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  • RIIZE lands second 100 million-stream Spotify hit
    RIIZE lands second 100 million-stream Spotify hit SEOUL, September 17 (AJP) - "Love 119" by K-pop boy group RIIZE has surpassed 100 million streams on Spotify, becoming the group's second song to reach the milestone after "Get A Guitar," SM Entertainment said Thursday. The 2024 single had logged 100,026,078 streams as of Thursday, according to Spotify data cited by the agency. "Love 119" gave RIIZE its first music show win and peaked at No. 3 on Melon's Top 100 chart. The song previously surpassed 100 million streams on Melon in 2025 and has also crossed the mark on YouTube Music. RIIZE is scheduled to release a new single on Oct. 26. AJP Takeaways - "Love 119" became RIIZE's second song to surpass 100 million Spotify streams. - "Get A Guitar" was the group's first track to reach the milestone. - "Love 119" has also surpassed 100 million streams on Melon and YouTube Music. 2026-09-17 11:32:05
  • Venture Capital and Investment Sectors Clash Over Liability in New Technology Financing
    Venture Capital and Investment Sectors Clash Over Liability in New Technology Financing As the venture capital and finance sectors express significant differences regarding the scope of responsibility in new technology financing, financial authorities have announced plans to examine investment contract practices that impose excessive burdens on one party. The government aims to improve contract practices by listening to diverse opinions from market participants.The Financial Services Commission held a meeting on the 16th, chaired by Kim Jin-hong, Director of the Financial Industry Bureau, to promote responsible investment in the new technology finance sector while ensuring smooth funding for startups and technology companies and fostering a healthy investment environment.During the meeting, participants discussed whether existing investment contract practices could impose excessive burdens on investing companies and explored ways to harmonize policy goals of investment activation, moral hazard prevention, and revitalizing the startup ecosystem. Investors, venture companies, and private experts shared various opinions.The venture industry argues that joint liability for individuals should be completely restricted, while the investment sector contends that joint liability is necessary to reflect the characteristics of the new technology finance industry. Private experts emphasized the need for improvements in the market's contract culture and the potential introduction of technical regulations if joint liability is limited.Han In-bae, a section chief at the Korea Venture Business Association, stated, "The prohibition of joint liability should be applied to the new technology finance sector as well, clearly distinguishing between normal business failures and illegal or unjust acts. The same principle of responsibility should apply to all venture investments, regardless of the type of investment institution."Choi Ji-young, representative of the Korea Startup Forum, remarked, "It may seem unreasonable from a startup's perspective that the personal responsibility of founders varies depending on which fund they received investment from. The principle that normal business failure risks should not be transferred to founders must be upheld. When investors propose joint liability, it is difficult for the weaker negotiating position of the invested company to reject the investor's proposal, so it should be limited to the entire company, with exceptions allowed for corporations."Jo Young-rin, CEO of Evertreasure, noted, "In countries like the United States, investors accept investment losses, and reinvestment in failed founders is actively pursued. Unless there is intent or gross negligence, personal liability should be prohibited regardless of the duration of business operations, and even indirect liability transfer, such as through put options, should be restricted to establish a true venture capital culture where investors share risks."The investment sector believes that the new technology finance and venture investment sectors should be viewed differently. Kim Bong-seop, head of Growth Finance, stated, "New technology finance serves as a channel for raising funds for mid-sized companies and has characteristics of the financial industry. Applying the same joint liability restrictions as the Venture Investment Promotion Act, which was introduced to foster venture growth, could hinder industrial development. While a prohibition on policy funds is necessary, a blanket ban on private funds is excessive."Heo Byeong-du, head of Aju IB Investment, commented, "The reason there is no joint liability debate overseas is that various investor protection measures, such as management participation and priority in liquidation, are in place. It is inappropriate to limit joint liability without introducing stability measures domestically."Gil Jun-gil, executive director of Hana Ventures, suggested, "It is not appropriate to uniformly apply the joint liability restrictions of the venture sector to the new technology sector, which has different characteristics in terms of capital and movement patterns. Rather than a blanket prohibition in law, I hope investors can apply it autonomously on a case-by-case basis. The controversy arises because the recovery market does not operate smoothly, so it is also necessary to create an ecosystem where investors can recover their funds through revitalization of the recovery market."Private experts advised that the issue of joint liability in the new technology sector should be approached in various ways. Park Yong-rin, a senior researcher at the Capital Market Research Institute, stated, "According to the principle of equal function and equal regulation, if new technology finance and venture capital have the same functions, it is desirable to introduce the same regulations. However, due to the different characteristics of the two sectors, it is difficult to implement uniform regulations, and detailed consideration of technical matters is necessary."Lee Jong-geon, a lawyer at the law firm Lee & Partners, expressed, "While there is consensus that joint liability for individual founders is undesirable, the issue lies in the method. It is preferable to resolve this through improvements in the market's contract culture rather than through uniform restrictions via legal amendments."Lee Jin, Deputy Governor of the Financial Supervisory Service, stated, "Unlike loans, investments share profits and risks between founders and investors, so imposing joint liability for business failures that founders cannot control should be avoided. Various protective measures can ensure moral hazard prevention and recovery."Kim Jin-hong, Director of the Financial Industry Bureau, concluded, "We will continue to listen to the opinions of the venture industry, investors, and private experts to promote responsible investment while creating an investment environment that allows for smooth funding for startups and technology companies. We will closely examine whether there are investment contract practices that impose excessive burdens on one party and, if necessary, pursue various measures such as model standards and legal improvements."* This article has been translated by AI. 2026-09-17 11:32:00
  • Rural ESG Excellence Awards Focus on Activity Outcomes Starting This Year
    Rural ESG Excellence Awards Focus on Activity Outcomes Starting This Year The Ministry of Oceans and Fisheries, the Ministry of Agriculture, Food and Rural Affairs, and the Ministry of Trade, Industry and Energy will jointly select companies and institutions that have contributed to rural areas and agriculture through ESG activities such as rural cooperation and social contribution. Starting this year, the evaluation system will shift from merely confirming participation in related activities to assessing the actual level and outcomes of these activities.On September 17, the Ministry of Oceans and Fisheries, the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Trade, Industry and Energy, and the Foundation for Cooperation between Large and Small Enterprises and Agriculture announced the recruitment and selection of recognized companies and institutions for the 2026 Rural Environment, Society, and Governance (ESG) Practice System.The Rural ESG Practice System comprehensively evaluates the rural cooperation and social contribution activities performed by companies and institutions, recognizing outstanding entities. Since its introduction in 2022, the number of recognized companies and institutions has steadily increased, from 23 in 2022 to 41 in 2023, 52 in 2024, and 68 last year. Among the recognized entities last year, 17 were private companies and 51 were public institutions.This year, to enhance the effectiveness of the evaluation, the diagnostic indicators have been revised. The previous 33 indicators across the three areas of environment, society, and governance have been consolidated into 30, and the indicators that only confirmed activity participation have been reduced from 15 to 5. This change aims to better reflect the extent to which companies and institutions contribute to rural areas and agriculture in the evaluation.The evaluation will allocate 25 points to 6 environmental indicators, 50 points to 16 social indicators, and 25 points to 8 governance indicators. The environmental section will assess efforts to establish plans considering eco-friendly activities related to rural areas and local environmental issues. The social section will examine support and cooperative activities targeting rural communities, including farmers, local governments, and regional businesses. The governance section will evaluate the presence of dedicated organizations and personnel for supporting and cooperating with rural areas.The total score will be 110 points. A maximum of 10 bonus points will be added based on contributions to the Rural Cooperation Fund to the diagnostic score out of 100. Companies and institutions that achieve a score of 80 or above will be officially recognized.Recognized companies and institutions will receive a certificate along with awards from the Ministers of Oceans and Fisheries, Agriculture, Food and Rural Affairs, and Trade, Industry and Energy. They will also benefit from preferential treatment in the co-growth index evaluation, policy funding limits and interest rates, comprehensive ESG consulting linked to rural areas, and support for discovering and promoting best practices. After the evaluation, support will be provided to ensure the sustainability of related activities through consulting and the discovery and awarding of best practices.Starting this year, the Ministry of Trade, Industry and Energy will participate in the system, allowing the three ministries to jointly recognize outstanding companies and institutions. The government plans to expand related activities by linking corporate ESG management with rural cooperation.Companies and institutions wishing to participate can submit their applications to the Foundation for Cooperation between Large and Small Enterprises and Agriculture from September 18 to October 12. Detailed information can be found in the announcements on the Rural Cooperation Fund website.Jeon Han-young, Director of the Rural Policy Bureau at the Ministry of Agriculture, Food and Rural Affairs, stated, "Through the Rural ESG Practice System, we hope that the ESG activities of companies and institutions will lead to sustainable development in rural areas and solutions to local issues. We will continue to discover and disseminate best practices to ensure that companies and institutions can grow and coexist with rural areas, encouraging active participation from the private sector."Yang Young-jin, Director of Fisheries Policy at the Ministry of Oceans and Fisheries, expressed, "We expect the Rural ESG Practice System to serve as a bridge connecting corporate ESG activities with the sustainable development of rural areas, leading to more cooperative cases that provide tangible benefits to rural communities."* This article has been translated by AI. 2026-09-17 11:28:00
  • Samsung to power Cebu development with AI systems
    Samsung to power Cebu development with AI systems SEOUL, September 17 (AJP) - Samsung Electronics will supply AI-powered home appliances and building management systems to a mixed-use development in Cebu, the Philippines, as the company expands its business-to-business solutions in Southeast Asia. Samsung said Thursday it signed a memorandum of understanding with South Korean property developer DH Plus to provide AI appliances, SmartThings Pro and its b.IoT building management platform for the Glanz Forest Park project. Scheduled for completion in 2030, the development will span about 66,000 square meters and include three residential buildings, a hotel, private villas, commercial facilities and an international school. Samsung plans to install TVs, air conditioners, refrigerators and washing machines in the residential and hotel facilities and connect them through its SmartThings platform. SmartThings Pro will allow building managers to remotely monitor equipment and manage facilities. The company's b.IoT platform will be used to manage heating, cooling, lighting and power systems across common areas and other facilities. The system can also analyze electricity consumption and costs when linked with SmartThings Pro. Samsung also plans to deploy b.IoT at the project's hotel, commercial facilities and international school, using digital twin technology to monitor equipment and predict maintenance needs. An AI agent will be used to manage systems including air conditioning, lighting, electricity and security. Samsung said the project will serve as a model for expanding its integrated B2B building solutions across Southeast Asia. AJP Takeaways - Samsung will supply AI appliances and building management systems to the Glanz Forest Park mixed-use development in Cebu, the Philippines. - The roughly 66,000-square-meter project is scheduled for completion in 2030 and will include residences, a hotel, villas and an international school. - Samsung will deploy SmartThings Pro, b.IoT and digital twin technology to remotely monitor and manage appliances, energy use and building infrastructure. 2026-09-17 11:26:32
  • Minister Park Hong-geun: Budget Should Reflect Contribution to Nation and Citizens
    Minister Park Hong-geun: Budget Should Reflect Contribution to Nation and Citizens Park Hong-geun, Minister of the Ministry of Planning and Budget, stated on September 17, "The reason for the establishment of the ministry must be proven," adding that "the budget should be evaluated based on how much it contributes to the future and lives of the nation and its citizens."During a visit to commemorate the opening of the ministry's press room, Minister Park emphasized the significance of the ministry, which has been operational for nine months. He noted that unlike during the previous era of the Ministry of Strategy and Finance, there is now a focus on what role the ministry will play in planning and what achievements it will deliver.In response to a question about how much excess tax revenue will be added to the 162 trillion won Future Response Fund following a reassessment of tax revenue, Minister Park said, "We will determine how to proceed once the final scale is established."He further explained, "The scale cannot be disclosed yet, and once the Ministry of Finance announces the reassessment results, we plan to go through official procedures and discussions with the Blue House and the Ministry of Finance."Regarding whether the additional funds will be allocated as surplus or added to the expenditure account, Minister Park stated, "The scale needs to be determined first, and since it has not been set yet, we cannot decide how much to allocate where."* This article has been translated by AI. 2026-09-17 11:24:10
  • BNK Financial Group Revamps CEO Selection Process to Enhance Transparency
    BNK Financial Group Revamps CEO Selection Process to Enhance Transparency BNK Financial Group is overhauling its management succession system to enhance the transparency and fairness of the selection process for its holding company chairman and subsidiary CEOs. Notably, the bank's Executive Candidate Recommendation Committee will have increased authority in recommending candidates and will be able to directly provide input during the CEO selection process for subsidiaries. On September 17, BNK Financial Group announced that its Executive Candidate Recommendation Committee held a meeting the previous day in Seoul, where it approved a plan to improve the management succession procedures for the financial holding company and its nine subsidiaries, titled 'Assessment of the Appropriateness of the CEO Management Succession Plan and Amendments.' The proposed changes were developed following consultations with external professional organizations and focus on enhancing the fairness and transparency of the selection process for both the holding company chairman and subsidiary CEOs. First, the start date for the chairman's succession process will be moved from 'three months before the end of the term' to 'five months before.' This change aims to provide sufficient time for candidate evaluation and verification. The plan also seeks to reduce the information gap between internal and external candidates. Standard evaluation criteria, presentation topics, evaluation items, and the timeline and procedures for selection will be provided to candidates in advance. In the CEO selection process for subsidiaries, the role of the bank's Executive Candidate Recommendation Committee will be expanded. The committee will be granted ongoing authority to recommend candidates, and its chair will be allowed to attend the final interviews of the 'Subsidiary CEO Candidate Recommendation Committee' to provide input on candidate selection. The qualifications for CEO candidates will also be somewhat relaxed to broaden the pool of internal and external candidates, and the preparation and evaluation periods for candidates at each stage will be extended. These reforms will be applied to the CEO selection processes of seven subsidiaries, including Kyongnam Bank and BNK Investment Securities, whose terms end this year. The candidate recommendation and selection processes for these companies are set to begin this month. The BNK Financial Group's Subsidiary CEO Candidate Recommendation Committee is currently seeking external candidates for Kyongnam Bank and BNK Investment Securities through a professional recruitment agency and plans to request candidate recommendations from the bank's Executive Candidate Recommendation Committee.* This article has been translated by AI. 2026-09-17 11:24:10
  • Seongnam Mayor Shin Sang-jin Advocates for Sustainable Transportation Integration with Advanced Technology
    Seongnam Mayor Shin Sang-jin Advocates for Sustainable Transportation Integration with Advanced Technology Seongnam Mayor Shin Sang-jin emphasized on September 16 that "advanced technology must be easily accessible to all citizens and organically connected to existing transportation systems to establish sustainable transportation."During an online webinar hosted by the UN Economic and Social Affairs, Mayor Shin presented Seongnam's sustainable transportation policies, highlighting the city's commitment to enhancing collaboration with the international community.The event, themed "Ensuring Sustainable Transportation Accessibility for All," attracted over 300 participants, including government officials, international organizations, and transportation sector stakeholders, who shared experiences, challenges, and cooperation strategies in promoting sustainable transportation policies.In his presentation, Mayor Shin introduced key transportation policies in Seongnam that integrate advanced technology to improve mobility convenience, safety, and quality of life. He specifically discussed the autonomous shuttle connecting the old and new city centers, as well as the use of AI, drones, and robots for road inspections, deliveries, and safety management.He also outlined efforts to create a sustainable transportation environment that considers both people and the environment, including expanding bicycle networks and developing eco-friendly spaces along the Tancheon River.Mayor Shin stated, "We will strengthen cooperation with the central government, international organizations, and private enterprises to reduce the gap in technology utilization and develop pilot projects into stable public services."Additionally, he introduced the 17th Asia High-Level Forum on Environmentally Sustainable Transportation, scheduled for March 16-19, 2027. Mayor Shin expressed his intention to make the forum a platform for governments, international organizations, cities, and businesses to share sustainable transportation policies and innovative practices.He emphasized the importance of ensuring mobility rights for all citizens, including vulnerable groups, addressing transportation disparities between regions, and seeking practical solutions to climate crises in Seongnam.Mayor Shin has previously showcased Seongnam's future transportation policies at UN-related international meetings, further expanding international cooperation in the field of sustainable transportation.He reiterated, "We will enhance collaboration with the central government, international organizations, and private enterprises to reduce the gap in technology utilization and develop pilot projects into stable public services."Looking ahead, Mayor Shin plans to integrate advanced technologies such as autonomous driving, AI, drones, and robots into citizen-centered transportation services and share Seongnam's transportation policies and innovative practices with cities worldwide during the 2027 international forum.* This article has been translated by AI. 2026-09-17 11:24:00
  • Daewoong Pharmaceuticals Pexuclu Achieves 92% Success Rate in Helicobacter Pylori Treatment
    Daewoong Pharmaceutical's Pexuclu Achieves 92% Success Rate in Helicobacter Pylori Treatment Daewoong Pharmaceutical announced that its reflux disease treatment, Pexuclu (ingredient name: Pexuprazan hydrochloride), achieved a 92.0% eradication rate in a study targeting Helicobacter pylori treatment among patients who completed the therapy, as reported on September 17.Helicobacter pylori is a bacterium that resides in the stomach lining and is a major cause of chronic gastritis, gastric and duodenal ulcers, and an increased risk of stomach cancer. When an infection is confirmed, eradication therapy is conducted using a combination of proton pump inhibitors (PPIs) and antibiotics.The study involved 93 patients with no prior experience of eradication therapy. It evaluated the efficacy and safety of a simultaneous therapy that administered Pexuclu along with three antibiotics—clarithromycin, amoxicillin, and metronidazole—over a 10-day period. The overall eradication rate among all registered patients was 90.3%, while the rate for the 88 patients who completed the treatment, excluding those who withdrew before treatment, failed follow-up, or had poor medication adherence, was 92.0%.Traditionally, Helicobacter pylori eradication therapy has relied on a standard triple therapy involving a PPI and two antibiotics, amoxicillin and clarithromycin, administered over 14 days. However, rising antibiotic resistance to clarithromycin and others has led to concerns about decreasing eradication rates, prompting calls for a change in treatment strategies. In this context, the study found that 80.0% of patients with clarithromycin-resistant mutations successfully eradicated the bacteria.In previous phase III clinical trials, Pexuclu-based therapy demonstrated non-inferiority in eradication efficacy compared to existing PPI-based therapies, with safety profiles similar to the control group. This latest study is seen as providing additional evidence for the efficacy of Pexuclu in Helicobacter pylori eradication therapy. No severe adverse reactions or liver function abnormalities were observed during the study period.The research was conducted by a team led by Professors Kim Nam-hoon and Kang Seok-in from the Gastroenterology Department at Inje University Ilsan Paik Hospital and was presented as a poster at the 32nd Japanese Helicobacter Society Conference (JSHR 2026) on July 4. The related paper was published online in the official journal of the Japanese Gastroenterological Association, Digestion, on August 26.Park Hyung-cheol, head of the ETC Marketing Division at Daewoong Pharmaceutical, stated, "This study further confirms the potential of Pexuclu-based combination therapy as a first-line treatment for Helicobacter pylori eradication. We will continue to secure evidence that can be utilized in clinical practice to expand the therapeutic applications of Pexuclu."* This article has been translated by AI. 2026-09-17 11:24:00
  • hys Yakult XO Surpasses 40 Million Sales Milestone
    hy's Yakult XO Surpasses 40 Million Sales Milestone hy announced that its Yakult XO, launched in May 2025, has surpassed 40 million units sold in just over a year. After reaching 25 million units in May, the product added another 15 million in just four months, demonstrating rapid growth.Yakult XO is the first zero-calorie fermented milk product introduced under the Yakult brand by hy. It eliminates sugar, carbohydrates, and fat, reducing calories to just 10 kcal per 100 ml. Despite this, it contains five patented strains and 5 billion CFU of probiotics, ensuring health benefits.The product's success is attributed to the 'healthy pleasure' trend, which seeks to balance health and taste, along with the technology behind it. As the food industry focuses on reformulating products to reduce sugar and fat, hy has implemented the 'LF-7' method, which consumes the natural sugars in milk through long fermentation. This allows the product to maintain its signature sweet and tangy flavor while keeping sugar and fat at zero.Collaborations with other brands have also expanded consumer reach. In April, a partnership with coffee franchise MegaMGC Coffee introduced the 'Low-Sugar Honey Pear XO Yakult,' which gained popularity on social media as a 'hangover drink.' Initially planned as a seasonal item, its sales period was extended due to positive consumer response.Choi Young-taek, head of hy's marketing team, stated, "Since 2014, we have been conducting a 'sugar reduction campaign' to maintain product taste and quality while lowering sugar content. Based on the success of Yakult XO, we will continue to expand our product lineup that balances taste and health."* This article has been translated by AI. 2026-09-17 11:24:00
  • Interior Ministry Defends Kim Ji-yong Amid Controversies Over Prosecutorial Role
    Interior Ministry Defends Kim Ji-yong Amid Controversies Over Prosecutorial Role The Ministry of the Interior and Safety defended Kim Ji-yong, the candidate for the inaugural chief of the Serious Crimes Investigation Agency, stating that he has consistently opposed indictments during his leadership of major cases. This response comes amid various allegations regarding his qualifications and past actions.Kim Min-jae, the ministry's vice minister and head of the agency's preparatory committee, held a briefing on September 17 at the Government Seoul Complex in Jongno, addressing concerns raised by the media and political circles about Kim's qualifications and conduct.First, Vice Minister Kim clarified the controversy surrounding Kim Ji-yong's involvement in the investigation of the emergency travel ban on former Justice Ministry official Kim Hak-eui, stating, "Of the four individuals indicted, three were already under investigation and charged before Kim Ji-yong took office as head of the Supreme Prosecutors' Office's Criminal Division." He added that Kim Ji-yong had expressed opposition to the indictment of the remaining individual during an internal meeting and was not the final decision-maker on the indictment.Regarding the decision to indict former prosecutor general Han Dong-hoon in a case involving prosecutor Jeong Jin-woong, Vice Minister Kim noted, "While Kim Ji-yong was in the line of command as the deputy chief prosecutor at the Seoul High Prosecutors' Office, the investigation was already underway before his appointment, and he clearly expressed his opposition to the indictment from an advisory position."He also actively refuted the framing of Kim Ji-yong as a 'pro-Yoon (Yoon Suk Yeol) prosecutor' or 'prosecutorial hardliner,' which has been suggested primarily by the ruling party.Vice Minister Kim explained that Kim Ji-yong's participation in a statement opposing the suspension and disciplinary action against former Prosecutor General Yoon Suk Yeol acknowledged the possibility of misconduct but urged reconsideration of the appropriateness of the disciplinary process. He further clarified that his opposition to the complete removal of prosecutorial investigative powers was not against the reform itself but was concerned about ensuring victim protection and preventing gaps in public safety.Notably, Vice Minister Kim revealed that after reviewing the records of a criminal complaint against Yoon Suk Yeol's relatives, which had previously resulted in a decision not to indict, Kim Ji-yong deemed the decision unjust and ordered a re-investigation. He interpreted that this principled handling of the case contributed to Kim Ji-yong's reassignment to the Gwangju High Prosecutors' Office as a deputy chief prosecutor, effectively a demotion, following the first personnel changes under the Yoon administration.The briefing was convened as calls for Kim Ji-yong's voluntary resignation have emerged within the ruling party, following President Yoon Suk Yeol's nomination of him on September 7. In light of the controversy surrounding Kim, President Yoon directed additional verification after returning from a trip to France, which delayed the submission of the personnel confirmation request to the National Assembly. This led the Ministry of the Interior and Safety to take the initiative in clarifying the facts and defending Kim Ji-yong.However, Vice Minister Kim stated, "We will not take the public's concerns lightly," and urged that Kim Ji-yong should directly address his qualifications, capabilities, past conduct, and key issues during the upcoming confirmation hearing, where the National Assembly will conduct a thorough review.Regarding the delay in submitting the personnel confirmation request to the National Assembly, he noted, "This is part of the president's authority in personnel matters," but added that they are preparing to respond to requests for information and inquiries.* This article has been translated by AI. 2026-09-17 11:20:00