HKMA warns of uncertainties after raising rates

RTHK - Sep 17, 2026

The chief executive of the Hong Kong Monetary Authority (HKMA), Eddie Yue, on Thursday warned about considerable uncertainties over the city's future borrowing costs, though he noted the SAR's bad debt ratio had remained stable. This came after the city's de facto central bank raised its base rate by a quarter of a percentage point to 4.25 percent, hours after the US Federal Reserve lifted its target range by the same margin to between 3.75 percent and four percent. HSBC announced it is keeping its prime lending rate unchanged, while other banks are expected to announce their rates soon. The moves by the Fed and the HKMA marked their first rate hike in over three years since July 2023, when they also raised rates by 25 basis points. Speaking at a press conference, Yue noted that while the Fed's decision came in line with market expectations, it reflected US policymakers' concerns on the inflation outlook. "US interest rate adjustments are subject to considerable uncertainties, which may influence the interest rate environment in Hong Kong," he said. "The public should carefully manage interest rate risks when making financial decisions," he added. Looking ahead, he said the city's base rate outlook will depend on various factors, including the Hong...

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Singapore Management University president highlights growing role of social sciences in AI era

SINGAPORE — As artificial intelligence (AI) reshapes how businesses operate, governments make policy and people work, the skills needed to navigate its impact are extending far beyond technology — putting greater emphasis on human judgment, critical thinking and an understanding of society. Singapore Management University (SMU) President Lily Kong believes that shift will make the social sciences and management increasingly important in the AI era, as universities are tasked not only with teaching students how to use the technology, but also to question its output, understand its consequences and apply it responsibly. “I think that the more capable that AI becomes, the more valuable human judgment becomes,” Kong said in a recent interview with The Korea Times. For Kong, AI is not just a technological shift. As it reshapes workplaces, business decisions and public policy, universities must equip students to understand and manage its broader impact on society. She said SMU’s focus on management, social sciences and technology puts it in a strong position to prepare students for t

Singapore Management University president highlights growing role of social sciences in AI era

5-year term upheld for drunk driver who killed Japanese woman

A court of appeals on Thursday upheld a five-year prison sentence for a man in his 30s who was indicted for drunk driving in downtown Seoul and hitting a Japanese woman and her daughter last year, killing the mother. The appellate division of the Seoul Central District Court issued the ruling after dismissing the appeal filed by the man identified only by his surname Seo, saying there were no grounds to reduce his sentence or grant him leniency. Seo is accused of drunk driving after consuming three bottles of soju on the night of Nov. 2 last year and hitting the two Japanese women as they crossed a pedestrian crosswalk near Dongdaemun Station in Seoul's Jongno Ward. The mother in her 50s was taken to a nearby hospital in cardiac arrest and later died, while her daughter in her 30s sustained minor injuries. Seo's blood alcohol concentration was 0.212 percent, well above the 0.08 percent legal threshold for license revocation. The accident reportedly occurred on the first day of the two women's three-day trip to Korea. In early May, the Seoul Central District Court sentenced Seo to five ye

5-year term upheld for drunk driver who killed Japanese woman

Korea, France stage joint air drills to enhance interoperability

Korea and France staged a joint aerial exercise this week aimed at enhancing interoperability between their troops, the Korean Air Force said Thursday. The three-day drills, which kicked off Tuesday, took place at an air base in Cheongju, about 110 kilometers south of Seoul, according to the armed service. It marks the first joint drills between Korea and France in three years. The Air Force mobilized its F-35A stealth jets and KC-330 Cygnus multirole aerial tankers, among others, while the French Air Force deployed two Rafale fighter jets and an A-330 aerial refueling tanker for the drills. The French team was mobilized as part of France's "Pegase" mission designed to inspect its interoperability and deterrence capabilities with allied forces. The exercise is scheduled to take place across nine countries, including Canada, the United States and Japan, from Sept. 8 through Oct. 15. On Wednesday, the Korean and French air forces conducted mutual aerial refueling designed to enhance the understanding of their respective aerial refueling systems. The air forces also staged joint tactical flig

Korea, France stage joint air drills to enhance interoperability

Korea's 1st unmanned military ground vehicle gets ready for battlefield

CHANGWON, South Gyeongsang Province — As an employee walked across a test track at Hanwha Aerospace’s Changwon Plant 2, a four-wheeled vehicle trailed several meters behind, matching his path without anyone at the controls. The vehicle was the Arion-SMET, Korea’s first multipurpose uncrewed ground vehicle selected for military deployment. “The Arion-SMET can autonomously follow a soldier in front without any intervention from the operator,” said Lee Yun-su, a research engineer at Hanwha Aerospace’s Manned-Unmanned Teaming R&D Center, during the demonstration Monday. The vehicle then picked up speed under remote control. It can travel at up to 60 kilometers per hour, allowing it to leave dangerous areas or deliver supplies, according to the company. A 7.62-millimeter remote-controlled weapon station mounted on top swiveled toward a target on the test ground. Even as the vehicle moved, the weapon remained trained on it. For the final demonstration, another Hanwha employee loaded supplies onto the vehicle and pressed a button on its side. With no driver aboard, the Arion-SMET mov

Korea's 1st unmanned military ground vehicle gets ready for battlefield

Lee vows to crack down on transnational crimes, scalping

President Lee Jae Myung said Thursday that he will root out transnational crimes, including voice phishing targeting Koreans. Lee made the remarks on social media while sharing a video showing the arrest of members of a scam ring hiding in Kazakhstan in a joint operation with the local government. "The notion that one can avoid capture by staying abroad must now be abandoned," Lee said, adding that anyone who commits crimes against Koreans will be thoroughly tracked down and punished, no matter where in the world they are hiding. Lee expressed gratitude to Kazakh President Kassym-Jomart Tokayev and the Kazakh authorities for their active cooperation in busting the large-scale voice phishing ring. The Korean National Police Agency announced on Aug. 5 that investigators from a governmentwide special task force on transnational crimes apprehended 14 members of the Korean scam ring in the joint operation in Almaty, Kazakhstan, on July 23. Lee also vowed to crack down on scalpers, while sharing a news report about the arrest of a scalper who had made several billion won by purchasing tickets t

Lee vows to crack down on transnational crimes, scalping

Sungkyunkwan University research offers design guidelines for organic solar cells

A Sungkyunkwan University research team has analyzed an ultrafast process through which electricity is generated in organic solar cells, offering design guidelines for developing more efficient materials. The university said Monday that the team, led by chemistry professors Kim Tae-yeon and Ko Doo-hyun, conducted the analysis, providing insights for the development of higher-performance solar cell materials. Organic solar cells are a next-generation clean energy technology prized for their flexibility and transparency. The silicon solar panels commonly seen on rooftops are heavy and rigid. Organic solar cells, by contrast, use lightweight, thin films that can be bent and shaped, making them a promising technology that could be integrated into windows or even clothing. More recently, non-fullerene acceptors have emerged as a new class of materials that can significantly improve the efficiency of converting sunlight into electricity. However, exactly how electricity is generated in these materials at the moment they absorb sunlight has remained uncertain. To unravel this mystery, the researc

Sungkyunkwan University research offers design guidelines for organic solar cells

9 sent to prosecution for alleged extortion targeting foreigners in Yangsan, Gimhae

Police have referred nine individuals to the prosecution on suspicion of intimidating and extorting money from foreign nationals operating unregistered motorcycles in the southeastern cities of Yangsan and Gimhae, local authorities said Thursday. According to the Yangsan Police Station, two suspects in their 20s allegedly extorted about 2 million won ($1,450) from foreign riders on 24 occasions between June and July in the city located some 300 kilometers southeast of Seoul by threatening to report them to police. They actually did so when victims claimed they had no money. The suspects apparently targeted foreigners knowing they would not be reported to the police as the victims feared their own undocumented status or operation of unregistered motorcycles would be exposed. Similarly, seven teenagers in Gimhae, about 300 kilometers southeast of Seoul, were transferred to the prosecution on suspicion of intimidating foreign motorcyclists without license plates, such as by kicking their vehicles, in September 2025 and June 2026, according to the Gimhae Seobu Police Station. Police noted, h

9 sent to prosecution for alleged extortion targeting foreigners in Yangsan, Gimhae

Illegal imports of weight-loss drugs top 5,000 through Aug.: customs agency

Korea's customs agency said Thursday the number of attempted illegal imports of weight-loss medications, such as Wegovy and Mounjaro, surged from a year earlier to exceed 5,000. A total of 5,030 cases involving the illegal import of weight-loss drugs through overseas direct purchases and other illicit channels were detected in the January-August period, far exceeding the 1,189 cases tallied for all of last year, according to data compiled by the Korea Customs Service. The customs agency has been working closely with the Ministry of Food and Drug Safety to inspect imported medications as part of efforts to protect public health from unauthorized products. While Wegovy and Mounjaro are prohibited from being brought into the country in travelers' hand luggage, a growing number of Koreans have attempted to purchase the medications from neighboring countries due to price differences. "The customs agency conducts X-ray scans and baggage inspections and returns or discards products that do not meet import requirements," the agency said. "If violations go beyond a failure to meet import requireme

Illegal imports of weight-loss drugs top 5,000 through Aug.: customs agency

Gov't supports bill easing restrictions on civilian contact with N. Koreans: lawmaker

The government has expressed support for a bill that would ease restrictions on South Koreans seeking to contact North Korean residents by removing its authority to block such contacts, officials said Thursday. Under the Inter-Korean Exchange and Cooperation Act, South Korean nationals planning to make contact with North Koreans are required to file a report in advance with the unification ministry. The ministry may reject such requests if there are clear concerns that the contact may undermine inter-Korean cooperation or pose a threat to national security, public order or public welfare. A revision proposed by Rep. Kim Joon-hyung of the minor Rebuilding Korea Party seeks to remove the government's authority to reject such requests, and the government has decided to support the move, Rep. Ahn Cheol-soo of the main opposition People Power Party said, citing a report from the unification ministry. The ministry confirmed its position, saying, "The government supports the proposed revision, considering the law's purpose of promoting inter-Korean exchanges and cooperation, operating a system

Gov't supports bill easing restrictions on civilian contact with N. Koreans: lawmaker

President Lee set to meet IEA chief to discuss energy security

President Lee Jae Myung will meet with International Energy Agency (IEA) Executive Director Fatih Birol on Thursday to discuss energy security and other global issues, his office said. The meeting at Cheong Wa Dae was arranged as a follow-up to Lee's proposal during the Group of Seven summit in June to discuss ways to cooperate to strengthen the resilience of Asia-Pacific nations' energy supply chain, it said in a press release. Lee and Birol plan to share views on ways to strengthen global energy security amid the intensifying energy and climate crises seen in the recent war in the Middle East and devastating flood in Nepal. Birol has been at the forefront of efforts to overcome the global energy crisis, such as by getting IEA member countries to release 400 million barrels of oil from their emergency reserves in response to the Middle East conflict in March, the presidential office said.

President Lee set to meet IEA chief to discuss energy security

Special counsel team raids election watchdog in probe into ballot shortages

A special counsel team on Thursday raided the national election watchdog and other local election commissions as part of its probe into shortages of ballots during the June 3 local elections. It marked the first raid by special counsel Lee Tae-han's team after its launch on Sept. 7 to investigate the shortages that sparked major public outcry after some voters were forced to turn back without casting their votes. Lee's team sent investigators to nine locations, including the National Election Commission (NEC) based in Gwacheon, just south of Seoul, and the local election commissions of Gyeonggi Province, Incheon, Busan and Daegu. Investigators seek to seize internal records in connection with the ballot shortages. During the elections, the shortages led to voting disruptions at some polling stations in Gyeonggi that surrounds the capital, the western city of Incheon, and the southeastern cities of Busan and Daegu. The special counsel team is tasked with investigating the election watchdog's management of ballot papers and suspected tampering of voter turnout data during the local election

Special counsel team raids election watchdog in probe into ballot shortages

Korean Catholic Church voices 'deep concerns' over abortion bill plan

The Korean Catholic Church has expressed "deep concerns" over government plans to formally introduce abortion pills and urged for a reconsideration. The Catholic Bishops' Conference of Korea (CBCK) made the call in a statement issued Wednesday after the government announced plans to allow the use of abortion pills by women up to nine weeks pregnant. "The CBCK voices deep concerns as this measure would only institutionalize abortion in an 'orderly' manner, without changing its fundamental nature, while allowing a disregard for life to be more deeply rooted in our society," the organization said. The Korean Catholic Church said the phased introduction of abortion pills is merely a "road map" to expand them, stressing that regardless of how well the process is built, it does not change the fact that the pill kills a human life in the womb. The CBCK said a society that truly respects humans is not one that gets rid of the most vulnerable life to ease the difficulties of women but one that takes the responsibility so that women would not have to give up on new life. In such a regard, it asked

Korean Catholic Church voices 'deep concerns' over abortion bill plan

Chungnam National University students complete AI research program in US

Chungnam National University on Tuesday welcomed students who had returned from the University of Illinois Urbana-Champaign (UIUC) in the United States after completing research projects there. The welcome ceremony was organized by the university’s National Center of Excellence in Software project team and its affiliated Convergence Security Research Center. Chungnam National University said the ceremony brought together students in the Global Software & AI Talent Program and related university officials. Twenty-four students participated in the AI and Generative Models: From Algorithms to Applications research program. Students from the School of Computing and Artificial Intelligence and the Department of Artificial Intelligence in the College of Engineering were selected to participate in the four-week program at UIUC, beginning July 10. Upon their return, they presented the final results of the projects they carried out during their stay at the U.S. university, while also sharing their experiences there. The students conducted a range of advanced research projects focused on generati

Chungnam National University students complete AI research program in US

Ex-President Yoon indicted over wife's luxury bag case

Prosecutors on Thursday indicted former President Yoon Suk Yeol on anti-graft charges in connection with his wife's alleged acceptance of a luxury bag in 2022, officials said. It marks the latest criminal indictment against the jailed former president, who is standing multiple trials following his failed 2024 martial law bid and subsequent ouster from office. In the latest case, Yoon faces charges of failing to report former first lady Kim Keon Hee's alleged receipt of the Dior bag, worth 3 million won ($2,170), from a pastor in 2022 as required by the anti-graft law, according to the Seoul Central District Prosecutors Office. Prosecutors had decided not to pursue charges over the case in October 2024, when Yoon served as president, citing a lack of connection to his official duties. The latest move comes after a Seoul district court in June convicted Kim on charges of accepting the luxury bag among other valuables in exchange for favors. The case is currently under review at an appellate court. Separately, prosecutors decided not to indict Yoon on charges of violating the election law fo

Ex-President Yoon indicted over wife's luxury bag case

Busan unites foreign workers through sports, culture, safety

On the factory floors and shipyards of Korea’s second-largest city, foreign laborers power key sectors of the regional economy. Home to over 60,000 foreign residents, the southeastern port city of Busan relies heavily on migrant workers to keep its industrial hubs running. This weekend, city authorities are swapping heavy machinery for tug-of-war ropes, traditional folk dances and workplace safety quizzes to help those workers feel more at home. The city of Busan said Thursday that it will host its third annual Sports and Cultural Festival for foreign workers Sunday. Running from 12 p.m. to 5 p.m. at Hwaam Park in the Gangseo District — a heavy industrial heartland housing hundreds of manufacturing plants — the event is expected to draw roughly 700 foreign workers, their families and local community leaders. Organized by the Busan Foreign Worker Support Center and backed by the city government along with local labor unions, the gathering aims to build community bridges in a country rapidly turning to overseas labor to offset its shrinking domestic workforce. The festival blends recr

Busan unites foreign workers through sports, culture, safety

Korea Foundation honors US Peace Corps vets for decades of grassroots diplomacy

The Korea Foundation (KF) presented the 10th Korea Foundation Award to Friends of Korea (FoK), Wednesday, at The Plaza Hotel in Seoul, honoring the nonprofit for its decades of grassroots diplomacy and dedication to fostering ties between Korea and the United States. Founded in 2002 by former U.S. Peace Corps volunteers who served in Korea from the 1960s through the 1980s, FoK has spent over two decades deepening mutual understanding between the two nations. The Peace Corps originally deployed thousands of young Americans to teach English and support rural development across Korea. Since then, FoK has built an extensive historical archive of those early missions while promoting Korean culture in the U.S. through public education, publishing and community outreach. The award ceremony served as a celebration of enduring cross-cultural bonds. FoK Chairman Gerard Krzic and board member Jenna Gibson accepted the top honor on behalf of the group, presenting KF President Song Gui-do with a commemorative plaque titled "Sixty Years of Friendship" to mark six decades of Peace Corps' legacy in Ko

Korea Foundation honors US Peace Corps vets for decades of grassroots diplomacy

Seoul city to hike Han River ferry fares for weekends starting next year

The Seoul city government said Thursday it seeks to increase fares for its Han River ferry shuttle service on weekends and public holidays next year in a bid to better distribute costs. The "Hangang Bus" service fare is expected to rise from the current 3,000 won ($2.17) to around 5,000 to 10,000 won on weekends and holidays next year, the city said, as the service marks its first anniversary Friday. The ferry service links major points along the Han River that runs through the capital, and has carried more than 600,000 passengers since its launch on Sept. 18, 2025, according to the city government. The city is pushing for the fare hike as there is more demand for the service on weekends, a city official said, adding that a final decision is expected to be made in April next year after public hearings. Seoul Mayor Oh Se-hoon said the city also plans to increase the number of piers and ferries to reduce waiting intervals to 15 minutes, while diversifying routes by introducing an express service. The city government said it plans to expand the ferry service into a form of public transit bey

Seoul city to hike Han River ferry fares for weekends starting next year

Confirmation hearing reports adopted for justice, defense minister nominees

Parliamentary confirmation hearing reports were adopted for the justice and defense minister nominees Thursday amid objections from the main opposition People Power Party (PPP). The parliamentary legislation and judiciary committee adopted a confirmation hearing report for Justice Minister nominee Kim Seung-won as the ruling Democratic Party of Korea (DPK) forged ahead despite PPP lawmakers' boycott, protesting that allegations surrounding Kim were not fully addressed. "None of the allegations raised during the hearing have been resolved," PPP Rep. Park Hyeung-soo said before walking out of the session. The DPK argued that the nominee sufficiently explained himself during Tuesday's confirmation hearing, including claims that he illegally lobbied the food and drug safety ministry to speed up approval for a COVID-19 treatment in 2021 at a broker's request. Kim, a two-term lawmaker, served as a judge at the Jeonju District Court and the Suwon District Court before joining the presidential office under the liberal Moon Jae-in administration, where he worked in the office of political affairs

Confirmation hearing reports adopted for justice, defense minister nominees

Doosan Corp. bets $700 mil. on chip substrate material biz

Doosan Corp., the holding company of Doosan Group which also operates an electromaterials business, will invest 970 billion won ($702.6 million) to expand its production capacity for copper clad laminates (CCLs), a key material for advanced semiconductor substrates. Doosan Corp. said in a regulatory filing Thursday that its board approved investment to expand the domestic and overseas production capacity of its electromaterials business unit. Under the plan, the company will invest 970 billion won by Dec. 31 next year to expand its production capacity in Korea and overseas. The investment is the largest in Doosan Corp.’s history and accounts for about 8 percent of its equity capital. CCL is a key material used in advanced chip substrates and printed circuit boards (PCBs) found in virtually all electronic devices. The market for the material has remained strong in recent months as demand continues to outpace supply across the broader semiconductor value chain. Doosan Corp. will spend 420 billion won to expand its domestic production lines for CCLs used in optical transceivers — device

Doosan Corp. bets $700 mil. on chip substrate material biz

LG chairman stresses 'prompt, tenacious execution' in AI investment

LG Group Chairman Koo Kwang-mo stressed “prompt and tenacious execution” in making investments in artificial intelligence (AI) businesses, asking affiliate CEOs to treat AI as a key factor that will determine the group’s future competitiveness. According to the group, Thursday, Koo made the comments during a meeting with LG affiliate presidents at the group’s training center in Icheon, Gyeonggi Province, a day earlier. The meeting was attended by Koo and over 40 top executives of LG Electronics, LG Display, LG Innotek and other key affiliates. Participants explored how AI is bringing changes to the industrial and technological landscape and discussed investment priorities and execution plans to secure future competitiveness. “AI is no longer an area where we can selectively choose whether to respond,” Koo said. “It is the key pillar that will determine our future competitiveness. I ask our CEOs to focus on prompt and tenacious execution so that we can win in the future competition driven by AI.” During the meeting, participants reviewed past investments in areas including

LG chairman stresses 'prompt, tenacious execution' in AI investment

KT joins state project to build AI-driven 'dark factory' solutions

KT said Thursday it has joined a government-led research project to develop design and construction solutions for "dark factories" — fully automated, unmanned plants that run around the clock using artificial intelligence (AI) across every stage of production. The project falls under a Ministry of Science and ICT initiative to build a research and development ecosystem for a software platform based on collaborative intelligence and physical AI. It aims to build a dark factory near Jeonbuk Innovation City in North Jeolla Province. Besides KT, the Korea Advanced Institute of Science and Technology, LG Energy Solution, Harim Foods, Shinsung E&G and the Korea Productivity Center are taking part as joint research institutions. KT will develop a system built on modular edge AI data center infrastructure — compact, distributed AI data centers pre-assembled on factory floors — to generate and verify Sim-Ready synthetic data, or digital data usable in virtual simulation environments, along with an integrated environment for operating AI agents. Through the research, KT aims to resolve error

KT joins state project to build AI-driven 'dark factory' solutions

CJ ENM eyes European growth with major brand push in Poland

CJ ENM, the Korean entertainment powerhouse behind hits like "Parasite" and Studio Dragon dramas, is widening its reach into Central and Eastern Europe. Following its participation in the 2026 Korea-Poland Brand Week in Warsaw on Tuesday and Wednesday, the media company announced plans Thursday to accelerate content distribution and forge local production alliances across the region. The event was hosted by the Ministry of Culture, Sports and Tourism and organized by the Korea Creative Content Agency (KOCCA). During the two-day event, CJ ENM signed a memorandum of understanding with the Korean Cultural Center in Poland and KOCCA to expand the reach of Korean content in the country. Under the agreement, the company plans to widen exchanges with European institutions and broaden the footprint of Korean content through screenings, promotional events and other programs. CJ ENM ran experience booths tied to its dramas "Lovely Runner" and "The Legend of Kitchen Soldier," letting visitors engage directly with the shows. It also held a special screening of "The Legend of Kitchen Soldier," alongsi

CJ ENM eyes European growth with major brand push in Poland

Hansae Mobility increases commitment in Uzbekistan

Senior executives from Hansae Yes24 Group attended a Korea-Uzbekistan business forum in Seoul as the conglomerate moves to expand investment and localize operations in Uzbekistan, the group said Thursday. Hansae Yes24 Holdings Vice Chairman Kim Suk-hwan, Hansae Vice Chairman Kim Ik-whan and Hansae Mobility CEO Sung Nag-gon joined the forum at the Shilla Seoul hotel on Tuesday. The event, jointly hosted by Uzbekistan President Shavkat Mirziyoyev and Korean Prime Minister Han Seong-sook, brought together government officials and business leaders from the two countries to discuss Uzbekistan’s investment environment and ways to broaden strategic economic cooperation. Hansae Mobility, one of the group’s future growth engines, has worked with Uzbekistan automaker UzAuto Motors since its early stages. The Korean company began localizing production of key automotive components late last year and started full-scale mass production this month. Hansae Mobility plans to invest a total of $25 million in Fergana Province. It has invested $13 million in the first phase this year and plans to add $1

Hansae Mobility increases commitment in Uzbekistan

Hanwha, EDGE to build UAE's integrated air defense network

Hanwha Systems will team up with the United Arab Emirates’ state-run defense conglomerate EDGE to establish an integrated air defense network, covering long- and medium-range capabilities as well as counter-drone defenses. According to Hanwha Systems, Thursday, the CEOs of the two companies signed a term sheet for the air defense network project during a ceremony in Abu Dhabi on Tuesday (local time). The term sheet outlines the direction of the planned introduction of weapons systems for the integrated air defense network and review agendas at each stage of the project. The two sides plan to determine details of the project in line with the direction of defense cooperation between the two countries. Through government approvals and consultations, the two companies will pursue establishing a local joint venture and discuss its operation and local production. Through the partnership, Hanwha Systems plans to expand its role from supplying individual weapons systems to participating in the integrated air defense network, by linking ground weapons systems, including the Chunmoo multiple roc

Hanwha, EDGE to build UAE's integrated air defense network

Korean Air finalizes $44.8 bil. purchase plan announced last year

Korean Air has finalized contracts to purchase 103 next-generation Boeing aircraft and aircraft engines and maintenance services from U.S. companies in deals worth a combined $44.8 billion, completing a major U.S. procurement plan announced last year. The airline said Wednesday that it signed final agreements covering $36.2 billion worth of Boeing aircraft and $8.6 billion in spare engines and engine maintenance services from GE Aerospace and CFM International. The deals finalize the $44.8 billion U.S. purchase plan announced by Hanjin Group Chairman Cho Won-tae in Washington in August 2025, during President Lee Jae Myung's visit to the United States. Korean Air said the signing ceremony was held Tuesday at the Conrad Seoul hotel in Yeouido and jointly hosted with Boeing. Senior executives attending the event included Cho, Boeing Commercial Airplanes President and CEO Stephanie Pope and CFM International President and CEO Gaël Méheust. Government and financial officials from Korea and the United States also attended, including Korean Minister of Trade, Industry and Resources Kim Jung-k

Korean Air finalizes $44.8 bil. purchase plan announced last year

Seoul's streetwear titan Musinsa expands physical footprint to Shenzhen

Musinsa, the Korean e-commerce titan that built an empire out of Seoul’s trendsetting streetwear scene, is doubling down on physical retail in China. The company will open locations on Oct. 31 for both its flagship multibrand boutique and its private-label basic line, Musinsa Standard, side by side in Shenzhen — marking its expansion beyond eastern China into the country's southern fashion hub. The Korean fashion platform said Thursday that both stores will open at ONE AVENUE, a major mixed-use shopping complex in Shenzhen’s Futian central business district. The move marks Musinsa’s first offline expansion into southern China after establishing retail operations centered on Shanghai and Hangzhou. The company said Shenzhen, a major economic and industrial center in southern China, has a large population of young consumers with strong purchasing power. Musinsa Store will initially carry about 30 Korean fashion brands, with plans to add more based on customer response and demand. The store is intended to serve as an offline base for introducing Korean fashion labels to Chinese consume

Seoul's streetwear titan Musinsa expands physical footprint to Shenzhen

Noul brings AI cervical cancer screening technology to Indonesia

Noul, a Korean medtech firm specializing in artificial intelligence (AI)-driven diagnostic tools, has entered the Indonesian market through its first supply agreement for an automated cervical cancer screening system as the Southeast Asian nation works to scale up preventive care. The company said Thursday it signed the agreement with an Indonesian medical device distributor and plans to supply at least 50 miLab CER units to local medical institutions and laboratory networks over three years. Noul said it will initially work with hospitals, screening centers and laboratory networks before seeking opportunities in Indonesia’s public procurement market. The company said it has secured regulatory approvals for miLab CER in several Southeast Asian markets, including Vietnam and the Philippines, providing a foundation for further expansion across the region. Indonesia, with about 280 million people, is Southeast Asia’s largest health care market, according to Noul, which said cervical cancer places a significant burden on women in the country. Noul said Indonesia plans to include cervical

Noul brings AI cervical cancer screening technology to Indonesia

Sales of Galaxy Z Fold 8 increase following unveiling of Apple's 1st foldable smartphone

Domestic sales of Samsung Electronics' new Galaxy Z foldable smartphone have increased following the unveiling of Apple's first foldable smartphone, the iPhone Duo, industry sources said Thursday. Sales of the Galaxy Z Fold 8 in Korea rose about 10 percent in the week following the unveiling of the iPhone Duo from the previous week, according to the telecommunications industry. The increase is believed to have been driven in part by consumers who had delayed their purchases while waiting for Apple's new product and subsequently opted for the Galaxy Z Fold 8 instead. The iPhone Duo's price and hardware specifications are also considered factors in Korean consumers' purchasing decisions, they said. The iPhone Duo is priced at 3.29 million won ($2,380) for the 256-gigabyte model in Korea, more than 1 million won above the 2.28 million won price of the 256GB Galaxy Z Fold 8. The 2-terabyte iPhone Duo model is priced at 5.09 million won. The price gap in Korea is relatively wide compared with the United States, where the 256GB models of the two smartphones differ by about $100 in price.

Sales of Galaxy Z Fold 8 increase following unveiling of Apple's 1st foldable smartphone

Condoleezza Rice, Lee Kyung-chul receive inaugural Lee Hong-koo Diplomacy Award

Former U.S. Secretary of State Condoleezza Rice and Lee Kyung-chul, special representative for Middle East peace at the Ministry of Foreign Affairs, have been named the inaugural recipients of the Lee Hong-koo Diplomacy Award. The Seoul Forum for International Affairs (SFIA), a private diplomatic think tank, announced it has rebranded its Youngsan Diplomat Award, which recognizes individuals who have made outstanding contributions to Korean diplomacy, in honor of former Prime Minister Lee Hong-koo. Lee Hong-koo, who died in May at the age of 91, served as the founding chairman of SFIA. The awards were presented Wednesday at FKI Tower in Seoul’s Yeongdeungpo District during an event marking SFIA’s 40th anniversary. About 100 guests from Korea and abroad attended, including former U.N. Secretary-General Ban Ki-moon. Rice served as national security advisor under former U.S. President George W. Bush before becoming U.S. secretary of state from 2005 to 2009. She is now director of the Hoover Institution at Stanford University. Lee was appointed Korea's special representative for Middle Ea

Condoleezza Rice, Lee Kyung-chul receive inaugural Lee Hong-koo Diplomacy Award

Korean, US troops conduct annual explosive ordnance disposal drills

Korean and U.S. troops have conducted joint explosive ordnance disposal (EOD) drills designed to improve interoperability and strengthen cooperation among relevant agencies, the Joint Chiefs of Staff (JCS) said Thursday. The EOD drills took place at the Army's I Corps and 9th Infantry Division in Goyang, just north of Seoul, from Wednesday to Thursday, according to the JCS. Some 200 personnel, including officials from each branch of the military, the U.S. 2nd Infantry Division and the Korea Airports Corp., participated in the drills. During the drills, EOD teams trained under simulated scenarios involving explosives planted in an urban area, with Korean and U.S. troops conducting joint operations to achieve a shared objective. The troops also took part in a seminar to share information on explosives and discuss ways to improve the EOD teams' operational capabilities in peacetime and wartime. Officials said the drills were not related to recent security developments, including the reportedly ongoing review on the possible deployment of Korean troops to the Strait of Hormuz, noting they hav

Korean, US troops conduct annual explosive ordnance disposal drills

Lee faces no-win dilemma as justice minister nominee row threatens prosecution reform

President Lee Jae Myung is facing a high-stakes dilemma over his justice minister nominee: push forward with Kim Seung-won's appointment at the cost of further eroding his approval ratings or withdraw the nomination and lose momentum on his flagship prosecution reform agenda. Political insiders suggest Lee will press ahead regardless. Analysts say he is likely to frame the standoff as a defining battle for prosecutorial reform — a direct confrontation with what his camp describes as political prosecutors resistant to change. “The (ruling) Democratic Party of Korea (DPK) appears poised to push forward with the appointment, while opposition parties are expected to gauge public sentiment following President Lee’s press conference scheduled on Friday before deciding whether to launch full-fledged street protests,” Seo Yang-ho, a political commentator and former mayor of Seoul’s Jung District, was quoted saying on a TV news program. “At its core, Kim Seung-won's nomination is not simply a Cabinet appointment; it represents a fundamental clash between forces driving President Lee

Lee faces no-win dilemma as justice minister nominee row threatens prosecution reform

Assembly passes confirmation motion for Supreme Court justice nominee

The National Assembly on Thursday passed the confirmation motion for Supreme Court Justice nominee Kim Sung-soo. During a plenary session, the Assembly endorsed the confirmation motion for Kim in a 227-28 vote, with 13 abstentions. Supreme Court Chief Justice Cho Hee-dae last month recommended Kim to President Lee Jae Myung for appointment as the successor to former Supreme Court Justice Lee Heung-ku. Kim's parliamentary confirmation hearing took place Monday and rival parties adopted his confirmation hearing report Wednesday. Kim will become the first Supreme Court justice to take office since the launch of the Lee administration if the president approves his appointment.

Assembly passes confirmation motion for Supreme Court justice nominee

Korea plans abortion pill rollout as doctors, women's groups clash over access

As Korea prepares to introduce abortion pills, women’s rights groups and doctors are welcoming the move but remain divided over how broadly the drugs should be made available. Women's rights advocates are calling for wider eligibility and eased prescription rules, while doctors are urging tighter medical oversight, reflecting a broader debate over how to balance reproductive autonomy with patient safety. The government on Wednesday announced a plan to allow the use of abortion pills for pregnancies of nine weeks or less, as early as the first quarter of next year. The move follows a prolonged legislative vacuum since the Constitutional Court ruled in 2019 that the criminalization of abortion was unconstitutional. Lawmakers have remained gridlocked over the deeply divisive issue, leaving follow-up legislation on matters such as permissible gestational limits stalled for years. Amid that vacuum, abortion pills have circulated illicitly, fueling calls for their formal introduction. President Lee Jae Myung instructed officials to discuss allowing Mifegyne during a Cabinet meeting in July. M

Korea plans abortion pill rollout as doctors, women's groups clash over access

POSCO Group accelerates resource strategy as global competition shifts

POSCO Group Chairman Chang In-hwa is bringing together the group’s senior executives to map out the next phase of its three-pronged growth strategy, as geopolitical shifts and technological change reshape global competition for resources. The group’s annual POSCO Forum began Thursday and will run for two days in Incheon. The event brings together senior executives to discuss future growth and innovation while hearing from outside experts. This year’s forum will focus on turning the strategy announced in July into concrete action plans. Chang's three-part strategy centers on areas of industrial resources such as steel; strategic resources including lithium, cathode and anode materials and rare earths; and energy resources such as liquefied natural gas and renewable energy. “The ability to execute quickly is the key to survival at a time of major change, as geopolitics and technological paradigms are shifting,” Chang said. “To successfully implement the strategy and expand our businesses around resources, we need to anticipate the direction of change and find clear answers on w

POSCO Group accelerates resource strategy as global competition shifts

JB Financial partners with Upstage to develop AI solutions for finance

JB Financial Group has teamed up with Upstage, a leading artificial intelligence (AI) company, to develop AI-based tools for practical use across the financial sector as part of its broader effort to accelerate company-wide AI transformation, the group said Thursday. JB Financial Chairman Kim Ki-hong and Upstage CEO Kim Sung-hoon signed a memorandum of understanding on Monday, laying the groundwork for cooperation in financial AI technology and new business opportunities. JB Financial identified AI transformation as one of its key priorities at its executive strategy meeting in August. The partnership will bring together the financial group and its major subsidiaries, including Jeonbuk Bank, Kwangju Bank and JB Woori Capital, to create a group-wide AI collaboration network. Using Upstage’s proprietary large language model (LLM) technology, the companies will work on developing AI agents customized for banking and other financial services. The two sides also agreed to pursue a range of joint projects, including developing and testing new AI applications for finance, exchanging employees

JB Financial partners with Upstage to develop AI solutions for finance

Korean Air counts on allied shareholders to contain Hoban's influence

Korean Air is counting on its existing shareholder base to contain Hoban Group’s growing influence, as the builder continues to increase its stake in Hanjin KAL to challenge Hanjin Group Chairman Cho Won-tae's control over the aviation conglomerate. Hoban has raised its Hanjin KAL stake to 20.15 percent, just 0.42 percentage point below the 20.57 percent held by Cho and his related parties. The narrowing gap has fueled speculation that Hoban could eventually seek a greater role in the management of Korean Air, the flagship carrier controlled by Hanjin KAL. An official from the airline said the most favorable scenario for the company would be for Korea Development Bank (KDB) not to sell its stake. KDB has long held a 10.58 percent stake in Hanjin KAL. If the state-run bank continues to hold its stake, Cho’s side would retain a significantly larger bloc of friendly shares than Hoban, reducing the immediate threat to the current management’s control. Delta Air Lines, which holds a 14.9 percent stake in Hanjin KAL, is widely considered a long-term ally of Korean Air. KDB, which received

Korean Air counts on allied shareholders to contain Hoban's influence

GKL partners with traditional markets to mark Chuseok holiday

Grand Korea Leisure (GKL), the state-run operator of the foreigner-only Seven Luck casino brand, is teaming up with traditional market merchants ahead of Chuseok, Korea's harvest holiday, on a joint marketing campaign aimed at drawing foreign tourists and boosting local businesses, the company said. From Sept. 22-26, GKL will hold the "K-Traditional Market Dessert Festa" at its Seven Luck Casino Gangnam Coex branch, introducing foreign visitors to the food culture of Korea's traditional markets. About 10 stalls from the Yeongdong Traditional Market merchants association in Nonhyeon-dong, Seoul's Gangnam District, will serve visitors Korean snacks including rice cakes, sweet and crispy fried chicken, twisted doughnuts and steamed buns. The event will also give away 200 sets of hand-pressed, domestically produced sesame oil. GKL President Yoon Doo-hyun said the event aims to boost tourist satisfaction and support the local economy by giving foreign visitors to Seven Luck an unusual chance to experience Korean traditional snacks. The event follows a visit by employees from GKL's Seoul Dragon

GKL partners with traditional markets to mark Chuseok holiday

How a young Korean turned Roblox into lucrative career

SAN JOSE — "Stop playing games." Roblox game developer Gold Octopus, whose real name is Cho Young-gwang, says his parents rarely nagged him to stop playing games. While his parents were at work and often came home late, he spent his time on online games. The middle school student developed games before the platform became widely known in Korea. That childhood hobby became a profession, bringing the 20-year-old digital creator an income of more than 100 million won ($67,800). Roblox reported about 144 million daily active users in March, making it a major platform in the creator economy. Gold Octopus, an early developer on the platform, spoke with the Hankook Ilbo in an interview Friday at the Roblox Developers Conference 2026 at the San Jose McEnery Convention Center in California. He taught himself game development instead of going to college. He also taught himself Japanese and recently began collaborating with a Japanese company. The young developer built his reputation with his flagship game, Sol's RNG, winning Best Experience of the Year and Outstanding Creator of the Year at the

How a young Korean turned Roblox into lucrative career

Huawei quickens AI chip pace, promises next entrant 3 quarters early

Huawei Technologies said on Thursday that it would launch its next-generation artificial intelligence chip in the first quarter of 2027, moving the target launch forward by nine months as the firm aggressively expands its ecosystem amid China’s self-sufficiency push. David Wang Tao, rotating and acting chairman for Huawei, said on Thursday that the Ascend 960DT chip, an AI chip designed for model training, “with performance doubling”, would be “ready in the first quarter of 2027”, three quarters...

Huawei quickens AI chip pace, promises next entrant 3 quarters early

The Red Ribbon on the Earth | Seizing the Luding Bridge

Held up on the banks of the Dadu River by a lack of ferries to carry its soldiers and equipment across, the Central Red Army was under imminent threat from a vast, rapidly-approaching enemy force. To open up an alternative route across the river, the Red Army's 4th Regiment was ordered to capture the Luding Bridge, 120 kilometers away.

The Red Ribbon on the Earth | Seizing the Luding Bridge

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