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  • National Pension Funds New Scoring System Attracts Financial Firms to Jeonju
    National Pension Fund's New Scoring System Attracts Financial Firms to Jeonju Financial companies are increasingly establishing offices in Jeonju, where the National Pension Service (NPS) is located. The NPS has decided to award additional points in its evaluation of asset management firms based on their operational base in Jeonju, prompting financial firms to expedite their move to the city.According to the financial sector and the NPS on August 11, NH Nonghyup Financial plans to open its Jeonju office for NH-Amundi Asset Management on September 1. This follows the establishment of bases in Jeonju by KB, Shinhan, and Woori Financial, with NH Nonghyup also joining the trend. The company aims to build an 'NH Financial Hub' centered around the Jeonju office and expand collaboration with the NPS.IBK Asset Management, a subsidiary of IBK Industrial Bank, also opened its Jeonju office on the same day. IBK Asset Management is a comprehensive asset management firm wholly owned by IBK Industrial Bank.The influx of financial firms into Jeonju is largely due to changes in the NPS's evaluation criteria for asset management firms. In June, the NPS introduced a new criterion for selecting domestic equity and bond management firms, granting an additional point to those with operational bases in Jeonju. This change was implemented about six months after President Lee Jae-myung instructed the NPS to consider providing incentives to regionally based asset management firms during the asset allocation process.As of the end of May this year, the NPS manages a fund totaling 1,848 trillion won, with 959 trillion won entrusted to domestic and foreign asset management firms. Being selected as a management firm for the largest institutional investor in the country is directly linked to the firm's performance. Industry experts note that even a single additional point can significantly impact rankings, which can be determined by fractional score differences.Major asset management firms have already begun their moves to Jeonju. Shinhan Asset Management opened its Jeonju office in February, while KB Asset Management moved into the Jeonbuk KB Financial Town in July. Woori Asset Management has also established a base in Jeonju.International firms are not exempt from this trend. Blackstone and PIMCO already have offices in Jeonju, and BlackRock and Starwood Capital opened their Jeonju offices this year.A source in the financial sector stated, "For financial firms, securing a connection with the NPS in Jeonju is becoming a significant competitive advantage. It is highly likely that more financial companies will establish local bases to strengthen collaboration with the NPS in the future." 2026-08-11 14:36:00
  • Minister Kim Sung-hwan: Ensuring Timely Power Supply for Yongin and Honam Semiconductor Plants
    Minister Kim Sung-hwan: Ensuring Timely Power Supply for Yongin and Honam Semiconductor Plants Kim Sung-hwan, the Minister of Climate Energy and Environment, stated on August 11 that efforts will be made to ensure timely power supply for semiconductor plants in Yongin and Honam. During a meeting of the National Assembly's Climate Energy Environment Labor Committee, Minister Kim responded to a question from lawmaker Kim So-hee of the People Power Party regarding the status of the Yongin semiconductor cluster. He assured, "Whether in Yongin or Honam, we will take responsibility to ensure that power supply delays do not hinder semiconductor fab construction." He added, "Land development is still not progressing smoothly," explaining that SK Hynix is currently constructing its first fab in an industrial complex, while Samsung Electronics is in the land acquisition phase for a national industrial complex. The power supply for SK Hynix in Yongin is being implemented in three phases. Minister Kim noted, "The power supply issue for SK Hynix is being pursued in three phases, and agreements are mostly finalized. The first phase involves closing a coal power plant in Chungnam and relocating a liquefied natural gas (LNG) power plant to Yongin, while phases two and three will provide separate power supplies." He emphasized, "The delay in establishing the semiconductor cluster is due to the land development process rather than power supply issues," and added that he expects agreements regarding the power supply for phases two and three in Yongin to be finalized soon. The meeting also saw a debate over nuclear power policy. When lawmaker Kim Wi-sang asked if the minister acknowledged the failures of energy policies, including the cancellation of nuclear power plant construction during the Moon Jae-in administration, Minister Kim countered, "The first person to initiate the nuclear phase-out was not former President Moon Jae-in, but former President Park Geun-hye." He continued, "Following the Fukushima nuclear disaster in 2011, concerns about nuclear power grew in the Busan, Ulsan, and Gyeongnam regions, leading the Park Geun-hye administration to legally decide to decommission the Kori Unit 1, which had its lifespan extended. The policies of the Moon Jae-in administration also reflected the public's concerns about nuclear power at that time." However, he expressed the need to consider the complementary use of nuclear power in future energy composition. Minister Kim stated, "As the climate crisis intensifies and the world hastens to phase out coal, relying solely on renewable energy presents challenges. We must consider the global energy system that necessitates the complementary use of nuclear power."* This article has been translated by AI. 2026-08-11 14:32:20
  • Ukrainian President Zelenskys Urgent Appeal for South Koreas Air Defense Support
    Ukrainian President Zelensky's Urgent Appeal for South Korea's Air Defense Support Ukrainian President Volodymyr Zelensky's appeal to South Korea is becoming increasingly urgent. He warned that up to 50,000 North Korean troops could be deployed to Russian territory and expressed concerns that North Korea is supplying ballistic missiles to Russia, which are being advanced through real combat experience. He reiterated his call for South Korea to support its air defense systems, stating that this trend poses a growing security risk to regional countries, including South Korea and Japan. On August 8, President Zelensky acknowledged South Korea's legal constraints but expressed hope for increased air defense support.Zelensky's plea is not without merit. Moreover, it is poignant to see a leader of a war-torn nation, exhausted after more than four and a half years of conflict due to Russian aggression, reaching out repeatedly to allies. However, national security policies must be based on cold calculations rather than emotions. If South Korea were to provide advanced air defense weapons like the Patriot to Ukraine, the costs involved would be significant.Furthermore, during a meeting with ambassadors in Kyiv last week, President Zelensky expressed dissatisfaction with Japan's relationship, stating it has not met expectations. He had high hopes for political changes in Japan but noted that actual cooperation has fallen short, directing his team to devise ways to improve relations. Despite Japan's support of over $20 billion to Ukraine, Zelensky's comments reflect not only disappointment with Japan but also a broader diplomatic campaign for air defense and defense cooperation with Asian allies. His disappointment with Japan and his SOS to South Korea are part of the same trend.However, the foremost consideration must be South Korea's own air defense capabilities. Zelensky's remarks about North Korea's missile capabilities improving through cooperation with Russia underscore the need for South Korea to prioritize its air defense network. The ongoing impact of the prolonged Iran conflict has already led to shortages of air defense systems like the Patriot, even for the United States. Therefore, any related decisions must be made cautiously, especially when the reliability of our air defense forces is uncertain. In fact, Seth Jones, director of the Defense and Security Program at the Center for Strategic and International Studies (CSIS), pointed out on August 10 that U.S. military bases and infrastructure across the Pacific, from Japan and the Philippines to Guam and South Korea, are highly vulnerable to missile and drone attacks from China and North Korea.Additionally, the potential costs of deteriorating relations with Russia must be considered. Russia has consistently indicated that support for 'lethal weapons to Ukraine' is a red line, and providing air defense weapons could significantly worsen relations. Russia is also a country with which we may need to restore relations post-conflict. Moreover, Russia has already signed a comprehensive strategic partnership treaty with North Korea, promising military support in case of emergencies, so escalating tensions with Russia could lead to more overt military and technological support for North Korea. It is essential to carefully assess whether it is necessary to exacerbate conflicts with Russia, which could provide justification for strengthening military cooperation with North Korea.Of course, the deployment of North Korean troops to Russia and the transfer of technology pose a tangible threat to security on the Korean Peninsula, and cooperation with Ukraine is necessary. However, the response should not be direct military support to Ukraine but rather through enhanced information sharing, joint international responses to North Korea-Russia military cooperation, and strengthening surveillance and deterrence against North Korea. At the same time, communication with Russia should continue to express concerns about its close ties with North Korea.Ultimately, despite the tragic situation in Ukraine, we cannot compromise our own defense for the sake of another country. The security of the Korean Peninsula must be safeguarded by ourselves, and this calculation should prioritize our national interests above all appeals. Caution is not cowardice; it is the foundation of national strategy.* This article has been translated by AI. 2026-08-11 14:32:10
  • Hanil Cement Implements Automatic Heat Illness Warning System
    Hanil Cement Implements Automatic Heat Illness Warning System Hanil Cement announced on August 11 that it has launched an 'Automatic Heat Illness Warning System' at its Yeongwol plant to prevent heat-related illnesses among workers, starting operations on the 10th.This system significantly reduces the burden on safety personnel, who previously had to manually measure the perceived temperature. The central system calculates the perceived temperature in real-time using data collected from thermometers and hygrometers, and automatically broadcasts alerts when risk levels are reached, recommending breaks or work stoppages.By implementing this system, the company aims to prevent workers from being exposed to heat-related illnesses without realizing any physical abnormalities during their tasks.The warning system consists of one display and four speakers. The locations of the equipment were selected to maximize communication effectiveness, considering the main pathways and work areas of the employees.When the perceived temperature exceeds 33 degrees Celsius, the system prompts workers to take breaks with a heat advisory announcement. If the temperature rises above 35 degrees Celsius, it automatically broadcasts warnings to halt outdoor work.Additionally, safety broadcasts are conducted at 8:30 AM and 1:30 PM to enhance workers' safety awareness as work begins.The system is also expected to function as a warning mechanism during winter cold wave advisories, providing a year-round health management system for on-site workers.Meanwhile, Hanil Cement is taking measures to prevent heat-related illnesses by providing cooling fans and large fans in workspaces, as well as distributing cooling scarves and pads to workers.The company has also established rest areas equipped with air conditioning, ice machines, and glucose solutions to continuously improve working conditions during hot weather.A Hanil Cement official stated, 'The introduction of the automatic warning system has greatly enhanced the effectiveness and immediacy of safety management during hot weather. We will continue to pursue on-site safety management measures to create a workplace where employees can work with peace of mind.'* This article has been translated by AI. 2026-08-11 14:32:00
  • Shinhan Bank Completes First Foreign Exchange Transaction with UN Green Climate Fund
    Shinhan Bank Completes First Foreign Exchange Transaction with UN Green Climate Fund Shinhan Bank has entered into a foreign exchange derivative transaction with the Green Climate Fund (GCF). This marks the first time the GCF has engaged in foreign exchange derivatives since its official launch in 2013.On August 6, Shinhan Bank announced that it had completed a foreign exchange derivative transaction worth approximately $200 million with the GCF.Foreign exchange derivatives are used to mitigate the risk of losses due to fluctuations in exchange rates. The GCF receives contributions in various currencies from countries around the world to support climate change initiatives, which means the value of its funds can vary with exchange rate movements.To reduce the volatility of its contributions and manage its resources more stably, the GCF has introduced a foreign exchange hedge program and has executed its first transaction with Shinhan Bank.The GCF is an international organization established to support greenhouse gas reduction and climate change responses in developing countries. It invests in projects aimed at transitioning to green energy and addressing climate challenges using resources pooled from various countries.Previously, in September of last year, Shinhan Bank participated as a senior investor in the Africa Green Energy Fund 'H2R,' which was established by the global impact investment firm Acumen, amounting to approximately $246.5 million.A Shinhan Bank official stated, "Following our joint investment in the green energy sector last year, we have expanded our collaboration with the GCF through this foreign exchange derivative transaction. We will continue to broaden our cooperation with international organizations and global financial institutions."* This article has been translated by AI. 2026-08-11 14:32:00
  • Uruguayan coach tipped to take helm of South Korean football team
    Uruguayan coach tipped to take helm of South Korean football team SEOUL, August 11 (AJP) - Uruguayan coach Gus Poyet is the leading candidate to take the helm of the South Korean men's national team, Japanese media reported on Tuesday. The speculation came less than two days after the Korea Football Association closed applications for a new head coach for the national team on Sunday. Citing multiple sources, Japanese online news outlet Sponichi Annex, run by sports daily Sports Nippon, reported that it is "almost certain" Poyet, who served as head coach of Jeonbuk Hyundai Motors FC for a year in 2025, is the top contender to take over the post. The post remains vacant after former coach Hong Myung-bo resigned following the national team's poor performance at the quadrennial World Cup earlier this year. The Japanese news outlet went even further, predicting that Poyet would likely take charge of South Korea's international tuneup matches in September as well as the friendlies against Venezuela and Uzbekistan in October. Meanwhile, the KFA said it would form a committee this week of internal and outside experts to evaluate applicants, assess candidates' suitability, and conduct online interviews next week, before beginning negotiations. Applicants reportedly include multiple coaches from home and abroad. But the KFA says it is keeping the selection process confidential to ensure fairness amid mounting criticism toward the football agency over its past irregularities and lax management after the national team's early exit from the World Cup in June. Poyet, who was sacked by Saudi Arabian club Al-Khaleej in May after a brief stint of about a month, has been publicly courting the position, expressing his interest in taking charge of the South Korean national team. To ensure a fair selection process and avoid any suspicion of favoritism, stricter criteria have reportedly been applied to the post. Applicants are required to form their own coaching teams with at least five and up to seven staff members. Foreign applicants must also hold the highest-level coaching license issued by a FIFA-affiliated confederation and have at least five years of coaching experience. AJP Takeaways: - Gus Poyet is reportedly the leading candidate to become the next head coach of the South Korean men's national football team, according to Japanese media. - Poyet coached Jeonbuk Hyundai Motors FC in 2025 and has publicly expressed interest in taking charge of the South Korean national team. - The Korea Football Association closed applications on Sunday and plans to evaluate candidates through a committee of internal and outside experts before conducting online interviews and beginning negotiations. - The KFA is keeping the selection process confidential amid criticism over past irregularities and lax management, while stricter criteria have been introduced to ensure a fair selection. - Foreign applicants must meet tougher requirements, including holding the highest-level coaching license issued by a FIFA-affiliated confederation and having at least five years of coaching experience. 2026-08-11 14:31:14
  • SinoPex Shares Surge 13% Following Approval of Artificial Kidney
    SinoPex Shares Surge 13% Following Approval of Artificial Kidney SinoPex's shares rose by over 13% during trading after the company announced it received approval from the Ministry of Food and Drug Safety for its domestically developed artificial kidney.As of 2:20 PM on August 11, SinoPex's stock was trading at 4,660 won, up 555 won (13.52%) from the previous trading day, according to the Korea Exchange.The company confirmed it had obtained formal product approval (No. 26-478) for its artificial kidney (HD), marking a significant milestone as the first of its kind developed in South Korea.With this approval, SinoPex plans to accelerate the localization of hemodialysis medical devices. The company has already launched blood filters and water purifiers for artificial kidneys and is now preparing for mass production of the artificial kidney.“This product approval for the artificial kidney is a starting point for establishing medical sovereignty in the domestic hemodialysis device sector, which has relied on imports,” said Kang Chang-ho, head of SinoPex's artificial kidney sales division. “We will prepare for the mass production of the artificial kidney alongside the blood filters and water purifiers already on the market.”SinoPex is a KOSDAQ-listed advanced materials and components company specializing in flexible printed circuit boards (FPCB) and nano-membrane filters. The company is expanding its business while promoting the localization of hemodialysis medical devices.* This article has been translated by AI. 2026-08-11 14:28:00
  • Ulsan Ulju World Mountain Film Festival to Open September 18 with 114 Films from 35 Countries
    Ulsan Ulju World Mountain Film Festival to Open September 18 with 114 Films from 35 Countries The 11th Ulsan Ulju World Mountain Film Festival will take place from September 18 to 22 at the Yeongnam Alps Complex Welcome Center in Ulju County.This year, 114 films from 35 countries will be screened. The festival will feature 11 screening venues, including a drive-in theater, tent theater, deck theater, and a forest theater utilizing augmented reality (AR) glasses, all concentrated in the Yeongnam Alps area.On August 11, festival organizers held a press conference at Ulsan City Hall to unveil the main programs and films for this year’s event. Executive Chairman Um Hong-gil explained the festival's operational direction, while programmer Lee Jeong-jin introduced key films and programs. Actress Ham Eun-jung, this year’s ambassador, also attended.The festival continues with its slogan, 'Let’s Climb Together, the Mountain of Film.' It aims to expand beyond just screening mountain films, allowing attendees to enjoy films, performances, and experiential programs in nature.The screening venues will see significant changes. In addition to traditional indoor theaters, there will be a drive-in theater and tent theater at the foot of the Yeongnam Alps, as well as a deck theater. The forest theater will offer movie viewing with AR glasses.Evenings will feature a night flea market called 'Ump Treasure Chest,' along with singing bowl programs, stargazing, and unplugged busking. This initiative aims to enhance the stay time for families and younger audiences by combining film viewing with relaxation in nature.The opening film will be 'K2: Following the Shadows,' which depicts the ascent of K2 without supplemental oxygen. It showcases the challenges faced by climbers on one of the world’s most treacherous peaks.The closing film, 'Still Sailing,' follows an elderly man nearing ninety as he returns to the sea. Although set against the contrasting backdrops of mountains and the ocean, it resonates with the festival's theme of overcoming age and limitations.Real-life challenges faced by Korean climbers will also be featured. Captain Ahn Chi-young will share stories from his expedition to the Himalayas' 'Satt Peak' through a talk program. Captain Kim Young-mi will recount her experience of a solo, unsupported trek across Antarctica, accompanied by a screening of the film 'Letter from Antarctica.' There will also be programs highlighting the expedition experiences of student climbers.International films that are hard to find in Korea will also be showcased. Slovenian films 'Family Therapy,' along with restored versions of 'Kiket' and 'Goodbye, Kiket' celebrating 120 years of Slovenian cinema, will be presented to domestic audiences. A collaborative program with the Bilbao Mountain Film Festival will introduce mountain and cultural films from the Basque region.International exchange programs in the field of mountain culture will continue. Silvo Karo, recipient of the Golden Pickel Award for lifetime achievement, will give a special lecture, and Bernadette MacDonald, winner of the Ulsan Ulju World Mountain Literature Award, will engage with the audience on the topic 'The Courage of the First Sentence: A Mountain Writer Discusses the Beginning and Completion of Writing in the AI Era.'The press conference also included the appointment ceremony for actress Ham Eun-jung as the festival ambassador.Ham Eun-jung stated, "The keyword 'challenge' that the festival embodies resonates deeply with me as an actress who continually seeks new challenges. I look forward to meeting the audience as the host of the opening ceremony on September 18 and joyfully kicking off the festival together."* This article has been translated by AI. 2026-08-11 14:24:00
  • Gyeonggis Gwacheon Mayor Promotes Integrated Care for Seniors and Disabled
    Gyeonggi's Gwacheon Mayor Promotes Integrated Care for Seniors and Disabled Shin Gye-yong, the mayor of Gwacheon in Gyeonggi Province, emphasized on August 11 that he aims to firmly establish an integrated care system in the region to ensure that seniors and individuals with disabilities can enjoy a safe and comfortable life in their beloved homes. To achieve this, Mayor Shin has established basic welfare teams in all districts and assigned dedicated nursing staff for integrated care. On this day, he announced the completion of the establishment of basic customized welfare teams at all district administrative welfare centers, along with the placement of social welfare team leaders and dedicated nursing staff to create a community-centered care system that addresses both welfare and health needs. This restructuring focuses on providing the same level of welfare services across all districts, moving away from the previous area-based welfare system that centered on select districts. Each district administrative welfare center now has a customized welfare team, with the social welfare team leader responsible for identifying welfare gaps, providing consultations, and connecting residents with welfare resources. Notably, dedicated nursing staff have been assigned to focus on seniors aged 65 and older and individuals with severe disabilities. These nursing staff will visit households to assess health conditions and, if necessary, coordinate with health centers and local medical institutions to ensure seamless access to medical and welfare services. This initiative is part of a community-based welfare policy aimed at supporting residents in maintaining a healthy and stable life in familiar surroundings. Local residents have responded positively to the changes. One citizen remarked, "When welfare or health issues arise, it can be difficult to know where to seek help. If the district can provide direct consultations and connect us to necessary services, it would be much more reassuring." Another resident expressed, "As we age, support that looks after not just health but also daily life becomes crucial. I hope policies that help seniors continue living in their homes and communities expand further." Meanwhile, Mayor Shin Gye-yong stated, "Integrated care goes beyond simple welfare services; it is about providing a comprehensive administrative approach that takes responsibility for citizens' lives until the end." He added, "We will continue to strengthen Gwacheon's intricate care system so that seniors and individuals with disabilities can live healthily and safely in their familiar neighborhoods and homes."* This article has been translated by AI. 2026-08-11 14:24:00
  • Medipost Partners with Woongjin Free Life to Expand Cell Storage Services
    Medipost Partners with Woongjin Free Life to Expand Cell Storage Services Medipost is teaming up with Woongjin Free Life to expand its cell storage services.On August 11, Medipost announced that it will offer a new cell storage conversion service to existing customers of Woongjin Free Life.This collaboration aims to broaden customer options in the healthcare sector, moving beyond traditional funeral services as interest in health management grows. Customers of Woongjin Free Life will be able to utilize Medipost's cell storage services through the product conversion service.The conversion service includes two types of products: adipose stem cell storage and immune cell storage. After Woongjin Free Life provides information about the service and procedures, interested customers will be connected to Medipost, which will handle the contracts and storage processes.Collection of adipose tissue and peripheral blood will be performed by specialized medical personnel from partner medical institutions, while Medipost will be responsible for cell separation, testing, processing, and long-term storage.A Medipost representative stated, "We expect the synergy between Woongjin Free Life's customer service foundation and Medipost's cell technology and operational capabilities to be significant. We will continue to expand differentiated healthcare services to help customers prepare for a healthy future." Meanwhile, Medipost has completed Phase 3 clinical trials for its knee osteoarthritis stem cell treatment, Cartistem, in Japan and is currently working on the necessary procedures to apply for product approval by the end of this year.* This article has been translated by AI. 2026-08-11 14:24:00