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Gartner sees one in five firms pulling back on AI by 2028 as costs mount SEOUL, August 16 (AJP) - South Korean companies racing to embed artificial intelligence across their operations face a mounting threat that has little to do with the technology itself: the bill. By 2028, about one in five organizations worldwide will scale back or abandon AI in parts of their operations and return to conventional software development, unable to rein in runaway costs, according to research from Gartner. The retreat is expected to concentrate in areas where the return fails to justify the spend. The reversal marks a sharp turn from the early land-grab era, when leading developers dangled free or heavily discounted access to win market share. As the large language model market consolidates around a handful of dominant suppliers, flat monthly subscriptions are giving way to pay-as-you-go pricing, handing pricing power to vendors and leaving customers unable to forecast their final tab. The strain is already visible at the world's largest firms. Microsoft in May halted Claude Code licenses for thousands of internal staff and shifted them to its own GitHub Copilot, while Uber Technologies burned through its entire 2026 AI budget in about four months after urging some 5,000 engineers to lean on AI coding tools, later capping monthly spending at about $1,500 per person. A McKinsey survey of 75 companies in May found that 93 percent had blown past their AI budgets. Agentic AI, which chains together multiple reasoning steps, drives the steepest overruns. Such systems can consume up to 30 times more tokens than a standard chatbot on the same task, and a failed output that forces the model to reprocess everything from scratch can push consumption as high as 50 times, with most of the cost accruing not in the first attempt but in the grind of revisions. Gartner has urged firms to adopt "AI FinOps," a discipline for tracking spending and performance in real time, and warns that the divide between companies that master cost control and those that cannot could widen across entire industries. AJP Takeaways • Gartner forecasts that by 2028 about one in five organizations worldwide will scale back or abandon AI in parts of their operations and revert to conventional software development because of uncontrolled costs. • Uber Technologies exhausted its entire 2026 AI budget in about four months in 2026 and capped engineer spending at about $1,500 a month, while Microsoft dropped Claude Code for its own GitHub Copilot in May 2026 to contain expenses. • A McKinsey & Company survey of 75 companies conducted in May 2026 found that 93 percent of respondents had exceeded their AI budgets, underscoring how token-based pricing is reshaping enterprise AI economics. 2026-08-16 09:39:13 -
KLPGA and KPGA Support Youth Golf Aspirations with Special Programs The Korea Ladies Professional Golf Association (KLPGA) and the Korea Professional Golf Association (KPGA) have taken proactive steps to support the dreams and career exploration of young golfers.KLPGA successfully concluded the 'Dream Wings Class' in collaboration with Mediheal, SBS Golf, and World Vision on August 13 at the Montvert Country Club in Pocheon, Gyeonggi Province.'Dream with Buddy' is a donation program initiated in 2015 by KLPGA tour players, SBS, and Mediheal. Participating players contribute a set amount for each birdie made, which is then supplemented by Mediheal's donations and delivered to World Vision at the end of each year. This fund supports initiatives like the 'Dream Wings Club' project aimed at helping youth.The Dream Wings Class took place during the first round of the KLPGA Tour Mediheal-Hankook Ilbo Championship. Twenty-four students aspiring to careers in culture, arts, and sports participated, enhancing their understanding of the sports field. They learned golf rules and etiquette from Choi Hye-yong, coach of the Mediheal Golf Team, and explored various courses, including the Dream with Buddy hole, as part of their career exploration.KLPGA also contributes to society by donating charity funds to Good Neighbors and the Korean Red Cross, in addition to the Dream with Buddy program. Players are expected to engage in volunteer activities at the end of the year.Similarly, KPGA held a meaningful event to support the growth of young players. From August 11 to 13, KPGA hosted the '2026 KPGA Youth Golf Camp' at Oak Valley Country Club in Wonju, Gangwon Province.This year's camp, now in its third iteration, featured 20 KPGA tour players and 60 youth golfers from elementary, middle, and high schools. The camp was designed for young players to interact directly with professionals competing on the tour, gaining technical advice as well as insights into the mindset and attitude required of a player.On the first day, participants engaged in orientation, sports science assessments, and team challenges to foster camaraderie. Starting on the second day, they began actual rounds, teaming up with tour professionals to learn course strategies and game management up close. A talk concert held after the rounds provided a valuable opportunity for participants to ask professionals questions they had always wondered about.Notably, the event featured prominent players, including this season's first-half winners Choi Chan, Moon Dong-hyun, Oh Seung-taek, and Lee Sang-yeop, as well as past Genesis Award winners Moon Kyung-jun and Lee Tae-hee, who added prestige to the gathering.The KPGA Youth Golf Camp aims to expand the base of youth golf in South Korea and is supported by the Ministry of Culture, Sports and Tourism and the Korea Sports Promotion Foundation. KPGA plans to continue developing programs to foster the next generation of golfers.* This article has been translated by AI. 2026-08-16 09:04:20 -
KB Insurance Implements Fair Trade Compliance Program to Strengthen Internal Controls KB Insurance announced on August 16 that it is implementing a Fair Trade Compliance Program (CP) to enhance its internal control system. The company held a launch ceremony for the CP on August 13 at its headquarters in Yeoksam-dong, Gangnam, Seoul. The CP is an internal compliance system that provides employees with guidelines on fair trade practices and aims to prevent violations of related laws. KB Insurance plans to apply the CP across all business areas, including product development and sales, subcontracting and outsourcing management, and inter-company transactions. This initiative aims to proactively manage risks related to fair trade by integrating it with the existing internal control system. The company will also enhance its fair trade risk assessment framework. It will verify the fairness of insurance terms and advertising in advance and will conduct ongoing checks in high-risk areas, such as managing agency commissions and compliance with subcontracting laws for IT and claims adjustment outsourcing. The CEO has granted the compliance manager, reporting directly to him, independent authority for investigations and corrections. A commitment to practice the CP has also been made by all employees. A KB Insurance representative stated, “By combining our existing internal control capabilities with the Fair Trade Compliance Program, we aim to enhance risk management effectiveness and establish a culture of fair competition.”* This article has been translated by AI. 2026-08-16 09:04:10
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21 Buyers Withdraw from Magok 17 Complex Amid Controversy Over Loan Limit Twenty-one buyers have reportedly withdrawn from the Magok M Valley 17 land lease housing complex in Seoul, which is set to open at the end of this month. Winners of the lottery are expressing difficulties in securing financing due to the application of a loan limit exemption, but it remains unclear how many of those who withdrew did so specifically because of loan issues.The Seoul Housing and Communities Corporation (SH) stated on August 14 that it has identified approximately 21 contract cancellations. Including these withdrawals, the total number of individuals who have exited the contract process, including disqualifications, is around 71.The core of the controversy revolves around the 'loan limit exemption' applied to land lease housing. This exemption is designed to protect the priority repayment amount for tenants in the event of a foreclosure, by excluding that amount from the loan limit.The Magok 17 complex, located in the Magok district of Gangseo-gu, Seoul, is a land lease housing project where the land is publicly owned, and buyers only purchase the building. The selling price for a 59-square-meter unit ranges from approximately 290 million to 340 million won, making it significantly cheaper than typical apartments, hence the nickname 'half-price apartments.'Prospective residents argue that the 55 million won loan limit exemption places a relatively heavy burden on them, given the lower selling price. They particularly question the fairness of applying the same exemption, which is intended to protect tenants, to a project with a five-year residency requirement.Currently, under the loan-to-value (LTV) ratio of 60%, the 55 million won exemption reduces the actual loan amount available for a 59-square-meter unit to approximately 120 million to 150 million won, requiring winners to provide around 170 million to 190 million won in personal funds.The government introduced financial support measures in 2022, including a maximum LTV of 80% and a loan limit of up to 500 million won for the shared public sale program. The Magok 17 complex had a pre-reservation process in September 2023, but due to tightened household debt management, the current applicants are subject to a 60% LTV and the loan limit exemption. Winners argue that it is inequitable for loan conditions to vary based on the application date, even for the same complex and unit type.Prospective residents are demanding at least the exemption be removed. They contend that since land lease housing has a lower selling price, applying the same 55 million won exemption as for regular housing contradicts the purpose of the system.In general, mortgage loans can sometimes be obtained without deducting small tenant security deposits when using mortgage credit guarantees. However, the loans available to applicants of the Magok 17 complex do not include such guarantees, resulting in the application of the 55 million won exemption.An SH official stated, 'Because land lease housing has a lower selling price, the burden of the loan limit exemption may feel relatively heavier than for other housing types. We believe that the exemption from the loan limit is necessary for public sale housing, which has a five-year residency requirement and a ten-year resale restriction.' The official added that they are continuously urging the Ministry of Land to relax loan conditions for applicants.In contrast, the Ministry of Land and Transport maintains that it is difficult to make exceptions to the loan limit exemption. A ministry official stated, 'The loan limit exemption is legally applicable to everyone, so there cannot be exceptions.' The official further explained, 'All housing, including land lease housing, is subject to the loan limits in place at the time, and since land lease housing is not handled by commercial banks, funding must align with the products created by government policy.'* This article has been translated by AI. 2026-08-16 09:04:00
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Bukwang Pharmaceutical's Subsidiary Requests Closure of Rehabilitation Process Korea Union Pharmaceutical, a subsidiary of Bukwang Pharmaceutical, has completed most of its rehabilitation claims and has applied to the court for the closure of its rehabilitation process.Bukwang Pharmaceutical announced on August 16 that Korea Union Pharmaceutical has requested the Seoul Rehabilitation Court to approve the closure of its rehabilitation process.Korea Union Pharmaceutical began its rehabilitation process in September of last year and, after undergoing restructuring and financial improvement efforts, received approval for its rehabilitation plan in May of this year.On May 27, Bukwang Pharmaceutical became the largest shareholder of Korea Union Pharmaceutical by fully paying 30 billion won for new shares. Following this, it proceeded with changes in rights and the repayment of rehabilitation secured claims as per the approved rehabilitation plan.The rehabilitation secured claims were mostly settled in cash. The rehabilitation claims were divided into equity conversion (67.65%) and cash repayment (32.35%), with most interest waived since the initiation of the process, and the rights to existing convertible bonds (CB) and bonds with warrants (BW) expired as of the approval date.This year, Korea Union Pharmaceutical has completed repayment of most of its debts, totaling 29.21 billion won, excluding 76 million won in some unconfirmed claims. Consequently, it has applied to the Seoul Rehabilitation Court for the closure of its rehabilitation process under the Debtor Rehabilitation and Bankruptcy Act.A representative from Bukwang Pharmaceutical stated, "By investing 30 billion won in new shares, we have resolved the financial uncertainties of Korea Union Pharmaceutical and diligently executed the debt repayments as per the rehabilitation plan." They added, "Following the closure of the rehabilitation process, Korea Union Pharmaceutical's debt ratio has improved to the 40% range."The representative further noted, "All past unpaid trade receivables, borrowings, and bonds with warrants have been settled, and currently, only normal claims such as trade payables and return provisions remain, effectively bringing the debt ratio to about 15%. We plan to promptly disclose the court's closure decision and accelerate management normalization and business synergy between the two companies."Meanwhile, through the acquisition of Korea Union Pharmaceutical, Bukwang Pharmaceutical is expected to enhance its production competitiveness by securing a production line for injectable drugs and antibiotic products. The Korea Union Pharmaceutical factory, which received Good Manufacturing Practice (GMP) certification in 2020, is a state-of-the-art facility, and the company anticipates a roughly 30% increase in its pharmaceutical production capacity following the acquisition.* This article has been translated by AI. 2026-08-16 09:04:00
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Toss Surpasses 10,000 Mini Apps on Appintos One Year After Launch 토스의 미니앱 플랫폼 ‘앱인토스’가 출시 1년 만에 제휴 미니앱 1만개를 넘어섰다. 토스 운영사 비바리퍼블리카는 앱인토스의 제휴 미니앱 수가 1만개를 돌파했다고 16일 밝혔다. 지난해 7월 정식 출시 당시 100여개였던 미니앱은 올해 2월 1000개, 6월 5000개를 넘어선 데 이어 최근 1만개까지 늘었다. 이용자 규모도 빠르게 확대됐다. 앱인토스의 월간활성이용자수(MAU)는 400만명을 기록했다. 3000만명이 넘는 토스 이용자를 기반으로 외부 서비스 유입이 이어지면서 미니앱 이용이 일상적인 서비스 이용 방식으로 자리 잡고 있다는 설명이다. 특히 전체 파트너의 67%가 1인 메이커로 나타났다. 파트너 계정의 63%에서 매출이 발생했으며 1인 메이커 가운데서도 절반 이상이 수익을 냈다. 토스는 이용자 기반과 개방형 플랫폼 구조가 소규모 제작자의 서비스 출시와 성장에 도움이 됐다고 설명했다. 실제 1인 창업자와 소규모 팀이 앱인토스를 통해 이용자를 확보한 사례도 나타났다. 카드 혜택 미니앱 ‘피카’와 운세 기반 고민 상담 서비스 ‘자몽다’ 등이 대표적이다. 토스는 미니앱 확대와 함께 플랫폼 운영 기준도 강화하고 있다. 지난달부터 입점 검수 기준과 절차를 보완하고 민감한 주제를 조롱이나 점수화 등과 결합한 서비스에 대해서는 보다 엄격한 기준을 적용하고 있다. 시스템과 전담 인력이 함께 검수하는 이중 체계도 강화했으며 기존 미니앱에 대해서도 재검수를 진행하고 있다. 토스 관계자는 “플랫폼의 책임감을 갖고 ‘문은 열어두되 기준은 계속 높인다’는 원칙 아래 여러 겹의 안전장치로 개방형 플랫폼의 리스크 간극을 최대한 좁혀 나가겠다”며 “1만개가 넘는 서비스가 어우러진 오픈 생태계를 더욱 키워 혁신 창업자들이 도전하고 성장하는 플랫폼으로 자리매김하겠다”고 말했다.* This article has been translated by AI. 2026-08-16 09:04:00
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Sensl's 'Mute Cream Perfume': A Convenient Daily Fragrance Mornings can be hectic, making it easy to overlook makeup and fragrance while preparing for work. As a result, many find themselves reaching for their cosmetic pouches at the office.Currently, I carry Sensl's 'Mute Cream Perfume' in my pouch. True to its name, this cream-based fragrance is small and lightweight, making it easy to carry. Packaged in an aluminum tube similar to hand cream, it is less likely to break if squeezed or dropped. It can be attached to a keyring for quick access when needed.What I appreciated most was its application method and formulation. Instead of spraying, you simply apply it to your desired area. This allows for discreet use without overwhelming those around you, making it easy to add a touch of fragrance whenever you like. The formulation is also impressive. The transparent cream applies smoothly, defying expectations of heaviness or stickiness. According to the product description, it features a 'silk balm texture' that holds the fragrance well.When applied, it melts into the skin with body heat, leaving no sticky or greasy residue. After applying, my wrists feel comfortable, allowing for easy reapplication throughout the day.Above all, it stays true to the essence of a fragrance. The 'scent' is well-executed. My go-to variant, 'First Minute,' releases a sweet and fresh aroma of orange and peach upon application. The description of 'a fresh floral for the first moments of the day' is spot on.As time passes, the scent evolves into a fresh grass and subtle floral aroma reminiscent of walking through a rain-soaked garden. Overall, the fragrance is light and refreshing, making it suitable for those new to using perfumes.For anyone looking to add a small change to their daily routine or enjoy a light fragrance, Sensl's Mute Cream Perfume is an excellent choice.* This article has been translated by AI. 2026-08-16 09:04:00
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Anthropic Reports 14.6-Fold Revenue Surge in Q2, First-Ever Adjusted Operating Profit Anthropic, the developer of the AI chatbot Claude, reported a 14.6-fold increase in revenue for the second quarter, marking its first-ever quarterly adjusted operating profit since its founding.On August 15, Bloomberg News reported that Anthropic informed investors that its preliminary revenue for the second quarter exceeded $11.5 billion (approximately 16.2 trillion won). This figure is 14.6 times higher than the $787 million reported during the same period last year and more than double the $4.73 billion from the previous quarter.Profitability has also improved, with adjusted operating profit, excluding one-time costs, turning positive for the first time in the company's history. However, specific profit figures were not disclosed.The surge in revenue is attributed to rapidly increasing demand for Claude in the enterprise and professional markets, particularly driven by coding tools and AI services for business automation.Annualized revenue, calculated based on recent sales trends, surpassed $47 billion in May, up from about $9 billion at the end of last year, reflecting more than a fivefold increase in just a few months.Anthropic anticipates continued high growth through 2028. According to Reuters, the company has projected revenues between $190 billion and $200 billion (approximately 268 trillion to 282 trillion won) by 2028.In June, Anthropic submitted confidential documents for an initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC) as part of its preparations for going public.* This article has been translated by AI. 2026-08-16 08:24:00
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Iran Claims Three Pilots Held by Qatar for Six Months, Qatar Denies Allegations Iran has claimed that three of its fighter pilots, who were shot down in Qatar in March, are being held by the Qatari military. Qatar has immediately denied these allegations.On August 15, the Iranian military's Missing Persons Committee stated that "three of the four occupants of two Su-24 bombers shot down in March have been captured by the Qatari military and have been detained for about six months," urging for their release.In a public letter sent to the International Committee of the Red Cross (ICRC), Iran alleged that Qatar has not allowed the families of the pilots to meet or communicate with them. The pilots are identified as Javad Salehi, Abdolmajid Dashtian, and Omran Behraveshian.Qatar has categorically denied Iran's claims. Majed Al-Ansari, a spokesperson for the Qatari Foreign Ministry, stated on X (formerly Twitter) that "we are not holding any surviving Iranian pilots."Al-Ansari explained that the Iranian aircraft were shot down after entering Qatari airspace and failing to respond to warnings. He added that during the search and rescue operation, the remains of one pilot were found, and discussions were held with Iran for repatriation.Qatar claimed it invited Iran to discuss the search and rescue situation in April but did not receive a response.Earlier, Qatar announced that its air force shot down two Iranian Su-24 bombers on March 2, during the early stages of the Iran war, while the Iranian military was reportedly conducting operations targeting the Al Udeid Air Base in Qatar.* This article has been translated by AI. 2026-08-16 08:16:00
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Weather Alert: Heavy Rain Expected Nationwide, Up to 250mm in South Gyeongsang On Sunday, the 16th, the weather across the country is expected to be mostly cloudy with rain. Heavy rain accompanied by strong winds, thunder, and lightning is particularly anticipated in the southern regions and Jeju Island. The central region is likely to see a temporary lull in rain starting in the afternoon.According to the Korea Meteorological Administration, as of 7 a.m. on this day, heavy rain warnings have been issued for Jeonnam, Gyeongnam, and Jeju. The southwestern coast of Jeonnam is experiencing very heavy rainfall of 30 to 50 mm per hour, with some areas exceeding 50 mm.Rain is also expected to continue in Seoul and the surrounding metropolitan area. The forecast for Seoul, Incheon, Gyeonggi, and the five islands in the Yellow Sea from the 16th to the 17th is 20 to 60 mm. However, many areas in the central region, including the metropolitan area, are expected to see a break in rain starting in the afternoon.From 9 p.m. the previous day until 7 a.m. on the 16th, cumulative rainfall recorded includes 132.8 mm in Samho, Yeongam, 131.5 mm in Suyeong, Jindo, and 128.1 mm in Mokpo. Jeju's Jindallaebat also received 137.5 mm of rain.Rain is expected to continue in most areas of the country until the morning of the 17th, with some places in Jeju experiencing rain until the evening of the 17th.From the 16th to the 17th, the forecast for the inland and mountainous areas of Gangwon and the Chungcheong region is 20 to 60 mm. In the central and southern parts of North Chungcheong, over 80 mm is expected. Gwangju and Jeonnam are forecasted to receive 50 to 100 mm, while the eastern coastal areas of Jeonnam may see over 200 mm.In the western coastal areas of Gyeongnam and near Jirisan, 100 to 200 mm of rain is expected, with some areas possibly exceeding 250 mm. Busan, Ulsan, and other parts of Gyeongnam are forecasted to receive 50 to 150 mm, with the central coastal areas of Busan and Gyeongnam expecting over 200 mm. Daegu and North Gyeongsang are expected to see 50 to 100 mm, while Jeju is forecasted to receive 30 to 80 mm.In particular, heavy rain of 20 to 50 mm per hour is possible in the southern regions and Jeju, with some areas potentially experiencing over 70 mm per hour. The Korea Meteorological Administration advises caution against flooding in low-lying areas, river overflow, and landslides, and urges people to refrain from using riverside walking paths and underground passages.The expected high temperature for the day is between 24 and 30 degrees Celsius. While Seoul may reach up to 30 degrees, Busan, Ulsan, and Gyeongnam are expected to remain between 24 and 26 degrees.* This article has been translated by AI. 2026-08-16 08:08:00