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South Korean Prime Minister Promises Support to Families of Muan Airport Crash Victims South Korean Prime Minister Han Seung-soo visited the site of the December 29 Muan Airport plane crash on August 13, where he expressed condolences on behalf of the government and pledged to determine the exact cause of the accident. Families of the victims, 1 year and 8 months after the incident, urged Han to take on a government-wide leadership role in the investigation and accountability process.During his visit to Muan International Airport in Jeollanam-do, Han met with over 50 family members of the victims, stating, "I am deeply sorry to meet you in such circumstances, and I feel a heavy heart. As a representative of the government, I once again express my sense of responsibility and offer my apologies."Han visited a memorial site at the airport to pay his respects and then inspected the ongoing recovery efforts for remains and personal belongings. He later engaged in discussions with the families regarding the investigation, recovery of remains, support for victims, and memorial plans."What the families desire most is to uncover the exact cause of the accident," Han said, explaining that the transfer of the investigation to the Aviation and Railway Accident Investigation Committee under the Prime Minister's Office aims to ensure an independent and fair investigation process. He added, "I will ensure that both the truth is revealed and that we support and memorialize the families' pain, and I will carefully oversee the remaining processes to ensure that the families' urgent concerns and efforts are not in vain."Han acknowledged criticisms regarding the inadequacy of the recovery process, stating, "I felt truly sorry and pained to hear that the families had to participate in the recovery and even create manuals themselves. It is preferable to determine the completion timeline in consultation with the families, as we have done so far."In response to demands for transparency regarding accountability for those responsible, he said, "We are currently gathering and organizing relevant information, and I will be able to provide an update once that is complete."According to the investigation committee, the recovery of remains began on April 13. A joint government command center, involving police, fire services, military, the Ministry of Land, Infrastructure and Transport, Korea Airports Corporation, and Jeju Air, has deployed an average of 200 to 300 personnel daily to search six designated areas inside and outside the airport.As of August 12, searches have been completed in 724 of the 828 designated areas, achieving a progress rate of 87.4%. A total of 1,620 items believed to be remains and 851 personal belongings have been discovered. The suspected remains have been sent to the National Forensic Service for DNA analysis.However, the recovery efforts were temporarily halted due to the removal of soil contaminated with aviation fuel and extreme heat, and the investigation committee noted that the search speed may slow down due to the large amount of soil that needs to be processed around the area where the aircraft crashed. Currently, searches are conducted from 7 a.m. to noon to ensure the safety of personnel on site.Han also met with police, fire, and military personnel wearing protective gear who were sifting through soil, expressing gratitude for their hard work in the heat and emphasizing the importance of their health and safety. He expressed sorrow over the recovery of remains being conducted on a "point" basis, stating, "It is heartbreaking and regrettable that each individual is being represented in such a manner."At the personal belongings storage site, families raised concerns about issues during the initial recovery process. Some family members reported that items, such as luggage and clothing of victims that were previously said to be lost, were discovered later, demanding an investigation into the recovery and storage processes and accountability for those involved.One family member, who lost his wife and two sons, showed Han a portion of his family's identification card that was found later, stating, "I found nothing." Han took the family member's hand and said, "I am very sorry."Kim Yoo-jin, representative of the 12·29 Muan Airport Jeju Air crash victims' families, stated, "The truth about why 179 people could not return has not been revealed, and no one has been held accountable or punished. The pain of losing loved ones has been compounded by the government's inadequate response."The victims' families' association has requested that Prime Minister Han formalize a control tower role overseeing the recovery and investigation, expand the personnel and budget of the investigation committee, disclose investigation processes and original materials, issue a national apology for the inadequate response, hold those responsible accountable, and ensure the effective operation of support and memorial committees.* This article has been translated by AI. 2026-08-13 14:32:00
Hantap Shares Surge for Three Consecutive Days Following Major Shareholder Buyback Announcement Hantap's shares have surged for three consecutive trading days, driven by the announcement of a significant buyback plan by its largest shareholder.According to the Korea Exchange, as of 2:19 PM on August 13, Hantap's stock was trading at 3,280 won, up 485 won (17.35%) from the previous trading day. The stock had previously hit its upper limit for two consecutive days on August 11 and 12.On August 11, Hantap disclosed that its largest shareholder plans to buy back 2 million common shares to enhance shareholder and corporate value. The buyback period is set from September 11 to October 10, lasting 30 days, with an estimated purchase amount of about 3.3 billion won.The planned buyback represents approximately 9% of Hantap's total issued shares. The actual number of shares purchased and the transaction price may vary depending on future stock price fluctuations.The announcement of the share buyback has heightened expectations for improved shareholder value and responsible management. Hantap's stock price nearly doubled from 1,654 won on August 10, the day before the announcement, to 3,280 won.Hantap has recorded operating profit for four consecutive years from 2022 to 2025 through business structure improvements and cost reductions. Last year, the company also turned its net profit into the black.The company is exploring ways to utilize its assets, including cash reserves, investment properties, and its headquarters site.A Hantap representative stated, "We believe the recent stock price has fallen excessively compared to the company's intrinsic value, prompting the largest shareholder to submit a buyback plan to enhance shareholder and corporate value. We are also considering additional measures to increase shareholder and corporate value, which will be disclosed once finalized."* This article has been translated by AI. 2026-08-13 14:32:00
Samsung Heavy Industries Partners with KAIST to Enhance Maritime Technology Competitiveness Samsung Heavy Industries is establishing a joint research center with KAIST (Korea Advanced Institute of Science and Technology) to enhance its competitiveness in future maritime technologies, including AI, energy, and digital transformation.On August 13, Samsung Heavy Industries announced the opening of the 'SHI-KAIST Next-Generation Ship Research Center (AMRC)' at KAIST's main campus in Daejeon.Attendees at the opening ceremony included Choi Sung-an, CEO of Samsung Heavy Industries, and Bae Chung-sik, President of KAIST, along with representatives from Samsung Heavy Industries' maritime research institute and KAIST's Department of Mechanical Engineering.The new research center will focus on four key areas of joint research with KAIST, integrating traditional shipbuilding technologies with advancements in AI, robotics, and eco-friendly solutions.The main research areas include: autonomous navigation and intelligent sailing AI technologies; zero-carbon and low-carbon fuel propulsion systems; smart shipyard digital twin manufacturing innovations; and robotics specialized for maritime applications, which are recognized as four major megatrends in future technology.Unlike previous collaborations that focused on individual research projects, the Next-Generation Ship Research Center will continuously identify and pursue joint research initiatives. It will also promote student research support and scholarship programs through industry-academia cooperation funds.Bae Chung-sik, President of KAIST, stated, "In the future, physical AI that innovates actual industrial sites will determine manufacturing competitiveness. The maritime industry, as a representative field where mechanical engineering and AI, along with robotics, can create new value, is expected to solve challenges in the industry and set new standards for future technologies through this research center."Choi Sung-an, CEO of Samsung Heavy Industries, expressed, "I am pleased that our 32-year collaboration with KAIST has culminated in the establishment of the Next-Generation Ship Research Center. We will intensify our efforts to secure technological competitiveness in the future maritime industry, focusing on autonomous navigation, eco-friendly ships, and smart manufacturing, while also nurturing talent."Meanwhile, Samsung Heavy Industries has been working to establish various research hubs, including the opening of the 'SSAM Center' in collaboration with San Diego State University in March.* This article has been translated by AI. 2026-08-13 14:24:20
Coupang Provides Scholarships to Descendants of Independence Activists Coupang is stepping up to support the education of descendants of independence activists in honor of the 81st anniversary of Korea's liberation. The company has pledged 100 million won to provide scholarships for 60 descendants, including college and high school students.On August 12, Coupang announced that it signed a memorandum of understanding with the Korean Liberation Association at the association's headquarters in Yeongdeungpo, Seoul. The signing ceremony was attended by Jang Young-cheol, Coupang's Executive Director of Social Contribution, Kim Jin, Vice Chairman of the Korean Liberation Association, and Jeon Byeong-in, Secretary General.Under the agreement, Coupang will donate 100 million won to the Korean Liberation Association, which will select 60 scholarship recipients—20 college students and 40 high school students—through recommendations from local branches and a selection committee.Each college student will receive 3 million won, while high school students will receive 1 million won. The selection process for scholarship recipients will take place from September to November, with a ceremony to award the scholarships scheduled for December.Coupang plans to expand its support for national and independence activists through this scholarship initiative. The company aims to provide practical assistance to ensure that the descendants can pursue their education with confidence, honoring the sacrifices of independence activists.Earlier in June, in recognition of Memorial Month for the Fallen, Coupang conducted a health screening program called 'Coupang On-Dongne Care' in Yeongdeok, Gyeongsangbuk-do.On June 24, at the Yeongdeok National Sports Center, Coupang, in collaboration with the Korean Medical Association, Gyeongsangbuk-do, Yeongdeok County, and the Veterans Association, provided health screening services to over 500 participants, including veterans and local residents.A Coupang representative stated, “We will continue to provide practical support so that the descendants of independence activists can take pride in their studies and prepare for their future.”* This article has been translated by AI. 2026-08-13 14:24:10
Jung Ki-sun Emphasizes Long-Term Growth at HD Hyundai Leadership Meeting Jung Ki-sun, chairman of HD Hyundai, urged the group’s leadership to focus on long-term growth rather than short-term results. Amid increasing domestic and international uncertainties, he emphasized the need to establish a sustainable growth foundation centered on future business, artificial intelligence (AI) transformation, and safety management.On August 13, HD Hyundai held a leadership meeting at its Global R&D Center in Pangyo, attended by Jung and vice chairmen Cho Young-cheol, Cho Seok, and Lee Sang-kyun, along with CEOs from 11 subsidiaries in shipbuilding, marine, energy, and construction machinery.During the meeting, the leadership reviewed the first-half performance of each subsidiary, new business initiatives, and future growth strategies. They also discussed various plans and execution strategies for the second half of the year to overcome domestic and international uncertainties.The group shared key issues, including the acceleration of AI transformation, and assessed the feasibility of an execution roadmap to lead the market. They checked the current status of AI technology implementation across the group and evaluated the effectiveness of preventive measures against potential information security risks.Jung stated, "Despite the increasing uncertainties worldwide, our group has achieved solid results in most of our businesses. If decisions are made with a focus on long-term outcomes rather than immediate results, the priorities of what needs to be done now may change."He added, "We have painful experiences of paying a heavy price for being too focused on short-term results and failing to read market changes. I will lead efforts to create a management environment that fosters sustainable growth with a long-term perspective of 10 to 20 years, rather than being trapped by short-term performance."Jung also urged the leadership to think more intensively about future business, stating, "The future we envision can only be realized when safety is guaranteed, so please prioritize safety as the foremost value in management and concentrate your efforts accordingly."Meanwhile, HD Hyundai is accelerating its digital transformation across key sectors, including shipbuilding, energy, and construction machinery, with AI transformation as a core strategy.* This article has been translated by AI. 2026-08-13 14:24:10
Youth Savings Account Program Boosts Income for Low-Income Young Workers The 'Youth Tomorrow Savings Account,' regarded as a vital support for low-income working youth, has shown significant effects on income growth, employment stability, and improved housing conditions. Over three years, the average monthly total income of participants increased by more than 500,000 won, alongside a rise in the proportion of full-time employment, indicating positive socio-economic changes backed by statistics. On August 13, the Ministry of Health and Welfare released the results of its fourth-year panel survey of participants in the 'Youth Tomorrow Savings Account' program. This initiative helps low-income working youth save 100,000 won monthly, with the government providing additional matching funds, enabling them to accumulate a substantial amount after three years. Eligible participants are working youth aged 15 to 39 with a monthly income below 50% of the median income (at least 100,000 won). For those who save 100,000 won each month, the government matches this with 300,000 won. After three years, participants can receive a total of 14.4 million won, including their own savings of 3.6 million won, plus interest of up to 5.0% per year, serving as a stepping stone to financial independence. To analyze the program's effectiveness, the ministry tracked changes over time among 3,241 participants who joined in 2022 and 2023. The results showed that the average monthly total income of 2022 participants rose from 1,828,000 won in their first year to 2,349,000 won by 2025, an increase of approximately 521,000 won. Monthly savings grew from 369,000 won to 494,000 won, while debt repayment amounts increased from 342,000 won to 484,000 won, indicating a marked improvement in financial health. Employment stability also improved, with the proportion of full-time workers among 2022 participants rising from 41.1% to 45.2%, and the full-time employment rate increased significantly from 52.2% to 66.5%. Monthly earnings also showed a steady increase from 1,352,000 won to 1,784,000 won. Participants reported improvements in their living conditions as well. The percentage of those living in owner-occupied homes rose from 10.2% to 15.6%, and the proportion living in general or rental apartments increased from 37.0% to 45.4%. Overall housing satisfaction, rated on a scale of 5, increased from 3.47 to 3.58. Participants expressed high satisfaction with the program, stating, "I was able to reduce my debt and make concrete future plans by monitoring my savings each month," and "I maintained my savings and ended up transitioning to a full-time position." Kim Moon-sik, Director of Welfare Policy at the Ministry of Health and Welfare, stated, "This analysis confirms that the Youth Tomorrow Savings Account program has led to positive changes in economic, financial, employment, and housing aspects. We will continue to develop the program to support the independence of low-income working youth more effectively."* This article has been translated by AI. 2026-08-13 14:24:00
Seragem Customers Prioritize Design When Buying Massage Chairs Nearly half of customers purchasing massage chairs consider design a key factor in their decision-making process.On August 13, Seragem conducted a survey of 802 customers who bought the Pause M collection. The results showed that 48.3% prioritized design, followed closely by product efficacy and effectiveness at 46.2%. Other factors included benefits, user reviews, and product price. This indicates that customers are not only focused on the product's core benefits but also on how well it integrates with their living spaces.In terms of post-purchase satisfaction, design and heating features received high marks. Among customers of the 'Pause M8 Fit,' satisfaction ratings were highest for color (85.9%), exterior finish material (83.2%), and size (82.1%), with the patented direct heating function following at 78.8%. Of the 19 survey items, the top four satisfaction ratings were related to design and heating features.Seragem's Pause M collection is a premium massage chair that incorporates patented direct heating balls to provide deep massage and heating functions while enhancing design to blend seamlessly into living spaces. The 'Pause M8 Fit' features interchangeable side covers, allowing for a total of 12 style combinations based on color, material, and pattern.Previously, in December of last year, Seragem introduced the 'Pause M8 Fit' in collaboration with emerging artist Seo Ho-seong at the Seragem Wellstore in Yongin Giheung.A Seragem representative stated, "This survey confirmed that not only core performance aspects like massage and heating functions are important, but also the design that harmonizes with home environments is a significant consideration during the purchasing process."* This article has been translated by AI. 2026-08-13 14:24:00
Youth Housing Policy Faces Backlash Over Limited Options The government is set to introduce a policy mortgage aimed at supporting first-time homebuyers under the age of 39 in purchasing non-apartment properties valued at up to 400 million won. Online reactions have surfaced regarding this initiative.Critics argue that the government's plan to eliminate the requirement for desks in goshiwon (small residential units) and allow bathtubs instead effectively forces young people to choose between villas and goshiwon.According to a comprehensive financial plan for stabilizing the real estate market announced by the Financial Services Commission on August 13, the 'Youth Future Bogeumjari Loan' will be launched in January 2027. This program is designed for first-time homebuyers under 39 years old, allowing them to purchase non-apartment properties with a maximum area of 85 square meters.The loan-to-value (LTV) ratio will be set at a maximum of 80%. Income eligibility is capped at 70 million won per year, and for newlywed couples, the income threshold will be based on the earnings of one spouse rather than the combined income.The government describes this initiative as a 'ladder to home ownership at the level of monthly rent.' Considering that the average monthly rent for non-apartment properties is around 800,000 won, the government provided an example where a loan of 200 million won over 30 years at a 3% interest rate would result in a monthly payment of approximately 850,000 won.However, the government's push to relax regulations on goshiwon as a viable living space for single-person households has intensified backlash online.On August 12, the Ministry of Land, Infrastructure and Transport announced plans to revise building standards for multi-use facilities. Currently, goshiwon can have individual bathrooms and shower stalls, but bathtubs are not permitted, and facilities for studying, such as desks, are required. The ministry plans to change these standards to allow bathtubs and remove the desk requirement, with implementation expected as early as January 2027.Despite the government's explanation of these two policies as a 'youth housing ladder,' critics argue that they ultimately shift the burden of non-apartment housing onto young people.Online users expressed their frustration, with comments like, 'Are you telling us to live in villas for life instead of aspiring for apartments?' and 'This translates to 'just live in a villa.' Others pointed out that in major areas of Seoul and Gyeonggi, many villas already exceed 400 million won, suggesting that the government is merely pushing young people to buy properties that match those prices.Additionally, some questioned the logic of equating renting with homeownership, stating, 'Buying a house and paying rent are completely different issues, so I don't understand how you can say you can buy a house at the level of monthly rent,' and 'Is this really the right approach when it just costs more money?'Some have raised concerns about the effectiveness of the policy, suggesting it presents young people with a choice between villas and goshiwon, and appears to be a strategy to encourage non-apartment purchases for those unable to afford apartments. 2026-08-13 14:24:00
Gwangju, South Korea, Faces Severe Agricultural Losses Due to Drought and Heatwave As prolonged drought and heat continue, agricultural damage in Gwangju, South Korea, has exceeded 100 hectares, with livestock deaths reaching 320,000. The Gwangju Metropolitan City announced on the 13th that it is continuously monitoring agricultural water supply and enhancing emergency water delivery and support for farmers, particularly in areas with low reservoir levels. As of August 11, the total agricultural damage due to drought and heat has been reported at 103.7 hectares across 17 cities and districts. In terms of specific crops, rice has suffered damage on 32.3 hectares, representing 0.02% of the total cultivated area, while soybeans have been affected on 21.2 hectares, or 0.17% of their cultivated area. The impact on livestock is even more severe. In 19 cities and counties, 218 farms have reported the death of 320,100 animals due to the heat. The shortage of rainfall has also raised alarms regarding the availability of agricultural water. The cumulative rainfall in the Gwangju area stands at 738.2 mm, which is 82% of the normal level of 900.1 mm. The average water level in 3,206 local reservoirs is at 44.1%, significantly lower than the normal level of 64.7%, which is 68.2% of the average. The Gwangju Metropolitan City is utilizing nearby pumping stations to supply agricultural water to areas with low reservoir levels and is deploying available equipment, including fire trucks and water supply vehicles, to provide emergency water support. The city has also requested an expansion of government support to alleviate the burden on farmers. On August 5, it proposed additional tax-exempt fuel allocations for agricultural water pumps in drought-affected areas and an expansion of the subsidy program for tax-exempt agricultural fuel linked to fuel prices. Farmers who have subscribed to crop disaster insurance are being advised to report damages promptly to agricultural cooperatives to facilitate early insurance payouts. In collaboration with the Agricultural Technology Institute, the city is enhancing on-site technical guidance for the recovery of damaged crops through foliar fertilization and pesticide application. Livestock farmers are being provided with heat stress relief products and are encouraged to reduce their livestock numbers by 10% and to consider early sales to minimize further losses. The number of heat-related illnesses among farmers is also on the rise. As of August 9, there have been 70 reported cases, an increase of 14 from the same period last year. Among these, 32 cases, or 45.7%, involve individuals aged 70 and older. The Gwangju Metropolitan City has deployed heat illness prevention personnel and safety managers to the field and is strengthening safety management for vulnerable groups, including elderly farmers, during the heatwave. Jeong Won-jin, head of the Gwangju Metropolitan City’s Food and Horticulture Division, stated, “In the ongoing situation of heat and drought, ensuring the safety of farmers and preventing crop damage is of utmost importance. We will strengthen field inspections and utilize available resources and budgets to secure agricultural water and minimize damage.”* This article has been translated by AI. 2026-08-13 14:20:00
Election Season Arrives for War Leaders: Trump, Putin, Netanyahu Face Voter Judgment Leaders of nations engaged in conflict will face voter judgment this fall. U.S. President Donald Trump, grappling with rising prices due to the war with Iran, Russian President Vladimir Putin, burdened by the prolonged war in Ukraine and fuel shortages, and Israeli Prime Minister Benjamin Netanyahu, whose political standing is shaken by the war in Gaza and a hardline stance on Iran, are at the forefront.The Russian State Duma elections are set for September 20, Israel's general elections on October 27, and the U.S. midterm elections on November 3. The Nihon Keizai Shimbun reported on the 13th that "the public's anxiety in each country is forcing leaders to focus on domestic issues, making the election outcomes potential variables in the Iran and Ukraine wars."As a result of the war with Iran, gas prices have surged, creating a 'price backlash' for President Trump. According to averages from various polls compiled by RealClearPolitics, Trump's approval rating has dropped to 39%, the lowest level since he took office.Trump, engaged in a standoff with Iran, maintains a tough stance regarding the Strait of Hormuz, leading to a stalemate in negotiations. Stabilizing shipping through the Strait could help lower international oil prices and gas costs, but if Trump concedes to Iran, he risks facing criticism both domestically and internationally.The Republican Party currently controls the presidency and both houses of Congress. However, various polls indicate a competitive race between Republicans and Democrats in the upcoming midterm elections. If the Republicans lose their majority in Congress, it could lead to a significant weakening of Trump's influence and increased congressional oversight of the war with Iran.In Russia, fuel shortages are hindering Putin's administration. Ukraine continues to target Russian oil facilities with long-range drone strikes, resulting in widespread fuel shortages across the country.According to the All-Russian Public Opinion Research Center (VCIOM), Putin's approval rating in July was 65%, a 10 percentage point drop from the beginning of the year, marking the lowest level since Russia's invasion of Ukraine in February 2022.While the ruling United Russia party is expected to win in the September elections, the number of seats it secures will be a key indicator of the stability of Putin's regime.Public fatigue over the prolonged war is growing in Russia. A July survey by the independent Levada Center found that 62% of respondents believe peace negotiations should begin. The Nikkei noted, "With Ukraine refusing any concessions, there is keen interest in whether President Putin will adopt a flexible approach in negotiations."Israel will hold its general elections in October, the first since the war in Gaza began following the Hamas attack in October 2023.Currently, Netanyahu is facing political pressure for failing to prevent the Hamas assault and is also on trial for corruption charges.Netanyahu, who has maintained a hardline stance on the Palestinian issue and Iran, could face calls to resign if his ruling coalition fails to secure a majority in the upcoming elections. The Nikkei stated, "Netanyahu's fate will significantly influence the situation in the Middle East." 2026-08-13 14:12:20