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  • Yongsan Park vs. Seoul City Alternative Sites: A Debate on Housing Supply
    Yongsan Park vs. Seoul City Alternative Sites: A Debate on Housing Supply The government and Seoul City are at odds over the use of Yongsan Park as a site for housing supply, drawing attention to the feasibility of the proposed sites, including supply scale, project procedures, and construction timelines. The government is considering areas within Yongsan Park that are approximately four times larger than the public land suggested by Seoul, but it must first navigate the hurdle of amending special legislation.Kim Yun-deok, Minister of Land, Infrastructure and Transport, is exploring housing options for young people and newlyweds centered around the 5th Military Officer's Quarters, military apartments, and the former Defense Acquisition Program Administration site. The plan aims to utilize only limited areas where buildings already exist, rather than the entire Yongsan Park.The three proposed sites cover about 166,000 square meters. The 5th Military Officer's Quarters spans approximately 49,000 square meters and was returned in 1986, previously operated by the Korea Housing Corporation for U.S. military officers. The military apartments cover about 44,000 square meters, while the former Defense Acquisition Program Administration site is around 73,000 square meters. Although these two sites were initially outside the main U.S. military base, they were later incorporated into the boundaries of Yongsan Park.The main obstacle for the government’s proposal is that all three sites are currently within Yongsan Park. To proceed with housing supply, amendments to the special law governing Yongsan Park are necessary, along with subsequent changes to park and urban planning. The former Defense Acquisition Program Administration site also contains historically and culturally significant military facilities, such as the Marine Corps Headquarters built in 1955, which adds complexity to the plan.In contrast, the alternative sites proposed by Seoul City are located outside the boundaries of Yongsan Park. These include properties owned by various government agencies, such as the National Defense Financial Management Agency, the Ministry of Foreign Affairs parking lot, and the Bank of Korea's Huam Living Quarters.The National Defense Financial Management Agency site is about 33,000 square meters, offering the largest potential for housing supply among the three alternatives. However, it is currently used by a direct unit of the Ministry of National Defense, necessitating the relocation of the unit and securing alternative sites.The Ministry of Foreign Affairs parking lot is approximately 3,300 square meters, conveniently located near Noksapyeong Station and requiring minimal demolition, allowing for relatively quick project advancement following necessary approvals and changes in use. However, its limited supply capacity is a drawback.The Bank of Korea's Huam Living Quarters covers about 4,000 square meters and is currently used for employee housing, necessitating relocation. Its narrow access road may also require integrated development with surrounding properties rather than standalone development.Combining the three sites proposed by Seoul City totals about 40,000 square meters, which is only a quarter of the area of the three sites under government consideration within Yongsan Park. While the supply capacity is smaller, the absence of a need to amend the special law makes the process relatively straightforward.Ultimately, the government’s proposal offers significant supply potential but faces numerous procedural hurdles, including special law amendments and changes to park plans. In contrast, Seoul City’s plan is simpler in terms of procedures but offers a smaller supply scale. Among the options presented by Seoul, the Ministry of Foreign Affairs parking lot is advantageous for speed, while the National Defense Financial Management Agency site has greater supply potential but requires unit relocation.The situation at Camp Kim near Yongsan Park illustrates the time and procedures necessary for actual construction. The government has expanded its original plan from 1,400 housing units to 2,500 but has set a target construction start date of 2029, pending the return of the military base, soil remediation, and development planning. The key variables for housing supply in the Yongsan area will not only be how many units can be built but also the time and procedures required to commence construction.* This article has been translated by AI. 2026-08-20 16:16:20
  • Chinese Stock Market Rises Amid U.S. Treasury Stability and Bio Sector Gains
    Chinese Stock Market Rises Amid U.S. Treasury Stability and Bio Sector Gains The Chinese stock market rebounded on August 20 after a decline the previous day. However, the increase was modest, making it difficult to interpret as a signal of a trend reversal. The Shanghai Composite Index closed up 0.24% at 3,903.72, the Shenzhen Component Index rose 0.59% to 13,972.78, and the ChiNext Index gained 0.64% to finish at 3,495.59.The U.S. Treasury's announcement to double the size of its long-term Treasury buyback program to $4 billion positively impacted the Chinese market. Following this announcement, the yield on 30-year U.S. Treasury bonds fell to around 5.19%, while the 10-year yield dropped to 4.64%. This eased concerns over the recent surge in long-term interest rates that had pressured global financial markets.Analysts also noted a technical rebound following the previous day's sharp declines, with bargain hunting in stocks that had fallen excessively.In a report, Dongfang Securities stated, "Technology stocks remain a key pillar supporting the market in the medium term, but the portfolio allocation should gradually shift from AI hardware to other AI sectors." They added, "In the medium term, uncertainty is at a stable level, and risks are manageable."Construction stocks saw a rare uptick, with Chengdu Holdings hitting its upper limit and Xinda Dichan recording significant gains. This was bolstered by the Shanghai municipal government's announcement of new real estate market stabilization policies. The measures include optimizing public fund policies and expanding the scope of down payment assistance to support home purchases.The pharmaceutical and biotech sectors also performed well, with Shiyao Chuangxin and Boteng Guifen reaching their upper limits. The surge in shares of Chinese biotech companies was influenced by Moderna's stock, which soared 180% in the U.S. market after announcing positive results in Phase 3 clinical trials for an mRNA cancer vaccine developed in collaboration with Merck. This outcome was seen as validation of the potential of mRNA technology, stimulating interest in Chinese mRNA firms.On the same day, the People's Bank of China set the yuan's central parity rate against the dollar at 6.7808 yuan, a decrease of 0.0046 yuan from the previous day, reflecting a 0.07% increase in the yuan's value. 2026-08-20 16:16:10
  • SK Innovation Supports Navys First Maritime Refueling Training in Ulsan
    SK Innovation Supports Navy's First Maritime Refueling Training in Ulsan SK Innovation participated in a fuel distribution training exercise organized by the Joint Chiefs of Staff, assessing the energy supply response system for wartime scenarios.From August 19 to 20, SK Innovation conducted a 'Civil-Military Joint Fuel Receipt and Distribution Training' at the Ulsan Complex (Ulsan CLX) with the participation of the Joint Chiefs of Staff, Army, Navy, Air Force, Marine Corps, and related agencies.This training was part of the Ulchi exercise, aimed at strengthening the civil-military collaboration system to ensure the rapid and stable supply of fuel required by the military in wartime situations.SK Innovation, in collaboration with the military, trained on the fuel receipt and distribution process using various equipment, including tank trucks, rail tank cars, and tankers, while reviewing overall procedures from the establishment of the situation room to the operation of dispatch facilities and responses to emergencies such as fires.Notably, this training included the Navy's logistics support vessel directly receiving fuel at the Ulsan CLX maritime dock, marking the first maritime refueling training of its kind. Given the recent conflicts in the Middle East, the importance of maintaining stable fuel supply capabilities in wartime has increased, prompting a review of maritime-based fuel support systems in addition to traditional land-based training.As a critical national facility, SK Innovation maintains a stable energy supply system while ensuring the uninterrupted provision of fuel to the military in emergencies. The company is also continuously enhancing its response system to maintain supply stability in the event of emergencies such as hacking or pipeline damage.The emergency planning officer at SK Innovation stated, "Fuel is a strategic resource directly linked to national security, and it is crucial to have a system in place that can supply it reliably even in emergencies. We will continue to work closely with relevant agencies to strengthen our emergency response capabilities and fulfill our role in supporting national energy security."Meanwhile, Ulsan CLX is a major domestic energy production hub equipped with various fuel dispatch infrastructures, including land, rail, and maritime facilities.* This article has been translated by AI. 2026-08-20 16:16:00
  • BBQ Donates 100 Million Won to South Korean National Team for Asian Games
    BBQ Donates 100 Million Won to South Korean National Team for Asian Games 제너시스BBQ 그룹이 2026 아이치-나고야 아시안게임에 출전하는 대한민국 국가대표 선수단에 격려금 1억원을 전달했다. BBQ는 충북 진천 국가대표선수촌에서 열린 2026 아이치-나고야 아시안게임 미디어데이에 앞서 국가대표 선수단의 선전을 기원하는 격려금 1억원을 전달했다고 20일 밝혔다. 행사에는 윤홍근 제너시스BBQ 그룹 회장과 유승민 대한체육회장 등이 참석했다. 이번 지원은 아시안게임을 앞두고 훈련 중인 선수들을 격려하기 위해 마련됐다. BBQ는 지난달에도 진천 국가대표선수촌을 찾아 선수와 코칭스태프 약 500명에게 '순살크래커'와 치즈볼, 레몬보이 등 500인분의 복날 특식을 제공했다. 윤홍근 회장은 "대한민국을 대표해 아시안게임을 준비하고 있는 선수들이 흘린 땀과 노력이 좋은 결실로 이어지기를 바란다"며 "모든 선수들이 부상 없이 대회를 마치고 국제무대에서 그동안 갈고닦은 기량을 마음껏 펼칠 수 있도록 한마음으로 응원하겠다"고 말했다. 유승민 대한체육회장은 "대한민국 국가대표 선수들을 위해 지속적으로 관심과 지원을 보내준 제너시스BBQ 그룹에 감사드린다"며 "선수들이 국민들의 응원에 힘입어 최고의 경기력을 발휘할 수 있도록 대회 준비와 선수 지원에 최선을 다하겠다"고 말했다. BBQ는 2021년 치킨 프랜차이즈 업계 최초로 대한체육회의 '치킨 프랜차이즈 부문 공식 후원사'로 선정된 이후 국제대회에 출전하는 국가대표 선수단을 지원해 왔다. 도쿄올림픽과 베이징동계올림픽, 항저우아시안게임 등에 출전한 '팀코리아'를 후원했으며 2023년 항저우아시안게임 당시에도 대한체육회에 격려금 5000만원을 전달했다. 한편 2026 아이치-나고야 아시안게임은 다음 달 19일부터 10월 4일까지 16일간 일본 아이치현과 나고야시 일대에서 개최된다. 2026-08-20 16:16:00
  • SK hynix turns AI windfall into shares with new bonus deal
    SK hynix turns AI windfall into shares with new bonus deal SEOUL, August 20 (AJP) - SK hynix is spreading the gains from its AI memory boom across employees and shareholders, striking a tentative deal to pay 60 percent of performance bonuses in company shares just a day after unveiling a record 40 trillion won ($28.6 billion) share buyback. The two moves underscore how surging profits and cash flow are giving the world's leading HBM supplier room to simultaneously reward workers and shareholders while continuing massive investment in production capacity needed to meet AI demand. Under the tentative collective bargaining agreement announced Thursday, 40 percent of the company's profit-sharing bonus, known as PS, will be paid in cash in the year of payment, while another 40 percent will be distributed in SK hynix shares. The remaining 20 percent will be deferred and paid in shares over the following two years, with 10 percent distributed each year. Employees will be able to increase the share-based portion to as much as 100 percent. During the first year of the new system, however, employees will also be allowed to opt for an all-cash payment under certain circumstances. The agreement represents a significant change from the compensation framework reached last year, when SK hynix and its unions abolished a cap on PS and agreed to allocate 10 percent of annual operating profit to the bonus pool for 10 years. Under that arrangement, 80 percent of the bonus was to be paid in cash in the year of payment, with the remaining 20 percent deferred over the following two years. The shift toward stock comes as SK hynix's earnings have surged on demand for high-bandwidth memory, or HBM, used in artificial intelligence accelerators, sharply increasing the potential size of employee bonuses. To limit employees' exposure to share-price fluctuations, the number of shares awarded will be calculated using the lowest closing price among three reference points: the date preliminary annual earnings are disclosed, the cash bonus payment date and the share distribution date. The tentative agreement also includes a 6.3 percent wage increase. In return for sharing more directly in profits during strong years, employees would also participate in cost-saving measures during downturns. If SK hynix posts a loss, up to 3 percent of wages could be deferred under measures aimed at protecting employment and helping the company recover, with the deferred amount paid after the company returns to profit. The arrangement echoes measures taken during the 2023 memory downturn, when employees deferred part of their wages before receiving the money after SK hynix returned to profitability. The employee compensation overhaul comes alongside an even larger payout to shareholders. SK hynix on Wednesday approved a 40 trillion won share buyback and cancellation program, the largest of its kind by a South Korean listed company. The chipmaker plans to buy about 24.07 million shares, equivalent to roughly 3.3 percent of its outstanding stock, between Aug. 20 and Nov. 19 and cancel all of the shares acquired. SK hynix also raised its shareholder-return commitment, saying it now plans to return more than 50 percent of cumulative free cash flow generated between 2025 and 2027 through share buybacks, cancellations and dividends. The previous policy called for returns within 50 percent of cumulative free cash flow. The scale of those commitments reflects a dramatic change in SK hynix's financial position as the AI memory boom generates cash even as the company pours tens of trillions of won into new fabs and advanced memory capacity. The company had about 69 trillion won in net cash at the end of the second quarter. Investors cheered the shareholder-return push. SK hynix shares closed 12.67 percent higher at 1.69 million won on Thursday, recovering from a 9.75 percent drop in the previous session. The rally suggests investors are responding to SK hynix's attempt to balance three increasingly expensive demands on its AI windfall: rewarding shareholders, compensating employees and funding the capacity needed to defend its lead in HBM. The proposed overhaul comes amid debate inside SK hynix over how its rapidly growing AI-driven profits should be distributed. A newly established unified union has separately made preserving cash-based PS payments one of its priorities, potentially adding another variable as the tentative agreement moves toward approval. The agreement still requires approval through a vote by union delegates before taking effect. "The starting point of this agreement is that labor and management found a breakthrough on their own without relying on external mediation or institutional intervention," SK hynix said. "We have established a mature model of labor-management cooperation that enables society, employees, the union and the company to pursue sustainable growth together." AJP Takeaways SK hynix is directing its AI-driven cash windfall toward both employees and investors, with 60 percent of performance bonuses set to shift into shares alongside a record 40 trillion won share buyback. The company has raised its shareholder-return target to more than 50 percent of cumulative free cash flow from 2025 through 2027, while continuing heavy investment in AI memory production. Shares jumped 12.67 percent Thursday, suggesting investors welcomed the company's effort to balance shareholder returns, employee compensation and investment as HBM profits swell. 2026-08-20 16:13:36
  • Former President Moon Jae-in to Visit Mongolia for UNCCD Conference
    Former President Moon Jae-in to Visit Mongolia for UNCCD Conference 문재인 전 대통령이 유엔사막화방지협약(UNCCD)과 오흐나 후렐스흐 몽골 대통령의 공식 초청을 받아 오는 23일부터 31일까지 8박 9일 일정으로 몽골을 방문한다. 퇴임 이후 두 번째 해외 공식 방문이다. 문 전 대통령 측은 20일 문 전 대통령이 몽골 수도 울란바토르에서 열리는 UNCCD 제17차 당사국총회(COP17)에 참석하고 한·몽 산림협력 현장을 방문할 예정이라고 밝혔다. UNCCD COP17은 지난 17일 개막해 오는 28일까지 열린다. 문 전 대통령은 24일 오전 총회 개막식에서 후렐스흐 대통령의 개회사에 이어 귀빈 연설을 할 예정이다. 이후 몽골 대통령 주최 오찬과 몽골 총리 주최 만찬 리셉션에 참석한다. 또한 26일 오후 열리는 ‘평화산림이니셔티브(PFI·Peace Forest Initiative)’ 고위급 라운드테이블에서 기조연설에 나선다. PFI는 문 전 대통령 재임 당시인 2019년 한국 정부와 UNCCD가 협력해 인도 뉴델리에서 열린 제14차 당사국총회를 계기로 출범시킨 구상이다. 접경지역과 분쟁지역의 산림 복원을 통해 평화와 신뢰 구축을 촉진하는 것이 목표로, 현재 중앙아시아와 아프리카, 인도네시아, 보스니아 헤르체고비나 등에서 시범사업이 진행되고 있다. 올해는 2006년 한·몽 정상회담을 계기로 시작된 ‘한·몽 그린벨트 프로젝트’가 20주년을 맞는 해이기도 하다. 문 전 대통령은 이번 방문을 통해 양국의 산림협력 성과를 돌아보고 기후변화와 사막화 대응을 위한 국제사회의 협력을 강조할 것으로 보인다. 문 전 대통령은 COP17 참석을 계기로 전·현직 국가수반들과도 만난다. 핀란드 최초의 여성 대통령으로 2000년부터 2012년까지 재임한 타르야 할로넨 전 대통령과 양자 면담을 갖는다. 재임 기간 문 전 대통령과 정상회담을 갖고 기후변화 대응과 탄소중립 달성 필요성에 공감했던 카를로스 알바라도 케사다 전 코스타리카 대통령과도 대화를 나눌 예정이다. 문 전 대통령은 러시아 국경과 맞닿은 몽골 북부 토진나르스(Tojin Nars)도 방문한다. 이 지역은 1990년대 이후 대규모 벌채와 1996년 대형 산불로 약 2만6000㏊의 산림이 사라진 곳이다. 한국의 민간단체인 사단법인 평화의숲과 유한킴벌리는 2003년부터 이 지역에 약 1000만 그루의 나무를 심고 가꿔왔다. 문 전 대통령 측 관계자는 “문 전 대통령은 산림 복원 현장을 둘러보고 한·몽 산림협력의 지속적인 발전을 기원하는 기념식수를 할 예정”이라고 말했다. * This article has been translated by AI. 2026-08-20 16:12:20
  • Homeplus Plans to Sell 19 Stores and Use Secured Loans to Repay Debts
    Homeplus Plans to Sell 19 Stores and Use Secured Loans to Repay Debts Homeplus announced plans to sell its owned stores among the 37 locations that are closing, using the proceeds to repay secured trust bondholders if its rehabilitation plan is approved.In a statement on August 20, Homeplus said, "Once the rehabilitation plan is approved, we will immediately begin selling 19 of the 37 closed stores we own, with the goal of completing the sales by February 2028."The company explained, "The proceeds from the sale of these 19 owned stores will be used to address the claims of secured trust bondholders, and we believe we can fully repay them with these funds."Homeplus added, "Once we fully repay the secured trust bonds, the collateral will be released, allowing us to utilize the stores we own for real estate secured loans."The company plans to take out real estate secured loans against 38 owned stores in two phases, in February 2030 and February 2037, to repay debts. The estimated appraisal value of these stores is approximately 2.8 trillion won.Homeplus stated, "In 2030, we will take out a small secured loan relative to our asset size to repay debts, and in 2037, we plan to expand the loan to a typical real estate secured loan size to cover any outstanding debts, including those from the 2030 loan."The company believes it can manage the debt repayment burden based on cash generation from normalizing operations. Homeplus projected that by 2030, all 67 stores will be fully operational, generating annual sales of 4.3 trillion won and an operating profit of 162.8 billion won. By 2037, operating profit is expected to increase to 218.2 billion won, with an annual surplus cash flow of between 150 billion and 300 billion won, which will not pose an operational burden.Meanwhile, the deadline for the approval of Homeplus's rehabilitation plan is set for next month, on September 4. 2026-08-20 16:12:00
  • MUSINSA Beauty Festa Highlights Emerging K-Beauty Brands
    MUSINSA Beauty Festa Highlights Emerging K-Beauty Brands "We are giving away 100% gifts! Look for the panthenol serum card!"On August 20, the MUSINSA Beauty Festa in Seongsu, located in the Seongdong District of Seoul, buzzed with energy as industry professionals and influencers flocked to various brand booths. Long lines, exceeding 10 meters, formed at each booth as attendees engaged in random draws and product experiences. Many participants used their smartphones to search for newly discovered brands and products while waiting in line.MUSINSA held a media day on this day, a day before the main event of the 'MUSINSA Beauty Festa in Seongsu,' which will take place from August 21 to 23 in the Seongsu area.The main venue, 'MUBUPE Hall,' is just a three-minute walk from Seongsu Station and spans two floors, featuring a variety of brands from skincare to color cosmetics and beauty devices. This year, over 60 brands are participating, an increase from the 40 brands that took part last year. Each brand set up independent booths focused on product experiences. Visitors could use products directly or complete missions to receive prizes, emphasizing an experiential approach rather than a simple exhibition.A long line also formed at 'The Secret Lab,' located at the entrance of MUBUPE Hall. This space was created in collaboration with COSMAX, a cosmetics manufacturing and development company, to support emerging beauty brands.A MUSINSA representative stated, "The Secret Lab introduces 20 emerging brands and showcases new products. We selected brands with annual sales below 12 billion won, and COSMAX provides production, planning, and R&D support, while MUSINSA assists with online and offline market development." Representatives from COSMAX were also present to offer support.The event's scale has expanded to encompass the entire Seongsu area. The main venue, MUBUPE Hall, is connected to 'Next Beauty Hall,' located just a minute's walk away, as well as the MUSINSA offline store, 'MUSINSA Megastore Seongsu,' creating a 'K-Beauty Roadmap' linking key locations in Seongsu.MUSINSA appears poised to accelerate its efforts in nurturing emerging brands this year. Over 80% of the participating brands are indie brands, with four out of ten having been established for less than five years. This strategy reflects MUSINSA's intention to apply its successful approach of discovering and growing emerging brands in the fashion industry to the beauty market.A MUSINSA representative remarked, "We aim to strengthen our role as a platform for discovering the 'Next K-Beauty' by introducing emerging brands that have limited offline customer touchpoints." 2026-08-20 16:04:10
  • South Korea Advances Saemangeum Development Timeline by 15 Years
    South Korea Advances Saemangeum Development Timeline by 15 Years The South Korean government plans to accelerate the completion of the Saemangeum development project from 2050 to 2035, advancing the timeline by 15 years. The new strategy shifts from a private investment model to a public-led approach, where the government will first develop land expected to attract corporate demand.The area designated for the Saemangeum industrial complex will expand significantly from 12.1 square kilometers to 37.5 square kilometers. The industrial hubs, previously concentrated in one area, will be reorganized into four sectors focusing on robotics and artificial intelligence (AI), advanced machinery, hydrogen, and RE100 industries. Hyundai Motor Group's planned investment of 9 trillion won will be incorporated into the new master plan, with construction of an AI data center expected to begin as early as March next year.On August 20, the Saemangeum Development Agency unveiled the revised master plan, emphasizing the need to concentrate public investment in areas with actual demand to expedite the development process.The current master plan aims to reclaim a total of 240.5 square kilometers by 2050. The revised plan adjusts this to prioritize the reclamation of 169.6 square kilometers by 2035, with public institutions like the Saemangeum Development Corporation leading the development efforts.Additionally, a strategic reserve area of 12.2 square kilometers will be set aside for future corporate investments without predetermined uses, bringing the total reclamation target to 181.8 square kilometers.Areas with deep water that would incur high reclamation costs or are limited by airport noise will not be reclaimed. Instead, some of these areas will be converted into energy sites for renewable energy production.The Saemangeum Development Agency plans to focus on developing land in high-demand areas over the next decade, supplying the necessary power from nearby energy sites.The industrial zones will see a substantial increase, with the current 12.1 square kilometers expanding by an additional 25.4 square kilometers to a total of 37.5 square kilometers. The existing industrial hub will be expanded from one to four locations.The first industrial zone will focus on robotics and AI, linked to Hyundai Motor Group's investment; the second will be dedicated to advanced agricultural machinery; the third will be associated with hydrogen production and renewable energy; and the fourth will serve as a hub for RE100-related industries utilizing surrounding energy sites.To facilitate the development of the third industrial zone, some existing tourism and leisure land will be converted into industrial land, aiming to create a hydrogen-specialized industrial zone linked to nearby solar and hydrogen facilities.The capacity for renewable energy generation will also increase from the current 7 gigawatts to 10 gigawatts. The Saemangeum Development Agency is working with Jeollabuk-do to designate the first industrial zone's sections 3, 7, and 8, as well as the third industrial zone in Buan, as RE100 zones, with a long-term goal of establishing all four industrial zones as RE100.Tax incentives and regulatory exemptions will be strengthened, including corporate tax reductions for investment promotion zones and the expansion of comprehensive bonded zones. The agency is also pursuing the designation of a 'mega special zone' that combines support for new industry pilot projects with infrastructure and policy financing.Transportation networks will be enhanced to match the expansion of industrial hubs. The north-south axis road is set to begin construction in 2030 following a pre-feasibility study. The new railway connecting to Saemangeum Port is scheduled for completion in 2033, while the Saemangeum International Airport is expected to be finished by 2030, and the new Saemangeum Port by 2040.The new plan also includes expanding regional rail and express bus rapid transit (BRT) systems to connect Saemangeum with nearby cities such as Gunsan, Gimje, Jeonju, and Iksan. Instead of building all residential, educational, and medical facilities within Saemangeum, the strategy will leverage existing urban functions in surrounding cities.The new master plan incorporates Hyundai Motor Group's announced investment plan of approximately 9 trillion won for Saemangeum. The group aims to develop an AI data center, a robotics manufacturing cluster, an electrolysis plant, solar power generation, and an AI hydrogen city.The key facilities, including the robotics manufacturing plant and AI data center, will be located in section 7 of the first industrial zone. Hyundai Motor Group plans to submit a construction review for the AI data center in September, with the Saemangeum Development Agency aiming to finalize building permits by the end of the year. The goal is to begin construction in March 2027.To facilitate this, the Saemangeum Development Agency will amend the development plan for section 7 of the first industrial zone by September to allow the addition of 'broadcast and communication facilities' to the permitted structures for the data center.Construction for solar power generation and hydrogen production facilities will begin in phases starting at the end of next year. Agricultural land in section 3 will be converted to energy land to supply sites for land-based solar power, with the renewable energy produced being utilized for hydrogen production facilities.Hyundai Motor Group is also considering expanding the AI data center beyond the initial plan announced in February. The group is pursuing co-investment opportunities with related companies in Saemangeum and is improving living conditions for employees of Hyundai and its affiliates. Land designated for logistics and support facilities in section 7 of the first industrial zone will be changed to industrial land, while some land for industrial and research facilities in section 9 will be converted to residential land.The waterfront city will serve as an AI pilot city for testing robotics, autonomous vehicles, hydrogen cars, and demand-responsive transportation systems (DRT). The Saemangeum Development Agency plans to develop this area as a physical AI demonstration hub in collaboration with the Ministry of Land, Infrastructure and Transport.In environmental efforts, the agency will promote the expansion of drainage sluices to improve water quality in Saemangeum Bay and prevent flooding. This will enhance drainage capacity while increasing seawater circulation, and the installation of tidal power generation facilities linked to the sluices is also under consideration. The basic planning for this initiative will be conducted by April next year.The Saemangeum Development Agency will begin gathering feedback from local residents and related organizations with a community briefing on August 24, followed by a public hearing in September. The revised master plan will be finalized in October after review by the Saemangeum Committee.Moon Sung-yo, head of the Saemangeum Development Agency, stated, “We will listen to local opinions on the revised master plan and expedite the reclamation process to deliver tangible results for the public. We will also swiftly provide the necessary support to Hyundai Motor Group and create a foundation for global companies to continue investing in Saemangeum.”* This article has been translated by AI. 2026-08-20 16:04:00
  • LG CNS Deploys Quadruped Patrol Robot at Tower Palace
    LG CNS Deploys Quadruped Patrol Robot at Tower Palace On August 20, in the Tower Palace complex in Gangnam, Seoul, a quadruped robot began its patrol as intermittent rain fell. "Welcome to Tower Palace. Please be cautious as I am in motion," the robot announced repeatedly.As it followed a designated path, the robot navigated down and up steps, avoiding pedestrians in its way and maintaining balance on inclines. The outdoor demonstration was briefly conducted under a roof due to the rain, but continued outside as the downpour eased.The demonstration site was part of a proof of concept (PoC) for a quadruped security robot being developed by LG CNS in collaboration with Tower PMC, a premium residential management company. The two companies plan to conduct the PoC at Tower Palace for about two months before launching actual operations in the fourth quarter.LG CNS has developed the upper equipment and patrol software, utilizing its own robot platform, 'Physical Works,' while employing the 'M20' quadruped robot from Deep Robotics for hardware. The patrol platform, 'Physical Works Patrol,' manages site maps, movement nodes, patrol routes, and photography.The robot is equipped with both standard and thermal cameras. The thermal camera is particularly useful for detecting overheating at electric vehicle charging stations and identifying smokers. The robot travels daily along pre-designated patrol points, capturing and storing video and images, while AI analyzes the data to detect unusual situations such as intrusions or fires.Residents passing by showed interest in the robot. One resident extended a foot in front of the robot to see if it would avoid them, and the robot recognized the obstacle, turning right to pass by. Children approached to watch its movements, and some residents took photos with their phones. One resident remarked, "This is the first time I've seen a robot move like this," expressing fascination.Another resident tested the robot's stability by pushing it, and the robot maintained its balance on all fours. A representative on site explained that it could support the weight of a person weighing around 60 kilograms.The robot moves at approximately 1.5 meters per second and can autonomously navigate obstacles under 15 centimeters in height.During the PoC, LG CNS will assess the robot's safety for outdoor operations, its ability to photograph and check facility conditions, and its capacity to navigate safely in the underground parking lot, which has many steps and curbs, while detecting unusual situations. The company noted that it has reduced the robot's deployment period from several months to one or two months by enabling it to quickly learn and operate based on site data.The technical verification in the underground parking lot will be particularly detailed, as there is a risk of large-scale accidents related to electric vehicle charging and fire hazards. The robot aims to address these issues effectively.Using learned data, the robot will autonomously patrol common areas and the underground parking lot, alerting the management office if it detects suspicious behavior or overheating at electric vehicle charging stations. This will allow managers to respond quickly to on-site situations. The robot is also equipped with two-way voice communication, enabling real-time interaction to assess situations and determine appropriate follow-up actions.A representative from LG CNS stated, "The robot will repeatedly patrol the electric vehicle charging area on the fifth basement level of Tower Palace, using the thermal camera to check for overheating of electric vehicles and charging facilities."In the event of an unusual situation, the robot can automatically notify the disaster response center for prompt action. The patrol process, which typically takes security personnel 1-2 hours, can be set to repeat in shorter intervals, such as every 30 minutes.LG CNS plans to continuously enhance the robot's functions and performance while establishing a collaborative system with various service robots. For instance, if the security robot detects trash in the complex, it will request a cleaning robot to handle the task, enabling autonomous execution of various facility management duties through inter-robot collaboration.Myung Chang-guk, executive director of LG CNS's Smart Logistics Center/Robot Business, remarked, "This collaboration is a significant example of how physical AI technology creates customer value in real residential environments. LG CNS will continue to expand AI robot services where various robots perform actual tasks and collaborate based on Physical Works."Kang Min-soo, CEO of Tower PMC, stated, "Among the various tasks performed by security personnel, the robot will primarily take over repetitive patrol duties. We expect to achieve significant workforce efficiency when the robot can conduct patrols reliably without human intervention." 2026-08-20 16:04:00