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  • Anyang City Council Returns Entire Budget for Overseas Business Trips
    Anyang City Council Returns Entire Budget for Overseas Business Trips The Anyang City Council in Gyeonggi Province has decided to return the entire budget of 119.8 million won allocated for overseas business trips, considering the economic downturn and worsening financial conditions. According to the council on August 18, the plan includes cutting 6.8 million won for council members' overseas travel expenses and 28 million won for supporting international activities for public officials, as part of the third supplementary budget for 2026. This decision aims to participate in budget cuts during challenging local financial circumstances and to prioritize resources needed for citizens' livelihoods and the recovery of the local economy. Citizens have generally responded positively to the council's decision to return the entire budget for overseas trips. In particular, amid ongoing economic stagnation, rising prices, and a shrinking local economy, many view the council's voluntary return of the overseas trip budget as a responsible effort to reduce expenses. One citizen remarked, "In a situation where citizens are tightening their belts, it is significant that council members are returning travel budgets to redirect funds toward livelihoods. It is important to demonstrate actual budget cuts rather than just words." Another citizen stated, "It is necessary to continuously verify whether the returned budget is used for projects that truly benefit citizens. I hope this decision leads the council to engage in more field-centered legislative activities rather than performative gestures." The local community hopes that this budget return will not be a one-time measure but will lead to ongoing reductions in unnecessary budgets and a focus on projects that have a tangible impact on citizens. Meanwhile, Chairman Eum Kyung-taek stated, "As the difficulties of local finances increase, the council must actively participate in budget-cutting efforts. Currently, it is more important to look at the realities of citizens' lives and find answers from their voices than to seek policy solutions abroad." He added, "We will ensure that the returned budget is utilized more efficiently where it is needed by citizens and will continue to focus our legislative activities on the livelihoods of the people."* This article has been translated by AI. 2026-08-18 14:12:10
  • Haeundae to Host Summer Night Moonlight Walk and Fall Cultural Festival
    Haeundae to Host Summer Night Moonlight Walk and Fall Cultural Festival Busan's Haeundae District is set to launch a summer night walking event alongside a fall tourism program.The initiative aims to enhance community participation in health programs and expand tourism content by utilizing coastal and urban resources during nighttime.The district will host the 'Haenuri Trail Walking Together' event eight times until November. The first event will take place on the 28th at 7 p.m. at Haeundae Square (Haeundae Beach Event Plaza). Participants will complete a warm-up before walking along Course 1 and Course 8 with a trekking guide.Registration is open for 120 participants on a first-come, first-served basis, and finishers will receive a completion badge. Interested residents can sign up via the QR code on the Haeundae District website banner.Course 1, titled 'The Sea Railway Shaped by Waves and Train Tracks,' covers 6.2 km and takes about two hours. It starts at Haeundae Square and passes through the Blue Line Railway, Haewol Observatory, and Cheongsapo Daritdol Observatory, ending at the old Songjeong Station.Course 8, named 'Dongbaek Cinema Road Embracing Dongbaek Island and Haeundae,' also spans 6.2 km and takes about two hours, starting at Haeundae Square and passing through Dongbaek Island and Marine City, concluding at the Jaesong-dong Cinema Center. Both routes offer scenic views of the ocean breeze and urban nightscape.The 'Haenuri Trail' is a 50 km walking path that connects the sea, forest, and urban areas, allowing participants to enjoy health and leisure through themed courses that cover approximately 10,000 steps.The themes include Moonlight Walk for Courses 1 and 8, Sunset Walk for Courses 2 and 3, Green Healing Road for Course 4, Village Waterway Walk for Course 5, Mind Rest Walk for Course 6, and Cinema Healing Road for Course 7.The specific segments are as follows: Course 1 from Haeundae Square to the old Songjeong Station, Course 2 from the old Songjeong Station to Haeundae Station on the subway, Course 3 from Haeundae Station to Jaesong-dong Byeolcheonji Children's Park, Course 4 from Byeolcheonji Children's Park to Bansong-dong Kkotdarae Park, Course 5 from Kkotdarae Park to Seokdae Station on the subway, Course 6 from Seokdae Station to Seokdae-dong Dongcheon Bridge, Course 7 from Dongcheon Bridge to the Cinema Center, and Course 8 from Haeundae Square to the Cinema Center. Monthly Cultural Festival 'Half-Price Travel' Starts in SeptemberThis fall, the 'Half-Price Travel' cultural festival will promote the revitalization of the Dalmaji Road commercial area and encourage extended tourism.The district has been selected for Busan's '2026 Regional Specialized Content Contest' to attract tourists with this program. 'Half-Price Travel' signifies a warm welcome to visitors to Haeundae while offering cultural experiences at discounted prices.The festival will run from September 12 to November 21, excluding the Chuseok holiday, every Saturday from 1:20 p.m. to 9 p.m. The A course, running from October 31 to November 21, will cater to foreign tourists.The program is divided into three courses: A, B, and C, featuring gallery exhibitions, pottery experiences, tea meditation, perfume making, and leather crafts. At 8 p.m., a 'Moonlight Music Concert' featuring musicals, folk music, acoustic bands, fusion traditional music, and popera performances will take place, along with a 'Moonlight Night Walk' carrying lanterns.The participation fee is 30,000 won per person, and registration will be accepted on a first-come, first-served basis starting on the 18th through the Eventus website. More details can be found on the Haeundae District Office website.Kim Seong-su, the district mayor, stated, "The Haenuri Trail is a unique walking path where nature, urban life, and culture come together. We will continue to operate various themed programs that reflect the seasons and local characteristics to promote a walking culture in daily life."* This article has been translated by AI. 2026-08-18 14:12:00
  • Kakaos Kanana-2 Series Tops Safety Evaluation, Outperforming Global Models
    Kakao's Kanana-2 Series Tops Safety Evaluation, Outperforming Global Models Kakao announced that its open-source lightweight language model (SLM) series, Kanana-2, achieved the top score in a safety evaluation, surpassing major international models of similar scale. The evaluation was conducted using Kakao's AI safety assessment platform, which systematically measured harmfulness and bias in the two models, Kanana-2-1.3B-Instruct and Kanana-2-3B-Instruct, released as open-source on Hugging Face on July 28. This assessment utilized AssurAI, a Korean-language safety benchmark jointly developed by the Ministry of Science and ICT, the Korea Telecommunications Technology Association (TTA), and KAIST last November. AssurAI is designed to measure AI risks across various conditions, including text, images, audio, and scenarios involving malicious prompts, tailored to Korea's socio-cultural context. AssurAI includes 9,560 evaluation items across 35 risk categories. Kakao categorized these into five major groups: social risks, sexual content/child protection, crime/illegal activities, violence, and rights violations. The evaluation employed a 'LLM-as-a-Judge' method, which minimizes subjective bias by using predefined scoring criteria. In comparison, the evaluation included Google's Gemma and Alibaba's Qwen as benchmarks. Kanana-2-1.3B-Instruct scored 0.70, outperforming Gemma (0.68) and Qwen (0.58). Similarly, Kanana-2-3B-Instruct also achieved a score of 0.70, exceeding Gemma (0.66) and Qwen (0.62). In specific categories, the 1.3B model excelled in the crime/illegal activities area, while the 3B model significantly outperformed its counterparts in sexual content/child protection and rights violations. Kakao plans to expand pre-release safety evaluations for its AI models, starting with this assessment. The company aims to gradually broaden the evaluation scope beyond text-based language models to include multimodal models and agent-based AI risk assessments. Kim Kyung-hoon, Kakao's AI Safety Leader, stated, "This evaluation is an example of our commitment to preemptively check the safety of open-source models through our verification system and to disclose the results. We will continue to establish safety verification as a core step in our model release process under the principles of responsible AI development."* This article has been translated by AI. 2026-08-18 14:12:00
  • Former Intelligence Chief Fined for Missing Court Appearance in Yoons Coup Trial
    Former Intelligence Chief Fined for Missing Court Appearance in Yoon's Coup Trial Yeo In-hyung, the former head of South Korea's military intelligence, has been fined for failing to appear as a witness in the appeal trial of former President Yoon Suk Yeol, who is accused of leading a coup and abusing his power.On August 18, the Seoul High Court's dedicated coup trial division (Judges Lee Seung-cheol, Jo Jin-goo, and Kim Min-ah) issued the fine after Yeo did not show up for the hearing involving Yoon and former Defense Minister Kim Yong-hyun.Yeo was scheduled to testify, but his legal team submitted a notice stating that he could not attend due to the need for consultations with his attorney regarding unrelated charges. The court found this explanation insufficient, stating, "It is difficult to consider this a valid reason for absence. We are quite surprised that he submitted a notice of absence after indicating he would attend."According to Article 151, Section 1 of the Criminal Procedure Act, a witness who fails to appear without a valid reason may be fined up to 5 million won. However, the court did not specify the amount of the fine for Yeo.To enhance the efficiency of the witness examination process, the court plans to expedite the review of confidential evidence requested by Yeo's legal team and conduct focused questioning that includes sensitive information. Additionally, to prevent delays caused by the special prosecutor's repeated submissions of new evidence, the court has instructed the prosecution to complete all evidence submissions by the end of August.Following Yeo's absence, the court separated the arguments for the defendant, former National Police Agency Planning and Coordination Officer Yoon Seung-young, and rescheduled Yeo's testimony for September 7 and 10. Although afternoon sessions were initially considered, the court ultimately decided on morning sessions starting at 10 a.m. to ensure procedural efficiency.After concluding the hearing, the court transitioned to a preparatory procedure for reviewing confidential records. The legal teams for Yoon and Kim were informed of strict security protocols regarding the confidentiality of the evidence.Considering the potential for delays due to witness absences or other circumstances, the court also preemptively set trial dates for October. It aimed to maintain continuity in the proceedings while avoiding conflicts with other related trials. The confirmed trial dates are October 1, 6, 8, and 15.The court advised, "You should keep Thursdays open for future hearings, as they will likely continue to be scheduled on that day," and indicated that additional dates, such as Tuesdays, may be assigned if necessary.Yeo is facing charges related to his actions during the December 3 martial law declaration, including deploying troops to the National Assembly and the Central Election Management Committee in Gyeonggi Province and organizing a task force to arrest politicians. His first trial verdict is set for September 21.He is also charged with conspiring with Yoon to create conditions for the martial law declaration by ordering the deployment of drones to Pyongyang around October 2024, for which he received a 15-year prison sentence in the first trial. 2026-08-18 14:04:00
  • Woori Financial Group Officially Merges Dongyang Life and ABL Life, Plans $55 Billion Insurer by 2027
    Woori Financial Group Officially Merges Dongyang Life and ABL Life, Plans $55 Billion Insurer by 2027 Woori Financial Group announced on August 18 that it has officially merged Dongyang Life and ABL Life, marking a significant step in enhancing its insurance sector competitiveness.The group incorporated both insurance companies as subsidiaries on July 1, 2025, and fully acquired Dongyang Life as a 100% subsidiary through a comprehensive stock exchange on August 11. Plans are in place to launch a large-scale integrated life insurance company with total assets of 55 trillion won in the second half of 2027.This merger is part of a strategy to respond to the rapidly changing insurance market environment and to concentrate the group's capabilities to develop the integrated insurance company as a key subsidiary.Woori Financial aims to secure stable capital soundness (K-ICS ratio) for the integrated insurance company in line with the new paradigm shift in the insurance market. Additionally, the group plans to lead market competition by building a source of future profits through competitive products and sales capabilities, focusing on contract service margins (CSM).To achieve this, Woori Financial will first combine the strengths of both companies to maximize synergies. The group intends to innovate sales support and management processes through bold investments in AI, providing a robust safety net that encompasses all aspects of customers' lives. At the same time, it aims to secure future growth engines, such as care services in preparation for an aging society, to offer valuable products and services to customers.On August 19, Woori Financial will hold a group CEO town hall meeting chaired by Chairman Im Jong-ryong, where executives and team leaders from both insurance companies will share the direction and vision of the merger.A Woori Financial official stated, "We expect this merger to be an opportunity for balanced growth in the group's business portfolio, and we will develop into an insurance company that provides better value through differentiated experiences that encompass AI innovative technology and warm financial services."* This article has been translated by AI. 2026-08-18 14:00:20
  • Megazone Cloud Collaborates with AWS to Develop Three AI Agent Solutions
    Megazone Cloud Collaborates with AWS to Develop Three AI Agent Solutions Megazone Cloud has partnered with Amazon Web Services (AWS) to jointly develop three enterprise artificial intelligence (AI) agent solutions.On August 18, Megazone Cloud announced that it is the first domestic company to participate in AWS's AI agent solution co-development program, the 'Partner Agent Factory (PAF)', and has collaborated with AWS to create three enterprise AI agent solutions.PAF is a global program where AWS's generative AI innovation center, the 'Generative AI Innovation Center (GenAIIC)', works with partners to develop enterprise AI agent solutions. The program aims to combine AWS's generative AI technology capabilities with partners' AI expertise and industry knowledge to address real business challenges.Through this program, Megazone Cloud has developed the following solutions: the AI agent governance platform 'AAG', the AI-based multilingual document translation solution 'ADT', and the AI video analysis solution 'Space Lens'.AAG is a governance platform that comprehensively manages AI agents operating within a company, from registration and approval to deployment, operation, auditing, and cost management. It supports the unified management of AI agents used across various departments, allowing for integrated control of security, policies, and costs.ADT automates the multilingual document processing workflow, from document analysis to translation, review, and quality verification. It analyzes the structure and context of documents to generate translation standards and glossaries while maintaining the original document's formatting and layout. Megazone Cloud claims that it offers processing speeds up to 95% faster than traditional human-centered translation tasks.Space Lens is an AI video intelligence solution that analyzes both video visuals and audio to extract necessary information. Users can ask questions in natural language, and the solution synthesizes visuals, audio, and context to search for specific statements or scenes. It enables companies to quickly search, edit, and analyze large volumes of video content.Gong Seong-bae, Chief AI Officer of Megazone Cloud, stated, “Generative AI has entered an era where the effectiveness of utilizing and operating AI agents in a corporate environment is becoming a competitive advantage, beyond just the performance competition of individual models. Through our joint innovation with AWS, we will rapidly connect global AI technology trends to our customers' business value.”* This article has been translated by AI. 2026-08-18 14:00:10
  • Saemaul Geumgo to Provide $1.5 Billion in Low-Interest Loans for Small Businesses
    Saemaul Geumgo to Provide $1.5 Billion in Low-Interest Loans for Small Businesses Saemaul Geumgo is launching a community-focused financial support initiative to alleviate the financial burden on small businesses and micro-enterprises.On August 18, Saemaul Geumgo announced its 'Local Government Cooperative Financial Support Project' aimed at small businesses and micro-enterprises.This initiative is part of Saemaul Geumgo's Vision 2030, which includes a 'Community Revitalization and Social Solidarity Financial Package' in collaboration with public and private sectors. Saemaul Geumgo will contribute funds to local credit guarantee foundations, which will then guarantee loans for small businesses. Based on this, Saemaul Geumgo will offer low-interest loans, while local governments will support the interest payments on these loans.Last year, Saemaul Geumgo contributed 6 billion won, facilitating approximately 80 billion won in low-interest loans. This year, the contribution has been increased to 16.5 billion won, with 526 Saemaul Geumgo branches participating in the initiative to support 200 billion won in low-interest loans.Support will also be expanded regionally. In Jeju, Saemaul Geumgo has signed agreements with the Jeju Provincial Government and the Jeju Credit Guarantee Foundation to provide 10 billion won in low-interest refinancing loans targeted at small businesses with low to moderate credit ratings. This effort aims to reduce the interest burden on small businesses currently utilizing high-interest loans.In September, an additional 15 billion won in special guarantee loans for small businesses (operating funds) will also be introduced.A representative from Saemaul Geumgo Central Association stated, "We initiated this project to reduce the financial burden on small businesses and micro-enterprises as a cooperative that thrives with the community. We will continue to provide support tailored to the financial needs of the region and fulfill our role as a financial institution that coexists with the community."* This article has been translated by AI. 2026-08-18 14:00:10
  • Ulsan City Government Advertising: Time to Establish Standards
    Ulsan City Government Advertising: Time to Establish Standards Ulsan City recently requested media status reports from various news organizations.The aim is to reassess the characteristics of each outlet, including their publication formats and online influence.While receiving an additional document may seem unremarkable, it takes on a different significance for those who have observed the structure of government advertising in Ulsan for an extended period.This could be the first step toward establishing clear 'criteria' that have been somewhat elusive until now.Government advertising is not merely about distributing advertising funds to media outlets. Current government advertising laws emphasize the efficiency and public interest of such advertising, mandating that promotional media be selected based on their purpose and characteristics.However, local government advertising has long faced a different set of questions.Why do some media outlets receive more advertising than others?The reasons behind these disparities—whether due to readership, viewership, online influence, or regional relevance—have often been unclear to the public.Our analysis of 1,963 government advertising instances from Ulsan City between 2024 and May 2026 was driven by this very concern.The issue is not merely about how much each media outlet receives.The key question is whether there is a clear explanation for how these funds are distributed.The media landscape has already changed significantly.It is no longer sufficient to assess a media outlet's influence based solely on print circulation. The pathways through which content reaches readers have become much more complex, involving online news consumption, search visibility, video content, and distribution through portals and social media platforms.Conversely, high online metrics do not automatically equate to a media outlet's influence.Factors such as the consistency of local reporting, the production of regional content, and the ability to disseminate local issues on a national scale should also be considered when evaluating public relations media.Ultimately, the goal is to establish objective criteria that everyone can understand.This could involve using objective data such as circulation, viewership, and online influence, while also considering the characteristics of the media and the target audience for policy promotion.Equally important is ensuring that whatever criteria are chosen are applied consistently to all parties.This consistency will help maintain standards even when personnel changes occur.It will also reduce suspicions that relationships with media or existing practices serve as hidden benchmarks for advertising distribution.Ulsan Mayor Kim Sang-wook has emphasized open governance and citizen-centered administration since taking office.Government advertising must adhere to these principles as well.More important than simply stating a commitment to fairness is creating a structure that can be explained as fair.If possible, it may be worth considering the public disclosure of evaluation criteria and key principles for different types of media.Collecting data is not difficult.The challenge lies in letting go of outdated practices in light of that data.Ultimately, Ulsan City's task in this investigation is to go beyond mere data collection and to establish objective criteria.These criteria should be documented to ensure that the same standards are applied to everyone.Only with established criteria can fairness be adequately explained.* This article has been translated by AI. 2026-08-18 14:00:00
  • Bonns Stock Plummets Over 15% Due to Delay in Half-Year Report Submission
    Bonn's Stock Plummets Over 15% Due to Delay in Half-Year Report Submission Bonn's stock has dropped over 15% following a delay in the submission of its half-year report due to external investigations and forensic procedures by external auditors.As of 1:20 PM on August 18, Bonn's shares were trading at 6,260 won, down 1,190 won (15.97%) from the previous trading day. The stock opened at 6,500 won and briefly rose to 7,140 won during the day before reversing gains and entering a downward trend.The sharp decline is attributed to Bonn's announcement of the delay in its half-year report submission.According to the Financial Supervisory Service's electronic disclosure system, Bonn explained that the delay was due to the need for the external auditor to complete its forensic procedures related to internal reports concerning company employees. This completion is necessary for management to fully assess any additional impacts on the financial statements.Under Article 160 of the Capital Markets and Financial Investment Business Act, all publicly listed companies are required to submit their half-year reports to the Financial Services Commission and the exchange within 45 days after the end of the reporting period. Bonn failed to meet the deadline, which was on August 14 this year.Bonn plans to submit its half-year report as soon as the external investigation and auditor's review procedures are completed. The company stated, "We will promptly disclose the half-year report and review report reflecting the auditor's opinion as soon as the ongoing external investigation and auditor's review procedures are completed at the request of our auditor."* This article has been translated by AI. 2026-08-18 13:56:10
  • KS Industry Shares Plunge 17% on First Day of Trading After 75% Capital Reduction
    KS Industry Shares Plunge 17% on First Day of Trading After 75% Capital Reduction Shares of KS Industry are experiencing a significant drop on the first day of trading following a 75% capital reduction. The decline is attributed to weakened investor sentiment after the company received an 'opinion rejection' from its auditor in its recently submitted semi-annual report. As of 1:42 PM on August 18, KS Industry's stock was trading at 700 won, down 151 won (-17.74%) from the previous trading day. The company had its trading suspended from July 24 to August 14 due to the capital reduction. The last trading price before the suspension was 311 won on July 23. The resumption of trading follows the 75% capital reduction, which KS Industry implemented by consolidating four common shares with a par value of 500 won into one share. The company cited the need to improve its financial structure by offsetting losses as the reason for the reduction. The drop in stock price is likely linked to the auditor's rejection of the opinion in the semi-annual report submitted on August 14. The auditor, Samil PwC, cited uncertainties regarding the company's ability to continue as a going concern. * This article has been translated by AI. 2026-08-18 13:56:00