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  • New Destination Restaurant Sanrakutei Opens in Kanazawa, Japan
    New Destination Restaurant 'Sanrakutei' Opens in Kanazawa, Japan A new destination for culinary travelers has opened in Kanazawa, Ishikawa Prefecture, Japan.Ken Hotel & Resort Holdings recently announced the opening of 'Sanrakutei,' a destination restaurant that emphasizes food culture experiences in the Kanazawa area, on August 8.Recently, the travel industry has seen a trend toward 'culinary tourism,' which goes beyond visiting famous tourist spots to deeply experience local food culture and ingredients. Sanrakutei aims to provide a rich culinary experience that reflects the abundant nature and history of the Hokuriku region.The restaurant's cuisine features a blend of traditional Kanazawa dishes, known as 'Kaga cuisine,' with French cooking techniques. It offers unique course meals based on carefully selected seasonal ingredients from the Hokuriku region. Additionally, a sommelier has curated a selection of about 150 wines from around the world, along with local sake from Ishikawa Prefecture, to suggest perfect pairings with the dishes.The interior of the restaurant captures the local identity, featuring six private rooms with a total of 32 seats and a 10-seat open counter. Notably, the private rooms are named after prominent locations in Ishikawa Prefecture, such as 'Noto,' 'Kanazawa,' and 'Kaga,' adding symbolic significance.Its geographical advantage is also noteworthy, located about a three-minute walk from Omicho Market, known as the 'Kitchen of Kanazawa.' It is approximately a seven-minute drive from JR Kanazawa Station and close to major tourist attractions like Kanazawa Castle Park and Kenrokuen, making it convenient for combining sightseeing with dining.Sanrakutei also benefits from synergy with nearby sister hotels. It is about a two-minute walk from 'The Hotel Sanraku Kanazawa,' operated by Ken Hotel & Resort Holdings, and about a six-minute walk from 'Kanazawa Hakuchoro Hotel Sanraku.' The hotel group is currently offering a 'Stay + Culinary' package plan that combines accommodations at the two hotels with Sanrakutei's course meals, enhancing the value of travelers' stays.A representative from Ken Hotel & Resort Holdings stated, 'Sanrakutei aims to convey the culinary culture and local charm of Kanazawa through a food culture experience that becomes the purpose of travel. By connecting with the hotels operating in Kanazawa, we hope to provide customers with a new stay experience and a special time that makes them want to return.'* This article has been translated by AI. 2026-08-13 09:48:00
  • President Lee Calls for Tax Normalization Amid Business Sector Backlash
    President Lee Calls for Tax Normalization Amid Business Sector Backlash 이재명 대통령은 13일 정부의 가업상속공제 개편으로 공제 대상에서 제외된 일부 업종 사업자들의 반발과 관련해 “부당감면 축소는 조세 정상화의 길”이라고 밝혔다. 이 대통령은 엑스(X·옛 트위터)에 올린 글에서 “이런 업종에 수백억원씩 상속세 감면을 계속하는 게 공정할까요”라며 이같이 적었다. 이 대통령은 택시·버스 운송업과 마트·병원·약국 등이 가업상속공제 대상에서 추가로 제외되면서 해당 업종 사업자들이 반발하고 있다는 내용의 기사를 함께 공유했다. 가업상속공제 대상 축소가 기업의 정상적인 승계를 가로막을 수 있다는 비판에 대해 과도한 세제 혜택을 정상화하는 조치라는 입장을 밝힌 것이다. 가업상속공제는 중소·중견기업 경영자가 사망한 뒤 상속인이 기업을 이어받을 경우, 가업상속재산을 상속세 과세가액에서 공제해 주는 제도다. 상속세 부담으로 기업 경영을 포기하거나 매각하는 사례를 줄이기 위해 1997년 도입됐다. 그러나 제도 적용 범위가 확대되는 과정에서 실제로 빵을 만들지 않는 대형 베이커리 카페나 주차장·주유소 등 기술과 경영 노하우의 승계 필요성이 상대적으로 낮은 업종까지 혜택을 받는다는 지적이 제기됐다. 정부는 이에 따라 가업상속공제를 받을 수 있는 업종을 현행 1205개에서 727개로 줄이는 내용의 개편안을 마련했다. 택시·버스 운송업과 마트·병원·약국 등도 새 공제 대상에서 제외됐다. 이 대통령이 공유한 기사에 따르면 정부안이 시행될 경우, 가업을 물려주는 피상속인의 최소 경영기간은 2027년 7월부터 현행 10년에서 30년으로 늘어난다. 상속 이후 업종과 자산·고용 등을 유지해야 하는 사후관리 기간도 5년에서 10년으로 연장된다. 정부는 최대 공제액을 현행 600억원에서 1000억원으로 늘리는 대신 장기간 실제로 경영한 기업에 혜택을 집중한다는 방침이다. 최대 1000억원을 공제받으려면 피상속인이 해당 기업을 50년 이상 경영해야 한다. 기업과 전문가들 사이에서는 개편안의 요건이 지나치게 엄격하다는 반론도 나오고 있는 상황이다. 지난해 가업상속공제를 받은 257건 가운데 경영기간이 30년에 미치지 못한 사례가 67%에 달하는 만큼 상당수 중소·중견기업이 공제 대상에서 제외될 수 있다는 것이다. 정부는 제도 악용 사례를 막기 위해 지원 대상을 정비해야 한다는 입장이다. 국세청이 지난 4월 수도권 대형 베이커리 카페 25곳을 점검한 결과, 11곳에서 가업상속공제를 남용할 소지가 확인됐다. 이 가운데 7곳은 제과점으로 등록했지만 실제로는 빵을 직접 제조하지 않는 커피전문점 형태로 운영된 것으로 조사됐다. 업무와 관련 없는 부동산을 사업장에 포함한 사례도 적발됐다.* This article has been translated by AI. 2026-08-13 09:48:00
  • NH Bank to Provide $1.5 Billion in Financial Support for Local Businesses
    NH Bank to Provide $1.5 Billion in Financial Support for Local Businesses NH Bank will provide 1.5 trillion won in financial support to reduce the financial burden on local businesses, including village enterprises.On August 13, NH Bank announced it will make a special contribution of 10 billion won to regional credit guarantee foundations across the country, which will serve as the basis for the 1.5 trillion won financial support initiative.This support aims to alleviate the funding challenges faced by local businesses and to stimulate the regional economy. NH Bank plans to enter into individual agreements with local governments and regional credit guarantee foundations to tailor support based on regional characteristics and funding needs.In particular, for local businesses struggling with high interest rates, NH Bank will lower the effective interest burden through interest subsidies linked to loans from local governments.The conditions for supporting village enterprises are also expected to improve. The village enterprise system, which has been operated based on implementation guidelines, will now have a legal foundation with the enforcement of the 'Act on the Promotion and Support of Village Enterprises' starting this month. NH Bank is committed to actively supporting the funding needs of village enterprises during the establishment of this system.Kang Tae-young, president of NH Bank, stated, "We hope this financial support will contribute to the sustainable growth of village enterprises and local businesses," adding, "We will expand tailored financial support and inclusive finance through collaboration with local governments and regional credit guarantee foundations."* This article has been translated by AI. 2026-08-13 09:48:00
  • Seoul cuts red tape to fast-track mega AI projects
    Seoul cuts red tape to fast-track mega AI projects SEOUL, August 13 (AJP) -South Korea has hit the accelerator on President Lee Jae Myung’s “chip-and-beyond” industrial drive, clearing land and construction rules holding up more than 4.2 trillion won in planned investment as Seoul races to get new semiconductor capacity in southern region running before his term ends in 2030. The package unveiled Thursday turns Lee’s call earlier this week for a “decisive battle” on industrial investment into a series of rule changes covering semiconductor fabs, batteries, biotechnology, AI data centers and robots. It follows his order Monday to accelerate the Honam semiconductor cluster, including moving military functions from the Gwangju air base by mid-2028 and removing permitting and infrastructure bottlenecks. Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol announced the first round of the government’s on-site corporate investment and innovation support measures at a government meeting on Thursday. The government said it was targeting projects where companies were ready to invest but construction or expansion had been held back by regulation. The biggest immediate beneficiary is the Yongin Semiconductor Cluster. Under the current Building Act, the “one site, one permit” rule requires a company to amend its existing building permit whenever another structure is added. For semiconductor fabs, where designs and equipment layouts can change repeatedly while construction is under way, another expansion can arise before the previous permit amendment is finished, forcing the approval process to start again. The government plans to amend the law in the second half of this year so that additional buildings at sufficiently large industrial complexes can receive separate permits and proceed independently. It estimates the change can bring forward about 2.5 trillion won of investment at the Yongin cluster. The move fits a much broader race to compress Korea’s semiconductor construction calendar. Lee told officials Monday that speed was now the overriding priority, citing the rapid construction of Taiwan Semiconductor Manufacturing Co.’s plant in Kumamoto, Japan. His government is pushing to have the first Honam semiconductor fab completed in 2029, before his five-year term expires in June 2030. Samsung Electronics and SK hynix have pledged large-scale investment in the Honam project, where four fabs are planned on the Gwangju military airport site. The government has also been trying to advance electricity and water infrastructure so construction schedules are not dictated by utility bottlenecks. The Honam cluster alone is expected to require about 650,000 tons of industrial water a day. The same urgency is being applied to Yongin. SK hynix plans four fabs there, with the first cleanroom due to open in February next year and production expected as early as May. Its target for completing all four fabs has been pulled forward to 2033. Samsung Electronics, which plans six fabs at its separate Yongin complex, is targeting completion of its first fab in 2029 and the full complex by 2040. According to the Ministry of Finance and Economy release, the government will exempt from gift tax property and other contributions made to semiconductor process verification organizations such as Trinity Fab, a shared testbed intended to help materials, parts and equipment companies validate technologies across five semiconductor processes. The project carries investment of about 800 billion won through 2031. For batteries, recycling businesses will be allowed into the Gumi and Pohang national industrial complexes. Recycling has been treated as a waste-related business even though recovered lithium, nickel, cobalt, manganese and graphite feed directly back into battery manufacturing. Opening the complexes to those companies is expected to support about 100 billion won of new investment. In biotechnology, Cheongju will move to convert municipally owned green space adjoining an existing plant in the Ochang Science Industrial Complex into industrial land, allowing a manufacturer to build a physically connected expansion. The government puts the resulting investment at about 530 billion won. Another 350 billion won is expected from the Iksan National Food Cluster after land reserved for beverage manufacturers is opened more broadly to food and beverage producers. Beverage-only lots had a sales rate of just 22.2 percent at the end of last year, compared with 90.3 percent for food-and-beverage sites. The second part of the package attacks rules written for factories and buildings that look increasingly different from the facilities now being built. For six advanced strategic industries — semiconductors, batteries, displays, biotechnology, robots and defense — the government plans to introduce performance-based fire-safety design that uses computer simulations instead of applying uniform building requirements. Safety inspections required when semiconductor fabs expand their city-gas systems will also be shortened from seven days to three. The government said fabs can carry out roughly 1,800 such expansions a year, making repeated inspections a source of equipment start-up delays. AI data centers will get their own regulatory relief. Because they require relatively few on-site workers, server-room space will be excluded when calculating some parking, elevator and artwork-installation requirements under implementing rules for the AI Data Center Special Act. The government will also draw clearer safety rules for collaborative and mobile industrial robots so machines designed to work alongside people can operate without being forced into standards written mainly for fixed robotic arms. Detailed KS and ISO-based guidelines are due in the first half of 2027. Land-use rules will be loosened as well. Industrial complexes will be allowed to designate as much as 50 percent of their industrial land for zones open to otherwise restricted industries when needed for new businesses or RE100 projects, up from 30 percent. Requirements for special industry districts will also be eased from consent by two-thirds of landowners to a simple majority. For nationally important industrial complexes, the land minister will be empowered to designate “urban innovation zones” allowing far denser mixed-use development. Such zones have no fixed use restrictions and can theoretically exceed the statutory floor-area ratio ceiling of 1,500 percent. The first package is part of a wider push accompanying Lee’s three mega-project strategy spanning semiconductors, AI data centers and physical AI. The government said a second round focusing on other advanced projects and green industries will follow in the third quarter. AJP Takeaways: South Korea is cutting red tape for mega AI and semiconductor projects, easing land, construction and industrial-zone rules to accelerate private investment in strategic industries. The Yongin semiconductor cluster is the biggest immediate beneficiary, with separate building permits for fab expansions expected to bring forward about 2.5 trillion won ($1.8 billion) in investment and gas-safety inspections shortened from seven days to three. President Lee Jae Myung is pushing a broader chip-and-AI buildout beyond the existing Gyeonggi base, including the planned Honam semiconductor cluster, as Seoul seeks faster execution of projects involving Samsung Electronics, SK hynix and related AI infrastructure. 2026-08-13 09:45:00
  • Hyundai Motor Group Unveils Temper in Collaboration with KIRARA
    Hyundai Motor Group Unveils 'Temper' in Collaboration with KIRARA Hyundai Motor Group announced the release of the music track 'Temper' (정련) on August 13, created in collaboration with renowned South Korean electronic musician KIRARA.'Temper' musically illustrates the transformation of iron through numerous refinements into a car, featuring a mystical introduction that hints at the raw material's infinite potential, gradually building beats that shape the vehicle's form, and concluding with a clear finish as the completed car emerges.To accurately convey the advanced technologies used in vehicle production, the track incorporates elements of ambient techno, blending glitch and breakbeat to enhance its intricate and mysterious feel.This music release represents a new effort by Hyundai Motor Group to connect with customers through the sensory language of music, reflecting the journey of technological development the company has undertaken.KIRARA, who began her career in 2014, has released multiple albums, including five studio albums. Her music is characterized by a delicate combination of melodies that evoke both sadness and excitement simultaneously. She has performed at various venues, including live clubs and dance clubs, as well as at major events such as the Pentaport Rock Festival, the Venice Biennale in Italy, South by Southwest (SXSW) in the United States, and Primavera Pro in Spain.Notably, KIRARA won the Best Electronic Album award at the 23rd Korean Music Awards in February for her fifth album 'KIRARA,' marking her second win in this category, nine years after her first win for her second album 'moves' in 2017.KIRARA stated, "Working on a piece that expresses Hyundai Motor Group's new technologies was a continuous wonder, reminiscent of when I first learned synthesizing as a musician. I aimed to express the intricate feelings I experienced when encountering such advanced technology through equally sophisticated music."A representative from Hyundai Motor Group remarked, "The newly released track 'Temper' is an attempt to express the company's innovations in the mobility market, transcending industrial boundaries such as robotics and SDV. We hope to convey the efforts of refinement through our collaboration with KIRARA, who is leaving an experimental mark on Korean popular music."Additionally, Hyundai Motor Group plans to release a video showcasing manufacturing technologies utilizing the 'Temper' track by the end of this month.* This article has been translated by AI. 2026-08-13 09:40:00
  • SGA Solutions SGA ZTA ICAM Achieves GS Certification, Expands Focus on Public and Financial Sectors
    SGA Solutions' 'SGA ZTA ICAM' Achieves GS Certification, Expands Focus on Public and Financial Sectors SGA Solutions, a specialized IT security company, announced that its Zero Trust-based integrated account authentication and privilege management solution, 'SGA ZTA ICAM,' has become the first ICAM solution in South Korea to receive GS certification.The GS certification is a national software quality certification that comprehensively evaluates the functionality, reliability, and usability of software.SGA ZTA ICAM is a Zero Trust solution that integrates authentication, privilege management, and access policy establishment and distribution based on user and account information. It applies the principle of least privilege for each user through a Policy Decision Point (PDP) and continuously verifies all access. Additionally, it enhances the efficiency of account and privilege management for security personnel by providing user information collection and distribution, process management, threat analysis, and self-service features on a single platform.SGA Solutions stated, "With this certification, SGA ZTA ICAM has been recognized for its technology and stability as a Zero Trust-based integrated account authentication and privilege management solution." The company explained that it has proven to meet the software quality standards required across various industries, including public institutions.As generative AI and agentic AI become more widespread, the scope of account management for companies is expanding from user accounts to non-human accounts (NHI) such as service and API accounts. Consequently, integrated management of user and non-human account privileges and continuous verification of all access are emerging as key elements of a Zero Trust security framework.With the acquisition of this GS certification, SGA Solutions plans to expand its ICAM business targeting various industries, including public institutions, finance, and manufacturing.Choi Young-cheol, CEO of SGA Solutions, remarked, "With the rise of generative AI and agentic AI, the demand for ICAM to safely manage not only user accounts but also system and service accounts (NHI) is rapidly increasing. We will leverage this GS certification to expand our business into public markets and various industries such as finance and manufacturing, securing continuous growth opportunities."Meanwhile, SGA Solutions is participating as the lead contractor in a project organized by the Ministry of Science and ICT and the National IT Industry Promotion Agency, titled 'Development of a Korean-style Zero Trust Open Platform Technology Compliant with Global Standards.' Through this initiative, the company plans to establish a Zero Trust platform compliant with global standards such as NIST SP 800-207 and create an interoperable environment based on open APIs, linking AI-based threat analysis with continuous verification.* This article has been translated by AI. 2026-08-13 09:40:00
  • Fire in Gayang-dong Apartment Claims Lives of Mother and Son
    Fire in Gayang-dong Apartment Claims Lives of Mother and Son A fire in an apartment in the Gayang-dong area of Gangseo District has resulted in the deaths of a mother and her son. The fire reportedly began in a storage room, and a neighbor was the first to call emergency services.According to Yonhap News, at around 4:55 p.m. on August 11, a resident from the adjacent unit heard the fire alarm and noticed gray smoke in the hallway, prompting them to report the fire to 119.Firefighters arrived on the scene within five minutes, forced open the door, and entered the apartment. They managed to control the flames approximately 25 minutes after the fire started, at 5:19 p.m., and extinguished it completely by 6:08 p.m.The bodies of the mother and son were found in the apartment's flower bed. Police suspect that they may have jumped from the 15th floor as the fire spread.The deceased were residents of the apartment unit where the fire occurred, consisting of a couple in their 60s and their 38-year-old son. It is believed that the father was out of the house at the time of the fire, having escaped the danger.To determine the exact cause of death, police plan to request autopsies from the National Forensic Service.The fire is believed to have originated in a storage room, and police and fire officials are set to conduct a joint investigation on August 14 to pinpoint the exact ignition source and cause of the fire.* This article has been translated by AI. 2026-08-13 09:36:10
  • Delivery Services Halt Ahead of Liberation Day; What to Expect from Coupang and Kurly
    Delivery Services Halt Ahead of Liberation Day; What to Expect from Coupang and Kurly Major delivery services in South Korea will temporarily halt operations ahead of Liberation Day. Starting August 13, the collection of some fresh, refrigerated, and frozen foods will be suspended, prompting consumers awaiting deliveries to check their schedules.According to the logistics industry on August 13, CJ Logistics, Hanjin Express, and Lotte Global Logistics will observe a 'Delivery Break' from August 14 to 15, coinciding with Liberation Day. During this period, the delivery operations of these major companies will be paused.CJ Logistics will have approximately 20,000 delivery drivers take a break on August 14 and 15. The daily delivery service, O-NE, will also cease operations for these two days.Notably, products with shorter storage periods will be affected a day earlier. CJ Logistics will stop collecting fresh, refrigerated, and frozen items starting August 13. Deliveries are expected to resume in phases beginning August 16.Hanjin Express and Lotte Global Logistics will also suspend their delivery services on August 14 and 15. However, specific operational schedules may vary by company, so customers should verify their delivery timelines with their respective couriers.Not all deliveries will be halted. Coupang and Kurly, which operate their own delivery networks, will continue their services as usual on August 14 and 15.The 'Delivery Break' was established in 2020 following discussions between the government and the logistics industry to ensure rest for delivery drivers. This joint holiday system allows drivers to take time off together rather than individually. CJ Logistics has participated in this system every year since its inception in 2020.This year, Liberation Day falls on a Saturday, with the following Monday, August 17, designated as a substitute holiday. According to relevant regulations, if Liberation Day coincides with a Saturday or Sunday, the next non-holiday is recognized as a substitute holiday.As a result, the actual shipping and arrival times for online orders may vary based on the holiday schedules of the retailers and the delivery services used. Customers should confirm the shipping timelines provided by retailers, especially for items like refrigerated, frozen, or fresh foods that have shorter storage periods.* This article has been translated by AI. 2026-08-13 09:36:00
  • Mirae Asset Securities Reports Record Q2 Earnings, Shares Rise 8%
    Mirae Asset Securities Reports Record Q2 Earnings, Shares Rise 8% Mirae Asset Securities is experiencing strong performance after becoming the first in the securities industry to surpass 1 trillion won in net profit for two consecutive quarters.As of 9:20 a.m. on August 13, the Korea Exchange reported that Mirae Asset Securities shares rose by 3,050 won (8.36%) to 39,550 won compared to the previous trading day.The surge in investor sentiment is attributed to the company's announcement of record Q2 earnings, driven by balanced growth across its global operations, brokerage, and wealth management sectors.For the second quarter of this year, Mirae Asset Securities reported a consolidated net profit of 1.9052 trillion won, a 369.4% increase from the same period last year. This marks a 90.2% rise compared to the previous quarter's profit of 1.002 trillion won, setting a record for the securities industry with two consecutive quarters exceeding 1 trillion won in net profit.The cumulative net profit for the first half of the year reached 2.9072 trillion won, up 338% from the same period last year. During the same timeframe, pre-tax profit increased by 349% to 3.8863 trillion won. By the end of Q2, the company's equity capital expanded to 16.2 trillion won, with an annualized return on equity (ROE) of 39.5% for the first half.Mirae Asset Securities stated, "We will continue to strengthen our long-term trust with clients and develop into a global investment platform that contributes to their successful asset management."* This article has been translated by AI. 2026-08-13 09:36:00
  • Naver invests in wave-powered ocean data center startup Panthalassa
    Naver invests in wave-powered ocean data center startup Panthalassa SEOUL, August 13 (AJP) - Naver announced it has invested in Panthalassa, a U.S. startup building floating, wave-powered artificial intelligence data centers, deepening its push to lock down next-generation infrastructure as the global scramble for computing power intensifies. The deal revealed Thursday extends a rapid buildout by Naver, which has been racing to secure AI capacity through a string of high-profile partnerships. In July, the company, Nvidia and Brookfield Asset Management agreed to expand Naver's AI factory at its GAK Sejong hyperscale data center to 200 megawatts by 2028 under a $10 billion financing plan, one of the largest sovereign AI infrastructure commitments outside the United States. Founded in Oregon in 2016, Panthalassa is developing buoyant data centers that draw power directly from ocean waves, sidestepping the fuel and land costs that weigh on conventional facilities. Its nodes generate electricity, run AI computations and cool their servers with cold seawater, all offshore and untethered to the grid. The systems transmit results to shore through low-Earth-orbit satellite networks such as Starlink, which offer low latency well suited to AI inference and skirt the geographic limits of undersea cabling. The design lets the platforms perform AI workloads at sea without dedicated transmission lines. Panthalassa has tested earlier platforms dubbed Ocean-1 and Ocean-2, and plans to deploy its Ocean-3 pilot series this year, targeting commercial operation in 2027. "Naver is expanding into AI data centers and rapidly securing differentiated infrastructure through global partnerships," Naver CEO Choi Soo-yeon said. "We will invest preemptively in next-generation technologies such as wave-based renewable AI data centers to strengthen our competitiveness in the global AI infrastructure market." AJP Takeaways • Naver said on Aug. 13, 2026, that it has invested in Panthalassa, an Oregon-based startup founded in 2016 that builds floating, wave-powered AI data centers cooled by seawater and linked to shore via low-Earth-orbit satellites such as Starlink. • The deal builds on Naver's aggressive AI infrastructure push, including a July 2026 agreement with NVIDIA and Brookfield Asset Management to expand its AI factory at the GAK Sejong data center to 200 megawatts by 2028 under a $10 billion financing plan. • Panthalassa, backed by investors including Peter Thiel, raised $140 million in May 2026 and plans to deploy its Ocean-3 pilot series this year, targeting commercial operation in 2027. 2026-08-13 09:33:03