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  • Woowa Brothers Releases New Book on Backend Development
    Woowa Brothers Releases New Book on Backend Development Woowa Brothers, the operator of Baedal Minjok, announced the release of a new book titled 'Recent Elegant Backend Development' on August 13. This book compiles the real-world experiences of backend developers from Woowa Brothers' technology blog, organized by topic. It delves into the challenges and solutions faced by developers in managing architecture, traffic, data consistency, external integrations, and incident responses while operating a large-scale service like Baemin.Backend development involves building and maintaining the core systems that ensure seamless operation of services, including order processing, payment, server management, and data handling.The book is divided into six sections: 1) Architectural challenges faced by Woowa, 2) Managing large-scale traffic, 3) Handling data, 4) Enhancing business outcomes through technology, 5) Experimenting with new possibilities using AI, and 6) Elegantly solving problems. It covers a wide range of topics from technical challenges to business and AI applications.Previously, Baedal Minjok published two other books related to its technology blog content: 'Recent Elegant Development' and 'Recent Elegant AI Development.'Ko Myung-seok, Chief Technology Officer of Woowa Brothers, stated, "I hope this book, which contains the insights and trials of our backend development journey, serves as a small milestone for developers on similar paths. We will continue to contribute to the growth of the domestic IT industry through active knowledge sharing."* This article has been translated by AI. 2026-08-13 15:40:00
  • Japanese Investors Gain Access to U.S. Stocks During Tokyo Trading Hours
    Japanese Investors Gain Access to U.S. Stocks During Tokyo Trading Hours Japanese individual investors will be able to buy and sell U.S. stocks in real-time during Tokyo trading hours starting in December. Major U.S. stock exchanges are extending their trading hours to 23 hours a day, prompting large online brokerages in Japan to launch weekly trading services. This change means that Japanese stocks and U.S. stocks will compete in the same time frame. Concerns have arisen that younger investors, who are particularly interested in U.S. big tech companies, may shift away from Japanese stocks.According to the Nihon Keizai Shimbun (Nikkei) on August 13, SBI Securities, Rakuten Securities, Monex Securities, and Matsui Securities plan to introduce trading services for U.S. stocks during the day starting December 6, when U.S. exchanges extend their trading hours. Mitsubishi UFJ e-Smart Securities is also considering a phased introduction of the service after assessing demand. The stocks available for trading will include those listed on the New York Stock Exchange and NASDAQ.A survey of 20 major Japanese securities firms by Nikkei found that nine of the 19 responding firms either plan to introduce or are considering introducing weekly trading services for U.S. stocks. Rakuten Securities will extend its trading hours from the current 16 hours, including after-hours trading, to 23 hours. Matsui Securities will also expand its trading hours from 6 PM to 6 AM the following day to 11 AM to 10 AM the next day, based on U.S. daylight saving time. PayPay Securities, which has allowed 24-hour trading of U.S. stocks, will revamp its system to offer services starting on the first day of the new 23-hour trading.In contrast, firms focused on face-to-face sales are more cautious. Only three firms—Okasan, Tokai Tokyo, and Mito Securities—indicated they are considering introducing the service. SMBC Nikko Securities and Ichiyoshi Securities stated they currently have no plans to implement it, while Nomura, Daiwa, and Mizuho Securities are still evaluating whether to proceed. Extending trading hours would require significant changes to core IT systems and adjustments in staff allocation. Since many customers are institutional investors, it is difficult to predict whether the costs incurred will yield sufficient returns.The expansion of services by Japanese brokerages has been made possible by the significant extension of night trading hours on major U.S. exchanges. Currently, the regular trading hours for U.S. markets are from 9:30 AM to 4 PM Eastern Time. This is supplemented by pre-market trading (from 4 AM) and after-hours trading (until 8 PM), totaling 16 hours, which translates to 6 PM to 10 AM the following day in Japan. The remaining eight hours, which correspond to midnight in the U.S. and daytime in Asia, have seen major exchanges closed. Starting December 6, this gap will be filled with night trading, allowing for 23 hours of trading, excluding one hour for system maintenance. In Japan, this will mean trading from 11 AM to 10 AM the next day. However, there are concerns that lower liquidity during night trading could lead to greater price volatility.In South Korea, weekly trading of U.S. stocks has already become commonplace. Eighteen domestic brokerages offer services that allow investors to buy and sell U.S. stocks during daytime hours in Korea through alternative trading systems. Japanese brokerages are thus entering the weekly trading market later than their South Korean counterparts. However, the difference lies in the fact that Japan's service expansion is directly tied to the U.S. exchanges extending their trading hours.Potential Outflow of Funds from Japanese Stock MarketNikkei pointed out that the extension of trading hours could lead to an outflow of individual funds from the Japanese stock market. Until now, Japanese individual investors have divided their trading between Japanese stocks during Tokyo's daytime hours and U.S. stocks during the nighttime hours when U.S. markets are open. In the future, they will be able to invest in U.S. stocks like NVIDIA and Apple while trading Toyota and Sony in real-time. Yuji Gusunoki, president of Rakuten Securities, predicted that once 23-hour trading begins, "some young investors who have been investing in Japanese stocks will shift to U.S. stocks."Even before the introduction of 23-hour trading, the volume of overseas stock trading by Japanese individual investors has been rapidly increasing. According to the Japanese Ministry of Finance, the trading volume of overseas stocks through investment trusts reached 77 trillion yen (approximately $686 billion) last year, nearly double that of five years ago. The popularity of funds that diversify investments across global stocks has contributed to this increase. While the Japanese government is promoting individual investment through the introduction of the new NISA (small investment tax exemption system) in 2024, some of the funds attracted by this system are flowing into overseas assets like U.S. stocks.The allure of the U.S. stock market is also growing. In June, Japanese investors flocked to the IPO of SpaceX on NASDAQ, and upcoming IPOs of major tech companies like OpenAI are also anticipated.Trading conditions for Japanese stocks are less favorable. U.S. stocks can be purchased in single shares, while Japanese stocks are typically sold in units of 100 shares, requiring a significant investment for high-priced stocks. The trading hours for the Tokyo Stock Exchange are also limited to 5 hours and 30 minutes, from 9 AM to 3:30 PM, excluding lunch breaks. Whether the Tokyo Stock Exchange will improve this trading environment remains to be seen. The decision by smartphone payment company PayPay to choose NASDAQ over the Tokyo Stock Exchange for its listing in March has raised concerns about the competitiveness of Japan's capital markets.Nikkei warned that if the 23-hour trading of U.S. stocks exacerbates the hollowing out of Japan's capital market, it could counteract the Japanese government's "asset management nation" policy, which aims to channel household savings into the investment market to grow Japanese companies and capital markets. As Japanese companies will need to compete for individual investors' choices against U.S. firms in the same time zone, the differentiation between Japanese stocks will likely become more pronounced.* This article has been translated by AI. 2026-08-13 15:36:10
  • South Korea to Add 230,000 Homes in Greater Seoul Area Amid Housing Crisis
    South Korea to Add 230,000 Homes in Greater Seoul Area Amid Housing Crisis The South Korean government plans to secure an additional 230,000 homes in the Greater Seoul area, expanding its existing housing supply plans. This initiative includes acquiring new public land and expediting the start of existing projects, such as the third phase of new towns and redevelopment efforts, while also mobilizing urban and non-apartment housing supply.On August 13, President Lee Jae-myung chaired a senior secretary meeting at the Blue House, stating, "The real estate issue is a ticking time bomb threatening the lives of our citizens and the future of our nation." He noted that since 2022, there has been a significant reduction in permits and construction starts, leading to an unavoidable supply crisis.President Lee emphasized the need to accelerate the supply process. He urged, "All permit procedures should be shortened as much as possible, and land acquisition should not be hindered by existing regulations. If necessary, we must dramatically secure land by amending laws and systems to boost supply."On the same day, the government unveiled new supply measures. According to the Ministry of Land, Infrastructure and Transport, the additional supply effect in the Greater Seoul area from this plan is 230,000 homes. This includes 160,000 homes from public land and additional supply through urban development and improvements in private regulations and taxation.Minister of Land, Infrastructure and Transport Kim Yoon-deok stated, "We will enhance the implementation and speed of existing measures, such as the 9-7 plan, and supply more than 230,000 homes in the Greater Seoul area. We will minimize the time lag between policy announcements and supply."The government will first announce 100,000 new public housing sites in preferred areas of the Greater Seoul region by the end of the year. Initially, 27,000 homes will be disclosed in three locations: Gangseo in Seoul, Namyangju, and Gwangju in Gyeonggi Province, with an additional 73,000 homes to be announced later this year.The schedule for existing public land supply will also be significantly expedited. The start of construction for 89,000 homes in the third phase of new towns and other areas will be reduced by one to two years, with 41,000 of those homes originally scheduled to begin after 2031.The government will also overhaul project procedures. Currently, it takes an average of 68 months from the announcement of candidate sites for the third phase of new towns to the start of construction, but this will be shortened to 37 months, a reduction of 31 months.Designations for districts will be reduced from 12 months to 4 months, planning from 24 months to 13 months, and land acquisition processes from 44 months to 24 months. A specialized model will also be introduced to allow construction to begin in as little as 21 to 34 months, depending on the proportion of public land and project size.The government will expedite redevelopment and maintenance projects in urban areas. It aims to support the normal start of 234,000 housing units in the Greater Seoul area by 2030.The approval rate for redevelopment association establishment will be lowered from 75% to 70%, and the approval rate for public redevelopment and reconstruction project implementers will be eased from 67% to 60%. The re-bidding process will also be simplified if a construction bid fails due to a single bidder.In the second half of the year, the government will select additional candidate sites for urban public housing projects in Seoul, aiming to start 51,000 homes in the Greater Seoul area by 2030. It will also initiate 4,200 homes in small-scale maintenance projects and push for 140,000 homes in public rental housing by 2030.Non-residential land within public land will be converted to housing, with a total of 490,000 square meters being repurposed to start 30,000 homes by 2030. Of this, approximately 14,300 homes will be newly identified through this plan.To expand non-apartment housing supply, the construction area limit for multi-family and multi-household homes will be raised from 660 square meters to under 1,000 square meters, and the number of floors for multi-household homes will be allowed to increase from three to four. The government aims to support the construction of 130,000 general housing units in the Greater Seoul area by 2030 through these regulatory relaxations.In addition to increasing supply, the government will diversify housing types. About 15% of public sales will be offered in forms that require lower initial payments, such as shared equity or profit-sharing models, and a new universal public rental system will be introduced for long-term residents. Long-term public support for private rentals and universal lease rentals for youth will also be established.The government will address the "marriage penalty," which disadvantages couples in loans and applications. President Lee stated, "When single, men and women had separate opportunities, but when they come together, it becomes less. This is unreasonable," and called for a comprehensive review of related systems.The government will change the income requirements for housing loans, such as the Bogumjari Loan, Didiimdol Loan, and Butimok Loan, from a combined couple's income to allowing support if either spouse meets the general income criteria.President Lee urged that the measures announced should not be seen as final conclusions but should be adjusted according to market conditions. He said, "We must boldly gather opinions from citizens, experts, opposition parties, and the political community to create practical measures that fit the real lives of the people."The government will also provide financial support to connect supply expansion with actual construction. The public guarantee supply target for HUG and HF will be increased from 23 trillion won this year to 33 trillion won next year, and projects that begin construction early in Seoul and Gyeonggi will receive support for PF interest and guarantee fees. However, the government plans to maintain existing management policies regarding speculative loans, such as LTV and DSR, while releasing funds necessary for housing supply and actual demand.Minister Kim stated, "To ensure housing stability for the public, it is crucial to establish a solid supply base. We will promptly implement what the public sector must do and boldly support areas where the private sector excels."* This article has been translated by AI. 2026-08-13 15:36:00
  • HMM Reports 52% Increase in Q2 Operating Profit to 354.1 Billion Won
    HMM Reports 52% Increase in Q2 Operating Profit to 354.1 Billion Won HMM reported strong performance in the second quarter of 2026, driven by rising maritime freight rates and improved fleet operational efficiency.On August 13, HMM announced that it achieved a revenue of 3.402 trillion won and an operating profit of 354.1 billion won for the second quarter, marking increases of 30% and 52%, respectively, compared to the same period last year. For the first half of the year, the company recorded revenues of 6.12 trillion won and an operating profit of 623.2 billion won, with an operating profit margin of 10.2%.The strong results were attributed to a surge in maritime freight rates. The ongoing conflict in the Middle East and risks such as the blockade of the Strait of Hormuz have led to a significant increase in global shipping costs. The Shanghai Containerized Freight Index (SCFI) averaged 1,957 points in the first half of this year, a 15% rise from the average of 1,701 points in the same period last year.Despite rising fuel costs and supply chain uncertainties due to the prolonged conflict in the Middle East, HMM stated that it has defended its profitability through efficient fleet operations.The company anticipates that supply chain uncertainties will continue in the second half of the year, citing external factors such as U.S. tariff policies, disruptions in the Panama Canal, congestion at major ports, and the ongoing Middle East conflict.HMM plans to continue its large-scale investments despite these uncertainties. Recently, it expanded its long-term strategic investment plan for 2030 to approximately 29 trillion won. A company representative stated, "This investment is not merely for expansion but is a proactive measure based on predictions for the market in 2 to 3 years. In a situation where global shipping prices are continuously rising, securing vessels at relatively lower prices now is a strategic investment aimed at maximizing future profits and ensuring sustainable growth."Meanwhile, HMM is accelerating its headquarters relocation process, having finalized a lease agreement for four floors of the DB Insurance building in Busanjin-gu, Busan, last month.* This article has been translated by AI. 2026-08-13 15:36:00
  • Bank Loan Fraud Exposes Weaknesses in Lending Review Systems
    Bank Loan Fraud Exposes Weaknesses in Lending Review Systems 주요 은행에서 외부인이 허위 자료 등을 이용해 대출을 받아낸 금융사고가 잇따르면서 은행권 여신심사 시스템이 다시 시험대에 올랐다. 그동안 직원 횡령·배임 등 내부 금융사고를 막기 위한 통제를 강화해 왔지만 이번에는 외부인이 대출 심사망을 뚫는 방식의 사고가 반복되고 있다. 여러 은행에서 비슷한 사고가 발생하고 사고 금액도 뒤늦게 커지면서 대출 실행 전 검증과 사후관리 체계를 재점검해야 한다는 지적이 나온다. 13일 금융권에 따르면 KB국민·신한·우리·IBK기업은행은 지난 12일 외부인에 의한 사기로 금융사고가 발생했다고 공시했다. 국민은행에서는 신규 사고가 확인됐고 신한·우리·기업은행은 기존에 파악했던 사고 금액을 높여 정정 공시했다. 4개 은행의 사고 금액만 약 490억원에 달한다. 수사가 진행 중인 만큼 사고 금액이 더 늘어날 가능성도 있다. 이번 사고는 은행 임직원이 돈을 빼돌리거나 부당하게 대출을 내준 기존 횡령·배임 사고와는 성격이 다르다. 외부인이 허위 자료 등을 정교하게 꾸며 정상적인 차주처럼 대출 심사를 통과했다는 점에서다. 금융권에서는 금융사고가 내부 직원의 일탈을 넘어 여신심사 절차 자체를 노리는 외부 사기로 고도화되고 있다는 분석이 나온다. 실제 금융사기는 금융권에서 가장 빈번하게 발생하는 금융사고 유형이다. 강민국 국민의힘 의원실이 금융감독원에서 제출받은 자료에 따르면 2020년부터 올해 4월까지 전 금융업권에서 발생한 금융사고 609건 가운데 금융사기가 253건으로 가장 많았다. 은행들은 대규모 금융사고가 반복되자 임직원별 내부통제 책임을 명확히 하고 이상 거래 탐지 시스템도 강화해 왔다. 다만 은행권에서는 외부인이 정교하게 위조한 자료를 이용해 조직적으로 대출을 신청하면 개별 영업점 심사만으로 이를 모두 가려내는 데 한계가 있다고 설명한다. 그렇다고 외부 사기를 은행 밖 문제로만 돌리기 어렵다는 지적도 나온다. 여러 은행에서 유사한 사고가 반복되고 사고 금액마저 사후 조사 과정에서 계속 늘고 있기 때문이다. 대출 실행 단계에서 제출 서류와 차주의 거래 실체를 충분히 검증했는지, 대출 이후 이상 징후를 적시에 포착했는지 등을 점검할 필요가 있다는 것이다. 특히 사고 수법이 빠르게 진화하는 만큼 직원 중심 내부통제에서 벗어나 여신심사 자체를 보완해야 한다는 목소리가 커지고 있다. 개별 영업점 심사에만 의존하기보다 본점 차원의 이상 징후 분석과 외부 데이터 교차 검증 등을 통해 허위 자료나 비정상적인 대출 신청을 사전에 걸러내는 체계를 강화해야 한다는 것이다. 금융권 관계자는 "여러 은행에서 유사한 사고가 반복되고 있다는 것은 은행권 전반에 걸쳐 심사 시스템을 다시 점검해야 한다는 의미"라며 "사후 책임을 강화하는 데 그치지 않고 대출 실행 단계부터 이상 징후를 탐지할 수 있는 실질적인 예방책이 필요하다"고 지적했다. 2026-08-13 15:36:00
  • Uiwang Mayor Kim Seong-je declares partnership among seven central cities
    Uiwang Mayor Kim Seong-je declares partnership among seven central cities Uiwang Mayor Kim Seong-je stated on August 13 that "the seven cities in the central region are partners who will share and resolve the issues facing each area together," emphasizing his commitment to fostering cooperation that citizens can truly feel.The Gyeonggi Central Administrative Council held its 95th regular meeting at Megazone Cloud in Gwacheon, where members elected a president and discussed common issues among the central cities.During the meeting, Mayor Kim was elected as the first president of the 9th term of the Gyeonggi Central Administrative Council, marking the beginning of collaborative efforts among the seven cities.Attendees included Mayor Kim, Mayor Maximo of Anyang, Mayor Lim Byeong-taek of Siheung, Mayor Han Dae-hee of Gunpo, Mayor Shin Gye-yong of Gwacheon, Deputy Mayor Heo Nam-seok of Ansan, and Deputy Mayor Choi Hye-min of Gwangmyeong.As the newly elected president, Mayor Kim will play a key role in strengthening the cooperative framework for sharing and jointly addressing the issues faced by the seven cities.The meeting, chaired by Mayor Kim, focused on five key agenda items: improving the dual management and support structure of the autonomous crime prevention teams, jointly reviewing and promoting the transition to a cashback system for local currency, and establishing a cooperative framework for enhancing the efficiency of public services closely related to daily life.Notably, this meeting was significant as it aimed to connect the policies and issues that local governments have pursued individually with improvements at the central government and Gyeonggi Province levels.The council plans to jointly propose the approved agenda items to the central government and Gyeonggi Province.Local citizens have expressed growing expectations regarding Mayor Kim's election as president.Citizens are particularly positive about Uiwang's more active role in resolving common issues in the Gyeonggi Central region.They hope that this election will not only expand the role of the council but also serve as an opportunity for multiple cities to collaboratively address issues related to transportation, housing, local economy, and public services that directly impact their daily lives.Additionally, they voiced the need for Uiwang to share its citizen-centered administrative practices and successful policies with other central cities to broaden regional development.Mayor Kim also stated his intention to align the council's operations with the principle of 'practical cooperation.'As a result, attention is focused on how the 9th term of the Gyeonggi Central Administrative Council will lead to joint projects and system improvements that citizens can feel, beyond mere policy sharing among cities.Furthermore, Mayor Kim emphasized the importance of identifying substantive agenda items that can genuinely assist each region, moving beyond formal proposals to the central government. He added, "We will actively share the best practices of each city and build a cooperative framework that allows the seven cities to develop together." 2026-08-13 15:32:00
  • NCT 127 to appear on Americas Got Talent
    NCT 127 to appear on 'America's Got Talent' SEOUL, August 13 (AJP) - K-pop boy group NCT 127 will appear as a special guest on NBC's "America's Got Talent" next week, adding a high-profile U.S. television stage to the rollout of its upcoming seventh full-length album, "BLINGY," SM Entertainment said Thursday. The group is set to perform during the live broadcast on Aug. 19, U.S. time, at the Pasadena Civic Auditorium in Pasadena, California. The performance comes five days before "BLINGY" arrives on Aug. 24, putting NCT 127 in front of a mainstream American audience just as the album cycle begins. "America's Got Talent," now in its 21st season, remains one of NBC's marquee entertainment franchises, spotlighting acts across singing, dance, comedy and other categories. NCT 127 will follow the AGT appearance with a performance at KCON LA, extending a run of U.S. stages tied to the comeback. The group had already built anticipation stateside with outdoor ad campaigns in New York and Los Angeles in July that drew notice on X, formerly Twitter. "BLINGY" will be released on streaming platforms at 6 p.m. KST on Aug. 24, with nine tracks including the title song "Blingy." SM describes the record as built around a sense of unshaken confidence, citing two tracks in particular. "Legacy" pairs aggressive drums and distorted bass with layered choir vocals, rapid-fire rap and melodic singing, carrying a message of spreading positive energy from Seoul, the group's home base. "Step Up," meanwhile, leans into a '90s-style old-school hip-hop groove, with lyrics about pushing through chaos and crisis on the group's own terms. Since Aug. 12, NCT 127 has been rolling out "ASSEMBLE!" concept content on its social media, mixing glimpses of the members' everyday lives with the chemistry among its five members. A physical edition of "BLINGY" will be released alongside the digital version on Aug. 24 and is currently available for preorder at online and offline retailers. AJP Takeaway · NCT 127 will appear as a special guest on NBC's "America's Got Talent" on Aug. 19, U.S. time, ahead of its Aug. 24 comeback. · The AGT appearance adds a mainstream U.S. television stage to the rollout for the group's seventh full-length album, "BLINGY." · "BLINGY" includes nine tracks, led by title song "Blingy," and will be released digitally and physically on Aug. 24. 2026-08-13 15:29:48
  • Satellite antenna maker jumps 41% in KOSDAQ debut
    Satellite antenna maker jumps 41% in KOSDAQ debut SEOUL, August 13 (AJP) — Shares of South Korean satellite communications equipment maker KNS Inc. surged on their KOSDAQ debut Thursday, trading more than 40 percent above their initial public offering price. The stock was trading at 15,480 won ($10.93) as of 2:37 p.m., up 40.73 percent from its IPO price of 11,000 won. It more than doubled to an intraday high of 24,600 won before giving back some of the gains. The strong debut comes as the company expands from commercial maritime equipment into defense-related satellite systems. Founded in 2001, KNS develops equipment that connects ships and military systems to satellites. It introduced its first maritime very small aperture terminal, or VSAT, antenna in 2003 and became the first company in Asia to locally develop an antenna for submarines in 2021. Its push into defense has brought major military contracts. KNS has secured 33.1 billion won in orders for the country’s second-generation naval satellite communications system, known as MOSCOS-II, along with about 6 billion won for ANASIS, a separate military satellite communications program. Sales have also grown, though the company has yet to turn a profit. Revenue rose to 17.8 billion won last year from 13.5 billion won a year earlier, although it posted an operating loss for a second straight year. The company expects to turn profitable as work on the naval project secured last year picks up this year. Chief Executive Jin Byung-wook said the company plans to build on its satellite antenna technology to expand into overseas defense and next-generation satellite communications markets. AJP Takeaways • KNS Inc. shares traded at 15,480 won as of 2:37 p.m. on Aug. 13, 2026, up 40.73 percent from the satellite communications equipment maker's IPO price of 11,000 won on its KOSDAQ debut. • KNS Inc. shares reached an intraday high of 24,600 won on Aug. 13, 2026, more than double the company's IPO price. • KNS Inc., founded in 2001, develops satellite communications equipment for maritime and defense applications and became the first company in Asia to locally develop an antenna for submarines in 2021. • KNS Inc. recorded 17.8 billion won in revenue in 2025, up from 13.5 billion won in 2024, but posted an operating loss for a second consecutive year. 2026-08-13 15:29:26
  • Koreas Small Business Agency and CJ CheilJedang Partner to Expand Market Access for Local SMEs
    Korea's Small Business Agency and CJ CheilJedang Partner to Expand Market Access for Local SMEs The Small and Medium Business Administration announced on August 13 that it has signed a business agreement with CJ CheilJedang at the Gangneung Science and Industry Promotion Agency in Gangwon Province.The agreement aims to support the expansion of market access and sales activation for outstanding small and medium-sized enterprises (SMEs) in the Gangwon Yeongdong region.The two organizations will collaborate in several areas, including identifying promising local companies, facilitating their entry into CJ The Market, and participating in promotional events tailored to individual businesses. They will also engage in joint marketing through live commerce and seasonal themes to boost sales of regionally specialized products, as well as analyze sales performance and connect successful companies with policy support.The Small and Medium Business Administration will recommend high-potential local SMEs from its existing support programs to CJ CheilJedang and assist in linking them to market opportunities.Earlier this month, four companies—Jeongnam Mi Group, Dongkwang Food, Sanghwa F&B, and Chamjoon Food—participated in a promotional event for Gangwon Province on CJ's online platform, CJ The Market, and signed contracts to enter the platform on the same day.Moving forward, the Small and Medium Business Administration will continue to identify and recommend outstanding SMEs, while CJ CheilJedang will support the expansion of market access for local quality products through CJ The Market.Lee Seung-yoon, head of the Fast Sourcing Purchasing Team at CJ CheilJedang, stated, "We expect that products from the Gangwon Yeongdong region will gain greater market competitiveness by leveraging CJ CheilJedang's differentiated platform capabilities. We will work to establish a sustainable ecosystem that continuously connects excellent local products with consumers."Kim Il-ho, Executive Director of Corporate Finance at the Small and Medium Business Administration, remarked, "We will support local SMEs facing challenges in securing distribution channels to enter new markets by utilizing the distribution and marketing infrastructure of large corporations. In addition to market access support, we will connect various policy tools, including policy funding, to ensure the continuous growth of participating companies."* This article has been translated by AI. 2026-08-13 15:24:00
  • Investment Committee May Be Excluded from Upcoming US-China Summit Agenda
    Investment Committee May Be Excluded from Upcoming US-China Summit Agenda Speculation has arisen that the 'US-China Investment Committee,' agreed upon during the summit in Beijing last May, may be excluded from the agenda of the upcoming summit between the two nations next month.Sean Stein, chairman of the US-China Economic Cooperation, a private organization focused on US-China relations, stated, "There is currently no evidence that the Investment Committee will be treated as a significant outcome at next month’s US-China summit," according to the South China Morning Post on August 13. He added, "Neither the US nor China has initiated the consultation process yet, and it appears both sides are unprepared for discussions with the private sector." Given the lack of progress on discussions related to the Investment Committee, it is possible that it will not be addressed at the upcoming summit.During the May summit, the leaders of the US and China announced their agreement to establish both a US-China Trade Committee and a US-China Investment Committee.While negotiations for the Trade Committee are making progress, both sides remain tight-lipped about the status of the Investment Committee. Wendy Cutler, vice president of the Asia Society Policy Institute, remarked, "It is not surprising that the Investment Committee has not gained traction since its announcement." She explained that there is a significant divergence of views within the US government and Congress regarding the benefits and risks of direct Chinese investment in the US. "President Donald Trump welcomes investments from Chinese investors, but some in his cabinet and Congress are taking a more cautious approach," she noted.In contrast, negotiations for the Trade Committee are accelerating. Both sides are rushing to finalize sensitive sectors and items that could allow for up to $30 billion in duty-free trade. The Office of the United States Trade Representative (USTR) collected public comments in June regarding 'sensitive items' that could be included in the Trade Committee.Additionally, the Chinese Embassy in the US reported last month that both governments have set a 'guiding goal' to expand agricultural trade and have 'principally' agreed to include agricultural products in a framework for mutual tariff reductions.However, Cutler pointed out that the level of diplomatic activity leading up to next month’s summit is noticeably lower than in previous summit preparations. She stated, "Bilateral contacts at all levels ahead of the September summit are much less active than during the previous administration."* This article has been translated by AI. 2026-08-13 15:24:00