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Ruling Party Calls for Fairness in Pension Reform for Basic Recipients The Democratic Party's Special Committee on Pension Reform stated on August 12 that "protection for basic recipients and fairness for new enrollees must be considered during the reform process."Nam In-soon, chair of the Special Committee, made the remarks during a full committee meeting at the National Assembly, noting, "Recently, President Lee Jae-myung mentioned a method of gradual adjustment for new entrants while ensuring that existing recipients do not see a reduction in their benefits regarding the basic pension reform."She added, "The basic pension is a crucial system that supplements the retirement income of elderly individuals who have short National Pension contribution periods or low incomes, making it essential to establish adequate safeguards to prevent sudden reductions or exclusions for existing recipients during the reform process."Nam emphasized, "There should not be significant differences in benefit eligibility or amounts for elderly individuals with the same income level simply due to a few months' difference in their birth dates."Additionally, she stated, "The impact of the basic pension on living allowances and its relationship with the National Pension must also be reviewed as part of a multi-layered income security system for the elderly. Systems like the basic pension, which have direct and widespread effects on people's lives, should be pursued after thorough discussion and social consensus."As chair, she promised to continue the discussions among committee members to develop a reliable income security plan for the elderly that encompasses various generations and social classes.* This article has been translated by AI. 2026-08-12 16:36:10 -
Ahn Cheol-soo Calls for Exclusion of Pro-Unity Faction from Nominations Ahn Cheol-soo, a member of the People Power Party, stated on August 12 that members of the pro-unity faction should be excluded from nominations. In response, Jeong Hee-yong, chair of the party's Organizational Strengthening Special Committee, said, "We plan to conduct a thorough review and consider various conditions."After a meeting of the special committee, Jeong told reporters, "As someone responsible for the practical aspects, I believe it is inappropriate to express personal opinions," while conveying Ahn's stance. Earlier, Ahn emphasized at a press conference, "Now is the right time to activate the special committee," asserting that the 'reunification movement faction' that divides the party should be eliminated.During the special committee meeting, it was decided to report on the scope of the committee's work and the direction of its initiatives regarding the regular selection of party committee chairs to the Supreme Council for approval. Following this approval, the committee will establish internal criteria and designate problematic party committees for the selection of new chairs.Additionally, it appears that the selection process will proceed even for current lawmakers whose terms expire at the end of this month. In response to questions from reporters, Jeong stated, "There are no exceptions according to the party constitution and regulations."Earlier, Jang Dong-hyuk, the party leader, also appeared on the Daily Newspaper's YouTube channel 'Lee Dong-jae's News Cabinet' and stated, "We will not operate in a way that automatically extends terms after they expire," adding that the basic idea is to appoint new committee chairs through an open application process in accordance with party rules.* This article has been translated by AI. 2026-08-12 16:36:00
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Reconstruction Options Expand in First-Generation New Towns as Remodeling Market Evolves As reconstruction options expand in first-generation new towns, the remodeling market is entering a phase of 'sorting the wheat from the chaff.' Some complexes in Pyeongchon and Ilsan are considering transitioning to reconstruction due to high contribution fees and limited general sale volumes, while areas in Seoul and the metropolitan region that have made significant progress or where reconstruction is less beneficial are continuing with remodeling.According to the maintenance industry on August 12, conflicts surrounding remodeling projects are intensifying at the Daelim Apartments in Pyeongchon, Anyang. A committee opposing the project, formed by some members, recently announced a meeting to dismiss the association's executives. It is reported that they are seeking a change in leadership due to a lack of progress in dissolving the remodeling association and transitioning to reconstruction.In Ilsan, the Muncheon Village 16 complex is also pursuing remodeling, but some residents are voicing demands for a transition to reconstruction. High contribution fees are seen as a barrier to advancing the project, leading to calls for reconstruction.The primary reason for the growing conflict over remodeling in first-generation new towns is the comparative profitability with reconstruction. While remodeling has advantages in terms of project duration and procedures by utilizing existing structures, it is limited to increasing the number of units by only 15% of the existing total, which restricts the volume available for general sale.Rising construction costs are also a burden. The nature of remodeling, which involves maintaining existing buildings while adding new structures, can lead to significant expenses for structural reinforcement and equipment replacement. As construction costs rise, the contribution fees for members also increase.Although the government has established special measures to stimulate remodeling, there are limitations. If remodeling is pursued in designated special maintenance zones for aging planned cities, the limit on the increase in the number of units can be relaxed to a maximum of 140% of the existing housing law cap. This means the increase limit can rise from 15% to a maximum of 21% compared to the existing number of units.However, in complexes with limited existing space, even if the number of units is increased, the impact on profitability through general sales remains limited. Ultimately, the advantages and disadvantages of reconstruction versus remodeling will depend on existing floor area ratios, the potential volume for general sales, and the stage of project progress.Nonetheless, the overall remodeling market is not in decline. In areas where the benefits of transitioning to reconstruction are minimal or where projects are already well underway, remodeling continues. In Yongin's Suji District, projects are being pursued by Shinseong, Sinan, Ssangyong, and Jinheung, while six complexes, including Suji Choiip Village, Bowon, Dongbu, Hanguk, Seongbok Station River Park, and Suji Treetree, have completed their project plan approvals.The Garak Hanshin Remodeling Association in Songpa District, Seoul, held a meeting on September 9 to select a construction company, choosing POSCO E&C. The existing complex, which has 256 units, is set to transform into a 293-unit building with four basement levels and 20 above-ground floors.Mid-sized construction companies are also viewing remodeling as a key area for contracts. Ssangyong Construction has completed five complexes, including Bangbae Palace and Dogok Dongshin, and is pursuing remodeling for Munjeong Hyundai and Garak Ssangyong 1st. DL Construction, Kolon Global, and Dongbu Construction are also strengthening their capabilities in related projects.Lee Eun-hyung, a researcher at the Korea Construction Policy Institute, stated, “In the past, remodeling was used as an alternative to reconstruction regulations, but as the scale of projects has grown with expansions and the addition of underground parking, the distinct advantages over reconstruction have diminished.” He added, “In the future, there may be an increased demand for remodeling that reduces large-scale construction and enhances aging facilities.” 2026-08-12 16:36:00
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Sempio marks 80th anniversary with 'Cook Happily' campaign Sempio employees shop for company products to cook at home during the 'Cook Happily' campaign marking Sempio's 80th anniversary, held on the first floor of the Sempio building in Jung-gu, Seoul, August 12, 2026. 2026-08-12 16:35:35 -
Sempio marks 80th anniversary with 'Cook Happily' campaign Sempio employees shop for company products to cook at home during the 'Cook Happily' campaign marking Sempio's 80th anniversary, held on the first floor of the Sempio building in Jung-gu, Seoul, August 12, 2026. 2026-08-12 16:34:31 -
Sempio marks 80th anniversary with 'Cook Happily' campaign Sempio employees shop for company products to cook at home during the 'Cook Happily' campaign marking Sempio's 80th anniversary, held on the first floor of the Sempio building in Jung-gu, Seoul, August 12, 2026. 2026-08-12 16:33:31 -
Kim Dae-nyeon Takes Office as Secretary General of the Korean Sports Council Kim Dae-nyeon officially began his duties as the new Secretary General of the Korean Sports Council on August 12.The council announced that the inauguration ceremony for Secretary General Kim was held at 2:30 p.m. in the main conference room on the 13th floor of the Olympic Hall in Seoul.Appointed after prior consultations with the Ministry of Culture, Sports and Tourism and approval from the board of directors, Kim's term will last until August 11, 2028.Born in 1959, Kim is an administrative expert with over 30 years of public service experience. He has held key positions at the National Election Commission, including Public Relations Officer, Director of the Election Training Institute, and Head of Planning and Management. He rose to the level of Secretary General in November 2016 and retired in September 2018, during which he was recognized for his ability to manage large organizations and coordinate effectively, overseeing the 19th presidential election and the 7th nationwide local elections.Kim is also noted for his familiarity with current issues in the sports sector. He has served as the chairman of the election management committee for the 41st and 42nd presidents of the Korean Sports Council and as the chairman of the election system improvement committee, participating directly in the council's institutional reform process for many years.In his welcoming remarks at the inauguration ceremony, Yoo Seung-min, the council's president, stated, "Kim Dae-nyeon possesses proven administrative capabilities and has a deep understanding of the organization and field through his work with the Korean Sports Council. I expect him to play a strong role in making the council a more transparent and trusted organization."In his inaugural speech, Kim expressed, "I feel a heavy sense of responsibility in my role as Secretary General of the Korean Sports Council, which represents sports in South Korea. I will work to ensure that the council becomes a trusted organization for the public and create an environment where employees, member organizations, and the sports community can work with peace of mind."Having commenced his duties, Secretary General Kim will begin by communicating with internal members, including labor unions, and will seek collaboration with member organizations, the Ministry of Culture, Sports and Tourism, and the National Assembly. The Korean Sports Council plans to establish a stable sports administration system based on Kim's capabilities and to pursue change and innovation without disruption.* This article has been translated by AI. 2026-08-12 16:32:20
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Actress Uhm Jung-hwa Discusses 'Okay Madam 2' and the Future of the Series Actress Uhm Jung-hwa has returned to her role as Mi-young in the film "Okay Madam 2," marking her first foray into a film series. After resolving a hijacking in the first installment, she now takes the action to a luxurious cruise ship, delivering an even more thrilling comedic action experience. Uhm skillfully balances intense action with genuine human emotion, creating a nonstop sense of satisfaction. The first film, released in 2020, captured audiences on both television and streaming platforms despite the challenges posed by the COVID-19 pandemic. The enthusiastic response naturally led to a desire for a sequel. Uhm, who has been involved in the project since its planning stages, finds this return particularly meaningful. "I’m both happy and a bit worried that we’re releasing during the August vacation season. However, it’s a time when many people can go to the theaters, so I’m hopeful. 'Okay Madam 2' is the result of our commitment from the first film, where we said, 'Let’s work hard and continue the series.' Since the director, producers, and cast have been involved from the beginning, it has become a precious project that I couldn’t turn down," she said. Uhm expressed pride and responsibility in continuing a female-led action series, openly sharing her eagerness for a third installment. "Continuing a series as a female action film means a lot to me. I’ve always hoped we could make a great film and continue the series, and I’m really happy that it’s happening. I believe this film needs to do well in theaters this summer for a third part to be possible," she added. The setting has expanded from the skies to the ocean, featuring a luxurious cruise and underwater battles, showcasing a grand scale that adds to the film's intensity. Uhm described her first experience on a cruise as exhilarating. "It was my first time seeing a cruise up close, and it was thrilling. I felt the immense pressure from below, and I thought the audience would feel that too. Although we couldn’t go outside while filming on the cruise, it felt like our filming location was also our accommodation, which was tiring yet enjoyable every day," she said. Despite the film's grand scale, Mi-young's return to action is portrayed with a lightness. The sequences that awaken her long-dormant skills add vitality to the story. "In the initial action scene in the basement, Mi-young is still figuring out the situation. I wanted her to instinctively awaken her abilities. After six years of hiding those skills, it was exhilarating for her to rediscover them. I hope that moment resonates with the audience, showing that even when life is exhausting, we can remember what we loved and were good at. I aimed to shoot it in a fun and lively way, and I really enjoyed the practice. If a third film happens, I’m already thinking about what kind of vehicle I could hang off of, like a train roof, but first, the second film needs to succeed!" Facing Mi-young is the captivating villain Anya, played by Choi Soo-young. The fierce action between the two female characters is a highlight of the film. "I wanted our scenes to be as challenging and intense as possible. I hoped it would be a fierce fight rather than just a female action scene. It was a tough day with hail and rough seas, but it was exhilarating. Soo-young has a great sense of rhythm and physicality, which impressed me. Initially, I was nervous because she’s so tall, but we both worked hard to make it look amazing, even falling into the water. We were both completely exhausted that day, and I later sent her a message saying I wanted to applaud her directly," Uhm shared. Uhm's ability to handle intense physical action and underwater scenes is attributed to her rigorous self-discipline and training. "I don’t want to think that I might struggle with any role due to my physical condition. I started building my strength with that mindset, and now I really enjoy it. I maintain a routine of boxing, Pilates, and weight training, and I also fit in yoga and surfing when I can," she explained. Once again, Uhm shares the screen with actor Park Sung-woong, who plays her immature husband, providing a solid comedic foundation for the film. Their chemistry, which sparks with just a glance, contributes significantly to the warmth on set. "When we first met during the first film, I was worried he might be intimidating due to his strong charisma. However, he opened up to me right away, making it easy to act together. This time, our chemistry as a couple felt more natural, and even in scenes where I hit him, he was a reassuring partner. The 'Okay Madam' team feels like family because we see each other so often," she said. The weight of being the lead in the 'Okay Madam' series is not taken lightly by Uhm. However, she cleverly alleviates that pressure through the ensemble cast. "The title of being the lead brings a lot of tension and responsibility. But when you watch the film, you can see that each actor is well-placed, bringing their own humor and life to their characters, which creates a delightful ensemble experience," she noted. Uhm Jung-hwa's ongoing journey is paving the way for new opportunities in Korean female action films. She hopes the success of this project will lead to the emergence of diverse narratives. "There shouldn’t be any limitations on female actors doing action. We’re all waiting for more stories like this. It would be wonderful if more of these narratives could be researched and created. For that to happen, we need audiences to come out and enjoy the film, which will help revitalize theaters and lead to more quality productions," she concluded. At the end of the interview, she highlighted the unique strengths of 'Okay Madam 2' among the various summer films, extending a cheerful invitation to audiences. "There are many options in the summer theater, but I believe 'Okay Madam 2' stands out as a film that the whole family can enjoy together. I hope everyone comes to the cool theater to relieve stress and share genuine laughter while enjoying the thrilling action this summer!" * This article has been translated by AI. 2026-08-12 16:32:00
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Meritz Securities Reports 15.9% Increase in First-Half Net Profit Meritz Securities has reported an increase in first-half net profit, driven by strong performance in its retail and asset management sectors amid a booming stock market.The company announced on August 12 that its consolidated net profit for the first half of the year reached 514 billion won, a 15.9% increase compared to the same period last year. Operating profit during the same period rose to 501.3 billion won, up 11.8%.In the second quarter, operating profit was 245.7 billion won, while net profit stood at 259.7 billion won. Compared to the same quarter last year, operating profit decreased by 18.2%, and net profit fell by 1.4%.Meritz Securities attributed its first-half performance improvement to better results in the retail sector and strong asset management outcomes.A company representative stated, "Despite increased volatility in the financial markets, we continue to see steady growth in the retail sector and solid performance in asset management and financial margins, allowing us to maintain a stable growth trajectory. We will respond flexibly to market conditions through thorough risk management and portfolio diversification."Meanwhile, Meritz Fire & Marine Insurance reported a standalone net profit of 1.0243 trillion won for the first half of the year, a 3.8% increase from the same period last year. In the second quarter, net profit rose by 6.4% to 558.3 billion won. First-half revenue increased by 8.0% to 6.7074 trillion won, while operating profit grew by 5.4% to 1.4006 trillion won. Insurance profit was recorded at 697.5 billion won, and investment profit reached 703.1 billion won, with the asset management investment return rate rising by 0.6 percentage points to 6.0% compared to the end of the first quarter. The provisional solvency margin ratio (K-ICS) was reported at 231%.* This article has been translated by AI. 2026-08-12 16:32:00
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Gyeonggi Province Mayor Shin Gye-yong Wins Appeal Against Shincheonji Church Shin Gye-yong, the mayor of Gwacheon in Gyeonggi Province, has garnered attention for his administration's focus on prioritizing citizen safety and public interest, culminating in a successful appeal against the Shincheonji Church of Jesus. On August 12, Mayor Shin announced that he won the appeal in a lawsuit filed by the Shincheonji Church regarding the cancellation of a request to change the building register for a facility in Byeolyang-dong. The court ruled that Gwacheon's decision to reject the application to modify the building register for the Emart building was lawful. This ruling is significant as it recognizes Gwacheon's approach of considering the overall public interest, including citizen safety, traffic, education environment, and living conditions, as a core criterion in administrative decisions, extending beyond mere building use issues. In 2023, Shincheonji applied to change the use of the ninth-floor cultural and assembly facility at the Byeolyang-dong Emart to a religious facility. Mayor Shin conducted a comprehensive review of the potential impacts on traffic congestion, evacuation and safety issues, and the living and educational environment for nearby residents and students before rejecting the application. In response, Shincheonji filed an administrative lawsuit against Gwacheon in 2024, winning in the first instance. The court at that time determined that the evidence submitted by Gwacheon was insufficient to demonstrate a concrete negative impact on public interest, including citizen safety and property. However, Mayor Shin promptly appealed the first ruling, strengthening his response. In addition to retaining the previous legal representation, he appointed the law firm Logos, which has experience winning similar cases involving Shincheonji, and initiated expert services to objectively prove traffic impacts and resident safety issues. During the appeal process, Gwacheon focused on providing objective data to substantiate concerns about potential traffic congestion and safety, moving beyond mere claims of public apprehension. In March 2026, during the appeal hearings, Gwacheon presented evidence such as on-site assessments and traffic impact evaluations to actively demonstrate concerns about public interest violations. The strong community opposition regarding the change of use for the Shincheonji religious facility also played a role in the appeal's outcome. Residents of Gwacheon have been actively opposing the change through petitions and rallies. In July of last year, a petition with 20,000 signatures was submitted, and a rally in Gwacheon Central Park drew over 1,000 participants, including citizens, Mayor Shin, and local political figures, demanding protection of citizen safety and living conditions. In July of this year, the Gwacheon Citizens' Alliance, along with civic groups, political representatives, and parent and resident representatives, held a joint press conference emphasizing the need to respect religious freedom while also considering students' educational rights, citizen safety, and public welfare. The community's core demand has not been to exclude a specific religion but to ensure that the administration adequately addresses potential traffic and safety issues that could arise from a facility attracting large crowds in the heart of Gwacheon. This appeal ruling is expected to mark a significant turning point in Mayor Shin's administrative and legal response to the community's concerns. Mayor Shin views this ruling as a validation of his administration's commitment to protecting citizen safety and living environments. He stated, "I am grateful that the court recognized the legitimacy of Gwacheon's decision to protect citizen safety and living environments through this appeal ruling." He added, "Moving forward, we will continue to prioritize citizen safety and public interest and diligently pursue administrative and legal measures to protect them."* This article has been translated by AI. 2026-08-12 16:32:00