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U.S. July PCE Price Index Rises 3.7% Year-Over-Year, Slightly Exceeding Expectations On August 26, the U.S. Department of Commerce reported that the Personal Consumption Expenditures (PCE) price index rose 3.7% in July compared to the same month last year. This marks a 0.2% increase from the previous month. These figures slightly surpassed the expert forecasts compiled by Dow Jones, which were each 0.1 percentage points lower. Excluding food and energy, the core PCE price index increased by 3.3% year-over-year and 0.2% month-over-month, aligning with expert expectations. The PCE price index reflects the prices of goods and services consumed by households. The Federal Reserve uses this index as a benchmark to assess its monetary policy goal of achieving a 2% inflation rate. 2026-08-26 21:56:00 -
Hamyang County Launches Health Initiatives and International Youth Exchange Hamyang County is implementing a series of community-focused policies aimed at health management, support for medically underserved areas, international youth exchange, and summer safety.Recently, the county was selected as a 'National Fitness 100 Certification Institution,' establishing a scientific basis for fitness management. It is also launching mobile medical services, expanding student exchanges with Shenyang City in China, and addressing heatwave and water safety concerns.Hamyang County was chosen in the second round of the '2026 National Fitness 100 Certification Institution' program, organized by the Korea Sports Promotion Foundation.The National Fitness 100 Certification Center is a state-certified fitness management institution that scientifically measures and evaluates residents' fitness levels, providing personalized exercise prescriptions and certification services. The county plans to establish a fitness management system that links measurement, prescription, exercise, re-measurement, and incentives.Additionally, the initiative will create four new jobs, including for young workers, and will implement a 'Mobile Fitness Certification Service' that visits towns and welfare facilities, as well as a 'Transport Service for Fitness Certification' aimed at elderly residents with mobility challenges.Pre- and post-fitness assessments will be offered to participants in local sports events, national competitions, and training camps. In the long term, the county envisions expanding this into a stay-type sports program that integrates national competitions, training camps, fitness certification, and tourism.Mobile 'Doctor Bus' in Byeonggok-myeon to Offer Free Checkups on September 1Mobile free health checkups will continue for residents in areas with limited access to medical facilities.The Hamyang County Health Center will conduct the 'Masang Medical Center Doctor Bus Free Checkup Program' on September 1 from 10 a.m. to 3:30 p.m. in the parking lot in front of the Byeonggok-myeon Health Center. Any resident wishing to receive a checkup can participate.The checkup will involve a team of 11, including professors from Gyeongsang National University Hospital and staff from Masang Medical Center, utilizing a specialized checkup bus equipped with 14 types of medical equipment. Services will include basic eye exams, hearing tests, nasal and throat examinations, tympanic membrane checks, prostate ultrasounds, and urinary disorder assessments.If any abnormalities are detected during the checkup, participants will be referred for further medical care and supported in accessing ongoing health services through the health center.22 Students from Shenyang City Visit to Enhance Future Generations' ExchangeYouth exchanges between Hamyang County and Shenyang City in China are ongoing.A group of 22 students from Shenyang City is visiting Hamyang from the 26th for two days to experience local culture and tourism resources. This visit aims to expand educational and youth exchanges between the two regions and enhance mutual understanding among future generations.The exchange group attended a welcome ceremony at the Hamyang County Office and toured local attractions, including the Hamyang Wine Valley, Gaepyeong Hanok Village, and Daebongsan Recreation Valley.Hamyang County and Shenyang City established a cooperative agreement in the education sector following a visit by a Hamyang delegation to Shenyang in 2024, and they have continued mutual visits and student exchanges since then.Heatwave and Water Safety Campaign Conducted at NongwoljeongEfforts to prevent safety accidents during the end of summer are being strengthened.On the 26th, Hamyang County held a '2026 Heatwave Prevention and Water Safety Management Campaign' at Nongwoljeong in Anui-myeon. Over 50 participants, including officials from Hamyang County, the Hamyang Education Support Office, police, fire departments, volunteer firefighters, safety officers, and water safety personnel, took part.Participants shared guidelines for responding to heatwaves and water safety rules, emphasizing the importance of wearing life jackets and conducting safety quizzes and CPR demonstrations.Following the campaign, safety equipment management, including lifebuoys, life jackets, and safety ropes, as well as the working conditions of safety personnel, emergency contact systems, and warning signs in the water play area at Nongwoljeong, were inspected.The county plans to continue promoting safety and conducting on-site inspections to prevent heatwave and water safety accidents until the end of the hot weather.* This article has been translated by AI. 2026-08-26 21:40:20
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Southern Region Industrial Electricity Rates to Drop by Up to 10% with New Pricing System Government to Lower Industrial Electricity Rates in Southern Regions The government plans to reduce industrial electricity rates in regions with high power production to encourage local investments. In the southern regions, rates will decrease by up to 18 won per kilowatt-hour, while the southern metropolitan area, which has high electricity demand, will maintain current rates. This initiative aims to distribute electricity demand and alleviate the burden of constructing long-distance transmission networks. On August 26, the Ministry of Climate, Energy, and Environment and Korea Electric Power Corporation held a public hearing at the KEPCO Southern Headquarters in Yeongdeungpo, Seoul, to unveil the design plan for the 'Regional Industrial Electricity Pricing System.' The new pricing system will introduce a 'regional adjustment fee' as part of the rate structure. Areas with greater electricity supply capacity and those requiring policy consideration will see lower rates, reflecting transmission costs, self-sufficiency rates, and balanced growth factors. According to the plan released, the country will be divided into four major regions based on electricity flow and transmission network structure. The Ministry of the Interior and Safety will combine this with a regional preference index and the status of industrial crisis areas to create a total of 11 subdivisions. Jeju will be excluded from this system due to its unique island characteristics. Revisions to Property Tax for Non-Resident Homeowners The government is revising its approach to the comprehensive real estate tax burden for non-resident homeowners, aiming to lower it from the initial tax reform proposal. After the ruling party raised concerns about differentiating tax burdens based on residency status, key elements of the reform plan are now under revision just 20 days after its announcement. As of August 26, the Ministry of Finance is considering increasing the basic deduction for non-resident homeowners from the proposed 900 million won to a higher amount. Options include maintaining the current 1.2 billion won or aligning it with the 1.4 billion won deduction for resident homeowners. The tax reform plan announced on August 3 proposed raising the basic deduction for resident homeowners from 1.2 billion won to 1.4 billion won while lowering it to 900 million won for non-resident homeowners. The intent was to focus tax benefits on those using their homes as primary residences while reducing benefits for investment properties. The fair market value ratio will increase from the current 60% to 70% for both resident and non-resident homeowners by 2028, and the cap on the tax burden will rise from 150% to 200% of the previous year's tax amount. This means non-resident homeowners will face a significant increase in their tax burden due to the combination of reduced deductions and increased fair market value ratios. Hyundai Aims for 5.55 Million Vehicle Sales by 2030 Hyundai Motor Company has unveiled its mid- to long-term strategy focused on enhancing its competitiveness in the automotive sector. Despite intensifying global competition and geopolitical threats, the company plans to pursue a segmented electrification transition while leveraging future businesses such as autonomous driving and robotics to boost profitability. On August 26, during the '2026 CEO Investor Day' held at the Conrad Hotel in Yeouido, Hyundai announced its goal to launch 100 new models by 2030, aiming for annual sales of 5.55 million vehicles. This target represents an increase of approximately 1.39 million vehicles compared to this year's goal of 4.158 million, reflecting a growth rate of 33.5%. Jose Munoz, CEO of Hyundai, stated, "Hyundai's fundamentals are stronger than ever. We will launch more models, provide more powertrain options to customers, and aggressively enter new vehicle segments and markets." The core of the mid- to long-term strategy is the transition to electrification and localization. Specifically, the company plans to adopt a two-track approach, with hybrids (HEVs) in North America and electric vehicles (EVs) in Europe. In North America, Hyundai will introduce 10 new hybrid models, starting with the GV80 HEV, aiming to increase HEV sales to 50%. A range-extended electric vehicle (EREV) version of the Santa Fe is set to launch in the first half of next year. Government Launches Regional Growth Engines in Five Areas The government has selected regional 'growth engines' in five areas and is set to begin fostering them. Each region will have 3 to 4 growth engines linked to local strengths and large corporate investments, supported by a comprehensive package of financial, fiscal, and regulatory incentives. On August 26, during the 10th Central-Local Cooperation Meeting chaired by President Lee Jae-myung at the Blue House, the Ministry of Trade, Industry, and Energy announced the 'Regional Growth Engine Development Plan Linked to Three Mega Projects.' Since September of last year, the Ministry has been collecting demand from local governments and has held over 100 consultations to select these growth engines. Feedback from more than 600 companies and regional experts was also considered in the selection process, which was based on criteria such as corporate investment, regional strengths, growth potential, and alignment with national strategies. The central region will focus on next-generation displays, semiconductors, high-value-added biopharmaceuticals, advanced batteries, and future defense and transportation systems as its growth engines. The plan aims to leverage existing advanced industrial foundations and R&D capabilities to develop the central region into a 'global hub for advanced strategic industries.' Surge in Regulatory Corrections for Capital Increases This Year This year, there has been a significant increase in regulatory corrections from financial authorities regarding capital increases by listed companies. This trend is attributed to a rise in cases where the plans for fund usage or effectiveness are unclear. As financial authorities tighten their review standards for capital increases, instances of companies retracting their plans are also on the rise. As of August 26, the Financial Supervisory Service has issued 66 correction requests for securities registration statements related to capital increases, surpassing last year's total of 43 and the 56 requests made in 2024. Specifically, among 15 listed companies that submitted securities registration statements for capital increases in the third quarter, six received 2 to 4 correction requests from the Financial Supervisory Service, while seven received one request. Only two companies did not receive any correction requests. Companies that finalized their issuance conditions this month also faced multiple corrections. Clobot submitted six corrections to its registration statement, while SensorView submitted three. Some companies, like SomeAge, went through four corrections but ultimately retracted their capital increase decision on August 5. The trend of retracting capital increase plans is also increasing compared to previous years. As of August 26, the number of retracted capital increases through corrections stands at 23, including four from KOSPI and 19 from KOSDAQ, already exceeding last year's total of 22 (three from KOSPI and 19 from KOSDAQ). 2026-08-26 21:40:00
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Floods in Nepal Leave 19 Dead, 384 Tourists Missing, Including 8 South Koreans A massive flood in north-central Nepal has left 19 people dead and approximately 384 tourists missing. The incident occurred around 9 a.m. local time on August 26 in the Bagmati Province, according to reports from Reuters, AP, and Yonhap News.Sunil Sharma, a spokesperson for the Nepal Tourism Board, stated that the missing foreign tourists hail from various countries, including India, Australia, the Netherlands, the United States, Malaysia, the United Kingdom, and South Africa.The South Korean Ministry of Foreign Affairs reported that eight South Korean employees from Korea Southeast Power and Doosan Enerbility, who were working on a hydropower project in the Rasuwagadhi area, have lost contact. Additionally, ten other South Koreans from Doosan Enerbility are stranded in the area awaiting rescue, prompting the Nepalese government to deploy helicopters to the site.Rajendra Prasad Dhimal, a spokesperson for the Bagmati Province police, expressed concern to EFE news agency that the confirmed death toll may rise.The affected area is located about 120 kilometers north of the capital, Kathmandu, near the border with the Tibet Autonomous Region of China. The Bote Kosi River in the Rasuwagadhi area overflowed, inundating several nearby villages and damaging roads and hydropower facilities.The Rasuwagadhi area, which has experienced significant flooding, faced a similar incident in August of the previous year, when a sudden flood caused by high temperatures in the mountainous region led to the overflow of a glacial lake in Tibet, resulting in nine fatalities and damage to key infrastructure, including bridges connecting the two countries.Climate experts from the International Centre for Integrated Mountain Development (ICIMOD), based in Kathmandu, indicated that the recent flooding was likely caused by an avalanche originating from a glacier. One expert noted that the Rende Kola River, a tributary of the Bote Kosi, reached its highest level on that day. 2026-08-26 21:24:10
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Doosan and Namdong Power Respond to Missing Workers in Nepal Floods In Nepal, a flood has left several South Korean workers, who were constructing a hydroelectric power plant, unreachable or isolated, prompting their companies to take swift action to assess the situation and implement countermeasures.According to Yonhap News Agency, Doosan Enerbility established an emergency response headquarters on the afternoon of August 26 to quickly assess the situation and manage the incident. A field response team, including CEO Jeong Yeon-in, is scheduled to be dispatched to the site on August 27.There are a total of 20 South Korean employees at the Upper Trishuli-1 hydroelectric power plant construction site, which is being managed by Doosan Enerbility. Of the 15 workers present at the site during the disaster, five are currently unreachable.The Upper Trishuli-1 hydroelectric power plant is being constructed on the Trishuli River, located 70 kilometers north of Kathmandu, with a capacity of 216 megawatts. Doosan Enerbility is responsible for the construction of the plant as well as the manufacturing and supply of key equipment such as turbines and generators.Namdong Power, which has also lost contact with three employees on site, is also responding urgently. According to Namdong Power, three of the seven employees dispatched to the area, excluding those at the local office in Kathmandu, are unreachable.Meanwhile, the Nepalese government has dispatched rescue teams composed of army and police personnel to conduct search and rescue operations. The South Korean Embassy in Nepal notified the Nepalese government of the eight missing South Koreans immediately after learning of the incident, requesting prompt and active search and rescue efforts, and has sent a consular officer to the site.* This article has been translated by AI. 2026-08-26 21:00:10
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Doosan and Namdong Power Establish Emergency Response Amid Nepal Floods Nepal's recent floods have left a South Korean worker, involved in the construction of a hydroelectric power plant, unreachable or isolated, prompting the companies involved to swiftly assess the situation and formulate a response. According to Yonhap News Agency on August 26, Doosan Enerbility established an emergency response headquarters that afternoon to quickly assess the situation and manage the incident. A field response team, including CEO Jeong Yeon-in, is set to be dispatched to the site on August 27. There are a total of 20 South Korean employees at the Upper Trishuli-1 hydroelectric power plant construction site, where Doosan Enerbility is handling engineering, procurement, and construction (EPC). Of the 15 workers present at the site during the disaster, five are currently uncontactable. The Upper Trishuli-1 hydroelectric power plant, located 70 kilometers north of Kathmandu along the Trishuli River, is being built with a capacity of 216 megawatts. Doosan Enerbility is responsible for the construction of the plant and the manufacturing and supply of key equipment such as turbines and generators. Namdong Power, which has three employees uncontactable at the site, is also responding urgently. According to Namdong Power, of the seven employees dispatched to the area, three construction management personnel, excluding those at the local office in Kathmandu, are unreachable. Meanwhile, the Nepalese government has dispatched rescue teams composed of army and police personnel to conduct search and rescue operations. The South Korean Embassy in Nepal notified the Nepalese government of the eight South Koreans who are unreachable shortly after learning of the incident, requesting prompt and active search and rescue efforts, and has sent a consular officer to the site.* This article has been translated by AI. 2026-08-26 21:00:00
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Floods in Nepal Leave 9 Dead, 384 Tourists Missing; 8 South Koreans Unreachable A massive flood in the central northern region of Nepal has resulted in the deaths of nine people, with approximately 384 tourists, including 291 foreigners, reported missing. Eight South Koreans have also lost contact, while another ten South Koreans are stranded in the area.According to reports from Reuters and Yonhap News on August 26, the flooding in the Bagmati Province was triggered by heavy rainfall. The Nepal Tourism Board confirmed the fatalities and the number of missing tourists.The affected area is located about 120 kilometers north of the capital, Kathmandu, near the border with the Tibet Autonomous Region of China.The South Korean Ministry of Foreign Affairs reported that eight employees from Korea Southeast Power and Doosan Enerbility, who were working on a hydropower project in the Rasuwagadhi area of Bagmati Province, have lost contact. Additionally, ten other South Koreans affiliated with Doosan Enerbility are stranded and awaiting rescue, prompting the Nepalese government to deploy helicopters to the disaster site. 2026-08-26 20:32:00
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Eight South Koreans Missing After Floods in Nepal Flooding in Nepal has left eight South Koreans unaccounted for.According to the Ministry of Foreign Affairs and Yonhap News Agency, the individuals, who are employees of Korea Southeast Power and Doosan Enerbility, lost contact on August 26 due to floods in the Rasuwagadhi area, where a hydroelectric power plant is under construction.The Nepalese government has dispatched rescue teams, including army and police personnel, to the affected areas to conduct search and rescue operations.Additionally, ten other South Koreans affiliated with Doosan Enerbility are stranded in the region and awaiting rescue, with the Nepalese government sending helicopters to assist them.The South Korean Embassy in Nepal promptly informed the Nepalese government about the missing individuals and requested swift and proactive search and rescue efforts. A consular official has been dispatched to the scene.The government has established a task force for the protection of overseas citizens, led by the Minister of Foreign Affairs, and plans to send a joint rapid response team composed of officials from the Ministry of Foreign Affairs, the National Fire Agency, and the National Police Agency to the area as soon as possible, following directives from President Lee Jae-myung to ensure public safety. 2026-08-26 19:32:00
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Police to Review 310,000 Closed Missing Persons Cases Following False Closure Incident The police will review approximately 310,000 missing persons cases that were closed in the past three years, following a false closure incident in Jeju. The review is expected to be completed by November. According to a report by Yonhap News on August 26, the National Police Agency has developed a "missing persons investigation team reform plan." This plan categorizes cases that are likely to have been falsely closed, particularly those closed without direct contact with the missing persons, to reassess the safety of the individuals and the appropriateness of the case handling. If any cases are found to have been inadequately or improperly handled during the review, immediate re-investigations will be initiated, and the findings will be reported to the provincial police agencies. These agencies will also conduct weekly checks on closed cases from their respective police stations and will order re-investigations if necessary. To prevent a recurrence of the issue where a police officer in Jeju closed a case without verifying the safety of missing individuals like Jang Mi-ran, the procedures for closing missing persons cases will be strengthened. The police will generally prohibit the practice of closing cases based solely on non-face-to-face verification methods, such as phone calls. In cases where the missing person is located far away and direct contact is difficult, the police station responsible for the area where the individual is believed to be will conduct the safety verification in person and notify the responsible department. A new approval process for case closures will also be introduced, requiring the head of the criminal division to review objective data, including whether the missing person was met in person, the verification of their identity, and confirmation of their safety before approving the case closure. The police plan to add this managerial approval function to their system next month and will manage closed cases through manual records until the system development is complete. They are also considering implementing an automatic notification feature to inform reporters at each stage of case reception, progress, and closure. Additionally, to enhance routine checks, daily meetings will be held under the supervision of police chiefs to review all missing person reports received the previous day. Police chiefs and criminal division heads will directly assess the appropriateness of case closures based on whether the missing person was met in person, reasons for non-face-to-face processing, and other methods used to confirm safety. The police will also revise their missing persons investigation personnel and work systems. Currently, 111 out of 148 dedicated missing persons teams (75.0%) have only one officer on duty at night, raising concerns about inadequate responses during peak reporting times. The police will analyze missing persons investigation personnel and establish a system where at least two officers are on duty during nights and holidays, while also adjusting the distribution of personnel in the violent crime and criminal investigation teams. Future improvements will be based on the findings from the comprehensive review and inspections. 2026-08-26 19:16:10
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Dairy Industry Faces Crisis as Per Capita Milk Consumption Drops 2.4 kg in a Year As declining birth rates and changing dietary habits exacerbate the drop in white milk consumption, negotiations between dairy farmers and the dairy industry over the reduction of drinking milk quotas for next year are facing significant challenges. Both sides agree on the need for a reduction, but they have been unable to narrow their differences regarding the standard quantity, leading to ongoing discussions as the end of the month deadline approaches.According to the Dairy Promotion Association on August 26, a subcommittee involving producers and the dairy industry is currently negotiating adjustments to the milk quotas for different uses for 2027-2028. The negotiations, which began on June 30, were initially expected to conclude by the end of July, but have been extended to the end of this month due to a lack of agreement.The crux of the negotiations is determining how much to reduce the drinking milk quota. Under the differentiated pricing system, raw milk is categorized into drinking milk and processed milk, which includes cheese and powdered milk. The current standard drinking milk quota is set at 1.941 million tons annually. While both the dairy industry and farmers agree on the need to reduce this quota, they differ on the baseline quantity for calculating the reduction.The dairy industry argues that the reduction should be based on the current standard of 1.941 million tons. In contrast, farmers contend that the baseline should reflect the actual purchases made by dairy companies last year, which amounted to approximately 1.89 million tons. This creates a discrepancy of about 50,000 tons between the standard quota and actual purchases.Applying the proposed reduction rates discussed by both sides would widen this gap even further. If the excess milk produced (1.797 million tons) is excluded, and the excess reduction rate (10-30%) is applied, the dairy industry’s proposed baseline would require a reduction of approximately 14,400 to 43,200 tons. Under the farmers' proposed baseline, the reduction would be lowered to about 9,300 to 27,900 tons. Depending on the reduction rate, the difference in the quantities each side advocates could reach as much as 15,300 tons.The need for a reduction has become more pressing due to the prolonged decline in white milk consumption. According to the Dairy Promotion Association, per capita consumption of white milk in the country fell to 22.9 kg last year, down 2.4 kg from 25.3 kg the previous year. Compared to 27 kg in 2016, this marks a decrease of 4.1 kg over the past decade. The decline is attributed to a shrinking consumer base of infants and school-age children due to low birth rates, coupled with changing dietary habits.The dairy industry argues that the mandatory purchase quotas for drinking milk should be adjusted to reflect the actual decrease in consumption. Purchasing more raw milk than the demand necessitates converting the excess into powdered milk, which incurs losses and inventory burdens. Additionally, the increasing market penetration of lower-priced imported sterilized milk and dairy products adds to the industry's challenges.Farmers, however, maintain a different stance. They argue that with actual purchases already about 50,000 tons below the standard quota, further reductions based on the 1.941 million tons would be excessive. They point out that the price for drinking milk is 1,084 won per liter, higher than the price for processed milk at 882 won. As the drinking milk quota decreases significantly, the income farmers receive for raw milk is also expected to decline. There are concerns that drastic reductions could further weaken the domestic raw milk production base amid rising production costs and a decreasing number of dairy farmers.In the previous negotiations, the drinking milk quota was already reduced once. In the 2024 negotiations, the drinking milk quota for 2025-2026 was cut from 1.95 million tons to 1.941 million tons, a reduction of 9,000 tons, while the processed milk quota was increased from 100,000 tons to 109,000 tons, an increase of 9,000 tons.This time, the ongoing decline in white milk consumption has heightened the need for additional reductions, but the conflicting interests surrounding the reduction criteria have prolonged the negotiations. If the subcommittee reaches an agreement by the end of this month, the proposal will be submitted for approval by the Dairy Promotion Association's board, with new quotas expected to take effect in January.* This article has been translated by AI. 2026-08-26 19:12:00