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Debate Grows Over Charges of Rebellion Against Yoon Suk Yeol The Comprehensive Special Prosecutor's team, led by Kwon Chang-young, is reportedly leaning towards not prosecuting former President Yoon Suk Yeol and others for rebellion related to the December 3 emergency martial law. However, legal experts are arguing that rebellion charges should be applied separately. They contend that if the martial law forces deviated from or incapacitated the normal military command structure, it constitutes a distinct violation of legal interests separate from insurrection.According to legal sources on August 18, the Comprehensive Special Prosecutor's team investigated the rebellion allegations against former President Yoon but is likely to decide against prosecution. This is attributed to the overlap of insurrection charges and protected legal interests, as well as the difficulty of establishing rebellion under existing Supreme Court precedents.Previously, the Insurrection Special Prosecutor's team, led by Jo Eun-seok, maintained that it is challenging to apply rebellion charges separately. They view the emergency martial law, led by former President Yoon, as encompassing specific actions such as bypassing the command structure, which fall under the charges of insurrection leadership and significant mission involvement."The court should determine the validity of charges through an amendment to the indictment"One of the key legal precedents is the Supreme Court's ruling on April 17, 1997, in case 96Do3376. The court defined rebellion under the Military Criminal Act as an act where multiple soldiers conspire to carry weapons and rebel against national sovereignty, determining that 'national sovereignty' includes military command and authority.However, the court also ruled that certain actions taken during the May 18 incident, which were conducted with the approval or tacit consent of the then-president, do not constitute rebellion. They concluded that troop movements approved by the military's highest commander cannot be viewed as rebellion against command authority.Conversely, interpretations have emerged suggesting that insurrection and rebellion protect different legal interests based on the same ruling. Article 87 of the Criminal Code punishes acts of rebellion aimed at disrupting the constitutional order. Additionally, Article 91(2) defines the coercive overthrow of state institutions established by the constitution as a disruption of the constitutional order.The 96Do3376 ruling stated that 'national sovereignty' in rebellion includes military command and authority. This has led to interpretations that violations of constitutional authority and deviations from the normal military command structure can be assessed separately.Attorney Kim Kyung-ho of the law firm Ho-in emphasized that the 96Do3376 ruling recognized rebellion as an act of defiance not only against military command but also against state institutions. He stated, "While the protected legal interests of insurrection and rebellion overlap to some extent, they do not necessarily align completely." He argued that defiance against state institutions may overlap with insurrection, but defiance against the military command structure can be evaluated as a separate legal violation.Attorney Kim also noted that even in cases where the protected legal interests of both crimes overlap, such as the deployment of armed forces to the National Assembly, this should not be immediately used as a basis for non-prosecution of rebellion charges. Given that the insurrection case involving former President Yoon is currently in the appeals process, he argued that the court should include rebellion allegations in the amended indictment and determine the validity of both charges and their relationship.The applicability of the 'presidential approval' legal principle from the 96Do3376 ruling to the December 3 emergency martial law is also a contentious issue.Attorney Byeon Byeong-sik of the law firm Ilro explained to Aju Economy that the constitutional military command authority is not a personal right of the president but 'national sovereignty regulated by the constitution and laws.' He stated, "Unconstitutional directives aimed at insurrection cannot be considered legitimate exercises of command authority."Attorney Byeon analyzed that insurrection aims to 'render the exercise of state authority impossible (constitutional order),' while rebellion protects 'the establishment of military command structure and internal military order (military sovereignty).' He added, "Actions that bypass or incapacitate the operational command line should be viewed as separate violations of the military command structure. If subordinate commanders independently conspired and executed actions that blocked or bypassed the regular command structure, at least the charge of significant mission involvement in rebellion should apply to them.""Multiple soldiers conspiring to carry weapons... Evidence can confirm orders"To substantiate these legal principles, facts have been reported to the special prosecutor's office. Kim Hyun-seok, who participated in military communication system development and technical support for 27 years, submitted evidence suggesting that some martial law forces intentionally turned off command and control equipment and moved under someone's orders.Kim's legal representative, attorney Ryu Jae-yul of the law firm Joonsim, stated, "We provided military materials that clearly indicate that the martial law forces intentionally turned off command and control equipment and moved under someone's orders on December 3." He argued that the decision to withdraw the rebellion charge should be reconsidered until the relevant facts are confirmed.He further stated, "If multiple soldiers conspired to carry weapons and instigate a rebellion, this would fall under the rebellion charge. If the materials submitted by Kim can confirm which soldiers received orders and to what extent, it appears that rebellion can be proven."There are also concerns that the president's directives regarding martial law and troop deployment are separate from whether he ordered or approved the blocking of command and control equipment and bypassing the normal command structure. If a specific military command line made independent decisions, it raises questions about whether the legal principle of 'presidential approval' from the 96Do3376 ruling can be applied directly.Article 9(2) of the Military Organization Act states that the Chairman of the Joint Chiefs of Staff shall command and supervise operational units tasked with combat under the orders of the Minister of National Defense. The Capital Defense Command and the Army Special Warfare Command are also included in the operational command under relevant laws. Whether these units operated through the normal command structure centered on the Chairman of the Joint Chiefs of Staff or through a separate command line during the emergency martial law is directly related to the determination of rebellion charges.Attorney Ryu emphasized, "The exercise of military command authority by the president during the December 3 martial law exceeded the limits set by the constitution and laws." He argued that the troop deployment and movement resulting from this constituted a distortion of the military command structure, qualifying as rebellion.The Supreme Court's ruling in case 66Do152, delivered on April 21, 1966, is also referenced in relation to this legal principle. The court determined that in a case of conspiracy to overthrow the government using military forces, the elements and protected legal interests of rebellion and crimes under the National Security Act at that time were different. Although this ruling did not directly address the relationship between insurrection and rebellion, it serves as an example of different protected legal interests arising from a single act.As a result, legal experts are urging the Comprehensive Special Prosecutor's team to clarify whether the martial law forces deviated from the command structure before making a decision on rebellion charges. Key issues include whether the failure to use command and control equipment was intentional, who issued any separate orders, and whether the normal command structure was actually excluded.* This article has been translated by AI. 2026-08-18 16:16:10
Chinese Stock Market Rises Amid Agricultural and Seed Stock Gains The Chinese stock market continued its upward trend on August 18, following gains from the previous day. Analysts attributed the afternoon buying momentum to easing concerns over liquidity. The Shanghai Composite Index closed up 0.19% at 3,990.30, while the Shenzhen Component Index fell 0.56% to 14,622.50, and the ChiNext Index dropped 0.93% to 3,705.56.Earlier in the day, the Chinese market showed weakness due to renewed risks in the Middle East. The 60-day ceasefire between the U.S. and Iran ended, and Iran's hardline stance pushed Brent crude oil prices above $91 per barrel, while the yield on 10-year U.S. Treasury bonds rose to 4.72%. Profit-taking from the previous day's gains also contributed to the morning decline.However, the market gained traction in the afternoon as news emerged that the margin balance for borrowing had increased. According to an analysis by Dongfang Zhiyuan, the margin balance rose by 70 billion yuan in August, indicating a recovery in investor sentiment. Funds viewing the morning dip as a buying opportunity flooded into the market, leading to a successful rebound. The China Securities Journal reported that state-owned high-dividend ETFs rose, along with shares of banks known for their high dividend payouts.CITIC Securities noted, "The market was generally in an oversold phase earlier this month, and there is a consensus that it has entered a rebound phase. As market liquidity recovers, the oversold phase is expected to transition into a normal equilibrium phase."Notably, agricultural and seed stocks performed well, with companies like Jin Jian Mi Ye, Nong Fa Zhong Ye, and Wan Xiang De Nong hitting their daily price limits. A report from JP Morgan indicated that geopolitical tensions in the Strait of Hormuz and the occurrence of a super El Niño are expected to drive up fertilizer and grain prices. The global food price inflation rate was recorded at 2.8% in the first half of this year and is projected to rise to 5% in the first half of next year.Pork-related stocks also saw gains, with Luo Niu Shan and Tian Bang Shi Pin reaching their daily limits. Data from the Ministry of Agriculture and Rural Affairs of China indicated that the average wholesale price of pork rose to 16.03 yuan per kilogram on August 17, a 1.6% increase from the previous Friday. This marked a notable recovery in pork prices, which had been on a downward trend, boosting the stock prices of pig farming companies.Meanwhile, the People's Bank of China set the yuan's central parity rate against the dollar at 6.7905 yuan, an increase of 0.0032 yuan from the previous day, reflecting a 0.05% rise in the value of the yuan.* This article has been translated by AI. 2026-08-18 16:16:00
Despite Declining Student Numbers, Education Funding Automatically Increases Although the school-age population is rapidly declining, local education funding continues to automatically increase in line with national tax revenue, prompting a national research institute to call for a review of the education finance distribution system.According to a report from the Korea Institute of Public Finance on the restructuring of local education funding in the era of declining school-age populations, the current system allocates 20.79% of the total national tax revenue, excluding funds for fire safety, plus a portion of the education tax to local education offices. As tax revenues grow due to economic expansion, funding increases regardless of actual educational demand.In contrast, the school-age population has been steadily decreasing. The report indicates that the number of elementary and middle school students dropped from about 10.04 million in 1980 to approximately 5.55 million in 2025. Despite this nearly 50% reduction in student numbers, funding linked to national tax revenue has increased, resulting in a rise in per-student funding. The Korea Institute of Public Finance warns that this structure could exacerbate the mismatch between actual educational demand and financial resources.Concerns have also been raised regarding the utilization of these funds. While the basic costs necessary for school operations have decreased due to the declining student population, the automatically linked funding continues to rise. Consequently, some education offices have been observed directing resources toward cash-based welfare programs or short-term projects that are less directly related to education.Investment disparities across educational stages have also been highlighted as a reason for discussing funding reform. According to the Organization for Economic Cooperation and Development (OECD), as of 2021, South Korea's public education expenditure per student for elementary and secondary education was approximately $16,700, which is 133% of the OECD average of $12,600. In contrast, higher education funding per student was about $13,500, only 75% of the OECD average of $18,100. This indicates a structure where more resources are allocated to elementary and secondary education compared to higher education.The Korea Institute of Public Finance examined whether public perception of this structure changes when relevant information is provided. In an online survey experiment conducted in October 2024 with 3,066 adults nationwide, groups that received information on efficiency, international comparisons, and opportunity costs preferred a lower proportion of the education budget by 2.2 to 2.7 percentage points compared to a control group. Among those who received comparative budget information, the percentage of respondents who deemed current education spending excessive increased from about 25% to 35%.However, the researchers noted that since the measurement was taken immediately after the survey, it is limited in determining actual policy acceptance or long-term attitude changes.The Korea Institute of Public Finance suggested that rather than merely changing the funding calculation formula, a mechanism for regular review should be established. This would involve creating a non-permanent review committee with participation from the central government, education offices, academia, civil society, and teacher organizations to assess the appropriateness of funding rates, formulas, and weights every three to five years.Lee Kyung-hoon, a deputy researcher at the Korea Institute of Public Finance, emphasized, "If the review results are published as a public report and the National Assembly and relevant ministries record their acceptance and reasons, it will enhance the transparency and accountability of the system reform."* This article has been translated by AI. 2026-08-18 16:16:00
Moody's raises growth forecast for South Korea, putting BOK in dilemma over rate hike SEOUL, August 18 (AJP) - Global ratings agency Moody's raised its growth forecast for South Korea to 3.5 percent in a report published last week. The stronger outlook could support another interest rate hike, although strong exports and already high borrowing costs may reduce the need for the Bank of Korea to raise rates again soon. The forecast also put South Korea's growth at 2.7 percent for next year. The 2026 forecast was 1 percentage point higher than Moody's 2.5 percent estimate in May and 1.7 percentage points higher than its 1.8 percent forecast in February. The latest estimate exceeds the South Korean government's 3 percent projection and the 3.2 percent average among eight major investment banks compiled by the Korea Center for International Finance as of the end of July. Moody's said the revision was largely driven by stronger demand for advanced memory chips as global investment in artificial intelligence (AI) grows. It expects the chip upcycle to remain strong until at least mid-2027, as South Korean suppliers face limited competition from alternative sources. However, the report did not change South Korea’s credit rating or signal an imminent rating change. The higher forecast does not mean the recovery is spreading evenly throughout the economy, as retail sales fell 1.7 percent in the second quarter before rebounding 2.7 percent in June and growth remains heavily concentrated in semiconductor exports and related investment. Headline consumer inflation slowed to 2.8 percent in July from 3.2 percent in June, but core inflation — which excludes volatile food and energy prices to show the underlying trend — edged up to 2.6 percent from 2.5 percent, while household credit and housing prices remain financial-stability arguments for further tightening. The Bank of Korea raised its base rate by 25 basis points to 2.75 percent on July 16, its first increase in three and a half years, and will decide on Aug. 27 whether to raise it for a second consecutive meeting. At around 2 p.m. Tuesday, the three-year Korean government bond yield was up 6.6 basis points at 3.862 percent and the 10-year yield was 10.3 basis points higher at 4.416 percent, with one basis point equal to 0.01 percentage point. Traders call the larger increase in the 10-year yield a bear-steepening of the curve, with the three-year yield responding more closely to expectations for the BOK's policy rate and the 10-year also reflecting longer-term growth, inflation, government bond supply and investor demand. The larger move in the 10-year yield reflected both higher U.S. long-term rates and supply pressure from Tuesday's 3 trillion won auction of 10-year Korean government debt, but the rise in the policy-sensitive three-year yield indicates that markets have not dismissed the possibility of an August increase. Official U.S. Treasury data put the 10-year yield 4 basis points higher at 4.72 percent and the 30-year up 6 basis points at 5.31 percent on Monday, before the 30-year cash-market yield reached 5.321 percent in Asian trading, its highest since June 2007, while the inflation-adjusted 30-year rate rose to 3.06 percent. Heavy borrowing by the U.S. government and AI companies has added to the pressure because issuers generally have to offer higher returns when bond supply grows faster than investor demand, pushing down the prices of existing bonds and raising their yields. The expiry of a 60-day U.S.-Iran ceasefire and uncertainty over the Strait of Hormuz also pushed Brent crude above $91 a barrel, preserving the risk that more expensive energy could feed into Korean inflation. South Korean government bond yields serve as reference rates for corporate debt and bank funding, meaning that persistently high yields can increase the cost of issuing corporate bonds and eventually lift rates on business loans, mortgages and other household borrowing. More expensive credit can discourage companies from investing and households from spending, producing an effect similar to a BOK rate increase even if the central bank leaves its policy rate unchanged. A weaker won can make imported oil, raw materials and food more expensive in local-currency terms, but the currency strengthened by 2.09 won to 1,413.39 per dollar on Tuesday, showing that higher U.S. yields had not yet generated additional imported-inflation pressure through the exchange rate. "Bond markets have already strongly reflected the shift in monetary policy, reducing the need for additional hawkish guidance," said Ahn Jae-kyun, an economist at Korea Investment & Securities. Ahn nevertheless maintained an August rate increase as his base case on Aug. 4, while estimating that markets were still assigning a probability of more than 50 percent to another move. Moody's growth revision, firmer core inflation and financial-stability risks support another increase, while the export-heavy recovery, higher market borrowing costs and a stronger won give the BOK reasons to assess the effects of its previous move before raising rates again. The Aug. 27 decision therefore remains open between another increase and a "hawkish hold," meaning that the BOK could leave rates unchanged while signaling that further tightening remains possible if oil, core inflation, the won or household credit deteriorates. AJP Takeaways • Moody's raised South Korea’s 2026 growth forecast to 3.5 percent in an Aug. 13 periodic review, up from 2.5 percent on May 11 and 1.8 percent on Feb. 12. • Higher government bond yields can raise corporate and household borrowing costs, partly tightening the economy even without another immediate BOK rate increase. • The BOK's Aug. 27 decision remains open because a stronger won reduces imported-inflation pressure, while core inflation, oil, housing and household credit continue to support a hawkish stance. 2026-08-18 16:10:11
Damyang Seniors Create Their Own Film Seniors in Damyang County are making their own film, drawing attention.The Damyang Cultural Foundation in Gwangju announced on August 18 that it will run a senior arts education program called 'Damyang Love Youth' from August 25 to November 3.This program allows participants aged 65 and older to use video media to document their lives and stories from their communities.It will be held every Tuesday over a total of 10 sessions.At the Bongsan Cultural Rest Area, seniors will participate in the entire filmmaking process, including planning, shooting, and editing, as they explore stories set in their village, such as 'Bongsan Detective Agency' and 'Wish-Granting Mailbox.'In Daedeok Unsu-dong, they will create a mini-documentary titled 'The Daedeok I Loved,' capturing the village's scenery and the lives of its residents, and will use artificial intelligence to design a movie poster.After the films are produced, a screening will be held at the Dambit Cinema in Damyang-eup.The event will showcase a making film of the production process and include a discussion with the audience.The Damyang Cultural Foundation stated that seniors will have a unique experience challenging themselves with new video media while leaving a creative legacy of their stories and their community.* This article has been translated by AI. 2026-08-18 16:08:00
High Demand for 3rd New Town Housing in Goyang Raises Questions About Future Supply Thousands of applicants flocked to the main application for the 3rd New Town housing, confirming the strong demand from prospective homeowners in the metropolitan area despite rising prices and some pre-application winners opting out. The challenge now lies in the next steps, as there are currently no specific dates set for additional public housing applications following the Goyang Changneung S-3 and S-4 blocks.According to the Korea Land and Housing Corporation (LH), the winners for the Goyang Changneung S-3 block were announced on August 18, while the S-4 block winners will be revealed on August 19. The S-3 block consists of 1,282 shared profit housing units, with an average competition rate of 23.1 to 1. The S-4 block, which offers 1,024 general public housing units, saw an average competition rate of 63 to 1.Despite some pre-application winners dropping out, new demand surged, leading to successful outcomes. In the case of S-3, 626 out of 880 pre-application winners participated in the main application, resulting in a conversion rate of 71.1%. For S-4, 533 out of 779 pre-application winners took part, achieving a conversion rate of 68.4%.Contracts for S-3 will take place from November 26 to December 1, while S-4 contracts are scheduled for November 16 to 19.A similar trend was observed in the previously supplied Namyangju Wangseok 2 area. The A-3 block attracted 20,671 applicants for 163 general supply units, resulting in a competition rate of 126.8 to 1. The A-1 block saw 23,525 applicants for 223 units, achieving a rate of 105.5 to 1. In total, approximately 44,000 applicants vied for just 386 general supply units across both blocks.Notably, the A-3 block's 59㎡A units had a staggering competition rate of 433.3 to 1, with 6,066 applicants for just 14 units. The Goyang Changneung S-1 block also recorded a competition rate of 61.2 to 1, with 11,135 applicants for 182 general supply units.Although the selling prices have risen beyond initial expectations during the pre-application phase, the strong demand remains concentrated around public land with relatively good access to Seoul.An industry insider noted, “While high application competition rates are promising, whether they translate into actual contracts is a separate issue, especially given the rapidly changing government real estate policies and the increased costs of financing.”Attention now turns to future supply. The government aims to start construction on over 50,000 units in public land across the metropolitan area this year, including the 3rd New Towns, and plans to offer 29,000 units for sale. The goal is to reduce conflicts over permits for public land and accelerate project timelines to increase supply.In particular, the second half of the year is expected to see a significant increase in the scale of public housing projects involving private participation, led by LH. The selection of private developers for approximately 25 blocks, totaling 17,156 units, has been completed, and subsequent procedures such as permitting are currently underway.According to an LH official, “The strength of private participation projects lies in combining the advantages of public and private sectors to quickly provide high-quality public housing to the public. We will ensure that all remaining projects proceed smoothly through necessary procedures to meet our annual construction plans.”* This article has been translated by AI. 2026-08-18 16:08:00
Na Kyung-kyun Announces Second Supply of Saemangeum Smart Waterfront City Next Month Saemangeum Development Corporation will supply 45 plots of single-family housing land in the Saemangeum 'Smart Waterfront City' next month. Following a successful first sale last year, which sold out within a month, the corporation aims to accelerate the development of residential conditions in the waterfront city through this second offering.The corporation plans to invest 826 billion won in the establishment of foreign educational institutions, with the goal of opening by 2030. Additionally, in line with Hyundai Motor Group's investment plans, the corporation will begin supplying apartment land starting in 2027. There are also plans to attract a complex resort that includes accommodation, shopping, and MICE (Meetings, Incentives, Conferences, and Exhibitions) functions, along with the introduction of AI-based public transportation and medical services, to develop the area into a 'residential and tourist city' supported by an industrial complex.Na Kyung-kyun, president of Saemangeum Development Corporation, stated during a press conference with the Ministry of Land, Infrastructure and Transport's press corps in Sejong City on August 18, "Last year, all 69 plots in the waterfront city were sold within a month of the announcement. We are preparing for the second sale in September."The upcoming supply will consist of 45 plots located in areas 1, 16, and 17 of the waterfront city, covering a total of 23,505 square meters. This includes 35 plots of residential-only land measuring 18,763 square meters and 10 plots of mixed-use land measuring 4,742 square meters, where both housing and commercial buildings can be constructed.Unlike last year's lottery-based distribution of residential-only plots, this year's 45 plots are expected to be offered through competitive bidding.The corporation submitted a supply plan approval request to the Saemangeum Development Agency at the end of last month and has commissioned an appraisal. Once the permits and appraisal are completed, the exact supply prices and schedule will be finalized and announced.Last year's supply prices for residential-only plots were set between 1.92 million and 2.04 million won per 3.3 square meters, totaling 11.93 billion won, with an average price of about 1.94 million won per 3.3 square meters. The land for neighborhood facilities was awarded through competitive bidding at approximately 2.42 million won per 3.3 square meters.Jang Jae-hyung, head of the sales planning team at Saemangeum Development Corporation, noted, "Interest in the market has increased following Hyundai Motor Group's investment announcement. Since all plots will be offered through competitive bidding this year, we expect the starting bid price to be about 10% higher than last year."Through this second sale, the corporation aims to solidify the waterfront city's position in the market and will actively work on establishing essential residential infrastructure, including education, medical, and transportation facilities. As Hyundai Motor Group's Saemangeum project materializes, the corporation will push for the substantial supply of apartment and commercial land starting in 2027.Hyundai Motor Group has reportedly communicated to the corporation the need to quickly establish residential conditions, including housing facilities, in line with its investment project. The corporation currently has a dedicated department for apartment housing and is discussing future supply plans with the Saemangeum Development Agency.One of the corporation's key projects in developing residential infrastructure is attracting foreign educational institutions. The plan aims to create an educational environment for the children of foreign company employees and those returning from overseas work, enhancing the competitiveness of attracting businesses.The corporation has secured 826 billion won for the construction of foreign educational institutions and is in discussions with overseas school corporations to achieve the goal of opening by 2030.Na stated, "There are several overseas school corporations showing interest, and we have secured the construction cost of 826 billion won. Given the current situation, opening by 2030 is entirely feasible, and we will ensure we meet this goal."Additionally, the corporation plans to collaborate with local governments and universities to establish transportation and medical infrastructure. In the transportation sector, discussions are underway with Gimje City to enhance public transportation convenience using AI and information communication technology. The corporation is also accelerating the introduction of medical services in partnership with Wonkwang University and others.The corporation is also considering the development of a complex resort to enhance the tourism and cultural functions of the waterfront city. The plan includes securing approximately 150,000 pyeong of leading complex development land within the waterfront city to attract tourism facilities that combine accommodation, shopping, and MICE.Na emphasized, "The complex resort is essential as an anchor facility to drive the tourism and leisure functions of the Saemangeum project. We are discussing the feasibility of the project with domestic and international companies." He added, "Saemangeum should become a vibrant city that thrives not only in advanced industries but also in culture, arts, tourism, leisure, and sports. We will accelerate the creation of a city where businesses and people can settle together through this second sale."* This article has been translated by AI. 2026-08-18 16:08:00
Gwangmyeong Mayor Park Seung-won Prioritizes Citizen Safety in 2026 Eulji Exercise Park Seung-won, the mayor of Gwangmyeong, emphasized on August 18 that "the safety of citizens is the top priority" in relation to the 2026 Eulji exercise. During a situation report meeting held at the city hall's emergency management facility, Mayor Park stated, "We will thoroughly review and enhance our response system to ensure that this exercise can effectively protect citizens in real crisis situations." This year's training focuses on improving response capabilities to complex crisis situations, including drone attacks, reflecting the changing security environment. It aims to ensure that collaboration among military, police, and fire departments can be activated swiftly in actual emergencies. Mayor Park noted that over 520 participants from eight agencies and facilities, including the 2nd Battalion of the 167th Infantry Brigade, the Southern Gyeonggi Police Agency, Gwangmyeong Police Station, Gwangmyeong Fire Station, and the Gwangmyeong Education Support Office, will take part in this Eulji exercise. Notably, this year’s training will utilize schools and large supermarkets that citizens actually use, moving away from a focus solely on administrative agencies to enhance on-site response capabilities. On August 18, the exercise will begin with an emergency assembly of public officials to confirm the wartime organizational structure and review departmental duties and administrative evacuation procedures. On August 19, discussions will focus on city-level response strategies and the roles of various agencies in the event of a simulated drone attack. On August 20, an evacuation drill will take place at the E-Mart Gwangmyeong Sohwa branch to prepare for airstrike scenarios. More than 100 participants, including customers, employees, and civil defense members, will learn the procedures for quickly evacuating during an airstrike and will also conduct a "road clearing drill" to facilitate the passage of emergency vehicles. On the same day, Gwangmyeong Middle School will host a practical joint training exercise using actual drones. In this drill, military, police, and fire departments will respond collectively to scenarios involving drone attacks and armed intrusions, comprehensively reviewing response procedures from incident occurrence to on-site control and life protection. Citizens are particularly interested in this Eulji exercise, as it is not limited to internal administrative training but takes place in spaces that the public actually uses, such as schools and large supermarkets. The practical training, reflecting recent security concerns such as drone attacks and armed intrusions, is expected to provide citizens with a clear understanding of how to act in emergency situations. Residents believe that actively participating in drills at multi-use facilities like supermarkets, rather than just observing, will enhance the effectiveness of learning evacuation routes and emergency vehicle protocols. Meanwhile, Mayor Park Seung-won added, "We will work closely with relevant agencies to develop the capability to respond swiftly in any situation."* This article has been translated by AI. 2026-08-18 16:04:00
Labor Ministry Initiates Discussions on Implementing ILO Platform Labor Convention The government is set to begin discussions on revising laws and regulations to implement the International Labour Organization (ILO) Platform Labor Convention in a manner suited to domestic realities.On August 18, the Ministry of Employment and Labor held a forum titled 'The Significance of the ILO Platform Labor Convention and Future Tasks' at the Bank Hall in Seoul. The forum aimed to explore the implications of the 'Convention on Quality Jobs in the Platform Economy,' adopted by the ILO in June, and to discuss policy directions for protecting workers in a changing labor environment influenced by artificial intelligence (AI) and the expansion of the platform economy.During the forum, Namgung Jun, a researcher at the Korea Labor Institute, highlighted that the establishment of independent international labor standards to protect platform workers is a key aspect of the convention. He stated, 'Since the convention allows for flexibility to consider the labor market and institutional situations of each country, we need to establish specific protection measures through the revision of laws and regulations that fit our domestic circumstances.'Professor Park Gwi-cheon from Ewha Womans University assessed that existing laws have limitations in encompassing new forms of labor. He suggested, 'We need to establish a basic framework to protect the rights of various labor providers, including platform workers, through the 'Basic Law on Workers' Rights.' He also noted that continuously improving individual laws and regulations in line with the convention's provisions, such as expanding social insurance coverage, is a practical approach.The discussion was moderated by Jeong Heung-jun, a professor at Seoul National University of Science and Technology, and included labor law and social policy experts, as well as field representatives, who deliberated on institutional improvements for the protection of platform workers. Participants expressed agreement that platform workers are often left in the gaps of social safety nets and discussed ways to effectively implement the ILO convention's intent within domestic conditions.Minister of Labor Kim Young-hoon emphasized, 'Throughout history, there have always been individuals in labor rights blind spots, from child laborers during the industrial era to atypical workers in the era of transformation.' He stressed, 'In this era of transformation, the first thing we must focus on is ultimately the people.'He added, 'To move toward a society where all workers are respected, we will seek opinions on what measures are suitable for the current and future labor market while respecting the spirit of the ILO Platform Convention. We will ensure that no one is excluded from basic rights due to different forms of labor and will faithfully reflect the discussed opinions in our policies to create a society where all workers are respected.'* This article has been translated by AI. 2026-08-18 16:00:20
Homeplus Reports 43.7 Billion Won in Sales After Reopening 홈플러스 has generated 43.7 billion won in sales over five days since reopening 67 stores nationwide. This figure represents a nearly threefold increase compared to sales prior to the temporary closure. According to Homeplus, sales from August 13 to 17, during the 'Home Is Back' event, totaled 43.7 billion won, marking a 191% increase from the 15 billion won recorded from July 2 to 6, before the sales suspension. Average daily sales rose from 3 billion won to 8.7 billion won during this period. The average number of customers also increased by approximately 73.4%, from 138,200 to 239,600. Homeplus emphasizes that the sustained sales flow over the five days following the reopening is significant, rather than just a spike on specific days. While the company acknowledges that it is too early to determine normalization based solely on short-term results, the rapid recovery in customer numbers and sales is seen as a positive sign. The company had suspended operations at its 67 key stores on July 13 due to a depletion of operating funds but reopened after securing emergency financing this month. On August 5, the Seoul Bankruptcy Court approved a 200 billion won emergency operating fund loan supported by Meritz Financial Group. Based on this funding, Homeplus restored its product supply and logistics network, officially reopening the temporarily closed stores on August 13. Of these, 59 stores also resumed online operations. The initial recovery in sales is expected to be an important indicator in the ongoing rehabilitation process. Homeplus must demonstrate to creditors and the court that it can generate cash flow while continuing operations. The court recently canceled its decision to terminate the rehabilitation process for Homeplus and extended the deadline for approving the rehabilitation plan to September 4. Given that the rehabilitation process began in March of last year, September 4 is the legally permitted final deadline. With creditor hearings and voting procedures still pending regarding the rehabilitation plan, the key question remains whether the sales rebound will lead to sustainable operational normalization. A Homeplus representative stated, "In the five days since reopening, we have once again confirmed customer interest and expectations for Homeplus. We will leverage this momentum as a valuable driving force for operational normalization, continuously enhancing our product competitiveness, pricing, and customer service until we fully regain customer trust." 2026-08-18 16:00:00