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KyoWon Life Expands Life Care Services to Address Inheritance and Gift Tax Issues KyoWon Life is expanding its life care services to assist customers with tax issues related to inheritance and gifts following funerals.On August 13, KyoWon Life announced it has signed a memorandum of understanding (MOU) with Centric Tax Corporation to collaborate on tax consultation services after funerals.The agreement aims to provide professional consultation services for complex tax procedures related to inheritance and gifts, establishing a one-stop support system for customers.The two companies will jointly develop a customized tax consultation program and membership benefits linked to KyoWon Life's deferred payment funeral products. The tax consultation program will be one of the additional services offered to customers who subscribe to the funeral products. Customers who choose the tax consultation service after completing a funeral will be connected with tax professionals from Centric Tax Corporation for tailored advice on inheritance and gift tax matters. KyoWon Life will cover the initial consultation costs entirely and will also offer discounts for additional tax services.KyoWon Life plans to pilot the program initially for employees of the KyoWon Group, and after comprehensively verifying service stability and customer satisfaction, it will expand the service to business-to-business (B2B) partnerships for deferred payment products.Meanwhile, KyoWon Life reported a 137% increase in the usage of its conversion services in the first half of this year (January to June) compared to the same period last year. Among these, the travel conversion service saw a 169% increase during the same timeframe.A KyoWon Life representative stated, "After a funeral, many people face unexpected tax procedures related to inheritance and gifts. We will continue to expand differentiated services that encompass both pre- and post-funeral needs, acting as a timely life care partner for our customers."* This article has been translated by AI. 2026-08-13 14:48:00
Kim Gun Proposes Safety Standards for Public Bicycles Kim Gun, a lawmaker from the People Power Party, announced that he has proposed amendments to legislation aimed at enhancing the safety of public bicycles.According to his office on the 13th, Kim introduced a bill titled 'Partial Amendment to the Act on Promotion of Bicycle Use.'Known as the 'Ddarungi Safe Use Act,' the bill's key provisions allow the government to establish standards for necessary safety equipment, regular and ad-hoc safety inspections, retrieval and repair of malfunctioning bicycles, and safety management criteria that operators must follow.Kim stated, "Public bicycles, including Ddarungi, have long been a popular mode of transportation for citizens. Instead of leaving inspections to varying local practices, the government should set basic safety management standards."Currently, there are no unified standards for when and how public bicycles should be inspected. According to Kim's office, the Ministry of the Interior and Safety has not provided standard guidelines for public bicycle safety inspections. Local governments are using different criteria and methods for inspections.Due to the lack of standards, there are discrepancies in inspection frequencies even within the same metropolitan area. For instance, Yeonje District in Busan conducts inspections daily, while Gijang County in Busan inspects twice a month. Some local governments have not specified inspection frequencies, only stating 'ad-hoc' or 'ongoing,' according to Kim's office.This regulatory gap has led to accidents involving public bicycles across the country. Data submitted by the Ministry of the Interior and Safety to Kim's office revealed that from January to June 2024, there were 237 accidents nationwide attributed to bicycle malfunctions or defects.In Sejong City, incidents occurred where a bicycle seat suddenly dropped and where a brake cable snapped, rendering the bicycle unable to stop. Similar cases of simultaneous brake failures and chain detachments during operation were reported in Suncheon City, Jeonnam.Kim emphasized, "A small defect can lead to significant accidents for users," and pledged to work diligently on legislation and policies to reduce risks in citizens' daily lives and create a safer environment for bicycle use. 2026-08-13 14:44:20
Han Byeong-do Warns of Expulsion Resolution if Lee Jin-sook Proceeds with 5.18 Forum Han Byeong-do, the acting leader of the Democratic Party of Korea, warned on August 13 that he would submit a resolution calling for the expulsion of Lee Jin-sook, a candidate from the People Power Party, if she proceeds with her forum titled 'Revisiting the 5.18 Democracy Movement.'Han made the remarks during a rally condemning the People Power Party for distorting the history of the 5.18 movement, held in the National Assembly's rotunda. He urged, "Lee should stop the event immediately."He added, "We will not tolerate any attempts to turn the National Assembly into a venue for denigrating 5.18. Regardless of political affiliation, if there is any sense of humanity left, this should not be treated lightly." He emphasized that if the event goes ahead, Lee would not be qualified to serve as a member of the National Assembly, stating, "We cannot compromise with any forces that belittle the spirit of 5.18."Additionally, Han criticized the People Power Party for obstructing legislation that affects people's livelihoods, noting, "They are refusing to respond to the request for an extraordinary session of the National Assembly in August."He also pointed out that the leadership of the People Power Party is paralyzing the functions of the National Assembly by deciding whether to bring bills that have passed committee and the judiciary committee to the floor. "The Democratic Party will mobilize all means starting next week," he warned.* This article has been translated by AI. 2026-08-13 14:44:10
New Book Offers Nutritional Guidance for All Ages A new health guide titled One Serving a Day: A Meal Method to Ignite Youth was published on August 13, 2026, offering dietary and health management advice for all life stages, from children to seniors.Published by Book Lab, the book emphasizes prevention over treatment and nutrition over calories, examining modern eating habits and compiling practical meal methods for different generations.The book begins with the question, 'Why does my body keep hurting even when my stomach is full?' The authors explore obesity, chronic diseases, and aging from the perspectives of excessive calorie intake and micronutrient deficiencies. They address the concept of 'hidden hunger,' which refers to a state where individuals consume enough food but lack essential vitamins and minerals, highlighting the nutritional imbalance faced by many today.It further explains the nutritional significance of raw foods, antioxidant nutrition, gut health, immunity, and aging management, based on research findings and clinical experiences. The focus is on making complex health information accessible to the general reader.Particularly, the book details the necessity of tailored health management across different life stages. It covers the nutritional needs of growing children and adolescents, meal methods for young adults and professionals concerned about fatigue and weight management, dietary considerations for middle-aged individuals focusing on vascular health, and the dietary needs of seniors who must be mindful of sarcopenia and micronutrient deficiencies.Each age group is provided with practical meal methods, recipes, and health management habits. The book is structured to emphasize increasing 'healthspan,' the period of life spent in good health, rather than merely extending lifespan.The authors include Professor Park Sang-cheol, an emeritus professor at Seoul National University and a researcher in aging science; Lim Kyu-sung, a specialist with 30 years of clinical experience in gastroenterology at Cha Hospital; Kwon Soon-yong, a director researching musculoskeletal anti-aging and regenerative medicine; Kim Jeong-yong, an oncologist; Dr. Kang Si-cheol, a healthcare education expert; and Lee Hee-won, chairman of the AI healthcare company Genosis, along with the Genosis Anti-Aging Center.The authors emphasize the importance of prevention and health management through everyday lifestyle choices, rather than focusing solely on treatment after disease onset.Professor Park stated, 'We live in an era where we dream of living to 200 years, but simply living longer cannot be the goal. True longevity means living vibrantly and authentically without disease.' He added, 'In studying centenarians across the country for decades, we found a commonality: they consumed simple yet wise meals provided by nature. I hope this book serves as a guide to practicing that ancient wisdom at the daily table.'One Serving a Day: A Meal Method to Ignite Youth is an informative book that explains the importance of healthy eating habits and nutritional management without presenting specific treatments for diseases or the efficacy of individual products. Clinical observation data and research findings included in the book are accompanied by relevant references and sources.The book is available at bookstores nationwide, both online and offline.* This article has been translated by AI. 2026-08-13 14:44:00
Hite Jinro Reports 0.7% Increase in Q2 Operating Profit Amid Liquor Market Slowdown Hite Jinro has reported a slight increase in operating profit for the second quarter, driven by improved profitability in its soju segment despite a general decline in liquor consumption. The company announced on August 13 that its consolidated operating profit for the second quarter reached 64.9 billion won, a 0.7% increase compared to the same period last year. However, sales fell to 618.6 billion won, down 4.3% year-on-year. Hite Jinro attributed the resilience in operating profit to enhanced cost efficiency and a focus on profitability amid a challenging liquor market. Performance varied across its business segments. The soju division saw sales rise to 382.7 billion won, a 0.1% increase from the previous year, while operating profit surged 18.4% from 49.1 billion won to 58.2 billion won. In contrast, the beer segment was unable to escape the impacts of reduced consumer spending and declining sales. Second-quarter sales dropped 15.3% to 176.3 billion won, and operating profit fell 29.2% from 11.7 billion won to 8.3 billion won. A Hite Jinro representative stated, "Despite the sluggish market, soju maintained a strong market lead, resulting in increased sales and operating profit. The beer segment faced simultaneous challenges from reduced consumption and sales, but we expect to improve third-quarter results through product diversification, including offerings like Terra Zero."* This article has been translated by AI. 2026-08-13 14:44:00
GC Green Cross Accelerates Development of Domestic mRNA Vaccine, Aiming for Approval by 2028 GC Green Cross participated in an event organized by the Korea Disease Control and Prevention Agency (KDCA) to present the current status and future plans for its COVID-19 messenger ribonucleic acid (mRNA) vaccine development.On August 12, GC Green Cross shared updates on its COVID-19 mRNA vaccine during a press academy event titled 'Current Status and Plans for Domestic mRNA Vaccine Technology Development' held at Korea University Guro Hospital.This event, hosted by the KDCA, aimed to highlight the necessity of developing mRNA vaccines as a key technology for rapid response to future pandemics and to showcase domestic research achievements in mRNA vaccine development. The mRNA vaccine platform is recognized as a versatile technology capable of responding swiftly to new pathogens and variants.GC Green Cross is the only domestic company undertaking a government-led project aimed at securing a domestic COVID-19 mRNA vaccine by 2028. The company confirmed safety, tolerability, and immunogenicity in the interim results of its Phase 1 clinical trial and submitted an Investigational New Drug (IND) application for Phase 2 clinical trials last month.To support the development of its COVID-19 mRNA vaccine, GC Green Cross has dedicated over 100 personnel to research and development (R&D), production, and quality management (QM). The company has established a Good Manufacturing Practice (GMP) facility for mRNA production at its facility in Hwaseong, enabling it to conduct the entire process from research and development to production in-house.GC Green Cross plans to obtain IND approval for Phase 2 clinical trials within this year, submit an IND for Phase 3 trials next year, and aims to apply for product approval in 2028.Jung Jae-wook, head of R&D at GC Green Cross, stated, "The achievements so far are the result of the synergy between the government's rapid support system and GC Green Cross's development capabilities. We will continue to work closely with health authorities, including the KDCA, to secure global-level mRNA vaccine sovereignty."* This article has been translated by AI. 2026-08-13 14:40:10
Gachon University Expands AI Training to Administrative Staff Gachon University is enhancing the AI capabilities of its administrative staff, expanding the use of artificial intelligence beyond students and faculty to encompass the entire university's administrative functions. According to Gachon University, from August 10 to 12, it conducted the '2026 Summer AI Administrative Capability Enhancement Training' for 48 staff members below the 7th grade level in the GAIA lecture hall of the AI library. The training was designed to enable practical application of generative AI in administrative tasks, focusing on document writing, data analysis, information management, and task automation. Professor Choi Jae-yong from the Department of Artificial Intelligence led the training, gradually introducing key features and applications of generative AI, including ChatGPT. On the first day, participants learned the basic principles of generative AI, multimodal AI, and prompt writing, followed by hands-on practice applying AI to real administrative tasks such as writing official documents, emails, and reports. The second day covered data analysis and organization using Excel, as well as analyzing meeting, survey, and work materials. Participants also practiced using NotebookLM to extract and organize necessary information from various sources. On the final day, they learned about managing work materials using the ChatGPT project, performing computer and file-based tasks, scheduling, and utilizing automation features like GPTs. Participants experienced how to incorporate generative AI throughout their work processes, from information gathering to website creation. Gachon University has broadened the scope of AI utilization from the classroom to administrative settings through this training. Earlier in February, the university conducted AI training for faculty, enhancing their capabilities in course design and evaluation using AI. The university is also promoting educational innovation to help students use AI not just as a simple tool, but as a means for creative problem-solving and learning. Students expressed optimism, stating that AI could transform not only classes but also their overall university experience. They believe that the integration of AI into administrative tasks will streamline processes such as information retrieval and academic inquiries, ultimately improving efficiency for all university members. Students particularly anticipate that effective AI use by administrative staff will reduce time spent on repetitive tasks, allowing for more direct support in areas like student counseling and academic guidance. One student remarked, 'If AI is utilized in both classes and university administration, the services students experience will become faster and more convenient. I believe it is important for all university members to develop the skills to use AI effectively.' Looking ahead, Gachon University plans to expand AI training and related environments for all university members, including students, faculty, and staff, to continue fostering educational innovation and establishing an operational framework suited for the AI era.* This article has been translated by AI. 2026-08-13 14:40:00
Samsung Maintains Top Position in NAND Market, YMTC Rises to Third Amid AI Demand Samsung Electronics retained its position as the leading global NAND flash supplier by shipment volume in the second quarter of this year. SK Hynix closely followed, while China's Yangtze Memory Technologies Co. (YMTC) climbed to third place for the first time. The demand for artificial intelligence (AI) is rapidly shifting towards enterprise SSDs (eSSD), altering the competitive landscape of the NAND market from mere shipment volume to high-value products.According to market research firm Counterpoint Research, Samsung's market share in global NAND bit shipments was 25% in the second quarter, the highest among competitors. SK Hynix, including its subsidiary Solidigm, held 22%, benefiting from a 40% increase in Solidigm's bit shipments compared to the previous quarter.Samsung's NAND market share decreased from 32% in the second quarter of 2024 to 25% this year, a drop of 7 percentage points. Counterpoint attributed this decline to Samsung prioritizing the production of relatively more profitable DRAM.YMTC's rise was notable, achieving a 14% market share, slightly surpassing Japan's Kioxia to enter the global top three for the first time. Its shipments increased by 22% year-on-year and 5% from the previous quarter, attributed to an expanded supply to domestic customers amid a supply shortage.However, the ranking by shipment volume did not directly translate to revenue competitiveness. While YMTC ranked third in bit shipments, it was fifth in revenue. The lower proportion of high-priced eSSDs for data centers affected its product mix compared to leading companies like Samsung and SK Hynix.AI is reshaping the NAND market. As AI workloads expand from training to inference, the demand for eSSDs capable of storing and quickly accessing large volumes of data has surged. In the second quarter, eSSDs accounted for 48% of total NAND bit shipments, nearly doubling from 26% in the same period last year.Counterpoint predicts that by the end of this year, server eSSDs will surpass half of total NAND bit shipments. Consequently, competition among NAND manufacturers is expected to shift from merely supplying volume to increasing the share of ultra-high-capacity and high-performance products for AI data centers, which will determine profitability.* This article has been translated by AI. 2026-08-13 14:40:00
South Korean Government Unveils New Housing Supply Measures The South Korean government announced a new housing supply plan on August 13, aimed at expediting public land development and easing regulations on redevelopment and reconstruction projects. The plan introduces various new housing models, including equity accumulation public sales, universal public rentals, long-term private rentals for 20 years, and youth universal lease rentals. Additionally, it seeks to alleviate the so-called 'marriage penalty' that restricts policy loans after marriage.According to the Ministry of Land, Infrastructure and Transport, the new measures will reduce the average time from the announcement of public land candidates to construction from 68 months to 37 months. The designation of districts will be shortened from 12 months to 4 months, while district planning will be cut from 24 months to 13 months. The site acquisition phase, including compensation and relocation, will be reduced from 44 months to 24 months. Specialized models will allow construction to begin within 21 to 34 months after announcement, depending on project conditions.Regulations on redevelopment and reconstruction will also be relaxed. The approval rate for establishing redevelopment associations will decrease from 75% to 70% among landowners, while the consent rate for designating public redevelopment and reconstruction project implementers will drop from 67% to 60%. If only one company participates in the general competitive bidding for construction, the re-bidding process and submission period will be shortened.◆ New Universal Public Rental Housing for Low-Income and General PublicThe rental housing system will undergo significant changes. The government will establish a new 'universal public rental housing' category, separate from existing public rentals.While current public rentals are limited to those earning 150% or less of the median income and focus on low-income households, the universal model will broaden eligibility. More than 50% of the total units will be allocated to young people without homes, with the remainder going to the general public without housing.Locations will be centered around preferred areas, such as transit-oriented developments in the third new towns and downtown Seoul. The design will shift from two-bay to three-bay layouts, and the quality of finishing materials will be elevated to match private housing standards. The basic residency period will be six years, extendable with each childbirth, allowing families with three or more minor children to stay for up to 20 years. In areas subject to private sale regulations, the Korea Land and Housing Corporation (LH) will prioritize purchasing units for universal public rental housing.A new long-term rental model will also be introduced for the private sector, addressing the lack of financial support for long-term operators. The government will implement a 'long-term mortgage for rental housing' backed by the Housing and Urban Guarantee Corporation (HUG), allowing for up to 34 years of financial support, including construction and rental operation periods.For 20-year rentals, the fund's investment limit will increase from 11% to 14% of total project costs, and the maximum loan limit will rise from 120 million won to 200 million won. The interest rate will be lower than the current 2.6% to 3.4% for 10-year rentals, set at 2.0% to 2.8%. The initial rent will be set at 95% of the market rate.A new 'universal lease rental' program for youth will also be introduced. The existing youth lease rental program, which supports a maximum of 120 million won for individuals in the metropolitan area, will double the limit to 240 million won and use a lottery system for allocation. The current youth lease rental program will remain in place alongside this new type.◆ Public Sales with 25% Initial Payment and Equity SharingThe public sales method will also change. The government plans to offer about 15% of public sale units as equity accumulation or profit-sharing types.The equity accumulation model allows buyers to pay only 25% of the initial sale price, with the option to acquire an additional 20% every five years, ultimately securing ownership over 20 to 30 years. The profit-sharing model will provide low-interest loans from the housing fund for homebuyers, with profits generated from the housing shared between the fund and the buyers. This model will support low-interest loans with a maximum loan-to-value ratio of 70%.The government will also address the issue of policy loans being unavailable after marriage. Currently, loans such as the Didirim, Buteumok, and Bogumjari loans assess eligibility based on combined income after marriage. The new policy will allow loans if either spouse meets the general income criteria. For example, a couple with incomes of 50 million won and 70 million won would currently be disqualified for a Didirim loan due to their combined income exceeding the limit, but under the new rules, the assessment will be based on the 50 million won income.Additionally, protections for lease deposits will be enhanced. The support eligibility for youth lease deposit return guarantees will expand from an annual income of 50 million won and a deposit of 300 million won to approximately 65 million won in income and deposits of 700 million won in the metropolitan area and 500 million won in non-metropolitan areas. The support amount will also increase from a maximum of 400,000 won to 500,000 won.A new 'lease trust' system will be introduced, allowing tenants to deposit their lease funds with a public stabilization organization instead of directly paying landlords. This organization will manage the funds and provide landlords with monthly rental income derived from the investment. Tenants will benefit from deposit protection, while landlords will receive stable income without the risk of late payments. The government plans to start recruiting landlords in September and aims to begin tenant placements by the end of the year, with a pilot supply of 500 units through LH's rental program.Building regulations for non-apartment structures will also be relaxed. The construction area limit for multi-family and multi-household buildings will increase from 660 square meters to less than 1,000 square meters, and the number of floors for multi-household housing will rise from three to four. Sunlight regulations will be eased, allowing for vertical construction instead of sloped designs for typical four to five-story buildings. The government estimates that relaxing floor regulations alone could increase the number of units by about 33% within the same area.* This article has been translated by AI. 2026-08-13 14:40:00
Yen Hits 160 Mark Again, Raising Concerns Over Currency Intervention The exchange rate serves as a thermometer for a country's economy. When the economy is healthy, the temperature stabilizes naturally; however, if there are fundamental issues, no amount of fever-reducing medication will keep the temperature down. This is evident in the recent fluctuations of the yen. Despite the unprecedented joint intervention by the Japanese and U.S. governments to buy yen, its value is once again approaching 160 yen per dollar. Before the joint intervention at the end of last month, the yen was nearing 164 yen per dollar. Following the intervention, it dropped sharply to around 155 yen. However, this effect was short-lived. As of August 13, the yen has risen back to the 159 yen range, once again nearing the psychological resistance level of 160 yen. Market analysts believe that if the yen surpasses 160 yen per dollar, the Japanese authorities are likely to intervene in the market again. There is a perception that Japan has significant intervention capacity, backed by its dollar reserves of nearly $1 trillion. The problem lies in the diminishing effectiveness of such interventions. Foreign exchange market interventions involve selling foreign currency and buying domestic currency, sending a strong signal to the market and forcing speculative positions to close. The recent U.S.-Japan joint intervention significantly unsettled investors who had bet on a weaker yen. However, once the intervention ended, market participants resumed selling yen, reversing much of the gains. The reason is straightforward. The direction of the exchange rate is determined not by a government’s one-day transactions but by the underlying economic fundamentals. The interest rate differential between Japan and the U.S. remains substantial, and concerns about Japan's fiscal situation and its dependence on energy imports weigh heavily on the yen. If the Bank of Japan (BOJ) does not raise interest rates sufficiently, the so-called yen carry trade—borrowing yen to invest in relatively higher-yielding dollar assets—could resurface. Thus, focusing solely on how much ammunition Japan has left for foreign exchange market interventions misses the essence of the issue. Japan still possesses considerable foreign exchange reserves, indicating sufficient capacity for further interventions. In fact, Japan is estimated to have already spent over $100 billion on two foreign exchange market interventions this year. However, the ability to spend money to defend the currency's value is entirely different from the ability to change the long-term trend of that value. Moreover, this time, the U.S. also participated in the intervention. The joint signal from the U.S. and Japan to curb yen depreciation sent a significant shock to the market. Nevertheless, the yen's return to weakness suggests that the market prioritizes economic fundamentals over mere policy signals. Ultimately, for sustained yen strength, analysts argue that a fundamental policy shift, such as additional interest rate hikes by the BOJ or a more prolonged tightening stance, is necessary. This situation is not just a concern for Japan. The South Korean won is also influenced by the global strength of the dollar, the interest rate differential between South Korea and the U.S., and various factors affecting domestic economic growth. While it is essential for the government to stabilize the market during periods of volatility, it should not aim to maintain a specific exchange rate level against market forces for an extended period. The lesson from the yen's situation is clear. Foreign exchange market interventions can buy time, but they cannot change the economic direction. The fact that the government has the power to influence exchange rates is not the same as being able to keep them at a desired level indefinitely. To persuade the market, the priority must be to create economic fundamentals that the market can accept rather than opposing market forces. 2026-08-13 14:36:10