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SH to Partially Relocate Headquarters in Jungnang-gu, Construction Planned for 2027 The Seoul Housing and Communities Corporation (SH) is moving forward with a long-delayed plan to partially relocate its headquarters in Jungnang-gu, Shinnae-dong. Instead of relocating all employees and departments, the plan now involves maintaining some functions at the current headquarters in Gangnam's Gaepo-dong. This shift is attributed to concerns over project viability and financial burdens. Internally, SH is reportedly aiming to begin construction in the second half of 2027.According to SH, a feasibility study has been commissioned from the Korea Local Administration Research Institute's Local Investment Project Management Center, with completion expected by the end of this month.Following this, the project will undergo a series of approvals, including reviews by the internal investment review committee, board of directors, and city council. The timeline is being evaluated with a goal of starting construction in the latter half of 2027.Discussions about relocating SH's headquarters began during the tenure of former Seoul Mayor Park Won-soon from 2018 to 2019 as part of a balanced development policy between Gangnam and northern Seoul. The project was seen as a key initiative for urban development in Jungnang-gu and balanced growth in the northeastern region. In 2020, a tripartite agreement was signed between the Seoul Metropolitan Government, Jungnang-gu, and SH, marking the project's official launch, followed by a feasibility study by the Korea Local Government Evaluation Institute in 2021.However, the project stalled for several years due to issues related to its viability and financial burdens. Industry experts cite the competitive location of the Gaepo-dong headquarters, the high costs of a large-scale relocation, and concerns about the public benefits of the new headquarters as contributing factors.An SH official stated, “The full relocation plan did not yield sufficient viability, leading us to explore various options, ultimately settling on a partial relocation approach. If the feasibility study results are positive, we plan to proceed with the project as planned.”Initially, the principle was to relocate all employees and departments to Jungnang-gu, but opposition from labor unions and concerns over project viability prompted a change in direction. The current plan is to maintain some functions at the Gaepo-dong headquarters while relocating key departments and personnel to the new headquarters in Jungnang-gu. The specific distribution of departments and the scale of personnel movement will be determined after gathering feedback from internal stakeholders.The funding approach has also changed. The project structure has shifted from SH's own project model to a REITs investment model. The new headquarters will be developed as a mixed-use project, including office facilities, a performance venue (public contribution), as well as residential and commercial spaces. This change was made because relocating only public offices did not sufficiently secure project viability, prompting a shift to a mixed-use development model that combines housing and commercial facilities. This decision was reportedly made after consultations among the Seoul Metropolitan Government, Jungnang-gu, local lawmakers, and SH.SH's labor union continues to oppose the headquarters relocation, citing concerns over financial stability, changes in working conditions for affected employees, and accessibility issues for citizens. There are ongoing internal concerns about reduced public transport access and decreased work efficiency compared to the Gaepo-dong location.SH stated, “The issue of relocating the headquarters involves changes in employment relationships and working conditions, so we plan to continue discussions with the union.”* This article has been translated by AI. 2026-10-24 08:16:10
Kim Jong Un Leads Major Military Event Amid Death Rumors, Promises Stronger Armed Forces Kim Jong Un, the Chairman of North Korea's State Affairs Commission, has directly overseen a large-scale military event, emphasizing the establishment of internal discipline and the enhancement of combat capabilities. Amid recent rumors of his death circulating on foreign social media, he continues to make public appearances to demonstrate his vitality.According to the Korean Central News Agency, Kim led the Third Company Commanders' Conference of the Korean People's Army held in Pyongyang from October 22 to 23.In a speech themed 'Building a Strong Army in the New Era and the Duties of Company Commanders,' Kim outlined tasks aimed at strengthening the combat power and military capabilities of the companies.He stated, "The overall direction for strengthening companies is to revamp their combat power and appearance to match the status and prestige of an elite revolutionary armed force," stressing that all companies in the military must be ideologically pure and militarily elite.Kim further noted, "The fundamental spirit of the Third Company Commanders' Conference is to cultivate the strongest companies to build the strongest army and accelerate our style of military revolution."He specifically instructed company commanders to ensure the ideological elite status of their companies and to continuously improve management and soldier life under strict military discipline. This reflects a commitment to strengthening ideological training and military discipline centered around the company, the basic combat unit of the military.This event is particularly noteworthy given the recent spread of rumors regarding Kim's death. North Korea publicly showcased Kim's visit to an exhibition in the light industry sector on October 20, followed by reports of him leading this large military event.The National Intelligence Service reported to the National Assembly's Intelligence Committee on October 23 that the rumors of Kim's death are false.The conference was attended by senior military officials, including Park Jong-cheon, Vice Chairman of the Workers' Party Central Military Commission, Defense Minister Kim Song-ki, First Deputy Director of the General Political Bureau Yu Kwang-u, and Chief of the General Staff Ri Yong-gil, along with company commanders and commanders of various military agencies.The agency assessed that this conference served as an opportunity to develop companies into "multi-functional units capable of independently and successfully carrying out any combat mission."Following Kim's speech, Defense Minister Kim Song-ki presented a report, and there were screenings of videos featuring the practical experiences of company commanders, along with a ceremony to award exemplary company commanders with party and state honors.Previous Company Commanders' Conferences were held in November 1991 and February 1999. Additionally, a fifth conference targeting company commanders and political instructors was held in March 2019, indicating that such events are relatively frequent.* This article has been translated by AI. 2026-10-24 08:16:00
Weekly Stock Market Outlook: Focus on Semiconductor Earnings and Shareholder Returns Next week, the domestic stock market is expected to seek direction based on the earnings reports from Samsung Electronics and SK Hynix, as well as any announcements regarding additional shareholder returns. Recently, the KOSPI has experienced a sharp decline due to concerns over the profitability of AI investments and foreign selling pressure. However, analysts believe that if improvements in earnings and shareholder returns are confirmed, the supply-demand imbalance could be alleviated.According to the financial investment industry on October 23, NH Investment & Securities projected the KOSPI to range between 5,100 and 6,400 points next week. Factors contributing to potential gains include third-quarter earnings and shareholder return plans from major companies, while geopolitical risks are cited as potential downward pressures.The most anticipated events are the earnings announcements from SK Hynix on October 28 and Samsung Electronics on October 29. There is particular interest in whether additional share buybacks and shareholder return plans will be disclosed alongside the earnings reports. Given the recent decline in the KOSPI, there has been a lack of buyers to absorb the foreign selling, making shareholder returns from major semiconductor firms a potential catalyst for improving supply-demand dynamics.Na Jeong-hwan, a researcher at NH Investment & Securities, noted that the recent decline in the stock market is attributed to a lack of buyers to absorb foreign selling rather than a deterioration of fundamentals. He estimated that SK Hynix's additional shareholder return resources exceed 30 trillion won, stating, "If a large-scale share buyback is confirmed, buying interest from other corporations could absorb some of the foreign selling, thereby alleviating the supply-demand imbalance in the KOSPI."The recovery of investor sentiment regarding AI investments is also a key variable. Earnings from SpaceX and Supermicro have confirmed the growing demand for AI computing and robust data center investments. Conversely, Meta's transition to negative free cash flow and Tesla's adjustments to its investment plans have raised concerns about whether profitability can keep pace with the scale of AI investments. Analysts suggest that confidence in the sustainability and profitability of AI investments must be established through upcoming earnings from major tech firms to ease market anxieties.Lee Kyung-min, a researcher at Daishin Securities, believes that despite the recent market adjustments, there is potential for normalization in KOSPI valuations. He analyzed that the recent sharp decline is a result of macroeconomic pressures and overlapping concerns about AI credit and profitability rather than a deterioration of fundamentals. He emphasized that next week’s major tech earnings will be crucial in reinforcing confidence in the sustainability and profitability of AI investments.U.S. monetary policy and international oil prices are also expected to influence market direction. The Federal Open Market Committee (FOMC) meeting is scheduled for October 29, with the market closely watching not only the decision on interest rates but also the future trajectory of monetary policy. Continued inflationary pressures due to high oil prices could hinder a market rebound if the Federal Reserve strengthens its tightening stance. Additionally, ongoing geopolitical instability in the Middle East could keep international oil prices elevated, potentially weighing on investor sentiment.Ultimately, next week’s stock market will be influenced by both individual corporate factors, such as semiconductor earnings and shareholder returns, and macroeconomic variables like interest rates and oil prices. If improvements in earnings are confirmed and additional shareholder returns can absorb foreign selling, the supply-demand imbalance may ease. However, ongoing doubts about AI investment profitability and geopolitical uncertainties could continue to drive volatility.* This article has been translated by AI. 2026-10-24 08:04:00
Woori Bank Supports 10 Social Enterprises with 130 Million Won Woori Bank announced on October 24 that it has provided a total of 130 million won to 10 social economy enterprises through the '2025 Woori Impact Challenge' program, which it launched in collaboration with the Korea Social Enterprise Promotion Agency. On October 22, Woori Bank held a performance sharing event at the Korea YMCA to discuss the achievements of the participating companies and future collaboration plans. The Woori Impact Challenge aims to identify social economy enterprises that provide jobs and services to vulnerable groups, supporting solutions to community issues and the creation of social value. Last December, Woori Bank selected 10 social economy enterprises in sectors such as agriculture, food, care, environment, and employment for people with disabilities, providing up to 20 million won in funding per company. As a result of this initiative, the total number of employees at the 10 participating companies increased by six, including new hires from vulnerable groups. Woori Bank plans to share business achievements and operational know-how among the participating companies and expand collaboration opportunities. A Woori Bank official stated, "We will continue to support social economy enterprises that lead the way in assisting vulnerable groups and solving social issues, ensuring their stable growth."* This article has been translated by AI. 2026-10-24 08:04:00
Haruki Murakami's New Book 'Kaho' Tops Bestseller List Haruki Murakami's new book has debuted at number one on the comprehensive bestseller list following its official release. As works by this year's Nobel Prize in Literature winner Anne Carson remain popular, sales of investment and economics books are also increasing as the year comes to a close. According to Yes24 on October 24, reached the top of the comprehensive bestseller list for the third week of October. The book, which began pre-sales on September 29, saw a surge in sales after its official release on October 21. Sales on the release day increased by 47.6% compared to the previous day. The primary purchasing demographic for Murakami's new work was readers in their 40s. Among buyers on the release day, 22.5% were women in their 40s, followed by 16.9% who were men in the same age group. The book received a balanced response across age groups, with 23.8% of buyers in their 50s and 19.4% in their 30s. At Kyobo Bookstore, , written by Kim Nando, an honorary professor at Seoul National University, has maintained its position at number one for three consecutive weeks. It ranked fifth on Yes24. Anne Carson's , this year's Nobel Prize winner, rose to second place at Kyobo Bookstore following a restock and ranked third on Yes24. Another work by Carson, , debuted at eighth place in foreign fiction at Kyobo Bookstore. Popular series and notable new releases are also performing well. Eiichiro Oda's reached second place on Yes24 just a week after starting pre-sales on October 15, with 53.6% of buyers being men in their 30s and 40s. YouTuber Jin Sol-mi's first book ranked fourth on Yes24, with 69.8% of buyers being women in their 30s and 40s. As the year-end approaches, sales of investment and economics books have noticeably increased. Yes24 reported that sales of André Kostolany's 'Love Money Hot, Handle It Cold' surged by 142.7% from the previous week, placing it at number 11. Howard Marks' 'The Most Important Thing' saw a 194.9% increase in sales, ranking 16th. Park Jong-hoon's 'Fake Money, Real Wealth' secured the 12th spot on Yes24 and fourth at Kyobo Bookstore. * This article has been translated by AI. 2026-10-24 07:12:00
Trump Hints at Additional Military Action Against Iran President Donald Trump has suggested the possibility of further military operations against Iran. He warned that airstrikes could resume if an agreement with Iran is not reached and indicated plans to apply pressure on Cuba after addressing the situation with Iran.According to Yonhap News, during a campaign rally in Fort Myers, Florida, on October 23, Trump stated, "We might conduct another small 'Great Wrath' operation. Or they (Iran) might negotiate." He added, "If they are smart, they will say, 'Let’s negotiate seriously now.'" The 'Great Wrath' refers to the U.S. military operations against Iran that began in February.Trump emphasized his commitment to preventing Iran from developing nuclear weapons, claiming, "Iran is finished. Iran is finished. We have defeated them militarily, financially, and in other ways." He assured, "I guarantee that Iran will never have nuclear weapons." These remarks are interpreted as a warning that additional military action could occur if negotiations with Iran do not progress. Although Trump has pledged not to attack Iran before the upcoming midterm elections, U.S. media speculate about the possibility of resuming military operations afterward.Trump also reiterated claims that the end of the Iran and Russia-Ukraine conflicts is near. After repeating his assertion that he has resolved eight wars or conflicts worldwide, he stated, "We are getting close to ending (other wars)," mentioning the Russia-Ukraine war. He then added, "Another one is Iran." Trump outlined his intention to pressure Cuba after addressing the Iran issue, saying, "On my way back from Iran, I will deal with Cuba," and mentioned plans to position U.S. warships near the Cuban coast.He remarked, "Those beautiful ships will pass by Cuba," and stated, "I will dock one about 50 yards from the shore. Then they (Cuba) will raise their hands and surrender," adding, "After that, I will send Secretary of State Marco Rubio to finish the job." Rubio is of Cuban descent.Trump has previously indicated plans to pressure Cuba after Iran. However, he has suggested that the long-standing U.S. sanctions could lead to the collapse of the Cuban regime without the need for military operations.During the rally, Trump also launched harsh criticisms against Democratic candidates, labeling them as 'Marxist lunatics' and 'extreme anti-American radicals' as he ramped up his attacks ahead of the midterm elections.* This article has been translated by AI. 2026-10-24 06:28:00
Gangnam Small Apartments See Record Prices Amid Falling Home Values in Seoul Apartment prices in Seoul's Gangnam area, which includes Gangnam, Seocho, and Songpa districts, are on a downward trend, yet some small apartments are still achieving record sales. In the rental market, the proportion of monthly rent transactions has surpassed half for the first time, while the outlook for housing projects in the metropolitan area has improved. However, actual housing construction and new contracts have decreased, indicating a gap between market recovery expectations and supply realities.According to the Ministry of Land, Infrastructure and Transport's real transaction disclosure system, a 51-square-meter apartment in the Samik Daechung Apartment in Gaepo-dong, Gangnam, was sold for 2.1 billion won on October 6, setting a new record. This price is 500 million won higher than the previous peak of 1.6 billion won for the same size in 2022. Another 51-square-meter unit in the Gangnam Jagok Hillstate in Jagok-dong sold for 1.385 billion won on October 15, also marking a new high.Despite the overall decline in apartment prices in Gangnam, some small units are still being sold at high prices. Analysts suggest that concerns over tax burdens on high-priced homes and lending restrictions are prompting buyers to opt for smaller properties while still wanting to enjoy the amenities of the Gangnam area.The average transaction price for small and micro-sized apartments has also risen. Data from the Ministry of Land, Infrastructure and Transport shows that the average transaction price for micro-sized apartments (40 square meters or less) in the Gangnam area increased by 36.1%, from 661 million won in August to 899.5 million won in September.Monthly Rent Transactions in Seoul Surpass 50% for the First Time, Average Rent at 1.66 Million WonThe trend of monthly rent transactions surpassing jeonse (long-term lease) is becoming more pronounced in Seoul's rental market.According to data from the Seoul Real Estate Information Plaza, from January to September this year, monthly rent transactions accounted for 51.0% of the total rental transactions (177,027 cases), with 87,740 monthly rent transactions compared to 84,287 jeonse transactions, which is 3,453 fewer.In the same period last year, monthly rent transactions totaled 93,010, while jeonse transactions were 116,272, giving monthly rent a share of 43.7%. This marks a 7.3 percentage point increase in the share of monthly rent over the past year. The significant decrease in jeonse transactions has expanded the proportion of monthly rent in overall rental transactions.If the current trend continues, the annual share of monthly rent transactions could exceed 50% for the first time this year. Since the statistics began being compiled in 2011, the annual share of monthly rent has never surpassed half. Last year, it reached a record high of 44.5%.Housing Market Outlook in the Metropolitan Area Turns Optimistic After Three Months, Outlook Index at 100.2Monthly rent prices are also on the rise. According to the Korea Real Estate Agency's nationwide housing price trend survey, the average monthly rent for apartments in Seoul was 1.661 million won in September, up 218,000 won from 1.443 million won in the same month last year. The median monthly rent also increased from 1.2 million won to 1.4 million won during the same period.Housing developers' outlook has improved. The continued rise in housing prices in the outskirts of Seoul and Gyeonggi Province has led to expectations of better business conditions.On October 20, a survey conducted by the Korea Housing Industry Institute among housing developers revealed that the national housing business outlook index for October rose by 6.5 points to 86.4 from the previous month’s 79.9.The housing business outlook index quantifies the sentiment of housing developers regarding market conditions. A score below the baseline of 100 indicates that more developers expect the market to worsen than improve.Notably, the outlook index for the metropolitan area rose by 11.0 points to 100.2, surpassing the baseline for the first time in three months. The metropolitan index had fallen below the baseline for two consecutive months, recording 101.6 in July, then dropping to 86.1 in August and 89.2 in September.Improved Outlook Contrasts with Declining Housing Construction and New ContractsHowever, actual housing construction and new contracts have shown a downward trend, presenting a contrasting picture to the improved outlook.According to the Korea Construction Industry Institute on October 19, total construction output in August increased by 7.4% compared to the same month last year, but residential construction output decreased by 2.7%. Construction output refers to the actual performance of ongoing projects. Despite an increase in overall construction output, the housing sector continues to decline.New contracts, which indicate future construction volume, have also been sluggish. In August, public housing contracts fell by 26.8% year-on-year, while private housing contracts decreased by 1.5%. This contrasts with a 5.9% increase in overall public contracts.While housing developers are optimistic about market recovery, both ongoing housing projects and new contracts are declining. With rising construction costs and the government lowering its projections for housing starts in the metropolitan area this year, concerns are growing that the sluggish housing construction could hinder future supply expansion.* This article has been translated by AI. 2026-10-24 06:04:00
Test Drive: The Efficient and Powerful Porter II LPG The Hyundai Porter II LPG, a one-ton truck, holds a unique position in the market, which has shifted towards electric and LPG vehicles. Combining the strong performance typical of diesel trucks with the quiet operation characteristic of LPG vehicles, it remains popular among small business owners who drive long hours due to its relatively low fuel costs and maneuverability.Recently, I drove the Porter II LPG for about 100 kilometers around Seoul to assess its performance. Upon pressing the start button, the engine operated quietly, producing a smooth vibration far removed from the rough sounds associated with older diesel models.Initially, the high driving position felt unusual, but I adapted quickly. Unlike my past experiences with manual transmissions, the Porter II features an automatic transmission, making driving easier. I simply placed the gear lever in 'D' and gently pressed the accelerator as I exited the parking lot, feeling the vehicle respond powerfully.On the road, the driving performance was impressive. Accelerating in the city, the vehicle picked up speed effortlessly. Even while waiting at traffic signals, the engine vibrations were minimal, contributing to a comfortable driving experience.Once on the internal circulation road, the vehicle showed no signs of lacking power. While there is a common perception that LPG vehicles have lower output than diesel, the Porter II LPG seems to have addressed this issue significantly. This improvement is attributed to the newly installed LPG direct injection (T-LPDi) engine, which boasts a 2.5-liter turbo engine with a maximum output of 159 horsepower and a peak torque of 30.0 kgf·m. This represents an approximately 18% increase in output compared to the previous diesel automatic transmission model.During highway driving, the fuel efficiency displayed on the dashboard ranged from 7.9 km/l to 8.3 km/l, which is about 28% higher than the certified combined fuel efficiency of the Porter II LPG automatic transmission model (6.5 km/l). It demonstrated commendable fuel efficiency even in relatively cool weather.The primary advantage of the LPG truck, aimed at everyday drivers such as delivery personnel, is its economy. According to the Korea LPG Association, as of the second week of October, the national average LPG price was 1,144 won per liter, about 62% of the diesel price (1,843 won). Although the certified fuel efficiency of LPG is slightly lower than that of diesel, the price difference compensates for this.Assuming an annual driving distance of 18,000 kilometers, the fuel cost for the Porter II LPG would be approximately 3.17 million won, about 600,000 won less than the existing diesel model (3.77 million won). Additionally, unlike diesel vehicles, there is no need to replenish urea, further reducing maintenance costs.The ability to drive medium to long distances is another advantage. The new Porter II LPG is equipped with a donut-shaped tank, increasing its capacity to 94 liters, 10 liters more than the previous cylindrical fuel tank (84 liters). With 80% charging, the maximum driving range is 488 km for automatic and 525 km for manual. This distance allows for round trips from Seoul to some areas in Gangwon Province and one-way trips to Busan.On the highway, I was able to maintain a steady speed using the cruise control feature, alleviating the burden of prolonged acceleration. The lane departure warning system also helped ensure safe driving by alerting the driver when the vehicle strayed from its lane.The Porter II LPG also meets environmental standards, having received SULEV certification, which is recognized in North America for stringent emissions regulations. In South Korea, it has obtained a three-tier low-emission vehicle certification, allowing for discounts of 20% to 50% at public and airport parking facilities, depending on the region.* This article has been translated by AI. 2026-10-24 06:04:00
Interest Rates Rise Above 4%: Should You Lock in for 6 Months or a Year? With annual time deposit rates surpassing 4% at major banks, financial consumers have more options for managing their savings. Although the Bank of Korea has kept the base rate steady, the possibility of future increases has led to increased deliberation on whether to secure a high rate for one year or opt for a shorter-term deposit. According to the financial sector on October 24, Shinhan Bank's 'Super SOL Welcome Time Deposit' offers a maximum annual interest rate of 4.0% for a one-year term. The base rate is 3.6%, but customers can earn an additional 0.2 percentage points by using the 'Shinhan Super SOL' app and meeting salary transfer conditions. Customers who sign up by the end of the year will benefit from the app-related preferential rate, and those without salary transfer records for the past six months can receive an additional preferential rate by depositing over 500,000 won monthly for three consecutive months. SC First Bank's 'e-Green Save Deposit' provides a base rate of 3.85% for a one-year term, with a 0.2 percentage point preferential rate for new customers, bringing the total to 4.05%. NH Nonghyup Bank's 'NH All-One Bank 10th Anniversary Deposit' also offers a maximum annual rate of 3.9%, with a base rate of 3.75% and an additional 0.15 percentage points for customers without any NH savings or deposits in the last six months. Savings banks are also offering products with rates above 4%. OK Savings Bank's 'OK e-Regular Deposit' provides 4.1% for terms between six and nine months, and 4.05% for terms exceeding nine months but less than 15 months. The 'OK e-Safe App Plus Regular Deposit 6' starts with an initial rate of 4.1%. Although the contract lasts for three years, the interest rate changes every six months, allowing customers to withdraw without penalty if they align with the interest adjustment cycle. How much difference does this make in actual interest earned? For a deposit of 10 million won at an annual rate of 4.0% for one year, the pre-tax interest is 400,000 won. After deducting a 15.4% income tax, the net interest is 338,400 won. For a 4.05% product, the net interest is 342,630 won, while for a 3.9% product, it is 329,940 won. If 10 million won is managed at both 4.0% and 4.1% for one year, the difference in net interest is only 8,460 won. Choosing the right term is also crucial. A deposit of 10 million won at an annual rate of 4.0% for one year yields 400,000 won in pre-tax interest. In contrast, a 6-month deposit at 4.1% would yield 205,000 won. If the same principal is then deposited again for another six months, a rate above 3.9% would be needed to match or exceed the interest earned from the one-year deposit at 4.0%. This calculation assumes no reinvestment of the interest earned during the first six months. If rates rise further, a strategy of opting for short-term deposits and reinvesting may be advantageous. Conversely, if deposit rates decline, locking in the current rate for one year may be preferable. However, it is important to note that an increase in the base rate does not necessarily lead to a proportional rise in deposit rates. The Bank of Korea's Monetary Policy Committee decided to maintain the base rate at 3% this week, following two consecutive increases in July and August to assess their impact, while leaving the door open for further hikes. Consumers should consider not only the highest rates but also the preferential conditions and timing of fund usage. Failing to meet salary transfer or new customer conditions may result in lower effective rates, and early withdrawal could lead to lower interest rates than agreed. The deposit protection limit is 100 million won per person, including principal and interest, for both banks and savings banks. Rather than trying to predict interest rate trends, it is essential to secure living expenses separately and choose deposit terms that align with the timing of fund usage.* This article has been translated by AI. 2026-10-24 06:04:00
2026 Seongnam Tech Art Festival Kicks Off AI, advanced technology, and cultural arts converged at the '2026 Seongnam Tech Art Festival,' which opened on October 23 at Pangyo Station Square. Hosted by the city of Seongnam and organized by the Seongnam Cultural Foundation, the festival aims to allow citizens to experience cutting-edge technology and engage with cultural arts under the theme 'Making the City Thrive with Technology and Art.' The event will run until the 25th at various locations, including Pangyo Station Square, Tancheon, and Seongnam Sports Complex. Approximately 1,000 attendees, including citizens and business representatives, participated in the opening ceremony. The festival commenced with a performance by the humanoid robot 'UchiBot' from Mind AI, which entertained the audience with a show set to popular music. Following the performance, Seongnam Mayor Shin Sang-jin and key attendees participated in a touch-button ceremony alongside the robot, and the five-member crew 'Beatpella House' delivered a celebratory performance combining beatboxing and a cappella. During the opening ceremony, Mayor Shin stated, “The Seongnam Tech Art Festival aims to ensure that citizens can not only appreciate advanced technology and cultural arts but also experience and enjoy them in their daily lives.” This year's festival features a program that encompasses technology exhibitions, hands-on experiences, media content, and performances. At Pangyo Station Square, the 'SN26' conference and a tech pop-up zone will be available, while Tancheon will showcase a media canvas and a fusion multi-show. A playground for experiencing robots and AI technology has also been set up. Notably, a drone light show involving approximately 3,000 drones is scheduled as a key program. Performances will take place on the night of the 24th at Tancheon and on the 25th at Seongnam Sports Complex. The festival aims to provide a visual spectacle that combines advanced technology and visual arts through nighttime performances utilizing drones. This event focuses on linking Pangyo's technological industry with cultural arts content, allowing citizens to encounter future technologies like AI and robotics in their everyday lives. The festival is expected to enhance citizens' accessibility to technology through various experiences and performances, serving as a bridge connecting local technological and cultural resources. Mayor Shin added, “We will create a city where advanced technology and cultural arts naturally permeate citizens' lives, making them accessible to everyone.”* This article has been translated by AI. 2026-10-23 22:04:00