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  • Chinese Foreign Minister Wang Yi to Visit South Korea on August 19-20
    Chinese Foreign Minister Wang Yi to Visit South Korea on August 19-20 Wang Yi, China's Foreign Minister, will make an official visit to South Korea from August 19 to 20 at the invitation of South Korean Foreign Minister Park Jin.During a regular briefing on August 18, Foreign Ministry spokesperson Park Du-sun stated, "The two ministers are expected to exchange in-depth views on bilateral relations, the situation on the Korean Peninsula, and regional and international issues of mutual interest during the China-South Korea Foreign Ministers' Meeting and an official dinner on August 19."This visit marks Wang's first trip to South Korea in nearly five years, since September 2021, and the first China-South Korea Foreign Ministers' Meeting since the talks in Beijing last September.Park added, "Ahead of the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, China, in November, this visit will serve as an opportunity to review the progress of the full restoration of China-South Korea relations and to prepare for the next steps and high-level exchanges."President Yoon Suk Yeol is scheduled to meet with Wang Yi at the Blue House on the morning of August 20.The Blue House stated, "President Yoon will assess the direction of the development of China-South Korea relations and the regional situation, and he will convey his regards to Chinese President Xi Jinping."Additionally, a meeting and lunch between National Security Advisor Kim Sung-han and Wang Yi is also planned for August 20, where a broad exchange of views on China-South Korea relations, the situation on the Korean Peninsula, and other regional and international issues will take place.* This article has been translated by AI. 2026-08-18 14:56:00
  • 2029 College Entrance Exam Scheduled for November 16, 2028
    2029 College Entrance Exam Scheduled for November 16, 2028 The 2029 College Scholastic Ability Test (CSAT) for current first-year high school students will take place on November 16, 2028. The integrated exam system, which eliminated elective subjects in Korean, mathematics, and inquiry areas, is expected to remain in place for the 2029 exam, following its introduction in 2028.On August 18, the Ministry of Education announced the details regarding the exam date and subjects for the 2029 CSAT. The results for the 2029 exam will be communicated to students on December 8, 2028.A key feature of the 2029 CSAT is the continuation of the revised exam format introduced in 2028. Under this system, all students will be evaluated based on the same criteria and content across the Korean, mathematics, social studies, and science inquiry areas, with no elective subjects. Students can choose only one subject from the second foreign language/Chinese characters area out of a total of nine subjects.All students are required to take the Korean history section, and if they choose social studies and science inquiry, they must take both 'Integrated Social Studies' and 'Integrated Science.'The exam format will primarily consist of multiple-choice questions with five options, but 30% of the math questions will be short-answer format.The grading system will remain unchanged. The mandatory subjects, including Korean history, English, and the second foreign language/Chinese characters, will use absolute evaluation, with scores divided into nine grades. In contrast, the remaining subjects, such as Korean, mathematics, and inquiry, will be assessed using relative evaluation, providing standard scores, percentiles, and grades.Additionally, any student found guilty of exam misconduct will have their results for the 2029 exam invalidated, and they will generally be barred from taking the 2030 exam. However, minor infractions, such as writing answers after the end of the exam, as determined by the Minister of Education, will only result in the invalidation of that year's exam.Meanwhile, the Korea Institute for Curriculum and Evaluation, which administers the CSAT, plans to announce the detailed guidelines for the 2029 exam in March 2028.* This article has been translated by AI. 2026-08-18 14:52:00
  • 11st Launches AI-Enhanced Shopping Search, Doubles Purchase Conversion Rate
    11st Launches AI-Enhanced Shopping Search, Doubles Purchase Conversion Rate 11st has introduced a new service that utilizes artificial intelligence (AI) to recommend search keywords and products tailored to customer purchasing intentions.On August 18, 11st announced the launch of its '11st AI Search' service, which suggests detailed search keywords and related products based on the customer's input in the search bar. When a customer searches for a product category, the AI analyzes key features, characteristics, and uses of the product to propose specific search keywords.For instance, searching for laptops may yield keywords like 'portable' or 'optimized for gaming.' Similarly, swimwear searches might suggest keywords such as 'body-shaping' or 'UV-blocking,' while eggs could be associated with 'humanely raised' or 'antibiotic-free' considerations.The AI also evaluates price competitiveness, shipping costs, delivery speed, and customer reviews to recommend around five suitable products.Additionally, the service supports 'contextual search,' allowing customers to input specific conditions such as age, gender, and season, or everyday phrases like 'gifts for housewarming' or 'snacks for late-night eating' to receive relevant product suggestions.The conversion rate for actual purchases has also shown significant improvement. According to 11st, the purchase conversion rate for the AI search service, launched last month, was more than double that of the previous integrated search.Seol Geon-ho, head of the development group at 11st, stated, "Search is a crucial starting point for shopping, and we will enhance customer convenience based on AI technology."Meanwhile, 11st is holding a T-Membership Shopping Festival for T-Membership customers until August 20, offering discounts of up to 50% (up to 5,000 won) on 980 popular items, including seasonal food, daily necessities, and digital and fashion & beauty products.* This article has been translated by AI. 2026-08-18 14:48:10
  • Gwangju Mayor Shin Kye-yong Announces Support for Global Market Expansion of Local Businesses
    Gwangju Mayor Shin Kye-yong Announces Support for Global Market Expansion of Local Businesses Gwangju Mayor Shin Kye-yong is set to intensify support for local businesses aiming to enter the global market.Mayor Shin is preparing for participation in CES 2028, the world's largest technology exhibition, to assist local technology companies in their global market endeavors.He will conduct a preliminary demand survey for companies wishing to participate in CES 2028 until September 4, and plans to refine the scale of support, business plans, and budget based on the survey results.CES, organized by the Consumer Technology Association (CTA), is a global business platform showcasing various technologies and products leading future industries, including artificial intelligence (AI), digital health, mobility, smart home, and robotics.According to CES, the event will take place in Las Vegas from January 11 to 14, 2028.This preliminary survey is significant as it aims to establish a support system at the city level, enabling Gwangju's technology companies to secure competitiveness in the global market.Mayor Shin is considering participation in group pavilions such as the 'Integrated Korea Pavilion' or 'Gyeonggi Province Pavilion' organized by the Korea Trade-Investment Promotion Agency (KOTRA).Plans are also in place to provide support for booth rental fees, installation costs, transportation fees, and interpretation costs, with a maximum of 20 million won per company.This initiative aligns with Mayor Shin's ongoing efforts to strengthen the future industry ecosystem centered around the Knowledge Information Town and to create a business-friendly city.In January 2026, Mayor Shin attended CES 2026 in Las Vegas with representatives from companies in the Gwangju Knowledge Information Town Business Council.His experience observing innovative technologies and industrial ecosystems from global companies at that event has informed the support for CES 2028 participation.Mayor Shin aims to help Gwangju companies find new markets and business opportunities abroad, drawing on the innovative strategies and industry trends he witnessed at CES.There is growing anticipation in the local community regarding the push for CES participation.Participation in international exhibitions is seen as a way not only to expand individual companies' exports but also to promote Gwangju's technological capabilities and the competitiveness of businesses in the Knowledge Information Town.Residents believe that if companies nurtured in Gwangju can successfully enter the global market, it could positively impact local job creation and strengthen the industrial base.Mayor Shin plans to closely assess companies' intentions to participate and the areas of support needed through this demand survey, aiming to establish effective support measures.He stated, "The demand survey for CES 2028 participation was initiated based on the innovations and industrial ecosystem trends of global technology companies observed at CES 2026."He added, "We will actively support local companies' entry into overseas markets and enhance global competitiveness to make Gwangju a leading city in future industries."* This article has been translated by AI. 2026-08-18 14:48:00
  • Hayden Panettiere, Star of Heroes and Nashville, Dies at 36
    Hayden Panettiere, Star of 'Heroes' and 'Nashville,' Dies at 36 Hayden Panettiere, the actress known for her roles in the TV series 'Heroes' and 'Nashville,' has died at the age of 36.CNN reported that Panettiere was found unresponsive in an apartment in Greenville, South Carolina, on August 16. According to the Greenville County Coroner's Office, she was discovered at 1:51 p.m. after a 911 call was made by a friend. Emergency medical personnel attempted to revive her, but she was pronounced dead at 2:32 p.m.At the time, Panettiere was staying temporarily at the residence. Police have stated that there are no indications of foul play or suspicious circumstances. An autopsy conducted on Monday revealed no signs of trauma that could have contributed to her death. However, the exact cause and manner of death will be determined following additional tests.Panettiere was born on August 21, 1989, in Palisades, New York. She began her career in advertising at just 11 months old and gained fame as a child actor. She rose to international stardom in 2006 when she portrayed cheerleader Claire Bennet, who has the ability to heal herself, in NBC's 'Heroes.'She later appeared in films such as 'Scream 4' and 'Scream 6,' and had roles in 'Remember the Titans' and 'Ice Princess.' From 2012 to 2018, she starred as country music star Juliette Barnes in the ABC drama 'Nashville.'Panettiere openly discussed her struggles in life, including postpartum depression, addiction, and domestic violence, in her memoir published this year. She has an 11-year-old daughter, Kaya, with former heavyweight boxing champion Wladimir Klitschko. Panettiere previously stated that she gave custody of her daughter to Klitschko in 2018 as part of her recovery process.Her father, Skip Panettiere, expressed his deep sorrow through a spokesperson, stating, "We are heartbroken to share the tragic news of our beloved Hayden's passing. She was an incredible light and a strong presence who brought immeasurable love and joy to everyone who knew her and to the millions who watched her on screen."The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) also released a statement mourning Panettiere's sudden death and extending condolences to her daughter, family, friends, and fans.CNN noted that Panettiere had been facing challenges related to addiction and mental health but was recently returning to acting. Tributes from fellow actors and fans have poured in following her unexpected death.* This article has been translated by AI. 2026-08-18 14:48:00
  • Korean Securities Firms Increase Capital by 10 Trillion Won in First Half of 2026
    Korean Securities Firms Increase Capital by 10 Trillion Won in First Half of 2026 Domestic securities firms have increased their equity capital by over 10 trillion won in the first half of 2026. This growth is attributed to the expansion of corporate finance (IB) and venture capital investments, as major firms seek to bolster their capital amid favorable market conditions.According to data compiled by the financial investment industry on August 18, the equity capital of 37 domestic securities firms rose from 95.8474 trillion won at the end of December 2025 to 106.2814 trillion won by the end of June 2026, marking an increase of 10.434 trillion won, or 10.9%, in just six months.The increase was concentrated among larger firms. Korea Investment & Securities saw its equity capital grow from 11.1623 trillion won to 13.1922 trillion won, the largest increase recorded. NH Investment & Securities increased its capital from 8.6129 trillion won to 9.8181 trillion won, a rise of 1.2052 trillion won, while KB Securities grew from 6.6928 trillion won to 7.9784 trillion won, an increase of 1.2856 trillion won.Additionally, Woori Investment & Securities raised its capital from 1.2024 trillion won to 2.2278 trillion won, climbing four spots in the rankings from 17th to 13th.Meritz Securities and Kiwoom Securities also increased their equity capital by 814.3 billion won and 808.7 billion won, respectively. Hana Securities added 615.8 billion won, while Samsung Securities increased by 512.1 billion won. Mirae Asset Securities maintained its capital above the 10 trillion won mark, growing from 10.4139 trillion won to 10.5653 trillion won, an increase of 151.4 billion won.The push for capital expansion among securities firms is crucial as the size of their equity capital directly influences their operational capabilities in key IB sectors such as corporate finance, acquisition finance, and alternative investments. Larger firms are better positioned to engage directly in significant initial public offerings (IPOs), acquisition financing, and alternative investments in real estate and infrastructure.The competition for capital is intensifying, particularly for firms aiming to expand into large-scale IB operations. Firms with over 4 trillion won in equity capital can engage in issuance business, while those with over 8 trillion won can pursue integrated investment account (IMA) operations. IMAs allow securities firms to manage client funds for investments in corporate finance and venture capital, returning profits to clients.Currently, five securities firms have equity capital exceeding 8 trillion won: Korea Investment & Securities, Mirae Asset Securities, NH Investment & Securities, Meritz Securities, and Samsung Securities. KB Securities, with 7.9784 trillion won as of June, fell just 216 billion won short of the 8 trillion won threshold.Industry experts believe that the competitive landscape in the securities sector is shifting from a focus on simple brokerage to a more capital-intensive IB competition, increasing the necessity for capital expansion. To participate in large deals, sufficient equity capital is essential, suggesting that the 'size competition' among securities firms will continue for the foreseeable future.Meanwhile, smaller securities firms are also accelerating their capital expansion. Toss Securities increased its capital from 637.8 billion won at the end of last year to 872.8 billion won by June, a rise of 235 billion won. Kakao Pay Securities also grew from 204.6 billion won to 264 billion won, an increase of 59.4 billion won. Although these firms do not engage in IB activities, the booming stock market has heightened demand for credit loans, underscoring the need for capital expansion to support related operational limits.Foreign securities firms have also expanded their equity capital. The 23 foreign firms operating in South Korea saw their capital increase from 5.7561 trillion won at the end of last year to 8.1622 trillion won by June, a rise of 2.4061 trillion won (41.8%). Goldman Sachs increased its capital from 603.3 billion won to 1.6288 trillion won, the largest increase, while Merrill Lynch grew from 360.6 billion won to 827.5 billion won, an increase of 466.9 billion won. Morgan Stanley raised its capital from 655.5 billion won to 1.089 trillion won, while Macquarie Securities also expanded its capital from 116.3 billion won to 207.3 billion won. Analysts suggest that the capital increases among foreign firms are primarily aimed at enhancing their capacity to expand operations in the thriving Korean market.* This article has been translated by AI. 2026-08-18 14:44:00
  • Seoul Education Chief Calls for Caution in Revising Local Education Funding
    Seoul Education Chief Calls for Caution in Revising Local Education Funding Seoul's Superintendent of Education Jeong Geun-sik expressed the need for a cautious approach regarding the government's proposed revisions to local education funding. While the government aims to adjust the funding system under the pretext of investing in early and lifelong education, Jeong argued that these areas are already significantly managed by education offices, suggesting that support could be expanded within the existing framework.During a press briefing on August 18, Jeong voiced his concerns about the government's moves to reform the funding system. He questioned the government's plan to establish a separate 'Future Response Fund' using excess tax revenue."The education office is responsible for a significant portion of early childhood education, and with the integration of daycare centers under its jurisdiction, it also supports lifelong education institutions for out-of-school youth and literacy programs," Jeong explained. He added, "Given that the education office is already actively fulfilling these roles, it is somewhat difficult to understand the rationale behind allocating separate funds for early and lifelong education." He emphasized that maintaining the current funding ratio of 20.79% of domestic tax revenue while increasing related investments would be more appropriate.Jeong also raised serious concerns about the proposed 'economic growth rate linkage system' being considered by the Ministry of Economy and Finance. He pointed out that using the average economic growth rate over the past three years would reflect periods of low economic growth.He stated, "If the overall labor costs for the education office increase by an average of 3% each year, and the budget increase does not keep pace, it will ultimately lead to a reduction in essential educational funding for students." He cautioned that the domestic tax linkage system, which has been a strong support for human capital formation for nearly half a century since the 1970s, should be approached with caution to avoid undermining its foundation.Jeong also expressed disappointment over the lack of communication during the revision discussions. He noted that the government's announcement regarding the funding reform, originally scheduled for August 19, was postponed due to inter-departmental coordination issues. He emphasized that the government should provide sufficient explanations to education superintendents and listen to feedback from the field, advocating for a platform to gather input from various educational organizations.Additionally, he addressed the trend of imposing penalties on cash welfare programs such as enrollment support and field trip expenses. Jeong remarked, "These supports are essential measures to ensure students' mobility rights and alleviate economic hardships. It is unreasonable to apply excessively strict standards to education office support for students while allowing local governments to provide cash support." 2026-08-18 14:40:00
  • Government Exempts Greenbelt Areas in Gwacheon and Seongnam for Housing Development
    Government Exempts Greenbelt Areas in Gwacheon and Seongnam for Housing Development The South Korean government has decided to exclude the greenbelt areas around the Gwacheon Racecourse and the Defense Security Command, as well as Seongnam's Geumto 2 and Yeosu 2 districts, from the total area eligible for greenbelt release in the metropolitan area. This move allows for the development of 16,100 housing units without reducing the existing allocation for local governments, potentially accelerating housing supply. On August 18, during the first Uljin National Security Council meeting and the 36th Cabinet meeting, President Lee Jae-myung presided over the deliberation and approval of the 'Public Housing District Development Project Selection for Greenbelt Release Exception.' This agenda item follows the government's announcement on January 29 regarding measures to expand and expedite urban housing supply. It allows for exceptions to the greenbelt release limits for public housing districts aimed at providing affordable housing. The greenbelt release limits are a system that predefines the maximum area that can be released for development in metropolitan areas. With the exception applied, the government can pursue greenbelt releases for public housing districts without exhausting the previously allocated release area. The targeted areas include 9,800 units planned for the Gwacheon Racecourse and Defense Security Command, 3,800 units in Seongnam's Geumto 2 district, and 2,500 units in Seongnam's Yeosu 2 district. The Ministry of Land, Infrastructure and Transport will proceed with subsequent procedures, including reviews by the Central Urban Planning Committee and consultations with local governments. The government plans to develop the Gwacheon Racecourse and Defense Security Command site into a city that combines advanced industries and residential functions. The Geumto 2 district in Seongnam will be an eco-friendly residential area linked to the Pangyo Techno Valley, while the Yeosu 2 district will focus on parks and green spaces, with construction expected to begin in 2030. However, the 6,800 units planned for the Taereung Country Club in Nowon District, Seoul, are not included in this exemption. Discussions on the greenbelt release for Taereung CC will proceed after completing the World Heritage Impact Assessment and reviews by the National Heritage Committee. Additionally, the government approved three subordinate laws outlining the organization and operational framework of the Serious Crimes Investigation Agency, which is set to launch on October 2. These include the enforcement decree on the organization and operation of the agency, the organizational structure of the agency and its affiliated institutions, and the appointment regulations for investigators. The Serious Crimes Investigation Agency will operate under the Ministry of the Interior and Safety, with a total of 2,874 personnel, including 2,567 specialized investigators and 307 general public officials. It will handle seven major serious crimes, including corruption, economic offenses, defense business crimes, drug-related crimes, national security, cybercrime, and legal distortion. Five joint investigation departments will also be established to address voice phishing, financial crimes, virtual asset crimes, drug offenses, and national financial crimes. These departments will conduct supplementary investigations at the request of prosecutors for cases initially investigated by other agencies, as well as handle crimes against vulnerable populations. The head of the Serious Crimes Investigation Agency will be appointed by the president following recommendations from a candidate recommendation committee, the Minister of the Interior and Safety, and a National Assembly confirmation hearing. Individuals involved in cases can request a review of the appropriateness and legality of the agency's investigations. The appointment decree also includes procedures for investigator appointments, promotions, disciplinary actions, eligibility assessments, performance evaluations, and training. The Cabinet also approved a revision to the parking law that temporarily exempts the requirement for additional parking spaces when converting vacant commercial and office spaces into officetels. Vehicles left in free public parking lots for more than a month will incur fines ranging from 300,000 to 1 million won, while blocking parking lot entrances will result in fines of 1 million to 5 million won. Revisions to the data-based administrative law, requiring public institutions to assess the impact of artificial intelligence on citizens' fundamental rights, and the electronic government law, which outlines the types and security measures for mobile identification, were also passed. Measures to prevent fraudulent purchases and sales of tickets for performances and sports events, along with penalties and reward criteria for reporting, were included in the revised performance law and the National Sports Promotion Act. The period for additional reporting and compensation applications for victims and families of the Jeju 4.3 incident was also extended in the revised Jeju 4.3 Special Act. The government finalized the agricultural product price stabilization system, the operation standards for the grain supply management committee, and the basis for supporting slaughter and shipment incentives for Hanwoo farmers, as well as measures to support the Ulsan International Garden Expo. The Cabinet also approved a revision to the lottery fund law to abolish the uniform legal distribution method and allocate funds based on project evaluations, along with expenditures of 680 million won for the operation of the intergovernmental punishment rationalization task force and 494.97 million won for the extended investigation period of the comprehensive special investigation. Additionally, a social security agreement with Portugal and a co-production agreement with Italy for film projects were among the 1 legislative bill, 32 presidential decrees, and 5 general agenda items approved as originally proposed.* This article has been translated by AI. 2026-08-18 14:36:10
  • Public Home Shopping Donates to Welfare Facilities for Single Mothers and Small Business Foundation
    Public Home Shopping Donates to Welfare Facilities for Single Mothers and Small Business Foundation Public Home Shopping has made a charitable contribution to support neighbors in need during the heatwave.On August 18, Public Home Shopping announced that it donated a total of 15 million won to welfare facilities for single mothers, including Aeranwon, Mapo Aeranwon, and Aeran Youngsville. The funds will be used to purchase postpartum supplies and food and beverages for single mothers.Additionally, the company provided 10 million won to the Small Business Hope Foundation, which includes the full proceeds from the Happy Department Store charity bazaar.The Small Business Hope Foundation, established in 2014, is a non-profit public corporation that assists small businesses with digital transformation, developing online and offline sales channels, and enhancing management capabilities. The donated funds will be used to support initiatives aimed at expanding sales opportunities for small businesses.Earlier, Public Home Shopping held a series of sales support events during the Donghaeng Festival in April, which included special exhibitions to support businesses affected by rising oil prices and initiatives for price stabilization.A representative from Public Home Shopping stated, "We hope this donation helps small businesses and vulnerable groups have a cooler summer. We aim to be a public institution that leads in ESG management through continuous social contribution activities."* This article has been translated by AI. 2026-08-18 14:36:10
  • Clean Country Launches New Wiper Hand Sanitizer to Enhance B2B Hygiene Solutions
    Clean Country Launches New Wiper Hand Sanitizer to Enhance B2B Hygiene Solutions Clean Country's B2B hygiene solution brand, Clean Country PRO, has launched three new products: the industrial wipers TechFit S60 and S80, and the hand sanitizer Shield Sanitizer Gel.According to Clean Country, these new products were developed with various business environments in mind, ranging from manufacturing and automotive maintenance to hospitals, hotels, and offices. The focus is on enhancing work efficiency and hygiene management through specialized hygiene solutions tailored to specific site characteristics.The TechFit S60 and S80 are high-performance industrial wipers designed to quickly remove various contaminants such as oil, lubricants, and cutting fluids commonly found in industrial settings. They aim to improve efficiency in manufacturing, automotive maintenance, and facility maintenance tasks that require frequent cleaning and contamination removal.The Shield Sanitizer Gel offers 99.9% germ-killing power and a moisturizing feel, making it suitable for hygiene management in multi-use facilities like hospitals, nursing homes, hotels, golf courses, and offices. It contains 70% ethanol, evaporating quickly without stickiness, and provides 99.9% effectiveness against five types of harmful bacteria.Meanwhile, Clean Country reported a consolidated revenue of 136.31 billion won for the second quarter of this year, a 10.3% increase compared to the same period last year. Operating profit turned positive at 620 million won.A Clean Country representative stated, "These three new products were developed considering the hygiene management and work efficiency required in various work environments, from industrial sites to multi-use facilities. We will continue to expand our specialized hygiene solutions reflecting industry characteristics and customer needs, strengthening our optimized B2B portfolio for corporate clients."* This article has been translated by AI. 2026-08-18 14:36:00