Financial Authorities Revise Penalty System for Data Breaches The financial authorities are revising the penalty assessment system for violations such as hacking, customer data breaches, and the improper provision and use of credit information. Currently, penalties are capped at 3% of total revenue, but the authorities believe that the existing three-tiered penalty rates of 50%, 75%, and 100% do not adequately reflect the severity of violations.On September 16, the Financial Services Commission held a meeting of the 'Task Force for Improving Penalty Assess September 16, 2026

Toxic Substances Found in 9 Sensory Toys, Two Products Recalled The government has reported that nine out of 76 sensory toys, including popular items like 'Malang-i' and squishies, failed to meet safety standards due to the presence of harmful substances. Among these, two slime products that received KC certification were found to contain banned preservatives, prompting a recall order.The National Institute of Technology and Standards under the Ministry of Trade, Industry and Energy announced that harmful substances exceeding safety limits were detected in n September 16, 2026

Heat Pump System Tested in Jeju for Heating, Cooling, and Hot Water "The current hot water temperature is about 46.5 degrees Celsius," said a Samsung Electronics representative, pointing to a control panel installed on the wall in the basement of a single-family home in Jeju's Donam-dong on September 14. The panel displayed the flow and temperature of water circulating in the house, as well as the air conditioning status. Nearby were a 200-liter hot water tank and a thermal storage tank, with insulated pipes running along the ceiling and walls.One outdoor heat p September 16, 2026

Agriculture Ministry to Enhance Winter Animal Disease Prevention Measures Starting in October The Ministry of Agriculture, Food and Rural Affairs is ramping up measures to combat the risk of winter animal diseases, including highly pathogenic avian influenza (AI), foot-and-mouth disease (FMD), and African swine fever (ASF). In light of increasing outbreaks abroad, the emergence of new FMD virus types, and the potential for ASF transmission through wild boars and feed, the ministry will focus on managing high-risk areas and farms while ensuring rapid response in case of outbreaks.On Septe September 16, 2026

Hong Ji-sun Pledges to Expand Housing Supply with Public and Private Resources Hong Ji-sun, the nominee for Minister of Land, Infrastructure and Transport, expressed her commitment to expanding housing supply in areas desired by citizens by mobilizing both public and private resources. She aims to enhance the execution of housing supply policies by addressing on-site challenges such as permitting, drawing on her experience working in local government.During her opening remarks at the National Assembly confirmation hearing on the 16th, Hong stated her goal of achieving hous September 16, 2026

Long-Distance Travel with Electric Vehicles: EV Financing Promotions Ahead of Chuseok As the Chuseok holiday approaches, demand for long-distance travel is expected to rise, increasing interest in electric vehicles (EVs). Previously, EVs were primarily seen as suitable for short urban trips, but improvements in driving range and charging performance have expanded their viability for longer journeys, such as returning home or traveling.Hyundai Motor and Kia are enhancing battery capacity and driving efficiency based on their dedicated electric vehicle platform, E-GMP, while also e September 16, 2026

U.S. Clarity Act Fails, Hectofinancial Shares Drop 15% The failure of the Clarity Act, aimed at establishing a regulatory framework for virtual assets, has led to a significant drop in shares of fintech company Hectofinancial.As of 10:52 a.m. on September 16, Hectofinancial's stock was trading at 18,650 won, down 3,340 won (15.18%) from the previous trading day, according to the Korea Exchange. Other companies in the sector, including KakaoPay (-11.37%), Danal (-10.9%), and NHN (-4.15%), also experienced declines.The sharp drop in cryptocurrency-rel September 16, 2026

Kang Shin-cheol Aims to Build a Winning South Korean Military Kang Shin-cheol, the nominee for Minister of National Defense, stated on September 16 that he aims to create a "winning South Korean military," asserting that victory will become the strategy and policy of national defense. During his opening remarks at the confirmation hearing held by the National Assembly's Defense Committee, Kang emphasized the need to establish a defense posture led by the military across all domains, while also strengthening the combined defense posture under the solid trus September 16, 2026

Ansan Mayor Lee Min-keun Engages with Residents to Address Local Issues On September 15, Ansan Mayor Lee Min-keun accompanied residents of Ildong to address local inconveniences. As part of the upcoming budget preparation, the mayor shared local issues with residents under the theme 'Incorporating Citizens' Dreams into the Budget' and discussed ways to improve daily inconveniences. By directly observing the residents' daily challenges, Mayor Lee demonstrated his commitment to finding solutions on-site. About 70 people attended the meeting, including Mayor Lee, relev September 16, 2026

BABYMONSTER Sells Out Two Concerts in Macau, Drawing 18,000 Fans The group BABYMONSTER has sold out both performances of their second world tour in Macau.BABYMONSTER held their '2026-27 BABYMONSTER World Tour CHOOM' at The Venetian Arena in Macau on September 11 and 12, captivating over 18,000 local fans.This concert marked BABYMONSTER's first solo performance in Macau since their debut, generating significant buzz ahead of the event. Thanks to the explosive response from local fans, additional tickets were quickly sold out, showcasing their strong global tic September 16, 2026