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  • KOSPI Plummets After Initial Drop, Struggles to Maintain 6500 Level Amid Foreign and Institutional Selling
    KOSPI Plummets After Initial Drop, Struggles to Maintain 6500 Level Amid Foreign and Institutional Selling The KOSPI index dropped more than 6% in early trading on August 19, before partially recovering, but continued selling by foreign and institutional investors has left it struggling around the 6500 mark. The domestic market is being pressured by rising U.S. long-term Treasury yields and a sharp decline in semiconductor stocks, while individual investors have stepped in to buy more than 4 trillion won worth of shares.As of 1:21 p.m. KST, the KOSPI was trading at 6478.56, down 391.27 points (5.70%) from the previous trading day.The index opened at 6528.77, down 341.06 points (4.96%), and fell as much as 469.02 points (6.83%) to 6400.81 in early trading. Although it has since reduced some of its losses, it is facing challenges in recovering the 6500 level due to ongoing selling pressure from foreign and institutional investors.At 9:06:02 a.m., a sell-side circuit breaker was triggered in the securities market, temporarily halting the effectiveness of program sell orders. This was triggered when the KOSPI 200 futures price fell 6.02% from the reference price. This marks the 25th time this year that a sell-side circuit breaker has been activated in the securities market.At this time, foreign and institutional investors have net sold 27.54 billion won and 17.51 billion won, respectively, while individual investors have net bought 43.71 billion won, attempting to support the index.Among the top market capitalization stocks, Samsung Electronics (-7.45%), SK Hynix (-9.03%), SK Square (-10.57%), Samsung Electro-Mechanics (-5.21%), Hyundai Motor (-5.29%), Samsung Biologics (-0.20%), and KB Financial (-3.15%) are all experiencing declines. In contrast, LG Energy Solution (1.28%) and Hanwha Aerospace (1.57%) are seeing gains.Notably, Samsung Electronics and SK Hynix, which had been strong until the previous day, have dropped by 7% to 9%, leading the decline in semiconductor stocks. However, some defense stocks are seeing buying interest, showing a differentiated trend.At the same time, the KOSDAQ index recorded 829.84, down 4.36 points (0.52%) from the previous trading day. The KOSDAQ fell more than 2% in early trading but has significantly reduced its losses, hovering around the 830 mark.In the KOSDAQ market, foreign and institutional investors have net bought 4.39 billion won and 4.43 billion won, respectively, while individual investors have net sold 9.39 billion won.Among the top market capitalization stocks, Rainbow Robotics (-1.17%), Juseong Engineering (-1.95%), and HLB (-1.85%) are declining. Conversely, Alteogen (2.35%), EcoPro (0.46%), EcoPro BM (1.92%), Wonik IPS (0.36%), Rino Technology (1.77%), IOTech (1.69%), and ABL Bio (1.50%) have turned positive compared to early trading.The sharp decline in the domestic stock market today is attributed to the simultaneous rise in U.S. long-term interest rates and weakness in semiconductor stocks. Overnight, the yield on U.S. 30-year Treasury bonds exceeded 5.33%, reaching its highest level since 2007, while semiconductor stocks like Micron and SanDisk, which had recently been strong, faced significant selling pressure as investors took profits.* This article has been translated by AI. 2026-08-19 13:32:00
  • Bioneer Reports Record Quarterly Revenue and Hair Loss Research Breakthrough
    Bioneer Reports Record Quarterly Revenue and Hair Loss Research Breakthrough Bioneer, a genetic engineering company, has recorded its highest quarterly revenue to date and announced significant progress in hair loss research, leading to a surge in its stock price.As of 1:14 PM on August 19, Bioneer shares were trading at 9,190 won, up 2,120 won (29.99%) from the previous trading day, according to the Korea Exchange.Analysts attribute the rise in investor sentiment to improved second-quarter results and the publication of hair loss-related clinical trial results in the official journal of the American Academy of Dermatology.Bioneer reported that its consolidated revenue for the second quarter reached approximately 96.1 billion won, an 8.9% increase compared to the same period last year, marking the highest quarterly revenue in the company's history. The cumulative revenue for the first half of the year was about 177.9 billion won.Profitability also improved. After recording an operating loss of about 500 million won in the first quarter, the company turned a profit in the second quarter. Bioneer explained that the increase in revenue, alongside a rise in research and development expenses for new drugs by approximately 1.4 billion won compared to the previous quarter, contributed to this improvement.On the same day, Bioneer announced its hair loss research results, further boosting its stock price.The company revealed that the results of a clinical trial confirming the applicability of its Cosmerna follow-up technology were published in the 'JAAD,' the official journal of the American Academy of Dermatology. Bioneer stated, "Based on these research results, we are actively considering the commercialization of Cosmerna follow-up products utilizing DKK1 targeting technology."* This article has been translated by AI. 2026-08-19 13:32:00
  • Anyang Mayor Choi Dae-ho Pledges to Protect Citizens Property Rights and Housing Stability
    Anyang Mayor Choi Dae-ho Pledges to Protect Citizens' Property Rights and Housing Stability Choi Dae-ho, the mayor of Anyang, expressed on August 19 that he will implement practical administration to protect citizens' property rights and housing stability. On this day, Mayor Choi announced that starting December 17, a special measure regarding the organization of specific buildings will be temporarily implemented for 18 months. This measure aims to actively support the legal approval of residential specific buildings that were constructed without permits or have not received usage approval. Mayor Choi is focusing administrative efforts on the legalization of residential specific buildings, emphasizing the protection of citizens' property rights and housing stability. This initiative is not merely about addressing illegal constructions; it aims to help citizens who have used these homes as their primary residences for a long time fully exercise their property rights. The mayor stressed that protecting citizens' lives and property is a crucial responsibility of local government and that he will actively support citizens in experiencing the benefits of the legalization system within the limits of the law. The legalization targets residential specific buildings that were essentially completed before December 31, 2023, and are used for residential purposes for more than 50% of their total floor area. Specifically, this includes multi-family homes with a dedicated area of 85 square meters or less per unit, single-family homes with a total floor area of 165 square meters or less (up to 330 square meters when the ordinance is enacted), multi-family homes with a total floor area of 660 square meters or less, and neighborhood facilities that are essentially used as residences. However, not all illegal constructions will be legalized; they must meet relevant laws and safety standards. Building owners or developers must submit an application with architectural plans and site inspection reports prepared by an architect. The city will then decide on the usage approval after a review by the Building Committee. The review will take place within 30 days of the application, and applicants can receive their usage approval after paying a fine equivalent to five times the enforcement penalty. Mayor Choi plans to expedite the establishment of related ordinances to ensure that citizens can practically feel the benefits of the system. In particular, he intends to include specific criteria in the ordinance to reduce the burden on citizens, such as easing the obligation to install parking facilities, thereby enhancing the effectiveness of the legalization. Additionally, a 'Specific Building Support Center' will be established in November to create a one-stop support system where citizens can receive consultations on eligibility, application procedures, required documents, and Building Committee reviews all in one place. Reactions from citizens regarding this initiative have been positive. Citizens who own or reside in homes that have not received usage approval due to circumstances during the construction process expect this special measure to provide an opportunity to alleviate long-standing property rights restrictions. Citizens have expressed that it is necessary to open pathways for legal usage approval for homes where people actually reside, as long as there are no safety issues, and they anticipate a reduction in inconveniences experienced during property rights exercise, sales, and inheritance processes. There are also calls for administrative agencies to actively guide citizens to minimize the costs and procedures involved in the application process and to easily verify their eligibility. In response to these opinions, Mayor Choi plans to strengthen pre-consultation and promotion centered around the support center even before the system is implemented, providing clear guidance on eligible buildings and application methods. Meanwhile, Mayor Choi emphasized, "I will spare no administrative support to ensure that this special measure can be an opportunity to restore citizens' property rights and enhance housing stability," adding, "We will continuously strengthen promotion and consultation to help eligible citizens actively utilize the system."* This article has been translated by AI. 2026-08-19 13:12:00
  • Korean Deputy Prime Minister Calls for Increased U.S. Investment
    Korean Deputy Prime Minister Calls for Increased U.S. Investment Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol has recognized members of the American Chamber of Commerce in Korea (AMCHAM) as integral to the Korean economy and has requested continued domestic investment.Koo attended an AMCHAM-hosted meeting on August 19 at the Grand Hyatt Hotel in Seoul, where he outlined Korea's economic and financial policy direction and listened to the opinions of member companies. The meeting was attended by over 150 participants, including AMCHAM Chairman James Kim, U.S. government officials, and executives from domestic and international companies.Koo stated, "The Korean government views AMCHAM member companies not as 'foreign enterprises' but as part of the Korean economy," noting that the investments and employment generated by these companies over the past 70 years have already become a part of Korea's economic landscape.He further requested ongoing and expanded domestic investment, policy suggestions reflecting on-the-ground experiences, and effective communication to convey changes in Korean policy to global investors.This meeting was a follow-up discussion regarding the 'Korean Financial Hub Promotion Strategy' report that AMCHAM submitted to the government in April. In response to AMCHAM's proposals, the government has decided to raise the foreign currency borrowing reporting threshold for foreign bank branches from $50 million to at least $100 million.Koo also explained plans to ease foreign exchange regulations, including the transition to a 24-hour foreign exchange market and the formal launch of an offshore won payment system in January next year.He highlighted that Korea's real growth rate is projected to reach 3% this year, the highest in five years, with the possibility of per capita income exceeding $40,000. Koo introduced the '3-4-5 Vision,' which aims for a potential growth rate of 3%, becoming the world's fourth-largest exporter, and achieving a per capita income of $50,000, along with three major mega projects in semiconductors, artificial intelligence (AI), and data centers.To foster the capital market as a key platform for growth, the government plans to amend corporate laws to expand the duty of loyalty for directors to include shareholders and to gradually incorporate into the World Government Bond Index (WGBI).During a discussion moderated by James Kim, strategies for implementing a $350 billion strategic investment between Korea and the U.S. were also addressed. Koo emphasized that with the establishment of the Korea-U.S. Strategic Investment Corporation (KUIC) in June, a foundational framework has been set, and both countries' private sectors should work together to identify projects that are viable and mutually beneficial.In the AI sector, cooperation between AMCHAM's 'AI Leadership Committee' and the government was discussed. Koo remarked on the agreement between Korean companies and U.S. tech giants for $950 billion in collaboration, stating, "This is evidence that Korea is a promising hub in the global AI supply chain."The government plans to consult with relevant ministries on the opinions raised during the meeting and to incorporate necessary institutional improvements into policy.* This article has been translated by AI. 2026-08-19 13:00:20
  • Gwangju City Declares New Talent Development System
    Gwangju City Declares New Talent Development System Gwangju City is set to establish a talent development system tailored to local characteristics and responsibilities. This new system will connect primary, middle, and high school education with college admissions, local industries, and residency, marking a significant overhaul of the current education framework. On August 19, Gwangju City officials held a press conference at the Gwangju City Hall briefing room to announce the 'Joint Declaration for a Regional Responsibility Education Transformation in Gwangju.' Attendees included Min Hyung-bae, the integrated mayor; Kim Dae-jung, the superintendent of Gwangju City; Lee Geun-bae, president of Chonnam National University; Lee Joo-hee, president of Dongshin University and chair of the Gwangju-Jeonnam University Presidents Council; and Lee Ho-kyun, president of Mokpo Science University and chair of the Gwangju-Jeonnam Community College Presidents Council. This initiative was prompted by President Lee Jae-myung's remarks on August 5 during a report from the Ministry of Education and the National Education Commission, where he suggested reviewing education policies that align with regional characteristics. The institutions involved aim to integrate the separated educational systems of Jeonnam and Gwangju, connecting schools, universities, industries, and talent over the past 40 years, to create a shared educational framework that allows local students to thrive as key contributors to their communities. A collaborative development body involving local governments, education offices, and universities will be established to create a 'regionally responsible college admissions system' and gradually expand the target and selection ratio for local talent admissions. To cultivate talent in strategic local industries such as semiconductors, they plan to jointly request the central government to ease regulations related to university enrollment and admissions processes, aiming to realize 'local production for local consumption' in education. The institutions will also seek to enhance local autonomy within the educational curriculum. They plan to request the Ministry of Education and the National Education Commission for special provisions to autonomously operate the Gwangju-type curriculum based on descriptive and essay-type assessments and absolute grading. Additionally, they emphasized the principle of maintaining equity among regions and students while implementing policies gradually after thorough social discussions and validations. Moving forward, Gwangju City plans to solidify the cooperation framework among local governments, education offices, and universities, continuing discussions on the regional responsibility college admissions system, curriculum special provisions, expansion of local talent admissions, and talent development in strategic industries.* This article has been translated by AI. 2026-08-19 13:00:00
  • Samsung Electronics Service Sets Up Mobile Center in Geoje for Flood Recovery
    Samsung Electronics Service Sets Up Mobile Center in Geoje for Flood Recovery Samsung Electronics Service announced on August 19 that it has dispatched a 'disaster recovery special service team' to the Geoje area in South Gyeongsang Province, which has been affected by heavy rainfall.The special service team has established a mobile service center near the Geoje Dundeok Office, offering cleaning and free inspection services for flooded appliances such as air conditioners, refrigerators, and washing machines.Residents who visit the mobile center to report damage will receive direct inspections from dedicated engineers. In areas with severe flooding, engineers are conducting on-site visits to check the condition of appliances and carry out repairs.A bus equipped with mobile phone inspection equipment has also been deployed to provide cleaning, drying, and malfunction checks for flooded smartphones.Samsung Electronics Service plans to continuously monitor the damage situation in the region and will consider sending additional special service teams as needed.In addition to the on-site service team, customers can also request inspection and repair services through the contact center for flood-damaged appliances.* This article has been translated by AI. 2026-08-19 12:56:00
  • KOSDAQ Companies Report 62% Increase in Operating Profit in First Half of 2026
    KOSDAQ Companies Report 62% Increase in Operating Profit in First Half of 2026 In the first half of 2026, KOSDAQ-listed companies saw their operating profit increase by over 60% compared to the same period last year, indicating a clear improvement in performance. The electronics and retail sectors led this profit growth, with net income nearly tripling and the number of profitable companies significantly rising. However, the debt ratio has increased, indicating a growing financial burden.According to the Korea Exchange's report on the '2026 Semiannual Settlement Results for KOSDAQ Companies,' the total revenue for 1,264 companies analyzed, excluding financial firms, those undergoing mergers and acquisitions, and companies that did not submit regular (semiannual) reports, reached 183.5753 trillion won, a 27.17% increase from the previous year. Operating profit rose to 9.4279 trillion won, up 61.54%, while net profit surged to 9.7069 trillion won, marking a 286.95% increase.The operating profit margin improved from 4.04% in the first half of last year to 5.14% this year, an increase of 1.09 percentage points. The net profit margin also rose from 1.74% to 5.29%, a 3.55 percentage point improvement. This suggests that profitability has improved alongside revenue growth.By sector, the increase in operating profit was particularly notable in the electronics and retail industries. Operating profit increased in 17 sectors, including retail and general services, while it decreased in six sectors, including transportation equipment and parts. Revenue also grew in 19 sectors, such as medical and precision instruments, while it declined in four sectors, including construction.The positive trend continued into the second quarter. On a consolidated basis, revenue for the second quarter reached 99.0116 trillion won, a 17.09% increase from the first quarter, while operating profit rose to 5.2951 trillion won, up 28.13%. Net profit also increased to 5.2991 trillion won, a 20.22% rise. The operating profit margin improved from 4.89% to 5.35%, an increase of 0.46 percentage points, and the net profit margin improved from 5.21% to 5.35%, a 0.14 percentage point increase.The number of profitable companies also increased. Among the 1,264 companies analyzed, 800 reported a net profit in the first half, accounting for 63.29% of the total. This is an increase of 121 companies compared to the 679 from the same period last year, representing a 9.57 percentage point rise. Of the profitable companies, 572 maintained profitability, while 228 transitioned from losses to profits. The number of loss-making companies decreased from 585 to 464. In the second quarter alone, the number of profitable companies rose to 810, up from 755 in the first quarter.Performance also improved for companies included in the KOSDAQ 150 index. The 129 companies in the KOSDAQ 150 reported consolidated revenue of 62.9483 trillion won in the first half, a 63.08% increase from the previous year. Operating profit rose to 4.4683 trillion won, up 58.42%, while net profit surged to 4.3028 trillion won, a 150.18% increase. The operating profit margin was 7.10%, significantly higher than the 4.11% for non-included companies, although it was a 0.21 percentage point decrease compared to the previous year.However, there are still concerns regarding financial stability. As of the end of the first half, total consolidated assets reached 539.1213 trillion won, a 12.48% increase from the end of last year, while total equity rose to 238.5059 trillion won, a 6.28% increase. In contrast, total liabilities increased by 17.94% to 300.6154 trillion won, outpacing the growth in equity. Consequently, the debt ratio rose from 113.58% at the end of last year to 126.04% at the end of the first half, an increase of 12.46 percentage points.Meanwhile, improvements were also observed in individual (separate) financial statements. For 1,587 comparable companies, revenue in the first half increased by 10.96% year-on-year, operating profit rose by 36.98%, and net profit surged by 240.23%. Notably, in the second quarter, revenue increased by 11.48%, operating profit by 42.92%, and net profit by 4.20% compared to the first quarter, with the number of profitable companies rising to 1,025, an increase of 48 from the previous quarter.* This article has been translated by AI. 2026-08-19 12:08:10
  • KOSPI Companies Report 254% Surge in Operating Profit in First Half of 2026
    KOSPI Companies Report 254% Surge in Operating Profit in First Half of 2026 In the first half of 2026, the consolidated operating profit of companies listed on the KOSPI surged by 254% compared to the same period last year. This significant increase was driven by improved conditions in the semiconductor sector, particularly benefiting the electronics industry, while financial firms, especially securities companies, also showed notable profit growth.According to the Korea Exchange's report on the '2026 Semiannual Settlement Results for December Settlement Corporations' released on August 19, the consolidated revenue of 634 companies analyzed, excluding newly established firms, those undergoing mergers and acquisitions, companies with adverse audit opinions, and financial firms, reached 2,001.26 trillion won, marking a 28.84% increase from the previous year. Operating profit soared to 388.15 trillion won, a 254.15% rise, while net profit climbed to 386.67 trillion won, up 333.30%. The operating profit margin improved from 7.06% to 19.41%, an increase of 12.35 percentage points, and the net profit margin rose from 5.75% to 19.33%, a 13.58 percentage point improvement.Notably, the performance improvement was not limited to major semiconductor companies. Excluding Samsung Electronics and SK Hynix, the consolidated revenue of December settlement corporations reached 1,562.86 trillion won, a 15.01% increase. Operating profit rose by 75.61% to 143.28 trillion won, while net profit increased by 119.68% to 133.56 trillion won, indicating that the positive trend was widespread.By sector, the electronics industry showed remarkable growth. The consolidated revenue for the electronics sector in the first half was 582.75 trillion won, an 80.47% increase year-on-year, with operating profit and net profit rising by 674.92% and 697.01%, respectively. The exchange reported that out of 20 sectors, 16, including electronics and IT services, saw revenue growth, while 14 sectors, including general services, experienced increases in operating profit. Conversely, six sectors, including entertainment and culture, as well as transportation and warehousing, reported declines in operating profit, highlighting disparities among industries.The financial sector also demonstrated clear performance improvements. Among 48 financial companies, excluding six that submitted individual financial statements, the remaining 42 reported a 36.07% increase in operating profit and a 32.82% rise in net profit compared to the previous year.Particularly, the securities industry experienced a substantial profit increase. Securities firms reported an operating profit of 9.21 trillion won in the first half, up 163.37% from 3.50 trillion won in the same period last year. Net profit also rose by 161% to 7.05 trillion won. Insurance companies saw their operating profit and net profit increase by 22.90% and 27.16%, respectively, reflecting strong performance. Meanwhile, financial holding companies reported increases of 20.89% in operating profit and 14.53% in net profit. In contrast, banks experienced declines in both operating profit and net profit, down 5.18% and 4.27%, respectively, indicating varying performance within the financial sector.Overall, the number of profitable companies also increased. Among the 634 companies analyzed, 519 reported a net profit in the first half, accounting for 81.86% of the total, up from 485 companies (76.50%) in the same period last year, an increase of 34 companies and 5.36 percentage points. Of these, 439 companies maintained profitability, while 80 transitioned from losses to profits. The number of loss-making companies decreased from 149 to 115.On a quarterly basis, the trend of improved performance continued. In the second quarter, consolidated revenue reached 1,075.28 trillion won, a 16.27% increase from the first quarter. Operating profit rose by 48.56% to 231.99 trillion won, and net profit increased by 73.70% to 245.40 trillion won. The operating profit margin improved from 16.89% to 21.58%, an increase of 4.69 percentage points. The number of companies reporting net profit in the second quarter also rose to 520, up from 501 in the first quarter.Financial soundness also improved. At the end of the first half, total consolidated assets reached 5,844.90 trillion won, a 15.77% increase from the end of the previous year, while total equity rose by 21.37% to 2,910.61 trillion won. During the same period, total liabilities increased by only 10.71% to 2,934.29 trillion won, resulting in a decrease in the debt ratio from 110.52% to 100.81%, a drop of 9.71 percentage points.Meanwhile, improvements were also observed in individual financial statements. The revenue of 720 companies analyzed in the first half reached 1,070.53 trillion won, a 34.47% increase from the previous year, while operating profit surged by 348.85% to 275.08 trillion won. Net profit also rose by 330.54% to 291.55 trillion won. The number of companies reporting net profit increased by 11 to 581, representing 80.69% of the total.* This article has been translated by AI. 2026-08-19 12:08:10
  • Government Increases Wage Guarantee for Workers Affected by Business Bankruptcy
    Government Increases Wage Guarantee for Workers Affected by Business Bankruptcy The scope of the bankruptcy compensation fund, which provides payments to workers who have not received wages due to business bankruptcies, will expand from three months to six months. Additionally, the loan limit for employers seeking to settle wage arrears will increase to a maximum of 1 billion won when collateral is provided.The Ministry of Employment and Labor announced on the 19th that the revised Wage Claim Guarantee Act and its enforcement rules will take effect on the 20th.The bankruptcy compensation fund is a system where the government pays a certain amount of unpaid wages and severance pay on behalf of employers who are unable to pay due to bankruptcy or rehabilitation proceedings. Previously, the fund covered the last three months of wages, suspension allowances, maternity leave pay, and the last three years of severance pay.The revised law expands the coverage for wages and suspension allowances to the last six months, while maintaining the three-year limit for severance pay. As a result, the total cap on bankruptcy compensation that a single worker can receive will increase from 21 million won to 31.5 million won. However, the actual payment amount will be subject to age and monthly limits.For example, if a 35-year-old worker with a monthly wage of 3.5 million won experiences a total of 17.5 million won in unpaid wages over the last five months, under the previous system, they would only receive up to 9.3 million won, applying the age-based monthly limit of 3.1 million won for the last three months. Under the revised system, they would be eligible for 15.5 million won, applying the monthly limit over the five months.The loan limit for employers seeking to settle unpaid wages will also be increased. The limit for general loans per employer will rise from 150 million won to 200 million won, and the support limit per worker will increase from 15 million won to 20 million won.A special loan program has also been introduced for employers who have experienced large-scale wage arrears exceeding 200 million won in the last three months. If the employer provides real estate as collateral worth at least 120% of the loan amount requested, they can borrow up to 1 billion won. However, they must meet the requirement that three years have passed since the last special loan confirmation notice was received.The loan funds will be deposited directly into the personal accounts of the affected workers, bypassing the employers. The interest rates are set at 2.2% for secured loans and 3.7% for credit and joint guarantee loans.Eligible businesses must be covered by industrial accident insurance and have been operating for at least six months. Businesses that are closed or have registered delinquency information are excluded from the loan program. Workers must have been continuously employed at the business for at least six months. Former employees are eligible if they worked for at least six months and left within one year prior to the loan confirmation application date.Minister of Employment and Labor Kim Young-hoon stated, "While we will respond sternly to employers who fail to pay wages, we have expanded the bankruptcy compensation fund and the loan program for settling wage arrears to protect affected workers. We will strengthen government support to help restore the disrupted lives of unpaid workers as quickly as possible."* This article has been translated by AI. 2026-08-19 12:04:20
  • Health Ministry to Transfer National University Hospitals on August 20
    Health Ministry to Transfer National University Hospitals on August 20 Starting August 20, the oversight of national university hospitals and national university dental hospitals will shift from the Ministry of Education to the Ministry of Health and Welfare. The Health Ministry plans to designate national university hospitals as the 'final responsible entities' for regional healthcare, aiming to develop them into key hospitals for national balanced development through significant financial investment and regulatory relaxation.Transfer After 21 Years: Enhancing Critical and Essential Medical CapabilitiesThe Health Ministry announced on August 19 that the revised National University Hospital Installation Act and National University Dental Hospital Installation Act will take effect on the 20th, consolidating the oversight of these hospitals under the Health Ministry. This transfer, discussed since the Participatory Government era, marks a culmination of 21 years of efforts.With this transfer, the Health Ministry aims to comprehensively enhance the four main functions of national university hospitals: clinical services, research, education, and public policy, positioning them as key hospitals for national balanced development.In the clinical sector, the ministry plans to significantly increase the capacity for critical and essential medical care by securing essential medical personnel and expanding compensation for long-term staff. Specifically, it intends to focus on recruiting over 460 core faculty members in high-demand specialties such as obstetrics, pediatrics, and thoracic surgery over the next four years. This targeted support will consider the medical needs of the '5 regions and 3 specialties' and the strengths of individual hospitals, ensuring that local residents can receive top-tier treatment without traveling to the capital region.Building Research and Education Networks and Strengthening Public Policy RoleThere will also be substantial investments in infrastructure to enhance research capabilities. The ministry plans to connect clinical data across all national university hospitals and the National Cancer Center, aiming to establish a data system comparable to that of large hospitals in the capital region. This will facilitate participation in the development of new drugs and advanced treatment technologies, supporting specialized R&D linked to regional strategic industries such as biotechnology and AI, thereby fostering a local innovation ecosystem.Furthermore, the educational infrastructure for training future medical professionals will undergo significant improvements. A 'Clinical Training Center' will be established at all national university hospitals to provide advanced procedural training based on simulation practice, and a new 'Regional Physician Support Center' will be created to systematically support all stages from students to specialists.The role of national university hospitals as a public policy 'control tower' for coordinating local medical services will also be strengthened. The Health Ministry plans to enhance dedicated organizational staffing and elevate the position of national university hospital directors to co-chair the essential medical committee at the city and provincial levels, entrusting them with a central role in addressing local essential medical issues.Removing Constraints for Growth: Moving to Dissolve Other Public Institution DesignationsInstitutional support will also be initiated. To flexibly secure excellent medical personnel and maximize hospital operational autonomy, the ministry will proactively pursue the 'dissolution of other public institution designations' in consultation with relevant departments.To efficiently oversee this initiative, the Health Ministry established the 'National University Hospital Policy Division' on July 21, which will be responsible for developing long-term strategies and comprehensively promoting financial investments and institutional improvements to enhance clinical, research, education, and public policy functions.Lee Hyung-hoon, the Second Vice Minister of Health and Welfare, emphasized, 'This transfer is not merely a change in the managing department of national university hospitals; it marks a new starting point for the Health Ministry, a specialized health and medical department, to properly develop national university hospitals as key institutions for the 5 regions and 3 specialties.' The government also pledged to responsibly support national university hospitals in their role as the final care providers for critical and essential medical services, nurturing excellent medical professionals and leading future medical technologies.* This article has been translated by AI. 2026-08-19 12:04:20