillets rose by 3.0%. The average price of dried pollack increased from 7,127 won last year to 7,649 won this year, which is still 18.2% higher than in 2024 when inflation was high.Prices for some vegetables and livestock products have increased. Boiled bracken fern rose by 12.0%, the highest increase among all items. Other items that saw price increases include dried pollack (7.3%), peeled bellflower root (5.5%), beef for skewers (4.1%), eggs (3.9%), and beef for soup (3.0%).There were significant price differences based on where items were purchased. Livestock and vegetable prices, which make up a large portion of the ritual table costs, were 30.7% and 26.0% cheaper in traditional markets compared to large supermarkets, respectively. For instance, 600 grams of domestic beef for skewers averaged 54,948 won in large supermarkets but was only 33,751 won in traditional markets, a 38.6% difference. Beef for soup was also 36.0% cheaper in traditional markets.Boiled bracken fern, weighing 400 grams, averaged 14,688 won in large supermarkets, while it was 11,100 won in traditional markets, a 22.2% difference. Conversely, some items like eggs, apples, pears, and dried persimmons were found to be cheaper in large supermarkets than in traditional markets.The overall cost of the ritual table varied by retail type, with traditional markets being the lowest at 252,594 won. General supermarkets averaged 251,020 won, SSMs 291,590 won, and large supermarkets 318,831 won. Department stores had the highest average cost at 487,449 won.A representative from the Consumer Agency stated, While prices for some items like meat and vegetables have risen, there may be limits to reducing the perceived burden of holiday prices for consumers. It is necessary to continuously monitor whether the governments discounts on agricultural and marine products are effectively reflected in consumer prices.The agency plans to conduct an additional survey of ritual item prices one week before Chuseok to report on price fluctuations. September 8, 2026 1
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KOSPI closes below 7,000 as higher oil prices wipe out chip-led gains SEOUL, September 8 (AJP) - South Korean stocks gave up a strong early gain on Tuesday, with the country's benchmark index closing below 7,000 points as higher oil prices and caution ahead of U.S. inflation data offset gains in chip stocks and hopes for U.S. investment projects. The KOSPI closed at 6,954.52, down 0.58 percent from the previous session. The index opened above 7,000 and climbed steadily through much of the morning, reclaiming the level intraday for the first time in 15 trading sessions. It rose to an intraday high of 7,171.52 before reversing in the afternoon. Selling intensified near the close and pushed the index as low as 6,951.78. It finished at 6,954.52, nearly 220 points below its intraday high. The early rally was led by chip stocks as investors bet that OpenAI's new generative pre-trained transformer (GPT)-6 Astra model would boost memory demand. Samsung Electronics rose earlier in the session before slipping 0.19 percent to 269,500 won at the close. SK hynix climbed as high as 1,889,000 won, up nearly 6 percent intraday, before giving back most of its gains to finish 0.56 percent higher at 1,793,000 won. SK Square rose 0.53 percent to 1,131,000 won. Nuclear, power-equipment and construction shares also rallied on expectations that South Korean companies could participate in major U.S. power projects under Seoul's US$350 billion investment commitment. Reports have pointed to discussions over as many as eight large nuclear reactors and a gas-fired power project in Texas. Doosan Enerbility jumped as much as 6.37 percent to 93,500 won on hopes for those projects before paring gains to close 1.82 percent higher at 89,500 won. Buying remained strong in other nuclear and construction shares at the close. Daewoo E&C rose 8.47 percent to 19,970 won, while KEPCO E&C surged 16.60 percent to 142,600 won. The market lost momentum later in the day as international oil prices climbed further after an attack on a Saudi Aramco refinery. West Texas Intermediate futures rose above $93 a barrel, while Brent crude topped $97. Investors also turned cautious ahead of U.S. inflation data, with the producer price index due Thursday and the consumer price index on Friday. Despite the late selloff, foreign and institutional investors remained net buyers. Foreign investors bought a net 631.6 billion won ($470 million) and institutions purchased 642.7 billion won, while retail investors sold 3.03 trillion won. Electrical equipment fell 3.33 percent, IT services dropped 3.76 percent and electronic products lost 4.17 percent. Electronic equipment and devices were the weakest group, sliding 4.92 percent. Auto parts, air freight and logistics, and electrical products each fell about 2.9 percent. Losses were broad among other large-cap stocks. Samsung Electro-Mechanics tumbled 5.78 percent to 1,370,000 won. LG Energy Solution fell 3.86 percent to 348,500 won. Hyundai Motor dropped 2.04 percent to 385,000 won. Samsung Biologics declined 1.77 percent to 1,440,000 won, KB Financial fell 1.25 percent to 173,700 won and Samsung Life lost 1.28 percent to 308,000 won. Kia dropped 2.34 percent to 125,400 won, Hyundai Mobis slid 3.94 percent to 415,000 won and LG Electronics fell 4.21 percent to 205,000 won. The junior KOSDAQ followed a similar intraday pattern, reversing an early gain to close 1.25 percent lower at 811.88. It climbed as high as 830.21 in morning trading before turning lower in the afternoon. Institutions sold a net 217.9 billion won, while retail investors bought 149.1 billion won and foreign investors purchased 60.8 billion won. Losses were broad across the market. General services, pharmaceuticals and textiles and apparel stocks each fell more than 1 percent. Machinery and equipment, chemicals and manufacturing stocks also lost more than 1 percent. Metals and entertainment and culture shares ended slightly higher. Nuclear-related shares bucked the broader KOSDAQ decline. Orbitech, which provides nuclear services and inspection, hit the daily ceiling and closed 29.83 percent higher at 6,050 won. Woori Technology, which supplies control and monitoring systems for nuclear power plants, gained 8.15 percent to 11,810 won. Among semiconductor equipment and component shares, Jusung Engineering, which makes semiconductor deposition equipment rose 3.95 percent to 194,600 won. Simmtech, a maker of semiconductor package substrates gained 1.67 percent to 121,800 won. FADU, a fabless chipmaker specializing in SSD controllers and storage solutions, fell 1.78 percent to 104,800 won. Other chip equipment and component makers also finished lower. Wonik IPS fell 1.53 percent to 115,800 won. EO Technics dropped 2.08 percent to 446,500 won, while ISC declined 1.61 percent to 183,000 won. Losses were steeper in biotechnology and robotics shares. Alteogen, a biopharmaceutical company known for its drug-delivery platform technology, fell 3.15 percent to 277,000 won. HLB, which develops anticancer drugs, dropped 3.95 percent to 31,650 won, while Rainbow Robotics, a developer of collaborative and humanoid robot platforms, slid 3.35 percent to 433,000 won. In the currency market, the Korean won weakened to 1,345.2 per dollar from 1,340.5 a day earlier. Across the region, Japan's Nikkei 225 fell 1.70 percent to 65,269.33 as a stronger yen weighed on exporters. China's Shanghai Composite rose 0.20 percent to 3,940.55, supported by stronger August exports, while Hong Kong's Hang Seng Index slipped 0.38 percent to 25,317.43 amid caution over rising oil prices and Middle East tensions. With U.S. inflation data due later this week, investors are likely to remain sensitive to energy prices and any signals that could alter expectations for the Federal Reserve's interest-rate path. AJP Takeaways - South Korea's KOSPI closed at 6,954.52 on September 8, 2026, down 0.58 percent, after climbing as high as 7,171.52 earlier in the session before surging oil prices and caution ahead of U.S. inflation data erased the day's gains. - Semiconductor shares and U.S.-linked nuclear and power stocks led the early rally, with SK hynix reaching 1,889,000 won intraday and KEPCO Engineering & Construction closing 16.60 percent higher at 142,600 won. - Foreign investors bought a net 631.6 billion won ($470 million) of KOSPI shares and institutions purchased 642.7 billion won, while retail investors sold 3.03 trillion won as the market reversed sharply late in the session. September 8, 2026 1 -
Won weakens for 1st time in five sessions SEOUL, September 8 (AJP) - The South Korean won fell for the first time in five sessions on Tuesday as higher oil prices and strong demand for dollars from importers put pressure on the currency. Korean government bonds ended little changed after an early rise faded. The won closed at 1,345.6 per dollar at 3:30 p.m., weakening 5.1 won from 1,340.5 in the previous session. The currency opened at 1,344.4 and strengthened as far as 1,336.3 in morning trading before reversing course and reaching 1,349.0 during the session. The won weakened despite a softer global dollar and stronger yen, as rising oil prices raised concerns over South Korea's import bill and importers stepped up dollar demand around 1,340 won per dollar. West Texas Intermediate crude rose above US$94 a barrel during Asian trading amid renewed concerns over Middle East supply disruptions. The National Pension Service's halt to currency hedging also limited further won appreciation, while dollar selling by exporters and gains in the yen capped the rise in the dollar-won rate. Government bonds finished broadly steady after an early rally faded, with most benchmark yields moving by less than 1 basis point. The three-year government bond yield edged up 0.1 basis point to 3.901 percent, while the 10-year yield showed the clearest move, rising 1.6 basis points to 4.401 percent. The five-year yield gained 0.7 basis point to 4.127 percent, while the 20-year yield fell 0.7 basis point to 4.560 percent. The 30-year and 50-year yields rose 0.4 and 0.3 basis point to 4.635 percent and 4.543 percent, respectively. The spread between the three-year and 10-year yields widened to 50.0 basis points from 48.5 basis points a day earlier, reflecting a modest steepening of the curve rather than a broad selloff. Bonds had rallied in morning trading, with the three-year yield falling as low as 3.876 percent and the 10-year yield to 4.362 percent. Foreign investors bought three- and 10-year bond futures, while investors sought value around the 3.9 percent level in the three-year sector. The gains faded later in the session as higher oil prices kept inflation risks in focus and overseas bond yields moved higher during Asian trading, leaving the domestic market close to flat by the end of the day. U.S. markets had been closed Monday for the Labor Day holiday, leaving Seoul investors with limited overnight direction. Attention is now shifting to U.S. inflation data after stronger-than-expected employment figures revived expectations of further Federal Reserve tightening. Markets are also watching the Bank of Japan's policy meeting next week, with expectations of another rate increase contributing to the yen's recent strength. AJP Takeaways - South Korea's won weakened 5.1 won to 1,345.6 per dollar Tuesday as higher oil prices and importer dollar demand outweighed support from a softer dollar and stronger yen. - Government bonds surrendered an early rally, with the three-year yield ending nearly flat at 3.901 percent and the 10-year yield rising 1.6 basis points to 4.401 percent. - U.S. markets are turning to U.S. inflation data and upcoming Federal Reserve and Bank of Japan policy meetings for direction after stronger U.S. employment data revived tightening expectations. September 8, 2026 1 -
KOSPI Peaks at 7,170 but Closes Below 7,000 The KOSPI index surged to 7,170 during trading but ultimately closed below 7,000, erasing its gains in the afternoon session. The index initially showed strong performance, driven by semiconductor and nuclear power stocks, but faced pressure from rising international oil prices and trade uncertainties, resulting in a strong start, weak finish trend.According to the Korea Exchange, the KOSPI closed at 6,954.52, down 40.87 points (0.58%) from the previous trading day. It briefly exceeded 7,100, reaching a high of 7,170.09, but quickly lost ground in the afternoon, ultimately turning negative. The difference between the intraday high and the closing price was over 215 points. In the securities market, foreign and institutional investors recorded net purchases of 644.9 billion won and 649.6 billion won, respectively, while individual investors sold off 3.0534 trillion won.Large-cap semiconductor stocks, which led the indexs morning rise, also lost momentum in the latter part of the session. Samsung Electronics peaked at 279,000 won but closed down 0.19% at 269,500 won. SK Hynix rose to 1,889,000 won during the day but ended up gaining only 0.56%, closing at 1,793,000 won.Most of the top market capitalization stocks showed weakness. Samsung Electro-Mechanics fell 5.78%, LG Energy Solution dropped 3.86%, Hyundai Motor declined 2.04%, Samsung Biologics decreased 1.77%, KB Financial fell 1.25%, and Samsung C&T was down 0.52%.The KOSDAQ index also closed lower, down 10.31 points (1.25%) at 811.88. While individual and foreign investors made net purchases of 149 billion won and 61.8 billion won, respectively, institutions sold off 217.8 billion won.Lee Kyung-min, a researcher at Daishin Securities, noted, Foreign and institutional investors have continued net buying for four consecutive trading days, supporting the indexs rise, but some gains were given back in the afternoon. The ongoing conflict between the U.S. and Iran, coupled with news of attacks on Saudi Arabian oil facilities, has sustained upward pressure on international oil prices, weakening the appetite for risk assets.He added, The deepening trade conflict between the U.S. and Canada also poses a burden. With the U.S. inflation data set to be released this week, caution remains, and the persistent strength of the yen has raised concerns about the unwinding of yen carry trades.* This article has been translated by AI. September 8, 2026 1
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Jang Dong-hyuk Criticizes Government for Fiscal Mismanagement Jang Dong-hyuk, the leader of the People Power Party, criticized the government on September 8, stating, Those who should be declared incompetent are running the South Korean government.During an appearance on the YouTube channel Pen and Mic, Jang expressed concern over the current administrations spending habits, saying, The Lee Jae-myung government is using taxpayer money without considering the future.He pointed to the recent declaration of a fiscal emergency in Gyeonggi Province as indicative of South Koreas future, sharply criticizing the governments proposed future response fund. He stated, The future response fund, which exceeds 160 trillion won, is intended to be used at will without any oversight. If we create a future response fund and spend recklessly while national debt increases, South Koreas finances will collapse just like Gyeonggi Provinces finances are on the brink of collapse.Jang also addressed recent diplomatic issues, including the U.S.-South Korea alliance and troop deployment to the Strait of Hormuz. He warned, Iran is warning us in Korean that if they deploy troops, it will be considered participation in the conflict, so they should handle it accordingly. He added, As president, it is difficult to find solutions to this serious situation.He emphasized, The most important aspect of diplomacy is national interest, stating that strengthening the U.S.-South Korea alliance should have been the top priority, but trust has already been broken. He noted that former President Donald Trump has reached a level of warning directed at President Lee Jae-myung.Regarding allegations surrounding Kim Seung-won, the nominee for Minister of Justice, Jang pointed out that Kim is seen as the attack leader for the cancellation of President Lees indictment. He highlighted that if Kim accepted illicit requests while disregarding public safety, he could be considered an accomplice in stock manipulation. Jang asserted, Kim should not be sitting in the confirmation hearing seat but should be in the suspects seat, facing investigation by the prosecution or police.Additionally, Jang identified key issues that the People Power Party should focus on, including real estate, the stock market, youth employment, inflation, foreign affairs and security, infringement of voting rights, supplementary investigation rights for the prosecution, and preventing the cancellation of indictments and constitutional amendments.Meanwhile, Jang visited the handball arena at Olympic Park and conveyed the need for the special investigation team to confirm that no one had entered the storage location for ballots over the past 95 days. He also insisted that officials from the Korea Sports Council thoroughly check whether any election-related items were among the materials removed.* This article has been translated by AI. September 8, 2026 1
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Japanese yen and bonds rally as BOJ tightening bets build SEOUL, September 08 (AJP) - The Japanese yen and long-dated government bonds rallied together Tuesday as investors priced faster tightening by the Bank of Japan (BOJ) alongside lower longer-term inflation risks. The yen strengthened as far as 152.89 per dollar, its strongest level since Feb. 17, before returning to around 153.3. Japan's 10-year government bond yield fell 4 basis points to 2.890 percent in morning trading. Ataru Okumura, senior rate strategist at SMBC Nikko Securities Inc., said underlying inflation was already around 2 percent and the BOJ was increasingly expected to accelerate the pace of rate hikes. The simultaneous gains in the currency and bonds reflected different expectations at the short and long ends of Japan's rate market. The 20-year Japanese government bond (JGB) yield fell 5 basis points to 3.695 percent, while the 30-year yield dropped 5.5 basis points to 3.965 percent. The policy-sensitive two-year yield declined a smaller 1.5 basis points to 1.835 percent, flattening the yield curve. Expectations of another BOJ rate increase strengthened after economic data suggested Japan could withstand tighter monetary policy. Japan's economy expanded at an annualized 1.4 percent rate in the second quarter, revised up from 1.1 percent. Real wages rose 2.4 percent from a year earlier in July, their strongest increase since May 2021. Markets were pricing about a 97 percent probability that the BOJ would raise its policy rate by 25 basis points next week. Expectations of further tightening were also building. A stronger yen meanwhile reduced longer-term inflation pressure by lowering the local-currency cost of imported energy, raw materials and other goods. JGB futures rose in early Tokyo trading as investors focused on the stronger currency's potential to ease inflationary pressure even as expectations for BOJ tightening remained intact. Japan's current yield levels have also changed the incentives that helped sustain years of yen weakness. The 10-year yield briefly exceeded 3 percent earlier this month, reaching its highest level in about three decades before retreating toward 2.9 percent this week. Higher Japanese yields reduced the appeal of yen-funded carry trades, giving investors less incentive to borrow cheaply in Japan and shift funds into higher-yielding overseas assets. Cross-border yen borrowing reached 360 trillion yen in March, leaving a large pool of positions potentially exposed to a rapid appreciation of the currency. Previous BOJ rate increases and foreign-exchange intervention had failed to provide lasting support for the yen. The latest move instead combined tightening expectations with potential capital repatriation and an unwind of carry trades. Japan and the United States have also maintained a more explicit focus on the currency since their joint intervention in July. Japanese Finance Minister Satsuki Katayama said Tuesday that Tokyo and Washington remained aligned on maintaining stable foreign-exchange markets and continued to communicate closely on currency policy. Positioning accelerated Tuesday's move as traders closed bearish yen bets after USD/JPY broke key support levels, helping push the exchange rate briefly into the 152 range. The shift also reached South Korean markets, although domestic factors remained important. The won traded at 1,338.95 per dollar in late-morning Seoul trading after touching 1,336.3. Exporter dollar selling, foreign equity purchases and yen strength added downward pressure on USD/KRW. Korean government bonds strengthened across the curve at the morning session close. The three-year yield fell 2.4 basis points to 3.876 percent, while the 10-year yield declined 2.3 basis points to 4.362 percent. The 20-year yield fell 2.1 basis points to 4.546 percent, while the 30-year yield dropped 2.4 basis points to 4.607 percent. Won strength was also supported by semiconductor exports and exporter dollar selling, while Korean bonds continued to reflect domestic monetary-policy and government-bond supply expectations. Tuesday's moves reflected more than a simple rise in expectations for higher Japanese policy rates. Investors increasingly distinguished between tighter BOJ policy at the short end and lower longer-term inflation risk, allowing the yen and long-dated JGBs to strengthen together while adding support to neighboring Korean markets. AJP Takeaways - Japanese yen strengthened to 152.89 per dollar Tuesday, its strongest level since Feb. 17, as BOJ tightening expectations and short-position unwinding accelerated. - Japanese government bonds rallied at the long end as yen appreciation reduced imported-inflation pressure despite expectations for another BOJ rate increase. - South Korean markets moved in the same broad direction, with the won strengthening into the 1,330 range and Korean government bond yields falling through the 30-year maturity. September 8, 2026 1