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  • 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
  • President Lee Promises Enhanced Support for Veterans and Their Families
    President Lee Promises Enhanced Support for Veterans and Their Families President Lee Jae-myung stated on August 13 that "the history of independence, national defense, and democracy is not separate but a single narrative that has shaped today’s South Korea," pledging to enhance recognition and support for national merit recipients and their families. On this day, President Lee and First Lady Kim Hye-kyung hosted a luncheon at the Blue House for over 130 national merit recipients and their families. He remarked, "Special sacrifices warrant special compensation. We must remember and document these noble sacrifices and ideals to create a nation where someone will step up in times of crisis." He continued, "Today’s South Korea exists because there were those who willingly sacrificed their lives at critical junctures in modern history, allowing our citizens to dream of a future in freedom and peace. I express deep gratitude and respect for the noble sacrifices and dedication of all our citizens." President Lee emphasized that while the eras they defended and the forms of sacrifice and dedication varied, the shared intent to protect South Korea and build a better nation remained constant. He noted, "These noble sacrifices have become a strong root supporting South Korea and a great force uniting us." This event was organized by merging separate annual luncheons held around June, which is designated as National Defense and Veterans Month, and August, which marks Liberation Day. The government explained that it aims to honor the history of independence, national defense, and democratization as a unified national narrative while strengthening comprehensive recognition for national merit recipients and their families. Attendees included descendants of independence activists, veterans of the Korean War and Vietnam War, families of those who participated in the Second Yeonpyeong Sea Battle and the Yeonpyeong Island shelling, families of the fallen from the Cheonan sinking, families of deceased military personnel and firefighters, and those recognized for their contributions to the March 15 Uprising, April 19 Revolution, and May 18 Democratic Movement. The selection focused on those who had not attended a Blue House luncheon in the past five years. President Lee acknowledged the presence of descendants of independence activists who have returned to their homeland from distant lands, as well as the parents of deceased military personnel who have endured the weight of sacrifice for the nation. He stated, "Each individual who dedicated themselves to the country is a key figure in shaping today’s South Korea." He particularly highlighted the government's commitment to improving systems under the principle of "special sacrifices deserve special compensation," ensuring that recognition for sacrifices is elevated and support is strengthened. He noted that the scope and targets of compensation are being expanded, necessary medical support is being enhanced, and efforts to pass on the spirit of veterans to future generations and expand veterans diplomacy are underway. President Lee also addressed the importance of veterans beyond ideological and political divides. He asked, "Is there any division between progressives and conservatives in repaying the noble dedication of those who risked their lives for the homeland?" He promised to do everything possible to ensure that the sacrifices and dedication of national merit recipients and their families lead South Korea to greater heights on the global stage. He concluded by stating, "I will not cease efforts to ensure that the value of veterans is fully passed on to the next generation, and I will fulfill the nation’s responsibilities and obligations to protect the honor and lives of national merit recipients and their families." Before the luncheon, President Lee presented Taegeukgi badges to three representatives from the fields of independence, national defense, and democracy. The recipients included Kim Mak-sim, a descendant of an independence activist currently practicing medicine in Kazakhstan; Choi Jae-woo, the father of the late Private Choi Min-seo, who died during winter training in 2023; and Lee Myung-ja, the spouse of the late Jeong Dong-nyeon, a recognized figure from the May 18 Democratic Movement. After delivering his prepared remarks, President Lee encouraged attendees to share their thoughts freely, acknowledging that it was a meeting with the president. He directly invited participants, including former National Assembly Speaker Woo Won-sik, to voice their opinions, listening to the voices of national merit recipients and their families. Lee Jong-chan, chairman of the Korean Independence Association, expressed gratitude for the unified luncheon for families of those who contributed to independence, national defense, and democratization. Families of fallen soldiers and those recognized for their contributions to the democratic movement also conveyed their hope that the nation would not forget and remember their sacrifices. * This article has been translated by AI. 2026-08-13 15:20:10
  • Chinas Excavator Sales Rise 14% in July to 20,000 Units
    China's Excavator Sales Rise 14% in July to 20,000 Units The China Construction Machinery Industry Association reported that major domestic excavator manufacturers sold 19,521 units in July 2026, a 13.9% increase compared to the same month last year. This marks the fifth consecutive month of growth.Of the total sales, domestic sales rose by 4.1% to 7,608 units (including 41 electric units), while exports surged by 21.2% to 11,913 units (including 62 electric units).From January to July, cumulative sales reached 171,841 units, up 24.8% from the same period last year. Domestic sales increased by 18.8% to 86,633 units (including 227 electric units), and exports rose by 31.7% to 85,208 units (including 197 electric units).In July, wheel loader sales also saw a significant increase of 30.8%, totaling 11,774 units, marking 19 consecutive months of growth. Domestic sales rose by 26.8% to 5,770 units (including 3,622 electric units), while exports increased by 34.9% to 6,004 units (including 456 electric units).For the January to July period, cumulative wheel loader sales reached 93,826 units, a 27.2% increase. Domestic sales rose by 17.4% to 47,166 units (including 27,424 electric units), and exports surged by 38.9% to 46,660 units (including 2,099 electric units).In July, the average operating time for major domestic construction machinery was 73.6 hours, an 8.8% decrease from the same month last year. The average utilization rate fell by 6.3 percentage points to 49.9%.* This article has been translated by AI. 2026-08-13 15:20:00
  • South Korea to End Special Rental Program, Expand Long-Term Private Rentals
    South Korea to End Special Rental Program, Expand Long-Term Private Rentals The South Korean government will end the special rental program for cooperative landlords by the end of this year, shifting its focus to expanding long-term private rentals operated by real estate investment trusts (REITs) and corporations for over 20 years. This marks a significant shift in rental policy from supporting individual landlords to promoting large-scale, long-term supply by professional operators.On August 13, the government announced a plan to expedite housing supply, which includes expanding public-supported private rental models that operate for more than 20 years. This initiative aims to encourage the supply of private rental housing by providing financial support to rental operators and broadening the exceptions to mortgage regulations.Kim Yoon-deok, Minister of Land, Infrastructure and Transport, stated, “We will introduce a public-supported private rental model that operates for over 20 years and launch tailored long-term mortgage products to promote the supply of long-term private rental housing.”Financial Services Commission Chairman Lee Ok-won added, “We will enhance financial support needed at various stages of supply, including relocation loans, operating funds for rental businesses, and financing for non-apartment operators.”The Ministry of Economy and Finance announced on August 3 that the special rental program for cooperative landlords will end on December 31. This program allowed landlords who raised rents by no more than 5% compared to the previous contract to be exempt from certain tax requirements when selling the property after maintaining the lease for a specified period.The government determined that, with the implementation of the rent cap limiting rent increases to 5% upon contract renewal, the need for additional tax exemptions had diminished. The decision also reflects concerns that excessive benefits were being granted to single-home landlords who do not reside in their properties.In lieu of tax benefits for individual landlords, the government plans to increase the supply of privately operated rental housing that is stable and long-term. This includes expanding financial support for rental operators and broadening the exceptions for mortgage regulations.The government will also diversify the supply methods for public rental housing. It plans to introduce a universal public rental housing model with relaxed income and asset criteria, as well as a universal lease rental system aimed at young people.Approximately 15% of public housing units will be offered through a shared-equity model, allowing buyers to pay for their homes over an extended period, and a profit-sharing model that divides the profits from property sales between the public and private sectors. This initiative aims to broaden housing options for young people and newlyweds based on their financial circumstances.If these policies are successfully implemented, they are expected to reduce the risk of rental properties being sold or security deposits being returned due to the financial situations of individual landlords. However, concerns remain that transitioning the rental market from individual landlords to professional operators may take considerable time, and delays in expanding long-term private rentals after the end of the cooperative landlord program could weaken incentives to control rent increases during the transition period.* This article has been translated by AI. 2026-08-13 15:20:00
  • Export-Import Bank Makes First Venture Investment in Defense and Supply Chain
    Export-Import Bank Makes First Venture Investment in Defense and Supply Chain The Export-Import Bank of Korea is making its first direct investment in a venture capital fund since its establishment. The bank will invest 20 billion won in a fund supporting venture companies in the defense and supply chain sectors, along with a separate investment in a medical artificial intelligence (AI) company.On August 13, the Export-Import Bank announced that it will select a management company for the 'LP Growth Fund' aimed at supporting venture companies in the defense and supply chain sectors, in collaboration with the Supply Chain Stabilization Fund.Both the Export-Import Bank and the Supply Chain Stabilization Fund will each contribute 20 billion won, with a total target fund size of 112.5 billion won. The fund will operate as a blind fund, meaning it will not pre-select investment targets but will seek out opportunities after the fund is established.The fund plans to invest in companies involved in finished defense products, parts, and materials, as well as advanced technology firms in the defense sector, including those working with drones, robots, and AI, along with companies related to key supply chain items.The Export-Import Bank will collaborate with BNK Financial Group, which has strengths in regional investments, and the Korea Venture Investment Corp., which has experience in managing venture funds. Earlier, the bank signed a memorandum of understanding with the Ministry of SMEs and Startups, Busan Bank, and Kyongnam Bank in April to support small and medium-sized enterprises and promote regional investments.The investment project will be announced on the Export-Import Bank's website on August 14, and the final selection of the management company will occur after approval from the Minister of Economy and Finance in the second half of this year.Additionally, the Export-Import Bank has decided to invest in the medical AI venture company Airs Medical. The bank will invest 7.5 billion won in a 30 billion won project fund being established by Samho Green Investment.Airs Medical develops software that uses AI technology to reduce MRI scan times by up to 50%. In just eight years since its founding, the company generates over 90% of its total revenue from overseas.Through this investment, the Export-Import Bank plans to support Airs Medical in expanding its overseas sales network and securing local regulatory approvals.This investment became possible following amendments to the Export-Import Bank Act and the Supply Chain Stabilization Act earlier this year, which expanded the investment targets for the Export-Import Bank and the Supply Chain Stabilization Fund to include venture capital funds.* This article has been translated by AI. 2026-08-13 15:20:00
  • AI Chat Logs Expose Personal Data, Prompting Concerns for Call Centers and Chatbots
    AI Chat Logs Expose Personal Data, Prompting Concerns for Call Centers and Chatbots Research has revealed that personal data could be exposed through inference logs from companies that have built AI services for call centers and internal automation using APIs from Anthropic, OpenAI, and Google.A paper titled "Stealing Inference Traces from Proprietary LLM APIs," published on Hugging Face on August 12, identified structural flaws in the 'encrypted inference' blocks returned to clients by the frontier models of the three companies.Encrypted inference is a method where the AI model transmits its internal thought process in an encrypted form to the client, preventing competitors from observing this process to train their own models and ensuring that the reasoning process is not exposed to users. All three companies adopted this approach for security reasons.The issue arises from the fact that these encrypted blocks are interoperable across the same AI models. When a higher model requests to decrypt an encrypted block from a lower model, it is returned in plaintext. The paper demonstrated this flaw through an experiment where an encrypted block generated by Anthropic's Claude Opus 4.8 was decrypted by the relatively weaker Claude Haiku 4.5. Similar structural flaws were confirmed in OpenAI's GPT series and Google's Gemini series.The research team decrypted 315,320 inference block encryptions from 6,708 actual agent operation records available in public repositories. Among these, they identified 367 instances of personal identifiable information (PII) and 182 instances of authentication information, such as API keys and passwords. Given that this data was extracted from publicly available logs, the implications are significant.Domestic companies utilizing the APIs from the three firms are also at risk of personal data exposure. Many South Korean AI service companies are integrating the APIs from Anthropic, OpenAI, and Google for call center consultations and internal automation.Samsung Electronics has implemented ChatGPT-based APIs across software development, product development, and marketing. Other companies, including LG Electronics, LG CNS, Samsung SDS, Krafton, and Toss, are also using ChatGPT-based APIs for internal automation. The financial sector, including Shinhan Bank, is increasingly automating call center consultations through AI contact centers (AICC).Particularly vulnerable are multi-turn chatbots and agent-type services that require maintaining conversational context, as they inherently exchange encrypted inference blocks in each session. This vulnerability necessitates a review of session log storage and sharing practices, along with the development of response measures by relevant authorities.* This article has been translated by AI. 2026-08-13 15:16:00