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  • Baemin Enhances Pickup Service with Exclusive Menu; Chicken for $9.90
    Baemin Enhances Pickup Service with Exclusive Menu; Chicken for $9.90 Baedal Minjok is accelerating its pickup service enhancements.Woowa Brothers, which operates Baemin, announced on the 11th that it has launched a pickup-exclusive menu in collaboration with Jang's Food, the operator of 60Gye Chicken and Stella Tteokbokki.The new pickup-exclusive menu from 60Gye Chicken features a value fried chicken option. To celebrate the launch, Baemin is offering a discount of 5,000 won on the menu until the 16th. Additionally, customers can receive a 3,000 won discount coupon for early birds until the 13th, allowing them to purchase chicken for as low as 9,900 won.Stella Tteokbokki has introduced a cost-effective set for pickup, consisting of tteokbokki, fried items, and sundae. This menu will also be available at a discounted price of 3,000 won until the 16th.Woowa Brothers has been expanding its pickup service through collaborations with various brands. By partnering with major affiliates such as Ediya Coffee, Mega MGC Coffee, and Isaac Toast, Baemin saw a 60% increase in cafe pickup orders in July compared to the same month last year. Notably, a promotion earlier this year allowed customers to order a hot Americano from Mega MGC Coffee for just 100 won at around 2,000 locations.Since the 3rd, Baemin has been running a happy hour event with the cafe franchise The Venti, offering discounts on pickup orders during weekday mornings from 7 to 11 a.m. This initiative targets demand during commuting hours in office areas. The promotion has received positive feedback, with the number of available coupons being increased by 20% daily due to early sellouts.Kim Ji-hoon, head of the business division at Woowa Brothers, stated, "We hope this event allows customers to enjoy a wider variety of menus at reasonable prices through pickup. We will continue to enhance the convenience and benefits of our pickup service."* This article has been translated by AI. 2026-08-11 11:28:00
  • Icheon Mayor Seong Su-seok Reviews Semiconductor Solution Center Operations
    Icheon Mayor Seong Su-seok Reviews Semiconductor Solution Center Operations On August 10, Icheon Mayor Seong Su-seok visited the Korea Ceramic Technology Institute's Icheon branch to discuss collaboration strategies aimed at enhancing the local semiconductor industry.During the visit, Mayor Seong held a meeting with Yoon Jong-seok, president of the Korea Ceramic Technology Institute, and Han Yoon-soo, head of the Icheon branch, to review key projects and research outcomes. He also toured the cleanroom and testing and evaluation equipment at the Semiconductor Solution Center to assess the current state of research and development support.Mayor Seong shared the operational achievements and future plans for the Semiconductor Comprehensive Solution Center, which is managed by the city. Discussions included expanding technical support for semiconductor companies and developing specialized workforce training programs.The Semiconductor Comprehensive Solution Center serves as a key hub for supporting technology development and training specialized personnel for local semiconductor firms. It promotes semiconductor education, technical support, and industry-academia-research collaboration, playing a vital role in fostering the regional semiconductor industry ecosystem.Mayor Seong stated, "For Icheon to continue its growth, close cooperation among research institutions, businesses, and local governments is essential. We will expand the foundation for technical support and workforce training that companies need and will not spare efforts in fostering the semiconductor industry ecosystem."Meanwhile, the city is enhancing its support through initiatives such as a semiconductor autonomous research and education program in collaboration with Korea University and Sogang University, special lectures for public officials on semiconductors, semiconductor education for elementary, middle, and high school students, and technology development support for small and medium-sized enterprises in the area.* This article has been translated by AI. 2026-08-11 11:24:00
  • Special Prosecutors Summon Lee Jin-woo Over Martial Law Allegations
    Special Prosecutors Summon Lee Jin-woo Over Martial Law Allegations The second special investigation team, led by Special Prosecutor Kwon Chang-young, has summoned former Defense Command Chief Lee Jin-woo to investigate allegations related to the establishment of the Guardian Task Force (TF) within the Army's Capital Defense Command. The task force is suspected of being deployed to the National Assembly on the day of the martial law declaration. The special prosecutors aim to determine whether Lee created a separate military system that operated outside the control of the Joint Chiefs of Staff and utilized it for the martial law.Lee is being questioned as a suspect for abuse of power starting at 10 a.m. on August 11. This marks the first time he has been summoned regarding the Guardian TF allegations.Arriving at the special prosecutor's office in Gwacheon at 9:44 a.m., Lee responded to reporters' questions about whether he planned the Guardian TF for martial law purposes, stating, "Absolutely not," and added, "I will answer sincerely today." When asked if he ordered the mobilization of the Guardian TF on the day of the martial law, he shook his head and proceeded to the interrogation room.The special prosecutors are examining the purpose, organization, and training process of the Guardian TF, which was established in February 2024 under Lee's direction. The Guardian TF is known to be a counter-terrorism integrated operational system that combines various military police units, sniper teams, armored vehicles, explosive and chemical response teams, and drones, depending on the situation.A key focus for the special prosecutors is that this organization operated differently from the standard counter-terrorism command and support system. According to the established counter-terrorism response system, if a terrorist incident occurs in a non-military facility like the National Assembly, the police are in charge of the scene, and military support is requested through the Joint Chiefs of Staff when necessary. The military personnel deployed are also expected to operate under the command of the on-site police.However, the special prosecutors believe that Lee established a separate organization that allowed the Defense Command to directly command operations by combining the 35th Special Operations Battalion, designated as a counter-terrorism unit by the Joint Chiefs of Staff, with the 2nd Special Operations Battalion and military police.The special prosecutors view the fact that the establishment and operation of the Guardian TF were not formally reported to the Joint Chiefs of Staff, which also failed to grasp the specifics of the organization, as significant. Some reports have raised suspicions that the Guardian TF operated as a so-called "shadow organization" due to the lack of official documentation or internal reporting procedures.The special prosecutors suspect that the purpose of creating such an organization may not have been limited to counter-terrorism. Special Prosecutor Kim Ji-mi mentioned in a briefing on August 3 that it is becoming clear that the Guardian TF organized by Lee Jin-woo was part of an illegal preparation for the December 3 martial law, excluding the Joint Chiefs of Staff.In particular, the special prosecutors consider the process of the Guardian TF being mobilized toward the National Assembly on the day of the martial law declaration as a crucial clue to uncovering its purpose.Based on testimonies from the special prosecutors and related individuals, it is understood that Lee called former Commander Cho at 9:48 p.m. on December 3, 2024, instructing him to mobilize the Guardian TF, suggesting that "there seems to be a situation, so gather the Guardian TF and the commander should come to the headquarters."Lee reportedly carried blank rounds and ordered the removal of unit patches while instructing soldiers to collect their personal cell phones. It is also said that Cho was informed that the situation was a "Joint Chiefs of Staff surprise drill."Cho's side claims that due to this, they did not recognize the operation as an actual martial law operation at the beginning. They believed it was a follow-up training after receiving a poor evaluation during a previous Joint Chiefs of Staff combat readiness inspection.The situation changed after the declaration of martial law. According to related investigations and the first trial ruling in the case against former President Yoon Suk Yeol as the leader of the insurrection, Lee instructed Cho at 12:43 a.m. on December 4, 2024, to pull out members of the National Assembly.Cho advised Lee that he could not carry out the mission alone and suggested consulting with then-Army Special Warfare Command Commander Kwak Jong-geun. Subsequently, Lee altered his instructions to indicate that if the Special Forces pulled out the National Assembly members, the Defense Command troops should clear the way.The special prosecutors are also looking into how Lee's orders were communicated to the subordinate units. On the same day at 1:04 a.m., Cho communicated with Yoon Deok-kyu, then the commander of the 2nd Special Operations Battalion's 2nd regional unit (captain), who had arrived at the northern end of the Seogang Bridge. The special prosecutors have determined that during this communication, instructions were given to leave firearms and ammunition in the vehicle, carry riot sticks, coordinate with the units that entered the scene on how to approach the National Assembly, and the mission to pull out personnel inside the National Assembly.The ruling in the case against former President Yoon also noted that Cho instructed Captain Yoon to leave firearms and blank rounds in the vehicle and to prepare for the mission of pulling out personnel inside the National Assembly.However, there is a divergence in the interpretation of the nature of this communication between the special prosecutors and Cho's side. Cho's side argues that the statements made at that time were not specific orders to execute the entry into the National Assembly but rather explanations of the orders received from superiors and the situation on the ground. They also assert that Cho instructed Captain Yoon to return north at around 1:20 a.m. to prevent the troops from entering the National Assembly.In contrast, the special prosecutors are examining whether this withdrawal occurred after the National Assembly passed a resolution demanding the lifting of martial law and after the Special Forces began to withdraw from the National Assembly, making the mission effectively impossible.Initially, the special prosecutors suspected that Cho may have been involved from the planning stage of the Guardian TF. They are investigating whether the troops under Cho's command had prepared for the deployment during the martial law through various security drills and are reportedly considering additional charges of abuse of power.Cho has only been questioned as a witness in the investigation related to the Guardian TF. His side claims that the Guardian TF was an integrated operational system designed to prepare for simultaneous terrorist attacks that could occur in Seoul and that no evidence has been presented to show that he was aware of the martial law in advance.Previously, the insurrection special investigation team that investigated the martial law incident also concluded that Cho had responded passively to Lee's orders or refused some of them, ultimately deciding not to charge him. The comprehensive special investigation team appears to be focusing its investigative efforts on clarifying the purpose of Lee in creating the Guardian TF and the circumstances surrounding his orders on the day of the martial law, based on the command structure and communication details at that time.* This article has been translated by AI. 2026-08-11 11:20:00
  • KOSPI reverses early losses as KOSDAQ extends recent rally
    KOSPI reverses early losses as KOSDAQ extends recent rally SEOUL, August 11 (AJP) - South Korean stocks reversed early losses Tuesday morning, with the benchmark KOSPI edging higher and the junior KOSDAQ gaining more than 1 percent as buying in construction and semiconductor equipment shares offset pressure from higher oil prices and renewed tensions between the U.S. and Iran. The main index traded 0.3 percent higher at 6,321 as of around 10:30 a.m., after falling more than 1 percent earlier in the session. It moved between a low of 6,213.78 and a high of 6,327.32. Retail investors bought 222 billion won (US$157 million) worth of KOSPI-listed shares, as foreign investors added 6.7 billion won. Institutions sold 204.1 billion won. Chip giant Samsung Electronics reversed early losses to rise 0.4 percent to 231,000 won, but other major technology shares remained weak. Rival SK hynix fell 2.89 percent to 1,379,000 won, Samsung Electro-Mechanics dropped 5.49 percent to 1,204,000 won and SK Square declined 3.37 percent to 917,000 won. LG Electronics and LS Electric each fell 3.84 percent, as Hanwha Ocean lost 3.28 percent. Hanwha Solutions rose 2.4 percent. NHN surged 15.9 percent after reporting second-quarter operating profit of 57.9 billion won, up 164 percent from a year earlier, on a 25.3 percent increase in revenue. Construction and insurance shares were also strong. Kumho Engineering & Construction soared 29.98 percent, as Hyundai Marine & Fire Insurance jumped 8.4 percent and Samsung Fire & Marine Insurance gained 3.7 percent. The tech-heavy KOSDAQ climbed 1.3 percent, or 10.89 points, to 865.94 after falling as low as 840.45 earlier in the session. Its intraday high stood at 875.16. Retail investors bought 160.2 billion won worth of KOSDAQ shares and institutions purchased 35.9 billion won, while foreign investors sold 199.4 billion won. Semiconductor equipment stocks led the rebound. Jusung Engineering surged 14.23 percent, SFA Semicon jumped 12.09 percent and Synopex gained 12.06 percent. YES-T rose 16.36 percent. Construction and cement-related small caps also rallied, with Namhwa Construction up 26.32 percent and Seosan gaining more than 26 percent. LK Samyang soared 29.93 percent. On the downside, Bonne fell 8.06 percent, as Seongho Electronics and Woori Technology each lost 4.84 percent. Both indexes had opened lower as renewed U.S.-Iran tensions raised uncertainty over the reopening of the Strait of Hormuz. U.S. stocks ended slightly lower overnight. The Dow Jones Industrial Average fell 0.11 percent, the S&P 500 slipped 0.06 percent and the Nasdaq Composite lost 0.32 percent. Nvidia fell 2.86 percent, Micron dropped about 1.8 percent and the Philadelphia Semiconductor Index slid 2.94 percent. West Texas Intermediate crude jumped 5.1 percent overnight to $82.13 a barrel as the U.S.-Iran impasse clouded prospects for restoring normal traffic through the Strait of Hormuz. The U.S. 10-year Treasury yield also moved back above 4.7 percent. The Korean won strengthened 0.4 percent to around 1,413.4 won against the dollar. Japan's stock market was closed in observance of Mountain Day, a national public holiday celebrated annually on Aug. 11 since 2016 to give people an opportunity to connect with nature and appreciate the blessings of mountains. Meanwhile, China's Shanghai Composite fell 0.4 percent to 3,952.1, while Hong Kong's Hang Seng Index edged up 0.14 percent to 25,973.66. AJP Takeaways: - South Korean stocks reversed early losses on Aug. 11, with the KOSPI up 0.3 percent at 6,321 and the KOSDAQ rising 1.3 percent to 865.94 as of 10:30 a.m. - Retail investors led buying in both markets, purchasing 222 billion won ($157 million) of KOSPI shares and 160.2 billion won of KOSDAQ shares, while institutions sold KOSPI stocks and foreign investors sold KOSDAQ shares. - Large-cap chip stocks remained weak, with SK hynix down 2.89 percent and Samsung Electro-Mechanics down 5.49 percent, while semiconductor equipment and construction shares posted sharp gains. - U.S.-Iran tensions and uncertainty over the Strait of Hormuz kept pressure on markets after WTI crude jumped 5.1 percent to $82.13 a barrel and the U.S. 10-year Treasury yield moved back above 4.7 percent. - The Korean won strengthened 0.4 percent to around 1,413.4 per dollar, while Japan was closed for the Mountain Day holiday and Chinese shares traded lower. 2026-08-11 11:13:46
  • Gunpo Mayor Han Dae-hee Calls for Extension of Shinbundang Line
    Gunpo Mayor Han Dae-hee Calls for Extension of Shinbundang Line Gunpo Mayor Han Dae-hee emphasized on August 11 that the extension of the Shinbundang Line from Suwon to Uiwang, Gunpo, and Ansan is a key route that will connect the east-west axis of the southwest metropolitan area, enhance the urban value of the new cities in Uiwang, Gunpo, and Ansan, and provide significant transportation convenience for residents.On this day, Mayor Han held a signing ceremony for a joint request for the 'Shinbundang Line Extension from Suwon to Uiwang, Gunpo, and Ansan' at the Gyeonggi Provincial Assembly briefing room, alongside the mayors of Suwon, Uiwang, and Ansan.This signing ceremony, organized by Gunpo City, was aimed at jointly responding to the Ministry of Land, Infrastructure and Transport's ongoing development of the '5th National Railway Network Construction Plan' to include the Shinbundang Line extension.Mayor Han, along with Suwon Mayor Lee Jae-jun, Uiwang Mayor Kim Sung-je, and Ansan Deputy Mayor Heo Nam-seok, signed and read the joint request, strongly urging the inclusion of the route in the national plan.Thirteen provincial council members also attended the signing ceremony, including Choi Sang-kyu, Han Un-ok, Lee O-su, and Park Ok-bun from Suwon, Jang Tae-hwan from Uiwang, Kim Mi-sook, Seong Gi-hwang, Seong Bok-im, and Kim Gwi-geun from Gunpo, and Jang Yoon-jung, Park Eun-kyung, Yoo Jae-soo, and Lee Cheol-hyung from Ansan, all voicing their support for the extension.The joint request states that if the Shinbundang Line extension is pursued, it will connect the four cities in the southwest metropolitan area and significantly improve accessibility to Gangnam in Seoul when linked with the GTX-C line.Additionally, it highlights the potential for creating youth jobs, fostering R&D, developing future logistics and mobility industries, and revitalizing advanced industries, emphasizing the need for national plan inclusion to enhance citizen transportation convenience and regional development.The Shinbundang Line extension from Suwon to Uiwang, Gunpo, and Ansan is a 14.54 km metropolitan railway line that will connect the existing Shinbundang Line at Gwanggyo Station to the northern Suwon Jang-an district, Imok district, Uiwang Station, and the new cities in Uiwang, Gunpo, and Ansan, extending to Banwol Station.This route was identified through a preliminary feasibility study conducted by Gunpo City in 2022, following earlier requests by Gunpo and Ansan to the Ministry of Land for inclusion in the 5th National Railway Network Construction Plan. Now, the four cities are jointly advocating for its advancement.The route is expected to play a crucial role in connecting the southwest metropolitan area east-west, complementing the existing railway network. If the project moves forward, it is anticipated to enhance the grid-like structure of the southwest railway network.Notably, it is seen as a vital transportation infrastructure that will contribute to the government's 'Transportation Innovation Infrastructure Expansion Strategy' and the Gyeonggi governor's key pledge of realizing a '30-minute commuting era' in the metropolitan area.There is growing anticipation in the community for the inclusion of the Shinbundang Line extension in the national plan.Residents believe that the extension will significantly improve transportation accessibility in Gunpo and the surrounding southwest metropolitan area, strengthening connectivity between the new cities of Uiwang, Gunpo, and Ansan and existing urban centers.Above all, there is optimism that improved access to Gangnam in Seoul and the expansion of the metropolitan transportation network will alleviate commuting inconveniences and enhance living conditions and urban competitiveness.In the community, there is a sentiment that 'transportation networks determine the future value of cities,' underscoring the necessity for national-level planning. With the four local governments collaborating, there is hope that the project will progress to a practical implementation stage.Meanwhile, Mayor Han Dae-hee stated, 'Given the active willingness of private operators to push forward, this project can address local transportation issues while reducing the financial burden on the national government. We will do our utmost to ensure it is included in the national plan.' 2026-08-11 11:08:10
  • KOSDAQ Sees Significant Surge, But Is It a Sustainable Trend?
    KOSDAQ Sees Significant Surge, But Is It a Sustainable Trend? The KOSDAQ market is showing signs of revival. After dropping to 644.78 on July 30, the KOSDAQ index closed at 854.47 on August 10, marking a remarkable 32.5% increase over seven trading days. During this period, the market experienced several buy-side circuit breakers, and all 30 of the top market capitalization stocks saw gains, a rare occurrence. In contrast, the KOSPI's increase was limited to around 12%, highlighting the strength of the KOSDAQ's rebound. This is certainly welcome news for a market that has been overshadowed by large-cap semiconductor stocks.The surge can be attributed to three main factors. First, the tightening of regulations on single-stock leveraged products has played a significant role. Financial authorities raised the minimum deposit for leveraged products tracking Samsung Electronics and SK Hynix from 10 million won to 30 million won, resulting in a tenfold decrease in related trading volumes. This aggressive investment capital is believed to have shifted to the KOSDAQ.Second, there has been a notable influx of institutional funds. Over the past seven trading days, institutions purchased more than 1.5 trillion won worth of KOSDAQ stocks, with a particular focus on semiconductor materials, components, equipment, and the biotech sector.Third, the government's policies aimed at revitalizing the KOSDAQ have contributed to this upswing. Measures such as raising the market capitalization criteria for maintaining listings and introducing delisting regulations for penny stocks are set to be followed by a system to distinguish between high-quality and struggling companies in the second half of the year. Coupled with the price attractiveness created by previous declines, these factors have laid the groundwork for the KOSDAQ's rebound.However, it remains unclear whether this upward trend marks the beginning of a structural recovery or if it is merely a temporary spike due to supply and demand imbalances. Opinions in the securities industry are divided. Some analysts are optimistic, suggesting that the poor earnings have hit a bottom and a trend recovery is imminent, while others caution that the movement of high-risk, high-reward individual funds may only be temporary.Indeed, the KOSDAQ previously surged past the 1,220 mark in April before plummeting nearly 50% until recently. Given the market's inherent volatility, it is premature to conclude that the KOSDAQ has fundamentally changed based solely on this recent surge.It is particularly important to note that the momentum behind this rebound heavily relies on policy expectations and short-term supply shifts. The funds released from leveraged regulations flowing into the KOSDAQ are more of a reflexive effect, and concerns remain that if the volatility of large-cap semiconductor stocks increases again, the funds could quickly return to those stocks.Ultimately, for the KOSDAQ to surpass the 1,000-point mark and establish a long-term upward trajectory, the rebound driven by supply and demand must be supported by solid earnings. The warmth of increased AI investments must translate into the semiconductor materials and components sector, while expectations for new drug technology exports should yield tangible results in the biotech industry to build market confidence.The role of policymakers is also crucial. The fundamental reason the KOSDAQ has failed to escape its undervaluation compared to the KOSPI lies in weak corporate fundamentals. Strengthening delisting criteria to filter out struggling companies and implementing a system to distinguish between strong and weak firms is a step in the right direction, but the effectiveness of these measures must be consistently monitored during implementation to avoid becoming ineffective. Only when strong companies secure their positions among the top market capitalizations and struggling firms are naturally phased out can the KOSDAQ finally shed its long-standing label of a 'bubble market.'While there is no need to overreact to short-term fluctuations, the current renewed interest from investors presents an opportunity for KOSDAQ companies to respond with solid earnings, and for the government to accelerate its policies for structural improvement. Ultimately, completing this temporary rebound into a sustained recovery is the responsibility of all market participants. 2026-08-11 11:08:10
  • Trip.com Group Releases Sustainability Report, Accelerates ESG Management
    Trip.com Group Releases Sustainability Report, Accelerates ESG Management Trip.com Group, which operates the travel platform Trip.com, has released a sustainability report that encompasses achievements in climate action, community collaboration, and tourism industry innovation, further advancing its environmental, social, and governance (ESG) management efforts.In this report, Trip.com Group reaffirms the values of its sustainability management framework, the 'Friendly Four' (stakeholders, community, family, and environmental friendliness). The company aims to build a long-term cooperative ecosystem that embraces travelers, partners, employees, and communities worldwide, beyond just creating commercial value.Among the most notable achievements is the commitment to environmental sustainability and stakeholder collaboration. Trip.com Group has become the first online travel company in the Asia-Pacific region to have its short-term and net-zero greenhouse gas reduction targets verified by the Science Based Targets initiative (SBTi). As a result of significantly expanding low-carbon travel options across its platform, 2.74 million users participated in low-carbon business trips last year, leading to a total of 23.44 million low-carbon travel bookings.The company is also investing heavily in the development of the tourism ecosystem. With a $150 million 'Tourism Innovation Fund,' it is creating an open and collaborative ecosystem that generates value. This initiative has enabled 150,000 partners in China to attract inbound tourists through the platform, providing services to 20 million inbound travelers from 83 countries and regions last year, contributing approximately $24 billion in travel-related spending.In the family-friendly sector, the company has elevated its employee welfare programs to a global standard. A new policy, effective August 1, guarantees 20 days of paid paternity leave for male employees in select regions of Asia, with plans to expand this globally in the second half of the year. Additionally, three days of extra parental leave have been introduced for employees with children under 18.The 'Childcare Subsidy' program, a key family-friendly initiative, has supported a total of 2,038 families to date. The diversity metrics within the organization are also positive, with women holding 52.3% of managerial positions in revenue-generating departments, and the return rate for female employees who took maternity leave during the reporting period stands at 100%.Trip.com Group is also focused on expanding community inclusivity by leveraging its platform's reach. The 'Country Retreat' program, aimed at revitalizing rural areas, has created 51,000 jobs over the past five years. The 'Global Travel SOS Platform,' which connects over one million medical institutions and users worldwide, has achieved a 98% success rate in rescue operations year-round. Furthermore, the 'Travel for All' project, which enhances accessibility for all users of the app, has won the prestigious 'iF Design Award.'Jane Sun, CEO of Trip.com Group, stated, "Travel has the power to connect people, cultures, and communities, and future travel must yield positive outcomes for the planet and society as a whole. Through our sustainability strategy, we will continue to invest in our employees, accelerate climate action, and work with global partners to build a resilient tourism ecosystem."* This article has been translated by AI. 2026-08-11 11:08:00
  • Election for Head of South Koreas Largest Buddhist Order Begins with Three Candidates
    Election for Head of South Korea's Largest Buddhist Order Begins with Three Candidates The election for the 38th head of the Jogye Order, South Korea's largest Buddhist sect, has officially begun. The current head, Jinwoo, has announced his bid for re-election, joining fellow candidates Jeongnyeom and Gyeongu in a three-way race.On August 11, at the Korean Buddhist History and Culture Memorial Hall in Jongno, Seoul, Jinwoo declared, "I will open a new chapter for Korean Buddhism." He was elected unopposed in the previous election for the 37th head in 2022.Jinwoo emphasized the need for a period of leap toward a future vision based on stability and change. His key pledges include discussions on reforming the monk election system, decentralization of dioceses, expanding welfare for monks, enhancing the rights of female monks, innovating outreach through AI and new media, and promoting K-style meditation.The current election landscape features a three-way contest among Jinwoo, Jeongnyeom, and Gyeongu. A significant variable is the potential unification of Jeongnyeom and Gyeongu's candidacies. Both monks have attended each other's announcement events, leaving the door open for collaboration. If unification occurs, the race could shift to a two-way contest between Jinwoo and the unified candidate.Both Jeongnyeom and Gyeongu have prominently advocated for 'change' and 'reform' within the sect. Jeongnyeom, who served as the head monk of Woljeongsa for 22 years, announced his candidacy on August 6, stating, "New leadership is needed in the face of the changing times." He proposed five key policies focused on restoring trust through practice, decision-making based on fairness, decentralization of dioceses, welfare for monks from ordination to passing, and leading healing in the AI era.Notably, he has pledged to limit his term, stating he would not seek re-election if elected. He aims to distribute powers currently concentrated in the head office, such as the appointment of temple heads, to the dioceses, and to enhance transparency and accountability in sect operations through financial disclosures and independent audits.Gyeongu, a former head monk of Seonunsa, has made 'decentralized diocesan autonomy' a central promise. He plans to create diocesan laws to transfer powers, such as the appointment of temple heads, from the head office to the dioceses. He also pledged to expand the participation of female monks in the sect, establish an AI policy committee, create a unified computer network for the sect, and develop a Buddhist GPT.All three candidates share common ground in their pledges regarding decentralization of dioceses, welfare for monks, and innovative outreach in the AI era. However, Jinwoo emphasizes stability based on the current administration's achievements, while Jeongnyeom focuses on reforming the sect's operational structure, and Gyeongu highlights diocesan autonomy and increased participation of female monks.The election will take place on September 3 from 1 to 3 p.m. at the Korean Buddhist History and Culture Memorial Hall in Seoul. Candidate registration is open from August 11 to 5 p.m. on August 13. A total of 321 voters, including 81 members of the central legislative body and 240 elected from 24 diocesan headquarters, will cast their votes to elect the head. 2026-08-11 11:08:00
  • U.S. Imposes 15% Tariff on Polysilicon Derivatives; Government Assesses Impact
    U.S. Imposes 15% Tariff on Polysilicon Derivatives; Government Assesses Impact The U.S. government has introduced a minimum import price system for polysilicon and its derivatives, imposing a 15% tariff on products such as ingots, wafers, and solar cells. In response, the South Korean government is assessing the impact on domestic companies and preparing countermeasures.On August 11, the Ministry of Trade, Industry and Energy held a meeting at the Korea Chamber of Commerce and Industry, chaired by Deputy Minister Park Jeong-seong, to discuss responses to the U.S. government's Section 232 measures on polysilicon.Participants included representatives from the Ministry of Climate, Energy and Environment, as well as major companies such as Samsung Electronics, Hanwha Q CELLS, OCI, SK Siltron, and the Korea Semiconductor Industry Association.On August 6, the U.S. government announced the introduction of a minimum import price system for polysilicon and its derivatives under the Trade Expansion Act Section 232, along with a 15% tariff on polysilicon derivatives, including ingots, wafers, and cells.The minimum import prices set by the U.S. are $21 per kilogram for polysilicon, $100 per kilogram for ingots and wafers, $0.22 per watt for solar cells, and $0.38 per watt for solar modules.During the meeting, officials assessed the impact of the U.S. measures on South Korean exports and the supply chains of domestic companies operating or investing in the U.S.The government and industry discussed strategies to minimize the impact on domestic companies.Based on the outcomes of the meeting, the Ministry plans to maintain close communication with the industry and actively respond to minimize the effects on domestic companies and exports, including negotiations with U.S. officials.Deputy Minister Park stated, "We will closely monitor the short- and long-term impacts of the Section 232 measures on our industry and do our utmost to provide necessary support from the government in a timely manner."* This article has been translated by AI. 2026-08-11 11:04:20
  • South Koreas Coffee Industry Grows to 3.7 Trillion Won, Driven by Bean Coffee
    South Korea's Coffee Industry Grows to 3.7 Trillion Won, Driven by Bean Coffee South Korea's coffee industry has shown significant growth, expanding to a market size of 3.7 trillion won. The rapid transformation of the market is attributed to consumers' evolving preferences and a focus on value.According to an analysis of coffee industry and consumption trends released on August 11 by the Ministry of Agriculture, Food and Rural Affairs and the Korea Rural Economic Institute, the total market size of the domestic coffee industry is projected to reach 3.7359 trillion won in 2024, marking a 35.6% increase compared to 2018. The average annual growth rate over the past six years has been 5.2%.The landscape of related industries is also changing. As of 2023, the number of coffee processing businesses has decreased by 8.0% from the previous year, totaling 1,660, marking the first decline. In contrast, the number of coffee shops, which directly engage with consumers, has increased by 5.7% to 106,452.The share of coffee shops within the overall food service industry has also risen, increasing from 9.3% in 2018 to 13.4% in 2023, indicating that one in seven food service establishments is now a coffee shop.The growth of roasted coffee has outpaced that of instant coffee. The market for roasted coffee is expected to reach 1.3225 trillion won in 2024, with an average annual growth rate of 15.8%, while instant coffee has seen a slight decline of 0.5% annually. However, the roasted coffee market is experiencing a polarization trend, with both low-cost coffee shops and bulk product markets growing simultaneously.Alongside industry growth, exports are also on the rise. Coffee product exports are projected to reach $229.6 million in 2024, a 4.6% increase from the previous year. Instant coffee constitutes the majority of exports, but there has also been a rise in the export of roasted beans combined with roasting technology. By country, Israel (18.1%) is identified as the largest export market, followed by China (15.4%) and Australia (7.1%).Jung Kyung-seok, Director of Food Industry Policy at the Ministry of Agriculture, Food and Rural Affairs, stated, "The domestic coffee industry has developed a dynamic ecosystem characterized by the simultaneous growth of premium and value-oriented markets based on segmented consumer preferences. We will implement various policies to support the integration of food tech and elevate coffee as a key export item in K-Food+."* This article has been translated by AI. 2026-08-11 11:04:10