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  • Leadership Candidates Present Visions for Seoul National University Amid Challenges
    Leadership Candidates Present Visions for Seoul National University Amid Challenges Seoul National University (SNU) is facing multiple challenges, including stagnation in global university rankings, fierce competition from rival institutions, and a high dependency on government funding that has accumulated over 15 years since its transition to a corporate structure in 2011. As the university approaches its centennial in 2046, the race for the 29th president has officially begun. The first public presentation, organized by the SNU Presidential Recommendation Committee, took place on September 17 from 2 PM to 5 PM at the College of Medicine auditorium on Yeonkeun Campus. This event served as a platform for candidates to diagnose the current state of SNU and propose improvement strategies. The four candidates—Kang Jun-ho, Choi Hae-cheon, Lee Jae-young, and Kim Hyun-chul—each presented their prepared pledges and engaged in a Q&A session, showcasing their distinct strategies and visions. Crisis at Yeonkeun Campus—Addressing Poor Educational and Research Environments and Dental School Enrollment The first public presentation took place at Yeonkeun Campus, where the candidates addressed the chronic issues of space and research infrastructure shortages, as well as the need for reform in the dental school enrollment system. Regarding the restoration of the dental school's enrollment cap of 45 students, Kang Jun-ho stated that recovering the enrollment would require amending the Ministry of Education's enforcement decree and negotiating with other colleges. He pledged to lead negotiations with the government and other colleges if an internal agreement is reached. Lee Jae-young noted that there had been historical allocations of 10 students each from the College of Humanities, College of Social Sciences, College of Natural Sciences, and 5 from the College of Business, emphasizing the need for decisive action rather than leaving it to zero-sum battles between colleges. He promised to be a COO president who would facilitate negotiations with the government for integrated operations of undergraduate and graduate programs. In contrast, Choi Hae-cheon expressed a general stance that restoring the six-year dental program would be desirable and that he would work hard to persuade the government. Kim Hyun-chul argued that under a system dominated by campaign-affiliated appointees, it would be impossible to adjust enrollment due to vested interests, asserting that a president without a campaign team would persuade colleges directly through collective intelligence from the newly established higher organization. The candidates also presented differing views on the poor educational and research environments at Yeonkeun Campus. Kang Jun-ho expressed disappointment over the missed opportunity for a significant deal on the Yongsan Railway Bureau site, proposing to gradually acquire surrounding buildings and establish a biomedical cluster connecting Yeonkeun, Gwanak, and Siheung campuses. Choi Hae-cheon stated he would fully support any decisions made by the members regarding expansion of surrounding areas. Lee Jae-young promised to establish a 'Future Space Strategy Committee' led by the administration to mediate space conflicts among the nursing, medical, and dental colleges and prevent chaotic development by considering the utilization of nearby Korea National Open University spaces. Kim Hyun-chul emphasized a long-term comprehensive campus master plan connecting Gwanak and Yeonkeun campuses, stating that he would directly address administrative regulations and height restrictions to provide basic, AI, and integrated research spaces and shared offices for Yeonkeun researchers within the Gwanak campus.* This article has been translated by AI. 2026-09-17 19:56:00
  • SK On and L&F Form Alliance for LFP Supply Chain to Strengthen ESS Market Response
    SK On and L&F Form Alliance for LFP Supply Chain to Strengthen ESS Market Response SK On and L&F are collaborating to establish a domestic supply chain for lithium iron phosphate (LFP) battery materials, enhancing their response capabilities in the energy storage system (ESS) market.On September 17, SK On signed a supply contract for LFP cathodes with L&F at its headquarters in Jongno-gu, Seoul.Under this agreement, SK On will receive LFP cathodes worth 160 billion won from L&F for the production of ESS batteries over the next three years, from 2026 to 2028.The two companies plan to discuss extending the supply contract for up to three additional years after 2028, based on market conditions, supply performance, and customer demand.SK On intends to use the LFP cathodes secured through this contract in its production lines for ESS LFP battery cells at its factories in Seosan, South Korea, and Georgia, USA.With a stable supply chain for non-Chinese LFP cathodes, SK On expects to further solidify its competitive edge in the domestic and U.S. ESS markets.In fact, SK On demonstrated its business competitiveness by securing over half of the total 565 MW in the second ESS central contract market bid in February, winning 284 MW (approximately 50.3%). In August, it expanded its ESS business by signing a supply contract for LFP battery cells with U.S. company NeoVolta Power.To accommodate the increased orders, SK On is also accelerating the reconfiguration of its production lines. The Seosan plant will convert 3 GWh of its total 7 GWh capacity to produce ESS LFP batteries, with deliveries expected to begin in the first half of next year. The Georgia plant will also convert some lines for exclusive LFP battery production.L&F completed a dedicated LFP cathode factory in the Daegu Dalseong Industrial Complex in May. After stabilizing production and verifying quality, L&F shipped its first mass-produced LFP cathodes from its production line at the end of July. The cathodes supplied to SK On are high-density third-generation LFP cathodes that achieve higher energy density compared to standard LFP cathodes.Kim Seong-tan, head of raw material procurement at SK On, stated, "As the global ESS battery market begins to diversify its supply chains away from China, we have proactively secured high-quality domestic LFP cathodes through this long-term supply contract. This agreement will significantly enhance SK On's competitiveness in LFP battery materials."Lee Byeong-hee, COO of L&F, remarked, "This contract is a recognition of L&F's competitiveness in LFP products, customer responsiveness, and early mass production capabilities. We will continue to expand our customer base in the ESS and affordable EV markets based on stable mass production capabilities and differentiated product competitiveness, aiming to become a leading supplier of core materials in the global non-Chinese LFP supply chain."* This article has been translated by AI. 2026-09-17 19:56:00
  • Shinhan Bank Retains Incheon City’s Primary Treasury Management for 20 Years
    Shinhan Bank Retains Incheon City’s Primary Treasury Management for 20 Years Shinhan Bank has successfully retained its role in managing Incheon City’s primary treasury, a position it has held for nearly 20 years, overseeing approximately 15 trillion won in city funds for the next four years.On September 17, Incheon City announced the selection of Shinhan Bank as its primary treasury manager during a treasury designation review committee meeting. The selection process saw Shinhan Bank and Hana Bank compete for the role. Despite Hana Financial Group recently relocating its headquarters to Incheon’s Cheongna area to strengthen its local presence, Shinhan Bank maintained its position as the incumbent treasury manager.Shinhan Bank has managed Incheon City’s primary treasury since 2007. With this selection, it will continue in this role until the end of 2030. The funds managed by the primary treasury are estimated at 14.4527 trillion won based on the 2026 budget, which includes general accounts, special accounts for public enterprises, and various funds.The review committee, composed of 11 members including university professors, lawyers, certified public accountants, tax accountants, and city council members, evaluated the proposals and presentations from the applying financial institutions.Evaluation criteria included the financial institution's creditworthiness and financial stability, interest rates for loans and deposits to the city, convenience for citizens, treasury management capabilities, contributions to the local community, and collaborative projects with the city, across six categories with 20 specific items. Shinhan Bank received the highest score in this evaluation.NH Nonghyup Bank was selected as the secondary treasury manager. In this case, Nonghyup Bank applied alone after Incheon City reissued the call for applications, but no additional applicants came forward. Consequently, the review committee evaluated and ultimately selected Nonghyup Bank according to relevant regulations.Incheon City plans to notify the financial institutions of the selection results and finalize the next treasury management agreement next month. The new treasury management period will run from January 1, 2027, to December 31, 2030.A Shinhan Bank representative stated, "Based on our stable treasury management experience and financial capabilities, we will further enhance financial convenience for Incheon citizens and continue to contribute to the economic growth and regional development of Incheon."* This article has been translated by AI. 2026-09-17 19:52:00
  • U.S. Treasury Secretary Discusses Common AI Risks with China Ahead of Summit
    U.S. Treasury Secretary Discusses Common AI Risks with China Ahead of Summit As the United States and China prepare for a summit, discussions on economic and trade negotiations are underway, with the U.S. indicating a willingness to address common risks in the field of artificial intelligence (AI).Axios reported on September 16 that U.S. Treasury Secretary Scott Yellen expressed openness to discussions with China regarding AI-related risks and preventing technology separation.Yellen stated, "The U.S. remains a leader in the AI sector," adding that both sides are open to discussions aimed at avoiding shared risks and preventing the separation of their AI systems.She anticipated that the discussions would cover both open weight and closed weight models in AI. Open weight refers to AI models where weights are made public, allowing users to modify and utilize them, exemplified by China's DeepMind. In contrast, closed weight models do not disclose weights and are accessed through services provided by companies, as seen with U.S. firms like OpenAI and Anthropic.The mention of potential U.S.-China cooperation in AI is noteworthy amid ongoing technological competition between the two nations. There have been calls within the AI industry for the U.S. and China to collaborate on safety standards to manage risks associated with technological advancements.Yellen is scheduled to meet with He Lifeng, China's Vice Premier, in New York on September 20. The two sides are expected to discuss economic issues, including AI, trade, and rare earths, and coordinate agendas for the upcoming U.S.-China summit at the White House on September 24.* This article has been translated by AI. 2026-09-17 19:48:00
  • Newly Listed Stablecoin Soars 197% on Upbit Amid Price Discrepancies
    Newly Listed Stablecoin Soars 197% on Upbit Amid Price Discrepancies A newly listed stablecoin has experienced an unusual surge, skyrocketing over 190% as its price diverged significantly from global rates on domestic exchanges. According to the cryptocurrency industry, as of 6:42 PM on September 17, the JPYC (Japanese Yen Pei Coin) was trading at 35.7 won on Upbit, marking a 197.5% increase from its listing price. At the same time, cryptocurrency analytics firm CoinMarketCap reported the JPYC price at 9.65 won, indicating that Upbit's price was more than three times higher than the global market. Upbit began trading support for the dollar stablecoin PayPal USD (PYUSD) at noon on the same day, followed by the launch of JPYC trading at 6 PM. PYUSD also saw significant price fluctuations immediately after its listing. Starting at around 1,380 won, the price surged to 1,760 won by 6:20 PM before dropping back to the 1,380 won range. Stablecoins are designed to be pegged to the value of fiat currencies like the dollar or yen, or specific assets, with the aim of reducing price volatility. Therefore, such a dramatic price increase immediately after listing is considered unusual. There have been previous instances of rapid price movements for stablecoins on domestic exchanges. For example, the euro stablecoin EURC, which was listed on Bithumb on August 28, started trading at 1,583 won on September 14 and briefly soared to 7,860 won. On the same day, Upbit also listed EURC, where the price spiked to 3,300 won on September 13, showing a significant discrepancy from global rates. Industry experts suggest that these phenomena are likely temporary price distortions caused by concentrated buying activity on domestic exchanges immediately after new listings, rather than fluctuations in the inherent value of stablecoins. They note that during the initial listing phase, insufficient trading volume can lead to significant price movements from just a few buy orders.* This article has been translated by AI. 2026-09-17 19:28:00
  • Concerns Raised Over Future Response Funds Impact on Local Governments
    Concerns Raised Over Future Response Fund's Impact on Local Governments Concerns have emerged within the ruling party regarding the potential for the establishment of a Future Response Fund to exacerbate financial instability among local governments.A seminar held by the Democratic Party's Good Local Government Committee on September 17 at the National Assembly focused on discussions surrounding the possible reduction of local allocation taxes due to the creation of the Future Response Fund.Yum Tae-young, chair of the Good Local Government Committee, emphasized, "If changes in national finances lead to instability in local finances, the burden will inevitably fall on local governments and residents." He stressed the need for local governments to secure substantial financial sovereignty.During the seminar, a proposal was made to prioritize the calculation of local allocation taxes in the distribution of excess tax revenues, with a portion of the funds allocated to the Future Response Fund from resources belonging to the central government. There were also calls to establish a legal limit on the fund's expansion to prevent unlimited growth.On September 1, the government announced a funding plan that prioritizes the allocation of excess tax revenues from the semiconductor sector to the Future Response Fund. According to this plan, local allocation taxes are expected to decrease by approximately 30.5 trillion won nationwide.Democratic Party governors, including Woo Sang-ho of Gangwon Special Self-Governing Province and Heo Tae-jeong of Daejeon, have publicly expressed their opposition. Governor Woo urged the government to devise measures, stating on September 14 at a Gangwon budget policy meeting, "If the Future Response Fund is not utilized significantly, we will not only miss out on the benefits of excess tax revenues but also face a decrease in tax revenues." Mayor Heo, while acknowledging the fund's purpose during a Daejeon budget policy meeting on September 16, requested that it not hinder local economic revitalization.Meanwhile, the Good Local Government Committee plans to gather local governments' opinions on the changes to local allocation taxes resulting from the introduction of the Future Response Fund and relay them to the party leadership.* This article has been translated by AI. 2026-09-17 19:12:00
  • Rep. Cho Jung-hoon Proposes Defining Personal Data as Property Under Civil Law
    Rep. Cho Jung-hoon Proposes Defining Personal Data as Property Under Civil Law On September 17, Rep. Cho Jung-hoon of the People Power Party held a meeting at the National Assembly in Yeouido, Seoul, with victims of the Tving data breach.Attendees criticized the lack of measures to recover from the data breach. One participant stated, "Although personal information has been leaked, there is no compensation for the victims," and suggested that a portion of the fines collected should be used for a victim relief fund. Another participant added, "Since the responsibility for the data breach lies with the company, they should provide compensation without requiring victims to file claims."Rep. Cho remarked, "In South Korea, personal data is considered data, not property. I will push for measures to define it as property under civil law."Meanwhile, Tving reported that 70 types of personal information, including IDs, passwords, and linked information (CI), were leaked. On September 3, Tving CEO Choi Joo-hee proposed compensation measures, including hacking and phishing insurance, premium viewing environments, and Tving points.* This article has been translated by AI. 2026-09-17 18:56:00
  • Bill Mandating 50%+1 Share Tender Offers Passes Committee with Bipartisan Support
    Bill Mandating 50%+1 Share Tender Offers Passes Committee with Bipartisan Support A bill requiring mandatory tender offers for acquiring a significant stake in publicly traded companies has passed the National Assembly's Political Affairs Committee with bipartisan support.On September 17, the committee held a full meeting and approved the 'Partial Amendment to the Capital Markets and Financial Investment Act' as a committee alternative.The bill aims to introduce a 'mandatory tender offer system' that obligates acquiring companies to make public offers when they seek to acquire a certain percentage of shares during mergers and acquisitions (M&A). This is intended to ensure that minority shareholders have the opportunity to sell their shares at a price that reflects a 'management premium' when control of the company changes hands.Earlier, the policy committees of the Democratic Party and the People Power Party reached an agreement on the proposed amendment during a joint meeting on September 15.The approved amendment stipulates that a mandatory tender offer is required when the largest shareholder holds more than 25% of the total issued shares or when an existing largest shareholder with over 25% acquires additional shares. In such cases, the acquirer must publicly offer to buy shares from minority shareholders that exceed the current holdings, up to 50%+1 share.Financial Services Commission Chairman Lee Ok-won expressed optimism after the bill's approval, stating, "By sharing the management premium, which has traditionally benefited only controlling shareholders, with minority shareholders, we expect to contribute to the realization of shareholder equality."However, lawmakers Jo Jung-hoon of the People Power Party, Park Hong-bae of the Democratic Party, and Han Chang-min of the Social Democratic Party abstained from the vote.Jo expressed concerns that the implementation of the system could require excessive capital to defend management rights, potentially limiting domestic M&A activity to only large global capital. Meanwhile, Han argued that it would be preferable to require the acquirer to purchase all remaining shares through a tender offer, stating, "If set at 50%+1 share, the existing controlling shareholder would still enjoy the management premium, making it difficult for all minority shareholders to share in that benefit."The capital markets law amendment that passed the committee will now undergo review by the Legislation and Judiciary Committee before being presented to the full assembly.* This article has been translated by AI. 2026-09-17 18:56:00
  • Mokpo Mayor Kang Seong-hwi Protests for Review of National Medical School Candidate Selection
    Mokpo Mayor Kang Seong-hwi Protests for Review of National Medical School Candidate Selection Kang Seong-hwi, the mayor of Mokpo, staged a one-person protest in front of the Education Ministry regarding the controversy surrounding the selection of candidate universities for a new national medical school in Jeollanam-do.On September 16, Kang demanded a comprehensive review and rejection of the candidate university recommendation for the national medical school during his protest.This demonstration aimed to convey concerns raised by Mokpo and the southwestern community about the fairness and legality of the candidate selection process to the Education Ministry, seeking government-level examination.Mokpo and the southwestern community argue that there were procedural and legal issues in the selection process, calling for a complete review and rejection of the recommendation. However, the legality and fairness of these claims are currently under judicial review, and no court ruling has been made yet.This is not Kang's first protest. On September 14, he urged the court to make a decision regarding the injunction filed by National Mokpo University against the city of Gwangju concerning the selection and recommendation of candidate universities for the new national medical school.At that time, Mayor Kang stated, "The process must be fair for the results to be accepted," emphasizing the need to verify the issues raised during the review process and ensure procedural fairness.This time, the focus shifted to directly communicating Mokpo's position that the candidate university recommendation should be re-evaluated at the Education Ministry.Meanwhile, Mokpo and the southwestern community continue to raise concerns with the government and judiciary following the candidate university recommendation for the national medical school. On September 4, Mokpo issued a joint statement with local political circles, followed by a rally in front of the Blue House on September 5 and a coordinated response from southwestern mayors and county heads on September 9. National Mokpo University has also filed for an injunction against the selection and recommendation process, escalating the controversy surrounding the recommendation procedure to judicial scrutiny.* This article has been translated by AI. 2026-09-17 18:52:00
  • Mother and I Bought Lottery Tickets Together: 333rd Pension Lottery 720+ Winning Numbers Draw Attention
    Mother and I Bought Lottery Tickets Together: 333rd Pension Lottery 720+ Winning Numbers Draw Attention "After work, I bought lottery tickets for the Lotto and Pension Lottery for 5,000 won each at a store I often visit with my mother on our way to exercise."As interest grows in the winning numbers for the 333rd Pension Lottery 720+ on September 17, the story of a winner from the 223rd Pension Lottery 720+ has come to light.In a post on the Donghaeng Lottery winners' board, the winner of the 1st place (1 ticket) and 2nd place (4 tickets) in the 223rd Pension Lottery 720+ shared, "One day after work, I bought Lotto and Pension Lottery tickets for 5,000 won each at a store I often visit with my mother on our way to exercise. Later that night, I checked the winning numbers at home using the QR code."He continued, "I was so surprised to see that I had won both 1st and 2nd place that I shouted to my mother, 'I think we did it!' My mother was confused and asked, 'What’s wrong with you?' We couldn’t believe it, so we scanned the QR code again and double-checked the numbers together."He added, "I shared the news with my family, and my father, thrilled about the 1st place win, asked for some pocket money. I still can’t believe I won."The winner, who purchased the tickets at a lottery store in Dong-gu, Daegu, responded to a question about his usual lottery buying habits, saying, "I buy Lotto and Pension Lottery tickets once a week."Regarding plans for the winnings, he stated, "I plan to save it."Meanwhile, the winning numbers for the 333rd Pension Lottery 720+ will be available after 7:05 PM today (17th).* This article has been translated by AI. 2026-09-17 18:52:00