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Cosmecca Korea Shares Surge Over 13% Following Strong Q2 Earnings Report Cosmecca Korea's shares surged more than 13% in early trading after the company reported second-quarter results that exceeded market expectations.As of 9:19 a.m. on the Korea Exchange, Cosmecca Korea's stock was trading at 107,900 won, up 12,900 won (13.58%) from the previous trading day. The stock opened at 103,000 won and reached a high of 109,600 won during the session.The rise in stock price is attributed to the strong earnings report released after the market closed the previous day. Cosmecca Korea announced that its consolidated operating profit for the second quarter was 32.1 billion won, a 39.3% increase compared to the same period last year.In response to the strong performance, analysts have been raising their target prices for the stock. Hyundai Motor Securities noted in a report that "Cosmecca Korea's domestic corporate client orders remain robust, and the client base is continuously diversifying," raising its target price to 130,000 won.Similarly, Samsung Securities stated, "As an original design manufacturer (ODM) with access to various brands, the company is expected to see solid growth in the second half of the year, supported by diversification in domestic beauty distribution channels, inbound growth, and expansion into overseas markets from the U.S. to Europe," increasing its target price from 110,000 won to 130,000 won.* This article has been translated by AI. 2026-08-11 09:48:10
China Deploys 'Drone Killer' Laser Weapon on Landing Ship China's high-powered laser weapon, LY-1 (Liaoyuan), has been confirmed to be operationally deployed. According to a video released by state broadcaster CCTV on August 11, the weapon was spotted during a joint exercise by the People's Liberation Army Navy and Air Force near Huangyan Island (Scarborough Shoal) on August 1. Military experts identified a large rectangular device behind the 76mm gun on the Type 071 amphibious transport dock, the Qilian Shan.The LY-1 was first unveiled during the Victory Day parade in September 2025, and its recent appearance on a naval vessel confirms its deployment in real-world operations.The LY-1 focuses laser energy on a target to heat it, damaging sensors, electronic equipment, and structural components. It is particularly effective against small drones and suicide drones. A key advantage of the LY-1 is that it does not fire ammunition; as long as power and cooling capabilities are maintained, it can repeatedly engage targets. This reduces the waste of intercepting inexpensive drones with costly surface-to-air missiles.China has not disclosed the exact performance specifications of the LY-1. However, military industry sources and external analyses estimate its laser output to be around 180 to 250 kW, with an effective range of approximately 20 kilometers. It is vulnerable to atmospheric conditions such as fog, rain, and humidity.The Qilian Shan, equipped with the LY-1, is a Type 071 amphibious transport dock capable of deploying large numbers of troops, landing equipment, and helicopters. In amphibious operations, the risk of exposure to enemy drones and loitering munitions is high, making the practical value of laser weapons significant. If improvements are made in output, range, and adverse weather response, the LY-1 is expected to play a crucial role in the Chinese Navy's drone defense systems. With Taiwan enhancing its drone capabilities, there is speculation that the LY-1 could be widely deployed in response.* This article has been translated by AI. 2026-08-11 09:48:00
Everland and Caribbean Bay Target Late Summer Vacationers with 'Two Park' Offer As the Liberation Day holiday approaches, demand for late summer vacations is rising, with Everland and Caribbean Bay, operated by Samsung C&T Resort Division, attracting visitors with diverse offerings.According to Samsung C&T Resort Division, over 40% of Caribbean Bay visitors this summer have utilized the 'Two Park Event,' which allows free access to Everland on the same day as their Caribbean Bay visit. This event runs until the 30th.From August 15 to 17, a 'Water Music Pool Party' in collaboration with Samsung Card will take place at Caribbean Bay's wave pool stage. Popular K-pop artists, including Eight Turn on the 15th, IVE on the 16th, and Fromis 9 on the 17th, will perform, culminating in a grand finale. The event will also feature performances by popular DJs and a 'Hello Summer Party' in collaboration with Sanrio characters, offering entertainment for all ages.For those heading to Everland in the afternoon, there are plenty of activities to enjoy. Attractions include the 'Water Pang Pang Adventure' water play zone, the 'Bam Bam Man Kids Water Party,' and the large-scale water show 'Shooting Water Fun Season 2.' From now until the 16th, a special water DJ party, 'Bam Bam Summer Night,' will be held every night at Carnival Square. Additionally, Everland will extend its nighttime hours until 11 PM from the 14th to the 16th in celebration of the Liberation Day holiday.Unique ecological exploration programs are also available during summer nights. The 'Midsummer Night Firefly Festival,' which allows visitors to observe clean environment indicator insects, is open for free this year, attracting many attendees. The 'Summer Night Safari,' which offers a close-up view of nocturnal activities of wild animals, has also started earlier than usual to meet the increased demand for evening outings. Furthermore, a special event offering discounts on all-day passes for customers wearing Hawaiian shirts is ongoing until the 31st.In the Everland Zoo's Ppupatawn, a male baby lion named 'Raon,' born on June 5, has been open to the public since August 5, generating buzz. Raon, born in Safari World, has been raised by zookeepers through artificial rearing, and he has grown healthily, surpassing 5.5 kg in weight at about two months old. This marks the first time a baby lion has been born at Everland in eight years.The name 'Raon' was given by Yang Chang-seob, a pitcher for the Samsung Lions, during a visit to Everland during the All-Star break. Yang expressed his hope that Raon would grow strong and one day become the true king of the safari at Everland, sharing a name with the youngest character from the Samsung Lions mascot 'Bleo Family.'* This article has been translated by AI. 2026-08-11 09:44:00
Dongyang Life Completes Transition to Fully Owned Subsidiary of Woori Financial Dongyang Life has completed its comprehensive stock exchange process with Woori Financial Group, officially becoming a wholly owned subsidiary of the group. On August 11, Dongyang Life announced that it had finalized the stock exchange with Woori Financial Group. This followed the signing of a stock exchange agreement in April, which was completed after receiving approval from relevant authorities and a vote at a shareholders' meeting. As a result, Dongyang Life will relinquish its status as a publicly traded company after approximately 17 years since its listing on the securities market in 2009. The company is set to undergo delisting at the end of this month, transitioning to a non-listed wholly owned subsidiary of Woori Financial. Through this restructuring, Dongyang Life expects to simplify its decision-making process and accelerate the implementation of its management strategies. The company also anticipates cost savings from eliminating duplicate listings and establishing a sustainable management system. Dongyang Life plans to enhance synergies with Woori Financial's affiliates. By collaborating with banks, card services, and securities firms, the company aims to expand its customer base and improve the competitiveness of its products and services, while also exploring future business opportunities utilizing the group's human and material resources. Sung Dae-kyu, CEO of Dongyang Life, stated, “We will secure new growth engines by combining Woori Financial Group's comprehensive financial competitiveness with Dongyang Life's insurance expertise. We aim to establish ourselves as a core affiliate of Woori Financial Group that provides greater value to our customers.”* This article has been translated by AI. 2026-08-11 09:44:00
Rent for Studio Apartments Near Seoul Universities Rises by 44,000 Won in a Year Rent and management fees for studio apartments near major universities in Seoul have both increased over the past year, adding to the financial burden for students. On August 11, Dabang released an analysis of average rent and management fees for studio apartments registered in July near ten major universities in Seoul, ahead of the start of the second semester. Based on a survey of studio apartments with a deposit of 10 million won and a floor area of less than 33 square meters, the average rent rose to 625,000 won, an increase of 44,000 won (7.7%) from 581,000 won in the same month last year. Average management fees also increased from 75,000 won to 84,000 won, a rise of 9,000 won (10.9%). The increase in single-person households in Seoul is believed to have driven up demand for studio apartments near universities. According to the national census data, the number of single-person households in Seoul rose from 1,390,701 in 2020 to 1,699,910 in 2025, a 22.2% increase over five years. During the same period, single-person households aged 20 to 34, which include students and young professionals, also grew by 21.3%. By university, the area near Seoul National University saw the largest rent increase, with average rent rising from 423,000 won last year to 533,000 won this year, a 26.0% increase. The area near Hankuk University of Foreign Studies saw an increase from 582,000 won to 670,000 won, a rise of 15.1%, while the area near Yonsei University increased from 614,000 won to 678,000 won, a 10.4% rise. Areas near Chung-Ang University and Hanyang University also saw increases of 9.4% and 9.2%, respectively. In contrast, the average rent near Sungkyunkwan University decreased from 576,000 won to 550,000 won, a decline of 4.5%. This was the only area among the ten major universities in Seoul where rent fell compared to the previous year. The largest increase in management fees was observed near Chung-Ang University, which jumped from 76,000 won last year to 102,000 won this year, a 34.2% increase. The area near Seoul National University saw management fees rise from 78,000 won to 91,000 won, a 16.7% increase, while the area near Hanyang University increased from 70,000 won to 81,000 won, a rise of 15.7%. Areas near Yonsei University and Hankuk University of Foreign Studies also saw increases of 14.3% and 10.4%, respectively. Only the area near Sogang University experienced a decrease, with management fees falling from 64,000 won to 62,000 won, a drop of 3.1%. The most expensive area for rent and management fees was near Ewha Womans University, where the average rent in July was 767,000 won, and average management fees were 103,000 won, both over 20% higher than the average near major universities in Seoul. Compared to January, just before the start of the first semester, housing costs have seen a slight increase. In January, the average rent for studio apartments near major universities in Seoul was 622,000 won, and average management fees were 82,000 won. By July, rent had increased by 3,000 won (0.5%) and management fees by 2,000 won (2.4%). A Dabang representative stated, "The overall increase in rent and management fees for studio apartments near universities is linked to the growing demand for small housing due to the rise in single-person households. It is important for prospective renters to start looking for listings early, especially before the peak demand period at the start of the semester, and to thoroughly check the details of listings and landlords before signing contracts." Meanwhile, according to Dabang's 'Dabang Map' released on July 28, the average rent for studio apartments under 33 square meters in Gangnam District was 1,020,000 won, up 5.1% from 970,000 won the previous month. 2026-08-11 09:44:00
Webtoon Entertainment takes majority stake in RI Games SEOUL, August 11 (AJP) - Webtoon Entertainment is buying its way into the business of turning its own comics into games and films, ending years in which the company handed its biggest hits to outside studios and collected a fee while somebody else kept the franchise. The Nasdaq-listed operator of Naver Webtoon disclosed two deals on Monday alongside second quarter results. It agreed to buy a 60 percent stake in RI Games Holdings for about $100 million in cash, paid across two closings, and signed a limited partnership agreement with Naver Corporation in July to establish a $100 million fund that will invest in adaptations of its titles. The company has not said how much of the fund it is putting up itself. Both moves target the same weakness. Webtoon publishes the comics that have fed South Korea's streaming boom, including Sweet Home, All of Us Are Dead, Hellbound and Bloodhounds, and it has almost always sold the screen rights rather than produced the adaptation itself. That distinction decides who gets rich. Under a licensing deal, a streamer pays an agreed amount for the right to make the series, and the payment is set before anyone knows whether it will work. If the show becomes a global hit and runs three seasons, the fee does not grow. Company president Kim Yong-soo said the pattern is now a problem the company intends to fix. "Historically, our adaptation business has been based on a licensing model, which means that the success of those adaptations has not always translated directly into meaningful economics for ," he said on the earnings call. RI Games Holdings was founded by Kevin Han, who built Redice Studio, the production house behind the Solo Leveling comic, serialized in South Korea on the rival KakaoPage platform. It operates two game studios, GrayGames and Offbeat, and the companies plan to release multiple games over the next four years drawn from webcomic titles including Doom Breaker and Omniscient Reader, both of which run on Naver Webtoon, and Overgeared, another KakaoPage title. Webtoon intends to time game launches to coincide with animated versions of the same stories. Chief financial officer David Lee said the arrangement lets Webtoon skip the part most publishers get wrong. "We are not seeking to build ground-up capability in gaming," he said. "We have 120,000 stories arriving every day from 27 million creators, and we know from data what can be a hit, not just on our platform, but off it." Lee said certain terms of the agreement were redacted in the company's filing, and that the structure includes put options on both sides, obliging each party to buy the other out under conditions Webtoon has not disclosed. The strategy shift landed on a quarter that looked worse in dollars than it was in practice. Revenue came in at $338.5 million, about 508 billion won at the quarter's average rate of 1,500.7 won to the dollar, down 2.8 percent from a year earlier. Almost all of that decline is a currency effect. Webtoon earns most of its money in won and yen but reports in dollars, and both weakened over the quarter, so identical sales in Seoul and Tokyo converted into fewer dollars. Strip the exchange rate out and revenue grew 5.2 percent. The net loss widened to $14.6 million from $3.9 million a year earlier, which the company attributed to a tax bill and to advertising spending. Measured before those items, the quarter beat expectations, with adjusted earnings of four cents a share and gross margin up almost a full percentage point to 26 percent. The two core markets moved in opposite directions. South Korean revenue grew 20 percent in constant currency, with paying readers up 10.4 percent to 3.8 million. Japan fell 6.7 percent, with paying readers down 9.5 percent to 2.1 million. Guidance for the current quarter implies constant currency growth of 0.7 to 3.3 percent, well below the pace just reported. Management maintained a commitment to double-digit growth by the end of the year, then clarified under questioning that the figure refers to the rate the company expects to be running at as the fourth quarter closes, not to the quarter as a whole. Shares closed the regular session at $9.45 before the results, then fell 6.2 percent in after-hours trading to $8.86, against a 52-week range that runs from $8.30 to $22.47. The RI Games purchase alone accounts for about a sixth of the $583 million in cash Webtoon Entertainment held at the end of the quarter. 2026-08-11 09:41:44
Seoulites get respite from tropical nights as heatwave eases with arrival of autumn SEOUL, August 11 (AJP) - The scorching heat that has gripped South Korea in recent weeks is showing signs of easing, although daytime temperatures are expected to remain high. According to the Korea Meteorological Administration, morning lows fell below 20 degrees Celsius in many parts of the country on Tuesday as the sweltering heatwave has abated a little since last Friday, a day known as Ipchu or the beginning of autumn in the lunar calendar. Temperatures in Seoul, which soared up to 40.2 degrees in the middle of last week, plunged to 31.4 degrees over the weekend. Seoulites also woke up to their first respite from the unbearable tropical nights, which lasted for 17 consecutive days, with nighttime lows remaining at or above 25 degrees from July 22 through Aug. 7. But daytime highs are still forecast to reach 33 degrees in Seoul and Incheon, 31 degrees in Chuncheon, 28 degrees in Gangneung, Gangwon Province, 32 degrees in Daejeon, 31 degrees in Daegu and Busan, 34 degrees in Jeonju and Gwangju, and 30 degrees in Jeju. Heat wave advisories also remain in effect across the country, with nighttime heat lingering in some areas, while many parts of the country are expected to escape more than two weeks of tropical nights. Relatively mild temperatures are expected to continue through the rest of the week. AJP Takeaways: - South Korea's scorching heat is easing: The heat wave that gripped South Korea in recent weeks has weakened since Saturday, Aug. 8, although daytime temperatures remain high. - Seoul temperatures have dropped sharply: Seoul's temperature fell from a peak of 40.2 degrees Celsius in the middle of the week of Aug. 3 to 31.4 degrees over the weekend. - Seoul's 17-day tropical-night streak has ended: Tropical nights in Seoul lasted for 17 consecutive days from July 22 through Aug. 7, with nighttime lows remaining at or above 25 degrees Celsius. - Daytime highs will remain in the low to mid-30s: On Tuesday, Aug. 11, highs are forecast to reach 33 degrees in Seoul and Incheon, 34 degrees in Jeonju and Gwangju, and 31 degrees in Daegu and Busan, among other areas. - Milder weather is expected through the rest of the week: The Korea Meteorological Administration expects relatively mild temperatures to continue through the remainder of the week, although heat wave advisories remain in effect and nighttime heat will linger in some areas. 2026-08-11 09:36:21
Vietnam's Coach Kim Sang-sik Draws Admiration in Indonesia After ASEAN Cup Exit Kim Sang-sik, the coach of the Vietnam national football team, is gaining renewed attention in Indonesia following the team's elimination from the ASEAN Modern Cup 2026. Local fans and experts are citing his direct observation of opponents as a key difference in preparation that Indonesian football should learn from.On August 11, local media VnExpress and Indonesian football circles reported that during FIFA Day in June, Coach Kim visited Jakarta's Bung Karno Stadium to watch a friendly match between Indonesia and Mozambique. Dressed in a white T-shirt and carrying a black backpack, he sat in the stands and even took photos with Indonesian fans.His visit generated some buzz at the time, with Indonesian media interpreting it as an effort to assess the strength of the Indonesian team ahead of their group stage match in the ASEAN Modern Cup 2026. However, it did not receive significant attention until after the tournament began.The narrative shifted after Indonesia was eliminated from the group stage last week. Following a 3-0 defeat to Vietnam on August 3, Indonesia drew 1-1 with Singapore on August 7, finishing with two wins, one draw, and one loss, totaling seven points, which was not enough to advance past Vietnam (10 points) and Singapore (8 points). Subsequently, images of Coach Kim in the stadium resurfaced in Indonesian football communities, sparking discussions about Vietnam's meticulous preparation. Local fans reacted by stating that Vietnam's success was not coincidental but a result of thorough analysis of their opponents.Indonesian netizen Fantamas commented, "I really respect him. The Vietnam coach was professional enough to prepare for the Indonesia match months in advance. That’s why they beat us." Another user, Rikki, added, "I just remembered this. The Vietnam coach really thinks ahead. Now I understand why he has succeeded as Vietnam's national team coach."Fans' reactions also turned into critiques of the Indonesian team. A netizen named Lita remarked, "Our coaches should learn this mentality. We can't just think we're strong. Without proper preparation, no one can win." Satra noted, "They prepared seriously for months for this tournament. That seriousness deserves to be rewarded. Meanwhile, we took the tournament lightly and only thought about distant goals.""Understanding Southeast Asia is Key to Winning"...Advice for HerdmanIndonesian football expert Iban Hariri believes that Coach Kim's preparation methods should serve as a reference for Indonesia's coach, John Herdman. In an interview with Indonesian media Kompas, he stated, "In June, Kim Sang-sik came alone to Bung Karno Stadium to observe Indonesia's playing style. That is a very important effort for a coach."He added that Herdman should not be deemed a failure solely based on Indonesia's elimination from the ASEAN Modern Cup 2026 group stage. Herdman took over earlier this year, and this tournament was his first major test with the Indonesian national team. However, Iban pointed out that understanding Indonesian football alone is not sufficient. He emphasized that Herdman should broaden his perspective to include the characteristics, cultures, and competitive dynamics of other Southeast Asian teams, citing Kim's direct analysis of opponents as a comparative example.Iban stated, "I know Herdman has worked hard and prepared the team as best as he could. But he needs to clearly understand where Indonesia stands and where other countries are. We must not become overly proud just because Indonesia is getting closer to World Cup qualification and forget about the competition in Southeast Asia."Meanwhile, local Vietnamese fans continue to praise Coach Kim's preparation and leadership style. One fan remarked, "In Southeast Asian football, you need to know your opponent and yourself," highlighting the significance of Kim's direct assessment of Indonesia's strengths. Another fan noted, "A national team coach should achieve the best results with the players currently available," emphasizing the importance of making the most of existing resources rather than relying solely on a strong squad.Some fans have also pointed out the compatibility between Korean coaches and Vietnamese football. One fan stated, "Korean coaches fit well with Vietnam," positively reflecting on how Kim's leadership has restored stability to the team. Reactions regarding Kim's observational methods included a fan urging, "Keep going to the stadium to watch games and make the right decisions," suggesting that his direct analysis of opponents has contributed to Vietnam's success.The defending champions of the ASEAN Modern Cup, Vietnam, have advanced to the semifinals, where they will compete against Malaysia for a spot in the final. They will play the first leg of the semifinals in Kuala Lumpur on August 16 and the second leg on August 19 at My Dinh Stadium in Hanoi. Under Coach Kim Sang-sik, the Vietnam national team aims for a spot in the final and a consecutive championship title.The ASEAN Modern Cup 2026 has been ongoing since July 24, featuring ten teams. Group A includes Vietnam, Indonesia, Singapore, Cambodia, and Timor-Leste, while Group B consists of Thailand, Malaysia, the Philippines, Myanmar, and Laos. In the semifinals, Singapore will face Thailand, while Vietnam will compete against Malaysia for a chance to reach the final.* This article has been translated by AI. 2026-08-11 09:36:10
China Dominates Open Source AI Market with 60% Share Amid U.S. Struggles The generative AI competition has entered its third year, with the leadership of the practical usage market firmly in the hands of Chinese open-source models. While the U.S. maintains an edge in top-performing models, it has struggled to find a counter to the low-cost onslaught, resulting in a significant loss of market share.According to the IT industry on August 10, the platform OpenRouter, which aggregates various AI models through a single API, reported that as of August 5, eight of the top 10 models by weekly token usage were Chinese. Although models like ChatGPT, Gemini, and Claude are well-known globally, 60% of global token usage is concentrated on Chinese models.The latest data shows that Chinese models occupy eight of the top 10 spots, with a market share of 88.4% among these models. The top model, DeepSeek's coding-specialized 'V4 Flash,' processed 6.92 trillion tokens weekly, followed by models from Xiaomi and Tencent. Only two U.S. models, OpenAI's 'GPT-5.6 Luna' and NVIDIA's 'NemoTron3 Ultra,' made the list.In June of last year, OpenRouter's token market share was 74% for the U.S. and 20% for China, but by the last week of June this year, it had flipped to 48% for China and 20% for the U.S. In July, Chinese models claimed all top five positions, pushing China's share of overall routing traffic above 60%, with Chinese models at one point accounting for 63% of the tokens processed by U.S. companies.The driving force behind this shift is a significant price disparity. The output token cost for DeepSeek's V4 Flash is $0.28 per million tokens, 99% lower than Anthropic's top model, 'Claude Opus 4.8,' which costs $25. ZhipuAI's open-source model 'GLM-5.2' saw its usage increase nearly 50-fold within a month on the development platform Versel, thanks to operational costs at just 20% of U.S. competitors while maintaining stable performance. AI agent startup Lindy reported saving millions by switching from Anthropic's model to DeepSeek's.The low-cost strategy is supported by China's overwhelming domestic volume. According to the National Data Bureau of China, the daily AI token processing volume in the country has surged to 140 trillion, an increase of about 1,400 times since early 2024. This scale of economy achieved domestically enables the ultra-low-cost supply of open-source models for international markets.In response to the low-cost offensive, the U.S. has few effective countermeasures. The startup Arci AI, which aims to compete with Chinese models through open-weight models, recently raised only $50 million in funding. Industry insiders explain that major venture capital firms are hesitant to invest, fearing that the success of open-weight models could undermine the valuations of their existing investments in OpenAI and Anthropic. This creates a structural dilemma where capital invested in closed models hinders the counteroffensive of the open-source camp.Among single-frontier model factions, Anthropic is managing to hold its ground. Although its token processing volume lags behind China, its profitability metrics tell a different story. The average token cost for Claude Opus, according to OpenRouter, is 23 times higher than that of DeepSeek's V4 Flash, and under standard pricing, the gap can widen to 139 times. This indicates that despite losing processing volume, a significant portion of its revenue remains intact.Leveraging its market dominance, DeepSeek is reportedly planning to go public in China this year. However, on August 6, it announced plans to significantly raise API prices, suggesting that its ultra-low-cost policy has become unsustainable due to the operational resource burden from a surge in users, and profitability has become urgent ahead of its IPO. Companies like Alibaba Cloud, Tencent Cloud, and ZhipuAI have also recently raised prices, indicating that the price-cutting competition from China may have reached its peak.Domestic companies face a complex situation. SK Telecom announced on July 29 that its own model 'A.X K2' was designed to match the performance of Chinese models like Q1, DeepSeek, GLM, and Kimi, but its competitive pricing in practical use remains a key issue. Other major platforms, including Naver and Kakao, have yet to present objective superiority metrics compared to Chinese open-source models.Meanwhile, the government is set to announce the results of the second selection for its independent AI foundation model project on August 12. Whether the current strategy of matching performance while not competing on price against China will be effective in the market will likely be assessed after the second selection results are released.* This article has been translated by AI. 2026-08-11 09:36:10
Lee Yong-pil Appointed as Head of KEIT, Prioritizing AI Transition in Manufacturing Lee Yong-pil has been appointed as the new head of the Korea Institute of Industrial Technology Evaluation and Planning (KEIT), emphasizing the transition to artificial intelligence (AI) in manufacturing and innovation in future strategic technologies as his top priorities. He aims to support the development of industry-specific AI models and manufacturing data-based technologies, integrating AI into research and development (R&D) planning, evaluation, and performance management to elevate KEIT as a leading institution in industrial technology policy.KEIT announced on August 11 that Lee Yong-pil, a former spokesperson for the Ministry of Trade, Industry and Energy, has officially taken office as its sixth director.Lee entered public service through the 41st National Administrative Examination and has held various positions, including Director of the Materials and Convergence Industry Policy Division and Director of the Advanced Industry Policy Division at the Ministry of Trade, Industry and Energy. He is recognized for his extensive experience and expertise in industrial and technology policy.In his inaugural speech, Lee stated, "In the face of global technological competition and rapidly changing external environments, the AI transition and technological innovation in manufacturing are crucial for the continuous growth of our industry. I will focus all our capabilities to ensure that KEIT can effectively contribute to enhancing national industrial competitiveness as a specialized institution that promotes AI transition across industries and leads innovation in industrial R&D."He identified the AI transition in manufacturing and innovation in future strategic technologies as his primary objectives. Lee plans to actively support the development of industry-specific AI models and manufacturing data-based technologies to back the government's M.AX initiative and ensure the widespread adoption of AI in the manufacturing sector.Support for securing a significant competitive edge in national strategic industries such as semiconductors, displays, and biotechnology will also be strengthened. Lee emphasized the need to continuously expand challenging R&D efforts to enhance the productivity and competitiveness of South Korea's manufacturing sector.He also proposed measures to strengthen the industrial ecosystem through the stable acquisition of key materials, components, equipment, and resources. The strategy aims to proactively identify strategic technologies and core items to fundamentally enhance supply chain competitiveness, rather than merely responding to supply chain risks after they occur.Additionally, he will support South Korea's efforts to secure a leading position in global markets for advanced mobility, shipbuilding, and defense industries, where the country has strengths. Plans are in place to establish a virtuous cycle system that links competitive technologies with investment and financing, ensuring that excellent R&D outcomes do not fade away after project completion.KEIT will also enhance its capabilities in supporting industrial technology policy. The institute will proactively identify technology strategies and promising future technologies for various industries and analyze accumulated data and outcomes throughout the R&D cycle to reflect them in government policies.AI will be integrated into R&D operations as well. Lee stated, "We will actively utilize agentic AI and data across planning, evaluation, and performance management to enhance professionalism and efficiency in our work, while ensuring thorough information security and data protection."Furthermore, he promised to create an R&D specialized institution that enhances fairness and transparency in evaluation and management, collaboratively addressing field issues from the perspectives of researchers and businesses. He also emphasized integrity, ethical management, and a people-centered approach to safety management.* This article has been translated by AI. 2026-08-11 09:32:20