AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

Jung Yeon-woo
  • Eduwill Reports Profits for Two Consecutive Years Under Yang Hyung-nams Leadership
    Eduwill Reports Profits for Two Consecutive Years Under Yang Hyung-nam's Leadership Eduwill has maintained profitability for two consecutive years since the return of Chairman Yang Hyung-nam, solidifying its performance rebound. Despite challenges posed by demographic changes and stagnation in the education market, the company's focus on operational efficiency and diversification of new business strategies has yielded positive results. According to Eduwill's 2025 audit report released on May 17, the company recorded annual revenue of approximately 82.3 billion won last year. Operating profit reached 6.4 billion won, marking a nearly 30% increase from the previous year’s 4.9 billion won, with an operating profit margin of 7.8%, demonstrating a stable profit trajectory. This marks the second consecutive year of profitability since 2024. This success is attributed to the rigorous management efficiency initiatives and cost-cutting measures implemented since Chairman Yang's return, along with a restructuring of the portfolio to focus on high-value educational content. Eduwill has declared this year as the 'Year of Rebound,' with a central focus on 'AX (AI Transformation)' for operational innovation. During a recent company-wide town hall meeting, Eduwill presented its new management direction emphasizing 'AX Execution.' The initiative aims to maximize internal productivity and invest the resources gained into enhancing the quality of its content. The goal is to provide students with more refined and personalized learning experiences, thereby solidifying its market dominance. The company is also committed to securing future growth opportunities in response to rapidly changing demographics. Eduwill has established three key strategic pillars: AI, Senior Market, and Global Expansion. First, it plans to aggressively target the senior market, which has emerged as a viable alternative due to declining school-age populations. Eduwill aims to significantly expand its professional training programs to assist the 50-60 age group with re-employment and personal development after retirement, positioning itself as an essential educational platform for this demographic. The company is also formalizing its overseas market entry. Building on its unique expertise in adult education accumulated domestically, Eduwill is establishing a business model centered on local partnerships to capture global educational demand, positioning itself as a leader in 'K-Edu.' Following its entry into Laos in 2024, Eduwill is intensifying its efforts in Southeast Asia and pursuing market expansion in the U.S., India, and Kenya through its AI-based educational platform. An Eduwill representative stated, "Since Chairman Yang's return, we have recorded profits for two consecutive years, fully restoring our foundational strength for growth beyond normalization. We aim to present an innovative model in the education industry through internal innovation via AX and the expansion into new territories of seniors and global markets."* This article has been translated by AI. 2026-05-17 17:43:03
  • 320 Policy Suggestions Received in 100 Days: Minister Responds to SMEs
    320 Policy Suggestions Received in 100 Days: Minister Responds to SMEs The Ministry of SMEs and Startups has confirmed that approximately 320 policy suggestions have been received through its "Direct Suggestions to the Minister" portal over the past 100 days. As of May 13, a total of 322 suggestions were submitted from February 2 to May 13, averaging 3.5 suggestions per day. Of these, 211 have received responses. The participation of a diverse group, including representatives from small and medium-sized enterprises (SMEs), small business owners, startup founders, bank employees involved in SME financing, and overseas citizens, has been noted as significant in conveying the voices from the field. Minister Han Seong-sook has personally read all the suggestions and responds directly to those that can be addressed immediately. For matters requiring further review, the ministry connects them with relevant departments for detailed examination. The suggestions are categorized into five types based on their content, scope, and necessity for action: 1) System Improvement (issues under the ministry's jurisdiction), 2) Policy Projects (long-term tasks requiring collaboration with other ministries or legislation), 3) Field Communication (inquiries and guidance), 4) Business Promotion, and 5) Others. Starting with an expanded executive meeting on May 18, the ministry plans to discuss key suggestions and system improvements with senior officials to ensure they lead to actual policy enhancements. Notably, suggestions that can be implemented immediately during policy operations have already been acted upon. For example, proposals related to the "Everyone's Startup" project included requests to ease restrictions for existing entrepreneurs and those who have not generated revenue after registering their businesses, as well as allowing overseas citizens to apply. In response, the ministry has included individuals wishing to start a business in a different industry within three years of their initial startup in the eligibility criteria. Additionally, overseas residents can now apply for business registration after verifying their identity through email and contact information. Starting from the second application round scheduled for June 2026, an IP-based identity verification method will be introduced to enhance convenience. Regarding policy funds for small businesses, requests for improvements to the first-come, first-served application system and issues with system stability have been received. The ministry has introduced a policy prioritization evaluation to comprehensively select applicants that align with funding purposes. It has also improved the system to accept all applications submitted during the application period. In response to suggestions for expanding financial support for companies struggling due to the Middle East conflict, the ministry has allocated 250 billion won for emergency management stabilization funds in this year's supplementary budget. Minister Han Seong-sook stated, "From urgent inquiries that need immediate resolution to sharp critiques of current systems regarding small business policy funds, technology protection, and startup support, as well as long-term policy issues requiring in-depth review such as regulatory improvements or legal amendments, each suggestion reflects the earnestness and dedication of the citizens. I recognize the weight of the proposals submitted by the public and carefully consider each response to ensure effective communication."* This article has been translated by AI. 2026-05-17 17:01:02
  • Venture Investments Surpass 3.3 Trillion Won in Q1, Driven by AI and Semiconductors
    Venture Investments Surpass 3.3 Trillion Won in Q1, Driven by AI and Semiconductors According to the Ministry of SMEs and Startups, new venture investments in the first quarter of this year reached 3.3 trillion won, marking the second-highest level on record. On May 17, the ministry reported that this figure represents a 24.1% increase compared to the same period last year. This follows a period of significant venture investment activity in 2022. The amount raised by new venture funds also hit a record high of 4.4 trillion won, up 30.7% from the previous year. By type of investor, policy finance increased by 82.0%, while private sector contributions rose by 19.8%. The top three sectors for venture investment in the first quarter of 2026 were 'ICT Services' (21.4%), 'Bio & Medical' (20.5%), and 'Electrical, Machinery & Equipment' (15.3%). The 'ICT Services' sector has consistently attracted the largest share of venture investments in the first quarter over the past five years, largely due to increased funding in artificial intelligence (AI) related fields. Notably, venture investments in the 'ICT Manufacturing' sector saw a staggering 99.5% increase compared to the previous year, driven by significant investments in AI semiconductor technology. Investments in the 'Bio & Medical' sector also surged, increasing by 85.5% (3.139 trillion won) year-on-year. This growth is attributed to large-scale investments in bio and medical companies, with eight firms attracting over 10 billion won in large investments, including instances of funding exceeding 100 billion won. The ministry attributed this venture boom to the catalytic role of the Fund of Funds. Over the past 20 years, 87% of the unicorn companies that emerged in South Korea have received support from the Fund of Funds. Since its inception in 2005, the cumulative total of venture investments in South Korea has reached 65.6 trillion won, with the Fund of Funds accounting for 37.2 trillion won, or 56.7% of the total market. The ministry has set a target of 2.6 trillion won for the Fund of Funds this year. Han Seong-sook, Minister of SMEs and Startups, stated, "Following the record second-highest venture investment performance in 2025, the significant increase in both venture investment and funds in the first quarter of 2026 is a very positive signal. The ministry will continue to promote the expansion of Fund of Funds investments and improve systems to incentivize private investment, ensuring that promising small and venture companies can grow into unicorns." 2026-05-17 12:24:50
  • Seragem Establishes Recovery Lounge to Support National Athletes
    Seragem Establishes 'Recovery Lounge' to Support National Athletes Seragem has upgraded the experience zone at the Jincheon National Training Center, creating the 'Seragem Champions Recovery Lounge.'According to Seragem, the newly unveiled 'Seragem Champions Recovery Lounge' features a complete renovation of the existing space under the slogan, "A new level of relaxation completes victory." The lounge includes the latest healthcare products, such as the premium massage chairs from the 'Pauze M Collection' (M10, M8 Fit, M6) and spinal care medical devices from the 'Master V Collection' (V7, V5), all aimed at supporting athletes' recovery and performance enhancement through relaxation.The Pauze M Collection chairs utilize patented direct heating technology to quickly deliver thermal stimulation, aiding muscle relaxation and recovery. They help alleviate tension in key areas such as the neck, shoulders, and back, providing an effective environment for fatigue recovery and condition management before and after training. The Pauze M10 is designed to focus on the neck, shoulders, and back simultaneously, while the Pauze M8 Fit offers customizable styling options with 12 different side cover choices to harmonize with the lounge's interior. The Pauze M6 features a built-in design that enhances space utilization by eliminating armrests and hiding the footrest.The Master V Collection spinal care devices provide deep, targeted massages for the back, neck, and shoulders. These products have been recognized by the Ministry of Food and Drug Safety for their effectiveness in aiding the treatment of herniated discs, degenerative stenosis, and muscle pain relief, which can help alleviate physical strain during training and assist in recovery management. As a result, it is expected that national athletes will benefit from improved spinal care and muscle pain relief during their training.Prior to establishing the 'Seragem Champions Recovery Lounge,' Seragem has collaborated with the Korean Sports Council to support the condition management of national athletes and promote the expansion of domestic sports. In August 2023, Seragem signed an agreement with the Korean Sports Council to donate 13 healthcare appliances to the Jincheon National Training Center, creating a relaxation space. They also plan to provide an experience zone for the national team training camp ahead of the 2024 Paris Olympics.Meanwhile, thanks to its diversified business strategy, Seragem reported consolidated revenues of 549.8 billion won and an operating profit of 25.8 billion won last year. Revenue increased by 0.7% year-on-year, while operating profit surged by 1,091%. The net profit was 1.9 billion won, marking a return to profitability.A Seragem representative stated, "We focused on restructuring the space into a relaxation-centered environment that directly impacts athletes' performance. We plan to continue supporting athletes in achieving their best condition on the world stage through our collaboration with the Korean Sports Council."* This article has been translated by AI. 2026-05-14 20:31:15
  • Ministry of SMEs Introduces Disclosure System for Fund Transparency
    Ministry of SMEs Introduces Disclosure System for Fund Transparency South Korea's Ministry of SMEs and Startups has announced the introduction of a new disclosure system aimed at enhancing transparency in the management of its fund of funds. This initiative is designed to boost confidence in the venture investment market and attract private capital that has been hesitant to enter.On May 14, the ministry, in collaboration with Korea Venture Investment Corp., discussed the "2027 Fund of Funds Investment Strategy and Disclosure System Implementation Plan," presenting a detailed roadmap.The key to this innovation is "information transparency." The ministry plans to publicly disclose major operational indicators of the fund of funds to enhance trust in its policy fund management.Previously, metrics such as liquidation returns and success stories of invested companies were shared only within the industry. Now, these will be visualized and made accessible to the public in an easily understandable format. This aims to demonstrate to private investors that the fund of funds is generating substantial returns and achievements beyond mere financial support, thereby encouraging private capital inflow into venture funds.Since its inception in 2005, the fund of funds has invested 17 trillion won (approximately $15 billion), creating a total of 50 trillion won (about $38 billion) in sub-funds and investing in over 110,700 innovative startups. As of last year, the funds that have completed liquidation recorded an average annual return of 8%. According to the ministry, about 87% of domestic unicorn companies have received investments from the fund of funds, and in the past five years, 82% of companies listed on the KOSDAQ through technology special listings were funded by it.The size of the fund of funds has been steadily increasing. Last year, Korea Venture Investment Corp. contributed 2.22 trillion won, leading to the establishment of 4.47 trillion won in venture funds, which resulted in a total investment of 3.99 trillion won. This year, the ministry plans to invest a record 2.6 trillion won to support the growth of next-generation unicorns, regional businesses, cultural and tourism ventures, intellectual property, and biotechnology startups.Additionally, the ministry has taken the lead in expanding the regional venture investment ecosystem. It has established a dedicated regional investment fund worth 1.8 trillion won and invested in over 600 regional innovative companies. Funds that have been liquidated in the past five years have shown a respectable return of over 11%.Moving forward, the ministry aims to accelerate the establishment of the newly created "LP Growth Fund" to encourage participation from institutional investors, including pension funds, financial institutions, and industry players. Together with around 25 institutions, it plans to create a total of 850 billion won in sub-funds.Han Seong-sook, Minister of SMEs and Startups, stated, "Over the past 20 years, the fund of funds has played a crucial role in discovering promising startups and nurturing them into unicorn companies, significantly contributing to the growth and development of the venture investment market. We will strengthen our role as a catalyst for venture investment by promoting collaborations with relevant ministries to create big tech companies, expand the regional investment ecosystem, and attract private investment."* This article has been translated by AI. 2026-05-14 20:01:03
  • K-Beauty Drives Record Online Exports for South Korean SMEs in Q1
    K-Beauty Drives Record Online Exports for South Korean SMEs in Q1 Domestic small and medium-sized enterprises (SMEs) achieved record online export figures in the first quarter, driven by the strong performance of the K-beauty industry, according to a report released on May 14 by the Ministry of SMEs and Startups. The report, titled "2026 Q1 Online Export Trends for SMEs (Preliminary)," revealed that online exports from SMEs surpassed $300 million for the first time in the first quarter. SMEs accounted for 70.0% of total online exports, with the number of SMEs engaged in online exports increasing by 14.4% year-on-year to 2,735, marking the highest number recorded for the first quarter. Cosmetics, which represent the largest share at 65.8%, saw a remarkable 74.2% increase compared to the previous year, totaling $200 million and achieving the highest quarterly performance ever. Analysts attribute this success to the growing popularity of K-beauty and the effects of the "K-beauty Support Measures" announced last year. Export figures by country showed significant growth, with the United States at $90 million (+60.8%), China at $19 million (+90.8%), the United Kingdom at $18 million (+282.8%), Japan at $16 million (+25.3%), and the Netherlands at $15 million (+133.8%). The strong performance of cosmetics, a key product for SMEs, is also reflected in offline sales. In a report released on April 29, the Ministry of SMEs and Startups noted that cosmetics exports reached $2.18 billion in the first quarter, setting a new record for quarterly performance. Shim Jae-yoon, Director of Global Growth Policy at the Ministry of SMEs and Startups, stated, "The online market is a sector where SMEs have strengths, and the effects of policy support are leading to successful overseas expansion for domestic companies. We will actively support domestic businesses to expand into overseas markets and move beyond online sales to establish a local presence."* This article has been translated by AI. 2026-05-14 19:54:25
  • Korean Pharmaceutical Association VP Pledges Support for Global Success of K-Pharma in AI Era
    Korean Pharmaceutical Association VP Pledges Support for Global Success of 'K-Pharma' in AI Era Lee Jae-guk, Vice President of the Korean Pharmaceutical and Bio Association, announced plans to foster an innovative ecosystem that will enable 'K-Pharma' to grow into a global enterprise in the age of artificial intelligence (AI). Speaking at the 16th Global Healthcare Forum hosted by Aju Economy at the Korea Press Center in Jung-gu, Seoul, on May 14, Lee stated, "The domestic and international pharmaceutical and bio industries are entering a transformative era with the introduction of AI." He emphasized that global pharmaceutical giants are now in a competitive phase where AI strategies are yielding tangible results. "AI is changing the paradigm of drug development by being utilized throughout the entire process, from the discovery of drug candidates to the design and execution of clinical trials and regulatory reviews," he explained. "It plays a groundbreaking role in reducing research and development costs and shortening development timelines, and is also recognized as a key growth driver for licensing out and mergers and acquisitions with global big pharma." Lee further outlined his commitment to supporting the technological growth of the domestic pharmaceutical and bio industry to help it transition into a global player. He stated, "The association will actively support the AI revolution in K-pharmaceuticals and the establishment of a global value chain based on our accumulated experience through initiatives like the AI Drug Convergence Research Institute and the K-MELLODDY project, a joint R&D effort with the Ministry of Health and Welfare and the Ministry of Science and ICT." He concluded, "As the pharmaceutical and bio industry is a core strategic sector responsible for public health and the national economy, we will do our utmost to support the global success era of 'K-Pharma' in the AI age."* This article has been translated by AI. 2026-05-14 19:32:43
  • Ace Bed Launches Hotel-Style Low-Profile Bed Opimo III
    Ace Bed Launches Hotel-Style Low-Profile Bed 'Opimo III' Ace Bed has launched the 'Opimo III,' a hotel-style bed designed with a low-profile structure to enhance openness in the bedroom. According to Ace Bed, the Opimo III maximizes the sense of space and openness in the bedroom. Its low-profile design ensures that even when paired with a high pillow-top mattress, the overall height of the bed remains manageable, creating a visually spacious effect. The headboard features a dual head cushion that provides optimal comfort by supporting the body's curves while resting. The ends of the headboard are designed with a wing shape. The headboard's top and side panels include approximately 90mm of storage space, making it convenient for storing personal items like smartphones and glasses. Additionally, an integrated LED mood light offers three brightness levels, memory and timer functions, and a Type-C port, creating a customized sleeping environment, according to Ace Bed. The bed incorporates a low-profile T-type two-mattress system, with the lower mattress embedded within the frame for a clean appearance. This dual support structure effectively distributes weight, providing an optimal sleeping environment. Last year, Ace Bed reported sales of 317.2 billion won and an operating profit of 54 billion won, achieving a 17% operating profit margin. An Ace Bed representative stated, "The Opimo III, with its low-profile hotel design and practical features like storage space and LED lighting, meets the needs of modern consumers."* This article has been translated by AI. 2026-05-14 19:02:26
  • SK Hynix Tops Job Seekers Interest with 600 Million Won Bonus
    SK Hynix Tops Job Seekers' Interest with 600 Million Won Bonus A recent survey revealed that SK Hynix is the company attracting the most interest from job seekers. According to Incruit, an analysis of job seeker views on its recruitment news page showed that as of the second week of May, SK Hynix accounted for 6.1% of total views, placing it at the top. Kia followed in second place with 5.1%, while Hyundai Motor Company ranked third with 4.5%. Samsung Electronics secured fourth place with 4.4%, and Korea Airports Corporation, the only public institution in the top ten, came in fifth with 4.0%. Other notable companies included Korea Investment & Securities (3.6%), CJ Group (3.2%), KT&G (2.9%), LG Electronics (2.6%), and Hanmi Pharmaceutical (2.5%). The heightened interest in SK Hynix among job seekers appears to stem from an agreement reached between the company and its labor union last September, which decided to distribute 10% of operating profit as performance bonuses (PS) and eliminate the cap on these bonuses. Based on the total number of employees, it is projected that each SK Hynix employee could receive an average performance bonus of 600 million won next year. An Incruit representative stated, "We plan to provide information on company recruitment news for the remainder of the first half on our recruitment news page, and we are helping enhance job seekers' chances of success through our comprehensive Incruit Success Store."* This article has been translated by AI. 2026-05-14 12:40:08
  • Baedal Minjok Partners with Baemin Friends for Love Lunchbox Charity
    Baedal Minjok Partners with Baemin Friends for 'Love Lunchbox' Charity Baedal Minjok, a leading food delivery service in South Korea, collaborated with its partners to deliver lunchboxes to vulnerable children. On May 12, Baemin Friends, a community of Baedal Minjok partners, prepared and delivered lunchboxes to 150 households in need located in the Songpa District of Seoul. This 'Love Lunchbox' initiative was conducted in partnership with the World Vision Songpa Comprehensive Social Welfare Center. Over 40 employees from Woowa Brothers, the parent company of Baedal Minjok, and Baemin Friends partners gathered at the Baemin Academy Seoul Center to prepare lunchboxes featuring five popular side dishes, including quail egg soy sauce and stir-fried vegetables with sausage. Additionally, the partners included message cards designed by themselves to accompany the lunchboxes for the children. Baemin Friends is a community where Baedal Minjok's partner businesses share their challenges and expertise. Launched on October 1, 2020, with the core values of 'Together, Growth, Sharing,' Baemin Friends has evolved beyond a simple social gathering into a structure that fosters 'sharing leaders' who create and share content based on successful experiences. To date, 11 cohorts have been established. Gwon Yong-kyu, head of the Baemin Academy at Woowa Brothers, stated, "It was a meaningful time to practice sharing with our partner businesses in the community. We will continue to engage in various activities that promote a sustainable restaurant ecosystem and community sharing."* This article has been translated by AI. 2026-05-13 18:02:27