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Half of New GS25 Franchise Owners Are Seniors as Support for Senior Entrepreneurs Grows GS25 has reported that the proportion of franchise owners aged 50 to 60 has surpassed 50% for the first time. To address the growing demand for senior entrepreneurship, GS25 is launching a hands-on program that allows prospective franchisees to experience actual store operations before signing contracts. GS Retail, which operates GS25, announced on August 18 that it has established the 'Active Senior Entrepreneurship Experience Program' aimed at prospective franchisees aged 50 to 60. This new initiative combines store visits, real operational experiences, and personalized one-on-one consultations, moving beyond the traditional franchise information sessions. The introduction of this program is in response to the rapidly increasing demand for senior entrepreneurship. The proportion of new GS25 franchise owners aged 50 to 60 rose from 44.6% in 2023 to 50.1% in the first half of this year. Similarly, the share of prospective franchisees in this age group increased from 44% to 48.5% during the same period. Analysts suggest that the low barriers to entry and the potential for stable income from convenience store ownership are becoming more appealing as society ages. The convenience store industry is increasingly expanding business models targeting the 50 to 60 age group. Competitor BGF Retail, which operates CU, has previously launched a 'Senior Mobile Convenience Store' to enhance accessibility for older consumers in underserved areas. The newly established Active Senior Entrepreneurship Experience Program will be conducted monthly from August 21 to December, totaling four sessions. The program is open to individuals aged 55 to 69 (born between 1957 and 1971), with approximately 20 participants per session. Interested individuals can apply on a first-come, first-served basis through the GS Retail official website. Participants will gain hands-on experience in tasks such as product display, store management, and using POS systems, followed by personalized entrepreneurship consultations tailored to their situations. GS25 has designed the program based on feedback from existing senior franchise owners, focusing on essential operational tasks needed after starting a business. Those who complete the program and sign a franchise agreement within a year will receive a discount of 1 million won on the franchise fee. Additionally, senior franchisees preparing to open new stores will receive online training and a digital terminology guidebook. Park Joo-hyun, manager of the GS25 Development Planning Team, stated, "The Active Senior Entrepreneurship Experience Program is designed to help those aged 50 to 60 gain real store operation experience and choose a suitable business model. We will continue to strengthen our tailored support systems considering the entrepreneurial needs of different age groups."* This article has been translated by AI. 2026-08-18 15:32:00 -
SHINee's Minho to release new album next month SEOUL, August 18 (AJP) - K-pop boy group SHINee's Minho will return with his second mini album next month, marking his first Korean-language release in nine months, SM Entertainment said on Tuesday. The six track album, "Make It Hot," is slated for release on Sept. 7 and includes a title track of the same name. It will also be released on major music platforms that day. Pre-orders for the physical album opened Tuesday through online and offline retailers. It follows "TEMPO," released in December 2025, and a Japan-only digital single, "Sunkissed" and "Flawless," out in February 2026. SM described the album as combining Minho's energetic image with a more emotional side. Minho has continued individual activities alongside SHINee, appearing on television programs and in advertising campaigns. He has also been running his YouTube channel, "Choi Min-ho," where he shares fitness and daily-life content. AJP Takeaways: · SHINee's Minho will release his second mini album on Sept. 7. · The album, "Make it hot," contains six tracks including a title song of the same name. · It marks his first solo release in nine months since "TEMPO," released in December 2025. 2026-08-18 15:30:20 -
Chinese FM set to visit Seoul for talks this week SEOUL, August 18 (AJP) - China's Foreign Minister Wang Yi is set to visit Seoul this week, the Ministry of Foreign Affairs said on Tuesday. At a regular press briefing, the ministry's spokesperson Park Doo Soon said Wang is scheduled to arrive in Seoul on Wednesday for a two-day visit and hold talks with his South Korean counterpart Cho Hyun. Their talks are expected to cover various issues including bilateral ties, the situation on the Korean Peninsula, and other regional matters. It will be Wang's first visit to South Korea since September 2021 and the first foreign ministers' meeting between the two countries since their talks in Beijing in September last year, about 11 months ago. Park said the visit will provide an opportunity to review progress ahead of the upcoming Asia-Pacific Economic Cooperation summit in Shenzhen, China in November, and to step up preparations for future cooperation and high-level exchanges. Wang is also scheduled to meet with President Lee Jae Myung at Cheong Wa Dae on Thursday. AJP Takeaways: - Chinese Foreign Minister Wang Yi is scheduled to visit Seoul from Wednesday to Thursday, the South Korean Ministry of Foreign Affairs said Tuesday. - Wang Yi will meet with South Korean Foreign Minister Cho Hyun to discuss bilateral ties, the situation on the Korean Peninsula and other regional issues. - The visit will be Wang Yi’s first trip to South Korea since September 2021 and the first South Korea China foreign ministers’ meeting since their talks in Beijing in September 2025. - The talks are expected to help prepare for the Asia Pacific Economic Cooperation summit in Shenzhen, China, in November, while also reviewing progress in improving bilateral relations and planning future cooperation. - Wang Yi is scheduled to meet South Korean President Lee Jae Myung at Cheong Wa Dae on Thursday, adding a high level meeting to his two day visit. 2026-08-18 15:21:20 -
Kim Yong-min: Prosecutorial Reform Must Be Completed Kim Yong-min, a member of the Democratic Party, stated on August 18 that "prosecutorial reform must be completed."In a Facebook post, Kim said, "The mid-term resignation of a key minister in prosecutorial reform does not help realize the government's reform intentions. Even if it is difficult, we must see it through to the end."This statement follows reports that Minister of Justice Jung Sung-ho submitted his resignation earlier that day. Allegations regarding Jung's intention to resign have surfaced multiple times in the past. However, the Blue House has stated, "We cannot confirm matters related to personnel." Meanwhile, Jung has expressed concerns regarding the abolition of supplementary investigative powers during the prosecutorial reform process. He has also claimed that since much of the reform has already been completed, another minister could carry out the duties without disruption.However, within the Democratic Party, there are calls for Jung to complete the prosecutorial reform. Notably, during a National Assembly Legislation and Judiciary Committee meeting on July 27, Jung mentioned, "My health has not been very good recently. I have experienced significant sleep disturbances for several months and have other personal issues, so I have discussed this with people close to the president." In response, Park Ji-won, the party's oldest member, admonished him, saying, "Your health can hold out until the end of the year. Even if you die, you need to have the mindset to ensure the president's success. Please see this through to the end."* This article has been translated by AI. 2026-08-18 15:20:00
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Changwon to Host First 'Lovers' Day' at Rose Park Changwon City is set to hold its inaugural 'Lovers' Day' event at Rose Park on August 19, coinciding with the lunar festival Chilseok, in an effort to boost local commerce at the nearby Gaeumjeong Market.The event will take place from 6 p.m. to 9 p.m. at Rose Park in Seongsan District, according to an announcement made on August 18.This initiative aims to modernize the significance of Chilseok and encourage visitors to utilize Gaeumjeong Market.On the day of the event, cultural performances will kick off the festivities, followed by a flea market featuring local artists and residents. There will also be interactive booths themed around Chilseok, including a telepathy game and a couple's challenge, designed for couples and families.'Lovers' Day' is part of a cultural tourism market development project that Gaeumjeong Market was selected for earlier this year. This project, which spans two years with a budget of up to 1 billion won, has allocated 400 million won for this year. It includes eight initiatives such as night markets, children's shopping events, and merchant training. Approximately 21.65 million won has been invested in the 'Lovers' Day' event.After the event concludes at 9 p.m., around 40 shops, primarily restaurants and bars in Gaeumjeong Market, will remain open to encourage visitors to explore the market.However, there are no specific programs linking Rose Park and Gaeumjeong Market directly. Although the two locations are about a 10-minute walk apart, the event does not include programs like stamp tours or market discount coupons to draw visitors to the market.Participation from market vendors at the event has also been limited. Many of the over 160 shops in Gaeumjeong Market are operated by individual owners, making it difficult for them to leave their businesses. Only two or three shops, such as dried fish vendors, are expected to participate in the flea market.The city plans to review the results of this year's event to consider future locations and methods for linking the event with the market. A city official stated, “This year, we chose the venue considering the atmosphere of Rose Park. Starting next year, we are discussing the possibility of holding the event within the market to align with the goal of revitalizing the local economy.”Cho Sung-hwan, head of the Economic and Job Department of Changwon City, remarked, “We will work to encourage visitors to stay longer and spend more, thereby helping to revitalize the local economy.”* This article has been translated by AI. 2026-08-18 15:20:00
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Seoul expects Trump message to lead to talks with Pyongyang SEOUL, August 18 (AJP) - South Korea expects President Donald Trump's outreach to Kim Jong Un to produce meaningful talks between Washington and Pyongyang, the foreign ministry said Tuesday. The Ministry of Foreign Affairs did not disclose whether Seoul had been told in advance that the North Korean leader had replied. Foreign ministry spokesperson Park Doo-soon said the two allies had consistently declared themselves open to dialogue with North Korea and were maintaining close communication on North Korea policy, including efforts to restart talks. "The government expects President Trump's message to lead to meaningful North Korea-U.S. dialogue," Park said at a regular briefing. "We will continue the necessary diplomatic efforts under close South Korea-U.S. coordination." Trump said Monday (local time) at the White House that Kim had answered him. He said the exchanges were "very positive" and gave no further detail, then praised the relationship, saying Kim had always treated him with respect and that the two men understood each other. The remarks came a day after a Truth Social post in which Trump said he had instructed Defense Secretary Pete Hegseth to "substantially reduce" the annual combined exercises with South Korea. He wrote that the drills were costly and sent a signal that was "totally inappropriate and hostile" to a country he described as unthreatening and respectful throughout his presidency, and that it was "too late to cancel" them outright. Ulchi Freedom Shield is one of two large combined exercises the allies stage each year. This year's began Monday, hours after the post, with about 18,000 South Korean troops training alongside U.S. forces in computer-simulated command post drills, live field maneuvers and civil defense exercises. Neither government has said what a reduced exercise would look like. A Joint Chiefs of Staff official told reporters Monday that the training was proceeding as planned, and the defense ministry said the same. Park said the two countries had coordinated closely on maintaining combined defense readiness and on exercises and training, and would keep working together on the specifics. In the same post, Trump tied the decision to Seoul's refusal to join the U.S. war against Iran. He wrote that he had recently asked the South Korean president whether the country wanted to join the "Denuclearization of the Islamic Republic of Iran," and was told, "No thanks!" He described the two matters as "somewhat unrelated." Recounting the call on Monday, Trump said he had told President Lee Jae Myung that Washington did not need help in Iran but would take it, and that the United States keeps 39,000 soldiers in South Korea guarding against Kim. About 28,500 U.S. troops are stationed in the country. Park gave a different account of Seoul's role. He said the government had taken an active part from the earliest stage in international discussions aimed at securing a ceasefire in Iran and restoring free navigation through the Strait of Hormuz, and that it was in close discussion with Washington on practical military contributions, weighing Korean Peninsula readiness posture and domestic legal procedure. That position has been consistent throughout, Park said, declining to confirm details. Trump met Kim three times during his first term and has not seen him since returning to office. After the 2018 Singapore summit he suspended what he called provocative drills with Seoul, and that year's Ulchi Freedom Guardian exercise was canceled. Pyongyang has given no public sign of interest in returning to nuclear talks. Kim Yo Jong, the North Korean leader's sister, said in a statement carried by state media last July that personal relations between her brother and Trump were not bad, but that any relationship serving the purpose of North Korea's denuclearization would amount to a mockery. The exercise runs through Aug. 27. 2026-08-18 15:19:39 -
Nexters Partners with KRWQ to Implement Korean Won Stablecoin Payments in AI and Global Gaming Nexters announced on August 18 that it has signed a strategic memorandum of understanding (MOU) with the Korean won stablecoin KRWQ. As part of this agreement, KRWQ will be used for payments in artificial intelligence (AI) and global gaming services offered by OneStore. Following its acquisition of OneStore, Nexters has secured the distribution and payment infrastructure that was previously lacking in its blockchain gaming platform, connecting KRWQ as a payment and settlement option alongside the existing dollar-linked ONEUSD. This move aims to diversify the on-chain payment system of the global OneStore.Nexters stated, "This is the first case of applying on-chain payments and settlements in Korean won for global content, and we expect it to be a frontier for the global use of the Korean won stablecoin." The company plans to introduce KRWQ as a payment currency through ONEpay, providing a Korean won payment option on the global OneStore. KRWQ will also be used as a settlement currency, allowing developers and publishers on the global OneStore to choose it as a payment method, thereby expanding their options alongside existing currencies.In terms of liquidity, Nexters is considering introducing trading pairs that allow KRWQ to be exchanged with ONEUSD or ONE within OneChain. The company also plans to support distribution by integrating wallets, apps, and mini-apps linked to KRWQ into the global OneStore.KRWQ is a stablecoin that is pegged 1:1 to the Korean won. It was jointly developed by the stablecoin protocol Frax and the blockchain and AI project IQ, and issued by BrainPower Labs last year. The collateral assets are maintained at over 100% of the issued amount, with real-time issuance and reserve verification results made public. In June, it became the first Korean won stablecoin to implement Chainlink's Proof of Reserve.Dave Shin, COO of KRWQ, remarked, "Gaming and digital content are areas where the Korean won is most actively used, and OneStore serves as a gateway to expand that demand globally." He explained that once KRWQ is integrated into OneChain and ONEpay, developers will be able to handle pricing, payments, and settlements in Korean won on-chain while verifying reserves in real-time.Jang Hyun-guk, CEO of Nexters, emphasized, "The application of KRWQ in global AI gaming payments will provide a practical answer regarding the usability of the Korean won stablecoin." Meanwhile, Nexters has restructured its ecosystem under the 'ONE' brand following its acquisition of OneStore. OneStore boasts 38 million embedded wallets and an online transaction volume exceeding 800 billion won.As a result, the mainnet CROSS has been renamed to OneChain, the native token CROSS to ONE, and the common transaction medium in the ecosystem to ONEUSD.The company is also accelerating the development of an AI and blockchain gaming platform. Recently, it launched an 'AI Games' tab within OneStore, allowing AI-generated games to start services in the OneStore ecosystem. Additionally, it has integrated the embedded wallet 'ONEpocket' into the OneStore app.Nexters plans to launch the global OneStore, branded as OneBuild, simultaneously in 124 countries, marking the beginning of its global store and gaming platform operations.* This article has been translated by AI. 2026-08-18 15:16:00
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Labor Department Launches Intensive Oversight at HD Hyundai Heavy Industries After Two Fatal Accidents Following the deaths of two workers from subcontractors due to entrapment accidents at HD Hyundai Heavy Industries' Ulsan and Gunsan shipyards, labor authorities have initiated a large-scale oversight.The Ministry of Employment and Labor announced on August 18 that it has begun intensive supervision equivalent to special oversight at HD Hyundai Heavy Industries.On July 18, a 20-year-old Uzbek worker from a subcontractor died after becoming trapped between a gondola and the upper structure while working in the cargo hold of a liquefied natural gas (LNG) carrier under construction at the Ulsan shipyard. Six days later, another entrapment accident occurred at the Gunsan shipyard, resulting in the death of a 30-year-old worker from a subcontractor.In response to the recurrence of similar fatal accidents, the Ministry has decided to conduct a comprehensive review of the company's overall safety and health management system rather than limiting its investigation to individual incidents. The oversight will cover the Ulsan and Gunsan shipyards, the headquarters, and a factory designated as a high-risk workplace earlier this year. The ministry will also expand the oversight team to include personnel from local labor offices.A total of 62 personnel, including inspectors and staff from the Korea Occupational Safety and Health Agency, will be involved in the oversight. The Ministry aims to verify compliance with key safety regulations related to recurring entrapment accidents, as well as incidents of collisions, falls, fires, explosions, and suffocation. It will also check adherence to the overall Industrial Safety and Health Act.The Ministry will assess whether the improvement measures implemented by the company after the accidents are being effectively enforced on-site. This includes evaluating whether the safety and health management system at the headquarters is functioning properly and whether risk assessments to identify and mitigate hazards before work are being conducted effectively.If violations are identified, the Ministry plans to take strict legal action. It will also guide the company to develop tangible measures that can be felt on-site. Furthermore, the oversight will not be a one-time event; follow-up inspections will be conducted to ensure that improvements are continuously implemented.Minister of Employment and Labor Kim Young-hoon stated, "The recurrence of serious accidents of the same type indicates that the company's safety management system is not functioning properly. We will analyze past serious accidents and near misses to ensure that the major risk factors in the shipyard are being managed effectively." He added, "The government will take action against companies where similar serious accidents occur based on a zero-tolerance principle."* This article has been translated by AI. 2026-08-18 15:08:20
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Hyundai Engineering Selected as Partner for TerraPower's Next-Gen Nuclear Project Hyundai Engineering has been selected as a partner for the next-generation nuclear power project by the American company TerraPower. The company has secured EPC priority rights for up to eight follow-up sodium nuclear reactors, aiming to take the lead in the commercialization market for next-generation nuclear power. On August 18, Hyundai Engineering announced that its CEO, Lee Han-woo, and TerraPower CEO Chris Levesque, along with other key executives, signed a basic agreement to carry out the sodium nuclear reactor project. Through this agreement, both companies will expand their cooperation in the nuclear power sector and jointly explore new business opportunities. Hyundai Engineering has also secured the rights to be the EPC partner for up to eight additional sodium nuclear reactors that TerraPower is planning. TerraPower is a U.S. nuclear company that possesses fourth-generation nuclear technology based on sodium-cooled fast reactors using liquid sodium as a coolant. It has received construction approval for a fourth-generation reactor from the U.S. Nuclear Regulatory Commission and is making strides in the next-generation nuclear market with the commencement of the 345 MW 'Kemmerer Unit 1' in Wyoming. Sodium nuclear reactors are characterized by their high safety and efficiency, producing less nuclear waste compared to existing reactors. They can naturally cool even when power is lost and can adjust output according to power demand by combining the reactor with energy storage systems. Hyundai Engineering noted that sodium nuclear reactors are gaining attention as a carbon-free power source capable of meeting the increasing energy demands of the AI and semiconductor industries. TerraPower has already signed contracts with major tech companies, including Meta, to supply power to AI data centers and is planning to expand into international markets. As the demand for power from AI data centers and advanced manufacturing facilities surges, construction companies' nuclear and small modular reactor projects are emerging as a key component in the global energy infrastructure bidding competition. Leveraging its experience in constructing 24 large nuclear power plants, Hyundai Engineering is participating in various projects in the U.S., including large nuclear plants, small modular reactors, and nuclear decommissioning. This agreement allows Hyundai Engineering to broaden its collaboration with TerraPower on sodium projects, gaining experience in the next-generation nuclear sector. A Hyundai Engineering official stated, “This agreement combines TerraPower's innovative nuclear technology with Hyundai Engineering's global EPC capabilities, marking an important milestone in responding to the surging energy demand and accelerating the commercialization of next-generation nuclear power.” The official added, “Hyundai Engineering will continue to expand its energy portfolio and strengthen cooperation with leading companies to lead the global energy market.”* This article has been translated by AI. 2026-08-18 15:08:00
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First Commission Payments Under '1200% Rule' Approaching for GA Agents As the first commission payment date approaches under the '1200% rule' for insurance agents affiliated with corporate insurance agencies (GAs), many GAs have yet to finalize specific payment criteria. GAs are adjusting their payment plans while monitoring competitors to prevent agent departures.According to the insurance industry on August 18, many GAs have not yet communicated the detailed commission criteria reflecting the 1200% rule to their agents.Typically, GA agents receive commission payments based on the previous month's contract performance around the 25th of the following month, with payments made by the 27th. Some GAs have developed payment plans that incorporate the 1200% rule, but these plans remain in draft form or are still undergoing last-minute adjustments.The 1200% rule limits the commission paid to agents in the first year of an insurance contract to a maximum of 12 times the monthly premium. For example, if a customer pays a monthly premium of 100,000 won, the maximum commission that can be paid in the first year is 1.2 million won.The hesitation among GAs in finalizing payment criteria stems from the need to secure agents and compete in product sales. The level and timing of commission payments can directly influence agent turnover and the company's sales performance.One GA agent stated, "For agents, products that offer higher commissions payable next month are more advantageous than those that pay out a year later. If the products offer similar coverage, the conditions for commission payments can affect sales, leading companies to closely observe competitors' payment plans."Industry discussions also include proposals to reduce the share of commissions for branch managers and other mid-level managers. Lowering commissions for frontline agents significantly could lead to turnover or decreased sales performance, so the focus is on maintaining agent commissions while adjusting those for mid-level managers.Adjustments to payment timing are also being considered. Some are exploring the option of reducing initial year payments while increasing the compensation proportion paid after contract retention. However, as financial authorities are scrutinizing any circumvention of regulations regarding payment timing or naming, actual payment plan designs may face restrictions.Ultimately, even with the same 1200% rule applied, the impact felt by frontline agents will vary depending on the commission distribution and payment methods of each GA. An industry insider noted, "Agents have not yet received commissions under the new criteria, so there is not yet a significant sense of impact from the 1200% rule. The real reactions will emerge once the first commissions are paid at the end of this month." 2026-08-18 15:08:00