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Lee Says His Term Is Clearly Limited by Constitution Amid Opposition's Re-election Claims President Lee Jae-myung stated on September 9 that my term is clearly limited by the Constitution. This remark is seen as a rebuttal to recent opposition claims that proposed constitutional amendments are aimed at enabling self-re-election.Lee made his comments during a luncheon for expatriates at a hotel in Paris, part of his state visit to France, while explaining the rationale behind his proactive approach to diplomacy since taking office.He emphasized, Ultimately, we must start early to reap the benefits for a long time, adding that opportunities for utilizing good relationships become limited as time progresses.Lee highlighted that meetings between heads of state and diplomatic efforts provide South Korea, an open trading nation, with opportunities for trade, investment, and economic and security cooperation. He noted that countries he has visited have seen significant increases in export rates, along with enhanced private exchanges and cooperation among businesses, benefiting the expatriate community.His comments regarding constitutional amendments and re-election were not directly in response to questions but were part of a broader discussion on the importance of early diplomatic engagement to maximize outcomes. During a visit to Brazil in July, he made similar remarks, indicating that late visits abroad would limit the ability to leverage newly established cooperation.On the previous day, Kim Jeong-sik, the floor leader of the People Power Party, raised suspicions during a representative speech in the National Assembly, questioning whether Lees mention of a two-term constitutional amendment was an attempt to delay judicial proceedings, noting that the president has not explicitly stated he would not seek re-election.Kim also referenced recent declines in approval ratings, asserting that a drop in support necessitates a change in national policy. He criticized the Lee administration for being out of touch, claiming it is blindly pursuing its own path regarding recent cabinet reshuffles, real estate policies, the abolition of investigative powers, and police reforms. He referred to a term coined by some opposition members, combining Lees name with pandemic, calling it a jamdemic and labeling it a national disaster.Lee also addressed the domestic political situation, stating, South Korea is undergoing tremendous changes as of the night of December 3, 2024, and is experiencing revolutionary transformations.He explained that the French Revolution was a process of gathering the peoples energy to create a new system and world, but warned that excessive momentum can lead to backlash.Lee stressed the need for restraint when energy is high, stating, We must move in a desirable direction while minimizing pain and resistance with the consent of many people.He added, We must not repeat the mistakes of the past, emphasizing the importance of caution.Earlier that day, during a meeting with Yael Braun-Pivet, the President of the French National Assembly, Lee underscored that reflecting the will of the people in politics is the essence of democracy. He noted that the French Revolution played a significant role in spreading the values of freedom, equality, and popular sovereignty, which have also been crucial in South Koreas journey toward a new era of popular sovereignty.* This article has been translated by AI. September 10, 2026 -
President Lee Meets French National Assembly Speaker, Emphasizes Democracy President Lee Jae-myung emphasized the need for active parliamentary roles in advancing democracy and enhancing Korea-France relations during a meeting with Yael Bron-Pivet, the Speaker of the French National Assembly. Chief Presidential Spokesperson Kang Yu-jeong stated on September 9 that President Lee met with Speaker Bron-Pivet and requested the French Assemblys interest and cooperation. Speaker Bron-Pivet welcomed President Lees visit to the National Assembly, noting that it signifies the Presidents special interest in the role of parliament in representing democracy. President Lee remarked, In a global environment where democracy is under threat, reflecting the will of the people in politics is essential to democracy, adding that parliament plays a crucial role in this process. He also highlighted the influence of the French Revolution on the development of democracy in Korea, stating, The French Revolution spread the values of liberty, equality, and popular sovereignty, significantly impacting Koreas transition to an era of popular sovereignty. President Lee explained that the fundamental values of democracy, such as freedom and equality, have provided a solid foundation for the continuous development of both countries economies and advanced industries. He assessed that there is great potential for expanding cooperation between Korea and France in various fields, including trade, investment, advanced technology, and social policy. He stressed that for a new leap in bilateral relations, significant and deep cooperation between the two parliaments is necessary. Speaker Bron-Pivet expressed interest in the Korean governments policies for democratic development. President Lee introduced the institutional reforms Korea is pursuing to faithfully reflect the opinions of its citizens in policymaking. The two leaders also discussed ways to enhance cultural and human exchanges. They agreed on the need to activate exchanges and communication between the two parliaments to further develop Korea-France relations. Spokesperson Kang noted that this meeting serves as a catalyst to expand the cooperation between the two countries, which has been concretized through two summits this year, into the parliamentary level, ensuring that the outcomes translate into tangible cooperation felt by the citizens of both nations.* This article has been translated by AI. September 9, 2026 2
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President Lee Jae-myung: My Term is Constitutionally Limited, Restraint Needed When Energy Abounds President Lee Jae-myung: My Term is Constitutionally Limited, Restraint Needed When Energy AboundsPresident Lee Jae-myung stated on September 9 that his term is clearly limited by the constitution, emphasizing the need to act quickly to maximize its benefits. Speaking at a luncheon with expatriates in Paris, during the final leg of his state visit to France, he noted that establishing good relationships in the latter part of his term may lead to limited opportunities. He added that meetings between heads of state and diplomatic engagements provide South Korea, known as an open trading nation, with valuable opportunities for trade, investment, economic cooperation, and security collaboration. Lee remarked, The countries I have visited as part of my initiatives have seen significant increases in export growth, and there has been a rise in private exchanges and corporate cooperation, as well as revitalization within the expatriate community.Court Rules on Kwon Hyuk-bins Divorce Case: 2.5 Trillion Won Asset DivisionThe Seoul Family Court ruled on September 9 that Kwon Hyuk-bin, Chief Vision Officer of Smilegate, must divide 35% of his shares in the company and pay 65 billion won in cash as part of his divorce settlement. The court dismissed claims for alimony from his spouse, determining that Kwon was not responsible for the breakdown of the marriage. The ruling came nearly three years after the case was filed in November 2022. The court assessed Kwons net worth at approximately 73.375 trillion won, with the value of his Smilegate shares accounting for about 99.8% of that total. The court decided to divide the shares in kind rather than in cash, considering that Kwon holds 100% ownership of the company, thus posing no risk to his control over it.Political Parties Clash During Government Q&A on Constitutional AmendmentsOn September 9, lawmakers began a four-day government Q&A session in the National Assembly, focusing on political issues. The Democratic Party called for the inclusion of the spirit of the May 18 Democratic Uprising in the constitution, while the People Power Party raised concerns regarding allegations against Minister of Justice nominee Kim Seung-won and Minister of Gender Equality and Family nominee Yong Hye-in. Democratic Party lawmaker Lee Hae-sik stated, It is unacceptable to destroy democracy in the name of democracy, urging that the spirit of May 18 be enshrined in the constitution to prevent the erosion of freedom. He criticized the People Power Party for not taking action against lawmaker Lee Jin-sook, who hosted a forum that distorted the May 18 movement. In response, Prime Minister Han Seung-sook expressed disbelief at the events occurring in the National Assembly and emphasized the need for appropriate measures against actions that undermine democratic values.Foreign Ministry: Nepal Relief Team to Return on 11th, Second Team Being DeployedThe first team of the Korea Disaster Relief Team (KDRT), dispatched to assist in the aftermath of severe flooding in Nepal, is set to return on September 11 after ten days of search and rescue operations. According to the Ministry of Foreign Affairs, the team, which was sent on September 1, will return aboard a KC-330 multi-purpose air refueling transport aircraft. The team began preparations to withdraw two days before the scheduled return date, as the Nepalese government shifted its focus from search and rescue to recovery efforts, significantly reducing support such as helicopter assistance. Additionally, with no signs of life detected for nine missing South Koreans two weeks after the flooding began on August 26, the government decided to proceed with the return. The KC-330 will also carry relief supplies, including blankets, clothing, and tents donated by civic groups and domestic companies.Prime Minister Han Seung-sook: Listening Closely to Public Concerns Amid Declining Approval RatingsPrime Minister Han Seung-sook addressed the recent decline in President Lee Jae-myungs approval ratings on September 9, stating, We are seriously listening to the voices of the public. During the government Q&A session, she responded to a question from People Power Party lawmaker Yoon Jae-ok regarding the survey results, emphasizing the need to accurately assess what is being done well and what needs improvement. She attributed the decline in approval ratings to the governments failure to meet public expectations and the need for better communication regarding its successes. Regarding recent cabinet reshuffles, she noted that any allegations or issues raised should be addressed through hearings and that it is essential to follow democratic procedures that align with public expectations.* This article has been translated by AI. September 9, 2026 2
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President Lee Jae-myung: My Term is Constitutionally Limited, Restraint Needed President Lee Jae-myung stated on September 9 that his term is clearly limited by the Constitution, so it is essential to start quickly to enjoy its benefits for a long time.During a luncheon with expatriates at a hotel in Paris, part of his state visit to France, he noted, Even if good relations are established in the latter half of my term, the opportunities to utilize them will inevitably be limited. His comments regarding term limits were made in the context of explaining his proactive approach to diplomatic engagement since taking office.President Lee emphasized that meetings between heads of state and diplomatic engagement provide South Korea, known as an open trading nation, with valuable opportunities for trade, investment, economic cooperation, and security collaboration.He added, The countries I have visited as part of my initiatives have seen a significant increase in export growth, and noted that private exchanges have increased, corporate cooperation has flourished, and the expatriate community has become more active.President Lee has expressed his intention to expand meetings with local expatriates during his overseas trips.I want to hear the voices of our expatriates, he said, adding, If necessary, please submit notes, and I will review them individually and inform you of the results.He also assured that the government will continuously address issues affecting the expatriate community, such as dual citizenship, overseas voting, and immigration and adoption matters, promising to engage in thorough dialogue between the French authorities and the South Korean government regarding the living conditions of expatriates.Furthermore, he remarked, South Korea is undergoing tremendous changes as of the night of December 3, 2024, experiencing revolutionary transformations, while cautioning that the French Revolution also faced backlash when the situation was pushed too far in the process of creating a new system.He stressed the need for restraint during times of abundant energy, stating, We must move in a desirable direction while minimizing pain and resistance with the consent of many people.He added, We must not repeat the mistakes of the past, emphasizing the importance of being cautious.Regarding South Koreas international standing, he noted, There are significant changes occurring in advanced industries, cultural arts, and international status, akin to a transformation of the heavens and the earth, assuring that he will work diligently to ensure that expatriates do not have to worry about South Korea.On Korea-France relations, he remarked, It is a remarkable achievement that the South Korean president is visiting France shortly after President Macrons state visit to South Korea, highlighting the many areas of mutual interest between the two countries.He also referenced the joint hosting of a summit on the film and video sectors by the two leaders, stating, This not only showcases the international status of South Korean culture and arts but also indicates where France and South Korea will focus their efforts moving forward. September 9, 2026 2
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Japan Emerges as a Key Hub for Semiconductor Production and R&D Japan is re-emerging as a global hub for semiconductor production and research and development (R&D). Analysts suggest that the ecosystem of materials, components, and equipment is a strong enough incentive to overlook the risks posed by earthquakes.According to industry sources, Samsung Electronics has opened a next-generation semiconductor packaging R&D center in Minato Mirai, Yokohama. The company plans to invest 40 billion yen (approximately $329 million) by 2028, with half of that amount supported by the Japanese government. A total of 95 researchers from South Korea and Japan will work at the facility, which aims to expand joint development with local materials and equipment companies and research institutions.SK Hynix is also considering establishing a factory in Japan. Local media have reported on the potential for a memory production base in Japan, following discussions in February and again last month. While SK Hynix denied the rumors in February, it acknowledged last month that it is exploring various options, including securing additional production bases, although no decisions have been finalized. Chey Tae-won, chairman of SK Group, has indicated that he is reviewing multiple candidate sites in Japan, suggesting that the investment discussions are serious.Some argue that Japans frequent earthquake risks make it an unsuitable location for semiconductor factories. A 7.1 magnitude earthquake struck Kumamoto on July 28, causing TSMCs subsidiary JASM and production facilities of Sony and Renesas to halt or reduce operations.However, many view the earthquake risk as manageable. TSMCs Kumamoto plant resumed normal production on August 3 after equipment inspections. Sony significantly shortened its recovery time from the 2016 earthquake, which had taken over three months, thanks to improved seismic reinforcement and repeated training based on past disaster experiences.Japans competitive edge in semiconductor materials, components, and equipment is a significant advantage. According to data from Japans Ministry of Economy, Trade and Industry, Japanese companies hold 31% of the global semiconductor manufacturing equipment market and 48% of the major materials market. Shin-Etsu Chemical and SUMCO are among the top two global suppliers of silicon wafers, while Tokyo Ohka Kogyo is a leader in photoresists. Ajinomotos subsidiary supplies about 95% of the global market for advanced packaging substrate insulation materials.In the era of AI semiconductors, the importance of proximity in collaboration has increased. As it becomes more challenging to enhance performance solely through advanced processes, the utility of high-bandwidth memory (HBM) and advanced packaging that combines multiple chips has grown. The need for chip manufacturers and materials and equipment companies to align material properties and processes from the early stages of development has heightened the value of research hubs close to suppliers. This industrial shift is cited as a reason for Samsungs decision to expand its packaging R&D base in Japan before establishing production lines.The Japanese governments support is also a crucial factor. The Yokohama research centers investment is half funded by the government. Japan has allocated up to 732 billion yen in support for TSMCs second Kumamoto plant and plans to invest over 10 trillion yen in public support for the AI semiconductor sector by 2030. This strategy aims to attract foreign companies, connect them with domestic suppliers, and stimulate further related investments.The supply chain conflict between South Korea and Japan, which arose from Japans export restrictions on semiconductor materials in 2019, has also shifted. The two countries normalized related regulations in 2023. While the risk of concentrating supply chains in one country remains, industry experts emphasize that as AI competition accelerates, the speed of joint development with necessary materials and equipment companies has become increasingly important.Kim Yang-pyung, a senior researcher at the Korea Institute for Industrial Economics and Trade, stated, The semiconductor industry has limitations in processing all operations within a single country, unlike in the past. We must explore growth strategies through collaboration with Japan.* This article has been translated by AI. September 9, 2026 1
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Semiconductor Industry Faces Challenges Amid Global Competition There is a growing call for South Korean semiconductor companies to strengthen their position within the global ecosystem to maintain their competitive edge. Concerns have been raised about potential technology leaks and domestic job losses as Samsung Electronics and SK Hynix expand overseas, but experts emphasize that strategic territorial expansion is urgent.According to industry sources, TSMC announced in January plans to increase its overseas production base from 15% in 2030 to 20% by 2036. Micron has also diversified its key production lines beyond the U.S. to locations in Taiwan, Singapore, and Hiroshima, Japan.In contrast, most of South Korean companies core memory production lines remain concentrated domestically. While Samsungs advanced foundry in Taylor, Texas, and SK Hynixs packaging facility in Indiana are underway, overseas memory production sites are limited to general products and backend processes in Xian and Wuxi, China. The critical front-end production for next-generation advanced memory processes is still entirely handled by domestic campuses in Pyeongtaek, Icheon, and Yongin.Plans for overseas expansion by these companies are also hindered by concerns from the government and political circles. In June, then-Prime Minister Kim Min-seok stated, The priority should be finding ways to make it work in Korea, rather than saying if it doesnt work in Korea. He criticized SK Group Chairman Chey Tae-won’s comments about considering overseas investments due to challenges like power and water shortages in Korea.However, experts warn that an approach characterized by semiconductor isolationism, which insists on domestic production citing potential technology leaks, could weaken competitiveness. They argue that such a stance may lead to isolation during the global supply chain restructuring.According to the Korea International Trade Association and the Bank of Korea, the domestic localization rate of semiconductor equipment is only about 20%, with reliance on imports from the U.S., Japan, and the Netherlands exceeding 70% for key equipment. In a situation where it is difficult to independently establish the entire process of materials, equipment, and packaging, simply increasing domestic fabs without collaboration with global hubs has clear limitations.Yoon Jeong-hyun, a senior researcher at the Institute for National Security Strategy (INSS), explained, If the state and companies become overly nationalistic about technology, they will prioritize strengthening domestic capabilities over cooperation, which risks leading to exclusive protectionism.This is also a timely opportunity for South Korean semiconductor companies to boldly expand their overseas territories. As of the first half of this year, the combined cash and cash-equivalent assets of Samsung Electronics and SK Hynix approached 278 trillion won, marking the highest level of financial resources available. Unlike in the past, when financial difficulties hindered overseas investments, they now have the capacity to secure global hubs.Major countries are also extending significant incentives. The U.S. is actively attracting advanced fabs with high tariffs and subsidies, while Japan is offering cash support covering up to 50% of factory construction costs to draw global semiconductor companies.Ahn Gi-hyun, executive director of the Korea Semiconductor Industry Association, stated, Expanding territories by leveraging overseas subsidies and favorable location conditions is a strategy to enhance global market dominance, not a risk of technology leakage. It is time to make policy decisions to break free from the frame of protectionism and strengthen ties with the global ecosystem.* This article has been translated by AI. September 9, 2026 1
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Court Halts Fair Trade Commission's Data Submission Order Against Hanwha Group The effectiveness of a data submission order issued by the Fair Trade Commission (FTC) against Hanwha Group has been suspended by a court ruling. Hanwha initiated legal action, claiming procedural issues regarding the review and retention of personal cell phones during the FTCs investigation.On September 9, the Administrative Division 7 of the Seoul High Court granted Hanwha and an employee, referred to as A, a suspension of the data submission order. As a result, the order will remain inactive until January 31, 2027.This case stems from an FTC field investigation conducted from late June to early July, which examined whether there were unfair internal transactions related to brand (trademark) usage fees among Hanwha Group affiliates.Hanwha alleges that during the investigation, the FTC accessed employee As personal text messages without a warrant and issued a related data submission order. The company contends that the FTC exceeded its authority by directly examining the employees personal phone without having obtained a search warrant.The retention of the phone is also a point of contention. Hanwha claims that the FTC investigators kept As phone in a separate location for about 30 hours but did not provide a proper retention record during this time.Hanwha further asserts that the investigation involved coercive tactics, including recording statements without As consent. A has reportedly experienced mental distress following the investigation and is currently on leave.Hanwha and A believe that the data submission order, based on materials obtained through these methods, is also unlawful. They have communicated to the court that the FTC, as an agency that conducts both investigations and sanctions, requires judicial oversight to prevent excessive exercise of investigative authority during field investigations.The courts decision to suspend the order indicates that the procedural issues raised by Hanwha will be addressed in the main lawsuit. However, the suspension does not constitute a final judgment on the legality of the data submission order; it is a temporary measure until a ruling is made in the main case.Hanwha and A have also filed a lawsuit seeking the cancellation of the FTCs data submission order, with the first hearing scheduled for October 29.The FTC has denied Hanwhas claims, asserting that the field investigation was conducted in accordance with legal procedures and that the phone was examined with the consent of A and the companys legal representative. The FTC also refutes allegations of coercive investigation tactics.Hanwha stated, We will fully cooperate with the FTCs investigation, which is being conducted lawfully.* This article has been translated by AI. September 9, 2026 1
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Expert Column: The Policy Competence and Morality of the Administration South Korea is home to a diverse population that includes both older generations who experienced the Japanese colonial period, the Korean War, and rapid economic growth, as well as younger individuals who may not be familiar with significant historical events like the May 18 Gwangju Uprising. This demographic mix has contributed to severe economic polarization.The historical and economic backgrounds create a fertile ground for various perspectives. The role of politicians is to unite the diverse thoughts of the populace and to design a better future.The essence of politics lies in benefiting the people. It is the duty of politicians to act in the interest of the public. When politicians prioritize their own interests over those of the citizens, it leads to public discontent.Recently, the president faced criticism for selling a house while establishing a mortgage. While the president is entitled to invest and engage in real estate transactions, officials who are knowledgeable about policies should ideally refrain from such dealings to avoid potential conflicts of interest.In the stock market, insider trading is considered unfair. Those who trade based on prior knowledge gain an advantage over investors who are unaware of such information.Policy design should focus on enhancing the happiness of the citizens, yet the current approaches to stock and real estate policies seem to be counterproductive, raising concerns. The introduction of single-stock leveraged ETFs has led to significant losses for many investors due to increased market volatility.By using a mortgage to sell an apartment and blocking bank loans, the president has made it more difficult for ordinary citizens to buy or sell properties. With increased property taxes, selling becomes challenging, leaving retirees with a single home and no cash income anxious about tax burdens.The complex tax reforms appear to prioritize punitive taxation and increased revenue collection over stabilizing the real estate market. This approach is not significantly different from those taken during the Roh Moo-hyun and Moon Jae-in administrations.Attempts to suppress demand through punitive taxation have been tried before and did not yield the intended results. This is the background behind the presidents pledge not to control housing prices through taxes. Why, then, is the same method being employed again? Is there a special reason this time?The government should not wield the power of real estate taxation against its citizens. The freedom to relocate is guaranteed by the constitution; should this right be restricted by taxation?The abolition of the prosecution has severely undermined the publics right to protection from crime. It raises questions about what benefits the general public gains from the immunity of corrupt politicians and criminals from prosecution. Is the capability and morality of the police, who have taken on this role, superior to that of the prosecution?Policies that directly affect the daily lives of citizens, such as those related to real estate, the stock market, and the abolition of the prosecution, must be approached with caution.According to a survey by Gallup Korea, 61% of the general public supports maintaining the prosecutions supplementary investigative powers, while 23% favor abolition. Among supporters of the Democratic Party, 46% support maintenance and 39% support abolition.Interestingly, the Democratic Party is pushing for an abolition that is opposed by both the general public and its own supporters, and it has been reported that the president approved the measure without reading it.Political parties must reflect on whether they are blindly following the demands of extreme factions. When significant legislation passes through the National Assembly, it is the presidents responsibility to carefully consider its potential impact on the public and take necessary actions.Policy design and implementation should not be treated as mere tools in a scientific laboratory. There must be thorough simulations of the outcomes of policy implementation and consultations on potential negative impacts to minimize side effects.It seems there is an underlying assumption that the recent amendments to the Criminal Procedure Act, which abolished prosecutorial investigative powers, can be implemented and revised later if issues arise. This could lead to numerous challenges. Convincing workers who benefited from the Yellow Envelope Law that their gains will be taken away is no easy task. Even if the Democratic Party claims that semiconductor investments in Honam are a subject of labor negotiations, it has left itself with little room to argue due to the ambiguity it has created in the law.Arrogance that disregards the market and public sentiment is evident in the ruling partys aggressive legislative push. There is a need to recognize the pitfalls of a system where the number of lawmakers does not reflect public sentiment.The direction of stock prices and real estate, the public harm caused by the amendments to the Criminal Procedure Act, and the controversies surrounding the presidents indictment and re-election will serve as benchmarks for assessing the administrations policy competence and morality.The government must implement sound policies for the comfort of its citizens and the nations development. If cabinet reshuffles are made to prevent a decline in approval ratings due to policy failures, what good will it do if the policy direction remains unchanged? Concerns are mounting.* This article has been translated by AI. September 9, 2026 1
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New Agreements Needed for CPTPP Membership "If Mexican agricultural products come in, our farmers will face even more difficulties. While it is said to be necessary for the development of the Korean economy, I fear that the measures for farmers will be mere window dressing, just like during the Korea-China Free Trade Agreement (FTA) negotiations."This was the sentiment expressed by an agricultural industry representative during a recent meeting. The agricultural sector is closely monitoring the governments push for membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Following a press conference attended by hundreds of farmers, large-scale protests are also being considered.The discussion was ignited by Minister of Trade, Industry and Energy Kim Jeong-kwan, who stated during a presidential briefing on August 4 that the government would consider joining the CPTPP to secure new markets in ASEAN and Mexico and to expand exports of K-content. He further formalized the discussion at a forum, asserting, "It is rather strange for a trading nation like Korea not to join the CPTPP."The agricultural sector, which had felt relieved after successfully blocking agricultural imports during tariff negotiations with the United States, was taken aback. Joining the CPTPP could allow agricultural and fishery products from countries without an FTA with Korea to enter at lower tariffs. Since Korea has not signed an FTA with countries like Mexico among the CPTPP members, there are concerns that products such as Mexican peppers and avocados could enter Korea duty-free.The potential acceleration of market opening during the CPTPP membership process is also heightening farmers concerns. The CPTPP has a higher rate of tariff elimination for agricultural products among member countries compared to existing FTAs, and it is more challenging to set exceptions. This raises fears that the impact on farmers could be greater than that of past bilateral FTAs.The concerns of the agricultural sector regarding CPTPP membership appear to be valid. Recent analyses suggest that the decrease in agricultural production could be greater than during the 2022 discussions on CPTPP membership, as the number of member countries and the scale of trade have both increased since then. Additionally, the fact that the fund for rural cooperation established during the Korea-China FTA negotiations only raised about 30% of its target amount remains a significant concern. This has led to widespread skepticism in the agricultural community about the effectiveness of any proposed measures.However, many experts believe that Koreas membership in the CPTPP is inevitable. Free trade agreements are seen as one of the avenues to maximize exports. Notably, Mexico is a key export market for major Korean products such as automobiles, auto parts, steel, and machinery, and it could serve as a gateway for Koreas entry into North America. This could signal a new direction for the Korean economy in search of growth engines beyond semiconductors.The economic benefits are also expected to be substantial. The Korea Institute for International Economic Policy (KIEP) previously analyzed that joining the CPTPP could increase Koreas real GDP by 0.33% to 0.35% and consumer welfare by $3 billion. The Korea Institute for Industrial Economics and Trade also projected that Koreas net exports could increase by an average of $600 million to $900 million annually over 15 years if it joins.Nevertheless, there should be no agreements that sacrifice the agricultural sector unilaterally, as it is a vital national industry responsible for the countrys food supply. Practical safety measures must be established to minimize the damage to farmers from market opening. The previous voluntary contributions to the rural cooperation fund have proven ineffective.There needs to be a new agreement that can be legislated. Currently, the United States is pushing for the Farm, Food, and National Security Act to elevate agriculture as a national industry. The Korean government can learn from this. If it pursues legislation and corresponding policies, persuading farmers may not be as difficult as it seems.Some experts emphasize the need to treat farmers like quasi-public servants. Given the importance of agriculture in the era of climate crisis, the government should more actively support their livelihoods, with suggestions including increasing direct payments.The significance of agriculture is growing in the context of the climate crisis. It is widely recognized that enhancing food self-sufficiency is crucial to avoid being swayed by external variables. If trade is restricted to protect farmers, economic growth could be hampered. It is essential to devise new measures for the development of the agricultural sector while also ensuring the creation of national wealth. Membership in the CPTPP is no longer a matter of avoidance or delay.* This article has been translated by AI. September 9, 2026 1
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South Korea Addresses Discussions on Potential Deployment to Hormuz Strait The South Korean government is working to clarify discussions surrounding the potential deployment of troops to the Hormuz Strait, stating that these talks have advanced beyond the governments review stage. The administration emphasized that contributing to freedom of navigation in the region does not necessarily equate to a decision to deploy troops, and any final judgment will be made following discussions at the National Security Council (NSC). Seong Gi-hong, the Chief of Public Communication at the Blue House, appeared on the YouTube program Mae Bul Show on September 9, stating, The government has not yet made a final decision and is proceeding with caution. Seong pointed out that fragmented information from various government sectors has led to discussions suggesting that a deployment has already been decided. He clarified, We are in the stage of reviewing various options, and noted that there is a difference between reported deployment plans and actual government discussions. Regarding the agreement between President Yoon Suk Yeol and French President Emmanuel Macron to cooperate on freedom of navigation in the Hormuz Strait, Seong cautioned against overinterpretation. He stressed that contributions to freedom of navigation should not be equated with troop deployment. As for the decision-making process moving forward, Seong explained that opinions from relevant ministries and various levels will be consolidated at the NSC, after which President Yoon will make the final decision. He noted that individual review opinions have not yet been officially reported to the president or compiled into a unified government stance. Seong also addressed speculation linking the deployment issue to trade negotiations with the United States. He acknowledged that the U.S. is seeking cooperation from various countries but asserted, The decision will be made based on the autonomous judgment of the South Korean government. On domestic political issues, Seong assessed that conflicts within the progressive camp have impacted the recent decline in presidential approval ratings. He remarked that the heated competition leading up to the Democratic Partys national convention after the local elections has revealed fractures within the support base, stating, We view this very seriously. In response to criticisms that the governments reform commitment has weakened, Seong acknowledged that the Blue House is aware of this perception. He emphasized the need to faithfully reflect the presidents reform intentions in policy formulation and execution, and to communicate this sincerity to the public. Regarding the possibility of constitutional amendments, including the presidents re-election, Seong reaffirmed the existing position that a constitutional amendment allowing re-election for the sitting president is not feasible, stating, There is no change in this regard, and noted that President Yoon will listen to relevant opinions before making a judgment. Concerning Kim Ji-yong, the nominee for the inaugural head of the Serious Crimes Investigation Agency, who has a history of opposing prosecutorial reforms, Seong indicated that the nominee will clarify his stance and attitude in line with the responsibilities he will assume during the National Assemblys confirmation hearing. September 9, 2026 1
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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 -
Global Automakers Urge U.S. Congress to Block Chinese Car Market Entry Major automakers, including Hyundai, Toyota, and Volkswagen, are calling on U.S. lawmakers to enact legislation that would prevent the entry of Chinese-made vehicles and related technologies into the American market. This proactive measure aims to establish regulatory barriers before Chinese automakers fully penetrate the U.S. market.According to industry sources, the Alliance for Automotive Innovation (AAI) recently sent an official letter to Congress requesting the passage of a bill that would permanently block the entry of Chinese vehicles and connected vehicle software and hardware into the U.S. market by the end of the year.AAI represents major global automakers that sell vehicles in the U.S., including Hyundai, General Motors, Ford, Toyota, Volkswagen, Honda, and Stellantis. The organization conveys the collective stance of the American automotive industry to Congress and the administration, influencing regulations related to trade, environment, safety, and technology.AAI claims that Chinese automakers, backed by U.S. government subsidies, are dumping vehicles and software and hardware globally, raising concerns that sensitive information related to U.S. automotive and consumer data could be collected in the process. The data collection and transmission through software and hardware in connected cars could pose a national security threat by providing access to critical infrastructure and sensitive information.This initiative is seen as a preemptive effort to block the potential entry of Chinese automakers into the U.S. market. Currently, high tariffs and stringent regulations have effectively halted the official sale of Chinese-made vehicles in the U.S. However, Chinese companies are rapidly expanding their market presence through bases in neighboring Canada and Mexico.Legislation is currently underway in Congress. In July, the Senate Commerce Committee unanimously passed a bill aimed at strengthening regulations on Chinese connected vehicles and related technologies. The bill is now awaiting review by the full Senate.* This article has been translated by AI. September 9, 2026 1
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Tofu Industry Faces Crisis Due to Severe Shortage of Imported Soybeans “Tofu factories, which are a staple food for the public, are on the verge of stopping production due to a lack of soybeans for tomorrow.”Choi Seon-yun, chairman of the Gangwon Special Self-Governing Province Food Cooperative, made this statement on September 9 during a press conference at the Korea Federation of Small and Medium Businesses in Yeongdeungpo, Seoul. He emphasized that domestic tofu factories require at least 250,000 tons of imported soybeans annually to operate normally, but the governments supply plan for this year falls short by 30,000 tons, providing only 220,000 tons.The industry is calling for the implementation of a 0% tariff quota on processing soybeans and the abolition of import profit sharing, which increases the burden on companies. They also stressed the need to transition from a state-run trade structure centered around the Korea Agro-Fisheries & Food Trade Corporation (aT) to a private, self-directed direct import system focused on actual demand.Choi argued that domestic and imported soybeans should be managed separately due to differences in price, consumer base, and processing characteristics. He insisted that to resolve the recurring supply and demand instability, supply guidelines should be established based on a practical demand of over 250,000 tons annually.“If we use domestic soybeans, which are 3 to 4 times more expensive than imported ones, we would have to sell tofu, currently priced at 1,000 won, for 3,000 to 4,000 won,” he pleaded.Kim Seok-won, chairman of the Gwangju-Jeonnam Food Industry Cooperative, stated, “The tofu processing industry is facing an unprecedented crisis that may force factories to halt operations. If the government delays its decision, the consequences will lead to the closure of small businesses and an increase in living costs for ordinary citizens.”* This article has been translated by AI. September 9, 2026 1
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Naver Z, First Strike Amid Wage Freeze Dispute; Full Strike Planned for 23rd Naver Z, which operates the metaverse platform Zepeto, has entered its first strike amid a wage freeze dispute. The union plans to escalate its actions, starting with a four-hour partial strike on September 9 and a full strike scheduled for the 23rd.According to the ICT industry on September 9, members of the Naver Z union, part of the Korean Confederation of Trade Unions, conducted a partial strike from 1 p.m. to 5 p.m. This marks the first time the union has taken actual strike action within the Naver Group.The core issue of the dispute is this years wage increase rate. Naver Z management proposed a wage freeze due to business conditions, while the union is demanding a 5.3% increase, which was agreed upon by Navers headquarters and major affiliates. The two sides have been unable to narrow their differences during wage negotiations.The union applied for labor dispute mediation with the Gyeonggi Provincial Labor Relations Commission, but no agreement was reached in two rounds of mediation. Following the suspension of mediation on July 24, a vote on whether to take strike action showed an 88.6% turnout, with 98% in favor, granting the union the right to strike.Following the partial strike, the union plans to expand its collective actions if there is no change in managements stance. A full strike is planned for the 23rd, and if negotiations do not progress, the union may escalate to a strike lasting up to five days.This strike by the Naver Z union is intertwined with demands for integrated negotiations, which call for Navers headquarters to participate in wage discussions with its affiliates. The union held a declaration ceremony for integrated negotiations on August 20, insisting that the headquarters should discuss wages and working conditions with its subsidiaries.* This article has been translated by AI. September 9, 2026 1
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SBI Savings Bank First in Korea to Achieve International Customer Satisfaction Certification SBI Savings Bank announced on September 9 that it has become the first bank and savings bank in South Korea to obtain the international standard certification for customer satisfaction management, known as ISO10002.ISO10002 is a standard established by the International Organization for Standardization (ISO) that recognizes organizations with systematic and fair processes for handling customer requests and complaints. In South Korea, the certification is granted after an evaluation by the Korea Productivity Center, which operates under the Ministry of Trade, Industry and Energy.SBI Savings Bank explained that it received the certification due to its recognized processes for handling customer complaints and its management system aimed at enhancing customer satisfaction.With this certification, SBI Savings Bank aims to increase the reliability of its complaint handling procedures, proactively prevent customer dissatisfaction, and strengthen its rapid complaint resolution system.Kim Moon-seok, CEO of SBI Savings Bank, stated, We recognize customer-centric management as a core value and are making company-wide efforts to enhance customer satisfaction. We will listen more closely to our customers voices and treat them as valuable assets for our growth, striving to become a trusted financial institution.* This article has been translated by AI. September 9, 2026 1